Credit Account – How To Occupy http://howtooccupy.org/ Just another WordPress site Sun, 26 Sep 2021 14:19:37 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 http://howtooccupy.org/wp-content/uploads/2021/07/icon.png Credit Account – How To Occupy http://howtooccupy.org/ 32 32 What to do at each age to make sure you’re on track to retire http://howtooccupy.org/what-to-do-at-each-age-to-make-sure-youre-on-track-to-retire/ Sun, 26 Sep 2021 13:35:56 +0000 http://howtooccupy.org/what-to-do-at-each-age-to-make-sure-youre-on-track-to-retire/ Select’s editorial team works independently to review financial products and write articles that our readers will find useful. We may receive a commission when you click on product links from our affiliate partners. There are undoubtedly a lot of things to follow when it comes to managing our personal finances. We keep an eye on […]]]>

Select’s editorial team works independently to review financial products and write articles that our readers will find useful. We may receive a commission when you click on product links from our affiliate partners.

There are undoubtedly a lot of things to follow when it comes to managing our personal finances. We keep an eye on our spending, our savings, our investments, our debts and even the ups and downs of our credit rating.

Making sure we’re on the right track to retirement may not seem so urgent, but it’s arguably the most important facet of our finances to watch out for. After all, you don’t want to approach your non-working years and realize that you are not financially prepared to quit working.

Select spoke to Andrew Meadows, senior vice president of Ubiquity Retirement + Savings, about what you can do each decade to make sure you’re on track to retire at 67.

In your 20s: save as much as you can

Your 20 years are a financially difficult decade. You’ve just graduated from college, perhaps on student loans, and you’re embarking on a new lifestyle that involves paying rent, utility bills and more, all with a living wage. ‘entry level.

When you’re just starting out on the job, you might find that retirement feels like a lifetime in the future, ”says Meadows.“ But don’t waste your biggest savings benefit: time. “The sooner you start putting money into your future, the more it can grow.

Start by depositing a percentage of your paycheck each pay period into a 401 (k), if your employer offers one. Many employers also match your contributions up to a certain percentage.

“You might not be maximizing your contributions, but saving at least enough to maximize your business’s match will make you feel like you’re on the right track,” says Meadows.

Your goal at 30: Save once your salary. This benchmark includes money in your savings, retirement, business matchmaking and investment accounts.

What to do if your employer doesn’t offer 401 (k)

IRAs are a great alternative to a 401 (k), and you can set up recurring transfers from every paycheque so you never have the chance to run out of saving for retirement.

When shopping for an IRA, choose an account that has no minimum deposit and offers a variety of investment options. Major vendors include: Charles Schwab, Fidelity Investments, Vanguard, and E * TRADE. Or, consider a robo-advisor who offers IRAs and / or Roth IRAs, like Wealthfront or Betterment, both of which create a personalized portfolio of investments based on your personal goals.

In your 30s: save more

As you age, advance in your career, and earn a higher salary, you probably have more savings capacity than in your 20s. Take this opportunity to contribute Following when you retire with every bonus, increase or promotion at work.

“You know you’re on the right track when you’re able to contribute to this game and start to get closer to maximizing what you’re putting away,” Meadows said. Experts suggest aiming to save at least 15% of your gross pay.

Your goal at 40: Save 3 times your salary.

In your 40s: watch your spending

Your spending will likely increase in your 40s as you grow a family and accept big ticket items like a mortgage. The key is to continue to contribute to your retirement as you did, but monitoring your new expenses to make sure they don’t eat into your progress.

Paying for your child’s college years can make a big dent in your retirement savings later on. Dedicate your savings to higher education by investing in a 529 account where your income and withdrawals (as long as they are used for qualifying educational expenses) are tax-free.

Your goal at age 50: Save 6 times your income.

In your 50s: Examine the details

Your 50s is a great time to get down to the serious business of financing your retirement. Meadows suggests using those years to sketch a budget and list potential expenses. Future retirees may also want to consult a financial planner who can help them create a personalized plan.

At 50, don’t forget the extra boost to your savings thanks to catch-up contributions. “The catch-up contributions in the 401 (k) are there because you may not have saved enough in the past 20 years,” says Meadows. Workers aged 50 and over can contribute an additional $ 6,500 per year into their 401 (k) and an additional $ 1,000 into their IRA.

Your goal at age 60: Save 8 times your income.

In your sixties: reassess

“Now that you’re in your 60s, it’s a critical time to make sure you’ve saved enough,” Meadows says. If you find that this is not the case, it may help to take last minute measures that can save you a considerable amount of money, such as reducing your lifestyle.

Matt Rogers, CFP and director of financial planning at eMoney Advisor, also suggests getting a Social Security estimate from the Social Security administration to confirm the expected benefits. “It will help set expectations and make plans more realistic,” Rogers said. “Often, it is estimated that Social Security replaces 30-40% of pre-retirement income.” Remember to also check that retirement plans and pensions have the correct beneficiary.

Keep in mind that delaying the collection of Social Security does pay off. Although you can start receiving benefits at 62, you are entitled to 100% of the benefits when you reach full retirement age. Waiting until age 70 means that your benefit amount increases even more.

