long term – How To Occupy http://howtooccupy.org/ Sun, 20 Mar 2022 16:00:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://howtooccupy.org/wp-content/uploads/2021/07/icon.png long term – How To Occupy http://howtooccupy.org/ 32 32 After making history by partnering with a major credit bureau, fintech AI app CreditRich is now worth $1.5 billion https://howtooccupy.org/after-making-history-by-partnering-with-a-major-credit-bureau-fintech-ai-app-creditrich-is-now-worth-1-5-billion/ Sun, 20 Mar 2022 16:00:00 +0000 https://howtooccupy.org/after-making-history-by-partnering-with-a-major-credit-bureau-fintech-ai-app-creditrich-is-now-worth-1-5-billion/ Angel Rich and Courtney Keen met while studying at Hampton University. Since then, the two have remained business partners. They are the founders of CreditRich, an artificial intelligence fintech application. “CreditRich helps boost your credit score by using your spare change to pay your bills smartly,” he says on his website. It uses a proprietary […]]]>

Angel Rich and Courtney Keen met while studying at Hampton University. Since then, the two have remained business partners. They are the founders of CreditRich, an artificial intelligence fintech application.

“CreditRich helps boost your credit score by using your spare change to pay your bills smartly,” he says on his website.

It uses a proprietary algorithm to “help people improve their long-term financial situation by leveraging their credit and learning ‘credit intelligence’ to help users predict the impact of their credit behavior. “, said the founders. Forbes.

Rich launched the app in April 2021 in partnership with credit reporting agency Experian, making her the first black American woman to secure an institutional partnership with one of the three major credit bureaus, according to Forbes.

Rich told Forbes that she graduated from college with thousands of dollars in debt and understands people’s pain. She added that she was motivated by a desire to help young people develop their financial literacy. “We believe that anyone with a penny in their pocket should also have the necessary financial knowledge,” she noted.

CreditRich has achieved unicorn status following the company’s new partnership with Qolo, the omnichannel payment platform for Fintech. This means that CreditRich’s valuation has reached $1.5 billion.

The partnership should double the number of qualified customers for financial products as well as their purchasing power. According to black news. Users, after funding their CreditRich account, can set up automatic payments for online billing, improving their payment history and creditworthiness, Black News added.

“With the uncertainty facing the world, consumers are watching their credit now perhaps more than ever, and CreditRich is committed to providing innovative and accessible products that help them both build and protect that credit. “, said Rich, according to Black news.

“That’s why we’re thrilled to partner with the incredible team at Qolo, who simplify the payment model, streamline everything, and enable the continued acceleration of our business.” We have made incredible progress over the past year and CreditRich estimates that the sum total of this work brings our value to over $1.5 billion today.

Rich believes the latest partnership with Qolo will help reduce income inequality. The CreditRich application is available in beta version on the Android operating system.

“A high credit score gives you access to more affordable credit so you can pay for big-ticket items like college, a new car, or a house without the high interest rates. CreditRich helps you boost your score by prioritizing your debt, paying it off smartly and predicting how different actions will affect your score,” the app says on its website.

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In Recognition of National Consumer Protection Week, Attorney General Bonta Highlights Consumer Resources and ACJDO Priorities | State of California – Department of Justice https://howtooccupy.org/in-recognition-of-national-consumer-protection-week-attorney-general-bonta-highlights-consumer-resources-and-acjdo-priorities-state-of-california-department-of-justice/ Mon, 07 Mar 2022 15:13:51 +0000 https://howtooccupy.org/in-recognition-of-national-consumer-protection-week-attorney-general-bonta-highlights-consumer-resources-and-acjdo-priorities-state-of-california-department-of-justice/ Urges consumers to report violations of law to the California Department of Justice at oag.ca.gov/report OAKLAND – In recognition of National Consumer Protection Week, California attorney Rob Bonta today highlighted ongoing efforts to protect California consumers and urged consumers to report misconduct or violations of privacy laws. state consumers to the California Department of Justice […]]]>

Urges consumers to report violations of law to the California Department of Justice at oag.ca.gov/report

OAKLAND – In recognition of National Consumer Protection Week, California attorney Rob Bonta today highlighted ongoing efforts to protect California consumers and urged consumers to report misconduct or violations of privacy laws. state consumers to the California Department of Justice (DOJ) at oag.ca.gov/report. Complaints filed by the public play a vital role in the Attorney General’s consumer protection efforts by providing DOJ with important information about potential wrongdoing to help determine whether a company or individual should be investigated. Enforcement priorities at the DOJ include housing, debt collection, data privacy, higher education, and consumer lending.

“Many in California are buried under a mountain of debt: whether it’s student loans, credit card debt, mortgage payments, or all of the above,” Attorney General Bonta said. “In California, we have strong consumer protection laws, but unfortunately there are still those who seek to take advantage of them. Our team works around the clock to protect consumers and hold bad actors accountable, but we have need your help.If you have been exploited by a predatory lender, are facing abusive debt collection practices, have been unlawfully evicted, or have information about other violations of the law, please file a complaint with my office.The leads we get from the public help us identify where companies are trying to circumvent the law – and help us hold companies accountable.

LODGING: California is facing a housing shortage and affordability crisis of epic proportions. In November, Attorney General Bonta announced the creation of a housing strike force within the California Department of Justice and launched a housing portal on the DOJ website with resources and information for landlords. and California tenants.

The Housing Strike Force encourages Californians to send housing-related complaints or advice to housing@doj.ca.gov. The Housing Strike Force is particularly interested in advice relating to illegal evictions and rent increases, housing discrimination, and the origination and servicing of mortgages. Information about legal aid in your area is available at www.lawhelpca.org.

DEBT RECOVERY: State law protects Californians from abusive, unfair, or deceptive debt collection practices. Attorney General Bonta is urging Californians who receive a notice from a debt collector to respond as soon as possible, even if they don’t owe the debt. If you don’t, the collector may continue to try to collect the debt, report negative information to credit reporting companies, and even sue you.

Collection agents may not contact you repeatedly over a short period of time to annoy or harass you, make false or misleading statements, or contact you at unusual or inconvenient times or places. If you think a debt collector is breaking the law, you can file a complaint at oag.ca.gov/report. For more information on debt collection, go to oag.ca.gov/consumers/general/debt-collectors.

