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8 myths about Canadian credit scores newcomers need to know

Having a good credit history and credit score is fundamental for your long-term financial success in Canada. Your credit score is an indicator of your creditworthiness and you’ll need a good credit score to qualify for loans, mortgages, and even apartment rentals. As a newcomer in Canada, you might be unsure about how credit scores work or have some misconceptions about healthy credit practices. Here are eight myths about Canadian credit scores that newcomers need to safeguard themselves against in order to build a good credit score. Myth 1: Credit history from my home country counts in Canada Before arriving in Canada, you might already have a substantial credit history in your home country. Many newcomers believe that this credit history from their home country will transfer over to Canada, and that they will not need to start afresh. However, this is not true. Countries have different credit agencies and ways of calculating credit scores. As a result, your credit score and history from your home country are not transferable to Canada. Your Canadian credit history only starts after you arrive and get credit in the form of a credit card, loan, line of credit, or mortgage, from a Canadian financial institution. If you’re moving to Canada from the United States, the same credit agencies, Equifax and TransUnion, might be responsible for tracking your credit history in both countries. However, these agencies don’t share information across international borders, so you’ll need to start building your credit history from scratch in Canada. That being said, starting with no credit history is not the same as starting at the bottom of the credit scale. Once you start using and paying off your credit card bills, your credit score will likely start in the “fair” range. Myth 2: Money in my savings account counts towards my credit score As a newcomer, it is usually a good idea to set aside some money in a chequing or savings account for future expenses and emergencies. A high-interest s raavings account (HISA) can even help you grow your money. However, these funds have no impact on your credit score. Savings and chequing accounts are not listed on credit reports because no borrowing or debt is involved in these accounts. Since your credit score and history reflects your ability to repay debt, only financial products that involve credit, such as credit cards, loans, lines of credit, or mortgages, are included in your credit report. However, the money in your chequing and savings account can be used to pay off debt and maintain a regular payment schedule for your credit products, especially in times when your income isn’t enough to cover these payments. Ensuring you make regular debt payments will help improve your credit score. Myth 3: Credit scores don’t matter – I won’t take credit unless I need it Many newcomers come to Canada from countries that are credit-averse, where getting into any kind of debt is frowned upon. In such a case, you may either have limited experience with credit or your instinct may be to only take credit when you need it. In Canada, however, credit plays a crucial role in the economy and having a good credit history is essential for your financial success. A credit score is an assessment of your creditworthiness, or the likelihood that you’ll pay off your debt based on your past financial history. While you may not need credit today, building your credit history early will help you qualify for loans and lower int erest rates when you apply for a car loan, education loan or mortgage later. In fact, in some cases, you’ll also need a good credit score for your application to rent a home, obtain a cell phone plan, and even on an employment application. As a newcomer, getting and using a credit card is the easiest way to build your credit history. Start paying for routine purchases like groceries and household essentials with your credit card instead of cash to get comfortable with the concept of credit. Then pay off the balance of your credit card each month from your chequing or savings account. Myth 4: My credit score is based on my income Many newcomers think that you need to be rich to have a good credit score. In truth, however, your earnings are not directly factored into the calculation of your credit score and are not included in your credit history. Credit scores reflect your payment history, or how well you repay debt, rather than how much money you have available. A high income is no guarantee that you’ll use that money to pay off your bills. Regardless of your income, you should be careful about only taking credit that you can pay off in a regular, timely manner. Credit utilization ratio, or the percentage of your overall available credit that is currently being used, is another factor that impacts your credit score. RBC advisors typically recommend using up to 35 per cent of your credit limit, in order to build your credit score. Increasing your credit limit will increase the amount of credit you can use without having a negative impact on your credit score. Your earnings can have an indirect influence when you’re applying for new credit products or for an increase in your credit limit, as financial institutions will usually take both your income and credit history into account. Myth 5: Getting more credit cards is the best way to improve my credit score As a newcomer, it can be tempting to believe that getting multiple credit cards will help you build your credit score faster. However, that’s not necessarily true. Having multiple credit cards can either help or hurt your credit scores, depending on how you use them. While multiple credit cards will give you access to a larger total credit limit, your credit score will be determined by how you use that limit. If you’re using your credit cards wisely and paying off all the bills in full, on time, then having multiple credit cards can work to your advantage. Since your credit utilization ratio takes into account the limits of all your credit cards and other credit products, maintaining the same level of spending even after you get additional credit cards can lower your overall credit utilization and improve your credit score. However, having several credit cards can also create a situation where you end up spending more than you can easily repay. This can result in delayed payments, which in turn, lead to high interest and penalties. It can also negatively impact your credit score. You should speak with a financial advisor to better understand which credit card options may be right for your unique situation and whether you need multiple cards. Myth 6: Checking my own credit score will lower it When you’ve just started building your credit history, it’s important to keep track of your credit score to make sure it’s heading in the right direction. This can also help you identify and report errors or instances of identity fraud in a timely manner. However, many newcomers mistakenly believe that checking their credit score will negatively impact it. The fact is that when you check your own credit score or credit report, it counts as a “soft” inquiry and doesn’t hurt your score. However, a “hard” inquiry, such as by a financial institution or lender, can lower your score by a few points. Hard inquiries are usually initiated by banks, lenders, or mortgage providers to check your creditworthiness before they can issue a new loan, credit card, or other credit product to you. It’s important to note that when multiple inquiries for the same type of loan are made within a short period of time, such as when you’re shopping around for mortgage rates, they are typically counted as one inquiry. Some banks like RBC allow customers to check their credit score for free, at any time, using their online banking portal. You can also get copies of your detailed credit report through Equifax or TransUnion. Myth 7: I just need to pay the minimum balance on my credit card to keep my credit score up One common misconception that newcomers have is that carrying balance on a credit card improves your credit score. This is inaccurate and, if regularly practiced, can negatively impact your credit score. If you’re only paying off the minimum balance on your credit card for a particular month, it doesn’t count as a missed payment, so there may not be an immediate direct impact on your credit score. However, you’ll be charged interest for the remaining balance in the next payment cycle. Credit instruments like credit cards typically have very high rates of interest, and putting off paying balances in full can make it harder for you to pay off your debt later. In addition, most financial institutions and creditors look at how much you owe compared to how much credit you have available. Therefore, carrying a balance from one month to the next can increase your overall credit utilization ratio. This can adversely impact your credit score. That being said, if you’re in a situation where you’re struggling to cover expenses, prioritize debt payments based on the interest rates they carry. Wherever possible, make at least the minimum payment and pay off the remaining amount as soon as possible. Speak to a financial advisor to get advice that is specific to your financial situation. Myth 8: My credit score will be the same with every agency The two national credit reporting agencies, Equifax and TransUnion, have their own independent scoring criteria for calculation of credit scores. Although they take similar factors into account—your payment history, credit utilization ratio, duration of credit, etc., your score could vary slightly based on which agency’s report you’re looking at. When a financial institution or lender runs an inquiry on your credit score, they might look at reports from any credit reporting agency. It’s a good practice to keep a close eye on your credit reports with both major credit agencies to stay up-to-date on your financial position. A good credit score will be crucial as you navigate the financial system as a newcomer in Canada. The task of building a great credit score from scratch in a new country may seem daunting. But by knowing what can harm or improve your credit position and practicing healthy financial habits, you can uncover your path to financial success in Canada. Original article located here, published by Arrive. About Arrive Arrive is powered by RBC Ventures Inc, a subsidiary of Royal Bank of Canada. In collaboration with RBC, Arrive is dedicated to helping newcomers achieve their life, career, and financial goals in Canada. An important part of establishing your financial life in Canada is finding the right partner to invest in your financial success. RBC is the largest bank in Canada* and here to be your partner in all of your financial needs. RBC supports Arrive, and with a 150-year commitment to newcomer success in Canada, RBC goes the extra mile in support and funding to ensure that the Arrive newcomer platform is FREE to all. Working with RBC, Arrive can help you get your financial life in Canada started – right now. Learn about your banking options in Canada and be prepared.

