September Issue

1SpokaneSavvy.com September 2010

Does YOUR company care

about its employees?

SAVVYYour Guide to Financial Success

SPOKANE

OUR TIPOF THEMONTH

MORTGAGESis NOW the

right TIME to REFINANCE?

Things you should know ...10

2 SpokaneSavvy.com September 2010

We here at J & J Ventures would like to thank everyone that made this first issue a reality.To our new readers (and hopefully new friends), we hope that you will enjoy this newsletter and the content we have worked so hard to put together.From financial news to entertainment. From food and travel to investments and just plain fun reading.Thank you for picking up this issue and we hope that you will continue to support us by responding with any comments or suggestions. You’re also welcome to submit any fun or interesting articles you would like to see published here free of charge. Thank you once again and we look forward to building lasting relationships.Sincerely,

Jesse Martinez

CEO/President9 S. Washington Ste. 509Spokane, WA [email protected]

J & J Ventures is proud to announce its pre-launch issue into theSpokane community.

SAVVYSPOKANE


pg 4 DOES YOUR COMPANY TRULY CARE ABOUT ITS EMPLOYEES?

pg 5 IS YOUR CREDIT STOPPING YOU FROM GETTING A JOB

pg 6 EXISTING HOME SALES DIVE TO 15-YEAR LOW?

pg 7 FOR WHOM ARE YOU INVESTING?

pg 8 10 THINGS YOU SHOULD KNOW ABOUT SAVING

pg 10 SCARCITY OF JOBSPUTS MORE AT RISK OF FORECLOSURE!

pg 11 EATING HEALTHY COULDN’T BE MORE FUN!!

pg 12 RICH HISTORY AND GREAT FOOD

SPOKANE SAVVY MAGAZINE

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Jesse Martinez

[email protected]

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In today’s workplace, many employers work side by side with their employees helping them in different ways; from providing minimal cost insurance for employees and their family, a good 401k program, holiday pay, bonuses and a yearly vacation.But what about the real problems that employees are having that employers won’t look at, and even terminate employees about?? When employees start having financial problems and start getting those harassing phone calls at work, most employers won’t put up with it. And why should they. Right?In today’s economic times, many people have lost their job. And if both spouses were working and one was terminated, that income that helped them stay afloat is now gone. Now that one is no longer working, the financial crisis has hit the fan and it’s not only affecting the employee at home but his/her financial problems are affecting there job in so many ways.Poor Mary or Joe having to ask Bob, a fellow co-worker, for a loan until payday or asking the boss for an advance until payday. How about the employee going to a payday loan place or a pawn shop to make ends meet until pay day?

DOES YOUR COMPANY TRULY CARE ABOUT ITS EMPLOYEES?

So, when a bill collector calls the employees place of work looking for him/her, frustration, panic and embarrassment follow. Your employee now has issues that you know will affect them at work and possibly the companies standing.But how can we avoid these problems from reaching the workplace? As employers, we know our employees and what they are going through. Don’t we? Or do we just not want to deal with the issues that are affecting them? Thus affecting the workplace!Many companies offer a bank to come in and talk about savings, investments and so on. But what about tackling the real issues that the employee has?Your employee has gotten into a financial bind and really needs help. Do you just terminate them or

provide guidance?Most companies out there truly value their employees. They have helped build the business and have been loyal from day one. So let’s get them back on track.Solution: Find a company that will come in and train your employees on budgeting, money management, dealing with debt and negotiating.A real boss/company looks for real solutions for valuable assets to the company – its employees - and it helps build morale in the office, helps employees see that they are not just another number and lets everyone in the community know that this company is a great place to work at and do business with. By just terminating its employees, it will get a reputation of not really caring about its employees.So, will anyone really want to work there? Will employees be happy coming to work? Does the company have real loyalty behind them?We are more than just people that punch a clock. We help each company out there stay in business by providing a great service: our skills, our education, our experience and most importantly, our respect that when they need us, we will be there for them, but in return, we need our employer there for us.

