The latest issue of TIME magazine reports that American employers loose an estimated $1.2 billion in productivity during NCAA’s basketball March Madness. MSN Money puts a bigger price tag on the loss of productivity: $3.8 billion dollars (based on 2006 numbers). I am not sure how TIME got it’s numbers, but MSN Money numbers were calculated by a consulting firm Challenger, Gary, and Christmas…and they made the calculations assuming that about 58 million fans will spend 13.5 minutes during their work hours for 16 working days. Interestingly, last year Forbes magazine ran an article titled “The (Overblown) Cost of March Madness” on this subject and it says :
….And many workers would have wasted those 13.5 minutes anyway, playing FreeCell or Googling their ex-girlfriends.
Now it’s time for some interesting posts of the week.
- Financial Education: Are Schools Doing Enough? by JD @ Get Rich Slowly. On the topic of lack of financial education in US, JD asks his readers how they plan to teach money skills to kids. If you have an answer to the question below, you better head over to Get Rich Slowly and make all of us wiser:
but how do you motivate a bright high school student to focus on â€œhow to write a checkâ€ when heâ€™d rather be passing notes with girls?
- How Stressed Are You? Rating The Most Stressful Financial Events by SVB @ The Digerati Life. In this post, SVB lists a number of financially stressful events and makes an attempt to find the most stressful ones. There are some interesting things in the list like “Becoming suddenly wealthy, when you need to please everyone ”
- Personal Finance for Sports Fans â€“ Ignore the Analysts & the Hype by Money Smart Life. This post is somewhat in tune with what I have said earlier on this blog through various posts. Hear out the analysts (and other experts), but when it is time to make decisions, you are better off paying attention to your personal situation and figure out what works best for you (not what works best for other people).
- How to Invest in 4-Week T-Bills: The Complete Process by Sun @ The Sun’s Financial Diary. A very useful step-by-step guide showing us how to invest in T-Bills. I will probably get into this stuff sometime in the coming week.
- Our Honeymoon Savings by Lazy @ Lazy Man and Money. Lazy talks about how he plans to save on his honeymoon…which is like 4 months away
- 24 Signs That You Could be in Financial Trouble #6: Lack of Adequately Funding a Retirement Account by Jeremy @ Generation X Finance. Jeremy reminds us to save *sufficiently* towards our retirements. According to him, here is why:
Sure, maybe you are 30 years old right now and you donâ€™t think you need to save for retirement because after 60 youâ€™re going to continue to work part-time or start your own business. That sounds fine on paper but you have no way of knowing what will happen tomorrow let alone 30 years from now.
- Little People, Big Money by Matt @ Binary Dollar. Some words of respect for little men who made a ton of money.
- Why I Don’t Judge People By Their Car by Super Saver @ My Wealth Builder. Read about how people make assumptions about certain drivers based on what car they drive.
- Wild Uses for Paper Clips: Tip Tuesday Report by Sharon @ The Frugal Duchess. The title of the article says it all.
Also, this week (again) I have been consistently lazy and did not mention some carnivals on time. Here are the links: