Bag Industry – Coach Factory Outlets 2014 http://coachfactoryoutlets2014.com/ Mon, 16 May 2022 08:39:55 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://coachfactoryoutlets2014.com/wp-content/uploads/2021/06/icon-2.png Bag Industry – Coach Factory Outlets 2014 http://coachfactoryoutlets2014.com/ 32 32 What if you can’t pay the medical bills? https://coachfactoryoutlets2014.com/what-if-you-cant-pay-the-medical-bills/ Mon, 16 May 2022 08:39:55 +0000 https://coachfactoryoutlets2014.com/what-if-you-cant-pay-the-medical-bills/ Are your medical bills and overdue notices piling up on your table? You might be tempted to throw them all away, but that won’t be the best solution. You can’t pretend your debt doesn’t exist even if you think you can’t afford to pay it back.About 61% of consumers with medical debt reported feeling stressed, […]]]>

Are your medical bills and overdue notices piling up on your table? You might be tempted to throw them all away, but that won’t be the best solution. You can’t pretend your debt doesn’t exist even if you think you can’t afford to pay it back.
About 61% of consumers with medical debt reported feeling stressed, while 49% lost sleep over medical bills and 23% were unwilling to repay existing medical debt. Do not give up repaying this debt. Here’s what happens if you don’t pay your medical bills.

What happens if you don’t pay your medical bills?

You will feel stressed

Of course, getting a $200 payday loan without a credit check can be a suitable solution to cover your medical expenses without a credit check. But if you already have a mountain of medical debt that you can’t handle, you might be afraid of phone calls and collection offices.

Some collection agencies have aggressive tactics to return the money unless you write letters begging them to stop these behaviors or find a lawyer to protect you. You may want to offer a reasonable monthly payment and negotiate this arrangement with the doctor’s office or hospital.

Having to apply for payday loans for this purpose also brings added stress. According to research on payday loans in America, most borrowers use payday loans to fund their living expenses over the course of months, while the average borrower is in debt for about five months a year.

Research shows that the first time consumers took out a payday loan, 69% used it to cover utilities, rent or credit card bills, while 16% used it as help with medical bills or auto repair.

Invoices can go to collections

You should take immediate action if the hospital billing department threatens to send your bills to collections. Medical bills on your credit report will seriously hurt your credit rating. You may need to work with the doctor’s office or hospital billing department if you want to avoid having your account sent to the collection agency.

Your credit rating may suffer

The health care provider may not send your account to collections. However, this does not mean that the result will be positive. The hospital may report missed or late payments to credit reporting agencies such as Equifax, Experian, or TransUnion.

Are Medical Bills Affecting Your Credit? Yes, once this information appears on your credit report, it goes into the Payment History category. This category accounts for 35% of your credit rating, so it can significantly lower your rating.

You can find a suitable solution

You should do your best to think about a settlement, payment plan, or some type of arrangement between you and the doctor’s office. The sooner you find a suitable solution, the more likely you are to avoid going to collections or lowering your credit score.

You can get a credit card with a 0% introductory APR for a long time. This option also depends on your credit rating, your ability to repay debt on time, and other factors.

It is possible to buy additional time

Did you know that credit reporting agencies must wait 180 days before posting outstanding debt on your credit report? They count 180 days after receiving information about your unpaid medical debt. In other words, you still have a grace period of six months to try to negotiate this debt and resolve it. Otherwise, it will show up on your credit report and damage your rating.

Is a medical loan right for you?

Many people decide to take out a personal loan or a medical loan to finance their bills. It is important that you define whether applying for a medical loan can be a beneficial decision in your situation. It is useful if:

You can afford monthly payments

Many loans can be repaid in monthly installments or installments. If you calculate the total loan amount and it can easily fit into your budget, you can withdraw that money. Make sure you fully understand the loan terms and APR, and get a decent interest rate.

You consolidate your medical debt

Some consumers have high-interest medical bills that want to be consolidated. This decision will help you get a lower interest rate, manage your monthly loan payments, and pay off debt faster.

Do not take out a medical loan if:

You qualify for special programs and grants

Consumers, who are eligible for assistance from government programs, grants, and charities, may not need to apply for a medical loan. Look for alternative solutions or ask your hospital for a hardship plan before you decide to take out a loan.

High APR

Borrowers with poor and fair credit (FICO score below 689) may get a high creditor APR. As a result, you will have to pay higher interest rates and the total loan sum might not be affordable for you. If you calculate the total amount and find it too expensive with APRs above 36%, it is better to look for other options.

to summarize

You cannot neglect your medical debt. If you have a pile of medical bills, you need to find a proper way to get rid of them. Negotiating a hardship plan with your doctor’s office or taking out a medical loan can save you the stress of the unpleasant consequences of non-payment.

If you don’t pay your medical bills on time, your debt can be collected while your credit score can take a big hit. If you want to maintain good credit and protect your credit history, follow our advice and think about the best solution for your current financial situation.

]]>
‘I lied to everyone I met’: how gambling addiction took hold of women in the UK https://coachfactoryoutlets2014.com/i-lied-to-everyone-i-met-how-gambling-addiction-took-hold-of-women-in-the-uk/ Sat, 14 May 2022 06:00:00 +0000 https://coachfactoryoutlets2014.com/i-lied-to-everyone-i-met-how-gambling-addiction-took-hold-of-women-in-the-uk/ IIt was Christmas Day in 2018 that things took a turn for Bev. By his own admission, it had been “a beautiful day”. “Everything was screwed up,” she said. “There was no reason why I should have played, but in my head – in a player’s head – it was Christmas Day, so you couldn’t […]]]>

IIt was Christmas Day in 2018 that things took a turn for Bev. By his own admission, it had been “a beautiful day”. “Everything was screwed up,” she said. “There was no reason why I should have played, but in my head – in a player’s head – it was Christmas Day, so you couldn’t lose. they wouldn’t do that to you on Christmas Day.

Within 90 minutes, the 59-year-old from Newcastle had bet £5,000. “I emptied my husband’s bank account,” she says The Independent. “I even borrowed money from my daughter pretending that I had an urgent bill to pay. I lost everything – and then I overdosed.

The UK is home to one of the largest gambling markets in the world, generating a profit of £14.2 billion in 2020. Gambling has historically been classified as a problem that largely affects men, but research of GambleAware from January this year revealed that the number of women treated for gambling had doubled in five years, with up to one million women at risk of experiencing gambling-related problems. He added that this figure could not represent only a small proportion of women experiencing gambling-related harm.

Bev’s gambling problems started about 16 years ago. “I entered a contest on a popular TV website and a game pop-up appeared and I thought, ‘I’ll give it a try,'” she said. Before that, she had never acted: “It just wasn’t something that interested me. It was like throwing away money. »

After depositing £10, she quickly won £800. “I couldn’t believe the money belonged to me,” she says. “I then started depositing more and more and that £800 disappeared very quickly. After that I was hooked.”

An early victory was also ‘the hook’ that kept Stacey, 29, from Derbyshire, back for more at the start of her gambling addiction. Her poison was slots and scratch cards. “It’s fast and completely mind-numbing to watch the wheels turn,” she says.



