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A clock on the side of a building with christmas decorations.

Making the most of your holiday break

The much-anticipated season of the holiday break is almost upon us. Yes, the treasured days of sleeping in until Russia is already waking up for the next day, watching enough TV to affect the national ratings, and eating enough colorful frosting to turn polished teeth into festive accessories. But Biz Kids know that the status quo is never the pathway to profits. So for this holiday break, we have a few suggestions for making the most out of this gift of free time.

1. Observe and Dream

Take a look around at the things you use everyday. What could you invent that would make your everyday activities easier, quicker, or more enjoyable? The phrase is old but true, “necessity is the mother of invention.”

2. Read!

Reading about the successes and failures of other innovators is a sure way to get inspired and learn from the lessons of others. Check out the top 10 bestsellers according to BusinessWeek, read blogs, and find magazines that inspire you. Curl up by the fireplace and escape into an entrepreneurial adventure!

3. Spend time with a mentor

Ideas bounced off of trusted mentors always have a way of becoming better. Find an older person you trust who shares your passion for business, and buy them a cup of coffee on a snowy day. Share your ideas, and then listen. Their knowledge and experiences will be valuable resources for you, and you’ll likely inspire them as well!

4. Rest and enjoy family time

Finally, your break is a time to get some much-needed rest and spend time with the ones you love. Your family will always be one of your best sources of ideas, encouragement, and support. Take this time to be with them, and include them in your ideas, plans, and dreams.

Your break is almost here! Let us know what brilliance you uncover this holiday break. Happy Holidays from all of us at Biz Kid$!

A woman laughing with a purple shirt and hoop earrings.

Biz Kid$ Host Lauren on Graduating!

Hey Biz Kid$!  Lauren here, writing from Washington, DC.  I just graduated from Howard University in May, and now I’m out here living on my own and looking for a job.  Transitioning from school to the “real world” can be tough, but if you plan ahead you can make it a smooth transition.  Luckily, I moved off campus my senior year, so I’m already used to paying my bills and buying my own food.  Unfortunately, I was employed by the school, so now I have to find a new job.

In these past few months, I’ve learned that knowing how to sell yourself is extremely important.  While I’ve been looking for a job, I’ve been able to keep myself afloat financially with my savings account and various odd jobs.  My major in school was Musical Theatre, so I did two shows this summer in DC, a few readings and a couple of small performances around town.  However, since I’m not in a union yet, I don’t make enough from these performances to make a living.  In order to make some extra money on the side, I applied to several promotional companies looking for Brand Ambassadors for various events.  A Brand Ambassador’s job is to promote whatever product or event that a particular company has hired you to work.  This could consist of handing out flyers and offering people information about the product/event, giving out free items or “premiums” to encourage people to use the product, or simply “being the brand” by wearing a company t-shirt and interacting with consumers.  Promotional jobs are a great side hustle, because you are notified of events in your area, and you apply to work the events based on your availability.  These jobs are very flexible and they pay well.

In applying for these jobs, employers often ask why they should hire you.  I’ve learned to play up my strengths in order to get the jobs.  I always include that I’m energetic, personable, and outgoing, and that I was a theatre major so I’m not shy and I know how to interact with people and meet their needs, and I have experience working with all types of people, because I’ve done various promotional events before.  So far, I’ve booked every promotional job I’ve applied for.

Although these promotional jobs are a great side hustle, they are not consistent and reliable, so it’s important to have a more regular, dependable job.  When trying to figure out where I wanted to apply to work, I thought of places that I enjoy being and would want to go to every day.  The first place thought of was the gym where I work out.  In the interview I played up the same qualities that I do for promotional companies, and it went great!  It also helps that I work out there so often, so they are familiar with my face and they won’t forget about me.  It has been difficult to find a time to interview with the owner, but every time I go in there I’ve been able to speak to the person I interviewed with, and she wants to bring me in as a work study student and transition me to an employee so I won’t have to pay for my membership.  By being persistent, and choosing a place to work that I’m familiar with, I’ve been able to potentially make money, and knock off a monthly expense in my budget.  When looking for a job, know what you want, know how to sell yourself, and make sure the employer doesn’t forget about you!

