Diner Business – Dining In BC http://dininginbc.com/ Mon, 16 May 2022 14:50:49 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://dininginbc.com/wp-content/uploads/2021/06/icon-1-150x150.png Diner Business – Dining In BC http://dininginbc.com/ 32 32 How to choose an emergency loan – Get an Instant Loan https://dininginbc.com/how-to-choose-an-emergency-loan-get-an-instant-loan/ Mon, 16 May 2022 14:50:42 +0000 https://dininginbc.com/?p=6385 Instead of choosing the first loan that you see take your time comparing different lenders to find the right option for your needs. Here are some crucial factors to think about when choosing the best emergency personal loan: Rates of interest:Look for a loan with the lowest rate, to pay the lowest sum of interest. Spending the […]]]>

Instead of choosing the first loan that you see take your time comparing different lenders to find the right option for your needs. Here are some crucial factors to think about when choosing the best emergency personal loan:

  • Rates of interest:Look for a loan with the lowest rate, to pay the lowest sum of interest. Spending the time to search for an interest rate that is low could help you save a substantial amount on interest for the duration of the loan.
  • APRs The APR of your loan is the rate at which you pay interest, along with any charges. Because it’s an inclusive measurement of the cost of borrowing You can use it to evaluate different loan options using an apples-to apples basis.
  • Time to Funding: Chances are you require a loan quickly and you should find out the time it takes your lender deposit funds in your checking account. Some lenders can issue the loan on the very same day that you submit your application however, some will require weeks or days to process your request.
  • Repayment conditions:The amount of time you must repay the loans will be a significant effect on your monthly installment. A longer time frame will mean smaller monthly payments, whereas short terms will result in more expensive monthly bills. Take into consideration how fast you’d like to repay your loan, the monthly payments you are able to make and the terms the lender will offer. If you’re taking out a smaller credit, some banks might only allow you just a few months to repay it.
  • Fees and penalties: Take a look at any charges that are associated to the loan, like an early payment or disbursement fee. Some lenders will subtract the fee for disbursement from the loan amount, so you may need to ask for more than you really need to include this cost into consideration.
  • The requirements for qualifying: Finally, consider the criteria you must satisfy to be eligible to obtain the loan. Although the majority of lenders don’t offer an exact credit scores, there is a few that provide a score that indicates how strong your credit is required to be in order for you to be eligible. Most of the time the case, your credit can have a significant impact on the likelihood of qualifying and also the rate you receive.

Each lender has their own rates and conditions and conditions, therefore it’s worthwhile comparing different offers to choose the one that is best for you.

Alternatives to cash-flow emergencies

Before you take on debt, you should consider the various alternatives. Here are some options to think about before making an application for an emergency loan:

  • Ask friends or familymembers:If you’re in need of money you might consider asking your friends and family for assistance. Be sure everyone knows what the expectations are about borrowing and the repayment of the cash.
  • You can open the credit card that offers an interest-free promotional period:Some credit cards offer no-interest terms for a year or more to newly registered customers. If you’re able to pay your balance prior to when this promotional time runs out, you’ll being able to take out a zero-interest loan. If you’re unable to complete the repayment and you’re not able to, you’ll need to pay interest fees. Take note the fact that credit cards are typically restricted to borrowers with strong credit.
  • Get a home equity loan , or the home equity line credit (HELOC):Are you homeowner? It is possible to borrow against the equity by taking out either a line or loan of credit. These loans usually offer low rates of interest however, you’re making use of your house as collateral.
  • Request your employer to give you an advance in your pay. The company may be capable of paying you earlier than scheduled to ease the burden of the tough times.
  • Request information about the hardship programs. If you’re having trouble paying back loans, your lender may grant you temporary forgiveness. Through this suspension of payments, you could make enough cash available to cover the expenses of an emergency.
  • Plans for repayments to medical professionals:If you’re dealing with medical bills, your hospital may be able to establish a repayment plan that is gradual. Through a repayment program that you pay off your expenses in stages instead of in one lump sum.

Tips for creating an emergency fund for emergencies

After you’ve dealt with the emergency expenses It’s important to plan ahead to your next unexpected cost. Create a plan to create an emergency fund to be ready for unexpected costs that may arise in the near future.

Here are some suggestions to help:

  • Set a goal for savings. It doesn’t matter if it’s $500 or $5K set a goal, it will provide you with something to strive towards. If you have a timeframe and you determine exactly how much you’ll need to put aside every month to meet your target.
  • Make a budget that is realistic. Make a note of the amount you’ll will need every month to cover your mortgage, rent or car payment, as well as other expenses that are recurring. There may be areas where you’re over your budget, and cut costs to achieve your savings goals.
  • Make sure you keep track of your expenses. Once you’ve put your budget set keep track of your expenses to ensure that you’re on the right track. A budget tracking app can do all the hard work.
  • Create automatic transfers to an account for savings. You might consider opening a separate savings account, and then automatically transferring the appropriate amount every pay check. It’s a way to set it and forget it, your savings will increase without effort on your part.
  • You can put any money you get straight into saving account. If you get cash for a birthday present or a bonus from work, or any other unexpected cash flow, think about placing it into your emergency fund in order to increase the amount you have saved.