Questions to ask the interviewer in a job interview: Tips for newcomers

As a newcomer, landing your first job in Canada requires a lot of preparation and patience. Before you start applying to job openings, you’ll need to invest time in crafting a Canadian-style resume, perfecting your elevator pitch, and building your professional network. Even with all this work, it can sometimes take newcomers several months to get their first job interview in Canada. However, when that inevitable call does come, you want to be thoroughly prepared to ace your job interview. Typically, this means researching the company, practising your responses in advance, and having a ready list of questions to ask the interviewer to position yourself as a suitable candidate for the job. Why is it important to ask questions at the end of a job interview? At the end of job interviews in Canada, an interviewer usually asks if you have any questions for them. Many newcomers hesitate when it comes to asking the recruiter or hiring manager questions, or worry that it may make them seem unprepared or overenthusiastic. On the contrary, it’s completely acceptable—and even expected—that you’ll have questions for the recruiter. In Canada, interviewers will assess you not only based on how well you answer the interviewer's questions, but also on the questions you ask them. Having questions for the interviewer shows them you’re interested in the role. Well-researched, intelligent questions demonstrate that you’ve done your research about the organization and want to learn more about working there. A job interview isn’t meant to be one-sided. As a newcomer, asking questions is also an opportunity for you to gather information that’ll help you assess whether an organization, team, or the role are a good fit for you. Top questions to ask the interviewer in a job interview It’s always good to have a prepared list of questions to ask at the end of an interview. One rule of thumb to keep in mind while preparing for interviews is to steer clear of obvious questions that can easily be answered with a little bit of online research. In this section, we’ll share some indicative questions you can use or build upon, based on the role you’re applying for and your own interview discussions. Questions to ask about the job What will the person in this position be responsible for? This is a good question to ask if the job description doesn’t have a lot of information about the role and if the job responsibilities haven’t been discussed during the interview. Usually, you’ll have some information about what the job will entail to begin with, so phrase the question in a way that shows what you know. For instance, if you already know that the position is for a social media manager, you might want to ask what social media platforms you’ll be responsible for, or whether you’ll also be required to create video content. What are the qualities you’re looking for in a candidate? While a job description typically mentions some of the skills and qualities a role requires, this question allows you to assess how well your expertise and personality match what the hiring manager is looking for. It will also give you an idea of the qualities or soft skills valued by the organization, such as teamwork or being self-driven. This could be a good opportunity to showcase these same qualities through a well-chosen example. If you’re looking for your first job in Canada, this question can also give you insight into the qualities Canadian employers in a particular industry typically seek in applicants. What would my typical day in this role look like? This question serves a dual purpose. One, it subtly positions you as an insider and shows that you’re truly interested in the position and are already thinking about what working there will be like. Secondly, the response will give you additional information about the job, the stakeholders you’ll engage with, and the things you’ll be responsible for on a daily basis. What are the biggest challenges someone in this position will face? Questions like these are a great way to learn more about the role, potential roadblocks, or dealbreakers. Depending on the interviewer’s response, you may also get an opportunity to elaborate on ways in which you’ve dealt with that particular challenge in your prior roles, helping you to stand out as the ideal candidate. For instance, if managing tight timelines is a challenge you’ll be expected to deal with, sharing how you’ve used your organizational or delegation skills to deliver quality output ahead of time could give you an advantage. What will my immediate priorities or projects be in this role? In addition to giving you more insight into the work you’ll do, this question demonstrates your eagerness to get started. Even more, it allows the interviewer to imagine you in the role and think of you as part of the team. If, during your research, you uncover some exciting new projects the company is planning, such as a product launch, this can also be a good time to ask if you’ll be involved in those or express your interest in doing so. Questions to ask about the organization Can you tell me about the company’s growth plans over the next few years? Showing you’re interested in the organization’s future gives the interviewer confidence that you intend to stick around and aren’t looking at this job as a short-term arrangement. If you’ve read about an upcoming partnership the company is exploring or about the industry being impacted by economic changes, don’t forget to mention it. The recruiter’s response will also give you some idea about where the business is headed, possible team expansions, or new projects in the future. How does this team support the company’s overall objectives? If the job description doesn’t provide a lot of information, this question is a good way to learn both about the organization’s goals and your future team’s responsibilities. If the answer is obvious, like if you’re joining the accounting team, rephrase the question and ask about the team’s key performance indicators instead. This will also give you some insight on the metrics on which your individual performance will be evaluated in the role. How would you describe the company’s values? A company’s values are essentially the traits or beliefs that guide the organization and its people towards their ultimate goal. If you can relate to these values, you’ll be more likely to fit in and work well with others on your team. For instance, if humility is a core company value, it’ll be best not to boast about your achievements in front of your team. Refrain from asking this question if the company values are openly stated on the company website. What do you like the most about working with [company name]? Phrasing some of your questions in a way that asks for the interviewer’s opinion makes them feel