Your goal when you retire at 67: Save 10 times your income.

Track your retirement with these financial apps

EMoney’s financial and wellness planning mobile app, Incentive, is a useful tool for tracking retirement savings and comparing current pension plan balances with an income multiple based on age.

Another popular option with retirement savings is the Personal Capital budgeting app. In addition to being a basic budgeting app, Personal Capital acts as an investment tool related to your bank accounts and credit cards, as well as IRAs, 401 (k), mortgages, and loans. Its money tracking dashboard makes it easy to have an overview of all your personal finances in one place.

Editorial note: Any opinions, analysis, criticism or recommendations expressed in this article are the sole responsibility of the editorial staff of Select and have not been reviewed, endorsed or otherwise approved by any third party.


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How Much Money Do Millennials Really Make? http://howtooccupy.org/how-much-money-do-millennials-really-make/ Sat, 25 Sep 2021 20:28:18 +0000 http://howtooccupy.org/how-much-money-do-millennials-really-make/ Select’s editorial team works independently to review financial products and write articles that our readers will find useful. We may receive a commission when you click on product links from our affiliate partners. Your income allows you to pay for shelter and food, save for retirement, and achieve other life goals. Some people are fortunate […]]]>

Select’s editorial team works independently to review financial products and write articles that our readers will find useful. We may receive a commission when you click on product links from our affiliate partners.

Your income allows you to pay for shelter and food, save for retirement, and achieve other life goals. Some people are fortunate enough to be able to meet all of their needs and wants with just one main source of income. Others, however, must stretch each paycheck to cover their basic expenses. And according to a report by the TIAA Institute, Millennials are the generation most likely to face financial hardship in areas such as paying off debt and saving money.

Millennials – ranked by the Pew Research Center as people born between 1981 and 1996 – have garnered a ton of attention as a generation struggling to balance the costs of their lifestyle with their financial goals. And a big part of that imbalance could come from not making enough money to float their costs.

According to data from the US Census Bureau, the median before-tax household income of millennials was $ 71,566 in 2020. However, a Sunmark Credit Union study on the spending habits of different generations found that millennials spends an average of $ 208.77 per day. This includes the average daily costs for groceries, shelter, utilities, insurance, entertainment, dining out and more. That number equates to $ 1,461.39 spent weekly and $ 5,845.56 per month. But by the end of the year, the average person will have spent $ 70,146.72 – just below the millennial median income.

Spending almost as much as they earn each year means there is less room to save for emergencies or invest for retirement. But with the average cost of rent – Millennials’ biggest expense – weighing $ 1,584 for a studio apartment and $ 1,636 for a one-bedroom in the United States, many millennials find that their paychecks just aren’t. sufficient to enable them to keep pace with the costs of daily living.

Factors Affecting Millennial Income

The 2008 recession took a toll on millennials. Lack of jobs meant fewer millennials could earn income or advance their careers, slowing them down financially. In fact, a report by a nonprofit group called Young Invincibles found that the 2008 economic downturn cost young workers about $ 22,000 in lost income per person.

Even after unemployed millennials finally found jobs in the years after the recession, their wages fell. The Hamilton Project, an economic analysis by the Brookings Institute, found that before the economy-related job losses, millennials were earning about $ 3,640 per month, which works out to $ 43,700 per year. But two years after the onset of the recession, those who found a job were earning an average monthly income of just $ 1,910 ($ 23,000 per year). Millennials had to find their way to overcome this huge income gap.

And while the COVID-19 pandemic of 2020 had an effect that occurred across all age groups, it seemed like millennials were still taking a hit, as they are the largest generation currently on the planet. labor market. According to the Pew Research Center, 30% of Americans between the ages of 30 and 49 report that they, or a member of their household, have lost their jobs due to the pandemic. However, it may still be too early to see the full impact of the pandemic on the income potential of millennials.

How millennials can keep more of their money

While the problem of low wages won’t be solved overnight, there are ways for millennials to keep more of their money. and adding new sources of income. Side activities have grown in popularity as a way for workers to supplement their income, save more, and even have extra pocket money. And while the extra money can go a long way, Millennials can also consider cutting some “silent costs” that eat away at their money, like interest charges and recurring monthly expenses that they may have forgotten about.

The Mint app can analyze your income and expenses and help you budget based on your spending habits. This can help you find unnecessary or unwanted expenses so that you can save extra money.

And while credit cards can be a useful financial tool when it comes to accumulating credit and earning reward points and cash back, you get hit with interest when you don’t pay your balance. In totality.

