A K LEO T H E
MONDAY, MARCH 11 to TUESDAY MARCH 12, 2013 VOLUME 108 ISSUE 64
Serving the students of the University of Hawai‘i at Mānoa.
V O I C E
www.kaleo.org
MONEY ISSUE
1922
2013
03/11 KA LEO o hawai‘i
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ka leo MOney issue
N MO
ISS EY
Welcome to the Ka Leo Money issue
UE
PAIGE TAKEYA Managing Editor
2013 1922 1 03/1 ‘i awai Ooh KA LE
Are you in need of a fi nancial makeover? Try out this quiz, and see where you fall on the spendthrift scale.
Ever wondered why people call money “cheese” or “racks”? Ka Leo breaks down the vocabulary for you.
All this and more at kaleo.org
Don’t worr y – we’ve still got a few fun facts about coin history and a battle over the relevance of the penny. Check online today to see some web -only stories that focus on fashion savings and quiz whether you are in need of a financial inter vention. Special thanks to FIM Program Coordinator Stacy Miyashiro for her generous assistance toward this issue.
Tips on saving C A ITLIN K EL LY News Editor
Seeking to look your best without spending a lot? We have some suggestions for you to try.
For many of us, college marks our first step toward independence both socially and economically. In a world where we are faced with large student loans and rising tuition, we must make responsible decisions and spend or save our money wisely.
It is in this spirit that Ka L eo has put together this Money Issue providing advice to keep you on the correct financial track. In partnership with the University of Hawai‘i at Mānoa Financial Literacy Group, Ka L eo has compiled a number of tips and warnings designed to help you make smart choices on everything from credit cards to checking accounts.
College students are known for being strapped for cash, but using these simple tips will help keep some extra money in your pocket.
S PA R E S OM E C H A N G E A little extra change can go a long way. At the end of each day, take the coins from the bottom of your bag or pockets and put them in a jar. Refrain from taking any change out, and you’ll be surprised at the amount of money you can save in a month. When you’re ready to exchange the coins for bills, roll them yourself and take them to a bank to avoid fees charged by the machines at grocery stores.
S H O P O N A F U L L S T OM AC H If you’re hungry while walking through the mall or the grocery store, it’s natural that you’ll want to take a break at a restaurant and have a bite to eat. But doing this too often will leave your wallet starving instead. Eat a meal at home and carry
a snack in your bag to stave off hungry spending.
B R I N G A F RU GA L F R I E N D When you go shopping, it’s helpful to go with a friend who will prevent you from going overboard; having a second pair of eyes will ensure that you only buy what’s necessary. Be careful though, because if your shopping partner is too extravagant, this plan could easily backfire.
SPLIT THE COST Portions at many restaurants are typically large enough for two. Instead of keeping it all to yourself, share entrees when you’re out with friends. Make sure that the restaurant doesn’t charge extra for splitting before you ask for the extra plate.
T R A N S P O R TAT I O N Get some fresh air and walk to school or the store if you can. Not driving will save you the cost of parking and gas. If you pay your student fees at the beginning of the semester, you can get a U-Pass, making it even easier to get from point A to point B in a cost-efficient manner.
Instead of making a daily trip to Starbucks, try brewing coffee at home to save money. ISMAEL MA KA LEO O HAWAI‘I
Page 3 | Ka Leo | Monday, march 11 2013
ka leo MOney issue K A LEO T H E
V O I C E
Ka Leo O Hawai‘i University of Hawai‘i at Mānoa 2445 Campus Road Hemenway Hall 107 Honolulu, HI 96822
Newsroom (808) 956-7043 Advertising (808) 956-7043 Facsimile (808) 956-9962 E-mail kaleo@kaleo.org Web site www.kaleo.org
EDITORIAL STAFF Interim Editor in Chief Marc Arakaki Managing Editor Paige Takeya Co-Assc Chief Copy Editor Joseph Han Co-Assc Chief Copy Editor Kim Clark Design Editor Bianca Bystrom Pino Assc Design Editor Emily Boyd News Editor Caitlin Kelly Assc News Editor Alex Bitter Features Editor Caitlin Kuroda Assc Features Editor Nicolyn Charlot Opinions Editor Sarah Nishioka Assc Opinions Editor Tim Metra Sports Editor Joey Ramirez Assc Sports Editor Jeremy Nitta Comics Editor Nicholas Smith Photo Editor Nik Seu Assc Photo Editor Chasen Davis Special Issues Editor Ariel Ramos Web Specialist Blake Tolentino Web Editor Quincy Greenheck
ADVERTISING E-mail advertising@kaleo.org Ad Manager Regina Zabanal Marketing Director Reece Farinas PR Coordinator Tianna Barbier Ka Leo O Hawai‘i is the campus newspaper of the University of Hawai‘i at Mānoa. It is published by the Board of Publications three times a week except on holidays and during exam periods. Circulation is 10,000. Ka Leo is also published once a week during summer sessions with a circulation of 5,000. Ka Leo is funded by student fees and advertising. Its editorial content reflects only the views of its writers, reporters, columnists and editors, who are solely responsible for its content. No material that appears in Ka Leo may be reprinted or republished in any medium without permission. The first newsstand copy is free; for additional copies, please visit Ka Leo. Subscription rates are $50 for one semester and $85 for one year. ©2012 Board of Publications.
