Tag Archive | Finance

Personal Finance Tips to Help You Accrue Wealth

While your bank account might be a far cry from Bill Gates’, that doesn’t mean you can’t take action to build your personal wealth. By adopting the practices below you can learn how to build upon your existing funds, how to expand them, and what to do in the future to ensure your financial stability. Attaining and maintaining wealth stems from smart financial habits. The sooner you implement them, the sooner you can reap the benefits. 

Create Motivating Goals

Nothing motivates quite like a goal that gets you excited for the future. Create the type of goals that are not only attainable but make you want to strive to achieve them. Write down a list of both short-term and long-term goals you can take steps towards achieving each day or week. You’ll have a clear direction of where you stand and where you’re headed. 

Utilize a Plan for Spending and Saving

Budgeting is one of the simplest things you can do to gain wealth, but it is often overlooked. Use an app, make a spreadsheet, or write in a journal, but make sure you’re keeping track of every purchase and every income source. You won’t be able to fully take advantage of the opportunities available to you unless you have a clear grasp of your finances before you start to invest and grow.

Reduce Spending & Generate New Income

To maximize your profit potential, find ways to reduce your spending. No matter how small your cutbacks may be, they will make an impact. Create realistic goals on how to cut back and make headway each day towards that goal. Once you’ve made the necessary cuts, find ways to generate new income streams. Acquire a rental property, use your home as an Airbnb, create an online store, or invest in entities that can provide passive income. By having multiple revenue streams you can still keep a stable income even if one goes through a less than ideal period. 

Invest to Create Passive Income

Want to make money without doing hours of work each day? You need to invest and invest wisely. Find ways to invest some of your profits back into what is fueling your growth. Choose different avenues in which to invest your funds, such as stocks, bonds, IRAs, and more, to diversify your holdings. Don’t forget to add to your savings accounts each month to continue to earn interest and build upon your nest egg. 

Keep an Eye on the Market

A lack of awareness of how the stock market is doing can directly impact the success of your personal finances, especially if you have a lot invested. Changing interest rates can alter your long-term costs and market shifts could alter your passive income sources and require small to massive changes. Adopt a long-term mindset for the best chances of success. Take full control of the way you use your money so you can make necessary changes that spark new opportunities to grow your finances and wealth.

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The Oldest Business School in the U.S.: Wharton

There are over one hundred business schools in the United States. Each one ranked based on a number of factors, such as employment, salary, disciplines and alumni. Yet, another factor to consider is the history of the school. The reason why the school was formed should inspire a candidate, as the benefactor reached his goals and made strides in the business world. Names of great businessmen adorn the facades of business schools at universities across the United States, such as John L. Kellogg (Kellogg School of Management) and Walter A. Haas, Sr. (Haas School of Business). The business school with the richest history is the Wharton School of Business at the University of Pennsylvania.

The Wharton School of Business was established in 1881, which makes it the oldest business school in the United States. The school changed the philosophy of teaching business as a trade to a profession. It’s founder, Joseph Wharton, was a pioneer in the zinc and nickel metal industries in Pennsylvania in the mid-1800s. He used his business acumen to co-found the Pennsylvania and Lehigh Zinc Company (later the Bethlehem Steel Company), which was the first successful producer of zinc metal. He also funded the Gap Mine in Lancaster (PA). Wharton believed that businessmen should be “pillars of society” and are obligated to “advance society as a whole, creating new wealth and economic opportunity for all people.” Thus, he founded the Wharton School of Business. As the school grew in size, so did the business disciplines, including business law, finance, insurance and marketing. It is known for many “firsts,” such as a business school research center (Industrial Research Unit), a custom executive program (Securities Industry Institute), an MBA program in Health Care Management and the LEAD program. And there are PhD programs for each business discipline!