DATA PRIVACY: The California Consumer Privacy Act (CCPA) grants consumers groundbreaking rights over their personal information, including:

  • The right to know – Consumers can ask a company to tell them what specific personal information they have collected, shared or sold about them, and why it was collected, shared or sold.
  • Right to deletion — Consumers can ask a business to delete the personal information it has collected from the consumer, subject to certain exceptions.
  • Right of withdrawal — If a business sells its personal information, consumers can ask that it stop doing so.
  • Rights of minors — A company cannot sell the personal information of minors under 16 without their permission and, for children under 13, without parental consent.
  • Right to non-discrimination — A company cannot discriminate against consumers who exercise their rights under the CCPA.

For more information about the CCPA, visit oag.ca.gov/ccpa. To report a CCPA violation to the Attorney General, submit a complaint at oag.ca.gov/report. You can also use the Consumer Privacy Tool to directly notify businesses that don’t have a clear, easy-to-find “Do Not Sell My Personal Information” link on their homepage.

HIGHER EDUCATION: There is a $1.7 trillion student debt crisis in the United States, and the DOJ is committed to holding bad actors accountable for defrauding California students. If you believe you have been the victim of predatory lending, deceived by a for-profit college, or otherwise exploited, you can file a complaint with our office at oag.ca.gov/report.

California students can also take advantage of recent developments resulting from the work of the DOJ. In January, Attorney General Bonta announced a settlement with student loan manager Navient to resolve allegations of misconduct in the servicing and collection of federal student loans. Californians do not need to take any action to receive the benefits required under the settlement. More information about the settlement is available at www.NavientAGSettlement.com.

After years of effort by state attorneys general and others, the Biden administration recently announced a sweeping overhaul of the broken Public Service Loan Forgiveness (PSLF) and Temporary Public Service Loan Forgiveness programs. the extended public service (TEPSLF). Attorney General Bonta encourages Californians working in the government or nonprofit sector to take advantage of the Department of Education’s limited public service loan waiver waiver opportunity to receive credit for past payments made on loans that would otherwise not qualify under the PSLF program. Borrowers requesting loan forgiveness under the recent changes must take action by October 31, 2022.

READY FOR CONSUMPTION: Attorney General Bonta pledged to protect vulnerable California borrowers from predatory lenders and others who seek to take advantage. To that end, the Attorney General is urging Californians to report predatory lenders at oag.ca.gov/report.

Californians should also try to avoid certain loans when possible. To avoid getting stuck in a debt trap, avoid payday loans if you can. Payday loans can turn a short-term need for emergency cash into a long-term, unaffordable cycle of high-interest loans you can’t repay. In California, payday lenders can lend up to $300 and charge a maximum of $45 in fees. Although these fees do not seem too high, the average annual rate of payday loans is 372%. This is a much higher rate than most other loans or credit cards. You can contact the Department of Financial Protection and Innovation to verify a payday lender’s license, history of disciplinary action against a payday lender, or to file a complaint. You can also file a complaint with our office.

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Boomerang Employees: Returning with New Skills and Experiences https://howtooccupy.org/boomerang-employees-returning-with-new-skills-and-experiences/ Sun, 06 Mar 2022 15:00:53 +0000 https://howtooccupy.org/boomerang-employees-returning-with-new-skills-and-experiences/ In 2018, Lien Ceulemans left Salesforce for a new job at Google in London. She returned to the cloud software group, becoming a boomerang employee, last year. “People I worked with contacted me when a role presented itself.” His return was, in part, personal. She wanted a job in Brussels, to be close to her […]]]>

In 2018, Lien Ceulemans left Salesforce for a new job at Google in London. She returned to the cloud software group, becoming a boomerang employee, last year. “People I worked with contacted me when a role presented itself.”

His return was, in part, personal. She wanted a job in Brussels, to be close to her family. Professionally, it was a step forward, becoming a national leader at a time when the company is forging new ways of working in the wake of the pandemic.

Returning to a former employer had its advantages. Ceulemans already knew the culture. “If you already know the organization, it’s easier to get into it.” Over the past two years, many newcomers have had to deal with remote interviews, onboarding and working from home, which has made it particularly difficult to master their new organizations.

Anxious to fill labor shortages, employers have experimented with hiring parties, hiring bonuses, wage increases and benefits. Now some are considering former employees. According to LinkedInthe professional social network, 4.5% of new recruits on its platform were boomerangs last year compared to 3.9% in 2019. a former employer.

For the employer, there can be a financial windfall in hiring boomerangs, reducing recruitment and training costs, and increasing productivity. A study by Cornell University compared the work experiences of just over 2,000 boomerangs and nearly 11,000 new hires at a large US-based healthcare organization. He found that boomerangs outperformed new hires, particularly in roles that involved “relatively high levels of administrative coordination, such as project manager and purchasing officer that encompass planning, goal setting, planning and the application of organizational routines and rules”. And also in jobs that focus on cooperation with others within the company.

Caroline Gaffney, vice president of product and chief of staff to the chief executive of LinkedIn, who returned to the company four years ago after a stint at Instagram, would encourage people “in this time of great shake-up to think about businesses in which you worked”. for the past”.

Mike Ettling, managing director of Unit4, a cloud-based software company, says: “You’ve always been able to arbitrate talent, but now you have this phenomenon. [the Great Resignation] goes everywhere, the greatest technique to find [recruits] in another pond is gone. This means that employers will have to experiment.

Alumni Network

Alumni are increasingly important to recruiters, says Ettling. This could mean changing the way an employer frames staff departures. Rather than saying goodbye, he offers to welcome the newcomers into the network of graduates, a principle he practices himself. “Stop thinking it’s negative – they could potentially come back to us. Let’s see that as a positive. This mindset also changes the tone of exit interviews.” Too many people come into the conversation with a rescue approach . I will do better [talk] on how we can help you in the next role.

Maral Kazanjian, director of human resources at Moody’s, the rating agency, and herself a recent boomerang, says she has seen “organizations dealing [departing employees] as disloyal”. Andrea Legnani, global head of alumni relations at Citi, detects a shift in the company’s attitude toward recently departed staff. “Employers view graduates as an opportunity rather than a betrayal.” In the past, he says, alumni “were mostly retirees, now companies see alumni as employees of tomorrow.” The company estimates that around 10% of its current global workforce are boomerangs.

Caroline Gaffney, Vice President of Product and Chief of Staff to the Managing Director of LinkedIn, outside her home in Hillsborough, California

Caroline Gaffney, VP of Product and Chief of Staff to the Managing Director of LinkedIn, would encourage people ‘in this time of great reshuffle to think about the companies you’ve worked for in the past’ © Jason Henry/FT

An alumni network can help employers learn how to target boomerangs. Legnani says he learned that Citi employees in Africa were attracted to start-ups. “We were able to write a specific letter to [this population], saying there are jobs for tech workers. He also adds that alumni networks can change the way employees laid off as a result of a merger, for example, or a cost-cutting, feel about their former employer. They can feel rejected, he says, and an alumni network can provide a “different voice.”

