Category Archives: Financial Independence

Akshat Parthhiban, a senior at Thomas Edison EnergySmart Charter School, was named the 2021 New Jersey District Student of the Year from the National Speech and Debate Association (NSDA).(Photo: ~Courtesy of TEESCS)

Akshat Parthhiban, a senior at Thomas Edison EnergySmart Charter School, was named as the 2021New Jersey District Student of the Year from the National Speech andDebate Association (NSDA).

Each NSDA District has the opportunity to name a District Student of the Year award, presented to a graduating senior who best represents the tenets of the Associations Code of Honor: integrity, respect, humility, leadership, and service. Nominees must also demonstrate strong academic credentials and a commitment to the speech and debate community. District winners wereselected and reported to the national office by Friday, May 1, 2020.

Each year, six students who win the district award are selected as finalists for the William Woods Tate, Jr., National Student of the Year award. Finalists interview with a panel of educators during the National Speech & Debate Tournament and the National Student of the Year is announced during the National Awards Assembly.

In addition, Parthhibanhas been accepted to University of Pennsylvania's Computer Science program. Through this program, Parthhiban will earn a Bachelor of Applied Science (BAS) degree.This degree prepares students to utilize, analyze, and create information processing systems for whatever career, advanced education, or personal interests he/she chooses to pursue.

As part of Autism Acceptance Month, students at Valley Road School (VRS) had a very special visitor, a former graduate, Gabriella Smith. Classes from kindergarten to grade five met with Smith remotely. She shared a memoir, My Life With Aspergers, that she wrote in sixth grade. The memoir captured the moment she first learned she had Aspergers Syndrome. Smith went on to explain what autism is and her experience. She spoke of the challenges she faced as well as the strategies she used to face those challenges head-on. At the end of the presentation, Smith interacted with the students, engaging them in a conversation on inclusivity. Students also had an opportunity to ask Smith questions.

Valley Road hosted former graduate, Gabriella Smith, as a guest speaker on Autism acceptance.(Photo: ~Courtesy of Clark Public School District)

Supervisor of Educational Initiatives Christine Broski said, We want to thank Gabby for sharing her story. Her honesty and bravery helped our students gain a better understanding of autism and encouraged a message of inclusivity and kindness. Sharing her memoir today was just as powerful as it was when she shared it back in sixth grade when I had her as a student. I couldnt be more proud!

Special Education Teacher Dominique Smith said, Gabbys story touched the lives of all students and faculty members. She shared a personal story in an effort to encourage inclusion and acceptance within the Valley Road School community.

This month, Valley Road Students wore red, blue, or gold to show their support for Autism Acceptance. They also decorated puzzle pieces that fill the hallways at VRS, and signed a mural to promote inclusion that hangs in the school hallway. Teacher Nicole Semon said, Gabbys story inspired students and staff alike and it promoted an overall attitude of acceptance and understanding of everyones differences and unique strengths.

In addition, students inSmith and Semons classes ended the month by planting flowers in the Autism Acceptance Is Growing Garden. Semon said, This was a great month here at VRS and we are so happy to see and hear all of the wonderful conversations that were sparked from these events!

Middlesex College student Natalie Kazar of Old Bridgewas selected to present her research investigating variations in features of ocean water at the Mid-Atlantic Ocean Forum virtual research poster session held on Wednesday, May 5.As part of an on-going Middlesex College research study that began in 2016,Kazar has been conducting water quality testing at Sandy Hook beach since December 2020. Her findings, which focus on analysis of pH, salinity, dissolved oxygen and water temperature measurements, will take place on the third day of the forum.

Middlesex College student Natalie Kzar was selected to present her research at the Mid-Atlantic Ocean Forum virtual research poster session held on Wednesday, May 5.(Photo: ~Courtesy of Middlesex College)

Kathleen Brennan, department of mathematics chairperson, learned recently that Mount Saint Mary Academy was named one of the 100 Best High Schools Teaching Personal Finance by W!SE (Working in Support of Education).

First published in 2013, the 100 Best W!SE High Schools national ranking recognizes the top 100 performing high schools in W!SEs national network, showcases excellence in financial education and motivates schools to race to the top in personal finance instruction. W!SE is a leading educational nonprofit based in New York City with a mission to improve the lives of young people and at-risk adults through programs that develop financial literacy and readiness for college and careers.

Brennan said, Im so proud of our financial literacy program at Mount Saint Mary Academy.We are committed to graduating females who are financially savvy and its wonderful to be recognized as one of the top high schools in the country.

Renee Vozza, a sophomore fromWestfield, said, Ms. Brennans financial literacy program taught me many practical skills that I will need through high school, college, and beyond. The information on credit scores, savings, and especially paying for college, I found extremely valuable and is sure to benefit me in the real world.

Francesca Streicher, a senior ofAnnandale, said, Taking a financial literacy class with Ms. Brennan has supplied me with the knowledge to make informed financial decisions by studying real-world examples. As I prepare for life after the Mount, I will know what is needed to make financial choices that are both responsible and sustainable.

Mounts financial literacy program has benefited me immensely, said Kaelyn Twaskas, a junior of Fanwood. I find myself applying the knowledge I learned to my everyday financial decisions, especially when it comes to saving for college. When I got my part-time job, I realized that I already knew how to budget, save, and manage my money.

Vozza, Streicher and Twaskas, who scored in the top 10th percentile on the national test they took in December, are currently enrolled inBrennans spring business analytics course.

Also:On Saturday, April 24, the Mount Saint Mary Academy Dance Club took part in the Thats Entertainment Performing Arts Competition in Whippany. Their two performances earned them atrophy for the overall high score.