Written and contributed by:J & J Ventures509.340.6430


With the way the economy has been going down - and still seems to be, many people are facing the challenges of having to find new jobs. But with what success? With companies downsizing and people getting behind on their bills, credit has been affecting what companies look for in a prospective new hire and scrutinize applications more than ever before.Having been a faithful and great employee to one employer over the years might have been good in the past but if your credit is poor; your behind on your mortgage, credit card or any bills that reflect negatively on your credit report, they are most likely to choose another candidate, regardless of experience, if their credit does not reflect such financial difficulties.Today’s marketplace has changed the way we have to look at ourselves and how we handle money. How we pay our bills and how we maintain our credit is a direct standing on how society in the workplace is now judging to see if we have a place. Where once upon a time, all it took was a handshake and the job was yours, now your entire financial life is on display for them to look at. And if it’s not up to par with what they are looking for in a financially responsible individual, the assumption is that you would be a risk financially for their business.So, the questions you have to ask yourself are the following: “Is my credit good enough to get a job? Do I have blemishes on my credit report that will

IS YOUR CREDIT STOPPING YOU FROM GETTING A JOB

hurt me being considered for a job? Am I in debt/credit trouble?”The best way to find out if your credit is ok is to check your report yearly. The best place is by logging on to www.annualcreditreport.com. This is the best way to view your credit report and to check for any and all current and pass issues you may or might have had that will hurt you in being considered for a job in today’s marketplace.You might also want to check out www.ftc.gov to see what resources are available to you that can help you with any issues you might come up against that you were not aware of.Doing an annual checkup on yourself and your credit is smart business. Just as we go to the doctor to make sure our bodies are running just fine, we must do the same in regards to our credit. Since the world runs on it, we better get on board and make sure we are in great credit health or get left behind.

Written and Contributed by:J & J Ventures


WASHINGTON (Reuters) - Sales of previously owned U.S. homes took a record drop in July to their lowest pace in 15 years, suggesting further loss of momentum in the economic recovery.As the National Association of Realtors issued the report, Chicago Federal Reserve President Charles Evans warned that the risk of a double-dip recession was higher than six months ago although he did not think output would contract, describing the recovery as ongoing but modest.Existing home sales dropped a record 27.2 percent from June to an annual rate of 3.83 million units, the lowest since May 1995. June’s sales pace was revised down to a 5.26 million-unit pace from a previously reported 5.37 million.Analysts polled by Reuters had expected sales to fall 12 percent to a 4.70 million-unit rate last month.“This is a worrisome report and while it reflects the volatility caused by the end of the (government home-buyer) tax credits, it also indicates a deterioration in the underlying trend for housing demand,” said Michelle Meyer, senior U.S. economist at Bank of America Merrill Lynch in New York.“For the overall economy, the dangerous link to housing is home prices and this

EXISTING HOME SALES DIVE TO 15-YEAR LOW report signifies that home prices should

fall considerably faster, which could tip the economy back into a recession. We are, however, not quite there yet but this is a worrisome report.”U.S. stocks (^SPX - News) added to losses on the report, while prices for safe-haven government debt extended gains. The U.S. dollar fell against the yen and euro.The housing market has been mired in weakness following the end of a homebuyer tax credit in April, which pulled forward sales and building activity.The surprisingly weak home sales data added to signs that the economy was rapidly losing strength, even though the drop may have been exaggerated by the end of a popular housing tax credit. Stubbornly high unemployment has burdened recovery from the longest and deepest recession since the Great Depression.The government on Friday is expected to revise down growth in second-quarter gross domestic product to an annual pace of 1.4 percent from 2.4 percent, according to a Reuters survey.The recovery which started in the second half of 2009 has largely been driven by government stimulus and manufacturing as businesses replenish depleted inventories.With home sales tumbling, the inventory of previously owned homes for sale rose 2.5 percent to 3.98 million units from June, representing a supply of 12.5 months -- the highest since at least 1999 and up from June’s 8.9 months.The jump in the supply of homes was almost double the six to seven months’ supply considered to be a healthy level.Last month foreclosed properties accounted for 22 percent of sales while short sales made up 10 percent. First-time buyers accounted for 38 percent of transactions, the lowest in 12 months.The national median home price rose 0.7 percent from July last year to $182,600.(Reporting by Lucia Mutikani; Editing by James Dalgleish)


You may, on occasion, ask yourself why you are investing. Why go through the fluctuations of the financial markets, the worry over interest rate movements, the fears of today and the uncertainties of tomorrow?To answer this question, you may need to ask yourself one more: For whom am I investing?Consider the following:

You’re investing for yourself.It sounds selfish, but it’s not. You may be investing in your 401(k), IRA and other investment accounts so that you can enjoy a comfortable retirement lifestyle after working your entire adult life. But you’re also investing so that you can become financially independent - free of worries that you’ll become a burden to your grown children or other family members. And given the real possibility of spending two, or even three, decades in an active retirement, it’s imperative that you put as much as you can possibly afford into those investment vehicles that can help you pursue your financial independence.