that you value their personal insight. You’ll also be more likely to get more relatable answers that may not have been included in the job description. An alternative question along similar lines could be, “What do you find most challenging about working with [company name]?” What is the company culture like? OR How would you describe the company’s management/leadership style? When looking for your first job in Canada, it can be easy to focus on immediate priorities, such as salary, working hours, and travel time. However, it’s also important to keep in mind things that keep you motivated over the long run, such as a company’s culture and leadership style. Asking about these will give you a sense of your future work environment and help you adapt to the culture within your team. Questions to ask about growth and team What opportunities does the company offer for professional development? This question can help you assess if and how the company invests in the success of its people. As a newcomer, access to professional development resources, whether it’s a mentor, personalized training, or online courses, can help you bridge skill gaps, expand your areas of expertise, or prepare for the next step in your career path. Be careful how you phrase this question—it shouldn’t seem like you’re only interested in your own development and not in the position or company! What metrics, goals, or KPIs will be used to evaluate my performance? For most Canadian companies, success needs to be measurable and quantifiable. Asking how your success will be measured shows the interviewer that you’re serious and results-oriented. It also gives you insights about what your performance focus will be. For instance, if you’ll be assessed based on the number of new business prospects you bring in, you may have follow up questions about the average value per prospect. You may also be able to share some of your business development achievements from previous roles. What does the career path look like for someone in this position? When you interview with a company, you’ll likely do some research beforehand to get a glimpse into what your future in the company could be like. For instance, you may look up the interviewer or other team members on LinkedIn and track their career growth. In case this information is unclear or hard to find, it’s also perfectly acceptable to ask the interviewer about your potential career path in the organization. Try not to ask probing questions about lateral growth opportunities or the possibility of moving to another department, as it could lead them to question your interest in the role you’re actually interviewing for. Other questions for the interviewer during a job interview What are the next steps in the hiring process? The hiring process in Canada often involves multiple rounds of interviews to assess if you’re a technical and cultural fit. Once all your other questions are answered, ask what the next round will look like. If possible, get the names and designations of people you’ll meet next so you can research them in advance. If the next step is an assignment or test, ask about timelines so you can plan your week accordingly. When can I expect to hear from you on the next steps/decision? While asking whether you got the job is a big no-no, it’s perfectly okay to ask when you can expect to hear about the outcome of the interview. First, this will show the interviewer that you understand that the decision process takes time, but also that you’re excited to know if you’ve made it to the next step. Second, you may be able to get a subtle hint about how the interview went. If the interviewer seems eager to connect with you again, you likely have a good chance of being selected for the next round. However, these hints aren’t foolproof, so until you hear from the recruiter with a definite yes or no, don’t lose hope and keep up with your preparation. Do you have any concerns or final questions for me? Asking the interviewer if they have any concerns about your candidature gives you a final chance to address points that may negatively impact your chances. If the interviewer brings up a weak spot in your application, use this opportunity to give specific examples about your experience or transferable skills that’ll help you succeed in the role. Additional questions based on conversations during the interview While the list of questions we’ve shared is a good starting point, it’s also very important to listen to what the interviewer says during the interview and ask questions based on that. There’s nothing wrong with asking an occasional follow up question during the conversation to gather more information, as long as you’re not interrupting them or using up too much of the interview time. However, it’s usually best to save your questions for the end. It’s acceptable to take notes during an interview (although you’ll still want to prioritise making eye contact), and this can help you keep track of questions you may want to ask later on. Asking relevant questions based on your conversation is a great way to showcase that you’re an active listener, can think on your feet, and grasp key points on the fly. For instance, if the interviewer indicated that they’ve tried something in the past and it didn’t work, you may want to ask why they think it didn’t succeed or if they’re considering alternative approaches. These questions give you an opportunity to demonstrate what you already know about the company, the business environment, or the latest tools and technology. If you have experience with something similar, you may also want to talk about how you overcame challenges and solved the problem. A job interview isn’t just an opportunity for a potential employer to assess whether your skills are in line with what they are looking for. It’s also a chance for you to learn more about the company and decide whether it is the right fit for you. Towards the end of the interview, most hiring managers will ask if you have any questions for them. Going in prepared with intelligent questions is a great way to stand out as an ideal candidate and will help you land your first job in Canada. Original article located here, published by Arrive. About Arrive Arrive is powered by RBC Ventures Inc, a subsidiary of Royal Bank of Canada. In collaboration with RBC, Arrive is dedicated to helping newcomers achieve their life, career, and financial goals in Canada. An important part of establishing your financial life in Canada is finding the right partner to invest in your financial success. RBC is the largest bank in Canada* and here to be your partner in all of your financial needs. RBC supports Arrive, and with a 150-year commitment to newcomer success in Canada, RBC goes the extra mile in support and funding to ensure that the Arrive newcomer platform is FREE to all. * Based on market capitalization