For women, gambling is an escape from overwhelming responsibilities and anxieties

The numbing effect of gambling is a big draw for many women who gamble, experts say. Liz Karter MBE, a leading British female gambling addiction therapist, says the forgetfulness offered by gambling can provide a space away from the stresses of everyday life. “You rarely hear women talk about loving the buzz or the excitement of the game, or loving the kudos that winning gives them like a lot of men do,” she says. The Independent.

“For women, gambling is about getting lost in an experience where, ultimately, they don’t think or feel anything. The focus on gambling is a distraction from stressful thoughts and feelings. It’s an escape from responsibility. and crushing anxieties.

It’s a familiar story to Tracey, 58, from Berkshire. “My game was never about the money,” she says. “It filled the void. When I was playing, I didn’t care about anything… the game took me out of my reality.

For Bev, things had started to fall apart long before that fateful Christmas and got worse over the years. As the head of the household finances, she had easy access to money, but unbeknownst to those close to her, she had used up all her credit cards and taken out loans to pay them off, which were paid directly into her gambling funds. She also borrowed money from friends, family and even people from work. “I lied to everyone I met,” she said. “I was in a terrible place mentally.

“My husband and I both make good salaries and I often waited until midnight on payday when the money came into my account each month. My husband was sleeping in his bed and within hours I was had screwed it all up.

All of the women spoke of the “ease” of online gambling and its 24-hour availability. Tracey describes the Internet as “the crack of the game”. She says, “When I started playing, places opened and closed. I might have been the first in and the last out, but there was still a closing time.



We have gambling in our homes, offices and purses…it’s everywhere

Before going online, Stacey had traveled between different bookmakers in an effort to avoid drawing attention to her gambling problem. Online, however, things were very different. “It was so easy. Nobody knew what I was doing.

Karter draws a direct link between an increase in gambling among women and its growing ubiquity. “We have gambling in our homes, our offices and our purses,” she says. “However, we need to look at any addiction in a social and mental health context. We are seeing an increase in stress, depression and anxiety in women leading to gambling self-medication…it is all too easy to get lost in the virtual world of online gambling.

“I don’t want anyone to feel as alone as I do”

(Getty Images/iStockphoto)

All three women found the support they needed through a women-only residential retreat with Gordon Moody, who is part of a network of organizations within the National Gambling Treatment Service that offer a range of treatments. “I went into it as a broken woman, but left feeling like there was hope,” Bev says. “They gave us the tools and strategies to stop you right before you placed a bet. It’s brilliant. Something just clicked and it worked.

Stacey admits she was initially ‘extremely skeptical’ about the service’s ability to help her, but describes it as ‘the best thing I’ve ever done’.

While all three women describe themselves as on the mend from the game, some of the aftermath is harder to forget.

Payday loans, credit cards — my debt was huge,” says Stacey. “I was moving house to house and living with friends because I couldn’t go anywhere with my bad credit. This is a long-term game issue that I’m still working on – it’s going to be a long time before I can get a house.



One of the worst things that happened when I tried to quit playing was when companies messaged you as a ‘VIP customer’ and said, ‘We haven’t seen you in a while – here’s £200 on your account”.

Bev would like to see major reforms in the gambling industry. “One of the worst things that happened when I tried to quit gambling was when companies messaged you as a ‘VIP customer’ and said, ‘We haven’t seen you in a while – here’s 200 £ in your account”. It was so bad.

“I also think they should do checks on new account holders, like when you apply for a loan,” she adds. “The number of times I’ve deposited thousands of pounds in a very short time…they must have realized I had a problem, but they encouraged it all the more.”

A government white paper addressing these issues is long overdue and is expected to be published this month. MP Carolyn Harris, chair of the all-party Parliamentary Gambling Harm Group, called the need for affordability checks, spending caps and independent assessments on new users “overwhelming”.

Stacey, Bev and Tracey all want more people to understand that this is a devastating condition that can and does affect women – but that help is available.

“It’s so important to reach out and talk to someone,” Tracey says. “No matter where you are from or how old you are – you will never be alone.”

Stacey agrees. “I don’t want anyone to feel as alone as I do. If you can get past the shame, there are so many places to go that specifically help women where you won’t be judged. Taking that first step is scary, but so worth it. There is hope.”

For information, support and advice on problem gambling, contact:

Gordon Moody (gordonmoody.org.uk), Aware of the bet (begambleaware.org), Gamblers Anonymous, which hosts a number of “female-favorite” online and real-life get-togethers (gamblersanonymous.org.uk), BetKnowMore (betknowmoreuk.org) and GamCare (www.gamcare.org.uk).

]]>
Tip recap: Nothing goes beyond money: Newly approved pilot program will provide $1,000 per month to 85 households – News https://coachfactoryoutlets2014.com/tip-recap-nothing-goes-beyond-money-newly-approved-pilot-program-will-provide-1000-per-month-to-85-households-news/ Thu, 12 May 2022 09:26:33 +0000 https://coachfactoryoutlets2014.com/tip-recap-nothing-goes-beyond-money-newly-approved-pilot-program-will-provide-1000-per-month-to-85-households-news/ City Council approved a pilot program at its May 5 meeting to provide monthly payments of $1,000 to 85 households for an entire year. Once people are accepted into the guaranteed income pilot, they won’t have to “prove” they still need the help, as many government-run financial aid programs normally require. The pilot project will […]]]>

City Council approved a pilot program at its May 5 meeting to provide monthly payments of $1,000 to 85 households for an entire year. Once people are accepted into the guaranteed income pilot, they won’t have to “prove” they still need the help, as many government-run financial aid programs normally require.

The pilot project will cost $1.18 million, with $152,000 going to TogetherTogether, a California-based nonprofit that will administer the program. The remaining funds, which were approved by the Board as an addendum to the fiscal year 2022 budget, will go to eligible families. UpTogether has experience administering direct cash assistance in Austin under the COVID-19 relief efforts, and works with the St. David’s Foundation on a similar guaranteed income pilot program.

These programs are guided by two fundamental principles: that the poor know better where to spend the money they have and that their needs can change more quickly than traditional public assistance programs (rent assistance, food allowances, childcare subsidies children, etc.) at the top. Austin Equity Director Brion Oaksin a memorandum to Council, referred to research by the city Innovation Office who found that fast-breaking financial “shocks” are “the most important driver[s] travel” as they add to other financial pressures – such as overdue bills that rack up late fees or interest-bearing payday loans – that can lead to eviction. Unrestricted income support, wrote Oaks, is not a “gift” of public funds, but an “essential investment in families and individuals” that can improve their health and fortunes to the point where they need less help from the sector long-term audience.

Mayor Steve Adler alluded to in his comments before the Board approved the program. “I just think [it’s] so misleading and so fake” that people call government aid programs “gifts,” he said. spend it in the most meaningful way for their family?” Adler also tied the guaranteed income program, which he hopes staff can expand and sustain in the years to come after the pilot, to the broader effort. of the city to reduce homelessness.