You’re investing for your family.If you have children or grandchildren, you may well want to help them pay for college. And, as you know, college has gotten much more expensive in recent years, so you’ll need to save and invest from the time your children are very young, and you’ll need to choose the right investment accounts, such as a 529 college savings plan or a Coverdell Education Savings Account. But you’ll also need to think about other family members, too. Have you built up enough in your retirement accounts so that the money would be sufficient to support your surviving spouse should anything happen to you? Will you have enough financial resources to help support your elderly parents should they require assistance? And will you be able to leave the type of legacy you desire? As you can see, when you’re investing for your family, you’ve got a lot to consider.

You’re investing for your beliefs.Throughout your working years, you may try to give as much money as you can to those charitable organizations whose work you support. Yet you may wish you could do even more. And eventually, you may be able to do more.For example, if you hold an investment for many years and then sell it, you’ll have to pay capital gains taxes on any increase in value - and the capital gains tax rate of the future may not be as low as it has been over the past

several years. But if you were to give the appreciated asset to a charitable organization, you could avoid paying the capital gains tax, because the organization would be the one that eventually sold the asset. Plus, you might even get a current income tax break for your contribution. You might also want to include charitable organizations in your estate plans, after consulting with your attorney or other estate tax advisor.

As you can see, you’ve got some “key constituencies” counting on you. By keeping them in mind, you should have the motivation you need to overlook the day-to-day ups and downs of investing - while you keep your focus on your important long-term goals.

This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.

Edward Jones, its employees and financial advisors are not estate planners and cannot provide tax or legal advice.

Consult a qualified tax specialist or attorney for professional advice.

FOR WHOM ARE YOU INVESTING?

David Boley Insurance and Financial Service Agent

Gets you Back

Where you Belong

Office (509) 924-7959 • Fax (509) 921-1223802 E. 5th Ave., PO Box 2612 Spokane, WA 99220

[email protected]


10 THINGS YOU SHOULD KNOW ABOUT SAVINGOne of the most important things you can do for yourself -- and your future -- is to set aside money for saving. Opening a savings account is a good way to start. A habit of saving can help you achieve financial freedom, since you will be prepared for emergencies, as well as prepare for the future that you want. In order to help you better understand the process, here are 10 things you should know about saving your money:

1. Compound Interest Really is MagicYou should realize that compound interest really can help you build your savings faster. This means that the earlier you start, the more your savings will grow. Additionally, realize that the best yield matters, so you should look for high yield money market account or savings.

2. It's OK to Start SmallMany people think they need to start with $1,000 for an emergency fund, or make a big contribution to a retirement account. This is not true. It is OK to start small. Figure out what you can afford now, and get in the habit of saving. Just make sure to increase the amount you save as your income increases, and/or as you pay down debt.

3. You Need Savings GoalsCarefully think about what you want your savings accounts to accomplish, and set goals. Having goals for your money will help you better prepare, and it gives you something to work for. Then you need to create a plan to help you reach those goals.

4. Different Accounts Accomplish Various PurposesThere is more than one kind of savings account. You should have different accounts for different goals. Your emergency fund should be distinct from your retirement account, and savings for short term goals should separate from both of those. Consider the type of account you need for each of your savings goals.

5. Savings Should Be Part of Your BudgetYou will be better off if you make your savings part of your budget. Think of your savings contributions as an "expense" -- and an important one at that. Put "paying yourself" at the top of your financial priorities list.

6. Cash is Not Always KingWhen it comes to saving, cash is not always king. While you want your emergency fund and short term savings goals to benefit from the liquidity of cash, more long term savings endeavors need something with a higher yield. Long term, you need to beat inflation, so that your buying power isn't eroded during retirement. Consider investments like stocks and bonds for long term savings goals, like retirement.

7. For Retirement, Max Out Tax-Advantaged Accounts FirstOne of the ways to get ahead with your retirement savings is to invest. Before you start using a regular investment account, though, make sure you have maxed out your tax-advantage first. Putting money into a 401k and an IRA (including Roth options) before you move to other types of investment accounts is a good idea, since you will see tax advantages.

8. Sometimes You Can Save for Others If you want to help others, you can do so by saving for others' futures. College savings accounts, trust funds and accounts for charitable organizations can help you leave a legacy, and feel good about what you do with your money. And in some cases, you end up with a tax break.

