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Ikea Credit Card Review 2022: Pros, Cons & Overview


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Quick take: The Ikea Visa credit card offers great benefits to loyal customers who make frequent purchases from the furniture retailer. Cardholders get $25 off their first Ikea purchase if it’s $25 or more, plus 5% off all Ikea purchases in-store and online. It also offers 3% cashback on dining, grocery, and utility purchases and 1% cashback on all other purchases. Cardholders also earn a $25 bonus when they spend $500 or more on qualifying purchases within the first 90 days.

  • Earn rewards
  • Redeem rewards
  • Interest and fees
  • Customer service

How did we calculate this?


  • 5% off all Ikea purchases
  • 3% cashback on food, grocery and utility purchases
  • No limit to rewards
  • Quality customer service
  • No annual fee

The inconvenients

  • Statement credits are the only way to redeem rewards, allowed in $15 increments
  • The purchase APR is 21.99%, which makes it less competitive than other cards
  • No introductory APR
  • Rewards are only valid for 90 days

Introducing the Ikea Visa credit card

The Ikea Visa credit card is a great option for those who regularly buy furniture and home goods from this retailer. Loyal Ikea customers are rewarded with 5% off Ikea purchases in-store and online. This same 5% reward increase applies if customers use the Ikea Visa credit card to pay for Traemand installation services or TaskRabbit assembly services.

Cardholders also earn rewards if they use the card outside of the retailer, earning 3% on dining, grocery and utility purchases, and 1% on all other purchases. These rewards can only be redeemed in $15 increments on billing statements and are only valid for 90 days.

With a purchase APR of 21.99%, the interest rate of the Ikea Visa credit card is relatively high compared to other credit cards. This card is a perfect choice for Ikea lovers who don’t have monthly credit card balances.

Features of the Ikea Visa credit card

Here is an overview of some of the features offered by the Ikea Visa credit card.

Earn rewards

Ikea followers who use this card to purchase items from the retailer get 5% back on those purchases, which equates to at least $500 back for those who spend $10,000 or more per year . In addition to this loyalty benefit, cardholders are also rewarded for spending on dining, groceries, and utilities, earning 3% back in those categories and 1% back on all other purchases.

New cardholders can also take advantage of unique bonuses, such as withdrawing $25 on their first Ikea purchase of $25 or more and getting an additional $25 bonus when they spend $500 within the first 90 days of account ownership. .

Redeem rewards

Cardholders don’t have many options for redeeming the rewards they earn. They can only redeem rewards via billing statement credits in $15 increments, unlike other cash rewards cards which offer direct deposits and mailed checks. Also, Ikea Visa credit card rewards are only valid for 90 days. This means cardholders only have a few months to redeem their rewards or risk losing them.

Interest and fees

The Ikea credit card has a relatively competitive fee schedule. Compared to other cash back cards, however, the interest charged by the Ikea Visa credit card is high. Here’s an overview of the card’s rates and fees.

Type of fee or interest rate amount charged
Purchase APR 21.99%
APR balance transfer 26.99%
APR cash advances 23.99%
Balance Transfer Fee $10 or 5%, whichever is greater
Cash advance fees $10 or 5%, whichever is greater
Annual fees $0
Late payment Up to $41
Payment returned Up to $41

Customer service

A credit issuer for more than 30 years, Comenity Capital Bank – part of Bread Financial – manages the Ikea Visa credit card. Cardholders can contact its highly trained customer service team by sending a secure message on the Comenity website, calling the customer service line, or sending a letter.

Comenity offers live customer support 24 hours a day, seven days a week, but this availability may vary during the holidays.

Comparable cash back credit card options

The Ikea credit card is an attractive option for someone who regularly shop at the retailer. Those who don’t buy from Ikea a lot might want to consider one of the following boards instead.

Chase unlimited freedom

Chase Freedom Unlimited cardholders earn 5% cash back on travel purchases made through Chase Ultimate Rewards, 3% back on restaurant and drug store purchases, and 1.5% back on all other purchases . New cardholders can also earn a $200 bonus when they spend $500 within the first three months of account opening and 5% cash back on up to $6,000 in purchases. gas station in the first year.

With Chase Freedom Unlimited, cardholders pay no interest for the first 15 months on purchases or balance transfers. After that, the card has a variable purchase APR which varies between 14.99% and 23.74%. It also has a reasonable fee schedule and no annual fees.

Bank of America Unlimited Cash Rewards

Those with the Bank of America Unlimited Cash Rewards credit card earn 1.5% cash back on all purchases. This card does not limit the rewards cardholders can earn. Those who open a new account can earn an additional $200 cash back if they spend $1,000 within the first 90 days of card ownership.

This Bank of America credit card has a promotional interest rate of 0% on purchases for the first 15 months. Once the promotional period expires, a variable APR between 14.24% and 24.24% comes into play.

The Ikea Visa credit card: a great choice for the merchant’s loyal customers

The Ikea Visa credit card is best suited for shoppers who regularly buy home furniture and other items from this retailer. For any Ikea loyalist, this card is a great way to earn rewards at a high cashback rate for those purchases. Those who have this card should pay it off monthly to avoid high interest charges.

Ikea credit card FAQ

Here are some of the most frequently asked questions about credit cards from Ikea.

  • Is the Ikea Family card a credit card?
    • The Ikea Family card is intended for use with the retailer’s rewards program and is not an Ikea credit card. Those with an Ikea credit card are automatically signed up for an Ikea Family membership, which includes free hot drinks and exclusive discounts, among other perks.
  • Which bank handles Ikea credit cards?
    • Comenity Capital Bank manages the Ikea Visa credit card as well as its Project credit card.
  • Where can I use my Ikea Visa credit card?
    • Cardholders can use the Ikea Visa card wherever Visa is accepted.

Information is accurate as of April 6, 2022.

Editorial Note: This content is not provided by Comenity Capital Bank. Any opinions, analyses, criticisms, evaluations or recommendations expressed in this article are those of the author alone and have not been reviewed, endorsed or otherwise endorsed by Comenity Capital Bank.

Editorial Note: This content is not provided or commissioned by the banking advertiser. The opinions expressed herein are those of the author alone, not those of the Bank Advertiser, and have not been reviewed, endorsed or otherwise endorsed by the Bank Advertiser. This site can be remunerated via the affiliate program of bank advertisers.

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When is the best time to refinance your student loans?


Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

The best time to refinance student loan debt depends on your credit score, income, and other factors. (Shutterstock)

Refinancing your student loans gives you the opportunity to get a new loan with a better interest rate, which can help you save money while you work to pay off your student loan debt.

Although there is no good time to refinance student loans, this may make more sense in some situations. Keep reading to find out when is the best time to refinance your student loans, when refinancing might not make sense, and how to refinance your student loans.

Visit Credible for Ilearn more about refinancing student loans and view your prequalified rates.

When is the best time to refinance your student loans?

When you refinance your student loans, you take out a new loan to pay off your original loans. You will then have a monthly payment to follow, and the new loan will ideally come with a lower interest rate or more favorable loan terms.

It’s easy to see why refinancing can be attractive. Although each borrower has a unique financial situation, it could be advantageous to refinance student loans in these situations:

When you can get a better interest rate

Getting a lower interest rate when refinancing student loans is not a guarantee, but if you can get a lower rate, you might be able to save a decent amount of money on interest for the term of your loan.

If you have a variable rate loan, you may be able to refinance it into a fixed rate loan, which will give you the same interest rate for the life of the loan. This can be easier to budget for than a variable interest rate loan, which can change over time. Since variable rate loans generally start with a lower interest rate and gradually increase over time, you could end up paying more for a variable rate loan than a fixed rate loan.


When you want a smaller monthly payment

If you can get a lower interest rate or longer repayment term on a refinance loan, you can potentially lower your monthly payment amount. If you’re on a tight budget after leaving school, a lower monthly payment can make managing your finances much less stressful. You can also continue to pay your original monthly payment amount to speed up the repayment process while having the flexibility to stick to the lower payment when you have other expenses you need to focus on.

When you have a stable income

If you graduated and earn a steady income, or recently got a raise at work, now could be a good time to refinance your student loans. When you refinance private student loans with a private lender, they will want to see proof of income. Lenders will also look at your debt-to-equity ratio, or DTI — the amount of your monthly income that goes toward paying off debt — to make sure you’ll be able to repay your new loan.

Just keep in mind that when you refinance federal loans into a private student loan, you’ll lose access to important federal benefits, like student loan forgiveness programs and income-driven repayment plans. If your employment situation is still unstable, it’s usually best to keep your federal student loans so you still have access to these benefits.

When your credit has improved

If your credit score has improved since you originally took out your private student loans, or you now have a co-signer with a high credit score, refinancing may be beneficial. The higher your credit score, the more likely you are to qualify for a lower interest rate. If your credit score is significantly higher than when you originally took out private student loans, you could qualify for a much better interest rate and save a lot of money.

You can compare student loan refinance rates using Credible, and it won’t affect your credit score.

When you want to simplify your monthly payments

One of the main advantages of refinancing is that it allows you to consolidate multiple loan payments in one convenient monthly payment.

If you want consolidate federal student loans without refinancing them into private loans, you can combine them into a direct federal consolidation loan through the Department of Education. Your interest rate will be a weighted average of all your existing loans, so your new rate may not be lower. But having just one monthly payment to track can make managing your debt much easier.

It should be noted that you cannot consolidate private student loans into a federal direct consolidation loan.

When your adjournment ends

With federal student loans, if you are experiencing financial hardship, you may qualify for a deferral or forbearance, which allows you to temporarily suspend student loan payments. The US Department of Education generally offers more deferment options than private lenders. But once your deferment period is over, you may find it’s a good time to refinance, because you no longer have to worry about missing out on that federal benefit.


When you’re not at school

Federal student loans generally have a grace period of six months after you graduate or quit school when you are not required to make payments (although it is worth confirming your lender’s specific repayment terms). Since federal borrowers are generally not required to make payments until they leave school, it generally does not make sense to refinance before then, as this will initiate the repayment process.

However, if you have private student loans, you’ll likely start repaying your loans as soon as you graduate. It’s worth checking with your private lender to see if they offer a grace period on student loan repayment.

When not to refinance your student loans

Now that you know when it might be worth refinancing student loans, let’s look at some times when it might not be beneficial, or even possible, to refinance student loans:

  • You recently filed for bankruptcy. Filing for bankruptcy can negatively impact your credit report for 10 years. Having a damaged credit rating will hurt your ability to get a new loan, so it may be best to put refinancing on hold if you’ve recently filed for bankruptcy.
  • You have defaulted loans. If you fail to repay your student loans, your credit score will suffer and you are unlikely to be able to get a better interest rate by refinancing. You may not even be able to find a lender who will approve you for refinancing if your current loans are in default.
  • You’re still working on your credit and you don’t have a co-signer. If your credit score hasn’t improved since you first took out your loans and can’t find a co-signer with good credit, refinancing may not save you money and may not necessarily be worth it (especially if you lose access to federal protections).
  • Your loans are suspended or forbearance. If you have federal loans that are deferred or forborne and you refinance with a private lender, you will lose this break in payments, which will not benefit you since you will have to start paying off your refinance loan. a way. It’s best to skip refinancing if you currently have suspended or forborne loans.
  • You have federal student loans and are making payments toward student loan forgiveness. When you refinance federal loans to private loans, you lose federal benefits. If you are currently working on canceling your student loan under the Public Service Loan Forgiveness Program (PSLF) or an income-driven repayment plan, refinancing to a private loan will make you lose the credit for all payments you made for loan cancellation. .
  • Your loans are almost paid off. Applying for a private student loan refinance typically triggers high credit demand, which can temporarily lower your credit scores by a few points. Many private lenders also charge an origination fee for processing the new loan, which is deducted from your new loan amount. If you’re close to paying off your student loans, refinancing probably won’t save you much interest, and any savings probably won’t be worth paying fees or adding a hit to your credit report. .


How to refinance your student loans

If you decide that refinancing is right for you, you will typically follow these steps to refinance your student loans:

  • Shop around and compare rates. When researching refinance options, you should compare rates and terms offered by three to five different lenders to see which loan will save you the most money. In addition to comparing new offers, you should also compare all of these offers to your existing student loans, because you won’t want to refinance if it comes with less favorable rates and terms than you already have.
  • Apply with the lender you choose. Once you have chosen a lender to work with, you will complete a refinance application. Each lender has their own eligibility requirements and refinance loan application process, but they have support staff who can help you if needed.
  • Continue to pay on your original loans. Unless your current student loans are in grace, deferment, or forbearance, you must continue to make payments on your original loans until your new lender notifies you that they have repaid your loans. existing. At this point, you will start making payments on the new loan.
  • Set up automatic payments for your new loan. Refinancing multiple loans into one can make it easier to manage student debt. To make things even easier, you can set up automatic payments for your new loan. Many private lenders also offer an autopay discount for setting up autopayments. Just make sure you keep enough money in your bank account for this automatic payment to go through, and you’ll never have to worry about accidentally missing a payment.

If you’re ready to refinance, use Credible to quickly compare student loan refinance rates from various lenders, all in one place.

Top 5 Reasons That Could Affect Your Overall Credit Score


When you apply for a loan, the financial institution reviews your credit report to assess how much credit you qualify for and how much you can repay.

This document gives the lender an overview of your identity, your credit history (loans you have taken in the past), your current credit accounts, your payments, your recent credit applications and, of course , your credit score.

A good credit rating will secure you in many ways when it comes to applying for a credit card, car loan, and mortgage, among others. Your credit score, which is basically a three-digit number, is derived from a detailed analysis of your credit history. This includes every major financial milestone and your general behavior in handling money and other valuable assets you have created, in addition to your general attitude towards financial obligations, including your payments for utilities.

But even if you know these pitfalls of a bad credit score, you too could end up with a bad score.

Here are some of the reasons that could affect your overall credit score.

Deferred repayments: When borrowers delay their repayments, it leads to bad credit. If you constantly delay your payments, it can affect your overall credit score. The higher the number of late payments, the greater the negative impact on your credit score.

Multiple loans: Multiple outstanding loans can also affect credit rating as it will increase debt burden and hamper your ability to repay.

Brief credit history: Having a long credit history helps maintain your credit score. If possible, you should keep your old credit cards open rather than closed, as this will allow you to take advantage of years of good credit history and repayment behavior.

Application for multiple loans, credit cards: Applying for multiple loans or credit cards sends a message that you desperately need credit. It is advisable to space out your credit card and loan applications, rather than applying at the same time. To avoid triggering difficult inquiries due to multiple credit inquiries, you can upload your credit file and share it with lending institutions.

Not reviewing the credit report: A credit report is a summary of all your personal information, credit transactions, credit accounts and repayments. Any discrepancies in your credit report can lower your overall credit score. To ensure the factual accuracy of your credit report, it is advisable to regularly check your credit report and score.

The author is Managing Director, Experian India

(Disclaimer: The opinions expressed are those of the authors and Outlook Money does not necessarily endorse them. Outlook Money will not be liable for damages caused to any person/organization directly or indirectly.)

The Myth of Credit Cards and Credit Scores Costing You


Alvarez | Digital Vision | Getty Images

There’s a pervasive myth about credit card balances and credit scores, and it can cost you money.

According to a recent Lending Tree survey, 65% of Americans believe that carrying a small balance on their credit card each month will improve their credit score. The share is higher among younger consumers — 79% of Gen Z believe that, for example, depending on the investigationwhich surveyed 1,323 adults in February.

But that belief isn’t true, according to Matt Schulz, chief credit analyst at Lending Tree. And it can have the opposite effect, depending on how consumers use their cards.

“The problem with this myth: it ultimately costs people money,” he said.

More of your money your future:

Here’s a look at more stories on how to manage, grow and protect your money for years to come.

The myth is likely the result of a tension: Using cards responsibly can help consumers (especially young people) build good credit, but making infrequent purchases with a card can cause lenders to shut them down. .

Some consumers have misinterpreted being a frequent user with the need to maintain a balance on their credit card, Schulz said. (A balance is achieved when consumers make the minimum card payment each month instead of paying their entire bill.)

Making a minimum monthly payment generally keeps consumers in good standing with creditors. But the practice can still hurt your credit score, Schulz said.

A large balance can indirectly reduce credit scores by increasing consumers’ credit “use rate”. This is the ratio of what consumers owe to their total credit limit.

Credit usage is one of the most important factors that determine a credit score, Schulz said. Having bad credit can mean consumers have a harder time getting loans or can trigger higher interest rates on mortgages and other debts compared to someone with good credit.

“Having little to no usage rates is actually a good thing because it shows you’re responsible for paying off those balances when they come in,” he said.

Consumers can achieve this by making a small recurring purchase each month (a phone bill, for example) and then paying off the entire card.

Second, consumers must pay interest on their balance when they do not pay all of their bills. Credit cards often carry high interest rates. The average card had interest rates above 16% last week, as of March 30, according to at CreditCards.com.

Card issuers will likely raise these rates as the Federal Reserve continues to raise its benchmark interest rate in the coming months.

Thirty-five percent of cardholders don’t know their credit card’s interest rate, according to Lending Tree. And 49% don’t pay all of their credit card bills each month.

‘No ability to move forward’: Low credit scores cripple a family paying $2,400 a month to live in a hotel


SPOKANE, Wash. – First-time home buyers are struggling to break into the housing market.

Nationally, nearly 2 million potential buyers are expected to be assessed this year, according to the National Association of Realtors.

NAR says that’s about 10% of local families.

Credit scores are critical in this tight housing market, especially for first-time home buyers.

The higher you can get this number, the more competitive you will be.

Local loan officer Jared Wash says 680 is a good starting point, but 720 will get you better interest rates. A local family was approaching a decent credit score before COVID-19 hit. Today, their reality is very different.

The Keifers are a family of four crammed into a hotel room for lodging. During the shutdowns, they both lost their jobs and started to make ends meet by paying their bills with credit cards.

Before COVID, they were trying to raise their credit score by about 20 points – to around 630 – so they could buy a house.

Now they’re just trying to get out of a hole with a broken credit score that’s now in the 400s.

“Right now, with how much we’re paying for hotel, for transportation, for all that stuff, we might be able to pay one unpaid bill a month. At this rate, we’ll never be able to get our credit score anywhere,” James Keifer said. “We’re paying the amount most people would pay for a house payment here.”

They pay around $2,400 a month for two beds and a kitchen. What keeps them there is a low credit score.

At Wheatland Bank, Jared Wash meets people every day who want to buy a home but can’t.

“I see a lot of people who during this time had to put a lot of money on their credit cards, so they steadily saw their credit score drop,” he added.

That’s what the Kiefers did when they lost their jobs, and they’re still paying it today.

“Without being able to pay outstanding bills that are being collected, we have no ability to move forward,” added James.

The first step to moving forward is to establish a plan for increasing credit by paying off credit cards and paying your bills on time.

“These late payments have very negative effects on your scores,” Wash said.

He says if families stay committed to these plans, it will take about three to six months to see your credit score start to improve.

At this point, the Kiefers aren’t close to homeownership, but they’re working on it.

“I would give a kidney to give my kids a room,” James said.

Credit cards can be dangerous, but Wash says they’re still necessary to build your credit score and help you qualify for a mortgage. He suggests making small purchases each month and making sure you pay them back. There are also down payment assistance programs to help first-time home buyers.

If you don’t have tens of thousands in savings, a local loan officer can help you find other ways to pay the bill.

RELATED: ‘We’re trying’: Local families live in hotels due to tight housing market, fearing they’ll end up on the streets

READ: 7 years later: Family can finally live under one roof in Spokane’s brand new affordable housing complex

Illinois Child Tax Credit In The Works – What Obstacles Does It Face?


Page Lumiere Studios/Getty Images

Democrats in the Illinois State Senate and House of Representatives are simultaneously proposing legislation that would expand the state’s earned income tax credit and also create a state child tax credit. Illinois. The funds, which would amount to a tax cut for many residents, would help reduce child poverty and alleviate some of the high prices recently due to inflation, supporters of the bills say.

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More than 100 organizations across Illinois have endorsed the legislation, according to a report by NBC affiliate WGEM.com.

The earned income tax credit, in particular, would expand eligibility to 1.2 million people beyond the 3.6 million Illinois residents who already receive the state credit. Representative Carol Ammons pointed out that the plan would expand eligibility to reach underserved communities, with the EITC reaching 44% of all black households and 65% of Latino households in the state. Overall, this would give 40% of all Illinois residents a permanent tax reduction.

As part of the legislation, a child tax credit would be introduced in year two, providing up to $600 to all eligible families with dependents under the age of 17. This would be offered as a fully refundable tax credit when the resident files his Illinois state taxes.

The Center for Tax and Budget Accountability noted that the plan could cost about $415 million, or less than 1% of the money the state takes from the General Revenue Fund each year, WGEM.com reports. CBTA’s Allison Flanagan said lawmakers could use $105 million in ARPA funds for EITC expansion in 2023. Funds for subsequent years could also come from ARPA dollars, she said. reported to WGEM.

Capping tax rebates for retailers and tax credits for private scholarships could create an additional $266 million dollars per year to fund new programs. She added that she believes the EITC and CTC funds could pump up to $1 billion back into the Illinois economy by putting money in the hands of low-income workers, who will get out and spend this money in their communities.

Child tax credit revival: Romney fights for major overhauls and bipartisan support
Earned income tax credit: Everything you need to know before you file this year

But the legislation is not without obstacles and obstacles. First, the annual child tax credit of $600 is a drop in the ocean compared to the $250 or $300 per child per month that people received under the federal program. Additionally, while earned income tax credit relief may be quicker, the CTC is not expected to come into effect until 2023.

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About the Author

Dawn Allcot is a full-time freelance writer and content marketer with interests in finance, e-commerce, technology, and real estate. His long list of publishing credits includes Bankrate, Lending Tree and Chase Bank. She is the founder and owner of GeekTravelGuide.net, a travel, technology and entertainment website. She lives in Long Island, New York, with a veritable menagerie that includes 2 cats, a rambunctious kitten and three lizards of different sizes and personalities – plus her two children and her husband. Find her on Twitter, @DawnAllcot.

AerCap multi-billion dollar insurance claim

The world’s largest aircraft leasing company, AerCap, has filed $3.5 billion in insurance claims after more than 100 of its planes were stranded in Russia following the widespread imposition of sanctions against that country. Before the sanctions, AerCap had 135 planes placed with Russian airlines. But so far, the lessor has only recovered 22.

AerCap CEO confirms insurance claims

On an investor call last week, AerCap chief executive Gus Kelly confirmed the filing of insurance claims. Aercap is just one of many lessors with aircraft stranded in Russia. In total, more than 400 leased planes remained stranded in the pariah country. Compounding the problem for lessors like Aercap, a new Russian law allows Russian airlines to re-register planes and keep flying them.


AerCap is the world’s largest commercial aircraft owner and most active aircraft trader, with approximately 1,750 aircraft on its books. Backers say Russia’s new laws contravene international aviation agreements and equate to theft – and it’s sparking a chain of insurance claims.

Gus Kelly, CEO of AerCap

AerCap CEO Gus Kelly (pictured) says Russian airlines are now flying its planes illegally. Photo: AerCap

No guarantee that AerCap can recover its planes stranded in Russia

“Many of these planes are now flown illegally by our former airline customers,” Mr. Kelly said on the investor call. The CEO said around 5% of AerCap’s fleet by net book value is leased to Russian airlines and the lessor continues to try to repossess its planes, but there is no guarantee that will happen.

“AerCap intends to fully comply with all applicable sanctions, and we have ended the lease of all of our aircraft and engines to Russian airlines.“, AerCap said in a statement. “We continue to make efforts to repossess additional aircraft and engines from our former Russian airline customers, but it is unclear if we will be able to do so or what the condition of these assets will be. at the time of recovery.

“We expect to recognize an impairment on our assets in Russia that have not been returned to us as of the first quarter of 2022, although we have not determined the amount of any impairment.”

Airbus A320neo S7 Airlines

Unlike Aeroflot, S7 Airlines is a major customer of AerCap. Photo: Airbus

Aeroflot a small customer of AerCap

State-owned Aeroflot is Russia’s largest airline. Airline database planespotters.net reports 180 planes in Aeroflot’s fleet, correct as of April 3. A significant portion of these aircraft are marked as leased. Historically, Aeroflot has dealt with a wide range of lessors, but knowing who picked up which planes and when is tricky business. Most AerCap aircraft stranded in Russia are not with Aeroflot. Lessors most exposed to Aeroflot are GTLK State Transport Leasing, SB Leasing and SMBC Aviation Capital. Since GTLK is a Russian-based lessor, they probably won’t need to take back planes.

Aircraft leasing database ch-aviation.com reports that Aeroflot owns four Aercap aircraft worth nearly $92 million, including three A330-300s and one A320-200. A big Russian customer of AerCap is S7 Airlines, with 44 AerCap aircraft worth nearly $743 million. Ural Airlines, headquartered in Yekaterinburg, owns 20 AerCap narrow-body Airbuses worth nearly $350 million. Budget airline smartavia also has 11 planes from AerCap – a mix of narrow-body Airbuses and Boeings.

Lessors and their insurance companies are reportedly in talks over potential payouts. But like most insurance settlements, AerCap’s CEO doesn’t expect payouts to come easily or quickly.

Source: The Wall Street Journal


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Dave Ramsey: New Beginnings Include Reimbursement and Credit Card Abolition | News


Dear Dave: My husband and I are going to divorce and everything will be final in less than a month. I haven’t worked outside the home in a few years, but under the terms of the divorce, I will receive $75,000 in cash the day the divorce is finalized. I also have a credit card debt of about $5,000 which I am responsible for paying. Other than that, I have no debt. Can you give me advice to move forward in my life?


Dear Starla: I’m so sorry to hear you’re going through this.

Credit card debt is only a small part of your financial situation right now. Still, my advice is to go ahead and pay it back as soon as you receive the settlement money. This way, you will have no more debt and you will always have $70,000 in the bank.

There is a small catch, however. You will have to live for a while as if that money was not there. Use just enough to settle somewhere else, if that’s a consideration, then start looking for a job so you can eat and pay for utilities. There are tons of places hiring right now, and the money is decent, so it shouldn’t be too hard to start making a steady income soon.

If you do that, that big chunk of money will still be there a year from now when the pain of divorce has eased a bit. At this point, you will be stronger and more emotionally and mentally ready to think about the future and make real plans.

And if you haven’t already, cut off that credit card and close the account. The last thing you need right now is a way to get into more debt.

— Dave

David Ramsey is a financial consultant, author and radio host.

Everyday Cheapskate: Credit is a privilege, not a right | Advice


Dear Mary: I just found out that my parents are being discriminated against because they don’t have a credit card. It’s a huge injustice if you discriminate because of color, race or religion, and it’s totally unacceptable in our society.

If you don’t have a credit card, you are not allowed to rent a car; you cannot fly in an airplane; and I’m sure there are other issues of this nature that I haven’t discovered yet.

Cash is not an option with these services. Isn’t that unacceptable?

Dear Jonathan: I understand your frustration. It seems unfair that some businesses these days are averse to money. However, I don’t think it’s a civil rights issue.

Credit, like driving a car or owning a home, is a privilege, not a right. The same goes for air travel and car rental. These are not rights guaranteed to us by the laws of the land, but opportunities and privileges.

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In my opinion, companies should have the right to offer their services under the legal terms and conditions of their choice. I’m such a capitalist and fan of free enterprise that I can’t imagine enacting laws forcing businesses to accept cash or forcing banks to extend credit as a matter of civil rights.

Living on money alone is possible, even for your parents. It’s just a little more difficult sometimes.

Take your examples of renting a car or buying a plane ticket. You can’t do either on a whim without a credit card. You need to plan ahead.

I just randomly called five travel agencies. All five will accept cash for plane tickets. And most car rental companies also accept cash. You must be prepared to pay a substantial cash deposit, refundable upon return of the car. Seems fair to me.

I recommend that every family needs a good all-purpose credit card for the reasons you cite, as well as to establish a good credit rating.

For those struggling to qualify, there is the option of a secured credit card. To obtain the card, you must deposit money in a savings account (usually around $300), which is held on deposit to guarantee payment in the event of default by the cardholder.

A secured credit card is a good way to establish credit because after a few years with a good track record, it can be converted into a regular card account. To find a list of companies offering secured credit cards, including terms and conditions, see IndexCreditCards.com.

Dear Mary: When I run out of money, can I pay my credit card bill with a credit card?

Dear Eileen: Technically, yes, you can by taking a cash advance on one card, depositing that money into your bank account, then writing a check to make payment on another card. So yes, unfortunately you can pay your credit card bill with a credit card.

But can you do it? Not if you ask me, what I believe you are. No you can not!

That would be so stupid because even though it might keep you out of hot water for a few precious weeks or months, it will eventually come back to bite you. If you can’t track the first card, what makes you think you’ll be able to manage the balances of two card accounts?

Instead of that crazy idea, you need to freeze your spending, sell assets, find another job, or do whatever else you need to do to keep your payments up to date and that balance paid in full — and I mean ASAP.

Dear Mary: Do I need to sign the back of my credit card? I heard that I could avoid credit card fraud if I didn’t sign it.

Dear Cynthia: Yes, you must sign it. Forget what you heard. This card is not valid until it is signed.

Both Visa and MasterCard require an employee who receives an unsigned card to request photo ID and the customer to sign the card on the spot. Otherwise, the transaction must be refused.

Many people think they can reduce the risk of fraud by writing “Show ID” or “Ask ID” on the back of the card rather than signing it. This does not waive your responsibility to sign the card and does not obligate the clerk to request identification. I hope it helped you!

Mary Hunt writes this column for Creators Syndicate. She is the founder of www.EverydayCheapskate.com, a lifestyle blog and the author of “Debt-Proof Living”. Submit comments or advice or answer questions on its website. She will answer general questions through this column, but letters cannot be answered individually.

Welcome to the second trimester; here is a list of things to do – Twin Cities


With the first three months of 2022 behind us, it’s a good time to take stock of your financial plan. In this follow-up article, we focus on things that can help you stick to a well-constructed financial plan in the next quarter.

Bruce Helmer and Peg Webb


Friday was April Fool’s Day – and a good time to make sure no one messed around with your credit card or bank accounts. More than 98.2 million people were affected by the 10 largest data breaches in the first half of 2021, according to the Identity Theft Resource Center (ITRC) and the US Department of Health and Human Services. And while most victims say they lost less than $500, 21% say they lost more than $20,000 to identity criminals, according to the ITRC.

With the increase in breaches and identity thefts, some people have turned to credit monitoring services for protection. These services automatically notify you of errors or inconsistencies in your credit reports so that you can proactively address potential misuse of your personal information. The three major credit bureaus – Experian, Equifax and TransUnion – must provide you with free access to your credit report once a year to help you report errors or attacks on your credit. It is important to remain alert to the warning signs of identity theft that may be lurking in these reports. Tell-tale signs of potential identity theft include: reported payments you didn’t make, credit accounts you don’t recognize, misspellings in your name and address, and justice that you are unaware of (suggesting that someone can pretend to be you in a legal proceeding).


This year, your 2021 federal tax return is due April 18 (state returns vary: Minnesotans have until April 18). Make sure you’ve maxed out your traditional or Roth IRA contributions for 2021. Don’t forget, once the dust has settled, to take your completed tax return to your financial advisor to review your tax strategy for 2022. Pay special attention to the declared taxable income of 1099-INT and 1099-DIV. Now is a good time to consider whether your investments — especially those from passive investments held outside of qualified plans, such as ETFs — are truly tax-efficient.

April 18 is also Tax Freedom Day this year. Tax Freedom Day represents the length of time Americans must work to pay the country’s tax burden. This is also an opportunity to see how well your tax-deferred 401(k) and/or tax-advantaged Roth IRA are helping you progress toward your retirement goals.


Mother’s Day is May 8 and Father’s Day is June 19. If you have aging parents, you’re probably thinking about their financial and emotional well-being. Take the time these days to reflect on the state of your parents’ finances, their health care needs, their living arrangements and their estate plan. Maybe it’s time to have that difficult but necessary discussion about the next chapter in their lives.

Know that if you are caring for seniors, you are not alone: ​​the elderly population is already large and will continue to grow considerably in the future, undoubtedly putting a boomer stamp on all aspects of life. . Several statistics confirm this: although they represent 16% of the total population of the United States, more than two-fifths (41%) of the “baby-boom” generation in the United States are now 65 years of age or older. Among people aged 65 and over, 61% lived with their spouse/partner in 2020, and about 27% lived alone. By 2040, there will be about 81 million older adults living in the United States, more than double the number in 2000, according to the Administration for Community Living’s 2020 Profile of Older Americans.


We will be halfway through the year on June 30. Now is a great time to check in on your progress since you set your annual goals in January. Expenses higher than you expected? Track your spending for the next three months to see where it’s all going. Making progress with this fitness regimen? Remember that small changes in your behavior can yield impressive results over time. The important thing is to do your best to stay on target, but don’t punish yourself if you take a small misstep.

The opinions expressed herein are for general information only and are not intended to provide specific advice or recommendations to any individual.

Bruce Helmer and Peg Webb are financial advisors at Wealth Enhancement Group and co-hosts of “Your Money” on KLKS 100.1 FM on Sunday mornings. Email Bruce and Peg at [email protected] Securities offered by LPL Financial, member FINRA/SIPC. Advisory services offered by Wealth Enhancement Advisory Services, LLC, a registered investment adviser. Wealth Enhancement Group and Wealth Enhancement Advisory Services are separate entities from LPL Financial.

Why Abbott Elementary could be the next big sitcom

Sitcoms have been a staple of American television since the very beginning of its history, with laughter and joy being two things people can always relate to. The public jubilation over 100 years of television can largely be attributed to sitcoms. After all, comedies have long been known to be one of the cheapest genres to produce, and in the early days of TV production, that meant every studio produced as many comedies as they could for as little as it cost. . Unfortunately, television budgets are much larger these days and have allowed studios to produce shows in more expensive genres, making sitcoms all but disappear.


Luckily, a great new sitcom arrives every few years that reminds audiences everywhere that laughter is still the best medicine and that comedies are as relevant as they’ve always been. One of these shows is Abbott Elementary School, a mockumentary-style sitcom about a second-grade teacher and her co-workers trying to guide their students through Philadelphia’s public school system. The series began airing in December on ABC as a mid-season entry, and with a second season underway, Abbott Elementary School has several reasons why he should stick around for years to come.

Show creator and cast

ABC's Abbott Elementary School

One of the main reasons why Abbott Elementary School has already achieved so much success must be credited to the woman who made the series possible in the first place – creator and star Quinta Brunson. Brunson plays the main character, Janine Teagues, a second-grade teacher who proves in every episode that she cares more about her students than anything in the world. Thrown into a system that seems to have abandoned her students and her faculty, Janine struggles to put in the effort not only to help her students succeed in life, but also to help her colleagues rekindle the spark they once had. to educate the young people of their city.

RELATED: Abbott Elementary Partners with Scholastic to Bring Free Book Fairs to Underfunded Schools

Now, the show is a sitcom, so Janine very rarely fully succeeds in her endeavors, but even the occasional win is a tick in the W column as far as she’s concerned. Not only is Brunson brilliant, but the cast of teachers who Abbott Elementary School has set up is a comic goldmine. A principal who would be better suited as a TikTok star, an awkward/baby-faced history teacher who supports Janine’s plight but is too awkward to be helpful, two veteran teachers who know Janine’s actions are ungrateful and a love-teacher surrogate who regularly insists it’s only a temp job. The episodes practically write themselves.

The relevant content of the show

ABC's Abbott Elementary School

Speaking of the episodes practically writing themselves, Abbott Elementary School should be renewed for several seasons due to the relevance of the content. A significant part of the population went to elementary school. Even though it was during our younger years, we still have important and pivotal memories from those days that helped shape us into the people we have become. But we also have hilarious memories of all the shenanigans young teenagers are forced to get themselves into. Abbott Elementary students and teachers are no different.

RELATED: ABC Sitcom Abbott Elementary Breaks Impressive Record

Each episode revolves around an event/ordeal that often happens in elementary schools across the country – open houses, receiving new technology, dealing with substitute teachers, etc. The list goes on and on, and anyone who’s ever been in an elementary school classroom can relate to it. Not only are the stories relatable, but so are the teachers and students. Everyone had an over-the-top teacher like Janine, who was always trying to do too much; everyone had a substitute teacher who didn’t care to be there; everyone had a manager where it was doubtful they even got the job in the first place. If a person went to elementary school, they can laugh at Abbott Elementary School (and that’s a lot of people).

Dummy Comedy Success

Sitcom Mockumentaries The Office and the Modern Family

While this particular element isn’t a surefire sign of a successful show, there’s no denying that dummy sitcoms have done well, especially in recent years. Office, Parks and Recreation, What we do in the shadows, and modern family were all shot in the mockumentary-style format, and all were considered a hit among critics and fans alike.

Abbott Elementary School mostly looks like Office, Parks and Recreationand Modern family. With the series airing on ABC — the same as modern family — it’s a safe bet that Abbott Elementary has officially received the sitcom torch.

Reese Witherspoon as Elle

Legally Blonde 3: Plot, Cast, and Everything We Know

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Suspect allegedly took credit cards from woman at Jamaica Center subway station – QNS.com


Cops are looking for this suspect who allegedly stole credit cards from a woman in the Jamaica Center subway station and then used them to make purchases at Jimmy Jazz on Jamaica Avenue last month. (Photo courtesy of NYPD)

Police officers from the 103rd district in Jamaica and Transit District 20 are looking for a man who allegedly stole a woman’s credit cards from inside the Jamaica Center Parsons/Archer subway station last month.

The 51-year-old was inside the train station around midday on Tuesday March 8 when she realized her purse wallet was open and her credit cards were missing.

An unknown person was captured on a surveillance camera at the Jimmy Jazz clothing store at 163-23 Jamaica Ave. later that day, making approximately $1,000 in unauthorized credit card purchases using the victim’s credit cards, police said.

The suspect fled the store heading east on Jamaica Avenue. He has his hair cropped short and was last seen wearing a black jacket over a Brooklyn Nets sweatshirt.

Anyone with information about the identity of the suspects is asked to call the NYPD’s Crime Stoppers Hotline at 800-577-TIPS (8477) or for Spanish, 888-57-PISTA (74782). The public can also submit their tips by logging on to the CrimeStoppers website at nypdcrimestoppers.com, or on Twitter @NYPDTips. All calls and messages are kept confidential.

Forget the Fed, Pay Off Your Credit Card Debt | Local company


By SARA RATHNER of NerdWallet

The cost of everything keeps rising. And if you happen to have credit card debt, that’s also likely to get a bit more expensive, thanks to a series of interest rate hikes starting this month.

With inflation at its highest rate since the early 1980s, the Federal Reserve is adjusting interest rates to hopefully stabilize the US economy. In short, the Fed changes the federal funds rate, which changes the prime rate – this is the rate banks charge customers with high credit ratings. Credit card issuers add to the prime rate to set their interest rates, so when the prime rate goes up, so does what you’ll pay when you’re in debt.

Do you have all that? Awesome. Now forget what you just read and pay attention to this part: if you have significant credit card debt, it doesn’t matter what the Fed does. Your credit card debt has always been and will continue to be costly.

The real cost

If you have a balance of $5,000 left on your credit card from month to month and your interest rate is 16%, you will be spending $800 in interest over the course of a year. If your interest rate increases to 16.25%, that translates to just $13 more in interest over a year.

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Technically, this means it’s not so much a rate hike as a slight upward slope. But $800 was already a lot, and that’s without considering the fact that you’ll still have to spend extra money that you might not be able to pay back. Bills don’t stop just because you’re in debt.

That’s why squeezing a stress ball while watching the news isn’t helpful in this case. What helps is to face money problems head on.

“The hardest part is ripping off the bandage and adding up the numbers to see how much you owe,” says Akeiva Ellis, certified financial planner and founder of The Bemused, a financial education brand for young adults. “But if you’re able to get to that point, it’s really about making a plan. Don’t let your debt overwhelm you. The sooner you can face the numbers and devise a plan to pay it back, the easier you’ll breathe.

Pay less interest

– Shop around for better deals: The average FICO score in the United States rose to 716 in August 2021, and this increase was more prevalent for those with lower credit scores. (FICO scores of 690 or higher are considered good credit). Advice. He recommends checking your credit report and score to see if you’ve moved to a higher score range. If so, you may be able to negotiate a better interest rate on your credit card.

— Consolidate your debts: This higher credit score could also qualify you for a balance transfer credit card with an interest-free promotional period or a low-interest personal loan. These can both give you a high interest reprieve, but note that this depends on what terms you qualify for. And in the case of balance transfer cards, the interest rate will go up as soon as the 0% period ends.

— Review your budget: the more money you can apply to your monthly credit card payment, the faster you can get out of debt. But that’s easier said than done in a time of rising prices. “Rising interest rates don’t live in a vacuum,” says McClary. “Other things keep happening that increase the financial pressures on every American.” If you’re not sure where to start, McClary recommends getting help from a financial advisor or nonprofit credit counseling agency. “Anything people can do to be proactive, they’ll thank themselves later.”

— Use a debt repayment method: This can help you stay organized and motivated, especially if you have several debts at the same time. Ellis suggests the debt avalanche repayment method, where you list your debts from highest to lowest interest rate, make minimum payments on each, and apply any extra money in your budget to the highest debt. raised first. Once you’ve paid that, focus on the next debt on the list, and so on. “For most people, credit card debt is their most expensive debt,” Ellis says. “So that’s something that I usually encourage people to focus on first.”

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.

Ukraine-Russia War: Latest News and Live Updates

Farmers spend more to operate their tractors and combines. Shipping and trucking companies are passing the higher costs on to retailers, who are beginning to pass them on to buyers. And local governments are paying hundreds of thousands more to fill school buses. Construction costs may also increase soon.

The source is the sudden spike in the price of diesel, which is quietly undermining the US and global economies by driving up inflation and putting pressure on supply chains from manufacturing to retail. This is one more cost of the war in Ukraine. Russia is a major exporter of diesel and crude oil from which diesel is made in refineries.

Car owners in the United States were shocked by gasoline prices of over $4 a gallon, but there was an even bigger increase in the price of diesel, which plays a vital role in the economy. world because it powers so many different types of vehicles and equipment. A gallon of diesel sells for an average of $5.19 in the United States, according to government figures, up from $3.61 in January. In Germany, the retail price climbed to 2.15 euros per litre, or $9.10 per gallon, from €1.66 at the end of February, according to ADAC, the national version of the AAA.

Petrol stations in Argentina have started rationing diesel, jeopardizing one of the world’s major agricultural economies, and energy analysts warn the same could soon happen in Europe, where some companies say they are spending twice as much diesel as a year ago.

“Not only is that a historic level, but it’s been growing at a historic rate,” said Mac Pinkerton, president of North American ground transportation for CH Robinson, which provides supply chain services to trucking companies and to other customers. “We’ve never experienced anything like this before.”

The sharp increase is putting immense pressure on trucking companies, especially small businesses that are already suffering from driver shortages and scarce spare parts. Many can only pass on increased fuel costs to their customers after a few weeks or months.

Eventually, consumers will feel the effect of higher prices for all kinds of goods. Although difficult to quantify, inflation will be most visible for big-ticket items like automobiles or appliances, economists say.

“Really, everything we buy online or in a store is on a truck at some point,” said Bob Costello, chief economist for the American Trucking Associations.

Credit…Alex Welsh for The New York Times

Manufacturers are also heavy users of diesel, driving up prices for factory products. The price of food will increase because agricultural equipment generally runs on diesel.

“It’s not just the fuel that we put in pickup trucks, tractors, combines,” said Chris Edgington, an Iowa corn farmer. “It’s a cost of transporting these goods to the farm, it’s a cost of transporting them.”

At the start of the pandemic, diesel prices fell sharply as the global economy slowed, factories closed and stores closed. But from the beginning of 2021, there was a clear rebound with the recovery of road and rail traffic. Prices, which have risen fairly steadily over the past year, gained momentum in January when Russia massed troops near Ukraine and then invaded. Low fuel inventories, particularly in Europe, added to price pressures.

“Diesel is the most sensitive and cyclical commodity in the oil industry,” said Hendrik Mahlkow, a researcher at the Kiel Institute for World Economy in Germany, who has studied commodity prices. “Rising prices will ripple through the entire value chain.”

Refineries, which turn crude oil into fuels usable in cars and trucks, have been trying to catch up on both sides of the Atlantic in recent months. But they weren’t able to make more diesel, gasoline and jet fuel fast enough. This is partly because refineries have closed in Europe and North America in recent years and more of the world’s fuels are being refined in Asia and the Middle East.

Since January 2019, refining capacity has shrunk 5% in the United States and 6% in Europe, according to Turner, Mason & Company, a Dallas consulting firm.

Europe is particularly vulnerable because it depends on Russia for 10% of its diesel. Europe’s own diesel production also depends on Russia, which is a big supplier of crude oil to the continent. Some analysts say Europe may have to start rationing diesel as early as next month unless the shortage eases.

Diesel prices and Germany’s reliance on Russian energy were among factors that prompted Germany’s Council of Economic Experts on Wednesday to more than halve its 2022 growth forecast to 1 .8%.

Russian diesel has been flocking to Europe since last month’s invasion, but traders, banks, insurance companies and shippers are increasingly turning away from the country’s diesel, oil and other exports.

Several major European oil companies have announced that they are leaving Russia. TotalEnergies, the French oil giant, said this month that it would stop buying Russian diesel and oil by the end of the year.

The oil and diesel market is global and companies can usually find another source if their main supplier cannot deliver. But no oil company or country can quickly compensate for the loss of Russian energy.

Saudi Arabia, for example, has not increased its diesel exports because one of its largest refineries is undergoing maintenance. The kingdom and its OPEC Plus allies have also refused to increase crude oil production because they are happy that oil prices remain high. Russia belongs to the group and exerts a significant influence on its colleagues.

Christine Hemmel is the director of a trucking company in Ober-Ramstadt, Germany, which has been in her family for four generations. His family’s business faces nearly every challenge midsize carriers have faced since the pandemic began.

The prices of tires and spare parts have often doubled. The price of wood used for freight pallets has skyrocketed. Experienced drivers are hard to find. AdBlue, a fluid trucks need to comply with emissions regulations, costs four times as much as before and is sometimes unobtainable, she said.

Ms Hemmel’s company Spedition Schanz, which has 35 trucks, is paying twice as much for diesel as it did a year ago, she said. This translates to additional expenses of €252,000, or $280,000, every three months. Within the framework of contracts with customers, the company can pass on the increase, but with a period of three months.

Credit…Felix Schmitt for the New York Times

“It’s crazy how prices are exploding,” Ms Hemmel said on Tuesday. She expected them to stabilize, she said, but “there’s no end in sight.”

