Tis’ the season for giving gifts, spreading joy & living in excess!
Here are 10 tips on how to become a lean, green holiday machine.
-We all love getting holiday cards in the mail, but this year save a tree and some money by sending out e-cards to your loved ones.
-If your family will gather around a tree this year why not make it a potted, living tree that you can either keep around for next year, or plant in the backyard as a reminder of a great holiday spent together?
-Purchase LED lights to make your tree sparkle! I will admit they take some getting use to, but you will be thankful when you energy bill comes due.
-Make your own ornaments from dough. This is a great activity for the whole family to take part in, and it only costs pennies.
-Pine cones can be used in all sorts of nifty ways. They can be made into a beautiful, inexpensive centerpiece with just a little spray paint or glitter, you can make bird feeders out of them with some peanut butter & bird seed, or you can give them as gifts by dipping them in candle wax to be used as a fire starter.
-Plan a holiday decoration swap meet! Invite your friends and family over to exchange their unwanted decorations. This is a great way to have fun, save money & get new-to-you decorations!
-Buy carbon offsets as a gift for friends & family who are traveling for the holiday season.
-Green your gift giving by hand making your own, re-gifting items, or buying LOCAL and/or battery-free gifts.
For more green gifting ideas you can visit treehugger.com and look through their 2010
Gift Guide.
After acquiring all of your groovy, green gifts remember to go light on the wrapping. Get inventive with your wrapping techniques. Use items around the house to make your own wrapping, or buy recycled wrapping paper.
Happy Holidays everyone!
Gracie Mohr
Thursday, December 9, 2010
Practical Prosperity
December 2010
“Lucy – Incidentally, I know how you feel about this Christmas business, getting depressed and all that. It happens to me every year. I never get what I really want! I always get a bunch of stupid toys, or a bike, or clothes, or something like that.
Charlie Brown – What is it you want???
Lucy – Real estate!”
It’s the holiday season and I thought it would be perfect to quote one of my favorite holiday shows “A Charlie Brown Christmas”. Whatever holiday you celebrate this month, Lucy may just have a sound solution to your gift giving problems.
Real estate is cheap and buyers are still in command of the market. This year has been an interesting year in terms of the economy. Many expected real estate to have turned a corner and the unemployment rate to be falling. While manufacturing is up, corporate profits are strong, and prices are being held in check, our economy is still not firing on all cylinders yet. Let’s take a quick look at where we are as of November 30, 2010.
GDP (Gross Domestic Product)
2% - 2.50%
Inflation (Core CPI)
0% - 1.50%
Unemployment Rate
8.00% - 9.00%
Federal Funds Rate
1.00%
S&P 500 Return
8.16%
Bond Market Returns
4%
While it is shaping up to be a decent year for stock market returns, GDP and unemployment are still just barely hanging on. This prompted many to begin speculating a double-dip recession might be on the horizon. (We don’t believe that is the case.) What is most important is to remember, that things are growing. We may not be happy with unemployment and GDP, but they are slowly improving. Marrying these improvements with a reasonably priced stock market and strong corporate earnings, 2011 may also be shaping up for a pretty good year.
The amount of debt consumers took on was massive and we will see continued deleveraging for a number of years, however the savings rate is beginning to level off from its previous skyrocket. That means more money to put into the economy and if consumers feel good, that will happen.
On that note, its time to get merry! Let’s follow up on a tip I gave you in our December 2008 newsletter. Buy stock. Your $50.00 holiday gift would be worth this today:
Dow Jones $66.56 up 33.11%
S&P 500 $69.36 up 38.77%
NASDAQ $83.60 up 67.20%
Emerging Markets $92.89 up 85.77%
With return figures like that, if you were the lucky recipient, you should be quite merry. Giving a gift like this to a child or grandchild not only keeps on giving, but it teaches a great and necessary financial lesson.
Finally, each December it is also fun to take a look at the annual Christmas Price Index calculated each year by The PNC Financial Services Group. After little movement last year, the index had its 2nd greatest year of inflation in 2010, rising 9.2%. Gold rings surged 30% on rising commodities, and ladies dancing must be in high demand as their prices soared 15%. For some holiday cheer click here and waste an hour on a cold day laughing your way through an economics lesson.
So once again my calling, if you are just totally stumped on someone’s holiday gift, buy stock. Whether you have $50.00 to spend or $50,000 to spend, now is the time. Efficiently priced markets perform well independently of stellar economic returns. This is our environment and we should make the best of it. One of our missions at Mackey Advisors™ has always been for you to continually be prosperous. Whether that means giving gifts, volunteering time, hosting the family dinner, or helping a family in need make it your mission too this holiday season. A most safe and happy holiday to you and yours.
