SOURCE: Experian website
Does your age shut you out? Looking for a job? For those in the 50+ age bracket, you may have found that the economy in 2008 may have affected you too. You may have taken an early retirement or was let go. You were possibly in your 40’s or early 50’s at the time, well experienced in your field and thought that it would be fairly easy to move on in the work force. You may have found that finding steady employment has been more than a daunting task.
Then too, there’s a perception that people over 50 or 60 will be just passing through as a transition into retirement. Employers are reluctant to hire someone they think will be out the door in a year or so.
The fact is that compared to their younger colleagues, workers with a few decades of experience under their belt are typically better problem-solvers and people -managers and have honed leadership skills over time. I know that I am preaching to the choir, but you need to show that to potential employers.
Here are several strategies that can help you fight back against stereotyping and discriminating against individuals or groups on the basis of their age.
1. Ask for help and advice
Networking is just one letter off from not working. In this era of online resumes, it’s all about who you know that can get you in the chair for a face-to-face interview. When companies are looking for new employees, they rely on employee referrals. In 2011, employee referrals accounted for 28% of new hires, followed by job boards 20.1%, career pages on company web site.
You need to pick up the phone and call everybody that you know, ever knew, ever worked with and every employer that you ever worked. That’s the way to get an interview. You need to establish personal connection to the company.
Call or sit down with a spouse, friends, neighbors, church friends and ask for help. Write down the names of previous employers and former colleagues, immediate and extended family. Don’t be embarrassed to call family members when you’re out of work. Get over it. Call friends, people in your place of worship, athletic club, volunteer organizations, parents of children’s friends.
If there is a particular industry you’re hoping for, join an association affiliated with it and seek out volunteer opportunities. Attend industry and professional meetings and conferences.
College and university placement offices are there to help no matter how long ago you graduated. Seek out career centers operated by your area colleges or lacal lgovernment agencies offering career counseling, workshops on resume writing, job fairs and retraining programs.
Don’t be timid. You have to take the risk of picking up the phone and having someone to say no, and maybe. No matter how good your resume might be, unless it helps you get a face-to-face interviews with hiring managers, your efforts are wasted.
3. Market your age as a plus
It’s all in marketing. Brand yourself. You are responsible for your own image. Workers 50+ tend to be self-starters, know how to get the job done, and don’t need as much handholding as those with less experience. A great benefit to being older is that you have a good deal of knowledge and leadership ability. So pitch your age as a plus. You need to be able to articulate your value.
4. Roll with the latest technology.
If you don’t have core technical skills, check out your local libraries, community colleges and other venues where training is offered.
Take the time to get savvy with the following:
- Social networking
- Video interviews
- Web navigation skills
- Employer web sites and Google alerts
- Learn the latest resume tricks
- Fine tune your interview skills
- Don’t be a know-it-all with a chip in your shoulder
- Look your best and make sure that you are styled
- Practice positivity
There are opportunities available for those needing extra money. Depending on work experience, here are are a few to consider.
- Librarian Assistant/Aide
- Alumni Event Planning
- Personal and Home-Care Aide
- Handy Jack / Handy Jill (odd jobs)
- Medical Assistant
- Project – Based Consultant
- Personal Assistant
- Athletic Coach / Umpire / Referee
- Teacher’s Aide
- Tour Jobs
- Convention Center Jobs
- Pet Groomer
- Wal-Mart Greeter
- Limo Driver
- Shuttle Bus Driver on Campus
- Tax Preparer
- Park Service Employee
- Nursery Worker
- Pet Sitter
- Amusement Parks
- Athletic Event Ticket Services
- Call Center Representative
- Restaurant Greeter
- Car Transporter
- Travel Nurse
- Cruise Liners has a full array of jobs and some hire couples
Great Holiday Jobs
- Santa Claus
- Retail Sales Cashier
- Retail Salesperson
- Product Demonstrator
- Holiday Decorator
- Package Delivery
Landing a holiday job:
- Stop by for a face-to-face
- Offer future help
- Be flexible
- Go where they know you
- Don’t wait for a help-wanted sign
Great Snowbird Jobs
- Resort Hospitality Worker
- Resort Services Worker
- Disney “Cast Member”
- Second Home Property Manager/Concierge
- Spring Training Staff for Major League teams
- Car Transporter
- Travel Nurse
- Cruise Liners has a full array of jobs and some hire couples
Work at Home Jobs
- Legal Mediator
- Graphic Designer
- Grant/Proposal Writer
- Virtual Customer Service Representative
- Virtual Assistant
- Online Tutor
- Direct Sales such as Mary Kay Cosmetics, The Pampered Chef, Tupperware, Avon, Cutco, Stanley Home Products and Silpada.
