Black Man Black Woman

Category: finances

  • Down But Not Out

    If you find yourself in need, or someone you know is in need of home, career, or health assistance, check out this roundup of low-cost and free programs that could be your lifeline.

  • FedEx May Be Sued for Labor Violations by Three States

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    I think of FedEx as an employee-friendly company. For example, the entire company closes on Christmas to ensure that all employees can enjoy the holiday. Thus, it was surprising to learn that FedEx may be sued by the three states of New York, Montanta and New Jersey for intentionally denying 1,000 contractors the benefits they should receive as full employees. I guess they only commit (alleged) labor violations against non-employees.

    Reuters reports: “Three U.S. states said on Tuesday they plan to sue FedEx Corp, accusing the second-largest U.S. package delivery company of violating labor laws by illegally classifying drivers as independent contractors rather than employees to save money.”

    Now to be fair, FedEx claims their contractors operate more like the owners of a franchise, who use the FedEx brand, but in essence operate their own small businesses, so there are no labor violations. In fact, FedEx released a statement promising to “vigorously defend the right of FedEx Ground independent contractors to own and operate their businesses.” So why may FedEx being getting sued? By not one but THREE states?

    FedEx does not give contractors benefits like worker’s compensation protection, but still charges them high fees to use its equipment. This would be fine, except that the company strictly manages drivers with detailed rules regarding hours and uniforms, among other areas. Honestly, something in the milk ain’t clean. It’s clear that FedEx is in fact controlling these drivers like full-time employees, while making them take on the risk and expenses of an owner. I hope FedEx goes down on this one.

    The three states of New York, Montanta and New Jersey have given FedEx until October 27 to prove that these allegations are false. Then the law suit against FedEx will proceed, hopefully empowering these workers to receive fair compensation for their labor.

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    Gotcha Moments of Retail Shame
    Store: Midas
    Accusation:California filed a $222 million lawsuit against the owner of 22 Midas Muffler shops after uncover agents discovered in which consumers were charged for unneeded repairs, California Attorney General Edmund G. Brown Jr. announced. Click through to see more stores that got caught cheating.
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    Gotcha Moments of Retail Shame

      Store: Midas
      Accusation:California filed a $222 million lawsuit against the owner of 22 Midas Muffler shops after uncover agents discovered in which consumers were charged for unneeded repairs, California Attorney General Edmund G. Brown Jr. announced. Click through to see more stores that got caught cheating.

      Store: CVS
      Accusation:California caught the chain with expired merchandise on the shelf. The result? CVS must give $2 coupons to anyone finding more expired items. This isn’t the first store caught doing something shady (or even the first time CVS was caught doing the same thing). See more Gotcha Moments by clicking through.

      Store: Kmart
      Accusation:Marketed paper products as biodegradable that aren’t actually biodegradable. The result? Kmart settled the case with the Federal Trade commission. This isn’t the first time KMart was caught.

      AFP/Getty Images

      KMart’s Previous Gotcha:Kmart, Ashley, and World Market< were accused of deceptive furniture labeling — wood that wasn”t wood and leather that wasn”t leather — in an on-camera investigation by Good Morning America The result? Kmart said full product descriptions were available online, Ashley defended its wording as a description of color only, and World Market acknowledged that a quarter of its supposedly leather chairs were actually synthetic, and it pulled them from sale.

      Sears Holdings Management Corp., the parent company of Sears and Kmart, settled a case to stop enticing customers to sign up for a software that spies on them. It must also instruct customers how to uninstall the software that monitored their spending across the web, even on sites that are supposed to be secure, and destroy the data that was collected. The Federal Trade Commission brought the case against the Sears Holdings.

      Quizno’s Sub Shop has an online video ad showing two girls simulating a porn video by sharing a sub sandwich. The online ad, “2 Girls, 1 Sub,” takes its name from a notoriously heinous movie trailer, for a fetish film, which shows women eating their own feces. Critics have pointed out that the Quiznos video, starring Playboy Playmate Hiromi Oshima, is basically comparing the sandwiches to “poop.”
      This is Quizno’s second porn-themed ad to come out in recent months.

      If you are dining out — and many of us still are these days, despite the economy — make sure to check your bill carefully for extra charges that might creep on there.
      Call it the airline a la carte approach, as many restaurants are apparently sneaking in charges for bread, tap water, takeout boxes and mandatory tips. The New York Post found all of these items added to bills on an investigative mission that the paper undertook recently.

      For more on advertisers caught misleading consumers, click through our gallery of Gotcha Moments of Retail Shame.

      Blockbuster was found guilty of charging customers higher than the advertised prices on scanned items by district attorneys of Los Angeles and San Diego counties. Blockbuster owes $237,750 in penalties, and $62,250 in costs, and is further prohibited from charging amounts greater than the advertised price.

      A regulatory organization for the advertising industry demanded that Wrigley change its misleading packaging and advertising for Eclipse gum. The ads for Eclipse say that the gum’s natural ingredient – magnolia bark extract – kills germs that cause bad breath. This has not been proven and the National Advertising Division Council of Better Business Bureaus asks that Wrigley clarify this in its ads.

      Store:Chase Bank

      Accusation: In late March, the bank rescinded a $10 monthly fee it had imposed for several months on hundreds of thousands of credit card accounts, after New York’s attorney general decried the practice as a bait-and-switch for customers seeking low interest rates.

      Results:The settlement could save customers $22 million over the next year.

      Amy Sancetta, AP

     

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  • An App a Day

    Here are seven noteworthy applications you may want to phone a friend about.

  • Revolution Money: Would You Use the New Revolution Money Card?

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    Revolution Money is a relatively new money exchange system and credit card network. Having recently expanded its reach by partnering with Fifth Third Bank as an issuing agent for its cards, Revolution Money also just raised $42 million through Goldman Sachs in April. People in the business community must really believe Revolution Money is something very special. With a sea of credit and debit cards available to consumers and merchants, what makes Revolution Money and it’s card offering different?

