Borrow money – R43DSFRS http://r43dsfrs.com/ Fri, 14 Jan 2022 05:17:22 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://r43dsfrs.com/wp-content/uploads/2021/07/icon-1.png Borrow money – R43DSFRS http://r43dsfrs.com/ 32 32 Digital loan apps are encouraging Nigerians to take on more debt, experts say https://r43dsfrs.com/digital-loan-apps-are-encouraging-nigerians-to-take-on-more-debt-experts-say/ Fri, 14 Jan 2022 05:17:22 +0000 https://r43dsfrs.com/digital-loan-apps-are-encouraging-nigerians-to-take-on-more-debt-experts-say/ More Nigerians will be in debt if loan apps continue their lending frenzy and nothing is done to reduce it Experts have predicted that the explosion of these apps will impoverish Nigerians through their method of loan recovery Others say the apps are helping Nigerians meet their immediate needs as banks are unavailable for personal […]]]>
  • More Nigerians will be in debt if loan apps continue their lending frenzy and nothing is done to reduce it
  • Experts have predicted that the explosion of these apps will impoverish Nigerians through their method of loan recovery
  • Others say the apps are helping Nigerians meet their immediate needs as banks are unavailable for personal loans

One of the success stories of the fintech revolution in Nigeria is the explosion of digital loan apps or personal loan apps.

Nigerians have never been so spoiled for choice when it comes to personal loans, which provide disposable income to cash-strapped people.

The elderly man watches intently as the middle-aged bank clerk helps him access the mobile banking app on his smartphone. Credit: Image Bank
Source: Getty Images

They are strewn all over the app stores, enticing users to take out one form of loan or another to meet their immediate financial needs.

Owolabi Jaiyeola, a financial expert, says it’s a double-edged sword.

Read also

Hunger virus: Has Buhari really done enough by Isreal Arogbonjo

He says

“While these apps are there to ask users to take out loans, the danger is that they are unauthorized and may exceed the interest rate approved by the Central Bank of Nigeria.”

At last count, more than 20 loan apps are in the Google Play Store.

These apps, in the absence of a well-structured ecosystem, rely on customer phone records to check their creditworthiness.

They do this by sifting through smartphone data, including call logs, contact lists, GPS data and texts, users can look beyond traditional banks to access credit.

But there is just one problem. There is growing evidence that easy access to fast digital loans is driving personal debt growth. And as lending apps jostle for market share and revenue from interest payments, there are concerns that they may inadvertently push users into debt and poor spending choices.

Read also

Shocked by excessive bank charges, Nigerians turn to digital banks and wallets

But, Ifeanyi Ekemeze, one of the operators, says digital lending apps fill huge gaps left open by traditional banks.

Emezie said the loan apps meet real needs. He asked how many times Nigerians have walked into a bank in Nigeria and asked for a loan of N50,000 and got it at the snap of a finger with no collateral.

If you as a parent are unable to raise your wards tuition quickly, loan applications come to your aid quickly rather than waiting for banks with complex bureaucracy and ultimately account, may not even grant you the loan, Ekemezie said.

Sell ​​our data?

Despite repeated assurances from apps that user data is protected, Jaiyeola believes that some of the apps fail to protect user data as they can be hacked by cyber criminals.

Before getting a loan, these apps ask you essential questions like filling in your debit card details, bank verification number (BVN) and other details, which gives them access to your bank statements.

Read also

Over N73 billion accidentally paid into bank customer accounts on Christmas Day

Experts say this trivializes user data and may result in it being used as a medium of exchange by some unscrupulous lenders, as was done by Facebook during the 2015 and 2016 Cambridge Analytica saga in which more than 87 million Facebook user data has been harvested for the purposes of ad targeting and vote buying in US and Nigerian elections.

The commodification of user data raises concerns about privacy and data ownership. The review begins to lead to partial crackdowns. Kenya passed new EU-inspired data protection laws and Nigeria simply ratified its own while Google recently announced it would ban loan apps that promote personal loans, which require a repayment in two months or less.

The spokesman for the Central Bank of Nigeria, Osita Nwanisiobi, did not return calls on his mobile phone or respond to messages sent to him asking whether the CBN was aware of these loan applications and what measures had been put in place to control abuse.

Read also

Find out how to play and win with NaijaBet

But a CBN directive to fintech operators is that they must be duly licensed.

In 2018, the CBN introduced a banking category which it calls Payment Services Bank (PSB).

A PSB is a bank that is authorized to, among other things, accept a deposit, provide payment and funds transfer services and also issue digital wallets. According to the guidelines, a PSB should operate in rural areas.

Additionally, the Nigerian Communications Commission regulates fintech businesses when they involve the use of mobile phones.

Collect our data?

Despite repeated assurances from apps that user data is protected, Jaiyeola believes that some of the apps fail to protect user data as they can be hacked by cyber criminals.

Before getting a loan, these apps ask you essential questions like filling in your debit card details, bank verification number (BVN) and other details, which gives them access to your bank statements.

