What Is Interest? Interest is the monetary charge for the privilege of borrowing money. Interest expense or revenue is often expressed as a dollar amount, while the interest rate used to calculate interest is typically expressed as an annual percentage rate (APR). Interest is the amount of money a lender or financial institution receives for lending out money. Interest can also refer to the amount of ownership a stockholder has in a company, usually expressed as a percentage. Key Takeaways Interest is the monetary charge for borrowing money—generally expressed as a percentage, such as an annual percentage rate (APR). Interest may be earned by lenders for the use of their funds or paid by borrowers for the use of those funds. Interest is often considered simple interest (based on the principal amount) or compound interest (based on principal and previously-earned interest). Interest is often associated with credit cards, mortgages, car loans, private loans, savings accounts, or penalty assessments. Interest is highly dependent on macroeconomic policy dictated by the Federal Reserve's Federal funds rate.

1. Interest

2. • Since humans have unique qualities and personalities, their hobbies
and interests vary. Despite the differences though, these hobbies and
interests bring people from all walks of life together. These also take
away the routine activities of people that make their life monotonous.
The best experience that people could have is to be able to enjoy
their hobbies and interests. These would certainly give them
happiness and pleasure in life.

3. • There are individuals who became successful by simply developing
and enhancing their hobbies or interests. One good example is
Corazon D. Ong. founder of CDO Foodsphere. Inc. It was Ms. Ong's
hobby to make processed meat products such as corned beef, hot
dog, meatloaf, and hamburger patties. Eventually her products
became one of the leading brands of processed meat.

4. • Many people forget their interests and hobbies to face the day-to-day
challenges of life, this is unhealthy Life is about enjoyment and
satisfaction. It is about being able to live a life that is not hounded by
boredom and problems. Always take and find time to do things that
will make you happy. Life is too short so make the most out of it.

5. • From Hobbyist to Entrepreneur When Jonathan "Jay
Aldeguer 36 president and founder of Islands Souvenirs
finished his AB Interdisciplinary Studies degree from the
Ateneo de Manila University, his parents rewarded him
with a European vacation. On this trip Jay found himself
stuffed with books and figurines which were too
inconvenient for him to carry around. So he shifted to T
shirts as souvenirs, which also served as a good change of
clothes he funnily recalls

6. • That experience and as a typical Filipino who loves
collecting souvenirs and buying pasalubong or take
home items made Jay translate his hobby into a
business venture in the then underdeveloped
Philippine souvenir industry

7. • By putting up Islands Souvenirs in March 1992 and
packaging souvenirs that deviate from the usual
ethnic inspired motifs to usable mementos that reflect
the country's sunny and tropical character Jay not only
made money, sarmed recognitions and awards above
all he proves that passion and interest are essentials
for an entrepreneur to get into a business.

8. • Turning a hobby or an interest into a business venture would be a
perfect foundation for any enterprise" Jay says If you are now thinking
turning whatever hobby or interest you have into a moneymaking
endeavor like what Jay did check out the following tips collated from
various sources Contemplate first No need to actually go to a
secluded place to meditate and as for any divine intervention (though
it helps), but simply ask yourself if you are really decided on turning
your hobby or interest into a business

9. • When Jay established Islands Souvenirs, it was clear to him that as a
souven collector himself he wanted value for money. And getting
value for his money offering both local and tourists items that best
capture the true spit of the cay they are visiting With this vision
Islands Souvenirs churned out 300% sales t a year of operations

10. • Be ready for the competition If you truly feel that your passion has
the potential as a business check out for any competition so you can
fully identify and serve your target audiences

11. • When Jay rolled out his first kiosk in a Cebu mall, he immediately
found himself up against two competitors who were hawking a similar
concept as of Islands Souvenirs But luck was on his side that the
department store granted him additional space to expand and by this
time, the competition had vanished