    Well for one thing, the card physically looks and technically functions like nothing else on the market. Paymentsnews.com explains:

    Originally positioned to appeal to the extremely security conscious market segment, all transactions are PIN-based, riding over the debit networks’ rails using a proprietary BIN range (PINs for ecommerce transactions are entered in the CVC2/CVV2 field). Cards are not embossed, and do not have the cardholder name printed on the card or encoded on the mag-stripe. In addition, the number printed on the card is different than the number encoded on the mag-stripe, adding some level of additional risk management.

    Financial protection is definitely a plus during these uncertain times. In addition, Revolution Money offers an innovative and extra-secure way of sending money online called Revolution Money Exchange, which touts itself as a viable alternative to both checks and cash. Revolution Money is definitely leading on the bleeding edge in terms of offering consumers new ways to safely spend.

    But what does Revolution Money offer the business owner? Uniquely, the Revolution Money system is set up to reward merchants with points for encouraging customers to use the Revolution card, while suggesting that merchants pass those rewards on to their customers. This then promotes the loyalty of customers to the specific merchants offering the rewards, rather than the card. Businesses of various kinds can surely see the potential in this type of “revolutionary” arrangement with a credit card company. Usually, merchants lose money on credit card deals and the card issuer retains all the loyalty based on rewards. The Revolution Money system reverses all that.

    Should Revolution Money and Revolution Money Exchange turn the purchasing world on it’s head? Will the Revolution Money card become a preferred method for payment for consumers and merchants alike? Can Revolution Money Exchange really overtake the ubiquity of PayPal? Only time will tell. But as this recent partnership between Revolution Money and Fifth Third Bank shows, this company is taking no prisoners on its rampage path of growth.

     

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  • Dr. Boyce Money: Rapper Nas in Serious Tax Trouble

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    Hip Hop Wired is reporting that the rapper Nas is having some serious financial problems. In addition to owing his wife Kelis $44,000 per month in child support, it turns out that the artist also owes the federal government another $2.5 million in taxes. Here are quick thoughts about Nas, love and money:

    1) Nas has a complicated life. His decision to marry the “love of his life” is going to cost him for the rest of his life. The rapper’s tax situation could be due to irresponsibility (as appears to be the case with Method Man and Nicolas Cage), or it could simply be a matter of using write-offs that were not allowed by the IRS. We can’t assume that Nas’ tax trouble automatically makes him into a horrible citizen.

    2) He is not as rich as you think. I remember Will Smith once explaining how “a million dollars really isn’t that much money.” After Uncle Sam takes half, and the agents and attorneys get their cut, you are lucky to have $350,000 left over. Sure, that’s plenty of money, but it may not be very much money relative to the cost of living the celebrity lifestyle, and taking care of all the friends and relatives begging you for financial support. Success is a beautiful thing, but the problem is that success draws attention and financial vacuum cleaners who want to suck you dry. So, I am not sure why every artist loves to show the world how rich he is. I’d be quiet about my wealth.

    3) Please explain $44,000 per month in child support? Many men who make the kind of money that Nas allegedly makes (reported to be $250,000 per month) are considered to have infinite wealth. The truth, however, is that much of his income as an artist is volatile, uncertain, and likely to go down over time. The idea that he is being asked to pay so much in child support seems to neglect the fact that his resources do not go as far as Kelis and others might be inclined to think. The next time someone wonders why wealthy celebs don’t want to get married, they only need to look at the case of Nas and Kelis to find the answer. Love is supposed to be priceless, but child support courts seem to know exactly what that price should be.

    When it comes to Nas, Kelis and the IRS, the bottom line is this: Nas needs a financial intervention to help him to realistically manage his financial life. By analyzing his situation and others, we also can learn how our personal decisions in love and life can affect our financial situation. The truth is that who you choose to marry and how you manage your relationships plays a huge role in your financial stability. Finally, I am a fan of carefully constructed prenuptial agreements, so that wealth can be shared in such a way that marriage doesn’t become financially devastating. They say love and money shouldn’t mix, but relationship mistakes should not cost millions.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of the book, “Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Finding the Sweet Spot of Investing

    Here is a collection of investments that can help to minimize the chance of losses while maximizing your portfolio’s earnings.

  • McDonald’s Monopoly Online: Playing the Game This Year?

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    McDonald’s Monopoly Online game is heating up around the Internet. People around the world can’t get enough of this online game, which takes the wildly popular McDonald’s Monopoly game to another level. In the McDonald’s Monopoly Online game, McDonald’s customers can win free food, electronics, cash, or find themselves with a $1,000,000 windfall just like in the regular game. What makes the online version of the McDonald’s Monopoly game so thrilling, is that there are a bevy of secret codes, free pieces and additional chances to win through McDonald’s Facebook page and Web site.

    To help users make the most of the additional chances to win big, a host of articles have sprung up to help users play the McDonald’s Monopoly Online game to win the big prizes. For great tips on McDonald’s Monopoly Online game, visit these sites:

    1. McDonald’s Monopoly Online Game Board 2009: Free Codes and Links to Rare Online Monopoly Pieces

    2. Cracking the infamous McDonald’s Monopoly Game

    3. McDonald’s Monopoly 2009: Free Codes & Tips

    4. Free McDonald’s Monopoly Online Codes

    5. Detailed McDonald’s Monopoly Online Instructions

    Like all sweepstakes, no purchase is necessary (although in the case of McDonald’s Monopoly Online game, making as many purchases as possible certainly can help). To play McDonald’s Monopoly Online game without parting with your hard-earned cash, follow these instructions:

    To participate without making a purchase, mail a legibly handwritten, self-addressed, stamped envelope (“SASE”) with sufficient postage and a return address (first and last name, street address, city, state, and zip or postal code) to:

    2009 MONOPOLY at McDonald’s Free Game Piece Request
    P.O. Box 49189
    Strongsville, OH 44149-0189

    Happy playing! McDonald’s Monopoly Online game can be fun to play in this economy, as winning something as small as a McFlurry can brighten your spirits, even as you go for the big prizes. McDonald’s Monopoly Online game runs until November 16, 2009.

     

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  • Dr Boyce Money: Everything You Need to Know About Credit Scores Pt 1

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    Given the growing importance of credit scores in our economy, I thought I would do a Dr. Boyce Money series on credit scores and how they affect your life. These might answer many of the questions you have about your credit report and how the scores are calculated. We will also cover your rights as a consumer and how you might improve the score you’ve got. Enjoy!