Andy Pulsfort
“Lucy – Incidentally, I know how you feel about this Christmas business, getting depressed and all that. It happens to me every year. I never get what I really want! I always get a bunch of stupid toys, or a bike, or clothes, or something like that.
Charlie Brown – What is it you want???
Lucy – Real estate!”
It’s the holiday season and I thought it would be perfect to quote one of my favorite holiday shows “A Charlie Brown Christmas”. Whatever holiday you celebrate this month, Lucy may just have a sound solution to your gift giving problems.
Real estate is cheap and buyers are still in command of the market. This year has been an interesting year in terms of the economy. Many expected real estate to have turned a corner and the unemployment rate to be falling. While manufacturing is up, corporate profits are strong, and prices are being held in check, our economy is still not firing on all cylinders yet. Let’s take a quick look at where we are as of November 30, 2010.
GDP (Gross Domestic Product)
2% - 2.50%
Inflation (Core CPI)
0% - 1.50%
Unemployment Rate
8.00% - 9.00%
Federal Funds Rate
1.00%
S&P 500 Return
8.16%
Bond Market Returns
4%
While it is shaping up to be a decent year for stock market returns, GDP and unemployment are still just barely hanging on. This prompted many to begin speculating a double-dip recession might be on the horizon. (We don’t believe that is the case.) What is most important is to remember, that things are growing. We may not be happy with unemployment and GDP, but they are slowly improving. Marrying these improvements with a reasonably priced stock market and strong corporate earnings, 2011 may also be shaping up for a pretty good year.
The amount of debt consumers took on was massive and we will see continued deleveraging for a number of years, however the savings rate is beginning to level off from its previous skyrocket. That means more money to put into the economy and if consumers feel good, that will happen.
On that note, its time to get merry! Let’s follow up on a tip I gave you in our December 2008 newsletter. Buy stock. Your $50.00 holiday gift would be worth this today:
Dow Jones $66.56 up 33.11%
S&P 500 $69.36 up 38.77%
NASDAQ $83.60 up 67.20%
Emerging Markets $92.89 up 85.77%
With return figures like that, if you were the lucky recipient, you should be quite merry. Giving a gift like this to a child or grandchild not only keeps on giving, but it teaches a great and necessary financial lesson.
Finally, each December it is also fun to take a look at the annual Christmas Price Index calculated each year by The PNC Financial Services Group. After little movement last year, the index had its 2nd greatest year of inflation in 2010, rising 9.2%. Gold rings surged 30% on rising commodities, and ladies dancing must be in high demand as their prices soared 15%. For some holiday cheer click here and waste an hour on a cold day laughing your way through an economics lesson.
So once again my calling, if you are just totally stumped on someone’s holiday gift, buy stock. Whether you have $50.00 to spend or $50,000 to spend, now is the time. Efficiently priced markets perform well independently of stellar economic returns. This is our environment and we should make the best of it. One of our missions at Mackey Advisors™ has always been for you to continually be prosperous. Whether that means giving gifts, volunteering time, hosting the family dinner, or helping a family in need make it your mission too this holiday season. A most safe and happy holiday to you and yours.
Andy Pulsfort
Partnership and Win/Win as a new Business Model
The growth of Mackey Advisors has brought us to the threshold of buying our own building. Just recently, I found a fabulous, unique space and I was prepared to make the purchase, as I could see Mackey Advisors growing and thriving there. After weeks of exploration and negotiation, I sadly walked away. Negotiations involve give and take, but it seemed that Mackey Advisors was doing all the giving and the developer was doing all the taking. As I step back, I realize that fundamentally, we have different approaches to doing business.
Business has traditionally been conducted as a win/lose venture. I have something to sell to you. You want a bargain. The deal is consummated when one of the parties feel they have the upper hand. I have not conducted business in this way for many years. My attitude is one more aligned with partnership, where both parties’ needs are heard, respected, honored, and met to the fullest extent possible. Compromise is the name of the game.
If I am in need of a product or service, I want to exchange my resources with a vendor who will meet or exceed my expectations at a fair price. AND I want the vendor’s price to support their operation and to allow a profit. After all, if they do well, they will continue to provide the valuable service of being attentive to and meeting my needs.