If you already have a balance that seems difficult to pay off, you may want to consider using a balance transfer card with a 0% APR introductory period. Consider the cards below:

American bank Visa® Platinum card

On the secure site of US Bank

  • Awards

  • Welcome bonus

  • Annual subscription

  • Intro APR

    0% for the first 20 billing cycles on balance transfers and purchases *

  • Regular APR

    14.49% – 24.49% (variable) *

  • Balance transfer fees

    Either 3% of the amount of each transfer or $ 5 minimum, whichever is greater

  • Foreign transaction fees

  • Credit needed

Wells Fargo Active Cash Card℠

  • Awards

    2% unlimited cash rewards on purchases

  • Welcome bonus

    $ 200 cash rewards bonus after spending $ 1000 on purchases in the first 3 months of account opening

  • Annual subscription

  • Intro APR

    0% APR on qualifying purchases and balance transfers during the first 15 months from account opening

  • Regular APR

    14.99% to 24.99% variable on purchases and balance transfers

  • Balance transfer fees

    3% launch fee ($ 5 minimum) for 120 days from account opening, then up to 5% ($ 5 minimum)

  • Foreign transaction fees

  • Credit needed

If you are in control of your credit card payments, you can also use your card to earn extra money while shopping. You might consider a credit card with a big welcome bonus, like the Chase Sapphire Preferred® card or the Citi Premier® card. Welcome bonuses allow you to earn a large amount of points by opening a card and spending a certain amount of money within a specified amount of time.

With the Chase Sapphire Preferred® Card, you can earn 100,000 points (valued at $ 1,250 for travel booked through the Chase Travel portal or $ 1,000 in cash back) if you spend $ 4,000 over the course of the first three months after opening the card. You can use the card to pay for your regular expenses – and you should be able to reimburse them right away since you would be spending on fees that you would have to pay anyway – and then use your points for a vacation you really want. to take.

Finally, you can invest your money and make it grow on its own over time. When you keep all of your money in a regular savings account, your money loses value over time due to inflation, which means it will offer you less and less over the years. Investing, however, gives your money the opportunity to grow even if you don’t make additional contributions (however, the more you contribute, the more it will grow). If you’re new to investing, you might consider robo-advisers like Wealthfront and Betterment, who can invest your money in portfolios that best suit your goals.

Wealth front

On the secure Wealthfront site

  • Minimum deposit and balance

    Minimum deposit and balance requirements may vary depending on the investment vehicle chosen. Minimum deposit of $ 500 for investment accounts

  • Costs

    The fees may vary depending on the chosen investment vehicle. No account, transfer, transaction or commission fees (fund ratios may apply). Wealthfront’s annual management advisory fee is 0.25% of your account balance

  • Premium

  • Investment vehicles

  • Investment options

    Stocks, bonds, ETFs and cash. Additional asset classes to your portfolio include real estate, natural resources, and dividend-paying stocks

  • Educational resources

    Offers free financial planning for college planning, retirement, and home buying

At the end of the line

Millennials have already lost a lot of ground in terms of income thanks to the 2008 recession and now the Covid-19 pandemic. But by taking a few small steps, like using credit cards that allow them to save on interest, invest, and supplement their income through side activities, millennials can begin to find a better balance between this. what they need and what they can afford.

Editorial note: Any opinions, analysis, criticism or recommendations expressed in this article are the sole responsibility of the editorial staff of Select and have not been reviewed, endorsed or otherwise approved by any third party.


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Arrest warrant issued for Brian Laundrie for “unauthorized use” of credit cards linked to the Gabby Petito affair http://howtooccupy.org/arrest-warrant-issued-for-brian-laundrie-for-unauthorized-use-of-credit-cards-linked-to-the-gabby-petito-affair/ Fri, 24 Sep 2021 01:21:41 +0000 http://howtooccupy.org/arrest-warrant-issued-for-brian-laundrie-for-unauthorized-use-of-credit-cards-linked-to-the-gabby-petito-affair/ Lawyer says indictment is first element in larger laundry case Evan Axelbank Reports NORTH PORT, Florida – Brian Laundrie is now officially a wanted man. While police previously classified him only as a missing person of interest in Gabby Petito’s disappearance, the FBI now says there is an arrest warrant against his arrest. The FBI […]]]>

Brian Laundrie is now officially a wanted man. While police previously classified him only as a missing person of interest in Gabby Petito’s disappearance, the FBI now says there is an arrest warrant against his arrest.

The FBI says Laundrie, 23, was indicted by a grand jury on charges “relating to Mr. Laundrie’s activities after the death of Gabrielle Petito.”

UPDATES: Brian Laundrie helps FBI help grid search of 25,000 acre wildlife preserve

In documents released by investigators, the FBI indicates that Laundrie will be charged with intent to defraud for one or more unauthorized uses of a Capital One Bank card, between August 30 and September 1, for an amount of more than $ 1,000. The indictment does not specifically say who owns the cards.

Gabby Petito case: How to tip the FBI

“While this warrant allows law enforcement to arrest Mr. Laundrie, the FBI and our partners across the country continue to investigate the facts and circumstances of Ms. Petito’s homicide,” The FBI said in a press release. “We urge those with knowledge of Mr. Laundrie’s role in this case or his current location to contact the FBI.”

