Knowing More About The Growth And Stability Of Retail Jobs

Today, the fashion retail industry is growing and proving to be a very stable business sector. One of the benefits of pursuing a career in retail fashion is the breadth and diversity of available opportunities. For example, if you are good at dealing with people, there are plenty of fashion jobs that you can try pursuing. There are plenty of positions available in this industry ranging from marketing positions to merchandising and management.

If your inclinations lie in designing, there are plenty of fashion design jobs you can try as well. Other opportunities include those related to buying, marketing, finance, and supply change. Indeed, retail is a growth sector these days. Unlike other industries which are confined to a particular location, retail shops are strategically located in various places in the area.

Even with the increased prominence of online shopping, retail continues to grow, keeping pace with the demand of consumers and tourists. The retail sector is one of the sturdiest and more robust sectors. In fact, during the economic crisis, many retailers increased their workforce.

In terms of stability, very few industries can match the retail sector. When you talk of scope and variety, very few industries can match fashion retail. Whatever your level of experience may be, you are assured of finding a position that matches your interest, skill, and experience.

You can certainly find work in areas like marketing, finance, human resources, buying, and visual merchandising.

Retail also has a low barrier of entry, with many companies willing to take employees with limited experience for some positions. On top of that, it is fairly common in the industry to see people work their way to the top. Retail employees also enjoy a few perks that can leave employees in other sectors green with envy. These include big discounts on store merchandise.

The great thing about this industry is that many retailers provide employees with training programs as well as a fast career progression. Although many retailers accept graduates from different backgrounds, you will have a better chance of landing a retail job if your educational background is related to business, management or economics. It also helps if you are highly skilled in relationship management and customer service. This can be your edge to land the job you want.

For those who want a long-term job in retail, they should take the time to determine the specific role or career direction that they want to pursue. It is also a good idea to brush up on their knowledge of the business side. Indeed, retail jobs are growing and are still proving to be stable as ever.

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Guiding New Graduates to Financial Success

New college graduates are on the loose and out building their new work wardrobes for their first job. Are you a proud parent and grandparent? In addition to celebrating with them over parties and gifts, now is the time to give them the gift of financial independence too. As they start their first jobs, you might ask yourself, “Is my child prepared for the financial responsibility that comes with a full-time job and living on their own?” Right from the start, you want them to develop savings priorities and healthy spending habits. Here are some tips to help you point them in the right direction:

Explain the importance of saving

As young adults start receiving a paycheck, they may find it tempting to spend their funds a lot more on “wants” rather than “needs.” You can help by reminding them of the difference between the two and sharing the importance of saving. Whether it’s saving for unexpected expenses and emergencies or to eventually buy a car or home, encourage your young adult to put a set amount aside from every paycheck. You may also tell them to check with their employer and see if they can direct the savings portion of their paycheck directly into a savings account with only the remainder going to their checking account for spending.

Emphasize retirement contributions

New graduates hardly think about retirement. They’ve just entered the workforce – why would they need to think about an event that will impact them 40+ years from now? With rent, bills and other responsibilities, your young adult may choose not to contribute to their retirement right out of school. We all know that this is a mistake! This is your chance to emphasize how a long retirement time horizon can benefit them financially. Educate them about compounding growth in savings and encourage them to speak to their employer about any professional guidance offered. Emphasize to them that they have one of the greatest assets working for them at this age: time.

Teach them to follow a budget

Budgeting allows young adults to create a spending plan with their money. It’s a great way for them to track their expenses and see if they have enough to spend on the things they really enjoy. Budgeting can keep your young adult focused on their money goals and avoid any unnecessary financial hassle. If they become overwhelmed, share how you learned to live within your paycheck and show them that there are apps and online tools today that they can use – here are just a few examples.

Show them how to pay bills on time

As an independent adult, your child will need to take on lots of responsibility quickly. Perhaps this includes regularly paying a variety of bills (rent, cell phone, etc.). Keeping track of when bills are due can become cumbersome for those just starting out. Show your child that it’s crucial to stay on top of bills and pay them on time. Late payments and fees – and any outstanding interest on balances – will deplete their disposable income, leaving them less money to spend on entertainment and fun. Many apps and computer programs exist to help set reminders and automatic payments. Help your young adult look at the options and share any systems you use to manage monthly payments.

Help them build credit

Many college grads have not yet had a chance to establish a credit history. Educate them about how a credit score can impact their future. A good credit score can influence their ability to get car loans and mortgages approved. Their credit score can also impact the interest rates on these loans: A good credit score may lead to lower interest rates. Some employers use a credit check in their hiring process. Some insurance companies also use credit scores as part of their underwriting process as a person’s credit can be a predictor of insurance claims. To help your young adult build their credit score, encourage them to pay bills on time, avoid acquiring too much debt on any open credit cards, limit the number of credit cards used, and keep their oldest credit card open.

Now that your graduate is officially launched, use some of your time together to pass on good financial habits. Whether it’s dedicating a portion of every paycheck to savings or using an app to track spending, these tips may help your young adult to stay on top of their finances and develop good money habits that can last a lifetime.

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