Eventually, she says, “we’ll pass it on to our customers, and they’ll pass it on to consumers.”

European energy companies are scrambling to find alternative sources of crude supplies as they stop buying Russian oil. One of the challenges is that Persian Gulf oil tends to contain more sulfur. Some European refineries cannot process this oil, and others have to make costly modifications to handle it.

Adding to problems at European refineries, the price of natural gas has risen sharply, driving up electricity costs. Refineries also use natural gas to make hydrogen, which, in turn, is used to remove sulfur from diesel to reduce air pollution. The German government on Wednesday began preparing to ration gas in the event of an acute shortage.

“It’s a market for the price of diesel,” said Richard Joswick, head of global oil analysis for S&P Global Platts, an energy research firm. “The increase in Europe is driving up the price of diesel everywhere.”

Mr Joswick warned that as refiners rush to make more diesel, they will inevitably produce less gasoline and other products, which could drive up energy prices across the board.

US refineries have exported more diesel to Europe from New York and the Gulf Coast in recent months. This is unusual, as these refineries typically sell most of their products to the domestic market during the winter, when diesel demand tends to be higher than in the summer.

“The Europeans are producing as much as they can, but they’re still short,” said Debnil Chowdhury, vice president and head of Americas refining at IHS Markit, a research firm. “And so the United States needs to fill that gap.”

US diesel exports to Europe have, in turn, helped push up prices in the domestic market by reducing supply. This could become a bigger problem. U.S. diesel inventories have fallen over the past year and a half and are at their lowest level in eight years, according to the Energy Department.

“There is a certain terror” in the diesel market right now, said Linda Salinas, vice president of operations at Texmark Chemicals, a Texas-based company that converts imported undistilled diesel — made from cooking oil. used and waste – into a renewable jet fuel. “How many times do we have a great power like Russia invading another country and having a global impact like this? All fuel flows are connected.

Ana Swanson contributed report.

HDFC Bank targets 1 million new credit cards with Shoppers Stop combination


HDFC Bank is aiming to acquire one million new credit card customers over the next three to four years through a co-branded partnership with retail chain Shoppers Stop, the bank said on Wednesday. The tie-up is part of a series of launches by the bank following the lifting of a regulatory embargo on new credit card issues in August 2021, and is seen as its response to ICICI Bank’s partnership with the trading giant Amazon electronics.

HDFC Bank, the biggest credit card player, had an outstanding credit card base of 16.3 million in February 2022, while ICICI Bank had 12.8 million cards, according to data from the Reserve Bank of India (RBI). Analysts estimate that the share of Amazon Pay cards in ICICI Bank’s total card base is around 17% at the end of December 2021.

Spending from non-banking partnerships currently stands at around 15% for HDFC Bank, said Parag Rao, Country Manager – Payments Business, Consumer Finance Technology and Digital Banking.

“Over the next two or three years, I expect it to grow by around 25-30%. That’s around 12% by number of our cards in circulation for existing co-brands like Indigo, InterMiles, Times Card, among others,” Rao said. As more launches take place, the bank expects co-branded cards to represent 35-40% of its total card base over the next two to next three years.

The retail category contributes about 10% of card spend, Rao said. The Covid years have reconfigured the contribution of different categories, with the travel segment, previously a major contributor, having fallen. Now, categories like sustainable shopping and daily necessities, which used to be a fragmented segment, have become one big category. Clothing and eating out have picked up over the past three or four months. “Hopefully from what we’re seeing and hearing, travel, airline bookings and hotels are coming back,” Rao said.

HDFC Bank has already entered into alliances with airlines, fashion and general category retailers. He is now looking at categories like digital-only cards, a partnership with a major telecommunications player and another with a large diversified multi-wallet conglomerate. The lender will also consider a few digital-only partnerships in the restaurant and local mobility categories, among others. “While we may be strong in many (segments), there may be some that we believe have future potential and areas that we can leverage with our partners,” Rao said.

He further stated that the problem of higher stress levels in the retail segment is now easing. “For us, too, there was some uplift, but never too worrying or otherwise. I think that’s gone too. From how I see it at a very high level, I think it’s a good time for growth to happen over the next 18-24 months,” Rao said. According to him, much of the problems caused by the pandemic have disappeared and the customers who are still in the loan market are good customers from a relative risk point of view.

5-year variable-rate student loans fall back below 6%


Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

Credible Market’s latest private student loan interest rates, updated weekly. (iStock)

Average private student loan rates for borrowers with credit scores of 720 or higher who used the Credible Marketplace to take out student loans increased for 10-year fixed rates, while 5-year variable rates fell during the week of 21 March 2022:

  • 10-year fixed rate: 6.82%, compared to 5.35% the previous week, +1.47
  • 5-year variable rate: 5.99%, compared to 6.61% the previous week, -0.62

With Credible, you can compare private student loan rates from multiple lenders without affecting your credit score.

Private 10-year fixed-rate student loan rates rose more than a point this week, while 5-year variable rates fell. While fixed rates had previously trended steadily downward for four straight weeks, variable rates have been more unpredictable. This week’s increases put 10-year fixed rates at their highest levels since February 2021, while 5-year floating rates remain consistent with a volatile trend. Borrowers can take advantage of interest savings now with a 5-year variable rate loan.

You should always exhaust federal student loan options before turning to private student loans to cover any funding shortfalls. Private lenders such as banks, credit unions, and online lenders offer private student loans. You can use private loans to pay for education and living expenses, which may not be covered by your federal student loans.

Private student loan interest rates and terms may vary depending on your financial situation, credit history and the lender you choose.

Take a look at the rates from Credible Partner Lenders for borrowers who used the Credible Marketplace to select a lender during the week of March 21:

Private student loan rates (diploma and undergraduate)

Student Loan Weekly Rate Trends

Who sets federal and private interest rates?

Congress sets interest rates for federal student loans each year. These fixed interest rates depend on the type of federal loan you take out, your dependent status, and your school year.

Private student loan interest rates can be fixed or variable and depend on your credit, repayment term and other factors. Generally, the better your credit score, the lower your interest rate is likely to be.

You can compare rates from multiple student lenders using Credible.

How does student loan interest work?

An interest rate is a percentage of the loan periodically added to your balance – essentially the cost of borrowing money. Interest is a way lenders make money from loans. Your monthly payment often pays interest first, with the rest going to the amount you originally borrowed (the principal).

Getting a low interest rate could help you save money over the term of the loan and pay off your debt faster.

What is a fixed rate or variable rate loan?

Here is the difference between a fixed rate and a variable rate:

  • With a fixed rate, your monthly payment amount will remain the same for the duration of your loan.
  • With a floating rate, your payments can go up or down as interest rates change.

Comparative purchases for private student loan rates is easy when you use Credible.

Calculate your savings

Using a student loan interest calculator will help you estimate your monthly payments and the total amount you will owe over the term of your federal or private student loans.

Once you’ve entered your information, you’ll be able to see what your estimated monthly payment will be, the total you’ll pay in interest over the term of the loan, and the total amount you’ll repay.

About Credible

Credible is a multi-lender marketplace that allows consumers to discover the financial products best suited to their particular situation. Credible’s integrations with major lenders and credit bureaus allow consumers to quickly compare accurate and personalized loan options without putting their personal information at risk or affecting their credit score. The Credible Marketplace delivers an unparalleled customer experience, as evidenced by over 4,300 positive Trustpilot reviews and a TrustScore of 4.7/5.

Consumer watchdog probes $12 billion market for credit card late fees, says fees are a ‘significant challenge’ for Americans


The U.S. Consumer Financial Protection Agency released an in-depth study of credit card late fees on Tuesday, finding that credit card issuers earn $12 billion a year from these fees and the revenue comes from disproportionately poor Americans.

The government agency estimated that consumers had to pay an average fee of $26 for late payments and that consumers with the lowest credit scores, who typically live in disadvantaged ZIP codes, pay more than $300 per month. year in late fees.

“For some households, late fees are a costly mistake for payments that may be only a day or two late – for others, they are a significant additional hardship in times of financial insecurity,” says the report. “For credit card companies…late fees continue to bolster their bottom line.”

Credit card charges are regulated under a 2009 law that says late fees must be “reasonable and proportionate,” which was set at $25 for the first offense and $35 for payments subsequent misses, and the CFPB is required to adjust this figure annually for inflation.

The CFPB reports that credit card issuers earn $120 billion a year from credit card fees and interest, with 10% of that revenue coming from late fees.

Credit cards are often issued by major banks like Chase JPM,
and Wells Fargo WFC,
in partnership with companies like Visa V,
and Mastercard MA,
who maintain the payment networks. Many community banks, credit unions, and retailers are also involved in issuing credit cards.

The report comes after the CFPB released an analysis of bank overdraft fees motivating some banks to eliminate these fees and a separate analysis of medical debt on credit reports. Major consumer credit reporting companies subsequently announced that they would no longer include medical debt in their reports.

Women in action for the adoption of clean technologies

Guest blog by Akanksha Golchha

Climate solutions in Indian villages can improve livelihoods and bring about transformative social change, women leaders stressed during a two-day event “Efficient and clean energy solutions led by women in India: discussion with farmers organized by NRDC, Self Employed Women’s Association (SEWA) and its partners. Women are inequitably affected by climate change and more vulnerable to its impact due to social structures. Climate resilience must be inclusive and include partnerships with women. Capacity building and access to resources are essential tools for ensuring gender equitable development. Actions that enable women to both adapt to climate change and access resources to improve their livelihoods will bring significant gains.

The NRDC and SEWA are facilitating equal access of women and men to clean energy and technology in Indian villages as part of the Hariyali Green Village Plans. NRDC and SEWA, in partnership with the Association of State Renewable Energy Agencies, Ministry of New and Renewable Energy (AREAS-MNRE) and Clean Energy Access Network (CLEAN), hosted an event virtual two-day event with policy makers, farmers and clean technology providers. , and women who have adopted climate-friendly solutions such as biogas plants, solar pumps and cool roofs.

Snapshot of SEWA member Rekhaben sharing his experience of using solar pumps – “Solar pumps are a cheaper and cleaner alternative to diesel powered pumps, which can be used on demand without storing fuel”

Women are essential for India to achieve its ambitious climate goals. The majority of the Indian population lives in villages, with uncertain and irregular availability of the electricity grid. Distributed Renewable Energy (DRE) applications can help these villages become electrified, reduce drudgery and improve livelihoods. Households without access to clean energy technologies spend a substantial part of their monthly budget on the purchase of fossil fuels, mainly for cooking and pumping water. Thus, the adoption of clean energy technologies makes both environmental and economic sense.

Women are often at the forefront of effective rural development. Governments at state and national level in India, recognizing the critical role of women in achieving climate goals, are developing tailored policy instruments to address the needs of rural women and to implement DRE solutions to an unprecedented scale. For example, the recently announced Framework for Promoting Distributed Renewable Energy Livelihood Applications emphasizes capacity building and financing mechanisms for women.

Most rural women are employed in the informal sector, which often comes with fewer economic, social security and societal benefits. Access to clean energy technologies and finance are essential principles for improving living conditions, improving livelihoods and changing the status quo of societal structures. Furthermore, it enables women to contribute to decision-making processes. Most rural women do not own assets, which limits their ability to access formal lines of credit. Women’s and men’s loan requirements differ based on their income streams, use of technology, and ability to meet repayment deadlines. In some cases, a male family member may jointly apply for a loan and provide his assets as collateral for a female without asset ownership. It is important to develop innovative and adapted financing mechanisms that improve the availability of credit for women so that they can invest in clean technologies.

Snapshot of SEWA member Sangitaben Rathod sharing his experience of using a biogas plant – “Biogas is very beneficial to all of us resulting in economic benefits, time savings and reduced effort to collect firewood. However, the high initial costs remain a challenge”

Technology vendors discussed the business models they have implemented to address funding challenges, including group co-ownership models. In such an arrangement, women’s self-help groups can co-own and share assets such as a solar pump or solar cold storage unit, for the benefit of the whole group. However, all of these solutions require constant interaction between the technology provider and the technology user – to build trust in the product and to structure personalized financing products. The SEWA sisters highlighted the need for rapid availability of after-sales services to ensure that assets are repaired and maintained, as needed, and operating optimally. Building local capacity ensures timely repairs and resolution of grievances, so asset owners are able to reap maximum benefits and create livelihood opportunities.

Many policies, technologies and funding programs have failed due to limited outreach to targeted stakeholders, especially in rural areas. NRDC and SEWA work in the states of Gujarat and Rajasthan to raise awareness by leveraging the substantial network of SEWA sisters to build capacity and share knowledge on relevant policies, clean technologies and funding schemes.

Clean energy technologies must be affordable and accessible to everyone. Village women can be empowered to become agents of change, so that they, their families and their communities can benefit from the transition to clean energy. Equitable development can be achieved through the streamlined efforts of stakeholders – one technology, one household, one village at a time.

Akanksha Golchha is the Clean Energy Access Lead (Consultant) with NRDC

When to use your credit card (and when not to)


Want to become a savvy credit card user? You have come to the right place. This article explains when to withdraw your credit card and when to keep it hidden.

We will also talk about surprising places that do accept credit cards, as well as a few places that do not. Use this handy guide to make sure you always know how to answer the question: “And how are you going to pay today?”

When to use your credit card

There are a few situations where using a credit card can pay off big time. Before you get too enthusiastic, remember two important caveats:

  • Be sure to check your credit card policies before going this route. Not all credit cards are alike.
  • If you don’t pay off the entire balance at the end of the month, this seemingly innocent purchase will end up costing you dearly.

Expensive items

Throwing that big-screen TV on your credit card might seem a bit risky, experts say, but it might actually be the smartest move. Here’s why: Most credit card companies offer certain protections that can be useful when making large purchases. These include fraud protection, as well as the ability to dispute charges in the event of an error. Some credit cards even offer automatic extended warranties on certain purchases. A large purchase can go a long way toward your rewards total if you have a rewards card.

Other credit cards offer introductory periods of 0% APR for new purchases for 9 to 21 months. This means that if you make a large purchase, you can pay it off for a fixed period of time without earning interest. It’s a great way to save money on any major planned purchases.


Many hotels use credit cards to make reservations. There’s another reason you might want to use your card to book travel: check to see if your credit card includes secondary travel insurance. Another bonus? Some travel rewards cards offer additional rewards for travel-related purchases.

Also: Best Marriott Credit Cards: Enjoy Extra Travel Perks

Purchases made online

Many protections are in place for online shoppers using credit cards. Some cards also offer additional coverage in case the item arrives damaged or does not arrive at all. Make sure you are shopping on a secure site and be sparing with your personal information.

When you shouldn’t use your credit card

On the other hand, there are a few instances when using a credit card is a bad idea. Consider the following:

Student loans

It’s an expensive item, right? Still, the expensive item clause only works when you can pay off the balance at the end of the month. Since student loans are inherently repaid over time, credit cards are not the ideal tool. Even with rising interest rates on student loans, these interest rates are still lower than most APR credit cards.

Also: How to build good college credit

Medical bills

Medical bills can be overwhelming, and sometimes a credit card is the best option. However, be sure to talk to your healthcare provider or insurance company first; many offer payment plans that will keep the overall cost lower than interest-heavy credit card payments.

Anything that will inspire you to carry a balance

The biggest no-no when it comes to credit cards is spending beyond your means. If this big splurge means breaking your budget and carrying a sale, ask yourself if it’s really worth it.

Surprising reasons to use your credit card

Here are a few cases where, contrary to popular belief, the use of a credit card is actually encouraged:

To rent

Many landlords are increasingly willing to accept credit cards for rent. There are several reasons to consider this option. First, it helps build your credit. Second, this option allows you to make instant payments (no postage or courier delays). Finally, you may be able to earn rewards.

Monthly invoices

You might want to see if your gym membership, cable, cell phone, or utility bills can be placed on a credit card. In some cases, you can even schedule automatic monthly payments. This not only helps with budgeting and keeping up to date on payments, but it can also provide the same benefits described in the rent section above.

As always, this option works best if you’re a budget star who plans to pay off the full balance each month.

Also: How to create a budget with your credit card

Purchase you probably can’t make with your credit card

Credit card issuers typically charge retailers and service providers a fee, which is why some places, especially small businesses, simply won’t accept cards. There are also a few other categories of purchases where your credit card won’t be welcome:

New cars

These credit card company fees are on top of buying a new car, so it’s no surprise that most car companies don’t accept credit cards.

Also: Can you buy a car with a credit card?

Lottery tickets

This time, it is the card issuers who prohibit purchases. Some card issuers specifically prohibit the purchase of lottery tickets (but others allow it). Check with your card.

Tuition fees

We’ve discussed the dangers of putting student loans on a credit card; if you pay directly to the school, they are unlikely to take your card because of the fees.

Gambling chips in a casino

Let’s be honest: it’s a good thing that casinos don’t accept credit cards in exchange for gambling chips. This could lead to heavy losses multiplied by high interest rates.

[This article was first published on The Simple Dollar in 2020. It was updated in March 2022.]

How to increase your credit score online


Anyone who has ever applied for a credit card and been rejected knows that the main question that comes to mind is, “Why?” The usual answer is no credit score, although establishing one is difficult. To complicate matters, the financial system is a paradox: it focuses on your credit card or loan payments to create a score, but if you can’t get a card or a loan, you can’t establish a score. credit score.

The reason for this paradox is that traditional lenders tend to focus more on your income level or employment status than on paying your utility bills on time. This is how global credit risk models work, and it comes with drawbacks that affect rich and poor countries alike. In the United States, 63 million people (1 in 5 Americans)are unbanked or underbankedmeaning they don’t have a bank account or have limited access to financial services, according to the Federal Reserve.

This system disproportionately affects black and Latino householdsas well as many immigrants who cannot transfer their credit score from their home country to a new one, leaving them at a greater disadvantage in funding big goals like education or buying property.

Finding a solution to this problem has opened the door to alternative services that seek to bridge the gap between what banks think of your ability to repay them – known as your credit risk profile – and your actual ability to do so. do, which is generally underestimated. But it can be difficult to know which alternatives are legit and how they work. We’ve collected three in this guide that we hope will help you get the extra notch you need to be fully banked.

Increase credit

One way to establish or improve your credit score is to allow banks to consider different types of data about your financial behavior, such as utility and phone bill payments. This is considered “alternative” financial data, and although the US Government Accountability Office indicates more lenders are using it to determine credit eligibilitythere is no set protocol on how this type of data should weigh in their evaluation.

In this context, Increase credit spear in 2019 to provide small revolving lines of credit cover common subscription bills such as Netflix, Amazon, Hulu, HBO Max, and Spotify, to name a few that Grow Credit accepts. The company will give you a Mastercard credit card, without credit check, and you will need to link it to your bank account. You must use this card to pay for your subscriptions, and the balance on this card will be deducted from your bank account each month.

It works because credit reporting agencies like Equifax or Experian, which tell lenders about consumer credit scores, don’t factor utility bill payments into their scores like they do credit repayments. Because Grow Credit reports usage of its Mastercard as if it were a traditional credit card, it uses your bill payments to show banks what they want to see: your willingness to repay the debt.


Older and more complete than Grow Credit Carillona financial technology platform that has partnered with specific banks to provide banking services (checking accounts and savings accounts) and a Visa credit card that does not require a credit check or charge any fees maintenance.

The Chime credit card lets you cover all kinds of purchases, online and IRL, just like a regular card, but only up to the amount you deposit during your billing period. If you deposit $100, you can only spend up to that amount. If you deposit a little more, your line of credit increases, but you don’t spend your deposit yet. When it’s time to pay the credit bill, Chime will take the full refund of what you’ve deposited once a month and the rest will roll over to the next month.

Unlike many big banks that offer similar products, known as “secured” credit cards, you don’t need to make a $2,000 secure deposit to get a line of credit that never touches. This money. But Chime has requirements for issuing a credit card: you’ll need to open a Chime checking account and have deposits of at least $200 per month. The easiest way to fund this account is to make direct deposits with an employer, payroll provider, or “gig economy” company like Uber or Doordash, but Chime also accepts transfers from other banks, checks and cash transfers from authorized retailers.

Similar to Grow Credit, Chime will report your credit card usage to major credit reporting agencies as if you were using a regular revolving line of credit, adding points to your credit score over time. The website has a fairly slick web interface (similar in quality to the functionality of major banks’ credit and checking accounts), and Chime also offers companion apps for iOS and android.


Reached is a personal lender designed for people with low credit scores-approximately 300+ points – who reside in the United States and are employed full-time or about to start work. These minimum requirements can be especially helpful for newly arrived immigrants and for US citizens with damaged credit histories.

However, Upstart is not a bank. It is an artificial intelligence platform that partners with many small banks that will be able to generate loans while taking into account the non-financial data that Upstart includes in its credit score that will make you approve the ready. According to the Consumer Financial Protection Bureau, Upstart’s credit reporting model allows them to approve more applicants at lower rates than traditional banks.

Taking out personal loans can seem scary, especially when people with low or bad credit scores have had the experience of predatory lending with products like those sold by “usurers.” To get started, it’s important to recognize your spending limits and make sure you can pay off debt within those limits. But Upstart has shown that its practices are unrelated to predatory lending. Regulators like the CFPB looked at its credit risk model in 2019 and found that it adheres to fair lending practices and does not violate anti-discrimination laws. Furthermore, it seems to be well regarded by financial publications as NerdWallet.

Through Upstart, you can apply for loans between $1,000 and $50,000, for debt consolidation Where refinancing a car. For this story, I took Upstart’s “check your rate” assessment, which asks you questions about your income, your professional situation, your studies and certain expenses. You can complete the form fully online in about 10 minutes, but the response regarding your eligibility will come by mail. Unlike Grow Credit and Chime, Upstart doesn’t have a mobile app to track or make loan payments.

The interest rate varies from person to person, and just because you ask if you qualify for a loan doesn’t mean you have to accept what they offer. If you don’t, Upstart will follow up a maximum of twice and then leave you alone. When it’s time to pay off your loans, you can do so by check, over the phone, or make manual or automatic payments online.

None of these services have any record of investigations for consumer protection violations or fraud, which you can check by doing a search the Federal Trade Commission’s online legal library. If you have used one of these services and believe you have been treated unfairly or wish to raise a complaint that the service itself does not address, you can file a complaint with the CFPB.

What to do if you’re denied credit card approval


Select’s editorial team works independently to review financial products and write articles that we think our readers will find useful. We earn commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners.

Being denied approval for a credit card you just applied for can be frustrating, especially since credit cards can be a very useful tool to help fund your lifestyle, giving you the ability to earn rewards and welcome bonuses along the way. It is essential, however, that people pay off their balances on time and in full to avoid high interest rates or damage to their credit score.

If you need a new credit card and aren’t sure how to proceed after you’ve been denied approval, don’t despair. Below, Select explains how your credit score is affected by your card application and what cardholders should do after they are declined.

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What happens when you apply for a credit card and get declined?

When you apply for a credit card, issuers look at your creditworthiness by doing a thorough credit score investigation or, in other words, pulling your credit report from one of three credit bureaus, Experian, Equifax or Trans Union. According to FICO, a thorough investigation can lower your credit score by about five points.

While a serious inquiry will stay on your credit report for two years, FICO only includes them in calculating your credit score for up to one year. Note that new inquiries are only 10% of your credit score’s new credit category, and whether you’re approved or denied for a credit card, the serious inquiry itself will show up on your report.

If you’re actively looking for a new credit card, you might want to avoid applying for multiple cards at once. Since each request leads to an additional in-depth investigation of your credit file, this could indicate to lenders that you are a potentially risky borrower.

Under the Equal Credit Opportunity Act, creditors have 60 days to provide you with a specific reason why you were denied a line of credit. This is called an adverse action letter. You may be rejected for a variety of factors, such as having a low income, a short credit history, or too much credit card debt.

What can you do after being refused?

After you receive a notice explaining why you were rejected, you’ll want to focus on improving your credit score or finding new credit options, says Matt Schulz, chief credit analyst at LendingTree.

Sites like Select provide information on the types of credit scores you need to qualify for certain cards, so you’ll want to do your research before applying for another. Remember that you can always work to improve your credit score by making payments on time and in full.

Consider a secured credit card

If your credit history is too short or you have a bad credit rating, you may want to consider applying for a secured credit card. A secured credit card requires cardholders to put down a deposit, which serves as security if they are ever able to make payments.

The Discover it® Secured Credit Card is one such option, requiring a $200 security deposit. Beginning seven months from account opening, Discover will automatically review the cardholder’s account to determine if they are eligible to switch to an unsecured card.

Discover it® Secure credit card

On Discover’s secure site

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Call the bank and negotiate

You can also try to negotiate approval by calling the card issuer and speaking to a customer service representative. Note that some issuers may ask you to send proof of income, your social security information, and your address to verify your identity and information.

There are a number of reasons why you may have been refused a new card, even if your credit score is high: you may have too much credit with this bank or the bank may have a limit on the number of accounts that it will issue a customer. If you call the bank’s review line and give them a detailed and compelling case as to why you should be approved (perhaps you are a loyal, long-time customer with an excellent history of on-time payments) , they may be able to push your application through.

Your income may be higher than you think

You might also consider including your spouse’s or spouse’s income in your application, says Schulz. In 2013, the Consumer Financial Protection Bureau made changes to the Credit Card Accountability Responsibility and Disclosure Act, or CARD Act, a 2009 bill passed by the Obama administration that cracked down on predatory practices by credit card companies. These changes allowed people over 21 to include their loved one’s income on their credit card application.

Consumers over 21 are also allowed to include third-party earnings in their application as long as they have a “reasonable expectation of access” to those earnings, Schulz says.

You can also include investment returns, social security payments, retirement distributions, and income from rental property on your application to increase your chances of approval.

Use a credit monitoring service

Finally, you’ll want to take a look at your credit report to make sure the issuer isn’t making a loan decision based on an error or other misinformation that might be on your credit report. Each of the three major credit bureaus – Experian, Equifax and TransUnion – is required to provide consumers with at least one free credit report per year, which you can access through AnnualCreditReport.com.

Credit monitoring services can also track changes to your credit report and credit score and alert you to suspicious activity. Although free services usually don’t offer this option, you’ll need to opt for a paid credit monitoring service to handle reports from all three bureaus – fees can range from $8.99 to $39.95 per month depending on which one. That you are going. with.

Select Capital One’s CreditWise® as the best free credit monitoring service and IdentityForce® UltraSecure and UltraSecure+Credit as the highest paid service. Both make it easier for consumers to stay on top of their credit scores and credit reports, offering different features to ensure there are no surprises the next time they want to apply for a new one. credit card.

Capital One CreditWise®

Information on CreditWise was independently collected by CNBC and was not reviewed or provided by the company prior to publication.

  • Cost

  • Credit bureaus monitored

  • Credit score model used

  • Dark web analysis

  • Identity Insurance

IdentityForce® UltraSecure and UltraSecure+Credit

On the Identity Force secure site

  • Cost

    UltraSecure+Credit Individual starts at $139.90/year and UltraSecure+Credit Family at $209/year. Click “Learn more” for more details.

  • Credit bureaus monitored

    Experian, Equifax and TransUnion

  • Credit score model used

  • Dark web analysis

  • Identity Insurance

    Yes, $1 million for all plans

Conditions apply. To learn more about IdentityForce®, visit their website or call 855-979-1118.

For Discover it® secure credit card rates and fees, click here.

Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.

iShares MSCI Global Agriculture Producers ETF: May Fizz Away (NYSEARCA: VEGI)

Thomas Barwick/DigitalVision via Getty Images

The iShares MSCI Global Agriculture Producers ETF (NYSEARCA:VEGI) is an investment product that provides access to 145 producers of fertilizers, agricultural chemicals and agricultural machinery in developed and emerging markets. Companies involved in packaged goods and meats are also included in VEGI’s tracking index as they derive the majority of their total revenue from the production of agricultural products. Conversely, manufacturers of finished goods that depend on agricultural products as raw materials are excluded from the index. Also consider that although it appears to be a globally oriented product, a significant portion of the fund (57%) is biased towards US equities.

The largest stock in the ETF with a relatively high weighting is Deere & Co (DE) which accounts for 19% of the total portfolio (the second largest stock – Nutrien’s weighting is not even half that of Deere & Co.); As reported in The Lead-Lag Report, DE recently had a strong fourth quarter, with results beating expectations. Importantly, the company is also looking to take advantage of the high price environment, which should help it boost its margins. Overall, we saw DE lift its earnings guidance for the year.

John Deere


Should you consider VEGI?



Over the past three months, when global risk aversion was particularly pronounced, VEGI posted strong double-digit returns of 11%, even as the MSCI World Index saw its net total returns fall by 7%. Clearly, this ETF is riding high, even as the FAO’s World Food Price Index hit record highs of 140.7%.

Food prices


It’s easy to get overwhelmed with what’s happening in agricultural markets around the world, because it’s not just a one-month phenomenon, but something that’s been brewing for some time now. What catapulted agricultural prices to a different level was the speed and ferocity of the Russian-Ukrainian crisis which caught many players off guard. Both nations play a crucial role in agricultural markets; for example, the two nations together account for 33% of world wheat exports. Then with barley you are looking at an overall contribution of 25%, in the corn market Ukraine is the 4and leading exporter while Russia is the 7and largest exporter. Also consider that both countries, especially Russia, play a huge role in global fertilizer markets, with products like potash, ammonia, etc. This also weighed heavily in the rise in agricultural prices.

I would also like to reiterate that generally food prices increase slowly and steadily, which puts food producers in a good position to make price adjustments to keep pace with inflation. , but in recent weeks it has been anything but slow and steady. producers with very little leeway to make price adjustments. What I try to reiterate is that the “shock factor” in the current agricultural commodity price premium should not be underestimated, which can often prove to be short-lived rather than long-standing.

Obviously, the current crisis is not ideal, but as mentioned in the Lead-Lag report, we could see a resolution to this problem soon enough. This could quickly extinguish some of the recent largesse we have seen with agricultural prices, as we could see a potential downward boomerang.



There is an antecedent for something like this to happen before; think back to the end of 2015, when food inflation in the United States soared to 4% due to issues such as avian flu and drought conditions. Within a year, the situation had reversed, with supply and demand conditions normalizing. I’m not saying we see the exact situation playing out, but I do believe that the current steep price conditions in agricultural markets look unsustainable and investors would do well not to be myopic and get carried away by the euphoria in the short term. term.


Agricultural markets are currently on fire and I can see the temptation to jump on this bandwagon, but also note that the P/E valuations here aren’t too cheap with the ETF trading at 16x P/E . Conversely, if you are considering a more diversified natural resources option such as the SPDR S&P Global Natural Resources ETF (which gives you exposure not only to agricultural markets, but also to energy, metals and mining markets), you can acquire it at a 25% discount as it trades at just 12x P/E.

Anticipate crashes, corrections and bear markets

Sometimes you may not realize the biggest risks in your portfolio until it’s too late.

This is why it is important to pay attention to the right data, analysis and market information on a daily basis. Being a passive investor exposes you to unnecessary risk. By staying informed of key signals and indicators, you will take control of your financial future.

My award-winning market research gives you everything you need to know every day, so you can be ready to act when it matters most.

Click here to access and try the Lead-Lag report FREE for 14 days.

Best Payday Loans Online | Best Instant Payday Loans Online With Guaranteed Approval | Small Payday Loans Online No Credit Check


If you need a bad loan to pay off your debts, high interest loans can be frustrating. So let’s take a look at all the bad credit loan companies that offer guaranteed approval online.

Main loans for bad credit:

This list will provide you with an overview of our top picks for bad credit loan providers. Next, we’ll describe the features, pros, cons, and customer experience of each of these loan providers to give you a fair idea of ​​what you can expect from them.

1. MoneyMutual: Best Online Payday Loans

2. FundsJoy: Best Online Instant Payday Loans With Guaranteed Approval

3. BadCreditLoans: small online payday loans with no credit check

MoneyMutual is easily one of the most popular and reputable loan providers in the country. Part of its popularity is due to the fact that there is no credit check on borrowers.

The service is absolutely free where borrowers with bad credit could get in touch with genuine lenders and get loans regardless of their credit rating.

MoneyMutual is not involved in the lending or borrowing process. It is basically a platform for these two parties to lend and borrow money. It’s like Amazon or eBay but is for bad credit loans, instead of items.

MoneyMutual has been in the industry for over 10 years now and has been able to provide assistance to two million people across the United States with their financial needs.


See below the main features of MoneyMutual:

  • The platform through which potential borrowers can get in touch with potential lenders
  • Minimal credit checks are performed
  • Once funds are approved, customers must complete an online form
  • Allows loans up to $5,000 for short-term financing
  • Lenders review customer information and decide if they want to find their needs


  • Ranked #1 for bad credit loan companies.
  • Relatively simple for those with bad credit to get loans
  • The company is very reputable and experienced
  • Completing the online form only takes a few minutes
  • You can receive the money within 24 hours

The inconvenients

  • Not available in some states like New York

Client experience

Because of MoneyMutual’s excellent service, customers all agree that borrowing money is simple and communicating with online lenders has never been easier. Customers also claim that they could receive funds through this service faster than they could using other similar services.

MoneyMutual is undoubtedly the best loan without credit check with guaranteed approval online.

⇒Visit MoneyMutual official website for more information

#2. FundsJoy – Best Instant Payday Loans Online With Guaranteed Approval

FundsJoy is one of the fastest online loan providers in America that offers same day approval for bad credit loans.

Borrowers are approved on this platform within minutes of applying for the loan. Potential borrowers won’t find a faster company that offers fast loans with no credit check.


Here are the main features of FundsJoy:

  • A simple and efficient platform that connects lenders and borrowers in one place
  • Advanced technology on the site keeps your information secure and confidential
  • No hidden fees
  • Loan borrowers complete a quick online application to start the process


  • The fastest online lender in the industry with fast turnaround times
  • Funds are often granted with lower interest rates
  • Easy to use site with live chat
  • Large and medium size loans available

The inconvenients

  • Not a household name yet, so some consumers have never heard of the company

Client experience

FundsJoy is known for its more than satisfactory customer service and fast response rate. A company that prides itself on providing excellent customer service is just getting started. We see this business growing and gaining more market share in the coming years.

=> Visit the official FundsJoy website now!

Bad credit loans are a top choice for those with a bad credit history. This free service allows lenders to connect with borrowers and approve loans regardless of their credit score.

We repeat – borrowers can get money from lenders using this site without checking credit report.

Please note, however, that the company has no control over the lenders listed on its website. However, it gives you all the information you might need to help you determine if a particular lending partner meets your needs.


Here are the main features of loans for bad credit:

  • A platform that helps connect borrowers with lenders and provides both parties with adequate information about each other
  • The site has advanced encryption technology that protects your private information
  • The use of this service is completely free.
  • Borrowers only need to fill out an online form for lenders to decide if they want to engage with them


  • Free Service
  • Very easy for borrowers to find lenders
  • The credit requirements of the lenders on the site are very flexible
  • You can borrow amounts between $500 and $5,000
  • Allows you to evaluate and compare interest rates from different lenders

The inconvenients

  • Clients with poor credit scores receive lower loan amounts

Client experience

Borrowers seem happy with the ease with which a loan is approved using this site, as it allows for minimal credit checks. Moreover, the fact that people only take a few minutes to fill out the form on the site only contributes to the convenience of most people finding this service.

For some, BadCreditLoans is their first choice for no credit check loans with guaranteed approval online.

⇒Visit Bad Credit Loans Official Website for more information

Conclusion: Who is the number 1 loan lender for bad credit?

So which company offers the best no credit check loans with guaranteed approval online? Our top pick is MoneyMutual.

In summary, getting online loans for bad credit is not difficult. Even for those who have never received financing from these sources before, the procedures for obtaining loan financing for bad credit are simple to follow.

The websites we have provided here will help you get in touch with lenders immediately and ask them to grant you the funds you need. Our recommendation for you would be to try the services of MoneyMutual for their outstanding service and customer support. Additionally, online lenders give you access to several other financial services, such as credit cards and car loans. These sites help you compare interest rates from various lenders to choose the best one for you.

Plus, all the information you need is readily available, such as loan terms and conditions. These websites are safe and secure, so you can rest assured that your personal information will remain confidential. That’s it: choose a site and borrow the money you need, regardless of your credit rating.

If you need no credit check loans with guaranteed approval, MoneyMutual is your best bet.

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Big changes with in-app payments; A major credit card move by Apple?


Google is loosening its grip on in-app payments, starting with Spotify

Google has struck a landmark deal that will see Spotify offer its own in-app payment option alongside Google’s Android billing system, a move the search giant has resisted for years. While the change may seem minor, it could turn out to be a major crack in the fortresses that Google and Apple have built around their massive mobile app economies since they laid the groundwork over a decade ago. years. The effect on consumers like you may be very small at first: a segment of Android users who wish to subscribe to Spotify will be able to register more easily in its application and have a new choice of payment method. But the change, if adopted more widely, wouldn’t just give you more control over how you pay for transactions in mobile apps. It could also disrupt the dynamics that in some cases made your in-app purchases more expensive and in other cases removed the option of an in-app purchase altogether. [CNet]

Acquisition of Apple’s small fintech could proceed with a credit card takeover

Apple said it was buying British fintech Credit Kudos in what could be its first step in an attempt to take over the international consumer credit market. Credit Kudos is a London-based fintech for less than three years, specializing in credit checks. The company, which Apple paid $150 million for, could give Apple Card a path to the UK thanks to its business model that, well, thinks differently. Credit Kudos rivals Big Credit by performing credit checks on someone’s current finances rather than their financial history, enabling approval of creditworthy applicants who fall through the cracks of legacy companies like Experian, Equifax and Trans Union. Not only could Apple use the company’s technology to improve Apple Card‌’s credit checker‌ in the United States, but it could also serve as a springboard for Apple to establish itself as a supplier of financial products in Britain. . [The Motley Fool]

The 5 Best Travel Perks You Can Get With Your Credit Card

Travel is back, and so are some of the things we didn’t do missed during the pandemic: the mosh pit at the gate; snail-paced security lines and those irritating baggage fees. One escape from this inconvenience may lie in the travel credit card you use to book your trip. Cards with the richest perks come with hefty annual fees ($400 or more on the most expensive options), but with access to airline clubs and hotel upgrades, you might recoup that after a few trips. Here are some of the best ways to use your plastic on the road. [The Wall Street Journal]

Most medical debt will not appear on your credit report if it has been paid off

Three of the nation’s largest credit reporting agencies remove nearly 70% of medical debt from consumer credit reports. Effective July 1, Equifax, Experian and TransUnion will no longer include medical debts that have been subject to collections on consumer credit reports once they have been paid off. This will eliminate billions of dollars of debt on consumer records. Additionally, unpaid medical collection debt will not appear on credit reports in the first year, whereas the previous grace period was six months. This will give people more time to work with their insurers or healthcare providers to settle the bills. [CNN]

Newsom Offers $400 Debit Cards to Car Owners as Gas Spikes, But GOP Rejects ‘Band-Aid’

Vehicle owners in California would receive $400 debit cards from the state as part of a proposal unveiled by Governor Gavin Newsom on Wednesday in a bid to alleviate soaring gas prices. Under Newsom’s proposal, Californians would receive a $400 debit for each registered vehicle they own, with a limit of two. According to the governor’s office, the average motorist pays about $300 in gasoline excise taxes each year. The rebate program will cost a total of $9 billion. [Times of San Diego]

Robinhood Ups Fintech Competition With New Debit Card Launch

Robinhood has launched a new debit card that would enable reserve currency investing as it seeks to expand beyond commerce and into more consumer finance verticals, intensifying competition with fintech giants Chime and PayPal. With the new payment card, users could choose to round their currency to the nearest dollar and invest it in assets of their choice. The company, known as a pioneer in commission-free trading, would also reward users of this feature with a weekly bonus. The card is offered by Robinhood Money, a new affiliate of the online brokerage. [Reuters]

This rewards card offers 5% rewards on climate-friendly spending

There’s a new card that rewards cardholders for their climate-friendly spending. If you’re trying to reduce your carbon footprint, this may be a good rewards card option to consider. When you use the Visa FutureCard to make climate-friendly purchases, you get 5% back in rewards. Other purchases made with your card will earn you 1% rewards. Purchases of trains, buses, subways, metros, light rail and commuter trains; online marketplaces for thrift stores and second-hand clothes; charging of electric vehicles; bicycle shops; self-service electric scooters, mopeds and bicycles; plant-based meat, dairy and egg products. It should be noted that rewards earned at a rate greater than 1% are capped at $25,000 in spending per calendar year. [The Motley Fool]

Bank of America offers new credit card with digital resources for small businesses

Bank of America announced new secure credit options to help small businesses, including a credit card and line of credit, as well as new digital resources. The bank has launched its Business Advantage Unlimited Cash Rewards Secured Credit Card, Business Advantage Secured Line of Credit and Start a Business Center, its latest products and resources for entrepreneurs looking to start a small business or grow the business history. credit from their business. The new credit card has no annual fee, and some of its benefits include a customer-determined line of credit of $1,000 to $10,000; 1.5% cash back on all purchases, no cap on annual rewards and eligibility for preferred business rewards. The products are all free to join or participate. [GO Banking Rates]

United Club Infinite card offers 120,000 bonus miles for a limited time

One of the best airline credit cards has just increased the value of its sign-up bonus by 50%. The United Club Infinite card now comes with 120,000 bonus miles after spending $6,000 on purchases within the first 3 months of account opening. That’s 40,000 points more than his previous offer of 80,000 miles after spending $5,000 within three months of opening the account. Insider estimates that the value of united miles is 1.3 cents on average. This makes this new bonus worth $1,560, $520 more than the previous offer. [Business Insider]

Credit card churning: what bonuses can I earn multiple times?

Here’s something you might not know: it’s possible to earn the sign-up bonus on some rewards credit cards more than one time. Each card issuer comes up with their own rules to govern the process, but you can rack up many of the same bonuses over and over again if you give them enough time. Keep in mind that we’re not suggesting “card churning” (signing up for new offers just to earn the sign-up bonus). But if you’ve had a card once in the past and think you might be ready to try its benefits again, some cards will give you another chance. [The Simple Dollar]

Capital One scores again with Kohl’s private label credit cards

It takes a lot to maintain a private label credit card relationship these days. Bank margins are under more pressure than ever and trading partners are faced with a changing environment. In the past year alone, we’ve seen Walgreens enter integrated payments with a link to Synchrony, American Express bolstering its decades-long relationship with Delta Airlines, Barclaycard replacing Synchrony with Gap PLCC and a new branded card, and Citi bringing the Exxon Mobile Smart Card+ at a time when gas prices are at an all-time high. And don’t forget Capital One, which won the Walmart business from incumbent Synchrony, and now serves the largest US retailer. Today’s news is about another Capital One win with Kohl’s. [Payments Journal]

CFPB overdraft fee research refuted by CBA president: ‘unsupported by reality’

The president of the Consumer Bankers Association has accused the Consumer Financial Protection Bureau of making ‘unsubstantiated claims’ about overdraft fees after the federal agency released research into the extent to which banks relied on these costs over the past six years. CFPB research found revenue from overdraft fees and insufficient funds in 2019 was estimated at $15.47 billion, and the agency’s director said banks have become dependent on these fees “to fuel their profit model” rather than focusing on customer service. [Fox Business]

How do I deposit by credit card at UK online casinos?


With so many games available to online gamblers, it’s no wonder they are spoiled for choice. Not only that, but players can also deposit money into their real money accounts with a wide variety of banking methods. UK players have access to a wide range of deposit methods, from debit and credit cards to bank transfers and e-wallets.

Players have long used major credit cards to deposit and withdraw funds from their accounts. A good deal can get you a good credit limit and low interest rates, and they’re easy to get.

Around £1.5billion of purchases were made with cards in the UK alone last year, according to the latest statistics. The UK owed approximately £1.5 trillion to flexible friends in 2014. This figure is staggering but illustrates just how addicted this country has become to plastic. Therefore, many of the top rated casinos with credit cards at Non Stop Casino gladly accept Visa and Mastercard for deposits and withdrawals. In addition to being available, credit cards offer world-class security and protection against fraud.

You will not be able to make a direct deposit

According to the Gambling Commission, UK consumers will no longer be able to use their credit cards to gamble at gambling businesses. On April 14, 2020, the ban came into effect following an assessment of online gambling by the Commission and an assessment of the social responsibility measures behind slot machines. The same command was ported to the crypto. However, after depositing in eWallet first, you can transfer your deposit to the casino.

How to deposit using casinos using credit cards

  1. First you need to select the cashier.
  2. Once you visit the cashier, you will see that there is a Visa or Mastercard available on the menu.
  3. Select the method you prefer from the two and enter the amount of money you want to bet with.
  4. After that, just select “submit” and your funds will be processing.

Deposit via cash advances

In most cases there are fees associated with deposits. There are no fees associated with using a casino credit card; they waive all transaction fees. Players with credit cards treat deposits as cash advances. You will pay both cash advance fees and higher interest charges when you withdraw cash from an ATM using your credit card.

The same applies to credit card game transactions: if you use your MasterCard or VISA to finance a casino, you will pay a little more than if you made an online purchase.

Security Question

In May, there were 1.8 billion debit and credit card transactions in the UK by cardholders in GBP and overseas. This was 64.4% more than in May 2020 and 5.54% more than in May 2019. Therefore, security is certainly a major concern. The best security on the planet is found in credit cards since they are the world leaders in payments.

In order to guarantee transaction security, MasterCard and Visa use SSL (128-bit encryption). Additionally, credit card companies usually have insurance in case an online casino goes bankrupt. The money you loaded into your account via credit card could be refunded if this happens. Make sure you are aware that you need to enter an additional password when depositing (Verified by VISA or SecureCode for MasterCard).

This is an additional layer of security provided by the credit card company. You will be redirected to your issuer’s site to enter an additional unique code after making a deposit. Authenticating your credit card helps us ensure that your deposit is legitimate. You should also keep your credit card transactions consistent, as this is something money management experts need to keep in mind. Many credit card transactions may be considered fraud by some card providers. If you need to deposit $10 a day, deposit all the money at once to avoid problems.

Benefits of using credit cards

  • Funds and bonuses are accessible quickly and easily.
  • Most UK casinos accept this payment method.
  • Ensures the safety and security of transactions.

Disadvantages of using credit cards

  • There may be fees associated with cash advances.
  • The gambling industry faces higher interest rates.
  • There are times when withdrawals are not allowed.

But what if you are a non-UK player?

For the past two years, American players have been able to play legal slots in the state of New Jersey and the state of Delaware. The good news of new laws has not always trickled down to credit card issuers, even though these laws have been opened up in the United States.