Experts say this trivializes user data and may result in it being used as a medium of exchange by some unscrupulous lenders, as was done by Facebook during the 2015 and 2016 Cambridge Analytica saga in which more than 87 million Facebook user data has been harvested for the purposes of ad targeting and vote buying in US and Nigerian elections.

Read also

5 ways to win elections in Nigeria

The commodification of user data raises concerns about privacy and data ownership. The review begins to lead to partial crackdowns. Kenya passed new EU-inspired data protection laws and Nigeria simply ratified its own while Google recently announced it would ban loan apps that promote personal loans, which require a repayment in two months or less.

CBN Regulations

The spokesman for the Central Bank of Nigeria, Isaac Okoroafor, did not return calls on his mobile phone or respond to messages sent to him asking whether the CBN is aware of these loan applications and what measures. have been put in place to control abuse.

But a CBN directive to fintech operators is that they must be duly licensed.

In 2018, the CBN introduced a banking category which it calls Payment Services Bank (PSB).

A PSB is a bank that is authorized to, among other things, accept a deposit, provide payment and funds transfer services and also issue digital wallets. According to the guidelines, a PSB should operate in rural areas.

Read also

List of Private Lending Opportunities in Nigeria

Additionally, the Nigerian Communications Commission regulates fintech businesses when they involve the use of mobile phones.

Get a loan faster

Legit.ng reported that one of the main challenges in starting a business is capital. Prospective entrepreneurs are looking for companies that can provide them with an instant loan in Nigeria without collateral. Others might just be looking for a way to get cash before the next paycheck. Whatever the reason, sometimes you just need the money, and fast.

Our aim is to make this search easier for everyone by providing a list of loan applications available in Nigeria. Take a look and find the app that best suits your needs.

Whether you are looking for money to start your own business, buy a car, book a trip, or just have cash on hand, there is definitely a way for you to get an instant loan online in Nigeria.

Source: Legit.ng

]]>
Don’t you think you can create credit? You can — here’s how to start. https://r43dsfrs.com/dont-you-think-you-can-create-credit-you-can-heres-how-to-start/ Wed, 12 Jan 2022 10:01:00 +0000 https://r43dsfrs.com/dont-you-think-you-can-create-credit-you-can-heres-how-to-start/ Sooner than you think, your credit score will start to count. A good credit score can be the difference between qualifying for or missing out on a low-interest apartment or car loan. So, to get credit ready when you need it, now is the time to start building a good, long credit history. There is […]]]>

Sooner than you think, your credit score will start to count.

A good credit score can be the difference between qualifying for or missing out on a low-interest apartment or car loan. So, to get credit ready when you need it, now is the time to start building a good, long credit history.

There is more than one way to get credit, and it can be as simple as reporting your current bill payments to the major credit bureaus. But keep in mind: building credit takes diligence, especially since missing payments can hurt your score for years to come.

What is credit and why is it important?

Your credit score is a number that typically ranges from 300 to 850 and is calculated based on how reliably you have paid off your past debts, such as credit card bills. Lenders use your credit score to predict the likelihood of you paying off your debt.

Your credit score helps determine what loans you can receive, what interest you will be charged, what credit cards you can qualify for, and what properties you can rent. An employer can even check your credit history. Having a good credit rating can save you money down the road, mainly through lower interest rates when you get a loan.

If you are starting out with no credit history, you are not alone. In the United States, nearly 40% of people aged 20 to 24 have little or no credit history to generate a score, according to the Consumer Finance and Protection Bureau. Unfortunately, the same is true for around 20% of the population.

Building up your credit can seem overwhelming if you haven’t thought about it before, but there are plenty of strategies you can employ even if you’re just getting started. Start by establishing good debt management habits, such as not taking on more debt than you can afford, says Brittany Mollica, a certified financial planner based in Chapel Hill, North Carolina. Missed payments will damage your score and can become a burden when you need to borrow money in the future.

“It’s really important to have good habits to always pay your bills,” says Mollica. “You don’t want to have to come out of a hole with all kinds of credit card debt you’ve racked up, especially by starting early.”

You might like: It is possible to travel without a credit card, here are your options

Credit cards – and alternative cards

Credit cards can be a great tool for building credit, but they can also hurt your score if you take on more debt than you can handle.

If a parent or other trusted person in your life has a high credit limit and a long history of timely payments, you could become an authorized user on their account and benefit from their good credit. It’s one of the easiest ways to lengthen your credit history, says Blaine Thiederman, a certified financial planner in Arvada, Colorado.

Becoming an authorized user will also affect your credit utilization rate, or the amount of money you owe lenders divided by the total credit you have, which can improve your credit score.

If you have your own income, you can apply for a credit card at the age of 18; otherwise, you have to wait until you are 21. A secured credit card is usually the best credit card to start with. A cash deposit secures these cards, and because the credit card company may accept this deposit if you miss payments, people with short or poor credit histories may be eligible.

The deposit you need to make for a secured credit card could be a burden, and if so, another card could be better for you. These cards use income and bank account information to determine your creditworthiness rather than your credit score.

