Money Magazine’s Best Small Cities 2010 - July 10
Everyone who lives in Colorado would agree that it is a great place to be. From our majestic Rocky Mountains, to the crystal-clear lakes and streams, to the plains in the east, there’s something for everyone to enjoy.
Each year, Money Magazine puts out a list of their top 100 small cities. According to the editors, these cities “boast plenty of jobs, great schools, safe streets, low crime, lots to do, and more.” The new August issue has the new top 100.
Colorado is represented by five towns, with three being in the top 25. Those towns are:
6. Fort Collins
12. Highlands Ranch
19. Broomfield
33. Loveland
58. Arvada
According to the editors, the 2006 winner, Fort Collins, was hurt because the school district has had such trouble with funding through the recession. Loveland, though, was a pleasant surprise for me, since it is one of my favorite towns in Colorado.
It makes me wonder what kind of impact these towns will see after receiving such notice. Will they see an influx of people moving to them? Will it stay the same? Could it draw in more businesses to the region?
What do you think? Tell us why in the comments below or over on Facebook or Twitter!
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Give your employed teen a lesson in money - July 10
I’m a long way from having one of my daughters get her first job, but as fast as they seem to grow, that day will be here soon enough. That’s why I love finding advice that I can hold on to for when my girls are older.
I stumbled upon some great advice from Money Magazine’s Linda Stern that focuses on parents of teenaged children who may be getting their first job. In her article, she points out that it is the perfect opportunity to start teaching your teen how to manage their new source of income.
Think about it. They have gotten their first job and are bringing home a steady paycheck. Now, they have to learn to take care of that money, and as the parent, you’re the best person to teach them.
Stern points out four key pieces to this talk:
Taxes. Yes, you’ll have to talk to your teen about taxes. Go over their paystub and explain how much is being withheld and why. It may seem a little nonsensical, but it will help.
Banking. You’ll want to take your teen to the credit union and help them set up a savings and checking account – ideally, you’ll find accounts specifically geared for teenagers.
Saving. Teach your teen that there is nothing more rewarding than saving up for a big ticket item he or she wants. Show them how easily it can be done.
Micromanaging. Don’t do it. It’s that simple. Keep in mind this is their money, and your job is to teach them how to be responsible. Sometimes, learning from a mistake is a good a lesson.
All in all, it’s very good advice. For those of you who have recently had teen kids, what other lessons can you share?
Post in the comments, on Facebook or Twitter!
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The price of a stamp might go up - July 10
The United States Post Office announced proposed price increases for several different mailing options. It doesn’t come as a big surprise, but some people might see it as a bit of a nuisance.
Keep in mind, this is still just a proposal, but it would raise the rates of a first-class stamp up to $0.46 and the cost of a postcard to $0.30. All told, the Post Office says the rate increases average around 5 percent and will cover first class, packages, periodicals and other services.
The last price increase took effect in May 2009. So, why would the Post Office want to raise rates so quickly? Simply put, they’re going broke. The organization faces $7 billion in losses for 2011, and the increase could cut those losses by $2.5 billion.
The Postal Rate Commission has 90 days to respond to the proposed rate increase, and if approved, the changes will go into effect in January 2011.
If you pay bills by writing a check and sending in an envelope, you could opt for online bill payment, which is free for members who have a Premier Platinum account or get e-statements. It’s quick, easy and will save you the cost of a stamp for each bill you pay.
Also on tap is cutting the mail service down to five days a week. While still only a proposal, if it would help, would you mind having mail only delivered five days a week? Do you think it would have that much impact in your daily life?
As always, let us know what you think in the comments below or join in on the conversation on Facebook and Twitter.
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Independence Day is here again! - July 10
I mentioned this last year in this space, but the Fourth of July is my favorite holiday. Barbeques, family get-togethers, fireworks and a lot of fun fill the day, and I can’t wait for it to get here.
While last year I mentioned our beloved Declaration of Independence, this time, I think I want to turn my attention to the First Amendment of the Bill of Rights.
Amendment I
Congress shall make no law respecting an establishment of religion, or prohibiting the free exercise thereof; or abridging the freedom of speech, or of the press; or the right of the people peaceably to assemble, and to petition the Government for a redress of grievances.