Players weren’t able to deposit with VISA, Diners or MasterCard lately, but that has started to change. In most cases, American players make deposits free of charge, at least at the casino, but gambling is generally considered a “cash advance” by credit card companies. Therefore, there are additional fees and it is better to use digital wallets to avoid them.

Online slots are also considered cash advances in other countries that regulate online gambling. You may also have to pay an additional 3% fee on top of the deposit amount.

Frequently Asked Questions

What is the typical filing time?

You can deposit instantly using credit cards.

What is the typical withdrawal time?

You can withdraw your fund within 2-3 days.

Do credit card charges vary in the UK?

Yes. That is why it is advisable to check with your provider first.


And so, you have it. This is how you make a deposit at an online casino using a UK credit card Make sure you read all terms and conditions carefully each time.

Workers trade staggering amounts of data for ‘payday loans’


Argyle CEO Shmulik Fishman said the company can advise lenders on factors such as consistency of work and upward trajectory. “Does your job title move up every six months? These are signs of a good worker and one you might want to take another look at,” he says.

Reputation markers, however, may reflect bias. Shannon Liss-Riordan, a lawyer who is suing Uber over its allegedly racist customer star rating system, recently interviewed the drivers she represents. Of more than 4,000 respondents, 17.4% of white drivers said they were turned off due to a poor rating, compared to 24.6% of Asian drivers, 24.1% of black drivers and 24.9% of those who marked their race as “Other”. Only 16.9% of Latinx drivers said yes, but the actual number is likely higher because several drivers identified themselves as races such as Hispanic under “Other”. “I find it shocking that customer service data is used for other purposes that may affect drivers’ livelihoods, including access to loans or other benefits,” Liss-Riordan said. “This is a very dangerous precedent.”

Asked about the risk of perpetuating prejudice, Fishman said: “We are not in the business of discrimination. And neither are we, very important, in the business of creating criteria for the choices of approval or rejection.

Granted, not all payroll data companies focus so heavily on reputation data. “We don’t do that,” says Kirill Klokov, CEO of Truv. “I just don’t find it helpful, when applying for a loan, to know your star rating on Uber. The primary use case is that you should be able to prove that in the absence of a FICO score [for an immigrant] like me, I’m actually a person who will repay the loan to you. Or I actually worked at a company I claim to have worked for.

While consumers must consent to sharing their data, if they later change their minds, they may lose access to a product and still have their data passed on. And some workers struggling financially may feel like they have little choice. Michael Gray, a pest control specialist from Iowa, regularly uses a cash advance app called Earnin for advances of up to $550. He agreed to have his GPS location monitored by Earnin to confirm he had gone to work. (Earnin doesn’t use payroll data.) Though he found it intrusive, he complied. “They kind of had you by the balls when they’re dealing with your money and trying to get by.”

Despite borrowers’ difficult relationship with payday advance products, the convenience can be hard to resist. “If I need $100 for a bill or my groceries or whatever, it’s right there,” Gray says. “It’s fast. It’s a few clicks. So it was quite effective in keeping me in their ecosystem. He adds, ‘I really want to get out.’

What consumer and labor advocates all seem to agree on is that the proliferation of these financial products is a symptom of a deeper problem: insufficient compensation. Access to employer-sponsored earned wages “essentially allows you to pay your workers as little as possible because you may be supporting poor employment practices,” says David Seligman, executive director of Towards Justice, a law firm non-profit that represents workers.

“What we need most are higher wages, better tax programs, more support for low-income families and a child tax credit,” Levy says. “But other than that, the reality is that we have a lot of people living paycheck to paycheck. They will sometimes need credit to make ends meet.

More Great WIRED Stories

CA Bill Advocates Trigger Anti-Consumer Credit Loophole / Public News Service


A California legislature bill to regulate credit repair organizations worries advocates because it triggers a federal loophole allowing debt collectors to ignore correspondence on behalf of consumers.

Under Assembly Bill 2424, state credit repair organizations would be required to identify themselves in correspondence with debt collectors when trying to help people with reporting errors. credit or other problems.

Eric Kamerath, legal counsel for the Lexington Law Firm, which helps people with their credit reports, said that because federal law overrides California regulations when they conflict, debt collectors can ignore letters they receive lawyers.

“Under existing federal law, if Assembly Bill 2424 were passed, consumer correspondence identifying any third-party assistance, even from a non-profit organization, could be disregarded,” Kamerath explained. .

The Fair Credit Reporting Act loophole allows debt collectors, vendors and credit reporting agencies to disregard, without explanation, any letter sent on behalf of a consumer by a third party.

At the federal level, Rep. Maxine Waters, D-Calif., who chairs the House Financial Services Committee, called for an overhaul of the U.S. credit reporting system.

Andre Chapple, CEO of the African American Empowerment Coalition in Los Angeles, which helps communities correct mistakes on credit reports, as well as free financial workshops twice a week for 150 to 200 people, said the Federal loophole can have long term effects if people are unable to get help to repair their credit.

“We don’t tell people they can’t hire a plumber,” Chapple remarked. “We allow people from all sectors to use an expert if they wish, because it does not take away the right to do it themselves, but it does give them the opportunity to do it with someone who does. actually does it every day and has the expertise to do it.”

The bill will be the subject of a hearing before the Banking and Finance Committee of the Assembly next Monday.

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SoftIron Establishes Presence in Singapore as Part of Strategic Growth Plan | News

LONDONand SINGAPORE, March 22, 2022 /PRNewswire-PRWeb/ — SoftIron Ltd., the leader in purpose-built, performance-optimized data center solutions, today announced the formation of SoftIron Singapore Pte Ltd, an additional wholly-owned subsidiary of SoftIron Limited. , and the creation of a dedicated corporate facility located in Singapore town. SoftIron’s brand new office, located in the Central Business District (CBD) of Singapore will enable SoftIron to provide support to its regional customers in a high growth region for the company. The new facility will also serve as an anchor as the company plans to launch a dedicated supply chain tower to support its globally distributed manufacturing operations.

Singapore has become a lightning rod for SoftIron’s customer growth and as a globally distributed and locally integrated company, it is in our interest to engage in this region which can be leveraged as part of our company’s overall growth strategy,” said Jason Van der Schyff, Chief Operating Officer of SoftIron. “A significant portion of our customers have operations in the ASEAN territory, one of the fastest growing regions in the world for data infrastructure. The immediate need is to provide regional support to our customer base This will include a solution with the architects, technical sales and product development roles being sourced locally. Singapore provides SoftIron with an ideal location to establish our supply chain tower to support our existing and future manufacturing facilities – especially as we add critical mass with new facilities coming online. We look forward to using Singapore develop an asymmetric advantage in the countries where we engage.

Singapore has quickly become a point of strategic importance for SoftIron, with a growing number of our customers located there, as well as the technology leadership occurring in the region as ASEAN countries move towards digital transformation “, said Phil Straw, CEO of SoftIron. “We are excited about the benefits of having a Singapore presence provides SoftIron and we look forward to leveraging Singapore for the skills and supply chains needed to promote long-term sovereign resilience Singapore and surrounding areas where SoftIron operates. As ASEAN countries continue down the path of Industry 4.0 leadership, SoftIron will be there to help build transparency and resilience in how IT products are developed and produced. »

SoftIron operates from a number of geographically dispersed facilities, employing a primarily remote workforce to serve its global customer base. SoftIron currently operates through the UK, The United States of America, Germanythe Czech Republic, Australiaand New Zealand. SoftIron Limited, established in 2012, the parent company of the group is headquartered in London.

About SoftIron®

SoftIron® is the global leader in task-specific appliances for scale-out data center solutions. Their purpose-built premium hardware is designed, developed and manufactured in-house. They are the only manufacturer to offer verifiable provenance throughout the product lifecycle. SoftIron’s HyperDrive® software-defined enterprise storage portfolio operates at wire-speed and is custom-built to optimize Ceph. SoftIron simplifies the deployment of open source-based architectures by delivering an enterprise-class user experience but without software and hardware lock-in. For more information, visit http://www.SoftIron.com.

Media inquiries:

Isaac Lopez

OmniScale Media


[email protected]

Media Contact

Camaryn Berry, SoftIron, 1 6508876676, [email protected]



Consumer Alert: How a Credit Bureau Ruling Could Improve Your Credit Score by 100 Points


I know a thing or two about medical debt. I had cancer four times. And I’m not the only one who worked for years to pay off medical debt. According to the Consumer Finance Protection Bureau, 43 million Americans owe a collective medical debt of $88 billion.

“I could definitely see someone with otherwise strong credit lose 100 points or more just because of medical recovery,” said Ted Rossman, senior industry analyst for Bankrate.com.

And that can be a game changer. Let’s say you have a good credit rating. InvestopediaThe auto loan calculator says the range for a good score is 661 to 780. If you were to buy a $40,000 car with $8,000, your interest rate would be 4.21%. Your monthly payments would be just over $592.37. And the calculator says your total interest over the life of the loan would be $3,541.97.

But a medical bill sent to collections can drop your score by 100 points, pushing your monthly payments up to $635.75, and the total interest paid would be $6,145.25.

“I think it could save a lot of people a lot of money, because a better credit score means you get better interest rates and you qualify for more loans and lines of credit,” he said. said Rossman. “It really is one of the most important numbers in our financial lives.”

Even if your medical bill has gone to collections, if you pay it, under the new rules that come into effect July 1, it won’t affect your credit score.

Rossman points out that not only are paid medical debts erased from your report, but also that medical debts won’t be reported to credit agencies until after a year of being sent to collections.

It could be life changing. So now when you get better physically, you can also come out of it financially healthy.
So you might be wondering why only medical debt disappears? This is because creditors have found that medical debt is not a good predictor of whether you pay your bills on time. For example, if you have a serious car accident and have accumulated a mountain of medical debt, this does not predict whether you will pay your credit cards on time.

If you have medical debt, here’s Deanna’s to-do list:

  • Two Medical Bill Reporting Changes Go Into July
    • Check your credit report in August.
    • If you paid a medical debt on your report or if it hasn’t been a year since the medical debt was collected, dispute that debt with all three credit reporting agencies.

  • When you receive a medical bill, ALWAYS ask for an itemized statement. Errors in hospital billing are not uncommon.
  • Try to negotiate it.
  • Ask for an interest-free payment plan.
  • NEVER use a credit card to pay off medical debt. The medical facility will usually offer a better payment option than using a high interest rate credit card. If the establishment declines a payment option, ship it for a low-interest personal loan. The bank rate, LendingTree and Forbes all have tips and comparison options.
  • And check your credit report regularly. Annual credit report allows free weekly reports until the end of the year. Starting in 2023, medical debts under $500 will no longer be reported at all.

UK’s Creditspring launches credit creation tool


UK consumer credit provider Creditspring has launched ‘Step’, a credit enhancement product designed for people with limited or no credit history.

“Step is giving more people the opportunity to build credit responsibly with a fixed-fee financing subscription – eliminating the risk of spiraling debt,” the London-based company said in a press release on Monday 21 March.

“To reduce consumer reliance on loans, Creditspring’s goal is to remove financial barriers, simplify an industry that many consumers find complex and confusing, and give people the tools and guidance they need. need to build credit, understand their finances and make informed decisions,” said Creditspring.

Creditspring said consumers can sign up for free and access services like Step and its Stability Hub, which is an education and support resource designed to help consumers achieve financial stability before taking out loans or mortgages. lines of credit.

The hub also allows members to receive monthly financial health checks and personalized support to manage and save money, and access low-interest loans.

Step is one of several recently launched consumer credit products designed for underserved consumers.

Read more: TransUnion launches BNPL credit tool

Last month, TransUnion launched a new suite of solutions designed to help the 100 million people who use Buy Now, Pay Later (BNPL) services.

“Including point-of-sale loans, including BNPL, in credit reports and other risk management tools can help tens of millions of consumers access more credit opportunities and potentially get better loan terms,” ​​said Liz Pagel, senior vice president and consumer. Head of Lending Operations at TransUnion.

Pagel said the credit bureau has spent three years working with BNPL lenders to find a solution that won’t penalize consumers for frequent use of BNPL.

This launch follows last year’s expanded partnership between TransUnion and the BNPL Sezzle platform to allow users to establish and build credit based on their Sezzle repayment history.

The partnership allowed Sezzle users eligible for Sezzle Up to have their repayment histories sent to TransUnion, helping them improve their financial situation.



On:Fifty-seven percent of consumers who used advanced identity verification methods such as voice recognition when contacting customer service say they would do it again. The Consumer Authentication Experiences report surveyed nearly 3,800 US consumers to find out how delivering innovative verification experiences helps businesses deliver superior customer service across all channels.

Rivian is one of the few pure electric vehicle manufacturers to have outsourced its electric motors

Pure electric vehicle companies have adopted many strategies to stand out from the competition. Tesla manufactures many of its components in-house, including the electric motors for its vehicles. Even Lucid Motors, which continues to ramp up production of the Air, proudly pointed out that its electric motors, which were also developed in-house, are incredibly compact and efficient. Rivian, on the other hand, seems to have adopted a different strategy.

Information services provider IHS Markit has taken a look at the motor sourcing strategies of several automakers, particularly in the context of the emergence of the electric vehicle sector. According to the company’s analysis, it appears that established electric vehicle manufacturers such as Tesla appear to view electric drive units as critical to their efficiency and as a potential source of competitive advantage. An example of this could be found in the new electric motors in the Tesla Model S and Model X Plaid, which feature carbon sleeved rotors.

Credit: IHS Markit

It was technology that was developed and eventually produced in-house, and it gives the Model S and Model X Plaid some notable advantages over their equally priced rivals. Lucid is the same way, with the company taking special care to ensure that its engines are as compact and efficient as possible. This is a strategy not shared by some seasoned automakers like General Motors, some of which have chosen to source electric motors from Tier 1 suppliers like Bosch.

Rivian could be seen as something of an outlier in IHS Markit’s analysis. Indeed, the electric truck manufacturer initially completely outsourced its electric drive units, which allowed the company to accelerate its product launches. However, it’s worth noting that even Rivian is also developing its own electric motors, meaning the company will likely adopt an in-house strategy in the future as well, similar to rivals like Tesla and Lucid. IHS Markit, for its part, noted that insourcing is likely to be more prevalent over the next decade.

“We expect a steady move toward insourcing electric motors over the next decade, driven in part by US OEMs. However, there will be many situations where outsourcing will continue to make sense. For example, Rivian initially outsourced its electric drive entirely, which helped accelerate the launch of its first product, while later developing its own. BorgWarner’s recently announced acquisition of engine supplier Santroll shows that Tier 1s are still experiencing significant volume growth in this area. Automakers may never fully outsource electric drives. As mature as the internal combustion engine is, this industry is 90% internal, while 10% of engines are externally sourced,” noted IHS Markit.

Rivian may still be ramping up vehicle deliveries, but the company has already shown signs that it would be ready to adapt to the market. Just recently, and as nickel prices soared amid the ongoing war in Ukraine, CEO RJ Scaringe said during the company’s fourth quarter and full year 2021 earnings call that Rivian is reportedly using nickel-free lithium-iron-phosphate (LFP) cells for its Amazon delivery. vans. That’s pretty impressive from the company, given that its Amazon delivery vans will likely make up a substantial portion of Rivian’s output in the near future.

Feel free to contact us with new tips. Just send a message to Simon@teslarati.com to give us a head start.

Rivian is one of the few pure electric vehicle manufacturers to have outsourced its electric motors

Payday Loans Jamaica Nyc. The online payday loan has the following advantages


<a class="wpil_keyword_link " href="/11-alternatives-to-cut-down-on-the-cost-of-cash-advances/" title="Payday Loans" data-wpil-keyword-link="linked">Payday Loans</a> Jamaica Nyc. The online payday loan has the following advantages

Payday money is a quick method to get money for having a good limited time compared to reviewing your credit history. People are stalking you every day to pay their types of expenses in a timely manner. Jamaicans for New York are no different. But the majority of payday loans take away to solve their unique little problems. Inside Nyc zero expense income credit reporting solutions are available for your consumers. Funding is provided until after that payday and is expected to become secure due to financial interest.

Payday loans uncovered so that you are able to a debtor and either used directly on the last credit party or used the online business towards the business. The best way to contribute resources is to use the characteristics of Internet site organizations. People who acquire a loan for Jamaica Nyc through the website must complete an online form.

are the laws on payday loans?

Credit folks bring the most helpful terms for the borrower, which is exactly why simple payday cash features are common. They help residents of Jamaica to resolve current financial difficulties very quickly. In the event of a tragedy, the customer will need a loan online as well as overnight. After all credit rating agencies really operate 24/7 now.

The rules outside of Jamaica, New York allow you to take and you can borrow from the payday bank loan. Particular legislation and your standards must be adopted, which is exactly why it is more useful to examine the data more carefully before applying for your own New York payday loans. The possibility of credit is only for a few days and you can’t sum anything that only one is able to use is basically $500.

A debtor normally discovers individual financing. The number of possible payday advances to discover inside Jamaica, Ny is five. This time period between acquiring your payday loans is 90 days.

The procedure for your online payday loan Acquire in Jamaica, new york

  • Study the details regarding your financial institutions in Jamaica in New York. Understand private finance views and contact with people.
  • Seeing a most abundant credit business in the best ailments for your family members.
  • Go to the credit agency’s website for payday funds.
  • Complete the application mode and you can expect positive feedback using the lending company.
  • Don’t forget to choose the amount you want to receive on the website towards the company.
  • Has actually funded his bank card.

All points provided to the mortgage organization must be a benefit. All data provided to lenders must be recent. Providing reliable data makes getting a home loan easy and effortless.

Top Issues For Payday Loans To Find Over Jamaica, Nyc

Now you don’t need to visit the physical standard bank to get payday advances. With your computer, laptop, or any cell phone that has a reliable internet connection, it usually helps you find a payday loan quickly. All means must select a reliable internet credit rating party, submit the application form and hold until the funds are disbursed to the bank account.

To find a payday loan in Jamaica, New York, you must meet the compatible requirements:

  • The age of a debtor should be 18 and above for payday loans. According to American law, those who have not gone on strike for 18 years should never have a salary advance.
  • Someone’s works. You really need to have a stable currency having borrowed in Jamaica inside New York.
  • You definitely need to promote their financial membership.

Never worry if you had a horrible loan from the bank see above. Their bad credit records is not a hindrance in finding a good payday loan in Jamaica, ny.

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How money has changed throughout history


In one form or another, money has existed as purchasing power unit For thousands of years. Used to obtain goods or services, materials and formats have evolved over time, but have always been a representation of value by a particular society. From barter to livestock to physical and digital currency, there has been a continuous evolution of what people have used for payment. Let’s look at five ways money has changed throughout history.


(Credit: Klaus Vartzbed/Shutterstock)

Cowries contain many qualities that have made them a perfect fit for currency. They were durable, easily identified, portable, and almost impossible to counterfeit – and their uniform size made them easy to count or weigh. With the expansion of use by Europeans, shells became the primary currency used in the slave trade and were commonly used along West African trade routes. Their use reached its peak in the 18th century and remained a source of payment and a reflection of status well into the 20th century. Cowries come from a mollusc that has been abundant in the Maldives Islands, where they were collected from the large leaves of coconut palms that had been placed in shallow lagoons. The cowries ate the debris above the leaves. When enough cowries were collected, the leaves were pulled out of the water and left on the beach, where the cowries died in the sun. They would be buried in the sand and after the flesh had decayed, the empty shells would be left for use.


(Credit: Bukhta Yurii/Shutterstock)

The first time metal coins were recognizably used as currency was between 550 and 600 BCE in Lydia – an ancient kingdom located in modern Turkey. The Lydians had previously mined a mixture of metals called electrum of the Pactolus River for use in coins. Corn King Croesus advanced coins as currency to the next level. He was responsible for creating the first pure gold and pure silver coins through a process that separated gold and silver, present in electrum. All coins had images of a lion on them, and the size of the image connoted value. More valuable coins had a whole lion, while those of lesser value only had a lion’s paw. Croesus’ method of standardizing coins increased their circulation and use, and the capital of Sardis became a hub of business.

Paper money

(Credit: ElenaR/Shutterstock)

The Chinese were responsible for the creation of paper money in the 7th century as a more efficient means of transacting, compared to coins. It wasn’t until the 1600s that paper money was used in Europe, starting with Sweden. By the late 1700s, paper money was in use across Europe. There were two forms of paper money: “bills”, which were converted into coins, and “drafts”, which were receipts for specific values ​​that were stored in accounts. The concept and use of paper money eventually made its way to the United States in 1690. It was first used in the Massachusetts Bay Colony, initially to fund military expeditions. In 1913, the Federal Reserve created a national banking system to meet the changing financial needs of the country. And in 1914, they issued the first federal note: a ten dollar bill.

Credit card

(Credit: Teerasak Ladnongkhun/Shutterstock)

The first general-purpose credit card was the Diners’ Club card in 1950, followed by American Express in 1958. These credit cards charged cardholders an annual fee, as well as monthly billing. The first national credit card was launched statewide by Bank of America in the late 1950s and later renamed Visa in 1976. An enterprising IBM engineer named Forrest Parry created the magnetic tape for use on credit cards, as a means of storing information and protecting security. Eventually, a PIN and chip became the norm in the mid-1990s. In just over 70 years, we’ve gone from the credit card as a new monetary concept to something ubiquitous. The average American has four credit cards each and owes $6,194.

Electronic/mobile payments

(Credit: DenPhotos/Shutterstock)

With the launch of Paypal in 1998, electronic/digital payments became possible at scale, transforming the way financial transactions could be conducted. From there, mobile payments evolved through the use of apps, including Apple Pay, Venmo, Google Pay, Samsung Pay, and Cash App. There is a variety of functions this can be accomplished through mobile payments, depending on the app. Some allow payment for goods or services, while others transfer bank funds. Sometimes called a digital wallet, these apps are a convenient method for making payments, as well as storing other financial information. Some digital wallets can organize and access your credit/debit cards, boarding passes, gift cards, loyalty cards, hotel reservations and concert tickets.

3 financial tips worth ignoring


Image source: Getty Images

You shouldn’t believe everything you hear about personal finance.

Key points

  • It is good to seek financial advice, but be aware of its source.
  • Following bad advice could hurt you financially rather than help you.
  • For example, if someone tells you that credit cards will lead to debt.

You may have many people in your life who are quick to overload you with financial advice. Or maybe you’re the type to browse financial blogs in hopes of improving your money management skills.

Either way, there’s a world of good financial advice out there, but there’s also some really bad advice you might come across. Here are three examples that you really should ignore.

1. Credit cards will put you in debt

Credit card could get into debt – if you don’t use them carefully. But if you watch your spending, credit cards could actually do a number of good things for your finances.

First, credit cards usually offer rewards or cash back for the purchases you make. It could earn you hundreds of dollars every year, especially if you’re able to capitalize on sign-up bonuses without spending more than you normally would.

Plus, credit cards can help you build credit if you pay your bills on time and in full on a consistent basis. And the higher your credit score, the easier it becomes to borrow money affordably when you need to do things like buy a house or take out a car loan.

2. The bank is the safest place for your money

Any money you have allocated to your emergency fund should be deposited in a savings account. But that doesn’t mean you have to keep all of your money in the bank.

The advantage of bank accounts is that your primary deposits are protected (up to $250,000 per depositor, provided your bank is FDIC insured). But you won’t really get a chance to grow your money if you keep it entirely in the bank. Not only have interest rates on savings accounts and CDs been abysmal in recent years, but even in the best years they can pale in comparison to the returns you could get from investing the money you pocket for the future.

In fact, there’s a risk to keeping too much money in the bank: not growing your money in a way that will keep up with or outpace inflation. And that could leave you with insufficient savings when you retire.

That’s why you’re better off putting your non-emergency savings in a dedicated retirement plan, like an IRA or 401(k), or in a brokerage account, and investing it. If you go the old way and open an IRA or 401(k), you’ll also enjoy a host of tax breaks.

3. A house is always a good investment

A house can be a good investment, as property values ​​tend to increase over time. But that doesn’t mean it’s a good investment for you.

If you’re buying a home that needs a lot of repairs and maintenance over the years, it could limit your ability to save and invest elsewhere. And while home ownership can lead to financial stability, it’s more than possible to achieve that goal as a renter, too.

If you have the desire to own a home, know that it is not necessarily a bad financial choice. But don’t accept the idea that you’ll automatically get away with it financially by owning a home rather than renting it out.

Seeking financial advice could make you a smarter consumer and saver. But don’t accept these specific pointers, as they have the potential to lead you astray.

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Bach is back, for a festival in Scranton

Bach is back.

As in, the Arcadia Chorale’s 35th annual Bach Festival, after a two-year absence, is back in Scranton – and Music Director Matthew Rupcich is thrilled.

“I’m just writing an email to the orchestra,” he said when answering his phone earlier this week. “Sharing with them how fortunate and blessed we are at some place and time, regarding the pandemic, that we can perform without a mask and do it with confidence.”

After being canceled in 2020 and 2021, the Bach Festival offers three concerts this weekend, including an organ recital on Saturday afternoon, chamber music on Saturday evening, and choral singing on Sunday afternoon.

As the choir director, Rupcich knows that the singers worked diligently to prepare several treats for the audience.

“It’s breathtaking,” he said, speaking of “Beatus Vir,” a piece composer Claudio Monteverdi composed for a six-voice choir in 1630. Based on Psalm 112, “ it’s ethereal and quite beautiful,” he said, noting “The final ‘amen’ is one of the most glorious final ‘amen’s I’ve ever known.”

Johann Sebastian Bach himself will be represented in the choral concert by ‘Jesu Meine Freude’, which is one of the six motets he wrote when he arrived at St. Thomas Church in Leipzig.

“It’s rarely done because it’s very hard to sing,” Rupcich said. “The choir is doing brilliantly, and they almost have to be vocal acrobats.”

“People see this work as very dramatic and moving. It depicts Jesus Christ freeing man from sin and death,” the musical director added, noting that it contains 11 movements, with “the even-numbered movements coming from Scripture and the odd-numbered movements coming from Bach’s librettist. Johann Frank”.

The last piece, by George Frideric Handel, is Dettingen Te Deum, which Rupcich described as “a very festive work, in almost militaristic fashion, very energetic and very uplifting”.

Handel was court composer at the Chapel Royal in London, where King George II commissioned the work after he, as the last reigning British monarch to lead troops in battle, helped Austrian forces defeat the French at Dettingen, in Bavaria.

“It features three mezzo soloists — they have a few short solos — and Moses Andrade, our bass soloist, has a substantial part of it,” Rupcich said.

The Bach Festival opens at 4 p.m. on Saturday, March 19 with an organ recital by Mark Laubach, who will perform works by Bach and Handel and other composers at Elm Park Methodist Church, 712 Linden St., Scranton .

The chamber music concert, featuring members of the Arcadia Festival Orchestra, will perform at 7:30 p.m. on Saturday, March 19 at Covenant Presbyterian Church, 550 Madison Ave., Scranton.

The Arcadia Chorale concert, scheduled for Sunday, March 20 at 3 p.m., will also take place at the Covenant Presbyterian Church.

Admission to the organ recital is free for all. Tickets for the Chamber Music Concert and Arcadia Chorale Concert are free for students, $10 for seniors, and $15 for general admission.

Tickets are available at arcadiachorale.org or by calling 570-871-8350.

Do you have bad credit? There are still credit card options for you


Image source: Getty Images

Don’t give up a credit card just because your credit isn’t good.

Key points

  • Bad credit can affect your ability to borrow.
  • It is still possible to get a credit card if you have bad credit.
  • Secured cards are a good option for those with bad credit.

Having bad credit can be very frustrating because you can find yourself in a situation where it’s hard to turn things around.

Most companies you want to do business with – from utility companies to mortgage lenders – will check your credit before agreeing to let you become a customer. And if your credit rating is low, they may not allow you to borrow. The big problem with this is that if no one gives you new credit, you will have little opportunity to show that you can be responsible for it. And demonstrating your financial responsibility is key to boosting your credit score.

The good news, however, is that you can usually get a credit card even if your score is low. And if you use this card responsibly, you can improve your score over time and open the door to affordable loans and access to utilities with lower deposits.

How can you get a card even if your credit score is lower than you’d like – and lower than most card issuers like to see?

The best way to get a credit card for borrowers with a low credit score

If you’re hoping to get a credit card with a low credit score and you’re struggling to do so, secured cards might be your best bet.

Secured cards work a little differently than traditional credit cards. With most cards, you apply and the card issuer gives you a line of credit based on how confident they are in you to repay what you borrowed. The only money-back guarantee they have is your word that you’ll cover at least the minimum owed each month – and it can be difficult for them to take effective legal action to collect what’s owed if you choose not to. pay as promised.

With secured cards, however, creditors eliminate the risk of non-payment. This is because you need to secure the card with a guarantee. This usually means making a deposit with the card issuer which is held in a special account. The amount you deposit is equal to your credit limit. So, if you opt for a secured card with a limit of $500, you will deposit $500 and have access to a line of credit of $500.

Secured credit cards work a lot like regular credit cards

Besides the fact that you have to make a deposit, secured cards work the same way as regular credit cards. You are authorized to charge up to your assigned credit limit and must make payments monthly. As you pay down your balance, you free up your credit and can charge again. And your payments are reported to credit reporting agencies so you can build a positive payment history. Depending on the secured card, you may even be able to earn rewards for the charges you make.

Since there is no risk to creditors since they could seize your deposited funds with a secured card, you can usually obtain this type of credit no matter how bad your rating is, even if you have recently filed for bankruptcy. If you’re confident you’ll avoid building up a large balance or missing payments, you should consider getting a secured card as soon as possible so you can start using it to improve your credit score and open the door to new borrowing opportunities. .

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I’m a Former Car Salesman, and My Auto Loan Tips Could Save You Thousands of Dollars on Your Auto Finance


With the rapid increase in gas prices, buying a car can add to existing stress.

Knowing the details of car financing can help you save thousands of dollars.


It is important to do your research first before going to a car dealership and signing any papers

Former car salesman turned finance expert David Weliver has shared his tips and tricks to help others save money on their new rides on his Silver under 30 website.

Try to get a short repayment term

The dealership will always try to encourage you to pay less each month, but that’s so they can extend the term of your car loan and charge you more interest.

Banks also often charge higher interest rates for longer loans, Weliver says.

So even if it looks like you’re getting a lot, you’ll end up owing a lot more to the bank.

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Higher payments over a shorter period will mean you end up paying much less in the long run.

And the sooner you pay off your car, the sooner you’ll own it.

This means that in the worst case scenario, if your car is damaged beyond repair, you don’t have to pay for a vehicle that is already scrap.

Weliver also suggests setting up automatic payments on your loan, so you don’t miss a payment and get stung by fees.

Understanding Your Credit Score

A credit score is an essential factor when it comes to car financing.

Car dealerships sometimes advertise great interest rates for their automobiles, but often fail to include one important factor: the amazing rates are only available to those with exceptional credit ratings.

Dealerships are still likely to give you a car loan despite having bad credit, but you’ll often have to pay much higher interest and lose massively in the long run.

Weliver says if your credit score is on the lower end of the spectrum, it’s important to research many dealerships and find the best rate offered.

Funding submissions

If your credit score is excellent, it’s more likely that you’re already receiving the best financing rates directly from the dealership.

A high credit score is sought after on multiple platforms, and the dealers themselves would obviously want to rip off your high credit support.

But if your credit rating is bad, dealers are more likely to take advantage of you.

In this case, it is important to do your research and obtain financing quotes before entering the dealership.

20% rule

Another way to drastically reduce your interest payments is to minimize the amount you actually borrow.

Weliver recommends putting at least 20% down on your new car.

He says that if putting 20% ​​down on a car is heavy, it means you probably can’t afford the monthly fees or interest in the first place.

Use cash for fees

The dealership won’t let you walk away with just the price of the car.

Buying a car comes with additional costs, including sales tax, dealer fees, extended warranties, any optional extras you select, and more.

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To minimize scams, Weliver suggests asking for an itemized bill and paying in cash.

By following these two steps, the dealership will have a harder time hiding all unnecessary charges from you while saving you from paying additional charges that you don’t actually need or want.

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Latest Defendant in International Credit Card Scheme with 71 Front Companies and Moscow Connections Sentenced to Over 24 Years in Federal Prison | USAO-EDCA


Aleksandr Maslov, 40, of Sacramento, was sentenced today by U.S. District Judge John A. Mendez to 24 years and four months in prison for his involvement in an international credit card fraud scheme, the U.S. Attorney Phillip A. Talbert.

According to evidence presented in the trials of his co-defendants and in court documents, between October 5, 2011 and approximately March 5, 2014, Maslov conspired with Rouslan Kirilyuk, 43, of Los Angeles; Mihran Melkonyan, 41, of Sacramento; Rouslan Akhmerov, 46, of Studio City; and others in a massive credit card billing scheme that involved working with Moscow-based hackers to create approximately 71 fraudulent online companies established for the sole purpose of fraudulently charging approximately 119,000 stolen credit card numbers . In total, members of the scheme charged stolen credit card numbers for more than $3.4 million in unauthorized charges.

To create the fraudulent businesses, members of the scheme obtained more than 200 stolen school reports from the San Juan Unified School District in Sacramento. These report cards included the students’ personal identifying information, including names and social security numbers. Using this personal identity information, Kirilyuk and his associates created fraudulent companies with names designed to look like real companies, such as “CVS Store”, “Walt Mart”, and “Chevran”.

Working with at least one Moscow-based hacker, Maslov and his conspirators used these fraudulent companies to charge stolen American Express credit card account numbers. To transfer the stolen money, they used fictitious bank accounts held in the names of individuals whose identities had been stolen and accounts in the names of former Russian J-1 student visa holders who had returned. in Russia after opening several bank accounts in California.

Conspiracy members also used numerous Los Angeles-area runners to withdraw money in the form of cash. The conspirators then sent some of the stolen money back to Moscow, using prepaid debit cards and hiding money inside mailed items. According to court documents, Maslov’s co-defendant, Kirilyuk, has a history of corporate cyber intrusion dating back to at least 2003.

Maslov, Kirilyuk and Melkonyan all fled to avoid prosecution. Kirilyuk was apprehended in Mexico and arrested by FBI agents after being airlifted to San Francisco. Melkonyan was apprehended in California after returning to the United States. Maslov was apprehended in Virginia.

This case was the product of an investigation by the Federal Bureau of Investigation, Sacramento Field Division with assistance from the FBI’s Los Angeles Field Division. Assistant U.S. Attorneys Michael D. Anderson and Heiko P. Coppola prosecuted the case.

During his trial on February 15, 2017, Melkonyan was found guilty of 24 counts of wire fraud and two counts of mail fraud in connection with the scheme. He was sentenced on January 4, 2019 to 19 years and two months in prison.

At trial on February 26, 2019, Kirilyuk was found guilty of 24 counts of wire fraud, one count of aggravated identity theft, and one count of failure to appear. He was sentenced on December 6, 2019 to 27 years in prison.

On December 15, 2014, Akhmerov pleaded guilty to one count of access device fraud for his participation in the scheme and was sentenced to jail.

Nurse pleads guilty to filing false tax returns | USAO-MDFL

Fort Myers, Fla. – U.S. Attorney Roger B. Handberg announces that Jennifer Hansen has pleaded guilty to three counts of filing false tax returns. Hansen faces a maximum sentence of three years in federal prison on each count.

According to the plea agreement, Hansen, a registered nurse, was employed by a medical examination company to assess people seeking life insurance policies. In this role, Hansen earned hundreds of thousands of dollars in income during the years 2016, 2017, and 2018, which she intentionally omitted from her federal tax returns. By his misrepresentations, Hansen caused a tax loss in the United States of $257,830.44. As part of its plea agreement, Hansen will return this amount in full to the United States.

During the investigation of Hansen’s tax crimes, investigators also learned that a significant portion of Hansen’s unreported income was earned illegitimately. In this regard, Hansen generated the illegitimate income by submitting false records to her employer claiming that she had examined a real patient, when in fact she had not. As part of his plea deal, Hansen will make full restitution to his former employer in the amount of more than $1,000,000.

This matter was investigated by the Internal Revenue Service – Criminal Investigation (IRS-CI) and the Federal Bureau of Investigation. The IRS-CI investigates those who willfully and intentionally violate their known legal obligation to file and pay their fair share of taxes. He is being prosecuted by Assistant United States Attorney Michael V. Leeman.

Do gas station credit cards help you save?


NASHVILLE, Tenn. (WTVF) – Gas prices continue to rise, making money even tighter for most households.

You may be considering getting a gas credit card to help with rising costs. There are many types of credit cards, and some can be beneficial.

However, some experts don’t think gas station credit cards are the best option for saving money.

Bankrate’s Ted Rossman said it’s better to have a general-purpose credit card with strong gas rewards than that card from a gas station.

He said those at gas stations often don’t have the most attractive rewards and you only get something like 5 or 10 cents per gallon. Rossman adds that with rising prices, the nickel or penny is less significant as a percentage.

According to Rossman, it’s easier to qualify for a gas station card, but it won’t pay out the same way. He says there are better ways to save.

“Almost every major brand has apps that save you five or 10 cents per gallon. What I like to do is stack that up. So if I use a card that gives back 3, 4, or 5 % on gas and stack it with an app that’s going to give me an extra 5 or 10 cents a gallon at that specific station. There’s two ways to save instead of just one,” Rossman said.

There are several reward credit cards that give you a percentage cash back on gas. Rossman said cards like Costco and Sam’s Club can be beneficial, but some stores will require you to pay for a membership.

Did you know that the interest rate on your home loan can vary depending on your credit rating?


While other factors generally don’t impact the loan’s interest rate over the term of the loan, a change in credit rating can also cause the interest rate on your home loan to differ during the term of the loan.

A healthy credit score is crucial not only when applying for a home loan, but also throughout the repayment period. Home loan interest rates are currently at their lowest, but can vary depending on gender, loan to value (LTV), and borrower credit rating.

While other factors generally do not impact the loan’s interest rate over the life of the loan (assuming the bank’s interest rate remains unchanged), a change in credit rating may result in an interest rate difference on your home loan during the period of the loan, as well.

Calculating your interest rate

The impact on credit rating generally varies from bank to bank. Each bank has its own defined range for the credit rating within which the interest rate varies. For example, if your credit score is above 800 and your home loan amount is below Rs 30 lakh, the bank may charge you 6.70% interest per annum, and if the amount is above Rs 1 crore, the same bank may charge you interest. of 7.50% per year.

Thus, the interest rate may vary depending on the home loan amount within a certain credit score range. Typically, the interest rate on home loans increases with a decline in credit rating, or vice versa. To know how the interest rate varies depending on the credit score range, see the table mentioned below:

Impact of a bad credit score on existing borrowers

A drop in your credit score when you have already taken out a home loan could increase interest rates. For example, suppose that when you took out the loan, your credit score was 800 and the interest rate you were offered was 6.7% per annum. Later, the credit score fell to 700 during the loan period, so the interest rate on your loan will increase to 7%, which is your new credit score range.

According to the Reserve Bank of India (RBI), “Banks are free to decide on the deviation from the external benchmark. However, the credit risk premium can only undergo a change when the borrower’s credit rating undergoes a substantial change, as agreed in the loan agreement.

Banks review the borrower’s credit score at least once a year and adjust the borrower’s interest rate accordingly. If the credit rating drops during the bank’s review, the interest rate applicable on the loan may increase, and if the rating increases, the interest rate may be revised to a lower level. Some banks may raise interest rates only if the borrower’s credit score drops by 50 basis points or more. The rule of thumb is to maintain a good credit rating before applying for a home loan and throughout the repayment period to avoid any increase in the interest rate.

(The author is CEO, Bankbazaar.com)

What to do if you’ve been scammed online – AMAC


Courtesy of Travelers Insurance

If you’ve been the victim of an online money scam, it can be embarrassing to admit it and scary to know what to do about it. However, being the victim of an online scam is all too common, with over 2.1 million people reporting fraud in the past year.1 Scammers exploit vulnerabilities and take advantage of good-natured victims. Seniors are particularly attractive targets for scammers, as many are generally financially secure, own homes, and have good credit.2 The keys to getting your dignity and your money back from an online scammer are knowing what to do when you get scammed and acting fast.

Who to contact if you have been scammed

Recovery starts with making the right contacts and knowing how to report a scammer. Here are the organizations to contact if you have been scammed:

  • The Federal Trade Commission (FTC)

Typically, the FTC will create a custom recovery plan for you to help you know what to do next. The FTC uses the information you provide in your report to build a case against online scammers, notice trends, and educate the public.3 Depending on the facts of your case, you may also choose to file a report with your local police department.4

  • Your financial institutions

It is important to report any fraudulent activity on your accounts to your financial institution as soon as possible so that they can attempt to reverse the transaction and recover your money. If you paid a scammer by credit card, your credit card company will usually allow you to dispute the charge. Bank transfers can be harder to cancel, but you should contact the bank transfer company and try to get your money back.

Place a fraud alert on your credit report by contacting the three major credit reporting agencies: Experian, Equifax or TransUnion. The one you usually contact will share the information with the other two.5 A fraud alert will make it more difficult to open a new credit account in your name. Also, review your credit report for items you are unfamiliar with and report them to the credit bureau as fraudulent.

4. A victim support group

Victims of financial crimes can often experience shame or a loss of self-confidence. It is important to understand that online scammers are usually sneaky and hard to spot. They are trained in the art of taking advantage of the innocent. Contact a victim support group to get the help you need to recover from this very upsetting incident. You can find support groups online, on social media, and in your community.

How to avoid future scams

Now that you know what to do after being scammed, there are some precautions you can take against future scams. Scammers are smart and tend to target vulnerable people. Learn more about how to avoid scams, especially when using your smartphone. Continue to monitor online scam news as new trends are recognized and reported by organizations like the FTC. Awareness can help you stay safe.

Protect yourself against future scams

Cybercrimes are widespread, but there is plenty of information on the internet about how they are perpetrated and how to avoid them. Do your homework: Educate yourself on cybercrime and ask your insurer if they review online scam reports and publish up-to-date information. Take advantage of the resources available to you to protect yourself against online scams.

This content is brought to you by travellers. AMAC members receive special discounts and competitive rates on home and auto insurance from Travelers.

To learn more about how you can save on home, renters and auto insurance, check out this special offer for AMAC members from Travelers or call 866-890-1786.


2 https://www.fbi.gov/scams-and-safety/common-scams-and-crimes/elder-fraud

3 https://www.fbi.gov/scams-and-safety/common-scams-and-crimes/elder-fraud

4 https://www.identitytheft.gov/#/Steps

5 https://www.equifax.com/personal/education/identity-theft/7-things-to-know-about-fraud-alerts/

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Payday loans and overspending got me £11,000 in debt


If you’re struggling to make ends meet, you might think payday loans and credit cards are your only option – but it has landed Miranda Malanga £11,000 in debt.

Miranda, 34, who lives in Oxfordshire and is now a security manager at a pharmaceutical company, found herself in a ‘vicious circle’ of taking out payday loans to pay her bills when she was home ‘university.


Miranda tackled her £11,000 debt in just over a year after taking out payday loans and overspending
She made a big spreadsheet to track what she owed and to whom.


She made a big spreadsheet to track what she owed and to whom.

Payday loans are short-term loans, usually for small amounts of money, given to people who are struggling to grow their money until the next payment – but they usually come with high interest rates.

Miranda’s reliance on these loans, as well as increasing credit card debt from spending too much money at her favorite shops, meant she was owed £11,000 by the time she finished school.

Miranda fell into the common trap of taking out new loans to cover what she owed elsewhere.

In all, she took out six payday loans, racking up £3,200 in debt.

I saved £150,000 by halving our interest rate with a simple mortgage switch
I didn't even know my partner had a credit card - or £7,000 in debt

She also owed £2,500 worth of store cards – a type of credit card you can only use in one store.

On top of that her credit card debt was over £3,200, she had £1,700 in her overdraft and she owed £690 on her phone bill.

“Being in debt made me feel defeated,” Miranda said.

“I wanted to be out of my situation as quickly as possible.

“I missed some payments on my payday loans, and I was constantly being chased with phone calls, letters and emails.

“Some of the companies I took loans from sold my debt to a debt collection agency – it was really scary to be sued by them.”

In 2014, Miranda decided to “stop putting my head in the sand” and start paying off her debt.

In just 18 months, she had cleared everything and started accumulating savings, eventually even buying a house. She explains how she did it.

snowball method

Miranda sat down and rummaged through her finances to figure out exactly how much she owed and to whom.

“I wrote down each company I owed money to and calculated how much I could afford to pay each month to clear each debt,” she said.

“I called each lender, was honest and shared details of all my debts to see if I could put together a more affordable repayment plan.”

After agreeing better repayment rates with most of her lenders, Miranda figured out which debt to focus on – so she could repay more than the minimum amount each month.

“I decided to use the snowball method to clear my debts,” she said.

“That meant settling my smaller debts first and paying off the bigger ones last.

Although many experts advise you to settle the debts with the highest interest rate first so that you end up paying less interest, this does not work for everyone.

Miranda said: “I thought it would motivate me to keep paying off my debts – I wanted to see that I was making progress on my plan.

“Psychologically, this method helped me stay focused on my goal.”

Cut expenses

To settle her debts faster, Miranda tried to reduce her expenses as much as possible.

“I would aim to spend £100 a month on food, avoiding branded goods and buying things in bulk,” she said.

“Meal planning helped me stick to that budget because I was only buying the things I needed.”

She got rid of the subscription, saving nearly £100 a month.

“I had a few magazine subscriptions which saved me £30 a month after I canceled them.

“And got rid of my gym membership, saving me £40 a month.”

Miranda also said she had ‘quit my social life’ to save £250 a month.

She used to spend up to £100 a month to see her friends and £150 on train tickets to see her family and then-boyfriend.

But she stopped that, choosing to stay and save her money instead.

Credit score issues

It took Miranda 18 months to clear her debt.

“I felt good, but realized I had no savings,” she said.

“I had spent so much time settling my debts when I could have saved money to go on a trip or save an emergency fund.”

Her debt also left black marks on her credit rating because she missed some repayments on payday loans.

Your credit score indicates how well you’ve managed your borrowings over the past six years.

Lenders use it to decide whether or not to give you credit. Thus, a bad score can prevent the acceptance of your request.

Miranda waited until 2020 before she could start thinking seriously about buying a house she had saved up for.

Having black marks on your credit report makes getting a mortgage much more difficult, but by then she had managed to improve her credit rating significantly.

She said: “I regret taking payday loans. “I was in dire straits where I needed the money, but if I could go back, I never would.”

How to get help with your debts

If, like Miranda, you find your debts unmanageable, there are steps you should take to resolve your situation,

Here’s how to get yourself out of the red.