9. Spending is Never Saving Many people talk of "saving" when they get a "good deal." However, you really are not saving in such cases; you are spending money. If you do not need the item, or do not even really want it that much, then the spending aspect is even more pronounced. Do not confuse getting a good bargain with actually saving money.

10. It is Possible to get Too Carried Away While you want to save for the future, it is possible to get too carried away with saving money. Remember that life is for living as well. Strike a balance so that you are saving enough to protect you during an emergency, and to help you toward a fulfilling retirement, but do not lose sight of today.

As seen in U.S. News magazinePinyo is the owner of Moolanomy Personal Finance Blog, which covers a wide range of personal finance and investing topics, with features that include reviews, comparison guides, and Q&A sections.

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Employers are reluctant to hire as economic growth appears to be slowing.The number of Americans who are missing payments and falling into foreclosure has followed the upward trend in unemployment. The jobless rate has remained near double digits all year."Ultimately, the housing story, whether it is delinquencies, homes sales or housing starts, is an employment story, "Jay Brinkmann, the Mortgage Bankers Association's top economist, said in a statement. "Only when we see a consistent increase in employment will we see an increase in sales and starts, and a sustained improvement in the delinquency numbers."More than 2.3 million homes have been repossessed by lenders since the recession began in December 2007, according to foreclosure listing service RealtyTrac Inc. Economists expect the number of foreclosures to grow well into next year.Besides forcing people from their homes, foreclosures and distressed home sales have pressured home values and crippled the broader housing industry. They have made it difficult for homebuilders to compete with the depressed prices and discouraged potential sellers from putting homes on the market.The housing market is struggling even as mortgage rates fell to the lowest level in decades for the ninth time in 10 weeks. Mortgage buyer Freddie Mac said the average rate for a 30-year fixed loan fell to 4.36 percent this week.Rates have fallen since the spring as investors, spooked by a slowing economy, shifted money into the safety of Treasury bonds. That has lowered the yields on long-term Treasury’s. Mortgage rates tend to track those yields.The economy has grown for four straight quarters. But the pace has slowed from a 5 percent annual rate in last year's fourth quarter to 3.7 percent in the January-to-March period. It has weakened even further in the past several months.Many economists expect the government Friday to revise lower its growth estimate for the April-to-June quarter to below 2 percent. That's weak in normal times and even more worrisome after a steep recession.The drop in unemployment claims comes after a steep rise the previous three weeks that sent claims to their highest level in nine months. Even with last week's decline, the four-week average, a less

volatile measure, rose to 486,750, the most since November 2009.Jobless claims fell steadily last year as the economy began expanding, dropping from a peak of 651,000 in March 2009 to about 460,000 at the start of this year. After fluctuating around that level for most of this year, claims started climbing again last month.In a healthy economy, claims generally fall below 400,000.The report is mildly encouraging but should be treated with caution, said Doug Porter, an economist at BMO Capital Markets, because the weekly claims report is highly volatile.The total unemployment benefit rolls climbed steeply, as more people join extended unemployment aid programs that were renewed last month by Congress. During the recession, Congress added up to 73 weeks of emergency aid on top of the 26 weeks typically provided by the states.All told, about 10.1 million people were receiving unemployment checks in the week ended Aug. 7, the latest data available. That's up about 260,000 from the previous week. The extended program lapsed in June, throwing nearly 2 million people off the rolls. But since Congress renewed the program, the total benefit rolls have increased by 2.2 million, according to Dan Greenhaus, chief economic strategist at Miller Tabak. That suggests "that there is little if any meaningful hiring throughout the economy," Greenhaus wrote in a note to clients. Some companies are still cutting workers. Northrop Grumman Corp. said Wednesday that it will lay off 642 workers at its shipyard in Pascagoula, Miss., by the end of the year. The shipyard currently has 11,000 employees. And in late July, a NASA private contractor, the United Space Alliance, began telling 1,400 employees that they would be laid off in the fall as the U.S. space agency ends the space shuttle program. The United Space Alliance is owned by Boeing Co. and Lockheed Martin Corp. and has 8,100 employees. __ AP Business Writer Tali Arbel contributed to this report.