In all of our ways of “coming together” financially, as vendors, customers, business partners, or even spouses, we can do so from a place of win/lose, or we can adopt a win/win form of “partnership.” Not partnership in the traditional sense, but partnership in the sense of mutual respect, knowing that we are both in this together, and that we both have needs that must be met. It’s still competition, but with a cooperative twist. After all, if I thrive at your expense, where does that leave me the next time I need to partner with someone to accomplish my goals?
From this place, where each party looks to find a way to support, cooperate with, and meet the needs of the other, win/win is created. You might call it “cooperative negotiation”, and it is a transformational place from which to conduct business. In this place of win/win, both parties thrive. In the place of win/lose, one or both parties are damaged by the relationship. Think of all the dysfunctions that occur around money because one person is trying to get more than the other. Think of the possibility in a world where business is conducted in a place of win/win. What world do you choose? It is yours to create!
Mackey McNeill
Business has traditionally been conducted as a win/lose venture. I have something to sell to you. You want a bargain. The deal is consummated when one of the parties feel they have the upper hand. I have not conducted business in this way for many years. My attitude is one more aligned with partnership, where both parties’ needs are heard, respected, honored, and met to the fullest extent possible. Compromise is the name of the game.
If I am in need of a product or service, I want to exchange my resources with a vendor who will meet or exceed my expectations at a fair price. AND I want the vendor’s price to support their operation and to allow a profit. After all, if they do well, they will continue to provide the valuable service of being attentive to and meeting my needs.
In all of our ways of “coming together” financially, as vendors, customers, business partners, or even spouses, we can do so from a place of win/lose, or we can adopt a win/win form of “partnership.” Not partnership in the traditional sense, but partnership in the sense of mutual respect, knowing that we are both in this together, and that we both have needs that must be met. It’s still competition, but with a cooperative twist. After all, if I thrive at your expense, where does that leave me the next time I need to partner with someone to accomplish my goals?
From this place, where each party looks to find a way to support, cooperate with, and meet the needs of the other, win/win is created. You might call it “cooperative negotiation”, and it is a transformational place from which to conduct business. In this place of win/win, both parties thrive. In the place of win/lose, one or both parties are damaged by the relationship. Think of all the dysfunctions that occur around money because one person is trying to get more than the other. Think of the possibility in a world where business is conducted in a place of win/win. What world do you choose? It is yours to create!
Mackey McNeill
Thursday, November 18, 2010
Go Green
The weather outside may be frightful, but here are a few ways to keep the inside delightful and not break the bank. With just a few changes in your lifestyle you can save the planet by cutting down on your energy use and save a little pocket change.
Energy Saving Tips for the Winter Ahead:
Close up rooms that are not used on a regular basis, like a guest bedroom. Close the vents, turn down the thermostat, and close the door. There is no sense heating a room that is not occupied
Turn down the thermostat and use space heaters in frequently used spaces. Turning down your thermostat even 1 degree can save you 3% on your energy bill!
Minimize the use of ventilation fans. A bathroom fan can suck all the heated air out of the average home in little more than an hour.
Keep your furnace, heat pump, or other heating equipment maintained and running as efficiently as possible. Look into purchasing a maintenance agreement. In the long run it could save your family lots of money.
Ceiling fans do more than keep you cool during the summer; they can warm during the winter. It’s as simple as flipping a switch to change the direction of the blades, which pushes warm air down.
Keep the water heater temperature at 120 degrees or cooler.
When washing clothes always wash full loads and use cold water whenever possible.
We all love those long hot showers in the winter, but by cutting your shower time in half you can save 33% on hot water costs.
Let Mother Nature lend a warm hand. Open up the curtains and blinds on all South facing windows during the day and let the sunlight heat the house naturally. But be sure to close them before the sun goes down to keep the heat within the house.
Gracie Mohr
Energy Saving Tips for the Winter Ahead:
Close up rooms that are not used on a regular basis, like a guest bedroom. Close the vents, turn down the thermostat, and close the door. There is no sense heating a room that is not occupied
Turn down the thermostat and use space heaters in frequently used spaces. Turning down your thermostat even 1 degree can save you 3% on your energy bill!
Minimize the use of ventilation fans. A bathroom fan can suck all the heated air out of the average home in little more than an hour.
Keep your furnace, heat pump, or other heating equipment maintained and running as efficiently as possible. Look into purchasing a maintenance agreement. In the long run it could save your family lots of money.
Ceiling fans do more than keep you cool during the summer; they can warm during the winter. It’s as simple as flipping a switch to change the direction of the blades, which pushes warm air down.