ADMINISTRATION The Board of Publications, a student organization chartered by the University of Hawai‘i Board of Regents, publishes Ka Leo O Hawai‘i. Issues or concerns can be reported to the board (Susan Lin, chair; Rebekah Carroll, vice chair; or Esther Fung, treasurer) via bop@hawaii.edu. Visit www.kaleo.org/board_of_publications
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maniac? We ARE LOOKING FOR YOU
The Manoa Maniacs are commi ed to ins lling, PRIDE, UNITY, and SPIRIT into the student body at the University of Hawaii Manoa. Our goal is to create an atmosphere at athle c events and on campus that is exci ng, posi ve and energized. We hope to be the bridge that unites the student body with the University of Hawii athle c teams and players. Together we will prove to be unstoppable.
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* Annual Percentage Rate. Percentage includes 0.25% reduction for automatic payment. 3.77% rate applies to 36-month (or less) Personal Loan and is the lowest rate available. 2.00% discount off qualifying rate applies to applicants with credit scores less than 720. $25,000 maximum loan amount. New or existing UHFCU Checking account and e.Statements required to qualify for special rate. Offer begins 3/1/13 and ends 4/30/13. Loan must fund by 4/30/13. Rate may vary depending on each individual’s credit history and underwriting factors. Payment example: Loan amount of $25,000 at 3.77% for 36 months would have a monthly principal and interest payment of $735.54. Rates, programs, terms, and conditions are subject to change at any time without notice. Certain restrictions apply.
Page 4 | Ka Leo | monday, march 11 2013
ka leo MOney issue Budget for dummies CAITLIN K ELLY News Editor Having a budget takes little time but can go a long way. Though it may sound intimidating, these simple steps will steer you in the right direction.
C R E AT E A B U D G E T First, decide if you want your budget to span over a month, semester or year. Then make a list of the money you will receive from jobs, scholarships, fi nancial aid, student loans and any fi nancial help you will receive from your parents within your chosen timeframe. Finally, estimate the amount of money that you will spend during your budget period. Expenses that should be taken into account are tuition, books, supplies, housing, utilities, food, entertainment, transportation, emergencies, personal expenses and any other fees you think you might incur. Keeping receipts will make this process easier and more accurate. Ideally, your expenses should not exceed your total income.
STICK TO IT Living within your means is easier said than done. However, a plan and some willpower will help you abide by your budget. Try using cash for most transactions. Handing over a $100 bill when you’re out clothes shopping is likely to seem more real than simply swiping a debit card. Saving to treat yourself every once in a while is a good way to maintain motivation. Allot some money for rewards, whether it’s a night out with friends or a new gadget. That way, sticking to your budget will be associated with good feelings. Life can change, so be sure to evaluate your budget periodically. Events such as a new job, the loss of a job or receiving additional financial aid are all reasons to reassess your financial plan. Remember that a budget doesn’t have to be a fun-killer; it’s a tool that will ensure your future is richer than the present.
MAKE YOUR BUDGE T
Month/Semester/Year Expenses
Income
Tuition: $_____
JOB: $_____
+ Books & Supplies: $____ + housing: $_____ + + Transportation: $_____ + = Total Expenses: $_____
+ Scholarships: $_____ + Financial Aid: $_____ + Student loans: $_____ + other income: $_____
food & entertainment: $___
PERSONAL EXPENSES: $_____
<
= Total Income: $_____
Page 5 | Ka Leo | monday, march 11 2013
ka leo MOney issue Banking 101
Ka Leo is recruiting
Advertising Account Executives for our growing program.
Apply Today!
808-956-7043 www.kaleo.org/jobs
NEWMAN CENTER - HOLY SPIRIT PARISH CATHOLIC CAMPUS MINISTRY
Your home away from home... a place to pray, study, rest, and make new friends.
COURTESY
OF S TACY M IYASHIRO UH Mānoa Financial Literacy Group
1941 East-West Road, Honolulu, HI 96822 808-988-6222 Mass Schedule: Student Mass: Wed, 9:00 PM Mon: 12:10 PM (Eucharistic Service)/ Tues-Fri: 12:10 PM Saturday: 5:00 PM / Sunday: 9:00 & 11:00 AM, 5:00 PM
C H E C K I N G AC C O U N T S
Funds stored in a checking accont are always available to you. With low to no fees for withdrawals – from debit cards, checks, instant transfers or ATMs – there are also no limitations on the number of withdrawals or deposits you can make. Certain banks offer lower lower checking account interest rates than those of saving accounts.
“MARCH MADNESS” AUTO LOAN SALE
SAV I N G S AC CO U N T S The main purpose of a savings account is exactly as the name suggests. You can earn interest, albeit with a limited number of transactions per month. Fees depend on whether you exceed monthly withdrawals or fail to keep a minimum balance.