Newsletter: December, 2011
The Vault, December 2011: Choose unto others
People do a lot of buying and selling around the holidays. Some people think it’s a time to think about more important things than shopping; others are just looking for the best deal. In this issue of The Vault, we look at how your choices as a consumer can create costs and benefits for others.
Speaking of shopping, the BizKid$ Store is finally here!
From cool clothing to cash boxes…we’ll help you bank some bucks and show your biz savvy to the world. Just visit http://store.bizkids.com to get the goods!
Mobsters go green at https://bizkids.com/clip/mobsters-go-green
Econ 101: Beyond the price
A price is an agreement between a buyer and a seller that balances costs and benefits. But most purchases affect other people, too. So prices aren’t perfect. Economists call these effects “externalities.” They are costs paid for by people who don’t benefit from the original transaction. Those people don’t get the money you spent or a taste of the candy you buy. For example, the candy cane factory might create pollution that affects people who live nearby. Candy creates cavities, but candy makers don’t have to pay for dental care.
Video of the Month
Mobsters go green! Check out other clips from our show on the green economy here.
How green is your tree?
If Christmas trees are part of your family tradition, do you have a natural tree or an artificial one? Most people choose based on what they like best. If that evergreen aroma reminds you of the holidays, you’re likely to choose a natural tree. If you don’t like cleaning up needles or watering, you probably have a plastic tree.
Artificial trees are more expensive, but they are more convenient and can be reused. Natural trees are less expensive per tree, but you have to buy a new one every year. The price difference gives you useful information.But, your decision had a whoLook at the table to see a few examples.
We’re not trying to tell you what kind of tree to buy. The point is, if you base your choices on price alone, you’re ignoring your effects on others. By doing a little research, and by figuring out what’s important to you, you can make better decisions.
Many people choose not to think about it all and just do what they think benefits them the most. But during the holidays, it’s a good time to think about how our actions affect other people. Plus, you might be on the receiving end of an externality yourself!
Decisions, decisions
Here are some other holiday purchase decisions you might be making. How might each decision affect people who are neither the buyer nor the seller?
  • Buy at a local store or shop online?
  • Celebrate in your hometown or fly to visit relatives?
  • Purchase gifts or make them yourself?
  • Buy a paper book or an e-book?
  • Mail Christmas cards or put a Christmas greeting on Facebook?
  • Use traditional incandescent Christmas lights or buy new LED lights?

Biz Kids Bowling for Community Youth Activism

It’s happened again… We’ve found a group of Biz Kids making a difference in their community! The Seattle Young People’s Project will be featured on the upcoming season of Biz Kid$ in 2012, discussing the planning of a grassroots Bowl-a-Thon fundraiser called Blast from the Past: Classic Fashion through the decades. SYPP believes in empowering youth the change their communities, and we agree! Be sure to check out their profile coming soon to Biz Kid$ next year. To support their fundraising efforts, click here. Biz Kids, what is the most innovative fundraiser you have ever been a part of?

What Determines Your Car Insurance Rates?

What Determines Your Car Insurance Rates?

By Guest Blogger Murray Newlands

 

Credit reports are increasingly utilized by people across the country in determining their credit score. Times are tough and we’re all trying to save money in anyway that we can. But like death and taxes, car insurance is a must and often a costly must. But there are ways to save.

Driving safely is the obvious way to bring down insurance rates, but are you also paying attention to your credit report? Discover the lesser-known factors that can influence your car insurance rates, from marital status to the score on your credit report.

Credit Reports

Your credit report can be used by car insurance companies to use your credit history to drive up your insurance costs. Forty six allow car insurance companies to use your credit report to increase your rates. California, Massachusetts, Hawaii and Maryland are the states not allowing this method to be employed.

Driving History

Perhaps the most obvious, car insurance companies usually use your previous driving record to determine your new rate by using a point system. How long points remain on your driving record are determined by where you live and the actual infraction, but any tickets, accidents an parking violations always make your car insurances rates rise.

Age, Gender and Marital Status

Factors such as age, gender and marital status usually help determine your car insurance rates. New drivers are always viewed as higher risks when insuring and married women typically have the lowest rates, while unmarried men pay the highest car insurance rates.