- Personal Trainer/Physical Conditioner
- University Bookstore Retail Specialist
- Adjunct Professor/Instructor/Lecturer/Visiting Professor
- Substitute Teacher
- Career Center Counselor
- Market and Survey Researchers
- Administrative Assistant
- Volunteer Manager to bring awareness to the non-profit’s cause
- Marketing/Communications Manager
Soul-search for the issues that you care about. What skills do you have to help move into the sector. Research the nonprofit world and understand what you can do for the specific field you’re getting into. Volunteering first can give you an insider’s view and networking contacts that may lead to a job.
Consider taking a course to fill in any holes in your background. Credentials help in the nonprofit world.
Find work that keeps you happy and healthy….and pays the bills.
We find that many people in or nearly in their retirement years are using credit and credit cards to supplement their income, thus causing debt that can not be recovered from. We at reScore Solutions may be able to help. Call us today for a free credit report evaluation. If we can’t help you, we have a pipeline of professions in many industries that may be able to save your home, save your credit and assist in other avenues. 205-352-3448
Additional information regarding this blog can be found in the book: AARP Great Jobs For Everyone 50+ By Kerry Hannon
If you know what a FICO score is then you may have wondered how credit scoring came into being. How did that one little number become so important in our lives?
Lenders have been using credit scoring for years. By the end of the 1970’s, most major lenders used some kind of credit-scoring formulas to decide whether or not to accept or reject applications.
Credit scoring was introduced by two pioneers in the field: an engineer Bill Fair and mathematician Earl Isaac. Together they founded the firm Fair Isaac in 1956. Over the years they convinced lenders that mathematical formulas could do a better job predicting whether an applicant would default than even the most experienced loan officers.
By relying on formulas it would eliminate the possibility of human bias. Formulas wouldn’t turn down a potentially good credit risk because an applicant was the “wrong” race, religion or gender. It wouldn’t accept an applicant because they were a friend.
Credit scoring was also fast. Because of fast computers it would take minutes rather than days or weeks.
Early on, each company had their own credi scoring formula tailored to the amount of risk it wanted to take. Also the history with various types of borrowers, and the kind of people it attracted as customers. Although the factors varied, it took into account the applicant’s income, occupation, length of time with employer, length of time at address and information regarding accounts listed on the credit report. These calculations took place behind the scenes, invisible to the consumer and understood by a small amount of experts and loan executives.
Being that qualifying for an auto loan may be considered and weighed differently, that led to credit scores that are based on the biggest lending databases of all-those that are held at the major credit reporting agencies, Equifax, TransUnion and Experian. Fair Isaac developed the first credit bureau-based scoring system in the mid 1980’s, and the plan quickly caught on.
Instead of basing their calculations on any single lender’s experience, this type of scoring factored in the behavior of literally millions of borrowers. The score was based on consumer’s history of paying bills, the number of types of accounts, and how much available credit customer was using, and other factors.
The credit-scoring model was useful for more than just accepting or rejecting applicants. Some lenders decided to accept higher-risk applicants but to charge them more in interest and possible fees. Lenders also use scores to screen vast numbers of people to find potential future customers. Instead of waiting on people to apply, lenders could send out reams of preapproved offers to likely prospects.
Consumer credit exploded in the 1990’s. Lenders felt more confident about making loans to wider groups of people. Here are a few examples of how available credit expanded during this time:
- The total volume of consumer loans – credit cards, auto loans, and other non mortgage debt more than doubled between 1990 and 2000, to $1.7 trillion.
