Archive for July, 2015

Financial independence and planning are fundamental skills necessary for success in life. Achieving a sound financial profile is much easier said than done, however, and it is affected by our daily decisions.

Financial security is a huge responsibility as ill financial decisions can lead to problems that linger. If you try to borrow money from a financial institution, you will most likely be asked to share this information. Due to this, it is good to stay on top of your finances, even if it’s just a piggy bank. This way you will know if you can afford to stop by Eskimo Queen after dinner.

Assessing your net worth is a good practice to help with financial independence and planning. It is one of the first steps to setting financial goals and making a realistic budget. Someone wise once said, failing to plan is planning to fail and I believe this is especially true in matters dealing with money.

Net worth measures all of your assets (such as cash on hand and property owned) versus all of your liabilities (debt). So the first step in accessing your net worth involves making a list of your assets and liabilities. Once you have done this, you subtract all the liabilities from the assets and come up with a number. This number represents your net worth. This number can be greater than (positive net worth) or less than zero (negative net worth).

We all fall on different points of the net worth spectrum, but our overall goal is to make progress in the positive direction.

Consider the following young Plain City couple: The Bigelows.

The Bigelows have a home valued at $100,000, cash savings of $10,000, and two cars valued at $20,000. They have $75,000 dollars left on their mortgage. They owe $10,000 on one car, but the other car is paid off. Both are recent graduates of The Ohio State University and they have $50,000 in education loans. With this information we can calculate their net worth:

Assets:            $100,000 (Home) + $10,000 (Cash) + $20,000 (Cars) = $130,000

Liabilities:       $75,000 (Mortgage) + $10,000 (Auto) + $50,000 (School) = $135,000

Net Worth: $130,000 (Assets) – $135,000 (Liabilities) = – $5,000

Based on the above information, the Bigelows have a “negative” net worth of $5,000. But after a few years of hard work and patience, they reassess. They have managed to put an additional $10,000 in their savings ($20,000 total). Their mortgage is now $50,000 and they have paid $30,000 towards school loans (total owed is now $20,000). The car has been paid off. So now their net worth is:

Assets:            $100,000 (Home) + $20,000 (Total Cash) + $20,000 (Cars) = $140,000

Liabilities:       $50,000 (Mortgage) + $0 (Auto) + $20,000 (Education) = $70,000

Net Worth: $140,000 – $70,000 = $70,000

Now the couple has a “positive” net worth of $70,000 between the two of them. Make note that they have made progress in the positive direction, which is a sign of healthy finances.

Your net worth should be updated periodically, along with budgets and debts. Use it in coordination with your budget to make sound financial decisions. If the Bigelows want to have a baby, being aware of their finances will put them in a position to properly plan for the new arrival. It also helps when unexpected expenses pop up like car repairs or hospital visits.

How often you should reassess net worth depends on your particular situation and goals. There is an Excel template attached to help get you started. There are various websites that can help, as well. A good one to start with is:  www.mint.com.

If anyone has any questions or comments about net worth, medications, or the pharmacy profession, please drop in and ask. And, as always, GO BUCKS!

References:

Know Your Net Worth. Financial Industry Regulatory Authority website. www.finra.org/investors. Accessed July 5, 2015

Click below to bring up the Net Worth Template, which will look like the photo below when you access it. You will need Excel to use it.

Net Worth Template

Plain City’s Music in the Park continues with this wonderful Free concert featuring the Chapel Brass, The Salvation Army’s premier brass ensemble, on Sunday, July 26 at 7 pm.

Bring a lawn chair or blanket and meet in the Gazebo area of the park. You can make a voluntary donation to the Plain City Music in the Park program at intermission.

For more information and the entire summer concert schedule, go to: www.pastime-music.com

The next music performance will take place on Sunday, August 9 at 7 pm, and will feature the Emerald City Swing Orchestra.

Here is a listing of the schedule for the rest of August and September:

August 16, Sunday, 7 pm, Shrine Big Band Jazz.

August 30, Sunday, 7 pm, Plain City Community Band.

September 27, Sunday, 7 pm, Shrine Concert Band.

October 4, Sunday, 7 pm, Rain date for performances cancelled previously due to the weather.

For more information, call Frank Reed, 614-561-7311 or email FrankReed@pastime-music.com.

We all know that one way to look cool during the hot summer months is by buying a new pair of sunglasses and hitting the beach or our favorite summer destinations. But did you know that sunglasses not only make you look good and keep you from squinting, they also protect your delicate eyes?

The sun’s rays are dangerous to our eyes and can cause retinal damage and blindness. Fear not though, we have ways of decreasing that damage.

The sun puts out many different type of rays. The most dangerous of these are the UV or ultraviolet rays. There are three types of UV rays that we should be worried about: UVA, UVB, and UVC.

UVC rays are the highest in energy and the most dangerous. Fortunately for us, the ozone layer tends to block almost 100% of all UVC rays.

