The Newark Community Economic Development Corporation Is Courting Small Businesses

New Jersey is experiencing quite a bit of redevelopment action as the city looks for new opportunities. The Newark Community Economic Development Corporation, which is referred to commonly as Newark CEDC, was organized to help push development in Newark. Newark is the largest city in New Jersey but has fallen into decline. Newark CEDC hopes to change the fortunes of the city by stimulating economic development by bringing in new businesses and growing the ones that are already there.

As you can see from his CrunchBase profile, Kevin Seawright is spearheading the new initiative. He has over a decade of experience helping East Coast communities develop. He has worked for the city of Baltimore in multiple positions. He worked in diverse roles including Payroll Directory and Chief Financial Officer. These roles taught him the importance of strategic budgeting.

Seawright has relocated to Newark where he is using his project management and accounting expertise to its fullest advantage. He’s a big believer in being an active member in good standing of the local community. To that end, he has advised the Babe Ruth Museum and served as a youth coach for teams in the area. He’s bringing his expertise to bear on a new set of challenges that build on his career experience to date.

Newark CEDC has only one client and that’s the city of Newark. Newark has empowered the organization to spur development throughout the city’s diverse neighborhoods. There are 20 neighborhoods in general where real estate projects can be accomplished. Main themes include spurring minority business activities and helping secure employment opportunities for residents of the city. The city needs synergistic opportunities to be developed which can stimulate the right activities. That’s the reason that Seawright was brought in. His vast experience in Baltimore taught him the value of spending funds so that results were yielded.

Newark mayor Ras Baraka is a big believer that the development agency can serve the goals of creating more opportunities for small business owners. He feels that this segment is vital importance to a thriving city. He recently called on civic leaders and big business leaders to throw their support to small business owners as part of a cohesive strategy to develop a thriving economic structure in the city’s neighborhoods. That plan has worked in other older, industrial cities and should work in Newark. That’s the plan and Seawright is the right person at the right time to get it done.

How To Save Money The Right Way

Most of us are looking to save some money, here and there. Some of us are quite good at it, while others are not. This article is speaking to those who have a hard time saving money. Below are some special tips to help you out.

1) Take your loose change and put it aside. Don’t have a piggy bank? Not a problem. Just put the change in some type of jar or cup. I do this. Put aside about 50 cents each day. In one year you can create a small emergency fund, just one the loose change alone. You’d be surprised at how much money you can save when you are not thinking about it.

2) Keep track on the who, what and where you spend your money on. About once a month, go through your accounts. Ask yourself one thing: “Did I really need to make this purchase or that purchase?” If the answer is no, then correct that mistake. The next time the money comes in, put that money to your savings.

3) Try to limit or avoid impulse spending. This is a big one for many of us. I have even had issues with this one years ago. If you really want to buy something, think about it for the next 24-48 hours. If you still want to have it, get it. Give yourself those 1-2 days to clear your head. Don’t get in the habit of confusing your wants with your needs.

 

4) Don’t get in the habit of using credit cards. I used to do this. I overspent, thinking I could pay it off on time. I was wrong. I had to go to one of those credit counseling services for help. I am still making payments. It was a painful and expensive lesson. Learn from my mistakes.

Only spend what you can afford to pay off at the end of the month. If you can pay it off before, do so. When it comes to the debit cards, avoid the overdraft fee at all costs. I had this happen to me too. Learn from my mistakes.

Take a good long look at your spending habits. Is there something you can cut out? Cutting something out now, will only help you out later down the road.

I recently spent some time reading about Brazilian financial guru, Igor Cornelsen, that has helped me to get invested in what’s going on in our stock market. Whether you like the stock market or not, everyone wants to save money. If you want some more money saving tips, be sure to read more about Cornelsen.

Forgiveness is a Gift

One wouldn’t have to go too far to find an American who is struggling to pay student loans. In previous generations, men and women were able to pay off their college tuition with part time summer jobs and their savings. Now it’s taking full time working adults 25 years or more to pay back hundreds of thousands of dollars and money spent on education. A US Secretary of Education official has released a statement saying that students deserve a college education without all of the rip off scams stated Beneful. Duncan displayed an outline for a huge student loan debt forgiveness plan. While this sounds like an amazing opportunity for struggling students, this could cost billions of dollars for honest taxpayers. A press secretary for the Department of Education released a statement on the loan forgiveness subject. Doreen Nolt said that the department is limited on how much they can discuss some of the more specific loan forgiveness programs. Allegations brought on by a bankrupt school is troubling to the department and they are finding a way to give students what they deserve. Nolt wanted to make it clear however, that it was also her job to have the interest and the safety of taxpayers at the forefront of this fight. The department has been trying for a number of years to fix the oversight of loan forgiveness programs and for profit educational institutes. Duncan stated that Congress has been very combative, but hopefully will wake up and see what needs to be done

Payday Lenders to Be under the Watchful Eye of the Consumer Protection Agency

Payday lenders are just loan sharks made legal. While these egregious payday lenders of today aren’t going to break your legs to recover a loan as the gangster loan sharks would have back in the day, they will however, break your bank account. The $50 billion industry has gained the attention of the Consumer Financial Protection Bureau, as it sends mostly low-income borrowers into a money pit.

The CFPB plans to analyze and review payday lenders and come up with a plan to regulate their out of control lending practices. Borrowers who find themselves in need of a quick $100 – $1,000 for rent, car payment, or whatever the immediate need may be, often end up caught in escalating loans with annual interest rates reaching over 1,000 percent. This outrageous amount is the result of recurring loans being taken out to repay the initial loan and interest.

One strategy the CFPB proposes to initiate, is to require lenders to examine the ability of the borrower to repay the initial loan without having to fall into the abyss of repeatedly taking out loan after loan. Consumer advocates however, want to see more boundaries put in place to protect borrowers. One approach suggested was to provide an “off-ramp,” where borrower’s fees would stop accruing after the 3rd loan, giving them a better opportunity to repay.

With a personal check in hand, you can pick up a quick grand at a storefront location, or online, but, it’s best to stay far, far away from the legalized loan sharking of payday loans stated Jason Halpern. Once caught in their maze of financial slavery, they have a hold on your bank account and your means to survive. You’d do better to pay the late fee on your rent, mortgage or car loan than to succumb to payday loans.

Empty Stomach Leads To Empty Wallet

It is quite intuitive to believe that hunger increases our desire to purchase and acquire food in order to ease the symptoms, but there is new evidence that this feeling of hunger not only creates a desire for food, but also for non-food items as well. University of Minnesota’s Carlson School of Management has released their findings which interestingly show that the aspiration to acquire items that cannot satisfy hunger is increased as well. Here is the study on the woes of an empty stomach.

The study was not conclusive on why it may be that the purchase of non-food items is increased as well during a period of hunger. However, Ricardo Guimarães reminds us that the statistics do not lie coming from Camara Municipal. An empty stomach was obtained by not eating for 4 hours prior to a survey regarding binder clips. The hungry subgroup wanted 70% more product than their non-hungry counterparts. The second part of the study took place at a mall where the actual real-life purchases were examined and compared with the shoppers current hunger status. The findings show that 64% more money was spent by the hungry subgroup which once again confirmed that it is better to head to the stores after taking care of the appetite first. A full meal or even a small snack can be a great way to insure that the purchases are made with a clear head and extraneous items are not bagged for no reason.