However, employers should be aware that hiring from a historical talent pool could thwart efforts to diversify the workforce. Advocates of alumni networks argue that formalizing such structures would overcome informal networks of patronage.

Join the company

Nisha Vasan left The Walt Disney Company to join WeWork in March 2020 and joined the film and entertainment group earlier this year after a 12-month stint elsewhere. She says “it’s a joy to get on board when you already know some people”. This was especially the case after joining two organizations during the pandemic. “This is my third remote onboarding. The hardest part of being a new hire is building relationships. Familiarity is comforting, [knowing] the organizational structure, the way the teams work, made it transparent. However, the group she returned to is not exactly the one she left. “There have been a lot of changes in the company. You are not starting from scratch. You don’t start at 10, but somewhere [in between].”

Kazanjian at Moody’s says a boomerang should have “a curiosity about what [the organisation] it’s like today”.

Ettling says that in growing companies, boomerangs may find the company to be very different from the one they left. “The worst thing you can do is wait [a boomerang] Be well. I often receive e-mails from [them] saying, “Wow, the business is so different”.

While the job Gaffney held at Instagram was in an area she had previously worked in — product — the one she returned to on LinkedIn involved a steep learning curve. “I tried to come back with an open mind. I spent the first three to six months gathering information, understanding how the organization worked [rather than my] historical assumptions.

Emma Sinclair, Managing Director of EnterpriseAlumni, points out that “it’s not just people who grow [but] organizations too – coming back to something you know with new skills and experience is compelling”.

Returning employees are likely to have goodwill towards their employer, usually leaving for personal reasons (residence or family responsibilities) or a compelling job offer.

External experience

Ettling, whose Unit4 workforce numbers around 2,800, says he values ​​employees with experience in both large corporations and start-ups. “Small businesses give you [the ability to be] moving faster and more agile. You have the underdog moves. I always tell people when they’re thinking about their careers to try to get both.

While research indicates that boomerangs could outperform external hires, Alison Dachner, assistant professor of management at the Boler School of Business, John Carroll University, says that for long-term performance benefits, internal hires could prove more effective than convincing former employees to come back — boomerangs are likely for negotiating higher salaries and better job descriptions. Managers need to be aware of the impact of returning well-paid employees on the morale of their teams. This may send a signal that the only way to increase wages is to leave the company.

Dachner does not recommend that employers “hoard talent” but rather “improve ease of movement and role transitions.” Thus, graduates should be seen as “part of overall talent management which includes support for internal mobility”. Salesforce, for example, has a dedicated internal recruiting team to help employees find new opportunities within the company. Erin Makarius, an associate professor of management at the University of Akron in Ohio, says companies should focus more on promotions from within, having regular coaching or career interviews. “How often do employers say, ‘where do you want to go next?'”

Gaffney says LinkedIn executive chairman Jeff Weiner has a “next play” philosophy, where employees are encouraged to plan their next steps, including building careers that could include a move outside of the company. business. When she initially thought about leaving the group, the managers and mentors were “very supportive. It’s part of our culture to have open conversations,” including identifying their next opportunity and discussing how to reach it, including externally.

New York-based Amer Jan, a mortgage executive, is happy to have returned to Citi after 18 years. One aspect he noticed that differs from his previous stint is the confidence that comes with age. “If I have an idea, I’ll call people, I don’t care how long they’ve been.”

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ENCORE ENERGY ANNOUNCES FILING OF ANNUAL INFORMATION FORM AND UPDATED TECHNICAL REPORT https://howtooccupy.org/encore-energy-announces-filing-of-annual-information-form-and-updated-technical-report/ Wed, 02 Mar 2022 01:55:00 +0000 https://howtooccupy.org/encore-energy-announces-filing-of-annual-information-form-and-updated-technical-report/ TSX.V: EUOTCQB: ENCUFMarch 1, 2022www.encoreuranium.com CORPUS CHRISTI, Texas, March 1, 2022 /PRNewswire/ – enCore Energy Corp. (“bis“or the”Company“) (TSXV: EU) (OTCQB: ENCUF) is pleased to announce that it has filed its Annual Information Form for the year ended the 31st of December2020. The Annual Information Form is available under the Company’s SEDAR profile at www.sedar.com […]]]>

TSX.V: EU
OTCQB: ENCUF
March 1, 2022
www.encoreuranium.com

CORPUS CHRISTI, Texas, March 1, 2022 /PRNewswire/ – enCore Energy Corp. (“bis“or the”Company“) (TSXV: EU) (OTCQB: ENCUF) is pleased to announce that it has filed its Annual Information Form for the year ended the 31st of December2020. The Annual Information Form is available under the Company’s SEDAR profile at www.sedar.com and on the Company’s website at www.encoreuranium.com.

The Company has also filed a technical report prepared in accordance with National Instrument 43-101 – Disclosure standards for mining projects (“National Instrument 43-101“) as part of his crown stitch and the Hosta Butte uranium project located in the northwest New Mexico. The Technical Report is available under the Company’s SEDAR profile at www.sedar.com and on the Company’s website at www.encoreuranium.com.

Technical report discloses an indicated resource of 10.96 million tonnes grading 0.117% U3O8 for 25.7 million lbs U3O8, and an inferred resource of 2.98 million tonnes grading 0.107% U3O8 for an additional 6.4 million pounds of U3O8, both at a grade threshold of 0.02% and at a GT threshold of 0.25%. This report updates a previous technical report completed in 2012 to comply with current NI 43-101 standards. The previous technical report disclosed an indicated resource of 12.68 million tonnes grading 0.105% U3O8 for 26.6 million lbs U3O8 and an estimated inferred resource of 2.76 million tonnes grading 0.110% U3O8 for an additional 6.1 million pounds of U3O8, both at a grade threshold of 0.02% and at a significantly lower GT threshold of 0.10%. The new resource figure is not considered a material change given the higher cut-off grade used.

