Debt Account – 4 Walls And A View http://4wallsandaview.com/ Sat, 15 Jan 2022 14:03:37 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://4wallsandaview.com/wp-content/uploads/2021/06/icon-5.png Debt Account – 4 Walls And A View http://4wallsandaview.com/ 32 32 Vacations? Flowers? Massage? How to save for what makes you feel good https://4wallsandaview.com/vacations-flowers-massage-how-to-save-for-what-makes-you-feel-good/ Sat, 15 Jan 2022 14:03:37 +0000 https://4wallsandaview.com/vacations-flowers-massage-how-to-save-for-what-makes-you-feel-good/ You probably know how to plan and save for big, boring expenses or financial needs. But what about fun stuff? Expenses that don’t put a roof over your head, but provide joy, rejuvenation, and other hard-to-quantify benefits, are also worth saving. In fact, they deserve their own account, says Delia Fernandez, a certified financial planner […]]]>

You probably know how to plan and save for big, boring expenses or financial needs. But what about fun stuff?

Expenses that don’t put a roof over your head, but provide joy, rejuvenation, and other hard-to-quantify benefits, are also worth saving.

In fact, they deserve their own account, says Delia Fernandez, a certified financial planner based in Los Alamitos, Calif.

“Find out what drives you, what makes it all interesting for you, and… set aside some money to make it happen,” she says.

What types of expenses are we talking about?

When it comes to wellness spending, each person has their own preferences, says Aja Evans, a New York-based financial therapist and licensed mental health counselor. For example, some people would find an intense cycling class to be energizing and confidence-building. Others prefer to do just about anything else.

Consider what goods, services, and activities generally bring you joy. Yes, your budget will determine exactly what you can afford. But for now, think. Fernandez asks, “What’s going to get you through these times? And what makes your life precious? What refreshes you; what inspires you?”

Some ideas: services like massages; products like fresh flowers; activities like holidays and date nights.

Why create a wellness account?

Allocating money to these types of expenses can help you be more intentional about your spending. For example, let’s say you put $25 from every paycheck into a vacation fund. With this money safely stashed away, you cannot mindlessly spend it on impulse purchases. You also protect this money from financial demands.

Let’s say you have up to $50 to spend each month on brunch with friends and you’ve already spent $35. This weekend, you might still love brunch, but skip the mimosa which would put you over the $15 you have left.

Ideally, this plan also covers any potential guilt of spending money on yourself. As Fernandez says, “You put it aside for that purpose.”

How can I balance this in my budget?

I hope you have been persuaded to indulge yourself in the new year. Plan those treats now.

One way to determine how much you can afford to spend is to apply the 50/30/20 rule to your monthly net income.

The goal of this budgeting method is to divide your money this way: 50% for needs, 30% for wants, and 20% for savings and debt repayment. Your new wellness fund would come from this “wants” category.

Here’s another approach: Start with your monthly after-tax income, then subtract all necessary expenses (needs), which include housing, food, transportation, basic utilities, insurance, childcare, and other expenses that allow you to work, as well as minimum loan repayments.

Next, subtract contributions to savings goals (like an emergency fund), as well as payments to retirement accounts and debts.

What’s left is your discretionary money. Decide how much you will regularly contribute to your new fund. “It could be $10. It could be $50. It could be $100,” Evans says. “The main point is that you actually put the money aside.”

Ideally, those contributions go directly from your paychecks to a new fund, Fernandez says. (Work with your employer to set up a new direct deposit.) If this method isn’t available, set up recurring automatic transfers from your daily check to the new account.

Where do I keep this money?

Fernandez recommends keeping this fund in an online savings account, on which you’ll likely earn interest.

Note that you are generally limited to six withdrawals or transfers per month from savings accounts before incurring any fees. This rule has been temporarily relaxed during the pandemic, but to avoid fees in the future, consider a savings account only for infrequent withdrawals. Use it for your monthly spa visit, for example. Or watch your savings grow as you collect money for a trip or a major purchase.

If you plan to use this fund more than six times a month, such as for frequent morning smoothies, opt for a checking account. Open it at a financial institution you don’t already use, so the new account isn’t too easy to use for day-to-day spending. Aim for a free account, with no monthly fees or minimum balance. A few of these checking accounts even earn a little interest.

Laura McMullen writes for NerdWallet.