PDF: View the indictment and warrant documents here

Laundrie family attorney Steven Bertolino responded to the FBI arrest warrant by telling Fox News: “I understand the arrest warrant for Brian Laundrie is related to activities that took place after Gabby’s death. Petito and not his actual disappearance. The FBI is focusing on the whereabouts of Brian and when that happens, the details of the charges covered by the indictment will be dealt with in the appropriate forum. “

RELATED: Confident audience of ex-America’s Most Wanted host will find Brian Laundrie: “Our hotline has exploded”

Shortly before the FBI’s announcement, a North Port law firm said it would offer $ 20,000 for information leading to Laundrie’s location, adding pressure to anyone who may have information about the ‘case.

Legal analysis of the laundry indictment

The indictment against Brian Laundrie is a single count and says he committed fraud by using a debit card to withdraw over $ 1,000. Legal analyst and defense lawyer Anthony Rickman says the charge is simple, but it becomes an important piece of a big puzzle.

“By putting in the PIN, he did not have permission to do so, he used his credit card without his consent,” Rickman said, although the indictment does not specify that he is. was the Gabby card used by Laundrie.

Rickman suspects that for the act of using someone else’s credit card to be part of an indictment in a case of this magnitude, prosecutors are using the prosecution to further establish a timeline for Gabby and Brian. The last text from her phone was sent on August 27. Brian returned home on September 1st.

The indictment says the card was used on August 30.

“When you use a card, use an ATM, there’s a camera attached to it. We’ll see its image when it uses that card. It will help law enforcement,” Rickman said.

The arrest warrant that accompanies the indictment says Brian Laundrie must appear before a US magistrate without unnecessary delay. While it’s still not clear whether anyone will be charged in the death of Gabby Petito, who was ruled a homicide, there is now a charge he must face.

“And does that mean that when they have it, he goes straight to a judge?” FOX 13’s Evan Axelbank asked Rickman.

“Right to a judge, in custody, no ifs, no buts,” Rickman replied.

Brian Laundrie’s research continues

The laundry has not been seen for over a week. Law enforcement searched a 25,000-acre reserve near his home in North Port, Florida, based on information from his parents regarding his last known location.

Laundrie’s parents told police their son left on Tuesday, September 14, to go camping on the Carlton Reservation. His parents told investigators they went to the reservation on Wednesday and saw their son’s car there, but not Brian. They returned the next day and drove his vehicle home.

FOLLOWING: Gabby Petito survey: Who are Brian Laundrie’s parents?

The laundries then reported Brian’s disappearance the following night.

After Brian went missing, the search at Carlton Reserve began. Officers also removed wagons full of possible evidence from Laundrie’s house.

Brian Laundrie’s silver Ford Mustang was returned from custody to his parents on Thursday, who then left their home for several hours, with a police escort.

FOLLOWING: FBI Removes Ample Evidence From Laundrie Family Home In Connection With Gabby Petito’s Disappearance

Laundrie’s parents remained silent as the search for Gabby and then the search for their son expanded. Speaking only through a New York-based attorney, the family said early on that they would “stay in the background” as the search for Gabby began.

Gabby Petito’s family maintained that the Laundrie family knew more than they were willing to say, stating through their lawyer: “We think you know where Brian left Gabby. beg to tell us. As a parent, how could you Let us go through this pain and not help each other? As a parent, how could you bring this to Gabby’s younger siblings?

Gabby’s remains were discovered in Grand Teton National Park in the following days. A preliminary autopsy found her death to be homicide, but the cause of her death was still under investigation.

Anyone with information about the case is welcome to submit advice at: www.fbi.gov/petito

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4 workarounds to book your fall vacation rental with points http://howtooccupy.org/4-workarounds-to-book-your-fall-vacation-rental-with-points/ Wed, 22 Sep 2021 11:09:57 +0000 http://howtooccupy.org/4-workarounds-to-book-your-fall-vacation-rental-with-points/ Even before the pandemic, home booking sites like Airbnb and Vrbo were becoming increasingly popular with travelers. The opportunity to have a homely experience, with a full kitchen, additional living space, and a local flavor, was more appealing than a standard hotel room for many. Arlyce Melheim of Stillwater, Minnesota, likes to book homes for […]]]>

Even before the pandemic, home booking sites like Airbnb and Vrbo were becoming increasingly popular with travelers. The opportunity to have a homely experience, with a full kitchen, additional living space, and a local flavor, was more appealing than a standard hotel room for many.

Arlyce Melheim of Stillwater, Minnesota, likes to book homes for family trips rather than regular hotel rooms. “I like vacation rentals that feel warmer and are often in a neighborhood rather than a row of hotels,” she says.

During the COVID-19 era, home rentals became even more attractive. Travelers could enjoy a much needed change of scenery but not be surrounded by other people in a crowded hotel. They could rent a house large enough to accommodate friends and family in their “bubble” and have a comfortable shared experience.

The problem? For many savvy travelers who like to use reward points to cover accommodation costs, most major vacation rental companies don’t have loyalty programs. This means that when you book one trip you cannot earn points that can be redeemed for the next one. You also cannot sign up for a co-branded credit card and earn rewards for your next rental stay.

But booking a house with points is not impossible. And with fall approaching, you might be looking to book a comfortable getaway for a weekend of foliage viewing and apple picking. Here are some options for using your credit card or hotel rewards to help pay for your next vacation rental.

