Economic Analyst from the Federal Reserve Bank of Dallas Lectures at UT Tyler

On Wednesday, April 9th, Senior Economic Education Specialist Princeton Williams from the Federal Reserve Bank of Dallas lectured to several classes within the Economics Department regarding the Federal Reserve Bank in Dallas, and the overall Federal Reserve in the United States and its role within the United States economy. 

Williams joined the Federal Reserve Bank of Dallas in 2006 as senior economic education specialist. Prior to holding this position, he was a high school economics teacher who taught AP macroeconomics and AP microeconomics at Paschal High School in Fort Worth. He coauthored the district's economics curriculum, mentored new economics teachers, and conducted citywide review sessions for AP students.  Williams received a BBA from Southern Methodist University and a MA in economics from the University of Texas at Arlington. During his graduate studies, he interned in the economic and market analysis division of the U.S. Department of Housing and Urban Development. 

Federal Reserve Bank of Dallas 

Williams' position in the Federal Reserve Bank of Dallas consists primarily of public affairs work. He often lectures high school and college students about the utility of the Federal Reserve, and the common misconceptions that the public has about the function of the Federal Reserve. He also leads teacher workshops in the state to improve the economics curriculum within the Texas school system, and he is currently creating an economics curriculum for middle school students in Texas. He also does analysis work over academic work written by economic theorists, mainly by bridging the gap from academia to the public, where said work can often be misconstrued or misinterpreted due to a lack of education in that particular field. 

In the class I was in where he lectured, Issues in Public Policy, several points of discussion were covered. We first discussed the utility of Bitcoin, digital currency that is gaining momentum within the U.S. economic system. Williams finds that the fluid nature of Bitcoin and the uncertainty regarding its value on a day-to-day basis makes it a somewhat unpredictable and possibly unstable alternative for investment in the U.S. We also covered the security of the Federal Reserve Bank in Dallas, where rumors and perceptions of "bank heists" that occur in popular entertainment (Die Hard With a Vengeance, for example), are entirely unfeasible.

Next, there was a discussion over the new Federal Reserve Chairwoman, Janet Yellen; primarily, her strengths and weaknesses within that position in comparison to former Fed chair, Ben Bernanke. Finally, there was a hefty talk over the fiscal policy of the US government, and how the monetary policy of the Federal Reserve Bank in Washington often clash with fiscal policy, and how these issues can be resolved within the next decade. 

We are extremely grateful for the time Williams spent with our economics classes, and hope that he comes back soon to talk with us more about the economic state in the United States and the Federal Reserve's function within this system. 

UT Tyler Student Money Management hosts Life After Graduation workshop

     May 2014 marks a milestone for seniors here at The University of Texas at Tyler. It is time for GRADUATION! The final step to end their college career is approaching. Some have a plan of what they're doing after graduations while others are still trying to figure it out. There are even those that are lucky enough to have jobs lined up. If you still haven't decided what you're going to do, don't worry! The UT Tyler Student Money Management program is hosting an event called "Life After Graduation."

UT Tyler Student Money Management hosts "Eating Healthy on a Budget"

     As a college student, there is really no time nor is there money to consider healthy eating. There are times where life is going at a fast pace. Deadlines approach and the dollar menu may be faster and more efficient. These habits should be reconsidered and there are resources available to you in the university to help you if you'd like! The University of Texas at Tyler Student Money Management is hosting their event "Eating Healthy on a Budget" to inform you!

Winter is coming: Carver's guide to saving money during the cold months

It’s about that time of year, again, when the days start to get a little cooler, and the nights may even become chilly.  September, October, and November are my favorite time of year.  The leaves begin to change color, the air gets cooler, and the humidity begins to break.  We don’t really have the most brutal winters here at UT Tyler, but it does get pretty cold by Texas standards, and with this cold comes a couple of costly issues, like heating, and having to use more artificial lighting.  Thus, I have decided to compile a list of helpful tips to help you survive the brutal Texas winter.

·         Adjust your lighting

This won’t be your biggest problem, but it does get darker earlier during the winter, so you will begin to have to use your lights a little more, and your electricity bill will likely get a little higher.  To counteract this, try replacing your light bulbs with fluorescent bulbs to minimize electricity use.  This will save you some money.

·         Start getting ready to layer your clothing

Obviously, it will begin to get a little colder.  If you aren’t prepared to start layering your clothing, then maybe start buying jackets, long sleeve shirts, and jeans.  If you start purchasing one item at a time now, then you will be perfectly prepared by December.