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B E N E F I T S O F BA N K I N G The security offered by a bank ensures that the United States government protects your savings and guarantees that your money is recoverable or replaceable. It is convenient to have your money in one location, carry a debit card rather than cash, pay bills online and access funds at various locations.
Authentic Nepalese & Indian Cusine
15% Off w/ UH ID BYOB No Corkage Indoor & Outdoor Seating Reservations for Parties
HELPFUL TIPS Know what banks ask for and what certain plans may offer you. Opening deposits can range from nothing to $100. Identification, such as a Social Security Number or a driver’s license and contact information, will also be required.
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Lunch:Tues-Fri 11AM-2PM Dinner: Mon-Sun 5PM-10PM Live Entertainment & Belly Dancing every 1st and 3rd Sunday of the Month
* Annual Percentage Rate. Percentage includes 0.25% reduction for automatic payment. 1.99% rate applies to 36-month (or less) Auto Loan and is the lowest rate available. 1.00% discount off qualifying rate applies to loan terms greater than 36 months (up to 60 months) and/or applicants with credit scores less than 720. Rates are good from 3/1/13 to 3/31/13. Loan must close by 4/30/13 and can be used for new or pre-owned vehicle purchases at any dealership or to refinance an existing auto loan that is with another financial institution. UHFCU Checking account and e.Statements required to qualify for special rate. Rate may vary depending on each individual’s credit history and underwriting factors. Rates, programs, terms, and conditions are subject to change at any time without notice. Certain restrictions apply.
Page 6 | Ka Leo | monday, March 11 2013
ka leo MOney issue
$1 US Dollar = South Korean Won - 1,089.6
Tips to stay a responsible spender COURTESY
OF S TACY M IYASHIRO UH Mānoa Financial Literacy Group
K N OW YO U R S P E N D I N G TRIGGERS Before making a purchase, consider if it is something you want or need. If it’s a want, decide if you are buying it based on how you are feeling at the time.
Japanese Yen - 95.81
U S E YO U R H A B I T S T O YO U R A DVA N TAG E
Chinese Yuan - 6.21
When shopping, never grab something unless you are certain that you need it. Shoppers who pick up items are 80 percent more likely to buy those items.
B E P ROAC T I V E W I T H MO N E Y I S S U E S
British Pound - .67 Mexican Peso - 12.63
Euro - 0.77
Canadian Dollar - 1.03 * as of Sunday March 10
When making a budget, write a specific and detailed goals statement addressing what your goals are, when you will accomplish them by, who will help you achieve them and how you will achieve them. The more specific your goal statement, the more likely you are to accomplish it. Use a spreadsheet or notebook, and track your expenses for one month. At the end of the month, total your expenses by category and look at how much was spent. You will be surprised at how quickly the little things add up and where your money really goes. After tracking expenses, it is easier to create a budget based on what you spend in different categories. Do the same for another month. Then compare your actual spending to your budget, checking if you kept to your budget and making adjustments if you did not.
PAY YO U R S E L F F I R S T Set up an automatic deposit into a savings account. If it comes out of your paycheck before you even get it, it won’t be missed.
ISMAEL MA / KA LEO O HAWAI‘I
If you need cash, go to your bank or get cash back after a debit card purchase to avoid ATM fees.
Tips to remember 1. Do not spend more than you earn. 2. You should never put anything on a credit card that you know you can’t pay off at the end of the month. Emergencies happen, but prepare with savings to handle them. 3. Remember to pay yourself first. Include money in your budget that needs to be set aside into your savings. You should have at least three months’ salary set aside for emergencies, although having one year set aside is preferable.
4. Don’t forget to budget for those items that may not occur every month, such as car repairs or Christmas gifts. 5. Budget for entertainment. It is okay for you to have a life, but do it sensibly. Put in your budget money for a night out, dinner and a movie or a sports game. Just make sure that you stay within your means and don’t get carried away with it. Also, look for less expensive alternatives, such as getting take out and renting a movie instead.
Page 7 | Ka Leo | Monday, March 11 2013
ka leo MOney issue Why Should I Hire you? Do you like ikke bbusiness, usi usi sine n ss ne ss,, marketing mark ma rke rk ke tin t in ing ng and and promotions? promo omot om o t ions ioons n ? Then T check Ka Leo! Wee are ooutt the ou t e options th op ti opti op t io iion ons at on ons a K a LLe eoo!! W arre recruiting re ecrr ui ui ti t ing nng g Public Relations Representatives Reepre presentatives for fo or our o r ggr ou growing ro program.
The UH Foundation is seeking 60 volunteers to participate in an exciting fundraiser! Funds will help the UH Manoa Arts & Minds division
Apply Today!
www.kaleo.org/jobs
Friday March 22, 2013 at Ala Moana Shopping Center from 6:00 pm - 9:00 pm Volunteers will be assigned to participating stores (Gucci, Dior, Ferragamo, Prada, Louis Vuitton, etc.) to stamp guests passports, take tickets, work the silent auction, and greet guests.
VOLUNTEERS MUST BE 21 YEARS OF AGE OR OLDER. To volunteer at this event call #808-956-9340 A Service Learning Program public service announcement. For other volunteer opportunities contact Service Learning Program at 956-4641.
