Latest news with #financialsavings
BBC News
3 hours ago
- Business
- BBC News
West Mercia Police looks to make staff cuts to save money
The police force which serves Shropshire, Herefordshire and Worcestershire plans to make staff cuts to save Mercia Police and the office of the West Mercia Police and Crime Commissioner (PCC) said they had "had to make significant savings and improve efficiencies".Police officer numbers will not be affected but other staff will be asked if they want to reduce their hours or resign.A joint statement said: "We believe these measures, along with a police staff recruitment freeze, will help stabilise our financial position." It added that they had already made a number of redundancies in non-police officer roles which had "helped achieve crucial savings" but more was who resign from either organisation will be receive a lump-sum the police force, or the office of the PCC, have said how many positions will be affected or how much money they aim to January, the West Mercia PCC, John Campion, warned up to 150 staff jobs could go to balance the books. Follow BBC Shropshire on BBC Sounds, Facebook, X and Instagram.
Yahoo
3 days ago
- Business
- Yahoo
9 Downsizing Tips for the Middle Class To Save on Monthly Expenses
There's only so much you can control about your financial situation. You can't snap your fingers and magically increase your salary. The reality is that if you're in the middle class, one of the biggest changes you can make is downsizing to save money on monthly expenses. Find Out: For You: But that doesn't mean you have to give up everything you enjoy in your daily life. There are some pretty common expenses and purchasing habits the middle class can easily cut back on that can seriously improve their finances — especially for people with debt. One of the easiest areas for middle-class families to save money, according to finance expert, Dennis Shirshikov, is by evaluating and downsizing their subscription services. 'Many households subscribe to multiple streaming services, digital magazines and monthly delivery boxes, often spending more than $100 per month,' he said. 'While individually these services seem affordable, collectively they can add up significantly.' A practical approach he recommended is to review all subscriptions and eliminate those that are rarely used or overlap in content. 'For example, choosing one or two favorite streaming platforms instead of subscribing to five can save around $30 to $50 monthly,' Shirshikov said. Read Next: If you're in the middle class and carry debt, you know how much of your monthly budget it can eat up. Your balance keeps growing, and you can struggle to even make the minimum payments on top of all your other bills. With debt settlement, their experts will negotiate directly with your lenders to agree on a reduced balance, meaning you could pay less than what you owe. With debt consolidation, all your debt is combined into one new loan, ideally with a lower interest rate. This helps you pay off your balance faster and saves money on interest payments. Another significant expense for many middle-class families is dining out and takeout, Shirshikov said. 'While convenient, frequently eating out can quickly become a financial drain,' he said. 'According to the Bureau of Labor Statistics, the average household spends about $3,000 annually on food away from home. Reducing the frequency of dining out by planning meals and cooking at home can result in substantial savings.' According to Shirshikov, downsizing vehicle-related expenses is another effective way to save money. 'Many middle-class families own multiple cars, which can be costly when considering insurance, maintenance, fuel, and loan payments,' he said. Shirshikov said evaluating the necessity of each vehicle and considering alternatives like carpooling, public transportation or even biking can lead to significant savings. 'For example, selling a second car that is rarely used can save on insurance and maintenance costs, potentially freeing up $200 to $400 monthly.' 'The rise of streaming services and online content has made traditional cable packages less essential,' Shirshikov said. 'Middle-class families can often find more cost-effective options by downgrading their cable packages or switching to internet-only plans combined with streaming services. According to a report by the average cable bill in the U.S. is about $217 per month.' He said by cutting the cord and opting for a high-speed internet plan paired with a few streaming subscriptions, families can save upwards of $100 per month. Justin Godur, finance advisor and founder of Capital Max, agreed. 'Often, we subscribe to expensive cable packages thinking we need numerous channels or premium content,' he said. However, he noted that most people don't utilize half of what they pay for. 'Opting for selective streaming services or a basic cable package can save a substantial amount each month.' 'While the allure of the latest smartphone model is strong, these devices can be incredibly expensive,' Godur said. 'Opting for a model that's one or two generations older can still provide excellent functionality at a fraction of the cost.' Shopping for groceries — or medications — can quickly become expensive when opting for brand-name products. 'Many store-brand items are nearly identical in quality but are significantly cheaper,' Godur said. This simple switch can save a noticeable amount each month without sacrificing quality. 'Gym memberships are beneficial, but often underutilized,' Godur said. 'Considering the cost, it's practical to switch to cost-effective or free alternatives like outdoor exercises, community sports groups or even online workout classes that are much cheaper or free.' Shirshikov shared a similar view, saying many people pay for memberships they rarely use. But he also advised that when the weather permits outdoor activities like running, biking or hiking, those in the middle class should explore home workout routines or local community centers with lower fees. 'This can be an effective way to stay fit without the high costs,' he said. This last tip is arguably a bit tired, but it doesn't make it any less true. 'A daily coffee purchase at high-end cafes can quietly drain your wallet,' Godur said. 'Investing in a good coffee maker at home can dramatically cut down your monthly expenses and you might find you enjoy the taste of your home brew just as much.' At the very least, just try to cut down on your Starbucks trips, and you could find yourself with an extra $100 in our savings account every month. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard The New Retirement Problem Boomers Are Facing 7 Luxury SUVs That Will Become Affordable in 2025 This article originally appeared on 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses
ABC News
6 days ago
- Business
- ABC News
Australian National University announces first round of job cuts as part of effort to turn around financial issues
