@huntersrace
Office fashion can be a little confusing in the modern age. The business world is changing and a lot of industries are redefining their office culture. A new era of much more casual atmospheres is changing the way business is being done, but office attire is changing with it. The uniform is changing. Here's how it's changing and why.
It shouldn't come as much of a surprise that with more casual workplaces comes more casual office attire. The days of wearing stiff suits 9-5 is changing for a lot of businesses. This generation is dressing for comfort much more than anyone before them. Sneakers that are both stylish and comfortable are taking over for the formal shoe. There's more stretch to clothing than ever before, so while clothing might not be necessarily tighter it is more flexible.
Even color is being revamped and the traditional grey, blue, black, white, and tan are making room for new colors. Men are choosing trendier colored suits that don't stick to the traditional color scheme. Women are embracing the same trend, with colorful pantsuits which can vary in cut, style, and color with endless possibilities.
Personality is being expressed more than ever before. This can be a little tough for women because the man wearing jeans and a grey t-shirt is being perceived differently than his female co-worker in matching attire. Women suffer more dress-code stress and while it might seem like there are more options and more flexibility that often is a double edged sword. Women's looks and attire is judged much harsher than men and it can be expensive to keep up appearances while keeping the focus off your wardrobe and on your work. This is where women have to be careful.
So why is this happening? Well, a big part of the change is being fueled by Silicon Valley. The technology industry is young, hip, and exciting and taking over the world. Companies are taking note and beginning to try and mimic that aesthetic hoping it will bring the same cultural changes. Also it's just a reflection of our relaxation of the concept of 'social decency'. We aren't holding men and women to the same social restrictions of the past. If you look at other times of upheaval that were relaxations from previous norms you can note fashion shifts. Women were fighting for suffrage and the corset, both a literal physical and a figurative symbol of restriction, was removed from their wardrobes. The second wave of feminism saw the rise of women wearing pants. Social change is reflected in clothing.
So what does this shift mean for the business world? Honestly, it depends on the industry. Younger industries will reflect these changes much more than industries where formality is the law of the land. It also means, the casual atmosphere will most likely spread and offices are going to be more casual in the future. These trends of more active comfortable clothing isn't going anywhere. Clothing is going to get more personalized as people step away from the general notion of a uniform and instead embrace their unique style. It's about personal branding and expression, not fitting in.
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.