(Left to right) Julia Pierce, Mount Dance Club Advisor and Admissions Associate; S. Lisa D. Gambacorto, RSM, Ed.S., Mount Saint Mary Academy Directress; Marisa Mazzuca of Watchung, Class of '21 and Ainsley Klein of of Warren, Class of '21.(Photo: ~Courtesy of Mount Saint Mary Academy)

The lyrical number, choreographed byAinsley Klein of WarrenandMarisa Mazzuca of Watchung, won best overall scores in the Rising Star category. The jazz arrangement, also choreographed by Klein and Mazzuca, received a judges award for Fiercest Number. Both of the clubs performances received a Gold Award, andthe lyrical earned an invitation to the National Competition to be held in Atlantic City in July.

Successfully representing the Mount were club membersAinsley Klein of Warren, Marisa Mazzuca of Watchung, Tara Schilke of Pittstown, Kayla DeAngelis of Basking Ridge, Aryana Perez of Union, MaryPerez of Lebanon, Arianna Salerno of Watchung, Dena Mistichelli of Watchung, Kelsie Neidenbach of South Plainfield, Marina DeNezza of Clark, Kailey Fahy of New Providence, Kathleen Altobelli of Bridgewater, Emma Szabo of Fanwood, Victoria Fekete of LivingstonandNina Heim of Westfield.

READ: The good things students are doing in Central Jersey and beyond

READ: Education news from around the region

READ: College Connection: Advice from local expert columnist

Drew M. English of Avenel graduated summa cum laude from Norwich University, Corps of Cadets in Northfield, Vermont. He earned a bachelor of science in international business, with a minor in Mandarin Chinese. He has commissioned as a Second Lieutenant, United States Army, 82nd Airborne Division, Military Intelligence Officer.(Photo: ~Courtesy of Alison M. English)

Kavya Venkatesan, a freshman at Old Bridge High School, participated in a virtual financial literacy summit presented by CNBC and the Junior Achievement organization.

Kavya Venkatesan, a freshman at Old Bridge High School, participated in a virtual financial literacy summit presented by CNBC and the Junior Achievement organization.(Photo: ~Courtesy of Old Bridge Township Public Schools)

The focus of the summit was on levelling the playing field for students through education and financial literacy.

Venkatesan was selected to represent NJ through the local Junior Achievement organization and ask a question to a panel.

She was selected by CNBC producers after providing them with a list of questions she wanted to ask the panel.She was among 23 teens selected from a nation-wide applicant pool.She asked the panel: How can todays teens develop an adaptive mindset and prepare for the future of work?

It was definitely an empowering conversation, the 14-year-old said.

Venkatesan was featured in a CNBC news article and shared how she developed her knowledge in financial literacy and investing through courses, leadership opportunitiesand clubs.

My valuable experiences in writing have definitely enabled me to grow as a public speaker and communicator so that I can be involved in initiatives like this summit, said Venkatesan.

New Jersey in one of 21 states who mandate personal finance coursework. To date, Venkatesan completed an online class last summer with the Future Business Leaders of America. In addition, her parents have taught her about investing and buying stocks.

Venkatesan saidher counselors Katelyn Tivald and Amanda Walsh informed her about a course acceleration process. So, she opted to complete an online Personal Finance course last summer through Educere. The credit for the course was recognized by Old Bridge High School.

The knowledge I gained from this allowed me to be involved in the Future Business Leaders of America (FBLA) club, she said.

Venkatesan also credited her FBLA advisers Maria Simone and Liz Todaro with supporting her to create online training for FBLA members as well as complete and earn Business Achievement Awards.

Mrs. Simone and Mrs. Todaro have definitely provided a platform through FBLA to connect, learn, share ideas, and get involved, she said.

Simone was not surprised by the teens success at the summit.

Although I have only known Kavya since September 2020, she has continuously stood out among her peers throughout this school year, said Simone.She has taken on projects by her own initiative, cultivates school camaraderie, and accomplishes her academics with the highest achievements.I look forward to making our FBLA chapter the best that it can be over the next three years with Kavya as one of our leaders.

The teen also enrolled in another independent business course entitled Bloomberg Market Concepts.

This course taught me about investing, the economy, and stock market, she said. I was also able to use this knowledge to invest in stocks and have my own portfolio. This course was great for personal growth and inspired me to gain financial independence at an early age.

At the summit, she said she was able to develop critical thinking skills and learned how to make strategic decisions.

The summit went really well, and I enjoyed being a part of this insightful conversation, said Venkatesan. There were a lot of valuable takeaways from the summit, and I wanted to share it with other Knights so that more students can feel empowered to own their economic success.

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Monica Chan of Chathamand Luc Francis of South Orange, seniors at The Pingry School in Basking Ridge, each earned a Certificate of Accomplishment from The Princeton Prize in Race Relations for Northern New Jersey.

Moncia Chan of Chatham, a senior at The Pringry School, earned a Certificate of Accomplishment from The Princeton Prize in Race Relations for Northern New Jersey.(Photo: ~Courtesy of The Pingry School)

Princeton University established the prize to recognize and reward high school students who, through their volunteer activities, have undertaken significant efforts to advance racial equity and understanding in their schools or communities.

Luc Francis of South Orange, a senior at The Pingry School, earned a Certificate of Accomplishment from The Princeton Prize in Race Relations for Northern New Jersey.(Photo: ~Courtesy of The Pingry School)

Last summer, Chan and Francis launched the student-led Pingry Allyship Collective (PAC), a collaboration among students from a variety of Pingrys affinity groups, the Black and Asian Student Unions, the Student Diversity Leadership Committee, and the Civic Action and Social Engagement Club.

The PAC is part of Pingrys larger efforts in diversity, equity, and inclusion (DEI). In Chan's and Francis' words, the PAC aims to transform the realizations and lessons from education and discussion-based DEI work into tangible changes in the student culture, curriculum, and extracurricular activities.

In addition to being recognized for PAC, Chan was recognized for her work as co-president of the Asian Student Union, and Franciswas recognized for his work as co-leader of the Black Affinity Group.

