In this series we will be highlighting burgeoning entrepreneurs in the modern era. These are folks who have taken the risk of quitting or working double to quit their conventional jobs in pursuit of their passions. This is a difficult road that many never find the courage to venture upon, but the rewards are so worth it, and as you know, no risk, no reward, know risk, know reward.
This episode highlights Lee Cooks.The world is an oyster, variety is the spice of life, and Lee Cooks will spice your oysters to perfection. Life is about living on your terms and at your pace. Lee knows like a good meal, all things in life take their time and she's mastered patience and the art of living life artfully. Read to learn more, and make sure you take time to just stare out the window.
Do you remember your first day, What were you feeling?
My first gig I was 90 minutes late. All my food was done and heated by 12pm. I asked a friend of mine who had a minivan would he drop me off at Queens College Manhattan campus,I needed to be there by 3 to set up. I asked could he pick me up at, he said yes. Long story short, he didn't tell me till 1:45 that he couldn't pick me up, and it took me 30 minutes to get a cab that would go from the Bronx to lower Manhattan. I was so angry and obviously annoyed when I got to the college, which wasnt a good look. It was a huge learning experience for me, always have a back-up plan.
What Were You Doing Before? Why Made You Want To Try Something New?
I was doing customer service jobs. H&R Block, cold calls. I hated it, I hated having to deal with the customer directly. I'm an introvert/ extrovert, food was/is my passion. I decided to say Screw it and go to Culinary school. If I could get through school, Again, in my adult life. It was meant to be. I graduated, me and 4 others. From a class that started with 25 students.
How Do You Balance Your Time?
I have a lot of time now that I live in New Mexico.Taos specifically. Everything moves at a much slower pace, so I have time to do my leisure activities; as well as focus on my business. Gratefully a lot of the times they intertwine.
Tell Me About Your Business?
My business is me. Yes I cook, and have done catering, and pop-ups, but I indulge in more than just one art form. I sing, I make jewelry, I write, I throw parties. I use my talents to make money, grow my network,and be free. Leecooks Everything is literal in EVERY way. I'm cooking up a little of everything. I won't let myself or anyone else pidgeon hole me in a box.
How Much Time Per Week Would You Say You Dedicate To Your Work?
I'd say I put in about 4 to 5 days a week towards my business. I take time to just be.
What Else Do You Like To Do With Your Free Time?
I like to write, hang out with my circle, stare out the window and be in the moment.
What's Next For You?
I've been in New Mexico for the past six months, I'd like to live in another place outside the country for 8 to 9 months. Study their Cuisine. I'm thinking of Brazil being my next tour
Any Advice For People Wanting To Follow A Similar Path?
Have everything in writing.
Always know your worth, don't let anyone try to shortchange you. Don't let your talent go to waste, use it to uplift yourself and to encourage someone else. You never know how your of service to another human being. Someone is always watching
Want to learn more about Lee Cooks, book her to cater your next event? Hit her up and have some of the best food of your life!
Fb: Leecooks Taos
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.