Connect with us

Bad Credit

U.S. Government Sends Checks to Households, How to Use This Wisely

Published

on

The value of checks that the U.S. government is sending to help people amid the coronavirus outbreak may reach $1,000 or even more.

The U.S. Government is sending checks to households. This is reportedly to combat the effects of the economic malaise in the economy due to COVID-19. Sources say that the Secretary of the Treasury Steven Mnuchin indicated this yesterday at a white house conference.

He reportedly said that the funds would reach households across America immediately.

The amount that will reach people is still debated. However, the Trump administration has a figure: $1,000.

U.S. Government Is Sending Checks to Those in Need

While it may not sound like much to the high rollers, millionaires, and billionaires, it’s sizable for the average Joe. Mnuchin reportedly said:

“I think it’s clear we don’t need to send people who make a million dollars a year checks.”

As usual, Congress will be required to approve. That, however, seems to be a possibility as bipartisan support has already been garnered. This comes as a surprise to many. Republicans and Democrats these days generally don’t see eye to eye on almost everything. It’s different now: The American people are hurting.

President Trump indicated that the checks could start arriving in the mailboxes of Americans in as little as 14 days. According to sources, he said:

“That’s the way I want to go. I just want to get it done and have a big infusion, as opposed to going through little meetings every couple of days. We want to go big.”

For some, this will be a perfect opportunity to splurge as everything gets wound down due to COVID-19. This provides an unprecedented opportunity for others.

Checks Could Be Used for Many Things

For starters, those who want this relief from the U.S. government to make a big difference in their lives will take some serious decisions.
Liabilities such as rent, utilities, and other basic bills could be paid down using this. The payment comes in handy because no one knows for sure when things will get back to normal.

Other liabilities that need urgent attention such as credit card debts and other payments could receive a boost too. This allows for those with bad credit histories to do something about it if $1,000 can help.

For those whose financial situation is stable, putting the money in the bank is a great idea. The money could come in handy if incomes change for some reason. Otherwise, an investment in a mutual fund or two after a decade will produce some great results. adding the sum to a retirement investment account can also spur a new desire to grow retirement funds for many people.

On the other hand, donations to charities that are handling emergencies and solving problems is also a great idea. This is because such organizations almost always have a shortfall. And the needs out there at this time are many no doubt.

While some may look at donating the money to charity as being irresponsible, it’s being human too. Many people aren’t that fortunate as well.

Whatever the case, there are many uses for the U.S. government checks. All anybody has to do is look in the right direction.

Markets, News, Personal Finance

Christopher Hamman
Author: Christopher Hamman

Christopher Haruna Hamman is a Freelance content developer, Crypto-Enthusiast and tech-savvy individual. He is also a Superstar Content Developer, Strategy Demigod, and Standup Guy.

Source link

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Bad Credit

Evicted California renters at greater risk of getting COVID-19

Published

on

After 70 years in Monterey County, 87-year-old Mary Martinez moved in the middle of a pandemic, evicted from her modest one-bedroom, second-floor apartment at 1118 Parkside St. in north Salinas.

According to her former landlord, Martinez was evicted because she allowed a “violent man” to live with her, violating the conditions of her lease. Martinez said the man is her epileptic nephew.

Advocates say that while evictions like Martinez’s are rarer during the pandemic, landlords are feeling the financial squeeze. Some have sold rental properties to make up for lack of income. That can leave renters out in the cold when their new landlord raises the rent by hundreds of dollars or requires all renters move out before they take over the building.

Source link

Continue Reading

Bad Credit

New program to help Black-owned online businesses | Technology

Published

on

ATLANTA _ Many Black entrepreneurs struggle to get bank loans and professional help to launch new businesses. A new program aims to remove those stumbling blocks.

An Atlanta nonprofit and another business have committed $150 million to the 1 Million Black Businesses effort, which will make loans and provide financial and business advice to Black-owned startups and established small businesses. Atlanta-based nonprofit Operation Hope, which helps consumers improve credit scores, is kicking in $20 million, and Shopify, the online e-commerce is adding another $130 million for the loans and website-hosting services.

Other services firms providing expertise or help include Aprio, an Atlanta-based accounting firm, and First Horizon Bank.

It’s a package of products that many Black entrepreneurs couldn’t get through a bank or credit union, said John Hope Bryant, CEO of Operation Hope.

“A bank won’t lend you money unless you can prove that you don’t need it,” Bryant said. “That’s especially true with minority-owned small businesses.”