Keep the water heater temperature at 120 degrees or cooler.
When washing clothes always wash full loads and use cold water whenever possible.
We all love those long hot showers in the winter, but by cutting your shower time in half you can save 33% on hot water costs.
Let Mother Nature lend a warm hand. Open up the curtains and blinds on all South facing windows during the day and let the sunlight heat the house naturally. But be sure to close them before the sun goes down to keep the heat within the house.
Gracie Mohr
Practical Prosperity
November 2010
If you feel that 2010 has breezed by quickly, you are not alone. Many Americans have had an exciting year of ups and downs in their financial lives. We soared into the year with a rising stock market and signs that housing and unemployment were on the verge of being on much better footing.
Spring and summer however began to instill doubt in many investors. As incentives expired, home sales once again became tepid and unemployment seemed stuck as census jobs began to diminish. Thankfully this fall has brought on a newfound sense of optimism and markets are moving again, housing prices are stabilizing (in many regions), and slowly but surely jobs are being created.
It is only appropriate in this season of thanks that we be thankful for the things that the stock market can’t take away from us. We can also be mindful of ways we can have a great season without compromising the savings we have set aside for our future goals and dreams.
Let’s take a trip to your local auto showroom. If your car needs to be replaced, year end is a great time. If you don’t need “2011” on the sticker, there are deals galore to be had. Many dealers are “advertizing” the invoice price (their price to purchase from the manufacturer) as the sale price. This is where negotiations start, as dealers take losses to clear the lot. If you can swallow some pride, your wallet will swallow more car.
With home sales still crawling out of the deepest of doldrums, now is still a time to buy. Government incentives may be over; however sellers are eager to do just that, sell. Consider this. Its January, its 20 degrees, streets are slushy, and the sky is gray. Homes look awful, buyers aren’t out, and some people have taken their home off the market until the weather improves. Find your new home now, before this happens. It might make for hectic holidays, but sellers do not want a house on the market through the depths of the winter. A house on the market in December is often doomed until at least April. Deals are to be had!
It is also a great time to be shopping for home items, clothing, and gift items. Sales are in abundance as demand to clear inventory increases. If your accounts can handle it, consider some of your need expenses, not just holiday gifts. If you have some less than fresh suits in the closet, a threadbare sofa, or a television that won’t tune, this is a great time to find your replacement. Prices are marked down; coupon deals are available by the thousands online; shipping is being touted as free. Take advantage of this! You might be able to replace your worn out microwave by purchasing one on sale, with an additional 25% off, shipped to your door for free. How is that for savings and convenience?
It is about being smart, not cheap. The time and money saved means more resources for what is really important. You will spend more time with family, save for that dream vacation, and have an overall sense of prosperity. If you have taken advantage of the concepts mentioned, or found others, let us know. We would love to share your stories of abundance no matter how they manifest. Your efforts might also empower confident action in your friends and family to do the same.
Here’s to you and your family for a very warm, enjoyable, and prosperous season of thanks!
Andy Pulsfort
If you feel that 2010 has breezed by quickly, you are not alone. Many Americans have had an exciting year of ups and downs in their financial lives. We soared into the year with a rising stock market and signs that housing and unemployment were on the verge of being on much better footing.
Spring and summer however began to instill doubt in many investors. As incentives expired, home sales once again became tepid and unemployment seemed stuck as census jobs began to diminish. Thankfully this fall has brought on a newfound sense of optimism and markets are moving again, housing prices are stabilizing (in many regions), and slowly but surely jobs are being created.
It is only appropriate in this season of thanks that we be thankful for the things that the stock market can’t take away from us. We can also be mindful of ways we can have a great season without compromising the savings we have set aside for our future goals and dreams.
Let’s take a trip to your local auto showroom. If your car needs to be replaced, year end is a great time. If you don’t need “2011” on the sticker, there are deals galore to be had. Many dealers are “advertizing” the invoice price (their price to purchase from the manufacturer) as the sale price. This is where negotiations start, as dealers take losses to clear the lot. If you can swallow some pride, your wallet will swallow more car.
With home sales still crawling out of the deepest of doldrums, now is still a time to buy. Government incentives may be over; however sellers are eager to do just that, sell. Consider this. Its January, its 20 degrees, streets are slushy, and the sky is gray. Homes look awful, buyers aren’t out, and some people have taken their home off the market until the weather improves. Find your new home now, before this happens. It might make for hectic holidays, but sellers do not want a house on the market through the depths of the winter. A house on the market in December is often doomed until at least April. Deals are to be had!
