Math to Guide Personal Finance

November 26, 2010 by Leave a Comment
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Math has no morality. It can be used to mask the intentions of certain industries, which is part of the reason why consumers must do there best to have an understanding of math and finance in order to protect themselves and make their money work for them.

People make mistakes with money for many reasons. It is easy to go over budget and indulge in unnecessary consumption. In difficult economic the loss of a job or weak wage increase can also make it difficult to stay above water. Keeping up with the bills is difficult enough without worrying about easy pitfalls that could be avoided with just a basic mathematic knowledge.

Payday loans charge such high levels of interest that it could create an even worst problem to take one out. It is best to calculate the interest that taking out the loan with cost and seeing it that amount can be covered when the loan is due before even considering a loan. If performing the calculations are a problem there are plenty of interest calculators available for free online.

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Tainted Numbers

November 19, 2010 by Leave a Comment
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Baseball played for the glory of the great 1998 home run chase. For all the media attention that the chase for the single season home run record brought the game, the shaming of the players involved in the raise earned the game a terrible black eye. Baseball had always been tied to its numbers. The statistical heritage in baseball was more important than in other sports. A .300 hitter has been considered the benchmark of excellence for decades, and home run numbers had been fairly consistent since the end of the Dead Ball Era.

The game changed in the late 1990s. Power numbers went off the charts and conventional baseball wisdom out the window. Home runs became the core of baseball offense, and almost every position on the field was expected to generate power. The faces of the power explosion were Mark McGwire and Sammie Sosa. In 1998 and 1999 they shattered records for home runs in single seasons and helped to generate interest in baseball through their long ball exploits.

Fans adored the pair and Major League Baseball marketed them as the reason to come out the old ball park. Years later and in front of a congressional panel, baseball paid for embracing the sluggers.

During a congressional inquiry into performance enhancing drugs in sports both McGwire and Sosa were called to answer questions. McGwire gave an embarrassing stammering performance where he said the he, “Don’t want to talk about the past.” Sosa, who had spent more than 20 years in the United States at this point feigned that he did not understand the questions and spoke in broken Spanglish.

McGwire later admitted to steroid use. Sosa never did, but his name showed up on the Mitchell Report as someone who tested positive. The numbers that baseball historians treasured for so long had become tainted by something that could not be fixed with a simple asterisk.

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Beyond the Numbers

October 26, 2010 by Leave a Comment
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Can mathematics explain everything? Perhaps in the minds of geniuses the entire universe can be explained in an equation. Attempting to reduce life to a formula probably is too advanced for the majority of us.

Perhaps this is best explained through physics. Even with perfect mathematical equations producing results in the field has so many variables that it is difficult to transfer classroom results to the field. Math prior to going into the field cannot account for a wind from a certain direction or the amount of humidity in the air. Numbers work in controlled environments. The greater the variables mean that variables mean far less.

In sports, statistics have become gospel. In baseball a new breed of statisticians, sabermetricians have attempted to not only develop numbers to predict winners but also place historical performances into perspective. In baseball the numbers work better than in other sports because the situations are more controlled. Baseball remains largely a competition between a pitcher and a batter. Runners on base and the score might complicate the at bat, but the main competition exists between the hitter and the batter.

In basketball there are instances of one on one competition, but basketball is never as isolated as baseball. A great hitter in baseball has the duty to put up power numbers and get on base. A great player in basketball can ruin his team’s fortunes by focusing on personal numbers. Some of the greatest players in basketball history have sacrificed there numbers for the sake of playing winning basketball.

Winning basketball plays require proper spacing, placement and execution. If one player is in the wrong position or moves into the wrong space he can ruin the play. With this level of variable, it is nearly impossible to measure some of skills that make a basketball player great. Numbers an explain a lot, but something have yet to be quantified.

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The Importance of STEM

September 13, 2010 by Leave a Comment
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STEM stands for Science, Technology, Engineering, and Mathematics, not to be confused with stem cells. It is estimated that many of the emerging jobs are STEM-related jobs, and that is not counting all the jobs that use STEM fields in some form or another. It is easy to see how important these fields are, and teaching them from K-12 to colleges and universities makes a big difference in the quality of workforce developed.

Mathematics is vital to the S, T, and E of STEM. A non-profit in Utah called the Utah Technology Council realizes the importance of mathematics and works hard to pass legislation to increase the rigor of mathematics being taught in schools. This is just one example of many groups who realize the importance of mathematics in many of the job-producing fields.

When mathematics is effectively taught through grades K-12 children prepare themselves for a host of job opportunities. Fields such as chemical engineering, software programmers, and geologists all use math to determine outcomes and solutions to industry problems. For example, when a geologist studies the age of a rock formation, they use mathematical equations for certain chemical weathering, strength and hardness of the bonds formed, and formulas that aid in understanding differences in rock types. A scientist will tell you that math is essential to the future of their profession.

Some states have adopted the requirement of math in all K-12 grades to increase the quality of workforce within their state, thus increasing the economic viability. While children and teenagers may not like taking rigorous math courses, it has been proven to boost economic development within the state it is practiced. Math also can prepare students for fields that may not be as math-intensive, but require use of logic and reason. A writer, for instance, may use fine-tuned logic skills learned from math at different times in his career. Mathematics is a universal subject field that has far-reaching economic effects.

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Does Math Matter?

September 5, 2010 by Leave a Comment
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Does math matter? Many children learn their numbers before they learn the alphabet. The language of numbers is the same on every spot of the globe. Even when the words for the numbers vary, the numbers themselves are always the same. Two and two make four in Australia, in China, in the United States and everywhere else. Math is a must-complete school subject in every single grade from elementary to high school. College students, even those working toward a degree that is not related to scientific fields, must also study mathematics. There’s no escaping it-so why not learn how to have fun with it?

Andrew Grothendieck isn’t the only mathematician who ever learned how to have fun with numbers, but he is one of the most notable. His ideas and his view of the world of mathematics are presented in Fun With Numbers, a blog that shows readers exactly how to have fun with the math that makes up everyone’s daily life. Does math matter? Anyone who has ever taken out a loan, made change for the bus or tried to work out the amount of a good tip knows that it does. Even those professionals who focus on art, language and other skill sets that don’t seem to be rich in numbers must face math challenges every day. Fun With Numbers shows readers how to recognize and solve math problems-while actually enjoying it.

When the mystery is taken out of math, it becomes an approachable science, a skill that anyone can learn how to use and apply on a daily basis. Fun With Numbers explores the importance of high school math, the math of every day finances like insurance payments and even math as a recreational activity. The blog posts don’t read like lessons, but readers will find themselves learning even as they’re being entertained. Math matters-so why not learn how to treat it like a friend?

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