Augusta University experts talk the business of sports: Name, image and likeness deals start to reshape college athletics

The landscape of college athletics has changed greatly in the past year. For the first time ever, student athletes can now profit from the use their name, image and likeness. It’s been a hot topic subject for years, and now it’s come to fruition. Dr. David Hunt is an associate professor at Augusta University’s Pamplin College of Arts, Humanities, and Social Sciences and also the faculty athletics representative at AU. “It’s different for Division I and for Division II. For DI, there’s bigger audiences and they have bigger followings. But it isn’t D1, D2 and D3 specific; it just seems like people are willing to put more money into programs at the D1 level,” said Hunt. While some may think NIL deals go to the most popular athletes, that’s not always the case. “There are a lot of NIL opportunities for people who don’t have a huge number of followers, because it tends to hit a particular niche,” added Hunt. It’s not just the notoriety on the court or playing field that can garner an NIL deal, but also a player's social media activity and number of followers. These can be a big tool for student athletes receiving compensation for outside business ventures. “It can be cash or it can be in-kind payments. So for some influencers, companies just send them stuff in an effort to get them wearing it on their social media channels.” Some schools and athletic programs have already negotiated deals for an entire team where all the players can benefit from it, but Hunt said it could lead to legal questions over potential conflict of interest deals. “If a basketball program gets a NIL deal for the whole program with Adidas, can an individual player wear Under Armour? Can an athletic department even do that? It can be helpful and beneficial and monetarily advantageous for those students, but it’s not the students doing that,” said Hunt. All the NIL deals, especially those where schools negotiated them, can be used as a recruiting tool to entice athletes to come play for their program. This could create a recruiting advantage for some states over other states. “One university received NIL deals for every single female athlete. That is a huge advantage compared to other universities. So now some universities can recruit students based on the NIL opportunities and if the university has a support program for it, they can say we have a structure in place that you can take advantage of.” This is an important and emerging topic happening in schools and athletic programs across America, and if you’re a journalist looking to know more, then let us help with your questions and coverage. Dr. David Hunt is available to speak with media regarding student athletes now being able to profit from their name, image and likeness – simply click on his icon now to arrange an interview today.