As part of his mission to create opportunities for all, he also founded Swarthmore College in Swarthmore, Pennsylvania and the Wharton Fellowship (the first of many fellowships), in which W.E.B. DuBois was a recipient in 1896. W.E.B. DuBois went on to co-found the NCAA. Other notable alumni include Warren Buffet, Elon Musk, Ruth Porat and Ben Lerer. Those who attend Wharton appreciate the school’s history and legacy, including the mission of giving back to the community. When it comes to researching business schools, the school’s history should be included in your criteria.

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Business School Trends for 2019

If you are interested in getting your MBA, there have been many changes to business schools and their programs in the past five years (i.e. online MBAs). It is beneficial to not only get as much information as you can on the programs that meet your criteria, but also on the business (and international business) landscape. Here are some business school trends you can expect for this year.

  1. Specialized MBAs — There will be new areas of specialization for MBAs, including entrepreneurship, luxury management and analytics. Also, since there are more startups popping up in Europe and Asia, there will be a focus on studying in these areas, particularly in India.
  2. Growth in Europe — Due to Brexit, there will be additional growth in Europe. Students with global interests should look into studying in the United Kingdom because Brexit will position this region to support new business opportunities (i.e. startups).
  3. A Decline in US Applications — There is a decreasing number of applications in the United States, especially international students, because of the ongoing immigration issue. Also, the United States economy is strong, which is keeping potential applicants at their jobs as well as providing opportunities at work. Lastly, the price of an MBA is off-putting to many, and financial aid is very low.
  4. An Increase MBA Hires — Experts predict more corporate acquisitions and mergers due to current low corporate tax rates. This means corporations will have more money to reinvest, pay out bonuses, invest in other companies … etc. Thus, the market will be ripe for MBA graduates to meet the needs of banks and private equity firms.
  5. Educational Technology — There are online MBA programs, which deliver MBA courses and materials to meet students’ hectic schedules. But, there is new technology for the MBA classroom, specifically gamification. Gamification gives students a real-world perspective of owning a business via a business simulation. Students play roles in running a business, which increases learning and engagement.
  6. Amazon’s Hiring of MBAs — Since Amazon stock has dropped, this does not bode well for MBAs. The reason: Amazon is the single largest employer of MBAs according to Poets & Quants. The Trump Administration is pursuing antitrust charges against Amazon. This could be disruptive to Amazon’s hiring of MBAs, and can even affect employees at the e-commerce giant.  

It is important to be aware of these trends, but they should not deter you from your MBA goal.

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Websites Where You Can Make a Great Online Resume


Everyone knows how important it is to create a great resume to send to prospective employers, but not everyone has one available for access online. Even before you start looking for a new position, it’s an excellent idea to create an online resume so that great companies can find you before you ever need to find them.



This website allows you to create an online resume based on the information on your LinkedIn profile or choose to create one from information you input it yourself. This resume is easily found on Google and is therefore easily accessible to future employers. This site is great if you’d like to create a professional-looking resume on an online format.



Resumonk allows you to create an online resume that you can easily promote and that is also completely customizable. With just the basic profile you have the option of choosing from a variety of different designs and customizing the text you use for your headings and information. With the premium account, you have the option to create multiple resumes on the site, the option to export your site to PDF file, and the ability to create cover letters. Resumonk, like Visualcv, rank well on Google and therefore, have the ability to be seen easily by future employers.



Previously called Branded.me, Remote.com is different than other online resume builders. Unlike other online resume generator, Remote.com, is an interface where you can share your resume with your other professionals that you’re already connected with on LinkedIn. When you sign up, you have the option to include your LinkedIn profile information that sends your LinkedIn connections to Remote.com. From there, you can choose to connect with the ones that are currently on Remote.com and continue to interact with them on this site. According to their website, over 2 million people currently use. You can also use this website to find jobs and apply for them. Once created, your resume acts like a website and is easily navigable and looks very professional.


Whichever website you choose from, all of these online resume builders are great options to keep your education and employment information current for employers that may come across your information online.


