Credello: A New Survey Finds This Is How Much Money You Should Have In Your Emergency Fund
NEW YORK – September 20, 2022 – (Newswire.com)
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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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 Sexual Assault
Photo by Judeus Samson on Unsplash
WASHINGTON – September 20, 2022 – (Newswire.com)
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TruChoice’s SPD Team Helps Financial Professionals Excel
The Specialized Products Division provides assistance in navigating the fastest-growing segment of the annuity space, registered index-linked annuities (RILAs)
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 solutions@tcspecialized.com. 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
mediarelations@truchoicefinancial.com
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TruChoice’s SPD Team Helps Financial Professionals Excel
Credello: How Much Does Missing Student Loan Payments Hurt Your Credit Score?
NEW YORK – September 20, 2022 – (Newswire.com)
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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Credello: How Much Does Missing Student Loan Payments Hurt Your Credit Score?
Sandbox Launches Coolmath Coding to Teach Kids How to Code
Coolmath Coding Robot with coding blocks with Coolmath Coding
NEW YORK – September 20, 2022 – (Newswire.com)
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Credello: Can You Ask for a Refund on Student Loan Payments?
NEW YORK – September 20, 2022 – (Newswire.com)
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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Credello: Can You Ask for a Refund on Student Loan Payments?
John Keshi’s New Book ‘The Experiences of a Care-Giver’ is a Thoughtful Story About Mental Health Patients Told From the Perspective of a Mental Health Worker
BINGHAMTON, N.Y. – September 20, 2022 – (Newswire.com)
Fulton Books author John Keshi, a native of Nigeria who is now an American citizen living in New York, has completed his most recent book “The Experiences of a Care-Giver”: a touching and potent book about the real-life experiences of patients struggling with their mental health.
Author John Keshi writes, “During my sojourn as a nursing student, I had worked in hospitals and skilled nursing facilities in Southern California. When I got to Creekside, I learned quickly that working in a mental health facility called for more patience than was required in hospitals and other health centers.”
Published by Fulton Books, John Keshi’s book details the lives of mental health patients, told from the perspective of mental health workers working with the patients on a daily basis, not from the perspective of a psychiatrist. Specifically, the author’s experience working at Creekside Rehabilitation and Behavioral Health in Santa Rosa, California.
Keshi describes Creekside, writing, “The center was a long-term mental health facility. Patients were referred to as residents. Their stay ranged from a few months to over a year in some cases. The center catered to the mentally ill and people with substance abuse and alcohol problems. The well-being of the residents was the responsibility of the nursing department. The rehabilitation arm of Creekside had the task of providing the residents with coping skills to enable them to get back into society after their release from the center. Classes such as cooking were among some of the skills taught to the residents by the rehabilitation department.”
Keshi provides a unique and enlightening perspective to mental health care by focusing on the lived experiences of the patients.
Readers who wish to experience this inspiring work can purchase “The Experiences of a Care-Giver” at bookstores everywhere, or online at the Apple iTunes store, Amazon, Google Play, or Barnes & Noble.
Please direct all media inquiries to Author Support via email at support@fultonbooks.com or via telephone at 877-210-0816.
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Cyndee Fields’s New Book ‘Kiki the Camper Cat’ is a True Story About Rescue and Companionship That Follows a Kitten Who Finds Comfort With a Loving Family
EAGAN, Minn. – September 20, 2022 – (Newswire.com)
Fulton Books author Cyndee Fields has completed her first children’s book “Kiki the Camper Cat”: an engaging children’s story that invites young readers and listeners to join Kiki on her adventure as she finds her “furever” home with Dora the cat and a big, red, goofy dog.
Cyndee has served on the Eagan City Council for over 20 years and has been involved in her community since 1993. She has had a love of all animals all of her life. Cyndee has often said she is “saving the world one cat or kitten at a time,” while finding homes for 11 kittens.
Cyndee and her husband, Larry Lindboe, moved their camper to Willow Point Campground in Waterville, Minnesota, in the spring of 2020, and on July 11, they met Kiki and her kittens.
Cyndee begins her story, told from Kiki’s point of view, writing, “I was a kitten living in a house with a family. I was able to go out and play and come inside to eat and sleep. One day, I was put in a carrier and driven far away to a place that was near a river and lake and a lot of campers, a place called Willow Point Campground.”
Published by Fulton Books, Cyndee Fields’s book introduces Kiki, who finds herself abandoned and with kittens on the way, feeling alone and scared. She soon finds a welcoming family that loves her more than she ever could have imagined.