UVB is the second highest in energy. These are the rays that are most responsible for that bronze look we all search for during the summer months here in Ohio. However, they are also responsible for the painful burn that we get if we forget to use sunscreen or stay out too long during times of increased exposure (10am to 2pm). These rays are also responsible for damage to the eye, but are absorbed in the cornea. These are the rays responsible for snow blindness.

UVA is the lowest in energy, but is most likely to pass through the lens and cause the most retinal damage. They may be responsible for certain types of cataracts and macular degeneration.

There is also another kind of radiation that can cause retinal damage. It is HEV (High Energy Visible) radiation, also known as “blue light”. These rays are not quite as high in energy as the UV rays, but they still penetrate into the eye and can cause damage.

Fortunately for those of us who love the sunshine, we have a solution. Sunglasses that block or absorb 100% of the UV light can decrease the risk of eye damage drastically. The best way to find out if your sunglasses are the right type to block harmful rays is to take them to your eye doctor who is very knowledgeable on the subject matter and has ways of testing whether or not the glasses block 100% of the UV light.

Another interesting fact about sunglasses is that color and tint of the lenses do not matter when it comes to blocking UV light. Blocking the blue light is a different story, however. Lenses that are bronze, copper, or reddish-brown in color are much better at blocking this type of light.

Children may be at greater risk than adults when it comes to eye damage. Children usually spend more time outside than adults do and their lenses are much clearer allowing for more light penetration into the eye. Make sure that your children are wearing the proper sunglasses and/or a hat when spending long periods of time outside.

Another misconception about UV light is that it can only cause damage on a sunny day. Cloudy or overcast weather does not block the sun’s UV rays. Even on cloudy days, your eyes are just as vulnerable to damage.

With all of that being said, get yourself (and your children) a nice pair(s) of sunglasses and go out and enjoy the weather. Knowing how to protect yourself from the sun’s harmful rays will be very beneficial for your eye health in the long run. You also have an excuse to look good even on cloudy days. When your friends ask, “Why are you wearing sunglasses? It’s not even sunny out,” you can respond by saying, “I am only trying to protect my eyes,” even though, you just want to look good.

Stay cool and look cool, my friends.

References:

http://www.allaboutvision.com/sunglasses/spf.htm
https://www.macular.org/ultra-violet-and-blue-light

Take a look at the Lovejoy’s ad for July 20-26.

Lovejoy’s is now on Facebook! Take a minute and LIKE them by going HERE.

Lovejoy’s is also now open until 10 pm 7 days a week! WOW!

Check out the Homegrown Produce Sale this week. And consider having a Mexican Night for dinner with lots of great Old El Paso items on sale.

Also take a look at all of the delicious deli and bakery items on sale this week.

For more information on Lovejoy’s IGA, visit their web site HERE.

Remember, we hope you will shop locally and support locally owned businesses here in our community!

Click on each of the pages of the ad to enlarge them. When they show up on a separate page, click again to make the pages even bigger. You can also print them out and take them with you when you go shopping!

It’s summertime! It’s that time of year we can enjoy precious warmth and the great outdoors.

There are a lot of activities in and around Plain City that are organized for the community. Participating in these activities is beneficial in multiple ways. Not only is it good for the mind and body, but attendance will also contribute to the community’s success. There are all kinds of outdoor festivals, fairs, and shows that spread good vibes and help reduce stress.

Below I have listed a few different ideas that can help make the most of the long summer days. Whether you want to stick around Plain City or want to head down to Columbus, there are a multitude of options.

First, summertime brings us the county and state fairs that we have grown to love. With all kinds of entertainment from rodeo events to arts and crafts, there is fun for everyone in the family.

Warm weather and sunshine also bring us festival season. There is a long list of festivals taking place from the Jazz and Rib Fest to the Columbus Food Truck Festival and everything in between.

There are also plenty of places that offer free music performances and movies. It’s delightful to be in good company with good music and movies playing, especially when it doesn’t empty your pockets.

Plain City Events

Columbus Events

Please visit the corresponding website by clicking on “website” for each event to find out more information.

If you are looking for low key or more private activities, there are other options available. Hiking a local trail, watching a serene sunrise/sunset, and stargazing are also great options that are enjoyable in the summer months. Stargazing is a great option for residents in Plain City, because there is not as much light pollution as compared to Columbus.

Make sure to be proactive about safety. Wear a hat, sunglasses, and sunscreen to protect against some of the harmful effects of sunlight (Refer to the June sunscreen blog for more info).

If hiking, cover up! Keeping the skin covered helps protect against bugs bites, poison ivy, and unforgiving thorns.

Considering the weather lately, it might also be wise to have an umbrella or a poncho close by.

Keep hand sanitizer and sanitary wipes always handy for a quick clean up. Wash your hands with soap and water thoroughly after outdoor activities.

Additionally, be sure to drink lots and lots of water when out.

If you are with a large group of people, do a regular head count and have a meeting spot set for children in case they wander off, as kiddos are prone to do.

Last tip–do not forget to take pictures! You will be happy you did when you want to recall good times. Nowadays, it is so easy to just whip out your phone and snap a quality picture.