Since my freshman-year English class and throughout their journey with the Asian Student Union and Black Affinity Group, Monica and Luc have represented and been inclusive in their work, and that matters, said English Teacher Audrey Enriquez, who nominated the pair for the award. I could not be prouder that they are being recognized.

Also:The Pingry School has welcomed 28 members of the Class of 2021 into The Cum Laude Society. Established in 1906 as the secondary school equivalent of Phi Beta Kappa, the countrys oldest collegiate honor society, The Cum Laude Society honors academic excellence and superior scholarship among its 382 member schools. Membership in this academic organization is limited to 20 percent of the Senior class.

(Front row) Helen Liu, Narayan Murti, Olivia Volpe, Claire Keller, Meghan Durkin, Carolyn Coyne, Christian Colella, Anushka Agrawal and Lily Arrom. (Middle row) Hugh Zhang, Guanyun Liang, Noah Bergam, Eva Schiller, Monica Chan, Rhea Kapur, Sydney Stovall and Jessica Yatvitskiy. (Back row) Science Teacher and Cum Laude Secretary Jeffrey Jenkins, Matthew Mandel, Justin Li, Jessica Lin, Julian Lee, Dean Koenig, Aneesh Karuppur, Emma Huang, Luc Francis, Sophia Cavaliere, Joseph Castagno, and Head of School Matt Levinson. Not pictured: Teodora Kolarov.(Photo: ~Courtesy of The Pingry School)

New Members:Anushka Agrawal of Metuchen,Lily Arrom of Warren, Noah Bergam of Short Hills,Joseph Castagno of Basking Ridge,Sophia Cavaliere of Bernardsville,Monica Chan of Chatham,Christian Colella of Mendham,Carolyn Coyne of Morristown,Meghan Durkin ofMaplewood,Luc Francis of South Orange,Emma Huang of Short Hills,Rhea Kapur of Basking Ridge,Aneesh Karuppur of Warren,Claire Keller of Summit,Dean Koenig of Warren,Teodora Kolarov of Bernardsville,Julian Lee of Summit,Justin Li of Warren;Guanyun Liang,Jessica Lin,Helen Liu, and Matthew Mandel, all of Basking Ridge;Narayan Murti of Summit,Eva Schiller of Califon,Sydney Stovall of West Orange,Olivia Volpe of Watchung,Jessica Yatvitskiy of Martinsville, andHugh Zhang of Basking Ridge

According to The Cum Laude Society, each Chapter may elect students who are enrolled in a college preparatory curriculum and who have had an honor record up to the time of election and stand in the first fifth of their classEach Chapter shall determine the method in which an honor record and class standing shall be ascertainedChapters shall be free to elect members who have demonstrated academic excellence in accordance with the philosophy and policies governing their individual schools.

Pingry students must meet each of the following criteria to be considered for election: maintain at least an A- grade point average, achieve honor roll status throughout their years in the Upper School, be in good academic standing, and carry a full college preparatory course load.

However, The Cum Laude Society emphasizes more than academic grades. It recognizes individuals who in all areas of their lives love to learn, share their knowledge with others, and demonstrate scholarship, honor, integrity, and good character.The Society also hopes that all of its members will continue their cooperative and selfless pursuit of knowledge while serving as lifelong examples of The Cum Laude Society motto: Arte (Excellence), Dik (Justice), Tim (Honor).

At the Piscataway Board of Education meeting held on Thursday, April 29, Dr. Alex Gray was named the districts Director of Diversity, Equity & Inclusion, a newly-created position designed to promote equity, inclusivity, cultural competence and greater community understanding of vital issues, and to ensure effective utilization of available resources across the district.

Dr. Alex Gray was named Director of Diversity, Equity & Inclusion at Piscataway Township Schools.(Photo: ~Courtesy of Piscataway Township Schools)

This new position is part of the districts focus on the intersection between social and emotional learning, equity, and culturally responsible teaching strategies, which together, lead to overall student achievement.

Raised in Piscataway and a graduate of Piscataway schools, Gray has worked in the Piscataway School District since 2000, first at Quibbletown Middle School, where he served as a school counselor and social worker before moving to an assistant principal position in 2012. For the past seven years, Gray has served as principal at Martin Luther King Intermediate School. He will begin his new role in the district on July 1, 2021.

In his new role, Dr. Gray will share his wealth of knowledge and experience in diversity and inclusion across the entire district. He has attended countless workshops, led professional development programs, and used data to make real changes in these areas at Martin Luther King School, said Piscataway Superintendent of SchoolsDr. Frank Ranelli. I look forward to working with Alex in this very important role he brings a great deal of talent to the central office team.

Gray received his Doctor of Education from Rowan University, a master of social work from the University of Michigan, and a bachelor of social work from the North Carolina Agricultural and Technical State University.

More than 200 golfers, diners, and volunteers from around NJ and beyond joined together at the Union County College Foundations 29th Annual Scholarship Golf Outing. Held on Monday, April 26, this event raised more than $155,000 in support of its mission to accelerate the pace of student success. The annual Golf Outing is held each spring and the foundation was pleased to host the event at Fiddlers Elbow in Bedminster. Thanks to the generosity and support of key community and business leaders over the last five years, the foundation has had a generational impact on the Union County community by funding nearly $6 million in direct scholarship and grant support in furtherance of the core mission of the college, to provide students with a high-quality and affordable education.

Three Union students hold the Big Check presented to the Union County College Foundation from the golf committee. From left are Union County College Foundation Executive Director Doug Rouse, Union County College Board of Trustees Chair Victor M. Richel, Union students, Union County College President Dr. Margaret M. McMenamin, and Golf Committee Co-Chairman John Richel.(Photo: ~Courtesy of Union County College)

This year, White Claw Hard Seltzer was the key sponsor for the golf outing. Their support will help the foundation continue to expand the opportunities available for Union students.

