Finance – Feminaust http://feminaust.org/ Fri, 23 Apr 2021 10:02:56 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.1 https://feminaust.org/wp-content/uploads/2021/04/cropped-icon-32x32.png Finance – Feminaust http://feminaust.org/ 32 32 Most of the PPP loans went to larger Kentucky companies https://feminaust.org/most-of-the-ppp-loans-went-to-larger-kentucky-companies/ https://feminaust.org/most-of-the-ppp-loans-went-to-larger-kentucky-companies/#respond Fri, 19 Mar 2021 08:43:47 +0000 https://feminaust.org/most-of-the-ppp-loans-went-to-larger-kentucky-companies/ At least 48,370 Kentucky businesses have received cash loans to deal with the coronavirus pandemic under the federal paycheck protection program, according to data released by the US Small Business Association, but 73% of the money is went to only 13% of these companies. Until June 30, Kentucky companies had received $ 5.2 billion in […]]]>

At least 48,370 Kentucky businesses have received cash loans to deal with the coronavirus pandemic under the federal paycheck protection program, according to data released by the US Small Business Association, but 73% of the money is went to only 13% of these companies.

Until June 30, Kentucky companies had received $ 5.2 billion in loans, but only about 27% of that money went to the 41,932 companies that received loans under $ 150,000.

Instead, 73 percent of the money went to 6,438 businesses that received more than $ 150,000, including 53 businesses across the state that raised loans between $ 5 million and $ 10 million. About 60 percent of the 599,372 Kentucky jobs protected by the program were with companies that received loans over $ 150,000.

The SBA has released the names of companies that have received loans greater than $ 150,000, but has not released the exact size of their loans.

Among them are Wendy’s of Bowling Green, Ramaco Resources (which has no active mines in Kentucky), the National Tobacco Company, the Roman Catholic Diocese of Lexington and the Diocese of Covington.

There were 429 nonprofits that received loans over $ 150,000, including nine that got over $ 5 million. Several of the nonprofits were religion-based, including Crosswater Canyon, which is a nonprofit entity intended to support the Ark Encounter Museum in northern Kentucky. He received a loan of between $ 1 million and $ 2 million. Other notable nonprofits include the Speed ​​Art Museum, Center College, Georgetown College, and Asbury University.

In Lexington, five companies have received loans of more than $ 5 million – Blue Diamond Mining, Ramaco Resources, Rhino Energy, the Roman Catholic Diocese of Lexington and S&S Firestone. There were 22 companies in Lexington that received loans between $ 2 million and $ 5 million, a list that included Ball Homes, Don Jacobs Imports, McBrayer, Kentucky Eagle, Transylvania University, Paul Miller Ford, and Stoll Keenon Ogden.

At least $ 69 million went to Lexington companies that received loans over $ 2 million. Statewide, a low of $ 775 million went to businesses that received loans greater than $ 2 million, or about 14% of the total for all businesses in Kentucky. These companies said the loans protected about 359,886 jobs, or 12% of all jobs protected by the loan program.

The PPP loan program was intended to help keep small businesses afloat during the pandemic. This is a 1% interest loan that is forgiven by the federal government if 75% of the money is used for payroll and the company does not lay off or reduce employee wages. Congress initially set aside $ 349 billion for the program, an amount that was swallowed up so quickly that many small businesses were not immediately able to secure loans. Congress later approved an additional $ 310 billion.

Of loans over $ 2 million, about 85% were approved in the first round of loans. Of loans below $ 150,000, only 44% were approved in the first round, according to a Herald-Leader data analysis.

The SBA has not disclosed the names of businesses that have received loans under $ 150,000, making it impossible to know which small businesses have been helped.

Most companies reported how many jobs they had saved by receiving their loans, as well as whether they were minority or veteran owned. Only 14 companies that received a loan of more than $ 150,000 reported being black or African-American. None of them were in Lexington. Of the companies that received more than $ 5 million, only one specified their race – whites.

About 5 percent of businesses that received more than $ 150,000 reported being owned by women. No business owned by women has received more than $ 5 million.

Of the businesses that received less than $ 150,000, only 90 reported having a Black or African American owner. About 6 percent were owned by a woman and 254 reported belonging to a veteran.

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Planemaker Embraer cuts fourth quarter losses despite falling revenue https://feminaust.org/planemaker-embraer-cuts-fourth-quarter-losses-despite-falling-revenue/ https://feminaust.org/planemaker-embraer-cuts-fourth-quarter-losses-despite-falling-revenue/#respond Fri, 19 Mar 2021 08:43:47 +0000 https://feminaust.org/planemaker-embraer-cuts-fourth-quarter-losses-despite-falling-revenue/ Bloomberg Turkish cryptocurrency goes bankrupt as founder flees the country (Bloomberg) – One of Turkey’s largest cryptocurrency exchanges said it lacked the financial strength to continue trading, leaving hundreds of thousands of investors concerned their savings had evaporated as authorities sought to locate the 27-year-old founder of the company, who fled the country Confusion reigned […]]]>