Mayor Pro Tem Alison Alter voted against the program, explaining in remarks before the vote that it was a complex decision for her. Alter acknowledged that the program would help families in need, but given the magnitude of the need in the city and the limited financial resources the city can deploy to meet that need, she felt it was not the right kind of program for the city. . “When I look at all the levers I have to help families meet basic needs,” Alter said, “I haven’t been able to conclude that this investment, at this time, is the best way for me. to meet those needs.” Council Members Pool Leslie and Mackenzie Kellywho both have similar reservations about guaranteed income (and, in Kelly’s case, the appropriate role of government), did not attend the May 5 meeting.

Guaranteed income programs have ambitious goals, and although similar programs exist in about 50 US cities, they remain largely untested as a means of reducing poverty. The Council’s vote to create the Austin pilot was postponed from its April 21 meeting in part because of questions about how to gauge its effectiveness; staff intend to work with Urban Institute, a DC-based think tank, to assess the success of the program. This analysis will include interviews with participants and stakeholders to identify potential improvements for future iterations of the program, as well as a “quasi-experimental quantitative analysis” comparing results for program participants and non-participants. Some suggested measures include the ability to cover an emergency expense of $400; the ability to access preventive health care and maintain a healthy diet; and the “ability to live life to the fullest”, which could be measured by how often caregivers prepare meals for children or have time for hobbies and interests.

CMs also raised concerns that Texas law does not allow for a guaranteed income program that is not intended to address specific public policy issues facing the city. Staff intend to focus on qualifying indicators to select participants, such as households at risk of eviction, utility customers who consistently miss payments, or people transitioning from homelessness to housing. with support services.

Right now, all the data we have about UpTogether’s success comes from the nonprofit itself. At a press conference earlier today, Ivanna Neri, director of UpTogether’s South West Partnership, said preliminary results from the St. David’s Foundation pilot project showed that all 125 program participants used the money to pay for basic necessities like housing, food, clothing and gasoline. Independent analysis of a publicly funded pilot project could go a long way to testing the underlying theory of guaranteed income: empowering people with unlimited financial assistance can be an effective and more dignified way to reduce poverty .

Do you have something to say ? the the Chronicle welcomes opinion pieces on any topic from the community. Submit yours now at austinchronicle.com/opinion.

]]>
What are the different types of personal loans? https://coachfactoryoutlets2014.com/what-are-the-different-types-of-personal-loans/ Tue, 10 May 2022 15:50:08 +0000 https://coachfactoryoutlets2014.com/what-are-the-different-types-of-personal-loans/ No one wants to be in a position where they have to rely on a loan to help them out financially, but we all have to accept that we may end up in that position eventually. Personal loans are one of the most common types of loans that people end up taking out at some […]]]>

No one wants to be in a position where they have to rely on a loan to help them out financially, but we all have to accept that we may end up in that position eventually.

Personal loans are one of the most common types of loans that people end up taking out at some point in their lives, and the reason is that personal loans have no specific purpose.

While mortgages, car loans, student loans, etc. have very specific purposes, personal loans can be for almost anything…almost.

But there are also many different types of personal loans you can get too, and each type is better suited to a person for different reasons. So, before you go looking for installment loans in Lexington, let’s take a look at the types of personal loans.

Explain personal loans

Personal loans are a type of installment loan, which means that you repay them in installments. This loan is given to you without even needing to use the money for anything specific.

Some lenders will allow you to check your offers online without affecting your credit score, but others will not, and when applying you should be aware that you will be required to disclose your personal and financial information and agree that they obtain firm credit. .

This can have a negative impact on your credit score, but only in a very minor and temporary way.

If you qualify, you will receive different offers and be able to repay over different periods, with different interest rates and payment rates.

The interest rates for these loans are usually fixed rate, and they will often remain fixed in monthly installments for the duration of the loan activity. You may also have to pay an administration or origination fee, and you will not get it back.

Should you avoid personal loans?

There are three particular types of personal loans that we recommend you avoid. These are payday loans, title loans and pledge loans.

Payday loans are short term and come with huge fees. They’re not always bad, especially if you’re money wise, but they tend to leave borrowers in a cycle of debt that often ends with taking out new loans to pay off old ones.

Title loans are easy, but you must use your car as collateral. Repayment terms can be short and interest rates high, this can add to the wear and tear on you in the long run, especially if you can’t afford it and find yourself at the end of a repossession.

Pawnbrokers can be a good alternative to payday loans, but you risk losing your items to the pawnbroker and you will often have to pay fees if you want to extend the repayment term.

What are the types of personal loans?

So, knowing all of the above, what are the different types of personal loans you can get?

Here are the main types of personal loans you are likely to come across.

Not guaranteed

Unsecured loans are loans that are not backed by collateral to protect the lender. Instead, they will usually have a higher cost in their interest rates, which means they may offer you a higher APR.

That being said, you are not putting any of your assets at risk by taking out an unsecured loan.

You will still be assessed on your credit score, income and debts, and you could get a rate of 6-36%.

Secure

Secured loans are the loans that are safe for a lender because you have to post collateral. This could be your house, car or other material possessions. This is often the case with mortgages and car loans.

If you are unable to repay the loan, your house/car may be repossessed.

Fixed rate

The majority of personal loans are fixed, which means the rate you pay and the monthly payments you make to repay the loan will remain the same for the life of the loan.

These fixed rate loans are great for keeping your monthly payments consistent on long-term loans.

Co-signed

Co-signed loans are best if you have bad credit and cannot qualify on your own.

Someone else will co-sign the loan, but they won’t have access to your funds. That person will still be in trouble if you don’t make the payments, though.

A person who is a co-signer will generally have great credit.

Floating rate

Variable rate loans are calibrated by banks, and depending on how it goes up and down, your loan will do the same. You will usually get a lower APR for this, and there will often be a cap on how much this can change over time.

They are not widely available, but are usually found on shorter term loans.

Debt Consolidation

Debt consolidation personal loans are actually a popular type of personal loan. This type of personal loan will take all of the loans you are currently paying off and consolidate them into one large lump sum.

This is ideal as it reduces the amount you have to pay. How?

Well, if you have multiple loans at different interest rates, it will cost you more in the long run, when you consolidate your loans into a personal debt consolidation loan, you only have one interest rate. interest with which you have to deal.

Credit line

Personal lines of credit are revolving credits, and they are much like a credit card, more than a personal loan. Instead of getting a lump sum of money, you will have access to a line of credit from which you can borrow as needed.

With this, you will only have to pay interest on the money you borrow

It works best when you need to borrow money for running costs or if you have an emergency.