SCARCITY OF JOBS PUTS MORE AT RISK OF FORECLOSURE!WASHINGTON – One in 10 American households with a mortgage is at risk of losing its home, and the foreclosure crisis could worsen if jobs remain scarce.About 9.9 percent of homeowners had missed at least one mortgage payment as of June 30, the Mortgage Bankers Association said Thursday. That number, adjusted for seasonal factors, was barely down from a record-high of more than 10 percent as of April 30.The Labor Department said requests for unemployment benefits fell sharply last week. The drop in first-time claims to a seasonally adjusted 473,000 was the first decline in a month and a hopeful sign after a raft of dismal economic reports.Still, unemployment claims remain much higher than they would be in a healthy economy.


as protein, calcium, magnesium, riboflavin, vitamins B-6 and B-12 and more! Yogurt here at Froyo earth is not only good for you, it’s great for you. Froyo earth has a very nice appeal to it that not only draws in the health conscious older crowd (such as myself and others), but the younger generation is truly enjoying the taste as well.Just don’t tell them it’s healthy for them!I have seen more teens in here enjoying themselves in the past few days more than at any other fast food place.Now, I have been to froyo earth a few times already (3 times in just 2 days – I couldn’t help myself – very yummy indeed), and I noticed how people were really enjoying what flavor they were going to delight in. The decision process is a big one.With so many delicious flavors and choices, one can’t go wrong. Every flavor is grand. Plus you get to top it off with as many of the toppings they offer. From m&m’s to chocolate chips, real strawberries and raspberries to pineapple and other great toppings. The choice is endless but pleasure awaits you at the end of that spoon once you scoop it up and have it head for your mouth!froyo earth, a name that will be here in our hometown for years to come and a place where we can take refuge from all the others - No more burgers and fries for this guy!!

Written and contributed by:Jesse Martinez

Tired of the same ole’ burger? Tired of not having something with real flavor and kick to it?With so many fast food places to choose from - you know the ones - a breath of fresh air has arrived.Are you ready to have your taste buds delighted again? Are you wanting real flavor to just jump out at you as you take each and every spoonful?Then get your get up and go AND get up and go - to Spokane’s newest spot.Introducing “FROYO EARTH”! A place where you can enjoy the atmosphere while making new friends (as I have), and where flavor comes alive that will make your mouth water with anticipation, just waiting for that first mouthful of delicious frozen yogurt!Don’t forget, it has plenty of nutritional value as well, such

EATING HEALTHY COULDN’T BE MORE FUN!!

GET whatyou WANT ...with out the guilt

Ask about our delivery options for both Medical & Business172 S Division St. Spokane, WA 99202 • (509) 455-8000


It’s no mystery that Spokane offers so many flavors that your pallet never has to be bored with the usual.At every turn, you will find a restaurant that has just what the taste buds have ordered.But, at the corner of 1st and Monroe lies a great place called “Catacombs Pub”. A place rich with history and an atmosphere that takes you back to the days of old world charm – even though it was only established in 02.Catacombs Pub has been a part of Spokane’s best restaurants and has a menu that is truly wonderful and full of flavor.But let’s look at the atmosphere first shall we…When you first step into the restaurant you are carried away to a different time. The place goes back to the early 1900’s and you feel warm and cozy from the start.From the stonework and architecture to the feel that you get upon sitting down at your table (you’re actually sitting in what once was the boiler room),you are carried away (if not,

just use your imagination ok), to a time when the old miners were there and the place was bustling with activity (the upper room from the bar to my understanding, is where the coal was dropped from above.From my experience - and I have traveled all over - I have found that Catacombs Pub is truly a pleasure to enjoy and relax at. The food is great, the service was wonderful and the staff catered to our needs with much attention to detail.Ok, now the drinks…WOW!! We ordered one called the “naughty girl” and yes it was. And I had the “Pomatini” and it was delicious!The food was excellent!!! We ordered the “Meatloaf” and “Chicken Paprikash”. We were in for a great surprise. It was wonderful all the way around. My taste buds were singing and my heart was content, as well as my stomach. No more fast food for this guy!!Our server, “Veronica”, was a sweetheart. She made sure we

RICH HISTORY AND GREAT FOOD


were well taken care of and the manager, “Melissa”, checked in on us and also provided us with the history of “The Montvale Hotel”. They were very attentive and made sure our visit there would not be our last. And yes, they accomplished their goal; we will be returning patrons on a regular basis.Catacombs Pub is here to stay and will to continue to provide a great atmosphere, great food and drinks and a place where anyone can enjoy the company of others that are also indulging in the spirit of happiness and fun that is in the air when you step into their world - the wonderful world that IS “Catacombs Pub”!

Written and contributed by:Spokane Savvy


The most interesting events The hottest night clubs The best restaurants The most educated advice on your financial success! Visit SpokaneSavvy.com

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