Bloomberg

Turkish cryptocurrency goes bankrupt as founder flees the country

(Bloomberg) – One of Turkey’s largest cryptocurrency exchanges said it lacked the financial strength to continue trading, leaving hundreds of thousands of investors concerned their savings had evaporated as authorities sought to locate the 27-year-old founder of the company, who fled the country Confusion reigned over the number of Thodex exchange users affected and the amount at stake. location unknown, Thodex CEO Faruk Fatih Ozer has vowed to reimburse investors and return to Turkey to face justice after he does so. The government decided to block the company’s accounts and police raided its Istanbul headquarters. Losses could reach $ 2 billion, according to the Haberturk newspaper, and an attorney for victims said the money invested by around 390,000 active users had become “unrecoverable.” . Both figures have been disputed by Ozer. About 30,000 users have been affected, he said in a statement on the company’s website Thursday. As authorities and customers tried to determine the details of what happened, a senior official from President Recep Tayyip Erdogan’s office called for rapid regulation of the crypto market. . Globally, the surge in digital token prices has been accompanied by condemnations and regulatory action after various trading platform scams. The Turkish government should take action “as soon as possible,” Cemil Ertem said, Erdogan’s senior economic advisor. Bloomberg. “Pyramid schemes are being established. Turkey will undoubtedly apply regulations in line with its economy but also following global developments. Alternative InvestmentsThodex was part of the cryptocurrency boom that attracted legions of Turks seeking to protect their savings against soaring inflation and unstable currency. Inflation hit 16.2% in March, more than triple the central bank’s 5% target. The Turkish lira has weakened 10% against the dollar this year, its ninth consecutive year of losses. The government has spent $ 165 billion on foreign exchange reserves over the past two years, Erdogan revealed on Wednesday in the report. part of a futile effort to support the national currency. Concerns about the country’s dwindling foreign exchange reserves, which are negative when money borrowed by the government from private banks through swap agreements is taken into account, fueled concern over deposits in pounds and dollars. – and pushed savers towards alternative investment vehicles. , the volume of trading in the Turkish crypto markets tripled to over $ 1.2 billion a week earlier, according to data released by coingecko.com, which tracks data on price, volume and price. market value in the crypto markets. This compares to an average daily trading volume in the benchmark Turkish stock market index of around $ 3.1 billion. “You can set up a crypto exchange with only 50,000 lire (about $ 6,000) of capital,” said Oguz Evren Kilic, an attorney representing Thodex users. by telephone. “There is a huge regulatory gap in this area.” Ozer did not answer several calls on his cell phone. The company’s call center also did not answer calls. Bedirhan Oguz Basibuyuk, the lawyer for Thodex, told Bloomberg he did not know where Ozer was but was not in Turkey. Demiroren news agency reported that he fled to Albania on Tuesday, posting what he said was a photo of him at Istanbul airport Dogecoin Campaign Last month, Thodex launched a campaign to raise membership by offering millions of free Dogecoins to new registrants. Its website says 4 million coins have been distributed, although many have taken to social media to complain that they never received them. “I was born as one of three siblings to an official,” Ozer said in his statement, adding that he is a high school dropout. As the company struggled financially, he said he was considering committing suicide or surrendering to authorities, but those two options meant clients’ assets would never be recovered. my debts to you, ”he said. “The day I pay off all my debt, I will return to my country and deliver myself to justice.” (Updates with new lede, government agencies action, details throughout.) For more articles like this, please visit us on bloomberg.com now to stay ahead of the game thanks to the source most reliable business information. © 2021 Bloomberg LP



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Planning for the transfer of wealth in the COVID-19 environment https://feminaust.org/planning-for-the-transfer-of-wealth-in-the-covid-19-environment/ https://feminaust.org/planning-for-the-transfer-of-wealth-in-the-covid-19-environment/#respond Fri, 19 Mar 2021 08:43:47 +0000 https://feminaust.org/planning-for-the-transfer-of-wealth-in-the-covid-19-environment/ photo credit: charles taylor Although the widespread deployment of COVID-19 vaccines allows us to “see the light at the end of the tunnel”, we are still feeling the effects of the pandemic in several ways. Some of these effects have created particularly beneficial opportunities for planning wealth transfer; in particular, the opportunities arising from depreciating […]]]>

photo credit: charles taylor

Although the widespread deployment of COVID-19 vaccines allows us to “see the light at the end of the tunnel”, we are still feeling the effects of the pandemic in several ways. Some of these effects have created particularly beneficial opportunities for planning wealth transfer; in particular, the opportunities arising from depreciating asset values ​​and low interest rates, as well as the currently high federal exemptions for the taxation of gifts, estates and transfers of production.

The current federal transfer fee exemptions are $ 11,700,000 each per donor or per deceased person (indexed annually with inflation). These exemptions are exceptionally high by historical standards. Under current law, these exemptions are expected to decrease by about 50% by early 2026. However, President Biden, with support from Congress, may consider enacting legislation to reduce exemptions earlier and to further amounts. lower.

Under current IRS regulations, the applicable exemption amount at the time of a person’s death for federal estate tax is the greater of the exemption amount or the exemption amount used for tax purposes. federal donation tax for lifetime gifts. As such, and assuming these IRS regulations remain unchanged, a substantial donation by those who are wealthy could be considered in order to lock in the current high exemptions.

Married couples who are reluctant to separate completely from gifted assets, but would benefit from a reduction in their taxable estate, might consider using Spousal Life Access Trusts, or SLATs, as they are commonly referred to. For example, a spouse can create and fund a trust for the benefit of the other spouse (and potentially others, such as descendants). During the beneficiary spouse’s lifetime, the beneficiary spouse has access to the funds as the beneficiary of the trust. The donation to the trust is subject to donation tax; however, this would not result in the imposition of a gift tax to the extent of the exemption used. In addition, the trust would be drafted so as not to subject its assets to estate tax on the death of either spouse. This would lock in the benefit of the exemption used by the donation to the trust if it was greater than the exemption applicable at the time of the donor’s death.

In fact, each spouse could create and fund a trust for the benefit of the other spouse and thus double their use of the available exemptions. It is important to note that, if the beneficial rights of spouses in trust agreements are too similar, the IRS and the courts could apply the “reciprocal trust doctrine,” which treats the assets of each trust as eligible for inclusion. in the estate of the beneficiary spouse as if the beneficiary spouse were also the settlor of the trust.

To avoid trusts being viewed as reciprocal, trust agreements should be carefully drafted with significant differences. While there are no absolutely clear guidelines from the IRS or the courts regarding the various provisions that SLATs need to eliminate the risk of the doctrine of reciprocal trust, previous rulings and case law from the IRS can be enlightening.

For example, SLAT One may contain the following provisions:

  1. During the life of the beneficiary spouse, distributions can be sprayed to the spouse and descendants.
  2. The standard for distributions to beneficiaries is limited to health, education, maintenance and support.
  3. The beneficiary spouse is the trustee.
  4. The beneficiary spouse has an annual non-cumulative power to withdraw $ 5,000 or 5% of the value of the trust annually (a 5 and 5 power).
  5. The beneficiary spouse has a non-general life and / or testamentary power of appointment.

Conversely, SLAT Two may contain the following provisions:

  1. The beneficiary spouse is the sole beneficiary during his lifetime.
  2. Distributions may be made to the Beneficiary Spouse for any purpose at the discretion of an Independent Trustee.
  3. The beneficiary spouse is not the trustee.
  4. The beneficiary spouse does not have the authority to name the assets of the trust.

Using the SLAT strategy, spouses can transfer assets from their taxable estate and lock in current exemptions without completely losing access to those assets (provided the recipient spouse is alive and generous to the non-recipient spouse). Donations to trusts can be straightforward and simple, or can use rebates or other methods to leverage the value of the donation.

Another strategy, made particularly attractive by the current low interest rates, concerns intra-family loans. In order for an intra-family cash loans not to be treated as a gift (at least in part), interest must be charged in accordance with Applicable Federal Rates (AFR) announced by the IRS on a monthly basis. AFRs differ depending on the length of the loan. Short-term rates apply to loans that mature in three years or less, medium-term rates apply to loans made for three to nine years, and long-term rates apply to loans made for longer. nine years old. For March 2021, the short-term AFR is 0.11%, the medium-term AFR is 0.62%, and the long-term AFR is 1.62% (for annual payments). By comparison, before the pandemic, for February 2020, these AFRs were 1.59%, 1.75% and 2.15% respectively. For a low-interest loan to effectively transfer wealth, the funds loaned must be invested in a way that earns more than the applicable AFR; a seemingly low bar.