To verify: 6 Valuable Credit Card Lessons These Financial Planners Wish They’d Known When They Were Younger

Monthly invoices

If you live independently, payments for rent, utilities, and phone bills can all be reported to the credit bureaus. So paying those bills can boost your credit if they’re on time and you’ve reported them.

Unlike credit card payments, these payments are not flagged automatically and may require a third-party service, such as Experian EXPGY,
+ 0.34%
Boost, to notify the credit bureaus of your payments.

Keep in mind that these services sometimes require a fee and reporting your bill payments may not always affect your credit score; instead, they may just show up on your credit report.

Loans

Making regular loan payments can also help build your credit. And even if you don’t have a credit history, some loans are available.

Loans to credit builders rely on income rather than credit for approval. If you are approved, the loan is in a bank account and becomes available after you have paid it off. Your monthly payments are reported to the major credit bureaus.

Read more : “It’s a penalty for being poor”: Capital One reduced overdraft fees. Why not other banks?

Student loans are another loan that you can use to build your credit when you are starting out. Federal student loans do not require credit to qualify, unlike most private student loans. Paying off your loans will help boost your credit history, and you can get started while you’re still in school by making interest-only payments.

More from NerdWallet

Colin Beresford writes for NerdWallet. Email: cberesford@nerdwallet.com.

]]>
“No more work without pay”: travel agents in difficulty after numerous trip cancellations https://r43dsfrs.com/no-more-work-without-pay-travel-agents-in-difficulty-after-numerous-trip-cancellations/ Mon, 10 Jan 2022 09:00:31 +0000 https://r43dsfrs.com/no-more-work-without-pay-travel-agents-in-difficulty-after-numerous-trip-cancellations/ When the federal government banned flights from South Africa in response to Omicron, Kerwin Dougan took calls at odd hours to help his customers navigate a patchwork of travel bans and testing requirements COVID-19. Since then, he says, the situation for travel agents like him has only gotten worse. “Right now we’re just trying to […]]]>

When the federal government banned flights from South Africa in response to Omicron, Kerwin Dougan took calls at odd hours to help his customers navigate a patchwork of travel bans and testing requirements COVID-19.

Since then, he says, the situation for travel agents like him has only gotten worse.

“Right now we’re just trying to survive,” said Dougan, co-owner of Voyages G Travel in Gatineau, Que.

Dougan and other local travel agents told CBC Ottawa that after two lean years, a combination of vacation travel cancellations, travel rules and lackluster financial support is putting their businesses in jeopardy – just as the industry seemed to be recovering.

International travel partially rebounded in 2021, returning to about a quarter of pre-pandemic levels in October of last year, according to the most recent Statistics Canada data available.

However, the revival quickly reversed, as Omicron spread across the globe.

On December 15, Federal Health Minister Jean-Yves Duclos asked Canadians planning to travel abroad for the holidays to cancel their trip.

Dougan estimated his agency had lost nearly half of its bookings due to cancellations since the notice was published.

The federal government currently requires all international travelers over the age of five to show proof of a negative COVID-19 molecular test, among other requirements, to enter Canada.

Wendy Paradis, president of the Canadian Association of Travel Agencies, said these requirements, coupled with the global testing shortage, are a major deterrent for travelers.

“It will be a devastating winter,” said Paradis.

Ineligible for support

Dougan said he got used to the cancellations after two years, but this time around his company is unable to access federal support.

“They are not helping us,” he said. “It is essential.”

Most travel agents – around 80%, Dougan estimated – work on commission. This pay structure causes problems because it means travel agents often work up front so they won’t get paid when trips are canceled, said Judith Coates, president of the Association of Independent Travel Advisors.

“This means, again, more work without pay,” Coates said.

Kerwin Dougan said his travel company was “just trying to survive” the latest round of travel disruptions caused by COVID-19.

“Fell through the cracks of the net”

Eligible travel agencies could apply for wage and rental assistance under the tourism and hospitality stimulus program or the local foreclosure program, said Marie-Pier Baril, press secretary to Federal Tourism Minister Randy Boissonnault , in an email to CBC.

Independent travel agents, she added, may also be eligible for federal programs designed to support individuals, such as the Canadian Worker Lockdown Benefit, although several travel agents have told CBC they did not meet the requirements.

Coates said she started her association because she felt the needs of travel agents who work as sole proprietors, that is, they work alone rather than with a travel agency. , were not taken into account.

In previous waves of the pandemic, financial supports such as the now-canceled Canada Emergency Response Benefit were the only programs available to independent agents, Coates said. This forced them to pay their business expenses with money meant to “pay their rent and put food on their table,” she said.

Paradis said about 40 percent of travel agents in Canada are considered self-employed.

“There are a lot of freelancers out there who are really, really struggling,” said Paradis. “The self-employed have fallen through the cracks of the financial support system.

As for Dougan, he said he was forced to borrow money to keep Voyages G Travel open.

“We were starting to get back to it. Now we’re back on the shelf again,” he said. “You are alone.”

