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Return of the Master
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12 ways to survive until payday
12 ways to survive until payday. Last payday seems like a distant memory and for most of us, the wait for more cash still isn't over. Luckily with my nifty savings guide you should make it through this financial drought.
Counting the days until payday can make you feel miserable and, if you're anything like me, the wait is often even more painful in January.
Many of us got paid earlier than usual in December, which can make the gap between paydays an excruciating six weeks. What's more, you may well have spent more than you can afford on yuletide extravagances and New Year revelry.
Taking out a payday loan might seem like a tempting way to last the month but this shouldn't be necessary with my 12 top tips for scrimping and saving.
1. Don't bury your head in the sand
Work out exactly how much money you have left and how much you need to live on before you get paid. Remember to include all of your expenses such as energy bills, lunches and even bus fares.
2. Come clean to your creditors
If you know there is a good chance you will need to exceed your overdraft limit this month, approach your bank, explain the situation and ask for a temporary extension. This is much better than paying a fine for exceeding your limit without the bank's permission, damaging your credit rating in the process.
Alternatively if you have to use credit, try to do so as cheaply as possible. Using a credit card that offers 0% on new purchases could help give you some breathing space, but you must remember to pay off what you owe before the offer ends and interest rockets!
3. Cut back on luxuries
Think very carefully before going out for dinner or enjoying a post-work trip to the pub. Why not find alternative ways to amuse yourself such as watching DVDs you were given for Christmas or tackling that copy of War and Peace sitting on your bookshelf?
4. Always pay cash
It's easy to convince ourselves we're not spending when we put our purchases on the good, old plastic but the reality is harder to ignore when you hand over a crisp £20 note.
Set yourself a strict limit on how much money you can withdraw each week and try not to visit the cashpoint once it's gone. If there is a social occasion you can't miss, leave your cards at home. Budgeting is often the furthest thing from our mind after a third glass of our favourite tipple.
5. Pound the pavement
Walking to work could save you a packet on petrol. If your destination isn't within walking distance, brave public transport. Under no circumstances are you to set foot in a taxi (unless you're driving it!)
6. Watch what you eat
Shopping online is a fantastic money saver. MySupermarket.co.uk compares the prices of thousands of items sold at Tesco, Sainsbury's, Asda and Ocado. Then once you've completed your selections, you can buy your shopping from the store that sells your goods at the lowest price.
Alternatively, have a rummage in your freezer. Forgotten foodstuffs can easily be transformed into delicious dinners.
7. Call in your debts
If anyone owes you money, ask for it back. You shouldn't feel like a Scrooge if you need the cash during these tough times. Casually mention you're a bit short to whoever owes you. Hopefully they'll take the hint and offer to pay you back.
8. Raid your piggybank
Spare change soon adds up. Research by esure home insurance last year found that the average sofa hides an astounding £58.20 in change during its lifetime. Just think how much could be lying around your house!
9. Have a premature spring clean
Did you really want that ceramic pig your auntie gave you this Christmas or the boxset of a TV show you haven't watched since you were 15? Flog them for a few quid on eBay. It might seem cold hearted but desperate times….
10. Don't take shortcuts
Using your credit card to withdraw money from a cash machine might seem like a good idea but beware of hidden pitfalls. The interest rate on a cash withdrawal is normally higher than standard card purchases and you'll probably be charged a fee to withdraw cash.
11. Swallow your pride
OK, it's embarrassing to admit you're having cashflow problems but a loan from friends or family could be a life saver. Plenty of us have loved ones who would be happy to help. Remember - they've probably been in a similar position at some point themselves. However, make sure you can repay them or you risk damaging your relationship.
12. Don't ignore bills
You might be tempted to forget about that whopping gas bill until after payday. This is never a good idea. You will probably end up with a late payment fee and even worse, a black mark on your credit file. This is something none of us can risk now you need a squeaky clean credit history to borrow money!
If you think you're paying too much for utility bills, you could save £430 by switching energy supplier today. One of easiest ways to compare prices from a range of suppliers is to use an online comparison service such as BeatThatQuote.com's utilities tool.
Think ahead
When your next pay packet finally does arrive, don't shout Hallelujah and hit the shops, be sensible and use this experience as an incentive to get your long term finances in order.
