Lending money – Ibook Linux http://www.ibooklinux.net/ Thu, 24 Nov 2022 05:52:08 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://www.ibooklinux.net/wp-content/uploads/2021/06/ibook-150x150.png Lending money – Ibook Linux http://www.ibooklinux.net/ 32 32 Beware of Instant Loan Apps! SBI shares 6 safety tips https://www.ibooklinux.net/beware-of-instant-loan-apps-sbi-shares-6-safety-tips/ Thu, 24 Nov 2022 05:38:48 +0000 https://www.ibooklinux.net/beware-of-instant-loan-apps-sbi-shares-6-safety-tips/ The State Bank of India (SBI) has warned customers against instant loan apps. The country’s leading lender has shared some safety tips that customers should follow in order to avoid falling into instant loan app traps. “Please refrain from clicking on any suspicious links or giving your information to any company posing as a bank […]]]>

The State Bank of India (SBI) has warned customers against instant loan apps. The country’s leading lender has shared some safety tips that customers should follow in order to avoid falling into instant loan app traps. “Please refrain from clicking on any suspicious links or giving your information to any company posing as a bank or financial company. Report cyber crimes at – https://cybercrime.gov.in,” the SBI tweeted on November 22.

SBI shares 6 safety tips

1) Check the authenticity of an application before downloading it.

2) Do not click on suspicious links.

3) It is better to avoid using unauthorized apps that might steal your data.

4) Check app permission settings to protect your data from theft.

5) Report suspicious money lending apps to local law enforcement.

6) Visit http://bank.sbi. For all your financial needs.

Legitimate loans can be offered by banks, non-bank financial companies registered with the RBI, and entities regulated by state governments.

Additionally, consumers should never share copies of Know Your Customer (KYC) documents with unidentified, unverified/unauthorized applications and should report such incidents to relevant law enforcement agencies.

From time to time, SBI continues to alert its customers notifying them of phishing trends and methods to protect them from such fraud. SBI keeps its customers informed via its official Twitter account (@TheOfficialSBI).

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Virgin Money shares jump on higher earnings and investor payouts https://www.ibooklinux.net/virgin-money-shares-jump-on-higher-earnings-and-investor-payouts/ Mon, 21 Nov 2022 08:34:00 +0000 https://www.ibooklinux.net/virgin-money-shares-jump-on-higher-earnings-and-investor-payouts/ LONDON, Nov 21 (Reuters) – Shares in British lender Virgin Money (VMUK.L) jumped 16% on Monday after reporting a full-year rise in profits and investor payouts amid rising bank rates. Bank of England has raised its finances despite an imminent threat. economic downturn. Virgin Money reported pre-tax profit of 595 million pounds ($703 million) for […]]]>

LONDON, Nov 21 (Reuters) – Shares in British lender Virgin Money (VMUK.L) jumped 16% on Monday after reporting a full-year rise in profits and investor payouts amid rising bank rates. Bank of England has raised its finances despite an imminent threat. economic downturn.

Virgin Money reported pre-tax profit of 595 million pounds ($703 million) for the year ending September, up 43% from 417 million a year earlier.

The bank – which has resumed payments to investors over the past year – said it would pay a final dividend of 7.5p per share and buy back a further £50m of shares.

JPMorgan banking analysts said the lender’s results were strong, adding that shareholder returns were more generous than expected.

Virgin Money shares were last up 15% at 0827 GMT.

The country’s sixth-largest lender was created by the merger of Virgin Money and rival CYBG in 2018, in a bid to challenge the market dominance of banks including Lloyds and Barclays.

Investors fear an economic crisis in Britain could lead to an increase in loan defaults and bank finances, with official budget forecasters predicting that households will face record living standards over the next two years.

However, lenders have also benefited from higher rates intended to curb runaway inflation, as they profit from the gap between what they charge on loans and what they pay on deposits.

Virgin Money said it expected its net interest margin – a key measure of profitability – to decline from 185 basis points to between 185 and 190 basis points next year.

The bank has set aside £52m to cover possible bad loans to reflect the deteriorating economic outlook, but said there were limited signs of credit problems so far.

CEO David Duffy told reporters there were nonetheless signs customers were being stretched.

Customer spending on energy bills rose 57% and grocery spending rose 16%, Duffy said, while the lender saw a slight increase in credit card spending for essentials. .

“We recognize that some customers will have to make difficult decisions in this environment, and we are proactively offering them help and support,” Duffy said.

Virgin Money had raised staff salaries to help them cope with cost-of-living pressures, Duffy said.

The bank has agreed to a 9-11% pay rise for its staff, split between the January and July raises, a bank spokesman said.

($1 = 0.8467 pounds)

Reporting by Iain Withers; edited by Emma-Victoria Farr and Jason Neely

Our standards: The Thomson Reuters Trust Principles.