1. USE CASH REWARDS

One simple option is to use the rewards earned on a cash back credit card and invest that money into renting your home. If you have good credit, there are a variety of credit cards. available that offer up to 5% cash back on select purchases, often at no annual fee.

And as Winnie Sun, Financial Advisor and Managing Director of Sun Group Wealth Partners, notes, “Even though it’s not a cash back credit card, you can often redeem your points for cash. . Many credit card points that are typically redeemed for travel can also be converted to cash, although you might not get the best value for your money.

Plus, unlike some travel rewards, when using cash you won’t be bound by blackout dates or fine print restrictions.

2. ‘DELETE’ YOUR FEES

Some travel credit cards offer the ability to book any trip you like and “wipe” the purchase with statement credit. Here’s how it works: Use the card to pay for your vacation home rental. Then, once the debit is complete, log into your credit card account, select the purchase, and redeem your rewards to cover the cost.

In some cases, there may be a limit on the length of time that charges can be cleared with statement credit. Make sure you know the conditions before planning this option.

3. USE FLEXIBLE POINTS

Major credit card issuers like Chase, American Express, and Citi have their own reward points that cardholders can earn and use in a variety of ways. While most of the options you’ll find when redeeming points for travel are traditional hotels, it’s also possible to find vacation rental bookings.

Melheim used Chase Ultimate Rewards points to book a vacation home rental for his family’s trip to Switzerland. The house was available for rent directly on several home rental sites, but when she also found it on the Chase travel portal, she jumped at the opportunity to redeem her points. “I knew Switzerland was an incredibly expensive country,” she says. “Saving money and booking with points instead was helpful as our field costs like food and trains added up quickly.” Some Chase cards offer up to 50% more redemption value when you use points for travel booked through the issuer portal.

4. REVIEW LARGE CHANNELS

While traditional hotel settings are still bread and butter for most hotel chains, home rental options are slowly springing up. Marriott, for example, has a Homes & Villas affiliate that allows you to redeem Marriott Points for house reservations. Wyndham has a partnership with Vacasa, a leading home rental platform.

Sun points out that it is also possible to find comfortable accommodation in some hotels. “If you’re looking for more space than standard hotel rooms, consider using your points to book a suite. Or, some hotels have options like casitas that are more private. Some hotel chains have completely apartment-style signs and also offer additional space and amenities.

Booking comfortable accommodation through a hotel program can be smart, as there may be more flexible cancellation options. With many home booking platforms, the host can choose a cancellation policy which may not be fully refundable. Sun advises, “No matter what you book, be sure to read the cancellation policy carefully.”

__________________________________

This article was provided to The Associated Press by the NerdWallet personal finance website. Erin Hurd is a writer at NerdWallet. Email: ehurd@nerdwallet.com. Twitter: @ ErinHurd1.

RELATED LINK:

NerdWallet: How to choose a cashback credit card https://bit.ly/nerdwallet-cash-back-card


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How Families With Income Up To $ 50,000 Used Child Tax Credit Checks http://howtooccupy.org/how-families-with-income-up-to-50000-used-child-tax-credit-checks/ Tue, 21 Sep 2021 17:20:17 +0000 http://howtooccupy.org/how-families-with-income-up-to-50000-used-child-tax-credit-checks/ Half Point Images | instant | Getty Images New data on monthly child tax credit payments shows how parents earning up to $ 50,000 a year are using the extra money. They invest it. Monthly checks began in July and include up to $ 300 per child under 6 and $ 250 per month for […]]]>

Half Point Images | instant | Getty Images

New data on monthly child tax credit payments shows how parents earning up to $ 50,000 a year are using the extra money. They invest it.

Monthly checks began in July and include up to $ 300 per child under 6 and $ 250 per month for children 6 to 17.

The payments are part of the expanded temporary children’s tax credit, created by the American Rescue Plan earlier this year. In total, the extended credit can reach $ 3,600 per child under 6 and $ 3,000 per child aged 6 to 17. It is against $ 2,000 per child before the law.

More from Personal Finance:
Time is running out to sign up for the Child Tax Credit Advance Checks
Federal paid family leave policy could arrive in the United States
Stimulus checks and unemployment benefits reduced poverty in 2020

New search for Investnet | Yodlee, a data aggregation company that provides account aggregation services, examines how families with incomes of $ 50,000 and less spent the first two monthly checks.

Although the extended credit has certain income thresholds, families in this income category are eligible for the full amount.

Envestnet | Yodlee found that these families generally focused on transferring or saving the initial July payments. The second checks issued in August were mainly for securities transactions.

To get these results, the company looked at about 1 million customers at financial institutions representing a mix of those who received the tax credit and those who didn’t, according to Bill Parsons, chairman of the data group. and analysis at Envestnet | Yodel.

“Basically they saved the first and invested the second,” Parsons said.

Research only shows that the funds were transferred to a securities account. It is not possible to say for what purposes consumers were allocating funds, including whether these were short-term or long-term goals.