Other Factors

Car insurance rates are also determined by the type of car you drive as well as annual mileage, anti-theft devices installed, your location and the deductible you’re willing to pay shall you need to file a claim. Although you may not have control of all factors that influence your car insurance rates, you can cut your cost by checking your credit history for accuracy. Don’t forget to check with your car insurance provider when it comes time to renew—improvements in your credit score or a decrease in how far you drive could mean you saving more money than ever before.

This is a guest post by Murray Newlands. Murray and his company Influence People do blog relations for CreditReport.com

Newsletter: November, 2011
The Vault, November 2011: So you wanna be a rock star?
From Guitar Hero to American Idol, rock stardom is something lots of people dream about (although according to our interview subject this month, it’s not all it’s cracked up to be). Even though you might not crack the top 40, technology makes it easier than ever to record music, find an audience, and even make money from it.
Photo of Chris Ballew by Brian Kasnyik
Interview of the Month: Chris Ballew
(Photo by Bryan Kasnyik)
This month, The Vault interviewed Chris Ballew, leader of multi-platinum rockers The Presidents of the United States of America and known to the under-five set as Caspar Babypants. We talked about how important it is to put the “music” part of the music business first.
The Vault: You’ve seen the music business from many angles…from busker to rock star to performing music for little kids. What’s your advice to kids who are interested in pursuing music as an occupation?
Chris: Adjust your notions of success to be attainable within your sphere of influence. Early on in my career, I adjusted my idea of success to be the following: write songs, play songs, record songs, and hand out recordings. I could actually do all those things on my own. I felt completely successful, because I was attaining my goals. So, I was relaxed and free and able to be creative.
The Vault: How has technology changed your ability to make a living with your music?
Chris: I’m a thousand percent empowered by technology. With Caspar Babypants, I am in total control of my business in a way that is super relaxing. There are new ways to make money as a musician, and it’s fantastic. But the best way is still to play on the street and put your hat out. You play your song, people give you money, done. That has never changed and it never will change.
The Vault: A lot of people are attracted to the idea of being a rock star. What do you think of that?
Chris: Get a job slinging ice cream. Nobody wants to hear this from someone who has been successful, but being a rock star is not that great. You were in your bedroom playing your music and suddenly you’re a multinational corporation. I lost all the carefree days that inspired the music, all the time with family and friends. All I gained was money. Money doesn’t solve your problems. If you’re irresponsible with ten dollars you’re going to be irresponsible with ten million. Of course, some people have different experiences. For me, I’m more comfortable in a punk rock, DIY kind of setup.
The Vault: Although that success has probably given you a certain degree of freedom.
Chris: Yes, success has given me time. Time is the most important thing you can buy with money. Don’t buy a car, buy a year. When I was in Boston, I would paint houses all summer and buy myself a winter of freedom. It’s an amazing gift to give yourself.
The Vault: How did you learn to do what you do?
Chris: Playing on the street and on the subway was a huge classroom. I learned what makes a busy person stop. It’s like this: songs are like the wire and the point of the whole thing is the electricity in the wire. Songs are to a happy crowd as a wire is to electricity. There’s an SAT question in there somewhere.
The Vault: What’s different about singing for children compared to adults?
Chris: It helps me hone my aesthetic choices based on my clear understanding of who I am singing to. In some ways, though, it’s the same as singing on the subway, except kids are even more honest. If they say they love a song, it’s real. They can’t schmooze.
Thanks, Chris! Biz Kid$–want to check out some of Chris’s music? Visit www.babypantsmusic.com and/or www.presidentsrock.com. 
Digital revolution
Before the rise of computers, it was a lot harder (and more expensive) to record and distribute music. Today, one person (maybe you!) can record, mix, and master an album in their bedroom using a cheap computer and distribute the music on the Internet using anything from YouTube to iTunes. This makes it easier for people to get their music heard, but also increases the competition.
Plunging profits
This shift has transformed the music industry. Digital music files are easy to download, which many people do without paying for them. It’s also easy for people to purchase individual tracks instead of a whole CD. As a result, music industry revenue has dropped from $14.6 billion in 1999 to $9 billion in 2008. Most big-time rock acts make their money from touring and selling t-shirts and other merchandise.
Read this Wikipedia article to learn more about the digital music revolution:http://bit.ly/rPybMZ
Creative solutions
For artists, the digital revolution has given them a lot more freedom—both creatively and in how they run their businesses.
Make money making music
Making a living from music isn’t easy, but it’s not as hard as some people make it out to be. You just have to be creative in choosing a career. Here are ten ways you can make a living from music that don’t require you to hit the big time.
Rock star for a day
Ever wanted to try playing in a rock band, but not sure where to start? See if there’s a Rock Camp for Girls in your area. These camps empower girls with workshops and technical training with musicians who really know their stuff. Check the Girls Rock Camp Alliance to find out if  there’s one in your area.
A pile of dollar bills.

