These Cities Cost Student Loan Borrowers Most

These Cities Cost Student Loan Borrowers MostStudent debt is one of our country’s most pressing problems. As of this year, the total amount of student loan debt has reached $1.44 trillion. Paying back the average $37,000-plus loan will be a challenge for millions of students for decades to come. And for some more than others. This means that loan borrowers will have to focus less on investing and more on repayment, less on contributing to the economy and more on simply balancing budgets.

To be responsible and to flourish do not always coincide. Larger cities with higher housing costs will drain more income from a person than smaller towns, while yet offering unique opportunities and venues that attract younger crowds. It’s a classic catch-22. More, perhaps higher-paying, jobs are in the cities, and so are, quite likely, friends and opportunities. Should a young person, with their whole life ahead of them, forgo the city to repay steep student debt, while in the long-term stifling their social life and career?

Credible.com has helped us answer this question in some form: by compiling a list of “Cities where student loan borrowers struggle with debt the most.” Maybe the answer isn’t to forsake the city in general, but only certain cities that have the unfortunate characteristic of demanding higher housing costs without proportionately offering higher wages.

To compile their list, the team at Credible reviewed data submitted by 8,981 applicants from America’s 23 largest cities. The city that makes it most difficult to repay a student loan is San Jose, California, seizing on average 31.47% of a person’s monthly income in housing and student loan costs. This percentage doesn’t include other expenses like food, transportation, or taxes.  What might come as a surprise to many, Dallas, Texas, ranked least expensive among the top 23 cities, nabbing 26.24% of income.

The full list may be found here. Perhaps the question isn’t whether to move to a city, but in which city one might sustainably live. As student loans are one of the few forms of debt that are essentially impossible to dissolve by bankruptcy, they are here to stay. The road that leads directly to a good life, debt free, full of friends and possibilities, isn’t clear to student loan borrowers at this point. However, thanks to the new study by Credible.com, it’s easier to discern which steps one may take to begin the journey.

FORBES SportsMoney Index: Ranking Money in Sports

FORBES SportsMoney Index: Ranking Money in SportsHave you ever wondered who the highest paid athletes in all of sports are? Or the most valuable teams? The most influential brands? To answer these pressing questions of our time, Forbes compiled a unique index to track and rank money in sports.

Forbes describes the new index: “To create the SMI, we’ve combined all of FORBES’ SportsMoney annual valuations lists (sports teams, brands, athletes, agencies) and proprietary financial data into a single ranking that reflects their monetary success and how their values affect one another. This is the first time that a cross-category ranking of sports business influence has ever been compiled.”

The main factor that makes FORBES SportsMoney Index uniquely comprehensive is its mapping of all connections between brands, agencies, athletes, and teams. This is how the aforementioned cross-category ranking is determined. As a result, the financial world may now study how wealth is truly generated and established in the domain of sports.

Admittedly, for us the benefit is a bit less academic, though nonetheless interesting. When it comes to sports, comparing statistics is one of the most satisfying activities of speculation. Below you’ll find the top 3 brands in sports and the top 3 teams and athletes in soccer, basketball, baseball, and football. And for the fans of other sports, below the top 3 we’ve included the most valuable athletes and teams of every other sport ranked in the order they appear. We have not included the number of connections to other brands each brand, team, or athlete has. For that, and more, view Forbes’ fantastic, complete list here.


Top 3 Brands:

1 (#1) Nike

SMI Connections 9 Value: 27.5 B Revenue: $30 B

2 (#4) Pepsi

SMI Connections 4 Value: 19.4B Revenue: 11.8B

3 (#13) Budweiser

SMI Connections 14 Value: 23.4B Revenue: 10.9B


Top 3 Teams:

1 (#2)Real Madrid (Soccer)

Value: 3.6 B

Revenue: 694 B

Operating Income: 162 M

2 (#3) Barcelona (Soccer)

Value: 3.5 B

Revenue: 675 M

Operating Income: 108M

3 (#6) NYY (Baseball)

Value: 3.4B

Revenue: 516M

Operating Income: 13M

Top Teams in Other Sports:

(#10) New York Giants (Football)

Value: 3.1B

Revenue: 444M

Operating Income: 133M

(#11) New York Knicks (Basketball)

Value: 3B

Revenue: 307M

Operating Income: 109M

(#115) Chicago Blackhawks (Hockey)

Value: 925M

Revenue: 173M

Operating Income: 34.4M

(#144) Ferrari (Auto Racing)

Value: 1.3B

Revenue: 455 M

Operating Income: 7M


Top 3 Athletes:

1 (#5) LeBron James (Basketball Cavaliers)

LeBron James is the only top ranked athlete in the index that doesn’t play for one of the top 3 most valuable teams. The Cavs are the 5th most valuable team in basketball and sit as the 38th most valuable team in all of sports.

Just the 3rd player in NBA history to make at least $30 million in salary (joins Jordan and Bryant) Added Intel and Verizon last year, joining Nike, Coca-Cola (Sprite), Beats By Dre, and Kia Motor.

Total Earnings: 86 M

Endorsements: 55 M

Salary: 31 M

2 (#7) Cristiano Ronaldo (Soccer Real Madrid)

Worlds most popular athlete (200 Million social media followers) Nike, Tag Heuer, Sacoor Brothers suits, and Monster Headphones endorsements. 3-time FIFA best player in the world, made at least 50 goals in over six seasons in a row for Real Madrid.

Total Earnings: 88M

Endorsements: 32M

Salary 55M

3 (#9) Lionel Messi (Soccer Barcelona)

Won FIFA’s play of the year award 5 times.

Total Earnings: 81.4M

Endorsements: 28M

Salaray: 53.4M

Top Athletes in Other Sports:

(#19) Eli Manning (Football Giants)

Total Earnings: 45M

Endorsements: 8M

Salary: 37M

(#58) Jacoby Ellsbury (Baseball NYY)

Total Earnings 21.8 M

Endorsements: 600K

Salary: 21.2 M

(#73) Jordan Spieth (Golf)

Total Earnings: 52.8M

Endorsements: 32M

Salary: 20.8M

(#87) Roger Federer (Tennis)

Total Earnings: 67.8M

Endorsements: 60M

Salary: 7.8M

(#126) Denny Hammlin (Auto Racing – Nascar)

Total Earnings: 15.2M

Endorsements: 1.8M

Salary: 13.4M

(#134) Alex Ovechkin (Hockey )

Total Earnings: 12M

Endorsements: 3M

Salary: 10M

#191 Floyd Mayweather (Boxing)

Total Earngings: 44M

Endorsements: 12M

Salary: 32M

How to Break Old Habits and Adopt a Healthy Lifestyle

How to Break Old Habits and Adopt a Healthy LifestyleNow the holidays are over, and the New Year’s resolutions are kicking in, it’s time to think about sustainability. Whether you are resolved to eat healthier this year, exercise, or even learn a new instrument, you’ll have to think long and hard about how you’ll accomplish your by-the-end-of-the-year goals. The good thing is you’re not alone. Gaining traction on your New Year’s resolution is a matter of forming a new habit. So it’s important to understand how habits work.

Habits are like Cycles

In an interview with NPR, Charles Duhigg discusses his book The Power of Habit: Why We Do What We Do In Life And Business. Everything we’ve made into a routine, from exercising to cooking, from brushing teeth to cleaning laundry, begins with the same “psychological pattern.” This is called a “habit loop.” It’s really simple, actually: every habit begins with a cue, proceeds by routine, and ends with a reward. That’s it!

Let’s look a little closer. A habit begins with “a cue, or trigger, that tells your brain to go into automatic mode and let a behavior unfold.” Then the routine occurs, which is the behavior itself, or the habit. Lastly, the reward is “something that your brain likes that helps it remember the ‘habit loop’ in the future.”

The interesting thing is habits are formed in the part of the brain that has a major influence on “emotions, memories and pattern recognition.” It’s called the basal ganglia. Why is this interesting? Because it’s a separate from the region of the brain responsible for decision making – the prefrontal cortex. And, as a result, when automation kicks in, when habit loops initiate, the prefrontal cortex goes into hibernation.