Readers who wish to experience this heartwarming work can purchase “Kiki the Camper Cat” at select bookstores, or online at the Apple iTunes store, Amazon, Google Play, or Barnes & Noble.
Please direct all media inquiries to Author Support via email at support@fultonbooks.com or via telephone at 877-210-0816.
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Linda K. Strohecker and Sherry Wynne Tucker’s New Book, ‘A Portrait of Obedience: Book Study: Elizabeth Anne Jones’ is a Faith-Based Study on a Story Meant to Inspire
Recent release “A Portrait of Obedience: Book Study: Elizabeth Anne Jones” from Covenant Books authors Linda K. Strohecker and Sherry Wynne Tucker is a book study by Elizabeth Anne Jones, inspired by the book “A Portrait of Obedience” written by Linda Strohecker & Sherry Tucker. It is meant to compel those of faith who are sparked by a story to reflect and develop a deeper connection with God.
HARWOOD, Md. – September 20, 2022 – (Newswire.com)
Linda K. Strohecker and Sherry Wynne Tucker, a dynamic writing duo, have completed their new book, “A Portrait of Obedience: Book Study: Elizabeth Anne Jones”: an inspiring faith-based book study read. Elizabeth Jones wrote the study inspired by the book “A Portrait of Obedience” by Linda Strohecker & Sherry Tucker.
Strohecker shares, “Stories have a way of opening up our eyes and hearts to things we may not typically consider due to our own life experiences. Seeing the world through the lens of another allows us to ask questions, learn, encounter new ideas, and maybe even find a lost treasure of faith. A Portrait of Obedience is a story for all of these individuals. In its pages, a reader has the opportunity to revisit, strengthen, or perhaps for the first time see and understand for themselves, what faith is, who Jesus is, what the Bible says, and how life looks when faith is lived out.
“A Portrait of Obedience Book Study is a companion for those readers who want to allow the story to take on a more personal level—readers who want to reflect on what the story means to them and to their life. This book study allows a reader to ask questions, dig deeper, learn, grow, and discover truth for themselves. This study can be done individually or in groups to allow for more intimate discussion and discovery.”
Published by Covenant Books of Murrells Inlet, South Carolina, Linda K. Strohecker and Sherry Wynne Tucker’s new book uses the unique treasure of a story to inspire readers to strengthen their faith.
Readers can purchase “A Portrait of Obedience: Book Study: Elizabeth Anne Jones” at bookstores everywhere, or online at the Apple iTunes Store, Amazon or Barnes & Noble.
Covenant Books is an international Christian-owned and -operated publishing house based in Murrells Inlet, South Carolina. Covenant Books specializes in all genres of work that appeal to the Christian market. For additional information or media inquiries, contact Covenant Books at 843-507-8373.
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Author Raelyn Jansen’s new book, ‘With God All Things Are Possible’ is a collection of daily prayers the author has written to inspire others to praise God
Recent release “With God All Things Are Possible” from Covenant Books author Raelyn Jansen is a faith-based read that describes the author’s personal journey through prayer, reflecting on all the wonderful things God has granted her in life. Feeling truly blessed by the Lord, Jansen shares her prayers in the hopes that readers might take time to cherish all that God has given them as well.
NEW YORK – September 20, 2022 – (Newswire.com)
Raelyn Jansen, who was brought up as a Christian and dedicates her time to serving Christ, has completed her new book, “With God All Things Are Possible”: a compilation of daily prayers and devotionals to help inspire readers to reflect on what God has done for them, and how one can repay God with their worship and service.
“I started to write prayers and devotions of my daily life,” writes Jansen. “I hope that one day someone would read it and get comfort from what I said. I enjoy writing about things in my life that pertain to God, my almighty savior. One day, it will help other people who are in the same area of life as I was—to seek the Lord and follow the path that the Lord has for me.”
Published by Covenant Books of Murrells Inlet, South Carolina, Raelyn Jansen’s new book is a powerful tool for those looking to reconnect with God and grow their faith bit by bit each day. Each prayer serves as an invitation to bring readers back to God and cherish Him for all that is good in their lives.
Readers can purchase “With God All Things Are Possible” at bookstores everywhere, or online at the Apple iTunes Store, Amazon or Barnes & Noble.
Covenant Books is an international Christian-owned and -operated publishing house based in Murrells Inlet, South Carolina. Covenant Books specializes in all genres of work that appeal to the Christian market. For additional information or media inquiries, contact Covenant Books at 843-507-8373.
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