Dive into your finances

It can be tempting to try to ignore your mounting debt if you’re struggling to pay it off.

But the first thing you need to do is sit down and figure out exactly how much you owe and to whom.

Once you’ve done this, you can calculate a budget based on your expenses to see how much you can afford to repay your loans.

Talk to your lenders and be honest about your situation – you may be able to negotiate a more affordable repayment plan.

Prioritize your debts

If you don’t have enough money to pay everything you owe, pay off your biggest debts first.

These are the ones that could see you losing your home or paying exorbitant interest rates, for example – like your mortgage, council tax and energy bills.

Pay more than the minimum

If you can afford it, you should try to pay off more than the minimum amount of your debt each month.

Only meeting minimum repayments means it will take a lot longer to clear your debt and you’ll end up paying more interest as well.

See how much more you can afford to pay each month, then decide which debt to focus your efforts on.

You can choose the snowball method like Miranda and invest more money in your smallest debt first – or you can choose the debt with the highest interest rate.

Take advice

You can get free advice on how to pay off your debt.

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Luzerne County DA Sanguedolce presents its annual report

Luzerne County District Attorney Sam Sanguedolce highlighted clerical staffing shortages in his annual report required by the county’s bylaws charter.

The office currently has six open assistant district attorney positions – a “serious shortfall” of 20% that Sanguedolce attributes to a high workload and compensation that does not keep pace with education, training and ADA experience, he said during last week’s presentation to the board.

ADAs typically have to juggle 150 cases on the trial slate each month and prepare between eight and 30 cases for trial each month, “literally learning on the morning of the trial what case will go to a jury,” he said. .

Councilor Brian Thornton asked the DA if he had any recommendations for council to help fill the staffing gap.

Related Video

The salary “is the first thing to consider” in future negotiations of the collective agreement, replied Sanguedolce.

“I know it’s always unpopular to offer more money, but I think in this county we’re finding that we’re not getting the kinds of applications that we used to see,” said Sanguedolce.

The quality of job seekers increases with higher pay, which “more than offsets the increase”, he said.

More similarly sized counties raised ADA pay to attract career prosecutors equipped to handle increasingly complicated cases, breaking with the old philosophy that the county attorney’s office was only a launching pad for lawyers to gain experience before moving on to better paid private prosecutors. practical, he says.

Locally, the county’s latest union contract with unionized assistant district attorneys/public defenders, which was awarded through binding arbitration, increased starting salaries for new hires to $51,083 this year for full-time and part-time employees. $34,165 for part-time employees, according to a previously released report. This contract expires at the end of this year.

ADAs love the job but often quit because they can’t raise a family on what they get when they have hundreds of thousands of dollars in student loans, he said.

The office faces similar hiring challenges with secretaries and clerks, he said. At least 10 support staff positions are now open. Several employees left for other jobs — many in other county departments — for substantial raises, he said.

“It’s hard for me to accurately express the frustration we feel at the fact that we receive applications, screen employees and spend months training them. We determine which are good and which are not so good. And then the good ones are known throughout the courthouse and are offered a raise to work in another office, and we start from scratch,” Sanguedolce said. He did not know the solution but said he “can only hope that our labor shortage will soon come to an end”.

The office has implemented cross-training and restructuring of support staff to ensure that all criminal courtroom requirements are met, he said.

For the duration of the COVID-19 pandemic, Sanguedolce said four office division heads have left — two for deputy attorney general positions paying an extra $20,000, one to be a judge’s clerk for $10,000. more and the last to earn another $40,000 working for a local criminal. defense company.

Two part-time ADAs retired and another went to work as a part-time lawyer for an extra $4,000, he said.

Sanguedolce said ADA and support staff shortages were “only overcome by employees taking on duties beyond normal workloads.” Many staff members stayed late and/or arrived early, often without additional compensation, he said.

Case Updates

Despite pandemic-related challenges, the office brought 40 cases to court last year, he said. The holding of trials also motivates other defendants to stop delaying their guilty pleas, he said, estimating that hundreds of cases have been resolved by guilty pleas.

The county recorded 22 homicides or attempted homicides last year, though the bureau was frustrated only one was brought to trial due to pandemic limitations, he said.

“So as you can imagine, that’s going to put us in a pretty tough spot going into the fall – assuming COVID doesn’t come back, knock on wood, it doesn’t – and into the spring of 2023, when we expect to be trying these cases.


The office’s drug task force, which is funded entirely by money seized from drug traffickers, opened 344 cases and made 120 arrests last year, Sanguedolce reported.

In addition to 36 pounds of marijuana, the following grams of the drugs were collected through task force surveys last year, he said: fentanyl, 17,970; heroin with or without fentanyl, 657; hallucinogens, 1,044; cocaine, 517; crack, 728 and 3.3 ounces; and methamphetamine, 1,634.

The task force also seized 1,755 prescription pills and 104 grams of MDMA, more commonly known as Ecstasy or Molly.

Officers spent $56,205 on controlled substance purchases in an effort to arrest drug dealers, seized 61 weapons and seized 96 cash, he said.

The county had a record 208 drug overdose deaths in 201, with five awaiting toxicology test results, according to the coroner’s office.

Councilman Chris Perry asked Sanguedolce how the council could help the drug task force in its efforts.

Sanguedolce said he will ask the board to direct a substantial portion of opioid litigation funding to drug task force officers and to treating people with substance use disorders.

The county is set to receive a “pretty staggering figure” of $25.4 million in compensation from litigation against opioid manufacturers and wholesale distributors, he said. This funding cannot be used for roads or infrastructure and must support law enforcement and substance abuse support services, said Sanguedolce and Acting County Executive Romilda Crocamo.

“I think this settlement money was designed to keep people from dying in Luzerne County,” Sanguedolce said.

Weapons and automobiles

More than a dozen stolen vehicles in the county have been recovered thanks to the new Auto Theft Task Force, which is fully funded by a grant from the auto insurance industry to investigate any crime involving a auto theft, Sanguedolce said.

“We actually hunted down a number of automobiles in the Philadelphia, New York and New Jersey area that were stolen in Luzerne County,” he said.

The DA previously said the recovered vehicles included a Range Rover and a Dodge Hellcat that ended up in the hands of gang members.

Also fully funded by a grant, the Gun Violence Reduction Task Force has been successful in arresting people for falsifying reports to obtain weapons, he said.


Based on unverified financial information, the prosecutor’s office spent $4.4 million last year, about $338,000 less than expected, Sanguedolce said.

He called 2021 a “hugely successful year” despite the staff shortage.

“We have been able to bring a number of cases to trial and close and resolve a reasonable number of open cases despite the difficulties that the pandemic has imposed on us,” the DA said, expressing hope that the pandemic “continues to dissipate” so that the office can get through the backlog of cases awaiting trial.

Study shows US credit card debt on the rise: tips for managing household finances, experts say


STATEN ISLAND, NY – The cost of living for Americans has become increasingly expensive, with prices rising at gas pumps, grocery stores and just about everywhere else. It’s no surprise, then, that American consumers have racked up credit card debt in 2021.

Credit card debt grew by $74.1 billion in the fourth quarter last year, resulting in a net increase of $87.3 billion, according to research by the finance website. WalletHub. That’s almost double the average annual increase in credit card debt over the past 10 years, which is just $48.5 billion.

The average household debt of New York residents in 2021 was $15,760, with a total outstanding debt of $49,912,334,268 for the city, according to WalletHub.

WalletHub experts have predicted that the cost of credit card debt will be higher in 2022 as the The Federal Reserve should start raising interest rates this month. Experts have predicted that the cost of existing credit card debt will rise by $1.6 billion to $3.2 billion in 2022 as further rate hikes are expected throughout the year.

While WalletHub said 33 million Americans will have more credit card debt by the end of 2022, there are ways to ease financial pressures by managing finances effectively. The finance website provided the following advice:

  1. Create a budget and stick to it. It is good to have an understanding of your expenses. Once you see where your money is going, you can reevaluate how you want to manage it. Make a list of your expenses, including debt payments, emergency fund contributions, and other savings, and rank them according to their priority. Trim the details if necessary and be sure to stick to your budget plan.
  2. Build an emergency fund. Putting money aside each week or month can be very helpful, especially in times of need or unexpected unemployment. With patience, you can gradually save and have a safety net. Think about the ideal amount you would need to set aside to be safe if you were out of work for a year, and slowly build that emergency fund.
  3. Evaluate your professional situation. If budgeting and planning your finances isn’t helping your sense of financial security, start looking for other jobs in your area of ​​interest that pay higher rates. Don’t be afraid to invest in your skills and make yourself more marketable, as long as it’s worth it!
  4. Pay off your most expensive debt first. Focus on putting the majority of your monthly payments on the balance with the highest interest rate first. Then make the required minimum payment on the rest of your debts. This way, your most expensive debt will be paid off faster, allowing you to spend less on interest.
  5. Improve your credit. Once you improve your credit, the cost of your debt will change significantly. This will allow you to pay off your debt faster. Better credit also allows for better opportunities to find employment or housing.

19% of families can no longer afford housing with the end of monthly child tax credit payments


Image source: Getty Images

Many families struggle financially without these monthly payments.

Key points

  • The enhanced Child Tax Credit has not extended to 2022 so far.
  • Without these monthly payments, many families struggle to pay essential bills.

The enhanced child tax credit has done wonders for the finances of many families in 2021. Not only has the value of the credit increased over the past year, but part of it has been paid out in monthly installments that have touched recipients’ bank accounts between July and December.

Lawmakers initially hoped to keep the improved Child Tax Credit in place for 2022. This would give recipients access to higher pay with the monthly payments they had been counting on.

But as of now, the enhanced child tax credit is banned for 2022. That’s because it was included in President Biden’s Build Back Better bill, which is currently stalled in the Senate and is not expected to not advance.

If withdrawing those monthly child tax credit payments at a time of skyrocketing inflation sounds like a recipe for disaster, well, it is. A recent survey of Action ParentsEnsemble highlights how some families suffer because they do not receive this money each month.

Many families can’t make ends meet

The loss of their monthly Child Tax Credit payments has resulted in delayed bill payments for many families. A good 57% of respondents say that without these payments, it has been more difficult to meet their basic needs. And 19% say they can no longer pay their rent or mortgage payments without the extra money.

This is hugely problematic, because while there were protections in place earlier in the pandemic to help those with housing issues, these have largely expired. For renters, the federal ban on evictions expired in mid-2021. Some states have extended their own deportation bans, but at this point much of that protection has also expired.

Meanwhile, at the start of the pandemic, homeowners who couldn’t meet their mortgage payments were allowed to suspend payments via forbearance for up to 18 months. But for those who signed up at the start of the pandemic, that protection is long gone.

There are still rental assistance funds available in some parts of the country for those who cannot pay their landlords. But to be eligible, applicants generally need to show that they have suffered a loss of income or specific hardship related to the pandemic. Not receiving a monthly windfall at a time when the cost of living is rising may not be considered a valid reason to seek assistance. Additionally, many cities and states are suspending the distribution of rent relief due to limited funds and a deluge of applications to sort through.

What to do if you can’t meet your housing costs

If you’re struggling to pay your housing costs and moving isn’t an option (or an affordable option, anyway), you may still have a few strategies to explore. If you are a tenant, talk to your landlord and ask for a temporary reduction in your rent until your financial situation improves. If you are able to pay part of your rent, your landlord can agree to an arrangement as long as they receive a certain amount of money.

In the meantime, if you are a homeowner, you can ask to modify your mortgage to make it more affordable. Refinancing your mortgage could also result in lower monthly payments, but with mortgage rates rising, loan modification may be your best bet, especially if you don’t have the best credit rating.

Unfortunately, the loss of monthly child tax credit payments has been a blow to many families. Until the cost of living starts to drop, many people may continue to struggle unless lawmakers can pull themselves together and come up with a workable solution.

The best credit card erases interest until 2023

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🌱 North Fork Daily: ‘Project Laramie’ + Credit Card Theft: PD


Hello, friends and neighbors of North Fork. The weather today is expected to be less than exceptional, so be sure to stay safe and dry.

Plus, this weekend marks your last chance to see “The Laramie Project” at the North Fork Community Theater. The documentary theater work examines the story of Matt Shepard, a 21-year-old gay student in Laramie, Wyoming, who was kidnapped, brutally beaten, tied to a fence – and later died. The work is a powerful look at hate and hope, and a must-see show.

Beyond the captivating subject matter of the piece, more than ever it is important to support our local arts organizations, which have suffered such a crippling blow during the pandemic and are finally, after so many long months, able to present their work in front of a live audience.

Let’s do our best to ensure seats are filled and local arts continue to thrive in the East End.

Till next time. . . .

First, today’s weather forecast:

Heavy rain and a thunderstorm. High: 47 Low: 24.

Here are today’s top stories in North Fork:

  1. Don’t Miss: ‘The Laramie Project’ at the North Fork Community Theater: Don’t miss the opportunity to see a show that has been hailed as “a captivating and encompassing piece of contemporary theatre”. The show runs through Sunday at the North Fork Community Theater in Mattituck. (North Fork Patch)
  2. Man charged with DWI after crashing into Southold traffic sign: PD: An East Marion man was arrested and charged with drunk driving after a single car accident in Southold on Thursday afternoon, police said. According to Southold Town Police, Santos Gonzalez Garcia, 45, of East Marion, was arrested on Route 48 at 3:31 p.m. and charged with DWI, first offense; driving a motor vehicle with a blood alcohol level of 0.08 to 1%, first offence; leaving the scene of an accident with property damage; third degree aggravated driving without a license of a motor vehicle; and driving without a licence. (North Fork Patch)
  3. Sag Harbor contestant to compete in MasterChef Junior: A 13-year-old Sag Harbor will make his debut in the popular cooking competition, with judges from world-renowned chefs including Gordon Ramsay. (Room)
  4. Man used cars without permission and stole credit cards: Police: A Dix Hills man has been arrested following reports of car and credit card thefts in Greenport, police said.
    Southold Town Police say Lonnie Elliselder, 31, was arrested on Thursday and charged with three counts of fourth degree felony possession of stolen property, credit cards; and two counts of unauthorized use of a vehicle without the consent of the owner.(North Fork Patch)
  5. Things to do on the North Fork this week: March 11-17, 2022: If you are looking for things to do in our corner of the world, check out these options. (Dan’s papers)

Today on North Fork:

  • Vegetarian and Ethnic Food Preparation Workshop (10:00 a.m.)

From my notebook:

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Do you like the North Fork Daily? Here are all the ways you can get more involved:

You are now in the loop and ready to start this Saturday on the right foot! See you soon.

Lisa Finn

About me: I am a journalist whose passion is to tell the stories of people’s lives. This is your site – it’s a place where your voice can be heard. I look forward to hearing from you.

15-year fixed mortgage rates | fox business


Our goal at Credible Operations, Inc., NMLS Number 1681276, hereafter referred to as “Credible”, is to give you the tools and confidence you need to improve your finances. Although we promote the products of our partner lenders who pay us for our services, all opinions are our own.

A 15-year mortgage usually comes with a lower interest rate, but a higher monthly mortgage payment. (Shutterstock)

You may not hear about it often, but 15-year mortgages are actually quite popular, especially at a time when current mortgage rates are low. In fact, about 15% of all mortgages have a term of 15 years, according to the Urban Institute, a nonprofit research organization.

A 15-year loan term is popular for several reasons, including faster repayment times, lower interest rates, and lower long-term costs. But 15-year loans can also have drawbacks.

If you’re considering a 15-year mortgage, Credible makes it easy view your pre-qualified mortgage rates in minutes.

Current Trends in 15-Year Mortgage Rates

Here’s how mortgage refinance rates have changed over the past 12 months.

Historical mortgage rates

Here’s what the average annual mortgage interest rate looked like over the past three decades.

How Credible Mortgage Rates Are Calculated

Changing economic conditions, central bank policy decisions, investor sentiment and other factors influence the movement of mortgage rates. Credible’s average mortgage rates and mortgage refinance rates are calculated based on information provided by partner lenders who pay compensation to Credible.

The rates assume a borrower has a credit score of 740 and is borrowing a conventional loan for a single-family home that will be their primary residence. Rates also assume no (or very low) discount points and a 15% deposit.

Credible mortgage rates will only give you an idea of ​​current average rates. The rate you receive may vary depending on a number of factors.

Credible, it’s easy to compare rates from multiple lenders in a few minutes.

Advantages of a 15 year mortgage

A 15-year mortgage offers multiple benefits, including:

  • usually have much lower interest rates, saving you money over the life of the loan
  • Build home equity faster by paying a higher percentage of principal sooner
  • Pay off your mortgage sooner

Disadvantages of a 15 year mortgage

But 15-year mortgages also have some disadvantages that outweigh the advantages, including:

  • Higher monthly payments because the loan spreads the repayment period over fewer months
  • Higher payments can reduce your buying power (you’ll have to buy a cheaper house to stay within your budget)
  • Higher monthly mortgage payments can make it difficult to meet other financial goals, like saving or investing

Find the mortgage that’s right for you

Before taking out a 15-year mortgage to purchase a home, you should pull your credit report and check your credit score. Higher scores mean lower rates, so if yours is below 740you might consider taking the time to improve it before applying for a loan.

You will also want to use a mortgage calculator compare a 30-year loan to a 15-year loan. This can help you understand the impact of the two options on your home buying budget, as well as your monthly and long-term costs.

Finally, you should shop with at least three to five lenders. Once you’ve applied for approval, they’ll give you a loan estimate, which you can then use to compare each offer’s APR, closing costs, coststerms and other details line by line.

How to get a good 15-year fixed rate

Mortgage lenders Generally look at three main factors to determine your interest rate: down payment, credit rating, and debt-to-income ratio (DTI). Improving any of these areas can help lower your interest rate, as well as your chances of qualifying for the loan.

It could look like:

  • Increase your down payment
  • Improve your credit score
  • Pay off debts
  • Increase your income with a side gig or overtime

You should also pull your credit report and alert the credit bureau of any errors you find. When corrected, this could improve your score.

What credit rating do you need to get a good 15-year mortgage rate?

the credit score you will need to qualify for a mortgage may vary by lender and mortgage type. For example, you might qualify for an FHA loan with a credit score of 500 if you also have a down payment of at least 10%. And VA loans and USDA loans generally don’t have minimum credit score requirements.

For conventional loans, however, lenders generally reserve their lowest interest rates for borrowers with the highest credit ratings – those in the “very good” or “exceptional” categories.

Here’s a full breakdown of the score ranges, according to FICO:

  • 580 or less: Poor
  • 580 to 669: Fair
  • 670 to 739:Good
  • 740 to 799: very well
  • 800 or more: Exceptional

Is a 15-year fixed mortgage a good deal?

A 15-year fixed rate mortgage can be a good decision if you want to minimize your interest costs or pay off your loan in less time. But if you focus on achieving lower monthly mortgage payments or if you want a larger home buying budget, this may not be the best solution.

If you’re still not sure which is good, consider talking to a mortgage broker or loan officer. They can quote 15- and 30-year mortgages to determine which best suits your goals.

Checking your prequalified rates on Credible does not affect your credit score.

Should you get a fixed rate mortgage or an adjustable rate mortgage?

Fixed rate loans are the most common type of mortgage, and they have a constant interest rate and payment for the life of your loan. Another option, however, is the variable rate mortgage, where the interest rate fluctuates over time.

While adjustable rate mortgages, or ARMs, typically come with lower initial interest rates, those rates can increase over time (and cause your monthly payments to increase as well).

These loans are generally best if you know you’ll only be staying in the house for a short time, if you expect to earn more income before your rate can go up, or if you’re sure you can refinance at that time. -the. Again, speak to a mortgage professional if you’re unsure which loan product is best. They can review your credit, budget and long-term goals and help you determine the best mortgage for your financial situation.

Nearly half of those who got into debt during the pandemic blame inflation


CHARLOTTE, North Carolina, March 10, 2022 /PRNewswire/ — As we mark the second anniversary of the coronavirus pandemic shutdown, many Americans are still experiencing its financial and credit impact, but in very different ways. in a new investigation According to LendingTree®, the national leader in online financial services marketing, 30% of Americans have gone into debt while an additional 30% say they have improved their credit score.

Of those struggling with debt, nearly half (48%) blame inflation while 34% cite loss of income.

Main conclusions

  • The coronavirus pandemic has increased credit card debt for 30% of Americans, with inflation (48%) and loss of income (34%) cited as the top two drivers of debt. Even with the expansion of child tax credits, parents with children under 18 (40%) were more likely than any other demographic group analyzed to increase their debt during the pandemic.
  • Many consumers have struggled to pay their bills on time during the pandemic. More than a quarter of cardholders (28%) have paid their credit card bills late at least once during the pandemic, with parents of young children (45%), millennials (42%), those who earn less than $35,000 (36%) and women (33%) face more late payments than other consumers.
  • Card closures and credit limit reductions were common at the start of the pandemic, and some card issuers continue to do so. In the past 6 months, 14% of cardholders say their issuer reduced the limit on one of their cards, and 13% say their card was unintentionally closed by the issuer.
  • More than one in five consumers (22%) have not checked their credit rating at all during the pandemic, while others have seen their ratings improve. Although many Americans have faced significant economic challenges, 30% say their credit scores are higher now than they were at the start of the pandemic.
  • Consumers are looking for credit card rewards more than ever. About a third (32%) of Americans applied for a new credit card during the pandemic, and rewards were the #1 reason. 14% changed their primary credit card to maximize rewards, and 21% are cashing out more often credit card rewards.

“There was a huge disparity in how Americans were financially impacted by the pandemic, there’s no question about that,” says Matt Schulz, chief credit analyst at LendingTree. “Some people emerged from the last two years before the game, while others saw their financial world completely devastated.”

Credit Card Verification: 5 Steps You Can Take Today

No matter which pandemic credit story you relate to, these key strategies can help you maintain your credit health.

  1. Keep an eye on your credit score and credit report. It’s important to know where you stand so you can decide if your budget needs some attention. Anyone can access their free credit report from the three major credit bureaus. Additionally, LendingTree offers free monthly credit scores, credit monitoring and personalized credit health improvement recommendations.
  2. Use technology to your advantage. One of the best ways to avoid late payments, which can hurt your credit score, is to set alerts and use your credit account’s other tools. “Automatic payments can make late payment a thing of the past, and they’re usually easy to set up,” says Schulz. Just don’t get into the habit of only paying the minimum due, he adds, because that can lead to long-term debt.
  3. Analyze spending to see if current cards offer value. How you spend can change drastically over the years, and what you have in your wallet may no longer fit your lifestyle. “Take the time to review the rewards and benefits offered by your card, as well as the categories in which you spend the most and make sure they match. If not, it is probably time to buy a new card,” adds Schulz.
  4. Take debt repayment seriously. One tool that can help: balance transfer cards that offer 0% introductory periods or low APRs. “They can make a huge difference for people with credit card debt,” Schulz says. “Not only can they reduce the amount of interest you pay and the time it takes to pay off your debt, they can also streamline your finances.”
  5. Review monthly and annual budgets. “Budgets are living documents. They need to be reviewed, modified and updated regularly to ensure they are effective,” says Schulz. “Life has changed a lot for many of us over the past couple of years, so if you haven’t checked your budget lately, now is a great time to do so.”

To see the full report, visit: https://www.lendingtree.com/credit-cards/study/covid-19-and-credit-cards-inflation-debt/.

LendingTree commissioned Qualtrics to conduct an online survey of 1,249 consumers of February 7-10, 2022. The survey was administered using a non-probability sample and quotas were used to ensure that the base sample represented the overall population. All responses have been reviewed by researchers for quality control.

About LendingTree
LendingTree is the nation’s first online marketplace that connects consumers to the choices they need to be confident in their financial decisions. LendingTree enables consumers to purchase financial services the same way they would purchase airline tickets or hotel stays, by comparing multiple offers from a national network of over 500 partners in a single search, and can choose the option that best suits their financial needs. Services include mortgages, mortgage refinances, auto loans, personal loans, business loans, student loans, insurance, credit cards and more. Through the LendingTree platform, consumers receive free credit scores, credit monitoring, and recommendations to improve credit health. LendingTree proactively compares consumers’ credit accounts to offers from our network and notifies consumers when there is an opportunity to save money. In short, LendingTree’s goal is to help simplify financial decisions for life’s meaningful moments through choice, education and support. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information, visit www.lendingtree.comcall 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree

Morgan Lanier
[email protected]

SOURCE LendingTree

Mortgage Rates Today | March 9, 2022


Mortgage rates are higher this week than last, according to the latest available data.

Borrowers looking to buy a home should see rates on a 30-year fixed rate mortgage averaging 4.457%. Those considering refinancing their current mortgage should expect an average rate of 4.547% on a 30-year term.

  • The last rate on a 30-year fixed rate mortgage is 4.457%. ⇑
  • The last rate on a 15-year fixed rate mortgage is 3.453%. ⇑
  • The latest rate on a 5/1 ARM is 3.156%. ⇑
  • The latest rate on a 7/1 ARM is 3.429%. ⇑
  • The latest rate on a 10/1 ARM is 3.519%. ⇑

Money’s daily mortgage rates reflect what a borrower with a 20% down payment and a credit score of 700 — roughly the national average score — could pay if he or she applied for a home loan right now. Each day’s rates are based on the average rate that 8,000 lenders offered applicants the previous business day. Freddie Mac’s weekly rates will generally be lower, as they measure the rates offered to borrowers with higher credit scores.

Are you looking for a loan? Check out Money’s lists of top mortgage lenders and top refinance lenders.

Today’s 30-Year Fixed Rate Mortgage Rates

  • The 30-year rate is 4.457%.
  • It’s a day infold by 0.07 percentage point.
  • It’s a month to augment by 0.245 percentage points.

The 30-year fixed rate mortgage is the most popular home loan in America. As the monthly payments are spread over a long period, they will be lower than those of a shorter term loan of the same amount. Meanwhile, the fixed interest rate provides predictability. However, this rate will be higher compared to a short term loan, so you will pay more in the long term.

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Average mortgage rates

Data based on US mortgages closed March 7, 2022

Type of loan March 7 Last week Change
15-year fixed conventional 3.45% 3.4% 0.05%
30-year fixed conventional 4.46% 4.4% 0.06%
ARM rate 7/1 3.43% 3.42% 0.01%
ARM rate 10/1 3.52% 3.51% 0.01%

Your actual rate may vary

15 years today fixed rate mortgage rates

  • The 15-year rate is 3.453%.
  • It’s a day infold by 0.091 percentage points.
  • It’s a month infold by 0.214 percentage points.

The advantages of a 15-year fixed rate loan are its short duration and lower interest rate, which combined mean that your overall costs will be lower. The trade-off is that because the loan is repaid over fewer months, each monthly payment will be higher.

Use a mortgage calculator to determine which option is best for you.

The latest rates of adjustable rate mortgages

  • The latest rate on a 5/1 ARM is 3.156%. ⇑
  • The latest rate on a 7/1 ARM is 3.429%. ⇑
  • The latest rate on a 10/1 ARM is 3.519%. ⇑

The interest rate on an adjustable rate mortgage will initially be fixed, then become adjustable and change at regular intervals. For example, the rate of a 5/1 ARM will be fixed for five years and then adjusted annually. ARMs are attractive because the initial interest rate tends to be very low, but it’s important to remember that the rate could rise significantly once it becomes adjustable.

The Latest VA, FHA, and Jumbo Loan Rates

The average rates for FHA, VA, and jumbo loans are:

  • The rate on a 30-year FHA mortgage is 4.177%. ⇑
  • The rate for a 30-year VA mortgage is 4.672%. ⇑
  • The rate for a 30-year jumbo mortgage is 3.853%. ⇔

The latest mortgage refinance rates

The average refinance rates for 30-year loans, 15-year loans and ARMs are:

  • The refinance rate on a 30-year fixed rate refinance is 4.547%. ⇑
  • The refinance rate on a 15-year fixed rate refinance is 3.546%. ⇑
  • The rollover rate on a 5/1 ARM is 3.203%. ⇑
  • The refinance rate on a 7/1 ARM is 3.476%. ⇑
  • The rollover rate on a 10/1 ARM is 3.579%. ⇑
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Average Mortgage Refinance Rates

Data based on US mortgages closed March 7, 2022

Type of loan March 7 Last week Change
15-year fixed conventional 3.55% 3.48% 0.07%
30-year fixed conventional 4.55% 4.48% 0.07%
ARM rate 7/1 3.48% 3.47% 0.01%
ARM rate 10/1 3.58% 3.57% 0.01%

Your actual rate may vary

Where are mortgage rates going this year?

Mortgage rates have fallen through 2020. Millions of homeowners have responded to low mortgage rates by refinancing existing loans and taking out new ones. Many people bought homes they might not have been able to afford if rates were higher. In January 2021, rates briefly dipped to the lowest levels on record, but rose slightly for the rest of the year.

Looking ahead, experts believe that interest rates will rise further in 2022, but also modestly. Factors that could affect rates include continued economic improvement and further labor market gains. The Federal Reserve has also started to scale back its purchases of mortgage-backed securities and said it plans to raise the federal funds rate three times in 2022 to combat rising inflation from March.

While mortgage rates are likely to rise, experts say the increase won’t happen overnight and it won’t be a dramatic jump. Rates are expected to remain near historic lows throughout the first half of the year, rising slightly later in the year. Even with rising rates, it will still be a good time to finance a new home or refinance a mortgage.

Factors that influence mortgage rates include:

  • The Federal Reserve. The Fed acted quickly when the pandemic hit the United States in March 2020. The Fed announced its intention to keep money flowing in the economy by lowering the Federal Fund short-term interest rate between 0% and 0.25%, which is also low as you go. The central bank also pledged to buy mortgage-backed securities and treasury bills, supporting the housing finance market, but began to scale back those purchases in November.
  • The 10-year Treasury bond. Mortgage rates keep pace with government 10-year Treasury bond yields. Yields first fell below 1% in March 2020 and have since risen. On average, there is typically a 1.8 point “spread” between Treasury yields and benchmark mortgage rates.
  • The wider economy. Unemployment rates and changes in gross domestic product are important indicators of the overall health of the economy. When employment and GDP growth are weak, it means the economy is weak, which can lower interest rates. Thanks to the pandemic, unemployment levels reached historic highs early last year and have yet to recover. GDP has also taken a hit, and although it has rebounded somewhat, there is still plenty of room for improvement.

Tips for getting the lowest possible mortgage rate

There is no universal mortgage rate that all borrowers receive. Qualifying for the lowest mortgage rates takes some work and will depend on both personal financial factors and market conditions.

Check your credit score and your credit report. Mistakes or other red flags can lower your credit score. Borrowers with the highest credit scores are the ones who will get the best rates, so it’s essential to check your credit report before you begin the home hunting process. Taking steps to correct mistakes will help increase your score. If you have high credit card balances, paying them off can also give you a quick boost.

Save money for a large down payment. This will lower your loan-to-value ratio, which is the share of the house price that the lender has to finance. A lower LTV usually translates to a lower mortgage rate. Lenders also like to see money that has been saved in an account for at least 60 days. It tells the lender that you have the money to finance the home purchase.

Shop around for the best rate. Don’t settle for the first interest rate a lender offers you. Check with at least three different lenders to see who offers the lowest interest rate. Also consider different types of lenders, such as credit unions and online lenders in addition to traditional banks.

Also, take the time to learn about the different types of loans. Although the 30-year fixed rate mortgage is the most common type of mortgage, consider a shorter-term loan such as a 15-year mortgage or an adjustable rate mortgage. These types of loans often come with a lower rate than a conventional 30-year mortgage. Compare the costs of all to see which best suits your needs and financial situation. Government loans — such as those backed by the Federal Housing Authority, Department of Veterans Affairs, and Department of Agriculture — may be more affordable options for those who qualify.

Finally, lock in your rate. Locking in your rate once you’ve found the right rate, the right loan product, and the right lender will help ensure that your mortgage rate doesn’t increase until the loan is closed.

Our mortgage rate methodology

Money’s Daily Mortgage Rates show the average rate offered by more than 8,000 lenders across the United States for which the most recent rates are available. Today we are posting rates for Monday, March 7, 2022. Our rates reflect what a typical borrower with a credit score of 700 might expect to pay for a home loan right now. These rates were offered to people depositing 20% ​​deposit and include discount points.

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UMass doesn’t have to be that expensive – Massachusetts Daily Collegian

Decades of tuition hikes show higher education can be affordable

Ever since Bernie Sanders and other left-leaning politicians brought back the push for more affordable, if not free, college, critics have dismissed it as unrealistic. However, when you look at how affordable colleges were 40 or even 20 years ago, and how expensive they have become over time, you realize we have been lied to.

The factors behind why colleges like the University of Massachusetts have become so much more expensive are myriad and complex, even though the driving force behind it is that our governments have simply stopped spending so much money on colleges. Under the 40th President Ronald Reagan, this was no accident; Reagan said it was good for colleges to pass the costs on to students because if students had to pay, they would value their education too much to protest.

This is seen in the University of Massachusetts’ own cost increases since the early 1960s. In the 1960-61 school year, the total cost for an in-state student was $266. In 1980-81, tuition, fees, and room and board together cost $1,229 for an in-state student. Adjusted for inflation, this would represent an increase of about 66% over 1961.

Over the next 10 years, between 1981 and 1991, the total cost per semester would have more than quadrupled to $4,947. If tuition had only kept up with inflation, it would have been $1,841.47, which means a semester at UMass has become more than 2.5 times more expensive in just a decade. However, these costs only take into account tuition, not various other expenses such as meal plans and room and board.

Public funding for public universities in Massachusetts fell 30% between 2001 and 2019, and according to a MassBudget report, this was largely the result of tax cuts for the wealthy starting in the 1990s. Coinciding with the last two decades of funding cuts, families in Massachusetts have gone from about 30% of tuition in 2001 to 60% in 2018.

Various personalities in academia and the media have argued that declining public funding for colleges—if that’s even the primary reason—explains only part of the reason why even public universities have become so unaffordable. These causes include overspending on non-teaching staff, or “administrative bloat,” frivolous construction projects (and spending in general), too much student aid, or simply too many Americans going to college. .

The relevance of these factors is true to varying degrees, and even with comprehensive comparisons of these factors, we cannot get the full picture. Though a report from the left-leaning think tank Demos finds that these factors are nowhere as relevant as state funding cuts.

Increased spending required for resources that were not as relevant or costly decades ago, such as IT services, career and student life services, as well as increased funding for athletic programs, are among these factors. The report also finds that rising health care costs played a leading role in driving up employee costs, as over the same period they increased by $2,700 per employee, a 40% increase.

The report notes, however, that the number of “executives and administrators” has decreased relative to the average height of students. Additionally, the average number of staff per 1,000 students decreased from 2000 to 2012, from just over 300 to exactly 300. As for the costs of food services, sports teams, and other student life programs , they are largely self-funded by independent revenue sources. (especially in the case of sports teams) and are not the main cause of unaffordable tuition.

Construction costs can also be ruled out as a factor in why public universities like UMass have become so unaffordable. For starters, a substantial portion of construction projects are funded by private donations or directly by state governments (in the case of public universities). Even if students footed the bill for average college construction projects, the report concludes, it would only result in an 11% increase in tuition.

We can also see how construction costs were exaggerated due to the UMass building boom of the 1960s, as explained in this in-depth article by UMass alumnus Adam Lechowicz. From 1960 to 1975, UMass experienced significant growth with landmark projects such as the Southwest and Orchard Hill residential areas, Franklin Dining Commons, W.E.B. Du Bois Library, Campus Center, Thompson Hall, and several other buildings completed in just 15 years.

Adjusted for inflation, the tuition increase from 1960 to 1975 was only $63, an increase of 13%. Over the past 20 years, and with considerably less construction, tuition and fees have gone from $5,842 to $16,251; adjusted for inflation, it doubled.

All of this is not to say that factors such as frivolous construction projects, excessive bureaucracy, and an overreliance on student loan programs don’t play a role in the ever-increasing unaffordability of UMass and college. other public universities. But they distract from the main problem, which is that states like the Commonwealth are not providing their universities with the financial support they need.

Public universities like UMass were founded on the idea that if a college education is so important to our society, we should make it available to everyone who needs it. With UMass and other public colleges as unaffordable as they are now, they cannot achieve their original goal.

Given how much time has passed since colleges were last affordable, there is no easy fix. And that’s even if we get some much-needed funding increases in Massachusetts and elsewhere. If one thing is certain, there must be a better way than to cripple generations with decades of debt for a degree.

Liam Rue can be reached at [email protected]

No credit for crypto – users react to ban on credit cards issued by Russia


Cryptocurrency exchanges and financial services companies will likely no longer be able to accept transactions made with many major credit cards after the companies cease operations for Russian-based users.

On Saturday, Visa, Mastercard and PayPal said they would suspend operations in Russia following the country’s military actions in Ukraine. Visa called Russia shares an ‘unprovoked invasion’ while Mastercard noted his decision was aimed at supporting the Ukrainian people. The next day, American Express made a similar announcement, saying this would halt operations in Russia and neighboring Belarus.

Apple Pay and Google Pay are said to have restricted services for some Russians, although users are also unlikely to be able to use the aforementioned credit cards for payment app transactions.

The decision by three major US credit card companies and others to cease operations in Russia appears to have been independent of efforts to comply with economic sanctions, which applied to some Russian banks and wealthy individuals. Coinbase announcement on Sunday that he had blocked more than 25,000 wallet addresses “linked to Russian individuals or entities that we believe are engaging in illicit activities”, but at the time of publication he has not publicly addressed the ban on credit card.

Following the change in company policy, average Russians using Visa or American Express credit cards abroad or within the country apparently would no longer be able to use them for day-to-day transactions. Mastercard cards issued by Russian banks will no longer be supported by the company’s network, while those issued by other foreign banks “will not work at Russian merchants or ATMs.”

“We don’t take this decision lightly,” said Mastercard, which has operated in Russia for more than 25 years.

However, the central bank of Russia Posted a statement on Sunday that Mastercard and Visa cards would “continue to operate in Russia as usual until their expiration date,” with users able to use ATMs and make payments. It’s unclear how the Central Bank of Russia came to this conclusion given statements by credit card companies, but it did acknowledge that cross-border payments and in-person card use abroad would not be possible. .

Although the companies did not provide a specific timeline as to when operations would completely cease, at least one cryptocurrency exchange has warned users of the change, which is likely to affect many Russian users. Tuesday, Binance announcement from Wednesday, the exchange will no longer be able to accept payments from Mastercard and Visa cards issued in Russia – the company does not accept American Express.

Presumably, not all consumers wishing to buy crypto through an exchange with a credit card issued in Russia by one of these companies will be able to do so soon, although peer-to-peer transactions are apparently still available. The decision drew mixed reactions from social media, with many saying credit card companies could help Ukraine by hurting Russia economically, but at the expense of civilians who had no say in the matter. the military actions of their country.

“Preventing Russian citizens trying to flee Russia from accessing their money is a crime,” noted Marty Bent, co-founder of crypto mining company Great American Mining. “Visa and MasterCard [are digging] their own graves by politicizing their products and pushing people around the world towards Bitcoin.

“For someone staying in Russia, the cards still work, but you can’t leave because you won’t be able to pay anything,” noted Twitter user Inna, who claimed to live in Moscow. “Putin approves.”

Related: Crypto Offers Russia No Way Out of Western Sanctions

While the abolition of Visa and Mastercard is a seemingly major blow to Russia and its residents, reports to suggest the country could turn to Chinese payment systems like UnionPay – accepted by peer-to-peer cryptocurrency exchange Paxful. Russia’s central bank also has its own Mir cards for payments in the country and in nine countries, including Belarus and Vietnam.

Regulators have not issued guidelines on crypto exchanges aimed at preventing Russian users from trading their coins. The United States and the European Union have hinted that they would consider Russia potentially using digital currency transactions to evade sanctions. Leaders of many exchanges, including Kraken, have Posted statements saying they will abide by government guidelines, but not unilaterally block all Russian users.

25% of U.S. lenders prepare online for less risky payday loans post-pandemic


Payday lenders who have suffered the severe consequences of the pandemic are anxiously awaiting the end of most government programs in the United States. Those who follow the industry say high cost loans can never be fully paid off.

Since 2020, the federal government has increased unemployment benefits, federal stimulus payments and evictions. In fact, the number of loans no credit check guaranteed approval dropped in some states more than 45%. The situation is not about to change in the near future.

The story gets even more complicated as Americans have used much of their savings to pay off their debts. They do this primarily to protect a solid monthly child tax credit. Additionally, regulatory scrutiny is likely to tighten under the Biden government.

Turbocharged Trends Experienced by Online Payday Loans

Online payday loans are meant to prepare for a shift in customer preferences. Since 2019, small dollar loan volumes have declined significantly. If customer demand is lower, direct lenders tend to verify customer needs.

Company for the traditional payday lenders offers 400% annual percentage rates on loans, high fees and small payment plans. It has been attractive to everyone nationwide. But the pandemic has amplified these trends.

Payday loans are available in Alabama, Michigan, North Dakota, Washington, and Wisconsin. Since 2020, this type of service is provided at 40% and 60%. As for the low points, the federal distribution is associated with stimulus payments. According to Veritec Solutions, a data provider collates data from state regulators.

And the California Department of Financial Protection and Innovation reported a 40% drop in payday loans granted in 2020 compared to 2019 levels, and a 30% drop in payday customers. There is a movement towards long-term installment products that oppose short-term payment. It’s a popular opinion voiced by top executives at big projects like the Pew Charitable Trusts Consumer Finance.

Alliance members in government posted obvious declines in their payday loan products and other short-term loans. Despite good volumes of payments and check remittances, people are visiting stores to receive some assistance.

Even online, high cost installment lenders hasn’t necessarily seen a huge increase in business during the pandemic. Just look at the services provided by two of the biggest online lenders, Elevate Credit and Enova International. They announced an increase in profits in 2020. In the meantime, they did not confirm any growth in loans. Both companies reported a significant drop in charges. Does this mean anything unusual to you? They suffered fewer losses on their professional loans. It has to do with a wide range of factors, including current social and economic situations around the world.

How can average Americans benefit from these stories? They can access financial volumes anywhere in the world. They can borrow them and use them for personal and professional purposes. Moreover, they can use them in both short and long time frames.

More Money, Less Online Payday Loans

The government creates a direct economic environment. It demonstrates the biggest drop in in-store payday loans when stimulus checks go to people Bank accounts. The Federal Reserve Bank of New York reports that 37% of Americans are committed to using stimulus payments to cover their debts.

Are there still issues? What do you need to know? The future turns out to be quite bleak. Financial aid is not enough. Due to the pandemic, there is an increase in areas with low vaccination rates. Opponents of high costs fear that people will come back to them.

Along with pandemic relief, the federal government has increased a child tax credit of up to $300 per child. The credit is set to expire by the end of the year. President Joe Biden wants to continue for the next five years. Democrats expect to expand the program in the budget reconciliation bill.

Revenues and profits of women-owned businesses have declined


NEW YORK, March 08, 2022 (GLOBE NEWSWIRE) — The annual Biz2Credit Women-Owned Business Study found that profits for women business owners fell 26% in 2021 compared to 2020, while average annual earnings fell 4%. Additionally, the study found that operating expenses have increased, the main reason why profits have fallen in 2021.

“The cost of doing business has increased significantly in 2021, particularly labor costs, fuel costs, and raw material and inventory prices, which have soared due to the disruption of the supply chain,” explained Rohit Arora, CEO of Biz2Credit, one of the country’s leading small business experts. corporate finance and FinTech. “These economic pressures particularly hurt women-owned businesses. Supply chain shortages have negatively impacted the earning potential of small businesses.

“Additionally, the emergence of the omicron variant at a time when the first wave of COVID began to wane and continued restrictions hurt small businesses. This has resulted in consumer reluctance to patronize restaurants, Broadway theaters and other entertainment venues, as well as travel and tourism related businesses,” Arora added.

Profits for women-owned businesses averaged $88,995, well below the 2020 figure of $119,654 and $47,152 less than the average for men-owned businesses ($136,147) in 2021. The analysis also revealed that the average credit score (580) for a female business owner decreased from 588 last year and was 14 points lower than the average score for a male business owner ( 594) in the study.

The Biz2Credit study looked at 100,000 credit applications from across the country for the previous full year (2021) and looked at the financial performance of women-owned small and medium-sized businesses in the United States. Despite the austerity imposed by the COVID-19 pandemic, many women-owned businesses continue to find opportunities for growth.

The Biz2Credit Study of Women-Owned Businesses looked at financial metrics including annual revenue, operating expenses, age of business, and credit scores of loan applicants. Main conclusions:

Performance of women-owned businesses

  • Average annual income went from $493,401 in 2020 to $475,707 in 2021.
  • Average profits (annual revenue – operating expenses) of women-owned businesses fell to $88,995 in 2021 from $119,654 in 2020
  • Average expenses went from $373,748 in 2020 to $386,712 in 2021.
  • Average credit score for women business owners increased from 588 in 2020 to 580 in 2021.
  • Best Industry: Services (excluding public administration) represented 31.9% women-owned businesses in 2021.

“Although the average annual income of women-owned businesses has declined, one reason is that women have started to build new businesses at a higher rate during the pandemic. That’s the bright side,” Arora said. “The decline in the average age of companies has decreased, indicating that start-ups have been seeking funding on our platform over the past year.”

Comparison of female and male owned businesses

Biz2Credit compared male- and female-owned businesses in its study, and the numbers point to a larger problem: Women-owned businesses experience a revenue gap. Some specificities:

  • Female to Male Loan Ratio: 33% women compared to 67% of male business loan applications according to Biz2Credit data in 2021.
  • Average annual income: Women-owned businesses ($475,707) earned $199,936 less on average than male-owned businesses ($675,643) in 2021.
  • Average credit score: On average, the credit score of women-owned businesses (580) was 14 points less than male-owned businesses (594) in 2021.
  • Average loan size for women-owned businesses ($49,712) was 41% less higher than the average loan size for male-owned businesses ($83,198) in 2020.
  • Average age of businesses for women-owned businesses was almost 4 years old (45 months) and was below the working age of male-owned businesses by exactly 4 years (48 months).


Almost a third (31.9%) of women-owned businesses that applied for commercial loans in the last 12 months Services (except Public Administration). Retail accounted for 15.1% of candidates, followed by Accommodation and catering (9.1%), Health care and social assistance (7.4%), Transport and storage (5.4%) and Arts, entertainment and recreation (4.7%).


Texas is the state that produced the most applications from women-owned businesses, followed by Georgia, Illinois, Florida, California and New York.