    Who are the major credit bureaus and where do the scores come from?

    In the US, there are 3 major credit bureaus, Experian, Trans Union and Equifax. These are the three agencies that others can ask for credit information about you. Under the old system, your score would range from 375 to 900. There is a new system in place with VantageScore, which ranges from 501 to 990. The system is considered more consistent across the various bureaus, but it does not change much in terms of your credit worthiness. So, if you were a AAA borrower before the fact, you are going to be one now.


    How can I get a copy of my credit report?

    One way to get a copy of your report is to go to Myfico. You can order a report from any of the 3 bureaus, or you can order all 3. Another method for obtaining a credit report is to go to free sites such as freecreditreport.com (although there are conflicting viewpoints on whether this service is actually free). Under the law, the reporting agencies are entitled to give consumers at least one free credit report every year. Also, if you are denied credit for any reason, you can send a copy of the rejection letter to any credit bureau and receive a free credit report. Otherwise, the report is going to cost you about $8.

    How is a credit score calculated?

    The model for credit reports is based on what they call “The 4 C’s of Credit”: Character, collateral, capacity, capital and conditions. What are they?

    Character is their way of trying to decide if you are a good person or not. Effectively, if you have a history of not paying your debts, they define you as not having the character to repay. This is a bit silly, since some people don’t repay their debts because they are having financial trouble, not because they are bad human beings.

    Collateral is represented by assets you are willing to pledge against the loan as additional security in case you aren’t able or willing to pay.

    Capacity is represented mostly by income level and future earning opportunities.

    Capital is reflected mostly in your cash reserves, and other relatively liquid investments. High capital implies that you can pay the fees that are owed.

    Conditions are things that are basically out of your control: the state of the economy, your line of business, or any other issues on your credit report that do not necessarily reflect personal choices made by you.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Raj Rajaratnam: Who Is He?

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    Only the latest white collar crook to be arrested and charged with insider trading in the stock of companies including HIlton, Clearwire and Google. The founder of Galleon Group, a major hedge fund and worth $1.3 billion is (or if perhaps found guilty WAS) the world’s 559th most richest person (according to Forbes), The Federal Bureau of Investigation arrested 52-year-old Rajaratnam and five others on Friday in New York.

    The other money-mongering suspects include:

    +Danielle Chiesi, employee of New Castle Funds formerly the equity hedge fund group of Bear Stearns Asset Management

    +Mark Kurland, New Castle executive

    +Rajiv Goel of Intel Capital

    +Anil Kumar, director at McKinsey & Co., management consulting firm

    +Robert Moffat, executive at IBM

    What else do we know about the ringleader? Although a democrat and financial supporter of both Barack Obama’s campaign for presidency and several of Hilary Clinton’s; among the disturbing facts revealed is that Rajaratnam is said to have funded the Sri Lankan noxious terrorist group Tamil Tigers.
    .

    Illegal insider trading is a capital offense. It is a greedy violation believed to raise the cost of capital for securities issuers, thus decreasing overall economic growth. As if the world’s economy isn’t suffering enough. The financial penalties for such a crime could amount to as much as three times the amount gained or the loss avoided from illegal trading, not to mention the perpetual prison timeinsider trading. In this case the founder of the Galleon Hedge Fund is said to have garnered in excess of $20 million. His bail was set at $100 million to be secured by $20 million in collateral. Do the math. Crime NEVER pays.

    Read the full account here at the Huffington Post

     

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  • Dare to Take a Chance

    One executive with Waterlicious, a Marina Del Rey, California-based water manufacturer found an unconventional way to gain exposure for his brand.

  • Method Man, Wesley Snipes Arrested for Taxes, but Not Nicolas Cage?

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    I’ve met Method Man only one time, and I’ve never met Wesley Snipes or Nicolas Cage. In spite of his mixed public image, Method Man actually comes across as an intelligent, attentive and down-to-earth human being. At the time I met him, I’d only been on national TV a couple of times, but he talked to me as if he’d known me his entire life. He even recited the lyrics to Ice Cube songs that I brought up and told me stories about Tupac. I was quite impressed.

    The closest I’ve ever come to Nicolas Cage is when his movie came out about the 911 attacks and they forgot to include the black guy’s character. It was incredibly tacky, but effectively, there was an African American named Jason Thomas who played a huge role in 911 – large enough for them to include his character in the film. But somehow, in all their exhaustive research for this multi-million dollar blockbuster movie, they simply forgot that his character was black. Instead, he was cast as a white man. How the producers could have overlooked something so obvious was beyond me. In fact, I find it hard to believe that this was an accidental oversight.

    I don’t have much to say about Wesley Snipes, except for the fact that he should watch what he says about black women. Oh yeah. He needs to also pay attention to his tax bill.

    Where Nicolas Cage, Wesley Snipes and Method Man cross paths in my psyche is on the touchy issue of tax evasion. I listened to Method Man (in this interview) take full responsibility for the fact that he was arrested for owing $33,000 in back taxes. He even jokes about it, which is better than I’d be able to do.

    Nicolas Cage owes far too much money to joke about anything. In various media reports, Cage owes over $6 million dollars to the IRS. Now, I have no idea why Method Man is in handcuffs, Wesley got a prison sentence and Nicolas Cage just has to put his castle and mansion on the auction block (yes, the dude really owns a castle – that’s what my friends might call “Intergallactic ballin” – I came up with term that myself). I am also unsure how a man who’s made so much money could be so far behind on his taxes. At the same time, tax problems are human, and there are tons of Americans in all income brackets who have tax trouble every year.

    As you know, I enjoy finding true teachable moments in everyday life. Given that an IRS audit increases your chances of getting you into tax trouble, I thought I’d bring the classroom to the web and share a few facts with you about taxes, audits and finance.

    Here are 4 things that can increase your likelihood of being audited by the IRS:

    1) Having an income that is greater than $50,000 per year – When you make the cheese, you become a big fish and worth the time to audit. The IRS doesn’t have time to go after little wallets.