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How Internet Has Changed Business: Connectivity With Clients

In this series, I’ll be delving into each of the 4 main ways the internet has changed the business industry. This month, I will be focusing on how the internet has allowed companies to directly connect with their customers in a meaningful way. If you were working in an office before the internet, you know the differences beLoveCustomerstween now and then are staggering.

Before the internet was a major part of our everyday lives, the main way customers would connect with the business would be when they physically went to the brick and mortar store or spoke to a customer service representative over the phone. While both the actual store and phone service still have an important place in today’s business world, they are not the only means of communication. People can now traffic the company website, and may order online as opposed to coming into the store. In fact, a recent poll taken showed that nearly one third of all consumers shop online at least once a week. There is less of reason to have an actual store nowadays because customers so regularly order offline.

Email has allowed employees to easily communicate with clients, quick questions can be answered via email within a couple hours or, at the most, a couple days. Instead of waiting to schedule a phone call and align the schedules of both parties, email allows questions and answers to flow freely everyday, increasing productivity and allowing for better communication.

Have you ever signed up to receive promotions from a store on your email? Companies can reach out to new and existing customers with coupons and sale notifications in their email every time they want a sale to be known. While these sometimes are overlooked in a customer’s inbox, these are still great ways for a company to stay relevant to a customer.

A relatively new form of communication with clients is geolocation or location-based marketing, that takes advantage of the consumer’s smartphone. Also known as geofencing, geolocation targets customers by their location, offering sales and alerts when they are in close proximity to a store.If the customer is sharing their location with their network, a company is potentially able to market to that person, and a whopping 72% of customers will react to the promotional information. This form of communication will take me to my next way that internet has changed business – marketing.

Visit my page next month, when I’ll describe how the internet has vastly changed the marketing industry. Feel free to check out my presentation with all 4 ways on my slideshare account.

from Sabah Mikha’s Latest Blog PostSabah Mikha http://sabahmikhajr.com/how-internet-has-changed-business-connectivity-with-clients/

How to Study for the GMATs


When it comes to studying for the GMAT exam, there are no magic formulas, no secrets, no tricks—just planning, preparation, and consistency. Every month, thousands of people around the world have accepted their fate to take this standardized adaptive exam in hopes to walk out with a competitive score of 700 or above. Because of its return on investment, it is imperative that you understand how to effectively prepare and study for this test.

When studying for the GMATs, you must first and foremost understand that this preparation will require an overall commitment on your time, and possibly your money. Because of this, try and block off three to four months with 15 to 20 hours of studying per week before your scheduled test date. This will allow you to learn the necessary skills and foundation for the exam so that you can effectively perform on test day.

As for the exam, it is important you understand the type of problems you will see on the test. While there are only two sections, quantitative and verbal, these sections will cover five types of questions:

  • Problem solving
  • Data Sufficiency
  • Sentence Correction
  • Critical Reasoning
  • Reading Comprehension

Within those specific sections, they will have their own sub questions tailored towards the difficulty and complexity of the exam. Now to succeed on the GMATs, it is immensely helpful to recognize the questions not merely as vehicles for assessment, but as the assessment themselves. Learning the strengths, weaknesses, flaws, and tricks of each individual questing will allow you to gain a stronger arsenal come test day.

To help you with this, I would highly advise you consider taking a GMAT prep class such as Veritas or Manhattan GMAT. These prep classes will help you understand your own skill and ability level, what areas you are good at, what areas you still need to master, how to work and perfect your timing, and how to analyzing your exam. Be mindful that those who do better on the GMAT exam tend to spend more time studying for it, on average. But there is no cause–and-effect process at work here. Studying 107 hours does not guarantee that you will score in the 600 range. Instead, understand and internalize the problems. Even if you get them write, look back at the strategies and begin incorporating new methods such as plugging in answers, backwards solving, etc. into your tool box.

Good luck and happy studying.