The Technical Report was prepared by BRS, Inc. (“BRS“) whose principal author is Douglas L. Beahm, PE, PG, who is a principal engineer/geologist and consultant to BRS, and is independent of the Company. He is a qualified person for the purposes of NI 43-101. The co – independent authors of the technical report are Carl Warren, PE, PG, and Joshua Stewart, PE, PG, they are both employees of BRS and they are both qualified persons for the purposes of NI 43-101. Paul Goranson, Engineer, is also co-author of the Technical Report and is not independent of the Company. He is a qualified person for the purposes of NI 43-101.

About enCore Energy Corp.
With approximately 90 million pounds of U3O8 estimated in the measured and indicated resource categories, and 9 million pounds of U3O8 estimated in the inferred resource category1enCore is the most diversified in situ uranium development company in the United States. enCore aims to become the next producer of uranium from its licensed and formerly producing South Texas Rosita processing plant by 2023. South Dakota-based Dewey Burdock project and the Wyoming Gas Hills project offer medium-term production opportunities with New Mexico uranium resource endowments offering long-term opportunities. The enCore team is led by industry experts with in-depth knowledge and experience of all aspects of ISR uranium operations and the nuclear fuel cycle. For more information, visit www.encoreuranium.com.

dr. Douglas H. UnderhillCPG, the Company’s Chief Geologist and Qualified Person under NI 43-101, has approved the technical disclosure contained in this press release.

1Mineral Resource estimates are based on technical reports prepared in accordance with NI43-101 and available on SEDAR as well as on the Company’s website at www.encoreuranium.com.

Neither TSX, TSX Venture Exchange, nor its Regulation Services Provider (as that term is defined in the policies of the TSX and TSX Venture Exchange) accepts responsibility for the appropriateness or accuracy of this release.

SOURCE enCore Energy Corp.

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Business leaders highlight ESG priorities and performance https://howtooccupy.org/business-leaders-highlight-esg-priorities-and-performance/ Wed, 23 Feb 2022 16:39:49 +0000 https://howtooccupy.org/business-leaders-highlight-esg-priorities-and-performance/ Responsibility Our ESG Investor Event focused on our company’s long-term strategies related to access to health, employees, environmental sustainability, ethics and values Our company has a 130-year heritage of operating responsibly. Our inaugural Environmental, Social and Governance (ESG) investor event highlighted how we are building on this heritage to create lasting value for our business […]]]>
Responsibility

Our ESG Investor Event focused on our company’s long-term strategies related to access to health, employees, environmental sustainability, ethics and values

Our company has a 130-year heritage of operating responsibly. Our inaugural Environmental, Social and Governance (ESG) investor event highlighted how we are building on this heritage to create lasting value for our business and society.

At the February 23 virtual event for investors, analysts, media and members of the public, members of our leadership team outlined our business priorities and performance within our four ESG pillars: Access to health, employees, environmental sustainability, and ethics and values. .

“Our drive to make a difference for humanity – through the responsible invention, manufacture and delivery of vaccines and medicines – has remained constant and central,” said CEO and Chairman Rob Davis. “Our ESG efforts help fuel the actions necessary for the success of our business and our stakeholders.”

Here is an overview of some of these efforts:

Access to health

“Meeting the world’s unmet medical needs is central to Merck’s purpose and our ability to sustain long-term growth. This not only includes our investments in the development of innovative new products, but also ensuring that our products reach those who need them. Expanding patient reach and access is at the heart of our business and our ESG strategy. »

Eliav BarrSenior Vice President, Global Medical Affairs

Eliav Barr

Our efforts include:

  • Access planning during the product development process
  • Expanding access to our medicines and vaccines through collaborations and patient assistance programs
  • Advance health equity for underrepresented populations and people in low- and middle-income countries

Employees

“Seven decades of fostering a culture that embraces different perspectives and values ​​has taught us that inclusion creates competitive advantage for the organization. Additionally, by prioritizing the well-being of our employees, it supports our ability to continuously attract and retain highly qualified people, strengthen our competitiveness and reduce employee turnover. »

Steve MizellExecutive Vice President and Chief Human Resources Officer

Steve Mizell

Our efforts include:

  • Determine where we can remove barriers for underrepresented groups in our hiring process
  • Work with various suppliers
  • Provide tools and resources to support the physical, emotional and mental health, financial well-being and safety of employees

Environmental sustainability

“Through our three [environmental sustainability] priority areas of improving the efficiency of our operations, reducing the environmental impact of our products and packaging, and reducing environmental risks throughout our supply chain, we are further contributing to sustainability of our business by reducing risk, lowering costs and presenting opportunities for innovation. ”

Sanat ChattopadhyayExecutive Vice President and President, Merck Manufacturing

Sanat Chattopadhyay

Our efforts include:

  • Adopt a new set of climate goals, which include achieving carbon neutrality across all of our operations by 2025
  • Create an “energy roadmap” to help our facilities reduce energy demand and associated greenhouse gas emissions
  • Engage with suppliers to reduce environmental impact

Ethics & values

“We maintain our reputation as a trustworthy company by ensuring adherence to our Code of Conduct and Values ​​and Standards, reducing risk in our supply chain and fostering trust through our Safeguarding and data privacy.”

Jennifer ZacharieExecutive Vice President, General Counsel and Corporate Secretary

Jennifer Zacharie

Our efforts include:

  • Foster a culture in which employees feel they can freely voice concerns and report incidents that may conflict with our code of conduct and policies
  • Employ a third-party risk management team to establish, implement and monitor responsible and ethical sourcing practices
  • Commit to maintaining 100% compliance with regulatory requirements for active incident monitoring, risk/damage analysis and timely notification of data breaches

See a replay of the event

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Missouri State Taxes for the 2022 Tax Season – Forbes Advisor https://howtooccupy.org/missouri-state-taxes-for-the-2022-tax-season-forbes-advisor/ Wed, 16 Feb 2022 22:46:18 +0000 https://howtooccupy.org/missouri-state-taxes-for-the-2022-tax-season-forbes-advisor/ Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. The state of Missouri requires you to pay taxes whether you are a resident or a nonresident who receives income from a Missouri source. State income tax rates are up to 5.4% […]]]>

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

The state of Missouri requires you to pay taxes whether you are a resident or a nonresident who receives income from a Missouri source.

State income tax rates are up to 5.4% and the sales tax rate is 4.225%.

Missouri offers tax deductions and credits to reduce your tax liability, including a standard deduction, itemized deductions, charitable contribution credits, and a seniors’ property tax credit.

Missouri Income Tax Brackets and Rates

Income Tax Deductions for Missouri

Standard deduction

The state of Missouri offers a standard deduction for taxpayers. The 2021 standard deduction allows taxpayers to reduce their taxable income by $12,550 for single filers, $25,100 for joint filers of married persons, $18,800 for the head of household and $25,100 for joint filers. eligible widows/widowers.

