Share to Twitter Share to Linkedin If you’re struggling to figure out who to vote for in the presidential primaries next year, you’re not alone. With so many contenders (at least on the Democratic side), let's look at what plans do the candidates have to keep college costs down. Not every candidate has taken a clear position yet, but we read the tea leaves a little bit on the main Republican and Democratic candidates. This is different from the proposals to tackle the student loan debt crisis, which you can read here: 2020 Presidential Candidates' Proposals On Student Loan Debt . Instead, this article is specific to proposals around lowering the ballooning cost of higher education. Photo Credit: Getty Getty Republican: Donald Trump In general, Republicans don’t believe the government (federal or state) should have much of a role in funding public higher education, and see responsibility for costs as falling entirely on the … [Read more...] about The 2020 Presidential Candidates’ Proposals On Lowering College Costs
Finances for buying a house
This Week In Credit Card News: Average Card Interest Rate Tops 20%; Inflation Wrecking Personal Budgets
Share to Twitter Share to Linkedin Average Credit Card Interest Rates Have Topped 20% Rising interest rates have pushed the annual percentage rates on credit cards to new highs. The average annual percentage rate on a new credit card is now more than 20%, according to LendingTree’s tracker. It’s the first time that rates have topped 20% since the tracker began in 2018. And rates are poised to go even higher across the board. Credit card balances reached $841 billion in the first three months of the year, according to a report from the Federal Reserve Bank of New York. In the same timeframe, 229 million people opened new credit card accounts, an increase from the previous quarter. [ CNBC ] Inflation Causing 85% Of Americans to Adjust Their Essential Purchases You don’t have to follow the news to know inflation is raging. Inflation in May 2022 was up 8.6% from the past twelve months. A quarter of respondents selected that they only have a little … [Read more...] about This Week In Credit Card News: Average Card Interest Rate Tops 20%; Inflation Wrecking Personal Budgets
4 Reasons To Fire Your Parents’ Advisor When Receiving An Inheritance
Share to Twitter Share to Linkedin The advice that helps your parents build wealth likely won't be the financial guidance to help you maximize your inheritance well into the future. Many people who receive a large inheritance find a new financial advisor who fits their current financial planning needs better. There were probably times when your parents' financial advisor was great for them but terrible for you. I have a gay financial planning client whose parents' advisor is homophobic. That relationship will not likely be a good fit going forward (to say the least). I have also spoken to many women who recounted being mansplained by their parents' male advisor. That, and many other reasons, led one successful businesswoman to find a new financial advisor when she received her inheritance. Research suggests that 70 to 90% of people who inherit significant wealth, immediately fire the financial advisor who worked for their parents. I have been … [Read more...] about 4 Reasons To Fire Your Parents’ Advisor When Receiving An Inheritance
3 Investing Mistakes To Avoid During A Stock Market Correction
Share to Twitter Share to Linkedin Investors are getting hit with scary news and stock market volatility they haven't seen since the beginning of the COVID-19 Pandemic. There are a few significant and problematic topics in the news headlines ranging from Russia invading Ukraine, the ongoing global COVID pandemic, and inflation, to name a few. These negative headlines could lead you to make some costly investing mistakes. If you are a day trader or speculate on the hottest stocks of the day, you should likely make major adjustments to your investment portfolio based on short-term news. On the other hand, if you invest for long-term goals like retirement or financial freedom, making significant adjustments to your financial plan based on daily news will greatly reduce the odds of reaching your various financial goals. Doing nothing may seem counterintuitive, but it is often the best course of action for those with a well-thought-out financial plan and diverse … [Read more...] about 3 Investing Mistakes To Avoid During A Stock Market Correction
Exclusive: Slice turns conservative amid slowdown, restricts ‘Pay-in-3’ feature to select card customers
Rajan Bajaj, Founder and CEO of Slice Tiger Global-backed fintech Slice will allow only select customers with a good credit score or repayment history to use its standout ‘Pay-in-3’ feature on its credit-linked Visa card, in what is a key departure from its previous model. The move signals a more conservative approach amidst a tough growth environment with a focus on a profitable business model. However, the feature will be extended to all customers for in-app payments, according to multiple people aware of the development. The move comes at a time when the company is looking to turn profitable soon, and driving up transactions with merchant partners on its app will help accelerate revenue growth. Slice’s ‘Pay-in-3’ allowed customers to split their repayments into three parts for no extra charges or interest. Now only those customers with a good repayment track record and/or a good credit score will be allowed to access the feature on its Visa card which the company calls a … [Read more...] about Exclusive: Slice turns conservative amid slowdown, restricts ‘Pay-in-3’ feature to select card customers
47% of IBC cases ended in liquidation till FY22, shows IBBI data
Representative image (Source: ShutterStock) Distressed companies liquidated under the bankruptcy code have far outnumbered those rescued as of March end, according to the latest data released by the Insolvency and Bankruptcy Board of India (IBBI) . Beginning December 2016 till March 2022, 47 percent of corporate insolvency processes went into liquidation, compared with 14 percent that ended in a resolution plan, according to the data. To quantify, out of a total of 5,258 corporate insolvency proceedings initiated under the code till March, only 3,406 have been closed. Among those closed, as many as 1,609 proceedings have ordered liquidation, while 480 have ended in approval of resolution plans. The economic value of most of the companies that were liquidated had “almost completely eroded” even before they were admitted in the insolvency process, the IBBI report said. Their assets were valued at less than 8 percent of the outstanding debt amount. Indian lenders are left … [Read more...] about 47% of IBC cases ended in liquidation till FY22, shows IBBI data