·         Set your thermostat lower than what you want

During the summer, you have to be careful about setting your thermostat too low because it is so hot outside.  However, the winter creates the exact opposite situation.  No one likes a freezing house, but if you set your temperature a few degrees lower than what you really want, then you will save more than you might think!

·         Prepare vehicles and such 

Automobiles are extremely susceptible to issues during cold weather.  For one, purchase an ice scraper to get frost off of your windshield in the morning.  Additionally, you should check your car’s tires, coolant, and brakes to make sure everything can withstand the drop in temperature.

·         If you plan to travel, pack accordingly 

If you travel during the winter, then read weather forecasts for the places you will be traveling and make sure you are prepared for the area.  Don’t dress for a Texas winter if you’re going to be in New York for Christmas.

·         Seal any leaks in your doors or windows

Make sure that your doors and windows properly seal the cold weather outside, otherwise your electricity bills will go through the roof, and it will be way too cold to be inside. 

·         Prepare plants, pets, and what have you for cold weather.

If you have pets or plants that stay outside during the day, you may want to consider moving them inside, or providing some form of shelter from the cold like a dog house, or maybe even a sweater for your animals.  For plants, your best bet is just to find a spot for them in your house.

This isn't an all-inclusive list, however hopefully with this you can begin to get an idea of everything required to save some cash during the cold winter months!

How to work while attending college at UT Tyler

College is expensive, and the price isn’t going down.  It is not uncommon for college students now to have to work to pay rent and buy groceries while attending college. In fact, just over 74% of America's college students were reported to be holding down a part time job while attending college in 2012. If you are or you will be one of those 74%, then hopefully this post will provide you some basic tips for how to work while attending school.  

·   
  Keep a good schedule of classes and work – It’s crucial that you keep an accurate schedule of your work and your classes so that you know where you are supposed to be and when.  It is also useful so that if you are trying to make plans with friends, you have an easily accessible reference for what your plans are. 

·         Stay on top of your homework – Homework piles up quick when you are constantly pushing it back.  You may not have a lot of time for homework, and when you do have time you will likely not feel like working on it at all, but you have to. Otherwise, you are undermining the ultimate reason you are working in the first place.  Staying on top of your school work means that you will not have to pull an all nighter just to finish a paper.

·    
 Know your priorities – There will inevitably be times that you would rather go out with your friends instead of going to work or working on a project.  Sometimes it just seems really easy to “call in sick” and get a night off to spend with the friends, but this ultimately will hurt you, as you will fall behind in your classes and in your work.

·         Sleep – It will sometimes seem like you need to stay up until 3 or 4 AM to finish a paper, but sleep is something that you can’t replace.  Most scientists will agree that sleep is necessary to be productive and for good health.  You cannot work if you are too tired to move, or if your health begins to deteriorate because you haven’t allowed your body to rest enough.

      Eat regularly – Like sleep, food is something that you cannot neglect.  Your body requires food to produce energy, so when you skip a meal, like breakfast, because you are “running late,” your body has no basis to begin its day.  Eating regularly is key if you want to make sure that you’re at your best all day.

·    
 Accept that life won’t be perfect – Something I notice about people who work while in school is that they become frustrated when they don’t have enough money to purchase something that they want, or they become angry at the end of the month when they are out of money to buy groceries.  My advice to those of you who are or will be working in school is to accept that there will be times when you don’t have everything that you want.  The key is to just take a deep breath, and keep moving.  Things will get better, it’s just a matter of how you look at your current situation.

·    
 Budget, budget, budget – This is crucial if you want to minimize feelings mentioned in the point above.  You will likely not be paid too much, but if you are budgeting your money and sticking to your budget, then you will be much happier.  Yes, this means that there will likely be 1 or 2 fewer midnight trips to McDonald’s just because you want a McFlurry, but you will thank yourself when you still have money to buy milk at the end of the month.  There are also multiple budgeting websites like this to help you.

·    
 Take some time for yourself – Far too often people burn themselves out while working and going to school.  To ensure that this doesn't happen to you, remember to take some time for yourself.  Even if this just means watching an episode or two of your favorite TV show, or reading a couple of chapters from a book, it is important to take some “Me time.” It also helps you to retain some mental stability.

