Four Degrees That Could Ruin Your Career Chances

Your college major might have serious implications for your future career, so choose wisely.

By Jennifer Berry

If you're going to spend the time and money to go to college, you're probably going to expect to see a good return on your investment. But here's something you might not expect: Some degrees could actually hurt your chances of getting the career you want.
Unemployment figures can range widely depending on the major, according to a 2013 study by the Georgetown University study titled "Hard Times: College Majors, Unemployment and Earnings." To understand why, it helps to look at a degree in the same way an employer might.
"Your major provides two key elements of job readiness: subject matter expertise and essential skills and training," says Carol Barash, founder and CEO of Story To College, which teaches students how to use storytelling tools to advocate for themselves in school, work, and life.
And those skills need to be in demand, too. “If you want to be employable upon graduation, you have to learn tactical skills that are needed by companies that are growing,” explains Michael Staton, partner at Learn Capital, a venture capital firm focused on funding entrepreneurs with a vision for better and smarter learning.
The good news is that for many majors with a statistically high unemployment rate among recent graduates, there are similar alternatives with lower unemployment rates. Read on to learn about a few majors with high unemployment rates - and some potential alternate degrees with better prospects.*

High-Unemployment Degree #1: Economics
Unemployment Rate: 10.4%

You're fascinated by the life-blood of our economy: money. A degree in economics might seem like a perfect fit, but think twice before you get started: With so many people pursuing this degree, you could be left high and dry after graduation.
"Economics is a very popular major - at many universities it is the most popular major," says Barash. "But there are very few entry-level jobs as economists." Why is that? "An economist is someone who analyzes and predicts trends," says Barash. "Most people right out of college don't have enough analytical experience to work as economists."
This degree can also be heavy on the theory and light on the practical know-how, says Staton. According to the College Board (a nonprofit organization committed to excellence in education), some of the classes economics majors take include comparative economic systems, economic theory, and econometrics.

More Promising Alternative: Finance

Unemployment Rate: 5.9%
Looking for an alternative degree where you can still explore the impact of money on our modern life - but also prepare to pursue a career after graduation? Check out finance.
According to the College Board, a degree in finance can prepare you to make financial decisions for companies, raise funds, and invest wisely - all practical know-how skills that potential employers might be looking for.
How It Improves Your Odds: "Economics teaches market forces, but finance teaches you how to manipulate spreadsheets, package and evaluate financial products, and handle operational concerns of companies," explains Staton.
Next step: Click to Find the Right Finance Program.
Just look to the College Board for evidence of what you could learn: Typical major courses are accounting and statistics for financial analysis, financial management, and investments.
"Finance is replacing economics as a high-impact, high-salary career choice," adds Barash. And while Barash notes that your first job will probably be mostly working with Excel manipulating numbers, she also notes that these jobs tend to be compensated well.
Career Options**:

• Financial analyst
• Personal financial advisor

High-Unemployment Degree #2: Political Science and Government
Unemployment Rate: 11.1%

Are you a political junky, addicted to blogs and political news outlets? Before you jump into a political science and government degree, you might want to do some serious thinking, as its unemployment rate suggests it might not put you in the best position to get a job.
Why? It's another degree focused more on academics and less on applicable skills. As Staton says, "Political science covers high-level theory and research methods." Just look at some of the courses listed by the College Board: political theory, judicial processes, and contemporary political ideologies.
And while the degree may have some important application, its job potential is very narrow. According to Barash, "These are great degrees if you want to run for public office - and we definitely need young people committed to this type of public service - but not for very many other entry-level jobs." 

More Promising Alternative: Criminal Justice

Unemployment Rate: 8.9%
Want to check out a related degree with a lower unemployment rate? Why not consider criminal justice?
Criminal justice is an interdisciplinary major where you might study everything form law to psychology, says the College Board. Some of the typical classes for this major include criminology, juvenile justice, criminal law, and the U.S. criminal-justice system.
How It Improves Your Odds: Why might this be a better choice than a poli-sci degree? "Public service is out - but catching criminals and terrorists is in," says Barash. In other words, job prospects for people who get out in the world and stop the bad guys might be better than job prospects for people who theorize about political ideologies or judicial processes.
Next step: Click to Find the Right Criminal Justice Program.
"Criminal justice teaches you how to enforce and work within the growing justice system," says Staton, highlighting another benefit to this degree.
Career Options**:

• Probation officer
• Police officer

High-Unemployment Degree #3: Information Systems
Unemployment Rate: 14.7%

Given the tech-driven world we live in, you may think any computer-related degree could help pave the way to a great career. Think again. Not all computer-related degrees are created equal - and if you choose to major in information systems, you could be limiting your future career options.
"Information systems is conceptual work around information management and computer systems in the corporate environment (which is moving to the cloud, so very few people will be employed in information systems like they are now)," says Staton. In other words, with more information being stored off-site, there will be less need for people employed on-site.
Barash also points to rapid changes in technology as one reason why this degree is not what it used to be. "People with degrees in information systems used to plan the computer programs and systems that other people built," she says Barash. "But everything moves more quickly now, and the whole tech world is much more entrepreneurial." Instead of one set of people planning programs and systems and another set building them, Barash says, the builders are becoming the designers as well, so they might have degrees in electrical engineering and/or computer science.

More Promising Alternative: Computer Science

Unemployment Rate: 8.7%
Compared to information systems, computer science has a much less frightening unemployment rate, and it could be a great alternative degree for anyone interested in computers.
If you want to design computer programs, impact the way humans and computers interact, or help pioneer artificial intelligence (all what the College Board says you could learn in this program), a degree in computer science will get you a lot further than a degree in information systems. Some of the courses typical for this major include digital system design, software engineering, and artificial intelligence.
How It Improves Your Odds: "Computer science teaches you how to write the code that makes the whole Internet work," says Staton. Demand for this degree is high, he continues, but there aren't enough qualified graduates to fill the open positions in the growing internet sector.
Next step: Click to Find the Right Computer Science Program.
Barash shares that sentiment: "Computer science is a great degree because you get actual experience writing computer code and building things," says Barash. "This is so important that we should be teaching more of it in high school."
And why is coding so important? According to Hadi Partovi, founder of Code.org, a nonprofit foundation dedicated to growing computer programming education, "Learning to code unlocks creative thinking and opens unparalleled career options. Coding is the new American Dream and should be available to everybody, not just the lucky few."
Career Options**:

• Network and computer systems administrator
• Software developer

High-Unemployment Degree #4: Architecture
Unemployment Rate: 12.8%

Do you dream of creating landmark buildings or custom homes to delight your clients? Think carefully before you sign up for that architecture degree - in the "Hard Times" study architecture has one of the highest unemployment rates among recent college graduates.
One of the main drawbacks of this degree is what it doesn't teach you. "Architects are planners, designers," says Barash. The trouble is that in today's market, she says, there's a demand for people who can design and build. "Often people with training in the build side gain the design skills later. It's much harder to do the reverse."