Study reveals the inside of your car is dirtier than the average toilet

A study by researchers in the College of Health and Life Sciences at Aston University and commissioned by Scrap Car Comparison has revealed that the inside of our cars have significantly higher levels of germs on them than the average toilet. The researchers took samples from car interiors with varied ownership histories, to establish bacterial contamination levels within the vehicles and to highlight how thoroughly people clean their cars. The results revealed that motorists should be cleaning the inside of their cars more frequently, with harmful bacteria likely to be discovered in most cars out on the road today. In particular, the study found that the car boot plays host to significantly high levels of bacteria, with E.coli likely to be found in every boot and potentially on your driver’s seat. More commonly known as faecal bacteria, the findings pose a clear concern for anyone that puts their fruit and vegetables in the boot after a trip to the shops or enjoys a drive-thru dinner in the driver’s seat. Dr Jonathan Cox, a senior lecturer in microbiology at Aston University, said: “The results of this study are fascinating, as they help to show that despite cleaning our cars, the older they are, the dirtier they generally are. “This becomes key when thinking about areas such as the car boot or driver’s seat. Many of us have placed loose food shopping in our boots, or dropped the odd crisp onto our seat, before picking it up and eating it.” Other areas tested included the gearstick, dashboard and backseat which also saw higher levels of bacterial contamination than is found on the average domestic toilet. Bacteria found included Pseudomonas, a bacterium with strains that can’t easily be treated with antibiotics and Staph Aureus, a germ associated with coughs and sneezes that in some cases is linked to MRSA. The researchers identified the filthiest areas of a car: 1. Boot - 1,425 bacteria identified 2. Driver’s seat - 649 bacteria identified 3. Gearstick - 407 bacteria identified 4. Back seat - 323 bacteria identified 5. Dashboard - 317 bacteria identified 6. Steering wheel - 146 bacteria identified. There was also a correlation discovered between the age of a car, and the levels of bacteria likely to be found within it. The older cars sampled for the study exhibited higher bacteria loads than those that have been on the road for a shorter amount of time. However, the researchers found that out of all areas of our cars, the steering wheel was generally found to be the cleanest. This high-contact area saw very low levels of bacterial contamination and could be due to the uplift in hand sanitiser use following the COVID-19 pandemic. Dr Cox added: “These results highlight that we should change how we think about our cars and cleanliness. Often, we will clean our cars based on whether they ‘look’ clean versus whether they actually are clean. But you would never even think about eating off your toilet seat. “Upholstery should ideally be given a deep clean and in future I will always clean any used car I might purchase!” Dan Gick, managing director at Scrap Car Comparison, commented: “Taking care of your car, from making sure it’s running well to keeping it clean, all work towards ensuring it has a long life and is a car you love mile after mile. The last thing you want is for your car to become a risk on the roads, as well as a risk to your health. “We hope the results of this study help to highlight the importance of taking good care of your car inside and out. It’s worth thinking about how often you clean the inside of your house and apply the same thought process to your car, especially if you tend to drive it every day”.

The Rise of "Don't Weigh Me" Cards

Stepping on the scale is an inherent part of the American healthcare experience. But does it have to be? Healthcare professionals and patients say not necessarily. For patients struggling with mental health, eating disorders, or other body-related concerns, being forced to step on the scale may cause significant distress. Because of this, the "don't weigh me" card has become increasingly popular. Born from the desire to make a trip to the doctor a more inclusive, less stressful experience, the cards sit in waiting rooms across the country and allow patients to discreetly make a choice: Would I like to be weighed today? Similar in size and shape to a business card, patients may grab a card and hand it to the provider before the start of the appointment, indicating the patient should not be weighed and that any discussion around weight should only occur if permission is given. According to Rebecca Shenkman, MPH, RDN, LDN, director of the MacDonald Center for Obesity Prevention and Education at Villanova University, "to be effective and emphatic providers, it is important to ensure a safe and comfortable environment and for the patient to feel seen and heard—and one such way is asking permission to be weighed (if the medical situation does not require a weight)." "This shows patients that their provider respects their voice and choice” Shenkman says. "'Don't weigh me" cards are a tool that providers should recognize as a good 'pause button' that allows them to re-center patient care on the individual and not have a conversation guided by a scale number or attribute certain symptoms or conditions to weight." Healthcare providers may express weight biases that prevent patients from receiving effective care. The provider may correctly or incorrectly attribute a patient's health concerns to weight and overlook additional factors not correlated with obesity. And while obesity is certainly a chronic and progressive medical disease that should not be ignored, there is more to a patient than a number on a scale. "A barrier to effective healthcare utilization is the prevalence of weight bias towards individuals with obesity. A first step to reducing bias is to acknowledge the issue exists and to recognize one's own biases, which may intentionally or unintentionally result in unfavorable behaviors and attitudes towards individuals with obesity," says Shenkman. While communication about weight-related health is important and many times necessary, to center the dialogue on weight alone means missing out on other potential issues. "By letting patients lead the conversation, having an open dialogue and practicing shared decision-making, and approaching the discussion around eating habits and weight-related behaviors within the broader context of health, patients are likely to be more receptive to medical advice given and seek future care." When patients are allowed to choose to be weighed, they are empowered to make their own decisions surrounding their care. "Don't weigh me" cards help provide peace of mind and a comfortable environment for all people, allowing providers to act more effectively and patients to seek out effective care more often.

