Credello: Over 50% of People Believe Debt is a Reason for Divorce
Credello: According to recent studies, more than 50% of people believe debt is a reason for divorce. But just because you or your spouse has student loans or credit card balances doesn't mean you need to break up.
Why debt can cause a divorce in otherwise happy marriages
The reason so many marriages end due to debt is that money becomes a source of contention. One spouse may feel like they're always strapped for cash, while the other feels they're spending too much. This can lead to tension and, ultimately, divorce.
Another reason is if the spouse in debt has been hiding it from the other. This can lead to explosive arguments when the truth comes out, as one spouse may feel embarrassed or ashamed.
Divorcing because of debt may not be the best solution
There are many factors to consider before deciding whether or not to break up because of debt, but understanding the potential consequences is key to making the right decision for yourself and your loved ones.
Divorces are expensive. Lawyer fees, alimony, and division of assets can quickly add up. Unless one spouse has a good financial background, divorce debt may add to the financial stress for both parties.
A divorce can be emotionally devastating. Losing your home, assets, and children can be a huge shock. Money may not be the only thing lost in a divorce, and emotions can run high when it comes to debt.
Divorce can destroy your credit score. This can make it difficult to get a loan in the future and could even impact your job prospects.
You may lose important financial assets, such as retirement savings or inherited property.
What to do if you or your spouse is in debt
Here's how you can navigate these tough financial waters and stay together:
1. Talk openly and honestly about your finances. Don't try to hide or sweep anything under the rug - open communication is key to keeping your relationship strong.
2. Make a plan together. If one of you is struggling financially, it can be hard to keep up with bills and stay on top of loan payments. Work together to create a strategy for managing debt - set realistic goals and agree to meet them as a couple.
3. Seek help from professionals. If things are getting too complicated, don't hesitate to seek help from qualified financial advisors who can help you figure out a debt repayment plan that works for both of you. You may also want to pursue finding a therapist who has experience with debt issues and help you understand how you and your partner got into this situation.
4. Don't be ashamed of your debt. These feelings can cause many to hide their debt from their partner. But openness and honesty will go a long way in repairing your relationship. Your debt is not you or your spouse; it's simply something that's temporarily in your life that needs to be managed.
The bottom line
No matter what type of debt you are in, it is essential that you work with your spouse to eliminate its negative impact on your relationship. Together, you can find a way to overcome debt so that it does not threaten your marriage.
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Original Source: Credello: Over 50% of People Believe Debt is a Reason for Divorce
How Are Student Loans Split When You Get Divorced
Credello: Divorce is a difficult and complicated process, full of uncertainties and unknowns. But one thing that is generally certain is that the financial obligations between spouses will change after a divorce. Unfortunately, student loans and divorce is a popular-yet-messy topic many people facing a legal separation need to consider. So how does it work when you're in debt from student loans while getting a divorce? Here's what you need to know.
A primer on student loan debt
Student loans are a popular way to pay tuition and education expenses for continuing education. Typically, two student loan options are available for most students: government and private.
Some government student loans can be forgiven or have their balances lowered. Most recently, President Biden forgave $10,000-$20,000 in student loan debt for qualified U.S. citizens. Other federal programs can reduce your loan balances in exchange for certain careers, such as teaching.
Both government and private loans cannot be discharged during a bankruptcy filing and will most likely need to be paid off in full. Few companies that offer private student loans will allow debt settlements or reductions in balances due to hardship.
How student loan debt works in a divorce
When you get divorced, all of the debts between you and your spouse become legally separate. This means that each of you can deal with your own debt, including student loans.
Basically, this means that if one spouse has student loans, the other can't discharge them in a divorce. However, this doesn't mean the other spouse must keep paying off the loans.
Instead, the responsibility for those debts shifts to the divorcing spouses fairly and equitably. This means that whoever is responsible for the debt at the time of separation is responsible for continuing to pay it off after the divorce.
Student loans are one of the few debts that cannot be discharged in a divorce. This is because student loans are considered an "essential expense" for most students and are often used as a form of credit to help pay for college. In other words, your ex-spouse can't just demand that you pay off your student loan debt to get custody of the children or receive financial support from you during the divorce.