Detailed deductions

You have the option of choosing the standard deduction or itemizing your deductions on your Missouri state tax return. However, if you were to itemize your deductions on your federal tax return, you must choose to itemize. You are required to itemize your deductions on your federal tax return if you file a marriage statement separately and your spouse chooses to do so.

Deduction for long-term care insurance

Taxpayers may be able to deduct the cost of long term care insurance premiums. The policy must be for at least 12 months of coverage.

Deduction for the purchase of a first home

Taxpayers who have contributed to a first-time home buyer account can deduct up to $800 of the amount contributed per year or $1,600 for married taxpayers filing jointly. Interest may be included in this deduction.

Achieve a deduction for contributing to a better life experience (ABLE)

Contributions to the Achieving a Better Life Experience (ABLE) program administered by the Missouri Achieving a Better Life Experience Board are tax exempt. The annual exempt contribution limit is $8,000 for singles or $16,000 for married couples filing jointly. To claim the deduction, you must include proof of your contributions when you file your taxes.

Missouri State Income Tax Credits

Food pantry, homeless shelter or soup kitchen tax credit

Taxpayers who contribute money or food to a food pantry, homeless shelter or soup kitchen can claim a non-refundable tax credit of 50% of the value of the contribution or amount donated. Donations to food banks and out-of-state organizations are not eligible for credit. The maximum credit you can claim in a year is $2,500 per person, and the claim cannot be more than your tax payable. If you contribute to more than one food pantry, shelter or soup kitchen, you will need to complete the MO-FPT form for each organization.

Tax credit for adoption with special needs

Missouri residents who adopt a child with special needs who is also a Missouri resident may receive a one-time non-refundable tax credit of up to $10,000 for adoption expenses per child. Since January 2022, if you adopt a child, you can claim the credit whether or not the child has special needs. However, the state will give priority to taxpayers who adopt a child with special needs. adoptions of any Missouri resident child will be eligible for the tax credit, regardless of special needs status.

Diaper bank tax credit

Donations of $100 or more to a diaper bank qualify for a tax credit of 50% of the donation. Donations can include cash, stocks, bonds, or real estate, and the organization must be a nonprofit organization located in Missouri. The credit cannot exceed your tax payable for the year and cannot exceed $50,000 per tax year.

Domestic violence shelter or rape crisis center tax credit

Donations of $100 or more to a domestic violence shelter or rape crisis center are eligible for a tax credit of 50% of the donation. Donations can include cash, stocks, bonds, or real estate, and the organization must be a nonprofit organization located in Missouri. The credit cannot exceed your tax payable for the year and cannot exceed $50,000 per tax year.

Maternity housing tax credit

Donations of $100 or more to a maternity hospital entitle you to a tax credit of 50% of the donation. Donations can include cash, stocks, bonds, or real estate, and the organization must be a nonprofit organization located in Missouri. The credit cannot exceed your tax payable for the year and cannot exceed $50,000 per tax year.

Health, hunger and sanitation tax credit

Donations to organizations that contribute to the health and hygiene needs of school-aged children may qualify for a tax credit of 50% of the donation. Donations can include cash, stocks, bonds, or real estate, and the organization must be a nonprofit organization located in Missouri.

Child Tax Credit Champion

Donations to a qualified court-appointed special advocate, children’s advocacy center, or crisis care center in Missouri may qualify for a tax credit of 50% of the donation. Your donation must be $100 or more to claim the credit.

Property tax credit

Missouri offers a tax credit to certain seniors and 100% disabled. The maximum value of the credit is $750 for renters and $1,100 for owners who occupied their dwelling. The amount of your credit depends on the amount of rent or property taxes you paid and your household income. Generally, the household income limit is $27,200 for single filers who rent and $30,000 for single filers who own their homes. For married couples who file returns jointly, the household income limit is $29,200 for renters and $34,000 for owners.

Do I have to pay income taxes in Missouri?

You are required to file a Missouri tax return if you receive income from a Missouri source.

There are a few exceptions:

  • You are a resident of Missouri and your state-adjusted gross income is less than $1,200
  • You are a nonresident and your Missouri income was less than $600
  • Your state-adjusted gross income is less than the standard state deduction for your filing status.

Residence status

Full-time and part-time residents of Missouri are subject to state income tax. Partial-year residents are taxed on income earned while in the state.

If you are a Missouri resident who paid taxes to another state, you can get a credit for the tax you paid by using Form MO-CR.

Sales tax and sales tax rate

Missouri charges a 4.225% sales tax.

Property taxes and property tax rates

Each county and city sets property tax rates.

Property tax exemptions

Missouri grants property tax exemptions to certain organizations using their property for educational, literary, scientific, religious, or charitable purposes.

Capital gains tax

Missouri allows taxpayers to report gains and losses from the sale of capital assets. Unlike federal income taxes, which allow taxpayers to have capital gains taxed at lower rates, the state of Missouri taxes capital gains as ordinary income.

Inheritance and inheritance tax and exemption from inheritance and inheritance tax

Missouri does not have an estate or inheritance tax.

Compare the best tax software of 2022

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Buying land to build a house? What you need to know about home loans https://howtooccupy.org/buying-land-to-build-a-house-what-you-need-to-know-about-home-loans/ Wed, 16 Feb 2022 20:47:12 +0000 https://howtooccupy.org/buying-land-to-build-a-house-what-you-need-to-know-about-home-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. If you’re looking to build your dream […]]]>

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.

If you’re looking to build your dream home and don’t know how to finance it, learn about home loans with this helpful guide. (Shutterstock)

Most home buyers look at existing homes for sale and buy one they like. But some buyers prefer to buy land and build their dream home on it. If this interests you, you may need a home loan to make it happen.

If you’re not sure what home loans are or if you should get one, this guide will cover what you need to know so you can decide if this option is right for you.

What are home loans?

The mortgage, also called land loan or land loan, is used to finance the purchase of land. Banks usually give these loans to borrowers who want to build a house or use the land for business purposes.

the the type of loan you need depends on the type of land you are buying. You have the choice between three types of home loans:

How do home loans work?

If you have enough money in your savings account, you may be able to buy the land you want with cash. Otherwise, you can apply for a home loan.

The different financing options to help you buy land each have their own qualification criteria. But certain guidelines apply across the board: you’ll generally need excellent credit and a down payment of 15% to 35% of the purchase price or more.