    2) You are self-employed – Statistics show that self-employed people tend to do the most wiggling and fudging on their taxes, so having your own business flags you as an audit risk.

    3) Making a mistake on prior tax returns – if you’ve made mistakes in the past, you are likely to make another one…at least more likely than everyone else. This will flag your return for a possible audit.

    4) An excessive number of tax write-offs – if the dollar value of your deductions exceeds a certain percentage of your income, then the IRS may come after you. Make sure that any write-offs you have are well documented and legal. You don’t want to cheat on your taxes or get too greedy when filing.

    Remember that tax problems can happen to anyone, so if you are subjected to an audit, don’t panic. Go buy a book on dealing with audits, “fess up,” pay your fine and go on with your life. You’re not in the same boat as Method Man.

    If you want to hear this right out of my mouth, feel free to click on the video below. I’m going to hang out in Chicago:

    Dr. Boyce Watkins is a Finance Professor at Syracuse University, a leading African American Speaker and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Seven Things to Know Before Investing in Rental Property

    For potential investors who have good credit, savings, and a dose of patience, the time is ripe for being a landlord. Like many potential real estate investors these days, you may be worried that the national trend toward declining property values might crimp your ability to draw income from rental property.

  • ‘Bosses Day’: Are You Celebrating National Boss Day 2009 on Friday?

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    A day for bosses? Really? Well, get ready, as it is now the eve of Boss Day 2009.

    I personally have never heard of National Boss Day, which will be celebrated this year on Friday, October 16. Even though “bosses day” (as it is called by some) was created way back in 1958 by a woman named Patricia Bays Haroski, this is definitely not your typical Hallmark occasion. Many people hate their bosses, and see no reason to give them a special day.

    But some writers are re-framing National Boss Day in 2009 as an important time to consider the immense pressures business leaders of today are facing given the economic climate.

    Between having to lay off good employees, to being expected to show results with diminishing resources, bosses in 2009 have to work harder than ever to stay positive while motivating their people. Author Bob Nelson believes that a good boss deserves praise for working well under such circumstances, citing these characteristics as those that make awesome bosses, no matter what the decade (via PRNewswire):

    1. A clear and compelling direction: Bosses need to inspire their employees to be excited about their work.
    2. Direct, open and honest communication: Frequent and effective communication is the leading way to show employees trust and respect.
    3. Employee involvement and initiative: Managers need to ask employees for their ideas.
    4. Employee autonomy, flexibility and support: Employees need a say in how they do their work.
    5. Career growth and development: Tough times provide many opportunities for employees to take on additional responsibilities.
    6. Recognition and rewards for high performance: During down times, the need for employees to feel valued for their efforts greatly increases.

    You can read more about what makes a great boss in 2009 in Nelson’s new book, ‘Keeping Up in a Down Economy: What the Best Companies Do to Get Results in Tough Times.’

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    Jobs You Can Run Away To
    Get a (New) Life
    If you have fantasies of picking up, packing up and starting a new life somewhere, then one of these jobs may be a great fit for you. Continue clicking through our gallery to learn the pros and cons about jobs that you can run away to.
    jupiterimages
    Touchstone Pictures

    Jobs You Can Run Away To

      Get a (New) Life
      If you have fantasies of picking up, packing up and starting a new life somewhere, then one of these jobs may be a great fit for you. Continue clicking through our gallery to learn the pros and cons about jobs that you can run away to.

      jupiterimages

      Cruise Ship Jobs

      On one level, cruise ship jobs seem amazingly glamorous. After all, employees receive free food, accomodations, medical care, airline tickets and uniforms. They often don’t have to pay taxes, get discounted cruise rates for family members, and can travel for free. As many cruise ship job sites point out, passengers pay thousands of dollars per week to see the same sites that employees enjoy for free.

      On the other hand, cruise ships can get claustrophobic after a while, and many jobs are far from wonderful. After all, when somebody gets seasick, a cruise ship employee has to clean it up, and chances are that the captain won’t be the one wielding the mop. Still, cruise ships offer a dizzying array of jobs, a chance to escape to exotic climes, and a steady income, most of which can be banked. Anchors aweigh!

      AFP / Getty Images

      The Military

      Although the military is reaching its enlistment quotas for the first time in years, it still offers excellent bonuses and outstanding benefits. According to Military Hub, the maximum bonus for new recruits is $40,000, while reservists can get $20,000 for five years of service. Other bonuses are available for military personnel who intend to buy a new home or start a business. For active duty soldiers who choose to re-enlist, bonuses can be as high as $90,000.

      Military members receive massively subsidized medical and dental care, subsidized education, and various housing allowances. They also have access to reduced-rate car insurance and life insurance, credit union membership, inexpensive military stores, and a host of other benefits.

      Jim MacMillan, AP

      Park Rangers

      Full-time Park Rangers earn a salary of between $24,000 and $37,000 and often receive free housing, in addition to other benefits. Unfortunately, these jobs are tenured and competition is fierce. In addition to a bachelor’s degree in park management, natural history, forestry, or a related major, applicants need extensive experience as seasonal rangers or interns.

      On the bright side, there are a variety of seasonal jobs available from the National Park Service. The education and experience required depends on the position, and interested parties can apply at USAJOBS, the US Federal government’s job site. While park ranger jobs were cut after 2006, it seems likely that these could be among the first positions to benefit from the US government’s stimulus plan.

      AP

      Nanny

      Salaries for live-in nannies vary wildly, depending upon the area, the family, and the nanny’s qualifications. In general, nannies in major cities get $18-20 per hour, while live-in childcare in less costly areas is about half that. Entry-level nannies with high school degrees can expect roughly $400 per week, while experienced, trained nannies can expect $1000 per week or more.

      While live-in nannies may not qualify for time-and-a-half overtime wages, they still are legally entitled to time off and other benefits. Many nannies get complete compensation packages, including subsidized health insurance, paid vacations, gym memberships, cell phones, and educational allowances.

      jupiterimages

      House Mother

      If you’re a woman who is over 40 years old who enjoys dealing with adolescents and has experience with running a household, hotel, or small country, this might be the job for you. Basically, a house mother is in charge of the environment of a sorority or fraternity. She deals with the house’s staff, plans meals, handles minor disasters, and generally makes sure that her charges’ lives run smoothly. Jobs usually include free rent and meals and come with a reasonable salary. Since they are attached to a university, house mother positions may allow you to take advantage of many of the cultural and educational attractions available at your school. Best of all, you get to deal with the wonderful drama of a household full of college girls!

