Credello: A New Survey Finds This Is How Much Money You Should Have In...
Some Americans don't have any savings. These individuals or families may have to take out a personal loan for unexpected expenses. If they get blindsided by financial hardship, they might also ask to borrow money from a family member or friend if that's a viable option.
Virtually any financial expert will agree that you should put some money aside for emergencies if at all possible. That has been the case for years. The only thing that's different now is how much cash you should have in your emergency fund.
A survey has revealed the new minimum amount you should try to set aside. We'll talk about that number and its implications right now.
The Previous Emergency Expense Benchmark
For many years, financial consultants and other experts in the field said that you should try to have $400 set aside in an emergency fund. They warned families or individuals not to touch that money unless they had no choice.
However, most financial strategists feel that in 2022, $400 is not a realistic amount that should form the foundation of your emergency fund. They point to inflation as one of the main reasons why this number has changed.
What's the New Number?
There is a reputable financial services company called LendingClub. Recently, they partnered with PYMNTS, a financial news site, for a new study. That study surveyed households that had to deal with sudden financial hardships. They determined that the new amount you should try to set aside for an emergency fund is $1,400.
$1,400 might seem arbitrary, but it's based on research. That number represents the mean average of what a family or individual can expect to pay if they're faced with an unexpected financial hardship in 2022.
That hardship might be a car breakdown and the subsequent repairs. It may be a plumbing disaster or a medical bill. The amount you'll pay in one of these situations might be more or less than $1,400, but this survey reveals that's a realistic starting point if you want to have a minimum amount set aside for emergencies.
Why Does Having an Emergency Fund Matter?
If you don't have an emergency fund, financial experts say you're asking for trouble. You never know when a sudden expense will pop up. If your bank account is empty, you might have to borrow money from a credit card company if you don't have a family member or friend you can turn to for help.
Credit card companies often charge high-interest rates if you borrow money from them. Getting a payday loan isn't the best solution either, based on the fees that typically go along with that.
Now's the Time to Create an Emergency Fund
Virtually all financial experts and advisers agree that creating an emergency fund is something every individual and family should do. You can use $1,400, the number from this recent survey, as a jumping-off point. With that money readily available, you should feel immeasurably better about any sudden expense that arises.
Once you have that $1,400, you can also continue setting money aside, just in case you run into any expense that amount doesn't cover. Most financial gurus will tell you to have three-six months of possible expenses put away, just in case you lose your job or something similar occurs. That three-six months of expenses should cover your rent or mortgage payments, utility bills, grocery budget, etc.
It's noteworthy that in 2022, the minimum amount that financial advisers say you should set aside for emergency expenses has gone from $400 to $1,400. It's reasonable to assume that number will only keep going up as we progress further into this century.
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Original Source: Credello: A New Survey Finds This Is How Much Money You Should Have In Your Emergency Fund
I Have The Right To Launches Nationwide Pledge to Support Students and Survivors of...
TruChoice’s SPD Team Helps Financial Professionals Excel
MINNEAPOLIS - September 20, 2022 - (Newswire.com)
TruChoice Financial Group, LLC, one of the largest distributors of insurance products in the financial services industry, is enhancing their Specialized Products Division (SPD) to help qualified financial professionals and broker-dealer networks better navigate the ever-growing suite of registered index-linked annuities (RILAs).
"Our dedicated RILA wholesaling team provides powerful RILA support and solutions so you can deliver precise, informed recommendations to your clients," said Steve Bates, senior VP of sales development at TruChoice. "With RILAs maintaining their two-year run as the fastest-growing segment of the annuity space, TruChoice remains committed to staying at the forefront of this quickly evolving marketplace."
In addition to the dedicated wholesaling team of Financial Industry Regulatory Authority (FINRA)-registered, insurance-licensed professionals offering solutions from top industry carriers, financial professionals have access to innovative tools and resources, including a suite of consumer marketing platforms, multimedia sales tools, lead generation programs, and access to consultative marketing specialists. The latest enhancements to the available support options include a newly redesigned website and a FINRA-reviewed animated consumer video that can help explain the benefits of RILAs to clients and prospects.