Try not to spend your entire salary and instead start squirreling away some savings each month. A tax free ISA can be a great way to save for a rainy day. Alternatively, easy access accounts let you have access to your savings any time without any penalties.
Finally, check you're not paying too much for other essential spends such as insurance by using our online price comparison tool. ( mailcompare.mailonline.co.uk )
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Does a College Degree Really Matter?
Gerry joined a Fortune 100 company right out of high school starting out as a secretary and working her way up to marketing manager. Gerry performed well and was highly regarded. But when the company she worked for merged with a larger organization and moved its headquarters across the country, Gerry found herself looking for work for the first time in 15 years. Unfortunately, after months of searching, all she's been able to land are secretarial assignments. Why? Gerry believes it's because she didn't go to college.
While in the past, a college degree may have been optional, these days it seems to have become the minimum requirement for getting a good job and succeeding in the workforce.
Jeff Blass,* a 40 year old mid-level manager at a major food company, believes his lack of degree has stalled his advancement opportunities. "It didn't keep me from moving out of the mailroom," he says. "However, it seems to be holding me back now."
Nicole McMillen, executive director for Pre-Paid Legal Services, left college to get married and start a family and just recently entered the workforce. Ostensibly, McMillen would have had several strikes against her: no degree, no experience and a late start to boot! Yet on the contrary, McMillen says she had no trouble finding work -- or getting promoted.
"I suppose it depends on the type of position you're looking for," says McMillen, who represents her firm to large corporations and other employers. "For me, it's all been about performance and results."
No one disputes that a college degree opens doors.
"Most college degrees don't necessarily qualify the graduate for anything," says Charles Murray, co-author of "The Bell Curve," a book which explores the role of intelligence in American life. Murray contends that a college education need be no more important for most white collar professions as it is for, say, a basketball player. "Walk into Microsoft or Google with evidence that you're a brilliant hacker, and the job interviewer is not going to fret if you lack a college transcript," Murray says.
Murray predicts that providing an employer with evidence that you are good at something without the benefit of a college degree is become more acceptable as companies become more sophisticated about what it takes to do the job and what a college education actually provides.
For example: Terry Jones, CEO of Travelocity, was a history major at Denison University; Murry Gerber, President and CEO of Equitable Resources, was a geology major at Augustana College; Kay Krill, CEO of Ann Taylor, majored in psychology at Agnes Scott College, while Anne Sweeney, president of Disney-ABC Television Group was an education major at the University of Rochelle.
Then there are CEOs like Carly Fiorina (formerly of Hewlett Packard) who majored in medieval history and philosophy and Michael Eisner (formerly of Disney) who majored in English and never took a single business course.
Or as McMillen puts it, "I've found that knowing and believing in your abilities, presenting yourself in an articulate, polished manner, and making an effort to connect with others can overcome -- and even make the interviewer overlook -- that missing credential at the bottom of your resume." ( msn.com )
*Last names changed.
READ MORE - Does a College Degree Really Matter?
Six Hot Shots Who Made It
Some of today's most successful people don't have a college degree. But what they lack in academic credentials, they make up for in tenacity, brains, guts and strong business sense.
Richard Branson
In 1970, Richard Branson founded Virgin as a mail order record retailer, and not long afterward he opened a record shop in London. Two years later, the first Virgin artist, Mike Oldfield, recorded "Tubular Bells." Since then many household names, including Ben Harper, Fatboy Slim, Perry Farrell, Gorillaz, Lenny Kravitz, Janet Jackson and The Rolling Stones have helped to make Virgin Music one of the top record companies in the world.
Branson sold the equity of Virgin Music Group -- record labels, music publishing and recording studios -- in 1992 in a $1 billion deal, but he remains chairman of Virgin Group, which today includes Virgin Atlantic, Books, Games, LifeCare, Limousines, Megastores and Hotels.
Barry Diller
Barry Diller started his career in the mail room of the William Morris Agency after dropping out of UCLA after one semester. He was hired by ABC in 1966 where he created the ABC Movie of the Week, pioneering the concept of the made-for-television movie.