      Corbis

      Ranch Hand

      Running away to work on a farm is one of the classic escapist American fantasies. While the dude ranches of the nineteenth century have almost disappeared, there is still a huge livestock industry and plenty of jobs for people with experience in animal husbandry. Depending on the type of ranch, workers can do a wide variety of jobs, including training horses, caring for livestock, taking care of children or young adults, performing general farm work, maintaining corrals, and cooking. While education for this work is generally vocational, some areas will train employees to do the specialized jobs that they require. Depending on the position, the area, the employer, and your level of knowledge, pay and benefits can range wildly. Ranch Work is a good starting place to get a feeling for available jobs, salary possibilities, and benefits involved.

      Corbis

      Camp Counselor

      If you sometimes find yourself obsessively watching Meatballs, then camp work might be perfect for you. While salaries vary based on position and experience, you can expect to make a couple of hundred dollars per week, in addition to room, board, and free use of recreational facilities. Positions include lifeguard, counselor, kitchen staff, administrative staff, nursing staff, and maintenance staff, and are available across the country. Added benefits include fresh air, beautiful scenery, and a 50% chance of waking up with your hand in a pot of warm water!

      AP

      Peace Corps

      In addition to offering a solid line on a resume, a stint in the Peace Corps provides a complete care package. While in the corps, volunteers are taught a foreign language, receive comprehensive medical and dental care, draw a liberal living allowance, and have two days of paid vacation per month. Students are allowed to defer or even partially cancel their student loans.

      Once volunteers return from their service, the program helps them readjust to society with a $6,000 bonus, fast-tracking into government careers, and other job placement help. Those who want to continue their education can combine their service with a graduate program or can join the Fellows/USA program, which offers scholarships or reduced tuition in return for a commitment to work in an under-served US community.

      Andres Leighton, AP

      Home Health Care Aide

      With the Baby Boomer generation’s ongoing march into old age, the home health care industry is poised to enjoy almost explosive growth. Home health care aids help elderly, ill, and mentally disabled people to do all the things necessary to live at home. This can include cooking, cleaning, planning meals, doing laundry, shopping, changing bed linens, and other household tasks. Certification for this job varies from state-to-state. In some areas, applicants simply learn on the job, while other states require extensive background checks and more formal training. Median wages are $8.54 per hour, going up to over $11. In most cases, this isn’t a live-in job.

      jupiterimages


    Do your bosses exhibit these traits? If so, consider yourself lucky and honor them this Friday on National Boss Day 2009. If business managers ever deserved a day for keeping things running, it is during this turbulent era.

    Source

     

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  • What Dow 10,000 Means—This Time

    As the Dow Jones Industrial Average powers through the 10,000-point threshold today, millions of investors are no doubt searching for meaning. But, is there any deep significance here?

  • Getting Connected In Tough Times

    Although networkers and jobseekers are flocking to LinkedIn (www.linkedin.com) in droves, author and motivational speaker Brian McClellan, 38, says that he had to be dragged onto the free social networking site when he first learned about it in 2007. “I took some convincing,” he admits.

  • KKK Threatens Woman after Walmart Incident: Was Walmart to Blame?

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    I mentioned the story before about Heather Ellis, the young woman who was threatened by the KKK after protesting about her arrest that took place in a Walmart store. The story was quite interesting in that Ellis now faces 15 years in prison for effectively cutting line at a Walmart. The unfortunate events occurred when Ellis was shopping with a cousin in Kennett, Missouri.

    Heather and her cousin went to separate lines and when her cousin found the shorter line, Heather joined him. Ellis was then accused of cutting line by the person checking out customers, which led to an altercation. When Ellis was asked to leave the store, she argued with the managers, which led to the police being called. Ellis was eventually charged with disturbing the peace, resisting arrest and two counts of assaulting a police officer.

    Ellis, a college student on her way to medical school, argues that the charges were not appropriate, particularly since she doesn’t have a history of this kind of behavior. She now faces up to 15 years in prison if convicted. Ellis has publicly protested the DA’s decision to push the case forward, which has led to her receiving threats from the Ku Klux Klan. The African American community is working to help Heather now, as a website has been set up for an online protest and petition fighting to support Heather’s case.

    The question here, from a business standpoint is whether or not Walmart could have done something to avoid this situation. Some people think so.

    Dr. Towanna Freeman, a management consultant, argues that Walmart could have avoided the entire problem by paying greater attention to customer service.

    “Regardless of a person’s ethnicity, gender, or sexual preference, this case started when the cashier failed to convey at least one of the core beliefs and values of Sam Walton: ‘Customers are the reason we’re in business, so we should treat them that way.’,” says Dr. Freeman. “With that said, the cashier could have easily interjected and calmed the angry crowd by saying something like, ‘Excuse me, although we don’t promote cutting lines, please allow me to assist this customer now. This will only take a few minutes. Thank you, for your patience.’”

    The case for Heather Ellis is heating up. I’ve made some calls around the country and it appears that the case might finally get the attention it deserves. Also, the Your Black World Coalition is going to get involved, along with the National Action Network, to ensure that this young lady’s case is carefully analyzed. The bottom line, however, is that this incident should never have happened and Walmart has engaged in bad business by allowing its stores to be the center of such a racially-charged controversy.

    There is the added reality that Kennett, Missouri is Rush Limbaugh country. Respect for African Americans in the legal system of this town is not what it should be, and the more emails I receive about past indiscretions in this region, the more I am starting to wonder if Heather was going to be treated fairly in the first place. The presence of the KKK doesn’t help their case and only serves to remind us that we do not live in a “post racial America.”

    Dr. Boyce Watkins is a Professor at Syracuse University and the 2007 Black Speaker of the Year. To have Dr. Boyce commentary delivered to your email, please click here. To follow Dr. Boyce on Twitter, click here. If you wish to find out more about the case of Heather Ellis, please visit www.SaveHeatherEllis.com.