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Personal Finance Tips for Millennials


We cannot predict the future. Life, as many have stated time-and-time again, just happens. In fact, if we could go back in time, we would certainly do things different. For many college students, they do not necessarily comprehend the sever ramifications that student loans, credit card debt, and other necessary obligatory expenses such as rent, car payments, and even living and social expenses have on your savings. But it is not too late. While you cannot turn back the clock, you want to make sure you establish a strong holistic understanding and financial strategy to gradually build your savings and investments into large sums.

Keep in mind, the ability to save is a process. Accumulating a strong financially healthy wealth does take time. While it may not be able to see the immediate results within just a short period of time, you want to make sure you do your due diligence and establish that plan so that you can reach your financial goals.

Below, I have provided five financial tips that every millennial must take advantage of. These helpful tips will establish that necessary path and secure your future for the better.

  1. Establish your Financial Goals

It is important to think long term when it comes to saving your money. As much as you want to enjoy it, you cannot be too frivolous and careless with your cash. To do this, it is absolutely imperative that you plan with a goal in mind. Like anything in life, you want to make sure there is some type of positive end result. Similar to that, with your financial situation, you want to backwards plan and establish short term and long term goals in order to build a strong and viable financial plan. By having these goals in mind, you will be able to anticipate for any future cost and set tangible and logistical objectives of what you can and cannot spend at a given month. Certain goals can be the following: housing, car purchases, big financial purchases, vacations, educational cost (graduate school), or even retirement.

  1. Begin retirement planning immediately.

The biggest mistake many millennials make is that they do not take advantage of the benefits of their first job. Some come in with the mentality that this position is short-term and temporary. Others believe in waiting until they are officially settled. While it is important to feel secure, you want to make sure you leverage those financial packages to your fullest. In addition, do not be frivolous with your paychecks. Getting your first paycheck can be exciting. But it does not give you the right to spend it on any and all desires. Instead, think of your financial future. Start building your wealth so that you can be financially stable in the long run.

  1. Build Up an Emergency Fund

As a young professional, you will accrue many expenses in your life. Within three months, you have enough understanding of your net income, expenses, and savings. While it may be difficult, make sure you establish an emergency fund for those worse case scenarios. At the end of the day, we cannot predict the future. Because of that, you want to make sure you are prepared for any and all hiccups life will throw at you. To do this effectively, create an emergency fund that covers at least six months of living expenses. This sum can be used for a variety of situations such as job loss, career transitioning, car expenses, medical expenses, etc. Remember, it is all about putting your mind at risk. The worst thing you can do for your future is by finding yourself in a situation where you are unable to pay the bills. The emotional time and financial burden can absolutely be alleviated if you have this plan in place.

  1. Stay Consistent with your Savings

This is probably one of the most important steps you should understand. It is also the most difficult. As a millennial, the world is at your fingertips, you will have a vast amount of opportunities to travel and buy all the things you want. But as great as those external factors may be, they are, in it of themselves, incredibly costly. When it comes to your personal savings, you want to make sure you are staying consistent. Consistency will be the key factor in where you will financially stand in the future. Remember this, material items won’t be able to pay your student loans. Be smart about your money and stay consistent.

  1. Create a Plan

When it comes to personal finance, you want to make sure there is a plan in place. To help you with this, try establishing the ‘50-30-20’ rule where 50% of your revenue goes to any external expenses, 30% goes to your savings and retirement plan, and 20% goes to your social expenses. By establishing a strategic plan for your money, you will be able to take control beyond the sea of bills and expenses and foster the groundwork need for your future.

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Alexa von Tobel and Personal Finance

TedTalks is a daily video podcast that provides the world’s leaders, thinkers, and game changers to discuss various topics such as science, business, global issues, the arts, and much more. In this TedTalks, Alexa von Tobel addresses the problems of personal finance  and how the of knowledge can hold many young professionals back from a long and fruitful future.