This article does not necessarily reflect the views of the editors or management of EconoTimes

]]>
Mother awaiting heart transplant shares her story https://coachfactoryoutlets2014.com/mother-awaiting-heart-transplant-shares-her-story/ Sun, 08 May 2022 09:01:17 +0000 https://coachfactoryoutlets2014.com/mother-awaiting-heart-transplant-shares-her-story/ Share on PinterestAfter giving birth to her second child, Zuleyma Santos was diagnosed with a rare form of heart failure and placed on the waiting list for a heart transplant. Photograph courtesy of Padilla Co Mother of two, Zuleyma Santos, works with the American Heart Association to raise awareness of the dangers of heart disease […]]]>

Share on Pinterest
After giving birth to her second child, Zuleyma Santos was diagnosed with a rare form of heart failure and placed on the waiting list for a heart transplant. Photograph courtesy of Padilla Co

Mother of two, Zuleyma Santos, works with the American Heart Association to raise awareness of the dangers of heart disease in young adults.

On paper, you’d think that now 37-year-old Zuleyma Santos had it all.

Two new children born in as many years. A retail career she loved. A devoted and loving husband who, despite cancer, was always there for her and a huge, close and supportive family.

This should have been the time of his life.

But within those events came a blockbuster: Santos developed a rare and often fatal heart condition caused by the pregnancy.

That’s why today, she smiles as she adjusts the still-there backpack on her shoulder that holds 10 pounds of batteries, constantly working to keep the device that keeps her heart going while she waits for a heart transplant.

Although there were signs – and a diagnosis – after the birth of her second child in 2019, no one understood the gravity of the situation, and Santos, immersed in the beginning of his life as a parent and concentrating on her husband’s cancer treatments, did not push.

“I think there were symptoms that went unaddressed,” she told Healthline. “I have always been a strong person. You will never hear me say “oh it hurts”. It is not me.

This “go for it” attitude could have proved fatal with the birth of her second child.

But it also launched her into a space she never thought she would be in – spokesperson for the American Heart Association.

“I felt I needed a way to reach people. To help them know how to speak for themselves.

“I never thought I would have heart failure or my partner would have cancer, at least not when our kids are babies with dirty nappies lying between my hospital bed. But I’m here. And if I can be the voice they hear – knowing there are resources out there – then so be it.

Santos was holding her then two-day-old baby in the hospital when suddenly she could barely breathe.

“I called the nurse and said ‘hold baby, something’s wrong with me!” she remembered. “I couldn’t breathe and thought I was losing my life.”

She was examined, tested, and then diagnosed. It was peripartum cardiomyopathy, they told her, a form of heart failure that occurs in the last month of pregnancy or the first few months after giving birth.

The baby went home, but Santos remained in the hospital for four more days. She was stabilized and told to rest and see a follow-up cardiologist once home.

She did, but as at every cardiology visit she was told that she had passed all the exams and that she had been given medication that stabilized her, she made a decision.

“It was time to get back to normal life,” she said. “I was like ‘I feel fine. Why are you telling me I have this? So I went back to my life: working, taking care of the kids and taking care of my husband.

No one blinked or tried to steer her in another direction, she said.

In March, the pandemic shutdown hit, a “blessing”, she said, because although it was hard to lose her job, it was great to be “home and s ‘taking care of the children’ while her husband returned to the hospital to fight his cancer. As stressful as it may seem, she said, she felt good at home and confident in her health.

Then summer came. In July, she was struggling,

“I felt tired, exhausted and couldn’t eat well,” she said.

But the postpartum heart diagnosis didn’t cross her mind.

“I didn’t really think it was my body,” she said. “I thought it was the summer heat. And you know, taking care of two babies and a husband battling cancer. It’s wreaking havoc. »

Then it got worse. “I couldn’t even lift my daughter’s legs to change a diaper,” she recalls.

She went to the emergency room – in the middle of the pandemic – with swollen legs, nausea and exhaustion. Although she was told of the earlier diagnosis, she says, they sent her home and told her to try eating differently.

Worried, she tried to get in touch with a cardiologist, but the pandemic shutdown also made that difficult. She got an appointment for the end of October and was hoping for the best.

Five days after that ER visit, she suddenly plummeted and realized she was in trouble.

“I told my husband to call an ambulance,” she said.

The last thing she remembers is being intubated. She woke up on November 3 and was told she had stage four heart failure and needed a heart transplant.

“It was very hard to hear,” she said. “I didn’t understand how I, at my age, got to this.”

It’s not an uncommon way for someone his age to think.

“It underscores the importance of recognizing this disease and heart disease in general,” Dr. Eugene DePasquale, a cardiologist at USC’s Keck Medicine, who treats Santos, told Healthline.

“The leading cause of death in the United States [based on data gathered pre-COVID-19] is heart disease,” he said. But when people look [based on their symptoms] they search for ‘cancer,’” he said.

He said the data suggests that less than three per cent of people looking for symptoms search online for heart disease.

The media, he said, reports on suicide, terrorist deaths and cancer, but not so much on heart disease.

Also, he said, younger heart patients tend to have different symptoms that are more focused on the gastrointestinal tract.

“Younger patients, in particular, can be missed,” he said of the cardiac diagnosis. “Not only by the patient but by the [medical experts] as well.

That’s why he and his team are thrilled to have her share her story while working on a heart transplant.

“She’s a special woman,” he said. “We are very grateful to him. She’s been through a lot, but she still does things like that. She is part of our family and vice versa.

Santos went home with this backpack charging her HeartMate pump, which will do the work of a heart until she receives a transplant.

DePasquale said because Santos developed antibodies during that second pregnancy that spurred heart disease, making her pool of donor hearts very small. The Friday before Mother’s Day, they were supposed to start working on getting those antibodies out of her.

She came home hopeful about it and grateful to be alive, as well as ready to take over from her ailing husband, who had taken care of the children with the help of his family during his recovery. to the hospital.

“I could feel he was waiting for me – clinging to his health to take care of things until I could,” she said.

She was right. She arrived home on December 29. On January 16, they threw a happy third birthday party for their son.

A week later, her husband went to the hospital. On February 27, he was at home in hospice care where he died shortly after.

Still, Santos is grateful and positive.

‘He gave me the strength to do it,’ she said of raising two children as a widow, battling heart disease while waiting for a transplant and being a doorway. -word of heart health.

“He did it for me, and now it’s my turn to do it for him. I’m going to support this family, keep these children happy.

She works hard with her doctors to get the heart transplant and speaks out.

Says DePasquale, she makes a difference in more ways than she realizes.

“We are very grateful to him,” he said. “She helps put this into perspective and encourages others to be proactive and fight for the symptoms to be recognized.”

It also, he said, gave visibility into how heart pumps work. The HeartMate pump has been used by people as well-known as former Vice President Dick Cheney, he said, but the powerful image of an ordinary woman living with someone could help many.

“It’s not as scary as some people think,” he said. “She can help people to accept that better.”

Santos looks to the future and a new heart with hope.

Doctors told her she probably had signs of heart disease after the birth of her first child. And while that might have meant avoiding some of the extreme illnesses, it would have changed something else as well.

“They would have told me not to have any more children,” she said. “I might not have had my daughter. And you know, I wouldn’t change that for the world.