The Federal Deposit Insurance Corporation (FDIC) sets minimum down payment requirements for home loans, although some lenders may opt for higher down payments (up to 50%). The FDIC deposit requirements are as follows:

  • Earthen – 35% minimum deposit
  • Undeveloped land — 25% minimum deposit
  • Improved terrain — 15% minimum deposit

Because it can be expensive and complicated to develop land, lenders charge higher interest rates on home loans than traditional mortgages to mitigate their risk. Home loan repayment terms can be much shorter than standard conventional 15- and 30-year mortgages, as lenders seek to recoup their investment faster than with conventional home loans. But if you plan to build a house on the property, you may be able to secure a longer-term loan.

Although the terms and interest rates for land loans are different from those for mortgages, the loan process is similar. You will need to provide financial documents, such as pay stubs and bank statements, and the lender will review your credit report. As part of its underwriting process, the lender may ask you to provide information about how you intend to use the land.

Like a mortgage, if you are approved for a home loan, you will be obligated to pay off the balance with interest. But unlike mortgages, many home loans are often set up as “balloon mortgages.” This means that you will make few or no monthly payments, or only pay interest for a set period of time, before making a large lump sum payment to pay off the loan in full.

If you’re having trouble finding a home loan that meets your needs, you can consider a personal loan to help finance your purchase. Credible allows you Compare personal loan rates from multiple lenders, all in one place.

How much loan can you get?

The amount you can borrow with a home loan varies depending on the lender and the type of land you are buying. For example, a lender may approve a loan that finances 85% of the purchase price of improved land or it may offer to finance 65% of the cost of greenfield land.

As with conventional mortgages, the amount you can get for a home loan depends on your income, debt-to-equity ratio, down payment amount, and other factors.

Mortgage financing options

When you’re ready to buy a property, you have many financing options, including:

Real estate loan lender

Few major national banks offer home loans, but many community banks and credit unions do. You can often get financing from a local lender in the same area as your land. Knowing the area, a local lender is in a better position to assess the land’s value and possibilities.

Vendor financing

With seller financing, the seller offers you a loan rather than a bank or mortgage lender. You then submit your payment to the seller each month. The only amount you will have to pay at closing is the agreed amount for a deposit.

USDA Rural Housing Site Loan

USDA Rural Housing Site Loans provide financing to low- and middle-income families looking to build a home on land in an eligible rural area. USDA loans are often easier to obtain than conventional loans. These government guaranteed loans have a repayment term of two years.

SBA 504 loan

If you are buying land to use for a business, you may qualify for a 504 loan offered by the Small Business Administration (SBA). The 504 program provides long-term, fixed-rate loans of up to $5 million for projects that generate business growth and new jobs. Loans can be used for multiple purposes, including the purchase and construction of new facilities.

Home Equity Loan

If you already own a home and have significant equity, you may qualify for a home equity loan. In this case, you will receive a lump sum of money up front, which you will repay over time. It doesn’t matter what you do with the money, and you won’t have to pay a deposit. Plus, you can usually get a lower interest rate than a home loan. But if you don’t honor the loan, you risk losing your home.

With Credible, you can easily compare personal loan rates from different lenders in minutes.

Advantages and disadvantages of mortgage

As with any financial decision, it’s always wise to think about the pros and cons. Consider these pros and cons to see if a home loan is right for you:

Benefits

  • You can build your dream home exactly the way you want. You also have the option of keeping the land and building only when you are ready.
  • You can enjoy a booming neighborhood. Buy the land now for future construction in an area where property values ​​are rising.
  • You can use the land for commercial purposes. Establish a new location for your business.

The inconvenients

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Get a tax refund? Here are 6 ways to invest in yourself https://howtooccupy.org/get-a-tax-refund-here-are-6-ways-to-invest-in-yourself/ Sun, 13 Feb 2022 14:00:43 +0000 https://howtooccupy.org/get-a-tax-refund-here-are-6-ways-to-invest-in-yourself/ PM Images/Getty This story is part Taxes 2022CNET’s coverage of the best tax software and everything you need to file your return quickly, accurately and on time. Filing taxes is no fun, but getting a tax refund can be. In 2021, over 100 million refunds were processed and refunds averaged $2,873 – and unless you […]]]>

PM Images/Getty

This story is part Taxes 2022CNET’s coverage of the best tax software and everything you need to file your return quickly, accurately and on time.

Filing taxes is no fun, but getting a tax refund can be. In 2021, over 100 million refunds were processed and refunds averaged $2,873 – and unless you need the money to immediately pay rent or bills, that’s a good idea to plan in advance how best to use the funds.

Although it may be tempting to spend your money right away, consider using some or all of it to improve your finances. Here are several smart ways to put that money to good use for you and your future.

1. Pay off the debt

Whether it’s credit cards, student loans, buy it now and pay later services, or medical bills, living with debt can be overwhelming. Although your tax refund may not be large enough to wipe out these balances, you can use it to reduce your debt, especially high-interest debt.

Credit cards tend to be the debt with the highest interest rates, although this is not always the case. Paying off the debt with the highest interest rate first (aka the avalanche method) can help save you money down the road in interest charges. Additionally, with the Fed expected to raise rates as early as March, credit card interest rates are also expected to rise.

If you have multiple credit cards with similar APRs carrying debt, you can also choose to pay off smaller balances first (the snowball method) so you have fewer remaining credit cards to worry about paying off.

“Tackling the card with the lowest balance first can be a quick win and give us the mental strength to pay off remaining balances. “, says CNET Money Editor at Large Farnoosh Torabi.

2. Build or boost your emergency fund

An emergency fund is an important financial tool that can help you in the event of job loss, a pay cut, or an unexpected financial emergency (like a heavy medical bill). Your emergency fund should contain between three and six months of expenses, which is the amount you spend on things like rent, utilities, groceries, gas, and other essentials.

Your tax refund can help you create an emergency fund. A high-yield savings account that pays slightly higher interest rates that you can access quickly is a great place to store that money. Many online banks like Capital One, Ally and Marcus offer high yield savings options.

And, if you have debt you’d like to pay off and no emergency savings to speak of, you may not know how to best make your money work. “Spending time in the beginning to build up emergency savings first – even a few hundred dollars – can be extremely helpful before you embark on your debt repayment strategy. This provides a buffer for unexpected expenses that may not Of course, pay the minimum on all your card balances, while you work on building up savings, but once you have about a month’s worth of essentials set aside, be more aggressive with your debt repayment plan,” says Torabi.