This is readily available knowledge, at least by quick reference to experience. Think about how difficult the very basics of reading and math once were. We learned by rote memory, by memorizing the alphabet and times tables, and this period of learning required intense concentration. But after a while these things became second nature. It’s because, like any other habit, our focus, determination, and persistence eventually formed habit loops.

Lessons from in the Loop

Because all habits begin with a cue and end with a reward, it’s important, especially if you have big plans for your health this year – to exercise three or four times a week, to cut out sugar from your diet, etc. – to figure out some sort of consistent pattern to follow when you eat, go to the gym, or whatever you may do.

Maybe before a trip to the gym you listen to music you really like as you prepare, and afterwards you treat yourself to some yogurt. When some people crave a sweet snack, they cut up some apples and eat those as substitutes instead.

With new habits, especially healthy habits, old habits are broken. And this means the power of the reward system established by the old habit loop becomes more and more powerless. As you exercise more, your desire to lay around all day will weaken. And as you stay away from sugar, your cravings will diminish.

For more information on habits and the science behind them, you might also be interested in Scientific American’s podcast episode where Dr. Art Markman discusses things like “How to know you have a habit,” “How to work in league with your psychology to from new habits,” and “How we are more likely to succeed when we view failure as part of the process.”

Conclusion

But, most importantly, remember that habits are like cycles: as you reinforce them, they eventually become as automatic and predictable as the sunrise in the morning. Don’t be discouraged by failure. Every mistake is an opportunity to learn, an opportunity to change, and an opportunity to become better at what you are trying to do.

How Millennials are Happy and Productive in the Workplace

How Millennials are Happy and Productive in the Workplace“67% of millennials are likely to share personal details [at work]…while only one-third of baby boomers do the same,” found a 2014 study by LinkedIn.

The work/life balance is an unspoken rule among working people. What happens at home shouldn’t be brought to work, and vice versa. This has long been the idea undergirding “professionalism.” But millennials have challenged this distinction in a very simple but powerful way.

It goes without saying: there are many reasons to keep the work/life distinction afloat. The workplace is not home. And a certain level of professionalism is required to maintain an efficient organization. This is true without qualification.

But what millennials have done, writes Sarah Landrum of Forbes, is widened their investment in the workplace. Work isn’t just an investment of time for them; it’s also an emotional investment. And this isn’t a bad thing. The attempt to roadblock the emotional aspect is not only a misunderstanding of science (the brain is interconnected in unimaginably complex ways), but a recipe for unproductive habits.

How Work + Happiness = Productivity

Many of you, like myself, may think making friends at work would impede upon productivity. But friendships at work aren’t like friendships at home. They don’t involve hanging out, but are held together and formed by self-disclosures in conversations. What does this mean? Simply put: it’s talking about how you feel about what you do, about how the weather is, about your weekend, more than about what you do, Landrum points out.

In Psych 101 you might have learned the simple difference between an acquaintance and a friend. Acquaintances talk about facts. They say to each other, “It’s sunny out. It’s a nice day. I have work to do.” But they don’t go further by disclosing any information about themselves like, “It’s sunny out, I think I’ll go to the park after work because there’s a good area to fish.”

Just to understand this from a millennial’s perspective, think about it this way: If you’re not self-disclosing sometimes to people you talk with every day, you’re basically working with acquaintances. And that means you never learn more about anyone, even after 20 years of work.

In 2014 Censuswide and LinkedIn joined to conduct a survey on 11,500 working professional that spanned 14 countries. They found that “57% of respondents indicated having friends at work made them more productive.”

Conclusion

Millennials get the most out of work by relating to those around them. This doesn’t keep them from being productive. In fact, it makes them more productive. And one reason just might be because they don’t feel like they are working in a world of acquaintances. The emotional investment is a powerful piece to the overall work experience. And it might be the key to productivity in a world where everyone is more and more alienated by technology.

