Questions...Questions...Questions!

A while ago we had to examine a scholarly journal that pertained to our specific major and I was hesitant because all the examples used in class were science related. It seemed as if it would be easier for a science major to find one than for me, considering I am a Finance major. However I found one, and it was one that I actually enjoyed exploring.

The series of journals are observations, studies, analyses of different aspects that contribute to the economy and financial planning. The author seems knowledgeable due to the terms and statistics used, and analyses given. The point of the articles is to inform and challenge its readers to think outside their normal box. The readers would be considered anyone who deals with financial planning whether as a profession or personally.

According to Linton et al.’s Framework is broken down into three sections:

~Conventions of Structures

~Conventions of Reference

~Conventions of Language

For Structures, each article varied however in general they were written to present different prominent topic. For reference, several articles used statistics and quotes from respected people in their field. I think this gave the journal credibility. It seemed to be that the author was building off other people’s findings to the extent they analyzed it and left enough of the topic open for us to analyze and derive our own conclusions. When it comes to language, some articles were directed towards certain age groups, or genders, however it wasn’t exclusively for them. The language and tone used was used to convince you to think more about it.

According to Swales Genre Model there are three moves related to academic writing. Move 1, the financial planning journal reviewed items of previous research, like statistics. This information supported the author’s goal of presenting enough information to allow its readers to be able to make an informed conclusion for themselves. Move 2; the journal hit the step of question raising. In numerous articles it asked questions to get us to think before and after reading the article. I found that useful because I am the type of person who loves to think and analyze different situations. I am defiantly and observing type of person. Finally Move 3, the journal hit on the step of outlining purposes. For all of them the purpose was to allow us to come to our own conclusions and form questions ourselves.

Being someone who fits into the intended audience I believe epistemology allowed us to see and understand the world we are in and how we are in the world. By the articles asking questions, I believe it really allowed the audience to develop a better understanding of those things. Whenever you ask questions you can develop discussion and discussions lead to new ideas and ways of looking at things.

Are You Proactive?

Our economy has slowed down in the past year. We are in a recession. We are always hearing people complaining about it and how things are so hard. I have been one of those people. Jobs are being loss or pay is being cut, and while this is happening prices are going down with it, some are increasing. Not a fun thing.

This article I read was called ' Recession Creates Proactive Consumers.' It caught my attention because the way I have been viewing the recession is it has brought stress amongst a numerous amount of people. After really reading it, studies conducted have shown the opposite. It said that people are taking a more proactive approach on retirement, debt management, and personal finances. It has also showed that people are less stressed financially and are proactive in improving their situation.

The stress point was a shocker for me. I would have never thought. Have you noticed a higher number of people stressing because of the recession? What about people being more hands on when it comes to planning? I know I have seen people more hands on. For example my parents have sat down more and discussed retirement plans and their personal finances.

This article has made me think when we get out of the recession will people's attitudes change or will it be the same? I guess only time will tell.

What Are Your Chances of Getting a Job?

I have really found some of the articles in this journal to be interesting and making me think a great deal! I figure why not get ahead on my blog post, or catch up if need be.

The one I just read was called 'Hiring Strategies that Work.' It caught my attention because I am always talking with friends about getting jobs after college and what companies look for so that we are not apart of the statistic of grads graduating without a job. The article mentioned that companies are looking at potential employees from word of mouth. That reminded me of a saying "Its not necessarily what you but who you know." So networking and inquiring about a company is important. The next thing they really look at is the interviews, resumes, references, and phone interviews. Thank goodness for the career center here because they have a ton of resources to help with that!

Since I am a financial management major they predict that for those looking for a job in the next 12 months things will be pretty good. They say that about half of all the firms will be increasing their employment over that time and only five percent will be decreasing. Meaning the remaining 45 percent wont have much change. Those are pretty good odds if you ask me.

This article gave me hope and ideas of things that I need to work on in order to land a job post graduation. Hope this prediction is right though and nothing makes it take a turn for the worst.

