If you are bilingual or speak even more languages than two, there are jobs out there suited towards your strengths. Knowing more than one language is not only a personal achievement but is valued in a variety of fields of employment. Your love for linguistics can help you land a job that others may miss out on because they only speak one language.
According to NBC News, "In 2010, there were roughly 240,000 job postings aimed at bilingual workers. But by 2015, that figure swelled to about 630,000. The study also showed that bilingual workers were in demand for both low and high-skilled positions."
NBC News continues, "'In today's global economy, businesses require employees who can serve customers in a variety of languages,' John Feinblatt, chairman of New American Economy, said in a prepared statement. 'This research highlights the growing need to attract and promote a multilingual workforce.'"
According to Monster, "The most sought-after languages employers hire for—according to data from the Center for Immigration Studies and New American Economy - are for speakers of Spanish, Chinese, and Arabic. And that translates to more jobs calling for a bilingual skill set."
The uptick in sought-after employees who speak these three languages (among others) is seen nation-wide, but some cities (generally port cities) are hubs for bilingual employees. Monster lists the top ten:
1.Los Angeles, California
2.New York, New York
7.San Francisco, California
So, if you are bilingual and located in or near one of these large cities, your language skills are your strong suit. Here are five careers to consider if you speak more than one language and want to utilize your talents on the job.
If you have the freedom to travel and love the idea of interacting with people and aiding air travelers to and from their destinations, becoming a flight attendant could be your dream job. Not only will you visit exciting places and meet new people, but your bilingual skills will be useful when communicating with international flyers. As per Live Lingua, "If an attendant has the ability to speak with a diverse range of passengers, it increases the safety and understanding of everyone onboard."
Customer service repcheatsheet.com
Nearly every company has a customer service department or at least someone in the role of aiding customers and clients. This provides a good deal of job opportunity in this field. That said, being bilingual makes a prospective customer service employee even more valuable. According to The Mezzofanti Guild, "Customer service roles of just about every kind are increasingly in need of more multilingual staff." Your ability to communicate with speakers of a native tongue can help a company retain and gain customers.
Online Content Creator
There is so much available work for online content creation. The internet offers endless possibilities for a platform for content, be it for blogs, websites, social media, etc. Being able to produce content for American companies in another language helps them broaden their consumer base. Whether you can create new content or translate existing content, your bilingual talents will prove indispensable. Not to mention, much online content work can be done remotely, so you can live practically anywhere in the world and use your bilingual skills to your advantage.
Social work is a selfless job, one that takes a special kind of patience and personality. If helping the lives of others is close to your heart, think of how many more people you can reach thanks to your language skills. As Live Lingua notes, "A social worker is involved in personal details of a client's life. If he or she can communicate in the heart language of the family or individual that is being treated, it gives them an edge over other candidates. This is a career path for anyone with a heart and commitment to serve others."
Human resources shutterstock.com
Companies rely on their human resources department to keep the business in check - from hiring to training to making sure people comply with company standards and rules. Speaking more than one language allows the HR specialist to reach more people within the company including those who may work abroad. As per Live Lingua, "The ability to speak multiple languages is an asset during the interview and training processes, particularly for companies that hire workers for manufacturing or manual labor."
According to New American Economy, "The demand for bilingual workers is rising." Use your second language skills to succeed!
When you take out a loan for a car, charge something to your credit card, or get a personal line of credit, there is going to be an interest rate that applies to your loan.
A lot of different factors go into what you will be charged, including your own personal credit score. But even those with flawless credit still see a minimum charge that they can't get around. That all goes back to the Federal Funds Rate.
One thing consumers rarely realize is that all of our banks are lending money to each other every night. Banks are legally required to maintain a certain percentage of their deposits in non-interest-bearing accounts at the Federal Reserve to ensure they have enough money to cover any withdrawals that may unexpectedly come up. However, deposits can fluctuate and it's very common for some banks to exceed the requirement on certain days while some fall short. In cases like this, banks actually lend each other money to ensure they meet the minimum balance. It's a bit hard to imagine these multibillion-dollar financial institutions needing to borrow money to tide them over for a bit, but it happens every single night at the Federal Reserve. It's also a nice deal for those with balances above the reserve balance requirement to earn a bit of money with cash that would normally just be sitting there.
The Federal Reserve
The exact interest rate the banks will charge each other is a matter of negotiation between them, but the Federal Open Market Committee (FOMC) (the arm of the Federal Reserve that sets monetary policy) meets eight times a year to set a target rate. They evaluate a multitude of economic indicators including unemployment, inflation, and consumer confidence to decide the best rate to keep the country in business. The weighted average of all interest rates across these interbank loans is the effective federal funds rate.
This rate has a huge impact on the economy overall as well as your personal finances. The federal funds rate is essentially the cheapest money available to a bank and that feeds into all of the other loans they make. Banks will add a slight upcharge to the rate set by the Fed to determine what is the lowest interest that they will announce for their most creditworthy customers, also known as the prime rate. If you have a variable interest rate loan (very common with credit cards and some student loans), it's likely that the interest rate you pay is a set percentage on top of that prime rate that your lender is paying. That's why in times of low interest rates (it was set at 0% during the Great Recession), a lot of borrowers should go for fixed interest rate loans that won't increase. However, if the federal funds rate was relatively high (it went up to 20% in the early 1980's), a variable interest rate loan may be a better decision as you would be charged less interest should the rate drop without the need to refinance.
The federal funds rate also has a major impact on your investment portfolio. The stock market reacts very strongly to any changes in interest rates from the Federal Reserve, as a lower rate makes it cheaper for companies to borrow and reinvest while a higher rate may restrict capital and slow short-term growth. If you have a significant portion of your investments in equities, a small change in the federal funds rate can have a large impact on your net worth.
Whether you're leaving a job involuntarily, departing for something new, or just want to prepare for the unknown, it is smart to understand all your options regarding your 401k.
Frugal gifting often gets a bad reputation. However, this shopping method does not make you cheap — it makes you practical. Frugal gifts often avoid waste and overspending and can be just as meaningful (if not more so) as any other present.
With the National Retail Federation predicting each consumer this holiday season to spend upwards of $1,000 on holiday gifts amidst an economic recession —this year might be the perfect time to reconsider your spending budget. We've formulated the ultimate list of frugal gift-giving ideas to get you started.