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Personal loan applications for rising debt consolidation, report finds https://www.ibooklinux.net/personal-loan-applications-for-rising-debt-consolidation-report-finds/ Thu, 17 Nov 2022 21:20:50 +0000 https://www.ibooklinux.net/personal-loan-applications-for-rising-debt-consolidation-report-finds/ In these unpredictable times, flexibility is key, especially when it comes to borrowing money for the things we need most. In a pinch, personal loans can be used to cover a number of things, from wedding expenses, surprise medical bills, major home repairs, or funeral expenses. Debt consolidation can also be a particularly strategic way […]]]>

In these unpredictable times, flexibility is key, especially when it comes to borrowing money for the things we need most. In a pinch, personal loans can be used to cover a number of things, from wedding expenses, surprise medical bills, major home repairs, or funeral expenses.

Debt consolidation can also be a particularly strategic way to use them, as the process allows borrowers to better organize their debts and usually involves a lender sending funds to creditors on your behalf. Consolidating debt through a personal loan also allows borrowers to benefit from a lower interest rate while they repay the loan, which saves a lot of money over the life of the loan. .

A recent study by LendingTree indicated that between the third quarter of 2021 and the third quarter of 2022, applications for personal loans in general increased by 12.3%, while applications for personal loans to be used for debt consolidation increased. increased by 29.1% during this period of time.

The report said the increase in annual percentage rates, or APR, coinciding with interest rate hikes by the Federal Reserve, was the main reason for the recent spikes.

Below, Select details what you can do if you want to take out a personal loan for debt consolidation purposes.

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How to apply for a personal loan

Beginner personal loans

  • Annual Percentage Rate (APR)

  • Purpose of the loan

    Debt consolidation, credit card refinancing, marriage, moving or medical

  • Loan amounts

  • Terms

  • Credit needed

    FICO or Vantage score of 600 (but will accept applicants whose credit history is so poor that they have no credit score)

  • Assembly costs

    0% to 8% of target amount

  • Prepayment penalty

  • Late charge

    Greater of 5% of monthly amount past due or $15

OneMain Financial Personal Loans

  • Annual Percentage Rate (APR)

  • Purpose of the loan

    Debt consolidation, big expenses, emergency expenses

  • Loan amounts

  • Terms

  • Credit needed

  • Assembly costs

    Flat fee from $25 to $1,000 or percentage ranging from 1% to 10% (depending on your state)

  • Prepayment penalty

  • Late charge

    Up to $30 per late payment or up to 15% (depending on your state)

Click here to see if you are prequalified for a personal loan offer. Conditions apply.

Next, you’ll want to determine how much money you actually need to borrow. If you are consolidating debt, simply add up all of your balances to get a total.

While the smallest personal loan amounts — from a lender like PenFed Credit Union, for example — tend to start around $600, minimum amounts closer to the $1,000 mark are often more common. Be careful not to ask for more than you need, as you will eventually have to pay back all the money.

PenFed Personal Loans

  • Annual Percentage Rate (APR)

  • Purpose of the loan

    Debt consolidation, home improvement, medical bills, car financing and more

  • Loan amounts

  • Terms

  • Credit needed

  • Assembly costs

  • Prepayment penalty

  • Late charge

Next, you’ll want to do your homework by researching and comparing the rates, fees, and terms of different personal loan providers. Some lenders will let you check your rate without hurting your credit score before you even apply.

Ideally, you’ll want to go with a lender that offers a low interest rate with no fees (or the least amount of fees) and a term that best fits your budget. Goldman Sachs’ LightStream and Marcus are each known to offer personal loans with no origination fees, late fees, or prepayment fees.

LightStream Personal Loans

  • Annual Percentage Rate (APR)

    5.99% to 21.49%* when you sign up for autopay

  • Purpose of the loan

    Debt consolidation, renovation, car financing, medical expenses, marriage and more

  • Loan amounts

  • Terms

  • Credit needed

  • Assembly costs

  • Prepayment penalty

  • Late charge

Marcus by Goldman Sachs Personal Loans

  • Annual Percentage Rate (APR)

    6.99% to 24.99% APR when you sign up for autopay

  • Purpose of the loan

    Debt consolidation, home improvement, wedding, moving and moving or vacation

  • Loan amounts

  • Terms

  • Credit needed

  • Assembly costs

  • Prepayment penalty

  • Late charge

When you decide which lender you want to go with, submit your application and wait for approval, which can take anywhere from one to a few days. After that, just wait for the funds to be paid out.

With debt consolidation, lenders will usually disburse money directly to up to 10 of your chosen creditors – you only need to provide their information and how much money each needs to be sent. This way, you will simply be responsible for reimbursing your personal lender.

Get matched with personal loan offers.

At the end of the line

Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff only and have not been reviewed, endorsed or otherwise endorsed by any third party.