]]>
COVID woes prompt more states to require financial literacy classes https://coachfactoryoutlets2014.com/covid-woes-prompt-more-states-to-require-financial-literacy-classes/ Tue, 03 May 2022 18:11:36 +0000 https://coachfactoryoutlets2014.com/covid-woes-prompt-more-states-to-require-financial-literacy-classes/ Posted May 3, 2022 6:11 a.m. Elaine S. Povitch Stateline Studies have long shown that high school students are woefully misinformed about personal finances and how to manage them. But the COVID-19 pandemic, which has revealed how many American adults are living on the financial edge, has spurred ongoing efforts to make financial literacy classes […]]]>

Elaine S. Povitch

Stateline

Studies have long shown that high school students are woefully misinformed about personal finances and how to manage them. But the COVID-19 pandemic, which has revealed how many American adults are living on the financial edge, has spurred ongoing efforts to make financial literacy classes a school requirement.

Seven states now require a stand-alone financial literacy course as a high school graduation requirement, and five more state requirements come into effect within the next year or two. About 25 warrants at least some financial training, sometimes as part of an existing course. This year, about 20 other states have considered establishing or expanding similar rules.

Opponents of state mandates say the requirements, while laudable, may encroach on the limited time available for other high school electives and would impose costly demands on teacher training or hiring.

Nevertheless, financial literacy courses are gaining ground.

“I think there’s a lot of momentum now; many more states have legislation pending,” said Carly Urban, an economics professor at Montana State University who has studied financial literacy. In seven states — Alabama, Iowa, Missouri, Mississippi, Tennessee, Utah and Virginia — “almost all schools require it,” she said, though some graduation prerequisites don’t come into play. force only in 2023.

Over the past two years, Nebraska, Ohio, Rhode Island, and most recently Florida have passed laws making financial literacy a staple in high schools within a year or two. In North Carolina, graduation requirements take effect in 2023.

Thirty-four states and the District of Columbia introduced bills addressing financial literacy in the 2021-22 legislative sessions, according to the National Conference of State Legislatures. Of these, about 20 focus on secondary schools.

The Kentucky and District of Columbia bills appear to take into account that student-athletes are now allowed to earn money for the use of their name, image or likeness. None of the measures require secondary schools to teach financial literacy. But the Kentucky bill, which the governor signed into law, requires colleges to set up financial literacy workshops for student-athletes. The DC bill would encourage colleges with student-athletes to teach financial literacy.

Last month, Republican Florida Governor Ron DeSantis signed a bill calling for students entering high school in the 2023-24 school year to take a financial literacy course as a condition of graduation. . The new law provides a half-credit course on personal money management, including how to open and use a bank account, the meaning of credit and credit scores, types of savings and investments and how to get a loan.

At a signing ceremony, DeSantis touted the law as something that “will help improve the ability of students in financial management, when they find themselves in the real world.”

Financial literacy is an issue that is remarkably bipartisan. Rhode Island Gov. Dan McKee, a Democrat, sounded a lot like DeSantis when he signed Rhode Island’s requirement for financial education in high schools last year.

“Financial literacy is key to a young person’s future success,” McKee said. “This legislation paves the way for our public high schools to provide young people with the skills they need to achieve their financial goals.”

Urban, from Montana, said state policies that require stand-alone financial literacy courses help students the most, especially if states set standards on what topics should be included in the curriculum. . Most courses last one semester.

Some states use materials provided by the nonprofit Next Gen Personal Finance, which offers a free study guide and classroom materials for teaching financial literacy, to help set the standards, while others have expanded units already included in economics, math, or social studies courses.

Next Gen’s free courses include tutorials for teachers, plus in-class study guides on topics like managing credit, opening checking and savings accounts, budgeting, paying for school academics, investing, paying taxes and developing consumer skills.

In a 2018 study, only a third of adults could answer at least four out of five financial literacy questions on concepts such as mortgages, interest rates, inflation and risk, according to the Foundation for Financial Literacy. Financial Industry Regulatory Authority Investor Education. Financial literacy was lower among people of color and youth.

According to the Organization for Economic Co-operation and Development, about 16% of 15-year-old American students surveyed in 2018 did not meet the basic level of financial literacy skills.

But with a little education, those numbers can improve, according to Urban studies.

“The results are striking,” she said in a phone interview. “Credit scores go up and delinquency rates go down. If you’re a student borrower, you go from low to high interest, you don’t accumulate credit card debt, and you don’t use private loans, which are more expensive. Additionally, his research found that young people who have taken financial literacy courses are less likely to use expensive payday loans.

Even the teachers who run the classes tend to see an increase in their savings.

“If access remains limited – especially for students who have the most to gain from education – state policy may be the only option to ensure all students have access to personal finance before becoming financially independent,” Urban wrote in a 2022 study of high school personal finance courses.

The California Assembly Committee on Education unanimously approved a high school financial literacy bill last week. Committee chairman Patrick O’Donnell, a Democrat and former high school economics teacher, said financial concepts like individual retirement accounts, Roth IRAs, loan terms and other things are “difficult to understand… in their head”.

Educators need resources to teach these concepts, he said, noting that when he was a teacher he wrote his own course materials for teaching financial literacy.

The COVID-19 pandemic has underscored how few Americans are prepared for financial emergencies, giving new impetus to financial literacy requirements, according to John Pelletier, director of the Center for Financial Literacy at Champlain College in Vermont. “COVID woke people up,” he said in a phone interview.

He cited a 2020 Federal Reserve study that showed many Americans couldn’t come up with $2,000 in an emergency, and “it really hit home when people were forced off work. and collect a paycheck. If policymakers haven’t found a way to get money from people, we’re dealing with more than just paying the rent; we face hunger and homelessness.

Pelletier estimates that about 30% of public school children now have access to financial literacy classes.

But not all financial literacy bills made it through the legislative process. A bill in Wisconsin this year died after objections from the Wisconsin Association of School Boards.

Ben Niehaus, director of member services for the association, said his group agreed with the intent, but was concerned about the rapid one-year timeline and the possibility of “compromising elective choices”.

The bill’s sponsor, Republican State Rep. Alex Dallman, said in a phone interview that he hopes to reintroduce the bill next session, possibly with only a half-credit course. .

“In our current economy, we’re taking out massive loans, not paying them back, and we have to be smarter about how we handle money,” he said. He added that technical schools across the state like the idea of ​​teaching finance because it could lead more students to conclude that they should forgo an expensive college education for a lucrative career in the trades.

But Niehaus said a financial literacy requirement could take time out of vocational electives, such as manufacturing courses, that many Wisconsin high schools have started offering.

“We try to add these experiences to meet the needs of the labor market with more than a high school diploma and less than a four-year diploma. There are only so many hours in a day,” Niehaus said.

“Yes, it’s important, but career and technology education is also important, and we think local school boards should decide.”

Stateline is a nonpartisan, nonprofit news service of the Pew Charitable Trusts that provides daily reports and analysis on trends in state politics.