It is also a great time to be shopping for home items, clothing, and gift items. Sales are in abundance as demand to clear inventory increases. If your accounts can handle it, consider some of your need expenses, not just holiday gifts. If you have some less than fresh suits in the closet, a threadbare sofa, or a television that won’t tune, this is a great time to find your replacement. Prices are marked down; coupon deals are available by the thousands online; shipping is being touted as free. Take advantage of this! You might be able to replace your worn out microwave by purchasing one on sale, with an additional 25% off, shipped to your door for free. How is that for savings and convenience?
It is about being smart, not cheap. The time and money saved means more resources for what is really important. You will spend more time with family, save for that dream vacation, and have an overall sense of prosperity. If you have taken advantage of the concepts mentioned, or found others, let us know. We would love to share your stories of abundance no matter how they manifest. Your efforts might also empower confident action in your friends and family to do the same.
Here’s to you and your family for a very warm, enjoyable, and prosperous season of thanks!
Andy Pulsfort
Getting Naked
I would never have purchased the book Getting Naked: A Business Fable About Shedding The Three Fears That Sabotage Client Loyalty by Patrick Lencioni, as the title does not speak to me and I was not familiar with Mr. Lencioni’s previous work. However in early November, I had the pleasure of hearing him speak. As I listened, I found myself challenged, aligned and ready to read anything Mr. Lencioni had written.
The essence of the book is about being vulnerable. Sounds simple enough. I certainly think of myself as an authentic person, willing to be real and vulnerable. Yet in business and in life, being vulnerable can be challenging for many people. Sometimes it requires that we admit to our lack of knowledge and our mistakes. It might also mean we have to tell the truth when a white lie would be much easier. It can also mean turning a client away when you are not the right fit.
In Getting Naked, Mr. Lencioni describes three fears we must walk through to deliver naked service:
Fear of Losing the Business - Worrying about losing a client's business may cause service providers and consultants to avoid the very things that ultimately engender trust and loyalty.
Fear of Being Embarrassed - Rooted in pride, this fear can lead service providers to withhold their best ideas from clients.
Fear of Feeling Inferior - To avoid feeling irrelevant or being overlooked, consultants try to achieve and preserve a high level of importance in clients' minds.
As he spoke about the fear of losing the business, I remembered my own experience:
An acquaintance called and asked me if I would work with her mother. I agreed. Both mother and daughter came to the appointment. After only fifteen minutes, I was clear that the daughter really wanted me to help her mother. And I was equally clear that what her mother really needed was to work with her local banker, someone she dearly trusted and with whom she felt safe.
At the end of our conversation, I looked at the mother, who had been sitting next to me with her arms crossed and with a scowling look on her face the entire meeting, and said, “I hear that the money you have is really important to you as a safety net. I also understand you want to use this money for special things in life, and you do not need it for everyday living. As you have spoken, it seems clear that you really trust your local banker, so I am curious as to why you would not continue to work with your banker.” Surprised, she relaxed, smiled and said, “Do you really think I should work with my banker?” “Yes,” I replied.
She told me how much she appreciated our meeting and gave me a big hug. She left my office with a clear plan on how to work with her banker. As she was leaving, she asked me what she owed me for our time today. “No charge” I replied.
The mother came to see me to make her daughter happy. I know that we could have done a great job for the mother, except that she wanted something else: to work with her banker. This meeting did not earn me any new business or revenue. Yet what I gained was priceless. I went to sleep that night knowing I had done the right thing. I had been willing to listen, to be vulnerable and say, “We are not the best fit for your needs.”
Being vulnerable does not mean throwing caution to the wind and dismissing the wisdom we have gained throughout our lifetime. But it does mean having an open mind, and speaking the truth when the truth is what serves the highest good of everyone. That is how strong, trusting relationships develop between us.
To continue learning about Mr. Lencioni’s book and to download his model, visit his web site at:
http://www.tablegroup.com/books/gettingnaked
One of the things I most love about being a successful CEO is being vulnerable enough to say “I don’t know it all”, which means I am open to the teachings and wisdom of others. That creates a world of endless possibilities! I hope you enjoy learning about Getting Naked much as I did!
Mackey McNeill
The essence of the book is about being vulnerable. Sounds simple enough. I certainly think of myself as an authentic person, willing to be real and vulnerable. Yet in business and in life, being vulnerable can be challenging for many people. Sometimes it requires that we admit to our lack of knowledge and our mistakes. It might also mean we have to tell the truth when a white lie would be much easier. It can also mean turning a client away when you are not the right fit.