     

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  • Navigating an Awkward Interview

    Most interviewers stick to job-related questions. But let’s face it: Some are socially awkward, untrained, rude, or even offensive. If you’re stuck with that interviewer, consider these tips:

  • Dr Boyce: Dr King’s Kids Fighting Over Money – What We Can Learn

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    Most of us know about Dr. Martin Luther King’s childrens’ fight over money. We are all saddened and disappointed that it has come to this, but this shows that the family is human like the rest of us. But there are things all of us can learn from this dispute when it comes to leaving money for your children.The dispute between the kids is now resolved, but that doesn’t mean that the teachable moment has ended. The video below breaks it all down in our Dr. Boyce Web Chat. Enjoy!

    Dr Boyce Watkins is a Finance Professor at Syracuse University and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here. To follow Dr Boyce on Twitter, please click here.

     

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  • How to Benefit from a Business Incubator

    Incubators are mentoring centers that provide coaching, networking opportunities, and even affordable office space, says Robert Jackson, who operates a business incubator as CEO of the African American Chamber of Commerce of Central Pennsylvania (AACCCP) in Harrisburg, Pennsylvania.

  • Dr Boyce and Rev. Al Sharpton Discuss Couples, Money and Michael Vick

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    This week on “Keeping it Real with Rev. Al Sharpton,” the good reverend and I discussed some issues that many people might find interesting. First, there was the conversation about love and money. Most of us know that money matters in life. We tend to think about money every day and a good way to end up in the dumps is to have someone take your money away from you. Money is also a weapon of mass destruction in many relationships, especially in the African American community. And just for the record, Rev. Al stands firm that there is nothing to his rumored relationship with Lisa Raye. If only I were privileged enough to have people think that I had a thing for Lisa Raye….now THAT would make my day!
    Our second topic of discussion was Michael Vick. I personally believe that in spite of media reports to the contrary, Nike is still waiting in the wings to sign Vick to a real deal, because Vick has always been the real deal among NFL athletes. The great challenge for Vick is that he has to start from scratch to rebuild his respectability as a top notch quarterback. He also has to let that ‘dog fighting’ issue get behind him.

    I recently did an online webchat about Michael Vick, which explores the similarities between Michael Vick and Jack Johnson, the first African American heavyweight champion of the world. You’ll notice that the way America has vilified black male athletes is nothing new to our country – there is a long history behind it.

    The conversation with Rev. Al is below. Enjoy!


    Dr. Boyce Watkins is a Finance Professor at Syracuse University and a leading African American Speaker. He is also the author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered directly to your email, please click here. To follow Dr Boyce on Twitter, please click here.

     

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  • Don’t be Afraid–Twitter Won’t Bite

    There’s a monster lurking in the shadows. The million-headed beast reveals itself from the midst of darkness, propositioning you to join its alliance. But the gushing saliva, malodorous breath, and scaly skin frighten you, prompting you to flee shrieking in fear.

  • Eddie Griffin: Going for Broke – and Getting There

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    I had a lot of fun watching the new Vh-1 show, “Going for Broke,” starring comedian Eddie Griffin. Griffin is one of the funniest comics in America, the comedian that Chris Tucker could have been (if he would simply stop disappearing between Jackie Chan movies).

    On the show, Griffin gives insight into his personal life, which is both intriguing and disturbing. The show is called “Going for Broke” for a reason, because Eddie just might actually get there.
    Here are some reasons that Eddie Griffin might actually become the broke celebrity that he is trying to become:

    1) He spends like a damn fool. One of the easiest traps for an entertainer to fall into is the “infinite money trap.” That’s when the person thinks that they’ve got an endless supply of cash, giving them ability to spend whatever they want on whatever they want. Apparently Eddie may have fallen into this trap, since his Bentley was being repossessed in an early episode of the show. Eddie’s conversation with his accountant was also revealing, as the words “all the accounts are empty” seemed to strike him hard. With all the success that Eddie Griffin has had, it is difficult to imagine that he would be completely broke. But the truth is that this kind of thing happens all the time.

    2) Can you say “8 kids and 4 baby’s mamas”? Eddie’s mother was right when she mentioned that any new potential “baby mamas” were looking to “get on the “Eddie Griffin financial plan.” What Eddie also seems to forget is that even if you are well to do, child support is a horrible financial burden. There are ways to be involved in the lives of children without giving up all your money in order to do so.

    3) He seems to put himself into bad situations. The first episode I saw showed scenes of Eddie going to a plastic surgeon after having a champagne glass smashed against his face by a “fan.” I’ve honestly got a few fans, but I don’t think any of them would want to slam a glass against my face. Maybe he should change the word “fan” to “hater,” “enemy,” or “potential threat.” Either way, Eddie seemed to feel that his life was somehow cursed with bad energy. Instead, he might take a second to realize that his personal choices might be the reasons he is being put into such peculiar situations.

    When it comes to Eddie Griffin and his new show, the bottom line is this: If you think that Eddie is now doing fine because he has a new Vh-1 show, think again. The networks don’t pay the entertainers much to do these shows, and the shows don’t usually last for a very long time. Also, unless you’re Bill Gates, you can’t presume that you’ve got a seemingly endless supply of disposable income. The fact that Eddie didn’t know he was out of money implies that he probably doesn’t keep a budget, which is one of the first paths toward financial ruin. Given that one of Eddie’s predecessors, Red Foxx, died deeply in debt to the IRS, one would hope that Eddie doesn’t endure that same fate. Eddie’s my man, funny as hell, but he’s really got to get it together.

    Dr. Boyce Watkins is a Professor at Syracuse University, a leading black speaker and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Scam Alert: Cash For Home Offer May Not Be What You Think

    “Sell you home for cash” signs are ubiquitous, and unfortunately, sketchy, says Manny Alvarado, operation specialist for the New York Regional office of the U.S. Department of Housing and Urban Development (HUD).

  • Dr. Boyce and Keith Murphy Discuss Economic Empowerment

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    In this interview below with the great radio legend Keith Murphy, we discuss the power of high expectations, education and economic empowerment when it comes to dictating your own destiny.

