According to the Bureau for Labor Statistics, the average employee between 25 and 54 with children spends 8.9 hours a day working and only 1 hour a day eating and drinking. Seems about right. In our workaholic solar system, the office is the sun, and the employees are the asteroid belt, or something, revolving around it (we're not space experts). Whatever the metaphor you choose to describe it, and whatever industry you're in, working will likely take up the biggest chunk of your day, and the government is well aware.
While some of us keep in our own little bubble at work, no business is exempt from following standard labor practices set forth by the United States Department of Labor. In fact, there are 180 federal laws set in place to help regulate the practices of 10 million employers and protect the rights of 125 million employees country-wide. If your workplace is law-abiding, you'll have the required labor law posters visible to all employees on the premises. But do you ever take a moment to read them? Many employees are not aware of their breadth of rights, and many employers (especially for small businesses), are not aware of them either. These three impertinent labor laws are essential for any 9 to 5'er, or 9 to 9'er, to know.
Occupational Safety and Health Administration
Under the laws of the Occupational Safety and Health Administration, otherwise known as OSHA, employees are required to work in a safe environment free of hazards that span a variety of categories including scaffolding, electrical, and machine safety. However, even if you don't work in a visibly "dangerous" environment, or if the problem you are experiencing will not cause serious injury or death, OSHA still protects you under De Minimus violations. While inspectors wouldn't fine a company for this, they will speak to the employer and keep the complaint on file.
Regardless of knowledge of OSHA violation, all employees have the right to file a complaint and request a workplace inspection if the employee believes there is a health risk for violations that currently exist or existed in the past 6 months. All confidentiality will be upheld. To file a complaint online, click here. You can also fax, mail, or call in a complaint, here. You will get protection from retaliation if you file a complaint. This means, you can't be fired, demoted, or transferred as a result of the complaint.
For more on health violations that could be lurking in your workplace, click here.
Family and Medical Leave Act
We all think we know about maternity leave, right? But there's always confusion as to whether there's a certain time limit, whether or not it's paid, and does that go for adoption, too? Under the Family and Medical Leave Act, employers of 50 or more are required to provide up to 12 weeks of unpaid, job-protected leave to eligible employees. Eligibility includes within one year of the birth or adoption of a child, or a serious illness of the employee, employee's spouse, child or parent. This leave is not required for other family members or close friends.
Eligibility also involves having worked for the employer for at least 1 year, and at least 1,250 hours (that's a little over 52 days), 1 year preceding the leave. For more on whether you or your employee are eligible for for workplace leave, click here.
Wage and Hour Division
While many of us work 40-hour-per-week jobs, certain divisions keep employees working long into the night. But how do you know when you're working overtime? Can employers tell employees they're not allowed to work overtime?
According to the United States Wage and Hour Division, covered, nonexempt employees are required to receive overtime pay for hours exceeding 40 per workweek (this also means a regularly recurring period of 168 hours or 7 consecutive 24-hour periods) at a rate of one and half times the regular. And yes, for employees over 16 years old, there is "no limit" on the number of hours they may work in any given workweek. However, overtime pay is not required when employees work on weekends or holidays.
According to the Fair Labor Standards Act, "employ" means "to suffer or permit to work." The workweek includes all the time during which an employee is required to be on work premises or to their assigned workplace. The workday includes the time in between which the employee starts his or her "principal activity" and ends it: "The workday may therefore be longer than the employee's scheduled shift, hours, tour of duty, or production line time." This fact means that an employee can voluntarily keep working after his or her shift is up, to "finish an assigned task or to correct errors." Whatever the reason, the Fair Labor Standards Act requires that these hours be paid, as they are spent doing work.
For more information on overtime and other wage laws, check this out.
Labor laws are impertinent. They protect the rights of the most valuable assets to any business: its employees. It's essential to be aware of the U.S. labor laws in order to comply and uphold the business standards set in place to keep America's labor force safe.
For more on state-specific labor laws, click here.
The National Financial Educators Council (NFEC) surveyed young adults in 2017 and asked them what high school level course would benefit their lives the most.
The majority responded that money management was the course that would be most beneficial.
With personal debt is at its highest record and COVID-19 threatening to have the hardest economic effects on youth, understanding money and finances is an important life lesson that should be taught to children at a young age.
The following is a list of the best financial literacy lessons and tips to teach children throughout different life stages.
I thought I had a pretty good handle on my finances out of school. I worked several jobs while attending university and had little to no problem managing my income. However, once I graduated, I realized how much more complicated personal accounting could really be.
There were so many variables I needed to keep track of. Biweekly bills, monthly charges, and general necessities amounted to a heap of confusing numbers that were often impossible to decipher. The funniest part was that I was actually trying to do this by hand (I don't know what I was trying to prove to myself, either).
After messing up for the 17th time, I decided to give Microsoft Excel a shot. I used Excel a bit in school and I knew all the big-wig finance people used it, so what could I possibly have to lose? The answer is about six hours of my precious time. Excel isn't much of an improvement over handwriting and it's still dependent on the user to manually input all of the information. It's like doing everything by hand with the slightest help, meaning that it still required a tremendous amount of time and concentration. Well that was all for nothing, I guess.
