This infographic from the sports medicine company KT Tape lays out some of the dangers of a sedentary work life and what you can do defeat desk-bound death.

Visa polled individuals in five areas of personal finance: budgets, emergency funds, family discussion of money issues, teen financial preparedness, and school-based financial education programs. The rankings are based on a combined score across the five categories. Key findings:

Income and financial fitness are not the same thing In Canada, 39% of those with less than a three-month emergency fund are high earners while just 34% are low earners. This is a common experience across country lines.

Young people are not learning about money In most countries, a majority of those polled said teenagers and young adults do not understand money-management basics. The U.S. posted its lowest score on this question and finished at the bottom of the pack.

Asians are the best savers The Chinese were the best at saving with an average 3.9 months of expenses saved. They were followed by Taiwan, Hong Kong and Japan. The U.S. averages 2.9 months and came in 6th place.

The family talks about money in Latin America Mexico and Brazil topped the list of places that parents talk with their kids about money. Mexicans talk with their kids about money 42 days a year, on average, and Brazilians 38. American families talk with their kids about finances 26 days a year.

Brazilians get an early start Brazilians believe that schools should start financial education at the age of nine. Vietnam fell on the opposite end of the spectrum, believing schools should start this line of teaching at age 14. In the U.S. the average age that people felt that government should require kids to start learning about money was 12.

via U.S. Trails Brazil, Mexico in Financial Literacy | Moneyland | TIME.com.

The Canadian Tory government has announced that it’s discontinuing the minting of new pennies, as the coins are expensive and considered a “nuisance” by businesses and their customers. As Steven Chase writes in the Globe and Mail:

“It costs taxpayers a penny-and-a-half every time we make one,” Finance Minister Jim Flaherty told the Commons, adding the move will save taxpayers $11-million annually.

…The increasing scarcity of pennies means Canadians will have to get used to cash transactions being rounded off if they’ve got no pennies on hand.

via Canada to stop issuing pennies, businesses told to round off to nearest 5 cents, or “work it out for themselves” – Boing Boing.

From fitness instruction to health-care coaching, labour relations to social media management, analysts predict a groundswell of opportunity for those who find themselves working past 65. And if current trends persist, that will eventually include most of us.

“Improved health and longevity are making it possible for the older workforce to do things our grandparents couldn’t have done,” says economist Barry Bluestone, a professor at Northeastern University in Boston.

“We’re going to see a whole lot of new types of jobs developed, especially for people who are delaying retirement or going into encore careers.”

The 67-year-old university professor says that, to him, retirement remains an alien concept. But he’s considering a transitional career that would act as a bridge to the golden years — an idea gaining popularity among those his age.

“Many people I’ve talked to are delighted by the idea of doing something different for the last third of their life,” says Bluestone, who sees himself teaching school children on a part-time basis.

There are two wildly different types of seniors working, particularly since the Great Recession:  one is the healthy, well-adjusted senior who still wants to (voluntarily) contribute to society, and the other is the sickly and/or poor senior who has to work at the local grocery store as a grocery store bagger to make ends meet.  This article certainly looks at the sunnier side.

via Forget retirement: Aging workers embrace ‘encore careers’.

Stocks and Shares Can Be Your Friend!

Firstly if you believe that the economy is going to improve over the coming years you could decide to choose the classic tool for investment, that being stocks and shares.  Investing in stocks and shares can be an extremely exciting tool to make money, but picking the right area to invest in can be difficult.  You need to be sure, especially in the economy we currently live in, that your money is as safe as possible.  This can be tough, as usually it is the riskier companies that will help you increase your investment capabilities.  Consequently, unless you have been tipped off on a ‘sure thing’ or you are happy to see your investment make money slowly, stocks can be a risk.  The economy around the world shows signs of stabilising, but when this will reflect in the stock markets to small investors is a tough call.

Taking A Risk

Alternatively you could decide to invest your money in the more recent crazes such as forex.  This is essentially trading on the currency markets and investing in either their success or failure.  For those with a smaller budget there are considerations that need to made.   Forex can be an extremely risky business, and there is a chance that you lose more than you originally invest.  Consequently, if you are dealing with a small budget then you should consider safer currencies, such as the US Dollar before you take riskier moves.  Once your capital has built to a level where the riskier deals are within your reach, then they can be considered, and the rewards may be great.  When dealing with forex accounts it is vital that you remember the risks involved, and if you do not feel comfortable with a trade you should never enter into it.  Only consider forex if you understand the potential risk involved.

Bankers

Finally there is another option, and that is to keep your money with the banks.  Many are now offering you the opportunity to keep your money locked away for extended periods of time to take advantage of better interest rates.  Obviously if you require access to your investments at all times then this should not be considered, otherwise you might be happy to have to do nothing to earn money.  These accounts can range from six month periods, to many years, and you need to work out which account is right for you.  It is also important to consider how interest rates will change in the coming years, and whether your locking your savings away for an extended period of time will eventually leave you out of pocket.

Overall, if you want to make something work with a smaller budget you definitely can.  Sometimes it will lead you to taking a risk that you may have wanted to avoid, others might involve you potentially leaving your money untouchable.  That being said, if you want to invest your money it is far better to do something than nothing.  No one made any money by doing nothing at all!

There are 2 kinds of 529 plans: these are college savings plans & pre-paid tuition plans. The District of Columbia and the entire fifty states support at least one type of 529 plan. Additionally, a few private universities & colleges support a pre-paid tuition plan.