    Keith Murphy is the host of “The Urban Journal” on Sirius/XM Satellite. He is a good brother and one of the few people who supported me when nobody knew who in the heck I was. I will always respect him for that.

    I told Keith that much of the empowerment process in the African American community comes down to education and economics. If we really push our kids to be their best educationally, that will open a million doors for achievement. It’s not difficult to be a good student: you only have to treat it like a part-time job. If a kid can work 8 hours a day in McDonald’s, that same person can sit and study for 4 hours a day. Any college student who studies 4 hours per day, every day, is going to earn As and Bs in most of his/her classes. It’s really that simple. In fact, most universities give you a “B” in the class just for doing what you’re supposed to do. College is not nearly as difficult as some would like for you to believe.

    When it comes to economics, it’s all about a couple of things: learning to save and invest and understanding the foundations of entrepreneurship. My belief, for example, is that every ex-convict who can’t find a job should study entrepreneurship so they can find ways to make money without earning dump wages from someone who doesn’t respect them. If the world rejects you, you have to find a way to still get what you want. It’s possible if you believe.

    The interview is below if you’d like to listen. Enjoy!

    Dr. Boyce Watkins is a Finance Professor at Syracuse University, a leading African American speaker and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Dr. Boyce Money: Lost Your Job? Senators Might Help You

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    The Senate has been mingling with the idea of extending jobless benefits for those who’ve lost their jobs. The problem is that the politicians can’t quite make up their minds. A bill was passed last month in the House of Representatives, but the Senate has still been fighting over the details.

    The black community is in dire need of help from legislators, as our community has been hit the hardest by recent trends in unemployment.
    While overall unemployment is at a staggering 9.8%, African American unemployment is 15.4%. Black male unemployment is as high as 30 – 40% in some urban areas. Jobs are needed and benefits are needed even more. According to the Center for American Progress, the poverty rate for African American children is over 34.7%, while only 10.6% for white children. Economically speaking, black people are usually the state of economic recession.

    Typically, unemployed workers are eligible for up to 26 weeks of benefits, but that number has been extended twice by Congress. Now, workers are eligible for as many as 79 weeks of benefits. The current compromise proposed by Senator Max Baucus would give an extra 13 weeks of benefits in states hit hardest by unemployment, while those suffering less would get an extra 4 weeks. This approach has been disputed by some members of the Senate, who feel that all Americans should get the same extensions, regardless of where they live.

    The unemployment rate is expected to rise above 10%. Additionally, more than 1/3 of all unemployed Americans have been out of work for more than six months.

    One ray of hope for an economic recovery is the stock market. Anyone with a little extra money to invest was able to earn a 50% return over the past 6 months, which is truly phenomenal. The other bright side of the market rally is that the stock market is a leading indicator of economic growth: that means that when the market improves, the economy is expected to improve. So, while recent unemployment numbers imply that a recovery is going to be slow, the truth is that all is not lost.

    Keep your hope alive. Things are going to get better.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Dr Boyce Money: Five Ways to Know You are a Credit Card Crackhead

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    Sometimes your finances can get so out of whack that you can only laugh in order to keep from crying. Well, I am a big advocate of the art of laughing, so I thought I would share five symptoms that show you might be a credit card crackhead. As we know, millions of Americans have been sucked into credit card addiction, especially before the recent financial crisis, where the average savings rate for American consumers was actually less than zero.

    African American wealth     is also affected, as many of us in the black community are very good at whipping out the credit card to handle any old financial concern. Here is a list of five ways to know that you might be a credit card crackhead:

    1)Are your roommates and children trained to tell the bill collectors you’re not home? Running from bill collectors might make sense, but you eventually have to deal with them. I recommend working with a consumer credit counselor, who can help you to renegotiate your debts. Many of them can save you thousands of dollars in the process.

    2) When shopping, do you whip your credit card out faster than John Wayne’s gun? Food, clothes, haircare products are not the kinds of things that should be purchased with a credit card. Credit card use should be limited to major and emergency purchases. Using cash is an easier way to keep a cap on your spending. You might want to get a set amount of money out of the ATM every week and don’t spend more than that amount.

    3)Do you break into a cold sweat when you make a charge because you think that your credit card might be maxed out? Yes, a maxed out credit card is embarrassing. But banks have made it “easier” for you: many of them will go ahead and pay the charge if you go over your limit. In fact, they encourage you to overspend. Why? Because they will charge you a massive fee for doing so, to the tune of nearly $40 per transaction.

    4) Do you do the happy dance when you get a free credit card offer in the mail? If you are smart, then you would just throw it away. These offers are not as prevalent as they were before the financial crisis, but the credit card crackhead has a problem with seeing credit card offers as free money. Most of us think we need credit cards, but really you don’t. One credit card is usually enough to achieve your financial objectives.

    5)Do you have so many credit cards that your wallet hurts your butt? Or if you are a lady, do you have credit cards for all of your favorite stores? If so, the high interest payments you are making are probably killing your ability to save money. Get rid of store credit cards, since they encourage you to overspend on meaningless junk. They also tend to charge outrageous interest rates.

    When it comes to managing a credit card addiction, it’s all a matter of making wise choices. Credit is a good thing and very powerful, but it should also be used responsibly. Get your butt in rehab right now.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • DC Budget Cuts Can’t Overcome a Mother’s Love

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    My mother gave birth to me when she was 17-years old. As a teen mother who didn’t have a lot of money, she didn’t know the first thing about raising a child, taking care of her health, or preparing for her economic future. Fortunately, there were adults in community-based programs who cared enough to teach her the things that she didn’t yet understand.

    It is for that reason I support programs like The Health Babies Project in Washington, DC. There is no more important job than that of a mother, and The Healthy Babies Project understands that. The great challenge for the organization is that politicians seem to remember that babies don’t vote. So, when the funds are low, programs like this one are among the first to be killed.

    Due to recent budget cuts, DC Mayor Adrian Fenty has allowed for the program’s budget to lose a whopping $500,000 per year, well over half of the funding that the program needs in order to operate. Dr. Pierre Vigilance, Director of the Department of Public Health, has played his role in the process by allowing funding to be cut that had been previously promised to the organization. What’s worse is that the program has been doing a better job than the Department of Health itself when it comes to reaching benchmarks on the elimination of infant mortality.