– 30 –

]]>
Credello: how do easy payday loans work? https://coachfactoryoutlets2014.com/credello-how-do-easy-payday-loans-work/ Mon, 02 May 2022 11:42:33 +0000 https://coachfactoryoutlets2014.com/credello-how-do-easy-payday-loans-work/ NEW YORK – May 2, 2022 – ( Newswire.com ) You’ve probably seen ads for payday loans that say they’re easy to get. There are TV commercials and even billboards advertising them. However, you may not know what an easy payday loan is, how you can go about getting one, or how to get out […]]]>

NEW YORK – May 2, 2022 – (

Newswire.com

)

You’ve probably seen ads for payday loans that say they’re easy to get. There are TV commercials and even billboards advertising them. However, you may not know what an easy payday loan is, how you can go about getting one, or how to get out of it. We’ll talk about it now.

What is an easy personal loan?

An easy payday loan is a loan that is meant to tide you over until payday. The idea is that you can get quick and easy cash to pay your bills and then repay the loan once you get paid. To get one, you can go through a payday lender.

These entities usually make it easier to get approved and transfer your funds. If you’re not sure if you should go ahead, you can also use a tool like a personal loan calculator to determine if this is the best option for you.

Is this a smart decision?

If you need cash until payday, a payday loan can be a tempting option. The thing to keep in mind is that with these loans you will usually pay a higher interest rate than with any other type of loan.

The reason lending entities can get away with these higher interest rates is because of lower credit standards and convenience. You shouldn’t necessarily let the rates keep you from getting this type of loan, but you should be aware of how the system works. High interest rates can trap people in a payday loan cycle, where they need loan after loan to get by.

How do you get one of these loans?

If you know how one of these loans works and you still want one, you can search online for entities that will lend to you. You won’t need a great credit rating, and sometimes you might not even have to submit to a credit check.

You will need to fill out a form where you will tell the lending entity your name, address, income, and a few other details. Then you can wait for approval. These companies will usually let you know if you’ve been approved fairly quickly.

If the lender accepts the form, they will then transfer the money to you. If you have a bank account, you can get the money deposited within one business day.

Other details

You should know that you will have to repay the loan quite quickly. Usually, the lending entity will want this money back within 14 to 21 days. You can usually get a loan for an amount ranging from $100 to $1,000.

You can also spend money on almost anything. That’s one thing that makes these loans so appealing: they don’t come with the restrictions that can apply to other types of loans. You could spend the money on unexpected bills, car repairs, emergency medical care, rent, groceries, etc.

This type of loan could be for you

If you need some cash until payday, an easy payday loan might be a viable option for you. You can get one if you don’t have great credit, as many lenders won’t even do a credit check. Payday lenders are more lenient with their terms because they charge a higher interest rate.

Typically, to get a personal loan, you find a loan with acceptable rates, then fill out an online form. It shouldn’t take long for the lender to get back to you and let you know if you qualify. If they say yes, you can expect that money to be deposited into your account within one business day.

If you need cash quickly for some short-term expenses, this might be a suitable way to get it if you don’t mind paying a higher interest rate than you would with other types of loans.

Press Release Service by

Newswire.com

Primary source:

Credello: how do easy payday loans work?

]]>
Celebrity barber Mark Maciver talks to ME & MY MONEY https://coachfactoryoutlets2014.com/celebrity-barber-mark-maciver-talks-to-me-my-money/ Sat, 30 Apr 2022 20:51:53 +0000 https://coachfactoryoutlets2014.com/celebrity-barber-mark-maciver-talks-to-me-my-money/ Celebrity barber: Mark Maciver is better known as SliderCuts Famous barber Mark Maciver was once paid £5,000 to cut a client’s hair, which took him less than an hour. Maciver, better known as SliderCuts, is one of the country’s most famous barbers and cuts hair for Stormzy, Anthony Joshua, Janet Jackson, author Reggie Yates and […]]]>

Celebrity barber: Mark Maciver is better known as SliderCuts

Famous barber Mark Maciver was once paid £5,000 to cut a client’s hair, which took him less than an hour.

Maciver, better known as SliderCuts, is one of the country’s most famous barbers and cuts hair for Stormzy, Anthony Joshua, Janet Jackson, author Reggie Yates and rapper Tinie Tempah.

The 37-year-old is married to artist Lakwena Maciver and lives in Stoke Newington, north London, with his two young children. His book, Shaping Up Culture, has just been published.

What did your parents teach you about money?

My dad wasn’t there to teach me anything about money. But my mother, who was born and raised in Nigeria, taught me and my three siblings that we had to work hard to earn a living.

When I was young, she owned a newsagent. When I was four, she was robbed and everything was taken. She had no insurance. I don’t think she even understood things like that. She ended up having to close the shop.

Then we were evicted from the apartment we lived in above the store and became homeless. We had gone from being comfortable to living in a homeless shelter practically overnight. Finally, we were accommodated by the town hall.

But we constantly had to move because the accommodation was only temporary. Every time I made friends at a new school, we had to move again. My education was disrupted and no one realized how far behind I was in my reading.

By the time we got a council house, I was ten years old and had attended five different schools. We lived on allowances and free school meals. Money was tight, but we survived.

Do you always have enough to eat?

No. I remember one time, just before we became homeless, we only had to eat two slices of bread at five. My mother said, “Cut each piece in half, and each of you four children takes one. But my older brothers refused. They said that me and my younger brother should have a slice each instead. It’s not the hunger I remember. It’s that time in the kitchen with my brothers. I’ll never forget that.

Have you ever struggled to make ends meet?

Yes, five years ago I bought a three bedroom flat in Stoke Newington to live in with my family and needed to fix it up to make it livable.

It was overkill to buy it in the first place. Then I lost money on various builders. I was also investing in my business at the time, buying the lease for my hair and beauty salon.

I used up my credit cards, took out payday loans, borrowed money from friends — and friends of friends — and got loans on two rental properties I owned to make ends meet. I had a lot of interest to pay and in total I ended up in debt of £350,000.

Have you ever been paid stupid money?

Yes. I once gave one of my high profile clients a haircut – a skin fade – that took 45 minutes. He told me to charge him £5,000 for it. I won’t say his name because he might not want people to know.

What was the best year of your financial life?

Last year. I’ve made more money in the past year than ever before in my life: six figures. In addition to making money from my business, I also give corporate talks on the back of my book, Shaping Up Culture, and do brand collaborations.

What’s the most expensive thing you’ve bought for fun?

It was a used black Mercedes C-Class for £14,000 11 years ago. I only owned it for two years. I sold it when my oldest brother passed away to pay for his funeral and other expenses. He had lived in Germany, so it cost £5,000 just to get his body back to England.

What is your biggest financial mistake?

I tried to create a booking app for barbers in 2017. I invested £30,000 in the project and then found out it would cost an additional £30,000 to launch.

I realized what a mistake it was because the market was competitive and I was in over my head. I unplugged the plug.

Celebrity status: Maciver cuts the hair of Stormzy, Anthony Joshua, Janet Jackson (pictured), Reggie Yates and Tinie Tempah

Celebrity status: Maciver cuts the hair of Stormzy, Anthony Joshua, Janet Jackson (pictured), Reggie Yates and Tinie Tempah

What’s the best financial decision you’ve made?