For those who aren't a financial management major, how is your field of employment looking for when you graduate? I have heard that with the economy being the way it is, things have been tough but I am not sure for which fields. Would love to hear your feedback!

Can You Buy Happiness?

We are constantly buying things. Most of the time we catch ourself buying wants rather than needs. Its called leisure consumption and it has been said to make people happy. Don't think this doesn't apply to you, because Im sure there has been times where you have wanted to dine out or buy a new outfit or go on a road trip to visit your friends. That is all leisure consumption. According to the article 'Can You Buy Happiness', other leisure consumption items include, vacations, cars, appliances, clothing, food, and drinks. It even includes charitable donations!

What about these things makes people happy. Well according to the article it is having that social connectedness. Feeling like you fit in with people.

Is money really so important to you that it is the main thing you worry about? Would you take a job you hate as long as it paid well. Why do you want a high paying job? Is it to be able to consume leisure items? The title of this article takes me back to what I want to do with my life post-graduation. I have always thought that you can in NO way buy happiness, and I still believe that. I am the type of person who will take a low paying job as long as it is a job that I can be excited everyday about doing and am helping other people.

Do You Really Need It?

Well I have realized that the previous article I wrote about was not the correct type of journal to be used for the assignment. So I continued to search some more and found a journal! Finally!

Anyways, it is called 'Journal of Financial Planning'. For the first article I decided to take a look at, was titled Necessity or Luxury. A little sidenote, titles play a huge role in what i decided to read. If it sounds interesting I am more likely to take a look. Well this article was determining the difference between needs and luxuries for the Baby Boomers generation. This generation is consider anyone born post World War II. This generation has chagned what used to be considered neccesities of life. It used to be food, water, shelter, and clothing. Now it is healthcare coverage, internet connection, special occasion gifts, family vacations, elder care, hair appointments, and kids' education.

In order to have these things, this generation has mentioned that they would delay their retirement or share their retirement money in order to have these needs. From the list above would you do that?

The article predicts that it may all one day become a need just like food, water, clothing, and shelter.

I think the only things I would dip into my retirement for if absolutely needed is health coverage, internet, and my kids education. The other things aren't a need for me. I think it's crazy how generations evolve their needs and wants over time. I wonder what it would be in years to come.

Would You Do it?

Blogging has been turned out to be a little different this time around. I had no idea what I was going to write about being a Finance major so I thought this post would be extremely difficult. I searched for a while and decided to go with Forbes.com I found a discussion regarding whether or not it was okay to borrow money from your children's trust fund.

The issue brought up was how it will be repaid and whether or not it would be repaid with interest. It was said that it is okay to do so as long as their are guidelines and deadlines for repaying it. "That said, there is nothing unethical per se about borrowing from the trust in order to provide your family with the basic necessities of life."

In my opinion I don't see a problem with doing so as long as the reason for borrowing from the trust was for a good reason like providing for your family. Also as long as it is repaid in a reasonable time period.

What do you think? If you were short on money would you borrow from your child's trust fund?

http://www.forbes.com/2010/10/11/child-trust-fund-personal-finance-parents-loan.html

Which One Are You?

For me group projects are a love hate relationship. I love the fact that there are different inputs being given to a final product and that the work is shared. However if you get to a group where no one wants to contribute in a shape or form is frustrating. Sometime your better off just doing a project by yourself.

Each group project does in fact have different positions, whether they are "assigned" or not. From the handout in class, it was crazy how dead on the writer was when it came to positions. I have experienced group projects where at everyone has shown up. The controller, the passive/aggressive, the busy guy, the focuser, the tester, the risker, the leader. Personality is a big factor in which one fits you best. Thinking about it I associate with focuser most. I lay out goals and don't stop until they are done. I am also the group member who will always carry my weight and get things done. I don't complain about doing things either.

Im hoping this group project will go smoothly and we wont have any slackers or any problems. From the first meeting it seems as if we wont though so that is good.