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Show 'Sweetheart Smoothie Deal! ?5 Buy a 32 oz smoothie get a 20 oz FREEI C_, :i ours kW%-Tiir hisin fl-9 Fri-S,At "J-tt WA-W »jrn^Tlir*lnpi;ofTi kteri-5ul 7-11 4^6-755-6123 G- 5 °» ~'.S Western Wats Western Wats has increased wages, and we are still willing to work around your schedule. We still offer weekly pay, a fun work environment, and we'll give you time off for school events, tests, and holidays. Call Cody 753-1303 or apply online at surveynetwork.com/application. Hey Aggies, Did you know USU has retrofitted 3.5 million square feet of space with new efficient fluorescent lighting, reducing the power bill by 30%. The average American uses four and one half times as much energy annually as the rest of the world. Save a Watt - Save a Lot! UtahState UNJV.ERSJTY Wednesday, Feb. 6, 2008 Key to wealth depends on time length r? •dT29 -fott*. V.in St. c-i AgezeLife Page 6 Q-2 < has questions on investing, their best source is to find someone who has knowledge in a variety of areas concerning investing. "Find someone who has the capability to answer your questions about alltypesof different investments, from By COURTNIE PACKER sen/or writer By starting at a young age, Philip Swenson, professor of finance at USU, said if an individual invests just $25 or $50 a month, they would be amazed at how much money it would grow into. "By starting young, you can plan for long-term wealth accumulation relatively easy," Swenson said. "It is just a matter of investing." Swenson said investing is simply placing the money into debt or ownership securities for the purpose of making a rated return over time. Kent Haueter, a certified financial planner at Harold Dance Investments, said there are different types of investing, such as the stock market and real estate. It all just depends on the person. "For each person who is looking into investing, there is a different situation," Haueter said. "It all depends on what they are trying to accomplish, and it depends on the amount of time they have to invest." Swenson agreed and said the key to wealth depends on the time horizon a person has set. "The key to wealth is not very difficult to understand," Swenson said. "It is starting young and pursuing the systematic and periodic course of continuous investment through time." Swenson said in his investing classes, he encourages his students to run to the bank and open an IRA account. An IRA account, he said, is a type of an account that meets the internal revenue sendee qualifications for special tax treatment. "If you save money in an IRA account, all the money that you contribute to that account is not part of your Speak Up "It is starting young and pursuing the systematic and periodic course of continuous investment through time..." Philip Swenson, professor real estate, mutual funds and stock," Haueter said. "You can even find a lot of information on Web sites now. But it has now reached a point where there is almost loo much that you can become confused," Swenson said online investing has now become a very KENT HAUETER, CERTIFIED FINANCIAL PLANNER, cheap and quick way to begin SAID D E C I D I N G O N investing options, like the stock market or an account. real estate, depends on the person. PATRICK ODEN photo illustration "Students are now savvy enough that they can go online people frequently get the two taxable income," Swenson said. to some of the big online bromixed up. "And not only that, but all of ker accounts. Online you can the accumulations and growth The article states the goal of now fill out the application for that occurs, or the interest and investing is to increase the prin- an IRA account, or any other dividends that you might make cipal and get a greater return, account for that matter," Swenin that investment, grow tax whereas the goal of saving is son said. "It is a very cheap and deferred. So you are essentially to preserve one's principal, or easy way to access mutual funds making money on what you original dollars saved, so it will and investments that go into otherwise would pay as taxes." be available whenever needed. the account." Swenson also said IRA acThe article also stated that Swenson also assured that counts are great ways to save while most types of savings are for anyone looking into investmoney for retirement. readily accessible, some have ing, only one qualification is a maturity date and require a According to the article, necessary to start investing. penalty for early withdrawal. "Investing Basics," written by "You have to invest in these However, most investments Joan Gray Anderson, Kristin types of accounts with earned are not easily accessible and DiSpirito and Claudia Kerbel, income," Swenson said, "so do carry a penalty for early individuals know there is a basically anybody can do it." large difference between invest- withdrawal. - courtnie.packer@aggiemaii usu. ing and savings, but many Haueter said if an individual edu Take charge of own finances By RENAE COWLEY staff writer GEIC0.Ai5-mmutecall could save you 15% on car insurance. 1513 N. Hillfield Rd., Suite 3 (801) 752-O485 The old adage, "The only sure things in life are death and taxes" might propel USU students to find new ways to reduce debt and increase savings through a family finance class and with a new organization on campus called Aggie Saves. Alena Johnson, who teaches the family finance class, said her students cover a wide array of financial content including budgeting, savings, credit cards, credit history, insurance, investment, retirement and identity fraud. Family finance counts as a depth social science credit, and there are no prerequisites to taking this course. Johnson, who obtained her bachelor's and master's degrees at USU, said she taught as a graduate student and "was more than happy" when she was asked to stay on as a professor. "I wish I had the opportunity to take this class when I was in school. Teaching it even reminds me to do things, like order a credit report, and I keep learning more and more about taxes," Johnson said. Johnson said her class has a wide assortment of demographics, spanning from students right out of high school who don't have credit cards to married couples that have been doing their own finances for years. After taking this class, Johnson said students have a better understanding of how to balance their budget. Some are even able tofiletheir own taxes, and it gives them a "great jump start" on their ownfinances,she said. Mikalyn Newhousc, sophomore majoring in speech pathology who took the class last semester, said, "I was surprised at how complex finances really can be, but I feel pretty knowledgeable now about building my credit and staying out of debt." Apart from the classroom, there are other ways for students to ieam about finances, such as several clubs on campus and the new nationally affiliated program called Aggie Saves. ALENA JOHNSON, FAMILY FINANCE PROFESSOR, SAID she wishes she had the opportunity to take the family finance class when she was in school. CAMERON PETERSON photo Aggie Saves is a pilot program being implemented at Kansas State and Virgina Tech as well as USU and is affiliated with the America Saves program, said student coordinator, Christine Ballard. It is tailored to USU students, faculty and staff and encourages them to use sound financial practices by reducing debt and promoting savings, according to Ballard. If it is successful, it can grow to other universities around the nation, Ballard said. Student coordinator of the program, Christine Ballard, said, "We have a negative national savings rate, so students need to form good habits now." Ballard, senior majoring in family finance, said with credit cards on the rise and the use of students loans, it is important for students to learn how those things will affect them in the future and should start planning now. "With Aggie Saves, people will sign up and say what their goals are, such as saving for a particular item, a vacation, or just reduce their debt," Ballard said. The member will be contacted by program coordinators who will help them with those goals, she said. They can also get on the Web site and talk to other savers. In conjunction with America Saves week, Aggie Saves will be hosting a savings event Feb. 25 in the Taggart Student Center Ballroom with speakers on finances, financial institutions offering better rates and lower minimums as well as food and prizes. Ballard said the Aggie Saves program is working on contacting other clubs and organizations on campus and offering to give a presentation on finance and how it applies to individuals as well as groups. For more information on this presentation, contact Christine Ballard at christine.ballard@aggiernail. usu.edu. 'renae.cowley@agffemailusu.edu |