For example, consider a parent who lends a child (or child trust) $ 2,000,000 for nine years at a rate of 1.62%. Under the terms of the note, the child pays interest, compound, as well as the principal in the form of a lump sum payment due when due. The amount then due, including interest, will be $ 2,311,228. If, however, the $ 2,000,000 yields 7% compounded annually, at the end of the loan term, the child will have a fund of $ 3,676,918 from which to repay the principal and interest on the loan. ; leave the child with $ 1,365,690 (before income tax is considered). If there is a family business or rental real estate, perhaps the loan proceeds could be used to purchase an interest in it, the value of which could be temporarily depressed by the current economic downturn caused by the epidemic. of COVID-19; and, if the purchase is for a non-controlling interest (as might be expected), the value could be further reduced by valuation discounts.

If one has already entered into an intra-family loan agreement at a higher interest rate that can be prepaid at the borrower’s discretion, one might consider renegotiating the loan to take advantage of the current lower rates.

A third strategy to consider in today’s low interest rate environment is a private annuity. In a private annuity, one party, the seller / annuitant, transfers the assets to another party, the buyer / assignee, in exchange for the buyer’s promise to make periodic, fixed payments to the seller for the remainder of the term. seller’s life. The buyer can be a seller’s family member or a seller’s family trust. The annuity provides a flow of income to the seller and keeps the transferred assets available to the family. Since the obligation to make annuity payments ends on the seller’s death, the annuity is not an asset included in the seller’s taxable estate. The annuity amount is calculated using IRS tables which take into account the interest rate known as the IRS Section 7520 rate and the life expectancy of the annuitant (note that the seller cannot be in a “terminal state” as defined by the IRS at the time of transfer). The IRS Section 7520 rate is announced by the IRS on a monthly basis; and, for March 2021, the rate is 0.8%, which is close to an all-time low.

For example, a seller / annuitant, aged 65, creates a trust for the benefit of the spouse and children of the seller / annuitant. The seller / annuitant then sells assets worth $ 2,000,000 to the trust in exchange for an annuity. At the IRS Section 7520 rate of March 2021, the annuity generates cash for the seller of $ 123,185 per year for the life of the seller. The seller now has an income stream for the rest of the seller’s life and has transferred $ 2,000,000 to the seller’s family without reducing the seller’s inheritance and gift tax exemptions. As above, the asset sold can be an interest in a family business or rental real estate at depressed and / or discounted values.

If the purchaser / assignee is a trust that is treated as a “transferor trust” for income tax purposes, the sale is unlikely to be a taxable income event for the seller / annuitant. A ceding trust is a trust that has certain provisions that exclude the trust from being considered by its settlor for income tax purposes. If the buyer in the example above is a transferor trust, the sale to the trust should not result in a taxable gain (note that the buyer’s base in the transferred property would then be that of the seller, and there would be no basic adjustment for cost or value on the seller’s death). Like the intra-family loan, the trust must exceed annuity payments for there to be an efficient transfer of wealth.

The above are just three examples of wealth transfer planning that can be used and do not include many of the intricacies needed to properly plan and implement strategies. The examples are not intended to be exhaustive and are provided for illustrative purposes. For example, planning with Grantor Retained Annuity Trusts (FREE) is also enhanced by low interest rates; although the Libres do not tend to effectively provide multigenerational wealth transfer benefits (due to the way the generational transfer tax exemption is calculated for transfers to the remaining FREE recipients); and, as the effectiveness of the GRATs depends on the survival of the grantor during the life of the FREE, there is a risk of premature death compromising planning.

We cannot predict future events and legislation; however, current circumstances make consideration of this type of planning particularly timely.

Judson M. Stein is a partner of Genova Burns in Newark, where he chairs the Trust, Estates and Wealth Management Practice Group. Lauren P. Nakachi, is a collaborator of the firm Practice Group on Trusts, Estates and Wealth Management.

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Tennis: organizing Grand Slams in expensive bio-secure bubbles for the 2nd year and beyond “ a problem ”, Tennis News & Top Stories https://feminaust.org/tennis-organizing-grand-slams-in-expensive-bio-secure-bubbles-for-the-2nd-year-and-beyond-a-problem-tennis-news-top-stories/ https://feminaust.org/tennis-organizing-grand-slams-in-expensive-bio-secure-bubbles-for-the-2nd-year-and-beyond-a-problem-tennis-news-top-stories/#respond Fri, 19 Mar 2021 08:43:47 +0000 https://feminaust.org/tennis-organizing-grand-slams-in-expensive-bio-secure-bubbles-for-the-2nd-year-and-beyond-a-problem-tennis-news-top-stories/ MUMBAI (REUTERS, AFP) – Hosting Grand Slams in expensive bio-bubbles might not be viable for a second season despite the financial advantage these big tennis tournaments enjoy over other events, told Reuters ATP chief Andrea Gaudenzi. The four major tournaments in sport have not been immune to the impact of the Covid-19 pandemic, with Wimbledon […]]]>


MUMBAI (REUTERS, AFP) – Hosting Grand Slams in expensive bio-bubbles might not be viable for a second season despite the financial advantage these big tennis tournaments enjoy over other events, told Reuters ATP chief Andrea Gaudenzi.

The four major tournaments in sport have not been immune to the impact of the Covid-19 pandemic, with Wimbledon canceled for the first time since WWII last year and the most recent editions of the other three outfits in bio-secure environments.

“Most of them also run a federation, so they are also in charge of the development of tennis across the country,” said Gaudenzi, chairman of the men’s tour, recently.

“I think a year is sustainable, but two consecutive years for Grand Slams, or three, are definitely going to be a problem… they also need a little oxygen, absolutely.”

Despite no ticket sales and a controlled sanitary environment, the US Open was still able to pay nearly 95% of its prices in 2019, while the cut for the French Open delayed last year was capped at 11 percent.

This year’s opening Grand Slam in Melbourne offered the same cash prize as the year before, but organizers have warned that may not be the case in 2022.

“It is an extremely difficult situation for them too,” added Gaudenzi. “But obviously Grand Slam tournaments are bigger, and obviously when you’re bigger you have broader shoulders.

“And it’s a different economy. The four Grand Slam tournaments represent about 60 percent of the tennis industry’s total business volume.

“They’ve definitely taken a hit, but their economy is different. They’ve been able to deliver 100% cash prizes because they obviously have different profit margins than our tournaments.”