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Page 8 | Ka Leo | Monday, March. 11 2013
ka leo MOney issue Credit Card 101
How do you build good credit?
COURTESY OF S TACY M IYASHIRO UH Mānoa Financial Literacy Group
Should I get a credit card? d?
ADVANTAGES • • • • 1. Pay your bills on time. Even if you miss the deadline by one minute, it is still considered late, and you will incur late and penalty fees. 2. Pay your balance in full. Pay off your monthly credit card balances in full and on time. If you can’t pay in full, make as large a payment as you can. If you only pay the minimum, you will end up spending a lot more, and this can quickly snowball, leaving you in trouble. 3. Undercharge. Don’t charge as much as your limit allows. Stay below 80 percent of your credit limit. If you go over, credit companies will start to fl ag your account as a person who is probably in trouble, and it will lower your credit score. 4. Don’t over-extend yourself. Borrow only what you need and know what you’re fi nancing. Be realistic. Estimate your income in your chosen career, then ask yourself: Can I pay it off? Factor in living expenses.
NIK SEU AND ISMAEL MA KA LEO O HAWAI‘I
• • • • •
Convenient Build good credit Can make reservations (airlines, hotels, car rentals tals etc. etc require a credit card) Safer than cash: If someone steals your cash, you cannot recover it; if someone steals and uses your credit card, you may only be responsible for $50 of the charges Available cash in emergencies Limited short-term interest-free st-free loan loa Online purchases safety ty Protection against losss Bonus points
What to look for in a credit card • • • • •
Long grace period (at least 20 days) Interest calculated using the Average Daily Balance method Low interest rate No annual fee Low penalty fees
What questions should you ask before paying with a credit card? • • • • •
• • •
DISADVA DI SADVA ANTAGES S DISADVANTAGES
Makes it easy to overspend Expensive way to borrow Trading future consumption for current consumption • Easy to endanger your credit and identity
•
Is this something I need or something I want? Can I pay for it without hurting my exist ing cash fl ow? Would this cost less if I paid in cash? Do I understand all the terms and obliga tions of using credit? If I can’t afford it now, will I be able to af ford it at the end of the month? Is it safe to use my credit card here?
Advertising@kaleo.org | Regina Zabanal Student Ad Manager |Reece Farinas Marketing Director
Page 9 | Ka Leo | Monday, March 11 2013
Manoa Valley and Marketplace
Enjoy a day of shopping and the lovely natural environment of the valley
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Take the 6 Woodlawn Dr
Take the Faculty Shuttle from QLC
MANOA MARKETPLACE | 808-988-4310
Manoa Valley & Marketplace are located in a beautiful natural environment near the University of Hawaii at Manoa. UH Manoa provides shuttle transportation for students and faculty to utilize whether they are going shopping and dining, or returning home around the neighborhood.
Page 10 | Ka Leo | monday, march 11 2013
ka leo MOney issue
Eat for cheap INDIA CAFE - $7.4 0 CA MP US CEN T ER - $7.4 9 DA SP O T - $8
GOVINDAâ&#x20AC;&#x2122;S - $8.10 â&#x2030; â&#x2030; â&#x2030;
Wondering where the cheapest eats on campus are? Ka Leo has compiled a sampling of your dining and beverage options to guide you in your quest to save money and eat well.
Vegetarian meal
Meatless options abound on campus. If you want to save money, do it the French way and get a crepe from Le Crepe Cafe. If you prefer a more hearty meal, the regular sized plate lunches at Govindaâ&#x20AC;&#x2122;s are expensive but heaping.
L E CREPE CAFE - $5.99
Chicken plate lunch Whether youâ&#x20AC;&#x2122;re looking for chicken katsu, baked chicken or grilled garlic chicken, you might want to wait until dinner: Blue Truck Teppanyaki offers the cheapest deal. L&L may give big portions, but their prices are also a little larger to compensate.
T HE COFFEE BE A N - $2.75 SIMP LY T O GO - $1.79 T HE CURB - $2.75
S TARBUCKS - $2.25
CA MP US CEN T ER - $6.79
L & L - $7.50
BL UE T RUCK T EP PA N YA K I - $6
MICHIâ&#x20AC;&#x2122;S COOK ING FRESH F OR YOU - $7 A JA BEN T O - $6.24
Coffee Caffeine ďŹ ends will want to forego gourmet blends and stick with Simply to Go if they want to save money. The Curb and The Coffee Bean charge 50 cents more for a tall Americano than Starbucks does. Compiled by Paige Takeya, Bianca Bystrom Pino, Joseph Han and Caitlin Kuroda Managing Editor, Design Editor, Associate Chief Copy Editor and Features Editor
Page 11 | Ka Leo | Monday, march 11 2013
ka leo MOney issue
Open 24 hours a day, 5 days a week (Sun. 12 pm - Frid. 6 pm; Sat. 12 pm - 6pm)
• Conference rooms for students, staff & faculty with multimedia equipment • Exam proctoring services for instructors and students • Over 11,000 DVDs available to rent • Wi-Fi and open air balconies for
http://gohere.manoa.hawaii.edu studying
USE YOUR ID LIKE A DEBIT CARD AND EARN MONEY! Flash Cash is perfect for budgeting and reloading retail points!