Paycheck Protection Program (PPP) Round 2: Female or Male Owned Businesses

In December 2020, Congress appropriated $284 billion for small business COVID relief for a second round of the Paycheck Protection Program (PPP). Biz2Credit looked at its data from PPP loan applicants and found that 49% of PPP Round 2 applicants were female business owners (compared to all SBA lenders at 34%). The average amount approved for PPP Round 2 applicants who identified as female business owners on the Biz2Credit platform was $23,101, compared to $36,348 for those who identified as male business owners.

Importance of women-owned businesses

There are nearly 13 million women-owned businesses in the United States in 2019, and from 2014 to 2019, the number of businesses owned by women of color increased by 43%, according to the report on the state of women-owned businesses of American Express. An estimated 10 million people are employed by women-owned businesses and they generate nearly $1.8 trillion in revenue, according to the Census Bureau.

Biz2Credit has partnered with the Association of Women’s Business Centers, which works to ensure economic justice and entrepreneurial opportunity by supporting and nurturing a nationwide network of 140 Women’s Business Centers (WBCs). These centers help women succeed by providing training, mentoring, business development and financing opportunities to more than 150,000 women entrepreneurs each year.

“The Women’s Business Centers have grown tremendously in terms of locations and clients served. As the economic first responders to the pandemic, the Women’s Business Centers have helped a record number of clients access an all time high level of funding for their businesses, compared to previous years,” said Corinne Hodges, CEO of the Association. of Women’s Business Centers. “The nationwide network of 140 Women’s Business Centers provides free advice, training, networking opportunities and perhaps most importantly, access to much-needed finance (or capital) for businesses to start and /or develop.”

In 2021, WBC locations served 88,000 customers, helped start 3,300 businesses, and supported 89,697 jobs by delivering thousands of more than 27,000 training sessions and nearly 170,000 consulting hours. WBC clients received a higher total of SBA loans ($262,455,406) in 2021 than in 2020 (up 31%).

A success story

Women business owners expressed the importance of obtaining financing in the difficult economic circumstances of the COVID-19 pandemic, which continued to ravage many small businesses in 2021. Many entrepreneurs who were able to obtain financing reported receiving a lifeline.

“The funds I received allowed me to ease a lot of tension and pressure and allowed me to keep my staff,” Debbie Elder, owner of Shady Oak Elementary School in Richmond, TX, since 2014 “Once I got my money, all that headache went away. I was then able to focus on getting more students, marketing and making sure this financial situation didn’t happen again. Never again.

To download the report, Click here:


The Biz2Credit Women-Owned Business Study dataset includes nearly 100,000 completed credit applications received through the Biz2Credit platform in 2021. The four most important variables in the analysis were: annual income , operating expenses, business age and personal credit score. The data was then tabulated to examine female and male-owned businesses based on annual revenue, operating expenses, age of business, personal credit score, financing rate and average loan size. The study looked at 20 different industries, as well as geography.

About Biz2Credit

Founded in 2007, Biz2Credit has arranged over $7 billion in small business financing. The company extends its cutting-edge technology into customized digital platform solutions for banks and other financial institutions, investors and service providers. Visit www.biz2credit.com or Twitter @Biz2Credit, Facebook and LinkedIn.

Media Contact: John Mooney, (908) 720-6057, [email protected]

Data Breach Alert: Assured Relocation, Inc. | Console and Associates, PC


Recently, Assured Relocation, Inc. confirmed that, following an unauthorized party’s access to an employee’s email credentials, the names, addresses and social security numbers of some consumers have been compromised. Data breach attorneys at Console & Associates, PC will begin interviewing breach victims to determine the damages they have suffered and the legal claims that may be available to them. If you recently learned that your information was compromised in the recent breach, contact a data breach lawyer is the first step to understanding all of your options.

What we know so far about the Assured Relocation Data Breach

Assured Relocation, Inc. is a company that provides temporary accommodations such as hotel stays, corporate apartments for short-term stays, as well as houses, apartments, and specialty units. The company most often arranges temporary housing solutions for those who have suffered damage to their home due to a disaster, such as fire or flood. Assured Relocation often works with the insurance company to find suitable housing options for policyholders. The company is based in Redwood City, California.

According to a letter the company sent to affected parties, last year Assured Relocation, Inc. noticed suspicious activity related to an employee’s email account. The company secured the email account and launched an internal investigation to determine what, if any, consumer information the unauthorized party gained access to. On January 14, 2022, Assured Relocation confirmed that certain emails or attachments contained the names, addresses and social security numbers of certain consumers. The unauthorized party gained access to the employee’s email account on May 4, 2021.

On March 3, 2022, Assured Relocation filed a formal data breach notice and may soon begin sending data breach notification letters to everyone whose information was in the affected files.

Learn more about the causes and risks of data breaches

Often, data breaches result from a hacker gaining unauthorized access to a company’s computer systems in an effort to obtain sensitive consumer information. Although no one can tell why a hacker targeted Assured Relocation, it is common for hackers and other criminals to identify companies with weak data security systems or vulnerabilities in their networks.

Once a cybercriminal gains access to a computer network, they can then access and delete all data stored on compromised servers. While in most cases a business victim of a data breach can identify the accessed files, they may have no way of knowing which files the hacker actually accessed or deleted. Datas.

Although the fact that your information has been compromised in a data breach does not necessarily mean that it will be used for criminal purposes, being the victim of a data breach puts your sensitive data in the hands of someone unauthorized. Therefore, you are at increased risk of identity theft and other fraud, and criminal use of your information is a possibility that should not be ignored.

Given this reality, individuals who receive an Assured Relocation data breach notification should take the situation seriously and remain vigilant by checking for any signs of unauthorized activity. Companies like Assured Relocation are responsible for protecting consumer data in their possession. If it appears that Assured Relocation has failed to adequately protect your sensitive information, you may be eligible for financial compensation through a data breach lawsuit.

What are consumer remedies following the Insured Relocation Data Breach?

When clients decided to do business with Assured Relocation, they assumed the company would take their privacy concerns seriously. And it goes without saying that consumers would think twice about giving a company access to their information if they knew it wouldn’t be secure. Thus, data breaches such as this raise questions about the adequacy of a company’s data security system.

When a business, government entity, nonprofit, school, or other organization accepts and stores consumer data, it also accepts a legal obligation to ensure that this information is kept private. US data breach laws allow consumers to pursue civil data breach claims against organizations that fail to protect their information.

Of course, given the recentness of the Assured Relocation data breach, the investigation into the incident is still in its early stages. And, at this time, there is no evidence yet to suggest that Assured Relocation is legally responsible for the breach. However, that may change as more information about the breach and its causes comes to light.

If you have questions about your ability to bring a data breach class action lawsuit against Assured Relocation, contact a data breach attorney as soon as possible.

What should you do if you receive an assured relocation data breach notification?

If Assured Relocation sends you a data breach notification letter, you are among those whose information was compromised in the recent breach. Although this is not the time to panic, the situation deserves your attention. Below are some important steps you can take to protect yourself against identity theft and other fraudulent activity:

  1. Find out what information was stolen: Read the data breach letter sent by Mon Health carefully, keeping in mind the information you provided to the company as well as the type of data that was compromised in the breach. You should also take a copy of the data breach letter and retain it for your records. Of course, data breach letters aren’t always easy to understand. A consumer privacy attorney can help victims of a data breach understand what has been compromised and how to protect themselves.

  2. Prevent the hacker from accessing your accounts: Once you have determined the extent of the breach and how it affected you, you should take all necessary steps to prevent cybercriminals from gaining access to your credit or financial accounts. For example, you must change all passwords and security questions for your online accounts. You should also consider setting up multi-factor authentication where available.

  3. Protect your credit and financial accounts: Following a data breach, companies typically provide free credit monitoring services for a set period of time. It’s not a gimmick, and you’re not giving up any rights by taking a company up on its offer. Additionally, you must contact one of the three major credit bureaus to request a copy of your credit file. Even if you don’t notice any signs of fraud or unauthorized activity, it’s a good idea to request a fraud alert. Fraud alerts are free and notify potential lenders and creditors that your information has been compromised.

  4. Consider a credit freeze: A credit freeze prevents access to your credit file unless you specifically authorize it. Credit freezes are free and last until you remove them. Although freezing credit on your accounts may initially seem like a drastic measure, according to the Identity Theft Resource Center (“ITRC”), it is the “most effective way to prevent a new credit/financial account”. “However, the ITRC reports that only 3% of consumers whose information is leaked freeze their accounts. Once a credit freeze is in place, you can temporarily lift it if you need to apply for any type of credit.

  5. Monitor your credit report and financial accounts regularly: Protecting yourself in the wake of a data breach is not a one-time job. You should constantly monitor your credit report and all financial accounts, keeping an eye out for any signs of unauthorized activity or fraud. You may also consider calling your banks and credit card companies to report that your information has been compromised in a data breach.

Below is a copy of the initial data breach letter issued by Assured Relocation:

Dear [Consumer],

Assured Relocation, Inc. is writing to inform you of an incident that may have involved certain of your information. This notice explains the incident, the actions we have taken, and provides additional actions you may consider taking.

What happened?

We have concluded an investigation into suspicious activity originating from an employee’s email account. As soon as we became aware of the activity, we took immediate action to secure the email account and a cybersecurity firm was engaged to assist with a forensic analysis of the incident. Our investigation determined that an unauthorized person accessed an employee’s email account on May 4, 2021. While our investigation found no evidence that any emails or attachments from the account were viewed, we could not exclude this possibility. As a result, we conducted a thorough review of all account content to determine the specific people whose information was in the emails and attachments.

What information was involved?

We analyzed the results and, on January 14, 2022, determined that an email or account attachment contained some of your information, including your name, address, and social security number.

What we do.

Your trust is important to us, and we regret any inconvenience or concern this incident may cause. To further protect your information, we have implemented additional measures to enhance our existing security protocols and are re-training our staff to be aware of these types of incidents. Plus, we’re giving you a free one-year subscription to identity theft protection services through Experian, which includes 12 months of credit monitoring, a $1,000,000 insurance refund policy, and fully managed identity theft recovery services.

What you can do.

We encourage you to remain vigilant by reviewing your account statements and credit reports for any unauthorized activity over the next 12-24 months. If you see unauthorized debits or activity, please contact your financial institution immediately. For more information, including some additional steps you can take to help protect your information, please see the pages that follow this letter.

For more information.

We regret this incident and apologize for any inconvenience. If you have any questions, please call 844-624-1955, Monday through Friday, 6:00 a.m. to 6:00 p.m. Pacific Time.

Rising demand for contemporary housing and furniture to drive the growth of wood flooring market in 2021-2031; Study by Fact.MR


Demand for wood coatings is expected to keep pace with growth in supplier business activity, high-gloss interior design preferences and customer purchasing power

ROCKVILLE, Md., March 07, 2022 (GLOBE NEWSWIRE) — Fact.MR – A market research and competitive intelligence provider: The global wood coatings market is expected to reach over US$17 billion by the end of forecast period 2021-2031, registering a CAGR of 6.4%. Widespread urbanization has spurred demand for housing, increasing sales of different grades of furniture, ultimately spurring the adoption of wood coverings.

Application for wood coverings is expected to follow growth in supplier business activity, bright interior design preferences, and customer purchasing power,” says the Fact.MR analyst.

According to historical data, sales of wood coatings grew at a CAGR of 5%, reaching US$9 billion by the end of 2016-2020. As the service sector grows, a significant portion of the population moves to new locations, fueling the creation of hostels, co-living spaces, guesthouses, and government buildings. This is expected to increase demand for a wide range of furniture products.

In the furniture sector, interior design concepts for homes, businesses and apartments are constantly evolving. This encourages innovation and development, especially in terms of design, size and color, and is expected to boost the global furniture manufacturing volume. All the above-mentioned trends will significantly boost the demand for wood coatings in the coming years.

The market for wood coatings is estimated to grow with advancements in technology as well as high demand for low VOC coatings. The recovery of the global economy would also boost demand for wood coatings.

For critical insights into this Wood Flooring Market, Request a Sample Report https://www.factmr.com/connectus/sample?flag=S&rep_id=4538

Key insights from market research

  • Global wood coatings market will add 1.8x value in 2031 compared to 2021

  • By end use, furniture will emerge as a key application area, with a CAGR above 6% through 2031

  • Solvent-based wood coatings will account for 66% of total demand through 2031

  • Powder-based wood coatings account for 1/3 of global demand

  • Approximately 2 in 5 wood siding sales will occur in the US market

  • Wood coating sales in Europe are expected to register a CAGR of 5% over the forecast period

  • East Asia will account for nearly a quarter of global wood coatings demand

Wood Cladding Market Competitive Landscape –

Wood siding manufacturers are expanding the market through a mix of innovation and awareness. Thanks to a booming housing industry, manufacturers of wood finishes continue to see good growth.

  • Demand for wood coatings is expected to keep pace with growing supplier business, high gloss interior design preferences and customer purchasing power.

  • Leading competitors such as BASF SE, The Dow Chemical Company, Nouryon, Sherwin-Williams Company, Hempel A/S. and Valspar Corporation buy the main shares.

  • Companies are taking advantage of opportunities in Asia-Pacific. Recently, the industry has seen an expansion of its manufacturing capacity to take advantage of its existing history in wood coatings and paints. More information available

To learn more about the wood coatings market, you can contact our analyst at https://www.factmr.com/connectus/sample?flag=AE&rep_id=4538

Fact.MR, in its new report, offers an unbiased analysis of the global wood coatings market, analyzing the historical demand from 2016 to 2020 and the forecast statistics for 2021-2031.

Key Segments Covered in the Wood Coatings Market –

type of product

Type of coating

  • Preservative wood coatings

  • Wood stain Coatings

  • Shellac Wood Siding

  • Other wood coatings (oil, wax, etc.)

End use

  • Wood coverings for furniture

  • Wood coatings for construction

  • Wood coatings for marine applications

  • Wood coatings for other end uses

Sales channel

  • Sales of wood coatings through institutional channels

  • Sales of wood coatings through retail channels

  • Sales of wood coatings through online channels

  • Wood Siding Sales Through Home Improvement Stores

  • Sales of wood coverings via hardware stores

  • Sales of wood coatings through franchised paint and coating stores

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Key Benefits for Wood Cladding Market:

  • Wood Coatings Market analysis covers in-depth information about major industry players

  • The Wood Coatings market size has been analyzed across all regions

  • Porter’s Five Forces Analysis helps in analyzing the potential of buyers and suppliers and the competitive scenario of the industry for making strategies

  • The report outlines current Wood Coatings market trends and future Wood Coatings market size scenario from 2017 to 2025 to understand the existing opportunities and potential investment pockets. The market is planned for 2020-2025

  • Major countries in the region have been mapped based on their individual contribution to regional market revenue

  • Key drivers, restraints and opportunities of the Wood Coatings market and their detailed impact analysis are explained in the study

To understand how our report can make a difference to your business strategy, purchase a copy of this report at https://www.factmr.com/checkout/4538

About Fact.MR’s Chemistry and Materials Division

Expert analysis, actionable insights, and strategic recommendations from Fact.MR’s highly experienced chemicals and materials team help customers around the world meet their unique business intelligence needs. With a repository of over a thousand reports and over a million data points, the team has analyzed the automotive industry in over 50 countries for over a decade. The team provides unparalleled end-to-end research and advisory services. Contact us to find out how we can help you.

Discover more studies related to the chemical and materials industry, conducted by Fact.MR:

Analysis of the consumption of natural gelling agents Forecast prospects (2022-2032)- The application of natural gelling agents in the production of food and beverage products accounted for the highest market share, which is mainly attributed to the increased consumer awareness about the use of ingredients naturally occurring in packaged foods.

Growing Awareness of Feminine Hygiene Products in Developing Regions Use of fluff paste – Lint paste is an absorbent material derived from pine or spruce trees, and has been best used for its application in diapers and feminine hygiene products.

Analysis of the demand for metals in electric vehicle charging infrastructure – The rapid integration of electric vehicles into our daily lives is increasing. To charge these vehicles, charging stations are essential. Thus, manufacturers are focusing on improving the infrastructure of charging stations to make them resistant to corrosion.

Ammonium Thiosulfate Market Outlook (2022-2032) – Global ammonium thiosulfate consumption is estimated to reach US$373 million in 2022. In addition, global ammonium thiosulfate is expected to reach a valuation of US$802 million by 2032, growing at a CAGR by 7.9% over the period 2022-2032.

About Us:

Market research and consulting agency that makes the difference! That’s why 80% of Fortune 1000 companies trust us to make their most critical decisions. Although our experienced consultants use the latest technology to extract hard-to-find information, we believe that our USP is the trust our clients place in our expertise. Covering a wide spectrum – from automotive and Industry 4.0 to healthcare and retail, our coverage is extensive, but we ensure that even the most niche categories are analyzed. Our sales offices in the USA and Dublin, Ireland. Headquarters based in Dubai, United Arab Emirates. Contact us with your goals and we will be a competent research partner.


Mahendra Singh

USA Sales Office:

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Rockville, MD 20852

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Email: [email protected]

Tel: +1 (628) 251-1583

Singaporean man stole Riot Games co-founder’s credit card data


Close up of hands typing on laptop. (PHOTO: Getty Images)

SINGAPORE — A Singaporean has impersonated the co-founder of a major US-based game developer after discovering his credit card details.

Ho Jun Jia, 32, then created an email apparently using Marc Merrill’s credit card details and paid for cloud computing services to mine the cryptocurrency. Merrill is the co-founder of Riot Games, the game developer and publisher behind the best-selling League of Legends.

Ho pleaded guilty to 12 counts, mostly under the Computer Misuse and Cybersecurity Act.

Then unemployed, Ho had registered an account with Amazon Web Services (AWS) to purchase cloud computing services in 2016. He used those services to mine cryptocurrency. After several months, Ho was unable to pay for the services and his account was terminated. He was prohibited from using his own details to open another account.

In 2017, Ho helped make U.S. driver’s licenses for others using Photoshop. He offered his services on a dark web forum. In return, the forum owner granted him access to the “Personal/VIP” section, which contained details of individuals’ names, addresses and credit card details.

It was there that he came across Merrill’s credit card details. Around October 19, 2017, Ho obtained the private contact details of 70 people, including Merrill. He was aware of Merrill’s association with Riot Games.

Ho used Merrill’s contact information to create an AWS account after researching his family background. He also used the American Express (Amex) username and password recovery process to obtain Merrill’s password for his Amex account. He logged in and browsed the account. He also changed the email address associated with the Amex account.

After taking control of the Amex account, Ho tricked AWS between November 4, 2017 and January 28, 2018 into thinking he was Merrill and tricked AWS into providing cloud computing and related services worth $100,000. approximately $5,213,821.99 ($7,111,574.99).

On November 5, 2017, AWS sent an email to Ho requesting a copy of the current invoice or national ID for verification. Ho then downloaded a copy of Merrill’s bill from the Amex account and used Photoshop to forge a US driver’s license with a photo of Merrill he found online.

On November 30, 2017, AWS sent an email advising that they had suspended the account due to an issue confirming payment information. Ho again downloaded Merrill’s documents to do so.

Ho purchased services worth approximately US$135,861.12 with Merrill’s credit card in November 2017.

Between November 21, 2017 and March 1, 2018, Ho acquired units of the Ether cryptocurrency, obtained by cheating on AWS. Ho sold some of the Ether units for $347,794.83 and spent the money from the sale and the remaining Ether units on personal expenses.

In 2019, Ho was indicted in the United States for federal crimes related to a scheme to mine cryptocurrencies using stolen computing power and services.

Stay informed on the go: Join Yahoo Singapore’s Telegram channel at http://t.me/YahooSingapore

Your money: Has someone taken out a loan on your behalf? Follow these steps immediately


The quickest way to check what’s happening on your PAN is to get a copy of your credit report.

Can someone take out a loan in your name? It seems unlikely. But recently, many people on social media were surprised to find loans issued against their PANs by a lending institution. Worse still, some of the loans had not been repaid. Through no fault of their own, these people’s credit ratings were damaged by the defaults.

In what situations can a loan be issued in your name? Well, it can happen both legally and fraudulently. Loans are linked to your PAN. Any loan linked to you is linked to your PAN. In the loan scams above, people’s PANs were quoted in loan applications, which were then approved without verification. Since there is a risk of misuse, you should protect your PAN and be careful who you give copies to. Your PAN may also be legitimately linked to someone else’s loan. If you are a co-borrower or guarantor of a loan, this would affect your PAN. If the person whose loan you guaranteed defaults, it will impact your credit score. Although this loan does not belong to you, as a guarantor, it may become your responsibility to repay it. Failure to do so will hurt your credit score.

Check your credit score regularly
The quickest way to check what’s happening on your PAN is to get a copy of your credit report. Your credit report lists details of all loans associated with your PAN. The amount borrowed, in what form, when, if the payments were made on time, and what the loan status is, are all mentioned in the report. If a loan was obtained fraudulently against your PAN, this will also reflect on the report. Regularly checking your credit report can help you keep track of these incidents and prompt you to take corrective action. It is advisable to check your credit report monthly, especially if you are using any form of credit.

How to report fraud
If you’ve spotted suspicious items in your credit report, don’t waste time getting to the bottom of it. The longer you delay, the greater the financial damage. In recent cases, the frauds have been reported to the lender. One victim reported that the lender acted quickly to disassociate his PAN from the fraudulently contracted loan. This removed the loan from the person’s credit history. Immediately, his credit score went from 776 to 830. It is also important to document these interactions with the lender and log the matter. Written assurance should be obtained to ensure that the matter is investigated.

How to escalate the case
If they are not satisfied with the lender’s response in such cases, citizens have the right to escalate the matter through various channels. First, you can go to the banking ombudsman with your complaint. If that’s not enough, you can go to consumer court or the local cybercrime unit. You should also bring the matter to the attention of the credit bureaus. They have their own escalation matrix through which errors in your credit history can be rectified. You must be mentally prepared for a lengthy rectification process if any party involved challenges your version of events. But if your story is clear, the problem can be solved quickly.

Loan fraud can be expensive. But there are tools to help you detect it quickly. Make credit checks a monthly exercise to stay on top of your credit health.

The author is CEO, BankBazaar.com

4 things to know about personal loans


NEW YORK, March 05, 2022 (GLOBE NEWSWIRE) — Personal loans allow borrowers to withdraw cash for a variety of purposes, such as replenishing their emergency fund, refinancing high-interest debt, or even making a purchase important. These loans are flexible, offer quick funds, are available online, and do not necessarily require borrowers to post collateral.

But before getting a personal loan, borrowers need to understand some basic details about them so they can have a good repayment plan in place and avoid making financial mistakes. Here are four important things borrowers should know about personal loans before deciding to get one.

1. They’re available in-store and online

Personal loans are available in person at branches of banks and lenders, but they are also available online through banks, lenders, and P2P marketplaces. This means borrowers have the ability to apply and obtain financing online from the comfort of their own home.

People who prefer personalized help and working face-to-face with a lender should apply in person. On the other hand, borrowers who want a quick and convenient experience should find an online lender.

2. There are several types

There are several types of personal loans, including:

Installment loans

Installment loans allow a borrower to withdraw a lump sum of cash at a specified interest rate and repay it in monthly installments of principal and interest. These payments are fixed, which facilitates their budgeting. Borrowers often use installment loans for refinancing or major purchases.

Cash advances

Cash advances give borrowers a few hundred dollars to cover expenses before they receive their next paycheck. These loans tend to last two to four weeks, and many lenders offering them have more lenient credit score requirements.

Borrowers will repay the entire cash advance plus interest when the loan matures. They can sometimes roll over the loan for another two to four weeks by paying an additional fee. Borrowers with poor credit who need cash quickly often rely on cash advances.

Lines of credit

Lines of credit allow borrowers to borrow as much money as they need up to their credit limit and then pay it back all at once or over time as they see fit. With these loans, only the funds withdrawn accrue interest.

Many borrowers use lines of credit as emergency funds or to finance a project or expense that has unpredictable costs, such as home renovations.

3. They can affect credit rating

Personal loans can positively and negatively affect a borrower’s credit rating. When the borrower makes an application, the lender can carry out a thorough investigation to check his credit. This slightly damages the borrower’s credit score, but fades and falls off their credit report after two years.

Personal loans can also have a positive impact on borrowers’ credit scores. A borrower can use a personal loan to boost their score by making regular monthly payments on time.

The bottom line

Personal loans are widely available these days. From cash advances to installment loans and lines of credit, there are several types available both online and in physical stores. Plus, they can be great financial tools, allowing borrowers to boost their credit score and accelerate their progress toward their financial goals. That said, borrowers should shop around and research lenders and loan types before making a decision. This will help them get a loan that fits their budget and needs.

Notice: The information provided in this article is provided for guidance only. Consult your financial advisor about your financial situation.

This content was posted through the press release distribution service on Newswire.com.

Two proposed RV parks near Great Sacandaga Lake have neighbors worried

A public hearing was held on January 19 at the Mayfield Volunteer Fire Department to express views on the proposed Woods Hollow RV park. Here, residents hand in their letters of opposition to members of the city council. Photo by Marc Schultz

By Gwendolyn Craig

The shores of Great Sacandaga Lake, the man-made body of water in Fulton and Saratoga counties, could become an RV destination as two campground proposals make their way through the Adirondack Park review Agency. Neighbors living next to these currently undisturbed tracts of land are wary of the projects, and some have hired lawyers and filed a legal complaint.

The two proposals include a 300 unit RV park in the town of Mayfield and a 26 unit RV park in the town of Broadalbin. They are about seven miles apart at the southern end of the lake. Mayfield’s proposal is currently an incomplete application to the APA. Part of the project is outside the Blue Line. The APA deemed the Broadalbin proposal, which is entirely within the park, complete. It is in public consultation until March 10.

Attorneys Claudia Braymer and Ben Botelho are representing Mayfield and Broadalbin residents as the cities, APA and other state agencies review RV park applications. In letters to the APA about both projects, the Braymer company said its customers were concerned about increased noise, traffic, wildlife and water quality impacts.

Broadalbin’s proposal

Mike and Lorraine Bogdan of Peacock Properties applied to the APA in July 2020 for a 75-unit seasonal RV park on the south side of Union Mills Road in Broadalbin.

In August 2020, 19 neighbors wrote a joint letter to the APA that they were “totally opposed to the proposed project. A major project like this will forever change the rural, non-commercial characteristics of our neighborhood that we appreciate and want to maintain. Several others submitted their own comments against the proposal. A request for APA records did not result in any letters of comment from residents supporting the project.

APA records show several notices of incomplete applications over the years. The Bogdans reduced their request to 25 RV lots and one rental cabin. They also canceled plans for an amphitheater and restrooms, while keeping a proposed 10,000 square foot barn to host weddings, family reunions and other events.

Residents continued to write the APA with concern.

Over the summer, Myron Kuchark, Evelyn Kuchark, Kimberly Cummings, Shauna Traskos and Tracie Kuchark filed a lawsuit against Peacock Properties in Fulton County State Supreme Court. The complaint alleges that the Peacock Properties pond flooded neighboring Kuchark property, causing “a substantial portion of the plaintiffs’ land” to “become a swamp and a large number of trees have died and the ground is otherwise destroyed”.

The plaintiffs want the Bogdans to install a system of ditches and drainage and pay for the damages.

In a December letter to the APA, the Bogdans wrote that Mike Bogdan “went like a good neighbor and tried to fix the problem”, and they planned to fix the overflow.

Myron Kuchark, 79, said he took legal action to resolve the flooding issue before the RV park project went ahead. He hoped to reach an agreement with the Bogdans soon.

Kuchark’s grandfather bought the land around 1920, and it has been in the family ever since. He said he was concerned that the VR proposal would fit the character and use of the land. He is skeptical of the APA board and its concern for the environment, he said, after approving a subdivision around Woodward Lake in Fulton County, just west of the Great Sacandaga lake and north of RV park proposals.

Kuchark said he didn’t want to judge the board prematurely on Peacock Properties’ proposal.

“They should welcome all contributions,” he said. “We just hope they make a fair decision.”

In a letter to the APA, law firm Braymer argued that the event barn should be a separate and distinct use of the RV park. He also believes that the event barn is an incompatible use for the APA’s rural land use classification. The company also said that until Kuchark’s litigation is resolved, “the APA should refrain from any review or approval of the project.”

The Adirondack Explorer contacted Mike Bogdan by phone, but he referred questions to his wife. Lorraine Bogdan did not respond to calls for comment.

The Bogdans have written several letters to APA staff responding to their neighbors’ comments and pointing out that their proposal is one-third the number of RV spaces compared to their original plan.

“We plan to use our pristine lands, natural habitat and beauty as a benefit and treat to share with our future guests,” the Bogdans wrote to APA. “We have over 88 beautiful acres and only develop less than 5 acres.”

The Broadalbin town planning council is awaiting the APA’s decision before issuing its approvals.

Mayfield Project

The Winney family submitted their application for a 300-lot RV park about seven miles west of the Bogdans on Woods Hollow Road. The Town of Mayfield Planning Board held a public hearing open in January and continues to accept input before making a decision on whether to accept a site plan.

Lane Winney
Lane Winney listens to comments on his proposal during a January 19 public hearing at the Mayfield Volunteer Fire Department. Photo by Marc Schultz

Owners Lane and Jamie Winney and their daughter, Kalei Winney, received a $200,000 prize in December as part of Round 11 of the Regional Economic Development Council initiative. The reimbursement grant is through Market New York and can be applied to construction, supplies, and engineering expenses.

The Winneys are offering an RV park and campground on Woods Hollow Road that will include a boat launch on Great Sacandaga Lake. In their APA application, they identify Mayfield’s Comprehensive Town Plan from 2013 which indicated that the area lacked “adequate tourist accommodations”. The Winneys’ application “suggests that the proposed Woods Hollow RV park is exactly what the 2013 Global Plan envisions for a new RV park in the city.”

The Winneys did not respond to Explorer’s multiple requests for comment.

Their proposal was strongly rejected by the locals. Several dozen people attended a public hearing in January that had been delayed for months due to meeting notice errors.

The explorer filed a Freedom of Information Act request with the city for the written testimonials and public comments submitted. About two dozen comments were against the project as presented. About half a dozen were in favor of the project.

Kalei Winney wrote a letter to the board after the January 19 hearing. His family owns and operates an existing RV park in Northville called Dun ‘Loggin’ Campground. For the past five years, Kalei Winney has managed the campground store, but hopes to one day manage the Woods Hollow site, she said. Many families who camp at Dun’ Loggin’ are long-time guests who use the campground as a second home. Some of the commentators against the RV park have made assumptions “based on rather absurd stereotypes they have of people camping”, she said.

Two neighbors of Dun ‘Loggin’ Campground have written in favor of Woods Hollow RV Park. One, Joseph Moran, said he lived directly across from Northville Campground and the property was “clean and neat” and quiet at night.

The Winneys also have the support of the Fulton Montgomery Regional Chamber of Commerce and the Fulton County Center for Regional Growth, records show.

Travis Mitchell
A public hearing was held on January 19 at the Mayfield Volunteer Fire Department to express views on the proposed Woods Hollow RV park. Travis Mitchell, PE, of Environmental Design Partnership, reviews plans for the RV park. Photo by Marc Schultz

In its $200,000 prize announcement, the Regional Economic Development Council said the campground “will increase tourism in the Mohawk Valley. This project will provide a safe and affordable getaway for families who want to reconnect with the outdoors while creating last memories.

A local resident, Matt Kieley, was not only against the project proposal, but also alarmed at the way the planning board conducted the January 19 hearing.

Kieley wrote to the Winney family and their engineer gave a 25 minute presentation while the residents were given 3 minutes to speak “and nearly every resident who had prepared remarks was cut short”. Officials leading the meeting treated residents as if they were an “angry mob,” Kieley said.

Kieley also called the city’s overall plan “outdated” and suggested the planning board bring in a third party “to fully understand the risks this project entails.”

“I believe this project is very short-sighted and will have a profound and negative impact on our community and the lake for many years to come,” Kieley added.

Carol Ellis, who lives on Woods Hollow Road, wrote concerned about traffic and public safety.

“I truly believe that the obstructions this park will generate will actually change the outcome from a crisis to a devastation simply because the aid lane was deliberately voted to be compromised,” Ellis wrote. “It’s in your hands and you have the responsibility to do your homework.”

The Great Sacandaga Lake Association also wrote to the planning board that the majority of its members did not support the project and wanted more information on potential water quality impacts.

In a notice posted on the city’s website, Fulton County Senior Planner Aaron Enfield said he would continue to accept comments mailed to [email protected] or at the Fulton County Planning Department, c/o Town of Mayfield Planning Board, 1 East Montgomery St., Johnstown, NY 12095.

The Mayfield Planning Board did not meet in February, but is due to hold its next monthly meeting on March 16.

Environmental Policy Updates

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Interest rates are rising – you should pay off your credit card now


Interest rates should start to rise soon.

This means that carrying a balance on your credit card could cost you more.

Hochul announces $25 million initiative to build 1,500 green homes in New York

How high do rates go?

Credit card charge increased by $52 billion during the last quarter of 2021. According to the Federal Reserve, this is the largest quarterly increase in 22 years.

Interest rates are expected to rise soon to fight inflation. Inflation soared 7.5% last month, the fastest pace in 40 years.

Rising rates mean now is the perfect time to pay down or reduce your credit card balances.

If you pay your credit card bill in full every month, you don’t have to worry. But, if you have a balance, it will cost you more as rates go up.

IRS: Average amount of tax refund in 2022

How can I save money?

  1. Pay off or reduce any existing credit card debt
    • snowball method – pay off your smallest debt first, regardless of interest rates.
    • avalanche method – start by paying off the debt with the highest interest rate first.
  2. Transfer your balance to a credit card at 0%
  3. Focus on paying off seeded card debt, not earning points or cashback
  4. Consider obtaining additional sources of income
    • a part-time job
    • reduce your expenses
    • sell stuff around the house that you don’t use
  5. Use your debit card or cash instead of your credit card
  6. Leverage your credit with a 0% credit card

Mortgage: Will you qualify for a USDA loan?

7 ways to protect your financial investments from theft


cyber security is a growing concern in all areas of life. Businesses and political entities were put on high alert when the SolarWinds hack took place in 2019. Individuals have also suffered countless data breaches in recent years, including big names like Yahoo and Target.

Even the rise of a supposedly safe cryptocurrency has created plenty of scams, like the Squid Game currency pump and dump from late 2021. Add to that the rise of things like identity theft and fraudulent claims for UI perks, and you could say the world has never felt so good. unstable or threatening.

The good news is that there are many ways people can fight the growing threat of digital theft – especially when it comes to their finances. Here are a variety of the best ways to protect your financial investments from theft, no matter where or how long you might have your money hidden away.

1. Do your homework with suppliers

Most of these recommendations concern the consolidation of existing financial investments. However, it’s worth taking a moment to point out that the first step to protecting your finances is choosing the right vendors to work with.

This is a nuanced activity that cannot be turned into a formula. As thieves change tactics, companies are constantly forced to adapt and adjust their business processes to stay secure. This means that when setting up financial investments, you want to look for companies that proactively take steps to keep their customers safe.

A simple example of this can be seen with the investment leaders at Nasdaq. While the financial firm knows how to manage its core security needs, at one point Nasdaq faced a difficult and complex identity management framework. This made it difficult to ensure that everyone could securely log in and access the correct areas of its internal software systems.

Rather than sit on the growing problem, the company trusted Okta to rationalize its traditional system. The IdP (identity provider) did this by using tools, such as its single sign-on (SSO) and adaptive multi-factor authentication (MFA), to restore both the security and usability of the company system.

When setting up a new financial investment account, always research this type of activity beforehand. How does the vendor you are considering take steps to ensure the security of their own system? As a general rule, always opt for safe systems to protect your financial investments.

2. Identify your risks

Before you start making specific changes to your accounts, you need to understand where your risks are coming from. This is naturally a very open request. There is no end to the number of fraudulent threats that exist and are emerging.

Nevertheless, it is worth taking the time to identify the risks particularly present in your current financial accounts. For example, Kiplinger points out six main risks at the moment, which include:

  • Data Breaches;
  • Account takeovers;
  • Fraud without a card;
  • Synthetic impersonation;
  • Peer-to-peer payments;
  • Government benefits and tax scams.

Each of these concerns threatens different areas of the financial sector. It’s wise to organize your financial accounts to see which of these risks should be on your radar.

Start by taking the time to understand what you have. Then make sure you know where each account is. Finally, use the rest of the steps in this resource to make sure every account is safe and secure.

3. Protect yourself against identity theft

Your identity is the main gateway to your financial investments. There are many ways for a criminal to try to raid a single account. But if they can impersonate you, they have a real chance of getting into multiple places.

With that in mind, one of the best steps you can take to indirectly protect your investments is to protect your identity. Consumer Affairs reports that there has been a 311% increase victims of identity theft between 2019 and 2020. The catalyst for this spectacular increase? The pandemic.

The site explains that working from home has taken many people away from the security of corporate professional networks. This exposes countless people to the threat of cybersecurity risks, including identity theft.

Many financial experts recommend purchasing identity theft protection as an easy way to protect against identity theft. This can usually be done for free, and although it takes some work, it’s worth it as an extra layer of protection for yourself as well as your finances.

4. Cover the basics

So far, we have discussed high-level activities to protect financial investments. However, at some point you also have to go down into the trenches and do some of the dirty work.

These basic security activities revolve around simple but crucial security measures that are as old as the Internet. For example, during a discussion saving financial informationFinra starts with the triple recommendation of protecting usernames, passwords and PINs.

There are many ways to do this. Strong PIN codes usually consist of at least eight digits and, sometimes, even symbols. Passwords should also be long and strong.

In addition to creating good passwords and PINs initially, there are many ways to keep them up to date over time. It is recommended to change passwords often. The use of multifactor identification is also sensible. Also, don’t use the same password on multiple accounts. Many experts suggest using a password manager to help you keep everything tidy while protecting your accounts.

5. Protect your network and devices

In addition to your digital passwords and PINs, you also want to protect your physical hardware. This includes your network (i.e. your router) and the devices you use to access the internet through that network.

There are many ways to protect your local network and your devices. For example, you can:

  • Set up firewalls on your devices and on your network to protect against prying viruses and more cyber threats.
  • Use a VPN (a virtual private network) to hide your activity and make it harder for criminals to track.
  • Install robust security software to provide industry-leading cybersecurity protection.
  • Enable automatic updates to keep all your software patched and protected.

Your personal network and devices can be a weak link in your financial protection plan. Be sure to take the time to turn them from a potential backdoor into a safe haven where you can take care of your finances in peace.

6. Avoid direct bank connections and public networks

Criminals love to use public connections to attack innocent victims. This is why the United States Securities and Exchange Commission fully recommends avoid using public computers to access financial accounts.

If you find you need to use a computer on a public network, the ministry recommends a few steps to help you do so safely. For example, they suggest never providing personal information to access anything on a public computer. They also suggest never stepping away from the computer while logged in, logging out when you’re done, and disabling password saving features.

Along with the SEC’s suggestions for public computers, it’s also wise to avoid connecting your bank account to anything you don’t have to. Rather than using a debit card, always use a credit card when possible.

When you visit websites, get into the habit of also checking to see if they are safe. Look for the “https” rather than just “http” at the start of the URL – the extra “s” stands for “secure”. Also look for a secure symbol, such as a padlock, before the URL.

7. Be smart and stay aware of financial activity

Finally, be sure to cultivate smart cybersecurity best practices throughout your life. A handful of obvious ones that come to mind include:

  • Never respond to a request from someone you don’t know with personal information.
  • Use credit freezes as a way to lock down your finances in times of concern.
  • Check your credit reports often — upload your free report from each credit bureau at least annually.
  • Enable notifications with all your finance-related apps and sites to make sure you’re aware of suspicious activity (or anything else that needs your attention) as soon as it happens.

These are just a few recommendations. The important thing is that you get used to maintaining a certain level of vigilance with regard to your financial investments.

This also closes our list with the first recommendations. Always start by monitoring your financial institutions and assessing potential risks. Once done, take steps, like those recommended above, to protect your investments.

Even when this is done, however, don’t be overconfident in your safety. The world of cybersecurity is constantly changing and new threats are constantly emerging. Maintain a sense of vigilance as you work proactively to regularly protect your financial investments from theft.

Once this has been put in place, you can rest easy knowing that you have done everything in your power to ensure the security of your financial future.

By Peter Daisyme for Due.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Data Breach Alert: Touchstone Medical Imaging, LLC | Console and Associates, PC


Touchstone Medical Imaging, LLC (“Touchstone”) recently filed official documents with the State of Texas stating that consumer information has been compromised by what appears to be a data breach resulting from a system outage experienced by company in December 2021. Data breach attorneys at Console & Associates, PC will begin interviewing breach victims to determine the damages they suffered and the legal claims that may be available to them. If you recently learned that your information was compromised in the recent breach, contact a data breach lawyer is the first step to understanding all of your options.

What We Know So Far About the Touchstone Medical Imaging Data Breach

Touchstone Medical Imaging is a Plano, TX based diagnostic imaging service provider. However, the company also provides imaging services to patients in Colorado, Oklahoma, Nebraska, Florida and Arkansas. Touchstone Medical Imaging provides the following services: MRIs, CT scans, PET/CT scans, ultrasounds, female imaging, X-rays, arthrograms and myelograms.

According to recent news report, in late 2021, Touchstone Medical Imaging patients who showed up for their appointments were told the “company’s system was down.” Obviously, the staff also informed the patients that their appointments would be cancelled. This caused concern among some patients, who feared that the system outage would affect their personal information.

In a later statement, Touchstone Medical Imaging said, “After a recent system outage caused by a security incident, Touchstone Medical Imaging is back to scanning patients at all DFW sites.”

However, more recently, Touchstone filed a data breach notice with the Texas Attorney General stating that 46,779 Texas’ information has been compromised.

On or about February 22, 2022, Touchstone Medical Imaging began sending data breach notification letters to all individuals whose information was in the affected files.

Learn more about the causes and risks of data breaches

Often, data breaches result from a hacker gaining unauthorized access to a company’s computer systems in an effort to obtain sensitive consumer information. Although no one can know why a hacker targeted Touchstone, it is common for hackers and other criminals to identify companies with weak data security systems or vulnerabilities in their networks.

Once a cybercriminal gains access to a computer network, they can then access and delete all data stored on compromised servers. While in most cases a business victim of a data breach can identify which files were accessed, they may have no way of telling which files the hacker actually accessed or whether they deleted data.

Although the fact that your information has been compromised in a data breach does not necessarily mean that it will be used for criminal purposes, being the victim of a data breach puts your sensitive data in the hands of someone unauthorized. Therefore, you are at increased risk of identity theft and other fraud, and criminal use of your information is a possibility that should not be ignored.

Given this reality, individuals who receive a Touchstone Medical Imaging data breach notification should take the situation seriously and remain vigilant by checking for any signs of unauthorized activity. Companies like Touchstone are responsible for protecting consumer data in their possession. If it appears that Touchstone has failed to adequately protect your sensitive information, you may be eligible for financial compensation through a data breach lawsuit.

What are consumer remedies following the Touchstone data breach?

When customers decided to do business with Touchstone, they assumed the company would take their privacy concerns seriously. And it goes without saying that consumers would think twice about giving a company access to their information if they knew it wouldn’t be secure. Thus, data breaches such as this raise questions about the adequacy of a company’s data security system.

When a business, government entity, nonprofit, school, or other organization accepts and stores consumer data, it also accepts a legal obligation to ensure that this information is kept private. US data breach laws allow consumers to pursue civil data breach claims against organizations that fail to protect their information.

Of course, given the recentness of the Touchstone Medical Imaging data breach, the investigation into the incident is still in its early stages. And, at this time, there is no evidence yet to suggest that Touchstone is legally liable for the breach. However, that may change as more information about the breach and its causes comes to light.

If you have questions about your ability to bring a data breach class action lawsuit against Touchstone Medical Imaging, contact a data breach attorney as soon as possible.

What should you do if you receive a Touchstone Medical Imaging data breach notification?

If Touchstone Medical Imaging sends you a data breach notification letter, you are among those whose information was compromised in the recent breach. Although this is not the time to panic, the situation deserves your attention. Below are some important steps you can take to protect yourself against identity theft and other fraudulent activity:

  1. Identify compromised information: The first thing to do after becoming aware of a data breach is to carefully review the data breach letter sent. The letter will tell you what information about you was accessible to the unauthorized party. Be sure to make a copy of the letter and keep it for your records. If you’re having trouble understanding the letter or what steps you can take to protect yourself, a data breach attorney can help.

  2. Limit future access to your accounts: Once you’ve determined what information about you was affected by the breach, the safest game is to assume that the hacker who orchestrated the attack stole your data. Although this is not the case, prevention is better than cure. To prevent future access to your accounts, you must change all passwords and security questions for any online account. This includes online banking accounts, credit card accounts, online shopping accounts, and any other accounts that contain your personal information. You should also consider changing your social media account passwords and setting up multi-factor authentication where available.

  3. Protect your credit and financial accounts: After a data breach, companies often provide affected parties with free credit monitoring services. Signing up for free credit monitoring offers important protections and does not affect any of your rights to bring a data breach lawsuit against the company if it is found to be legally responsible for the violation. You should contact a credit bureau to request a copy of your credit file, even if you notice no signs of fraud or unauthorized activity. Adding a fraud alert to your account will provide you with additional protection.

  4. Consider implementing a credit freeze: A credit freeze prevents anyone from accessing your credit report. Credit freezes are free and remain in effect until you remove them. Once a credit freeze is in place, you can temporarily lift it if you need to apply for any type of credit. While freezing credit on your accounts may seem like overkill, given the risks involved, it’s warranted. According to the Identity Theft Resource Center (“ITRC”), freezing credit on your account is “the most effective way to prevent a new credit/financial account from being opened.” However, only 3% of data breach victims freeze their accounts.

  5. Monitor your credit report and financial accounts regularly: Protecting yourself following a data breach requires continuous effort on your part. You should regularly check your credit report and all financial account statements for any signs of unauthorized activity or fraud. You should also call your banks and credit card companies to report that your information has been compromised in a data breach.

‘Unprecedented growth’ puts Yukon in the dark with $39M budget surplus

The Yukon government has said a steadily growing economy will keep the territory in the dark this year, despite ongoing costs associated with the COVID-19 pandemic.

“Yukon’s economy is experiencing phenomenal growth that really sets it apart from the rest of Canada,” Premier Sandy Silver said as he presented his government’s latest budget — and the first since taking office last spring. — Thursday afternoon at the Legislative Assembly.

“Yukon is leading the country as we witness unprecedented population and economic growth in our territory.

The $1.97 billion budget projects a surplus this year of $39.5 million, with Silver touting the figure as evidence of his government’s “responsible fiscal management.”

