We all know a few places where dogs belong: the park, the backyard, and walking down the street. But what about in the office? The Yahoo Finance Company of the Year is doing things a bit differently. Nvidia lets its employees bring their dogs to work. And it's actually a good thing.
It might seem like a disaster waiting to happen, but the CEO of Nvidia thinks that being a responsible dog parent means making sure your dog isn't lonely all day. So why not bring in your best buddy to the office for some good old corporate fun?
Of course, there have to be some ground rules. For instance, everyone has to pick up after their dog and needs to be responsible. Also included in their pet policy: dogs are not allowed in indoor common areas and conference rooms, they need to be on a leash when walked, and they can never be left alone (that's where your coworkers come in).
But Nvidia is not the first and only company to do this. Other state of the art companies such as Alphabet and Salesforce also allow dogs in the office. But why?
Well, first of all, it saves a lot of money on dog walkers. Second, it can relieve stress, since there's always something fluffy for you and your coworkers to pet. It can help bring together the office community. But the catch is, Nvidia doesn't allow cats in the workplace because they're less likely to be adaptable to a new environment.
So is it a good idea or just a whole lot of hassle? Well, according to a survey at the Banfield Pet Hospital, "7 in 10 employees and HR DMs say pets at work make a positive impact on office dynamics and workplace morale." Maybe it helps bring down the intensity a bit. But the problem is, having dogs in the workplace could be the right formula for behavioral problems, according to veterinary behaviorist E'Lise Christensen. Whatever side of the coin you're on, having dogs at work is one way companies are increasing morale at the office.
For more on animals in the workplace, click here!
The Federal Reserve sets the guardrails for the federal funds rate, and through that helps control the money supply for the nation.
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 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.
diy gifts
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.