And there’s another benefit. Apparently friendships at the workplace make companies more valuable to employees. As Landrum reports, “When asked whether they’d swap camaraderie for a larger paycheck at a different employer, 58% of men indicated they wouldn’t make the trade. A whopping 74% of female professionals concurred.”

The work/life distinction has a valuable place in a professional setting. But it doesn’t necessarily deny the possibility of self-disclosure. And self-disclosure just may be the key to happiness and productivity in the workplace.

Why Renting is the Better Choice for Millennials

Why Renting is the Better Choice for MillennialsYou’ve probably heard: student debt is over $1.3 trillion. And, according to a report by CNBC, it’s “growing faster than the average salaries for recent graduates.”

For a borrower aged 20-30, the average monthly student loan payment is $351. That’s quite a bit, especially when the median income for millennials remains relatively low. As reported by BusinessInsider.com, “In 2013, the median annual earnings for millennial women working full-time, year-round were $30,000,” states the report, “compared with $35,000 for their male counterparts.” A $351 payment can seem steep, since it accounts for about 12% of income for males and 14% of income for women.

Coupled with other expenses, from car loans to credit card debt, from housing costs to food, student loans are a heavy burden for many millennials trying to scrape by.

So, if you’re a millennial with a lot of debt, listen up. The following are things to consider before you buy a house. Like many others, you might find renting the better path.

Stability

Houses are sought for their stability. Even as markets change, a locked-in mortgage rate won’t. But the stability of a mortgage requires stability in life. Before you house-hunt, begin at step one. Think seriously about how stable your job is, your relationships, and career path. Are you expecting a promotion, or a change of scenery? Do you see yourself in the same job or relationship in five years? If not, a house probably isn’t your best bet.

Especially if you don’t plan to stay in a house long term, you should consider the payoff of picking up and relocating that an apartment provides. The assumption of many homeowners is they’ll be able to sell whenever they want. That, tops, it’ll take maybe a few months to close a deal. But as many learned during the housing crisis of ’08, when interest rates skyrocket, the equity of your house diminishes. The stability of a mortgage is a double-edged sword. There’s nothing to protect your home from future devaluation by the market. This isn’t a decision you should rush into.

Cost

Unexpected losses aren’t just restricted to market change. Other costs to home owning can also set you back significantly. The best thing to do is create a hypothetical budget. As HousingWire.com suggests, “Aim to keep total rent or mortgage payments plus utilities to less than 25% to 30% of your gross monthly income.”

To place the costs of owning in further perspective, imagine that, after you budget, you have $500 every pay period left over. One day you notice your refrigerator isn’t working. You have to buy a new one. You get the new refrigerator and it turns out that the issue is with the electrical wiring going to the refrigerator. You have to pay an electrician to come out, and it turns out your entire kitchen was poorly wired and needs updated. If you don’t have deep savings or a friend who happens to be an electrician, your bills can become, very quickly, too large for a budget with little room for error.

Conclusion

When it comes to renting, however, apartment complexes take care of all major maintenance issues, and many minor issues as well. And, though rent prices might be higher than mortgage prices in some areas, apartment complexes provide amenities that you’d usually have to pay for if you own a house: pools, weight rooms, clubhouses, etc.

If you’ve acquired large amounts of student or credit card debt, it might be a wiser choice to rent an apartment for a few years while you climb out of debt, and stash away some money in savings in the meantime. That way, if you get a house, you’ll be ready for unexpected issues and they won’t break your budget.

Begin Exercising at Your Apartment

Begin Exercising at Your ApartmentThe best deals are those that involve getting the same product or service for a lower price. This is why exercising at home is best. No more gym rats. No more sweat-infused-axe-spray nausea. No more machine hogs.

Think about how much less effort you’ll have to put into preparation for the gym. Let’s talk about getting your apartment ready for exercising.

Goals

Obviously, if your goals aren’t similar to the outcomes desired by body builders, then you won’t need as much equipment as a typical gym. You just want to do cardio? Maybe, then, all you’ll need is a space for a yoga mat. Want to get really buff? The nice thing is, your apartment most likely has a fitness center that already includes some equipment. You’ll only have to make space for what the fitness center doesn’t have.