Small businesses with Black owners were half as likely to obtain business loans as whites, according to a Federal Reserve survey published earlier this year.

The initiative is the latest effort to help Black consumers and businesses enter the financial mainstream. Earlier this month, a group that includes rapper Killer Mike opened a digital bank aimed at Black and Latino consumers.

Banks and credit unions have tried for years to help Black consumers open checking and savings accounts. The efforts helped, as the number of U.S. households without bank accounts fell to 5.4% in 2019 from 6.5% in 2017, the Federal Deposit Insurance Corp. said Monday.

Consumers who own checking and savings accounts typically have access loans with better rates and a wider variety of financial services.

The federal government’s $660 billion loan initiative for businesses hit by COVID-19, the Paycheck Protection Program, also helped few Black-owned businesses, Bryant said. PPP loans were based on a company’s number of employees and its rent obligations. many Black-owned small businesses typically didn’t have enough workers to qualify and are based out of the owner’s residence.

Bryant said a bad credit history may not prevent applicants from receiving a loan.

He hopes more companies will contribute services such as insurance advice or software typically available only to well-established businesses.

Bryant noted that 1MBB is not a charitable organization, as participating companies like Shopify will likely get a pipeline of new business customers through the program.

“This is not pure philanthropy,” he said. “Shopify believes that Black-owned businesses are good businesses if they’re properly supported.”

Source link

Continue Reading

Bad Credit

This Week’s Top Car Deals & Analysis – October 30, 2020

Published

on

The final days of October offer a chance to take advantage of outstanding model year-end deals. Most offers end November 2, which means there isn’t much time left to enjoy this month’s best lease deals and deepest new car discounts. We even found incentives that can help those with bad credit buy a new or used car.

2021 car deals. Interestingly, 2021 new car incentives are showing some surprises. For example, Audi is already offering up to $12,000 in savings when leasing the 2021 e-tron all-electric crossover. We even learned that the new Genesis GV80 SUV will debut with a $589/month lease deal plus special financing rates.

Believe it or not, the 2021 Hyundai Veloster N could prove to be a great value despite a nearly $4,700 price increase compared to the previous year. That’s because our analysis finds that better incentives can make it just $10/month more expensive to lease than the 2020 model. Talk about getting more for your money.

Why are small cars bad to lease? Even though smaller cars typically come with lower price tags, that isn’t always the case when leasing. A mix of lower discounts, worse residual values, and smaller discounts can actually make a Nissan Altima cheaper than a Versa despite having an almost $10,000 difference in MSRP.

Shorter-mileage leases. More brands are offering shorter mileage allowances on car leases. Although this is typically used to offer consumers more flexibility, we’ve found cases in which you can end up getting less for your money. If you don’t read all the fine print, this could make comparison-shopping difficult.

Bad credit car deals. If you have subprime credit, you may find it harder to get financed. However, some manufacturers are offering special incentives to help make cars & trucks more affordable. For example, Chevy is offering $2,000 in down payment assistance plus 9.9% APR for 72 months on the 2020 Trax.

$0 down leases. If you’re adamant about now putting down any money on a lease, you’ll love Sign & Drive leases. In addition to requiring no money down, $0 down lease deals can cover your first month’s payment. Even hot sellers like the Honda CR-V Hybrid offer $0 down and as little as $330/month on a lease.

The high cost of safety? Even though most major automakers are offering more safety features than ever before, our analysis finds that the highest IIHS safety ratings still require costly options in 2020. That’s starting to change, but the cost of buying a car with the most bragging rights is still very high.

Disaster relief. Those affected by some of this year’s natural disasters should be aware that automakers are offering assistance. California wildfire assistance programs like Ford Employee Pricing can save thousands when replacing a car. Similarly, a 2020 hurricane relief program from GM offers $1,000 in savings.

Spooky loan situations. There are some scary scenarios you can avoid when getting a car loan. However, boosting your credit score is possible with some determination because negative items on your credit report fall off after 7 years. Our network of dealers is specially equipped to help those with bad credit.

Upcoming vehicles. Genesis finally revealed the new GV70, a small luxury crossover based on the highly-rated G70 sedan. Whether it’s a redesigned car, truck, or SUV, odds are you’ll find it on our Previews page. That said, as we reported last week, discounts ahead of a redesign can result in substantial savings.

This Month’s Cheapest Lease Deals »



Source link

Continue Reading

Trending