In time, you’ll see your emergency funds expand. If you’re hit by unanticipated expenses in the near future You may have enough cash available to cover it and not have to resort to borrowing money.

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Tip recap: Nothing goes beyond money: Newly approved pilot program will provide $1,000 per month to 85 households – News https://dininginbc.com/tip-recap-nothing-goes-beyond-money-newly-approved-pilot-program-will-provide-1000-per-month-to-85-households-news/ Thu, 12 May 2022 10:26:26 +0000 https://dininginbc.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.

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Texas has given debt collectors an edge in court. Here’s how they can protect consumers instead. https://dininginbc.com/texas-has-given-debt-collectors-an-edge-in-court-heres-how-they-can-protect-consumers-instead/ Wed, 11 May 2022 09:02:27 +0000 https://dininginbc.com/texas-has-given-debt-collectors-an-edge-in-court-heres-how-they-can-protect-consumers-instead/ Bank officials didn’t believe Deakon Keener when he quickly reported the bizarre charge on his credit card. They also didn’t believe Mary Keener after she proved the companies taking the charges were fraudulent. Instead, Bank of America, like so many great institutions, has gone into full Kafka mode. The Keeners wandered through a customer service […]]]>

Bank officials didn’t believe Deakon Keener when he quickly reported the bizarre charge on his credit card. They also didn’t believe Mary Keener after she proved the companies taking the charges were fraudulent.

Instead, Bank of America, like so many great institutions, has gone into full Kafka mode. The Keeners wandered through a customer service telephone maze where every attempt to resolve the matter resulted in a dead end and a rep swore they couldn’t be of help.

Bank of America debt collectors, however, acted with ruthless efficiency. They flagged the Keener’s credit reports and dispatched a processing server to deliver a lunchtime trial. The nightmare lasted for more than a year until Chronicle reporter Yamil Berard contacted a bank spokesperson.

“The bank has credited Mr. Keener’s accounts and corrected the statements from the credit bureaus,” spokesman Bill Halldin wrote in an email days after Berard requested an interview.

I’ve seen this happen dozens of times in my 29 year career. Banks, insurers, hospitals, schools and governments only wake up when a reporter calls. The threat of public ridicule drives faceless bureaucracies, but only one case at a time.

Americans should not rely on journalists to resolve these disputes. There aren’t enough of us.

Debt resolution shouldn’t be this way, and it doesn’t have to be.

After the abolition of debtors’ prisons, civil justice took over disputes over who owes whom how much money. Courts, or the threat of litigation, are meant to encourage both parties to reach a mutually beneficial settlement before lives and finances are ruined by litigation.

But Berard’s “Loads of Debt” series proves how Texas lawmakers have skewed the court system in favor of big institutions. Banks, payday lenders, insurers and hospitals no longer need to spend money on customer service representatives or empower them to resolve issues.

New laws make it easier and cheaper for businesses to obtain judgments in an overburdened legal system. The Legislature’s greatest gift to American businesses has been to grant debt collectors expanded authority to sue in justice of the peace courts.

Most justices of the peace do not have a law degree and only take a two-week course. When a low-income person without a lawyer faces off against an experienced debt collection attorney in front of an untrained justice of the peace, guess who wins? JP’s debt collection business is up 150%.

Overall, debt collection lawsuits in Texas have increased 73% from 2012 to 2021, according to Berard’s analysis. Nearly half of all civil lawsuits filed in Texas last year – more than 374,000 – sought to collect unpaid debts, cluttering cases where judges pervert justice.

Many of these disputes, like Keener’s, are unresolved. Identity theft remains a major problem, and some credit card issuers are taking shortcuts rather than investigating. Many medical debts stem from legally questionable overcharging, and payday loan companies are rampant in Texas, offering predatory loans that are illegal in most states.

Even Texas Supreme Court Chief Justice Nathan Hecht agrees the system needs to be fixed. But perhaps the better question is how to discourage debt collectors from going to court in the first place.

Only Louisiana has a higher percentage of the population in debt default, which begs the question: why are 41% of Texans behind?

Half of them owe money on medical bills. Texas has the highest percentage of uninsured people, and 48% of Texans say they find it difficult to afford health care, according to a new survey from the Episcopal Health Foundation. If Texas expanded Medicaid to cover the working poor, the bills would be much lower and nearly half of this problem would disappear.

The legislature could also lift the hurdle to sue. The nonpartisan Aspen Institute has some ideas:

Require debt collectors to document the debt, prove their claim, and establish that the debt is legally collectible when they sue, not later in the litigation.

Require that courts inform defendants of their rights and provide them with the tools to defend themselves.

Require judges and magistrates to follow an established procedure before granting a default or summary judgment.

Limit interest rates on unpaid debts.

Debt collectors go to court because they see it as a financial advantage. By protecting consumer rights, Texas can incentivize institutions to reach a fair customer service line agreement, which would allow the court to consider more serious cases.