Further budget surpluses are projected for the next two years, estimated at $73.5 million next year and $63.3 million the following year.

Capital spending this year will again set a new record at $546.5 million – a 26% increase over last year – with funding for renewable energy and renovations, new schools, health and wellness centers and community housing.

Operations and maintenance — the day-to-day expenditures of government — will account for $1.42 billion of the budget.

Highlights of spending this year include:

  • $60 million for housing, including community housing projects in Old Crow, Carcross, Dawson City, Watson Lake, Teslin and Whitehorse.
  • $25 million for the new Whistle Bend School in Whitehorse.
  • $1 million for the planning and design of the new Kluane Lake School at Burwash Landing.
  • $13 million for a health and wellness center in Old Crow.
  • $2.6 million for a new bilingual health center in Whitehorse.
  • $17.8 for the implementation of the Our Clean Future climate change plan.
  • $5.5 million to respond to the substance use health emergency.
  • $10.8 million to complete a psychiatric unit at the Whitehorse Hospital.
  • $3.3 million for the modernization of the territory’s health information system.
  • $1.7 million for flood mitigation and recovery.
  • $595,000 to support the Yukon First Nations Graves Investigation Committee.
  • $425,000 for a Pride Center operated by Queer Yukon.

The cost of the pandemic

Silver said Yukon’s economy has weathered the COVID-19 pandemic well, thanks in part to his government’s continued assistance to local businesses. He said more than 500 businesses had received more than $85 million in aid.

“Yukon’s economic support programs have been recognized as the best and most generous in the country and have avoided the most severe economic impacts of COVID-19,” he said.

A COVID-19 vaccination clinic in Whitehorse. (Mark Evans/CBC)

Officials say Yukon’s labor market has largely recovered from the hit it took at the start of the pandemic, with unemployment rates remaining low and workers now widely in demand. The tourism sector is also recovering, although more slowly than the labor market as a whole. It is expected to take a few more years before tourism returns to pre-pandemic levels.

There will be more public spending this year for the pandemic, although it is expected to be considerably lower than in 2020 and 2021.

The government is providing $27.4 million this year for pandemic responses, including:

  • $11.6 million for public health, including vaccines.
  • $4.9 million in assistance and recovery for businesses.
  • $2 million for pandemic management, school support and health system upgrades.
  • $10 million in contingency funds, to respond to changing circumstances.

As of this year, Yukon will have spent approximately $203.7 million on its COVID-19 response, just under half of which will be covered by the territorial government. Most of the others come from Ottawa.

Mining and economic growth

By far the Yukon government’s main source of revenue remains the money it receives from Ottawa in the form of transfer payments — up 5.2% this year to $1.24 billion. These payments are population-based and the increase reflects the territory’s rapid population growth.

Tax revenues are also up, up about 17.5% from last year, or about $23.5 million. A substantial part of this sum comes from the mining industry, through corporate income tax or quartz mining rights and licenses.

Yukon’s mining sector is “thriving,” Silver said, with three mines in operation and a number more in development. Mineral production is expected to hit a record $1.1 billion this year, and the premier said it is expected to stay above $1 billion each of the next four years.

He compared that to 2015, before his government took office, when the Yukon had just one operating mine and the territory was “bogged down in division and costly legal disputes that discouraged investment.” .

“We have built strong relationships with First Nations that have fostered reconciliation, and we have worked in partnership with industry to help restore investor confidence in the Yukon,” he said.

“The strong momentum in our economy is bolstering private sector confidence in the Yukon, which will continue to move us forward on the road to recovery.

46% of parents say their child used their credit or debit card without authorization, racking up more than $500 |


CHARLOTTE, North Carolina, March 3, 2022 /PRNewswire/ — Nearly half of parents (46%) say they’ve caught their kids secretly spending with their credit or debit cards without asking, according to a recent survey by LendingTree®, the country’s first online financial services marketplace. That’s up from the 29% of parents who said the same in 2018, when a similar survey was conducted. The ease of mobile payments, in-app purchases and one-click ordering can cause even the youngest children to create a dent in a family’s financial well-being.

Main findings

  • Six in 10 (60%) parents with children under 18 have let their children borrow their credit or debit cards to make purchases online, and almost half regret it. Fathers are more likely to share their cards with a child than mothers, but they are also more likely to regret doing so.
  • Nearly half (46%) of parents of minor children say that their child has used their card without authorization at least once. That’s a 59% increase from 2018, when 29% of parents reported secret spending.
  • Children who took their parents’ credit or debit cards without asking accumulated more than $500 on average. Widespread access to technological innovations could be a factor; the most common instances of children spending without permission include in-app or in-game purchases (28%), ordering food delivery (16%), and purchases made through voice-activated speakers (15%).
  • 1 in 4 parents had an argument with their child over money in the past month, and more than a third of arguments were about using a credit card without authorization. Taking money without asking was another source of frustration, at 25%. Fathers were more likely than mothers to argue with their child about money.
  • Children whose parents earn more than $100,000 are nearly 5 times more likely to be an authorized user on their guardian’s credit card than those whose parents earn less than $100,000. $35,000 (37% versus 8%). Authorized users have a head start in building a credit history (as long as the card is used responsibly), which could lead to better scores and lower interest rates down the road. to come up. Overall, 22% of parents say their minor child is an authorized user.

“Between in-app purchases and one-click ordering – especially in households where family members share devices and passwords – it’s become much easier to use someone’s card without permission from nowadays”, says Matt Schulz, chief credit analyst at LendingTree. “Then you take into account that a lot of us have been spending a lot more time indoors than usual staring at screens over the last couple of years, and it makes sense that kids have been using cards without authorization a little more than before.”

Kids and Credit Cards: Quick Tips

Building credit at an early age can be a smart move, provided card accounts are managed responsibly. Not all kids under 18 are mature enough to have a card in their name, notes Schulz, but there are steps you can take to make it easier for them in the world of credit.

  1. Start with a prepaid or debit card: Parents and guardians can monitor activity and use these cards as a starting point for important money management conversations.
  2. Make responsible teens an authorized user and keep an eye out. Most card issuers let you track your spending through apps, websites, text messages, and more. Take advantage of this technology, says Schulz. With a LendingTree Account, cardholders can track spending on multiple credit cards with unlimited access to credit scores and reports. Bonus tip: If you’re interested in building a child’s credit early, but don’t think they’re ready, you don’t have to give them the card, he adds.
  3. Take a credit 101 lesson with your teen. Explaining how credit behavior can impact their credit score and, therefore, their ability to get a car loan or an apartment in the future is so important, Schulz says.
  4. Look for maps suitable for beginners. Schulz recommends student credit cardswhich are available once children turn 18. secure card can also be useful because it minimizes the risks involved for everyone.

To see the full report, visit: https://www.lendingtree.com/credit-cards/study/kids-and-credit-cards-survey/.


LendingTree commissioned Qualtrics to conduct an online survey of 1,051 parents of children under 18, from January 11-14, 2022. The survey was administered using a non-probability sample and quotas were used to ensure that the base sample represented the overall population. All responses have been reviewed by researchers for quality control.

About LendingTree

LendingTree (NASDAQ: TREE) is the nation’s first online marketplace that connects consumers to the choices they need to make financial decisions with confidence. LendingTree enables consumers to purchase financial services the same way they would purchase airline tickets or hotel stays, by comparing multiple offers from a national network of over 500 partners in a single search, and can choose the option that best suits their financial needs. Services include mortgages, mortgage refinances, auto loans, personal loans, business loans, student loans, insurance, credit cards and more. Through the LendingTree platform, consumers receive free credit scores, credit monitoring, and recommendations to improve credit health. LendingTree proactively compares consumers’ credit accounts to offers from our network and notifies consumers when there is an opportunity to save money. In short, LendingTree’s goal is to help simplify financial decisions for life’s meaningful moments through choice, education and support. LendingTree, LLC is a subsidiary of LendingTree, Inc. For more information, visit www.lendingtree.comcall 800-555-TREE, like our Facebook page and/or follow us on Twitter @LendingTree


Morgan Lanier

[email protected]endingtreenews.com

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SOURCE LendingTree

9 Strategies for Financing Your Small Business


Running a small business or startup can be a rewarding endeavor, but it’s not without its challenges. For many aspiring entrepreneurs, the biggest hurdle to achieving their dreams of business ownership is obtaining financing. Even businesses that don’t need specialized equipment or workspace still have basic installation needs and resources.

Fortunately, there are plenty of options available for those who want to get the job done. Here are nine strategies for financing your small business and getting the best possible start.

Improve your credit score

Securing traditional forms of financing relies heavily on a solid credit history, which is summed up in your credit score. Depending on the type of business you’re starting and your legal structure, your personal credit score could be the key indicator of whether or not you get financing through traditional channels. The better your credit score, the more options you have.

It is important to note that having bad credit is not a deciding factor for financing. Many people with less than perfect credit Apply for Montana Capital Bad Credit Loans with great success. However, it is always worth focusing on targeted improvements.

Start by reviewing your credit report and reporting any negative items that affect your score. Things like collections, late payments, bankruptcy, and difficult inquiries (i.e. previous loan applications) can negatively impact your score. Use it as a guide to make strategic improvements. Dispute any negative items that no longer belong in your report and work to pay off your existing debts.

Create a financial plan

First and foremost, you need to create a financial plan. Whether you opt for a traditional loan or use your personal finances to finance your business, your financial plan will serve as a starting point. The exercise of developing a financial plan will also help you gain perspective on your business, encouraging you to research the costs involved for a more realistic idea of ​​the journey ahead.

A financial plan is usually contained as part of an overall business plan. This document should outline your operational costs, a proposed sales forecast, pricing, financial goals, and KPIs. It is essential to take your time with this process and include accurate data.

Your financial plan may not be set in stone. Once your business is up and running, you may determine that some items you thought you needed are unnecessary or some tools could revolutionize your business. However, most financial institutions require a realistic financial plan before approving financing.

Apply for local grant programs

Before applying for funding, research local grant programs to determine your eligibility. Many government and non-profit grants are available for entrepreneurs, often requiring nothing more than an application outlining your business plan, costs, goals, and passion for your project.

It should be noted that applying for grants can be time-consuming and competitive. You may also be required to match financing. However, it is worth exploring this option and determining if there are niche grant options to support your industry or personal identifiers, such as grants for minorities, veterans, or women.

Learn to start

Startup is an art in the business world, which relies on the business owner to save money and start without a budget. Steve Jobs and Steve Wozniak are legendary examples of bootstrappers who launched Apple in a garage.

Outside of developed countries, bootstrap is the norm. In regions rich in entrepreneurs like Latin America, bank loans and investors are hard to come by. These driven individuals personally fund their businesses, get creative with their guerrilla marketing efforts, and take their time to succeed.

Change your mindset from instant gratification to a mindset of hard work and dedication. Feed your networks, explore your low-cost options, and get started before you’re financially ready.

Try crowdsourcing

Crowdsourcing and social finance is an incredible innovation that not only helps secure funding, but effectively validates your business idea. The key to crowdsourcing is understanding your financial needs and asking for donations in exchange for an offer or pre-sale of your concept.

For example, let’s say you’re trying to start a sushi business in your neighborhood. You’ve organized a few pop-up events, created a business structure, and connected with the community. To make your business a reality, you need a food truck, so you crowdsource. You start a multi-level campaign where people offer money in exchange for a service to be provided at the end of the campaign. Lower level donors might receive a specialty sushi roll, while higher level donors will receive a tray. Over time, the financial goal is reached, the truck is purchased and the promises are kept.

Think about investors

Presenting your financial plan to investors is another option for obtaining financing. The advantage of this option is that you usually have access to a mentor who has industry experience and knowledge. The downside is that you give up some control of your business and have to accept comments and suggestions from others.

Finding investors can be difficult. As with crowdsourcing, validating your idea, calculating the numbers and nurturing your networks are essential to success.

Create a scaling plan

Scaling and startup go hand in hand. Many new entrepreneurs make the mistake of going big when starting their business. Creating a scaling plan will help you work within your resource limits without overstretching yourself when creating an expansion plan.

For example, if you are starting an ATV tour business, buying 10 new ATVs on day one would be a mistake. With scaling, you’d buy maybe five, then invest more once your bookings increase and you turn away customers.

Use barter

Never underestimate the power of bartering your services. For example, if you are a roofer and need your website for your new roofing business, you can offer this service in exchange for web development.

Bartering is a great way to connect with other small business owners and build word of mouth referrals.

Reinvest in your business

Finally, create a plan to reinvest in your business. Set a percentage of your profits that will go directly to the company to make improvements and extensions. For example, you can determine that 10% of your profits go directly to future marketing efforts to help you grow your business. As these marketing efforts pay off, that 10% will grow and create exponential value.

Through these strategies, you can fund your business in a variety of ways, conventional or otherwise. Take it easy and make a financial plan before you get started.

This article does not necessarily reflect the views of the editors or management of EconoTimes

Today’s Mortgage Rates Drop | March 2, 2022


Mortgage rates are down for the second day in a row. Borrowers considering buying a new home should expect to see interest rates on 30-year fixed rate mortgages averaging 4.299% today, down 0.102 percentage points from yesterday.

For homeowners considering refinancing their current home loan, the average 30-year loan rate is now 4.38%, down 0.104 percentage points.

  • The final rate on a 30-year fixed rate mortgage is 4.299%. ⇓
  • The final rate on a 15-year fixed rate mortgage is 3.323%. ⇓
  • The latest rate on a 5/1 ARM is 3.119%. ⇓
  • The last rate on a 7/1 ARM is 3.395%. ⇓
  • The latest rate on a 10/1 ARM is 3.477%. ⇓

Money’s daily mortgage rates reflect what a borrower with a 20% down payment and a credit score of 700 — roughly the national average score — could pay if he or she applied for a home loan right now. Each day’s rates are based on the average rate that 8,000 lenders offered applicants the previous business day. Freddie Mac weekly rates will generally be lower, as they measure the rates offered to borrowers with higher credit scores.

Are you looking for a loan? Check out Money’s lists of top mortgage lenders and top refinance lenders.

Today’s 30-Year Fixed Rate Mortgage Rates

  • The 30-year rate is 4.299%.
  • It’s a day offold by 0.102 percentage points.
  • It’s a month to augment by 0.257 percentage points.

The 30-year fixed-rate mortgage is attractive to most borrowers because its long repayment term and predictable interest rates result in lower monthly payments than a shorter-term loan. The downside is that the interest rate is usually higher, so you’ll pay more in the long run.

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Average mortgage rates

Data based on US mortgages closed March 1, 2022

Type of loan March 1 Last week Change
15-year fixed conventional 3.32% 3.53% 0.21%
30-year fixed conventional 4.3% 4.49% 0.19%
ARM rate 7/1 3.4% 3.52% 0.12%
ARM rate 10/1 3.48% 3.64% 0.16%

Your actual rate may vary

15 years today fixed rate mortgage rates

  • The rate over 15 years is 3.323%.
  • It’s a day offold by 0.104 percentage points.
  • It’s a month infold by 0.281 percentage point.

With a lower interest rate and shorter payback period, the 15-year fixed rate mortgage may be an attractive option for some borrowers, as overall costs won’t be as high compared to a longer mortgage. long term. However, the shorter term also means that the monthly payments will be higher.

The latest rates of adjustable rate mortgages

  • The latest rate on a 5/1 ARM is 3.119%. ⇓
  • The last rate on a 7/1 ARM is 3.395%. ⇓
  • The latest rate on a 10/1 ARM is 3.477%. ⇓

Borrowers who don’t plan to keep the home for the long term may find adjustable rate mortgages a convenient option. The initial interest rate is low and fixed for the first few years before it starts resetting regularly. A 5/1 ARM, for example, will have a fixed rate for five years and then change every year. The downside is that the rate could increase significantly after it becomes adjustable.

The Latest VA, FHA, and Jumbo Loan Rates

The average rates for FHA, VA, and jumbo loans are:

  • The rate on a 30-year FHA mortgage is 3.955%. ⇓
  • The rate for a 30-year VA mortgage is 4.32%. ⇓
  • The rate for a 30-year jumbo mortgage is 3.853%. ⇓

The latest mortgage refinance rates

The average refinance rates for 30-year loans, 15-year loans and ARMs are:

  • The refinance rate on a 30-year fixed rate refinance is 4.38%. ⇓
  • The refinance rate on a 15-year fixed rate refinance is 3.404%. ⇓
  • The rollover rate on a 5/1 ARM is 3.169%. ⇓
  • The refinance rate on a 7/1 ARM is 3.446%. ⇓
  • The refinance rate on a 10/1 ARM is 3.535%. ⇓
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Average Mortgage Refinance Rates

Data based on US mortgages closed March 1, 2022

Type of loan March 1 Last week Change
15-year fixed conventional 3.4% 3.62% 0.22%
30-year fixed conventional 4.38% 4.57% 0.19%
ARM rate 7/1 3.45% 3.59% 0.14%
ARM rate 10/1 3.54% 3.72% 0.18%

Your actual rate may vary

Where are mortgage rates going this year?

Mortgage rates have fallen through 2020. Millions of homeowners have responded to low mortgage rates by refinancing existing loans and taking out new ones. Many people bought homes they might not have been able to afford if rates were higher. In January 2021, rates briefly fell to lowest levels on record, but rose slightly for the rest of the year.

Looking ahead, experts believe that interest rates will rise further in 2022, but also modestly. Factors that could affect rates include continued economic improvement and further labor market gains. The Federal Reserve has also started to scale back its purchases of mortgage-backed securities and said it plans to raise the federal funds rate three times in 2022 to combat rising inflation from March.

While mortgage rates are likely to rise, experts say the increase won’t happen overnight and it won’t be a dramatic jump. Rates are expected to remain near historic lows throughout the first half of the year, rising slightly later in the year. Even with rising rates, it will still be a good time to finance a new home or refinance a mortgage.

Factors that influence mortgage rates include:

  • The Federal Reserve. The Fed acted quickly when the pandemic hit the United States in March 2020. The Fed announced its intention to keep money flowing in the economy by lowering the Federal Fund short-term interest rate between 0% and 0.25%, which is also low as you go. The central bank also pledged to buy mortgage-backed securities and treasury bills, supporting the housing finance market, but began to scale back those purchases in November.
  • The 10-year Treasury bond. Mortgage rates keep pace with government 10-year Treasury bond yields. Yields first fell below 1% in March 2020 and have since risen. On average, there is typically a 1.8 point “spread” between Treasury yields and benchmark mortgage rates.
  • The wider economy. Unemployment rates and changes in gross domestic product are important indicators of the overall health of the economy. When employment and GDP growth are weak, it means the economy is weak, which can lower interest rates. Thanks to the pandemic, unemployment levels reached historic highs early last year and have yet to recover. GDP has also taken a hit, and although it has rebounded somewhat, there is still plenty of room for improvement.

Tips for getting the lowest possible mortgage rate

There is no universal mortgage rate that all borrowers receive. Qualifying for the lowest mortgage rates takes some work and will depend on both personal financial factors and market conditions.

Check your credit score and your credit report. Mistakes or other red flags can lower your credit score. Borrowers with the highest credit scores are the ones who will get the best rates, so it’s essential to check your credit report before you begin the home hunting process. Taking steps to correct mistakes will help increase your score. If you have high credit card balances, paying them off can also give you a quick boost.

Save money for a large down payment. This will lower your loan-to-value ratio, which is the share of the house price that the lender has to finance. A lower LTV usually translates to a lower mortgage rate. Lenders also like to see money that has been saved in an account for at least 60 days. It tells the lender that you have the money to finance the home purchase.

Shop around for the best rate. Don’t settle for the first interest rate a lender offers you. Check with at least three different lenders to see who offers the lowest interest rate. Also consider different types of lenders, such as credit unions and online lenders in addition to traditional banks.

Also, take the time to learn about the different types of loans. Although the 30-year fixed rate mortgage is the most common type of mortgage, consider a shorter-term loan such as a 15-year mortgage or an adjustable rate mortgage. These types of loans often come with a lower rate than a conventional 30-year mortgage. Compare the costs of all to see which best suits your needs and financial situation. Government loans — such as those backed by the Federal Housing Authority, Department of Veterans Affairs, and Department of Agriculture — may be more affordable options for those who qualify.

Finally, lock in your rate. Locking in your rate once you’ve found the right rate, the right loan product, and the right lender will help ensure that your mortgage rate doesn’t increase until the loan is closed.

Our mortgage rate methodology

Money’s Daily Mortgage Rates show the average rate offered by more than 8,000 lenders across the United States for which the most recent rates are available. Today we are posting rates for Tuesday, March 1, 2022. Our rates reflect what a typical borrower with a credit score of 700 might expect to pay for a home loan right now. These rates were offered to people depositing 20% ​​deposit and include discount points.

More money :

Fracking Fluids and Chemicals Market to Gain Substantial Traction till 2028

Global Fracking Fluids and Chemicals Market Overview:

The global Fracking Fluids and Chemicals Market presents insights on current and future industry trends, enabling readers to identify the products and services, thereby driving revenue growth and profitability. The research report provides a detailed analysis of all major factors impacting the market on a global and regional scale, including drivers, restraints, threats, challenges, opportunities, and trends specific to industry. Additionally, the report cites global certainties and endorsements along with downstream and upstream analysis of key players. The research report offers the base year 2021 and the forecast between 2022 and 2028.

This report covers all recent developments and changes recorded during the COVID-19 outbreak.

This Fracking Fluids and Chemicals Market report aims to equip all participants and vendors with all the details about the growth factors, gaps, threats and profitable opportunities that the market will present in the near future. The report also presents the revenue share, industry size, production volume, and consumption to gain insight into the policy to challenge to gain control of a large portion of the market share.

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Top Key Players of Fracking Fluids and Chemicals Market:
Baker Hughes, Ashland, Halliburton, Schlumberger, Weatherford International, AkzoNobel, BASF SE, The Dow Chemical Company, Chevron Phillips Chemical, Clariant, Exxon Mobil Corporation, FTS International, Albemarle, Calfrac Well Services

The Fracking Fluids and Chemicals Industry is severely competitive and fragmented owing to the existence of various established players taking part in different marketing strategies to increase their market share. The vendors operating in the market are profiled based on price, quality, brand, product differentiation, and product portfolio. Suppliers are increasingly focusing on personalizing products through interaction with customers.

The main types of fracturing fluids and chemicals covered are:
Oil gel based

Major End-User Applications for Fracturing Fluids and Chemicals Market:
oil recovery
Shale gas

Regional Analysis for Fracking Fluids and Chemicals Market

North America (United States, Canada and Mexico)
Europe (Germany, France, United Kingdom, Russia and Italy)
Asia Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, United Arab Emirates, Egypt, Nigeria and South Africa)

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Brits slow credit card spending and boost savings – for now | Borrowing & debt


Credit card borrowing and short-term lending slowed in January to its lowest growth rate since September 2021, with the Omicron variant discouraging consumers from venturing into shops, restaurants and bars.

Data of the Bank of England showed a net increase of £600m in consumer loans in January, down from an increase of £800m in December and £1.2bn in November.

Separate figures covering savings showed households deposited £7.7bn in January, up from £2.7bn in December, to underscore the return to a low spending, high saving pattern observed during much of the pandemic.

Debt charities said a worsening cost-of-living crisis after food and fuel bills soared was likely to push consumer credit higher in the spring.

Richard Lane, director of external affairs at debt charity StepChange, said: “The coming months look sobering in terms of pressures on UK household finances, with the known rises in National Insurance and Energy prices further exacerbated now by all the uncertainty in the geopolitical environment.

Joanna Elson, chief executive of Money Advice Trust, which manages National debt linesaid: “With food and fuel prices continuing to rise and energy costs set to soar, we fear that many more people will be put in hardship in the months to come.

She criticized the Government’s plans to offset rising bills with a £150 council tax bill rebate in April and a £200 loan in October as inadequate, adding that the Chancellor, Rishi Sunak, should “significantly increase benefits and increase assistance through the warm house rebate. ”.

Thomas Pugh, economist at accountants RSM UK, said the easing of Covid restrictions in February would combine with rising costs to drive up spending on credit cards and loans.

“As Omicron pulls away in the rearview mirror and the economy fully reopens, borrowing should rise and savings rates fall, which will help support spending in the face of soaring inflation,” a- he declared.

He said the average household was in a much better position than before the pandemic, although many of the poorest households were struggling. The data showed around £25bn of consumer credit has been paid off over the past two years, while £225bn of excess savings has been accumulated.

“Normally, a rise in consumer credit is a good indication that consumption is growing strongly because it tends to expand when the economy is doing well. People feel confident enough to borrow and splurge on big-ticket items, like cars,” he said.

“This time may be different, however. An increase in consumer borrowing over the next year is more likely to be a sign that high inflation is pushing consumers to maintain their borrowing lifestyle.

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Mortgage numbers beat expectations, with a nearly 50% month-over-month increase in mortgages in January.

Loans and approvals remained high above pre-pandemic norms, said Karl Thompson, an economist at consultancy Cebr, after net mortgage borrowing rose nearly 50% from £4bn revised up in December to £5.9bn in January.

The threat of an interest rate hike from the Bank of England was seen as one of the drivers of the surge in borrowing, coupled with a tight lending market, with banks and building societies slashing offers to fixed rate.

Lower Mortgage Rates Today | March 1, 2022


Mortgage rates are lower today with some types of loans down significantly.

New borrowers looking for a 30-year fixed rate mortgage will see rates averaging 4.401%, down 0.117 percentage points from yesterday. The biggest factor was the average rate on a VA loan, which fell 0.515 percentage points to 4.345%.

Refinancers should also see lower rates today. The 30-year refi averages 4.484%, down 0.118 percentage points.

  • The last rate on a 30-year fixed rate mortgage is 4.401%. ⇓
  • The last rate on a 15-year fixed rate mortgage is 3.449%. ⇓
  • The latest rate on a 5/1 ARM is 3.236%. ⇓
  • The latest rate on a 7/1 ARM is 3.519%. ⇓
  • The latest rate on a 10/1 ARM is 3.631%. ⇓

Money’s daily mortgage rates reflect what a borrower with a 20% down payment and a credit score of 700 — roughly the national average score — could pay if he or she applied for a home loan right now. Each day’s rates are based on the average rate that 8,000 lenders offered applicants the previous business day. Freddie Mac’s weekly rates will generally be lower, as they measure the rates offered to borrowers with higher credit scores.

Are you looking for a loan? Check out Money’s lists of top mortgage lenders and top refinance lenders.

Today’s 30-Year Fixed Rate Mortgage Rates

  • The 30-year rate is 4.401%.
  • It’s a day offold by 0.117 percentage points.
  • It’s a month to augment by 0.36 percentage point.

Most borrowers opt for a 30-year fixed rate mortgage. The fixed interest rate and long payback period result in stable and relatively low monthly payments. Compared to a shorter-term loan, however, the interest rate is higher, making the 30-year loan the most expensive in the long run.

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Average mortgage rates

Data based on US mortgages closed on February 28, 2022

Type of loan February 28 Last week Change
15-year fixed conventional 3.45% 3.53% 0.08%
30-year fixed conventional 4.4% 4.49% 0.09%
ARM rate 7/1 3.52% 3.52% 0.0%
ARM rate 10/1 3.63% 3.64% 0.01%

Your actual rate may vary

15 years today fixed rate mortgage rates

  • The 15-year rate is 3.449%.
  • It’s a day offold by 0.106 percentage points.
  • It’s a month infold by 0.389 percentage points.

The 15-year fixed rate loan is preferred by some because the interest rate is lower than on a 30-year loan and they will pay it off faster, making it cheaper over the term. The downside is that fewer months to repay the loan means the monthly payments will be higher and won’t suit all budgets.

The latest rates of adjustable rate mortgages

  • The latest rate on a 5/1 ARM is 3.236%. ⇓
  • The latest rate on a 7/1 ARM is 3.519%. ⇓
  • The latest rate on a 10/1 ARM is 3.631%. ⇓

For some borrowers, an adjustable rate mortgage might be a good option. The interest rate will be fixed for the first few years, then adjusted at regular intervals. The rate on a 5/1 adjustable rate loan, for example, is fixed for five years and then adjusts each year thereafter. Although the initial fixed rate is usually very low, the risk is that it may increase once the loan begins to adjust.

The Latest VA, FHA, and Jumbo Loan Rates

The average rates for FHA, VA, and jumbo loans are:

  • The rate on a 30-year FHA mortgage is 4.089%. ⇓
  • The rate for a 30-year VA mortgage is 4.345%. ⇓
  • The rate for a 30-year jumbo mortgage is 3.978%. ⇔

The latest mortgage refinance rates

The average refinance rates for 30-year loans, 15-year loans and ARMs are:

  • The refinance rate on a 30-year fixed rate refinance is 4.484%. ⇓
  • The refinance rate on a 15-year fixed rate refinance is 3.522%. ⇓
  • The rollover rate on a 5/1 ARM is 3.286%. ⇓
  • The refinance rate on a 7/1 ARM is 3.593%. ⇓
  • The refinance rate on a 10/1 ARM is 3.722%. ⇓
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Average Mortgage Refinance Rates

Data based on US mortgages closed on February 28, 2022

Type of loan February 28 Last week Change
15-year fixed conventional 3.52% 3.62% 0.1%
30-year fixed conventional 4.48% 4.57% 0.09%
ARM rate 7/1 3.59% 3.59% 0.0%
ARM rate 10/1 3.72% 3.72% 0.0%

Your actual rate may vary

Where are mortgage rates going this year?

Mortgage rates have fallen through 2020. Millions of homeowners have responded to low mortgage rates by refinancing existing loans and taking out new ones. Many people bought homes they might not have been able to afford if rates were higher. In January 2021, rates briefly dipped to the lowest levels on record, but rose slightly for the rest of the year.

Looking ahead, experts believe that interest rates will rise further in 2022, but also modestly. Factors that could affect rates include continued economic improvement and further labor market gains. The Federal Reserve has also started to scale back its purchases of mortgage-backed securities and said it plans to raise the federal funds rate three times in 2022 to combat rising inflation from March.

While mortgage rates are likely to rise, experts say the increase won’t happen overnight and it won’t be a dramatic jump. Rates are expected to remain near historic lows throughout the first half of the year, rising slightly later in the year. Even with rising rates, it will still be a good time to finance a new home or refinance a mortgage.

Factors that influence mortgage rates include:

  • The Federal Reserve. The Fed acted quickly when the pandemic hit the United States in March 2020. The Fed announced its intention to keep money flowing in the economy by lowering the Federal Fund short-term interest rate between 0% and 0.25%, which is also low as you go. The central bank also pledged to buy mortgage-backed securities and treasury bills, supporting the housing finance market, but began to scale back those purchases in November.
  • The 10-year Treasury bond. Mortgage rates keep pace with government 10-year Treasury bond yields. Yields first fell below 1% in March 2020 and have since risen. On average, there is typically a 1.8 point “spread” between Treasury yields and benchmark mortgage rates.
  • The wider economy. Unemployment rates and changes in gross domestic product are important indicators of the overall health of the economy. When employment and GDP growth are weak, it means the economy is weak, which can lower interest rates. Thanks to the pandemic, unemployment levels reached historic highs early last year and have yet to recover. GDP has also taken a hit, and although it has rebounded somewhat, there is still plenty of room for improvement.

Tips for getting the lowest possible mortgage rate

There is no universal mortgage rate that all borrowers receive. Qualifying for the lowest mortgage rates takes some work and will depend on both personal financial factors and market conditions.

Check your credit score and your credit report. Mistakes or other red flags can lower your credit score. Borrowers with the highest credit scores are the ones who will get the best rates, so it’s essential to check your credit report before you begin the home hunting process. Taking steps to correct mistakes will help increase your score. If you have high credit card balances, paying them off can also give you a quick boost.

Save money for a large down payment. This will lower your loan-to-value ratio, which is the share of the house price that the lender has to finance. A lower LTV usually translates to a lower mortgage rate. Lenders also like to see money that has been saved in an account for at least 60 days. It tells the lender that you have the money to finance the home purchase.

Shop around for the best rate. Don’t settle for the first interest rate a lender offers you. Check with at least three different lenders to see who offers the lowest interest rate. Also consider different types of lenders, such as credit unions and online lenders in addition to traditional banks.

Also, take the time to learn about the different types of loans. Although the 30-year fixed rate mortgage is the most common type of mortgage, consider a shorter-term loan such as a 15-year mortgage or an adjustable rate mortgage. These types of loans often come with a lower rate than a conventional 30-year mortgage. Compare the costs of all to see which best suits your needs and financial situation. Government loans — such as those backed by the Federal Housing Authority, Department of Veterans Affairs, and Department of Agriculture — may be more affordable options for those who qualify.

Finally, lock in your rate. Locking in your rate once you’ve found the right rate, the right loan product, and the right lender will help ensure that your mortgage rate doesn’t increase before the loan is closed.

Our mortgage rate methodology

Money’s Daily Mortgage Rates show the average rate offered by more than 8,000 lenders across the United States for which the most recent rates are available. Today we are posting rates for Monday, March 1, 2022. Our rates reflect what a typical borrower with a credit score of 700 might expect to pay for a home loan right now. These rates were offered to people depositing 20% ​​deposit and include discount points.

More money :

Student loan companies with a quick version of the co-signer


Co-signer release is a program that allows a borrower to remove a co-signer from their student loan account after meeting certain requirements. This usually involves making a minimum number of consecutive payments on time and meeting the lender’s eligibility criteria to maintain the loan on its own.

A quick co-signer release can be a big draw for students who initially need to take out a loan with their parent. Here’s what you need to know about the lenders that offer the fastest path to cosigner release.

4 Companies That Offer Quick Release Co-Signers

If you are considering applying for a private student loan to help pay for your education, getting a co-signer can help improve your chances of being approved and securing favorable terms, but many students will want to release the co-signer once ‘they will have financial independence.

Here are four companies that let you delete a co-signer in two years or less.

Sally Mae

Sallie Mae offers undergraduate loans, vocational training loans, and a long list of graduate loans.

With a Sallie Mae loan, you can release a co-signer after 12 consecutive on-time monthly payments, including principal and interest – one of the fastest co-signer releases in the industry. Other requirements include:

  • You have graduated or completed your certificate program.
  • You are the age of majority in your state.
  • You are a US citizen or permanent resident.

You will also need to provide proof of income and undergo a credit check, which is similar to what you would do if you were to apply for a new loan.


CommonBond offers both private student loans and student refinance loans. Options include undergraduate loans, graduate loans, MBA loans, medical loans, and dental loans.

The lender’s co-signer release program requires 24 consecutive on-time monthly payments of principal and interest for school loans and 36 monthly payments for its refinance loans. There are only three other requirements:

  • You must have graduated from the study program for which you took out the loan.
  • You must be at least the age of majority in your state.
  • You will need to undergo a credit check based on the lender’s current underwriting criteria.


SoFi was the first financial institution to offer student loan refinancing, but it also offers a variety of private student loans, including undergraduate loans, graduate loans, law school loans, MBA loans, and loans to parents. Co-signer release is only available for private student loans.

If you have SoFi private student loans, you may be able to request a co-signer release if they were disbursed after May 1, 2019. Any loans disbursed before this date are not eligible.

To qualify, you must make 24 consecutive principal and interest payments on time. You must also be the age of majority in your state and meet the lender’s underwriting criteria.


The Rhode Island Student Loan Authority offers undergraduate loans, graduate loans, parent loans, and refinance loans nationwide. Although not available on refinance loans, RISLA offers a co-signer release after 24 consecutive monthly payments on time on its private loans.

Unlike other lenders, RISLA is transparent about what it takes to get co-signer release approval. Eligibility requirements include:

  • You are at least 18 years old.
  • You are a US citizen or permanent resident.
  • You earn at least $40,000 per year.
  • Your FICO credit score is 680 or higher.
  • Your debt to income ratio is 50% or less.
  • You have enough cash in checking, savings and investment accounts to cover at least one month of your financial obligations, and this balance has been on deposit for 30 days or more.
  • You have never been enrolled in RISLA’s income-based reimbursement program.
  • You don’t live in Colorado, Connecticut or Maine.

How to release a student loan co-signer

The process for applying for a co-signer release varies by lender. In some cases, you may need to complete a paper application and upload it to your online account or mail it to the lending institution. In others, you may be able to apply through your online account.

Because there’s no one way to do this with every lender, check with yours directly to find out what the process is like, including where you can find the application, what information and documents you need to provide, and how much the process takes from start to finish.

What should you do if you can’t release a student loan co-signer?

The student loan co-signer release can help your co-signer by removing balance and payment information from their credit report. This can make it easier for them to get approved for credit, reduce their debt-to-equity ratio, and also avoid any potential negative consequences if you can’t make your payments in the future.

But co-signer release may not be possible for some borrowers or with all lenders. If releasing the co-signer is not an option, here are two options to consider:

  • Work on improving your credit: If you’ve been turned down because you don’t meet the underwriting criteria, work on building your credit history so you can be approved the next time you apply. In some cases, you may also need to increase your income or meet other conditions to be approved. Check with your lender to find out the reasons for the denial and take immediate action.
  • Refinance the loan: If your lender doesn’t offer a co-signer release at all, you may be able to refinance the loan in your own name. Credit underwriting requirements may vary from lender to lender. It is therefore possible to obtain a new loan from a lender whose eligibility criteria are less strict. Just be sure to pay attention to the interest rate and repayment term. If it ends up costing more, it may be worth waiting until your credit situation improves.

There’s no right approach for everyone in this situation, so think carefully about your needs and those of your co-signer before deciding how to proceed.

Learn more:

3 very bold second-half predictions for the Toronto Raptors


TORONTO, ON – FEBRUARY 01: Gary Trent Jr. #33 of the Toronto Raptors (Photo by Cole Burston/Getty Images)

The Toronto Raptors started the second half in the worst possible way after two blowouts on the road, but that’s no reason to be overly pessimistic about their long-term prospects. The team is still positioned to participate in the qualifying tournament.

The club will have to overcome a hobbled Fred VanVleet and yet another potential extended absence for OG Anunoby, but they have enough scoring and star power to potentially fend off some of the more aggressive suitors around them in the East.

The Raptors could face long odds when it comes to making a deep run in the playoffs, but they shouldn’t be discouraged given how many people at the start of the year were expecting the they get mired in the lottery again. They could start another hot streak, provided they manage to secure a decisive victory in the coming days.

If Toronto can get back into the groove and play like they did on their eight-game winning streak, those three very bold predictions could come true. Are they unlikely? May be. Are they within the realm of possibility if Toronto gets hot? Without a doubt.

3 very bold Toronto Raptors predictions for the second half.

3. Gary Trent Jr. will average 22 points per game.

Trent’s defensive improvement has been nothing short of amazing this season, but he’ll be more valuable to this team as a shooter in the coming weeks. Trent is coming off what was arguably the best offensive streak of his career in late January and early February.

Between January 25 and February 16, Trent averaged 25.0 points per game while making 46% of his 3-pointers on just under 10 attempts per game. Trent had seven games with at least 30 points (including five straight) and a burst of 42 points two points off his career high.

Gary Trent Jr. will be important to the Toronto Raptors.

Trent started the second half with just 21 points overall against Charlotte and Atlanta, but that can be attributed to a certain general streak that could soon swing the other way. With Anunoby on the mend, expect the Raptors to rely on Trent for a substantial portion of their 3-point shooting production.

VanVleet clearly isn’t himself, and the only player in a lineup without Anunoby the Raptors can trust to take on so much of the responsibility from 3-point range is Trent. This plan could lead to a high volume of triples that inflate the young guard’s scoring averages.

Credit card user? 5 disciplines you can ignore in an emergency


For some people, credit cards are the only financial support they have left in an emergency. It is not always possible to be disciplined in a financial crisis.

Discipline is what we are taught from day one when it comes to making good use of our credit cards. Credit cards are our financial friends, and we can use them according to our situations and circumstances. For some people, credit cards are the only financial support they have left in an emergency. It is not always possible to be disciplined in a financial crisis.

Here are some credit card disciplines you can ignore in an emergency.

Pay more than the minimum amount due

Credit card companies give you the option of paying the minimum amount due or more than that by the due date. Failure to pay an amount equal to or greater than the minimum amount due by the due date may result in penalty charges by the card company. The minimum amount due consists of interest on the unpaid amount and a small amount towards the principal part. Often the minimum amount due is 5% of the total outstanding invoice, but this can vary from company to company. So if you make a habit of only paying the minimum amount due each month, it will take you a long time to clear credit card debt.

However, only paying the minimum amount due during an emergency can help you focus on things that are much higher on your list of priorities. In a normal situation, your priority might be to pay the credit card bill in full; however, in an emergency, the priority may shift to things like paying for groceries, medications, etc. Paying only the minimum amount due on your card can provide temporary relief and help you avoid penalties. Also, banks will not classify your payment as a default. You can aggressively pay off your outstanding credit card amount once you get out of the emergency and after you regain financial comfort.

Not exceed 30% of the level of the credit utilization ratio

It is generally recommended that a credit card user keep the Credit Utilization Rate (CUR) below 30% for a better credit score. This can lead to a negative credit score if the card user often exhausts the card limit, resulting in a high CUR. It is important to note here that exceeding the credit utilization ratio from time to time does not have an immediate impact on the credit rating. So if you are in an emergency situation and you have no other option to pay for essential expenses such as groceries, house rent, etc., then you can exceed the 30% CUR . Once your financial situation improves, you can lower the CUR, and gradually your credit score will also improve. If you think your liquidity situation won’t improve soon, you can look to expand your credit options. You can ask your existing credit card company to increase the spending limit, or you can apply for new credit cards. Increasing credit options and spreading your spending across different credit instruments can help bring the CUR down below the 30% level.

READ ALSO | Banks are raising FD rates: Tips for seniors to maximize investment returns

Do not withdraw money from your credit cards

Besides swiping a credit card at malls or buying things online, you can also use your credit card to withdraw cash. It gives you instant access to cash when you manage some sort of fund. It’s like your contingency fund to deal with a serious emergency like paying the hospital bill or buying medicine.

Ideally it is advisable to use this option only when you really need the money, but in an emergency we can use this option and withdraw money according to the credit card limit. After getting out of your emergency, you can plan ways to pay off credit card debt quickly to avoid high interest payments. This is because interest on cash withdrawals applies immediately, without the normal interest-free period for other types of credit card transactions.

Do not convert reward points to cash

Credit card companies offer lucrative options to redeem reward points when you use them for things like booking travel tickets, hotel rooms, and more. However, if you redeem the reward points for cash, you may not get the best value. . So generally it’s not a good idea to convert reward points to cash. However, in times of financial stress, you cannot think of going on vacation. So here you can skip the normal guidelines and convert points to cash if that helps.

Don’t Stress Your Credit Score

Paying your credit card bill late, running out of credit limit, applying for too many credit cards, etc. can put a strain on your credit score. Credit score is very important, but it shouldn’t stop you from accessing credit when you need it most. Thus, you should give priority to paying the medical bill, etc. rather than maintaining a high credit score when you’re in deep financial crisis. You can rebuild the credit score in the future when you regain your financial strength.

A rule of thumb is that you must be very careful before knowingly breaking these credit card disciplines. Try not to go overboard and re-establish credit card disciplines as soon as things improve.

(The author is CEO, BankBazaar.com)

Understanding Your Credit Score: What Makes Up Your FICO Score


By SociallyIn, Sponsored Content

Your credit score plays an important role in your financial situation. It can affect your ability to get credit cards, rent an apartment, qualify for a mortgage, or even find a job. Your FICO score is made up of five different factors: payment history, amount of debt, length of credit history, new credit accounts, and types of credit used.

In this 2nd article in our series on credit repair, we will discuss each of these factors in detail and explain how you can improve your credit score!

What is a credit score?

Your credit score is a three-digit number that reflects your creditworthiness. It’s based on information in your credit report, which is a record of your borrowing and repayment history. Lenders use your credit score to decide whether to lend you money and at what interest rate.

Factors That Influence Your FICO Score

FICO scores are determined on the following five factors:

Factor #1: Payment History

Payment history is at the top of the list for a reason. This is the most important factor that determines FICO scores. It represents 35% of your credit score and includes all of your credit accounts, whether you paid on time or not. Late payments can stay on your credit report for up to seven years!

If you’ve missed a few payments in the past, don’t worry! You can always improve your score by catching up on your payments and maintaining a good payment history in the future.

Factor #2: Amount of Debt

The amount of your debt also plays a big role in how low or high your FICO score is. It represents 30% of your credit score and includes both your total credit limit and the amount you owe on your credit cards.

If you have a lot of debt, try to pay it off as quickly as possible. You should also avoid opening new credit card accounts if you’re having trouble making payments on your current accounts.

Factor #3: Length of Credit History

Next is the length of your credit history. It represents 15% of your FICO score and includes the age of all your credit accounts and how often you used them.

You can improve your score by keeping an old credit account and using it frequently. Just be sure to pay the full balance each month. You can also establish a good credit history by opening new accounts and using them responsibly.

Factor #4: New Credit Accounts

The fourth most important factor in your FICO score is new credit accounts. It represents ten percent of your score and includes the number of new credit accounts you have opened recently.

If you’re considering opening a new credit account, be sure to do so responsibly. Don’t ask for too many cards at once and make sure you can afford to pay off the debt.

Fifth factor: Types of credit used

The fifth most important factor in your FICO score is the type of credit used. It represents ten percent of your score and includes both installment loans and revolving lines of credit.

You can improve your score by using a variety of different types of credit products. This shows lenders that you can manage different types of debt responsibly.

The two types of debt that affect FICO scores

Photo courtesy of SociallyIn

In general, credit files contain two types of debt: installment credit and revolving credit.

Installment debt is a loan that you repay in fixed monthly installments over a predetermined period of time. An example of an installment loan would be a car loan or a mortgage.

Revolving credit is a line of credit that allows you to borrow up to a certain limit and then pay off the balance over time. Credit cards are the most common type of revolving credit.

Types of accounts that affect credit scores

There are five types of credit accounts that can affect your FICO score:

  • Credit card
  • Mortgages
  • Student loans
  • Car loans
  • Personal loans

Credit card

A credit card is a type of revolving line of credit. It lets you borrow money up to your limit, and you have to pay it back every month. Credit cards are considered high-risk loans, so they usually have a higher interest rate than other types of loans.


A mortgage is a type of installment loan. It is a loan used to purchase a house or property. Mortgages generally have a lower interest rate than other types of loans and longer repayment terms.

Student loans

Photo courtesy of SociallyIn

A student loan is a type of installment loan. This is a loan used to pay educational costs, such as tuition and books. Student loans generally have a lower interest rate than other types of loans and longer repayment terms.

