This organization has sure hit it off with many of the students in Craig's class. Tom's shoes is a company that gives shoes to those in third-world countries who can't afford to buy their own. When you purchase a pair of Tom's shoes, the company sends a pair to someone in need. To date, they have given away 60,000 pairs of shoes since their beginning in 2006. It is their current goal to give out more than 200,000 pairs, and they need help. Remember that one of the signature strengths is to "clothe the naked."
Not to sound preachy, but imagine if you didn't have shoes and had to walk around all day with bare feet in the forests of Argentina or the savannahs of Africa. Walking around on concrete in my worn slippers hurts my feet after a couple minutes, so that scenario makes my feet hurt just thinking about it. To learn more or to buy a pair, click here. To watch a video of the company's shoe drop in Argentina, click here.
Monday, April 6, 2009
Enduring Happiness Facebook Group
If you have come to this blog from somewhere other than the Facebook group, please check it out. Do a search for "enduring happiness" It is the first result of the search. I set up the group so that everyone interested could share topics related to positive psychology and enduring happiness, and share any personal findings or insights. Please check it out; due to the networking effect, the more people in the group, the greater the benefit to each person in the group.
Signature Strengths Test
For those of you who are really having trouble finding out what you're good at, may I suggest this test. I Googled Positive Psychology, which is an emerging science dedicated to the principles espoused in Craig's class. The test is a series of 24 questions designed to show the relative strengths and weaknesses in who you are as a person. Your results aren't absolute, you are compared to people with similar characteristics as you, such as the same age group, geographic location, education level, etc. I found that my results were really similar to how I perceived myself. Learn more about the test and a lot of other topics realted to Positive Psychology here.
If you're interested in positive psychology, Google Martin Seligman and browse through the results. I also found out that degrees are being offereed in this area. Penn is offerring a Masters in Applied Positive Psychology. That sounds like a really interesting masters program; too bad I'm a business student. To look into this, as well as a video of Dr. Seligman, click here.
If you're interested in positive psychology, Google Martin Seligman and browse through the results. I also found out that degrees are being offereed in this area. Penn is offerring a Masters in Applied Positive Psychology. That sounds like a really interesting masters program; too bad I'm a business student. To look into this, as well as a video of Dr. Seligman, click here.
Sunday, April 5, 2009
(Sausage) Links
Here are some quick and interesting things to look at.
Arthur Brooks Forum
Mr. Brooks, author of Gross National Happiness, came and spoke at BYU a month ago about why we should give. He is a professor at Syracuse, and has done in-depth research on the benefits of giving, both to the individual, and to the nation as a whole. Above are the audio and video links.
Motley Fool
These guys will tell you more than you ever wanted to know about investing. Their dumbed-down, no-nonsense approach makes learning such a difficult subject easy. Their website features a variety of free content. I have read several of their books, such as Investing For Teens, and have found them to be very informative.
LDS Financial Talks
Below are some talks given by General Authorities relating to wose management of finances. They are all worth a read, as a vast majority of people haven't mastered the simple principles given here.
Earthly Debts, Heavenly Debts
Climbing Out of Debt
Guide to Family Finance
Arthur Brooks Forum
Mr. Brooks, author of Gross National Happiness, came and spoke at BYU a month ago about why we should give. He is a professor at Syracuse, and has done in-depth research on the benefits of giving, both to the individual, and to the nation as a whole. Above are the audio and video links.
Motley Fool
These guys will tell you more than you ever wanted to know about investing. Their dumbed-down, no-nonsense approach makes learning such a difficult subject easy. Their website features a variety of free content. I have read several of their books, such as Investing For Teens, and have found them to be very informative.
LDS Financial Talks
Below are some talks given by General Authorities relating to wose management of finances. They are all worth a read, as a vast majority of people haven't mastered the simple principles given here.