The organizers of the Australian Open carried 1,200 people on 17 flights from eight countries and organized 14 days of quarantine for all in January but it came at a cost. Tennis Australia has depleted its A $ 80million (S $ 83.2million) cash reserves and has taken out a loan to catch up with it until next year’s tournament.

Melbourne Park hosted four WTA events and three ATP tournaments in addition to the major starting in late January, while the Cincinnati Masters took place in a bio-secure bubble in Flushing Meadows ahead of last year’s US Open.

Gaudenzi said the centralized bubble formula, based on the model that ended the 2019-20 season of the National Basketball Association of North America, had been considered as an option for wider use in tennis. .

“Unfortunately for tennis, because we are global, different continents, different time zones, you move an event to another location, not only do you lose your tickets, but you also lose your sponsorship,” he said. added.

“The broadcast and the media are going to renegotiate because you move the event to a different time zone. So you basically have to start, almost from scratch. The ticketing, sponsorship and broadcast completely rebuilds the platform of the income perspective.

“So that would solve the travel problem … but you won’t solve the financial problem in our case. In fact (it) will be worse, so you lose more money doing this.”

‘Not enough incentive for the players’

ATP certainly has a challenge in keeping players engaged with Denis Shapovalov warning that this year’s tennis tournaments will continue to suffer from high withdrawal rates due to declining cash prizes due to the pandemic.

The 21-year-old Canadian, ranked 12th in the world, said most of the top older players “have no reason to go” to non-Grand Slam tournaments and many more would skip events if they were not contractually obligated. to compete through their sponsors.

Next week’s Masters 1000 event in Miami was hit by a string of high profile withdrawals, including Rafael Nadal and Dominic Thiem. The total prize money at the Miami Open this year has increased from US $ 16.7 million in 2019 to US $ 6.68 million. The event was one of the first canceled last season due to the pandemic.

A singles champion in Dubai this week will earn US $ 149,490 against US $ 565,705 that Novak Djokovic won for lifting the trophy last year.

“There are going to be a lot of withdrawals and a lot of people not going to tournaments because the prices are low,” said Shapovalov, who qualified for the semi-finals in Dubai on Thursday.

“In a way it’s not motivating to play every week and play all the big tournaments because there isn’t really much for us other than the Slams at this point paying so much. or better, like in Australia this year. “

He thinks ATP can find better ways to get bigger prize pots for players. Unlike other sports leagues, where players receive salaries and have certain guarantees, tennis players are independent contractors and only earn money when they compete, with their income depending directly on the amount of money. ‘they win.

“Hopefully ATP or someone can do something to improve the prize money and bring it back to where it was, but that’s what it is now,” Shapovalov said.



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Review of key performance indicators and the financial communication program https://feminaust.org/review-of-key-performance-indicators-and-the-financial-communication-program/ https://feminaust.org/review-of-key-performance-indicators-and-the-financial-communication-program/#respond Fri, 19 Mar 2021 08:43:47 +0000 https://feminaust.org/review-of-key-performance-indicators-and-the-financial-communication-program/ BIC: Key KPIs revised for 2021 and financial communication agenda CLICHY, FRANCE – March 18, 2021 – As mentioned in the press release of February 17, 2021, and from the first quarter of 2021, BIC will change its financial KPIs to align with the Horizon plan. The changes are detailed in the table below: Current […]]]>


BIC: Key KPIs revised for 2021
and financial communication agenda

CLICHY, FRANCE – March 18, 2021 – As mentioned in the press release of February 17, 2021, and from the first quarter of 2021, BIC will change its financial KPIs to align with the Horizon plan.

The changes are detailed in the table below:

Current key KPIs

New key KPIs (see glossary)

Net sales

Net sales

Change as reported

Change as reported

Change at constant exchange rates

Change at constant exchange rates

Change on a comparative basis

Change on a comparative basis

EBITDA

Operating income (IFO)

EBIT (earnings before interest and taxes)

Operating profit margin (IFO)

EBIT margin (profit before interest and taxes)

Normalized Operating Income (NIFO)

Adjusted EBIT (adjusted earnings before interest and taxes) or aEBIT

Normalized operating margin

Adjusted EBIT margin (aEBIT margin)

Net income group share

Net income group share

Earnings per share (EPS)

Earnings per share (EPS)

Normalized earnings per share (EPS)

Adjusted earnings per share (EPS)

Net cash from operating activities

Net cash from operating activities

Free movement of capital

Net cash position

Net cash position

BIC is also adjusting its financial agenda. Starting in the first quarter of 2021, the press release will be issued on the evening of the board meeting after market close and the management conference call will take place at 1:00 p.m. CET the following day.

AGENDA 2021

Event

Press release

Conference call

1st Results for the quarter 2021

April 27e – after market close
The period of calm will begin on April 13e

April 28e – 1:00 p.m. CET

AGM 2021

May 19e – 3:00 p.m. CET – The AGM will be held in camera

Live webcast

Results for the first half of 2021

July 28e – after market close
The period of calm will begin on the 16the July

July 29e – 1:00 p.m. CET

3rd Results for the quarter 2021

Press release: October 26e – after market close
The period of calm will begin on the 12the October

October 27e – 1:00 p.m. CET

GLOSSARY

  • Constant currency basis: Figures in constant currencies are calculated by converting the figures for the current year at the monthly average exchange rates of the previous year.

  • Organic change or comparative basis: at constant exchange rates and perimeter. Figures at constant scope exclude the impact of acquisitions and / or disposals made during the current year and / or during the previous year, up to their anniversary date. All comments on the Net Sales category are made on a comparative basis. The organic change excludes Argentina’s net sales for 2019 and 2020.

  • EBITDA: EBIT before depreciation

  • Adjusted EBIT: adjusted means to exclude normalized items.

  • Adjusted EBIT margin: adjusted EBIT as a percentage of net sales.

  • Net cash from operating activities: Cash generated by the principal activities of the entity and other activities which are not investing or financing activities.

  • Free movement of capital: Net cash flow from operating activities less capital expenditure (CAPEX). Free cash flow does not include acquisitions and proceeds from the sale of businesses.

  • Net cash position: Cash and cash equivalents + Other current financial assets – Current borrowings – Non-current borrowings (excluding financial liabilities following the implementation of IFRS 16)

Contact

Sophie Palliez-Capian
Vice President, Corporate Stakeholder Engagement
+33 1 45 19 55 28
+ 33 87 89 3351
Sophie.palliez@bicworld.com

Michele Ventura
Senior Manager, Investor Relations
+ 33 1 45 19 52 98
Michele.ventura@bicworld.com

Albane from La Tour d’Artaise
Senior Manager, Institutional Press Relations
+ 33 1 45 19 51 51
+ 33 7 85 88 19 48
Albane.DeLaTourDArtaise@bicworld.com

Isabelle de Segonzac
Image 7
+ 33 6 89 87 61 39
isegonzac@image7.fr

ABOUT BIC

World leader in stationery, lighters and razors, BIC brings simplicity and joy to everyday life. For more than 75 years, the company has honored the tradition of providing high-quality, affordable essentials to consumers around the world. Through this unwavering dedication, BIC has grown into one of the most recognized brands and is a registered trademark around the world. Today, BIC products are sold in over 160 countries around the world and feature iconic brands such as BIC Kids ™, BIC FlexTM, BodyMark by BICTM, Cello®, Djeep, Lucky Stationery, Rocketbook, Sun®, Tipp-Ex®, We. TM, Wite-Out® and more. In 2020, BIC’s turnover amounted to € 1,627.9 million. The Company is listed on “Euronext Paris”, is part of the SBF120 and CAC Mid 60 indices and is recognized for its commitment to sustainable development and education. He received an A- Leadership score from the CDP. To learn more, visit about.bic.com or follow us on LinkedIn, Instagram, Twitter, or Youtube.

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My salary dropped while I applied for a mortgage. Now what? https://feminaust.org/my-salary-dropped-while-i-applied-for-a-mortgage-now-what/ https://feminaust.org/my-salary-dropped-while-i-applied-for-a-mortgage-now-what/#respond Fri, 19 Mar 2021 08:43:47 +0000 https://feminaust.org/my-salary-dropped-while-i-applied-for-a-mortgage-now-what/ While this does not influence our opinions on the products, we may receive compensation from partners whose offers appear here. We are always on your side. See our full advertiser disclosure. Image source: Getty Images There are several criteria you will need to meet to get approved for a cash loans. You will need to […]]]>

While this does not influence our opinions on the products, we may receive compensation from partners whose offers appear here. We are always on your side. See our full advertiser disclosure.
An upset man sitting on a sofa with his hand on his head.

Image source: Getty Images

There are several criteria you will need to meet to get approved for a cash loans. You will need to have a decent credit score, debt to income ratio, a stable source of income and a salary high enough to cover the mortgage you want to take out. But what if your paycheck goes down just when you’re about to apply for a home loan? This can happen if your hours are reduced or if your employer implements pay cuts. Here’s what you need to know.

Are you still earning enough to cover your mortgage?

Whether or not a lower salary kills your chances of getting a mortgage depends on your income relative to the loan amount you want to take out. Suppose your salary of $ 80,000 drops to $ 70,000. If $ 70,000 is enough to qualify for the mortgage you’re applying for, that drop shouldn’t be a problem. Likewise, if you apply for a mortgage together with someone else, your combined income may be enough to cover your loan amount, even though your salary is now lower than it was a few weeks ago.

Ways to compensate for a lower salary

If a reduction in income makes you no longer eligible for the mortgage amount you hoped to borrow, you still have a few options. First of all, you can see if it is possible to make a down payment on your house. If you do, you won’t need to borrow that much money, so your lender may be comfortable moving forward.

Another option is to see if you can instantly increase your income with a second job. If you can prove to your lender that your side gig has the potential to be continuous and stable, that might be enough to seal the deal.

If these tactics don’t work, you may need to adjust your home buying budget and aim for a cheaper home – a home that a smaller mortgage is enough to cover. Or, you can delay your home search, save some money, and then apply for a mortgage again once you have a bigger down payment.

What if your pay cut is temporary?

A permanent pay cut could hurt your chances of getting a mortgage. But what if this reduction is temporary? What if your hours are reduced for now, but you plan to return to work full time in a few months? If so, a letter from your employer confirming that this may be sufficient to influence a mortgage lender to go ahead with a home loan. So it’s definitely worth a try.

You never know when your income might be hit out of nowhere, and unfortunately this scenario could hurt your chances of getting a mortgage. But that doesn’t mean that you are guaranteed to be denied a home loan because your income has been reduced. Before assuming the worst, talk to different lenders and see what options you have to qualify for a loan based on a lower salary. Between the flexibility of your lender and your own flexibility (for example, buying a cheaper house and borrowing less), you can find a solution that works.

A historic opportunity to potentially save thousands of dollars on your mortgage

There is a good chance that interest rates will not stay at their lowest level in decades. That’s why it’s critical to act today, whether you want to refinance and lower your mortgage payment or are ready to pull the trigger when buying a new home.

Ascent’s mortgage expert recommend this company to find a low rate – and in fact he used them himself for refi (twice!). Click here to find out more and check your price. While this does not influence our opinions on the products, we do receive compensation from partners whose offers appear here. We are always on your side. See the full advertiser disclosure of The Ascent here.

We strongly believe in the Golden Rule, which is why editorial opinions are ours only and have not been previously reviewed, endorsed or endorsed by the included advertisers. The Ascent does not cover all the offers on the market. Editorial content for The Ascent is separate from editorial content for The Motley Fool and is created by a different team of analysts. The Motley Fool recommends Bitcoin. The Motley Fool has a disclosure policy.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Women’s group speaks effectively on behalf of the busy farmer https://feminaust.org/womens-group-speaks-effectively-on-behalf-of-the-busy-farmer/ https://feminaust.org/womens-group-speaks-effectively-on-behalf-of-the-busy-farmer/#respond Fri, 19 Mar 2021 08:43:47 +0000 https://feminaust.org/womens-group-speaks-effectively-on-behalf-of-the-busy-farmer/ Members of California Women for Agriculture gathered at their annual convention in 2020, just before the COVID-19 pandemic struck. In 1975, a group of women concerned about the challenges of California agriculture came together to “speak out for the busy farmer” and educate consumers and lawmakers on agricultural issues. Today, the CWA has grown into […]]]>
Members of California Women for Agriculture gathered at their annual convention in 2020, just before the COVID-19 pandemic struck.

In 1975, a group of women concerned about the challenges of California agriculture came together to “speak out for the busy farmer” and educate consumers and lawmakers on agricultural issues. Today, the CWA has grown into one of the largest all-volunteer advocacy groups in the country, made up of a diverse group of bankers, lawyers, accountants, marketers and consumers – as well as farmers and ranchers.

Rose Tryon, a fifth-generation breeder entering her second year as President of the CWA, said it was vitally important that the agriculture industry continue to make education and advocacy efforts, and last year added a digital campaign to its usual lobbying efforts.

“Last year we launched a digital campaign called Faces of Ag, where our communications team highlighted members who work in different facets of the industry,” she said. “We wanted to emphasize (to lawmakers) how important agriculture is to the state’s economy, how many jobs are involved and how many women and minorities are involved in agriculture and to link on the how their decisions affect women and minority populations. general. Our members are as diverse as the crops we grow.