More Promising Alternative: Civil Engineering

Unemployment Rate: 7.6%
So what should you consider as an alternate degree that could help prepare you for the "build" aspect of the job? Why not look into civil engineering, which reports a much lower unemployment rate among grads?
Rather than focusing primarily on design, as a civil engineering major you might study crucial practical skills which according to the College Board might include structural analysis and design, strength of materials, and environmental awareness for engineers.
How It Improves Your Odds: Civil engineering majors learn to build projects in addition to designing them - a marketable skill that many architects lack coming out of school, says Barash.
Next step: Click to Find the Right Engineering Program.
And the practical skills you learn can help prepare you to pursue a career creating buildings - or even designing communities.
"Unlike an architect who designs and plans on a small scale (think one building), a civil engineer plans and implements on a much larger scale: town and city planning, roads and bridges, redevelopment, even green urban planning," Barash says.
Career Options**:

• Civil engineer
• Construction manager

* All unemployment rates included here are from the 2013 Georgetown "Hard Times" study and are associated with recent college graduates of each major. The report defines recent college graduates as bachelor's degree holders ages 22-26.

** All potential careers listed from the 2012-2013 U.S. Department of Labor Occupational Outlook Handbook. The Department of Labor cites the associated degrees as common, required, preferred, or one of a number of degrees acceptable as preparation for the potential career. In some instances, candidates might require further schooling, professional certifications, or experience, before being qualified to pursue the career.

Next Article: Six Smart Degrees You Could Earn in Two Years »

Source( http://education.yahoo.net/articles/degrees_with_poor_job_prospects.htm?kid=1O16C)

Six Careers Undergoing Rapid Growth

If you want to transition into a hot career field, check out these fast-growing jobs.

By Andrea Duchon

Getting ready to switch careers? It's probably a good idea to look before you leap. By that we mean you might want to check out whether your desired field is booming or shrinking before you decide to invest any time or money preparing for it.
A quick glance at the U.S. Department of Labor job projections from 2010 to 2020 will tell you just which careers are experiencing a growth spurt and why. But to make your life easier, we've pulled together a list of six top careers that are projected to expand by at least 30 percent and add at least 65,000 jobs by 2020.
So keep reading to learn about six fast-growing careers that will be in demand tomorrow and beyond.

Career #1: Medical Assistant

If you think you might enjoy helping other people directly and you want a field that's growing quickly from 2010 through 2020, a career as a medical assistant could fit the bill.

Projected Growth 2010-2020: 31 percent, or 162,900 new jobs*

Medical assistants record patient history, measure vital signs, give injections, and schedule patient appointments, says the U.S. Department of Labor. Along with the clinical aspect of the job, medical assistants will sometimes complete administrative tasks around the office.
Why It's Hot: There is increasing focus on preventative care and doctors are under pressure to see more patients, says Joe Weinlick, vice president of marketing at Beyond.com, a career network focused on helping people grow and succeed professionally. "As a result, doctors are hiring more medical assistants so they can continue to provide good service with an increased workload."
And why is there such demand from patients?
"Many people - especially of the baby boomer age - are heading to the doctor more and more due to declining health," explains Weinlick. "Younger patients are better educated about their health and recognize the need for preventative care more than ever before, so they're also scheduling more appointments with physicians."
Next step: Click to Find the Right Medical Assisting Program.
Education Requirements: In most states there are no formal education requirements for pursuing a career as a medical assistant, and many assistants learn through on-the-job training, says the Department of Labor. However, some medical assistants may pursue a formal education program and employers may prefer these candidates. Such programs could take about one year and lead to a certificate or diploma. Community colleges might offer two-year programs that result in an associate's degree.

Career #2: Market Research Analyst

Have you always had a knack for predicting trends and understanding what people want? You may want to take a look at the in-demand field of market research analysis.

Projected Growth 2010-2020: 41 percent, or 116,600 new jobs

As a market research analyst, you could help companies monitor and forecast marketing sales and trends, according to the U.S. Department of Labor. You might work in local, regional, or national areas to examine potential sales, measure the effectiveness of marketing programs, or present reports to clients and management.
Why It's Hot: "Companies have more information than they've ever had, and people who are able to understand and interpret data are in short supply," notes Weinlick. "Market research analysts can help transform an abundance of data into competitive advantage."
He adds that the ability to unearth simple insights from complex data sources is also in high demand, which is why we're seeing this industry skyrocket.
Next step: Click to Find the Right Business Administration Program.
Education Requirements: In order to pursue this career, the Department of Labor says you'll typically need a bachelor's degree in market research or a related field. However, many have a degree in computer science, math, or statistics. "Others have a background in business administration, communications, or one of the social sciences," says the Department, while top research analyst positions often require a master's degree.

Career #3: Cost Estimator

Maybe you've always been good at figuring out budgets and unraveling problems. The in-demand field of cost estimation could be the perfect fit for your analytical mind.

Projected Growth 2010-2020: 36 percent, or 67,500 new jobs*

Cost estimators often work in offices and visit construction sites or factory floors and estimate how much money, resources, and labor are required to complete a project or manufacture a product, reports the U.S. Department of Labor. More specifically, cost estimators may be tasked with consulting with industry experts, traveling to job sites to gather information, and reading blueprints and technical documents.
Why It's Hot: "Doing more with less is the new normal," says Weinlick. "While the economy is recovering, there is scrutiny across all sectors on cost, creating demand for estimators who can help understand and reduce expenses."
But it's not just that employers are trying to cut back on costs, says Weinlick, building in general is back on the rise, creating an increased demand for talented cost estimators. "We are entering a rebuilding era, with a need for new commercial building construction as well as continued investment in infrastructure."
Next step: Click to Find the Right Cost Estimator Program.
Education Requirements: The Department of Labor says that generally a bachelor's degree in a field like construction management or building science is required to pursue a career as a construction cost estimator. For those who prefer estimating manufacturing cost, a bachelor's degree in engineering, physical sciences, mathematics, or statistics is typically needed.
The Department also says that some employers prefer candidates with backgrounds in business-related disciplines, such as accounting, finance, business, or economics. And finally, "Some highly experienced construction workers with analytical abilities may also qualify without a bachelor's degree," notes the Department.

Career #4: Dental Hygienist

The medical field is growing at a red-hot pace, so it makes sense that a career as a dental hygienist is one of the top in-demand careers.

