Keeth Smart
3x Olympian and 2008 Olympic Silver Medalist
Cofounder and COO, Physiclo

Over the past decade, millions of Americans have realized the importance of being physically fit.  A healthy lifestyle has been emphasized through programs such as the NFL’s Play 60 or Mrs. Obama’s Let’s Move campaign.

However, there is still a large percentage of the population including children that are either obese or severely out of shape.  I have spent years trying to rectify this problem and it has now become my mission in life.

Since 2003, I have served as a volunteer fitness and fencing coach that teaches over 150 kids at the Peter Westbrook Foundation every Saturday morning.  The mission of the classes is to expose minority children to fencing.  However, our immediate goal is to get them physically active.  We push the kids through a series of calisthenics and core workouts and only after an hour of intense exercise, do we take a break and begin fencing.  We make it hard but fun.

Most recently, I teamed up with medical students, doctors and engineers to create a fitness technology company called Physiclo.  We created the world’s first resistance activewear that activates ones leg muscles by 23% resulting in 14% more calories burned with each use.  Physiclo has been in development for over two years and it is finally available to help everyone boost their workouts!

Physiclo’s first product is a lower body garment.  However, we will be expanding to offer tops, sleeves, socks and fitness trackers, shortly.  Our goal is to help everyone achieve his or her personal best.  We want to own the fitness space and help every person burn more calories and tone muscles.

Additionally, Physiclo will soon be offering fitness tips and videos through our website for anyone that wants to know how to stay in shape.  We want to develop a community of fitness enthusiasts, which will then trickle down to shaping the behaviors of our children.

Being physically fit is not only important for you but it sends the right message to our children.

www.physiclo.com

Jahree Morrison
Student, Bergen Community College
Winner, Straight Road Finance Scholarship 2015

“Don’t tell me what you value, show me your budget, and I’ll tell you what you value.” ― Biden

Budgeting is organizing your finances in order to gain certain value, from your money. It is quite that simple. What we budget for, is what we want to attain or maintain. We do indeed budget for what we value.

Why budget?  We organize money primarily to ensure that needs, obligations and goals are met. We budget to balance our lives and to attain peace of mind.

When do we budget? We have been budgeting because we have goals that require financing. If you haven’t started budgeting yet, the time is NOW, before the humdrum of assignments and deadlines get in the way.

Before getting into how to budget, let’s examine some strategies that can improve budgeting.

Cut Costs- Use Your Student ID:  Enrollment in college probably entitles you to discounts on movie tickets, museum entries and other social treats. Think about things that are important or useful in your life. Start thinking about how to substitute high cost for lower cost, even for free, by using your student ID. Ask about such perks when you’re doing business or going social. You may be able to use the gym or pool free at school. In that case, scrap the monthly fees.

Cut Costs- Downsize your lifestyle:

This means shopping becomes more focused on things you need, rather than on the things you like. Pack meals. Purchases on each meal can really add up. Such savings can be deferred to expenses like your phone bill, or books later on. Be prepared to reduce your visits to your favorite paid entertainment spots. If you do drive, seek to lessen car insurance costs. Your grades might help at some point at some insurance companies. If you work and live where you attend school, you might be able to get a rate reduction. This can really add up. You could save on gas and car maintenance by driving less. If you live near enough, if it is safe and the weather allows, walk or ride to your destinations. These provide the health benefits of exercise.

Cut Costs- Use Coupons: Reach out for coupons but do not compete with the coupon queen. Maintain your study time but don’t be hesitant to do a moderate search for discounts on the things or services you purchase regularly. It’s great to save, but you’ll probably not remember how much money you saved on laundry soap in August 2015 for a long time. You’ll probably remember what grades you got for that difficult or favorite course, much longer.

Cut Costs- Avoid debt:

“A budget tells us what we can’t afford, but it doesn’t keep us from buying it.” ― William Feather

Credit cards are the most flexible financial tool I can think of, but  oh, they carry heavy penalties if not managed very carefully. Avoid debt as much as possible, especially credit card debt. Do not spend more than you already have in cash to repay. This may avoid stress later. Expenses are surely in your future. Keeping them as low as possible now, curtails being overwhelmed with them later.

Cut costs – Appreciate what you have, if it is serving you well:

“We must consult our means rather than our wishes.” ― George Washington

A scrappy apartment with annoying neighbors or roommates, is a home with much vibrancy. An overly demanding boss is a real-life caricature that enables a paycheck. If that old computer still works well, it is your best friend when the library is in finals-frenzy. If that hooptie gets you where you need to go, it is your feet running faster than you can. appreciate it all. Again, this is the opportunity cost for a greater lifestyle after graduation. It’s all a reminder that you are progressing toward your goals. One day, you will laugh at it all.

Extras:

Stay in contact with your loving friends and family. Send a selfie or make phone calls every so often. If you happen to need some emergency cash, you would have already been deserving of it.

Follow the steps to budget that are explained later. Take care of your expenses and other deductions from income first. Choose a pattern that works with how often you acquire income, but maintain a monthly overview. Try to be at least a month ahead at all times.

Do this immediately!

Apply for all the free money you can get. No money is free. Grants, scholarships and financial aid, are gifts and investments from someone, toward a good cause. Apply! Apply! Apply! More importantly- use them well. Hopefully, one day you will return the favor to someone else.

And now the grand finale! How do we budget?  Firstly, ensure that your financial goals are realistic. Make lists of your incomes, expenses and savings needs, each in priority. Consider what your budget is going to take from your life. Ensure that this cost is not too uncomfortable. Do these, weeks in advance, because you may need to revisit these lists and readjust your budget. Wrap up your budget before the semester hastens pace.

Step 1- Total your income. Divide it into weeks, then into days to have clear knowledge of weekly and daily income. It is a good idea to underestimate your income and overestimate your expenses. This provides some room for unforeseen expenses.

Step 2- Total your monthly expenses.

Step 3- Total your savings needs. Have a separate account for these.

Step 4- Total how much you want to put aside for emergencies.

Step 5- Add the totals for steps two to four. This becomes your total deduction from your income. Remember to take care of this, first thing every month.

Step 6 – Subtract your total deduction for step five from your total income in step one. If you have a positive balance, your budget is workable. If you do not, make adjustments, for example in step four, then revisit the steps.

Step 7 – Return to step six. Divide the balance into weeks then into days. This is your total weekly and daily expendable income. Never exceed this number during spending.

Budgeting can become a real task if you track expenditure and spending meticulously. This is a great idea, but realistically, more words and numbers can probably feel like yet, another assignment. Nevertheless try to maintain spending limits that you have established. Being in financial control will help a great deal. It is important to remember that the college years are a transformation into a lifestyle of a larger income. Make the sacrifices now, so that you can hang on to more of that income later. A habit of budgeting now can help to perfect lifelong financial management.

 

Works Cited

“Budgeting Quotes – Dille & Associates.” Budgeting Quotes – Dille & Associates. N.p., n.d. Web. 28 July 2015.