A Touching Farewell for iPod

Highlights

  • Apple is discontinuing the production of the iPod touch.
  • Apple first kicked off the portable music device in 2001.
  • The iPod touch will be available while supplies last.

The iPod’s introduction last 2001 took the market by storm. Since then, iPod has undergone several versions such as featuring a scroll wheel, increasing its capacity to 1,000 songs, and a 10-hour battery life. The version that has been selling until now is the iPod Touch, which was launched in 2007. 2007 is a special year for Apple as it was the same year iPhone was launched.

By 2011, Apple held a 70% global market share in MP3 players. About 400 million iPods have been sold to date. The power of music players was eclipsed by smartphones such as the rise of the iPhone.

Apple has announced that it is discontinuing the iPod, 21 years after the device became the face of portable music and kickstarted its company’s evolution. The announcement ends an era of digital music, which previously boasted up to “1,000 CD-quality songs into an ultra-portable, 6.5-ounce design that fits in your pocket.”

The iPod Touch is the only version still being sold and will be available until supplies last. Apple stopped selling the Nano and Shuffle in 2017. Experts predicted that the Touch would follow soon because of the prevalence of iPhones and other smartphones.

Interestingly, the later versions of iPod Touch resembled smartphones by including features such as taking photos, sending emails, and making video calls.

Image Credits: pixabay.com

Greg Joswiak, Apple’s senior vice-president of worldwide marketing said in a statement that the “spirit of iPod lives on”.

He added:

“Music has always been part of our core at Apple and bringing it to hundreds of millions of users in the way iPod did impact more than just the music industry – it also redefined how music is discovered, listened to and shared.”

Sources: 1 & 2

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What Can You Do When Your Parents Have Money Troubles?

Money is a sensitive topic for many families. Discussing the financial troubles of your parents can leave them in a vulnerable and fearful state, understandably so. Additionally, your parents may feel that their spending and saving decisions are theirs alone.

People are less transparent when it comes to their financial problems, and this makes things more complicated. Try to help your parents explore their options while maintaining your financial responsibilities to yourself and your family. Consider these tips.

#1: ASSESS THE SITUATION

Start by evaluating your parents’ current financial situation. Have an honest discussion with them about the issues that they are having or expecting. You can either help your parents in monetary or non-monetary support. The best approach will depend on where your parents are now and where they want to be in the future. Seeking professional help can help with the facilitation of the money conversations.

#2: HELP YOUR PARENTS DOWNSIZE

Whether your parents are living in a place that is no longer affordable or are planning to cut down on certain expenses, help them to downsize. Run the numbers on the possible housing options and determine how much they would save over time. The analysis should include their mortgage, moving costs, and other housing-related fees.

#3: ASK THEM TO MOVE IN

If your parents cannot afford to live independently anymore and you can take them in, you can consider asking them to move in. Assess their health and the other members of your household to determine whether they can live with you. Taking in your parents can have a significant impact on their finances as it will free them from rental payments and housing bills.

#4: CREATE THEIR REALISTIC BUDGET

Are your parents seeking ways to stretch their cash? Sit down together and draft a realistic budget that factors in their income and expenses every month. If their income is less than their expenses or if they are breaking even, look for areas where they can earn more or spend less. The goal is for them to live more comfortably.

#5: HELP WITH MAINTENANCE OR REPAIRS

Some financial needs are short-term. If your parents need help with home or car repairs, you can offer help for them occasionally.

#6: BOOST THEIR INCOME

Is your organization looking for part-timers? You can recommend it to your parents. Taking on a part-time job or working from home can help your parents bring in more money. Help strengthen their social ties and encourage them to try new things to achieve financial growth.

Image Credits: pixabay.com

Sources: 1 & 2

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5 Money Conversations to Have Before Getting Married

Getting married changes your financial life in significant ways. Not only are you opening your doors to someone or sharing your expenses, but you are also opening yourself to legal changes. While your credit score remains individualized, your future choices could be changed by what your spouse brings into the table.

#1: MONEY BELIEFS

Does your partner value money? You will get information about your partner by how they manage financial successes and setbacks.

Talking about your financial problems can reveal how you fix and learn from your mistakes. Hearing about your spouse’s successes can also reveal how he or she works toward achieving goals.

#2: FINANCIAL BACKGROUNDS

Many financial beliefs and habits are developed in childhood and carried over into adulthood. Hearing about your financial histories can pinpoint underlying patterns.

You can build a foundation of mutual understanding about your financial backgrounds as time passes. It is important to gain clarity on why the other does what they do with their money.

#3: JOINT ACCOUNTS

Should you combine bank accounts when getting married? Or shall you have separate accounts and income streams?

You can either split the bills and expenses or divide it based on each other’s income. Maintaining separate accounts can be possible while having a joint checking account to cover shared costs such as your monthly utility bills.

#4: FINANCIAL RESPONSIBILITIES

As a team, you need to work out how you will divide the financial responsibilities. If your partner is more analytical, he or she can research on retirement investing options. Set your roles regularly and give feedback.

Do not forget to check in before making major purchases and increase your communication when there is a change in cash flow.

#5: OTHER OBLIGATIONS

Do you have other financial obligations such as running a business or supporting your sibling? The whole picture of a person’s financial circumstance cannot always be captured by personal net worth.

Image Credits: pixabay.com

Thus, you must disclose and discuss other financial obligations you each may have. Remember – you are a team!

Sources: 1 & 2

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When is a Good Time to Switch Jobs?

Whether you admit it or not, we crave job security. Holding on to a job for several years is one way to attain this. However, there is less financial security in long-term employment.

You can get better by opening your doors to bigger opportunities. The longer you spend time locked up in any organization, the softer your muscles become. You can become complacent and comfortable.

When is it a suitable time to switch jobs?

#1: You became apathetic.

Feeling increasingly disconnected from your primary reasons for entering the field can affect your mental health. Notice if you are underperforming and skipping deadlines. What is going on?

If you cannot remember the last time you felt energized by a new project, it might be time to reassess your role.

#2: You do not feel like you are making an impact.

Your responsibilities and duties remain the same. Every day looks and feels identical. Therefore, you feel undervalued as you run on autopilot.

Image Credits: pixabay.com

It is time for you to find a new role that plays to your strengths and provides you opportunities to develop new ones.

#3: You dread going to the office.

If you dread going to work most days or feel anxious about interacting with the boss, you feel dissatisfied with your current roles.

It is time to think about other areas that will align with your passions. Search for new jobs in job portals such as LinkedIn.

#4: Your job is affecting your personal life.

Work should be challenging, but not crippling. If you are chronically exhausted and experience physical and mental tolls, it is your body’s way of telling you something is wrong.

Being stressed can affect your relationships with the people who matter the most. If your work is turning you unhappy and irritable, start to explore activities that will make you feel boosted again.

#5: You feel that your salary is not enough.

No matter how good the pay may be, you still feel that money is not enough. At some point, you will find yourself watching time pass by during meetings.

Image Credits: pixabay.com

Constant dissatisfaction and mindlessness can make you feel like you are wasting your potential. This is a clear sign that you need to embrace change!

Source: 1

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Best Financial Tips from Mothers

Mothers know best. We have heard this age-old saying before. Yet, how many of us are willing to admit that it is true?

It is normal to have little spats with our beloved mothers, some of us more than others. However, we would be lost without her unconditional love and support. In honor of Mother’s Day, here is a list of some of the best financial advice that several public figures received or gave as mothers themselves.

#1: NICKI MINAJ

Rapper, singer, and song writer Nicki Minaj gave birth last 2020. Her stellar career and experiences led her to value her worth. She once said: “One thing I learned along the way in business is the necessity for you to be unapologetic about asking for how much money you deserve.”

Image Credits: pixabay.com

Do not stop negotiating your pay once the company has absorbed you!

#2: JILLIAN MICHAELS

Jillian Michaels led contestants of the Biggest Loser to new heights with her expertise as a personal trainer. Both her parents always said:

“If you want to give someone money, then give it, but don’t give away anything you can’t afford to lose.”

Her parents imparted that she should never borrow or lend money to others. Lending money, especially to people closest to you, is a tricky situation due to the lack of a written contract. Sometimes, it is difficult to ask for the money that your friends or relatives owe you. Thus, be prepared to lose money on several occasions.

#3: DOUG LEBDA

LendingTree CEO Doug Lebda said that his mother “told me there was no free lunch. If I wanted to do all the things my friends were doing, I needed to pay for it myself – so go figure it out.”

Teaching your children responsibility at an early age can help prepare them for the future. As a mother, you can reward the household tasks which your child completes.

#4: ALEX RODRIGUEZ

Alex Rodriguez is well-known for his professional baseball career. He has since transitioned to being the Chairman and CEO of A-Rod Corporation. His mother thought him to be industrious and hardworking.

“There was no one in my life growing up more industrious than my mom. She worked two jobs – as a secretary during the day, and a waitress at night – to support me and my siblings and allow me to pursue my dreams.”

#5: PAMELA HABNER

Pamela Habner is the CEO of U.S. Branded Cards for Citi. Her mother’s most powerful financial advice was “to bet on myself and double down. Be an independent woman with the resources to take care of myself – no matter what.”

Image Credits: pixabay.com

It is important to invest in yourself and grow your knowledge. You do not need to be dependent on someone to succeed in life. Do things that excite you! My mother is a lifelong learner whose motivation comes from within.  She still takes webinars and furthers her education to this day. Whenever you do something that you are passionate about, you will never lose a reason to do what you must do.

Sources: 1 & 2

 

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