Thank you to White Claw for being this years signature sponsor for our golf outing. Your corporate leadership in support of our mission will translate into our ability to have a positive impact on student success.White Claw is helping to ease the financial burden on our students that will allow them to focus on their academics and graduate, said Foundation Executive Director Doug Rouse.

This years golf committee was comprised of 16 members of the community who led the charge to ensure a successful day for everyone. As we have all seen over the past year, trying to organize and produce a successful event has been trying.The pandemic has impacted everything that we do.However, our committee did not sit idly by but instead worked tirelessly so that we could have a great day for all our golfers. Their dedication to our mission helped make this years outing one of our most successful, said Rouse.

For information about the foundations annual events, contact Rouse at douglas.rouse@ucc.edu or 908-709-7505.

At its virtual public meeting on Tuesday, April 27, the Westfield Board of Education unanimously approved the appointment of Mary McCabe as assistant principal at Franklin Elementary School, effective Thursday, July 1, 2021.McCabe has served as Franklin Interim Assistant Principal since last July.

At its virtual meeting on Tuesday, April 27, the Westfield Board of Education unanimously approved the appointment of Mary McCabe as assistant principal at Franklin Elementary School, effective Thursday, July 1, 2021.(Photo: ~Courtesy of Westfield Public Schools)

As a graduate of Westfield High School and mother of two children in the Westfield Public School District, I have been delighted to serve as a teacher for many years at Franklin School, said McCabe, addressing board members after her appointment. This school year I have enjoyed my role as Interim Assistant Principal and I am so excited to continue in this position moving forward.

McCabe was appointed to the interim position last year as Dr. Paul Duncan began his new role as principal of Franklin. Her responsibilities included collaborating with colleagues to plan hybrid instruction during the COVID-19 pandemic, reviewing, communicating, and implementing health and safety protocols, organizing student cohorts, creating weekly bulletins to share updates and information, supervising more than 40 teachers and staff members while developing professional growth plans, and facilitating one-to-one meetings with students to provide needed encouragement and guidance.

Mrs. McCabe is a caring and knowledgeable leader. When we had to move to all-remote learning last spring, we did not have time to conduct a thorough search for a new assistant principal, said Superintendent Dr. Margaret Dolan. Mrs. McCabe was appointed to the interim position and began work immediately. Now, having been able to set up an interview committee to vet candidates thoughtfully and thoroughly, we are very happy to recommend Mrs. McCabe as assistant principal at Franklin School.

Mary immediately hit the ground running as interim assistant principal and I am grateful for her calm leadership during this challenging year, said Duncan. We work well together and it is with great confidence that I, too, recommend her for this important position.

McCabe joined the district 17 years ago, teaching 4th grade at Franklin while serving as a literacy coach for grades 1-5. Prior to her years in Westfield, McCabe was a 4th grade teacher at Holy Trinity School for two years and an assistant track and field coach for four years at Union Catholic High School.She earned a Masters degree in Educational Leadership from Seton Hall University in 2009 and a Bachelor of Science in Elementary Education in 2002 from St. Josephs University.

The Westfield School District is an exceptional community to be a part of and I am very proud to be Franklin Schools Assistant Principal, said McCabe.We have learned so much from this extraordinary school year and I believe that we will be stronger because of it. I look forward to continuing my work with Dr. Duncan and the teachers, students, and families of Franklin School.

Student and School news appears on Saturdays. Email: cnmetro@mycentraljersey.com

Carolyn Sampson is Executive Office Assistant for the Courier News, The Home News Tribune and MyCentralJersey.com, and handles the weekly Student News page.

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NJ students: Parthhiban named 2021 New Jersey District Student of the Year - My Central Jersey

MINT HILL, NC Mothers Day has almost arrived, so you may want to give Mom flowers or candy. But is there a gift that can make a longer-term difference in her life?

Actually, there is the gift of knowledge for her financial future.

To be specific, you may be able to help your mother in two key areas: long-term care and estate planning.

You dont need any expertise in either of these topics. But you can let your mother know that the cost of long-term care, such as a stay in a nursing home, can be significant and could impact her financial independence. And without a comprehensive estate plan, she might not be able to leave the type of inheritance she had envisioned.

So, you can help your mother by steering her toward a financial professional, who can suggest long-term care solutions, and a legal professional, who can help with her estate planning.

Offering this support can help keep Mom in a good place in life and thats a pretty valuable gift.

If you have any questions, please contact me at (980) 859-2549 or by e-mail at Brandon.Monette@edwardjones.com

This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.

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Here's a Long-Lasting Mother's Day gift - Mint Hill Times

Nothing seems to hurt Pakistanis more on a daily basis than inflation. Indeed, it is a country where many have to skip a meal at times. That is why one wonders why there is such a polarised debate on the proposed amendments to the State Bank of Pakistan (SBP) Act, 1956, which seek to focus the SBP on domestic price stability and enhance the independence and protections for those entrusted with running it.

The proposed amendments seek to change both the objectives and the functions of the SBP. Domestic price stability is to become the primary objective of the SBP, followed by financial stability, and then support for the governments economic policies to foster development.

There will be tighter restrictions on government borrowing from the SBP. The Monetary and Fiscal Board shall be discontinued and replaced with direct coordination between the finance minister and the governor.

A misplaced debate

Whenever an institution is required to do its job free of interference from politics and special interest groups, institutional autonomy is essential. Indeed, financial independence, operational autonomy and/or legal protections to the office bearers are already included in the SBP Act and that of other regulatory authorities.

The central bank would have a much better chance of managing inflation if domestic price stability is its primary function

Consider for instance section 3(3) of the Securities & Exchange Commission of Pakistan Act, 1997: The Commission shall be administratively, financially and functionally independent and the federal government shall use its best efforts to promote, enhance and maintain the independence of the Commission.