- The amount of credit card debt outstanding rose nearly three-fold between 1990 and 2002, from $173 billion to $661 billion.
- Home equity lending soared from $261 billion in 1993 to more than $1 trillion 10 years later.
Credit scoring got a huge boost in 1995 when the country’s two biggest mortgage-finance agencies, Fannie Mae and Frddie Mac, recommended lenders use FICO credit scores. Because Fannie Mae and Feddie Mac purchased more than two-thirds of the mortgages made, their recommendations carried enormous weight in the home loan industry.
Consumers may not understand the credit scoring system and find it to be a giant maze of never ending information, but at reScore Solutions, Regina Husdon and Gale Kirkpatrick understand it as much as it can be understood. They work with each client to get credit reports lender-ready. That means that when clients follow the “plan”, clients will be approved. Home ownership is possible, even starting with the worst credit scores.
Most clients begin with scores in the 400’s and 500’s. Knowing the correct steps to take is the secret ingredient. They are experienced in debt negotiations, which saves clients hundreds to thousands of dollars. Through debt validation thousands of dollars can be saved on having 3rd party debt collections removed from credit reports- forever.
Regina and Gale first met years ago when Gale worked for Regina as a legal assistant at the law firm that Regina was employed at as an attorney. They specialized in the Fair Debt Collection Practice and The Fair Credit Reporting law. Later teaming up in a new business dealing with the same matters but merging credit repair to help good people that fell on difficult times.
If you need help with debt negotiations, credit repair or bankruptcy, contact them today. Credit report evaluations are absolutely free.
205 352 3448
3535 Grandview Pkwy. Suite 350, Birmingham, Alabama 35243
credits: Your Credit Score Liz Pulliam Weston 2005 5th Printing
We love our children, and of course we want them to have all that they need…and much that they really don’t need. Do you find yourself at the crossroads of another meltdown with your child at the checkout because of something that they have eyed and can’t live without? Of course you have! We all have! But there may be help in teaching them to curb these emotional attachments for things that they won’t remember five minutes after they arrive home.
Get creative and help your children earn money and teach good money management, which in return will help them to make wiser purchases.
Help make earning money fun. The following Here is a list of chores your young child can accomplish with minimal help:
- Picking up toys
- Feeding the family pet
- Collecting household garbage/ recycling to be taken out by adult
- Setting the dinner table
- Cleaning toilets
- Tidying their bedroom
Pitfalls when it comes to chores.
- Don’t insist on perfection.
- Your child is not in the military. They are children and still learning. Challenge children to excel, but don’t scold.
- Don’t delay.
- You may think that your child is too young. They may be more capable than you think.
- Don’t be stingy with praise.
- Get that praise going right away! Don’t wait until the chore is done. Praise and encourage the child while the chore is in progress. You want to build positive momentum, especially with young kids.
- Don’t be inconsistent.
- Be regular and don’t allow for putting off for another day.
HAVE A PAY CHART
Have a chart posted where your child can visible see it so that they see how much they earn with each job. Pay weekly and help your child to spend the money on items that they have made a list of. This will assist in keeping them focused instead of spending on impulsive items.
With all the information that children receive at school, t.v., internet, friends, family and reading; getting an education in finances, credit and saving doesn’t seem to be an area that they are learning or applying to their life.
A recent Capital One 360 poll found that 87% of young people between the ages of 12 to 17 reported knowing at least an average amount about managing finances. Or not. According to the study, it also found that 24% of them think a debit card is used to borrow cash.
A Charles Schwab poll found that fewer than a third of teens understand how credit card interest works and four in 10 can’t budget.
Talk to your teen about financial responsibility. Does your money-talk with your teen begin with, “How much do your need?” If so, this may indicate that there is a need for more understanding to becoming financially responsible and independent. The more that you talk to your child or teens about money, the better financially prepared they will be as they go off on their own. It is important to challenge them to be responsible for their own financial actions, while the consequences are not as serious. Learning to appreciate delayed gratification will set the foundation for the rest of their financial life.
