February 1991 — The News Argus Page 11
Trickle Economics
CONSUMER ALERT! Controlling
your finances will be more different year
because of unpredictable economic
conditions and the new tax law. While
the new tax laws will increase your tax
burden, economic recession, for example,
will make it more difficult toincrease
your income. In fact, holding onto your
job may become a major chore in 1991.
CONSUMER ACTION! As the
economy changes, you should adjust
your personal financial plans
accordingly. Furthermore, as you start
the new year, you should give yourself a
financial check up by doing some of the
following things:
# Implement a plan to pay off your
personal debt as soon as possible. In
1991, and thereafter, all interest charged
personal loans is no longer tax deductible.
It is to your advantage to eliminate this
type of debt immediately.
• If you still have to use credit cards,
try to consolidate your credit card use,
one or two cards. Write to Bankcard
Holders of America, 560 or increasing
your contribution to an IRA, 401(k),
403(b), Keogh or other tax-deferred
savings plan;
•Think about starting or joining an
investment club. This is an excellent
way to learn how to invest your money
and meet some friendly people in the
process. To get information on
investment clubs, call the National
Association of Investment Clubs at (313)
543-0612.
• Review your tax withholdings and
estimate your tax payments for 1991.
Remember, in 1991 you will have to pay
a penalty if you fail to pay either at least
as much tax as you paid in 1990 or 90
percent of your actual 1991 tax bill-
whichever is lower.
• You will need between 70 and 80
percent of pre-retirement income at
retirement in order to maintain your
lifestyle, according to retirement
planners. Your security and pension
benefits will generally cover between 50
percent of your retirement income needs.
Therefore, you need to establish a
savings/investment plan to fill the gap
between the income that you will receive
from social security plus your pension,
and the total income that you will need at
retirement.
It wise to start your retirement savings/
investment plan as soon as you start to
work on a regular basis. The younger you
are, the less investment it takes to reach
retirement income goal. Also keep in mind
that the current estimates are that men will
live, 20 years past age of 65 and that
women will live an additional 24 years.
This gives you some idea of the length of
time that your retirement income will
probably have to support you.
• Make sure that your insurance policies
provide the right kind, and the right
amount of insurance for your needs, and
reflect changes in the value of your assets
and liabilities. Ask your insurance agent
to give you an insurance audit, and
contact state's consumer insurance hotline
if you have specific questions about
insurance (1-800-662- 7777).
• Perform detail cost/benefit analysis
before taking out a home equity loan.
Make sure that you know what the
potential costs are, if you default on a
home equity loan.
• Keep your car tuned-up and in good
working order. Think about carpooling
and investing some of your gas money in
a mutual fund.
• Review your budget and spending
plan. If you sense that you need debt
counseling, you may want to contact a
credit counselor who will review your
situation and recommend a debt
reduction plan. The Consumer Credit
Counseling Service (1-800-388-22 local
locations) will recommend a credit
counselor to help you.
• Review your credit bureau report
($10 or free if you been denied credit
recently) for any correct an inaccuracies
or negative items posted on your credit
report. Check the Yellow Pages of your
telephone directory to get the telephone
m
l
photo by Chuck Hanes
Dr. Willie Bailey
Dir, Divblon of Butineta/Economics
number for the appropriate crediting
reporting agencies.
• Develop a plan that will help you to
save at least 10 percent of your income
on a monthly basis. Try to accumulate
enough in a savings account (or mutual
funds that provides writing privileges)
sufficient to cover three to six months of
living expenses. It is also a good idea to
consider starting TRICKLE
ECONOMICS. Write:
Herndon Parkway, Suite 120, Herndon,
VA 22070, for a list of low-interest credit
cards ($1.50), names of banks that charge
no annual fees for VISA and
MASTERCARD ($1.50), and information
on gold cards ($5.00).
Nursing
through its nursing program, has not a
role to play in educating minority
students, but a deserving multicultural
clientele.”
In order to obtain approval by the
University of North Carolina Board of
Governors, the nursing program was
given certain mandates. These were to
increase the pass rate of the National
Council of Licensure Examination
(NCLEX), increase enrollment, and to
become cost-effective in the operation of
Campaign
Reynolds (Health Care Trust), $695,000; Z.
Smith Reynolds Foundation $500,000;
James G. Hanes Memorial Fund $400,000;
N.C. Trust/Distinguished Professors
(Chairperson of Accounting) $334,000;
Kate B. Reynolds (Poor and Needy Trust)
$262,000; J. W. L A. H. Hanes Foundation
$250,000; Winston-Salem Foundation
Chancellor
continued from pg 1
the program.
In response, the nursing program has
made necessary changes to the
curriculum. Courses that emphasize
clinical training for the students have been
added. In addition, a strategy has been
developed to provide content
reinforcement for the students. The
revised curriculum is based on what is
known as the nursing process format. This
is the format that is used for NCLEX.
Also in place is an intensive review
session aimed at preparing students for
the board exam.
A lot has happened since the program
received the mandates from the Board.
Enrollment has jumped from 81 in
Fall,1989, to 105 in Fall,1990; 74 students
were admitted in Spring, 1991. This
represents a 121% enrollment increase!
These, and other improvements, certainly
contributed to the approval of the nursing
program.
As part of its recruitment efforts.
nursing faculty have initiated an RN-tc-
BSN outreach program in Watagua and
Wilkes counties of North Carolina. A
total of 43 students currently participate in
the program. Other enrollment efforts
include recruiting in non-traditional
populations, the acceptance of college
credit for professional experience
acquired by, say, paramedics and licensed
practical nurses, and to increase/create
awareness of career opportunities in
nursing and allied health.
continued from pg 1
$250,000; N. C. Trust/ Distinguished
Professors (Professorship of Education)
$167,000; K. R & J. M. Bryan Family
Foundation $50,000; Glenn Foundation
$50,000; Wheat Foundation $6,000.
Dr. Alex Johnson, Vice Chancellor for
Academic Affairs at WSSU, said of the
donors, ” We are appreciative of the suppoit
corporations, foundations and individuals
have given the campaign." Johnson stated
that this support was an indication that the
university will reach its goal of $25 millioa
He added, " The resources, to be made
available as a result of this campaign will
enable the university to attract additional
students and faculty who would directly
influence the quality and character of the
institution."
The centennial campaign has key
players. Paul Fulton (President of Sara Lee)
serves as Honorary Chairman, and Ed
I Shelton (President of Shelton Companies)
serves as General Chairperson.
continued from pg 1
The Chancellor*, believes that faculty
enrichment is an integral part of
efifective teaching.
On campus development.
Chancellor Thompson disclosed that the
construction of dormitories and faculty
housing is in progress, as is the student
union building. The building, he
explained, will house Student Affairs,
the dining hall, and the unic»i. 'The one
unit design is what's taking time," he
said. "It's our goal to convert buildings
into their proper use as we renovate."
Thompson stated that the power
increase for the university radio station,
WSNC-FM, will be completed by the
(FCC) deadline. He urged interested
parties to become involved in the
station’s programming, hinting that
participants will overwhelm the stations
once it starts transmission at 10,000
watts.
Concerned about the need to
increase enrollment, the Chancellor
armounced that a task force has been
created to address the matter. But he
warned that, "Recruitment is
everybody's business. It can't be left to
the admissions office alone." He went
on: "You must be a servant to the
student, else you're on your own
damnation."
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