The Blue Sweater, Creating Social Change, Leadership & Philanthropy Redefined

 Acumen Fund - Blue Sweater

In reading the poignant memoir The Blue Sweater written by Jacqueline Novogratz, I can break it down into three words - Power, Poverty and Leadership.

Novogratz pioneered a new type of non-profit organization, naming her's "The Acumen Fund", which is now a leader in the landscape of social enterprise.

She recounts powerful stories that show the importance of bringing market rigor, feedback loops, and accountability to poverty reduction efforts.

She discusses how she spearheaded drastic change in traditional philanthropic efforts for both local and international aid.

I took a lot away from this book about Leadership, specifically the kind that is needed today, and what it will look like in the future.  From The Blue Sweater:

The entrepreneurs who will help us create the future for all people are individuals who exist in every country on earth. ... They are the ones who see a problem and don't stop working on it until it is solved. They refuse petty ideologies and reject trite assumptions.They balance their passion for change with an ability to get things done. Mostly, they believe fundamentally in the inherent capacity of every human being to contribute.

At the same time, today's most effective leaders have a pragmatic bottom-line orientation that results in focusing on measuring what they accomplish, building institutions that can sustain themselves long after their founders are gone.  They world will not change with inspiration alone; rather it requires systems, accountability, and clear measures of what works and what doesn't. Our most effective leaders, therefore, will strengthen their knowledge of how to build organizations while also having the vision and heart to help people imagine that change is possible in their lives.

I highly recommend this book to anyone who has interest in Social Change, Finance, Africa, Philanthropy, Humanity, Microfinance, Entrepreneurship, Business, Non-Profit, Venture Capital, Human Resources, Leadership, Management, Development, Organizational Development, Poverty, Economics or for someone who simply cares about improving conditions for those in need.

So taxpayers paid for their bailout and now the banks are paying their execs bonuses that are in some cases equivalent to the sum that the Fed gave them....So using basic logic, taxpayers are essentially paying the bank execs bonuses. My question is, should there be legislation to put an extra tax on bank bonuses? Discuss....

Please go on to read this New York Time's Article

A Full Deck of [Credit] Cards....Trends of The Great Recession

This economy has made credit institutions wiser to the benefits card users relied on in the past and have exchanged them for 'cash-back' gimmicks or 'point systems' that will offer you a $10 flashlight as a reward for paying $100's in transaction fees and finance charges. Woohoo.

I did some of my own research, scouring newspapers, terms & agreements, fee schedules and even blogs to find out what the trends are and what the best options are for normal card users who want to transfer high interest balances and get a hassle free low interest deal. I'll tell you this, there aren't that many to chose from anymore.

Trend 1: You can no longer find 12 month 0% APR promotional offers for new purchases and balance transfers. I've found only 1 during my search. See Below. You are going to find 6 month promotions and an occasional 9 month promotion if your credit is stellar.

Trend 2: Say goodbye to $0.00 Balance transfer fees, these are always between 3% - 5% with a minimum of $10. Here's an example - You want to transfer $2,000 to a new card and you have a 3% transfer fee, that's $60! $4,000 is $120+.

Trend 3: You MUST READ TERMS & CONDITIONS because it seems every single company has some serious differences in what they are offering and the perks they offer can end abruptly. If you pay your monthly payment one day late, on the second month, you can easily lose your intro APR and be assigned the DEFAULT RATE of 29.9% - This is NOT A GOOD PLAN, EVER.

An Exception To The Rules!
AMERICAN EXPRESS CLEAR CARD -
0% APR for 6-12 months depending on credit and 12% - 17% after one year.
Late Fee: $0
Overlimit Fee: $0
Cash Advance Fee: $0
Balance Transfer Fee: $0
****HOWEVER******
There is a 3.99% Interest rate on all balance transfers.

CITIbank Platinum Select Mastercard
0% APR for 6-9 months, depending on credit, then 12% - 20% after one year.
Balance transfer fee: 3% of each balance transfer; $5 minimum.
Cash advance fee: 3% of each cash advance; $5 minimum.
Late fee:
• $15 on balances up to $100
• $29 on balances of $100 up to $250
• $39 on balances of $250 and over
Over-the-credit-line fee: $39

From what I've learned over the years:
If it sounds too good to be true, it is.
The shiny-er and fancier the actual card is, the more you should speculate.




More information to come later.