Projected Growth 2010-2020: 38 percent, or 68,500 new jobs*

As a dental hygienist you might work directly with patients in a dentist's office by cleaning their teeth, examining for disease, or educating them on improving their oral health, says the U.S. Department of Labor.
Why It's Hot: "Twenty years ago, people avoided going to the doctor or dentist," says Weinlick. But times have changed. "Because we know more about maintaining our health, we're also becoming obsessed with staying healthy, and that includes our oral health. More people are going to the dentist more often, and that's spurring demand for dental hygienists."
Next step: Click to Find the Right Dental Hygiene Program.
Education Requirements: The Department of Labor reports that in addition to being required to have a license, you typically need an associate's degree in dental hygiene to pursue a career as a dental hygienist.

Career #5: Software Developer

Do you enjoy working with computers and dreaming up interesting programs? The absolutely booming field of software development could be calling your name.

Projected Growth 2010-2020: 30 percent, or 270,900 new jobs*

The U.S. Department of Labor says "software developers are the creative minds behind computer programs." Based on users' needs, they design, test, and develop software, then ensure everything works together to function normally. The Department of Labor also notes that software developers are in charge of the entire creation process for a program.
Why It's Hot: "Employers need software developers because there is a large increase in the demand for computer software and new applications for mobile technology as people are shifting to handheld devices and smartphones," notes Weinlick. "The demand for software developers stayed strong throughout the recent downturn, and continues to grow as we shift to a technology driven society."
Next step: Click to Find the Right Computer Science Program.
Education Requirements: According to the Department, "software developers usually have a bachelor's degree, typically in computer science, software engineering, or a related field." And while math degrees are also acceptable, computer science degrees are the most common.

Career #6: Personal Financial Advisor

If managing money is one of your strong suits, you may want to consider getting into the growing field of financial advising.

Projected Growth 2010-2020: 32 percent, or 66,400 new jobs*

Personal financial advisors help people with taxes, investments, and insurance decisions, according to the U.S. Department of Labor. They may typically meet with and educate their clients on investment options and risks, and monitor their client's accounts to determine if changes need to be made. The Department of Labor says they may also research investment opportunities.
Why It's Hot: "With the unpredictability of the economy over the past few years, demand for financial advisors will grow as more people turn to them for guidance," notes Weinlick. "This is especially true of baby boomers, who are nearing retirement age and may be uncertain about what they need to do financially as they transition to a new phase in their lives."
Next step: Click to Find the Right Finance Program.
Education Requirements: The Department reports that "personal financial advisors typically need a bachelor's degree." They also note that while a specific field of study isn't required, getting a degree in finance, economics, accounting, business, mathematics, or law is a good way to prepare for this career.

* Projected 2010-2020 job growth and openings from the U.S. Department of Labor's Occupational Outlook Handbook, 2012-13 edition.

Next Article: Degrees You Can Earn on Your Lunch Break»

Source(http://education.yahoo.net/articles/six_jobs_on_the_rise.htm?kid=1O16B)

Careers On Their Way Out (And What's Here to Stay)

Warning: Your future job may be in decline. Before you make any sudden moves, check out these smarter, more stable alternatives.

By Danielle Blundell

You've heard it before - all jobs aren't created equally. But what does that mean? Salary is one obvious point of differentiation, as is the type of labor, bosses' management styles, and office culture. But have you considered the health of a job's industry on the whole? Turns out this factor is pretty important for anyone seeking employment these days, as some jobs are slowly fading into history while others are hurtling toward a much brighter future.
So what's the great agent of change among these professions? "Many roles are evolving and being created every day because of technology," says Megan Pittsley-Fox, a career coach and resume writer for WorkLife, a career advising company. "While some are changing, others are completely disappearing."
And the numbers don't lie, folks. We've taken a look at five professions that the U.S. Department of Labor predicts are in decline and paired each with a similar job that's anticipating steady growth over the next couple of years. Intrigued? Keep reading for five careers that are on their way out and five more that are here to stay.

Career #1: File Clerk

You've got an uncanny knack for remembering details, staying organized, and you've never lost a receipt in your life. Sounds like those propensities would make you a great candidate for pursuing a job as a file clerk. There's only one down side to taking this kind of job: It's shrinking.
Why It's Declining: The routine daily tasks involved in this job make it a prime place for technology to start replacing humans. "Working as a file clerk is one of the industries that's going to be removed or deskilled through heavy automation," says Tim Ragan, owner of Career Coaching International.
To put a numerical value on technological automation, the U.S. Department of Labor predicts this field will experience a 5 percent loss over the 2010 to 2020 time period. That's 8,800 total jobs, folks.

What to Do Instead: Accountant/Auditor

Pushing papers as a file clerk likely won't be as lucrative as crunching numbers as an accountant. And fortunately, as an accountant, you could do much more than that. In fact, the job might involve everything from analyzing a company's financial statements to computing taxes and suggesting cost-cutting strategies to supervisors, notes the Department of Labor.
Even better news, the Department says this field is expected to grow about 16 percent by 2020, which balances out to 190,700 jobs.
Pittsley-Fox has some ideas about how to go the long haul in this field: "It all comes down to technology - look towards the newest advances in your field and become an expert at them to increase your growth, stability, and advancement opportunities." She adds that people working in accounting can make themselves more marketable by learning enterprise resource planning (ERP) and accounting systems, automated/customized reporting capabilities, and data analysis.

Click to Find the Right Accounting Program.

Education Options: According to the Department, you'll need to get a bachelor's in accounting or a related field to pursue a career as an accountant or auditor.

Career #2: Reporter, Correspondent, or News Analyst

"All the Presidents Men," HBO's "News Room," "Anchorman." Being a reporter may be cool enough to portray - and gently mock - on the screen, but sadly, in the years going forward, there will be far fewer Ron Burgundy's reporting than you think.
Why It's Declining: The U.S. Department of Labor attributes the decline in this field to "the consolidation of news organizations, decreases in the readership of newspapers, and a decline in viewership for many news television shows." As the media landscape changes, the Department of Labor predicts that organizations will cut staff in order to cut costs.
How deep will those cuts run? The Department reports a 6 percent contraction throughout the field, accounting for 3,200 jobs over the period from 2010 to 2020, which is quite a bit when the field only had 58,500 jobs to begin with.

What to Do Instead: Public Relations Specialist

If you're a people-person who thrives in a fast-paced, newsroom-style environment, a better bet in this economy might be a position as a public relations specialist. The good news? You'll still be writing. As a matter of fact, you might put together press releases or speeches to create a public image for a particular company, client, or employer, notes the Department.
The best part is that you'll be shaping the media's viewpoint in a profession that, according to the Department, is growing at about 23 percent, or by 58,200 positions, between 2010 and 2020. This may sound like a lot, but Ragan says the growth makes sense. "We're living in a world where communication is increasingly important, so companies need these workers," he says.

Click to Find the Right Communications Program.

Education Options: According to the Department, preparing for a career as a public relations specialist has similar education requirements as reporting; that is, a bachelor's in journalism or communications is usually acceptable, but so are bachelor's in public relations, English, or business.

