European Stars and Stripes (Newspaper) - May 06, 1990, Darmstadt, Hesse                                The stars and stripes business news runaway budgets can be corralled it probably comes As no Surprise that the  cause of arguments among couples is Money or to be More precise the Lack thereof. Teresa Quandt who has run personal Finan Cial management classes at Rhein main a West Germany for the past three years has mediated her share of the disputes. Her goal to make families better financial planners. Most  who come to Quandt classes at the Rhein main family support Cen Ter arc already in financial Straits but she said the majority can be helped to improve. Taking the financial cure does t have to be painful it just takes a willingness to learn from mistakes. Quandt said the three biggest financial mis Steps made by military families Are a lot like those made by other americans not knowing where their Money is spent misusing credit and not saving enough Cash for emergencies. Quandt has some tips in each category. First on finding out where the Money goes she recommends keeping a daily log. It s a pains taking procedure but absolutely necessary be fore a family can adequately budget its re sources. The Best approach is to get a receipt for Ever Purchase no matter How Small and drop All of the receipts into a Baskett Home. All family Mem Bers must participate. Atthe end of the Day or week one family member enters the results in a Ledger. Randy Mcciain Quandt said the exercise often results in sur Prises because most families Don t have a hand Leon where their Money truly goes. The next step is to make a budget and stick tit Quandt said. She suggests a flexible plan that mixes Short and Long term goals. I Don t believe you can Pound into some one s head that they have to save x number of dollars and they can t have any fun until then Quandt said. A savings plan should take care of the necessities and allow for a Little pleasure like eating out or taking Short trips  it might take a family a Lille longer to reach its goal this Way but More people Are Likely to stick with a savings plan if it s not a completely bitter Pill. On credit Quandt has these simple rules. Instalment payments including car payments should not exceed 15 to 20 percent of a family guaranteed monthly income. Also families with Only one spouse on Active duty should be particularly wary of counting on the other spouse s Job As a continuing source of income. If the military spouse were transferred that second income might disappear. Military families about to undergo a Perma nent change of station often fall into this trap Quandt said. A wife who held a steady Job in the states joins her husband on a european tour for can Isle and learns that work in a foreign coun try is hard to come by. Suddenly the two income family that live comfortably in the states finds itself strapped for Cash overseas. Quandt suggests any monthly savings plan that s Well thought out can guard against such sudden shifts in Fortune. Savings should include a Rainy Day fund of Between two months and six months take Home pay she said. Keep in mind big emergencies such As Job loss and the smaller ones As Well. For example a death in the family might require an unexpected trip to the United states she said. The Best news is that service members in Europe arc starting to get the message about taking care of themselves financially Quandt  three years of working at Rhein main Quandt said she s seeing a greater awareness of How important it is to save. And she s getting fewer repeat customers. The stars and stripes savings Bond plan offers tax break by Vincent Del Giudi Leupi business writer Washington it May be time to take another look at . Savings Bonds a patriotic investment that Uncle Sam has worked Long and hard at making More attractive to americans of All walks of life. With an Eye to sometimes staggering College costs the government has added another new feature to series be Bonds once considered stodgy and old fashioned. Savings Bonds purchased after dec. 31, 1989, Carefree of Federal income tax if redeemed to pay for Tui Tion at colleges universities technical institutes an vocational schools. Estimates Are that the average Cost for a single year of higher education by the year 2006 could Range from $17,000 to As High As $37,000," the Treasury depart ment said. While family incomes also May increase for most americans Only a savings program begun today can make the dream of higher education a Reali  Bonds Are already free of state and local taxes and pay an interest rate tied to the yield on five year Treasury notes. The College savings Bond plan stems from a 1987bill introduced by sen. Edward Kennedy d-mass., and similar legislation introduced in 1988. Here s How the plan works the Bonds must be purchased by those a.,years and older and used for their education education of their dependent children. Bonds can be issued m the name of a child. Anno when redeemed the series be Bonds must offset by qualifying tuition and fees for a full tax Hli room and Board Are not considered qualified a tonal expenses the Treasury said. Cauca. To earn the full Benefit the Holder s income Earth time of redemption must be no More than $60 0 8 f taxpayers filing jointly and no More than $4o inf single taxpayers. I0 single taxpayers who earn More than $60 000those filing jointly who earn More than $90 000 Arenn eligible. Those at salary Levels in Between Are Elii Ifor partial benefits. 6 us the salary ranges Are based on 1990 figures am will be adjusted for inflation. 8 s and the Bonds can always be used for needs other tha College tuition but the tax break will not apply. Series be Bonds Are available in denomination $50, $75, $100, $200, $500, $ 1,000, to 000 an$10,000, with the Purchase Price equal to half the de nomination. For example a $500 Bond costs $250 Bonds Are guaranteed to earn interest for 30 Yea Sand to pay the face amount in at least 12 years. Spec. 4 Janson West of the 3rd in 1st aviation regt in Katterbach West Germany completes his resume before getting in line to attend the annual getting the jump on a jobs a Scott a. Miller non commissioned officers association Job fair in Heidelberg Friday. The fair which was held Friday and saturday Drew record crowds. Success formula has t changed Ujj by John sunni Flap business analyst new York it still is True that the surest Way tothe top of a Large american Industrial corporation is to find a relatively Low level Job and work your Way up. The myth created in recent decades is that it s no More common to move into the top Job by bouncing from one company to another eventually leveraging yourself into the chairman s office. But Eugene Jennings professor emeritus of manage ment at Michigan state University said that More than 50 years of research proves differently. Examining his own research All the Way Back to 1939, Jennings said it still is far More common to name a chief fro within the company. Jennings who pioneered so called mobility studies said that three out of four individuals named to the top spot at their company in the 1980s were what he Call natives compared to Only 48 percent in the decade of the 1960s. Jennings research attempts to gauge How easy or difficult it is to make it in  because of this goal the professor excludes from his research the founders children of founders and other privileged elites who Rose to the top spot not so much by what they knew As who they were. With these exclusions Jennings was Able to concen trate on mobility patterns and Trace the most typical routes to corporate Success. He found that in every category he defined natives were More Likely than what he called migrants to Hea America s Large Industrial corporations and that the pattern is becoming even More pronounced. He found for example that natives outscore migrants in every age group those who achieve Cor j pirate stardom at the age of 49 or younger to late bloomers who reach the top at age 58 or older. In spite of what some executive recruiters might like to hear he found that even when people from outside the company assume the top jobs they Don t do so without first becoming subordinates for a Short while and working their Way up from  a and experience remain extremely important in naming a chief. The widely held notion that chief executive officers Are younger these Days is also a myth. To illustrate since the 1960s, the average age a which chiefs Are appointed has risen steadily and is now More than 58 years. In that time the number of younger chief executives has  is a myth too Jennings said that corporate boards of directors turn to migrant chiefs when the company is in trouble. No he said they turn to natives l be facts suggest older experienced Home grown Chicks Are the most treasured  popular notion is that More chiefs of . Industrial companies have had global experience to better to Deal with the emerging global Economy. � some extent that impression is  found that few chiefs have had the experience of living and working abroad for the company. Body Huml