Because of the importance of educating policy makers on the many issues affecting agriculture and ranching in California, the farm credit associations serving California have sponsored CWA for over 20 years. Farm credit institutions support US institutions AgCredit, CoBank, Colusa-Glenn Farm Credit, Farm Credit West, and Fresno Madera Farm Credit – all of which are part of the National Farm Credit System, the largest provider of credit to US agriculture .

“About half of the $ 1 million that Farm Credit makes to nonprofits each year is used to preserve agriculture and raise awareness of the importance of agriculture in California,” said Timothy Elrod, president and chief executive officer. the management of Colusa-Glenn Farm Credit. “CWA’s 1,300 members do a great job educating decision-makers and advocating for policies that keep our state’s agriculture industry competitive and viable. We believe that our contribution of $ 10,000 per year to support this great organization is an investment in the future of agriculture.

Tryon said Credit Agricole’s support over the years has been essential in helping the organization grow.

“We cannot continue to advocate without our sponsors, and we are very grateful for the support of Farm Credit. They have been an absolutely wonderful sponsor, and we couldn’t continue without them, ”she said.

The organization is made up of 21 local chapters that focus on promoting agriculture at the local level and providing scholarships to students majoring in agriculture-related majors. Tryon said his local in the Chico area, for example, is raising funds to lend to students who cannot afford to purchase an animal for FFA or 4H competitions. A student then raises the animal, shows it and repays the loan when she sells it after the competition.

This kind of commitment to the future of farming is another reason Farm Credit continues to sponsor CWA, noted Keith Hesterberg, President and CEO of Fresno Madera Farm Credit.

“In our region, CWA partners with Ag One to host the Ag Boosters BBQ each year, which raises funds to support students and agricultural programs in Fresno State,” Hesterberg said. “Crédit Agricole is proud to directly sponsor this program, which helps ensure that we have well-trained agricultural leaders in the future.”

About agricultural credit

American AgCredit, CoBank, Colusa-Glenn Farm Credit, Farm Credit West, and Fresno Madera Farm Credit are cooperative-owned lending institutions that provide agriculture and rural communities with a reliable source of credit. For more than 100 years, the agricultural credit system has specialized in financing farmers, ranchers, farmer-owned cooperatives, rural utilities and agribusinesses. Crédit Agricole offers a wide range of loan products and financial services, including long-term home loans, operating lines of credit, equipment and facility loans, cash management services and appraisal and rental… everything a “growing” business needs. For more information visit www.farmcreditalliance.com.

About California Women for Agriculture

The mission of the CWA is to promote and develop the interest of Californian women involved or interested in agriculture and to promote a strong agriculture industry in California. CWA’s efforts are guided by five main goals: speaking on behalf of agriculture in a smart, informative, direct and honest manner; keep CWA members informed of legislative activities relating to agriculture; to join forces when the need arises to deal with agricultural problems and challenges; improve the public image of farmers and develop relationships with consumers, educators, and government and business leaders in communities across the state.

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Ride the Uranium Bull with a stake in the Denison Mines https://feminaust.org/ride-the-uranium-bull-with-a-stake-in-the-denison-mines/ https://feminaust.org/ride-the-uranium-bull-with-a-stake-in-the-denison-mines/#respond Fri, 19 Mar 2021 08:43:47 +0000 https://feminaust.org/ride-the-uranium-bull-with-a-stake-in-the-denison-mines/ InvestorPlace – Stock News, Stock Tips & Trading Tips If you’re looking for a pure uranium deposit that won’t cost you an arm and a leg, check out the Canadian Exploration and Development Company. Denison Mines (NYSEAMERICAN:DNN). It looks like DNN stock has been in breakout mode for the past few months and could be […]]]>

InvestorPlace – Stock News, Stock Tips & Trading Tips

If you’re looking for a pure uranium deposit that won’t cost you an arm and a leg, check out the Canadian Exploration and Development Company. Denison Mines (NYSEAMERICAN:DNN). It looks like DNN stock has been in breakout mode for the past few months and could be headed higher.

periodic table concept with black cubes.  The element of uranium shines

Source: Shutterstock

Denison focuses on what is known as the Athabasca Basin, an area in northern Saskatchewan and Alberta. He gives “about 20% of the world’s uranium. ”

The company is actively advancing its operations in this region. In addition, investors in the uranium sector should appreciate Denison’s extensive portfolio of projects, which covers some 280,000 hectares.

What Makes Denison Mines Relatively Low Risk in Uranium Mining? Investors have a right to know, so we will definitely explore this topic. However, first of all, we should look at recent developments in stock prices.

DNN Stock at a glance

If you want to see a manual example of what a breakout looks like, just take a look at the DNN action.

For five long years, the stock just couldn’t seem to stay above the crucial $ 1 level. There have been many attempts along the way, but no real success.

However, starting in late 2020, a big moment happened for Denison. As the old saying goes, be right and stand firm. This sit-tight strategy finally paid off when DNN started climbing in December.

During that month, the share price has fallen from 38 cents to 65 cents. Was it just another false head that was doomed to fail? Not at all – the momentum quickly continued into 2021.

On February 17, DNN stock hit a 52-week high at $ 1.81. It was a race and inevitably some profit taking caused the share price to fall. Today it is trading at $ 1.17.

Is another stock price surge possible in the near future? Only time will tell, but you might want to position yourself ahead of time if you like the business and the uranium market in general.

Low risk thanks to low costs

One criterion to look for in any raw material miner is low cost. This is a key element in reducing investment risks.

90% owned by Denison flagship uranium development project is known as the Wheeler River. The Phoenix deposit on this property is, according to the company, “estimated to have potentially the lowest costs of any undeveloped uranium deposit.”

It’s a big claim to make, but Denison has the numbers to back it up. Specifically, Phoenix offers all-inclusive costs of $ 8.90 per pound of U3O8. (This compound is also known as uranium concentrate powder called yellowcake.) Additionally, Phoenix has operating costs of $ 3.33 per pound of U3O8 for Denison Mines.

No matter how you look at it, it’s extremely inexpensive. At the time of this writing, the uranium spot price is between $ 27 and $ 28 per pound.

In addition to this, another deposit at the Wheeler River site is called Gryphon. There, Denison’s all-inclusive costs are $ 22.82 per pound of U3O8. The running costs are $ 11.70 per pound. Not a world record, but still relatively inexpensive, too.

Focus on finances

We have therefore established that Denison Mines can extract uranium from the ground relatively inexpensively. However, this is not the only way for the company to reduce its risks.