Tomlinson writes commentary on business, economics, and politics.

twitter.com/cltomlinson

chris.tomlinson@chron.com

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Tip recap: Nothing goes beyond the money: City to launch guaranteed income pilot program – News https://dininginbc.com/tip-recap-nothing-goes-beyond-the-money-city-to-launch-guaranteed-income-pilot-program-news/ Fri, 06 May 2022 17:00:38 +0000 https://dininginbc.com/tip-recap-nothing-goes-beyond-the-money-city-to-launch-guaranteed-income-pilot-program-news/ City Council approved a pilot program at its Thursday, 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 […]]]>

City Council approved a pilot program at its Thursday, 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 the city has partnered with to 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 in 2020 (when the group was known as Family Independence Initiative), and also 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 these quick-breaking “financial shocks” are “the main drivers of displacement” because they come on top of other financial pressures – such as overdue bills that rack up late fees or payday loans that generate interest – which can lead to eviction. Unrestricted income support, Oaks wrote, should not be seen as a “gift” of public funds, but as an “essential investment in families and individuals” that can improve their health and fortunes to the point where they need less public sector support for the long term.

Mayor Steve Adler alluded to these ideas in his comments before the Board approved the program. “I just think [it’s] so misleading and so false” for people to call government aid programs “gifts,” the mayor said. “The concept being tested is: what if you actually trusted people to get a dollar and 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 coming years after the pilot, to the city’s broader effort 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 scale of need in the city and the limited financial resources the city can deploy to meet that need, she felt that guaranteed income was not not the right type of program for the city. undertake. “When I look at all the levers I have to help families meet basic needs,” Alter said. “I have not 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.

The CMs are also concerned that Texas law authorizes a guaranteed income program that is not intended to address the 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 – that empowering people with unlimited financial assistance can be both effective and more worthy of reducing 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.

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Being in debt for years can harm your heart health https://dininginbc.com/being-in-debt-for-years-can-harm-your-heart-health/ Wed, 04 May 2022 17:26:18 +0000 https://dininginbc.com/being-in-debt-for-years-can-harm-your-heart-health/ Share on PinterestStudents on the campus of George Washington University in Washington, DC, U.S., Thursday, Sept. 9, 2021. Stefani Reynolds/Bloomberg/Getty Images Long-term student debt is linked to a higher risk of cardiovascular disease and higher levels of chronic inflammation. In 2020, average student debt in the United States upon graduation from university or college ranged […]]]>

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Students on the campus of George Washington University in Washington, DC, U.S., Thursday, Sept. 9, 2021. Stefani Reynolds/Bloomberg/Getty Images
  • Long-term student debt is linked to a higher risk of cardiovascular disease and higher levels of chronic inflammation.
  • In 2020, average student debt in the United States upon graduation from university or college ranged from $18,350 in Utah to nearly $40,000 in New Hampshire.
  • Over-indebted people in their 40s were 90% more likely to have a psychiatric disorder and 31% more likely to have high blood pressure.

Student debt, like other financial stressors, can impact a person’s mental health and well-being and reduce life satisfaction.

But consistently having unpaid student debt — or taking on new student debt — between young adulthood and midlife also increases the risk of cardiovascular disease, a new study has found.

In contrast, the researchers found that adults who could repay their college debt had similar or better heart health than people who had never faced college debt.

“As the cost of college has increased, students and their families have gone into debt to get to and stay in college,” said study author Adam M. Lippert, PhD, assistant professor at the Department of Sociology at the University of Colorado at Denver. , said in a press release.

In 2020, average student debt in the United States upon graduation from university or college ranged from $18,350 in Utah to nearly $40,000 in New Hampshire, according to the Institute for College Access & Success.

This is the average, so some students go into much more debt to pay for their studies.

“Unless something is done to lower the costs of going to college and cancel outstanding debt, the health consequences of rising student debt are likely to increase,” Lippert said.

The researchers used data from the National Longitudinal Study of Adolescent to Adult Health (also known as Add Health), which included more than 20,000 adolescents in grades 7 through 12.

Participants were first interviewed in 1994-95 and four more times between then and 2018.

In the last round, around 4,200 people – now aged between 33 and 44 – underwent medical examinations, including providing blood samples.

The researchers calculated each person’s risk of cardiovascular disease based on several factors: gender, age, blood pressure, use of high blood pressure medications, smoking, diabetes, and index of body mass.

This provided an estimate of a person’s risk of developing cardiovascular disease – such as heart failure, heart attack, stroke and coronary death – over the next 30 years.

The researchers also used participants’ blood samples to measure C-reactive protein (CRP), a biomarker of inflammation in the body. This has been linked to continuous or chronic exposure to stress.

In addition, participants answered questions about their student debt in the third and fifth rounds of interviews.

Of these, 37% reported no student debt at these times; 12% had then repaid their student loans; 28% took out student loans during these periods; and 24 percent had lifelong student debt.

The researchers found that people who constantly had student debt or who had taken on debt had higher cardiovascular risk scores than people who had never had student debt or who had repaid their loans.

Additionally, people who consistently had student debt had higher measures of chronic inflammation than those who had never had student debt. And those who took on debt had higher levels of inflammation than those who had paid off their loans.

In contrast, people who could repay their college debt had lower cardiovascular risk scores than those who had never incurred university or college debt.

The study was published on May 3 in the American Journal of Preventive Medicine.