EARNING MONEY: EARLY ELEMENTARY CHILDREN To begin teaching financial responsibility, it is recommended that you start at a very early age. That age may vary depending on maturity and understanding. It’s probably safe to assume that at or around the age of 5 would be a smart time to begin rewarding with an allowance. A short list of ideas are listed for giving money for work performed younger children. Do keep in mind that younger children may not do the best job on these tasks, but it’s about responsibility and learning.
- Picking up toys
- Feeding family pet
- Collecting household garbage to be taken out by adult
- Setting dinner table
- Cleaning toilets
- Tidying their bedroom
I do not personally recommend giving an allowance for the following, because these are not chores. These should be expected to be done without question.
- Brushing teeth
- Getting up and out for school and church on time
- Schoolwork / Homework
- Being respectful and minding adults, ie, being good during a photo-shoot should not be rewarded. We need to be mindful about bribing our children for “good behavior”
- Not being quarrelsome or talking back to parents
EARNING MONEY: TWEENS & TEENS: According to CNN Money, there are 4.7 million teens with jobs this year -an increase from last year. According to datacenter.kidscount.org there were 73,583,618 teens less than the age of 18. That means there are far more teens not working than working. With that being said, teens and parents need to be creative when finding ways to earn money. I have compiled of possible tasks:
- Collecting recyclables
- Hosting a garage sale
- Yard work for neighbors or family
- Housework for elderly or infirm neighbors
- Helping neighbors with unloading groceries or clothes from car and putting away
- Pet sitting or dog walking
- Wash cars
- Become a lifeguard
- Mowing lawns
- Become the neighborhood’s designated tech support
- Organize a fun run
- Driveway power washing
- Garage cleaning and organizing
- Assisting neighbors, church friends with getting seasonal decor from storage and putting back. Maybe even helping to decorate, such as hanging outside lights.
- Reselling online
Once your child has money, let’s start with giving back. If you are teaching your children christian principles, teach them to set aside the very first 10% as tithe. This is a great biblical teaching and teaches the promises of God. The next amount set aside is 20% to be deposited into teen’s savings account, by the teen. As a tween or teen, it is not too early to start a savings account at your local bank or credit union. Be sure that the account accrues interest.
The 70% that remains should be spent wisely. Many times your teen may want to purchase a pricey item such as a new cell phone or i-pad. It may be beneficial to help with matching their contribution. This will create better spending habits than using a credit card and having them repay it. Once a teen has learned the art of patience, then introducing a credit card for certain purchases may be safe.
Children need to know how much items cost, from the cost of many grocery items to the clothes they wear. They need to be taught the value in what you own and what they are being blessed with. I can’t help but notice how teens throw away so many items of value. We live in a disposable age where money is even devalued because things are too easy to replace.
A couple of years ago, a high-schooler on the girl’s softball team was not keeping up with her softball glove as they were loading the school bus. Noticing that the glove was a very nice and pricey one, the coach called her to the side and already knowing what her answer would probably be, he asked, “Do you know how much that glove cost?” She replied that she had no idea how much it cost, that her parents had purchased the glove for her. The coach smiled and shook his head. His point was reality. Children usually do not place value on items when they were not taught to value them.
Teach your children to take care of what they have. They may not get another one. This still rings in my ears, for I heard it many times as a young child. Because of this message, I still have several items from my childhood because I took care of them. Many other childhood items I was able to later sell.
I will conclude this blog by saying that this is all about teaching financial responsibility. Not about having such stringent rules that money becomes a headache and source of arguments. I often talk to clients in their 20’s and early 30’s that admit they were never taught about budgeting and how to used credit wisely. It probably has a lot to do with their parent’s not knowing how to teach what they didn’t know.
Do you have credit problems and would like to break the cycle and have a better future for you and your family? Please call us. The credit evaluation is always free. We will need to review all three of your credit reports to give a complete evaluation but we can help you get them for $1.
Remember to lead and challenge your children by example.