The SBPs website notes: Under financial sector reforms, the State Bank of Pakistan was granted autonomy in February 1994, and section 46B(2) of the SBP Act makes a clear reference to the banks autonomy. Over the years, there have been a series of amendments to the SBP Act and the proposed amendments are neither the first nor the last. One way or the other, the federal government will have a say regarding who is appointed for a key position.

There is nothing unprecedented about the autonomy amendments. For instance, one can find various examples of a five-year renewable term for the governor of the central bank, such as Australia, New Zealand, Indonesia, and Malaysia. A 2009 report by the Bank of International Settlements shows that of the 47 central banks analysed, only 6 per cent had a three- to four-years term for the governor whereas 64pc had a five- to six-years term.

It is well known in Pakistan that the fear of hounding by agencies encourages the civil bureaucracy to avoid taking decisions and it makes sense to protect actions taken in good faith. Our problem isnt that we dont provide legal protections to office-bearers but that these protections do not withstand the test of time. It was as recent as May 2019 when despite the three-year term provided in the current SBP Act, the governor at the time was forced to resign. In this sense, the debate on SBPs autonomy is fundamentally misplaced.

The relevant debate is how to enhance the independence and autonomy of not just the SBP but all the other pertinent bodies in the country, such as the Securities and Exchange Commission of Pakistan, Competition Commission, Higher Education Commission and so on.

An uneasy balance

A typical companys CEO is appointed by its board, he/she is accountable to the board and risks losing his/her job if (s)he fails to meet the performance targets typically around profitability. But traditional corporate governance does not fit the central bank and regulators that are meant to work in the public interest. In such cases, there is an inherently uneasy balance between accountability and autonomy.

Critics of the amendments are overlooking the fact that there is no hard accountability in the current SBP Act either. Consider that if the governor SBP had a direct reporting line to the finance minister with hire and fire authority, it would be seen as forcing the central bank to follow the whims of the minister. That would defeat the very purpose of separating the monetary policy from the government.

Another factor complicating things is that within central banks and regulatory authorities, performance can be difficult to measure and attribute. This is why accountability measures for central banks and regulators are transparency measures. Examples include presenting to parliament and answering questions, publishing reports on the state of the economy, releasing minutes of meetings, holding press conferences and being subject to a microscopic analysis by the financial markets.

The debate continues

The current SBP Act refers to monetary stability, which could be interpreted to include inflation. There are repeated references to inflation in the opening paragraphs of the SBPs monetary policy statements and the context suggests inflation is very much on the minds of those issuing these statements. That SBP should move to inflation targeting was being debated by the SBP staff for well over a decade.

According to a publication by an economist from the International Monetary Fund (IMF), 38 central banks from across the world including both developed and developing countries were practising inflation targeting as of 2015. It is also not unusual for some central banks to practice implicit inflation targeting and the US Federal Reserve is believed to be doing the same.

If the amendments are approved, the SBP would follow a disclosed target range, presumably set by the National Economic Council, for inflation and raise or lower interest rates to steer actual inflation towards the target range. Conventional economics assumes that raising interest rates is likely to cool off the economy and slow down both demand and thereby inflation and vice versa.

But economics, also called the dismal science, is just not physics. Massachusetts Institute of Technology Professor Andrew Lo explains that contrary to physics, in economics, there are 99 laws to explain 3pc of the phenomena. Inflation targeting emerged in the 1990s when, contrary to what was believed earlier, economists became convinced monetary policy had an impact on inflation. As you would expect, the empirical studies for and against inflation targeting remain divided but it appears that IMF favours it.

When inflation targeting influences inflation, it does so indirectly and with a lag. In a country like Pakistan, there are many factors affecting inflation that have little to do with monetary policy, such as currency devaluation, cartelization, inefficiency in energy production and distribution. It is well near impossible to quantify and attribute how much inflation was caused by what reason. Having said that, the SBP would have a much better chance of managing inflation if domestic price stability is its primary function.

The writer is a former CEO of the Audit Oversight Board and Executive Director at the Securities and Exchange Commission

Published in Dawn, The Business and Finance Weekly, May 3rd, 2021

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The controversial amendments to the SBP Act - DAWN.com

Chad grew up watching his father flip properties. Now, thanks to those lessons in real estate, hes financially independent, managing rental units and living life on his terms.

The 39-year-old landlord, who was born and raised in Toronto, Canada, reached $1 million Canadian dollars, or approximately US$791,000, in 2019, though he felt he had reached financial independence even sooner. That year, he left his full-time job. Along with his real-estate investments, he invests in the stock market.

Chad found the FIRE Movement, made it to $1 million CAD before 40, and became a firefighter and sheepherder along the way.

The former network administrator and his partner, Catherine, who is a Ph.D. student and research coordinator, save between 50% and 80% of their income every year and live off of $27,000 in annual expenses. With his financial independence, theyre able to travel with their dog, Pepper, but he still works as an IT consultant while managing the rental properties and other side hustles. In his spare time, he also volunteers with the local fire department.

See: A new law would require employees to save for retirement

One of the keys to happiness is owning your own time, he said. Financial independence has gifted him the ability to craft his own schedule, and not rely on a job to pursue his interests. For example, along with his side gigs and volunteer work, he is a sheepherder.

Of course, there are caveats to using real estate as a major stream of income. There could be rent loss as many landlords have experienced in this pandemic or some sort of emergency or damage to the home. A prolonged vacancy could be detrimental, so landlords have to balance a complete loss of income or decide to offer the unit for a lower price. Its just calculations figuring what youre comfortable with, he said.

But there are also ways to maximize earnings with real estate. Part of his success comes down to his hands-on approach with his rentals. He renovates his properties, including painting garages, installing heated flooring, redoing bathrooms and creating wooden wall panels.