That said, there are some things that your ex-spouse may be able to demand from you during the divorce if they're responsible for paying off your student loan debt. For example, your ex-spouse may be able to get a court order requiring you to pay your student loan debt in full or to have a set portion of alimony paid directly to your student loan creditor. However, this varies by state, so it's essential to consult with a lawyer if you have student loan debt and are considering a divorce.
What if both of us have outstanding student loan debt?
The situation gets a little more complicated if both spouses have outstanding student loan debt. In this case, the court will generally try to divide the debt fairly between the two parties. This may mean that each spouse is responsible for paying off their own loans, or it may mean that the debt is divided between them in some other way.
Again, it's important to consult with a lawyer if you're in this situation, as the laws surrounding student loan debt and divorce can vary from state to state.
The bottom line
In short, while student loan debt can't be discharged in a divorce, each spouse is responsible for continuing to pay it off after the divorce. This means that whoever is responsible for the debt at the time of separation is responsible for continuing to pay it off after the divorce. If both spouses have student loan debt, the court will generally try to divide the debt fairly.
Contact Information:
Keyonda Goosby
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Carolina d'Arbelles-Valle
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Original Source: How Are Student Loans Split When You Get Divorced
6 Ways Influencer Marketing Can Boost Your Business’ Digital Presence
iQuanti: Not all marketing methods are created equal. As a small business owner, you want to ensure that the strategies you're using will give you results — and offer a good return on your investment. That's where influencer marketing comes in.
You may have heard of influencer marketing before. It's a form of marketing that allows a company to team up with a social media influencer — someone who has a large or niche following on social media. While you may have just assumed that this form of marketing is for the big brands — Nespresso, Coke, and Levi's — the truth is that it's a great marketing strategy for smaller businesses as well. The great news is that you don't need unlimited resources or a huge marketing budget to get started with influencer marketing. Even small businesses can benefit from a carefully crafted influencer marketing campaign. If you'd like to get the word out about your products or services, influencer marketing can help greatly.
Here's a look at six benefits that influencer marketing can offer small business owners today.
What Are the Benefits of Influencer Marketing?
1. It allows you to reach a niche audience
Most businesses have a specific target audience that they're trying to reach. Influencers have already built up a strong relationship with their followers and by teaming up with them, you'll be able to reach your intended audience far more easily than if you were building your audience from scratch.
Pro tip: Make sure you get the right influencer to begin with. For the best results, find someone who shares a target audience with you.
2. It gives you an excellent return on your ad spend
Influencer marketing can be more cost-effective than other marketing strategies such as traditional advertising or pay-per-click (PPC) campaigns. In fact, according to information from the Digital Marketing Institute, businesses earn on average $5.78 for every $1 they spend on influencer marketing campaigns, compared to Google's estimated $2 ROI for every $1 spent on PPC. Returns like that make influencer marketing a tactic to consider, even if you're working with a tight budget.
Pro tip: There's a lot that you can do to keep costs down when running marketing campaigns. One strategy is to try to use a business credit card to pay for your marketing or advertising campaigns. Why use a business credit card vs. a personal one? Often, a carefully chosen business credit card will offer specific rewards and perks that can help a business to reduce costs — and with a business card, introductory bonuses are typically higher as well.
3. It's a great way to increase brand awareness
Influencer marketing can be a great way to increase brand awareness for your company, something that's especially important if your brand is unknown. By partnering with influencers who already have an engaged following, you can increase the reach of your marketing campaign and boost your company's publicity.
Pro tip: Look to partner with an influencer who has a high engagement rate among their followers. Often, you'll find that influencers with a slightly lower follower count tend to have higher engagement rates.
4. It's an easy way to boost your website traffic
A successful influencer marketing campaign will almost certainly boost your website's traffic. Just make sure you outline your campaign goals clearly to your influencer, so they know exactly what you'd like to get out of the campaign.
Pro tip: Get ready for those visitors. Don't just send people to a generic homepage. For best results, make sure you have a dedicated landing page built for each campaign to boost your conversion rates.