The Rise and Fall of Cryptocurrency—Again

2021 saw a meteoric rise in the value of Bitcoin and other cryptocurrencies. In addition, a reported 16% of Americans say they have invested in, traded or used cryptocurrency. But over the last two months, the value has dropped significantly. In September, El Salvador made Bitcoin a legal tender in the country and lost more than 20% of its investment in the four months since, resulting in the International Monetary Fund asking the country to stop its embrace of the currency. We have seen this song and dance before with cryptocurrency values dramatically rising and falling, but where do we go from here?  According to Villanova University's John Sedunov, PhD, an associate professor of finance, people might have invested in crypto as a hedge against rising inflation in the last year because there weren't alternatives to the stock market, which itself has seen its fair share of volatility. If that trend continues and inflation concerns aren't erased, more Americans could invest in crypto.  As crypto continues to work its way into the everyday vernacular, there could be an interesting player to help bring it more mainstream: traditional banks. Recently, JPMorgan announced a $12 billion investment into technology. JPMorgan, which has already launched one of its own digital coins, is ahead of the competition.  "I think if anything is going to lead the way, as backwards as it is, it will be the traditional banks, specifically JPMorgan," Dr. Sedunov said.  "Their reputation will bring competitors to market, allowing for the potential to become more mainstream." One of the key things, Dr. Sedunov notes, is that there needs to be wide knowledge and understanding about how cryptocurrency, and the blockchain where it's stored, actually works.  "Until it's easier to understand and explain and becomes common knowledge, it's going to be a rough ride. It has to get to the point where the utility and ease of use is not trivial. It's very easy to buy it, but to spend or move it, it's a painful process to avoid fees. It has to be easier to access."

Questions about shortages, the supply chain or the economy? Let Augusta’s experts help you find the answers

Across America it seems deliveries are delayed; shelves are looking increasingly bare and there’s an elevated sense of anxiety when it comes to what lies ahead for America’s economy. All of these important topics are forefront in the minds of many and reporters are covering these stories locally and nationally on a daily basis. It's making news, and that’s why we’ve asked Dr. Richard M. Franza, the Dean of the James M. Hull College of Business at Augusta University, a few quick questions that we’re seeing pop up in media coverage across Georgia. Q 1 - What is causing shortages here at home, especially in grocery stores? “Like most things, it is complicated, not a lot of easy answers, but there are clearly a few things in play here. First, companies have been having a hard time finding workers throughout the supply chain. It starts at the producer level, whether it is meat processing plants or producers of other foods and sundry items, production levels are down due to limitations on workers. Then, there have also been worker issues at the transportation/logistics part of the supply chain. Particularly in the area of trucking. So, even when producers have enough supply, they are having difficulty getting it to the stores. Finally, there are issues at the grocery stores themselves. Both at their distribution locations and the store themselves, they have been short on labor unloading and picking items, again delaying products from getting on the shelves. The problem has gotten worse in the past few weeks due to the COVID spikes due to omicron. While omicron is causing less serious results, it appears to be easier to catch. So, lots of people are getting it, making people have to miss work for five days, putting a further crunch on the labor force.” Q 2 - Is this a problem we are likely to see continue through the first quarter or half of the year? “I am optimistic that we can get past the omicron crunch in the coming weeks (by mid to late February, if not sooner). So, things should get better this quarter. However, this will just put us back to where we were pre-omicron, with still some lingering issues. I am hopeful that as the pandemic evolves into an endemic, things will resemble a more normal environment. While this virus has been unpredictable, I am hopeful that we can return to more normal environment no later than the end of the second quarter.” Q 3 - What we can we expect once the pandemic finally subsides? “I am extremely optimistic concerning our economy post-COVID. We have been pretty resilient to date, so I think if COVID transitions to endemic, I think we will see more spending and more people going to work.” If you’ve got more questions to be answered, or if you’d like to speak with him one on one – then let us help. Dr. Richard M. Franza is available to speak with media about important issues like America’s supply chain and the economy – simply click on his icon now to arrange an interview today.

Ask an Expert - Are American Fan-Based Businesses at Risk for Decreased Revenue?