And don’t just brush off using the fitness center all at once. Research has shown it’s actually easier to form habits, like going to the gym, if you begin with small goals first. Maybe your first time lifting weights shouldn’t be at LA Fitness. Not only might you get discouraged, but missing a few days can turn into a few weeks and then you’ll be back at square one again.

If you want to build muscle, just begin with the basics: a quick ten-minute warm-up, followed by a period of strength training (pushups, pullups, squats), followed by a ten-minute cool down period. As simple as it is, beginning with this kind of routine will prepare your tendons and joints for heavier loads. And it has the added bonus of pushing you to form new habits.

Organization

The only other thing you’ll have to think about is how to store what you need. If you’re just getting a jump rope, you won’t have much of a problem. But if you need a bench press, for instance, you might have to get a little creative if you’re living in an apartment. Pick a space to use your equipment in. But this space doesn’t necessarily have to be used to store your equipment.

Another thing you can do is think about ways in which the storage space for your equipment can be used for other things. For instance, maybe your bench press can hold your plants. Maybe your bars can double as a coat hanger. There’s really no limit on what kind of uses you can put these things to.

Conclusion

If you want to begin exercising, just start at your apartment. Maybe use the fitness center, if your apartment has one. But if not, no big deal. Form the habit of exercising before you make lofty goals for yourself. That way, when the time comes to lift big weights, not only will your tendons be ready, but your mind will be ready too.

Why Smart People Rent: On the Benefits of Renting

Why Smart People Rent--On the Benefits of RentingTrying to decide between renting or buying a home? Of course, buying a home gives the stability of a mortgage. And renting a house or apartment allows for tremendous flexibility of location. But there must be more, right? Is flexibility the only reason to rent?

The Khan Academy has published a video on the difference, mathematically, between renting and buying. They challenge the notion that “buying is always better than renting.” Many people have also challenged the claim. If you haven’t heard, renting is on the up-and-up. According to Appfolio.Com, “2 million new renter-occupied households were added in 2014, while the number of owner-occupied households decreased by more than 350,000.”

Amenities are an often overlooked but important aspect of renting a unit in an apartment complex. If you buy a house, not many conveniences are included. Gyms typically require a $30-$50 per month membership plan. You may have to drive to a far location to play tennis or basketball, or to swim. And, almost certainly, your home will not come with a playground. Imagine all these expenses as monthly fees in addition to your mortgage. However, many apartment complexes include such amenities and more.

Many pro-and-con lists are created for this type of decision. Realtor.Com has a convincing video for the pros of renting. For example, if you rent, you may have access to amenities that, as a homeowner, would not typically be within your reach. Similarly, renters often do not make home repairs. Rather, property managers and landlords take care of them. Many apartment complexes have onsite maintenance and even 24/7 emergency maintenance. Everyday maintenance issues are taken care of by property owners or landlords. Furthermore, you may wake up to an upgraded wifi network, new central air unit, or a newly carpeted hallway.

What renters lack in ownership they gain in freedom. If you don’t like your neighborhood, feel an itch to move, or want to explore the world, renting is a good option for flexible people. Leases aren’t mortgages. With renting, you aren’t locked in for 30 years.

The decision to rent or buy is one of the more important decisions you’ll have to make. The worst thing to do would be to listen to cliches. As we have seen, renting isn’t just for people who want flexible living arrangements. There are reasons to rent long-term.  It is not accidental that rental properties are thriving: the numbers don’t lie.

Renting has many appeals, from communal living to practically maintenance-free living. And renters don’t need to acquire realtors. Many apartment complexes now have their own websites. Utilizing the tool ApartmentsForUs.Com proves that finding the perfect apartment in this day and age is a breeze thanks to the rise of digital marketing.

Boost Cell Phone Reception in Your Apartment

improve cell phone signal in apartmentNot much is more frustrating than trying to talk on the phone when your cellular reception is low. From broken sentences to incomplete words, the conversation is pretty much incomprehensible. The most obvious thing to do is keep your phone charged. A full battery guarantees the best hardware performance. But aside from finding the sweet spot in your apartment, there are a few things you can do to improve your cell phone service.