Buying a flat in Dalston, London, for £160,000 in 2012 – then selling it for £310,000 in 2019 Lots of people told me not to buy, but it was thanks to this property that I was able to buy my other properties. Selling it helped me pay off some of my £350,000 debt. I am still over £100,000 in debt. But it’s more manageable now because my business has taken off. It’s easy by comparison.

Are you saving for a pension or investing in the stock market?

Yes. I started saving for a pension when I was 21 and have been saving regularly ever since. I also invested £2,000 in Amazon shares at the start of lockdown which are now worth over £4,000. A client advised me to buy the shares and it turned out to be a good investment.

Do you own a property?

Yes, the three bedroom apartment in Stoke Newington, my family home. I bought it for £405,000 in 2017 and it is now worth £520,000. I also own a three-bed flat near Tottenham Hale which is rented out. It cost £270,000 in 2015 and is now worth over £400,000.

What luxury do you give yourself?

I like a bottle of cherry cola. It costs £1.70 and I love the taste so much I take it every day. I think I need to go to rehab.

If you were Chancellor, what is the first thing you would do?

I would increase funding for schools in disadvantaged areas. I think working-class children deserve as good an education as children from wealthier households. I would also increase Universal Credit to what it was during the pandemic.

Do you donate money to charity?

Yes. I donate monthly to a dozen charities, including the Red Cross and my church. I am also sponsoring a child in Africa.

What is your number one financial priority?

My family. I want to make sure that I have enough money not only to educate my two children, but also to allow them to do activities like learning a musical instrument, gymnastics and swimming lessons.

Some links in this article may be affiliate links. If you click on it, we may earn a small commission. This helps us fund This Is Money and keep it free to use. We do not write articles to promote products. We do not allow any business relationship to affect our editorial independence.

]]>
More Accurate Lending Algorithms Turning Beforepay into Profitability, Says CEO https://coachfactoryoutlets2014.com/more-accurate-lending-algorithms-turning-beforepay-into-profitability-says-ceo/ Fri, 29 Apr 2022 01:02:42 +0000 https://coachfactoryoutlets2014.com/more-accurate-lending-algorithms-turning-beforepay-into-profitability-says-ceo/ Tarek Ayoub, founder of Beforepay, and Jamie Twiss, CEO. Source: provided. The fortunes of prepayment fintech Beforepay appeared to change on Thursday, after a new report contrasted losses with rapid customer growth and a significant reduction in debt forgiveness. Beforepay, launched in 2019, draws inspiration from the buy now, pay later industry with its spin […]]]>

Tarek Ayoub, founder of Beforepay, and Jamie Twiss, CEO. Source: provided.

The fortunes of prepayment fintech Beforepay appeared to change on Thursday, after a new report contrasted losses with rapid customer growth and a significant reduction in debt forgiveness.

Beforepay, launched in 2019, draws inspiration from the buy now, pay later industry with its spin on payday advances.

The Australian fintech offers users a short-term advance on their salary, typically up to $200, before automatically deducting those payments — plus a 5% service charge — when those users are paid.

The company made headlines in January when its shares fell some 42% within hours of its ASX debut, amid investor concerns over customer default rates and general market unease. market plaguing tech stocks.

Nonetheless, Beforepay’s active customer base grew to more than 158,000 in the March 2022 quarter, the company announced Thursday, which represents a 14% growth from the December quarter and a doubling from the previous quarter. March 2021 levels.

Perhaps more important for the fintech is the improvement in its net trading margin, which stood at $1.05 million in March 2022, compared to a loss of $750,000 in the previous corresponding period.

This turnaround was driven by lower net trading losses, ie expected and actual credit losses as a percentage of advances and Beforepay fees.

Net trading losses were 2.2% in March 2022, Beforepay said, compared to 3.1% in the prior quarter and 5.3% in March 2021.

Marketing costs more than doubled over the year to $6.4 million in the March quarter, but the company maintained it was on a positive trajectory.

“The continued momentum of user growth, increasing revenue and strengthening margins represents another step forward on our path to profitability,” CEO Jamie Twiss said in a statement.

Shares soared as much as 7.83% in the hours after the interim report was released, the Australian Financial Review reports, but remain well below their current January price of $3.41.

More precise algorithms behind the turnaround: CEO Jamie Twiss

Talk to SmartCompanyTwiss says a significant improvement in its risk assessment algorithms was behind the drop in credit write-offs.

Marking another parallel to buy now, pay later suppliers, Beforepay does not perform traditional credit checks, but instead relies on an internal screening and verification system.

“These algorithms – as we feed them more and more data, as our team of data scientists, which is an area where we have invested quite a bit, continue to work to refine and improve these models – their predictive power is become more and more precise”, he mentioned.

“And so as these models get better and smarter, with more and more data, it’s allowed us to make better decisions about who will get a salary advance and who won’t, and then what limit we are going to assign to this person.

Average Beforepay user earnings also increased over the year, from $44,458 per year in March 2021 to $56,182 per year in March 2022.

The fact that Beforepay customers have become “more affluent” has “also been a helpful factor in reducing net transaction losses,” says Twiss.

“We’ve always expected our average customer to look like the average Australian and that’s what we’re seeing,” he added.

Report amid cost of living fears

Avantpay’s results are supported by soaring inflation, raising the cost of essential goods and services while outpacing average wage growth.

Core inflation of 3.7% is well above the Reserve Bank of Australia’s target range of 2% to 3%, and general economic sentiment is now predicting that the central bank will raise rates of interest in May accordingly.

Even before these pricing pressures emerged, critics of payday advance services, including the Consumer Action Law Center, worried that pay-as-you-go services might offer advances that some users can’t afford. afford to repay.

“As a member of Australian society, I am concerned about the macroeconomic health of the country,” Twiss said, while maintaining that Beforepay acts as an “ethical and customer-friendly alternative” to traditional payday loans.

The Beforepay report also noted that the short term duration of its loans means that a 1% rise in interest rates would raise the cost of an average salary advance to 0.56% of the amount advanced, from 0. 52%.

“I’m very pleased with these results,” said Twiss.

“And I think we continue to show that the product works well for customers, that we create value and that the future of the company is bright.”

]]>
For recruitment and retention, some Minnesota companies are turning to same-day payment https://coachfactoryoutlets2014.com/for-recruitment-and-retention-some-minnesota-companies-are-turning-to-same-day-payment/ Wed, 27 Apr 2022 13:49:41 +0000 https://coachfactoryoutlets2014.com/for-recruitment-and-retention-some-minnesota-companies-are-turning-to-same-day-payment/ In 2020, “stimulus check” and “second stimulus check” were among the top 15 Google searches in the United States. In the same year, a report by Ernst and Young estimated that in the countries of the Organization for Economic Co-operation and Development (OECD), about 1,000 billion dollars in workers’ wages were sleeping in employers’ coffers […]]]>

In 2020, “stimulus check” and “second stimulus check” were among the top 15 Google searches in the United States.

In the same year, a report by Ernst and Young estimated that in the countries of the Organization for Economic Co-operation and Development (OECD), about 1,000 billion dollars in workers’ wages were sleeping in employers’ coffers every day.