"We're excited to release our newest animated video for distribution," said Scott Wheeler, chief marketing officer at TruChoice. "Our previous animated video offerings have been popular, as evidenced by the hundreds of videos we have customized with logos and company information. Our goal is to provide effective tools to financial professionals to help them better serve their clients."
For more information on TruChoice's SPD, visit www.truchoicespecialized.com or email [email protected]. To learn more about TruChoice, visit www.TruChoiceFinancial.com, or call 800.237.0263. TruChoice Financial can also be followed on LinkedIn, Twitter, and Facebook.
TruChoice Media Contact:
Chris Cowan
678.718.1951
[email protected]
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Original Source: TruChoice's SPD Team Helps Financial Professionals Excel
Credello: How Much Does Missing Student Loan Payments Hurt Your Credit Score?
If you're missing student loan payments, your credit score could be taking a hit. Here's how much that matters and what you can do about it.
What is your credit score?
Your credit score is a number that lenders use to assess the risk of lending money to you. It affects your chances for any sort of borrowing, including opening a credit card or getting approved for a personal loan for college students. The higher your score, the lower the risk.
Lenders use one of three reporting bureaus to pull your credit report: Experian, TransUnion, or Equifax. Each bureau decides which model it uses to determine your total score, either FICO®, which has a range of 300 - 850, or VantageScore®, which has a range of 501 - 990.
There are six factors that affect your credit score, with each weighted a little differently depending on the scoring model:
1. Amount of on-time payments. In all reporting models, the amount of late payments you have is the most significant factor that affects your credit score. Any payment later than 30 days is counted as a missed payment and can ding your score.
2. Length of credit history. The longer your credit history, the better.
3. Credit utilization (the percentage of credit used). This measures how much of your total available credit you're using.
4. New credit applications. Approved applications count as positive factors, but rejected applications boomerang and can hurt your score if reported to the bureau.
5. Inquiries about credit products. When you allow a potential lender to look at your credit score, an inquiry is made. Lenders consider this when deciding whether to approve you for a product, as multiple inquiries make it seem like you're desperate for money. However, only "hard" inquiries affect your score. "Soft" inquiries, such as the pulls made through credit monitoring apps or budgeting software, aren't counted.
6. Type of credit. The mix of credit accounts you have includes car loans, student loans, credit cards, etc.
How can late student loan payments affect your credit score?
In both credit scoring models, the amount of late payments you have is the most significant factor that affects your credit score. Missing student loan payments can lower your credit score by anywhere from 30 to 50 points, depending on the bureau. That means you may have a harder time getting a loan or being approved for one.
What can you do if you miss your loan due date?
If you're having trouble making your student loan payments, there are a few things you can do to try and get back on track. First, talk to your lender about what options are available to you. They may be able to extend the deadline for repayment, change the terms of the loan, or offer other solutions.
Second, consider looking into other sources of financial help. There are often ways to get help with debt without having to pay it back straight away, such as through credit counseling services or debt reduction programs.
Finally, be honest with yourself about what you can realistically afford to pay each month. Sometimes it's helpful to make a plan and track your progress over time so you can see how your situation is changing and keep your lender informed so that adjustments can be made that ensure you're never hurting your score or missing payment deadlines again.
The bottom line
Missing student loan payments can hurt your credit score. But there are ways to prevent this from happening and get back on track with your finances.
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Original Source: Credello: How Much Does Missing Student Loan Payments Hurt Your Credit Score?
Sandbox Launches Coolmath Coding to Teach Kids How to Code
Credello: Can You Ask for a Refund on Student Loan Payments?
Recently, President Biden stated that the federal government would forgive up to $20,000 in student loans for many low- or middle-income individuals who borrowed money from the federal government for school. This has led to a flood of questions from former and current college students.
What is personal loan forgiveness, some have asked, and how does it work? Others want to know additional details regarding this historic announcement.
In this article, we'll answer one of the most commonly asked student loan questions that's making the rounds online: whether you can ask for a refund on student loan payments.
Private Student Loans
The first thing worth knowing about the $20,000 in student loan forgiveness that President Biden mentioned is that it applies to students who borrowed money from the federal government, not a private lender. If you borrowed money for school from one of the many private lenders out there, you can't get a refund on that.