]]>
Braving all odds, Manipur women climb podium in national debut – The New Indian Express https://r43dsfrs.com/braving-all-odds-manipur-women-climb-podium-in-national-debut-the-new-indian-express/ Sat, 08 Jan 2022 16:59:00 +0000 https://r43dsfrs.com/braving-all-odds-manipur-women-climb-podium-in-national-debut-the-new-indian-express/ Express news service CHENNAI: Funding from the state association and friends has helped them compete in national championships, both junior and senior. Financial constraints, however, could not prevent them from finishing on the podium in both events. Meet Manipur rowers Th Priya Devi and H Tendenthoi Devi, who won the 2000m doubles couple silver medal […]]]>

Express news service

CHENNAI: Funding from the state association and friends has helped them compete in national championships, both junior and senior. Financial constraints, however, could not prevent them from finishing on the podium in both events.

Meet Manipur rowers Th Priya Devi and H Tendenthoi Devi, who won the 2000m doubles couple silver medal on their debut at the 39th National Senior Rowing Championships and 23rd Open Sprints in the Army Rowing Node, Pune. Only a month ago they won gold in the same event at the junior national championships.

Coming from modest families – Tendenthoi’s father, H Binoy Singh is a fisherman while Priya’s father, Th Somen Singh is a farmer – the duo started rowing just a few years after completing the breeding trials organized by the Manipur Rowing Association. .

“Sport for children here is a step towards a better future. Like others, Priya and Tendenthoi have also started rowing in the hope of securing government jobs so that they can contribute to the income of families,” Debit Singh, who trains around 130 children at Loktak Takmu Water. Moirang Sports Complex with Narengbam Lakshmi Devi, the daily said.

Singh claimed the resort is in a dilapidated state with children forced to live in dilapidated structures. “Rowing is an expensive sport. We can produce good rowers but we don’t have the equipment and the financial support. Even to come here and participate, we had to borrow money from friends and people. parents. The state government reimburses the amount but it takes time. “

Priya and Tendenthoi clocked 8: 39.6 seconds to finish second behind Avinash Kaur and Kiran, whose time was 8: 28.0 seconds. Deepika Xess and Reshma Kumari Minz took bronze with a time of 8: 54.8 seconds. The duo also competed in the 500m in couple doubles but missed out on a bronze medal in microseconds.

Both live in separate villages about 2-3 km from the center but have decided to stay in the resort to make sure they train regularly. “Traveling everyday will cost them so much that they prefer to stay at the resort. These kids could do a lot better if they had facilities. In just a few short years, Priya and Tendenthoi have won medals. If given the resources, they can improve dramatically and keep going. to represent the country, “signed the coach.

Meanwhile, the national championships wrapped up on Saturday with the 500m finals of various events in the men’s and women’s categories.

Gold medalists (500m)

Women: Pair: Sonali Swain and Ritu Kudi; Four without coxswain: Ashmita Karketta, Jharna Hasti, Deepika Xess and Manjula Xess; Couples in couple: Navneet Kaur; Two of couples: Avinash Kaur and Pooja.

Men: Pair: Punit Kumar and Gurmeet Singh; Two couples: Dushyant and Sukhmeet Singh; Two light couples: Arwinder Singh and Sunil Attry; Couples in couple: Parminder Singh; Coxless Four: Jasveer Singh, Bheem Singh, Nitish Kumar and Ashish; Paran men’s single scull: K Narayana

Two of mixed couple: Shagandeep Singh and Sanjukta Dung.

]]>
Education Committee discusses funding for Blount County schools | News https://r43dsfrs.com/education-committee-discusses-funding-for-blount-county-schools-news/ Fri, 07 Jan 2022 04:30:00 +0000 https://r43dsfrs.com/education-committee-discusses-funding-for-blount-county-schools-news/ As budget season approaches, the Blount County Education Committee discussed this week the possibility of increased funding for schools in the county. Blount County Commissioner Dodd Crowe reminded other committee commissioners that “Education” appears at the top of the county seal. “If Blount County is really putting education first, like Maryville and Alcoa, if we […]]]>

As budget season approaches, the Blount County Education Committee discussed this week the possibility of increased funding for schools in the county.

Blount County Commissioner Dodd Crowe reminded other committee commissioners that “Education” appears at the top of the county seal.

“If Blount County is really putting education first, like Maryville and Alcoa, if we are really making it a priority, we have to start now and say we want those pennies to be put there,” Crowe said. “Because if you wait for the meeting where we set the tax rate and fix the expenses, that doesn’t happen. It has already been built by a few people.

In previous meetings, Crowe has spoken of raising BCS to the state’s average per student spending level, but has struggled to identify that number with different sources calculating the number in various ways.

Commissioner Mike Akard pointed to other funding that may not be included in the per pupil expenditure figures.

“We are paying off a huge amount of school related debt, and if you don’t all understand that in the cost per student you are short selling the Blount County government,” Akard said, adding that the county had paid. . over $ 100 million in debt for school construction projects over the past eight years. “It’s money that we put into the schools when we built the schools. “

The Blount County Trustee’s Office website says 45% of the county’s property taxes go to education and 18% to debt for investment projects, over 90% of which is education-related.

“You have to remember that we are also paying off the debt of the city (the schools),” Crowe replied. “Every time we borrow money, we have to give them their share.”