This one has a lot of importance to me, having studied journalism in college and interned at a newspaper. Obviously, it grants freedom of the press, but it also gives everyone the right to free speech.
Whereas so many countries have oppressive governments (think of the protests following Iran’s last election or China’s power to pull the plug on the Internet), we have an incredible foundation set for us with our Constitution and Bill of Rights. Say what you will about our elected officials, but we do have it lucky in this country. And, as long as we stay true to those documents, our country will be in good hands.
This weekend, when you’re enjoying the freedoms given to us by these historic documents, take a few minutes to remember the soldiers who serve and have served in our military – these are the men and women who ensure we keep our freedoms.
Finally, are you looking for a good fireworks display for Sunday? Take a look at this website and find a display in your neck of the woods.
Happy Independence Day.
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Summer safety: know the signs of drowning - June 10
The news has been reporting a lot of drownings, recently, as more people take to the summer waters. Enjoying the water is great, but make sure you know the signs of drowning (hint: experts say it’s not the screaming and thrashing depicted in television and movies).
According to a 2006 article in On Scene, there is an Instinctive Drowning Response. Here are the characteristics:
1. Except in rare circumstances, drowning people are physiologically unable to call out for help.
2. Drowning people’s mouths alternately sink below and reappear above the surface of the water and are not above the surface long enough for them to exhale, inhale, and call out for help.
3. Drowning people cannot wave for help. Nature instinctively forces them to extend their arms laterally and press down on the water’s surface.
4. Throughout the Instinctive Drowning Response, drowning people cannot voluntarily control their arm movements.
5. From beginning to end of the Instinctive Drowning Response people’s bodies remain upright in the water, with no evidence of a supporting kick.
Furthermore, it takes 20 to 60 seconds for the person to go under the water for good. So, know the signs that someone is in trouble (just because they’re splashing and crying for help doesn’t mean something isn’t wrong). Experts also point to some other signs:
- Head low in the water, mouth at water level
- Head tilted back with mouth open
- Eyes glassy and empty, unable to focus
- Eyes closed
- Hair over forehead or eyes
- Not using legs – Vertical
- Hyperventilating or gasping
- Trying to swim in a particular direction but not making headway
- Trying to roll over on the back
- Ladder climb, rarely out of the water.
Experts suggest, if someone falls in the water, ask them if they’re okay; they won’t answer if they’re in real trouble. And, if you have children, please keep a close eye on them.
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My three-year-old girl is a savings machine - June 10
It was about a year ago that I started dropping loose change in my daughter’s piggie bank. I thought it would be a nice way to give her some fun money and to start teaching her about saving.
She earns a couple of quarters for being good for the babysitter, for helping clean up her toys and for listening well. That’s her “job.” So far, she has about $15 stashed away in that bright, pink piggie. A couple nights ago, she asked me to help her count it and figure out how much she had, since she wants to get a Barbie horse.
My daughter can count very well for her age, although she did have some trouble distinguishing the type of coin she had. Actually, she called everything quarters – even the large collection of pennies she had.
Any time we add another coin to the bank since, she asks me if she has enough to get her horse. “No, Sweetie, but you’re getting there,” I tell her. The best part is she hasn’t really whined or thrown a temper tantrum about it; she’s just focused on getting the money she needs.
Now, the point is that she’s learning that buying things isn’t as easy as going to the store. She has her eyes set on the prize, and she knows what she has to do to get it. We even made a special trip to the toy store, so she could see exactly how much she needed to get that prize.
I’m hoping that, by learning now, she won’t become one of those people who relies on credit cards to buy stuff she doesn’t need.
For those of you with kids, when did you start teaching them the value of saving money? How did you do it? Share your ideas with us!
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Action needed! - June 10
A little while back, I told you about the grassroots movement and how it was working to protect your debit card. If you haven’t heard the news, the Financial Reform Bill that includes the Interchange Amendment attached is making its way through both houses of Congress.
What does this mean for you? The Interchange Amendment could have disastrous impact to your credit union. According to the Colorado Credit Union Advocates, the interchange provision reduces merchants’ financial responsibility for the benefits received from a convenient card payment system.
Why is this important? Think of the interchange fee like electricity or rent. It is a cost of doing business. Government rate controls on interchange likely will drive up costs for credit unions and members to compensate for the increased fees.