In Getting Naked, Mr. Lencioni describes three fears we must walk through to deliver naked service:
Fear of Losing the Business - Worrying about losing a client's business may cause service providers and consultants to avoid the very things that ultimately engender trust and loyalty.
Fear of Being Embarrassed - Rooted in pride, this fear can lead service providers to withhold their best ideas from clients.
Fear of Feeling Inferior - To avoid feeling irrelevant or being overlooked, consultants try to achieve and preserve a high level of importance in clients' minds.
As he spoke about the fear of losing the business, I remembered my own experience:
An acquaintance called and asked me if I would work with her mother. I agreed. Both mother and daughter came to the appointment. After only fifteen minutes, I was clear that the daughter really wanted me to help her mother. And I was equally clear that what her mother really needed was to work with her local banker, someone she dearly trusted and with whom she felt safe.
At the end of our conversation, I looked at the mother, who had been sitting next to me with her arms crossed and with a scowling look on her face the entire meeting, and said, “I hear that the money you have is really important to you as a safety net. I also understand you want to use this money for special things in life, and you do not need it for everyday living. As you have spoken, it seems clear that you really trust your local banker, so I am curious as to why you would not continue to work with your banker.” Surprised, she relaxed, smiled and said, “Do you really think I should work with my banker?” “Yes,” I replied.
She told me how much she appreciated our meeting and gave me a big hug. She left my office with a clear plan on how to work with her banker. As she was leaving, she asked me what she owed me for our time today. “No charge” I replied.
The mother came to see me to make her daughter happy. I know that we could have done a great job for the mother, except that she wanted something else: to work with her banker. This meeting did not earn me any new business or revenue. Yet what I gained was priceless. I went to sleep that night knowing I had done the right thing. I had been willing to listen, to be vulnerable and say, “We are not the best fit for your needs.”
Being vulnerable does not mean throwing caution to the wind and dismissing the wisdom we have gained throughout our lifetime. But it does mean having an open mind, and speaking the truth when the truth is what serves the highest good of everyone. That is how strong, trusting relationships develop between us.
To continue learning about Mr. Lencioni’s book and to download his model, visit his web site at:
http://www.tablegroup.com/books/gettingnaked
One of the things I most love about being a successful CEO is being vulnerable enough to say “I don’t know it all”, which means I am open to the teachings and wisdom of others. That creates a world of endless possibilities! I hope you enjoy learning about Getting Naked much as I did!
Mackey McNeill
Monday, November 8, 2010
College Board Releases New College Cost Figures
On October 28, 2010, the College Board released college cost figures for the 2010/2011 academic year in its annual Trends in College Pricing report.
Here are a few highlight from the reports:
Four-year public colleges (in-state students):
Tuition and fees increased an average of 7.9% to $7,605
Room and board increased an average of 4.6% to $8,535
Total average cost* for 2010/2011: $20,339
Four-year public colleges (out-of-state students):
Tuition and fees increased an average of 6.0% to $19,595
Room and board increased an average of 4.6% to $8,535
Total average cost* for 2010/2011: $32,329
Four-year private colleges:
Tuition and fees increased an average of 4.5% to $27,293
Room and board increased an average of 3.9% to $9,700
Total average cost* for 2009/2010: $40,476
*"Total average cost" includes tuition and fees, room and board, books and supplies, transportation, and other miscellaneous costs.
The report also notes the estimated average amount of grant aid and federal education tax benefits that full-time college students received for the 2010/2011 year: $6,100 for students attending public colleges and $16,000 for students at private colleges.
Here are a few highlight from the reports:
Four-year public colleges (in-state students):
Tuition and fees increased an average of 7.9% to $7,605
Room and board increased an average of 4.6% to $8,535
Total average cost* for 2010/2011: $20,339
Four-year public colleges (out-of-state students):
Tuition and fees increased an average of 6.0% to $19,595
Room and board increased an average of 4.6% to $8,535
Total average cost* for 2010/2011: $32,329
Four-year private colleges:
Tuition and fees increased an average of 4.5% to $27,293
Room and board increased an average of 3.9% to $9,700
Total average cost* for 2009/2010: $40,476
*"Total average cost" includes tuition and fees, room and board, books and supplies, transportation, and other miscellaneous costs.
The report also notes the estimated average amount of grant aid and federal education tax benefits that full-time college students received for the 2010/2011 year: $6,100 for students attending public colleges and $16,000 for students at private colleges.
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