What the research shows is a marked difference in spending trends compared to the summer of 2020, when government stimulus controls led to an increase in discretionary spending, Parsons said.

Now, recipients of child tax credit checks are more likely to use the money to pay off their credit cards, insurance, mortgages or rent, he said.

However, the second check issued in August showed an increase in investment activity. Certainly, since the data comes from consumer accounts at financial institutions, these individuals may be more inclined to invest the funds than other recipients of child tax credit payments.

The Investnet | The Yodlee team is currently evaluating the September payments data.

The IRS announced on Sept. 15 that it had rolled out about $ 15 billion in monthly advance payments to about 35 million families. Additional payments are scheduled for October 15, November 15, and December 15.

Monthly payments will expire at the end of this year, unless Congress extends the program. House Democrats have proposed to maintain the expanded child tax credit and monthly payments until 2025.


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M2P acquires the Wizi credit card sourcing start-up http://howtooccupy.org/m2p-acquires-the-wizi-credit-card-sourcing-start-up/ Tue, 21 Sep 2021 00:30:00 +0000 http://howtooccupy.org/m2p-acquires-the-wizi-credit-card-sourcing-start-up/ Fintech M2P start-up, which specializes in providing digital banking infrastructure to businesses as well as banks, has acquired credit card sourcing start-up Wizi, M2P co-founder Madhusudanan R. The acquisition is expected to strengthen its plug and play credit card platform. Sources close to the development said the deal was a mix of cash and stock, […]]]>
Fintech M2P start-up, which specializes in providing digital banking infrastructure to businesses as well as banks, has acquired credit card sourcing start-up Wizi, M2P co-founder Madhusudanan R. The acquisition is expected to strengthen its plug and play credit card platform.

Sources close to the development said the deal was a mix of cash and stock, and valued Wizi at around $ 5 million. M2P’s founders declined to comment on the details of the deal.

Chennai-based M2P, also known as Yap, earlier this year launched a programmable credit card platform that allows banks and fintech companies to integrate and use programming interfaces of ‘applications (API) to offer customizable corporate and commercial credit cards to its customers.

The acquisition aims to strengthen this coin, Madhusudanan said.

Wizi is a credit card-focused financial technology company that, through its programs, provides digital services to bank credit card customers.

It handles both sourcing and management of credit cards, be it benefits, offers, revolving credit management, etc. The company said it has 300,000 users through its app.

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“We rolled out the programmable credit card stack in March of this year and in the first 6 months we signed up to over half a dozen banks; We realized that most of the banks in the card issuance space did not have digital issuance capabilities coupled with most legacy products lacking basic mobile interfaces for customers to manage their credit accounts. credit card – Wizi gracefully fills these two gaps, ”Madhusudanan said.

The three co-founders of Wizi and its approximately 20 employees will join the M2P team, he added.

M2P raised $ 10 million led by Flourish Ventures and Omidyar Network in its last funding round in March 2021.

The startup has raised $ 15 million to date and has Beenext, Better Capital and angel investors such as Ashneer Grover of BharatPe, Alok Mittal of Indifi, Amrish Rau of Pine Lab and Kunal Shah of Cred as investors.

The firm was founded in 2014 by Madhusudanan, Muthukumar A and Prabhu R.

The startup specializes as an API infrastructure company that helps businesses connect and deploy their own branded products.

The company said it works with more than 500 FinTech companies, internet platforms, banks and financial institutions as product providers, providing end-to-end program management services through services such as debit, credit, prepaid, QR, Unified Payments Interface and other payment solutions.

Its API products have been used by leading technology companies such as Ola, Slice, Cred, Razorpay, among others, he said.


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New rule on direct debit transactions from next month http://howtooccupy.org/new-rule-on-direct-debit-transactions-from-next-month/ Mon, 20 Sep 2021 05:42:30 +0000 http://howtooccupy.org/new-rule-on-direct-debit-transactions-from-next-month/ Starting next month, automatic payment rules are subject to change. The Reserve Bank of India (RBI) has previously said that recurring transactions using debit cards, credit cards, a unified payment interface (UPI) or other prepaid payment instruments (PPI) will require factor authentication. additional (AFA). A large number of credit and debit card users have set […]]]>

Starting next month, automatic payment rules are subject to change. The Reserve Bank of India (RBI) has previously said that recurring transactions using debit cards, credit cards, a unified payment interface (UPI) or other prepaid payment instruments (PPI) will require factor authentication. additional (AFA). A large number of credit and debit card users have set automatic payment instructions for a number of services ranging from electricity and gas to music and movie subscriptions, and the new rules have threatened to collapse. wreak havoc for millions of users.

Banks have started to inform their customers about this new rule. “As per RBI’s recurring payment guidelines, wef 20-09-21, the standing instructions on your Axis bank card (s) for recurring transactions will not be honored. You can pay the merchant directly by using your card for uninterrupted service, ”reads a communication from Axis Bank.

In December, the RBI granted more time to migrate to the new framework by March 31, following a request from the Association of Indian Banks (IBA), which was later pushed back to October 1, 2021. . framework beyond the extended deadline will now attract strict surveillance measures, ”the RBI said.