12. • Act like a business Failing to make a complete transition from amateur
to professional is considered one of the biggest pitfalls of taking the
hobbyist route to business ownership To avoid this start by taking
care of the following such as opening a separate checking account for
the business getting a credit card maintaining complete and accurate
records, documenting your equipment purchases among related
matters Being unique matters From Kiosk to mall outlet, expanding
from Cebu to key

13. • Philippine business districts to selling overseas Jay proves that
creativity, innovation and quality spell out the difference evident with
the fact that Islands Souvenirs sends out its team abroad to scout for
designs, in an effort to always offer something new for customers
Keep up with the technology Selling to friends and relatives or putting
a shop of joining a bazaar are immediate possibilities for anyone
starting out a business but Jay notes that the internet should also be
harnessed as the new marketplace

14. • "Using the Internet would immediately expand your market from a
handful of friends to a worldwide market by the millions The auction
site eBay for instance is a great marketplace to start a hobby Start-up
cost is negligible and overhead is minimal I've used it and made some
decent profit." Jay shares Have the customer is always right as your
new mantra With a hobby, you do things when you feet like it-and if
you don't feel like working there are no repercussions Now.
consumers depend on you so you better deliver and deliver well
Above all have fun Hobbies evolve from passions. but a business
requires work and responsibility So before turning your hobby or
interest into business be have planned it out so the fun does not get
lost.

15. • Values Clarification Identifying a Career Path Choosing a career path is
often a challenging dilemma for many high school students. While
there might be some legitimate reasons for that problem to arise,
there are also some things that can help young people feel
comfortable with making a career choice.

16. • The dilemma arises when most high school students are asked about
what they are going to do after graduation. Many feel pressured to
come up with an answer. Some hastily react by selecting a career path
without thinking if they really like it. Some make a career choice
based on what someone else has suggested to them or something
that sounds interesting or new.

17. • Others even base it on what their friends have chosen, But for some,
they are still undecided. They are still clueless on what career option
they will choose

18. • Determining One's Hobbies and Interests Since selecting a career path
is a problem for most high school students, there are certain things
that they can consider to help them make the proper decision. Onc
good option that will definitely help them to consider their hobbies
interests Hobbies of interests are things or activities that people are
good at and enjoy doing.

19. • According to Joyce K. Reynolds, an expert business coach, if people
would look into what they enjoy doing most as their basis for a career
in the fisture, this would definitely make them successful in their
chosen field.

20. • In addition, she mentioned that it would be better if people can
already identify at an earlier stage of their life the things that they
love to do so that they can already enhance it and make it as their
career option. A successful career is attained if one loves and values
what he/she is doing A big number of people in the different fields
achieved success by following and doing what they love to do Usually,
many these hobbies match the work demands of the real world.

21. • The following table enumerates and identifies hobbies based on their
nature and how these activities are being done From the sample
hobbies given, a person can already determine the career that he/she
might have in the future.

22. • . For example if the person is into computer and technology-related
hobbies, then a career in computer programming or information
technology may be pursued A person who is interested in
observational activities may end up as photographer. Those who are
inclined to creative hobbies may choose acting, dancing or other
forms of performing arts

23. • Aside from the benefits teenagers can gain in utilizing their interest as
basis for a career, they can also make use of their hobbies as possible
income-generating activity in the future. If one is interested in baking
and cooking, he/she can make this as his/her college course and later
on, put up a bakeshop or a restaurant or a catering business.

24. • A person who is into photography may end up establishing a
photography business someday A successful businessman loves what
he she is doing Furthermore, teenagers can also use their interests or
hobbies in serving other people while doing his/her responsibilities in
the community.

25. • An individual whose interest is in politics can be a good leader in the
future serving his/her constituents Another example is a teenager
who cares so much for the environment may end up as an
environmentalist who advocates for the care and protection of
nature.

26. • Interests and hobbies may be considered by others as pastime
activities that can be taken for granted. But one must realize that
these interests or hobbies, if further developed or enhanced, can
serve as a key for him/her to be successful in life.