What Happens to Old Money

What if I told you that every day, someone destroys more than four TONS of cash? It’s true! The treasury department collects dirty or damaged dollar bills and shreds them into confetti-sized pieces at a rate of up to $1,000,000 per minute! This shredded currency is then recycled into new products like stationary, pencils, and even clothing!

If you got a truckload of shredded money from the Treasury, what would YOU make?

Now Hiring: Professional Monster

At Biz Kid$, we are constantly hearing of innovative, bright, creative kids making things happen in the world. Daz Henry is one of those kids, and we couldn’t help but share his story with you.

Daz is a seventeen-year-old from Atlanta who has been on the hunt for a new job. Among his many applications, Daz has applied at movie theatres, fast food restaurants, bookstores, and even…a haunted house.

For his interview at the haunted house, Daz had to prove his, well, fright factor. Yes, he had to scare his interviewer into hiring him. It worked, and Daz now spends his evenings as a monster, scaring the living daylight out of perfect strangers.

Daz’s process of getting hired was one of timeless lessons. He got a new, more professional email address, spruced up his resume, and sought out family and friends for input before submitting his resume to employers. Daz persevered through multiple interviews, countless applications, and a number of rejections before achieving his goal. Don’t give up, Biz Kid. Persevere! You will eventually be rewarded for your hard work.

Biz Kids, what is the most unusual job you have ever applied for?

A woman with long curly hair and pink hair.

Biz Kid$ Host Amanda on Saving $$ in College

Hey Biz Kids! Amanda here, with a tip that could save you a lot of money during college! I am very fortunate that my wonderful parents pay for my college tuition, but I carry the responsibility of rent, bills, food, extra activities, and of course…textbooks! The first three expenses I mentioned are inevitable to get around. I must have a place to live and I can’t exactly negotiate a rent price with my landlord. I have to have heat, electricity, and plumbing at my home, and of course…I have to eat! (Of course I usually eat at home or pack a lunch to bring to school so I don’t have to pay $10 for a sandwich!)

For the first two years of college, I constantly dreaded buying the $50-$150 textbooks they require you to purchase from the campus bookstore. The first way to save a LITTLE bit of money is to try to buy your textbook USED instead of NEW. You can score this deal if you get there before the rest of the students with the same idea, saving you maybe $20. Now, in my fourth year of college, I am smart enough to know I can save HUNDREDS of dollars on textbooks by buying the books online. You can often find textbooks used for half the price! Some websites may offer you a great deal to rent the textbook for a quarter or a semester and simply send it back to them by their given return date.

The best deal I found while in college was last year when I was taking a “Geology 101” class. I am a theatre and education major and knew that spending $75 on an “Introduction to Geology of the World 10th edition” was not something I wanted to spend my paycheck on. I researched online and found a seller charging (yes this is true!!) $4 for “Introduction to Geology of the World 9th edition!” I ordered the book right away! The next day in class, I approached my teacher and asked if I would fall behind with a 9th edition of the book versus a 10th edition and he told me the reading was simply laid out in a more understandable and entertaining manner in the new edition, but that the content was the same. Score!

Why is the dollar green?

In the 1800’s, new photography technology was being used to make illegal copies of the dollar. As a result, the treasury department sought to invent a system for keeping the dollar from being copied. At that time, the illegal copies were being made using black and white photography. By applying colored ink to the bills, copies would appear gray in color. Of all the colors tested, green was the most successful, and became the new standard color of the American dollar!

For more on the history of money, check out the U.S. Department of the Treasury’s money history page.

A man in a gray shirt.

Biz Kid$ Host Kaelon on Moving Out!