Wi-Fi Calling

Most phones now have a Wi-Fi assistance option. This is certainly the future of voice calling, and it’s free. All you need is an internet connection. And if your phone doesn’t have a Wi-Fi assisted option, you can simply forego your phone’s default voice calling by downloading any of the number of free Wi-Fi calling apps available on app stores. You can also get free texts through these apps also.

Purchase a Femtocell

A femtocell is a powered base station that connects to your internet service in order to amplify your cell phone signal. It’s basically an in-house cell tower. Through the Wi-Fi, a femtocell bridges the gap between the cell phone tower signal and obstructions (such as your house, its walls, and objects inside the house). It also reduces the number of cell phones using the cell tower directly, thus improving your signal.

It’s a fairly inexpensive solution to what might be a long-term problem. Before you go out and purchase one, research which femtocell might be best for you.

Signal Booster

Another option is acquiring a signal booster through your wireless carrier. This device basically boosts signals from anywhere in your house. For instance, if you can get two bars when you stand nearby the microwave by the back door, placing a signal booster in that area will spread the signal throughout the house, and in many cases will improve upon it.

Basically one of the only free options for improving your cell signal is to connect your phone to Wi-Fi (if the option is available). No matter what you choose, be sure to research to determine the best option to fit your needs.

 

Tips for Working from Your Apartment

working from homeWorking from home can be a huge blessing for some people: you can drink as much coffee as you want! For others, it can be a death sentence. From childcare and errands to cleaning the house and Sportscenter, some distractions you’ll find at home don’t exist at the workplace. But distractions don’t have to ruin the experience for you. These tips will help you make the most of working from home.

Create a Workspace

This is one of the easiest ways to remove distractions. Create a workspace you’ll enjoy seeing and working in. Make it extremely personal. You can do this: you have the freedom of your home. But whatever you do, leave that television in the living room. And never bring your phone or phone charger to the workspace. You’ll probably want a coffee pot though, right?

Dress like You’re Working

I know, it’s very tempting to stay in your pajamas all day. But it might also encourage you to take a nap, watch TV, or check your Instagram. This is because you’re basically dressed to lounge around. Continue with your normal morning routine when you work from home, but instead of going in to work, you’ll be able to just go to a different room in your apartment. You’ll feel more energetic and ready to work if you don’t make working from home like a day-off.

Take a Walk

When you’re feeling drowsy or uninspired, simply take a break. But don’t just watch TV or check your phone. Get outside the apartment. Take a walk around the neighbor or exercise for half an hour. Make sure you’re off the clock. But getting your mind off work every once in a while might actually boost productivity and energy.

Working from home can be extremely rewarding. Follow these tips and you’ll be just as productive, if not more so, than when you drive to the office.

How Renting is Greener than Owning

renting is greener than owningWhen you think about it, the average apartment unit size per family size is probably smaller than the average house size per family size. This, at the outset, gives an advantage to renters: with a smaller area, you’ll use less energy to provide heating or cooling to satisfy the same amount of people. But some statistics, provided by the Federation of Rental-housing Providers of Ontario in 2012, may surprise you. It turns out that renting is significantly greener than owning.

Statistics[i]

APARTMENTS ARE GREENER THAN SINGLE FAMILY HOMES

  • 65% less energy use per household
  • 40% less water per capita
  • 60% less waste 10 km shorter commute distance to work

RENTERS ARE GREENER THAN OWNERS

  • 50% less energy used per household 8.4 km shorter commute each day
  • 32% less likely to use a car
  • 150% more likely to take transit
  • 175% more likely to walk

This is good news. Not only is the rental market booming in the United States, but other green initiatives are combing to create a market climate better for the environment and better for our wallets.

Could there be a better time to rent?


[i]Federation of Rental-housing Providers of Ontario. (2012, February 08). Apartment Living Is Green. Retrieved August 23, 2016, from frpo.org, http://web.archive.org/web/20140208064830/http://www.frpo.org/documents/2012%20Apartment%20Living%20is%20Green.pdf

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