By creating a separate capital improvements account that does not share revenue with Maryville and Alcoa schools, Fund 177, Crowe said the county has saved money by funding projects without borrowing.

Commissioner Robbie Bennett, Deputy Principal of Heritage High School, called Fund 177 a ‘game changer’ in helping BCS fund projects and Board of Education Chairman Robby Kirkland called it ” a boon “.

“We’re starting to reduce the problems, but we still don’t have our classrooms where they need to be for our kids,” School Board Member Debbie Sudhoff said, citing the classroom used for the arts as an example. culinary at Lycée du Patrimoine.

The County of Blount has the same property tax rate since fiscal year 2015-2016, or $ 2.47 per $ 100 of assessed value. Currently, 88 cents go to general county funding; 44 cents in debt service; 3 cents to general capital projects; 98 cents to schools, divided among schools in Blount County, Maryville City and Alcoa City; and 14 cents to BCS education capital projects.

During this week’s discussion Commissioner Brad Bowers said: “I have a strong belief that maybe we need to give the schools another dime or something.

Tap on sales tax?

While local schools have enjoyed higher than expected sales tax revenue in recent years, Kirkland suggested the county inject more sales tax revenue into the school system.

Kirkland said he would like BCS to make major progress on wages, noting that Knox County’s salary is now higher than that of Blount County. “We used to blow Knoxville,” he said.

Commissioner Dawn Reagan added to the discussion the state’s current effort to change its formula for funding schools. “In about three years you had better hang in there because anything can change… and I’m not sure that will change for the good,” she said.

Value

When other commissioners declined to compare BCS funding to other local districts, Reagan, a BCS teacher, said they were being compared in terms of results.

Sudhoff said BCS needs to better promote its achievements.

“There is a misconception in our community about the value of Blount County schools,” she said. “If you’re new to this community and looking for a place to live, what’s the first thing a real estate agent tells you? Maryville City Schools is awesome. Did they ever say Blount County schools are awesome? “

“We’re going to have to invest some money in marketing, promoting and changing the appeal of our brand, if you will, in this county and outside of this county,” she said. “We have a great school system. I am very proud that my children graduated from schools in Blount County.

]]>
Jefferson Hills stays on course on property taxes with new budget https://r43dsfrs.com/jefferson-hills-stays-on-course-on-property-taxes-with-new-budget/ Wed, 05 Jan 2022 02:45:10 +0000 https://r43dsfrs.com/jefferson-hills-stays-on-course-on-property-taxes-with-new-budget/ Jefferson Hills homeowners won’t have to dig deeper into their pockets to pay property taxes this year. The council adopted its 2022 budget and kept the mileage rate at 5.66 mills at a meeting in December. The tax rate includes 5.225 miles for general purposes, 0.355 miles for fire protection, and 0.079 miles for EMS. […]]]>

Jefferson Hills homeowners won’t have to dig deeper into their pockets to pay property taxes this year.

The council adopted its 2022 budget and kept the mileage rate at 5.66 mills at a meeting in December.

The tax rate includes 5.225 miles for general purposes, 0.355 miles for fire protection, and 0.079 miles for EMS.

Garbage and sewage charges also remain the same.

The projected income and expenses have been estimated at approximately $ 11.76 million.

Income includes approximately $ 5.1 million in property taxes, over $ 1.9 million in income taxes earned, $ 962,000 in service charges, $ 390,000 in licenses and permits, $ 331,000 in fees real estate transfer, $ 325,000 in sales taxes, $ 316,000 in intergovernmental revenues, $ 242,000 in local services tax, $ 82,000 in fines and confiscations and $ 21,000 in commercial tax.

The revenues also include approximately $ 1.85 million in federal funds from the American Rescue Plan Act. The council is still working on a plan to spend this money.

Expenses include $ 3.8 million for the police; $ 1.3 million for public works; $ 935,000 for finance and administration; $ 930,000 for sanitation and recycling; $ 702,800 for the fire department; EMS and emergency management; $ 578,200 for parks, recreation and the library; $ 373,000 for planning and zoning; $ 229,500 for the borough building, including supplies and maintenance; and $ 35,700 for the mayor and council.

Among the planned expenditures for finance and administration are $ 110,000 for legal services, $ 107,700 for a borough director and $ 91,600 for engineering.

The borough has allocated just over $ 2 million for capital projects, including $ 740,000 for road improvements, $ 200,000 for park improvements, $ 115,000 for stormwater management. , $ 155,000 for public works trucks, $ 125,600 for police vehicles and $ 50,000 for other police service improvements.

The vote was 6-1. Councilor Keith Reynolds disagreed.

Reynolds has said he is opposed to using more than $ 680,000 in reserve funds to balance the budget.

“We spent (money) off the reserve telling residents that taxes aren’t going up,” Reynolds said. “We cannot control our spending. All we’ve done is let these developers build houses wherever they want, but we’re spending all the money we have in the bank.

Dave Montgomery, vice chairman of the board and member of the finance committee, disagreed.