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How Canceling Student Loans Could Boost Black Homeownership Rates https://www.ibooklinux.net/how-canceling-student-loans-could-boost-black-homeownership-rates/ Tue, 15 Nov 2022 09:24:05 +0000 https://www.ibooklinux.net/how-canceling-student-loans-could-boost-black-homeownership-rates/ fizkes // Shutterstock How Canceling Student Loans Could Boost Black Homeownership Rates Young girl holding a cardboard box running through a house According to a 2021 National Association of Realtors survey, six in 10 millennials who don’t own a home say it’s because of a student loan. Tuition fees have skyrocketed over the past two […]]]>

fizkes // Shutterstock

How Canceling Student Loans Could Boost Black Homeownership Rates

Young girl holding a cardboard box running through a house

According to a 2021 National Association of Realtors survey, six in 10 millennials who don’t own a home say it’s because of a student loan.

Tuition fees have skyrocketed over the past two decades. According to the Education Data Initiative, average tuition fees between 2010-11 and 2020-21 increased by almost 31% at public universities and more than 41% at private universities. Students now pay an average of $35,551 per year.

This debt has deepened the racial homeownership gap, which has widened over decades of discriminatory lending practices, racist housing policies and barriers to wealth for black Americans and other people. of color. These trends have caused more students from marginalized communities to take on additional financial risk for a college degree.

For many, loans make college possible. More than 45 million people in 2020 had student loan debt, averaging $37,693 per person, per Education Data Initiative. These costs have made it difficult for many to pay a down payment on a home. The homeownership rate drops nearly 2 percentage points for every additional $1,000 of student debt held by a borrower, according to the Federal Reserve.

Stacker looked at data from the Federal Reserve and the Department of Education to see how federal student loan cancellation could boost homeownership rates in the United States, especially among black Americans.

Because black Americans have historically been unable to create wealth as easily as their non-black counterparts, they rely more on loans to obtain big-ticket items like higher education and home ownership. Student loan repayments and higher interest rates hamper their ability to buy a home and can trap them in a cycle of inequality. In August 2022, the Biden administration announced it would forgive $10,000 in student loan debt, affecting approximately 43 million borrowers.

Read on to see the effect of student loan forgiveness on black homeownership rates in the United States

You might also like: 30 College Majors That Didn’t Exist 50 Years Ago



Stacker

Americans hold more than $1.7 trillion in student loan debt

A graph showing how student loan debt has ballooned since 2006

Student loan debt has nearly tripled since 2006.

Although total debt continues to rise, the rate of growth has slowed considerably. In 2013, the year-over-year change was 12.1%; last year it was 0.31%.

The federal government suspended federal student loan payments during the pandemic, which fixed interest rates at 0% and allowed borrowers to skip loan payments without the risk of late fees or default. This policy has helped 4.7 million people reduce their balance, but it is due to expire at the end of 2022.



Stacker

Black and Hispanic students are more likely to have student loan debt

A graph showing student loan debt by race

An analysis by the Brookings Institute found that black Americans face a cycle of inequality when paying for higher education. The report found that black American households cannot build wealth at the same rate as non-black households. This finding also means that black students borrow more money for college and have higher loan repayments after graduation, reducing their opportunities to build wealth during their peak earning years.

Hispanic Americans are also experiencing a wealth gap, which is fueling the need for more student loans, according to UnidosUS. Many Hispanic Americans are also first-generation college students, which can make it difficult to navigate the financial aid system.



Stacker

Black Americans have lower homeownership rates

A graph showing that white families hold the majority of real estate wealth

Black homeownership rates (43.4%) lag significantly behind white Americans (72.1%) and have fallen nearly 1 percentage point since 2010, according to the National Association of Realtors . In fact, that gap is wider today than when the Fair Housing Act was passed in 1968.

Black households also lag in income, earning just 61 cents for every dollar earned by comparable white households, according to an Economic Policy Institute analysis of the latest Census Bureau data. With lower incomes on average, black Americans are denied mortgages at twice the national average, according to a 2022 LendingTree study.

Black Americans will often seek higher education to increase their earning potential. Still, it’s hard to take on more debt when student loan repayments are a big part of a monthly budget. Due to student loan debt, nearly half of black Americans said they would likely delay homeownership.



fizkes // Shutterstock

What student loan forgiveness could mean for black Americans

Excited kids jumping out of box playing with parents in living room

Black Americans face disparities in wealth building, and student loans have exacerbated this problem. According to an analysis by the Brookings Institute, more than half of black American households with student debt have zero or negative net worth, about twice as many as those without student debt.

Canceling student loans would not eliminate the racial wealth gap, but could significantly reduce it. Loan forgiveness may also provide more opportunities for Black Americans to afford homes and build intergenerational wealth in line with the American Dream.