“In accordance with the RBI guidelines on ‘Electronic Mandate Processing on Cards for Recurring Transactions’, as of October 1, 2021, existing / new standing instructions that have been / are registered without an additional authentication factor will be not processed. We will implement the solution as soon as possible ”, indicates Axis Bank on its portal.

RBI’s new rule on automatic debit and credit card payments from October 1: all you need to know

1) Any standing instructions put in place on your credit card and debit card (both domestic and international) will not be processed without the additional factor of authentication.

2) The registration, modification, deletion of the mandate will require an additional factorial authentication (AFA)

3) Customers will receive a pre-debit notification (SMS / email) 24 hours prior to debit

4) Customers can unsubscribe from the transaction or mandate via the link provided in the pre-direct debit notification

5) Customers will have the option to view / modify / cancel all standing instructions set on their card

6) Customers can set a maximum amount for each SI. If the transaction amount is greater than the maximum amount assigned by the customer, the pre-debit notification will include a link allowing the customer to authenticate transactions with AFA. Without this authentication, the transaction will not be processed.

7) Any recurring transaction for an amount greater than ??5,000 will require the AFA each time the amount is debited.

8) If Standing Instructions for Bill Payments are posted to your bank account, there will be no change. If they are on your bank’s debit or credit card, they will be declined from October 1, 2021. For example, IF given on Netflix, Amazon, insurance payments will be disabled. However, SIs registered using bank accounts for mutual funds, SIPs, and EMIs will continue.

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New to using a credit card? 5 pitfalls to avoid http://howtooccupy.org/new-to-using-a-credit-card-5-pitfalls-to-avoid/ Sun, 19 Sep 2021 16:00:37 +0000 http://howtooccupy.org/new-to-using-a-credit-card-5-pitfalls-to-avoid/ Credit cards can be a useful financial tool, as long as you use them well. If you’re new to credit cards, here are some pitfalls to avoid at all costs. One Email a Day Could Save You Thousands Expert tips and tricks delivered straight to your inbox that could help save you thousands of dollars. […]]]>

Credit cards can be a useful financial tool, as long as you use them well. If you’re new to credit cards, here are some pitfalls to avoid at all costs.

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Many credit cards offer signup bonuses, granting you cash back or reward points for spending a certain amount shortly after opening your account. For example, you can get a new credit card that offers $ 300 cash back for an expense of $ 2,000 within three months of setting up your account.

There’s nothing wrong with looking for a signup bonus, but don’t make the mistake of spending too much money to grab one. If you normally charge $ 1,500 on a credit card over three months, but force yourself to spend $ 2,000 to claim your bonus, you won’t really make any money. If anything, you could end up in the hole. The only exception is if you already have a $ 500 purchase to make during that time, instead of spending $ 500 on additional items to claim a bonus of just $ 300.

2. Make only your minimum payments

Credit cards give you the option of paying a minimum portion of your total balance each month and carrying the rest forward. It might seem like a practical option, but be careful. If you only pay your minimums month after month, you earn interest on your remaining balance. The result? You spend more money on the items you billed.

3. Pay your bills without first consulting your statements

Many people pay their credit card bills every month without actually looking at their statements. Don’t skip it – you never know when your statement may contain a bad or fraudulent debit, and if you don’t fix it, you pay the bill. Plus, you never know when your statement may contain duplicate charges for the same purchase. Read your statement carefully before paying it.

4. Take a cash advance

Many credit cards offer cash advances, and if you need cash in a pinch, this might seem like a good option. But cash advances can be expensive. You usually start earning interest on a cash advance right away, and you’ll likely have to pay a fee to access that money. You’d better find other ways to access the cash when you need it. You might, for example, consider taking out a personal loan instead.

5. Not paying attention to the end of your introductory APR period

Some credit cards come with a 0% APR introductory period during which you won’t be charged any interest on your purchases. It can be tempting to take advantage of this leeway. But these introductory periods don’t last forever, and your interest rate could skyrocket at the end of your introductory period. Make sure you understand the terms of your 0% introductory period before taking advantage of it.

Credit cards are convenient, and in many cases, they reward you for purchases you had previously planned to make. Just avoid these dangerous traps along the way.


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What to Know About Child Tax Credit Payments in September – Forbes Advisor http://howtooccupy.org/what-to-know-about-child-tax-credit-payments-in-september-forbes-advisor/ Sat, 18 Sep 2021 20:47:00 +0000 http://howtooccupy.org/what-to-know-about-child-tax-credit-payments-in-september-forbes-advisor/ Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but this does not affect the opinions or ratings of our editors. You may want to check your bank account – the last monthly tax credit was issued on September 15th. This is the third of six monthly […]]]>

Editorial Note: Forbes Advisor may earn a commission on sales made from partner links on this page, but this does not affect the opinions or ratings of our editors.

You may want to check your bank account – the last monthly tax credit was issued on September 15th. This is the third of six monthly payments allowed under the American Rescue Plan (ARP), although some families may receive their first payments this month. month.

This batch of payments, totaling about $ 15 billion, affects about 35 million families, according to the IRS. The majority of families will receive their payments by direct deposit.