INTERESTED IN A MANAGERIAL POSITION IN RADIO OR UH PRODUCTIONS? Receive 5% extra in bonus points with a minimum $25.00 deposit OR earn 10% extra in bonus points with a $75.00 deposit Flash Cash can be added at any time! Campus Center Ticket, Information and ID Office Rm 212 Mon - Fri 8:30am - 4:30pm m
uhmdining.com
Now accep ng applica ons for General Manager Posi ons for KTUH and UH Produc ons Open to all UH Manoa fee-paying students, great for resume. Applica ons available online and in Campus Center Room 208. APPLICATIONS DUE FRIDAY MARCH. 22RD BY 4:30 PM. Sponsored by the Broadcast Communica on Authority. Contact informa on bca@hawaii.edu or 956-9504 h p://uhbca.wordpress.com/
Page 12 | Ka Leo | Monday, March 11 2013
ka leo MOney issue NEED FUNDING? WE CAN HELP!
University of Hawaii at Manoa
Student Rec Services
ASUH research award
This opportunity is available to all undergraduate students pursuing research projects and attending conferences. Depending on your application, you may be awarded up to $1,000.
TO FIND OUT MORE, SCAN HERE!
This opportunity was created to assist undergraduate students financially for graduate test costs and/or prep courses. Depending on your application, you may be awarded up to $750.
TO FIND OUT MORE, SCAN HERE!
ASUH GRADUATe TEST PREP AWARD
The Associated Students of the University of Hawai’i at Mānoa 2465 Campus Road · Campus Center 211A Honolulu, HI 96822-2216 Phone: 808.956.4822 · Fax: (808) 956-5360
Get Active! Student Recreation Services 1337 Lower Campus Rd. Honolulu, Hawaii 96822
Hours: Mon - Fri: 8:00 am - 6:00 pm Sat: 8:00 am - 12:00 pm
(808) 956-6468
for all our schedules and events visit us at facebook.com/UHMRECSERV
Student Special: 10% month to month prepay or... 3 months/ 1 month free
Kaimuki Self Storage 2919 Kapiolani Blvd Ste 13 Honolulu, HI 96826 Phone: (808) 723-0337 www.kaimukistorage.com
Weird money A LEX BIT TER Associate A i News N Edi Editor
Ask anyone what money looks like, and you’ll probably hear about banknotes and round or multisided coins. But things weren’t always this regular.
KISSI PENNY
The Kissi Penny originated in colonial West A frica around the 1880s and derives its name from the K issi people who created it. Its most unique feature is its shape – the coin, often forged by a blacksmith, would consist of a long iron rod f lattened at one end and separated into two points at the other. This odd shape actually functioned as a security device, as no one could take metal from the coin without destroying or mangling it. According to Kissi custom, each coin was said to have a soul within it. If the coin was broken, something that was common due to its irregular size, the soul could be restored by the original blacksmith, acting as a witch doctor. W hen they were in circulation, individual pennies had limited value. Often, they were bundled in groups of 20 before a purchase was made. A sum of 100 bundles, for instance, was about enough to buy a cow 100 years ago. The K issi pennies were officially withdrawn from circulation by various colonizing forces but were still in use as recently as the 1960s.
Page 13 | Ka Leo | monday, march 11 2013
ka leo MOney issue
The textbook problem
Why Should I Hire you?
Sarah Nishioka Opinions Editor
Doo yyou ou like lik ike th thee int iinternet, nte terrn nett, ma m making kinng ki ng website websites, tees, reaatiting ing apps, appps,, wor o king or ngg oon n Fa Face ceebo cebo book okk? Th TThen enn ccheck he creating working Facebook? oou ut th tthe hee options opt op ptition tions ons att K a LLeo. eo. o W out Ka We are recruiting We eb Developers Devellope Deve lopers rs ffor or oour or ur ggrowing r Web program.
According to Forbes, college textbooks depreciate in value by about 70 percent after purchase, and that’s assuming bookstores have a buy-back policy. Book rental services were developed to provide students with alternative book-buying options, but are they really worth the trouble?
www.kaleo.org/jobs w
Hale Haumana o ke Akua
Dinner & SerVice Project!
Half.com averages the cheapest price if you’re looking to buy used textbooks.
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WEdnesday january 16th @ 6:30p
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NIK SEU KA LEO O HAWAI‘I
Ranked 12th in the nation for International Business CO N S:
• Renting a textbook can be 50 percent cheaper than buying a book. • Most rental services offer to mail the book directly to your home with free shipping. • Major retailers like Amazon, Barnes and Noble and Chegg have reputable rental services that combine sizable selections with good customer service at relatively low prices. • Some textbooks can also be rented on your e-reader; rentals cost less than purchases and typically last for 180 days, which is more than enough for a 16 -week semester. You can also highlight and bookmark the text on your e-reader.