3. Pay your future self

While it might not be the most glamorous way to enjoy your money now, investing in your future is important at any stage of your career. You can use your tax refund to contribute to any retirement plans you have, 401(k) or IRA. In 2022, you can contribute up to $20,500 to a 401(k) and $6,000 for traditional and Roth IRAs. (If you’re over 50, you can contribute an additional $6,500 to your 401(k) and $1,000 to an IRA.)

“If it’s not possible to maximize your retirement plan at work, consider investing enough to earn full consideration from your employer or contributing at least one to two percent more than last year,” explains Torabi.

And, if you’re already on track to reach your retirement goals, you could use your money to start investing. There is no one way to start investing; it will be different for everyone. If you want to invest with minimal risk, buying an ETF (exchange-traded fund) or an index fund may be a good idea. Both options spread your risk across different stocks and bonds that track a particular index, like the S&P 500. You won’t get rich overnight with index funds or ETFs. They are more of a long term game.

If you want to take a more active role in investing and don’t mind taking higher risks, you can invest directly in the stock market through a brokerage. A few online options for investing in ETFs, index funds, and stocks include TD Ameritrade, ETRADE, and Fidelity Investments.

For those who don’t want to be as active in the investment process, a robo-advisor might make sense. Robo-advisors like Betterment, Wealthfront, and Ellevest use AI to create a portfolio based on your financial needs and goals.

4. Add funds to your HSA or FSA

A health savings account is a savings plan specifically designed for health-related expenses. HSAs are a type of investment account, although they are called “savings” plans. If you have a high-deductible health plan, you are eligible to open an HSA. HSAs are triple tax-exempt: your contributions, earnings and withdrawals are not taxed. Your employer may also offer access to an FSA Flexible Spending Account, which is also a tax-free account designed for eligible medical expenses.

If you have a health savings account or a flexible savings account for medical expenses, you may want to use part of your tax return to fund this account. The 2022 contribution limits for an HSA are $3,650 for an individual and $7,300 for family plans. The FSA contribution limit for 2022 is $2,850.

5. Start a college fund

Whether it’s for a child or for yourself, you can put your refund to work by investing it in future college expenses. You have different options for storing this money, including a high-yield savings account, an investment account, or a 529 plan.

A 529 plan is specifically designed for college savings, but it acts more like an investment account. Earnings grow tax-free and as long as you use the funds for education-related expenses, you are not required to pay taxes on your withdrawals.

6. Invest in yourself

While college is a great personal investment, there are other ways to use your tax refund for a good cause. If you are considering a career change, use your money to invest in that change. If you need capital to start your own business, this could be your chance. Or use your funds to invest in courses, courses, or certifications that will help take your skills to the next level.

“Since it can take time for your new business to start generating revenue, having at least a year of financial trail or personal savings can be vital for both your financial security and long-term success. of your business,” says Torabi.

The stress of the past two years has weighed on us all. While paying off your debt, saving, and investing your repayment are smart ideas, investing in your mental health is just as important.

Consider using your refund to give yourself a well-deserved break, whether it’s a laptop-free getaway, a trip to see family and friends, or a relaxing vacation to recharge, reset, and refocus yourself. “Mastering your money is more than just managing your dollars and cents properly. It’s a much more holistic endeavor that focuses on your mental well-being first and foremost,” says Torabi. “Health is wealth.”

]]> Ottawa has ability to investigate trucking convoy funding, says Public Safety Minister Mendicino https://howtooccupy.org/ottawa-has-ability-to-investigate-trucking-convoy-funding-says-public-safety-minister-mendicino/ Tue, 08 Feb 2022 02:43:50 +0000 https://howtooccupy.org/ottawa-has-ability-to-investigate-trucking-convoy-funding-says-public-safety-minister-mendicino/ Public Safety Minister Marco Mendicino stands during Question Period in Ottawa on February 3.Adrian Wyld/The Canadian Press Public Safety Minister Marco Mendicino says the federal government has ‘robust’ investigative bodies that are well positioned to probe financial contributions from outside Canada to causes that would compromise safety and security national of that country. The minister […]]]>

Public Safety Minister Marco Mendicino stands during Question Period in Ottawa on February 3.Adrian Wyld/The Canadian Press

Public Safety Minister Marco Mendicino says the federal government has ‘robust’ investigative bodies that are well positioned to probe financial contributions from outside Canada to causes that would compromise safety and security national of that country.

The minister made his remarks in Ottawa on Monday as the federal government was pressed to investigate financial contributions to protesters who effectively shut down downtown Ottawa in their fight against pandemic restrictions. Protest organizers have raised millions of dollars through alternative fundraising sources since crowdsourcing company GoFundMe ended nearly $10 million in donations last week.

“We have very strict laws in this country that are largely covered by the Criminal Code that would legally prohibit anyone from assisting in any effort to harm public safety or national security,” Mendicino told reporters. .

“We have to be very vigilant about outside forces, about foreign interference,” he said.

Mr. Mendicino said he was speaking in general terms because investigations are conducted independently of elected officials.

Legal and academic experts, however, say they are skeptical whether Canada has adequate legislation to curb fundraising for convoy protests.

GoFundMe scuttles campaign for trucking convoy, halts release of $10 million in donations

Where are the convoy protesters in Ottawa now? A visual guide to the state of emergency

Jessica Davis, a former federal intelligence analyst, said she knew federal agencies were keeping a close eye on money trails supporting protesters. But she says she doesn’t know what laws may apply to them. “There are a lot of people working on it. The question is: what are they going to be able to do about it? she said in an interview. “If most of these activities were legal under Canadian law, what is the outcome of these investigations? Nothing.”

Ms Davis, who runs consultancy Insight Threat Intelligence, said ‘there is a real question about passing tougher foreign interference laws’.

Organizers pledge to use donor funds to fuel and feed truckers for the long term. On Friday, GoFundMe said it would begin returning nearly $10 million in donations to convoy protests. This company found that the protesters violated terms of service clauses blocking the “promotion of violence and harassment”.

Since then, protest organizers have pivoted to pledging to raise $16 million through an alternative crowdfunding site known as GiveSendGo. By Monday night, just three days after GoFundMe severed ties, that fund had already raised about $5.3 million.

There are other fundraising efforts. One organizer, Benjamin Dichter, used social media to urge his followers to switch to bitcoin. Last month he won backing from US donors after appearing on Fox News, when he told host Tucker Carlson that vaccination mandates were pushing Canada into ‘dark authoritarian oppression and control’ .