To begin, Alexa von Tobel examines the lack of responsibility and unawareness many young professionals and college graduates have with their personal finances. While there are a number of reasons why many of these individuals are not paying attention to their savings, Ms. Tobel highlights one of the most reoccurring factors she has heard from a variety of people, anxiety and stress. She begins her segment with short adaptation highlighting the ups-and-downs of her hypothetical friend and her struggle to financially budget her expenses. Through this quick five-minute story, Alexa was able to provide the audience with various real-life examples of certain external financial factors that can negatively impact anyone’s financial health stats if it is not taken under control. For millions of Americans all around the nation, especially millennials, this situation is a tragic reality.

But how can you control your expenses when you have college loans weighing you down? How can an entry level salary pay all of the necessary bills while also saving for your future retirement?

While of course the idea of assessing your financial health maybe intimidating, and often times confusing, gaining a general understanding of your financial savings will play a large role in how secure your future be later on down the road. To do this, Alexa highlights five money principles you should live by:

  1. Follow a budget. Live beneath your means.
  2. Be debt free. Pay cards in full.
  3. Have an emergency savings account.
  4. Negotiate a stronger salary.
  5. Save for your retirement immediately.

By grasping your personal finance through Alexa’s five principles, you will be able to take that much needed control of your expenses and plan effectively and strategically for your future. Yes, this will take time. But by examining your personal finances now, you will be able to maximize your chances in securing all of your wants and needs while also taking care of the necessities such as your bills, loans, expenses, and retirement savings account.

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Diversity within Business Schools


Almost always, the thinking of every prospective MBA applicant usually goes directly to the ranking of the school. As much as it is important to view the national ranking of every business school program, it is imperative that you evaluate your decision based your own personal and professional interest and goals.

When it comes the quality and reputation of your MBA program, you want to make sure the school is both accommodating and representative to your needs. Unlike other graduate school programs, MBA programs looks at a diverse pool of candidates. From age-to-age to background-to-background, every candidate, while representative of the standards and characteristics of the school, will display some sort of unique value to the program. And rightfully so. Any strong MBA program knows that diversity is a key component to the modern workplace. To go even further, successful businesses throughout a variety of different sectors have thrived on the idea of new and innovative perspectives.With business schools becoming one of the most international environments on both a national and global scale, it is important that future programs shape their applicant pool to replicate that high level of collaborative thinking.

In the grand scheme of things, the word ‘diversity’ has become a recent buzz word amongst business schools and professionals. Institutions have accepted the idea that diversity serves not only as a strategic differentiation between increasingly similar business school curricula, but its effect also creates a more robust academic and social experience for students. Traditionally, past MBA programs have been  dominated by early-to-mid twenty year old white males, a trend that has been highlighted for years. With the overwhelming amount of press on the inequality and injustice amongst the  education, wealth, and MBA opportunities certain candidates have received, women and minorities have made great strides within the past few years in bridging the gap that exist today. Currently, women and racial minorities have begun to shatter the glass ceiling at the highest echelons of corporate America. Their impact both in-and-out of the classroom has continued to create an organizational vision in leveraging diversity to achieve higher performance. But to continue this campaign, business schools need to provide more opportunities for women and minorities to learn and grow within the business and private sector.

One thing MBA programs should look to improve and develop are particular networking channels where prospective candidates can meet students, alumni, and other candidates from similar backgrounds. While there are already some pre-MBA programs dedicated to this cause such as Consortium and MLT, having an additional outlet for a college student or young professionals to access can do wonders in cultivating and fostering a stronger and more effective community. Yes, there are ‘coffee chats’ and MBA fairs. But the limitations, restrictions, and comfort level can oftentimes be intimidating. Providing this type of safe space where prospective candidates can ask overarching questions that is related to race, gender, or socio-economical background is something that will help benefit the overall MBA program and MBA community.