Also see: Get triple the tax benefits with an HSA, and find an affordable health plan while youre at it

When he had to replace the refrigerator in one of his properties, instead of hiring a professional to deliver the new appliance and discard the old one, he did it himself bringing in the new fridge with his truck, fixing the old one and selling it for $100. You can still fix things and make a few bucks too, he said.

Convenience is one of the biggest budget killers. We spend a lot on convenience, he said. We can make our own food but its much easier to pick up the phone and have it delivered. Living two hours away from his rental units might seem like an inconvenience when he needs to do a repair, but he spends the time driving into the city by listening to a book. I like road trips, he said.

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This man became financially independent at 36 and says the key to happiness is 'owning your own time' The Madison Leader Gazette - The Madison Leader...

PENNSYLVANIA, USA Second Lady Giselle Fetterman joined Senate Democrats and experts on Friday to talk about fighting food insecurity in the commonwealth.

Officials say that food insecurity has skyrocketed amid the pandemic saying it likely doubled in Philadelphia over the past year.

That issue has seen an increase in people looking for aid, both from food banks and snaps benefits.

Officials said so much more needs to be done especially because people are not getting the help they need.

"Where I see the biggest gap, and we see the biggest gap at Einstein is these programs that remove barriers, any program that helps removes barriers like SNAP, programs where there's barriers for people to sign up wherever we can remove those," said Dixie James, president of Einstein Healthcare.

Leaders talked about fixing "now" problems and getting people food where they need it as well as "later" problems by helping people gain financial independence and make enough money to get out of poverty.

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Second Lady Fetterman and Senate Democrats talk fighting food insecurity in the commonwealth - FOX43.com

Understanding how the early retirement movement works motivated me to save more for the future.

When I was younger, saving money wasn't exactly my strong suit. Plenty of people explained that saving, and especially saving for retirement, was a must. My mindset was that I'd rather use that money to enjoy the present, not stash it away for when I was older. I would've needed to work my entire life this way, but I wasn't thinking that far ahead.

Then I read about a growing number of people learning how to retire early -- often referred to as the "financial independence, retire early" (FIRE) movement. I had one of those eureka moments. It changed how I thought about saving money. If you need motivation to boost your savings, looking at it from a new angle could be the key.

In a nutshell, the early retirement movement is about maximizing your savings until you reach financial independence. Financial independence is when the returns you make on your money, like the growth of your investment and IRA accounts, can cover your living expenses. You don't need to work anymore, because you're earning enough in interest and investment gains to cover all your bills.

People who commit to the early retirement movement usually aim to save a specific dollar amount. To find how much you need for financial independence, many use the 4% rule. According to this rule, 4% is a safe annual withdrawal rate. The return on your investments should, on average, allow you to break even if you're withdrawing up to 4% of your money.

Based on that rule, if you have $1 million, you could safely withdraw up to $40,000 per year. That $40,000 is what you use to pay your bills. Your portfolio should, on average, grow by at least 4% and replenish the $40,000 you withdrew.

Everyone has a personal plan, of course. Some want to be able to withdraw more than $40,000 per year, others less. And people debate whether 4% is a safe withdrawal rate, or if it should be lower.

The details may be different for each person, but the idea is the same. Set a target number for financial independence. Park your cash in places where it can consistently grow the most (mutual funds and index funds are common recommendations). From there, focus on putting away enough to reach your financial independence target as early as possible.

Before I heard of the early retirement movement, I saw retirement savings as a nest egg for old age. Even though that should be important, I wasn't prioritizing it. Retirement seemed so far away. I felt like I'd have plenty of time to save for that later.

But the philosophy behind early retirement resonated with me. It wasn't about saving money only for when you're old. It was about saving enough to effectively buy your independence. When you hit that mark, you're free to do whatever you want with your life.

I also realized that if you save enough, retirement age doesn't need to be when you're 65 or older. Reading about people who had done it in their 40s and 50s was a huge source of motivation for me. It's hard to get too excited about saving for a retirement that could be several decades away. But when that might be possible in 15 to 20 years, it can change the way you look at things.

What's great about the early retirement movement is that you don't need to be obsessive about it. I haven't picked a specific amount or age when I plan to retire, and I don't save every penny. But learning about it showed me the benefits of saving, and how I could invest in mutual funds to build more wealth. Had I continued the path I was on, I would never have had enough money to retire. Now I know that with good financial habits, I could retire at a reasonably young age.

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How the Early Retirement Movement Changed the Way I Think About Money - The Motley Fool

Interestingly, both the concepts are interlinked; the financial independence of the present day earns us wealth for the future.

By T V Raman

Gone are the days when people used to save money for retirement and emergency expenses only. Today, the focus is on a combination of financial planning and investment planning. Instead of just saving for the rainy days, individuals have begun believing in the concepts of financial independence as well as wealth creation. Interestingly, both the concepts are interlinked; the financial independence of the present day earns us wealth for the future.

Financial independence is more than what we assume it for. It is not just being able to fund expenses whenever one wants to; it also means being able to save and invest howsoever one wants to. Financial independence, along with consistent savings and limited spending, is the road to wealth creation. As Brian Koslow rightfully said, the very first step to building wealth is to spend less than you make. Hence, the importance of saving more than spending is the most accurate way to create a pool of funds for the future. But at the same time, does the ability to save less nullify the chance to create wealth? No.

Saving money in small amountsSavings must happen with peace of mind. Accumulating savings should not bring financial worries as ignoring mandatory expenses to ensure meeting your savings target would only cause stress and uneasiness. Therefore, starting small matters. Saving money, even in small amounts, consistently for a long period of time helps people to feel confident and overcome a financial shock. Small savings not only create a habit to recognize the need for regular savings; it also helps people to come out of their comfort zone, plan necessary expenses and avoid unnecessary ones.