Joseph D. Wolfe, PhD, associate professor in the Department of Sociology at the University of Alabama at Birmingham, said the new study’s findings are consistent with other research on the impact of debt on health. .

“In the work that I have carried out, we see that the health problems linked to over-indebtedness [owing more money than you own in assets] are often due to unsecured debt,” he said.

Unsecured debt is any debt that is not attached to an asset. The most common types are credit cards, payday loans, and medical debt.

This differs from secured debts such as a mortgage or car loan, which are tied to a physical asset.

In a study published last year in Gerontology journals: series BWolfe and his colleagues found that over-indebted people in their 40s were 90% more likely to have a psychiatric disorder and 31% more likely to be diagnosed with high blood pressure.

“Health problems are usually linked to unsecured debt by the stress and worry of financial hardship,” he said.

Taking out a large loan to buy a home may not produce the same stress.

“In my research, I found that [secured] debt is tied to the high value of individuals’ assets,” Wolfe said. “In these cases, debt may even have a positive association with health.”

However, even people with secured debt can experience financial difficulties, such as when they cannot pay their mortgage payments.

In another study, Adrianne Frech, PhD, associate professor in the School of Health Professions at the University of Missouri, and her colleagues found that carrying long-term unsecured debt was linked to poorer physical health more late in life.

In particular, they found that people with persistent debt were 76% more likely to have pain later in life that interfered with their daily activities compared to those without unsecured debt.

This level of pain can even interfere with their ability to work, making it harder for them to pay off their debt.

“The most surprising finding,” Frech added, “is that people who pay off debt earlier in adulthood continue to experience more pain around age 50 than people who had no debt. not guaranteed.”

“So just having had that debt in the past was associated with higher pain,” she said.

This research was published last year in the journal MHS – Population Health.

Although student loans aren’t generally considered unsecured debt, Frech said, for those who don’t finish school, these loans can look like credit card debt or medical debt.

“You have this massive debt that’s not tied to any degree assets,” she said. “So student debt can put someone in a very precarious position if they don’t finish college.”

However, some people who finish university or college still find it difficult to repay their student loans, which has a negative impact on their health.

Wolfe does not view student debt as inherently harmful to health. Instead, he said it depends on the amount of debt and how long people carry that debt.

Similarly, Lippert and his colleagues write that the results of the new study suggest that student debt is a “double-edged sword.”

Taking out student loans gives people access to college and university, which can improve heart and overall health — at least for those who can repay their loans.

Other research shows that having a four-year degree is linked to better health and less inflammation.

Lippert and his colleagues write that in general, the health benefits of earning a college or university degree outweigh the risks of student loans.

“The negative effects of poverty or not having a college degree outweigh the influence of student debt on cardiovascular health,” Lippert told Healthline.

However, for people who are struggling to repay their debt, these health benefits may be reduced.

“Our results show that those with a college degree had better cardiovascular health than those without a four-year degree,” Lippert said, “although these benefits were weaker for those with a college degree. who manage student loan debt over several years”.

This suggests that helping people maximize the benefits of their time at university or college could reduce the negative health effects of student debt.

“We could solve this problem by making higher education more affordable and improving the pathway between academia and the workforce,” Wolfe said.

Further, “we can create policies that regulate companies that trap individuals for decades of [student] debt,” he added.

Frech believes more needs to be done to help students make the most of the student debt they incur.

“Universities make money by having high enrollments, so they will do whatever they can to get the student to enroll initially,” she said.

“But they won’t always do enough to make students successful or to weed out students who might not be doing the way they should,” she added.

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NYC fights for more land trust community funding https://dininginbc.com/nyc-fights-for-more-land-trust-community-funding/ Thu, 21 Apr 2022 10:01:25 +0000 https://dininginbc.com/nyc-fights-for-more-land-trust-community-funding/ City Council Introduces Series of New Bills Aimed at Improving Access for Nonprofits to Buy Affordable Housing Dressed in bright yellow t-shirts and carrying signs that read “our land, our homes, controlled by us” and “public land for the public good”, several dozen members of New York City’s Community Land Trusts (CLTs) marched staged a […]]]>

City Council Introduces Series of New Bills Aimed at Improving Access for Nonprofits to Buy Affordable Housing

Dressed in bright yellow t-shirts and carrying signs that read “our land, our homes, controlled by us” and “public land for the public good”, several dozen members of New York City’s Community Land Trusts (CLTs) marched staged a rally at City Hall on April 14. They were pushing for Mayor Eric Adams and the New York City Council to add $3 million for CLTs to the city budget for fiscal year 2023. They were joined by elected officials, including City Council members Carlina Rivera, Tiffany Caban, Sandy Nurse and Carmen De La Rosa, as well as Controller Brad Lander.

“A lot of our neighborhoods are being swallowed up by these LLCs and corporations,” council member Sandy Nurse said at the rally. “It’s a tool we have and a tool we need and we need to fund it,” she said.

Hannah Anousheh is the only person on staff at East New York CLT, which was trained in the early months of the pandemic, when the recession was increasing foreclosures in the neighborhood. “As we like to say, we were born on fire,” Anousheh told Next City.