At age 32, he became president of Paramount Pictures, which produced a string of successful television shows (Laverne and Shirley, Taxi, Cheers) and feature films (Saturday Night Fever, Raiders of the Lost Ark, Beverly Hills Cop) under his helm. From 1984 to 1992, he was chairman and CEO of Fox Studios and was responsible for creating the Fox Broadcasting Company. Today, Diller is the chairman of Expedia and the chairman and CEO of IAC/InterActiveCorp, which includes Citysearch, Evite, Home Shopping Network, Lending Tree, Match.com and Ticketmaster .
Matt Drudge
Pundit, blogger and radio personality Matt Drudge is best known as the proprietor of the Drudge Report Web site. "The only good grades I got in school were for current events," he has said of his education. Drudge opted out of college and floated among a number of odd jobs including convenience store clerk, book salesman and grocery store sales assistant.
In 1989, he moved to Los Angeles and took a job in the gift shop of CBS studios, eventually working his way up to manager. The inside scoop he learned while in this position was allegedly part of the inspiration for founding his gossip rag The Drudge Report. The tabloid made gained notoriety when it was the first to break the news of a relationship between White House intern Monica Lewinsky and President Bill Clinton in 1998.
Janus Friis
Named to Time Magazine's 2006 list of 100 most influential people, Janus Friis holds no formal education. He worked at the help desk of CyberCity, one of Denmark's first ISPs and later worked at Tele2, the leading alternative consumer oriented pan-European telecom operator. It was at Tele2 where Friis met Niklas Zennström, with whom he co-founded the file-sharing application KaZaA and Skype, the peer-to-peer telephony application. In early 2006, Friis and Zennström sold Skype to eBay for $2.6 billion.
Rachael Ray
Rachael Ray's career started at Macy's department store, first at the candy counter and then as the manager of the fresh foods department. Ray quickly followed with stints in gourmet markets and restaurants in New York. At gourmet food market Cowan & Lobel, she began a series of cooking classes -- 30 Minute Meals. Those classes became so popular that she was soon doing weekly segments for the evening news.
Today, Ray is an Emmy-winning television personality who hosts a nationally syndicated talk show and four different programs the Food Network, publishes her own magazine, and has written multiple cookbooks.
Jeff Valdez
Named one of AdAge's Marketing 50 in 2005, Jeff Valdez grew up the youngest of nine children in a housing project in Pueblo, Colorado. As a young adult, he moved through several jobs and ended up as a drummer with a lounge band called Wildfire. Valdez later returned to Colorado after about 10 years of touring and opened a comedy club where he did stand-up. In 1990, he threw his hat into the political ring and made a failed bid for mayor of Colorado Springs. But in 2004, he launched Si TV, the first all-English language network targeting a Hispanic audience.
Anna Wintour
Best identified by her trademark sunglasses and pageboy hairstyle, Anna Wintour is an icon of the fashion world. She reportedly attended North London Collegiate School, but never graduated. She started in 1970 working in the fashion department of Harpers and Queen in London. In 1976, she was named fashion editor of Harper's Bazaar, followed by a brief stint at New York Magazine, three years as creative director of American Vogue, and finally named editor of British Vogue in 1986.
In 1998, she became editor-in-chief of American Vogue. Wintour's work style is so notorious, the novel "The Devil Wears Prada" and its subsequent motion picture are said to be based on her. In recent years, she's focused on many philanthropic endeavors including raising more than $10 million for AIDS, putting Vogue's support behind women-owned businesses in Kabul, Afganistan, and promoting various post-9/11 campaigns. ( msn.com )
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Five Secrets to Working With a Recruiter
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Four Secrets to Always Having a Job
How do some people always manage to be employed and on track for continued success? They follow the four secrets to staying employable.
1. Keep your definition of a "good job" reasonable.
As we progress professionally, we acquire skills and experiences that often afford us greater opportunities in terms of salary and benefits.The problem lies in making the assumption that once we are offered a larger compensation package, it becomes the starting benchmark for any job we take in the future. The result is the "golden handcuff effect" - a sense that we are held hostage by our current job because there's no place else to go.
Smart workers know each job opportunity provides criteria that must be weighed differently against our wants and needs. Staying employable means simplifying our list and planning for the day when we won't have the same level or type of perks. This keeps job options more plentiful and movement to new positions easier.