      If you want to work while in college, it will be hard.  There will be nights where you get home and all you want to do is crash for several days.  However, when you have your diploma and a degree that allows you to receive a high paying job, you will be happy you did it.  If you have additional questions, feel free to stop by the university website, where we now have a department specific to student money management!

What to do with your financial aid refund

On August 16th, the financial aid award packages were added to our tuition bills. Everyone that was expecting financial aid was anxious.

If you haven't checked and made sure your myUTTyler account shows all the awards you have accepted on your account, you should do that and follow up if you think there's been an error.

Aw yiss! Payments made!

It is a wonderful sight

Beginning August 30th, any remaining aid money that didn't pay for your tuition will be refunded to you. Once you see you have extra money, a million things you could do with it will cross your mind. So what shall you do with this gift?

1. Buy a car.
If you haven't bought a car and don't live within walking distance of campus, this is your opportunity to buy a car. If you have a decent income from your part-time job, the amount from your financial aid package will be a good sum for a down payment. Shop around to make sure you have a good deal.

Take a parent or a friend you completely trust with cars and test drive different models. Ask around to find out where the best deal on car insurance is.  Remember that you're going to pay for more than just the car itself: title, inspection, registration and insurance will be an added cost. Also, gas, oil changes, tires and any kind of repairs should be expected.

If you already have a car, but are constantly having issues with it, trade it in and give an extra payment with your refund. Get something more fuel efficient, with more seats (carpool and ask your friends to help you out with gas every so often) and safer (your insurance is cheaper with a more safe vehicle than, say, a sports car) to save some money.

2. Give to a charity
Find out what it is that you want to change and find the (reputable) charity that does that. Once you donate, you get a feeling of goodwill (those warm fuzzies) and if you have a job and have to report your taxes, the donation is tax-deductible!

3. Buy a bicycle
If you live on campus or you just want to cut the time it takes you to walk between your classes and get a good workout out of it, then buy a bike.

There's tons of bikes on campus and almost every single building has a bike rack at the entrance. It improves your health, takes less time, and you won't be tempted to drive from one building to another (and waste gas in the process).

4. Save!
If you want to put your money away for a rainy day, put it into a savings account. Shop around both online and at local branches. Compare the advantages and benefits each give you.

Look at the fine print and make sure you won't be charged for things you weren't aware of. Make sure there aren't any penalties for withdrawing money because you're saving for an emergency or when your own funds fall short during the semester.

If you want to put that money away for a long time, think about putting it into a Roth IRA. It'll eventually grow (with some help from your income) into a good sum for your retirement. It's something to think about if you want your money to be put to good use and you're sure you won't need it anytime soon. We aren't going to be young forever, you know.

5. Buy an ice cream truck

If you want to be the cool kid on the block and always have a stash of ice cream, this is for you. It will be summer year-round! It's a great ice breaker and you'll be the most well known person for miles.

Okay, don't do this. I'm not telling you what to do; if you really want an ice cream truck, I can't stop you. But, seriously, don't do this. 


Christmas comes early for those of us that receive financial aid refunds and the endless opportunities that come with that refund are always a cause for celebration. Be smart with your money and remember that later in the semester, you might need it (but don't just stash it in your sock drawer).

What are you going to do with your financial aid refund? 

Broke college student heaven

       The other day, I decided that I would take a trip to The Dollar Tree here in Tyler. I was getting my oil changed, and it was going to be a while. So, I figured that instead of staying there for a few hours, I would walk over to the nearby dollar store.When I walked in, I noticed that it was much larger than any other dollar store that I have seen!

       So, me and my friends decided to walk around and see what kind of things that you could buy for a dollar. My eyes were opened up to a whole new world! I was wasting so much money before on certain things. This store had EVERYTHING, and I'm not even kidding. They had everything from batteries, to cups, to headphones to pretty much anything else you can think of. I felt like I was in college student heaven.

       I was there for at least a solid hour, and I bought so many things and I spent only a little bit of money. I loved going somewhere and not feeling bad for spending money! It was amazing.  If you ever are in need of something simple like batteries for a remote, bowls or plates, or even candy. There was so much candy, and it was all only $1..

       If any of you plan to ever save money, go to the dollar store. You will save a ton of money. You see, I'm trying to save up some money to go on a trip this summer, so I'm saving pretty much all of my extra money. Now that I've discovered the dollar store, I can finally buy school supplies and just stuff and still have money. I say its a win-win scenario for everyone.

        What's the best item that you've ever gotten for a dollar? Leave a comment below! :D