The community land trust model keeps land ownership in the hands of a non-profit organization. The non-profit organization typically enters into a 99-year ground lease with residents, who then join a council where they have a say in CLT rules, such as admissions criteria, maintenance fees and resale values. Residents can also build capital while paying the ground lease, but this capital is limited because the resale value of the home is usually capped to keep it affordable for the next resident.

Anousheh says each of the city’s CLTs received about $98,000 in fiscal year 2022. That was not enough to hire several staff members while covering other administrative costs. That’s why last Thursday’s rally calling on the city to double its CLT funding highlighted representation from four of the city’s five boroughs, including the East Harlem El Barrio CLT and the Cooper Square CLT, the city’s first. .

They also include Western Queens CLT, which is seeking to reclaim a building originally slated to become Amazon’s headquarters in Long Island City. The Department of Education-owned building could be a hub for local businesses, manufacturing jobs and low-cost artist spaces, say members of the Western Queens CLT. Rally attendees also included the Bronx CLT, an offshoot of the nonprofit Northwest Bronx Community and Clergy Coalition (NWBCCC). The Bronx CLT is working to acquire the vacant Kingsbridge Armoury, among other spaces.

“CLT’s efforts are actually the result of tenant organizing efforts to make sure we’re not just fighting back, we’re thinking of ways to take control of the buildings,” said Edward Garcia, a NWBCCC community organizer in Next City.

Anousheh says the Eastern New York CLT has yet to acquire land but has been involved in actions to acquire more properties for the land trust, including the Cancel the Tax Lien Sale campaign, which has pushed to the acquisition of tax-delinquent properties by non-profit organizations. . (While legislation allowing the sale of the city’s tax lien for four years was not renewed, Adams did not commit to transferring the indebted properties into land trusts, as had been wanted by the CLT of the city. ‘Eastern New York.) With additional funding, Anousheh says they could hire more administrative staff. , including a director of organization and a director of operations, to interest more neighbors in CLTs.

“In order for each CLT group to independently hire a staff member, we need that,” she told Next City. “It’s on par with other organizing coalitions.”

Carmen De La Rosa is a council member representing District 10, which covers Marble Hill, Washington Heights and Inwood in Upper Manhattan. She told Next City that many longtime members of her district’s predominantly Latino community are hungry for solutions that will stabilize their neighborhoods, which face continued displacement risks. She says the risk was heightened by a controversial 2018 rezoning of Inwood, one of nine city neighborhoods that had been rezoned during Bill de Blasio’s mayoralty. This rezoning was intended to increase housing production by allowing developers to build taller apartments in return for a mandate that 25% of all units remain affordable. But a report by the Association of Neighborhood and Housing Development found that these types of neighborhood-wide rezoning did not produce as high a ratio of affordable units as non-rezoned neighborhoods.

“One of the things that seems really palpable to me is the lack of affordability, especially when rezonings come into play,” De La Rosa told Next City. “So I support the community land trust model because I believe we are returning ownership to our communities.”

While there is sometimes skepticism about community land trusts from communities that have been cut off from formal means of wealth creation like home ownership, De La Rosa says people in her community are more focused on the short-term project of stabilizing their neighborhoods.

“The conversations that are more pronounced in my district are conversations about displacement and gentrification, and not necessarily the conversation about generational wealth creation,” says De La Rosa. “Most people in our community are heavily burdened with rent and can’t even think beyond their homes. They can’t even afford the apartments they live in.

The rally took place the same day council member Carlina Rivera introduced legislation to support community land trusts. Among those bills was the Community Opportunity to Purchase Act, citywide legislation that would alert nonprofits when buildings were being sold and give them the first opportunity to purchase them. Another bill would exempt CLTs from having to advertise on the city’s affordable housing portal, a mandate that has been criticized as costly and burdensome. Due to a 2018 law, units that are not registered on the housing portal within 18 months are subject to fines of $2,000 per month.

“Local Law 64 imposed a ‘one size fits all’ admissions process that is costly, punitive and inconsistent with CLTs,” Cooper Square Mutual Housing Association director Dave Powell said in a statement supporting the Rivera’s bills.

Last year, the city’s CLTs requested an addition of $1.5 million to the fiscal year 2022 budget, which they received. While $3 million would allow the city’s CLTs to significantly increase their staff, that money would not be set aside to acquire new properties. Proponents hope to increase their demands in future budgets. Councilman Charles Barron, whose district covers eastern New York, said at Thursday’s rally the real demand should be $1 billion, to laughter and agreement.

“I think we should at least start with $10 million. After getting the $10 million, then the billion dollars. And we can do that because there’s a municipal budget of $104 billion, a state budget of $220 billion,” Barron said. “Damn, you can give us a billion dollars.”

Roshan Abraham is Next City’s housing correspondent and a former Equitable Cities Fellow. He is based in Queens. Follow him on Twitter at @roshantone.

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Some struggle to pay property taxes and turn to high-interest lenders https://dininginbc.com/some-struggle-to-pay-property-taxes-and-turn-to-high-interest-lenders/ Wed, 20 Apr 2022 10:00:00 +0000 https://dininginbc.com/some-struggle-to-pay-property-taxes-and-turn-to-high-interest-lenders/ The surge in property valuations released this month has left many homeowners reeling. As some struggle to pay taxes, 2022 could bring revival to a controversial industry. Property tax lenders offer to help desperate homeowners and businesses protect their properties from foreclosure by offering immediate loans at high interest rates. After years of steady growth, […]]]>

The surge in property valuations released this month has left many homeowners reeling. As some struggle to pay taxes, 2022 could bring revival to a controversial industry.

Property tax lenders offer to help desperate homeowners and businesses protect their properties from foreclosure by offering immediate loans at high interest rates. After years of steady growth, the pandemic has cut its fortunes short, but some see the conditions ripe for a comeback.

“It’s definitely been a good year after a few pretty tough years before,” said Andy Cahill, president of Johnson & Starr, an Austin-based property tax lender that serves homeowners across the state. “I suspect this will be the best year we’ve seen in a long time.”

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The easiest loans to get https://dininginbc.com/the-easiest-loans-to-get/ Fri, 15 Apr 2022 07:00:00 +0000 https://dininginbc.com/the-easiest-loans-to-get/ You can get approved for some loans, such as emergency loans, payday loans, and bad credit or no credit check loans, even if you don’t have the best credit or a stable income. They can provide you with the funds you need to pay for any expenses that may arise. But just because these loans […]]]>

You can get approved for some loans, such as emergency loans, payday loans, and bad credit or no credit check loans, even if you don’t have the best credit or a stable income. They can provide you with the funds you need to pay for any expenses that may arise.

But just because these loans are easy to get doesn’t mean they’re right for you. Some come with exorbitant interest rates and fees that can weigh heavily on your finances.

The easiest loans and their risks

If you are looking for loans to cover an unexpected expense, you might consider taking out an emergency loan, a payday loan, or a loan for bad credit or no credit check. Although these types of loans are generally easy to obtain, each carries risks.

Emergency loans

An emergency loan is a personal loan used to cover unexpected expenses, such as medical bills or car repair bills. Lenders usually allow you to borrow $1,000 or more; some lenders even deposit the funds into your account the same day you sign the loan agreement. The interest rate you get on an emergency loan depends on several factors, such as your credit score, income, and debt-to-equity ratio.

Expect to pay between 5.99 and 35.99% interest. The lower your credit score, the higher the interest rate. If the lender charges an origination fee, you’ll typically pay between 1-8% of the loan amount.

Risks: If you don’t have a good to excellent credit score (at least 670) and a solid income, your loan may come with high interest rates and fees.

Payday loans

Payday loans are short-term loans designed to be repaid on your next pay period or within two weeks of taking out the loan. Because most payday lenders don’t check your credit, they’re easy to get. However, they have serious drawbacks in the form of high interest rates and fees.

In fact, the average interest rate on a $300 14-day payday loan is over 650% in some states. If you are unable to repay the loan by the due date, you may incur what is called a rollover fee (assuming payday loan rollovers are allowed in your state).

Risks: Since these loans come with excessive fees, they are best used as a last resort. If you can’t afford to repay the loan by the next pay period, you risk digging yourself a deeper hole financially.

Loans with bad credit or no credit check

A bad credit loan is a personal loan for borrowers who have less than stellar credit or a minimal credit history. Although minimum credit score requirements vary by lender, you will generally need at least a credit score of 580 to qualify. If you don’t meet the lender’s minimum credit score requirement, an alternative is to get a loan without a credit check. The downside of a no credit check loan is similar to a payday loan – it comes with high APR and fees.

Risks: If you have a very low credit score, you may be charged high interest and fees – some personal lenders have maximum interest rates of up to 35.99%.

Alternatives to Easy Loans

If you want to avoid the borrowing costs associated with the loans mentioned above, here are some alternatives to consider.

Local banks and credit unions

If you are a member of a local bank or credit union, contact them to see if you qualify for a personal loan. Since you have a relationship with the institution, you can benefit from better rates and conditions. For example, PenFed Credit Union offers personal loans with no origination fees and APRs as low as 4.99%.

Local charities and nonprofits

Check with your local chamber of commerce or library or call 211 to see if there are grants available in your area. Depending on your income level, you may be eligible for federal or state housing assistance or food assistance programs. If you need help paying your rent, you can use the US Department of Housing and Urban Development’s database to search for rental assistance programs in your area.

Payment Plans

If you can’t afford to pay a phone bill, medical bill, or other bill in full, ask the company if you can set up a payment plan. Although you’ll likely be charged additional fees or interest, it could cost less than getting a loan. Plus, you won’t have to submit a formal application or undergo a credit check.

Salary advances

If you need to pay an expense immediately but won’t be paid for a week or so, ask your employer for a payday advance. You will be borrowing money from yourself, which will save you from going into debt and having to pay interest and fees to a lender.

Breakdown of loans or hardship from your 401(k) plan

If you need more money than you could get with a payday advance or your employer doesn’t offer it and you have a 401(k), consider applying for a 401(k) loan or financial assistance. case of difficulties. There is no credit check and you can access funds quickly in most cases.

But you can expect to pay interest on the loan amount even if you are borrowing from yourself. These funds are deposited into your retirement account, but on an after-tax basis.

Borrow money from family or friends

If you want to avoid taking out an easy loan or paying little interest, ask a family member or friend to borrow some money. This option allows you to skip the formal loan application process and you can have more flexible repayment options. Also, the person lending you money may not charge you interest. Get the terms of the loan agreement in writing and repay the loan as promised to avoid damaging your relationship with the lender.

Next steps

Before taking out an easy loan, be sure to explore all of your borrowing options. This can help you pay the least amount of interest or get the best terms. If taking out an emergency loan is your only option for quick access to cash, prequalify for a personal loan to compare rates, fees, and terms from multiple lenders. If you are a member of a credit union or bank, contact them to find out if you qualify for a personal loan.

Frequently Asked Questions

How long does it take to get the loan funds?

Each lender is unique. However, many lenders offer quick financing, especially those that operate online. You may be able to receive the money by direct deposit within a few business days, 24 hours or even the same day you request it.

Do I need documents to apply for a loan?

In most cases, you will need to provide certain documents to apply for a loan. These can include government-issued identification like your driver’s license or passport that proves your identity as well as pay stubs and tax forms that reveal your financial situation.

What can I do to get a loan with better terms?

To get approved for a loan with a low rate and favorable terms, boost your credit score. You can do this if you pay your bills on time, reduce your level of debt, limit how often you request new accounts, and dispute any errors or inaccuracies in your credit reports.

Learn more:

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How to Live on $15/Hour in Austin https://dininginbc.com/how-to-live-on-15-hour-in-austin/ Thu, 14 Apr 2022 07:00:00 +0000 https://dininginbc.com/how-to-live-on-15-hour-in-austin/ When Ben Patterson, a student at the University of Texas, graduates this spring, he will join the large group of Austinians who earn $15 an hour at their primary workplace. Once the “livable” wage that thousands across the country fought to achieve the national minimum wage, living on $15/hour is now an almost insurmountable task […]]]>

When Ben Patterson, a student at the University of Texas, graduates this spring, he will join the large group of Austinians who earn $15 an hour at their primary workplace.


Once the “livable” wage that thousands across the country fought to achieve the national minimum wage, living on $15/hour is now an almost insurmountable task in many urban metros, including the smack-dab tech hub. boom in Austin, where the median home price pushed past $600,000 in March.

Charles Mitchell, owner of Capital Budgeting Strategies, knows all too well the dangers of recent college graduates. He’s worked with clients with as little as $67 to their name and says living alone is doable, if you’re willing to sacrifice time or luxury.

Here’s the key to budgeting for that $15/hour income in Austin, according to Mitchell:

Find your hidden accommodation gem

In addition to paying off debt early, avoiding high-interest loans like payday loans and sacrificing some of life’s luxuries, Mitchell told Austinia the key is finding cheap housing.

Affordable housing might seem like a piece of old Austin legend, and it would be hard to find housing in Mitchell’s sweet spot – one that costs less than 28% of your monthly budget. For a full-time employee earning $15 per hour, this income amounts to $2,217 per month.

This allocates $620 per month for rent. Selections can be slim – only two complexes offer four-bedroom apartments for this range in Austin on ApartmentFinder.com – but with enough roommates, some special offers and the help of apartment locators, it’s still very close. possible in the city.

The more likely scenario, like Patterson’s, could be to find other budget areas to cut. Mitchell recommends skimping on luxuries, like payments for nicer cars, and cutting back on savings if necessary.

“I’ll be able to more or less prioritize paying ‘X’ amount for rent each month,” Patterson said. “Trying not to just spend exuberantly or be impulsive with buying habits…just knowing that in the next few months I have to start being able to dish out an extra $1,000 every month just to live. “

But $15 an hour isn’t enough anymore, even for Austin homeowners. Fae, an Amazon and Whole Foods employee who uses a pseudonym because she goes against company media policy, has owned a house in Pflugerville for 20 years when it was worth half its value current.

But like virtually every other co-worker she knows, Fae has landed several extra jobs in order to make a living in her town.

Get a scramble

Fae recently had a bittersweet celebration as her hourly wage rose to $15.25, a 25-cent increase after three years with the company. Salaries like his put the median salary for Amazon employees at just over $31,000 in Austin, less than half the median salary at Google, Meta and Apple.

“Even full-time (employees), it doesn’t matter, they can’t rely on Amazon as a living job,” Fae told Austinia. “Everyone I know has a side job.”

Even before stepping out on his own, Patterson is preparing to work more for a second stream of income that works with his hours at his current job at Austin FC’s Q2 stadium without spending his energy on the ground.

A side hustle can be essential to pay off loans early and start saving for retirement (Mitchell recommends a high-interest IRA), but it doesn’t have to be too taxing: Mitchell said everything from taking food delivery shifts to having a garage sale could re-energize your budget.

Find a sustainable employer

Patterson didn’t take his current job for the money – rather he hopes his current gig at the stadium could lead to his breakthrough in the sports industry.

Accepting a job with clear upward mobility is key, says Mitchell, and bonuses like matching 401(k) plans or other perks are a huge plus. If your job offers neither and still doesn’t pay enough, it might be time to consider moving to a more sustainable job.

Mitchell said many people don’t learn the financial literacy tools needed to make a living in Austin, and many other people are never informed about available job options. Although Austin hasn’t received much praise for its affordability in recent months, its job market is booming, with more than 58,000 additional jobs created from February 2020 to February 2022.

If your debt is low and you have more time, it is always advisable to invest in a marketable skill online or at a local community college. And while it might not be as desirable, some restaurants and entry-level positions, including McDonald’s, have raised the starting salary for some positions to over $15 an hour.

Stay or go?

Even with that guidance in place, Fae and Patterson agree that their current salary is hardly achievable in Austin.

“The way rents and real estate keep getting more and more expensive…I don’t think it’s in a sustainable place,” Patterson said. “Even today it’s a bit on the fringes with people still managing to make ends meet.”

“There probably isn’t a week that goes by that I don’t guess if I’m making the right call,” Patterson said. “But I’m also pretty confident, just knowing myself as a person, that I’ll be able to… sort myself out and find a way to make things work.”

Fae plans to stay too, even if other Austinites she knows could be kicked out, as she collects workplace horror stories – and unlivable wages – at Amazon before her line of products from home care does not take off.

“Everybody who’s originally from Austin can’t even afford to live in Austin (anymore) and they’re just moving out,” Fae said. “My question is, how do they get out of this?”

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It’s 2022 and Texas remains one of the worst states for consumers to borrow from payday lenders https://dininginbc.com/its-2022-and-texas-remains-one-of-the-worst-states-for-consumers-to-borrow-from-payday-lenders/ Wed, 13 Apr 2022 12:02:42 +0000 https://dininginbc.com/its-2022-and-texas-remains-one-of-the-worst-states-for-consumers-to-borrow-from-payday-lenders/ Need a $500 loan to hold out until your next paycheck drops? In Texas, the average consumer will have to repay that amount, plus an additional $645 in interest. That’s according to a new payday loan analysis from Pew Charitable Trusts that ranks Texas among the most expensive states for consumers to borrow money. The […]]]>

Need a $500 loan to hold out until your next paycheck drops? In Texas, the average consumer will have to repay that amount, plus an additional $645 in interest.

That’s according to a new payday loan analysis from Pew Charitable Trusts that ranks Texas among the most expensive states for consumers to borrow money.

The report is an update of a national analysis of payday loans conducted by the research center eight years ago. Texas state payday lending practices changed little during this time, according to previous findings from Pew.

“We have an extremely expensive payday loan and auto title market,” said Texas Appleseed director Ann Badour. Texas Appleseed is a nonprofit advocacy organization that advocates for equitable policies in Texas.

“People make these payments and they never progress in paying down the principal,” Badour said. “Or if they do, it’s insignificant progress. And then they get to a point where they just can’t take it.

Sometimes called small dollar loans, payday loans target Americans who live paycheck to paycheck or are in financial difficulty. Critics of high-cost payday loans say the loans can trap low-income Americans in a cycle of debt.

Pew’s updated analysis of Texas payday lending practices draws on state regulatory data as well as products advertised by the six largest payday lenders in the country. Texas consumers paid $1.5 billion in fees on payday loans in 2021, the analysis found.

The average consumer in Texas who took out a payday loan had to pay 527% of the loan amount in fees and interest on a four-month installment plan. The only states with higher average rates were Utah, Nevada and Idaho.

Pew found that payday lenders tend to charge the maximum amount for loans under state law and only charge lower rates when required to do so.

The payday loan industry and critics of regulation argue that they provide vital access to credit where banks choose not to, and that the high fees they charge are appropriate given the track record of credit from their customers.

Over the past decade, states like Colorado, Hawaii, Ohio, and Virginia have passed laws strengthening consumer protections accessing payday loans.

In some of those states, pro-consumer protections enacted by lawmakers mean borrowing from the same payday loan companies can cost the consumer up to four times less, according to Pew.

Washington, DC, and 16 states have already adopted caps on loan rates charged by payday lenders.

Dozens of Texas municipalities have taken action to combat predatory lending practices over the past decade, including Houston and Dallas.

Dallas’ law was the first in the state. Passed in 2011, it required payday loan companies to register with the city, prevented them from paying preload fees and limited the number of times a loan could be refinanced.

In response, payday lenders have introduced new types of loans called unsecured personal loans and signature loans with fees similar to those targeted by local regulations.

And in 2019, Texas Attorney General Ken Paxton issued an advisory saying these loans were legally different from loans regulated by local ordinances, such as in Dallas, and that local laws did not apply to them.

In 2021, Dallas further strengthened its laws to include more types of loans and close the loopholes created by the 2019 advisory.

In Dallas, payday loan businesses remain commonplace in communities of color and in areas like South Dallas with lower median incomes. A survey by WFAA-TV (Channel 8) recently counted 88 payday lenders south of Interstate 30.

Local ordinances have been somewhat effective in regulating the industry, but payday lenders have continued to introduce new types of loans to evade the rules, Badour said.

Statewide attempts to create broader regulations have failed. In 2013, legislation that would preempt local ordinances and impose caps on payday lenders failed because state lawmakers could not agree on how to write the regulations.

“It’s true that people need access to credit, and we need to think and be more creative. But a bad product is not the solution,” Badour said.

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