• Each rental service has a different contract, so benefits and obligations vary from store to store. • You may be required to pay your own postage to send a book back to the store, adding to the overall cost of renting a book. • If your book is lost in the mail or is returned late, you are responsible for it. • Renting an eBook too early or for too short a time may result in it disappearing when you need it most. Some eBooks will be removed from your e-reader with no warning once they have expired.
RENT IT
PRO S:
T H E U N I V E RS I T Y O F H AWA I ‘ I AT MĀ N OA BO O KS TO RE O FFERS BOT H RE N T I N G AN D PU RCHAS I N G O P T I O N S FO R S T U D E N T S . V I S I T BO O KS TO RE . HAWA I I . ED U FO R M O RE I N FO RM AT I O N .
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PRO S:
CO N S:
• When you buy a book, you own it; you can highlight in it, write in it, tear it or throw it away. You can also loan it to friends without fear of breaking a rental contract. • Used books are typically 20 to 40 percent less expensive than new books. In most cases, they’re even resalable at the end of a semester. • Many textbooks come in digital formats. While they do cost about the same as a new book and cannot be sold back, e-reader copies have the unique bonus of only weighing as much as your iPad, Kindle or Nook and are usually also available on your computer.
• When you buy a used book, you’re buying it at almost-full retail price. Most college bookstores sell used books only slightly cheaper than new ones, and buying online means you are never 100 percent sure of the condition of the book. • There is no guarantee that anyone will buy a used textbook when you’re done. If a professor at your university decides to stop using that textbook, you can try to sell it to an online retailer, but they will typically buy only the newest editions of any given book. If you’re trying to sell a novel or handbook, there is often no market at all.
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Page 14 | Ka Leo | monday, march 11 2013
ka leo MOney issue
Should we abolish the penny? YES
NO TIM M ETR A Associate Opinions Editor
The bottom line is pennies are wasteful. The United States government spends about two cents for every penny minted, which is a misuse of resources and metals. There is not a single compelling reason to keep the penny in circulation other than misguided fear. People assume that if we abolished the penny, a “rounding tax” would come into effect, but this isn’t so. Robert Whaples, a professor of economics at Wake Forest University, did a comprehensive study several years ago that proves that the impact of simply rounding up or down to the nearest nickel is negligible on consumers and businesses, and in most cases, even slightly benefits the consumer. The monetary impact is minimal either way; for the most part, consumers would actually gain money on the order of a cent for every 40 transactions. His study was conducted with data from stores that have a high volume of small-change purchases in Alabama, Georgia, North Carolina, South Carolina, Tennessee, Virginia and Pennsylvania, so it’s a fairly representative sample of the U.S. This study also noted the differences in the socioeconomic status of these businesses, and there was no appreciable difference.
Mr. Bitter brings up the argument of changing the alloys used to mint pennies and nickels to save on the cost of production. Here’s a better way to save the government money: Get rid of paper dollars and use $1 coins instead. According to the Federal Reserve, this could save the U.S. about $500 million a year. Speaking of saving money, if we got rid of the penny, it could, in fact,save the average American $3.65 a year in time wasted just waiting for change at the cash register. Many other countries have given up the penny, with no detrimental effects to their economy: Australia, Norway, Denmark and Sweden, to name a few. All of these countries have thriving fi rst-world economies, and they do it without pennies. In fact, Sweden, Norway and Denmark have all gotten rid of coins below 50 cents. Mr.Bitter points out that the worth of nickels also needs to be evaluated, and I agree. We should follow the example of some of our European neighbors and get rid of them both. I know that this would be more change than the U.S. is capable of handling, so an evaluation of the alloys contained in nickels is a worthwhile investment. Maybe we can use some of the billions of dollars that our government saves when it abolishes the penny.
A LEX BIT TER Associate News Editor It’s no secret that it costs more than a penny to make a penny. Less known, though, is that the U.S. Mint’s problems with small change don’t end with the cent. Deficit hawks eager to abolish the cent should note the nickel, too, costs more than its face value to make. In fact, according to its 2012 Biennial Report, the Mint spent $1.99 on every dollar of pennies produced, and it paid $2.02 for every dollar worth of nickels. While the penny is not currently cost effective, the nickel is just as much of a concern on the government’s bottom line, yet the cost issue with our five-cent piece is rarely discussed. Any effective solution to our country’s minting woes would have to make changes to both denominations. How do we find such a plan? Actually, we’ve done it before. In 1982, the Mint was faced with a similar dilemma. The then-penny’s 95 percent bronze and 5 percent zinc alloy put the cost of minting the coin over its face value. Fortunately, the Mint decided not to take advice from Mr. Metra’s penny-hating predecessors. The composition was changed to 97.5 percent zinc and 2.5 percent copper, an alloy that has remained in use since. If we want to adequately deal with the problems posed by the penny, we have to consider alternatives. The
Mint has multiple options to consider before eliminating these denominations from circulation. What good would redesigned and cost-effective pennies or nickels do in circulation? In addition to avoiding price rounding for cash purchases – something likely to affect the poor and others who can least afford it – revised pennies and nickels would continue to function in significant saving and fundraising roles. The low value of the cent makes them easy to give up, and for decades, charities such as The Leukemia and Lymphoma Society – which has collected $150 million in pennies during the last two decades – have raised big bucks through small-change donation drives. Low denomination coins may have little purchasing power in their own right, but if everyone donates a few cents to a cause, the amount of money accumulated can be staggering. Micro-savings can also be an easy way for individuals to work toward a financial goal. Who doesn’t have a tray, jar or piggy bank where coins accumulate, waiting to be exchanged at a bank for extra cash? Eliminate the penny, and that money will disappear into rounded transactions at the register. Our small change has evolved over time, but extermination isn’t the best answer. The one-cent coin’s low value makes it a vital part of our monetary system. With a few changes in design, it – along with our nickel – can live on as the little coin with big power.