2. Use the "3x3x3 rule" to create and implement your own professional development strategy.
Forget about waiting for your annual review; smart workers take the review process into their own hands. Assess your professional strengths and weaknesses. By building a game plan to leverage the first and minimize the second, you can identify how you plan to stay employable. I encourage individuals to follow the "3x3x3 rule" for skill development:
- A. Choose three skills you want to enhance.
- B. Identify three ways in which you could learn and grow each skill.
- C. Articulate three examples of how you can demonstrate your enhanced skills in this area to your employer.
3. Be the "go-to" person for something employers need.
Like depositing into a retirement fund, employees use the early part of their careers to develop skills to accumulate professional wealth. Sadly, after a decade or so, some employees believe they've earned the right to live off of the interest accrued from their efforts. Midlife often brings about changes in how an employee wants to allocate his or her time (ie. wants more time with a spouse, family, home, hobby, etc.). Smart employees know this doesn't have to diminish the quality of the time they put into their careers. To stay employable, focus on being the "go-to" person for a particular problem, task or technique. Building subject-matter expertise in a specific area that's in demand within the workplace will create a personal insurance policy that ensures you'll always be the "go-to" employee who's in demand.
4. Create a board of advisers for your company of one.
Smart individuals don't do surgery on themselves, pull their own teeth or represent themselves in legal matters. They defer to professionals who have the training and expertise that gets the best results. Smart employees do the same with their careers. In an age where employees are in essence a company of one -- responsible for keeping the services they deliver in demand -- doesn't it make sense to seek the counsel of those who can help you make the best career decisions? Smart employees solicit the advice of individuals they think approach career success in a manner they admire. Whether it's a relative, co-worker, former manager or even a professional career coach, seeking advice from those who know more than you will give you the perspective needed to be proactive and successful at staying employable.
Career paths are full of twists and turns; they're rarely straightforward. To avoid roadblocks, use the four secrets outlined above and you'll be able to make course corrections that will help you stay employable. ( msn.com )
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Six Job Hunting Myths Debunked
Myth No. 1: You should keep your resume to one page; any longer, and hiring mangers won't read it.
Few employers are so rigid that they'll toss out your resume because it's more than a page long. What's more important is that the document is interesting to read, tailored specifically to the position you are applying for -- and perhaps most important -- error free. In fact, 84 percent of executives polled by Robert Half International said it takes just one or two typographical errors on a resume to remove a candidate from consideration for a job opening; 47 percent said a single typo can be the deciding factor. While a one-page resume is preferable for entry-level candidates, those with five or more years of experience may require an additional page to describe their work history and accomplishments. Keep in mind, however, you never want to lose a hiring manager's attention by providing irrelevant details.
Myth No. 2: It's pointless to request an interview with a company that isn't hiring.
Even if a company isn't planning to add staff anytime soon, chances are you can land an informational interview. Look to set up a meeting with someone -- preferably a hiring manager -- who can tell you more about the organization and provide answers to questions you can't find online or in the company's marketing materials, such as its short- and long-term business goals. Many employers will be willing to sit down with you if you show genuine interest. An informational interview probably won't result in a job offer, but you will build your professional network and, in the process, may learn of future opportunities with the firm.
Myth No. 3: If you've applied for a position and haven't heard back, it's safe to assume the position has been filled.
Just because a company hasn't contacted you doesn't mean they aren't interested. It's not uncommon for hiring managers to be so busy they delay contacting candidates for as long as two months after posting an employment ad. Don't let this discourage you; instead take action to see where you stand. An overwhelming 94 percent of executives surveyed by Robert Half International said candidates should contact hiring managers after submitting application materials; 82 percent of respondents recommend doing it -- whether by e-mail, a phone call or personalized letter -- within two weeks of submitting a resume.
Myth No. 4: The most-qualified candidates always get the job.
While employers want to hire professionals capable of doing the job -- and carefully compare candidates' education, skills and experience against the requirements of the position -- they also depend on intuition when making a decision. Forty-six percent of executives surveyed by Robert Half International said they rely heavily on instinct when making hiring decisions; another 49 percent follow their gut at least some of the time. The traits that make an employer intuitively want to hire someone often involve soft skills -- that is, your ability to get along with the rest of the team. So, if you're interested in a position for which you meet only the minimum requirements, don't immediately dismiss it. Your personality may put you on par with someone with more experience than you.
