How To Save Money

The article More Advice Graduates Don’t Want to Hear by Damon Darlin in The New York Times gives information concerning good saving habits. We all know that once money is in our hands it just goes through our hands as sand, so in this article Darlin sayd that graduates should save 10% fo their income and never borrow money to pay for a depreciating asset. Also he mentioned to spot the lattemaniac, young people are getting realy adicted to them and lets face it, they could cost more than five bucks, this one i think isvery easy and I will stop I love lattes, but yearly they are costing me a fortune.

Plus if young people started saving now, when they get to 60 their money will have increased a lot, its better to save small amounts now than save a huge one later (if later you do have money to save).

Here are some of the main advices to save money:

*Buy used things, except maybe used tires.
*Get on the do-not-call list and other do-not-solicit lists so you can’t be tempted.
*Watch infomercials for their entertainment value only.
*Know what your credit reports say, but don’t pay for that knowledge.

*Consolidate your cable, phone and Internet service to get the best deal.
*Resist the lunacy of buying premium products like $2,000-a-pound chocolates.
*Lose weight. Carrying extra pounds costs tens of thousands of dollars over a lifetime.

taxes- How Does The Government Spends Money?

The US Government spends peoples taxes: department of labor, department of education, department of commerce, department of homeland security, environmental protection agency, health and human services, department of energy, NASA, treasury department, department of transportation etc...
The State of New York spend taxes, in jails, community service, medicines, health plan, the homeless, public places (parks, picking up garbage etc)

Saving and Debt

My reaction to the New York Times article:

Couple Learn the High Price of Easy Credit is shocking, because interest partically makes your debts impossible to pay them off. People get into bebt just by buying a house or any item when their interest are high. Finance charges cann be so dangerous because their interest rates are high and if you miss a payment you will get a fee and the interest rates increases even more. Americans do not save money anymore because they have to use that money to pay off their debts and their interests.

Critique of GDP Podcast

In economics class students were assigned to create a podcast about the Gross Domestic Product (GDP), students needed to answer a set of questions provided by Mr. Moloney, The podcast that i decided to review was David-Magnos' , I think that the podcast is well organized, it answers all the questions, with deep and thoughtfull answers.
The recording is pretty unstable the majorities of times, sometimes their voices are too low, also in some sentences I could tell that they were reading the infirmation from a piece of paper, but overall I liked it a lot, it very informatiove and it goes right to the point.
The images are well organized, they appeared when they are supposed to, they go together with the information.
The podcats is interesting, but is not really creative, they just talk about the subject and go from there. I did learn a lot about the GDP, its well explained and gives you the informationfrom the beginning to the end.

US Trading Deficit- getting better?

The article "Rising Exports Putting Dent In Trade Gap" from the New York Times, refers about trade deficit and how trades all over the world are being handle, it informs that 500 companies are going to rely on generating more than 1/2 of their sales in foreign nations. Trade deficit is the excess of imports over exports. The US trade deficit is likely to go down in the furute because the United States buys less goods than they sell, the kind of product that the US is selling overseas are: factory machinery, earth-moving equipment and the digital components used to build a modern telecommunications backbone. A weak dollar can actually help the US economy and the trade deficit because it has became more expensive to buy for European countries.

Taxes-How Does The Government Get Money?

The different types of taxes Americans pay are: federal taxes, state taxes, and local taxes.
Federal Taxes: The actual amount of federal income tax that your business pays each year is determined partly by the type of legal entity you have created.
Americans pay a lot of taxes everything you buy come with taxes for them to pay.
Also people pay taxes when you have a property( house, store etc), this goes to the state.

Students Loans - Beware

I think some of these culinary schools students took out such a large student loans because they were told by the school that as chefs, they would earned at least $40,000 yearly, but the truth is that they make only around $20,000 yearly, half of what students were expected to get or sometimes less, another reason could be that they wanted to get the best education they could because they thought they will have the $40,000 yearly promised by the school to pay the loan.

Student loans is a great way to get educatedwithout worring for maney until you are done with college, I think is a great resource for us, students, that do not have the money right in their pockets to pay for their careers.

I do plan on taking student loans, the amount I will take will be approximately $32,000, hopefully it wont take me all my life to pay it back.