Earthly Debts, Heavenly Debts
Climbing Out of Debt
Guide to Family Finance
Professor (Master) Norm Nemrow
I'm taking Accounting 200 as a part of my Business Management major; Professor Norm Nemrow is my teacher. He is one of the highest-rated professors there is at BYU, and I'm glad to have him as my teacher for accounting; it would be a lot harder with other people teaching it. Anyway, one of the supplemental lectures in the class had a really great message, and it tied in a lot with Craig's class , so I though I'd share it. It focuses primarily on financial independence. I'll try to re-create the message and add my own insight; remember that I'm going off of poorly-written, bullet-point notes.
Financial Independence
Norm (this is a lot shorter and easier to write every time than Professor Norm Nemrow) prefaced his discussion by talking about the true nature of wealth. to emphasize his point by telling a story recounted by Spencer W. Kimball. He had a friend who had many possessions, a large estate, and lots of riches. When he found out this friend has died, and he came to this friend's funeral, he noticed that all of his friends possessions were still there, as was the property and all his riches. Obviously this man hadn't taken any of his material possessions with him into the next life. President Kimball stated at a graveside funeral address, essentially, that this man's riches had kept him out of Heaven, because they had distracted him during his mortal life.
Coming from this story, Norm posed a question as to what was really ours. He then went through some things that we might now consider ours. Our riches aren't ours, because they, along with everything else on this earth, are of God's creation. Our time isn't ours, because God lends us breath, to state it as King Benjamin in the beginning in the book of Mosiah. our talents aren't ours, because God has given us the faculties and the resources to develop these talents, and they can be easily taken away. He concluded that the only thing that is really ours is our will. We shape this and exercise it through our gift of agency (which was also given to us by God, ironically), and the true test of this life is whether or not we will turn our wills to do that which God would have us do, and serve both Him and others while we are on this Earth.
From this idea, Norm concluded that the true reason to becoming financially independent is so that we can serve others with the time, resources, wealth, and talents that we have accumulated in this life. This idea goes right back to the point of choice, which is why I decided to write this particular article. Norm stated that once we get to the point of choice/financial independence, we should free ourselves from obligations and engage in the work that is most meaningful to us and help others.
The Problem With Wealth
Norm stated that there is a problem with wealth in that, after a while, it leads us away from true financial independence. He said that, after a while, we think that we, through our own cunning and might, have earned what we have, and we have a right to it. In essence, we become prideful, which is not conducive to reaching the point of choice, because we aren't likely to serve others when we think we are better than they are.
Going back to earlier, nothing we have is really ours; it all belongs to God. This idea should govern our actions, along with the accompanying belief that we are merely stewards over what God has, through his grace, given us. As is stated in the scriptures, nothing offends God more than not confessing his hand in all things.
Doing What You Love
Norm then talked about what to do when we reach the point of financial independence. He quoted president Hinckley, who gave counsel to do what you love, something that will wake you up in the morning and will keep you up at night. He said to choose to do something that you would do even if you weren't getting paid for it. After a while, Norm said, you will become an expert in that field because of your studying and your passion for it, and excellence automatically rises to the top.
Financial Independence
Norm (this is a lot shorter and easier to write every time than Professor Norm Nemrow) prefaced his discussion by talking about the true nature of wealth. to emphasize his point by telling a story recounted by Spencer W. Kimball. He had a friend who had many possessions, a large estate, and lots of riches. When he found out this friend has died, and he came to this friend's funeral, he noticed that all of his friends possessions were still there, as was the property and all his riches. Obviously this man hadn't taken any of his material possessions with him into the next life. President Kimball stated at a graveside funeral address, essentially, that this man's riches had kept him out of Heaven, because they had distracted him during his mortal life.
Coming from this story, Norm posed a question as to what was really ours. He then went through some things that we might now consider ours. Our riches aren't ours, because they, along with everything else on this earth, are of God's creation. Our time isn't ours, because God lends us breath, to state it as King Benjamin in the beginning in the book of Mosiah. our talents aren't ours, because God has given us the faculties and the resources to develop these talents, and they can be easily taken away. He concluded that the only thing that is really ours is our will. We shape this and exercise it through our gift of agency (which was also given to us by God, ironically), and the true test of this life is whether or not we will turn our wills to do that which God would have us do, and serve both Him and others while we are on this Earth.