Myth No. 5: There's no room for salary negotiation in today's job market.
Demand for skilled professionals continues to outpace supply in a number of specialties, and candidates with industry experience and expertise often receive multiple offers. Researching how much those with similar qualifications in your area are being paid will help you choose the best opportunity and negotiate a reasonable rate. The U.S. Department of Labor's Occupational Outlook Handbook is an excellent resource, as are industry publications, such as Robert Half International's annual Salary Guide.
Myth No. 6: When times are tough, take the first job offer you get.
An extended job search can put pressure on you to accept any offer that comes your way, but do your best to avoid accepting a position that may cause more heartache than happiness. Tolerating a job you hate -- whether for a week or year -- can set you back professionally and take a toll on your well-being. You may have to accept a "less-than-perfect" role in certain situations, but don't feel guilty holding out for a position with maximum appeal if you have the financial means to do so. Tapping a variety of sources for advice during your job search often is a smart move. But, like any investigation, you may come across clues that are somewhat misleading. Recognizing common myths early on will make your job-hunting efforts far more effective and help you land the position you seek. ( msn.com )
READ MORE - Six Job Hunting Myths Debunked
Seven Networking Myths
If you let these myths deter you, you may miss out on making important professional contacts and, as a result, career advancement opportunities.
Following are some common perceptions about networking. How well can you separate fact from fiction?
It's "old school."
Fiction. To the contrary, there's clear evidence that networking is gaining popularity. Nearly half (48 percent) of professionals polled by Robert Half International said they're doing more professional networking now than three years ago, perhaps because workers know the vast majority of jobs are never advertised anywhere; instead they are filled through word of mouth.
You need to be an extrovert.
Fiction. You don't have to be especially gregarious or outgoing to make meaningful connections in your industry. If crowds make you uncomfortable, consider creating your own networking opportunities. Invite several of your friends or co-workers to lunch and request that they bring along two other contacts. A more intimate setting may help put you at ease. If you feel shy or flustered, ask questions to shift attention away from yourself. Since most people enjoy talking about themselves, you'll have no trouble keeping the discussion rolling.
Networking is time-consuming.
Fiction. Trade shows and meet-and-greet events aren't the only venues to forge new relationships. You can -- and should -- reach out to people while going about your normal routine -- waiting in line at the supermarket or pumping iron at the gym, for example. Don't miss the opportunity to make conversation with those you meet outside of professional settings; valuable contacts can come from any number of sources.
Only face-to-face interactions pay off.
Fiction. Virtual chat rooms and discussion lists are an excellent way to network with your peers and obtain specific information and advice from the comfort of your own home or office. Becoming a member of an online community, like Friendster or LinkedIn, also can lead to serendipitous -- yet useful -- connections. Just be sure to be polite in all of your interactions and offer useful information to your contacts.
Small talk is a turnoff.
Fiction. Many people cringe at the prospect of making small talk, but it's often the first step to getting a more meaningful conversation started. You don't have to limit yourself to topics like the weather or your alma mater. Ask potential contacts whether they've taken any interesting vacations or eaten at the new restaurant down the street -- anything you'd genuinely be interested in learning about. Also, prepare some stories of your own to share, such as a quirky news item you've come across or celebrity encounter you once had, in case your conversation partner is a bit bashful.
Your contacts will be annoyed if you ask for help.
Fiction. Asking people for information and advice is hardly bothersome, as long as you do so gracefully. In fact, 37 percent of workers polled by Robert Half International said the biggest mistake people make when networking is not asking for help. When soliciting assistance, make it easy for the other person. For instance, if you ask someone to serve as a professional reference, provide that person with a copy of your résumé and let him or her know when a potential employer might be calling.
It's just as important to give as it is to receive.
Fact. Consistently serving as a resource to others is the most effective way to forge long-term relationships. Offer to help whenever you can and always respond promptly to the requests you receive. Forwarding relevant news articles and information to your contacts is another way to build rapport and stay in touch. Many job seekers limit the effectiveness of their networking efforts by believing in myths more than themselves. Overcoming these misconceptions will help you make the most of your activities and develop a circle of long-lasting professional contacts.( msn.com )
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