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Navient lawsuit settlement: Over 400,000 student loans will get debt relief https://4wallsandaview.com/navient-lawsuit-settlement-over-400000-student-loans-will-get-debt-relief/ Thu, 13 Jan 2022 19:50:00 +0000 https://4wallsandaview.com/navient-lawsuit-settlement-over-400000-student-loans-will-get-debt-relief/ The agreement will settle lawsuits brought by several state attorneys general who claimed that Navient, one of the largest student loan service companies in the United States, engaged in unfair practices and made loans predators to students who were probably unable to repay them. Approximately 350,000 federal students borrowers that Navient placed on long-term forbearance […]]]>

The agreement will settle lawsuits brought by several state attorneys general who claimed that Navient, one of the largest student loan service companies in the United States, engaged in unfair practices and made loans predators to students who were probably unable to repay them.

Approximately 350,000 federal students borrowers that Navient placed on long-term forbearance – which allowed them to temporarily stop making payments – will receive approximately $260 each, totaling $95 million in compensation.

In addition, Navient must fully forgive the remaining private loan balances borrowed by approximately 66,000 students, totaling $1.7 billion. These loans were largely granted between 2002 and 2010.

“Navient knew that people were counting on their loans to improve their lives and the lives of their children and instead of helping them, they ran a multi-billion dollar scam,” Pennsylvania Attorney General Josh Shapiro said Thursday. during a press conference. He co-led litigation with the attorneys general of Washington, Illinois, Massachusetts and California.

State attorneys general have claimed Navient pushed federal borrowers for forbearance rather than ordering them to sign up for low-cost repayment plans. As a result, some of these borrowers got into debt as the interest accrued.

The lawsuit also alleges that Navient provided private loans to students attending for-profit schools and colleges with low graduation rates, even though it knew a high percentage of those borrowers would be unable to repay the loans.

Navient denied breaking any law in the colony.

“The company’s decision to resolve these matters, which were based on unsubstantiated allegations, allows us to avoid the additional burden, expense, time and distraction that prevails in court,” said the General Counsel. of Navient, Mark Heleen, in a statement.

Until recently, Navient had a contract with the US Department of Education to service federal student loans, but the company decided to end that contract late last year. Earlier this month, he transferred his federal student loan portfolio to a manager called Aidvantage. Navient continues to offer private student loans.

The settlement covers borrowers who live in 38 states and Washington, DC. Those who are eligible for relief under the settlement need not take any action and can expect to automatically receive notice from Navient later this year after the court approves the settlement. Federal borrowers can update or create an online account with the Department of Education to ensure the agency has their current address.
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PDVSA lines up appeal over $ 166 million debt ruling https://4wallsandaview.com/pdvsa-lines-up-appeal-over-166-million-debt-ruling/ Wed, 12 Jan 2022 00:36:00 +0000 https://4wallsandaview.com/pdvsa-lines-up-appeal-over-166-million-debt-ruling/ By Clark Mindock (Jan. 11, 2022, 7:36 p.m. EST) – The Venezuelan state oil company is appealing a New York federal court order requiring it to pay US manufacturer Dresser $ 166 million- Rand for missed loan payments, which the company previously said was impossible due to Trump-era sanctions. Petróleos de Venezuela SA filed a […]]]>
By Clark Mindock (Jan. 11, 2022, 7:36 p.m. EST) – The Venezuelan state oil company is appealing a New York federal court order requiring it to pay US manufacturer Dresser $ 166 million- Rand for missed loan payments, which the company previously said was impossible due to Trump-era sanctions.

Petróleos de Venezuela SA filed a notice announcing its intention to appeal the ruling on Friday, about a month after U.S. District Judge Louis L. Stanton said U.S. sanctions against Venezuela had not made reimbursement impossible. loans since Dresser-Rand granted extensions. and provided the company with information on the bank account where payments could be processed.

The public company had …

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These 4 metrics indicate that Vertoz Advertising (NSE: VERTOZ) is using debt reasonably well https://4wallsandaview.com/these-4-metrics-indicate-that-vertoz-advertising-nse-vertoz-is-using-debt-reasonably-well/ Mon, 10 Jan 2022 02:57:25 +0000 https://4wallsandaview.com/these-4-metrics-indicate-that-vertoz-advertising-nse-vertoz-is-using-debt-reasonably-well/ Legendary fund manager Li Lu (whom Charlie Munger supported) once said, “The biggest risk in investing is not price volatility, but the possibility that you will suffer a permanent loss of capital.” When we think about how risky a business is, we always like to look at its use of debt because debt overload can […]]]>

Legendary fund manager Li Lu (whom Charlie Munger supported) once said, “The biggest risk in investing is not price volatility, but the possibility that you will suffer a permanent loss of capital.” When we think about how risky a business is, we always like to look at its use of debt because debt overload can lead to bankruptcy. We can see that Vertoz Advertising Limited (NSE: VERTOZ) uses debt in its business. But does this debt worry shareholders?