For example, the President and CEO of Denison Mines, David Cates, pointed out recent improvements in the company’s overall budget table:

“[Denison Mines has] has completed a crucial fundraiser over the past 12 months that has positioned the company with approximately $ 85 million in cash and investments, while remaining debt free. ”

Of course, not all commodity miners can claim to be free from debt. At the same time, Cates pointed to the “gradual improvement” of the larger uranium market. In the area of ​​defense, Cates highlighted “the growing calls for a re-emergence of nuclear energy as an advanced technology” which will be “important for a sustainable global energy transition”.

Obviously, this is a veiled reference to President Joe Biden and the new administration’s pressure for cleaner energy sources. With this, uranium could be recognized as a viable alternative to fossil fuels in the coming years.

If that happens, then that would certainly be optimistic for Denison Mines and DNN.

Takeaway meals

There will always be some level of risk when investing in commodity miners.

Still, investors can mitigate these risks by checking out the low operating costs. In this regard, Denison Mines obtains very high marks.

Overall, DNN stock presents a solid entry point for investment in the uranium industry. Stocks are cheap, but soon enough they could escalate to the upside.

As of the publication date, neither Louis Navellier nor the InvestorPlace research staff member primarily responsible for this article has held (directly or indirectly) a position in the securities mentioned in this article.

Louis Navellier had an unconventional start, as a graduate student who accidentally built a market-beating stock system – with returns competing even with Warren Buffett. In his latest feat, Louis discovered the “master key” to take advantage of the biggest technological revolution of this generation (or any other).

The post office Ride the Uranium Bull with a stake in the Denison Mines appeared first on InvestorPlace.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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Things that don’t make sense for the money https://feminaust.org/things-that-dont-make-sense-for-the-money/ https://feminaust.org/things-that-dont-make-sense-for-the-money/#respond Fri, 19 Mar 2021 08:43:47 +0000 https://feminaust.org/things-that-dont-make-sense-for-the-money/ Gender and city is glorious, glamorous, luxurious and, like most of Darren Starr’s designs, ambitious. This iconic series is about the most glamorous version of New York City, where everyone wears designer labels for designer events and dates politicians, financiers and millionaires. It’s supposed to be a little unrealistic, of course, because it’s pure escape. […]]]>

Gender and city is glorious, glamorous, luxurious and, like most of Darren Starr’s designs, ambitious. This iconic series is about the most glamorous version of New York City, where everyone wears designer labels for designer events and dates politicians, financiers and millionaires. It’s supposed to be a little unrealistic, of course, because it’s pure escape. Gender and city deals with some realistic and relatable topics, of course, but these are difficult topics in designer brands.

RELATED: 10 Best Shows & Movies With A Narrator, Ranked According To IMDb

From jaw-dropping apartments, labels, swanky nightlife, and opulent lifestyles to the seemingly part-time careers that support them, there are plenty of ways the money just doesn’t add up in this show. Fans love it anyway, sure, but these are some of the most ridiculous financial moments.

ten Carrie’s earnings

Carrie Bradshaw at the computer in SATC

Of the four main characters, at least two have careers that would actually be very rewarding (or could be): Miranda is a lawyer and Samantha is in public relations. Since Charlotte is in fine art, it is likely that she would also have heavy commissions. But Carrie seems to earn as much as the others (at least she never really has money problems), despite writing a grand total of one column per week, for a newspaper. Unless the New York Star pays four figures per column, it makes absolutely no sense that she would earn as much as she seems.

9 Endless expensive drinks and dinners

sex and city girls at brunch

At one point, Carrie jokingly exclaims that she ‘keeps sweaters in my stove’ to explain that she doesn’t cook, that she just eats out – and that fits the scenes. from the Serie. She and the girls constantly eat out – unbelievably expensive brunches, lunches, and dinners. They’re always seen in the best, newest, and coolest places in town, and can only get in thanks to Samantha’s connections (and once, a lucky stamp). These meals and all the champagne and cosmos that go with them would cost hundreds of dollars a head, but the ladies never seem to mind the tab.

8 The emblematic Manolos

a woman in white, her legs and shoes with red soles / gold shoes

Ah, the labels. Fashion is a big part of the show, but like all those fancy cocktails, dinners, and vacations (and the ring Samantha bought in the first movie, which costs more than many people would earn in a year), it doesn’t There’s just no way these women should be able to afford it. Maybe Samantha works with a huge range of fashion houses and gets some amazing freebies, but how can a the columnist offers dozens of pairs of shoes who are hundreds of pop? Some of these outfits cost thousands of dollars, yet they are only worn once and never seen again. Even if they could afford all of these designer clothes, they would probably wear them more than once!

7 The “ loan ” for the apartment

In the fourth season, Carrie goes from renting to buying, when his apartment is put up for sale. However, she only has a few thousand savings (and given the gap between supposed income and expenses, it’s amazing that she isn’t struggling with huge debts), so she reaches out. to friends for cash loans.

RELATED: Sex and the City: 10 things that went wrong for Carrie once she started dating

In a controversial episode, she intimidates Charlotte by lending her tens of thousands, despite the fact that other people offered to give him money first – but more than that, the loan is never mentioned again. Considering Carrie couldn’t save anything until this point and continues to spend money like water, how the hell did she pay it all back?

6 How could Steve afford to buy a bar?

Steve Brady is probably the most realistic character, financially speaking, for most of the show – when Miranda meets him, he’s barging and he’s got the wardrobe to suit him. He can’t afford a cute costume for one of Miranda’s work events and lives in a tiny apartment (like many New Yorkers). However, later in the series, he suddenly managed to save enough to afford to buy a bar, buy a Brooklyn townhouse, and renovate it. Was he earning a lot of tips and just piling it up? Where does this massive influx of cash come from?

5 A New York without credit (no proof of income)

Kristin Davis as Charlotte + Sarah Jessica Parker as Carrie + Cynthia Nixon as Miranda + Kim Cattrall as Samantha in Sex and the City Movie Entry 2

One of the most confusing things about this version of New York City is that there never seems to be any loan or credit issues – at least, it never gets mentioned. Carrie might be able to ‘borrow’ enough from her friends to put a deposit on her condo, but how did she even manage to get a mortgage, given that she has no savings, no money? financial security and no regular income (as a freelance writer)? Before buying the apartment, how did she manage to rock the rental, given that a norm in Manhattan is for tenants to prove that they have many times the rent in income (and again, Carrie is a freelance writer)? Likewise, even though Steve had squirrel thousands of people, how was he approved for a loan for the bar and a mortgage on a bartender’s salary, relying on tips? It seems that here the loan conditions are very different.

4 Mr. Big buys a penthouse like a cafe (but sells it)

Chris Noth as Mr Big + Sarah Jessica Parker as Carrie in Sex and the City Entry 5

Big is, admittedly, supposed to be a multimillionaire “ financier ” (and his job isn’t really explained beyond that), but even for him, the penthouse buying scene in the Gender and city the film is shocking. He and Carrie look at an apartment in the apartment building (probably in their price range) which is absolutely tiny … and yet, when shown to them the absolutely stunning penthouse, he casually says “ I got it ” while he offers to buy it.