The first of several rounds of job cuts has been announced by the Australian National University (ANU), as it continues to grapple with its dire financial position. After years of operating deficits, the university has been seeking to make $250 million in savings by the end of the year, including $100 million to come from salaries. ANU Vice-Chancellor Genevieve Bell said the university was now just over halfway towards their salary savings target, made mostly through voluntary redundancies. "This is a hard time for our community and it has been a hard journey," Professor Bell said. "We are going to keep having to make hard choices." The first of several "change proposals" has been released by the ANU, focusing on the institute's Information Technology Services, Information Security Office, and Planning and Service Performance division. A total of 37 jobs are proposed to be cut, representing a reduction of between nine per cent and 14 per cent of staff for each of those three areas. Professor Bell said it was a "difficult day". "I know that is going to be a difficult journey to get us there, but I also know it's the right thing to do for this remarkable place." In coming weeks, proposed job cuts and restructures will be released for the Academic Portfolio, Research and Innovation Portfolio, the College of Science and Medicine, and the College of Arts and Social Sciences. ANU Chief Operating Officer Jonathan Churchill said there would be a consultation period after the release of each change proposal, promising to consult "every step of the way". "Only after considering this feedback will final decisions be made." The university said the number of jobs being cut wasn't representative of the number of affected staff because, in some instances, reductions have been found in vacant roles. Mr Churchill said the ANU had made "every effort to minimise the impact". "We recognise this is an incredibly challenging time for our whole community, but we also need to make changes to ensure we can continue to deliver world-class teaching and research into the future," he said. "We are grateful to our staff and students for their patience, engagement, continued hard work and care for others throughout this process." The National Tertiary Education Union (NTEU) ACT division secretary Lachlan Clohesy said the proposed cuts were a "slap in the face to university staff". "These job cuts are the tip of the iceberg," he said. "We're expecting ANU leadership to announce hundreds more job losses by the end of September." Dr Clohesy said there was no financial rationale for job cuts, repeating a call for the vice-chancellor to be sacked. "These cuts, and the broader ANU situation under this vice-chancellor, have completely trashed the ANU's reputation and damaged staff and students. "The vice-chancellor's tenure has been a disaster." Last week, more than 500 ANU staff signed an open letter calling on university leadership to stop plans for further job cuts. The university said it had identified $25 million in non-salary savings so far this year, in areas including travel, software and campus services. "It's important to note that most non-salary savings take longer to realise — for example, having to wait for contracts to expire," ANU Chief Finance Officer Michael Lonergan said. "Further work continues to identify and realise further savings, and we remain confident of reaching our target."
Globe and Mail
19-05-2025
- Business
- Globe and Mail
Ethical Energy Solar Partners with Penn State Athletics to Promote Energy Independence
Ethical Energy Solar Becomes the Official Solar Partner of Penn State Athletics and Penn State Football Highlighting Financial Stability and Community Support for Nittany Lion Fans. York, Pennsylvania--(Newsfile Corp. - May 19, 2025) - Ethical Energy Solar, a Pennsylvania solar energy provider, is pleased to announce its official partnership with Penn State University Athletics. The partnership focuses on empowering fans and local communities by promoting energy independence, financial savings, and community growth. To view an enhanced version of this graphic, please visit: Supporting Penn State University Families and Communities At the core of this partnership is a shared commitment to helping Penn State families and communities gain control over rising utility costs. Ethical Energy Solar, which specializes in solar installations using American-made materials, aims to provide Pennsylvanians with energy solutions that are both reliable and cost-effective. The collaboration underscores Penn State University's dedication to advancing positive change in its surrounding communities. By offering educational resources and outreach opportunities, the partnership seeks to raise awareness about energy independence and long-term financial stability. Enhancing Game Day and Beyond Beaver Stadium, which serves as the home of Penn State University football, will play a central role in this initiative. The stadium's iconic status makes it an ideal venue for engaging fans and showcasing the benefits of a more secure energy future. Fans of Penn State football visiting Beaver Stadium on game day will have the opportunity to explore ways to combat rising energy costs while contributing to a stronger, more empowered community. Ethical Energy Solar plans to leverage these events to connect with residents who share a passion for financial freedom and the tradition of Nittany Lions football. A Boost for Local Economies Ethical Energy Solar, headquartered in York, Pennsylvania, prides itself on employing a locally-based workforce and sourcing American-made solar panels for all its projects. Rated the best solar company in PA for their exceptional residential solar services. Dan Solomon, Vice President of Corporate Partnerships for Penn State Sports Enterprises, shared his enthusiasm for the collaboration: "Penn State and Playfly Sports are thrilled to welcome Ethical Energy into our corporate family. As the solar category continues to grow, it excites us to be able to partner with a Pennsylvania-based company that is so deeply committed to helping local communities thrive. Their focus on sustainable energy solutions aligns perfectly with our shared values of innovation, responsibility, and community impact. Being able to feature Ethical Energy on a one-of-a-kind premium asset this fall will be a great way for us to help grow its brand awareness while also spotlighting the importance of renewable energy. We look forward to building a bright, impactful future together." Looking Toward the Future This partnership reflects a growing trend of universities and organizations seeking sustainable, community-centered initiatives. For Penn State University and Ethical Energy Solar, the collaboration is an opportunity to make a lasting difference for both fans and local residents. While the financial savings and energy stability offered by solar power are at the forefront of this partnership, its broader goal is to foster empowerment in Pennsylvania communities. By providing these resources, Penn State University reaffirms its commitment to being a leader not only in athletics but also in driving meaningful community improvement. Ethical Energy Solar Partners with Penn State Athletics to Promote Energy Independence To view an enhanced version of this graphic, please visit: Ethical Energy Solar is a Pennsylvania solar company dedicated to providing families and communities with innovative solar energy solutions. Their mission is to help customers achieve financial independence while ensuring high-quality, American-made solar installations. For more information about the partnership or upcoming events, visit Ethical Energy Solar.