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FTX Bankruptcy Is ‘Somebody Running A Company That’s Just Stupid As Fucking Greedy,’ Says Mark Cuban https://www.ibooklinux.net/ftx-bankruptcy-is-somebody-running-a-company-thats-just-stupid-as-fucking-greedy-says-mark-cuban/ Sat, 12 Nov 2022 20:24:00 +0000 https://www.ibooklinux.net/ftx-bankruptcy-is-somebody-running-a-company-thats-just-stupid-as-fucking-greedy-says-mark-cuban/ Billionaire Dallas Maverick owner Mark Cuban recently offered his take on the implosion of crypto platform FTX over the weekend. ““He’s someone who runs a business who’s just stupid as fuckin’ greedy.”” — Marc Cuban Cuban, speaking Friday at a conference in Washington, D.C. hosted by Sports Business Journal, shared the view that greed was […]]]>

Billionaire Dallas Maverick owner Mark Cuban recently offered his take on the implosion of crypto platform FTX over the weekend.

“He’s someone who runs a business who’s just stupid as fuckin’ greedy.”


— Marc Cuban

Cuban, speaking Friday at a conference in Washington, D.C. hosted by Sports Business Journal, shared the view that greed was behind the downfall of former crypto darling Sam Bankman. -Fried, whose company FTX Group just filed for Chapter 11 bankruptcy.

“So what is Sam Bankman [Fried] do, it’s just – ‘give me more, give me more, give me more.’ So I’m going to borrow money, lend it to an affiliate, and hope and pretend that the FTT tokens that are on my balance sheet will hold their value.

Check: Mark Cuban Says Buying Real Estate In The Metaverse Is “The Dumbest Shit Ever”

The collapse of FTX marks a stunning turnaround for a company, which was once valued at $26 billion, and whose founder, Bankman-Fried, was considered by many in the crypto industry to be a venerable player in the industry. the Wild West of digital exchanges.

On Thursday, the 30-year-old entrepreneur tweeted, “I screwed up and should have done better,” referring to the collapse of his exchange.

Beleaguered FTX, strapped for billions of dollars, filed for bankruptcy protection after the exchange experienced the crypto equivalent of a bank run. FTX, an Alameda Research affiliate hedge fund, and dozens of other related companies also filed for bankruptcy in Delaware on Friday morning. Boasting a fortune of nearly $16 billion recently, Sam Bankman Fried’s net worth had all but evaporated following the FTX implosion, according to the Bloomberg Billionaires Index.

The price of FTX’s native FTT token has declined around 88.8% in the past seven days to around $2.74, according to data from CoinMarketCap.

The US Department of Justice and the Securities and Exchange Commission review the crypto exchange to determine if any criminal activity or securities offenses have occurred.

Regulators and are investigating whether FTX used customer deposits to fund bets at Alameda Research, a no-no in traditional markets, according to reports.

Cuban, who is one of the stars of the investing show “Shark Tank” and owns the NBA’s Dallas Mavericks, is a big investor in crypto and blockchain-related platforms. According to a CNBC report, he said that 80% of his investments that are not on Shark Tank are crypto-centric.

See: Tom Brady, Steph Curry and Kevin O’Leary set to lose big from FTX bankruptcy filing

For his part, Cuban is part of a class action lawsuit accused of tricking investors into opening accounts with crypto platform Voyager Digital, which filed for bankruptcy in July. The lawsuit alleges that Cuban touted his support for Voyager and called it “as secure as it gets in the crypto space.”

Cuban mentioned Voyager in his Friday interview. Representatives for the billionaire investor did not immediately respond to a request for comment.

The owner of the Mavericks caught on Twitter Saturday to say that the crypto implosions “have been bank blasts. Lending to the wrong entity, collateral valuation errors, arrogant arrogance, followed by depositor rushes. »

Cuba’s net worth is $4.6 billion, according to Forbes.

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Virgin Money joins UK funding program https://www.ibooklinux.net/virgin-money-joins-uk-funding-program/ Sun, 06 Nov 2022 23:46:52 +0000 https://www.ibooklinux.net/virgin-money-joins-uk-funding-program/ Financial services firm Virgin Money has joined the UK government’s General Export Facility (GEF), opening up access to financial support for the firm’s corporate clients at a time when the UK is facing overwhelming pressure on the cost of living. “The EGF was launched in March 2021 and is designed to provide access to flexible […]]]>

Financial services firm Virgin Money has joined the UK government’s General Export Facility (GEF), opening up access to financial support for the firm’s corporate clients at a time when the UK is facing overwhelming pressure on the cost of living.

“The EGF was launched in March 2021 and is designed to provide access to flexible finance for exporting SMEs,” UK Export Finance said in a press release on Friday November 4. “This product has been a game-changer by unlocking almost £250 million in working capital loans.”

Virgin Money joins six other program lenders: HSBC, Santander, Barclays, Lloyds, NatWest and Newable. His first project will see him back Oxfordshire-based Westminster Group, helping the company land new contracts to supply security X-ray machines to two airports in southern Africa.

The news comes days after reports that England’s four biggest banks – Barclays, HSBC, Lloyds and Santander – saw a boost in income thanks to interest rate hikes by the country’s central bank. As PYMNTS reported, this has led some UK politicians to ask these lenders to pay a windfall tax to help narrow the country’s fiscal gap.

The UK’s Financial Conduct Authority last week also ordered 32 lenders to change the way they treat customers, with seven of those companies agreeing to pay 12 million pounds ($13.5 million) in compensation to nearly 60,000 customers.

“Given the current cost of living challenges, it is essential that the industry continues to learn lessons to ensure it supports struggling customers,” said Sheldon Mills, executive director of consumer and competition. of the FCA, in a press release. “We will take action to restrict or prevent businesses from lending to people if they fail to meet our requirements that consumers in financial difficulty be treated fairly.”

As PYMNTS reported, these challenges include food inflation hitting a record annual rate of 11.6% for October, leaving people to pay more for fresh food, as well as basic necessities such as tea, milk and sugar.

Last month, the UK’s GfK Consumer Confidence Index – which measures people’s overall financial condition and general feelings about the economy – has seen a near-continuous decline. In September, the index fell to an all-time low of -49, marking the fifth straight month in which the metric hit a new low.

For all PYMNTS EMEA and B2B coverage, subscribe daily EMEA and B2B newsletters.

We are always looking for partnership opportunities with innovators and disruptors.

Learn more

https://www.pymnts.com/cryptocurrency/2022/uk-crypto-firms-will-need-fca-approval-to-advertise/partial/

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Fast Cash Loan: risk-free financing method for everything https://www.ibooklinux.net/fast-cash-loan-risk-free-financing-method-for-everything/ Fri, 04 Nov 2022 13:29:27 +0000 https://www.ibooklinux.net/fast-cash-loan-risk-free-financing-method-for-everything/ Financial emergencies are unpredictable; and they have their ups and downs. However, you can meet them head-on with many financial offers available in the market today. Online loans are such financial products that have gained immense popularity among borrowers due to their unsecured nature and super-fast approvals and disbursements, sometimes within a day from Non-Banking […]]]>

Financial emergencies are unpredictable; and they have their ups and downs. However, you can meet them head-on with many financial offers available in the market today. Online loans are such financial products that have gained immense popularity among borrowers due to their unsecured nature and super-fast approvals and disbursements, sometimes within a day from Non-Banking Financial Companies (NBFCS) like Poonawalla Fincorp.

Today we continue to see many changes in financing, especially how accessible and available it has become to borrowers. Unlike the old days when a person had to go to a branch to stand in line to fill out endless forms, today the internet has allowed us to access a variety of financial instruments from anywhere in one click.

From money transfers to huge loans, everything is available online, with quick and easy-to-follow processes. With a few simple steps, borrowers can get approvals in minutes, receive funds in less than a day, without having to worry about providing collateral when applying.

Benefits of fast cash loans:

Quick cash loans are basically personal loans that borrowers can get loans online today. These loans are short term loans which can be availed within hours of application. To apply, all you have to do is visit the website, fill out a form with basic information, and upload the required documents.

New Age Non-Banking Financial Companies (NBFCs) like Poonawalla Fincorp can approve personal loans within hours once you fulfill the eligibility criteria and transfer the amount immediately to the account in no time. These loans also help borrowers avoid unnecessary long-term financial commitments that lead to high interest payments. With a minimum repayment period, you can immediately borrow instant online personal loans when needed. Some of the prominent advantages of fast cash loans are:

Quick access and simple procedure

As it is a kind of unsecured loan, the overall application procedure is much easier than secured loans. As the name ‘fast cash loan’ suggests, application, verification, approval and disbursement all happen in the blink of an eye. The loan amount will be repaid within few hours or days making it the most accessible loan. You can also get a loan without collateral in a very short time by using any financial institution or online credit institution.

Documents online

Traditionally, financial institutions required heavy documentation and paperwork. From the application form to the final signature, the process of obtaining the loans was tedious. Online sites and apps that provide fast cash loans use their unique ID numbers to verify KYC in real-time, resulting in faster instant loan approvals.

Risk-free financing

The most important advantage of applying for a personal loan is that the borrower does not risk losing property, vehicles or other assets held as collateral. This is considered to be the most rewarding option for those with no valuable assets to provide as collateral – worst case scenario; they do not risk losing their property: house, land or other property.

Multi-purpose loan

Secured loans are usually fixed and most can only be used for specific purposes such as business, gold, home, car, etc.

On the other hand, unsecured loans provide flexibility in using funds for different purposes. There is no obligation to use them for any particular purpose.

Eligibility Criteria for Fast Cash Loans

The eligibility criteria for the Personal Loan are lenient compared to secured loans. To get the quick cash loan, you

– Must be 22 years of age or older,

-Must have a minimum monthly income of 20,000

-Must provide a three-month payslip and statement from the financial institution

The user-friendly nature of the loan application, ease of access to fast cash loans and flexible repayment options without collateral can be availed by those who meet the above criteria.

Disclaimer: This article is a paid publication and does not involve any journalistic/editorial involvement of the Hindustan Times. Hindustan Times does not endorse/endorse the content(s) of the article/advertisement and/or opinions expressed herein. Hindustan Times shall not be in any way responsible and/or liable in any way whatsoever for anything stated in the article and/or also with respect to the view(s), opinion(s) ), announcement(s), statement(s), affirmation(s) etc., stated/presented in the same.

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What to do if you win a $1.2 billion Powerball jackpot, according to experts https://www.ibooklinux.net/what-to-do-if-you-win-a-1-2-billion-powerball-jackpot-according-to-experts/ Tue, 01 Nov 2022 14:14:11 +0000 https://www.ibooklinux.net/what-to-do-if-you-win-a-1-2-billion-powerball-jackpot-according-to-experts/ Stay ahead of the fashion trend and beyond with our free weekly Lifestyle Edit newsletter Stay ahead of the fashion trend and beyond with our free weekly Lifestyle Edit newsletter The Powerball jackpot has reached approximately $1.2 billion for only the second time in Powerball’s 30-year history. The current jackpot, which would become the second-biggest […]]]>

The Powerball jackpot has reached approximately $1.2 billion for only the second time in Powerball’s 30-year history.

The current jackpot, which would become the second-biggest jackpot in Powerball history and the fifth-biggest jackpot in US lottery history if a player wins Wednesday’s draw, means the winner would walk away with 596.3 million dollars in cash.

The Powerball prize increase comes after no tickets matched the six numbers drawn on Monday night, with the next draw taking place on Wednesday November 2. The draw will mark the 39th jackpot draw, as there have been no grand prize winners since August 3.

As for the odds of winning the $1 billion prize, they are unlikely, considering the odds of matching five white balls, in any order, plus the red Powerball number to win the jackpot, are one in 292.2 million.

However, there are also other ways to win, with Powerball explaining that there are actually nine ways to win prizes and the overall odds of winning a prize are one in 24.87.

While the odds of winning the Powerball jackpot are exceptionally rare, it is possible, as proven by the three winners of the $1.58 billion Powerball jackpot in 2016. As for what to do if you end up with a matching ticket at the Powerball jackpot, or even one for a $1 million prize, experts agree that there are a few things every lottery winner should consider before making any decisions.

Make copies of your ticket and do not sign it

If you manage to beat the odds and end up with the winning Powerball jackpot ticket, the first thing to do, according to experts, is to make several copies and take pictures of the ticket.

“I would take a selfie with it,” Robert Pagliarini of Pacifica Wealth Advisors previously said. Today. “I would take a video of the ticket and smile.”

As for whether you need to sign the back of your ticket, many experts agree that you should wait, as it can interfere with your ability to remain anonymous.

“If a client comes to me and they have an unsigned ticket on the back, I can really paint whatever picture they want and keep them anonymous throughout the process,” attorney Kurt Panouses said. Fox13. “So that’s really what my recommendation is, is don’t sign the back of the ticket, just make a good copy of the back of the ticket, put it somewhere safe.”

The same advice is also given by the State Farm Insurance Company, which notes that you should not sign your ticket because “in some cases, signing your ticket may prevent you from creating a blind trust later.”

Try not to share the news

While a life-changing lottery win easily becomes one of the most exciting things in life, experts also advise against sharing the news publicly.

“Other than a spouse or life partner, I wouldn’t tell anyone about your good fortune until I created a solid plan with the professionals,” Laura Adams, author of Money Girl’s Clever Moves to Get RichTold Today. “Well-meaning friends and family may not offer you the best financial advice.”

State Farm also advises against sharing the information with anyone. “Some lotteries will ask you to make your name public, give interviews or show up at a press conference. If so, be sure to change your phone number and set up a new PO box beforehand to avoid being inundated with requests,” the company advises. “You can also consider forming a blind trust through your attorney to receive the money anonymously, keeping your name out of the spotlight .”

Consult a financial advisor, lawyer and accountant

After making several copies and placing a winning ticket in a safe place, perhaps the most important thing for lottery winners to do is to form a team of trusted advisors, consisting of financial advisers, lawyers and of accountants.

“You are going to need a lawyer, accountant and financial adviser who have experience with big financial windfalls – finding them should be one of your first steps before claiming your money,” says State Farm.

According to experts, winners should seek help from financial experts regarding their choices regarding their prize, as Powerball notes that jackpot winnings can be paid out either as a reduced lump sum payment or as an annuity on 29 years or 30 payments.

“Long-term investments require financial wisdom and restraint, but with careful planning, you may be able to increase your lump sum earnings more than future annuity payments would have been. However, if you need structural help to avoid spending too quickly, an annual payment is a solid and responsible way to ensure that you will continue to have an income for most of your adult life,” notes State Farm.

Financial advisers can also advise on taxes and help winners plan their overall goals for their newfound wealth, while lawyers can advise winners on their rights when it comes to remaining anonymous.

Set a budget and avoid giving money to loved ones

While it may seem appealing to start spending millions of dollars on vacations or luxury homes, the best thing lottery winners can do is create a budget.

“Realize this is not a bottomless money pit. Don’t spend too much thinking it will last forever,” Edelman said. Today. “A financial adviser can tell you how much income you can receive monthly from your earnings – you have to live on that amount or less.”

However, that doesn’t mean you can’t splurge, like Erica Sandberg, personal finance expert and author of Waiting for Money: The Essential Financial Plan for New and Growing Familiestold the outlet that it was all about “balance.”

“Set a budget, but also allow yourself dream purchases. It’s a balance,” she said.

The reminder is particularly important given that “lottery winners are more likely to file for bankruptcy within three to five years than the average American,” according to CNBC.

In addition to a budget, lottery winners should also avoid lending money to loved ones or anyone who comes looking for it, as William R Patterson, President and CEO of Baron said. SolutionGroup. Today it is “one of the fastest ways to lose your money”.

“Don’t feel pressured to bail out, reward, loan or give lump sums of money to friends and family,” he said. “Discuss with your financial advisors strategies and vehicles, such as trusts, that can help you help others and also preserve your wealth. In addition, cash and other gifts can have significant tax consequences.

Wednesday’s Powerball numbers will be drawn at 10:59 p.m. ET and will also be streamed live online at Powerball.com. If there is no winner in tonight’s draw, the jackpot will continue to grow, with the next draw taking place on Saturday.

Powerball drawings are broadcast live every Monday, Wednesday and Saturday at 10:59 p.m. ET from the Florida Lottery drawing studio in Tallahassee, according to Powerball.

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Is the Bendigo & Adelaide Bank Ltd share price good value? https://www.ibooklinux.net/is-the-bendigo-adelaide-bank-ltd-share-price-good-value/ Sun, 30 Oct 2022 02:09:33 +0000 https://www.ibooklinux.net/is-the-bendigo-adelaide-bank-ltd-share-price-good-value/ With the BEN share price are trading around $8.98, are Bendigo & Adelaide Bank Ltd (ASX: BEN) Sharing today, tomorrow or next month is as good as a guess. However, over the longer term, stocks with a consistent track record of earnings, dividends and/or cash flow will often return to their underlying price target for […]]]>
With the BEN share price are trading around $8.98, are Bendigo & Adelaide Bank Ltd (ASX: BEN) Sharing today, tomorrow or next month is as good as a guess. However, over the longer term, stocks with a consistent track record of earnings, dividends and/or cash flow will often return to their underlying price target for analysts.

Bendigo and Adelaide Bank, more commonly known as Bendigo Bank, was created following the merger of Bendigo and Adelaide Banks in November 2007 (at the height of the credit markets!). BEN operates primarily in the retail banking sector through a network of over 500 “community branches” and agencies. These are usually found along the east coast and South Australia.

Is the Bendigo & Adelaide Bank Ltd share price good value?

what’s going on inside

For long-term investors looking to invest in great companies and hold them for five, 10 or 20 years, at Rask we think it’s fair to say that a good workplace and a good staff can lead to better retention of high quality staff and, in turn, the long term financial success of a business.

One way for Australian investors to peek inside a company like Bendigo & Adelaide Bank Ltd or Macquarie Group Ltd is to use HR/jobs websites such as Look for. Seek’s website includes company human resources data, including things like employee reviews. According to the most recent data we pulled on BEN, for example, the overall workplace culture rating of 3/5 was underneath the industry average of 3.71.

Watch those (net) margins

ASX bank stocks such as BEN need debt and good profit margins to make their business profitable. This means that a bank receives money from term deposit holders and wholesale debt investors and lends that money to homeowners, businesses and investors. The difference between what a bank is pay to savers and what made of mortgage holders (for example) is the net interest margin or NIM. Remember: when it comes to NIMs, the wider the margin, the better.

If you plan to estimate the profits of a bank like BEN or Bank of Queensland Limited (ASX: BOQ), it is important to know how much money the bank lends and what it earns per dollar lent to borrowers. This is why the NIM is arguably the most important measure of BEN’s profitability. Across major banking stocks on the ASX, we calculated the average NIM to be 1.92%, while Bendigo & Adelaide Bank Ltd’s lending margin was 2.3%, meaning the bank produced a betterabove-average return on lending money to customers compared to its peers.

The reason analysts are studying the NIM so closely is that Bendigo & Adelaide Bank Ltd earned 85% of its total income (income-related) from loans alone last year.

Return on equity (ROE)

Return on equity or simply “ROE” helps you compare a bank’s profit to its total equity as shown on its balance sheet. The highest the RE the best. Bendigo & Adelaide Bank Ltd’s ROE over the last full year was 8.6%, meaning that for every $100 of bank equity it produced $8.60 in annual profit . This figure was lower than the industry average of 11.33%.

The capital of BEN’s relief bank

For Australian banks, the CET1 ratio (aka “common equity tier one”) is essential. CET1 represents the bank’s capital buffer that can help protect against financial collapse. According to our figures, Bendigo & Adelaide Bank Ltd had a CET1 ratio of 9.4%. It was below the industry average and not as much as the commonly accepted “unquestionably strong” level of 10%.

BEN dividend valuation – some tips for bank stocks

A Dividend Discount Model or DDM is one of the most effective ways to create a rough estimate of ASX bank stocks. To do a DDM, we need to arrive at an estimate of the bank’s future dividends (i.e. the next dividend for the full year) and then apply a risk rating. Assume that BEN’s dividend payment increases at a constant rate each year in the future, somewhere between 2% and 3%. We will use multiple risk rates (between 6% and 11%) and then average the valuations.

According to this quick and easy DDM model, a BEN stock valuation is $9.26. However, using an “adjusted” or expected dividend payment of $0.54 per share, which is the preferred metric because it uses expected dividends, the valuation jumps to $9.18. The valuation compares to the current BEN stock price of $8.98. Since the company’s dividends are fully franked, we can make an additional adjustment and make a valuation based on a “gross” dividend payment. Using gross dividend payments, which factors in franking credits, the valuation is estimated at $13.11.

Although BEN shares may appear to be decently valued right now based on this statistical method, please do not make a decision to buy or sell BEN shares based on this article. Consider reading at least two or three years of Bendigo & Adelaide Bank Ltd annual reports and then researching good investors and analysts who disagree with your view – it’s a reliable way to determine if you make a solid decision based on rigorous analysis. and counter-opinion. Finally, before going any further with BEN or MQG stocks, I suggest you get a copy of our free investment report.

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3 things military personnel and veterans need to know about their finances https://www.ibooklinux.net/3-things-military-personnel-and-veterans-need-to-know-about-their-finances/ Thu, 27 Oct 2022 14:04:52 +0000 https://www.ibooklinux.net/3-things-military-personnel-and-veterans-need-to-know-about-their-finances/ Military families are not without challenges when it comes to financial planning. However, veterans and active military members can establish, grow, and protect their long-term financial livelihoods, even in the face of frequent moves, deployments, or other uncertainties. Here are three steps you can take to ensure financial stability for you and your family. 1. […]]]>

Military families are not without challenges when it comes to financial planning. However, veterans and active military members can establish, grow, and protect their long-term financial livelihoods, even in the face of frequent moves, deployments, or other uncertainties.

Here are three steps you can take to ensure financial stability for you and your family.

1. Establish your finances

Arrange and clarify your documents and relationships. You must have a solid understanding of your financial, administrative and legal affairs and be able to quickly access up-to-date documents. You should also be aware of your bank or credit union’s active duty policies, as you will likely need to access your funds overseas or outside of traditional banking hours.

Create financial goals early. Once you know what financial goals you’re working towards, you can learn and apply strategies to manage money during deployment, create future savings, and avoid debt. By establishing a budget, you will have a good idea of ​​how much you can comfortably afford to spend on regular and irregular expenses while still having some money.

Learn the basics of credit. Your credit score and accompanying credit report show that you can manage your money responsibly, and it tells lenders how likely you are to pay off your loan obligations, such as a mortgage. Without good credit, it’s harder to save money, build financial security, or own a home. If you don’t have credit, there are several steps you can take to start building it.

2. Increase your finances

Once you have established a financial plan, the next step is to execute it. Managing your money wisely can help you save for your future so you can focus on service while maintaining financial security.

Here are some strategies that will prepare you for big purchases down the line:

  • Continuously putting money into savings.
  • Responsible use of credit and debit cards.
  • Use your military bonus wisely.

When you’re ready to make a big purchase, having money saved up, a higher credit score, and less debt will help you find more favorable loan terms.

If you feel financially ready to buy a home, there are several loan programs designed for military and veterans. This includes a VA home loan, an offer that helps make housing more affordable for eligible veterans.

If you have questions during the loan process that your lender cannot answer, you can contact Veterans Affairs through your local VA Loan Center. Find contact information for your regional loan center.

3. Protect your finances

Protecting what you’ve earned and what you’ve bought is a crucial step in your financial journey.

Save for emergencies and retirement. In an ideal world, you would aim to save 15% of your income each year in a retirement or other savings account. It is also important to set aside money each year in case of emergencies or additional expenses caused by a deployment.

Keep your insurance up to date. Make sure your home or tenant insurance policy is up to date in case you deploy, and let your insurance company know if your residence will be unoccupied while you’re away. You will want to have adequate coverage for your valuable personal property.

Beware of financial scams. Unfortunately, service members are prime targets for financial criminals trying to take advantage of your frequent moves. Learn to recognize and protect yourself from financial scams, including predatory lending, insurance and investment scams, identity theft and affinity fraud.

For more information and resources on budgeting for home ownership and for more details on the VA Home Loan Program, visit My Home by Freddie Mac®.

Military service member with children

Designed for active military members and veterans, the CreditSmart Military Financial Readiness Module is a financial education resource that can help you learn how to manage your money, avoid financial schemes that target military families, and understand the VA home loan.

Learn more

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