Change Leads to No Change

Buddy, can you spare a dime? Can you find a nickel in the couch cushions? Did you just roll up the pennies in your jar?

If so, you might help resolve one of the pandemic’s unpredictable predicaments: the Unites States is facing a coin shortage. That’s right. A shortage of change.

With everything else under undulating rules, zigzagging restart dates, and clouds of masking, one would think that things that clink in our pockets and rattle in the bottom of our purses would be something we can count on.

Not so. The Fed convened a US Coin Task Force in July because it was so serious. Closer to home, Dollar Tree won’t give change, and I heard that one bank is even paying people to bring in their spare change.

Federal Reserve Chair Jerome Powell explained it to a — virtual, of course — congressional committee: since people have been staying home, shopping online, and avoiding physical currency because of the pandemic, the normal flow of coins through the economy was interrupted. Well, it didn’t help that the United States Mint stopped making coins for a couple of months in order to follow shutdown orders, but it started back stamping metal in June. Still, pennies are scarce.

And quarters. When I went to the bank to get quarters for the laundromat, the teller gave me a sideways glare, finally calling a manager to approve getting them out of the vault. I felt so special! When I took one of the rolls back to the bank because I didn’t need it, I met smiles much wider than when I bought a significant-sized certificate of deposit. I didn’t shake my head in puzzlement until back on the street.

So, everyone reading this — grab that sock full of coins and take it to the grocery store. The people standing 6 and 12 feet behind you may not be terribly happy about it as you count out your $46.37. Just tell them you’re doing your part to get the economy back on track.

This is real, folks. If we don’t change the way we’re dealing with change, we’ll have no change to make change with.

(This author has obviously been spending too much time sequestered — with her change.)

‘Tis the Season to Prepare for Your New Year’s Job Hunt

The holidays are a season of hope, but they should also be a season of preparation if you are thinking of changing jobs in the new year. According to Monster.com, January is the busiest month for job searches, although we typically see hirings begin to ramp up in February. We have found that when you apply for a job — as in, how soon you apply after the job is posted — can decide whether you get selected for an interview. That means you cannot wait until a job is posted to refine your resume, cover letter, and LinkedIn profile. We call these your personal brand, and we recommend you

How much do you know about employee benefits?

It is the time of year when employees make their benefit selections. Many of them do not know what they are selecting, but next year thousands of dollars will be deducted from their paychecks to pay for benefits they know very little about. Many employees select the lowest premium plan without realizing that it does not cover the spouse’s prescription medications or the child’s therapy. A friend of mine recently came to me for assistance in selecting her family’s benefit plans for next year. She was handed an enrollment form to make her selections and no other information. When I started asking her questions, she could not answer them. There

What Should I Do With My Money?

The point is that every person’s situation is unique, and there is hardly ever a cookie cutter answer to the question, “What should I do with my money?” This is the question I hear just about every day of my life. It is an excellent question and can only be answered with another question. Some days the answers in life are simple and other days the complexity of life is beyond our imagination. The answer to this question is somewhere in between. It begins with a couple of simple questions. First of all, what is the purpose of the money you are referring to, and what is the time frame?

Celebrate Low Interest

There are a lot of reasons to celebrate today. Sure, we are in a pandemic and many people are divided by the who’s who in politics, but there are still so many reasons to celebrate, at least in the real estate industry. Low interest rates, great mortgage incentives — for both new and seasoned buyers — and lower credit scores are celebration enough. When interest rates go down, people qualify for a higher priced home for the same monthly payment. As Chris Marr, a mortgage sales manager says, “Current rates are still low and underwriting standards have also been lowered and modified in order to help first-time homeowners with approvals.”