5. It allows you to generate leads and increase sales — fast
When influencers share content about your business with their audience, you're likely to see an influx in traffic to your website. If you've chosen your influencer wisely, and they have the same target audience as you, some of that traffic will almost certainly translate into sales.
When influencers endorse your products or services, their followers are more likely to trust what you have to offer. In fact, 49% of consumers depend on influencer recommendations when making a buying decision, according to the Digital Marketing Institute. The more your business can get its message in front of an influencer's audience, the greater the chance of those marketing efforts paying off.
Pro tip: Make sure your landing page is structured in a way to close sales. Each section should be helpful, relevant, engaging, and close with a clear call to action at the end.
6. It will help to build a relationship with your customers
Last but certainly not least, influencer marketing can help you build stronger relationships with your customers. That's because influencers develop trust with their followers that can extend to your business. When a well-known and trusted influencer mentions how much they like your products or services, their followers will naturally want to learn more.
Pro tip: A one-time influencer campaign is a great first step, but an ongoing strategy is best. Influencer marketing can lead to long-term relationships between businesses and influencers, resulting in continued exposure for your company.
The bottom line
When done right, influencer marketing can help your business to boost its online presence, draw in new traffic, and even close more sales. Most importantly, it can give you access to a wider and often more engaged audience, one that's ready and willing to buy. At the end of the day, it can also help you to save money on marketing costs, all of which translate to greater potential profits for your company — making it one strategy that's worth exploring for your small business.
Source article: https://digitalmarketinginstitute.com/blog/20-influencer-marketing-statistics-that-will-surprise-you
Contact Information:
Keyonda Goosby
Public Relations Specialist
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Carolina Darbelles
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Original Source: 6 Ways Influencer Marketing Can Boost Your Business' Digital Presence
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Techwave Announces ‘STEPtember,’ an Awareness Campaign to Support Cerebral Palsy Alliance Research Foundation
Techwave, a leading global IT and engineering solutions provider, shares its latest fundraising initiative, the "STEPtember, Health & Fitness Challenge." The campaign is being launched in collaboration with the Cerebral Palsy Alliance Research Foundation to raise awareness and funds for families affected by cerebral palsy. The funds raised by the STEPtember challenge will be used by the best CPARF researchers to prevent, treat, and cure cerebral palsy.
Cerebral palsy is a physical disability caused by damage to the developing brain during pregnancy, birth, or shortly after birth, which affects a person's posture and movement throughout their life. Techwave's "STEPtember" challenge is the key initiative to raise awareness about cerebral palsy among employees and entice them to lead a healthy lifestyle. Signing up for STEPtember and committing to 10,000 steps per day is the initial step. Tracking the steps with a digital pedometer or an app would follow. A total of 10,000 steps were taken every day during the "STEPtember" challenge by the employees for 28 consecutive days. By participating in this, we raised more than $2,000 and took more than 10 million steps for the CPARF cause.
"STEPtember is a virtual fundraising initiative to encourage fitness and healthy living among employees. The opportunity to fundraise for the Cerebral Palsy Alliance Research Foundation is inspiring to us, and we are proud to be able to make a real difference in the lives of families living with cerebral palsy. This initiative will be rolled out all year long, globally, and we hope it will lead society to better understand cerebral palsy and those affected by it so that we can make a lasting difference for people with the condition," said Mr. Raj Gummadapu, CEO, Techwave.
About Techwave:
Techwave is a leading global Information Technology and Engineering services and solutions company revolutionizing digital transformations. They believe in enabling clients to maximize their potential and achieve a greater market with a wide array of technology services, including, but not limited to, Enterprise Resource Planning, Application Development, Analytics, Digital, and the Internet of Things (IoT).
Founded in 2004, and headquartered in Houston, TX, USA, Techwave has a team of experts, leveraging Digital Transformation, Enterprise Application, and Engineering Services expertise, in 11 countries.
Visit us at https://techwave.net/.
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Original Source: Techwave Announces 'STEPtember,' an Awareness Campaign to Support Cerebral Palsy Alliance Research Foundation