From this idea, Norm concluded that the true reason to becoming financially independent is so that we can serve others with the time, resources, wealth, and talents that we have accumulated in this life. This idea goes right back to the point of choice, which is why I decided to write this particular article. Norm stated that once we get to the point of choice/financial independence, we should free ourselves from obligations and engage in the work that is most meaningful to us and help others.
The Problem With Wealth
Norm stated that there is a problem with wealth in that, after a while, it leads us away from true financial independence. He said that, after a while, we think that we, through our own cunning and might, have earned what we have, and we have a right to it. In essence, we become prideful, which is not conducive to reaching the point of choice, because we aren't likely to serve others when we think we are better than they are.
Going back to earlier, nothing we have is really ours; it all belongs to God. This idea should govern our actions, along with the accompanying belief that we are merely stewards over what God has, through his grace, given us. As is stated in the scriptures, nothing offends God more than not confessing his hand in all things.
Doing What You Love
Norm then talked about what to do when we reach the point of financial independence. He quoted president Hinckley, who gave counsel to do what you love, something that will wake you up in the morning and will keep you up at night. He said to choose to do something that you would do even if you weren't getting paid for it. After a while, Norm said, you will become an expert in that field because of your studying and your passion for it, and excellence automatically rises to the top.
Saturday, March 28, 2009
Microcredit - Charity Without Giving
Here is a paper I wrote for my Accounting class on microcredit as an emerging form of charity.
Microcredit is the loaning out of money to small businesses who normally wouldn’t qualify for traditional bank loans. These loans are given to business owners in third-world countries to help spur entrepreneurship. These individuals wouldn’t qualify for any alternative forms of credit due to their lack of collateral or steady employment, and therefore would have more difficulty starting their own businesses. Microcredit is designed to help move people out of poverty by funding their own enterprise.
KIVA is a relatively new invention for spreading the idea of microcredit. It is an NPO based in San Francisco that makes microcredit loans to third-world entrepreneurs by going through local banks. These banks post profiles of entrepreneurs looking for loans, and lets KIVA users choose who to donate to online. The transactions are made through PayPal, who doesn’t collect interest or fees off of KIVA transactions. KIVA users can choose to withdraw funds or continue to lend after the full amount of their loan is paid back. Internet access, in some cases, allows the entrepreneurs to connect directly with the lenders, providing personal communication with the person and the business you are benefitting. To date, KIVA has distributed over $63 million in loans and currently has a 97.79% repayment rate. Because of its small size and low costs, KIVA is able to charge much lower interest rates than traditional financial institutions, sometimes as low as 2.5%.
The innovative idea behind microfinance as opposed to traditional charitable contributions is that these “gifts” are actually loans, which will be paid back. So, essentially, nothing is lost except negligible interest, whereas donations are not repaid. An excellent business model is that of African shaved ice. The company operates on the premise that they give all profits to KIVA to make loans with, and after the loans are repaid, they take the profits back into the business. The business is a mobile shaved ice shack with profiles of KIVA entrepreneurs posted on the side of the shack. Each purchase of shaved ice gives you a token that you can put towards a loan for whichever entrepreneur you choose. Each token represents an amount that will be donated to that entrepreneur. I was amazed when I first heard of this idea, because you could help other people without depleting your own resources.
Microcredit is the loaning out of money to small businesses who normally wouldn’t qualify for traditional bank loans. These loans are given to business owners in third-world countries to help spur entrepreneurship. These individuals wouldn’t qualify for any alternative forms of credit due to their lack of collateral or steady employment, and therefore would have more difficulty starting their own businesses. Microcredit is designed to help move people out of poverty by funding their own enterprise.