While saving money is in the form of parking cash and liquid assets in safe securities, investing money is more of a long-term process that may involve buying stocks, real estate, and other forms of fixed assets. Investments may require better long-term planning and understanding of the various investment avenues, but savings can begin at home with recording expenses, estimating monthly budget, minimising spending, setting up saving goals, deciding on financial priorities, and keeping track of the growth of savings.Savings can easily be initiated by:

Keep budgeting in mindThe most important factor that has a significant impact on the quantity of savings is budgeting. Sticking to a budget helps to ensure a consistent approach to savings and investment. It also includes exercising willpower to not spend accumulated funds for some unnecessary or unwarranted expenditure. The mantra to successful savings can be summarised as ABCD, where:

A stands for Arranging income, expenses, and savings under sub-heads,B stands for Budgeting and balancing expenses with income,C stands for Consistent approach to savings, andD stands for Developing the short-term savings into long-term investments.

Young individuals should focus on making it a habit to save a certain amount of money at the end of their periodic earnings. Youth today are often puzzzled about how to manage their finances, for this they should try allocating expenses under different heads and a part of their earnings should be retained as savings. It is a very good habit to keep track of our expenses and analyze it every fortnight. This gives us an opportunity to keep a check on unnecessary expenditure and control it for the other half of the month. Little efforts take us far, every paisa has a value and contribution in making a rupee.

The young generation must follow these simple tips to save money:

As we all know, Little drops make the mighty ocean.

The writer is professor, Finance, Amity Business School, Amity University

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From savings to wealth creation How to manage money - The Financial Express

Financial Independence for women : In the Indian context, men are respected for one so-called reason, for being the sole bread earners of their family. Even though in reality, it is the women of the family who support men and their professional obligations by running the household smoothly, their position is considered to be inferior as they are not in control of their own finances.

The women who are financially independent in life are in control of their overall decisions which may boil down to finances ultimately, experience respect and freedom in society. Hence, unarguably financial independence for a woman is probably the first thing she must think about. We have got you the best quotes by financially independent women who wouldnt disappoint you. Read on to be inspired to take control of your finances-

While talking about her education of finance given by her mother, global star, Priyanka Chopra Jonas said in an interview, Financial independence is paramount. My mom always says that when a woman is financially independent, she has the ability to live life on her own terms. I think that was the soundest advice that I ever got. No matter where you go in life or who you get married to, you have to be financially independent whether you use it or not.

The book which is seen as the bible of architecture by many, The Fountainhead was written by a woman and a great author of a mans time, Ayn Rand. Rand said something very important about financial independence in a womans life. She said that money is merely a tool. Money can take you where you wish. But the tool can never replace the driver. Similarly, money can never be in control, you must.

Be it the power of being in control of your finances or your life, it will not be spoon-fed to you. One must step up and take the steering wheel by themselves. Hence rightly said by Beyonce, you must take the power yourself.

The US ambassador and American author, Clare Booth Luce once stated that the money that a woman owns is her best protection. Which is true in the current context. Sure they may say that money can buy you happiness. But money can surely buy you the things that make you happy.

Ruth Badger Ginsburg, Associate Justice of the Supreme Court of the US once said that women belong everywhere. She addressed the stereotype that restricts women to the kitchen or just the house. She said that women belong everywhere including the places where the decisions are being made. Be it financial or any other. Women must not become the exception when it comes to decision-making.

In an interview when Deepika Padukone was asked about what she feels about being financially independent, she said that its a different feeling of freedom. Padukone further added that she is not dependent on her parents or any man from a financial point of view. She then concluded by saying that financial independence is a nice feeling.

Emma Watson in an interview had said something that applies to financial independence very accurately. If its not you who is in control of the finances then who is it thats driving your life? Only you must be in control of your finances after all its your life. If not you, then who?

Reema Bint Bandar Al Saud, who is the Saudi Arabian ambassador to the US, said that liberty comes in the womans life when she makes her financial decisions. She also said that taking control of ones finances is not a high-tech solution. It is a low-tech solution to a low-tech problem, Bandar further added. But this one solution has a huge impact according to Bandar.

Saudi Arabian ambassador to the US, Reema Bint Bandar Al Saud is not done yet. She shared something very important that impacts the childs life and upbringing. Reema Bint Bandar Al Saud says, A woman that makes a logical and rational financial decision is a woman who raises a son that expects women to enter the workforce; is a woman who raises a daughter who recognises her place in the future.

Probably the best quote of the whole article is Beyonce pointing the truth out with accuracy. She has very skillfully with the best example demonstrated how money gives the power to men to define what they want to be true. Be it the meaning of freedom and independence or social stereotypes. They are all set of men who are in financial power. This quote very accurately defines why women must be independent of anyone when it comes to finances.

Beyonce said, I truly believe that women should be financially independent of their men. And, lets face it, money gives men the power to run the show. It gives men the power to define value. They define whats sexy. And, men define whats feminine. Its ridiculous.

You are your own person and standing freely on your feet is your primary goal. So dream about financial independence for life and not just a single wedding day. Remember to be self-sufficient and earn your own money. And educate yourself well to invest in the right places. The most important thing, you must tell yourself is, your money is your money and you are not obliged to spend it on anyone. So save for yourself.

Financial independence is the first step towards seeking gender equality, says Chopra who has been a very big advocate of women leading their own financial decisions. I believe every woman should seek to have a career for her financial freedom. We often discourage women from talking money because oh god, how can women be so money-minded?. Its high time we change that.

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11 Quotes Which Will Inspire You To Become Financially Independent - SheThePeople

This week, SocialStory witnessed the work of Chennai's Bay of Life Surf School and Ocean Literacy that is spreading the message of conserving marine biodiversity.

Meanwhile, we also saw the efforts made by Mohammed Peer Banu, who has trained over 350 womenas tailors to start their own business, encouraging them to become financially independent.

In fact, the Pollinate Group is also identifying women entrepreneurs, helping them sell clean-energy based products within their marginalised communities.