He said about $ 640,000 of reserves were budgeted for last year and overall expenses turned out to be about $ 800,000 under budget.

“We take money every year, and a lot of times we don’t spend it,” Montgomery said. “It’s a balancing mechanism. Last year we spent nothing (from the reserve). We are in shape. Our bond rating is higher than it has ever been, which is a good thing. If we had to borrow (money) it wouldn’t cost that much.

Montgomery also noted that the borough will not need to take a tax anticipation note. Such a financial note is a short-term loan that some municipalities and school districts acquire to dispose of cash before tax revenue begins to take effect.

“We had enough postponement to go at least until February,” Montgomery said. “It’s a long history of prudent management and oversight of all spending. The borough has grown and we have more real estate income than before. It is an important source of income, property taxes.

The budget is available for review at the Borough office as well as online at jeffersonhillsboro.org.

Michael DiVittorio is a writer for Tribune-Review. You can contact Michael at 412-871-2367, mdivittorio@triblive.com or via Twitter .

]]>
Economists anticipate slow deceleration in ECB bond buying stimulus https://r43dsfrs.com/economists-anticipate-slow-deceleration-in-ecb-bond-buying-stimulus/ Mon, 03 Jan 2022 05:02:13 +0000 https://r43dsfrs.com/economists-anticipate-slow-deceleration-in-ecb-bond-buying-stimulus/ Economists expect the European Central Bank to continue its net asset purchases for another two years – well after other major central banks have started cutting theirs – according to a Financial Times survey. Three-quarters of the 32 economists polled by the FT said they expected the ECB to stop expanding its bond portfolio by […]]]>

Economists expect the European Central Bank to continue its net asset purchases for another two years – well after other major central banks have started cutting theirs – according to a Financial Times survey.

Three-quarters of the 32 economists polled by the FT said they expected the ECB to stop expanding its bond portfolio by 4.6 billion euros in 2023; only just over a quarter said they thought he would do it before that.

Many central banks around the world have already started to cut their monetary stimulus measures in response to sharp increases in inflation as the global economy rebounds from the shock of the coronavirus pandemic.

The ECB has been slower than most; in December, its president Christine Lagarde said its € 1.85 billion pandemic response program would halt net bond purchases in March, while an older asset purchase program would suffer a reduction “step by step” until at least October. However, she did not specify when net asset purchases would come to a complete stop.

In contrast, the US Federal Reserve said last month it would step up its reduction in bond purchases to end in late March, while the Bank of England said after raising interest rates the month last that its net purchases would cease at the end of the year.

William De Vijlder, chief economist of the French bank BNP Paribas, was among those who predict that the ECB will continue its net purchases of bonds until 2023, with a complete reassessment of the outlook for ECB policy ”.

Inflation in the euro area soared to 4.9% in November, a record since the launch of the single currency more than two decades ago, driven by soaring energy prices, resurgent demand and supply chain bottlenecks.

Last year, the ECB agreed to a new strategy, pledging not to raise its deposit rate from the current low of minus 0.5% until it was convinced that inflation would hit its peak. target of 2% over the next two years and would stay there for an additional year. It also requires that core inflation, excluding energy and food prices, be “sufficiently advanced” to meet its target. He said asset purchases would stop shortly before raising rates.

More than half of economists polled by the FT said they expected the ECB to start raising its deposit rate by 2023. More than a quarter believed it would not do so until 2024.

Lena Komileva, chief economist at G + Economics, predicted that the ECB would stop buying bonds this year and hike rates by the end of 2023. Like several others, she warned of the risk of tightening the monetary policy too early – something the ECB was criticized for doing in 2011 when it hiked rates twice on the eve of the eurozone sovereign debt crisis.

“As the effects of each new pandemic wave on growth wear off and inflation likely peaked in late 2021, a political rush to withdraw fiscal and monetary support to private sector capital – industry, banking and business – in an ongoing pandemic is by far the greatest risk to the outlook, ”she said.

Almost four-fifths of economists predicted that the ECB would tighten policy this summer by making the rate less attractive on soft loans it gives to banks, known as longer-term targeted refinancing operations. These 2.2 billion euros in loans at rates as low as minus 1% provide banks with an easy source of profit by actually paying them to borrow money.

Economists were also divided on whether the EU’s new € 800 billion stimulus fund significantly reduced the chances of a eurozone bond market liquidation. The fund provides grants and loans from Brussels to member states to support their economic recovery in return for structural reforms.

“Peripheral spread levels are tight and volatility could increase as the ECB reduces its purchases,” said Alberto Gallo, portfolio manager at Algebris Investments, referring to the spread between the cost of borrowing of the weaker European periphery like Italy and those of more countries like Germany.

“In particular, we could see volatility around the French elections and potentially around the Italian elections,” he warned.

