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Show APRIL 27,2006 THE GARFIELD COUNTY INSIDER It's a Whole New World for College Grads Just a few weeks from now college graduates will be trading caps and gowns for business attire and-their first full-time jobs. College may have prepared them for the workforce, and statistics show that getting a college degree does increase earning power. In fact, the U.S. Census Bureau reported that in 2004 the average worker with a bachelor's degree earned $51,206, while a worker with a high school diploma earned $27,915 - a degree nearly doubles the average worker's earning power. But even with a starting salary that looks pretty good on paper, some college grads will struggle financially. Deductions for benefits and taxes take a bite out of the paycheck, and paying for rent, car payments and insurance, plus student loans, take careful planning. Sooner, rather than later, is the right time to develop a financial strategy that can help a recent grad meet his or her financial goals. Kiplinger.com says a new grad's ideal budget would involve no more than 30 percent of take-home pay going for rent. Other housing expenses - including renter's insurance, should take about 10 percent. Transportation - including a car payment - should be about 15 percent, and car insurance and other expenses about 5 percent. With 10 percent going to savings and 15 percent for food (both eating in and eating out), that leaves 15 percent for clothing and entertainment.2 One important consideration for grads is homeowners or renter's insurance. Although the new grad's home or apartment may be furnished with low-cost pieces, just the expense of replacing that new business wardrobe could be way more than a starting salary could afford. Life insurance is another important consideration. Although many employers provide some life insurance as a benefit of employment, that insurance goes away "when an employee leaves the company. And in today's marketplace, employees tend to change jobs often. With that in mind, it's a good idea to think about some permanent life insurance, especially if there is a spouse or children to consider. Many college grads today have student loans. Federal student loan interest rates are based on the 13-week (91-day) Treasury Bill at the last auction in May of each year. Rates set then will take effect on July 1. For grads thinking about consolidating, the deadline for the old rate is June 30. Even though consolidating may help keep the interest rate lower, there is a drawback for new grads who consolidate during their grace period - they have to start making payments immediately. The interest rate on a consolidation loan is calculated by taking the weighted average of interest rates on the federal education loans and rounding up to the nearest one-eighth of a percentage point. The cap is 8.25 percent. A consolidation loan could lower a borrower's monthly loan payment by as much as 40 percent and extend the repayment period.3 Remember, nothing can change the interest rate on a loan that has already been taken out. "Whether you have new federal student loans after July 1, or you already have federal student loans, consolidating your federal student loans is the smartest thing you can possibly do," according to www.StudentLoanConsoIidatorcom. That's because federal student loan consolidation locks in the interest rate, protecting from predicted increases in interest rates.4 For new grads, there's a whole new world of opportunity waiting, and a local Farm Bureau agent can help you find the path you want to travel. For more information, call your local Farm Bureau office or log on to fbfs.com to locate an agent near you. Through an exclusive, multi-state agent force, the companies affiliated with the Farm Bureau Financial Services brand underwrite, market and distribute a broad range of financial services products, including life insurance, investments, annuities, property-casualty insurance products and services, and more to individuals and small businesses within a marketing territory that includes 15 states. Community Mortgage LENDER "Giving You A Better Option For Your Mortgage Needs" Free Prequalifications - Give us a call. • Construction Loans • Lot Loans • Purchases • Refinance - Interest Only Loans - Investment and 2nd Homes - Home Improvement Loans -100% Financing Wayne Ott 435-590-6082 Sherrell Ott 435-679-8671 ANTIMONY NEWS Page 6 LEGAL NOTICES ...by Betty Wiley The Stake Young Women Activity Night for young women and their mothers was held on Wednesday, April 25 at 7:00 p.m. in Circleville, Utah. Mary Jean Willis's sister and daughter, Mickie and Jaylynn Kirkpactrick from Orem, Utah were visiting over the weekend. Marcia Tobiasson has a birthday coming on April 29th, but no age is being given! Also, Robbie Gleave has a birthday the same day. Cheston Slater of Cedar City, husband of former Kory Willis of Antimony was one of the runners inthe Famous Boston Marathon which is 26.2 miles long. Of over 23,000 runners, Chester placed 1551 overall. There were 15 runners from Utah. We are glad to see the workers back for the summer. Several come every summer and go home in the fall when the work is done. Jerry Savage will be having his second hip done in Cedar City a week from Monday. Brent and Debbie White have been here visiting with her parents, the Ned Burrs over the weekend. The cement trucks have been busy in Antimony this past week. First the Antimony Town poured a new large water tank up on the Antimony bench. Now the subdivision at Otter Creek had had the building and water tank poured, and will be back on Tbesday to pour the lid for the tank. Robin Brown is here for a few days at her home in Angle. She came up from California and stays for a while and then returns. Her family can come and stay when school is out. She has had a modular home put on her property. My memorial flowers are here and I am busy as people come for flowers. I am not available on Wednesdays. The Piute High School Junior Prom was held on Friday evening. Several from here attended. Heather Allen, daughter of the Shannon Aliens, is a junior and they attended the prom also. Our third term honor roll at Piute High School students from Antimony consisted of Koye Willis (9th grade), Heather Allen (11 th grade), and Brady King and Koby Willis (12th grade). INVITATION FOR BIDS FOR IMPROVEMENTS TO BRYCE CANYON AIRPORT GARFIELD COUNTY, UTAH Sealed bids for improvements to the Bryce Canyon Airport, UDA Project No. 40725, will be received by the GARFIELD COUNTY, Utah County Clerk's office, 55 South Main Street, P.O. Box 77, Panguitch, Utah until May 18lh at 11:00 a.m. MDT, and then opened and read aloud. The work involved includes the following: SCHEDULE I CRACK SEAL, FOG SEAL, RE-MARK AIRFIELD PAVEMENTS A complete set of Plans, Specifications, and Contract Documents may be obtained at the office of Armstrong Consultants, Inc., 861 Rood Avenue, Grand Junction, CO 81501 for $50.00 for each set. There will be no refunds. Each bid must be accompanied by a Certified Check or Cashier's Check in an amount not less than five percent of the total bid made payable to GARFIELD COUNTY, or by a Bid Bond in like amount executed by a Surety Company. The Bidder must supply all the information required by the proposal forms and specifications, and he/she must bid on all items of every schedule. GARFIELD COUNTY reserves the right to waive any informality in or to reject any or all portions of the various bid items. No proposal may be withdrawn for a period of one-hundred twenty (120) days from the opening thereof. All bidders are advised to examine the site to become familiar with all site conditions. The project may be shown to interested bidders by contacting the Garfield County at 435676-8826. Any questions regarding this project are to be directed to the office of Armstrong Consultants, Inc., Grand Junction, Colorado, (970) 2420101, for interpretation. GARFIELD COUNTY, UTAH Published: April 26, May 3, May 10, May 17, 2006 in the Garfield County Insider |