The distinction between a college savings plans and pre-paid tuition plans
Pre-paid tuition plans usually permit college savers to buy credits or units at participating universities & colleges for the upcoming tuition and, in some circumstances, room and board. The majority prepaid tuition plans are supported by state administrations and have citizenship requirements. Several state governments promise savings in pre-paid tuition plans, which they support.

College savings plans normally allow the account holder (also recognized as the college saver) to set up an account for a beneficiary (the student) for the purpose of paying the beneficiary’s entitled college operating expenses. An account owner might characteristically choose among numerous investment alternatives for his or her donations that the college savings plan spends in support of the account owner. Investment alternatives frequently comprise bond mutual, money market funds and funds stock mutual funds, in addition to, age-based portfolios, which automatically shift in the direction of more conservative savings as the beneficiary obtains nearer to college age. Departure from college savings plans can commonly be employed at any university or college. Savings in college savings plans, which invest in joint funds are not insured by state governments & are not federally guaranteed. Spending in a 529 plan might provide college savers extraordinary tax benefits. Earnings in this particular are not liable to federal tax, & in the majority cases, state tax, provided that you make use of withdrawals for entitled college expenses, for example tuition & room & board.

In general this plan has several advantages for the one who wants to extend his/her education in the higher education level.

More resources:

• What is a 529?
• SEC guidance on 529s
• 529 plans

The following is a guest post. 

There are basically two types of loans – secured and unsecured. Secured loans are backed up with collateral, usually real or personal property. These loans include mortgages, auto loans, loans from insurance policies and certain types of business loans.

The major feature of secured loans is that the lender can seize and sell the property you put up as collateral including the house for which you took out a mortgage, for example.  Unsecured loans are not backed by collateral. The lender is relying on your promise to repay the debt. Types of unsecured loans include credit cards, personal loans and payday loans.

Both Types of Loans Have Pros and Cons

Because secured loans are backed by collateral, the risk to lenders is lower, which results in lower interest rates. Mortgages, for example, have rates that are below 4 percent. Another advantage of secured loans is that they often have longer payback terms, which can make the monthly payments more manageable. Even though secured loans are a lower risk for lenders, the loans are still difficult to get. Home and auto loans both require that you have very good credit to get the best interest rates.

Another drawback of secured loans is that they often have high fees. When you apply for a mortgage, the fees can run into thousands of dollars for the appraisal, credit check, title research and other documentation. The big drawback with secured loans, of course, is the fact that the lender can repossess your collateral if you don’t make the payments. This means you can lose your home or your car or, if you have a business loan, equipment and inventory.

Unsecured loans, on the other hand, are relatively easy to get. You don’t need great credit to get a credit card and you don’t need any kind of credit to get a payday loan. You do, however, need good credit to get a personal loan. Another advantage of unsecured loans is that your creditors have no claims to any of your assets if you don’t pay the loan back. Even the products you buy with money from the loan are safe from liability. A big drawback to unsecured loans is that they come with high interest rates. Credit card interest rates often exceed 15 percent and the finance cost of payday loans, if calculated as an annual percentage rate, is nearly 400 percent on average. Another drawback is that the repayment period is short. You usually only have a week or two to pay back a payday loan, while most credit cards give you a month at most to pay back the debt before incurring finance charges.

A good place to start your research on the best rates is by comparing loans at MoneySupermarket.com. The free impartial tool compares secured and unsecured loans from the majority of UK providers to help you find the best deals.

Photo  Some rights reserved by Public Domain Photos

Petroleum Engineering

They don’t call it black gold for nothing. With so much influence, money, and power tied up in oil interests, it’s no wonder that petroleum engineers are so well compensated with an average starting salary of $80,849. Even though governments continue to claim that the future of energy lies in alternative methods, Texas tea isn’t going anywhere. And those who are able to innovate and implement new methods for extracting oil from shale and other recalcitrant sources are going to be very well off. The field also expects to see significant growth over the next decade according the Bureau of Labor Statistics.

Chemical Engineering

At a tad over $65,000 to start, the early occupational life of the chemical engineer is not as lucrative as one who specializes in petroleum, but its nothing to shake a stick at. The current demand for chemical engineers is buoyed largely by the size of the pharmaceutical industry which can use the broad skills of recent graduates in drug analysis and research.

Mining & Mineralogical Engineering

Noticing a theme? Engineers make money no matter what the career specialization is. The reason why mining engineering grads can come fresh out of university pulling in $63,969 is because minerals are more important today than they have ever been in the post-industrial world. Every piece of advanced technology, whether it be medical or consumer or militaristic, relies on minerals for their construction. Ergo, it’s understandable why people would like to get their hands on these precious goods. Predictably, the field is expected to grow over the next decade as we become more and more reliant on the fruits of the earth for manufacturing and innovation.

Computer Science

Although not an engineer in title, the computer scientist may as well be with the course load they encounter in school. They may as well be considered engineers with their paycheck as well, taking home $63,402 after completing their college degree. In a very brief amount of time the world has transitioned from cooperation with computers to complete reliance on them. Businesses, innovation, communication and economies as a whole fail to function without computers. Hence, the demand for computer scientists is overwhelming, even more so than the engineering careers listed prior. Computer science is expected to see a nearly 25% growth rate over the next decade. Choosing to study computer science might not be the most immediately lucrative decision, but it will pay cash money over a career.

Resources: Bureau of Labor Statistics, Forbes