Hey Bizkids! It’s Kaelon, writing from Los Angeles. Well moving out is upon me, and it’s amazing how many little steps go into getting your own place.  Not only did I need to pay the first months rent of $1025, but also a $1000 deposit for potential damages to the apartment over the year.  Then I called the electric company and set up electricity in my name, as well as the gas company.  The electric company needed a $200 deposit for services because I have very little credit and I have never had an account with them.  Also, I’ll need to pay for internet which is another $30 per month.  I’ve decided not to pay for cable to save money, and luckily the water and hot water are paid for, so that’s one thing I don’t need to worry about.  So just to move in, it cost me $2255.  Whew!  Quite a little chunk of change.  Hopefully I won’t run out of money before the first month!

Newsletter: October, 2011
The Vault, October 2011: The Business of Holidays
From Halloween to Hanukkah to New Year’s Day, the holidays are here! For some people, holidays mean time off. For others, they mean working harder than ever. It’s make-or-break time for retail businesses across the country. In this issue of The Vault, we look at the business of holidays!
Interview: Chris Zephro of Trick or Treat Studios
Chris Zephro quit his corporate job to make monster masks. Talk about living your dream–or in this case, your nightmare!
What’s it like running a seasonal business?
That’s the misperception–it’s not seasonal. The first trade show is in December, and there’s a major one every month through April. Then, it’s production time, and in July we start shipping again all the way through October.
Was it hard to make the leap into being an entrepreneur?
Not really. I was working for the Chief Financial Officer of Seagate, the world’s largest manufacturer of hard drives. I was making a ton of money, but I was miserable. So I decided to follow my passion instead.
What skills do you use as head of your own company?
I have an MBA in finance and operations management, and a minor in marketing, so I could run a company. As a mask collector, I had a lot of connections with artists and people at other mask companies.
Your masks are made in Mexico. What’s it like doing manufacturing in another country?
I didn’t outsource to cut costs. I could do it cheaper in the U.S. But the company I work with in Mexico has been making masks for 50 years. They can give me amazing quality in high volume. Plus, the CEO of my manufacturer is one my very best friends.
What do you love about your job?
I love being my own boss. I can do things the way I want to, with integrity, and it’s something I’m passionate about. One of the mask industry greats said that all of us in the Halloween business have a Peter Pan mentality–we get to stay kids forever.
What’s your advice for kids who want to start a business?
Pick something you’re passionate about. You’re going to work the hardest you have ever worked in your life for no money, at least in the beginning. But every time I go in the warehouse or pack a box, I smile.
Want to see some of Chris’s spooky wares? If you don’t mind scary stuff, visit their Web site at www.trickortreatstudios.com–you can even use the code TOTSPC for 10% off your very own mask. WARNING: Some of their masks are pretty gruesome!
 
Finding a holiday job
Looking for a part-time job? The holidays are a great time to look for one in retail, delivery, hospitality, and more. But don’t think it will be a cakewalk. With unemployment up, competition is stiff. You’ll need to polish your resume and work your connections.
Getting a “job job” isn’t your only option. You could also:
  • Make and sell crafts for holiday gifts
  • Ramp up your babysitting gigs
  • Offer holiday housecleaning services
For these and more ideas, check out:
Make hay when the snow falls
They say it’s better to give than to receive, but to retailers, it’s all good. The National Retail Federation projects $466 billion in holiday sales in 2011. That’s only a 2.8% increase from the year before, but in these recessionary times, retailers will take whatever they can get.
Here are a couple more stats from the holiday buffet:
  • Consumers will spend $2.5 billion on Halloween costumers this year. Zombies are the most popular choice, with 2.6 million people planning to dress as the shambling dead this Halloween.
  • 36% of all holiday shopping will happen online this year.

Hanukkah, Ramadan, Christmas, oh my!

If you have a job, you probably get some time off during the holidays (unless you work in retail and volunteer for that Christmas Day shift!). If you do, it’s out of the kindness of your employer’s heart–there’s no federal law that requires them to provide time off. Of course, not everyone celebrates Christmas or Hanukkah. Employers have to make allowances for different religions. Sometimes they offer a “floating” day off for this purpose. Being an employer can be complicated!
 

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