Career #3: Desktop Publisher

You love getting on your computer to blog and post images, and if you could pay the bills with your creative output, you would. Well, before you go thinking a career as a desktop publisher is right up your alley, consider where it's headed over the next few years.
Why It's Declining: As the printing and publishing industries see an overall decline, one stream of this job's potential employers will dry up, reports the U.S. Department of Labor. And for the others that don't dry up, the Department of Labor predicts some of the desktop publisher's tasks will be absorbed by graphic designers, Web designers, and copy editors.
And while the job isn't yet obsolete, the Department is sure projecting a steep decline: The field should see a 15 percent drop overall from 2010 to 2020, going from 22,600 jobs to a mere 19,200.

What to Do Instead: Graphic Design

Don't be so glum; why not try your hand at graphic design instead? You could work one on one with clients to make images that convey a message about their products or integrate text with images for websites, ads, logos, and more, says the Department.
What's more, instead of employment opportunities decreasing by 15 percent like in desktop publishing, you'll be looking at a 13 percent increase from 2010 to 2020, says the Department, making graphic design a much better creative profession by the numbers, with 37,300 new jobs.
But why are employers hiring graphic designers? They're part of the future of advertising. "Smaller corporations and businesses are going to need graphic designers to arrest people's attention," says David Reynaldo, owner and founder of counseling website Collegezoom.us. "That's where advertising is moving, so there's a lot of growth here."

Click to Find the Right Graphic Design Program.

Education Options: If you want a shot at graphic design, you'll need to spend a little more time in school than a desktop publisher might, since according to the Department, a bachelor's in graphic design or a related field is required. If you happen to already have a bachelor's degree in another field, you could "pursue technical training in graphic design to meet most hiring qualifications," adds the Department.

Career #4: Air Traffic Controller

Do you get a rush when thinking on your feet or making split decisions? Pursuing a job as an air traffic controller could be the right fit for you. There's just one big problem: This career seems to be going the way of the buffalo.
Why It's Declining: According to the U.S. Department of Labor, due in part to federal budget constraints limiting the hiring of new controllers, the career is expected to decrease by 3 percent, roughly 800 workers, by 2020. If you think that doesn't affect your odds much, consider the fact there were only 27,000 total air traffic controllers employed in 2010.
But technological advances play a role here, too, says Ragan. "Air traffic controllers certainly will lose some positions as the industry experiences some automation over time," he says. Essentially, better tools will enable single controllers to monitor more air traffic successfully.

What to Do Instead: Airline or Commercial Pilot

Instead of going after a grinding career as an air traffic controller, consider the slightly more glamorous path of airline or commercial pilot. And don't worry, you'll still be able to geek out over how cool the radar is.
The U.S. Department of Labor projects an 11 percent growth rate and 11,500 new jobs between 2010 and 2020, which isn't jaw-dropping, but it's certainly more hopeful than air traffic control. Ragan sees the growth as a result of our constant need to travel, especially as business becomes increasingly global. "We've certainly got a lot of planes in the air," Ragan says. "And there likely will be growth in small commercial jets - the executive jet range, rather than the bigger stuff."
Education Options: More and more pilots are now earning an associate's or bachelor's degree from a civilian flying school, says the Department of Labor. Another path many aspiring pilots follow involves learning to fly in the military, says the Department.

Career #5: Farmers, Ranchers, or Other Agricultural Managers

That fresh salad or juicy hamburger you enjoy weekly has to come from somewhere, which is why for thousands of years, people have been making an honest living by farming and ranching. Problem is, the U.S. Department of Labor is seeing a decline in the profession.
Why It's Declining: The agriculture industry today is getting a bit stagnant in terms of job opportunities, and Ragan has some explanation as to why.
"The agricultural industry is increasingly becoming polarized because there are two competing trends," says Ragan. "You've got the commercialization of agriculture, meaning in order to produce very cheap food, you've got bigger and bigger farms and combines, and fewer farmers who have just a couple of acres." And that might exaplin why the Department of Labor projects an 8 percent decline and loss of a staggering 96,100 jobs by 2020.

What to Do Instead: Purchasing Agent

Take your work ethic and dedication to your craft, and channel it into prepping for work as a purchasing agent instead. What will l be doing, you ask? Well, the Department says purchasing agents evaluate suppliers, negotiate contracts, and review product quality before buying products for companies to use or resell - and some even do this for farm products like grain, cotton, and tobacco.
During the 2010 to 2020 period, this industry (which includes purchasing managers and buyers) is expected to be more robust than farmer and rancher occupations, growing by 7 percent, or 31,700 jobs, rather than declining, says the Department.
Ragan can see why there could be extra activity in this area. "Increasingly businesses are transitioning to the outsourcing model for their own products and services," he says. "So people who are good at managing third parties, developing contracts, and ensuring that the contract deliverables happen within the time, cost, and quality parameters set will be in increasing demand."

Click to Find the Right Business Administration Program.

Education Options: Like farming, you don't need college credentials to pursue this job; however, larger distributors may prefer candidates with a bachelor's who have completed some business or accounting courses, says the Department. A number of manufacturing firms like to see formal education, particularly candidates with a bachelor's or master's in business, economics, or engineering, to name a few.

Five of the Fastest-Growing Jobs in America:

Have none of the booming career alternatives above caught your eye? You might want to check out these occupations, which are among the list of jobs the U.S. Department of Labor predicts will expand the fastest between 2010 and 2020.*

• Software developer - 30% projected growth; 270,900 new jobs
• Market research analyst - 41% projected growth; 116,600 new jobs
• Medical assistant - 31% projected growth; 162,900 new jobs
• Personal financial advisor - 32% projected growth; 66,400 new jobs
• Pharmacy technician - 32% projected growth; 108,300 new jobs

* All career growth projections from the U.S. Department of Labor Occupational Outlook Handbook, 2012-2013 edition.

Next Article: Six Smart Degrees You Could Earn in Two Years »

Source(http://education.yahoo.net/articles/careers_that_are_shrinking.htm?kid=1O0L8) 

Majors That Employers Look For The Most

If you're wondering which degree to earn in college, here are ten majors that are at the top of employers' lists.

By Andrea Argueta

Let's face it. A lot goes into deciding what to study. Yes, you should be passionate about your major, but you should also want a degree that ups your employability odds upon graduation. 
And while most of us already know what we like and what we're good at, we're not as familiar with what employers are looking for.
But fret not - last year, the National Association of Colleges and Employers (NACE) surveyed employers who are members of the organization about their future hiring plans, and which degrees they would most be on the lookout for. Based off of the employers' answers, NACE put together a list of top ten bachelor's degrees employers want most.
So if you're still having trouble deciding what to study, keep reading to find out which majors have made NACE's list of top ten bachelor's degrees.