]]> 5 reasons why this Warren Buffett stock is still a buy https://r43dsfrs.com/5-reasons-why-this-warren-buffett-stock-is-still-a-buy/ Sat, 01 Jan 2022 11:33:00 +0000 https://r43dsfrs.com/5-reasons-why-this-warren-buffett-stock-is-still-a-buy/ NOTnot only is STORE Capital (NYSE: STOR) in Berkshire Hathaway‘s (NYSE: BRK.A)(NYSE: BRK.B) stock portfolio, but it is the alone the real estate investment trust (REIT) in which the conglomerate led by Warren Buffett has chosen to invest its own capital. STORE Capital significantly underperformed S&P 500 in 2021, with a total return of around […]]]>

NOTnot only is STORE Capital (NYSE: STOR) in Berkshire Hathaway‘s (NYSE: BRK.A)(NYSE: BRK.B) stock portfolio, but it is the alone the real estate investment trust (REIT) in which the conglomerate led by Warren Buffett has chosen to invest its own capital.

STORE Capital significantly underperformed S&P 500 in 2021, with a total return of around 6% for the year against 29% for the S&P 500 a few days of the year. In short, STORE has bounced back distinctly From its COVID-19-fueled decline at the end of 2020, many of the benefits of vaccines and the gradual easing of restrictions in the pandemic era were already being reflected at the start of the year.

However, despite the recent underperformance, I think STORE Capital is still a great stock to add to any portfolio for five main reasons.

Image source: Getty Images.

1. Massive market opportunity

STORE Capital owns nearly 2,800 properties and has a market capitalization of approximately $ 9.5 billion. While these numbers may sound like big (and they are), the company has enormous growth potential ahead of it. In fact, management estimates that the addressable market for net leasehold properties in its investment universe is approximately 2 million properties valued at approximately $ 3.9 trillion.

Now STORE will never get everything, but if it can even achieve 1% of its addressable opportunity, it would be over seven times its current size.

2. Excellent growth economy

STORE Capital is rather aggressive in its growth strategy. Considering its size, investing $ 1 billion to acquire properties in the first nine months of 2021 is a fairly rapid rate of growth.

However, if you consider the economics of STORE Capital, this makes sense. The average initial capitalization rate (operating income as a percentage of cost) on the STORE acquisitions in 2021 was 7.7%. Meanwhile, the average interest rate paid by STORE Capital on debt issued in 2021 is only 2.8%. This is an extremely attractive spread.

3. Excellent evaluation

Based on the midpoint of STORE Capital’s 2021 operating funds forecast (FFO), the stock is trading around 17 times which is essentially the real estate version of “earnings”. Meanwhile, the average S&P 500 stock is trading for a price / earnings multiple of around 30. Not only is STORE Capital growing fast, it’s cheap.

4. A growing income stream

Like most REITs, STORE Capital is designed to be a total return investment. So far we’ve been talking about growth, but the company is paying a generous dividend as well. At the current share price, STORE Capital reports a little over 4.4% per year and has increased its dividend every year since its IPO in November 2014. Thus, in addition to the probable increase in the price of its shares over time, STORE generates a significant and growing revenue stream for its investors.

5. Huge total return potential

I mentioned that STORE Capital went public in 2014 and has generated an impressive 13.7% annualized total return for investors since then, but it doesn’t exactly have a long history to analyze.

However, there are large REITs with similar business models that have been around for decades, and the total returns have been outstanding. Real estate income (NYSE: O) and National Retail Properties (NYSE: NNN) are two with comparable models that have generated total returns of 2,560% and 1,450%, respectively, over the past 25 years. Compare that with the 909% total return of the S&P 500 over the same time period.

Invest for the long term

REITs are designed to be long term investments, and STORE Capital is no exception. While I am convinced that STORE Capital has a good chance of being a great dividend-beating market share to hold for the long term, I have absolutely no idea what it will do in the weeks, months or even. over the next year. or two. But if you are measuring the returns on your investments over longer intervals (say, five years or more), STORE Capital could be a great addition to your portfolio.

10 stocks we prefer at STORE Capital
When our award-winning team of analysts have stock advice, it can pay off to listen. After all, the newsletter they’ve been running for over a decade, Motley Fool Equity Advisor, has tripled the market. *

They just revealed what they think are the top ten stocks investors can buy right now … and STORE Capital was not one of them! That’s right – they think these 10 stocks are even better buys.

See the 10 actions

* Returns of the portfolio advisor as of December 16, 2021

Matthew Frankel, CFP® owns Berkshire Hathaway (B shares), Realty Income and STORE Capital. The Motley Fool owns and recommends Berkshire Hathaway (B shares). The Motley Fool recommends STORE Capital and recommends the following options: long January 2023 calls of $ 200 on Berkshire Hathaway (B shares), short January 2023 $ 200 put on Berkshire Hathaway (B shares) and short January 2023 calls of $ 265 on Berkshire Hathaway (B shares). The Motley Fool has a disclosure policy.

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

]]>
Why XRP, Cardano, Chainlink, and Crypto.com are down today https://r43dsfrs.com/why-xrp-cardano-chainlink-and-crypto-com-are-down-today/ Tue, 28 Dec 2021 23:08:24 +0000 https://r43dsfrs.com/why-xrp-cardano-chainlink-and-crypto-com-are-down-today/ What happened Altcoins had a rough day that started late Monday night and continued through Tuesday. Major cryptocurrencies were the declining leaders, but smaller coins amplified the losses of larger market cap coins in trading on Tuesday. XRP (CRYPTO: XRP) declined 8.3% in the last 24 hours, Cardano (CRYPTO: ADA) decreased by 7.7%, Chain link […]]]>

What happened

Altcoins had a rough day that started late Monday night and continued through Tuesday. Major cryptocurrencies were the declining leaders, but smaller coins amplified the losses of larger market cap coins in trading on Tuesday.