Here are the top Social Stories of the week:

Teaching the kids about the bycatch species

While doing an internship at Kalinga Centre for Rainforest Ecology (KCRE), Showkath Jamal became interested in conservation and wanted to find a reserve to put his efforts into action. While Chennai didnt have too many forest reserves, he only had to look at the ocean to find a big reserve with extensive marine biodiversity.

Showkath wanted to encourage sustainable sports and ensure that other human activities did not harm the ocean. He started Bay of Life Surf School and Ocean Literacy in 2011. While activities like cleaning beaches and saving marine life, including turtles, have now become popular, Showkath and his team have been doing it for over a decade.

When I was 15-years-old, my mother, two brothers, and I moved to Thiruvallur on the outskirts of Chennai from Ghantabahal Gaon in Odisha in search of work. We were living in poverty and had been promised jobs at a state-of-the-art modern brick kiln.

The factory middlemen had promised us that our lives would change and that we would no longer have any money troubles. The first three months were okay as we were paid Rs 300 to 400 a week.

However, after that, the payments dropped to Rs 250, Rs 200, and then stopped altogether. By then, they had stopped giving us food, and we were being beaten and made to work long hours without any sleep.

Read more about Uttar Kumars heartbreaking story here.

Sushana Guriya with her harvest of lac branches from where she extracts the resin used to make shellac.

Sushana Guriya is a tribal woman from Jharkhands Khunti district. Despite receiving above-average rainfall in the monsoon, and a wide network of rivers and streams, the families with small landholdings struggle to make ends meet and earn a livelihood off their farms.Her family was one of them living on Rs 25,000 a year.

In 2017, the familys fortunes changed when Sushana joined 21 other tribals and went for a one-week lac processing training at the Indian Institute of Natural Resins and Gums (IINRG), Ranchi, with the support of Torpa Rural Development Society for Women (TRDSW) and Edelgive.

Peer Bano (extreme right) with the women of the Bismi Self Help Group is helping women gain financial independence.

When Mohammed Peer Banu first arrived at her husbands home in Eruvadi village in Tirunelveli as a young bride, she brought along a sewing machine to help her make a small living.Over the years, the need to educate three children saw her exploring other ways to make money. She had heard about a basket making training programme run by the Srinivasan Services Trust (SST) through which she could increase her income.

Today, the 15 women-strong SHGmakes and sells clothes and baskets made of banana fibre, which they process themselves. In fact, Peer Banu has trained over 350 womenas tailors to start their own business and encouraged them to become financially independent.

The team of Pollinate Group

Pollinate Group not only aims to tackle poverty but also provides clean-energy based solutions to these communities, as well as empowers women to become entrepreneurs.

Founded in 2012, the social enterprise works on three UN SDGs no poverty, gender equality, and affordable, reliable, sustainable, and modern energy for all. It aims to improve the livelihoods of marginalised communities and empower women in both India and Nepal.

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From clearing wastes on beaches to empowering women the top Social Stories of the week - YourStory

According to Immofacile.ca, the market for online training in the private sector is growing so fast in Quebec that even universities have announced that they will rely on online training to complete the current semester. On the international scene, UNESCO has set up a Covid-19 Coalition for online training, for the benefit of 850 million students who have left the classroom around the world. "Online training is clearly a revolution in itself in the field of both teaching and the pure and simple transfer of knowledge," said Ghislain Larochelle, P.Eng. and MBA, president and founder of Immofacile.ca, who believes that the learning process is 17% more efficient than the conventional mode, due to its flexibility and its ability to interact.

E-learning is generating more and more revenue for the business, academic and professional communities: the e-learning market has reached US$325 billion by 2020 and many entrepreneurs have realized that this is a great business opportunity. And the world of real estate investment is no exception to this trend, which the pandemic is only accelerating to make it a promising tool in a business strategy in various aspects. The president of Immofacile.ca holds as proof the ever-growing popularity of the training courses offered by the company and its free webinars, in the wake of the explosion of sales in the residential market.

In this regard, a survey conducted by the American Society for Training and Development showed that an effective training program increases profit margins by 24%. This is a significant business opportunity that is hard to pass up! In the United States, online training generated increased revenue for 42% of organizations in 2018. That's nearly half of the companies that have perceived the business opportunity of this growing market. It is therefore important for those considering getting into real estate investing to consider this option for their development, which should ultimately put them on the path to financial independence.

In this regard, the president of Immofacile.ca added that over his 20-year career as a real estate investor, he had developed techniques to succeed quickly and simply in real estate deals, which he shared with a community of budding investors who have benefited from his "SECRETS OF REAL ESTATE", in an ecosystem of mutual aid and sharing.

"In this regard, it is essential to have and maintain a good network of contacts which is one of the keys to ensuring access to a structured and promising start that can lead beginners to acquire their financial independence through real estate simplified," continued the president of Immofacile.ca specifying that with individual or group coaching workshops, theoretical training and practical sessions on the ground the chances of success for any recruit became achievable.

The outlook for real estate price increases in 2021 across Quebec is 20%, according to Desjardins, despite variations in supply and demand, while the number of transactions increased by an average of 23% in Quebec between January 2020 and January 2021: an upward pressure on prices that should continue, according to experts, even though listings collapsed by 48% over this same period.

Mr. Larochelle concluded by saying that pandemic or not, the market currently offers multiple business opportunities that could allow neophytes and rookies, like the thousands of real estate investors trained over the past 20 years, to achieve their goals on the road to financial freedom, one door at a time.

SOURCE Immofacile.ca

For further information: Ghislain Larochelle, P.Eng, MBA, President and CEO, Immofacile.ca; Contact: Alexandre Dumas, 514 898-4636 (cell), [emailprotected]; Laura-Michelle Marcogliese, 514 515-0115, [emailprotected]

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The training market is booming, against the backdrop of the COVID-19 pandemic, in the Quebec real estate investment sector - Canada NewsWire