Employable Degree #1: Finance

Topping NACE's list of employers' most sought after bachelor's degrees is finance, with nearly 67 percent of companies surveyed saying that they plan to hire candidates who've studied this major.
This is really good news if you're into keeping up with the stock market, or reading financial publications like BusinessWeek or The Wall Street Journal - two activities that could be part of a finance program, says the College Board, a nonprofit organization that promotes higher education.
Click to Find the Right Finance Program.
Why Employers Love It: "As our financial system grows more complex, the demand for finance majors will continue to grow," says Bonnie Kerrigan Snyder, a private college and career consultant and author of "The Unemployed College Graduate's Survival Guide." Why? Well, students in a finance program "understand the basics of economics and how to make complicated financial deals happen."
Career Options*:

• Personal financial advisor
• Financial analyst

Employable Degree #2: Computer and Information Sciences

Coming in at number two on the NACE list is computer and information sciences, with 65.3 percent of employers from the survey saying they plan to hire students who majored in these fields. And this is no surprise, since these majors also held the second spot last year, says the NACE.
This is great news for those who can't keep away from their computer, as according to the College Board, students in this major could learn the way computer systems and humans interact in a computer science program or how to create systems for storing data in an information science program.
Click to Find the Right Computer Science Program.
Why Employers Love It: Today, businesses rely on computers for smooth business operation,  says Snyder.  In fact, Jacqui Barrett-Poindexter, chief career writer and president of Career Trend points out that technology has threaded its way through every job.
She believes computer and information science majors are in demand because "nearly every company needs computer-savvy professionals to keep pace with the company's technology needs, as well as with the dependence on network systems for global virtual operations, and security issues abound. "Those with information technology departments, or whose product development is tech-centric, need these majors, too, says Barrett-Poindexter.
Career Options*:

• Computer support specialist
• Network and computer systems administrator

Employable Degree #3: Accounting

Accounting is the third most popular bachelor's degree, according to NACE. The fact that over 58 percent of employers surveyed are planning to hire accounting majors is the reason it ranked so high. So if you're into numbers - you're in luck.
Accounting majors not only learn to create balance sheets, but they also learn to prepare tax filings, says the College Board. Students may also spend time learning to keep track of financial transactions and interpret financial performance and risks.
Click to Find the Right Accounting Program.
Why Employers Love It:  Employers value this degree because accounting majors know how to track where money comes and goes, and that is essential for business operations, says Snyder. Barrett-Poindexter agrees and says, "It's all about the bottom line, and accounting directly impacts the numbers. Virtually all employers, even those who outsource this function, value this degree." 
Career Options*:

• Accountant or auditor

Employable Degree #4: Business Administration and Management

And what major has the fourth spot on NACE's list of top bachelor's degrees? Business administration and management. In fact, 55.6 percent of employers who were surveyed said that they want to hire candidates who graduate from this program.
In a business administration and management program, the College Board says you could learn the ins and outs of controlling an organization's activities. You might even discuss case studies of issues affecting real companies. So if you enjoy leadership roles and have solid problem-solving skills, this might be a good option for you, says the College Board.
Click to Find the Right Business Administration Program.
Why Employers Love It: This degree increases your employability because "it ensures employers that you understand how their business operates and that you grasp their core operating concerns," says Snyder. Not only that but it also "prepares you to compete for a wide variety of entry-level positions."
Career Options*:

• Market research analyst
• Management analyst

Employable Degree #5: Mechanical Engineering

Ranking at number five on the list is mechanical engineering. In fact, half of employers that NACE surveyed plan to hire these graduates, making this the top in-demand engineering degree. But what does it take to pursue this degree?
Well, according to the College Board, it helps to be "a fan of science and math, a creative problem solver, and someone who likes to take things apart to find out how they work."
Click to Find the Right Engineering Program.
Why Employers Love It: In a mechanical engineering program, students develop the skills needed to help businesses improve and streamline their technological efficiency, says Snyder. Because of this, "they are central to the core technology of every manufacturing enterprise," says Snyder, making them attractive candidates.
Career Options*:

• Mechanical engineer

Employable Degree #6: Management Information Systems

Nearly half of employers are looking for these majors to fill job positions, making management information systems (MIS) the sixth bachelor's degree in demand from the NACE study.
The College Board says that if you're usually the one explaining technology to others, this might be a great fit for you. As an MIS major, you could focus on learning how to make technology work and how businesses use it.
Click to Find the Right Information Systems Program.
Why Employers Love It: Information systems students gain the knowledge needed to oversee an entire organization's technology planning process, Snyder says. Not only that, but they also develop the specific technical skills needed to implement and sustain the system once it's in place, adds Snyder.
Career Options*:

• Computer and information systems manager
• Database administrator

Employable Degree #7: Electrical Engineering

If you're a hardcore science fan and have a thing for electricity, majoring in electrical engineering might be the best way to go. This degree is in demand by 49 percent of the employers surveyed by NACE.
But the best part is that you'll learn how electricity works and come up with your own electric-powered projects if you major in electrical engineering, says the College Board. "You'll get to build things like logic circuits, processors, amplifiers, and even small vehicles and security systems," it says.
Click to Find the Right Engineering Program.
Why Employers Love It: Employers need electrical engineering majors because they are the only ones with the skills to translate the potential power of electricity into safe applications that everyone can access, says Snyder. "They literally make businesses run!"
Not only is our world powered by electricity, but many products require the expertise of electrical engineering majors to design microchips, communications systems, and medical devices, says Barrett-Poindexter. Plus, the degree is invaluable for companies incorporating the use of laser and robots to solve problems. Engineering firms, energy companies, and telecommunications organizations are a few of the types of employers who need professionals with this degree, she adds.
Career Options*:

• Electrical and electronics engineers

Employable Degree #8: Computer Engineering

Almost 44 percent of employers say they will hire those who've graduated from this major. And computer engineering not only holds the number eight spot on NACE's list of top in-demand bachelor's degrees, but it also ranked third in its list of top engineering degrees in demand.
This is great news for those who'd like to know what makes computers work, since according to the College Board, students in this degree program learn to develop computer hardware and software. But that's not all you have to like. An interest in solving math problems could be a good asset, since the College Board adds that you could spend lots of time figuring out tough math problems, and might take courses like calculus and discrete mathematics.
Click to Find the Right Engineering Program.
Why Employers Love It: "Every businessperson needs someone to call when it's time to set up a new computer network, create new business-specific software, upgrade Internet security, or just to handle an annoying Error 404 message," says Snyder. Computer engineering majors are equipped to handle all this and more and this makes them employable, she adds.
Career Options*:

• Computer hardware engineer

Employable Degree #9: Marketing

Do you enjoy watching TV commercials more than you enjoy watching TV shows? Then you might want to enroll in a bachelor's degree in marketing. Why? Because this major ranked ninth in NACE's report, with 41 percent of employers surveyed saying that they are seeking these majors.
As for what you'll study, the College Board says you could analyze past advertising campaigns and learn how to build a loyal group of customers. Learning to discover why consumers buy the things they do is also part of this program, along with consumer behavior and marketing research courses.
Click to Find the Right Marketing Program.
Why Employers Love It: "Marketing is at the heartbeat of promotion, public relations, and sales," says Barrett-Poindexter. These majors are needed because they drive traffic to a company's door, "especially in today's highly competitive environment and with the explosion of serving customers on the Internet and through social networking," she says.
Career Options*:

• Meeting, convention, or event planner

Employable Degree #10: Economics

And finally in tenth place, is a bachelor's degree in economics. Even though it comes in the last place of NACE's list of top in-demand degrees, that doesn't mean its demand is low. In fact, a whopping 40.3 percent of employers from the survey say they will hire economics graduates.
So what will you study in an economics program? Well, according to the College Board, you'll learn about economic systems and models, and may take courses like international trade and econometrics. You might also have to compare Republican and Democratic tax plans and play investment simulations games with fellow students, says the College Board. Oh, and let's not forget reading up on the news every day.
Click to Find the Right Business Program.
Why Employers Love It: "Those who understand economics have an advantage in understanding the bottom-line fundamentals that drive all business success," says Snyder. And employers like that. "It makes them irresistible hires," she says.
Career Options*:

• Management analyst
• Loan officer

* All career options listed are from the 2012-2013 U.S. Department of Labor Occupational Outlook Handbook. The Department of Labor cites the associated degrees as common, required, preferred, or one of a number of degrees acceptable as preparation for the potential career. In some instances, candidates might require further schooling, professional certifications, or experience, before being qualified to pursue the career.

Next Article: Flexible Degrees That Busy People Can Earn »

Top Five Degrees for In-Demand Careers

Check out these five degrees that could help you prepare to pursue an in-demand career.

By Tony Moton
To better meet the needs of students who want to improve their hiring potential, colleges have started changing course - and their courses, too.
In fact, some schools are now tailoring their education programs to focus on giving students more employable job skills, with the hope of aligning them with in-demand careers, according to Esther Hugo, a spokesperson for the National Association for College Admission Counseling (NACAC), a national trade organization for college counselors and admissions professionals.
"What I see is colleges making a concerted effort to offer things that would lead directly to jobs," Hugo says. "There is more pressure for colleges and universities to show that their students are going to be employable."
And while there are no guarantees that earning a degree will land you a job, it could help put you in the right direction.
Still intrigued? Check out these five degree options that are connected to careers with high potential job growth.

---

Degree #1 - Bachelor's in Health Care Administration
In-Demand Career: Medical and Health Services Manager

What does it take to make a hospital or health care facility run smoothly? How can health care providers enrich the experiences of patients in their care?
These are the kinds of questions you might answer during a health care administration program, which generally includes courses in accounting, human resources administration, law and ethics, and hospital organization and management, the U.S. Department of Labor reports.
What's more, "prospective medical and health services managers have a bachelor's degree in health care administration," says the Department of Labor. Earning a master's degree in an area like health services, public health, and business administration is also common.
Click to Find the Right Health Care Administration Program.
Why are medical and health services managers in demand? Medical and health services managers are projected to see a 22 percent increase in hiring numbers between 2010 and 2020, due to an aging population and people remaining active longer, notes the Department.* This could explain why Meg Benke, provost and vice president for academic affairs at State University New York, Empire State College, is seeing a greater number of programs in health care administration. "Education institutions now do market research, and we don't start a new program unless there is a need," says Benke.

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Degree #2 - Bachelor's in Business Administration
In-Demand Career: Financial Analyst

If you have dreams of moving up the corporate ladder, earning a bachelor's degree in business administration could help you get one step closer.
Hugo says schools are responding to the popularity of business programs by making sure students are working on skills sets they'll need when looking for employment. "Programs are showing students how to construct business plans, allocate resources, and develop budgets," Hugo says. "Right now, you see so many startups, and people who have those skills are in high demand."
And what's one in-demand career you could prep for with this degree? According to the U.S. Department of Labor, a bachelor's degree in business administration is one option to pursuing a career as a financial analyst.
Click to Find the Right Business Administration Program.
Why are financial analysts in demand? "A growing range of financial products and the need for in-depth knowledge of geographic regions are expected to lead to strong employment growth," says the Department of Labor. Just how much employment growth are we talking about? A whopping 23 percent between 2010 and 2020.*

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Degree #3 - Bachelor's in Communications
In-Demand Career: Public Relations Specialist

In today's age of the blogosphere and social media, communications degree programs recognize the importance of communication skills when it comes to employment opportunities.
According to the College Board, an education organization that administers tests like the SAT, a bachelor's degree program in communications may offer courses in advertising and marketing communications, media analysis and criticism, public speaking, and public relations writing.
And, "In a class on public relations writing, you'll learn how to create and promote a public image - of an organization or a person," says the College Board. This is a great skill to have - especially if you're interested in pursuing an in-demand career as a public relations specialist, which generally requires a bachelor's degree in public relations, communications, or journalism, says the U.S. Department of Labor.
Click to Find the Right Communications Program.
Why are public relations specialists in demand? Thanks to the growth of social media and the need to maintain an organization's reputation, the Department of Labor projects public relations specialists to see a 23 percent spike in jobs between 2010 and 2020.*

---

Degree #4 - Bachelor's in Computer Science
In-Demand Career: Software Developer

Do you want to earn a degree that could help you pursue your interest in computers, electronic gadgets, and technology? Starting a bachelor's degree in computer science might be a step in the right direction.
Why? Well, let's take a look at the commonly offered courses, per the College Board. For a computer science major, it lists courses like artificial intelligence, software engineering, and digital system design.
What's more, the College Board says "Computer science majors learn about computer systems and the way humans and computers interact from a scientific perspective."
So, what kind of in-demand career is this degree ideal for? Software developer is one option, as people in the career generally have a bachelor's degree in computer science, software engineering, or a related area, notes the U.S. Department of Labor.
Click to Find the Right Computer Science Program.
Why are software developers in demand? Because computer systems are built into our everyday gadgets - like cell phones and tablets - software developers are projected to see a 30 percent job growth from 2010 to 2020, according to the Department of Labor. Other reasons for growth in this field include concerns over cyber security and the technological advances in the health care industry.*

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Degree #5 - Associate's in Nursing
In-Demand Career: Registered Nurse (RN)

Do you want to pursue a degree that could help you help others combat and recover from sickness and injury? Consider earning a nursing degree.
The U.S. Department of Labor says nursing education programs generally include courses such as nursing, psychology, social and behavioral sciences, anatomy, as well as classes in liberal arts.
And an associate's degree in nursing, plus passing the National Council Licensure Examination, is one common route towards pursuing an in-demand career as a registered nurse, notes the Department of Labor.
Click to Find the Right Nursing Program.
Why are RNs in demand? The Department projects the number of RNs will increase by 26 percent from 2010 to 2020, thanks to several factors, including technological advancements that will enable the treatment of more patients.* "Nursing is one of the fields that have been identified as having demand across the board," says Benke.