KIVA is a relatively new invention for spreading the idea of microcredit. It is an NPO based in San Francisco that makes microcredit loans to third-world entrepreneurs by going through local banks. These banks post profiles of entrepreneurs looking for loans, and lets KIVA users choose who to donate to online. The transactions are made through PayPal, who doesn’t collect interest or fees off of KIVA transactions. KIVA users can choose to withdraw funds or continue to lend after the full amount of their loan is paid back. Internet access, in some cases, allows the entrepreneurs to connect directly with the lenders, providing personal communication with the person and the business you are benefitting. To date, KIVA has distributed over $63 million in loans and currently has a 97.79% repayment rate. Because of its small size and low costs, KIVA is able to charge much lower interest rates than traditional financial institutions, sometimes as low as 2.5%.
The innovative idea behind microfinance as opposed to traditional charitable contributions is that these “gifts” are actually loans, which will be paid back. So, essentially, nothing is lost except negligible interest, whereas donations are not repaid. An excellent business model is that of African shaved ice. The company operates on the premise that they give all profits to KIVA to make loans with, and after the loans are repaid, they take the profits back into the business. The business is a mobile shaved ice shack with profiles of KIVA entrepreneurs posted on the side of the shack. Each purchase of shaved ice gives you a token that you can put towards a loan for whichever entrepreneur you choose. Each token represents an amount that will be donated to that entrepreneur. I was amazed when I first heard of this idea, because you could help other people without depleting your own resources.
Links: KIVA
Financial Tools
A large part of happiness is being financially secure. When you don't know how your bills will get paid or how you'll take care of the mortgage or how you'll put food on the table, it's almost impossible to be truly happy, because no matter what, you'll always have those worries in the back of your mind. So, managing money well, and laying up resources in store for for the future is vital, because none of us, especially not the weathermen, know when the rainy days will come. With this in mind, I'd like to let you in on some secrets I learned about yesterday; a plethora of tools and learning materials that are too much to all be used, but are at least enough to get you on the right track.
Enter BYU's Personal Finance program. They have generously provided an online course, as it were, on everything personal finance. The Beginner Lessons provide the proper foundation to learn about personal finance, by teaching you about the proper motivation behind managing money, setting both personal and financial goals, the basics of credit, charitable giving, etc. The Intermediate Lessons deal with specific issues that most if not all of us will face in adult life, like debt, time-value of money, insurance, etc. The Advanced Lessons teach exclusively about investing and retirement. Dr. Sudweeks, a professor in the personal finance department and a professional investor, taught a mini-lesson on the basics of investing. (BTW - he is also one of those Point of Choice people; he retired early as an investment manager to come to teach at BYU.) In this lesson, he taught us many of the basics provided in these lessons, and I really enjoyed what he had to say. I would STRONGLY encourage you to check these lessons out by visiting this website.
Also, as a side note, I would encourage you to look at the videos in this YouTube search about Dave Ramsay. He is a prominent financial management lecturer based in Salt Lake City who, through his charismatic atitude and Southern accent, make learning these principles interesting, to say the least. Also on YouTube, check out the Real Financial Heroes series, which mockuments the absurdity of the modern consumer mindset.
Enter BYU's Personal Finance program. They have generously provided an online course, as it were, on everything personal finance. The Beginner Lessons provide the proper foundation to learn about personal finance, by teaching you about the proper motivation behind managing money, setting both personal and financial goals, the basics of credit, charitable giving, etc. The Intermediate Lessons deal with specific issues that most if not all of us will face in adult life, like debt, time-value of money, insurance, etc. The Advanced Lessons teach exclusively about investing and retirement. Dr. Sudweeks, a professor in the personal finance department and a professional investor, taught a mini-lesson on the basics of investing. (BTW - he is also one of those Point of Choice people; he retired early as an investment manager to come to teach at BYU.) In this lesson, he taught us many of the basics provided in these lessons, and I really enjoyed what he had to say. I would STRONGLY encourage you to check these lessons out by visiting this website.
Also, as a side note, I would encourage you to look at the videos in this YouTube search about Dave Ramsay. He is a prominent financial management lecturer based in Salt Lake City who, through his charismatic atitude and Southern accent, make learning these principles interesting, to say the least. Also on YouTube, check out the Real Financial Heroes series, which mockuments the absurdity of the modern consumer mindset.
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