Car loans

A car loan is a type of installment loan. This is a loan used to purchase a car or vehicle. Car loans generally have a lower interest rate than other types of loans and repayment terms are shorter.

Personal loans

A personal loan is a type of unsecured loan. It is a loan that does not require any collateral, such as a house or a car. Personal loans generally have a higher interest rate than other types of loans and repayment terms are shorter.

What can damage your FICO score?

There are several things that can damage your FICO score. Let’s discuss each below.

  • Missed Payments – Missed payments are one of the biggest things that can hurt your credit score. If you miss a payment on a loan or credit card, it will negatively affect your score.
  • High Debt Levels – Another thing that can hurt your credit score is high debt levels. If you have too much debt relative to your available credit, it will lower your score.
  • Too Many New Accounts – Another thing that can hurt your score is opening too many new accounts in a short time. This tricks lenders into believing that you are in desperate need of credit and may be a riskier borrower.
  • Credit Usage – The fifth thing that affects your FICO score is the amount of available credit you use. If you use a lot of your available credit, it will lower your credit score.
  • Default Accounts – If you have an account in default, it will hurt your credit score. A default account is an account where you have not made a payment for at least 90 days. Examples of these are foreclosure, bankruptcy, repossession, write-offs and settled accounts.

How to improve your credit score

There are five ways to improve your credit score:

  • Pay your bills on time – The easiest way to improve your credit score is to simply pay your bills on time. This shows lenders that you are responsible and that you can manage your debts responsibly.
  • Keep your debt level low – Another easy way to improve your score is to keep your debt level low. Try not to borrow more money than you can afford to pay back each month.
  • Don’t open too many new accounts at once – Another thing you can do to improve your score is don’t open too many new accounts at once. Lenders may see this as a sign of financial instability.
  • Use less of your available credit – The fourth thing you can do to improve your score is to use less of your available credit. Try not to use more than 30% of your total limit, and even less if you can.
  • Have a good credit history – The fifth and final way to improve your score is to have a good credit history. This means always paying your bills on time and not borrowing more money than you can afford to repay.
  • Pay any outstanding balance – Another way to improve your credit score is to pay any outstanding balance. This will show lenders that you are serious about improving your credit and are ready to act.
  • Dispute errors on your credit report – Finally, if you think there are errors on your credit report, you can dispute them. This will help improve your score because it shows lenders that you are taking steps to improve your credit.

This webinar provides a more in-depth look at credit repair than we have time to cover today, so you might want to check it out for a little more information on specific steps you can take yourself. same :

Your FICO credit score reflects your overall risk as a borrower. Lenders consider all five factors when making their decision, so it’s important to understand them all! This makes credit score checking an important task that you as a borrower should pay attention to. By understanding how your score is calculated, you can take steps to achieve a good credit score and make your life easier financially. Thanks for reading and stay tuned for future articles in our credit repair series!

Kiplinger Personal Finances: Why You Should Put Your Credit Reports on Ice | Economic news


Freezing credit is the most effective way to prevent certain types of identity theft.

When your credit report is frozen, lenders cannot view it in response to an application for new credit, so a criminal trying to open a loan or credit card in your name is unlikely to to succeed.

The case for protecting your identity is stronger than ever, as the number of data breaches hit an all-time high in 2021, according to the Identity Theft Resource Center.

But many consumers are dragging their feet. Although more than three-quarters of respondents to an Identity Theft Resource Center survey said they were familiar with credit freezes, only 29% had ever placed one.

Reasons they cited for not using a credit freeze included lack of need and confusion or difficulty with the process. Some consumers also had misconceptions about freezes, fearing that a freeze would negatively affect their credit score (it doesn’t) and that freezing or unfreezing a credit report is expensive (i. ‘is free).

People also read…

You don’t have to suffer from identity theft to place a gel. In fact, it’s wise to freeze your reports before you become a victim. You will need to contact each of the three major credit bureaus.

You can reach Equifax at (888) 298-0045 or equifax.com/freeze; Experian at (888) 397-3742 or experian.com/freeze; and TransUnion at (888) 909-8872 or transunion.com/freeze. (You can also freeze your reports by mail; for more information, see kiplinger.com/kpf/freeze.)

You provide information such as your Social Security number, date of birth, and address, and the offices must freeze your reports within one business day of receiving your request by phone or online.

Depending on the credit bureau, you may receive a PIN code that you will use to confirm your identity if you want to lift the freeze while applying for a credit card or loan.

Experian needs a PIN code to unblock your account. With TransUnion, you must provide a PIN to remove a freeze over the phone, but online you can manage your freeze with a password-protected account. Equifax no longer requires PINs; instead, you use a password-protected online account or provide identity verification information over the phone.

Offices are required to lift a freeze within one hour of an online or telephone request.

Children are attractive targets for identity thieves because it can take years for someone to notice that someone has stolen a child’s identity. By law, you can freeze the credit of your children under 16. If the child does not yet have a credit report, the office will create an account and freeze it.

You must submit a written request to each office and include supporting documentation, such as copies of your child’s birth certificate and driver’s license. If you are a curator or guardian or have power of attorney for someone (eg an elderly relative), you can also freeze their credit report.

Visit Kiplinger.com to learn more about this and similar money-related topics.

Asthma study, led by USF doctor, targets racial gaps in disease


Year-long asthma trial led by University of South Florida researcher may point the way to closing the disease story racial gaps, according to results published on Saturday by the New England Journal of Medicine.

The study, which followed about 1,200 black and Latino asthma patients for more than a year, focused on one promising tactic: those who added an inhaled corticosteroid as needed, an anti-inflammatory drug, plus anything their doctor had previously prescribed, fared better than those who continued their usual diet.

According to the study, minimal use of the added drug – just over one inhaler per year, on average – led to fewer severe asthma symptoms, better quality of life and fewer sick days.

The results are significant in part because previous efforts to address racial health disparities among asthma patients have been largely unsuccessful, said Juan Carlos Cardet, an allergist-immunologist and assistant professor at USF, who was the lead author of the study. The study, which involved patients from the United States and Puerto Rico, listed nearly 50 co-authors.

Juan Carlos Cardet, an allergist-immunologist at the University of South Florida, is the lead author of a New England Journal of Medicine study of an asthma treatment that could help reduce racial disparities in the disease. [ University of South Florida ]

“The fact that we had a positive result…something that could improve people’s lives is a privilege,” Cardet said of the study, which spanned eight years.

Black Americans are dying from asthma at more than double the rate of white Americans, according to the Centers for Disease Control and Prevention. They are also about five times more likely to go to the emergency room or be hospitalized due to the disease. In Florida, emergency room visits, hospitalizations and deaths from asthma all occur three times faster for black residents than for white residents, according to data from the Department of Health.

In Pinellas County in 2020, the disparities in emergency and hospitalization rates were even greater, although the county’s disparity in death rates was less severe than the state average. Overall, Tampa Bay is one of the worst areas in the state for black asthma hospitalizations, with above-average rates in Pinellas, Hillsborough, Pasco, Hernando counties , Polk and Manatee.

Cardet’s research focused on how patients treat their asthma. Diets for asthma generally fall into two categories, he said: There are rescue medications – think of an inhaler ‘to be used as needed’.. So there is control or maintenance treatment, which requires regular and frequent use. The latter has been associated with lower death rates, Cardet said, but research has shown that black patients use controller medication much less often than white patients. Cardet and previous research have suggested many reasons for this, including barriers to accessing specialists, differences in patient communications with doctors, and disparities in health insurance.

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In a process that Cardet said was “unprecedented in the pharmaceutical industry,” a group of patients collaborated with researchers on the design of the trial. They checked the researchers’ language, helping to make it more understandable for average patients, adding new angles to the monthly surveys that participants would answer, and developing a system to personalize them. Cardet said the researchers found patients rarely used technical terms such as “salvage therapy”; instead, they could color-code their inhalers or give them nicknames, like “Bob” or “friend.”

“In a significant portion of cases there is miscommunication,” he said. “This mismatch in terminology, after controlling for 15 different variables, actually creates worse results.”

By cutting out the jargon — and giving patients the option to complete surveys by mail, phone or online — Cardet said researchers got more participant engagement and more accurate responses.

The next steps are to integrate the trial results in clinical practice, Cardet said.

“That’s actually a large decrease in asthma exacerbations and asthma morbidity in the healthcare system achieved by one inhaler per year per person,” he said.

Why I put my car down on a credit card


Image source: Getty Images

Putting down a deposit for a car on a credit card can sometimes be a smart financial decision.

Key points

  • When you buy a car, you usually have to pay a deposit.
  • I recently bought a car and had to put down $5,000 for it.
  • I put the deposit on a credit card

Recently, I bought a new car to accommodate my growing family. When I bought the car, I paid for it with the money I had saved up. However, I had to pay a deposit before finalizing my purchase because the vehicle was still in transit and I couldn’t bring it home right away.

I was given several options to make my $5,000 deposit, but chose to put it on a credit card. Here’s why.

The big reason I put my deposit on a credit card

The reason I put my car down on a credit card was simple.

By charging the $5,000 I had to deposit, I was able to earn credit card reward points. My card offers a 2.265% rewards bonus, so the $5,000 charge I made ended up earning me $113.25 – just for a purchase I should have made anyway.

Due to the valuable credit card rewards I have been able to earn, I would have actually liked to charge Continued the cost of my vehicle. Unfortunately, car dealerships usually place strict caps on how much they allow you to charge.

My dealer initially wanted to limit the amount I could put on my card to just $2500, but I insisted on charging the $5000 deposit, and eventually they agreed rather than risk losing the entire sale.

Charging a deposit for a car can also help you qualify for a new cardholder bonus if you recently opened a new card and need to meet spending requirements. I wasn’t looking for a new card at the moment as I’m really happy with the one I have so it wasn’t an option I was interested in – but it’s a good approach if you can open a new map when you buy a new vehicle.

Be aware of this possible downside of putting a car down on a credit card

Now charging my car deposit made sense to me. It was the right financial decision as I was able to immediately refund all of the $5,000 I charged the card for my deposit. As a result, I did not have to pay any interest on the card. It would have eclipsed the value of the rewards I earned for charging the deposit.

If you are unable to pay off your card in full, this technique is probably not the best one for you. You should seriously consider saving more money so that you have enough money to cover the total costs with a reasonable down payment.

This way, you can take out a smaller car loan and reduce the chance that you’ll end up owing more than your car is worth – as well as benefit from the ability to charge the down payment, earn card points, and earn it. refund. right now .

If you can’t do that, then making a smaller down payment and borrowing more on a low-interest car loan might be a better solution than charging so much on a card.

Ultimately, though, if you can pay off your card, there’s no reason not to charge the cost of your vehicle as much as your dealership will allow.

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Online Payday Loans Market 2022-2030 by Top Key Players – EasyCash, Raffles Credit, Tangbull, GM Creditz – Materials Handling


The Most Recent Online Payday Loans Market Statistical Survey Report involves a comprehensive assessment of the Online Payday Loans industry, showcasing the variables that will affect the company’s revenue flow over the events assessed. Moreover, it gives an expressive framework of the possibilities opened up in the sub-promotions close to the measures to take advantage of something almost identical.

The analyst presents a detailed picture of the market through study, synthesis and summation of data from multiple sources by analysis of key parameters. Our Online Payday Loans Market Report Covers the Following Areas:

  • Online payday loan market size
  • Online Payday Loans Market Forecast
  • Industry analysis of the online payday loans market

Competitive analysis:

The Online Payday Loans Market report includes information on product launches, sustainability, and outlook from key vendors including: (EasyCash, Raffles Credit, Tangbull, GM Creditz, Cashwagon, Robocash, 365 Credit Solutions, UangTeman, TunaiKita, Tala, Fortune Credit, Amaze Credit, Bugis Credit, A1 Credit, PT InFin Tech Indonesia)

Sample Request with Full TOC & Figures & Charts @ https://crediblemarkets.com/sample-request/online-payday-loans-market-177544?utm_source=Kaustubh&utm_medium=SatPR

The report includes Competitive Analysis, a proprietary tool to analyze and evaluate the position of companies based on their industry position score and market performance score. The tool uses various factors to classify players into four categories. Some of these factors considered for analysis are financial performance over the past 3 years, growth strategies, innovation score, new product launches, investments, market share growth, etc

Market segmentation

The Online Payday Loans market is split by Type and by Application for the period 2021-2028, the growth between segments provides accurate artifices and forecasts for the sales by Type and by Application in terms of volume and value. This analysis can help you grow your business by targeting qualified niche markets.

By types

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Regional Analysis of the Global Online Payday Loans Market

The whole regional segmentation has been studied based on recent and future trends, and the market is forecast through the forecast period. The countries covered in the regional analysis of the Global Online Payday Loans Market report are US, Canada & Mexico North America, Germany, France, UK, Russia , Italy, Spain, Turkey, the Netherlands, Switzerland, Belgium and the rest of Europe. in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Saudi Arabia, United Arab Emirates, South Africa, Egypt, Israel, the rest of the Middle East and Africa (MEA) as part of the Middle East and Africa (MEA), and Argentina, Brazil and the rest of the South America as part of South America.

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Main points covered in the table of contents:

To present: Along with a detailed overview of the global Online Payday Loans Market, this segment provides an overview of the report to give thought on the nature and substance of the review study.

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Segmental analysis: The report gives accurate and solid guesses of the slice of the pie of significant portions of the online payday loans market. Market members can use this review to establish key interests in key development pockets of the market.

Do you have a specific question or requirement? Ask Our Industry Expert @ https://crediblemarkets.com/enquire-request/online-payday-loans-market-177544?utm_source=Kaustubh&utm_medium=SatPR

Answers to key questions in the report:

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  • What are the key factors driving the global online payday loans market?
  • Who are the main manufacturers on the market?
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  • What are sales volume, revenue, and price analysis of top manufacturers of Online Payday Loans market?
  • Who are the distributors, traders and dealers of Online Payday Loans market?
  • What are the Online Payday Loans market opportunities and threats faced by the vendors in the global Online Payday Loans Industries?
  • What are the deals, revenue, and value review by market types and uses?
  • What are the transactions, revenue and value review by business areas?

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Paisabazaar’s Credit Awareness Initiative Helps 52,000 Consumers Increase Their Score


Paisabazaar, a digital marketplace for consumer credit, said 52.7,000 people who checked their free credit score on its platform improved their score by 20 points or more over an 18-month period. .

This includes 23.6 lakh customers whose score increased by more than 50 points and 18.2 lakh customers who saw their score increase by 75 points and more. About 1.25 lakh Paisabazaar customers increased their credit score by more than 100 points over an 18-month period.

For the past five years, the company has enabled seamless access to credit scoring on its platform, with free lifetime tracking, which encourages customers to actively monitor their credit score and display responsible behavior for the develop further, according to Paisabazaar’s press release. Till date, about 2.6 crore customers got their free credit score and report on Paisabazaar platform.

Naveen Kukreja, CEO and Co-Founder of Paisabazaar, said, “Early in our journey, we realized that lack of consumer awareness of credit score was negatively impacting access to credit for multiple segments. We are delighted to have helped over 52 lakh customers to improve their score significantly. Our innovations such as credit counseling services and a proprietary credit creation product continue to add value to consumers and the ecosystem as a whole.”

Paisabazaar works with all four credit reporting companies (credit bureaus) in India and provides consumers with their credit reports for free from multiple bureaus instantly. Consumers can easily compare their monthly credit score from different bureaus with one click.

According to data from Paisabazaar, approximately 45% of its customers have purchased at least one credit product within six months of checking their credit score on Paisabazaar.

Paisabazaar, in partnership with SBM Bank India, has also launched a credit creation product – Step UP Credit Card – as part of its neo-loan strategy. Backed by an FD, this exclusive credit card was designed to help consumers with poor credit or those new to credit improve or increase their score.

To deepen the understanding of their credit score, Paisabazaar has also launched a credit health report on their platform, which provides a detailed view of each customer’s credit health.

Radhika Binani, Product Manager, Paisabazaar, said, “Just like your personal health, your credit health also depends on taking the right steps. While knowing and monitoring your score is the first step towards accessing credit, it is also crucial, especially for those with low scores, to understand what went wrong for them and take corrective action. to improve and strengthen their credit score. As a consumer platform, we are focused on being a catalyst for adapting credit in India.”

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PERSONALIS, INC. Management report and analysis of the financial situation and operating results. (Form 10-K)

The following discussion and analysis of our financial condition and results of
operations should be read in conjunction with our consolidated financial
statements and the related notes and other financial information included
elsewhere in this Annual Report on Form 10-K. In addition to historical
consolidated financial information, the following discussion contains
forward-looking statements that reflect our plans, estimates, and beliefs. Our
actual results could differ materially from those discussed in the
forward-looking statements. You should review the sections titled "Special Note
Regarding Forward-Looking Statements" for a discussion of forward-looking
statements and in Part I, Item 1A, "Risk Factors" for a discussion of factors
that could cause actual results to differ materially from the results described
in or implied by the forward-looking statements contained in the following
discussion and analysis and elsewhere in this Annual Report on Form 10-K.


Personalis' strategy is to develop some of the world's most advanced genetic
tests for cancer. Today our tests are routinely used by many of the largest
oncology-focused pharmaceutical companies for analysis of patient samples from
their clinical trials. More recently, we have also begun to work with a growing
number of leading cancer centers for clinical diagnostic use of our tests. We
believe that adoption and publication by these key opinion leaders will develop
an advanced standard of care for cancer patients and eventual broad use in a
community hospital setting. We believe that our tests can meaningfully improve
outcomes for cancer patients, and we estimate that the market opportunity for
our tests for therapy selection and monitoring is approximately $30 billion in
the U.S.

In December 2021, we launched NeXT Personal, a next-generation, tumor-informed
liquid biopsy assay designed to detect and quantify MRD and recurrence in
patients previously diagnosed with cancer. NeXT Personal is designed to deliver
industry-leading MRD sensitivity down to the 1 part-per-million range, an
approximately 10- to 100-fold improvement over other available technologies.
NeXT Personal leverages whole genome sequencing of a patient's tumor to identify
up to 1,800 specially-selected somatic variants that are subsequently used to
create a personalized liquid biopsy panel for each patient. We believe this
enables earlier detection across a broader variety of cancers and stages,
including typically challenging early stage, low mutational burden, and
low-shedding cancers. NeXT Personal is also designed to simultaneously detect
and quantify clinically relevant mutations in ctDNA that may be used in the
future to help guide therapy, when cancer is detected. These include known
targetable cancer mutations, drug resistance mutations, and new variants which
can emerge and change over time, especially under therapeutic pressure. We
consider this approach not just "tumor-informed", but "comprehensively
tumor-informed". Our ultimate goal is not just to detect cancer, but to provide
key information over the entire course of the patient's disease. We believe this
can be better for patients, more informative for pharmaceutical customers, and a
larger business opportunity for us.

Our strategy is to work with world-class medical institutions. To that end, in
the fourth quarter of 2021, we announced a collaboration with the Mayo Clinic
and in the first quarter of 2022, we announced one with the Moores Cancer Center
at UC San Diego Health. In these collaborations, we provide clinical diagnostic
testing and research sequencing and analysis services using our tissue-based
NeXT Dx test. We have begun to test clinical patient samples and are excited
about the opportunity to work with these renowned cancer centers. If we achieve
a favorable reimbursement decision for our NeXT Dx test from MolDx, we may also
generate revenue in the future from some of these collaborations. Given the
advanced nature of our NeXT Dx test, we believe it is a good fit for high-end
cancer centers, which have a dual mandate for both clinical care and research.
If these key opinion leaders have a positive experience using our tests, we are
optimistic that this will also support broader use of our platform by other
clinicians in the future.

We have the capacity to sequence and analyze approximately 200 trillion bases of
DNA per week in our facility. We believe that capacity is already larger than
most cancer genomics companies, and we continue to build automation and other
infrastructure to scale further as demand increases and in support of our NeXT
Liquid Biopsy, NeXT Dx Test and NeXT Personal offerings. To date, we have
sequenced more than 235,000 human samples, of which more than 145,000 were whole
human genomes.

In parallel with the development of our platform technology, we have also
pursued business within the population sequencing market, and we have provided
whole genome sequencing services under contract with the VA MVP, which has
enabled us to innovate, scale our operational infrastructure, and achieve
greater efficiencies in our lab. The VA MVP is the largest population sequencing
effort in the United States and we have delivered over 140,000 whole human
genome sequence datasets to the VA MVP to date. The cumulative value of task
orders received from the VA MVP since inception is approximately $186 million,
$178.1 million of which we had recognized as revenue as of December 31, 2021. In
September 2021, we received a task order from the VA MVP with a value of up to
approximately $9.7 million, which was significantly less than in prior years. At
that time, we expected the reduced order amount was to be followed by a formal
RFP process and a potential new contract to be awarded sometime late in the
third quarter of 2022. However, recent discussions with our contacts at the VA
MVP indicate that there will be no RFP process in 2022. Accordingly, we do not
expect to receive any new orders from the VA MVP this year nor to recognize any
revenue from the VA MVP beyond the current order and contract. Unless we receive
an additional task order and/or enter into a new services agreement with the VA
MVP with a value comparable to that of our current contract and historical
contracted orders, our revenue from the VA MVP is expected to decline
significantly in 2022 and future periods. Given the strong growth we have
already experienced in our oncology business in 2021, and the large market
opportunity we see in this space, we plan to focus primarily on cancer as we go

In August 2021, we announced that we will relocate our corporate headquarters
from Menlo Park to a new facility in Fremont, California and we plan to
beginning moving into it in the third quarter of this year. We signed a
13.5-year lease for the 100,000 square foot facility, which is approximately
double the amount of space in our current Menlo Park location. The new facility
is intended to allow for expansion of our laboratory for clinical testing to
support biopharma customers and clinical diagnostic testing. In addition, the
new space is intended to support the expansion of research and development
efforts to bring leading edge products and services to the marketplace. The new
facility will also provide more office space for our selling, general and
administrative workforce.

Our operations have been impacted by the ongoing COVID-19 pandemic. For example,
the previous shelter-in-place order and health orders have negatively impacted
productivity, disrupted our business, and slowed research and development
activities due to us limiting access to our laboratory space that would
otherwise be used by our research and development group, and, to the extent such
orders return in similar or more stringent form, they may continue to cause such
effects on our operations. The COVID-19 pandemic has also disrupted, and may
continue to disrupt, the ability of our suppliers to fulfill our purchase orders
in a timely manner or at all. Additionally, we are aware of increased demand in
the market for certain consumables used in COVID-19 test kits and vaccines. We
use such consumables in our operations, and we have faced, and may face in the
future, difficulties in acquiring such consumables if our suppliers prioritize
orders related to COVID-19. Several of our customers, including the VA MVP, were
delayed in sending us samples in the prior year due to the inability to collect
or ship samples during the COVID-19 pandemic, and these and additional customers
may be disrupted from collecting samples or sending purchase orders and samples
to us in the future.

While authorities in many areas have lifted or relaxed pandemic-related
restrictions, in some cases they have subsequently re-imposed various
restrictions after observing an increased rate of COVID-19 cases as the global
COVID-19 pandemic continues to rapidly evolve and to present serious health
risks. There is no guarantee when or if all such restrictions and
recommendations will be eliminated, such that we and our customers,
manufacturers and suppliers will be able to safely resume operations consistent
with our pre-COVID-19 operations. The full extent of the impact of the COVID-19
pandemic on our business, operations and plans remains uncertain and will depend
on future developments that cannot be predicted at this time. Such developments
include the continued spread of the Omicron variant in the U.S. and other
countries and the potential emergence of other SARS-CoV-2 variants that may
prove especially contagious or virulent, the ultimate duration of the pandemic
and the resulting impact on our business and other third parties with whom we do
business, and the effectiveness of actions taken globally to contain and treat
the disease.

A continued and prolonged public health crisis such as the COVID-19 pandemic
could have a material negative impact on our business, financial condition, and
operating results.

Factors affecting our performance

We believe that several important factors have had and which we believe will continue to have an impact on our operating performance and results of operations, including:

• The continued development of the genomic testing market. Our

performance depends on the willingness of biopharmaceutical customers to

continue to seek more comprehensive molecular information to further develop

effective cancer therapies.

• Increased adoption of our products and solutions by existing customers.

Our performance depends on our ability to retain and expand adoption

with existing customers. Because our technology is new, some customers

start using our platform by launching pilot studies involving a small

number of samples to gain experience with our service. As a result,

historically, a significant portion of our revenue comes from

customers. We believe that our ability to convert initial pilots into

larger orders from existing customers have the potential to drive

substantial long-term income. We expect there to be variations in

         the number of samples they choose to test each quarter.

      •  Adoption of our products and solutions by new customers. While new
         customers initially may not account for significant revenue, we believe
         that they have the potential to grow substantially over the long term as

they gain confidence in our service. Our ability to attract new customers

         is critical to our long-term success. Our publications, posters and
         presentations at scientific conferences lead to engagement at the
         scientific level with potential customers who often make the initial
         decision to gain experience with our platform. Accessing these new
         customers through scientific engagement and marketing to gain initial
         buy-in is critical to our success and gives us the opportunity to
         demonstrate the utility of our platform.

• Our revenues and costs are affected by the volume of samples we receive

customers from period to period. Timing and sample size

shipments received after orders have been placed vary. Since

sample shipments can be large and are often received from a third party,

the time of arrival can be difficult to predict in the short term.

Although our long-term performance is not affected, we are seeing

quarter-to-quarter volatility due to these factors. Samples arriving

later than expected may not be processed in the proposed quarter and

generate revenue the following quarter. Since many of our customers

         request defined turnaround times, we employ project managers to
         coordinate and manage the complex process from sample receipt to
         sequencing and delivery of results.

      •  Investment in product innovation to support growth. Investment in

research and development, including the development of new products and

capabilities are essential to establishing and maintaining our leadership position.

We have invested heavily in our NeXT platform, introducing new

additional products and capabilities over the past two years, including

NeXT Liquid Biopsy (exome-wide liquid biopsy platform), NeXT Dx Test

(comprehensive cancer genomic profiling test enabling advanced composite

biomarkers for the treatment of cancer), NeXT SHERPA and NeXT NEOPS (neoantigen

prediction capabilities) and NeXT Personal (liquid biopsy offer for

personalized tumor follow-up for patients). We are currently investing in

the development of future new product offerings, including NeXT CDx

(diagnostic test) and NeXT database (comprehensive analysis of tumor immunogenomics

database). We also collaborate with key opinion leaders in the field of cancer

centers, such as Mayo Clinic and UC San Diego Moores Cancer Centerfor

support the clinical utility of our platform. We believe this work is

         critical to gaining customer adoption and expect our investments in these
         efforts to increase.


————————————————– ——————————

• Leverage our operational infrastructure. We have invested a lot

         and will continue to invest, in our sample processing capabilities and
         commercial infrastructure. With our current operating model and
         infrastructure, we can increase our production and commercialize new

generations of our platform, but as our volumes continue to grow, we

will ultimately have to invest in additional production capacity. We

we expect to increase our revenues and spread our costs over a greater volume of

         services. In addition, we may invest significant amounts in
         infrastructure to support new products resulting from our research and
         development activities.

Components of operating results


We derive our revenue primarily from sequencing and data analysis services to
support the development of next-generation cancer therapies and to support
large-scale genetic research programs. We support our customers by providing
high-accuracy, validated genomic sequencing and advanced analytics. Many of
these analytics are related to state-of-the-art biomarkers, including those
relevant to immuno-oncology therapeutics such as checkpoint inhibitors.

Our revenue is primarily generated through contracts with companies in the
pharmaceutical industry, healthcare organizations, and government entities. Our
ability to increase revenue will depend on our ability to further penetrate this
market. To do this, we are developing a growing set of state-of-the-art
products, advancing our operational infrastructure, expanding our international
presence, building our regulatory credentials, and expanding our targeted
marketing efforts. We sell through a small direct sales force.

Since 2018, we derived a substantial portion of our revenue from sales of our
DNA sequencing and data analysis services to the VA MVP. However, we do not
anticipate deriving such substantial portions of our revenue from the VA MVP in
future periods. Our contract with the VA MVP does not include specific testing
turnaround times. Therefore, we have the ability to modulate the volume of
samples processed for the VA MVP up or down to complement sample volumes from
all other customers, which can vary from period to period.

We have one reportable segment from the sale of sequencing and data analysis
services. Substantially all of our revenue to date has been derived from sales
in the United States.

Costs and Expenses

Cost of Revenue

Cost of revenue consists of raw materials costs, personnel costs (salaries,
bonuses, stock-based compensation, payroll taxes, and benefits), laboratory
supplies and consumables, depreciation and maintenance on equipment, and
allocated facilities and information technology ("IT") costs. We expect cost of
revenue to increase as our revenue grows, and in the short term cost of revenue
may outpace revenue growth as we invest in expanding our laboratory capacity,
including additional costs associated with our future laboratory in Fremont,
California. Over time the cost per sample processed is expected to decrease due
to economies of scale we may gain as volume increases, automation initiatives,
and other cost reductions.

Research and development costs

Research and development expenses consist of costs incurred for the research and
development of our products. These expenses consist primarily of personnel costs
(salaries, bonuses, stock-based compensation, payroll taxes, and benefits),
laboratory supplies and consumables, costs of processing samples for research
purposes, depreciation and maintenance on equipment, and allocated facilities
and IT costs. We include in research and development expenses the costs to
further develop software we use to operate our laboratory, analyze the data it
generates, and automate our operations. These expenses also include costs
associated with our collaborations, which we expect to increase over time.

We expense our research and development costs in the period in which they are
incurred. We expect to increase our research and development expenses as we
continue to develop new products and incur additional costs associated with our
future headquarters in Fremont, California.

Selling, general and administrative expenses

Selling expenses consist of personnel costs (salaries, commissions, bonuses,
stock-based compensation, payroll taxes, and benefits), customer support
expenses, direct marketing expenses, and market research. Our general and
administrative expenses include costs for our executive, accounting, finance,
legal, and human resources functions. These expenses consist of personnel costs
(salaries, bonuses, stock-based compensation, payroll taxes, and benefits),
corporate insurance, audit and legal expenses, consulting costs, and allocated
facilities and IT costs. We expense all selling, general and administrative
costs as incurred.

We expect our selling expenses will continue to increase in absolute dollars,
primarily driven by our efforts to expand our commercial capability and to
expand our brand awareness and customer base through targeted marketing
initiatives with an increased presence both within and outside the United
States. We expect general and administrative expenses to increase as we scale
our operations and incur additional costs associated with ramping up our new
headquarters facility in Fremont, California.


————————————————– ——————————

Interest income and interest expense

Interest income consists primarily of interest earned on our cash and cash
equivalents and short-term investments. Interest income increased significantly
beginning in the second half of 2019 as a result of us investing proceeds from
the initial public offering of our common stock in June 2019 (our "IPO"). Since
the first quarter of 2020, our interest income has been adversely impacted by
declines in yields on debt securities. Interest expense in 2021 is the
recognition of imputed interest on noninterest bearing loans. Interest expense
in 2019 and prior years consisted of cash and non-cash interest costs related to
previously outstanding loans.

Loss on Debt Extinguishment

We incurred a loss on debt extinguishment in 2018 resulting from changes in the
maturity dates of convertible notes issued in 2017. We also incurred a loss on
debt extinguishment in 2019 upon the payoff of the Growth Capital Loan. See Note
6 to our consolidated financial statements included elsewhere in this annual

Other Income (Expense), Net

Other income (expense), net consists primarily of foreign currency exchange
gains and losses, and realized gains or losses associated with sales of
marketable securities. In 2019, other income (expense), net also consisted of
changes in fair value of a convertible preferred stock warrant liability. We
expect our foreign currency gains and losses to continue to fluctuate in the
future due to changes in foreign currency exchange rates.

Trending Financial Information

The following selected consolidated financial data should be read in conjunction
with the consolidated financial statements and the notes thereto in Item 8 of
Part II, "Financial Statements and Supplementary Data". Historical results are
not necessarily indicative of future results.

                                                                 Year Ended December 31,
                                          2021             2020             2019            2018            2017
Consolidated Statements of
Operations:                                          (in thousands, except share and per share data)
Revenue                               $     85,494     $     78,648     $     65,207     $    37,774     $     9,393
Costs and expenses
Cost of revenue                             53,837           58,534           43,127          25,969          11,736
Research and development                    49,312           28,568           22,418          14,304           9,919
Selling, general and administrative         47,698           33,692           22,080          11,271           9,901
Total costs and expenses                   150,847          120,794           87,625          51,544          31,556
Loss from operations                       (65,353 )        (42,146 )        (22,418 )       (13,770 )       (22,163 )
Interest income                                367              949            1,620             293             100
Interest expense                              (184 )             (2 )         (1,133 )        (1,894 )        (1,303 )
Loss on debt extinguishment                      -                -           (1,704 )        (4,658 )             -
Other income (expense), net                    (42 )            (24 )         (1,440 )           150            (227 )
Loss before income taxes                   (65,212 )        (41,223 )        (25,075 )       (19,879 )       (23,593 )
Provision for income taxes                      14               57                9               7               5
Net loss                              $    (65,226 )   $    (41,280 )   $    (25,084 )   $   (19,886 )   $   (23,598 )
Net loss per share, basic and
diluted                               $      (1.49 )   $      (1.20 )   $      (1.39 )   $     (6.49 )   $     (7.78 )
Weighted-average shares
outstanding, basic and diluted          43,886,730       34,374,903       18,011,470       3,063,157       3,031,636

                                                                 December 31,
                                        2021          2020          2019           2018          2017
Consolidated Balance Sheet Data:                                (in 


Cash and cash equivalents, and
short-term investments                $ 287,064     $ 203,290     $ 128,289     $   19,744     $  22,617
Working capital                         286,918       180,083        89,616        (28,291 )     (22,262 )
Total assets                            396,528       244,842       157,291         41,670        33,563
Total debt                                3,494             -             -          4,996        17,506
Long-term obligations                    54,914         9,261           639            804         1,183
Total liabilities                        86,227        49,897        50,601         58,654        50,171
Redeemable convertible preferred
stock                                         -             -             -         89,404        75,995
Total stockholders' equity
(deficit)                               310,301       194,945       106,690       (106,388 )     (92,603 )


Operating results

This section generally discusses 2021 and 2020 items and year-to-year
comparisons between 2021 and 2020. Discussions of 2019 items and year-to-year
comparisons between 2020 and 2019 that are not included in this Form 10-K can be
found in "Management's Discussion and Analysis of Financial Condition and
Results of Operations" in our Annual Report on Form 10-K for the year ended
December 31, 2020.


The following table presents revenues by customer type (in thousands):

                           Years Ended December 31,                     Change
                        2021         2020         2019       2021 vs 2020     2020 vs 2019
VA MVP                $ 45,671     $ 56,154     $ 43,545         -19%             29%
All other customers     39,823       22,494       21,662         77%               4%
Total revenue         $ 85,494     $ 78,648     $ 65,207          9%              21%

The following table shows the revenue concentration by customer:

                                   Year Ended December 31,
                              2021            2020         2019
VA MVP                         53%             71%          67%
Natera, Inc.                   10%              *            *
Pfizer Inc.                     *               *           13%
* Less than 10% of revenue


The decrease of $10.5 million in revenue from the VA MVP in 2021 was primarily
due to a decrease in the volume of samples we tested in the period. As of
December 31, 2021, we had a remaining backlog of $7.6 million under our current
contract with the VA MVP, including the task order received in September 2021.
We expect to convert such amount into revenue during the first three quarters of

The recognition of significant revenue from the VA MVP in future periods after
the completion of our current backlog is contingent on receipt of a new
contract. The VA MVP may not award us a new contract. Further, the value of any
such potential new contract may be lower than our current contract and
historical contracted orders from the VA MVP, and/or the scope or nature of the
services required under any such new contract may change such that we are unable
to serve the VA MVP in the future. The task order received in September 2021 had
a value of up to approximately $9.7 million, which represents a substantial
decline compared to historical contracted orders. At that time, we expected the
reduced order amount was to be followed by a formal RFP process and a potential
new contract to be awarded sometime late in the third quarter of 2022. However,
recent discussions with our contacts at the VA MVP indicate that there will not
be an RFP process in 2022. Accordingly, we are not planning on receiving any new
orders from the VA MVP this year or expecting to recognize any revenue beyond
the current order and contract. Unless we receive an additional task order
and/or enter into a new services agreement with the VA MVP with a value
comparable to that of our current contract and historical contracted orders, our
revenue from the VA MVP will decline significantly in 2022 and future periods.

All other customers

The increase of $17.3 million in revenue from all other customers in 2021 was
driven primarily by strong demand from large pharmaceutical customers for our
NeXT Platform products, which resulted in an increase in the volume of samples
we tested during 2021. Revenue from Natera contributed $8.6 million of the
increase due to increased sample receipts under our agreement to provide
advanced tumor analysis for use in Natera's MRD testing offerings. Revenue
derived from our NeXT Platform products, which includes revenue from Natera, was
$27.9 million in 2021, compared to $8.2 million in 2020, an increase of $19.7

Based on the relatively large dollar value of orders received from all other customers throughout fiscal 2021, we expect revenue from all other customers to make up the majority of our total revenue in fiscal year 2022.

Costs and Expenses

                                       Year Ended December 31,                         Change
                                  2021          2020          2019         2021 vs 2020       2020 vs 2019
                                           (in thousands)
Cost of revenue                 $  53,837     $  58,534     $  43,127          -8%                36%
Research and development           49,312        28,568        22,418          73%                27%
Selling, general and
administrative                     47,698        33,692        22,080          42%                53%
Total costs and expenses        $ 150,847     $ 120,794     $  87,625          25%                38%


Revenue cost

The decrease in cost of revenue in 2021, despite a revenue increase in the same
period, was primarily due to favorable customer mix and efficiencies within our
laboratory operations. Raw materials costs were lower, relative to revenue, for
non-VA MVP customer orders, resulting in favorable customer mix in 2021. We also
observed more efficient sample processing overall in 2021, including less labor
and overhead required per sample processed, which was favorable for both VA MVP
and non-VA MVP orders.

The cost components related to the $4.7 million decrease in cost of revenue in
2021 were a $3.2 million decrease in raw materials costs due to favorable
customer mix, a $3.1 million decrease in indirect costs due to a higher
utilization of our laboratory for research and development activities, and a
$0.3 million decrease in the cost of laboratory supplies and consumables,
partially offset by a $1.1 million increase in labor costs as a result of
increased headcount, and a $0.8 million increase in depreciation and maintenance
on lab equipment.

Research and development

The $20.7 million increase in research and development in 2021 was primarily due
to development of new products and lab automation efforts and consisted of a
$12.1 million increase in personnel-related costs primarily related to increased
headcount, a $5.1 million increase in sample processing costs incurred in our
laboratory for new product development, a $2.0 million increase in IT and fixed
facilities costs, a $1.0 million increase in depreciation and maintenance on
research and development equipment, and a $0.5 million increase in consulting

Selling, general and administrative expenses

The $14.0 million increase in selling, general and administrative in 2021 was
primarily due to a $8.6 million increase in personnel-related costs related to
increased headcount, a $2.6 million increase in professional services (including
corporate insurance, audit fees, and legal expenses), a $1.6 million increase in
rent expense primarily related to our new Fremont facility, and a $1.2 million
charge in connection with the modification of stock options held by two
non-employee board members.

Interest income, interest expense and other expenses, net

                                        Year Ended December 31,                          Change
                                   2021           2020          2019         2021 vs 2020       2020 vs 2019
                                            (in thousands)
Interest income                 $      367      $     949     $   1,620          -61%               -41%
Interest expense                      (184 )           (2 )      (1,133 )         NM               -100%
Loss on debt extinguishment              -              -        (1,704 )             -            -100%
Other expense, net                     (42 )          (24 )      (1,440 )        75%                -98%
Total                           $      141      $     923     $  (2,657 )

Interest income and interest expense

The decrease in interest income in 2021 was driven by declines in yields on debt
securities, partially offset by higher average cash and investment balances
subsequent to our follow-on equity offerings in August 2020 and January 2021.
Interest expense in 2021 is the recognition of imputed interest on noninterest
bearing loans.

Other expense, net

Other expenses, net in 2021 and 2020, included gains and losses on foreign exchange transactions and revaluations.

Cash and capital resources

The following tables present selected financial information and statistics at the dates and for the years ended December 31, 20212020 and 2019 (in thousands):

                                                              December 31,
                                                   2021           2020      


Cash and cash equivalents, and short-term
investments                                     $  287,064     $  203,290     $  128,289
Property and equipment, net                         19,650         11,834         14,106
Contract liabilities                                 3,982         21,034         35,977
Working capital                                    286,918        180,083         89,616

                                                   Year Ended December 31,
                                              2021          2020          2019
Net cash used in operating activities       $ (70,828 )   $ (42,653 )   $ (18,069 )
Net cash used in investing activities         (60,069 )     (65,143 )     (81,579 )
Net cash provided by financing activities     169,700       121,268       134,948


From our inception through December 31, 2021, we have funded our operations
primarily from $279.0 million in net proceeds from our follow-on equity
offerings in August 2020 and January 2021, $144.0 million in net proceeds from
our IPO in June 2019, and $89.6 million from issuance of redeemable convertible
preferred stock, as well as cash from operations and debt financing. As of
December 31, 2021, we had cash and cash equivalents in the amount of $105.6
million and short-term investments in the amount of $181.5 million.

We have incurred net losses since our inception. We anticipate that our current
cash and cash equivalents and short-term investments, together with cash
provided by operating activities, are sufficient to fund our near-term capital
and operating needs for at least the next 12 months.
We have based these future funding requirements on assumptions that may prove to
be wrong, and we could utilize our available capital resources sooner than we
expect. If our available cash balances, net proceeds from the offerings and
anticipated cash flow from operations are insufficient to satisfy our liquidity
requirements, including because of lower demand for our services or other risks
described in this Annual Report on Form 10-K, such as the COVID-19 pandemic, we
may seek to sell additional common or preferred equity or convertible debt
securities, enter into an additional credit facility or another form of
third-party funding or seek other debt financing. We filed a prospectus
supplement in January 2022 pursuant to which we could offer and sell additional
shares of our common stock up to an aggregate amount of $100.0 million through
an at-the-market offering program. The sale of equity and convertible debt
securities may result in dilution to our stockholders and, in the case of
preferred equity securities or convertible debt, those securities could provide
for rights, preferences or privileges senior to those of our common stock. The
terms of debt securities issued or borrowings pursuant to a credit agreement
could impose significant restrictions on our operations. Additional capital may
not be available on reasonable terms, or at all.

Our short-term investment portfolio is primarily invested in highly rated securities, with the primary aim of minimizing the potential risk of loss of capital. Our investment policy generally requires securities to be of high quality and limits the degree of credit exposure to any given issuer.

As of December 31, 2021, cash and cash equivalents held by foreign subsidiaries
was $2.1 million. Our intent is to indefinitely reinvest funds held outside the
United States and our current plans do not demonstrate a need to repatriate them
to fund our domestic operations. However, if in the future, we encounter a
significant need for liquidity domestically or at a particular location that we
cannot fulfill through borrowings, equity offerings, or other internal or
external sources, or the cost to bring back the money is not significant from a
tax perspective, we may determine that cash repatriations are necessary or
desirable. Repatriation could result in additional material taxes. These factors
may cause us to have an overall tax rate higher than other companies or higher
than our tax rates have been in the past.

During 2021, cash used in operating activities of $70.8 million was a result of
$65.2 million of net loss and a net negative change in operating assets and
liabilities of $31.1 million (of which $17.1 million was related to reductions
in outstanding customer prepayments as we fulfilled the related revenue
contracts and $12.1 million due to an increase in accounts receivable),
partially offset by non-cash adjustments to net income of $25.5 million (the
most significant non-cash expenses were $14.4 million of stock-based
compensation and $6.0 million of depreciation and amortization).

During 2020, cash used in operating activities of $42.7 million was a result of
$41.3 million of net loss and a net negative change in operating assets and
liabilities of $17.2 million (of which $14.9 million was related to reductions
in outstanding customer prepayments as we fulfilled the related revenue
contracts), partially offset by non-cash negative adjustments to net income of
$15.8 million (the most significant non-cash expenses were $8.2 million of
stock-based compensation and $5.8 million of depreciation and amortization).

During 2021, cash used in investing activities was $60.1 million due to net
purchases of short-term investments of $49.0 million and $11.1 million in
payments for property and equipment. Cash provided by financing activities of
$169.7 million during the same period consisted of $162.3 million net proceeds
from our January 2021 follow-on offering, $5.2 million proceeds from loans, and
$4.4 million proceeds from stock option exercises and purchases under our
Employee Stock Purchase Plan ("ESPP"), partially offset by $1.9 million
repayments of loans and $0.3 million of offering costs.

During 2020, cash used in investing activities was $65.1 million due to net
purchases of short-term investments of $61.9 million and $3.2 million in
payments for property and equipment. Cash provided by financing activities of
$121.3 million during the same period consisted of $117.5 million net proceeds
from our August 2020 follow-on offering, $4.2 million proceeds from stock option
exercises and purchases under our ESPP, partially offset by $0.4 million of
offering costs.

Material cash needs

Our material cash requirements in the short- and long-term consist primarily of
capital expenditures, variable costs of revenue, operating expenditures,
property leases, and other. We plan to fund our material cash requirements with
our existing cash and cash equivalents and short-term investments, which
amounted to $287.1 million as of December 31, 2021, as well as anticipated cash
receipts from customers.

Capital expenditures. We expect to increase capital expenditures in future
periods to support our global growth initiatives. Such expenditures are expected
to consist primarily of facility renovations and improvements, laboratory
equipment, and computer equipment. We currently expect capital expenditures to
be between $55 and $65 million in 2022 and between $10 and $15 million in each
of the next two fiscal years. In connection with our new headquarters and
laboratory facility in Fremont, California, we expect to

spend between $45 and $50 million (net of expected landlord reimbursements) in
combined leasehold improvements, renovations, administrative, and other costs
through the end of 2022. This is the reason for greater expected capital
expenditures in 2022 as compared to the following two years.

Variable costs of revenue. From time to time in the ordinary course of business,
we enter into agreements with vendors for the purchase of raw materials,
laboratory supplies and consumables to be used in the sequencing of customer
samples. However, we generally do not have binding and enforceable purchase
orders beyond the short term, and the timing and magnitude of purchase orders
beyond such period is difficult to accurately project. Another primary use of
cash within variable costs of revenue relates to paying our workforce. We
currently expect spend to decrease in 2022 but increase in years thereafter to
support revenue growth.

Operating expenditures. Our primary use of cash relates to paying employees,
spend on professional services, spend related to research and development
projects, and other costs related to our research and development, selling,
general and administrative functions. We currently expect to increase our spend
in these areas to support our business growth in 2022. On a long-term basis, we
manage future cash requirements relative to our long-term business plans.