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*Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook, 2012-13 Edition, at http://www.bls.gov/ooh/home.htm (visited May 16, 2012).


Source(http://education.yahoo.net/articles/degrees_for_growing_careers.htm?kid=1LSB1)

What you need to know about home refinancing

Zillow – Fri, Jun 29, 2012 3:42 PM EDT

A mortgage is the biggest kind of debt most people will ever face. It is also long-term debt, since the average home loan lasts for 15, 20 or 30 years.

That's why on an investment as big as a house, smart homeowners are constantly looking for ways to minimize their debt and maximize equity, which is where refinancing comes in.

Refinancing simply means getting a new mortgage to replace your old one with the goal to reduce monthly payments, lower your interest rate, or to take cash out of your home for other purchases (e.g., remodels, college, cars, and vacations).

[Ready to refinance? Click to compare mortgage rates now.]

According to the Mortgage Bankers Association, the average American refinances his or her mortgage every four years – and with good reason, since refinancing can result in some pretty sweet savings.

Main reasons to refinance:

Get a lower interest rate – This is the most popular reason to refinance. It simply means you are swapping a higher interest rate for a lower one, which can save you considerably on your monthly mortgage payments. Example: You have a $250,000 mortgage with a 30-year fixed rate of 6 percent. Your monthly mortgage payment is approximately $1,500. If after four years of owning your home you refinanced to a mortgage with an interest rate of 4 percent, your monthly mortgage payment would be $1,300 – a savings of $200 per month.

Switch your mortgage type – Suppose you have an adjustable rate mortgage (ARM) that offered great low introductory rates, but the rate is about to increase. By changing to a fixed-rate mortgage, you will have the comfort of locking into a rate that won't change, as well as getting a consistent monthly payment. Conversely, if you have a fixed-rate mortgage, but want the attractive low rates an ARM offers, you could switch to an ARM.

[Click to compare refinance mortgage rates now.]

Build home equity faster – Perhaps your financial standing has changed and you can pay more toward your monthly mortgage payments. Example: Depending on how long you have had your loan, by refinancing from a 30-year fixed to a 15-year fixed, you could greatly reduce your long-term interest charges and pay off your home more quickly. Or, if you didn't want to refinance, you can pay against your principal by making additional payments each month.

Take cash out – Called cash-out refinancing, you basically pull equity out of your home in the form of cash, but you add to your principal in the process. Example: Your home is worth $500k, you owe $300k on your mortgage and you have $200k in equity. By refinancing your existing loan, you take $100k out of your home in cash and then get a new loan – hopefully with a lower interest rate. Your mortgage will look like this: $500k home value, $400k mortgage and $100k in equity.

Is refinancing right for you?

Before you contact a lender, make sure it makes sense for you. Ask yourself these questions:

How long will I be in my home? The general rule is that unless you are planning to stay in your home at least another five years, then refinancing may not make sense. This is because a refi usually carries closing costs and the costs could outweigh the benefits. You usually "break even" at the five-year mark, which means you have paid for the costs to refinance.

Is there a prepayment penalty on my current mortgage? Since many mortgages carry a penalty if you pay off your existing mortgage, find out if you will be charged a "prepayment penalty." The amount varies, but it can add up to several months' worth of interest payments. Ask your lender.

What are the costs of the new mortgage? Lenders almost always charge fees for taking out a new loan. These can add up to an average of $5,000 to $10,000, depending on the size of the loan. Charges include application fees, appraisal, origination and insurance fees, plus title search, insurance and legal costs. Unless your new rate is at least a half a percentage point lower than your current rate, the fees may eat up your potential savings.

Will my tax savings be reduced? If you claim mortgage interest on your tax return, refinancing to a lower rate will mean that you'll have less mortgage interest to deduct. That means you might have to check with your tax advisor to see if your overall savings will be increased if you refinance.

Can I build equity faster? Opting for a shorter-term mortgage might make sense for someone who can now make greater monthly payments than when they originally financed. Example: A $350,000 mortgage over 30 years would mean payments of just under $1,700 at rates at 4 percent. A $350,000 mortgage over 20 years at a 3.25 percent interest rate would mean a monthly payment of just under $2,000 before taxes. The savings in interest between the 30- and 20-year notes is about $125,000.

[Think it's time to refinance? Click to compare refinance rates now.]

Can I improve the features of my ARM? These products have protective caps that limit how much your payments can increase in any given year over the term of the loan. It might be a good time to set new terms that you find more favorable.

Can I reduce my monthly payments? For those whose cash flow has changed, refinancing for a longer term will likely lower your monthly payments. This will increase interest owed, but it could provide relief given a new set of financial considerations.

Can I cash out some of my equity? Taking out a new mortgage with a larger principal could provide a cash infusion for a major project or other needs. The advantage is that you can get a lower interest rate than if you used a credit card or an unsecured loan for the cash. This makes sense if the current interest rate is lower than your existing rate.

Refinancing helps many homeowners stay in their homes for less money, or gives them the cash out they desire, but just make sure you do the math and understand how the new loan will affect you.

Source( http://realestate.yahoo.com/news/what-you-need-to-know-about-home-refinancing.html)

6 Money Mistakes Everyone Makes

By Oprah.com | Financially Fit – Mon, May 7, 2012 8:45 PM EDT

Photo: ThinkstockBy Jack Otter

Money Mistake #1: You Used Your Debit Card to Pay for Gas, an Appliance, a Rental Car, Reserve a Hotel Room or Anything Online

Buy a coffee at Starbucks with a debit card and $2.01 will be deducted from your checking account--end of story. But fill up your car for $30 and the gas station might put an $80 "hold" on your checking account for a couple of days until the station reconciles its accounts and transmits your purchase to the bank. While that money is locked up, you can get hit with overdraft charges for subsequent purchases--even if you have enough money in your account.

The worst move is to check in to a hotel with a debit card but pay the bill with a different card. The debit-card company might keep the hold for as long as 15 days, unaware that you paid with another card. Spend four nights in $250 hotel room, and, when the phantom incidentals are added in (a hotel might tack on an estimate for anticipated minibar or room service charges to the "hold"), you could lose access to $1,100 of your own money for half the month.

Solution: Use a credit card--which also comes with protections such as extended warranties, travel insurance and the ability to withhold payment if you don't get what you paid for. Just remember: As found in an experiment at MIT, people using credit seem to be willing to pay far more than they would if they use cash. If you're already carrying a balance, you may be paying the equivalent of an overdraft fee every month in interest charges. In that case, your best bet is to cut up the cards and stick to debit until you've paid off your entire balance.