XRP (CRYPTO: XRP) declined 8.3% in the last 24 hours, Cardano (CRYPTO: ADA) decreased by 7.7%, Chain link (CRYPTO: LINK) fell 12.4%, and Crypto.com coin (CRYPTO: CRO) is down 10.3%, to name a few. There are a few things that could impact trading today.

Image source: Getty Images.

So what

The first notable item is that all cryptocurrencies are down which can lead to a cascading decline in the market. Coinglass.com reports that $ 521 million worth of long crypto transactions were liquidated on 164,115 accounts in the past 24 hours. The sale began on Monday when $ 418.5 million in long positions was liquidated, so the liquidation appears to be picking up steam on Tuesday.

It may not seem important, but when traders borrow money on margin to take a long position (bet that an asset will go up in value) or a short position (bet that an asset will lose value) ), they may be forced to sell immediately if they lose too much money. Brokers and exchanges require that a certain percentage of an account be held in cash or the value of a security, so these positions can be liquidated if there is too much leverage in a portfolio.

The last time cryptocurrencies fell so quickly was on December 2-3, when more than $ 2 billion worth of crypto was liquidated on various exchanges. In the days following that crash, cryptocurrencies stabilized, but today’s sell-off pushed some to prices close to lows of a month ago.

Now what

Given the lack of real news to boost the cryptocurrency market, I would highlight today’s shift to normal volatility. This week the trading volume is generally lower in the market and this can lead to some weird moves. In crypto, there are a lot of traders who have a lot of influence and this can lead to the type of closeouts I pointed out above, triggering a quick sell off.

As the market returns to more normal trading in early 2022, I think it’s important to see more people using crypto as a utility product, whether it’s NFTs or decentralized financial products.

I think the cryptocurrencies that can build the best ecosystems will ultimately be the winners for investors. XRP, Cardano, Chainlink, and Crypto.com are all building their own take on a cryptocurrency ecosystem and that’s why investors have been bullish on them. In the long term, it is these ecosystems, and not the volatility of a few days of trading, that investors need to focus on, which is why today’s big move should be ignored in the long term.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

]]>
Credit Card Debt: How To Balance The Accounts In 2022 | Personal Finances | Finance https://r43dsfrs.com/credit-card-debt-how-to-balance-the-accounts-in-2022-personal-finances-finance/ Mon, 27 Dec 2021 08:25:55 +0000 https://r43dsfrs.com/credit-card-debt-how-to-balance-the-accounts-in-2022-personal-finances-finance/ The pressure to spend more during the holiday season can see the finances of many Britons stretched to the limit. Many may have tapped into their overdrafts as they struggle to afford the extra luxuries often expected during the Christmas season. Express.co.uk spoke with an expert to find the best ways to help you sort […]]]>

The pressure to spend more during the holiday season can see the finances of many Britons stretched to the limit. Many may have tapped into their overdrafts as they struggle to afford the extra luxuries often expected during the Christmas season. Express.co.uk spoke with an expert to find the best ways to help you sort out your finances as 2022 approaches.

Analyze the additional funds you may have

Aseem Munshi, founder of the financial app Updraft, told Express.co.uk that if you have savings or have funds available in your checking account, you can use them to write off your debt.

He said, “This is because the interest rate you pay on your credit card is likely to be higher than any interest you make on your savings.

If you don’t have any savings, he recommended that Brits look at their budgets to see where they could be saving money.

These savings can then help you reduce your credit card borrowing.

READ MORE: Universal Credit Applicant Can Claim 50% Off Train Tickets

Balance transfer cards can also be used to help you manage your debt.

These cards usually charge very low or zero interest rates on the debt transferred for a set period of time. Usually it can be up to a year.

This gives you time to pay off what you owe the bank without accruing interest.

But make sure you make regular repayments or you risk getting into more debt.

Not all credit card debt is bad

While being in debt is never a good thing, if you use your overdraft responsibly, you could increase your credit score, which could help you in the future.

Mr. Munshi said, “Not all credit card debt is bad.

“Having a history of being able to handle loans is good for your credit score, which is important for things like getting a mortgage.

“Credit cards also offer protections on certain purchases you make if a retailer goes into administrative proceedings or if the item you buy is defective – all good things.”

But he urges Britons to use credit cards with caution and make sure they pay off their overdrafts every month.

Credit card loans can easily add up because they often have high interest rates.

This means that having your credit card overdraft can be a very expensive form of borrowing.

If you don’t have a steady monthly income or have been in debt in the past, you may be better off avoiding using credit cards.

Opt for debit cards instead, as you won’t be tempted to borrow money that you may not be able to pay back on time.

]]>