What can you do? You can urge your representatives to oppose the bill by sending a letter through the CU Advocates website. The site e-mails a pre-written letter to your specific representatives, telling them that you would like them to oppose the bill.
There probably should be more regulation on the financial industry to help us avoid a similar recession. However, the Interchange Amendment is going to have a major impact on credit unions and should be cut from the bill.
Take action today!
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To be a CEO. . . - June 10
I wouldn’t say I have huge aspirations of being the guy running the show at large business, since I’m sure there are a lot of reasons why it wouldn’t be fun being a CEO (see: BP oil spill). On the other hand, I would imagine the pay would be life changing.
In fact, the Denver Post ran an interesting article just this past Sunday that detailed exactly how much some of the top executives make. Take Oracle’s CEO Lawrence Ellison who brought in $84.5 million last year. Then, there’s Gregory Maffei from Liberty Media who claimed $87.5 million in compensation.
First, let’s be clear: That isn’t just all cash. As the article points out, it includes stock options and bonuses, but still, that is a nice chunk of change. Overall, the top 50 Colorado companies that were studied showed that the executive salaries rose from $283.8 million in 2008 to $370 million last year, according to the article.
What I found most interesting is probably the most depressing part. The article details how long it would take someone earning the mean annual wage in Colorado ($45,990 a year) and the minimum wage ($15,142 a year) to earn Maffei’s $87.5 million.
For the mean annual wage of $45,990, it would take 1,902 years. Minimum wage workers would need 5,778 years to make that kind of money.
Then, the reporter turns the tables: It would take Maffei one hour and about six minutes to earn the mean annual wage. To earn the minimum wage, Maffei would need just 21.6 minutes.
Let me first say: Good for him. He’s got himself a job that earns a nice salary. Secondly, to Mr. Maffei, would you buy me an iPhone 4 and a MacBook Pro, please? After all, that would be pocket change to you, right?
Let us know what you think.
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There’s music in the summer air - June 10
Take a look around, and you’ll see people out enjoying themselves in the beautiful Colorado summer. After winter, it’s always nice to get out and play.
This summer, Premier Members is happy to be a co-sponsor of the City of Westminster’s Summer Concert Series, a tradition we carried over from Colorado United. The free concert series kicks off on June 24, 2010 at 7 p.m.
The first four concerts will be held in City Park, 10475 Sheridan Blvd., and the final concert is scheduled to be held at the Irving Street Library Park, 7392 Irving St. Concerts run from 7 p.m. to 9 p.m. This year’s lineup includes:
June 24: Quemando
July 15: Opie Gone Bad
July 22: The Hot Lunch Band
July 29: The Trampolines
August 5: After Midnight
It’s a family-friendly night of music in the gorgeous Colorado air. Sound like fun? Then, you might just want to get over there and enjoy some free music.
For weather concerns the day of the event please call 303-412-8761 ext. 428 or visit their Web site.
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Save money and still drive this summer - June 10
Memorial Day weekend has come and gone, but a good portion of the summer driving season is still ahead of us. That likely means gas prices are going to keep creeping up, putting an extra squeeze on many people’s wallet.
So, does that mean you just forget the summer road trip, or does it mean you start being smart about driving? MSN Money ran a great article from Forbes.com today, which offered tips on how you can save money while driving.
Here are the tips I felt were most important:
Drive Smoothly: Aggressive driving, sudden starts and stops can all affect gas mileage poorly.
Maintain tire pressure: The right pressure in your tires can make a difference, so keep them properly inflated.
Obey the speed limit: As unbelievable as it is, most cars’ performance starts dropping after 60 mph.
Nurture the engine: Regularly scheduled oil changes, proper fluid levels and routine maintenance keeps it performing well.
Use the right oil: Follow the manufacturer’s recommendations. The right oil can make a difference.
Multitask: Combine errands, so you don’t have to drive as often.
Use the cruise control: It’ll help regulate your speed, so you’re not needlessly accelerating on the highway and wasting gas.
There is nothing wrong with being smart with how you drive. In fact, I’ve already been doing some of these tips in my own daily driving, so it’ll be interesting how adapting more of them can help my fuel economy.
Another tip you can consider: Look in to Smart Trips, a great resource for people along the northern Front Range.
What other tips do you know? Share them with us here or over on Facebook and Twitter.
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