RELATED: Why Samantha Is Actually The Main Character In The Sex And The City Series

Even for himself, he would probably at least want to ask for the price? And if his pockets are indeed so incredibly deep that he could blow $ 40-50 million without blinking (according to cost estimate), why did he need to sell it as soon as they broke up? He didn’t need her contribution and could have paid it back while still keeping the apartment, which would likely be an incredible investment that would only increase in value.

3 They all own a house

Samantha, Carrie and Petrovsky's apartments in Sex and the City

Speaking of homeownership, it seems like everyone owns their own home. In the series, the women (in their thirties, for the most part) all manage to own a property in the most beautiful areas of Manhattan. Miranda, at one point (when separated from Steve in the movie) rents an apartment in Manhattan and share-lives alone in a house in Brooklyn. Aidan, a man who sells custom furniture, partly owns a bar with Steve, his own house, almost helps Carrie buy her place, and appears to own a cabin in the country. Real estate in this version of the city is cheap and plentiful, it seems.

2 How can Carrie afford an assistant?

In the movie, Carrie manages to pull off some of her most impressive ‘how can she afford that? To this day, as she pays for an all-expense paid vacation to Mexico for her honeymoon at a luxury resort, buys back her apartment (at an inflated cost), completely redecorates that apartment (with a fantasy ” to help you), and hire a full-time assistant. Why a woman who occasionally writes a column or article for Vogue needs a full-time assistant is a mystery, as is how she is paid. How could Carrie afford a total apartment makeover and an assistant (in addition to her usual lavish lifestyle) in advance of a book?

1 Carrie is distraught – but nothing ever goes wrong

Carrie lazily looking at her computer with her arm draped over her head

Other than not being able to immediately get a down payment for an apartment, Carrie never seems to talk about money, taxes, savings, retirement, or any other financial matter … and although it seems totally ignorant in many practical ways, that is never a problem. Carrie looks terrible with money, besides being terrible with technology, and freely admits to having virtually no savings, but fans are supposed to believe that this corresponds to a freelance writer who should buy his own health insurance and save for theirs. retirement and taxes on a regular basis. At some point, she surely would have blown her rent on a designer bag, or worrying about how to live into retirement age, but that just isn’t happening. Maybe that’s why she decided to marry Big – it has nothing to do with being the ‘one’, and everything to do with being a multimillionaire!

FOLLOWING: The 10 most impractical outfit choices of characters in Sex and the City, ranked

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What You Can Do With a $ 1,400 Incentive Check https://feminaust.org/what-you-can-do-with-a-1400-incentive-check/ https://feminaust.org/what-you-can-do-with-a-1400-incentive-check/#respond Fri, 19 Mar 2021 08:43:47 +0000 https://feminaust.org/what-you-can-do-with-a-1400-incentive-check/ Federal stimulus checks are now arriving in bank accounts everywhere, if you have direct deposit set up with the IRS. Others will receive paper checks in the mail for each adult, child and dependent adult. But how far will that money go – and what can you do with it? $ 1,400 per person – […]]]>

Federal stimulus checks are now arriving in bank accounts everywhere, if you have direct deposit set up with the IRS. Others will receive paper checks in the mail for each adult, child and dependent adult.

But how far will that money go – and what can you do with it?

$ 1,400 per person – that’s what most of us can expect from the latest federal stimulus.

Larry Flynn with Centennial Wealth Council says, “For those who really needed it, maybe lost their jobs or whatever, they really have to look at where their priorities are. If their savings account has been reduced, put it back in savings, keep it. That’s what the savings are for. ” Cadillac Monthly Doxo

Some people have struggled to make ends meet for most of the past year, and $ 1,400 may not go very far. Doxo Insights data shows that the average monthly bills, not including rent or mortgage, are around $ 1,312 for the average household in Cadillac. In Traverse City, the average is $ 971. This includes things like your utilities, phone bills, car payments, and insurance.

Doxo Traverse City monthly“A lot of people are behind on these things. These bills continue to rise. Candice Hamel is the Executive Director of the Father Fred Foundation, where they help people in financial difficulty. “We definitely encourage people to put money on these payment arrears so that in the future they won’t be in another emergency.”

If you have credit cards or cash loans, consider making more than the minimum payment. Ray Jager is a branch manager at 4Front Credit Union. He says, “People have a lot of credit card debt that they could pay off. They could make more than the minimum payment. Spending a good chunk of money on your loan will certainly save you interest in the long run. So this will help you to pay off this loan faster.

Jager says he’s also heard from people willing to spend their stimulus dollars. “I’ve also spoken to people who may be looking to renovate their homes. I think we came to appreciate our homes last year. He adds, “I also find that a lot of people want to buy toys, maybe a new car, motorcycles, recreational vehicles. So they use this money for a down payment. “Counting cash

Each financial advisor can give you different advice on what to do with that stimulus money. You can still spend, save, invest, or donate. No matter what you choose, you need to do what’s best for you with your financial situation. Jager says, “It will be a really good opportunity for people to assess their financial well-being and their health.”

At $ 1,400 each, if you have a family of three or four or more, it can add up quickly. “Having emergency savings, the general rule of thumb is 3 to 6 months of spending. It’s going to be a good opportunity. Here has 4 Before we offer a simple and cool rewards account that pays a great rate. We also have a unique program that encourages you to save. ”

Larry Flynn agrees with the savings strategy. He says you never know what can happen with a job loss or things like emergency car repairs. “Set aside enough money for a worst-case scenario or an emergency. If you have enough money set aside in savings and have some room to spend, then definitely spend. It helps our economy. ”

Doxo CadillacAnd if you don’t really need the incentives to make ends meet – besides saving, spending, or investing – you can always give. Flynn says, “I’ve talked to so many people who get the checks and really don’t need them. Many of these people will put it in their savings and it will be spent according to their own priorities. If I’m someone who has the money and I don’t need it, and I get a chance to donate some of it, then absolutely.Cash

Hamel said to Father Fred: “These cash donations always help us. We just want to be able to meet everyone’s needs. ” The Father Fred Foundation said even with the stimulus, people shouldn’t be afraid to ask for help. “What I encourage people is to always come to the Father Fred Foundation for help. We want to make sure families use these dollars as much as possible. Use it for those basic needs, also come to us for the pantry. She says the pantry offers more than the typical non-perishable items most people think of: things like fresh fruit, meat, and dairy. But Father Fred can also meet financial needs like than rent, utilities, medical bills and other emergencies. ”

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