The Salina Journal from Salina, Kansas on May 31, 1998 · Page 20
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The Salina Journal from Salina, Kansas · Page 20

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Salina, Kansas
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Sunday, May 31, 1998
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Page 20
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tHE SALINA JOURNAL Money PERSONALS/ B7 SALINA AIR FARES/ B7 BRIEFLY AT THE WATERCOOLER Presbyterian Manor duplexes already sold '.''• Seven duplexes under construction by Salina Presbyterian Manor are already sold, although they aren't expected to be complete until late summer, said Carolyn Money, director of administrative services for the retirement living center. There are 14 two-bedroom, two- bath units in the $1.5 million project on Nova Court in far east Salina, she said. ' :* ; The units are for people who want independent living, but who are planning for the future," she Sajfl. "They don't want to worry a&mt home upkeep or lawn main- tetiance." •• ""Residents have access to the retirement center's medical and so; cial services, which they can use as much or little as they need, she said. Each unit is linked to Presbyterian Manor's nursing station. ?."Once they move here, they never have to move again, other than within the continuum of care levels we provide," Money said. Presbyterian Manor has 40 «5|es at 2601 E. Crawford. Hi-Plains Co-op to jifase Lenora facilities *3|OLBY _ Hi-Plains Co-op will *e£se the facilities and operations ofthe Lenora Mercantile Association in Norton County, effective Friday. The co-op operates similar facilities in Colby, Dresden, Gem, Hpxie, Jennings, Ogallah and Selden. Duckwall-AIco marks 18 percent gain ABILENE — Duckwall-AIco Stores Inc. saw net income jump more than 18 percent in the first quarter of 1998, the company announced this week. The company has had 21 consecutive quarters of year-to-year earnings growth. Diluted earnings per share also increased by 18 percent to 20 cents per share. The Abilene-based retailer opened 21 stores during the first three months of the year, the most ever in any quarter. Seminar to focus on financial management " The Regional Workforce Center will conduct a three-part seminar, "Financial Management for the Non-Financial Manager," from 5:30 to 7 :30 p.m. on Monday, June 11 and June 18 at the Salina Area Chamber of Commerce, 120 W.Ash. I -*For details, call the chamber at ;';827-9301. Electric cooperative members OK merger CLAY CENTER — Members of C&W Rural Electric Cooperative arid PR&W Electric Cooperative have voted to approve consolidation. Effective Jan. 1, the new coop- •-erative will be named Bluestem Electric Cooperative, with head*' qujirters in Clay Center. ^C consultant's study indicates 1^ merged cooperative will save SjSj million over a 10-year period ! tEOBough consolidation. ^he cooperative will serve . about 6,100 customers. »*^ From Staff Reports ^STAYING AHEAD Listen to the boss The job search firm Exec-U-Net found in a survey that having contacts inside and outside a company is the most important thing an aspiring executive can do to get a promotion. Another way to get ahead is to seek assignments that are important to the boss. Environmental package United Parcel Service is using reusable envelopes for its overnight letter packages that have a second strip of adhesive and a special flap to close the package a second time. UPS says it may extend the innovation to larger packages. Anonymous donors I, Ever notice a list of donors to a school or arts ceti- ter, and see the word "Anonymous" attached? r The American Benefactor magazine points out. that some anonymity may be used to mask an unsavory or illegal source of the money. Cliff Powell waters the lawn on his lot In Cedar Creek, Sallna's first new mobile home park In 20 years. The new subdivision provides larger lots than othenmi bile home parks. Powell and his wife, Dolly, moved to the development from Mesa, Ariz., a month ago. A place to call home New manufactured home park fills niche in Salina housing market By CHAD HAYWORTH The Salina Journal While it is the city's first new manufactured home development in two decades, don't call Cedar Creek a trailer park. "A lot of people still conjure up a bad image when you say trailer park," said Jeff Nelson, sales manager at Melvin Homes of Salina, Cedar Creek's developer. "In many cases the manufactured homes of today are as good or better-built than stick- built homes." The 38-acre development is near Schilling Road and Interstate 135. The development will have larger lots and will accept only brand-new homes. Many of the lots are designed so the side of the home, rather than the end, faces the street. In addition, every home must have an attached carport and front porch. "It gives the appearance that these homes are more permanent," Nelson said. "While technically it is possible to move one of these homes after it's been set, we anticipate that most of our homes will stay where they are." As in most mobile home communities, residents will own their home, but lease the ground where it sits. Lots will lease for $170-$180 a month, about $35 more than most Sali- "We anticipate that most of our homes will stay where they are." Jeff Nelson Melvin Homes sales manager na parks currently charge. While there are a handful of homes already on Cedar Creek, Nelson said he anticipates it will take a year or so to finish out the ISO-home development. "The weather has slowed us down some this spring," he said. "In the next couple of weeks, I hope that we can get in here and finish out several lots each day." City planner Roy Dudark said Cedar Creek goes beyond the minimum municipal requirements for