Prominent critics of the protests are now seizing on the issue of foreign funding in Canada. “Foreign backers of an insurgency have interfered in our domestic affairs from the start,” writes Mark Carney, former governor of the Bank of Canada and Bank of England, in an op-ed published by The Globe and Mail. “Canadian authorities should take all measures provided by law to identify and rigorously punish them. »

Protesters’ organizers deny links to violence or extremism and say they are not breaking any financial laws. Calgary lawyer Keith Wilson said last week that a group of lawyers and accountants had formed a not-for-profit entity to ensure money could flow to the cause in full compliance with the laws. and crowdfunding terms.

Experts say the federal government has several investigative agencies, but few tools in its toolbox that match the situation. Criminal Code anti-money laundering measures, even foreign interference investigations have been adopted to solve different kinds of problems.

Leah West, a professor at Carleton University, said the fact that Mr Mendicino raises national security and public safety considerations could signal an interest by authorities in examining whether the funding provisions of the 2001 anti-terrorism act could be invoked,

“He was very careful not to talk about ‘terrorism’ offences, but that’s what I thought he was referring to,” said Professor West, a former federal national security attorney. But she said authorities would struggle to enforce those provisions “unless there is evidence or intelligence of a specific intent to cause the physical destruction of critical infrastructure or public property, or the violence”.

Last July, the Financial Transactions and Reports Analysis Center of Canada issued a bulletin to the public stating that monitoring fundraising for extremist causes was becoming more difficult for authorities due to “alternative outlets of crowdsourcing” and “virtual currencies”.

Our Morning Update and Evening Update newsletters are compiled by Globe editors, giving you a concise summary of the day’s most important headlines. register today.

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5 Home Buying Lessons From Last Year’s Unsuccessful Buyers https://howtooccupy.org/5-home-buying-lessons-from-last-years-unsuccessful-buyers/ Sun, 06 Feb 2022 19:48:28 +0000 https://howtooccupy.org/5-home-buying-lessons-from-last-years-unsuccessful-buyers/ (NerdWallet) – Record housing stock, high prices and low mortgage rates have provided an interesting backdrop for the 2021 housing market. Millions have fought tooth and nail to close homes throughout the year, but millions more have failed in their attempts. The housing market in 2021 was booming, but that doesn’t mean buying a home […]]]>

(NerdWallet) – Record housing stock, high prices and low mortgage rates have provided an interesting backdrop for the 2021 housing market. Millions have fought tooth and nail to close homes throughout the year, but millions more have failed in their attempts.

The housing market in 2021 was booming, but that doesn’t mean buying a home was a breeze. In fact, 66% of Americans who started last year with purchase intentions were unsuccessful, according to NerdWallet’s 2022 Homebuyers Report. With 26 million people planning to buy homes this year, according to the survey, lessons learned from failed attempts in 2021 could hold some pointers for buyers this year.

More than a third (35%) of Americans who planned to buy a home in 2021 but didn’t said they postponed or canceled those plans due to the pandemic or related effects. Of course, individual shoppers can’t do much about the economic and public health impacts we’re all experiencing, but that doesn’t mean all hope is lost.

Studying the most common barriers to buying in 2021 can give future homeowners the edge they need to close a deal this year.

1. Competitive Bids Make Deals

Low inventory amid high demand creates a competitive market, and in that regard, 2022 will be similar to 2021. A quarter (25%) of Americans who had planned, but were unsuccessful, to buy a home in 2021 say they made an offer on at least one home, but were ultimately not contracted.

A competitive offer is not just the highest bid. Of course, money talks, and you’re more likely to succeed if you can outbid the competition. But there are other ways to make your offer stand out.

Make the transaction as easy as possible by keeping it simple and convenient for the seller. Demonstrate your ability to pay with a mortgage pre-approval, suggest a quick closing and let the seller choose the date, and offer to buy the home as-is after having it professionally inspected. Your real estate agent can help you write an offer that will move to the top of the pile, without putting you at undue risk.

2. The houses available may not be perfect

The greater the housing shortage, the more flexible potential buyers will have to be.

A quarter (25%) of unsuccessful buyers in 2021 say they delayed their plans because they couldn’t find a home that suited their needs. Chances are the line between wants and needs, for many in this group, is not clearly defined.

Before you start shopping, make a list of all the features you would like to have in a home. Then mark the ones that aren’t really needed. The more features you can compromise on, the more likely you are to end up with your own home. That doesn’t mean you have to be prepared to fit a family of five into two bedrooms, but maybe you can live without a two-car garage or a finished basement.

3. Buying in 2022 will still be difficult

Nearly a quarter (24%) of buyers who were unsuccessful last year say they have delayed their buying plans because they think it will be easier to buy in 2022. But the forces that made buying a home a challenge in 2021 will largely continue into 2022.

The rate of price growth may stabilize somewhat over the coming year, but prices are unlikely to reverse and fall dramatically. And the shortage of homes on the market is unlikely to see a drastic change either. According to the same survey, of potential home sellers who want to put their homes on the market this year, 89% say something is holding them back, including worries about finding or affording a new home. themselves.

If you’re hoping to buy this year, be prepared for a challenge. Realistic expectations can protect you from disappointment and help you make contingency plans when you find yourself fighting with other potential buyers.

4. Current house prices could blow budgets

It’s tempting to borrow more money or push yourself harder to get a contract. No. Nearly a quarter (24%) of successful buyers last year say they walked away from the market because they couldn’t afford the homes that were available.

Be thorough when setting your home buying budget, with the resolve to stick to it when the going gets tough. Stretching too far to buy a house to find yourself poor house can be a recipe for sleepless nights under your new roof. A home affordability calculator can help get you started in the right direction, taking into account all of your existing expenses as well as those that come with home ownership.

5. Borrowing for a house is not a safe thing

Qualifying for a mortgage usually requires adequate and consistent income, a manageable amount of existing debt, and a credit history that makes you a good risk to lenders. While 16% of unsuccessful homebuyers in 2021 said they were unable to qualify for a mortgage, it’s possible some of them didn’t actually apply and just assumed they would. refused.

Buying a home is most often a long-term goal, and it can take years for your income and credit to be in good enough shape to qualify for a mortgage. Aim for a credit history that showcases on-time payments, keeping debt low, and saving a down payment to make your mortgage application more attractive. Keep in mind that a healthy down payment will reduce the total cost of your home loan by saving you interest and private mortgage insurance (required for mortgages with less than 20% down payment).

Programs are also available for first buyers this can make it a little easier to qualify for a home loan.

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