RELATED: 10 Ways to Save Money on Your Summer Vacation

Money Mistake #2: After a Financial Crash, You Transferred Your Savings to "Safe" Investments

There are three kinds of risk: market risk, inflation risk and emotional risk--and every investment is subject to at least one of them. In the past few years, most people have come to understand market risk. Inflation risk involves the purchasing power of a dollar as it shrinks over time. For example, in 1971, you could get a Cadillac for around $7,000; today an Escalade goes for $45,000. Emotional risk may be the most devastating, and it's the hardest to control. You're probably sick of hearing investment experts like me tell you not to panic when the market hits a rough patch, but here's why we feel so strongly.

The stock market started to get really scary around October 2008: The Dow fell nearly 700 points in just one day. No wonder investors dumped $31 billion in stock funds over the next five months, right before the market bottomed. How'd that work out for investors who panicked? According to an analysis by Vanguard for this article, if everyone had put that money in cash--savings accounts and money markets--it would be worth $31.1 billion as of March 2012. If all those investors had put it in bonds, it would have done a little better-growing to $38 billion. Had it just remained in the market? It would have grown to $63 billion. So if you sold your stock funds in the teeth of the financial crisis and locked in your losses, your account hasn't grown (in fact, you may have lost purchasing power, thanks to inflation). If you stuck it out, you doubled your money.

Solution: You've heard it before: You need stocks to ensure a well-funded retirement. One option for nervous investors is to use a target-date fund, which will automatically reduce (market) risk as you get closer to retirement. Vanguard found that target-date fund investors were less likely to sell in the bear market than those who owned pure stock funds. And women, according to Vanguard, were 10 percent less likely to sell than men, which jibes with other studies that have found that women trade less and therefore perform better.

Money Mistake #3: You Forgot What Pampering Yourself Really Means

Think back to the first time you experienced a favorite splurge--try to recall something that so lit up the pleasure centers of your brain it is still seared in your memory. Now think about the last time you spent money on the same thing. Not so memorable? It's called "hedonic adaptation," and it's why, no matter what we have, we always want more. Expensive coffee every morning isn't a treat; it's a habit.

Solution: Step one: I know you've heard this before, but you need to create a budget. By putting your priorities down on paper, and funding the top priorities first, you can prevent yourself from paying for your barista's retirement instead of your own.

Step two: Reward good behavior. One of the reasons it's so hard to be a disciplined saver is that it's much easier to imagine the pleasure you'll get from that Frappuccino today than to picture what that $4 will be worth 20 or 30 or 40 years from now. Besides, what will you spend it on then anyway? Will caffeine still be legal? Reward yourself for virtuous saving behavior by splurging with 5 or 10 percent of money set aside for savings. But spend it only on something you don't buy all the time. You'll associate the reward with the saving, increasing the odds you'll continue to be disciplined.

Money Mistake #4: You Started to Pay Extra on Your Mortgage to Pay Off Your House Early

Paying off your house early sounds like a financially smart move. And it's hard to put a price on peace of mind. But a study by two University of Texas professors and a Federal Reserve banker found that diverting that money instead to a 401(k) was a better move. It's a long academic study, but the key is this: You pay off your mortgage with after-tax dollars, which means that for every $1 you make, only 70 cents or so goes to the bank.

Solution: Contribute pre-tax dollars to your 401(k), so the full buck goes in. Make that $1.50 if you get a company match. As that money compounds over the years, you come out far ahead.

RELATED: Peter Walsh's 7 Secrets of a Master Organizer

Money Mistake #5: You Paid Too Much in Fees

It happens so often you may be numb to them by now: the carry-on-bag cost to the FCC line charge to the inconvenient "convenience fee" for ordering your movie tickets online. But here are a few entirely unnecessary fees that can really add up.

Prepaid cards: To take one example, the Rush Unlimited Card from Visa charges $3.95 to $14.95 for signing up, depending on which design you choose. (Seriously.) A monthly fee of up to $7.95, $2.50 for a cash withdrawal, and 50 cents just for checking your balance. Want a paper statement? That's another buck. Do you avoid carrying cash for fear you might lose it? Prepaid cards guarantee you will.

Solution: If you have enough money to load a prepaid card, you can open a savings account at many credit unions or an online bank such as ING Direct. There is no minimum. There are no fees. You get a free debit card. And instead of you paying the bank, the bank pays you a little bit of interest.

Layaway: There's something appealing about the return of the old-fashioned layaway--you don't own the item until you've actually ponied up the cash. But several large department and discount stores charge fees of $5 to $10, plus cancellation fees of $10 to $25.

Solution: Get an envelope, put your payments in it every two weeks, and once you have enough to pay for the item, head to the store.

Mutual funds: There may be no single fee that will take more of your money over your lifetime than the expense ratio in your mutual funds. When writing my book, I had to run the math on two different calculators, because the numbers were so big I was sure I'd made a mistake. All funds charge fees, but by using low-cost index funds, you'll save tons of money.

Here's an example using an SEC calculator: Lisa is 30 years old, and she and her husband have $40,000 in stock funds their 401(k)s. If the funds charge the average expense ratio of 1.3 percent, they will have $270,000 at age 65, assuming 7 percent annual returns and no more contributions. If they invest instead in a low-cost index fund that charges 0.07 percent, and earn the same return, they would have $417,000 at retirement. That 1.3 percent eats up $170,000 over three decades. Expense ratios are the single best indicator of returns: The lower they are, the more you'll make.

Solution: Log on to your 401(k), check the expense ratios on your funds today, and if you have the option, switch into index funds. If you have an old 401(k) that doesn't offer index funds, consider rolling it over into an IRA, where you get to choose the investments.

Money Mistake #6: You Fell in Love

Love can cause money problems--but not the ones you might expect. Most individuals have an internal financial math that makes their budget work: They cheap out on the things they don't care about and splurge on things they value. For instance, you may be perfectly happy to keep your grocery bills low by eating cereal eight times a week so you can splash out on clothing. Then you fall in love with a guy who lives in blue jeans and flip-flops but would never eat day-old bread. It's easy to start sharing each other's pleasures, but hard to give up our own. So you take his wardrobe up a notch, and he buys truffle salt at the grocery store...and as a couple, you pile on the new expenses while abandoning your former budgeting strategies.

Solution: Asking partners to stop doing the things that make them happy is a great way to build resentment and encourage financial infidelity. So instead, start with the fun stuff: Come up with a list of what you both value most and together build a budget that will help you achieve those goals. During that process, you'll each have to make sacrifices, but it won't feel as if your partner is living it up while you are being denied.

RELATED: 10 Men You Should Put in Your Rearview Mirror, ASAP

Jack Otter is the executive editor of CBS MoneyWatch.com and author of new finances-made-easy book Worth It...Not Worth It.

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Source(http://shine.yahoo.com/financially-fit/6-money-mistakes-everyone-makes-004500205.html)