“It’s basically been an interest-free loan from an employee to an employer,” said Aaron Fuchs, commercial vice president of Ceridian, a Bloomington-based human capital management firm. To laypersons, that means “it’s a software company and the software it provides is inherently HR-centric,” Fuchs said.

Stimulus checks were a way out. Ceridian is part of a growing industry that is disrupting “payday”.

In her role, Fuchs oversees Dayforce Wallet, one of several mobile apps on the market offering same-day payment. Also known as earned pay access, pay-on-demand, or real-time pay, the service allows employees to access their pay from their personal devices right after their shift. work.

Aaron Fuchs

Employee expectations have changed: 83% of American workers aged 18-44 believe they should have access to their pay at the end of each workday, according to a 2021 survey by The Harris Poll.

“Technology has caught up with and redefined so many other places in (people’s) lives,” Fuchs said, “They recognize that payroll is an area that really hasn’t changed since the 1980s.”

The company launched Dayforce Wallet in May 2020, expanding to Canada last year. Fuchs said it closed 2021 with nearly 1,000 customers, including large companies such as Danone and local businesses such as Lunds & Byerlys.

Since Ceridian rolled out its program during COVID to customers most in need of attracting new workers: retail, healthcare, manufacturing and hospitality.

Be competitive in the labor market

Amid high unemployment levels and a pandemic where many public-facing workers quit en masse, employers needed creative solutions to retain and recruit employees.

“We really wanted to leverage (same-day pay) and offer it to our people as a way to continue to differentiate ourselves in the workplace,” said Casey Enevoldsen, vice president of employee experience at Lunds. & Byerlys. “We see that the labor force continues to decline in its growth. It just means there will be fewer and fewer people available to do the work that employers are really looking to do, so we’ve been really focused on retention while trying to attract new talent.

Many employees say getting paid sooner is a key aspect of their financial well-being. Part of their strategy has been to look at a wide range of attractive measures to retain and attract new talent, including adding telehealth to various part-time and full-time positions in retail, manufacturing and support.

Enevoldsen said adding same-day payment was an easy transition because Ceridian already manages its payroll and offered the benefit at no cost to the grocer and its employees. Under this system, individuals directly deposit their paychecks into Dayforce Wallet from which they can choose to have their funds deposited to a mobile wallet or physical debit card.

Jeanniey Walden
Jeanniey Walden

Launched in 2016, DailyPay is associated with a number of fast food franchises, as well as companies such as Mall of America and Target. (The New York-based company opened its only other U.S. office in Minneapolis for operations and customer service in 2019.)

DailyPay marketing manager Jeanniey Walden said the frequency of payments had been delayed by the introduction of payroll tax in 1943. With businesses traditionally operating their own payroll systems, it was becoming cumbersome and more expensive to perform calculations for the numbers behind an employee’s paycheque. She said there were three information systems behind them: time and attendance, pay rate, and benefits like health care, dental, 401k, and wage garnishments. Financial services companies like DailyPay extract this information from employers and automate all these processes so that workers can see in real time how much they earn and in turn access that salary.

A third-party audit of DailyPay data found that employee turnover was reduced by 42% with DailyPay.

With the financial stress of the past few years, same-day payment has been key to competing with the gig economy and supporting workers on tight budgets.

“Most of the time when (people with multiple jobs are) asked, ‘why do you work for me here? and do DoorDash?’ It’s not because they don’t make enough money here. It’s like, ‘well, I need $50 this week because I have to make the deposit on my daughter’s braces’ or whatever,” Walden said.

Most non-farm workers in the United States are paid bi-weekly (every two weeks), according to a February 2020 snapshot of the US Bureau of Labor Statistics’ Current Employment Statistics survey. About a quarter are paid monthly or fortnightly.

Overcome financial precariousness

Keziah Vulu works part-time at Lunds & Byerlys. She accessed her pay the same day only once. Intrigued by the novelty, she ordered food.

“I like that it’s there, but I don’t like it when my (bi-weekly) checks are short,” Vulu said.

She instead expressed relief for the company’s January switch to weekly pay. Employees can withdraw their pay for the day from the app, with the pay being deducted from their weekly check.

“(With the move to weekly pay), I was able to budget and get what I wanted. It seemed harder to save when I was paid bi-weekly and easier to overspend,” Vulu said.

Several employees noted the same – either never using same day payroll or rarely using it.

“If we had stayed on a biweekly (schedule), I would have been more inclined to personally jump on that bandwagon. But with the weekly, it works. It’s good enough for me,” said operations supervisor Nina Urman.

Sara Cramer trains the employee support teams at DailyPay and also accesses same day payroll on occasion. Being paid bi-weekly, she said easy access to wages provides peace of mind around payday.

“That (need) date isn’t your whole life,” said Cramer, who said the service was more helpful in helping him understand his daily gross earnings.

MinnPostLogoThis story is brought to you by MinnPost.

The data confirms this. More recently, academic research has explored the impact of payment frequency on worker behavior. A 2019 article cited by the Bureau of Labor Statistics found that a causal relationship between frequent payments and household spending reads to help navigate personal finances. Earlier in April, the Consumer Research Journal published an article by business professors Wendy de la Rosa and Stephanie M. Tully and noted that “higher payment frequencies reduce consumer uncertainty in predicting whether they will have enough resources throughout a period . »

But in addition to allaying potential worries, financial services companies say same-day payment eliminates the need for payday loans, credit cards and other traps people fall into when they run out of money. money.

“DailyPay is used to complement and connect in really unique and different ways,” Walden said.

One example she noted: “As gas prices soared, many people who, again, normally had enough money, ran out of gas to physically get to work… They had no way to get to work if they didn’t use DailyPay to get gas for their car for the next two days to get them through to payday until their check pay arrives.

According to the Consumer Financial Protection Bureau, “Before the COVID-19 pandemic, consumers consistently paid more late fees on their credit cards each year, peaking at more than $14 billion in 2019. late fees assessed by issuers have declined to approximately $12 billion. in 2020 given record payout rates and public and private relief efforts. Even during the pandemic, late fees accounted for more than a tenth of the $120 billion consumers pay each year in interest and credit card fees. In 2021, late fees have increased again.

In March, a coalition of 19 lawyers urged the Consumer Financial Protection Bureau to ensure that lenders who buy now and pay later do not engage in practices that trap consumers in a cycle of debt. . , “rapid and exponential growth” during the COVID-19 pandemic.

DailyPay says 88% of users credit the app with reducing or eliminating their use of payday loans, and an average of $292 is saved each year among people who incur overdraft fees, according to a report by partnership.

Urman said the same-day pay benefit provides peace of mind and a good safety net.

“I know if your car breaks down or an unexpected bill comes in, or even a vacation, that sort of thing, it’s really good for people to be able to do something right away without adding credit card debt or borrow money like payday loans where they get hit with a lot of interest,” Urman said. “It can be huge. So even though for me it might not be a weekly need or monthly, it’s good to know that if something happens, you have some sort of backup system where you don’t have to put yourself in an extra bad position.

]]>