Property leases. Our noncancelable operating lease payments were $84.6 million
as of December 31, 2021. The timing of these future payments, by year, can be
found in Part II, Item 8 of this Form 10-K in the Notes to Consolidated
Financial Statements in Note 7, "Leases."

Other. During the second quarter of 2021, we entered into two noninterest
bearing loans to finance the purchase of $5.6 million of computer hardware,
internal use software licenses, and related ongoing support. We made payments of
$1.86 million in 2021. We are required to make payments of $1.86 million in each
of 2022 and 2023. Further discussion of this transaction can be found in Part
II, Item 1 of this Form 10-K in the Notes to Consolidated Financial Statements
in Note 6, "Loans."

Certain of our customers prepay us for a portion of the services that they
expect to order from us before they place purchase orders and we deliver those
services. In some cases, this prepayment can be substantial and may be paid
months or a year or more in advance of these customers providing samples to us
and before our delivery of the services to which some or all of the deposit
relates. As of December 31, 2021, we had approximately $3.8 million in customer
deposits, including $3.3 million from one customer. We are generally not
required by our contracts to retain these deposits in cash or otherwise and we
have generally used these deposits to make capital expenditures and fund our
operations. When a customer that has prepaid us for future services cancels its
contract with us, reduces the level of services that it expects to receive, or
we determine that a prepayment is no longer necessary, we will repay that
customer's deposit. We do not expect such repayments to require material amounts
of cash.

Significant Accounting Policies and Estimates

Our consolidated financial statements are prepared in accordance with U.S. GAAP.
The preparation of these consolidated financial statements requires us to make
estimates and assumptions that affect the reported amounts of assets,
liabilities, revenue, costs and expenses, and related disclosures. Our estimates
are based on our historical experience and on various other factors that we
believe are reasonable under the circumstances, the results of which form the
basis for making judgments about the carrying value of assets and liabilities
that are not readily apparent from other sources. Actual results may differ from
these estimates under different assumptions or conditions.

An accounting policy is deemed to be critical if it requires an accounting
estimate to be made based on assumptions about matters that are highly uncertain
at the time the estimate is made, if different estimates reasonably could have
been used, or if changes in the estimate that are reasonably possible could
materially impact the financial statements. We believe that the assumptions and
estimates associated with revenue recognition, stock-based compensation, and
leases have the greatest potential impact on our consolidated financial
statements. Therefore, we consider these to be our critical accounting policies
and estimates.

Revenue Recognition

We generate our revenue from selling sequencing and data analysis services. We
agree to provide services to our customers through a contract, which may be in
the form of a combination of a signed agreement, statement of work and/or a
purchase order.

We have evaluated the performance obligations contained in contracts with
customers to determine whether any of the performance obligations are distinct,
such that the customers can benefit from the obligations on their own, and
whether the obligations can be separately identifiable from other obligations in
the contract. For the significant majority of our contracts to date, the
customer orders a specified quantity of a sequencing; therefore, the delivery of
the ordered quantity per the purchase order is accounted for as one performance
obligation. Our contracts include only one performance obligation-the delivery
of the sequencing and data analysis services to the customer.

Fees for our sequencing and data analysis services are predominantly based on a
fixed price per sample. The fixed prices identified in the arrangements only
change if a pricing amendment is agreed with a customer. In limited cases we
provide our customers a discount if samples received above a certain volume are
purchased. In such cases, the discount applies prospectively. We have analyzed
such discounts if they represent a material right provided to a customer. We
have concluded that such discounts generally do not represent a material right
provided to a customer since they are not deemed to be incremental to the
pricing offered to the customer or are not enforceable options to acquire
additional goods. As a result, these discounts do not constitute a material
right and do not meet the definition of a separate performance obligation,
except in limited instances. We do not offer retrospective discounts


————————————————– ——————————

or discounts. Thus, the entire transaction price, net of any discount, is allocated to a single performance obligation. Therefore, upon delivery of the services, no performance obligation remains.

Contracts that contain multiple distinct performance obligations would require
an allocation of the transaction price to each performance obligation based on a
relative stand-alone selling price basis. Sometimes we deliver sequencing
results in two or more batches; however, since the quantity delivered per batch
of each individual test per sales order in these instances is in the same ratio
as in the original sales order, allocating the transaction price on a relative
stand-alone selling price basis would have no impact on the revenue recognized
in any period presented.

We recognize revenue when control of the promised services is transferred to our
customers. Management has determined that customers obtain control when the
sequencing and data analysis service results are delivered to customers. Revenue
is recorded net of sales or other transaction taxes collected from clients and
remitted to taxing authorities.

A customer contract liability will arise when we have received payments from its
customers in advance, but has not yet provided genome and exome sequencing and
data analysis services to a customer and satisfied its performance obligations.
We record a customer contract liability for performance obligations outstanding
related to payments received in advance for customer deposits. We expect to
satisfy these remaining performance obligations and recognize the related
revenue upon providing sequencing and data analysis services.

All of our revenue and trade receivables are generated by contracts with customers and substantially all of our revenue is from we domestic operations.

Payment Terms

Payment terms and conditions vary by contract and customer. Our standard payment
terms are typically less than 90 days from the date of invoice. In instances
where the timing of our revenue recognition differs from the timing of its
invoicing, we have determined that our contracts do not include a significant
financing component. The primary purposes of our invoicing terms are to provide
customers with simplified and predictable ways of purchasing our services and
provide payment protection for us.

Stock-based compensation

For options granted to employees, non-employees, and directors, stock-based
compensation is measured at grant date based on the fair value of the award. We
determine the grant-date fair value of options using the Black-Scholes
option-pricing model, except for certain performance-based awards for which an
alternative valuation method may be used. We determine the fair value of
restricted stock unit awards using the closing market price of the Company's
common stock on the date of grant. The grant-date fair value of awards is
amortized over the employees' requisite service period on a straight-line basis,
or the non-employees' vesting period as the goods are received or services
rendered. Forfeitures are accounted for as they occur. Additionally, our ESPP is
deemed to be a compensatory plan and therefore is included in stock-based
compensation expense.

Estimating the fair value of equity-settled awards as of the grant date using
valuation models, such as the Black-Scholes option-pricing model, is affected by
assumptions regarding a number of complex variables. Changes in the assumptions
can materially affect the fair value and ultimately how much stock-based
compensation expense is recognized. These inputs are subjective and generally
require significant analysis and judgment to develop.

• Expected Duration – The expected duration assumption represents the

         weighted-average period that the stock-based awards are expected to be
         outstanding. We have elected to use the "simplified method" for
         estimating the expected term of the options, whereby the expected term
         equals the arithmetic average of the vesting term and the original
         contractual term of the option.

• Expected Volatility – For all stock options granted to date,

         volatility was estimated based on an average historical stock price
         volatility of a peer group of publicly traded companies as we did not

have sufficient trading history for our own common stock. For the purposes of

identifying these peer companies, we considered the industry, stage of

         development, size, and financial leverage of potential comparable

• Expected dividend yield – The Black-Scholes option pricing model

calls a single expected dividend yield as an input. We currently have

         no history or expectation of paying cash dividends on our common stock.

      •  Risk-Free Interest Rate-The risk-free interest rate is based on the yield
         available on U.S. Treasury zero-coupon issues similar in duration to the
         expected term of the award.

Differential borrowing rate

Lease liabilities are recognized at the present value of the fixed lease
payments, reduced by landlord incentives, using a discount rate based on the
Company's current borrowing rate at the lease commencement date (the incremental
borrowing rate), unless the rate implicit in the lease is readily determinable.

In August 2021, we entered into a 13.5-year lease for our new corporate
headquarters. We estimated our incremental borrowing rate as the rate implicit
in the lease was not readily determinable. To determine the incremental
borrowing rate, we estimated our credit rating by comparing certain financial
ratios and metrics of the Company to those of other issuers with publicly
available credit ratings from Standard & Poor's (S&P). We then adjusted yields
from publicly traded corporate bonds of companies of similar size and credit
rating over a term approximating the term of our lease for the nature of the
collateral. Our concluded incremental borrowing rate for this lease was 5.8%,
which resulted in a lease liability and right-of-use asset of $44.7 million.

Accounting election of the JOBS law

Prior to December 31, 2021, we were a smaller reporting company and eligible to
take advantage of the same reduced disclosures that an emerging growth company,
as defined in the Jumpstart Our Business Startups Act (the "JOBS Act"), could
avail itself to. Under the JOBS Act, emerging growth companies can delay
adopting new or revised accounting standards issued subsequent to the enactment
of the JOBS Act until such time as those standards apply to private companies.
We had irrevocably elected not to avail ourselves of this exemption from new or
revised accounting standards, and therefore, are subject to the same new or
revised accounting standards as other public companies that are not smaller
reporting companies or emerging growth companies.

Recent accounting pronouncements

See the sections entitled “Summary of Significant Accounting Policies – Recent Accounting Pronouncements” and “Recent Accounting Pronouncements Not Yet Adopted” in Note 2 to our Consolidated Financial Statements for additional information.

Item 7A. Quantitative and qualitative information on market risk.

As a “small reporting company”, we are not required to provide the information under this heading.


————————————————– ——————————

© Edgar Online, source Previews

How to lower your credit card payments by consolidating them into a personal loan


Personal loans offer a way to pay off credit card debt at a fixed interest rate and a low monthly payment. (iStock)

Making minimum payments on your credit cards can be an expensive way to get out of debt, and it’s even more frustrating when even minimum payments are unaffordable. Since credit card interest accrues daily, it can take years to pay off your balances, even if you don’t miss any payments.

Fortunately, there are faster (and cheaper) ways to pay off credit card debt, like credit card consolidation loans. It is a type of personal loan that you repay in fixed monthly installments at a lower interest rate. Consolidating into a new loan can even help you pay less than the minimum credit card payment, while getting out of debt faster and saving money over time.

Keep reading to find out how to lower your credit card payments by using a personal loan. You can visit Credible to compare personal loan rates for free without affecting your credit score.


Personal loans can help lower your credit card payments

Credit card companies may allow you to borrow money up to a certain limit while making a low minimum payment, sometimes just $25 or a small percentage of the total balance. But the more debt you have, the higher your minimum payment will be and the longer it will take you to pay off your balances.

For example, if you have credit card debt of $10,000, your monthly payment could reach $400, or 4% of the total balance. Since the average credit card rate is 16.44%, according to the Federal Reserveit will take more than 12 years to pay off the debt with interest and fees.

It may be possible to lower your monthly payment and pay off years of debt faster by consolidating your personal loan. This is because interest rates are much lower for personal loans than for credit cards. Plus, personal loan rates are fixed for the entire term, which means interest doesn’t accrue daily.

Pay off credit card debt with a monthly savings personal loan

Paying off $10,000 in credit card debt with a 3-year personal loan can potentially lower your monthly payment by $76 per month. By refinancing a 5-year personal loan, you can save $172 per month compared to the minimum credit card payment.

Since you’re paying off debt years faster, you can save even more money in interest charges over the life of the loan. Interest rates are lower for short-term loans, which means you could save almost $3,500 over time by choosing a 3-year loan term rather than making the payment minimum by credit card. But even if you choose the 5-year personal loan term with a lower monthly payment, you can still save around $1,400 while you pay off your debt.

You can visit Credible to see the personal loan rates right for you with a soft credit check and use a personal loan calculator to estimate your new monthly payments.


How to Use a Personal Loan for Credit Card Debt Consolidation

Paying off high-interest credit card balances with a personal loan is relatively simple, and it can be done completely online without leaving the comfort of your home. Here’s what the five-step process looks like:

  1. Determine how much you need to borrow
  2. Check your credit score
  3. Choose a loan term
  4. Compare personal loan rates
  5. Formally apply for the loan

Learn more about each step in the sections below:

1. Determine how much you need to borrow

You can consolidate the balances of one or more credit cards into a personal loan. Add up your credit card balances to determine the amount of personal loan you need to borrow.

Be careful not to borrow too much, or you’ll pay interest on money you don’t need to pay off your credit card debt.


2. Check your credit score

Since personal loans are unsecured and do not require collateral, lenders determine your eligibility and interest rate based on your creditworthiness. This includes your credit score and the debt-to-income ratio, which is the amount of your debt repayments divided by your monthly income.

Applicants with very good or excellent credit, as defined by the FICO scoring model than 740 or more, will qualify for the lowest personal loan rates available. On the other hand, borrowers with bad credit will find it difficult to qualify for a personal loan with good terms.

Personal loan rate by credit score

Knowing your credit score can help you determine if you are a good candidate for credit card consolidation. You can check your credit score and sign up for free credit monitoring on Credible.


3. Choose a loan term

Shorter loan repayment terms generally offer lower interest rates, but they will come with higher monthly payments. But because you’re paying off your debt faster, you’ll save more in interest charges over the life of the loan.

Longer loan terms can help lower your monthly payments, but may come with higher interest rates. This can increase the overall cost of borrowing for the loan, although it might be worth it if your goal is to lower your credit card payments.

For example, well-qualified borrowers who used Credible to prequalify for a 3-year personal loan saw an average rate of 10.33% during the week of February 7. Average 5-year fixed rate personal loan rates were 13.17% during this time.


4. Compare personal loan rates

Most online lenders allows you to be prequalified to see your estimated personal loan rates and repayment terms. Prequalification requires a soft credit check, and it won’t hurt your credit score.

You can compare credit card consolidation loan rates between multiple lenders at once on Credible.


5. Formally apply for the loan

Once you have chosen the personal loan offer that suits your needs, you will need to complete an official personal loan application through the lender. This requires a apply for firm credit, which will temporarily lower your credit score.

If you are approved, personal loan funds can be deposited directly into your checking account the next business day. You can then use the money to pay down your credit card balance to zero. Be careful not to accumulate new credit card debt while paying off your personal loan.

You can browse the personal loan rates in the table below and visit Credible to learn more about your debt consolidation options.


You have a financial question, but you don’t know who to contact? Email the Credible Money Expert at [email protected] and your question might be answered by Credible in our Money Expert column.

Today’s Mortgage Rates Are Rising | February 23, 2022


Mortgage rates are generally higher today.

Borrowers looking to buy a home will see an average rate of 4.438% on a 30-year fixed rate mortgage, up 0.42 percentage points from yesterday. The 15-year fixed rate mortgage for buying a home now averages 3.489% while the rate for a 5/1 adjustable rate mortgage is 3.236%.

Average refinance rates are also higher today. A 30-year refi loan averages 4.507%, an increase of 0.044 percentage points. A 15-year refi is at 3.579% and an ARM 5/1 at 3.285%.

  • The last rate on a 30-year fixed rate mortgage is 4.438%.
  • The final rate on a 15-year fixed rate mortgage is 3.489%. ⇑
  • The latest rate on a 5/1 ARM is 3.236%. ⇑
  • The latest rate on a 7/1 ARM is 3.519%. ⇑
  • The latest rate on a 10/1 ARM is 3.63%. ⇑

Money’s daily mortgage rates reflect what a borrower with a 20% down payment and a credit score of 700 — roughly the national average score — could pay if he or she applied for a home loan right now. Each day’s rates are based on the average rate that 8,000 lenders offered applicants the previous business day. Freddie Mac weekly rates will generally be lower, as they measure the rates offered to borrowers with higher credit scores.

Are you looking for a loan? Check out Money’s lists of top mortgage lenders and top refinance lenders.

Today’s 30-Year Fixed Rate Mortgage Rates

  • The 30-year rate is 4.438%.
  • It’s a day infold by 0.042 percentage points.
  • It’s a month to augment by 0.454 percentage points.

The long payback period of a 30-year fixed rate mortgage means that monthly payments will be relatively low. The fixed rate also provides long-term stability. On the other hand, the interest rate will be higher compared to a shorter term loan, so you will end up paying more interest on a 30 year loan.

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Average mortgage rates

Data based on US mortgages closed on February 22, 2022

Type of loan February 22 Last week Change
15-year fixed conventional 3.49% 3.5% 0.01%
30-year fixed conventional 4.44% 4.44% 0.0%
ARM rate 7/1 3.52% 3.49% 0.03%
ARM rate 10/1 3.63% 3.61% 0.02%

Your actual rate may vary

15 years today fixed rate mortgage rates

  • The 15-year rate is 3.489%.
  • It’s a day infold by 0.063 percentage points.
  • It’s a month infold by 0.52 percentage points.

The shorter repayment time and lower interest rate of a 15-year loan means, in total, that you will pay less with this type of loan. However, the short term also means that the monthly payments will be higher than a loan of the same size over 30 years.

The latest rates of adjustable rate mortgages

  • The latest rate on a 5/1 ARM is 3.236%. ⇑
  • The latest rate on a 7/1 ARM is 3.519%. ⇑
  • The latest rate on a 10/1 ARM is 3.63%. ⇑

With a variable rate mortgage, the interest may be low and fixed at first, but will eventually become adjustable and change on a regular schedule. The rate on a 5/1 ARM, for example, is fixed for five years and then changes every year. The risk with an ARM is that the interest rate could increase significantly once it becomes adjustable.

The Latest VA, FHA, and Jumbo Loan Rates

The average rates for FHA, VA, and jumbo loans are:

  • The rate on a 30-year FHA mortgage is 4.193%. ⇑
  • The rate for a 30-year VA mortgage is 4.515%. ⇓
  • The rate for a 30-year jumbo mortgage is 3.978%. ⇔

The latest mortgage refinance rates

The average refinance rates for 30-year loans, 15-year loans and ARMs are:

  • The refinance rate on a 30-year fixed rate refinance is 4.507%. ⇑
  • The refinance rate on a 15-year fixed rate refinance is 3.579%. ⇑
  • The rollover rate on a 5/1 ARM is 3.285%. ⇑
  • The refinance rate on a 7/1 ARM is 3.593%. ⇑
  • The refinance rate on a 10/1 ARM is 3.714%. ⇑
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Average Mortgage Refinance Rates

Data based on US mortgages closed on February 22, 2022

Type of loan February 22 Last week Change
15-year fixed conventional 3.58% 3.58% 0.0%
30-year fixed conventional 4.51% 4.51% 0.0%
ARM rate 7/1 3.59% 3.56% 0.03%
ARM rate 10/1 3.71% 3.69% 0.02%

Your actual rate may vary

Where are mortgage rates going this year?

Mortgage rates have fallen through 2020. Millions of homeowners have responded to low mortgage rates by refinancing existing loans and taking out new ones. Many people bought homes they might not have been able to afford if rates were higher. In January 2021, rates briefly fell to lowest levels on record, but rose slightly for the rest of the year.

Looking ahead, experts believe that interest rates will rise further in 2022, but also modestly. Factors that could affect rates include continued economic improvement and further labor market gains. The Federal Reserve has also started to scale back its purchases of mortgage-backed securities and said it plans to raise the federal funds rate three times in 2022 to combat rising inflation from March.

While mortgage rates are likely to rise, experts say the increase won’t happen overnight and it won’t be a dramatic jump. Rates are expected to remain near historic lows throughout the first half of the year, rising slightly later in the year. Even with rising rates, it will still be a good time to finance a new home or refinance a mortgage.

Factors that influence mortgage rates include:

  • The Federal Reserve. The Fed acted quickly when the pandemic hit the United States in March 2020. The Fed announced its intention to keep money flowing in the economy by lowering the Federal Fund short-term interest rate between 0% and 0.25%, which is also low as you go. The central bank also pledged to buy mortgage-backed securities and treasury bills, supporting the housing finance market, but began to scale back those purchases in November.
  • The 10-year Treasury bond. Mortgage rates keep pace with government 10-year Treasury bond yields. Yields first fell below 1% in March 2020 and have since risen. On average, there is typically a 1.8 point “spread” between Treasury yields and benchmark mortgage rates.
  • The wider economy. Unemployment rates and changes in gross domestic product are important indicators of the overall health of the economy. When employment and GDP growth are weak, it means the economy is weak, which can lower interest rates. Thanks to the pandemic, unemployment levels reached historic highs early last year and have yet to recover. GDP has also taken a hit, and although it has rebounded somewhat, there is still plenty of room for improvement.

Tips for getting the lowest possible mortgage rate

There is no universal mortgage rate that all borrowers receive. Qualifying for the lowest mortgage rates takes some work and will depend on both personal financial factors and market conditions.

Check your credit score and your credit report. Mistakes or other red flags can lower your credit score. Borrowers with the highest credit scores are the ones who will get the best rates, so it’s essential to check your credit report before you begin the home hunting process. Taking steps to correct mistakes will help increase your score. If you have high credit card balances, paying them off can also give you a quick boost.

Save money for a large down payment. This will lower your loan-to-value ratio, which is the share of the house price that the lender has to finance. A lower LTV usually translates to a lower mortgage rate. Lenders also like to see money that has been saved in an account for at least 60 days. It tells the lender that you have the money to finance the home purchase.

Shop around for the best rate. Don’t settle for the first interest rate a lender offers you. Check with at least three different lenders to see who offers the lowest interest rate. Also consider different types of lenders, such as credit unions and online lenders in addition to traditional banks.

Also. take the time to learn about the different types of loans. Although the 30-year fixed rate mortgage is the most common type of mortgage, consider a shorter-term loan such as a 15-year mortgage or an adjustable rate mortgage. These types of loans often come with a lower rate than a conventional 30-year mortgage. Compare the costs of all to see which best suits your needs and financial situation. Government loans — such as those backed by the Federal Housing Authority, Department of Veterans Affairs, and Department of Agriculture — may be more affordable options for those who qualify.

Finally, lock in your rate. Locking in your rate once you’ve found the right rate, the right loan product, and the right lender will help ensure that your mortgage rate doesn’t increase until the loan is closed.

Our mortgage rate methodology

Money’s Daily Mortgage Rates show the average rate offered by more than 8,000 lenders across the United States for which the most recent rates are available. Today we are posting rates for Tuesday, February 22, 2022. Our rates reflect what a typical borrower with a 700 credit score might expect to pay for a home loan at this time. These rates were offered to people depositing 20% ​​deposit and include discount points.

More money :

Michigan Group collects signatures to curb payday loans – CBS Detroit


LANSING, Mich. (AP) – A Michigan group began collecting signatures on Wednesday for a ballot proposal to limit interest and fees charged by payday lenders that they say trap low-income borrowers in cycles of debt.

Michiganders for Fair Lending needs approximately 340,000 valid voter signatures by June. If enough are gathered, the measure would go to the Legislative Assembly, where efforts to curb payday loans have stalled. If lawmakers do not act, the public will vote on the initiative in November.

READ MORE: Michigan matters: Politics take center stage as leaders try to push state to first place in 2024 election

It would cap these loans, known as deferred presentation service transactions, at an annual interest rate of 36%. They generally amount to 370% depending on the group.

Payday loans are short-term, high-cost loans, typically $500 or less, that are usually due on the borrower’s next payday.

READ MORE: Sill Hall Labs at Eastern Michigan University named after top business leaders

Jessica AcMoody, director of policy at the Community Economic Development Association of Michigan, said payday loan customers take out an average of 10 loans a year and 70% re-borrow the day they repay a previous loan.

“This cycle causes significant financial damage to families trapped in debt – including difficulty paying basic living expenses and medical needs (and) repeated overdraft charges, which often lead to account closures. banks, completely distancing the borrower from the traditional banking system,” she says. “By lowering the cap rate on this predatory lending, we can keep our most vulnerable neighbors out of a cycle of bottomless debt.”

Voters in at least three states — Nebraska, Colorado and South Dakota — have capped annual interest rates on payday loans at 36% in recent years. Fifteen other states also have laws limiting short-term loan rates to 36% or less.

NO MORE NEWS: Pistons, CODE313 hosts ‘STEAM SLAM’ to expose students to technology and tech careers

© 2022 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

5 things investors should keep in mind


Days after the State Bank of India and HDFC Bank raised fixed deposit (FD) interest rates, several other banks including IDBI Bank and IndusInd Bank followed suit. Previously, the Central Bank and UCO Bank also raised FD rates (see table).

Rate hikes continued although the Reserve Bank of India (RBI) kept repo and reverse repo rates unchanged in the latest monetary policy announcement on February 10. Repo and reverse repo rates currently sit at 4% and 3.35%. respectively.

Most seniors invest in FDs because returns are guaranteed and unaffected by market volatility. Moreover, many of them are not in the highest income tax brackets. FDs are taxed at slab rates and returns from these may not be efficient as taxation and inflation eat away at a substantial portion. However, with the banks increasing the interest rates of the FD, many young investors may also tend to invest in it for their debt allocation.

Should you invest now?

As FD interest rates rise, is now a good time to lock your money in these instruments? Here are some things investors should keep in mind before investing in FDs.

FD Rate Chart

Wait a few more months: Experts suggest it makes sense to wait a few more months as rates are likely to rise further in the near future. “As the Government Securities Rate (G-Secs) generally serves as a benchmark for interest rates on FDs, the increase in the G-Sec (10-year bond yield) by 6.4% on 3 Jan 2022 at 6.68% on Jan 27, 2022 at 6.69% on Feb 21, 2022 could be the reason for the increase in the interest rate on FD in the coming times,” says Pradeep Multani, President of the PHD Chamber of Commerce and Industry, an industry body Percentage values

Opt for a short-term investment: Since there is a good chance that rates will rise in the near future, you could invest for the short term, assuming that interest rates will rise in the future. “The interest rate on short-term deposits may increase in the short term as inflation rises due to higher global oil prices and escalating geopolitical tensions. The effect on long-term deposit rates will only be felt if inflation stays in a higher path,” says Multani.

Use to create an emergency corpus: Short-term FDs can also be useful for parking your emergency corpus, regardless of prevailing interest rates. “Investors can consider parking the cash they need for the short term or the emergency fund they have built up in fixed deposits,” said Harshad Chetanwala, Certified Financial Planner and co-founder of My Wealth Growth, a financial planning company. It is not advisable to keep your emergency corpus in the savings account because you might end up using the money for other purposes if you are not disciplined enough.

Good choice for novice investors: New investors may have money to invest, but it may take some time for them to understand the complexity of the market. For them, FD can be a good option to understand how investments work. “The interest rates offered on FDs are higher than savings accounts, offering the best returns. Since there is no market involvement in FDs, the risk factor is extremely low adds Multani.

Consider the consequence: Although having good returns on FD relieves investors, one must be prepared for the consequences this may have on other sectors. “If interest rates continuously increase, it will have an impact on the real estate sector, as banks also start increasing interest on home loans,” Multani adds.

Millport man arrested for robbery, stealing credit card; already stopped 4 times


HORSHEADS, NY (WETM) – A Millport man who has been arrested at least four times in the past four months has been arrested again for allegedly stealing property worth more than $1,000 last October in last fall.

Jordan Blake, 28, was arrested by New York State Police on February 21 at approximately 8:21 p.m. According to the arrest report, Blake’s arrest stems from an incident first reported on October 1, 2021. The Chemung County Prosecutor’s Office told 18 News that Blake was arrested on a Superior Court warrant issued by the Chemung County Court.

He was charged with grand theft of property over $1,000, grand theft of a credit card, and criminal possession of a stolen credit car, all Class E felonies. Authorities did not give further details. information about the incident.

Blake had already been arrested at least four times in October and November last year on numerous charges. On October 19, he was arrested on multiple felony weapons and drug charges after reporting a suspicious vehicle parked in Waverly. Later that month, Blake was arrested again—twice in one day—for veteran child endangerment and multiple drug charges in the town of Big Flats. The following month, Blake was arrested for a fourth time, alongside a teenager from Horseheads, for a burglary in the town of Horseheads.

Mortgage of the day, refinancing rate: February 22, 2022


Mortgage rates held steady at the start of February, but have spiked over the past two weeks. Rates tend to be low when the economy is struggling, and the coronavirus pandemic has hurt the US economy. the

Federal Reserve

massively purchased assets, including mortgage-backed securities, to help the economy.

But the Fed announced that it would start cutting its purchases to twice the rate originally planned. He also plans to raise the federal funds rate three times in 2022. Rates are rising accordingly, and they will likely continue to rise through 2022.

Today’s Mortgage and Refinance Rates

Today’s Mortgage Rates

Today’s Refinance Rates

mortgage calculator

Use our free mortgage calculator to see how today’s interest rates will affect your monthly payments:

mortgage calculator

Your estimated monthly payment

  • pay one 25% a higher down payment would save you $8,916.08 on interest charges
  • Lower the interest rate by 1% would save you $51,562.03
  • Pay an extra fee $500 each month would reduce the term of the loan by 146 month

By clicking on “More details”, you will also see the amount you will pay over the life of your mortgage, including the amount of principal versus interest.

How do mortgage rates work?

A mortgage interest rate is the fee charged by a lender to borrow money, expressed as a percentage. For example, you get a $300,000 mortgage with an interest rate of 2.5%.

Mortgage rates can be fixed or adjustable. A fixed rate mortgage keeps your rate the same for the life of your loan. A variable rate mortgage fixes your rate for the first few years or so, then changes it periodically. With a 7/1 ARM, your rate would remain stable for the first seven years and then change every year.

The longer your mortgage term, the higher your rate will be. For example, you will pay more for a 30-year mortgage than for a 15-year mortgage. However, longer terms come with lower monthly payments because you spread out the repayment process.

How to get the best mortgage rate?

Here are some steps you can take to get the lowest mortgage rate possible:

  • Consider fixed rates versus adjustable rates. You may be able to get a lower introductory rate with an adjustable rate mortgage, which can be beneficial if you plan to move before the end of the introductory period. But a fixed rate might be better if you’re buying a house forever, because you don’t risk your rate going up later. Examine the rates offered by your lender and weigh your options.
  • Look at your finances. The stronger your financial situation, the lower your mortgage rate should be. Look for ways to increase your credit score or reduce your debt ratio, if necessary. Saving for a larger down payment also helps.
  • Choose the right lender. Each lender charges different mortgage rates. Choosing the right one for your financial situation will help you get a good rate.

How to choose a mortgage lender?

First, think about the type of mortgage you want. The best mortgage lender will be different for an FHA mortgage than for a VA mortgage.

A lender should be relatively affordable. You shouldn’t need a very high credit score or down payment to get a loan. You also want them to offer good rates and charge reasonable fees.

Once you’re ready to start shopping for homes, get pre-approved with your top three or four choices. A pre-approval letter indicates that the lender wants to lend you up to a certain amount, at a specific interest rate. When you are pre-approved, your mortgage rate is locked in for 60-90 days. With a few pre-approval letters in hand, you can compare each lender’s offer.

When you apply for pre-approval, a lender does a credit check. A bunch of tough inquiries on your file can hurt your credit score, unless it’s to hunt for the best rate.

If you limit your rate purchases to about a month, the credit bureaus will understand that you’re looking for a home and shouldn’t hold each individual claim against you.

BBB warns you about identity theft


MONROE, La. (KNOE) – Here are some of the ways thieves could use your stolen information and the signs you can look for.

An identity thief could use your information to obtain credit or service on your behalf.

• How to spot it: Get your free credit report at AnnualCreditReport.com. Review it for accounts you haven’t opened or requests you don’t recognize. A new credit card, personal loan, or car loan will appear as a new account. A new mobile phone plan or a new utility – like water, gas or electricity – will appear as a request.

An identity thief could use your credit card or withdraw money from your bank account.

• How to spot it: Check your credit card or bank statement when you receive it. Look for purchases or withdrawals you didn’t make.

• Bonus Tip: Sign up to receive text or email alerts from your credit card or bank whenever there’s a new transaction. This could help you spot unauthorized or fraudulent activity on your account.

An identity thief could steal your tax refund or use your social security number to work.

• How to spot it: A notice from the IRS that there is more than one tax return filed in your name could be a sign of tax impersonation. The same goes for a notice that you receive income from an employer you don’t work for.

An identity thief could use your health insurance to get medical attention.

• How to spot it: Review your medical bills and Explanation of Benefits statements for services you did not receive. They could be a sign of medical identity theft.

An identity thief could use your information to file a claim for unemployment benefits.

• How to spot it: A notice from your state unemployment office or employer about unemployment benefits you didn’t apply for could be a sign of fraud.

If you discover signs that someone is misusing your personal information, learn what to do on IdentityTheft.gov.

Report identity (ID) theft to the Federal Trade Commission (FTC) online at IdentityTheft.gov or by phone at 1-877-438-4338. The BBB office also keeps FTC printouts!

You can call the Better Business Bureau at 318-387-4600 for assistance or to schedule an appointment.

Copyright 2022 KNOE. All rights reserved.

Flight MH370, What happened in the mystery of Flight MH370?


A leading aviation expert says he has pinpointed the likely location of the doomed MH370 plane. If he’s right, it will solve an eight-year-old mystery about the whereabouts of the plane and its 239 passengers and crew, all of whom are believed to be dead. The results also confirmed “horrific” theories about the last hours of the missing plane – said the senior official in charge of the preliminary search.

But the authorities still need to be convinced to launch a new search mission. Malaysia Airlines flight MH370 went missing on March 8, 2014, just hours after departing the Malaysian capital Kuala Lumpur for Beijing, China.

The plane headed northeast towards China, but suddenly changed direction shortly after takeoff in the Gulf of Thailand and returned over the Malay Peninsula. He then charted a course southwest into the remote depths of the Indian Ocean. It is said to have crashed 2000km off the coast of Western Australia. The search area of ​​MH370 is 120,000 square kilometers. But without success.

RAAF AP-3C Orions deliver supplies for HMAS Toowoomba during the search for the missing Malaysia Airlines flight MH370. Photo/LSIS James Whittle, Archives British aeronautical engineer Richard Godfrey scanned radio signals for anomalies that fateful night. He said it allowed him to focus on a new crash zone.

“In my view, there is no reason why we shouldn’t plan a new search,” Godfrey told Australia’s Channel Nine on Sunday. The groundbreaking discovery is claimed after analysis using WSPR (Weak Signal Propagation Reporter) technology – which is actually an invisible, tripwire-like radio wave that records any interference or passing through the wave. thing.

However, experts seriously doubt that historical WSPR data can be used to track MH370. Godfrey told 60 Minutes that 160 signals were jammed over the Indian Ocean that night, possibly by plane.

Only one other plane was over the ocean somewhere near MH370, which Godfrey said was at least an hour away. This means the failure was most likely caused by the Malaysian jet, allowing its flight and possibly its final resting place to be tracked.

He said he could narrow the search down to just 300 square kilometers and complete the exploration in just a few weeks. This includes some areas that have already been searched and others that were never inspected during the initial rescue effort.

“In this very difficult terrain, it is possible to miss the wreckage,” he said.

“If you exceed 120,000 square kilometers, you have a chance, one per point. Within a radius of 300 square kilometers, you can make several passes from different angles, so it is possible.

Godfrey told 60 Minutes his research revealed another side to the flight and its captain, Zaharie Ahmed Shah.

Instead of flying straight into the Indian Ocean, Godfrey said MH370 made a series of 360-degree turns at sea, almost like an airplane’s holding pattern before landing at a busy airport. This means the “ghost flight” theory – where the plane is on autopilot with passengers and crew disabled – may not be correct.

“It’s weird to me. If you want to drop off a plane in the most remote part of the Indian Ocean, why make you wait 20 minutes?

“[The captain] maybe communicated with the Malaysian government, maybe he checked to see if he was being followed, he just wanted time to make up his mind,” Godfrey said. If true, the Boeing 777’s strange heading over the Indian Ocean suggests the theory that the captain deliberately left the plane behind.

Peter Foley is the Director of Operations for the Australian Transport Safety Board (ATSB) looking for an MH370.

When 60 Minutes reporter Sarah Abo asked if the most likely scenario was that the captain was behind the mass murder, Foley replied: “Yeah, that’s a big difference. It’s too bad.” Still, Foley said some of Godfrey’s findings merit further study.

“Innovation certainly makes sense.

“I don’t think the jury has decided on Richard’s work yet, but we hope they find something.”

The ATSB has called Godfrey “credible” but has yet to open a new investigation.

“The Australian Transport Safety Board has not been formally involved in the search for the missing plane MH370 since the first underwater search ended in 2017, and has not resumed the search for the plane. , noting that any decision to conduct further research will be the responsibility of the Malaysian government in the matter,” ATSB Chief Commissioner Angus Mitchell said in a statement.

“The ATSB is aware of the work of Mr. Richard Godfrey and recognizes that he is a reliable expert on the subject of the MH370, but the ATSB does not have the technical expertise to validate his ‘MH370 flight path’ and was not prompted” documents and works.

“As such, the ATSB cannot use WSPR data to assess the effectiveness of Mr. Godfrey’s work. “The ATSB acknowledges that Dr. Godfrey’s work recommended establishing a search area for MH370, a substantial portion of which covers the area searched during the ATSB-directed underwater search.

“When the ATSB learned that the area in which Mr. Godfrey was located included a marine area that was being investigated during the ATSB-led search, as a matter of due diligence, the ATSB asked Geoscience Australia to publish its detected items of interest.”

“The ATSB expects this review to be completed in the coming weeks, and the results will be posted on the ATSB website. “The ATSB recognizes the importance of locating aircraft to provide answers and closures to bereaved families. “Amid all the efforts to locate the missing aircraft, the ATSB remains an interested observer.” Mitchell reiterated that any decision to conduct further searches for MH370 lay with the Malaysian government and that the ATSB was not aware of any Malaysian request to the Australian government to assist in the search for the missing aircraft.

Godfrey’s findings have led a grieving woman who lost her husband in the MH370 crash to now believe the incident was murder and not mechanical failure. The body of Danica Weeks’ husband, New Zealander Paul Weeks, has never been found.

Weeks told Sky News that after years of believing the plane crashed due to mechanical failure, she now believes it was murder. “I was determined to say it wasn’t a pilot,” she said.

“But now I have to throw it all away, after almost eight years [after disappearing] and three [authorities searching for the plane].

“I never believed it was the pilot. Unfortunately, Richard Godfrey said he believed the pilot was in control at this point. haven’t found it.. So maybe we need to take a step forward…and look into it now.

Which credit cards have low interest rates?


New data published by the New York Federal Reserve Tuesday showed that Household credit card debt has risen at the highest rate in 22 years during the fourth quarter of 2021. Total credit card debt in the United States increased by $52 billion.

However, the total credit card balance in the United States is still $67 billion lower than it was at the start of the pandemic, now sitting at $860 billion. In addition, the rate of delinquency on credit cards declined and the sharp increase in the fourth quarter coincided with the holiday season, when household spending generally increases.

Consumers seem to be feeling confident again about their financial prospects and feel a greater sense of security knowing that pandemic-related revenue losses are now less likely. With millions of Americans choosing to use credit cards, which offer the lowest interest rates?

Consumer advice site Nerd Wallet outlines the best deals

Selecting a credit card can be a difficult undertaking, and one that can have some pretty serious financial consequences if you choose the wrong one. social initiative nerd wallet aims to support consumers by “taking a stand against financial inequality” and helping to provide “access to fair financial products and services” in low-income communities.

The folks at Nerd Wallet recommended the following range of low interest credit cards to adapt to various financial situations…

Ideal for a long period of 0% APR intro

BankAmericard credit card (regular rate from 12.99% to 22.99% variable APR)

Ideal for 0% introductory period and flat rate cash back

Wells Fargo active charge card (regular rate 14.99% to 24.99% variable APR)

Best for longer 0% APR intro period

Wells Fargo Reflect Card (Regular Rate 12.99% to 24.99% Variable APR)

Best for 0% introductory period and cash back in bonus category

Find out Cash Back (regular rate from 11.99% to 22.99% variable APR)

Ideal for a 0% introductory period and ongoing cash back

Chase Freedom Unlimited (14.99% Regular Rate to 23.74% Variable APR)

Ideal for 0% introductory period and Grocery & Gas Rewards

Blue Cash Everyday® card from American Express (regular rate from 13.99% to 23.99% variable APR)

What has fueled the rise in credit card debt in the United States?

It’s unlikely anyone’s attention has escaped the fact that prices have risen in the US in recent months as the economic recovery continues. The fallow period during the first year of the pandemic was replaced by new momentum in consumer sector and supply chain issues which drove up prices.

Write in the New York Fed report Researcher Donghoon Lee explains, “We are starting to see the reversal of some of the credit card balance trends seen during the pandemicnamely the reduction of consumption and the reimbursement of balances.

“At the same time, as pandemic-related restrictions are lifted and consumption normalizes, credit card usage and balances return to pre-pandemic trends,” he adds.

As the U.S. economy moves closer to a pre-pandemic bottom line, credit card usage and credit card debt balances will likely rise accordingly.

‘Everyone is careful for their own good’: Finance classes prepare San Diego students for real life


Ellie Costas, a 17-year-old high school student from San Marcos, is already using what she learns in high school.

She learned to file her taxes for her part-time jobs at a retail store and at Legoland. And the personal finance course she’s taking has convinced her to stop spending all her earnings on impulse shopping and eating out and put money aside for her college fund.

His classmate Emiliano Damian, 17, learned how to choose a credit card, earn rewards points and build a good credit score by paying off his credit card on time.

Another classmate, 16-year-old Ty Turner, learned he could earn $1 million when he retires, thanks to compound interest, as long as he starts saving and investing early for retirement.

“If you start saving for retirement much earlier than everyone else, you get a lot more money than everyone else,” he said.

All of these students say they love their new personal finance course, which debuted last fall. Unlike other courses they have taken, it is clear that this will be useful to them in their daily lives.

“You know, when you’re learning math or language arts, sometimes it can be hard to understand why you’re learning something? This class teaches real-world things that everyone knows are valuable,” Emiliano said. “I feel like everyone is paying attention for their own good, rather than blundering in class because no one sees the point in learning, like geometry.”

Tara Razi is an American history teacher who has been teaching for nine years. She created San Marcos High’s first personal finance class this school year, amid the pandemic, to help students avoid the financial gaffes she’s seen other people make, like racking up too much debt.

Razi prides herself on being financially independent. She got her first job at 14, then worked full-time at Chili’s while teaching and tutoring, and has since paid for her car and bought a house at 28.

“I’m really proud of the financial stability I’ve been able to create for myself in life,” she said, “and I always felt that was information that needed to be shared with the next generation of people. ‘students.’

“It was like an awakening”

Razi is one of several thousand teachers in California who teach personal finance, a class that class advocates say is crucial to helping students avoid poverty and debt, achieve financial freedom and being an adult in general – but not offered in enough schools.

At first, Razi planned to offer part of the class, perhaps to around 40 students. But the class has become so popular that it now has six sections with 220 students, and Razi has had to recruit another teacher to teach it.

During a stock unit, Ty said he and his classmates created stock portfolios and competed to see who could make the most money in a month.

During a unit on entrepreneurship, Ty worked with a classmate to start a pizza food truck business. Ty called the landlords and asked how much they would charge for renting commercial space, and he spoke with Bank of America to see how much of a commercial loan he could get.

After studying clips of Shark Tank in class, the two students pitched their food truck idea to their teacher and the superintendent of San Marcos, who both said they would invest in their project if they were investors in capital risk.

In Razi’s class, Ty pre-registered to vote, wrote a cover letter and resume, and applied for a job as a barista.

“When little kids talk about how there should be, like, helpful classes…that class is that class,” Ty said.

Before taking Razi’s course, Ellie said she wasn’t saving her money. She had already been told she needed to save, she said, but no one told her why until Razi did.

At one point in class, she went over all of her spending transactions with Razi and realized that she was spending her paychecks on “random stuff” and restaurants.

“After hearing what (Razi) had to say, it was like a wake up call for me,” Ellie said, “I may be 17, but I need to start saving for bigger things in life. If I hadn’t learned this in class, I would have started saving too late or I wouldn’t have saved at all.

Razi also teaches what she calls “life hacks,” things most of her students haven’t learned because they spend so much of their lives on their phones.

She taught them how to address an envelope, write a check, sew on a button, write a thank you note and sign their names on documents.

“It’s going to sound crazy but they never practiced signing because growing up we used to go with our parents and watch them sign things. But now the kids are at home or on their phone,” Razi said.

Razi said high schools are good at preparing kids for college, but they often don’t teach practical life skills like managing money and credit.

“You can be very smart and academically successful on a college campus, but once you leave that campus, do you know how to make sure you have enough money in your account to pay your bills,” she said. demand. “Do you know what to look for when choosing a credit card? Do you know what an interest rate is?

49th in the country

Personal finance courses aren’t prevalent in California, in part because the state doesn’t require it as a course for graduation.

According to Next Generation Personal Finance, a nonprofit in Palo Alto, less than 1% of high school students in California attend a school that requires it, which offers a free financial literacy program and teacher training.

According to the nonprofit, only one in four California high school students attends a school that offers personal finance as an option. In contrast, across the country, 70% of high school students attend a school that offers a course in personal finance.

That’s why Next Generation ranks California 49th among states in personal finance education.

“In conversations with (California) lawmakers, the response is usually, ‘Well, the districts can decide to come up with that if they want.’ Obviously, that’s not happening,” said Tim Ranzetta, founder of Next Generation Personal Finance “Other states seem to believe in having a choice.”

When Razi was creating her personal finance class, she said she had to push for it to be a separate class, rather than incorporating personal finance into another class like economics.

She said the district’s budgetary reasons also likely limit personal finance course offerings; since this is an elective course in California, it is likely given lower priority than state-required courses for graduation.

For years, state officials have disputed the claim that they don’t provide enough personal finance education. Financial literacy topics are included as part of the state’s curriculum for economics, a one-semester class the state requires for high school graduation.

In 2013, state legislators mandated that financial literacy topics such as budgeting and managing personal credit, student loans, and debt be included as part of the state social science curriculum. A state law passed in 2016 required that more financial literacy topics be included the next time the state revises its social science framework, currently scheduled for 2026.

The curriculum framework is a set of guidelines, not requirements, that school districts and charter schools must follow, said Scott Roark, spokesman for the California Department of Education.

Personal finance advocates say economics courses focus more on high-level monetary policy, rather than personal finance strategies for use in everyday life. Ranzetta said integrating personal finance into an economics course often means it becomes an afterthought that doesn’t get as much time and attention as it needs.

Ellie, who is enrolled in a government/economics course, said it taught her how government regulates money and other large-scale topics such as inflation, the stock market and the Federal Reserve.

But the class doesn’t talk about money on a personal level.

“They never really get into how it’s going to affect us, what personal finance does,” Ellie said.

State officials also objected to requiring a personal finance course because, they say, California emphasizes local control, which means school districts and charter schools have a significant degree of freedom in deciding what to teach students.

“Most states will say ‘local control,’ but aren’t we deciding that math is important enough that every school has to teach four years of math?” Ranzetta asked.

California did not hesitate to impose certain courses. Last year, the state made ethnic studies a course requirement for high school graduation.