For nearly all of us, having a job is a must. Aside from the money earned, we perform a duty of some sort that help keeps the world go 'round. Some folks love what they do, others can't wait for the clock to strike 5 (or whenever the workday comes to a close.) And while we all can't have our "dream job," whatever that may be, finding happiness in the work we do makes life so much sweeter.
If you are just starting to plan your career or are looking for a change to improve your overall life satisfaction, consider the following careers which have been determined to have a high happiness rate. Work can be wonderful when you've got a smile on your face!
Teachers have one of the most important roles in our lives. Their salaries may not reflect the hard work they do, but those who go into the profession do it for the love of children and the desire to make their futures brighter.
As told to Business Insider, teacher Cheryl Gferer described why teaching makes her happy. "My students teach me how to face challenges, how to behave with integrity, how be more than people expect of me, how to stand up after being knocked down. it is the most gratifying job I can imagine. I'm lucky to be a teacher."
Monster ranks teaching as one of their top 10 industries for job satisfaction. "Educators enjoy teaching the next generation valuable skills and knowledge that will help them achieve success," they explain.
Their lives are on the line but that doesn't mean firefighters don't find satisfaction in the risky role they've taken on. As per Business Insider, "They have a supremely important job that's also highly rewarding. They protect people and their most sacred possessions. Second, the work environment is a good one. They develop strong bonds by spending so much time together."
America's Job Exchange adds, "Studies have shown that people's job satisfaction rises with how well their jobs are respected by society. Therefore, it makes sense that firefighters would experience such high levels of happiness with their positions." And who doesn't have appreciation for the men and women willing to risk their lives for ours?
Physical Therapist atlanticptcenter.com
Forbes notes how "social interaction and helping people" make the job of a physical therapist one of the happiest. As per the American Physical Therapy Association (APTA), "Being a physical therapist is very rewarding. You will work with patients one-on-one, see them progress through treatment, and know that you are really making a difference in their lives."
Not to mention job security and a nice salary. APTA adds, "According to the Bureau of Labor Statistics, the demand for physical therapists is expected to spike upward by an astonishing 34% between 2014 and 2024—a much quicker rate than average." Business Insider remarks on pay, "Salaries also tend to go up with each year spent in the field, rewarding a commitment to that career."
While many of us dread going to our accountant or tax consultant, the job lends itself to happiness. "This career made Forbes' 'Happiest Jobs in America List' and has even been named one of the greatest jobs by U.S. News & World Report," according to Nexxt.
As Monster explains, "A good work-life balance helps this industry nab the top spot—perhaps owed to the seasonality of the work. Reviewers in the field also heralded the fact that they're trusted to work autonomously. (They have) the ability to be relaxed and having never been chased for hours or orders by management."
Nexxt further describes why accountants are among the most satisfied workers, "Aside from good pay and job stability, accountants can be the happiest people on Earth due in large part to the job satisfaction that comes from helping people navigate rough financial territory."
If these jobs aren't your calling, consider these perks and plusses of what makes people happy at work, according to JobDig.
- A short commute
- Being in control of your own work
- They are listened to
- They are cared about
- They are given freedom
- Having mission-driven work
- Being challenged and able to grow
If you are lucky enough to find one or more of these examples in your workplace or can make it happen, happiness on the job can be realized.
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.