At the end of the day, many business schools, especially those within the top-ten, have done an incredible job increasing diversity within their campaigns. But if we are looking to truly make a strong and transformative change, many of these programs will need to provide stronger opportunities for both women and minority applicants and students.

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A Roadmap to Business School


Congratulations! After an extensive amount of research, you have decided that a Masters in Business Administration (MBA) is the most viable option to proliferate and diversify your professional career. While making the decision to go to business school is not an easy one, it is the first step on your journey in shaping your career trajectory.

Now that you have decided on attaining an MBA, it is absolutely imperative that you consolidate, prepare, and complete all of the necessary objectives for your business school application. For many of these highly selective programs, they are looking for a diverse group of talented students who can create and foster a stronger, enriching, and impactful learning environment within their programs. Because of this, you want to make sure you provide yourself an ample amount of time to prepare your application in the best possible way.

To aid you with this process, I have provided a strong roadmap in preparing your applications. This checklist will highlight the necessary objectives that you will need to know and complete in order to find the right school that can help shape your background, your learning style, and most importantly your professional goals.

Create a List of Schools

When applying to business school, you want to make sure you take into consideration your professional goals, the school’s ranking, the programs, and the location of your future school. While it is nice to have various options, having a list that is oftentimes too large can be incredibly detrimental to your process. At the end of the day, you want to make sure you are looking at schools and programs that you would like to attend. To help you with this process, start by thinking of your professional goals. Ask yourself what you are looking to major in and what locations you are willing to move to. In addition, limit yourself to ten schools that are broken up into these three categories: high-reach schools, middle-reach schools, and low-reach schools (safety schools). This will allow you to trim the fat and focus on tangible programs that you will apply in the future.

Take your GMATs

Like with any graduate school, MBA programs require you take the Graduate Management Admission Standardize Test, more commonly referred to as the GMATs. The GMATs is a three and a half hour standardize exam designed to predict how test takers will perform academically in said-MBA programs. While some schools will overlook a weak GPA from your undergraduate career, many admissions teams look at the GMATs as a universal placement in identifying the quality and strengths of a student. While this is not the silver bullet for an acceptance letter at Harvard Business School or Kellogg School of Management, it is the first step in whether or not you are a right fit for those elite programs.

On the GMATs, applicants will be required to finish four sections within the three and a half hours allotted to each test taker. The four sections are broken down into these categories:

  1. Writing Portion
  2. Integrated Reasoning
  3. Quantitative Section
  4. Verbal Section.

To help you with this process, try looking into various GMAT test-prep programs. Some of the more popular and successful programs are Veritas, Manhattan, and MaGoosh.

Begin your Applications

Once you have taken your GMATs or have taken various practice tests with a test-date in mind, start completing your applications. To do this, go on the school’s MBA site and click the ‘Apply’ section to get start. Much of the application will require general logistical information like your work experience, resume, home address, etc. Note you do not have to complete your application in one sitting. Instead, you can revisit the site again and again to make those much-needed changes in shaping your application in the best way possible.

One thing you should focus on is revamping your resume. Make sure you are able to highlight all of your personal and professional achievements and accolades. In addition, be sure to quantify your resume so that it is easily understood.

Essay Section

On your online application, there will be an section that will require you to write a number of essays. Make sure you stay on topic and are able to showcase your professional career in a more meaningful way that is relatable to said-school you are applying to. For many schools, the utilize these essays to not just learn more about your professional career, but to gauge how much you know about their school and their MBA program. Be sure to note those connections and of course revise, edit, and finalize your essays before submission.

Attain Professional References

When asking for a professional reference, make sure the person writing the reference can highlight a particular accomplishment or professional trait during your time with them. For example, if you want to showcase your leadership skills, ask your professional reference to discuss some instances where you were able to personify yourself as a leader within the workplace.

Prep for Interview

Similar to your research in the beginning, you want to make sure you are reviewing the school, the programs, and your own professional portfolio. To help with this, look online for various MBA interview questions that you can use to practice before the big day.

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