Who's Eligible for a Refund?
Let's say you're one of the individuals who borrowed money for college from the federal government. You also made payments on or after March 13 of 2020, when Covid-19 was on the rise and shutdowns were taking place.
If so, you're eligible to ask for a refund on those payments of up to $20,000, whether you paid through smaller amounts or paid off all your debt via a lump sum. The White House estimates that about 27 million Americans might meet this qualification.
There are certain stipulations about who's eligible, so you'll need to do a little research to see whether you meet all the terms and conditions. For instance, if you made payments for a Perkins loan or FFELP loan you took out, you may not be able to get a refund on that money.
Should You Make This Request?
If you think you might qualify, you may feel like asking for a refund is a no-lose proposition. However, some financial experts warn that you should proceed with caution.
The reality is that the full details of the loan cancelation program have not been released yet. If you're experiencing financial hardship and badly need the money you put toward federal student loans after March 13, 2020, you can move forward. Otherwise, it's prudent to wait a little while to see what details the White House releases regarding this program.
How Do You Put in a Refund Request?
If you need money urgently and think you'll qualify for this program, you can look into it by contacting the Federal Education Department. You'll need your loan servicer's phone number, the address where you want your refund delivered, or your bank account routing number for your refund. The person you speak to will probably ask for your social security number as well.
You might deal with long wait times since this program has received a lot of attention, and millions of people want refunds. If you're persistent, though, you should eventually get a chance to speak to an Education Department representative.
You Might Be Eligible for a Refund
If you took out federal student loans and made any payments after March 13 of 2020, you can probably get one of the refunds President Biden mentioned as part of the federal loan forgiveness plan. Remember that anyone who took out private loans and made payments before that date is not eligible.
Some financial experts feel you should wait for more program details before you try to get your loan money refunded. If you're experiencing financial hardship, though, you may not want to hesitate.
Contact the Federal Education Department and have the information we mentioned ready. If you learn you're eligible for one of these refunds, that cash windfall should be extremely beneficial.
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Original Source: Credello: Can You Ask for a Refund on Student Loan Payments?
Rosebud Woman Brings Sensing Woman to NYC to Catalyze Creative Dialogue, Raise Funds for...
NEW YORK - September 19, 2022 - (Newswire.com)
Sensing Woman, a gathering of contemporary art, provocative dialogue, storytelling, music, and human connection to benefit women's health, will be held from Sept. 27 until Oct. 1 at C24 Gallery, in New York City's Chelsea Art District, with a global simulcast. The event is designed to ignite a new kind of conversation on living in a female body; educate and shift beliefs; amplify our collective energy for a more gender-just future; raise funds for organizations working to ensure body sovereignty and women's health. Tickets are available to the public for live events and via global simulcast.
Executive Producer and Rosebud Woman Founder Christine Marie Mason speaks to the timeliness of the show. "The timing of the show is vital: we need every person who cares about reproductive independence to activate now, and this is better sustained from a deeply felt internal sense of worth than from willpower or outrage."
Curator Christina Massey, artist and founder of WoArt Blog, has selected artists from a wide variety of backgrounds, ethnicities, ages, and experiences. There is diversity in the topics and inspirations, materials and styles, and experiences of the artists themselves. Christina was drawn to the relationship of the feminine experience and how, in the context of the show, it also almost appears bodily and internal, a guttural response to the collective experience of women.
The event benefits the Center for Reproductive Rights and the Center for Intimacy Justice. All profits from the show will be donated to these organizations.
Daytime programming includes midday councils and artist talks on female embodiment now, with the work of 32 contemporary female artists, and 40 game-changing speakers in media, medicine, policy, ecology, spirituality and more.
Evening events include an opening night benefit party with V (formerly Eve Ensler) on 9/27, a multigenerational story night led by Jessica Lore and Georgia Clark of Generation Women on 9/28, and a closing party of embodied sensual activation on 9/30 with Lizzy Jeff.
Christine Mason says, "Sensing Woman is designed to be circular, sensual, present, ceremonial and impactful. We will listen deeply to the wisdom and insight of those who are imagining what a new world might look like, and we will raise funds for sexual health, reproductive equity, and self-determination. We are preparing for a potent surge to advance gender justice for all people."
Presenters include:
Emme, Supermodel and Body Activist
Alie Ward, Daytime Emme Award Winning Science Correspondent & Host of Ologies
Renee Cafaro, Designer and Activist
Dana Donofree, Survivor, CEO & Founder of AnaOno, Boob-Inclusive lingerie
Tanya Taylor, Designer & Political Activist
Caren Spruch, National Director of Arts & Entertainment Engagement at Planned Parenthood
Dr. Somi Javaid, OBGYN & Founder of HERMD
Christine Marie Mason, Founder of Rosebud Woman
Sallie Sarrel, Pelvic Physical Therapist & Co-Founder of the Endometriosis Summit
Stephanie Swartz, Senior Director, Policy and Public Affairs at Favor
Delphine O'Rourke, Partner: Women's Health, Healthcare Regulatory at Goodwin Law
Katie Fogarty, Career Coach, Former Journalist, and the Host of A Certain Age Podcast
Jodie Patterson, Author, Activist and Chair of the Human Rights Campaign Foundation Board
Alysia Reiner, SAG Award Winning Actress (OITNB, Better Things, Ms. Marvel), Artivist, and Geena Davis Institute Board Member & Ambassador
Michaela Ternasky-Holland, Award-Winning XR/Metaverse Creator, Consultant & Speaker
Rachel Gross, Science Journalist and Author of Vagina Obscura: An Anatomical Voyage
Rachel Braun Scherl, Entrepreneur & Advisor, Author of Orgasmic Leadership and Chief Development Officer, Pulse
Jackie Rotman, Founder of the Center for Intimacy Justice
Samantha Sleeper, Rosebud Woman + Samantha Sleeper
Jessica Lore and Georgia Clark, Generation Women
Debra Pascali - Bonaro, Childbirth Educator, Author
Dr. Gita Vaid, Board-Certified Psychiatrist And Psychoanalyst, Co-Founder of the Center for Natural Intelligence
Dr. Kelley O'Donnell, Board-Certified Holistic Psychiatrist and a Psychedelic Researcher in New York City
Dr. Logan Levkoff, Sexuality and Relationship Educator and Author
Nicole Casanova, CEO and Connection Catalyst, Casanova Ventures
Featured Artists:
Alexandra Carter, Alexandra Rutsch-Brock, Annette Hur, Amy Butowicz, Anna Ogier-Bloomer, Arlene Rush, Barbara Lubliner, Beatrix Ost, Caroline Wayne, Danielle Krysa, Dee Shapiro, Denise Sfraga, Diana Schmertz, Elisabeth Condon, Erin Juliana, Fay Ku, Jaynie Crimmins, Jillian M Rock, Jo Yarrington, Jung Eun Park, Manju Shandler, Michela Martello, Mija Jung, Patricia Fabricant, Sana Musasama, Seren Morey, Shamona Stokes, Shima Star, Sophia Wallace, Susan Luss, Suzanna Scott, Theda Sandiford, Traci Johnson, with a special activation installation by Kathleen Joy, Artist and Educator
Sponsors and Donors:
Rosebud Woman, Klaviyo, Luminous, Allure Store, Ana + Ono, Better Not Younger, Favor, Foria, Joylux, Keho, Liquid Death, Maui CBD, Plant Apothecary, Pulse, Sovany, The Detox Market, RMS Beauty,
Media Partners:
CEW, Fashion Snoops, A Certain Age Podcast
Live and Simulcast Tickets are available at SensingWoman.org
Press and sponsorship contact: [email protected]
Contact Information:
Michelle Fetsch
VP Business Development
[email protected]
415-849-8613
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Original Source: Rosebud Woman Brings Sensing Woman to NYC to Catalyze Creative Dialogue, Raise Funds for Women's Health
Non-Bank Lender Making Access to Finance Easier for SMEs
Lower Price on Eliquis for DVT Prevention at Canada Drugs Direct