Modern fandom, according to Mike Lewis, is about having a passion for something—a sports team, entertainer, politician, fashion brand, a university—something. Lewis, professor of marketing and faculty director, Emory Marketing and Analytics Center (EmoryMAC) and host of the podcast, Fanalytics, considers fandom important because what people are fans of defines a modern culture. We can laugh at the sports fan with the painted face and the open shirt and the spikes on the sleeves, but the reality is, the traits that drive that level of enthusiasm and commitment are the traits that change the world outside of the arena. Mike Lewis, professor of marketing and director of EmoryMAC To better understand modern fandom and its effect on culture, Lewis, along with Yanwen Wang, Associate Professor of Marketing and Behavioral Science, and Canada Research Chair in Marketing Analytics, University of British Columbia, created EmoryMAC’s “Fandom Analytics Initiative.” The Fandom Analytics Initiative’s first report, Next Generation Fandom Survey, Generation Z: The Lost Generation of Male Sports Fans, published in September 2021, examines the results of a national survey the initiative commissioned. Nearly 1,400 people across four demographic groups—Generation Z, Millennials, Generation X and Baby Boomers—participated in the survey. Is Gen Z the Lost Generation of Male Sports Fans? The results reveal a somewhat troubling trend: Generation Z males (those born between 1990 and 2010) “seem to be increasingly indifferent and negative to traditional sports,” Lewis and Wang write in their report. “Generation Z’s relative lack of passion for sports and other categories is troubling for fandom-based businesses and a curiosity for those interested in the state of American society.” While only 23 percent of Generation Z defined themselves as “avid sports fans,” 42 percent of Millennials did, along with 33 percent of Gen Xers and 31 percent of Baby Boomers. Perhaps even more revealing is the percentage of respondents who considered themselves “anti-sports fans”—a startling 27 percent of Generation Z tagged themselves as “anti-sports” compared to 7 percent of Millennials, 5 percent of Gen X, and 6 percent of Baby Boomers. “That was unexpected,” says Lewis, who thought Generation Z would line up similar to Millennials, given that both groups are digital natives. “I’m still more and more surprised at how different Generation Z is than Millennials and, frankly, everyone else.” When Lewis and Wang took a look at the differences between male and female Generation Zers, things got even more interesting. In traditional sports categories (football, basketball, hockey, baseball, soccer), more Generation Z females defined themselves as “avid sports fans” than did their male counterparts. When it came to football, 20 percent of both Generation Z males and females described themselves as avid fans (the lowest percentage of all the demographic groups). But in every other traditional sport, Generation Z “avid sports fan” females outnumbered males by a discernable margin. Only when it came to eSports did Generation Z males outnumber Generation Z females. “I think there’s a very deep issue going on,” says Lewis. “Something fundamental has shifted.” The survey included questions about fandom-related psychological traits, specifically, community belonging and self-identity. On both, Generation Z males scored lower than Millennials. “The findings related to sports are particularly germane from a cultural perspective,” states the report. “Part of the lack of Generation Z fandom is due to younger individuals having less intense feelings of group belonging in general.” Beyond the Playing Field, How Does Loyalty Shine? While the report doesn’t take a deep dive into the psychology behind Generation Z’s fandom differences, it does note that Generation Z came of age during a time of “ubiquitous social media, dramatic demographic changes, and a hyper-partisan political environment,” they write. “These dramatic changes may fundamentally alter how members of Generation Z engage with cultural industries.” Overall, Millennials were shown to have the “highest preference across all sports,” according to the report. Millennials are not only willing to watch games, but they also enthusiastically wear team gear. Baby Boomers are up for watching games but are less interested in following teams on social media. As it turns out, note the authors, Generation Z isn’t totally disconnected. Across the entertainment categories, Generation Z is similar to other generations. “Sports fandom is the outlier,” they state. In addition to sports, Lewis and Wang looked at six other fandom segments: new and now celebrities, social justice culture, athletic excellence, old school personalities, brand fanatics, and Trump Fans. Lewis points to the fact that whatever one thinks of Donald Trump, he does generate fandom. “That passion for whatever it is—sports, politics, movies, music—that’s really what drives the world,” says Lewis. Because of its importance, fandom is, notes the study, “increasingly actively managed,” whether to garner viewers, money, or votes. Recent trends such as streaming across devices, the ubiquity of social media, an increase in demographic diversity (not to mention a once-in-a-lifetime pandemic), have affected mainstream sports and entertainment. As a result, Lewis believes it’s important to study how fans are changing across generations. Leagues, teams, networks, studios, celebrities, and others need to understand why there is less engagement to formulate strategies for acquiring the next generation of fans. Authors Mike Lewis and Yanwen Wang As sports leagues and teams see more growth opportunities with women and increasingly diverse fan bases, Lewis wonders if some sports teams may alienate their current fan bases by marketing to non-traditional groups. “If you’re a league or a team, you’ve got a real dilemma at this point,” he explains. “If the NFL wants positive press, it has to market to the non-traditional fan segments. If they do that, are the traditional fan segments going to be less interested? Perhaps.” EmoryMAC’s research on fandom in the modern age is ongoing. A study into how eSports’ fandom differs from traditional sports fandom is also in process—as is research on how younger demographic groups see colleges and universities as institutions worthy of fandom. EmoryMAC will continue to make data and insights available on its fandom analytics website. “Looking at the fandom and passion of young groups now will tell you a lot about what the world will look like in 20 years,” says Lewis. I suspect that the era of sports being a mass marketing product and also a cultural unifier is probably going to end. Mike Lewis While that strikes Lewis as sad, he and EmoryMAC are merely following the data. “It may be the reality of where this is going,” he adds. If you're a reporter looking to know more - then let us help. Professor Michael Lewis is an Associate Professor of Marketing at Emory University’s Goizueta Business School. In addition to exploring trends in the overall marketing landscape, Lewis is an expert in sports analytics and marketing. He is available for interview - simply click on his icon to arrange a discussion today.