Is there a topic that you want to see Metra and Bitter duke it out over? Email opinions@kaleo.org
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Page 15 | Ka Leo | Monday, March 11 2013
Page 16 | Ka Leo | Monday, March 11 2013
ka leo MOney issue MANOA MARKETPLACE MAN 808 988-4310
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Page 17 | Ka Leo | Monday, March. 11 2013
ka leo MOney issue
Page 18 | Ka Leo | Wednesday, March 11 2013
ka leo MOney issue Los Angeles Times Daily Crossword Puzzle Edited by Rich Norris and Joyce Lewis
ACROSS 1 Money under a mattress, e.g. 6 Poses a question 10 Hired rides 14 Singer Lena 15 Apt name for a windstorm? 16 Hollywood celeb 17 Cyclone center 20 Spotted 21 Pitcher’s mistake 22 Feral no more 23 Adds highlights at the salon 25 Sources of storage chest wood 26 Roy Orbison hit featured in a Gere/Roberts film 31 By surface area, secondlargest Great Lake 32 Rent-a-car choice 33 Apply daintily 36 Ladder rung 37 Taj __ 39 Gospel singer Winans 40 Needing no Rx 41 Late-night Jay 42 Coffees, in slang 43 Exerciser’s motto 47 Shipping container 49 Inaugural pledge 50 Sarandon of “Thelma & Louise” 51 Channel for business types 53 Magna __ laude 56 Debtors’ documents suggested by the sequence of the first words of 17-, 26and 43-Across 60 50-and-over org. 61 1,000 meters, briefly 62 Hindu guru 63 Loch of legend 64 “By Jove!” 65 Extremely pale DOWN
1 Her, subjectively 2 Hot Wheels and hula hoops 3 Region 4 Flower that usually blooms in winter 5 Playboy founder, for short 6 Thunderstruck 7 Bellow in a library? 8 Spock’s captain 9 Photog’s camera choice 10 Large, noisy insect 11 Starters of the first race? 12 Silly mistake 13 Winter coasters 18 Help illegally 19 List components 24 Japanese money 25 Spiral shape 26 Too-too 27 Sci-fi’s Jabba the __ 28 Forerunners 29 Search engine name 30 Appalachian state: Abbr. 34 Berry in modern diet supplements 35 Oscar category word 37 Chow __ 38 Picnic pest 39 Reliable moneymakers 41 Téa of “Tower Heist” 42 Scribble (down) 44 Postal purchases 45 Drink named for a Scottish hero 46 Like some nighties 47 Channel for political types 48 Psychic glows 51 Forensics team members: Abbr. 52 The Big Easy acronym 54 The Beehive State 55 Kid’s enthusiastic “I do!” 57 Compete in a slalom 58 Clandestine govt. org. 59 Admission in a confessional
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Page 19 | Ka Leo | monday, march 11 2013
ka leo MOney issue
Parnaby carries the team
Kaimuki’s Boston Pizza
SYDNEY C HESTNUT Staff Writer
There is no doubt that pitching can make or break a team. Good pitching will carry a team to the playoffs, but great pitching will win championships. Ranked in the top 25 in the nation, the Rainbow Wahine softball team expects some great pitching from senior ace pitcher Kaia Parnaby. The Australian native has three years of experience, but this is her fi rst season under the spotlight, having spent the past three seasons in the shadow of All-American pitcher Stephanie Ricketts. “I don’t have Steph with me, that’s kinda different,” Parnaby said. “I’ve had her the rest of my three years. I came out trying to prove a point, really. Being behind Steph for three years, to take over the number one spot, I just wanted to prove that I was worth it.” Parnaby took full advantage of her years behind Ricketts, accepting her position on the team and pushing to become a better player. “For her fi rst three years, she was sort of bridesmaid to Stephanie Ricketts,” head coach Bob Coolen said. “A lot of pitchers with her experience – international experience – would not have accepted that role, but she came into a situation, and her and Stephanie got along. She understood her role and got better each year.”