The current expansion, while temporary, has proven to be a vital financial lifeline for families. Households with children have experienced a decline in food insufficiency (sometimes or often not enough to eat) since the payments began to be distributed, according to data from the Census Bureau Household Pulse Survey.

The ARP increased the 2021 child tax credit from a maximum of $ 2,000 per child to $ 3,600. Families can receive 50% of their child tax credit in monthly installments between July 15 and December 15. Families with eligible children can receive up to $ 300 per month per child under 6 and $ 250 per child 6 to 17.

Here are answers to some common questions about monthly child tax credit payments.

Estimate the payment of your child tax credit

What if this is my first payment?

Some households may not have received payment in July or August because they were found to be ineligible due to outdated income or family size information on file with the IRS. After updating their information, these households receive their first monthly payment in September.

As these payments are spread over four months instead of six, the monthly payments will be larger. For example, each payment will be up to $ 450 per month for each child under 6 and up to $ 375 per month for each child aged 6 to 17, according to the IRS. Overall, these households will receive the same total amount as everyone else (up to $ 3,600).

My other payments were on time but I haven’t received this one yet, why?

There are reports of people not yet receiving their September Child Tax Credit payment, despite being registered and receiving the other two payments on time. A Reddit thread on the matter has collected more than 200 comments from people claiming not to have received their payment. Some users say they spoke directly to the IRS and were told there had been a “glitch” in the system and that payments would be sent as soon as possible.

The IRS acknowledged the late payments in response to a request from Forbes Advisor. He did not say how many people are affected by the delay or when they can expect to receive their payments; however, he said he was “reviewing this situation” and would provide more information as soon as possible.

What if I am eligible but haven’t received any of my payments?

The distribution of monthly child tax credit payments is automatic. If you still haven’t received a payment, the IRS probably doesn’t have the right information on file.

If you need to file a tax return, you must submit your 2019 or 2020 tax return to the IRS for processing. If you don’t usually file a return and don’t plan on doing so, you can easily sign up for your monthly payments online at GetCTC.org. The new online tool is mobile-friendly and offers registration services in English and Spanish.

If your tax returns are up to date with the IRS, but your circumstances have changed since filing – you may have adopted or given birth since then – you will also want to update your dependent information and your income directly from the IRS to the child. Tax credits update portal.

Remember to verify that the IRS has your correct banking information. This can be checked and changed in the portal. People who receive their payments by physical checks should be patient; the IRS says it could take until the end of September for mail delivery.

If all of your information is correct and you still have not received payment, you can request a payment record from the IRS.

Is this new extension of the child tax credit permanent?

For the moment no. But some experts and lawmakers are vying to set it in stone, pointing to its already significant benefits for families across the country.

The Senate is currently drafting the next budget bill, which could extend monthly child tax credit payments until 2025. The bill, which needs the support of all Democrats to go through reconciliation, meets already significant obstacles. Senator Joe Manchin (DW.Va.), who often disputes his party’s proposals, wondered how a permanent expansion of the child tax credit would work and who would qualify.

“Before I start saying, is this going to be permanent, this and that, let’s see how we do that,” Manchin said in a Sunday appearance on CNN’s State of the Union. “Let’s make sure we get it to the right people. He pointed out that families earning $ 400,000 but were still eligible for payments as a reason to assess the expansion.

On September 15, more than 400 of the nation’s top economists signed a letter to Congress urging it to make the expansion of the child tax credit permanent. They said the immediate and long-term benefits of the expanded tax credit would be “huge” for children and their families, especially in terms of reducing poverty and increasing tax revenues going forward. Since previous arguments against the expanded tax credit have claimed it is “welfare” for non-working families – something, Republicans say, will deter people from working – economists noted that it “would be unlikely to significantly reduce employment”.

Even if the expansion does not become law, that does not mean that the child tax credit will disappear completely. If no action is taken, it will revert to the pre-2021 version, where eligible families could claim up to $ 2,000 per eligible child under the age of 17, and they will receive a refund in the form of a lump sum payment after the deposit. their taxes.


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Account Specialist Wanted – Farm Credit Services of America | Works http://howtooccupy.org/account-specialist-wanted-farm-credit-services-of-america-works/ Sat, 18 Sep 2021 05:00:00 +0000 http://howtooccupy.org/account-specialist-wanted-farm-credit-services-of-america-works/ Country united states of americaUS Virgin IslandsMinor Outlying Islands of the United StatesCanadaMexico, United Mexican StatesBahamas, Commonwealth ofCuba, Republic ofDominican RepublicHaiti, Republic ofJamaicaAfghanistanAlbania, People’s Socialist Republic ofAlgeria, People’s Democratic Republic ofAmerican SamoaAndorra, Principality ofAngola, Republic ofAnguillaAntarctica (the territory south of 60 degrees S)Antigua and BarbudaArgentina, Argentine RepublicArmeniaArubaAustralia, Commonwealth ofAustria, Republic ofAzerbaijan, Republic ofBahrain, Kingdom ofBangladesh, […]]]>


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