It's sort of funny. I was certain that I could manage my personal finances with ease, when it's practically a full-time job. I was already stressed out enough with my first job and I knew I didn't have enough time to give my finances the attention it deserved.
That's why I decided to try out a budgeting app. My best friend told me that he uses an app called Truebill to manage his finances. "What does it even mean to manage your finances?" I asked him. He told me that Truebill was the personal financial assistant I wished I could have. It could aggregate all of my account information into one place and give me specific insights and actions.
I loved the idea of having full control over my finances, especially during a time of financial uncertainty, and I realized that Truebill would be the easiest way to accomplish this. The user interface is incredibly simple and intuitive, so it doesn't even feel like a finance app! Truebill offers a multitude of features, with their most popular being the ability to cancel subscriptions with the press of a button.
Okay, I had no idea how many subscriptions I was still subscribed to. In fact, I wasn't even using a quarter of the subscription services I was signed up for. Subscription boxes, streaming services, my old gym, and even an old subscription to my favorite magazine--it was all there and I was livid. How could I let myself waste all of this money and how did I never catch this? Thank goodness for Truebill.
Truebill also offers bill negotiations. There is a 40% fee based on how much you save and Truebill even claims that there is an 85% chance that they'll be able to lower your bill once a negotiation is requested. Why wouldn't I take them up on this? There was zero risk and I would only have to pay once my bill was lowered (which means that I would be saving money regardless).
More standard features of Truebill include the ability to generate a credit report on-demand and even request a pay advance. I only used the pay advance feature once when I wanted to buy a gift for my mom, but didn't have enough cash in hand and Truebill automatically reimbursed itself when I got my next paycheck.
The credit report is another fantastic feature and practically taught me what good credit meant. Truebill's credit report basically shows you which financial decisions have the most significant impact on your credit score and ways that you can improve your credit month-over-month. I've never had such control over my credit and it feels good.
I'll be the first to admit that I was extremely naive coming out of school. I figured that as long as I was attentive, I could manage my finances with ease. We manage money to some extent throughout our entire lives, but once you're thrown out on your own, it's a completely different story. With Truebill, I've finally been able to take control over my finances and stay on top of all of my responsibilities.
My buddies and I always try to make it out to a game, but we never really care which one we end up at. Obviously we have our favorite sports and teams, but it was rarely about what game we went to or who we saw playing. It was about watching the game live.
In the early months of lockdown, all we had was Korean baseball, and trust me, we loved it. The only issue was, none of us had any idea what the commentators were saying. Even then, a few of my friends weren't huge fans of baseball. They were into sports like football and basketball, ones that moved at a quicker pace with less down-time in between plays.
We decided to see if there were any other events going down and came across horse racing. Yes, horse racing. It was perfect--short, fast-paced, and most importantly, an opportunity for betting.
I had never really considered watching a horse race any time other than the Belmont Stakes, but the prospects of the sport seemed exhilarating. Even better, with horse racing we knew we could still recreate the atmosphere of a race track. Salty snacks? Check. Stale beer? Check. A simple and easy way to bet? Check.
One quick Google search later, we came across TVG, powered by FanDuel. It's an online betting platform that takes you right to the heart of the action. We were a little apprehensive about using a mobile app to place our bets, but TVG's ability to bet on live horse races from all over the world was too good to pass up.
Here are 5 reasons why we are obsessed with horse racing thanks to TVG:
1. Betting has never been easier
Use your phone or computer to watch and bet on live horse races in real-time. TVG offers a bunch of features to make betting even simpler--live odds and handicapping tips leverage recent learnings to help you make your best bet. Not to mention, TVG's exclusive race content and wagering guide offers an under-the-hood look into the strategy behind horse race betting.
2. The biggest selection of horse races out there
If you're looking to drop a little dough on a horse race, chances are your best option is your local race track. But watching the same few horses races over and over again isn't the most exciting thing. With TVG you have access to over 150 tracks worldwide with races happening consistently throughout the day.
3. Get a generous sign-up offer when you place your first bet
Once you register your account, you will be eligible for a $200 risk-free bet. All you have to do is place your first bet and you're covered. If you happen to lose, TVG will insure you for up to $200 as a sort of wagering credit. I may have been a little trigger happy when placing my first bet, so having this insurance was a great perk. There are also a bunch of promotional offers available year-round.
4. Making deposits and cashing out at the touch of button
With a ton of payment options such as PayPal, BetCash, debit/credit, wire transfers, and other third-party services, making a deposit is a breeze. But what about the payout? Depending on your deposit method, your withdrawal will be available in a few days. No more waiting in-line to collect your winnings!
5. Watching live races with your friends while betting is exhilarating
Even when we were watching Korean baseball, Zoom calls with my friends were a little dull.
With TVG, we haven't had this sort of fun in months! Every weekend we'll turn on a race and throw our bets in. After a few races, and quite a few drinks, we'll tally up our winnings to see who won the most! Sometimes it's not even about making money, but just having a good time.
TVG is the perfect way to add a little excitement to an otherwise mundane afternoon. It introduced me to the world of horse racing, a sport I never would have considered otherwise.
The races just keep ramping up and thanks to TVG, I can always get in on the fun.