a manufactured home development, largely on the recommendations of a Michigan- based planner whom Melvin Homes hired to do the design. Dudark said city inspectors do find some problems from time to time at some of the city's older trailer parks, particularly with sewage and water systems. "Because the (federal building standards) didn't take effect until 1976, you occasionally find an older home that doesn't meet our minimum housing codes," he said. Dudark said he doesn't anticipate problems at Cedar Creek. "This is still an evolving industry," he said. "Its image is improving. The new units are typically built pretty well." While many new manufactured housing developments meet resistance from neighboring subdivisions, Cedar Creek has not had problems, Dudark and Nelson said. "Before we started, we bought a lot in Country Oaks (the development immediately north See HOUSING, Page B7 JANE BRYANT QUINN . The Washington Post Kansas is among states that require schools to teach personal finance NEW YORK — When I went to junior high school, back when dinosaurs roamed the Earth, we had three required "life skill" courses: hygiene (bodily health and where babies come from); home economics (cooking and sewing, for girls only); and shop (sawing and sanding, for boys only). They fit the world as we knew it — before porn on the Internet, Chinese takeout and television's "This Old House." In the world as we know it today, kids still need hygiene, although perhaps in the fourth grade. The other skill at the top of my list is money management. Not enough young people have a clue. Mandated courses of any sort, including courses on life skills, aren't popular with the schools today. Fourteen states used to require that students study personal finance, said Dara Duguay, executive finance is life skill needed by students director of JumpStart in Washington, D.C., a year-old coalition of organizations promoting the idea. A recent survey shows only seven: Illinois, Florida, Kansas, New Hampshire, New York, Pennsylvania and Virginia. Money management is still being taught in other states. But it's usually by local option or as a student elective. Often, the course is part of a business track, taught only to students not going on to college. College students are left to pick their knowledge out of the air. Only about 10 percent of students learn about personal finance in school, Duguay told my associate, Kate O'Brien Ahlers. The older generation of educators may not see the point. They grew up when personal finance was easier. Credit cards weren't ubiquitous, employees weren't responsible for their own retirement plans and stock market investing wasn't as common. They learned how to manage money by doing it — starting simply and adjusting to innovations as they came along. But young people today are plunged into a world of options from the first day they walk out of school. Credit cards or debit cards? Buy a car or lease one? Cash value insurance, term insurance or none at all? Which mutual fund for your 401(k)? And what, by the way, is a mutual fund? Without even rudimentary knowledge, how can they possibly make intelligent choices? The consequences of ignorance are severe. If you mismanage your bank account, and move, a new bank may not accept you. If you haven't budgeted, a credit card can plunge you into debt. When it comes to money, trial-and-error isn't the best pedagogy. The schools may think that children should learn about money at home. But parents aren't necessarily the best teachers. Even when they are, children may not be inclined to listen. Classroom settings are excellent forums for getting a lesson down. There's objective evidence that classroom lessons take. People from states that require a personal-finance course in high school save more money as adults than people from other states, according to a study led by economist Douglas Bernheim of Stanford University. They also accumulate more net worth. "Education may be a powerful tool for stimulating personal saving," Bernheim said. Personal-finance education doesn't arise by popular demand. Parents may like the idea when they hear about it, but rarely contemplate it otherwise. What gets these courses started is lobbying by interested educators or business groups, or the personal concerns of particular legislators, Bernheim said. JumpStart will press the states to list personal finance among their educational standards. These standards, found in a majority of states, define what a high school senior should be expected to know. Ideally, students would learn about income and taxes, money management, saving, investing and spending — if not in a stand-alone course, then as part of math or eco=. nomics. * To get this done requires state coalitions that can reach local legislators and school authorities. There are five JumpStart coalitions so far, in California, Georgia, Idaho, New Jersey and North Carolina. Groups are also starting in Massachusetts, Minnesota, Texas and Washington state. There's no single curriculum for personal finance. Where it's taught, the schools use different approaches. Some tuck it into a course known as "family and consumer science," with an appropriate textbook. Others use courses prepared by outside sources, such as the High School Financial Planning Program, from the National Endowment for Financial Education in Denver. Or the Personal Finance Series, by the National Council for Economic Education in New York City. You'll find a central listing of brochures, videotapes and other teaching materials on the Internet at www.jumpstartcoalition.org SUGGESTIONS? CALL MARY JO PROCHAZKA, MONEY EDITOR, AT (785) 823-6363 OR 1-800-827-6363 OR E-MAIL AT sjmprochazka@saljournal.com I I

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