S T E A DY P RO G R E S S
Parnaby has shown considerable improvement since her freshman year when she posted a 3.08 ER A. She shaved it down to 1.28 her sophomore year, ranking 13th in the nation. In her junior year, Parnaby had the lowest ER A in the Western Athletic Conference with 1.47. “I went home after my sophomore year and really worked hard with my pitching coach on getting a changeup and just refi ning
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Senior pitcher Kaia Parnaby is one of six current Rainbow Wahine from 2010’s team that played in the Women’s College World Series. all my pitches,” Parnaby said. “I think that really helped my junior year and this year as well.” Last season Parnaby had 21 starts, a number that she is on her way to surpass. “This year she understood that she was going to be the goto pitcher,” Coolen said. “She was going to be asked to toe the rubber about 40 times. We’re well on our way there with her, with about 20-plus times already. So she knows she has a long road to hoe, and I’m glad she accepted the challenge and has done what she’s done for us.” Her stats and awards leave no doubt that Parnaby is an exceptional pitcher, but Parnaby hopes to leave behind a legacy as a player who displayed composure in all aspects of the game. “I want to be remembered as having good presence on the dia-
mond,” Parnaby said. “It’s not always about being the best pitcher. It’s about being able to show that you have a good presence whether you get hit around or whether you’re really good.”
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Page 20 | Ka Leo | monday, march 11 2013
ka leo MOney issue
‘Bows look to beach new heights M ADDIE SAPIGAO Staff Writer In its inaugural season, the Rainbow Wahine sand volleyball team failed to qualify for the AVCA team championship, but Hawai‘i remains hungry. Ranked fifth in the nation, UH plays its first tournament this weekend at Queen’s Beach against Chaminade, Florida International and Hawai‘i Pacific. “We have been practicing really hard and everybody is starting to work on the little things, and it’s starting to make a difference when we play,” sophomore returner Ginger Long said. FILE PHOTO/ KA LEO O HAWAI‘I
Sophomore Jane Croson is one of eight players to play both sand and indoor volleyball this season.
NEW TEAM UH sand volleyball has a few new additions to the team that will help it move forward.
“I think this year’s team as a whole is catching onto a lot of the concepts quicker,” Long said. Hawai‘i’s addition of players includes transfers from Hawai‘i Pacific, Penn State and Irvine Valley College. There are four true freshmen on the team. “ The new players are doing really well. A lot of them are really good at beach,” Long said. “We are all getting along and bonding a lot.” The ‘Bows are led by sophomore Jane Croson. The Lakewood, Calif., native won gold for the Fédération Internionale de Volleyball two years in a row (2009-2010) with partner Summer Ross. “Jane is a great player on the beach. Her experience from everywhere that she’s been can really help anybody out,” Long said.
P R E S E A S O N A N D G OA L S
The sand volleyball team plays only two tournaments before the season starts, but the ‘Bows have been training since October. “We are a pretty small team, so what we are trying to do is outlast bigger teams like USC, Long Beach and Pepperdine,” Long said. Given their No. 5 ranking, the Rainbow Wahine have one goal this season: a trip to Gulf Shores, Ala., for the AVCA National Championship. “We need to continue doing what we are doing,” Long said.
UPCOMING GAMES UH vs. Florida International Friday at 9:30 a.m. Hawai‘i Tournament Saturday, all day All matches will be at Queen’s Beach in Waikīkī
Campus Center the Center of Campus
Being a college student can take a huge chunk out of your wallet. A lot of the times we eat our money away! The Campus Center Complex offers everything a student needs to survive on campus! From food to entertainment; your student union is here for you. Come and check out the various services and vendors that the Campus Center Complex provides. If your stomach is growling you should stop by some of our food places:
TACO BELL/PIZZA HUT [CC 1ST FLOOR], BALE [HEMENWAY HALL], JAMBA JUICE [CC 2ND FLOOR], STARBUCKS [CC 2ND FLOOR] SUBWAY [CC 2ND FLOOR], CAMPUS CENTER DINING [CC 2ND FLOOR] These vendors are here to offer you the best food for your satisfaction! They offer high quality for the best prices. But if you’re looking to splurge your money on other things such as books, clothes, etc. you gotta go to the Bookstore. The Bookstore offers a variety of things that every student needs such as books to buy and rent, other school supplies, UH merchandise, and much more. Don’t forget about the Rainbowtique located on the Campus Center 2nd floor within the dining hall! And there is also the Beloved Boutique for women’s apparel. It’s like a mall located right in the middle of campus! Or if you want to spend a little time for some off campus fun, the Student Recreation Services can help with that! With the Student Recreation Services anyone can go hiking, kayaking, surfing, and other cool stuff! Students get a good price for rentals and for being active in the program. So, if you like being outdoors you should check it out. Or if you just enjoy sports in general you should sign up for intramurals offered by the Campus Center Board Recreation Sports Council! But if you’re a fan of the nightlife you should go to the Ticket, Information, and ID office, located on CC 2nd floor, for upcoming concerts and events. There they can get you tickets for shows, movies, games, etc. at great prices. Also, the Campus Center Board Activities Council offers a lot of free events on campus which is another great way to spend a night! There are a lot of great opportunities and great deals are given to you and they are all take part in the Campus Center Complex. So stop paying crazy prices when you can get a good deal here! Campus Center Board wants to make sure you keep Campus Center the center enter nter of nt of your your campus! yo
g room in v li e h T : r e t n Campus Ce of Campus.