Wordle: How to Play (and Win) Like a Linguist

Wordle. If you haven’t heard of it, maybe you're on vacation, on a remote island, with no WiFi. If you have, maybe you've seen friends post their results to Twitter or Facebook and wondered what it was about. Maybe you heard about the game from reading the news. Either way, you're probably in deep. But for those of us who are unfamiliar, what is the game and how does it work? Why is it just so popular? And most importantly, how do you win? To answer these questions and more, we spoke with Villanova University professor and linguist Grant Berry, PhD. "I think word games have to some degree always been popular (think of Scrabble or the New York Times crossword, for example), and a big reason for that is that every human being has a lifetime of experience with language—it's familiar ground for all of us who speak a given language," Dr. Berry says. The appeal of the game, then, makes a lot of sense. It's not a new phenomenon. Rather, it's a reimagining of an established pastime. And Wordle is delightfully simple; each player is tasked with guessing a five-letter word in six tries. The tiles turn gray to show when letters are not in the word, yellow when letters are in the word but in the wrong position and green when letters are in the word and in the correct position. "To start, you need to find a five-letter word that maximizes the likelihood that you'll find at least one of the letters in the target word," Dr. Berry says. "I parsed a word list from powerlanguage’s GitHub page (the person who created Wordle), and the five most frequent letters in that list are A (7,646), E (7,563), S (6,612), O (5,007) and R (4,937). There is one word in English that contains all of these: SOARE (a young hawk). This word is not very common, and it's very unlikely to be the correct word, but it should give you a few pieces of the puzzle. Odds are the target word is fairly common, so it's unlikely to have the least common letters: W, V, Z, X, J or Q." Okay, so you should now have one or two correct letters. If not, Dr. Berry recommends "guessing a word (with the other two vowels) that doesn't contain any letters we've tried yet." (Some options are CUMIN, UNTIL, TULIP and INPUT.) After this, start thinking about common sequences of letters in English using the letters you've uncovered. "The ten most common consonant clusters in the dataset were ST, CH, TS, SH, TH, NG, NT, NS, LL and LY. Alternatively, you could appeal to the tendency in English syllable structure to favor what's called sonority sequencing." For those non-linguists out there, sonority sequencing means, "you're more likely to see harder, obstruent sounds like P, T, C, D, B and G followed by more resonant or continuant sounds like R, L, N, H or S at the beginning of syllables (i.e., before a vowel) and the opposite order at the end of syllables (i.e., after a vowel). For example, DRINK follows this principle." And a helpful tip? "If you have an S in the word and not much other information besides vowels, your best bet is to put it at the beginning of the word or at the very end," Dr. Berry says. "The S sound is the only one in English that can form consonant clusters with more than two distinct sounds (e.g., STRAP); it's also commonly found at the end of words in plurals." Congratulations, you're on a roll! "From this point, move forward without forgetting what you've learned so far, meaning that if a letter is gray from a previous guess, do not use it in another guess. Similarly, if a letter was in yellow in a previous guess, use it in a different position. If the new position is wrong, choose a third position that's different from the previous two. This way you aren't throwing away the useful positional information from your previous failed guesses." And there you go. With some expert tips and a bit of calculated guessing, you've uncovered the word of the day! Now that we know what Wordle is and how to win, we talked with Dr. Berry about the puzzle's virality. "The short duration of the game and its simplicity make it easily shareable, and the fact that there's only one word per day makes it easy for a large group of people to have common ground and a central topic of discussion. Those two things combined are the recipe for a viral phenomenon." Ever finish someone's sentence? Wordle taps into that experience and in a sense replicates it. "There’s strong evidence to suggest that human beings are capable of tracking distributions of words and sounds, using them to help predict what's coming next when reading or listening," Dr. Berry says. "In a sense, then, this game is asking players to do what they've always done: use what you know about the structure of words in English alongside feedback you get to come up with the appropriate target." How many tries did it take you to uncover the word of the day? With Dr. Berry’s help, you probably have a score worth bragging about.

Aston University bioenergy expert appointed to Department for Transport Science Advisory Council

Professor Thornley is director of the Energy and Bioproducts Institute at Aston University and the national Supergen Bioenergy Hub She is an international leader in assessing the sustainability of energy systems The Science Advisory Council provides independent, strategic advice and challenge to the Department for Transport. Bioenergy expert and director of the Energy and Bioproducts Institute at Aston University, Professor Patricia Thornley, has been appointed to the science advisory council of the Department for Transport (DfT). Professor Thornley is an international leader in assessing the sustainability of energy systems. Her work contributes to the understanding of how to best use low-carbon technologies to mitigate greenhouse gas emissions linked to climate change. Her work is particularly influential in advising government on energy policy and supporting engineering deployment of low-carbon energy solutions in the UK and worldwide. The Science Advisory Council is a council of external experts who provide independent, strategic advice and challenge to the DfT on science and technology – speaking directly to decision-makers on some of the most important issues of the day that are relevant to the department’s policy and operations. Speaking on her appointment, Professor Thornley said: “I am delighted to take up this role and further develop the links between Aston University and the Department for Transport. "We already engage closely with departments across Whitehall to ensure policy is sustainable and fit for purpose in a net zero world. I’m excited to work with such esteemed colleagues on the DfT Science Advisory Council and to deepen the important relationship between policy and research.” The council examines how science and innovation can support policy in specific areas, working with officials to frame the policy issue and consulting additional subject-specific experts to bring new thinking and evidence into DfT. As a member of the Science Advisory Council Professor Thornley will support the Chief Scientific Adviser in ensuring departmental activity is informed by the best external expertise and evidence, advising and challenging the nature and quality of the DfT’s use of science and technology and identifying relevant emerging issues and trends. Professor Thornley has been recruited alongside four other new members and a new Chair, joining six continuing members. Department for Transport Chief Scientific Adviser, Sarah Sharples, said: “I’m pleased to welcome the new members appointed to the Science Advisory Council. They bring significant additional expertise in key areas that will support DfT’s effective use of science and engineering. "I look forward to working with them.” Professor Thornley’s appointment is for a four-year term ending in 2025.