Overloaded with Debt and No Jobs to Be Had

By MN Gordon Economic Prism

The Federal Open Market Committee met on Tuesday and Wednesday.  The masses waited with anticipation.  What did they talk about?

Generally, they talked about price controls.  More exactly, they talked about controlling the price of the economy’s most important and fundamental element…its money.  By controlling the price of money they can influence the price of every single good and service there is.

Some believe this is for the good of the people.  That it will somehow boost consumption and stimulate demand.  That it will create a new hiring boom.  We have our reservations.

When it comes to the Fed, they believe – or at least pretend to believe – that with just the right policy mix the economy will be restored to glory.  But what’s the right mix…and how can a handful of bureaucrats with a handful of charts ever know what it is?

After several days of belaboring (Read More….)

The Less-Than-Glamourous Costs Of A Medical Education

MDs will continue to be perceived as a well-paid group. Even “underpaid” general practitioners are very likely to be envied for their income by people outside the medical professional. This image will apply, to some extent, only to those who establish themselves as MDs. Students who do not complete all MD education requirements will be saddled with tremendous debt, typically without correspondingly high income. The image of the wealthy MD will remain with some merit, but it will gloss over very real and significant costs and risks for existing, and especially prospective MDs.

Implicit Costs

Medical doctors need to commit at least seven years, maybe as much as ten or eleven, to hefty student loans and low pay during schooling. Assuming an average salary of $45,000 for at least seven years for an undergrad who forgoes med school, an MD’s wealth is implicitly $45,000 x 7 = $315,000 in the red when starting out.

Supply and Demand

The BLS estimates physician demand to rise significantly faster than average through 2020, with especially strong job (Read More….)

Financial Tools You Can Use to Teach Your Kids Money Management

Providing your kids with a sound financial education is one of the most important steps you can take to promote a better future for them throughout their adult lives. A financial education will provide kids with the tools they need to make better spending and saving decisions. A key aspect of a solid financial education involves providing kids with money management tools and teaching them how to use those tools responsibly.

Checking and Savings Accounts

Many parents will open a savings account for their children very early on in life with birthday and holiday money. They may contribute to this account on their own as well. However, once kids are old enough, they can start working around the house to earn an allowance. When kids are old enough to work at a job outside the house, parents should help kids open a checking account at the bank.

With regular oversight and attention to these accounts, parents can teach children to save a portion of (Read More….)

Getting Out Of Debt Is It A Very Difficult Process?

You may incur debts due to various reasons. It might be that you have to take out a loan for an important purpose such as paying for some medical bills, home repair, your child’s education and so on. This makes you fall in debt which you need to pay back. You can also incur credit card debts due to excessive splurging and buying things on credit and then being unable to pay the entire bill at the end of the month. Whatever be the reason for you to incur debt, it is very much important that you get out of debt fast. Here are some methods that can help you to do away with your debts.

Plan a budget and follow – One of the main reasons for incurring debts is living beyond your means. In order to save enough money to pay back your debts, you need to reduce your expenditure. The only way in which you can do this is by planning out a weekly or a monthly budget. In your budget you should (Read More….)

Kick-Start Your Career

Most people understand that a college degree gives graduates huge advantages in the job market. What is less well understood is the fact that this beneficial effect of further education is amplified during times of economic distress. In recent years, the general unemployment rate has hovered around nine or ten per cent, but the unemployment rate for those who hold a college degree has been half that. The ability to find a well-paying job when opportunities are becoming scarce is invaluable, but this is only one of many ways in which a college degree can help you to kick-start your career.

A World of Opportunities

Employers hire based on the knowledge and skills that a prospective worker can bring to a firm. Pursuing a college degree provides students with a well-rounded educational base that enables them to tackle diverse challenges for the remainder of their lives. It may seem that a course in medieval German literature has very little to do with the real world, but apart from every other consideration, university-level coursework helps students to acquire two vital things that most employers desire: critical (Read More….)

5 Ways To Save Money On Your Education

Thanks to the economy, many people are returning to college to get a better education. More people understand just how important an education is to obtain a professional career. In fact, many college graduates are pursuing their Master’s degree and even Doctorate. However, obtaining a post-education can become expensive. To help you offset some of these costs for college courses, here are some tips.

1. Take Online Classes

These days, returning to school can be really stressful, especially for working professionals who may have a life and family to take care of. Because of this, many people are taking their college courses online. Taking online classes is not only convenient, it is also inexpensive. There are no meal plan fees, library fees, college campus fees and other fees associated with in-person learning. Moreover, many of the Nation’s top programs can be accomplished online, such as IT degrees, criminal justice, Business and software development.

2. Buy Used Books

College veterans know (Read More….)