    The unborn babies can’t quite speak for themselves, but their mothers aren’t taking this lying down. The organization is planning a rally Tuesday, October 6 in Freedom’s Plaza, located on Pennsylvania Avenue. The women being supported by the program are also working the phones to hold local officials accountable and are even pushing to get the attention of First Lady Michelle Obama.

    Programs like The Healthy Babies Project are important, since infant mortality in the black community is 2.3 times greater than that for white Americans. Additionally, persistent problems in the DC area, such as HIV infection and malnutrition require continuous dedication from public officials. One can understand the idea of cutting a program that isn’t working. But if a program is doing well, and goals are being reached, why would this be the program that gets one of the most significant funding cuts in the city?

    Perhaps we are getting a chance to see DC politics at its finest. Politicians are going to be political, but our children need our support.

    Dr. Boyce Watkins is a professor at Syracuse University and author of the forthcoming book, “Black American Money.” To have Dr Boyce commentary delivered to your email, please click here.

     

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  • Dr. Boyce Money: Is a Lack of Sex Grounds for Divorce?

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    I live in New York, so I get the chance to meet a lot of interesting cab drivers. I love listening to older people so I can understand the world a little bit better. One driver, a man in his late 60s, was especially candid with me about his life, his relationships and the personal choices that got him to where we were at that very moment.

    He told me that he was married young, to a beautiful woman. The driver then began a very open description of why he left the marriage. “She was throwing so much sex at me that I didn’t know what to do with it,” the driver said. “Then, after we got married, I had to beg for it and she wasn’t budging, so I told her I needed to get a divorce.”

    “A divorce?” I asked.
    “Yes, there was no point in pretending,” the man responded.
    While it may seem extreme for the man to get a divorce because he wasn’t getting enough sex, it wasn’t as if he was simply jumping from one wife to the next. A few months later, he met and fell in love with another woman, to whom he has been married for the last 35 years. They’ve produced 5 children and 9 grand children, and according to the driver, they still “get busy” every chance they get.

    Alrighty then.

    The cab driver’s story, as odd as it may seem, brings up an interesting question: Is a lack of sex grounds for divorce? Some say that it should be, since they argue that there is an implicit agreement from both parties to fulfill the needs of the other person. Some say that it is immature to leave your mate due to a lack of sex. At the same time, couples regularly cite infidelity as their grounds for splitting up. Does it make sense to agree to only have your needs met by someone who refuses to meet your needs in a satisfactory manner? Probably not.

    Legally, is a lack of sex good cause for divorce? I asked an attorney about that.

    Christopher Chestnut, a prominent attorney out of Gainesville, Florida, argues that it, “depends upon the state. For instance, Florida is a No Fault state, thus, justifiable reasoning for a divorce is not dispositive to a case. Notwithstanding, lack of sex in marriage may be a grounds for divorce in some states.”

    S. Tia Brown and I discuss sexless marriages and whether or not this gives you just cause to roll out or sneak out of your marriage. Listen up and enjoy!

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of “Financial Lovemaking 101: Merging Assets with your Partner in Ways that Feel Good.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Financial Lovemaking: Managing "Baby Mama Drama"

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    Most of us know about “baby mama drama,” since some of that drama may occur within your own home. What is also forgotten is that there is a huge emotional and financial toll taken by the mating and dating choices that we make early in life. Having multiple children is expensive enough, but having multiple children in multiple households leads to a peculiar mix of unpredictable and complex psychological variables which may impact your ability to find peace and happiness.In this episode of “Financial Lovemaking,” S. Tia Brown and I discuss the art of managing multiple households and all the responsibilities that come with it. Here are some quick pointers on financial responsibility when dealing with and avoiding “baby mama drama.”

    1) Don’t create the drama in the first place. I tell my daughters that if you don’t think someone would be a good parent for your children, you shouldn’t sleep with them. In fact, you shouldn’t even go on the first date. This may sound far-fetched, but how many young parents go on a date with someone they just planned to “kick it with”, only to find their children being raised by the ignorant fool that they knew they should never have messed with from the beginning? Those who are not intelligent about their dating and mating choices early in life can end up with a lifetime of incredibly expensive child support. These huge financial obligations will virtually obliterate your ability to have another family or reach your personal financial objectives.

    2) Realize that there is no substitute for time. Some parents are tempted into believing that sending a big check is a replacement for spending time with their children. This is ultimately incorrect. Your kids are going to remember the time you did or did not spend, not how much money you sent.

    3) Create a budget. If you have a long list of parental obligations, make sure you keep a carefully designed budget and stick to it. You may also want to consider the fact that having a bunch of kids in multiple households is going to require you to have massive earning potential. I paid 18 years of child support myself, and I honestly think I spent enough money to fund NASA and the United Negro College Fund. Although I adopted kids later in life (I believe it takes a village to raise a child and black men should be willing to step up to do this), I was at least smart enough to avoid another pregnancy. I have made many mistakes in my life, but I usually only make them one time.

    4) Don’t play favorites. Emphasize to your children the importance of making sure you treat them all the same. How you deal with your kids will have a lasting impact on them into adulthood. You can’t guarantee that they are going to believe that you were fair (there’s always one who thinks the others were treated better), but you can at least do your best to avoid this problem.

    5) Realize that it takes two to Tango. You didn’t create the baby by yourself, so you should ensure that the non-custodial parent has an opportunity to spend time with his/her children – in fact, you should demand it, even if the kids aren’t interested. As much as black men get a bad rap for not wanting to see their children (sometimes rightfully so), there are thousands of fathers across America who’ve been victimized by mothers who want money, but don’t see the significance of influencing the children to spend time with their father. They are his children too, remember that, and if you are speaking negatively about the father when the kids are around, you should realize the long-term damage you are doing to your own offspring. Children should be targets of our love and affection, not possessions to be used as a source of power – think about that when you use the words “MY kids” when speaking with the other person who created them.

    The episode is below, check it out!

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of “Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Washington Report

    Updates from Capitol Hill