What risk does debt entail?

Debt helps a business until the business struggles to repay it, either with new capital or with free cash flow. If things really go wrong, lenders can take over the business. However, a more common (but still painful) scenario is that he has to raise new equity at low cost, thereby constantly diluting shareholders. That said, the most common situation is where a business manages its debt reasonably well – and to its own advantage. The first step in examining a business’s debt levels is to consider its cash flow and debt together.

See our latest review for Vertoz Advertising

What is Vertoz Advertising’s debt?

The image below, which you can click for more details, shows that in September 2021, Vertoz Advertising was owed 123.1m in debt, up from ₹ 116.1m in a year. However, given that it has a cash reserve of 31.5 million euros, its net debt is less, at around 91.5 million euros.

History of debt on equity of NSEI: VERTOZ January 10, 2022

Is Vertoz Advertising’s balance sheet healthy?

According to the latest published balance sheet, Vertoz Advertising had liabilities of 232.9m at 12 months and liabilities of 28.0m ₹ due beyond 12 months. In return, he had 31.5 million in cash and 279.5 million in receivables due within 12 months. So he actually ₹ 50.1m Following liquid assets as total liabilities.

This surplus suggests that Vertoz Advertising has a conservative balance sheet, and could probably eliminate its debt without too much difficulty.

We measure a company’s indebtedness relative to its earning power by looking at its net debt divided by its earnings before interest, taxes, depreciation, and amortization (EBITDA) and calculating the ease with which its earnings before interest and taxes (EBIT ) covers its interests. costs (interest coverage). The advantage of this approach is that we take into account both the absolute amount of debt (with net debt versus EBITDA) and the actual interest charges associated with this debt (with its coverage rate). interests).

Vertoz Advertising has net debt of just 0.84 times EBITDA, indicating that he is certainly not a reckless borrower. And this view is underpinned by the strong interest coverage, with EBIT standing at 8.5 times last year’s interest expense. Even more impressively, Vertoz Advertising increased its EBIT by 1270% year over year. This boost will make it even easier to pay off debt in the future. When analyzing debt levels, the balance sheet is the obvious place to start. But it is the results of Vertoz Advertising that will influence the performance of the balance sheet in the future. So, when considering debt, it is really worth looking at the profit trend. Click here for an interactive snapshot.

Finally, a business can only repay its debts with hard cash, not with accounting profits. The logical step is therefore to examine the proportion of this EBIT that corresponds to the actual free cash flow. Over the past three years, Vertoz Advertising has spent a lot of money. While this may be the result of spending for growth, it makes debt much riskier.

Our point of view

The good news is that Vertoz Advertising’s demonstrated ability to increase EBIT thrills us like a fluffy puppy does a toddler. But we have to admit that its conversion from EBIT to free cash flow has the opposite effect. Looking at all of the above factors together, it seems to us that Vertoz Advertising can manage its debt quite comfortably. Of course, while this leverage can improve returns on equity, it comes with more risk, so it’s worth keeping an eye out for. There is no doubt that we learn the most about debt from the balance sheet. But at the end of the day, every business can contain risks that exist off the balance sheet. For example, we discovered 2 warning signs for Vertoz Advertising which you need to know before investing here.

At the end of the day, it’s often best to focus on businesses that don’t have net debt. You can access our special list of these companies (all with a history of profit growth). It’s free.

This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts using only unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative documents. Simply Wall St has no position in any of the stocks mentioned.


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Passing the debt on to the next generation https://4wallsandaview.com/passing-the-debt-on-to-the-next-generation/ Thu, 06 Jan 2022 11:31:14 +0000 https://4wallsandaview.com/passing-the-debt-on-to-the-next-generation/ Jung Hong-sangThe author, former executive director of the APEC Climate Center, is an instructor at the Korea Advanced Institute of Science and Technology (Kaist). As politicians make election promises, the budget grows in size. But there is no mention of how to raise funds. When public spending increases, it is the citizens who benefit, but […]]]>

Jung Hong-sang
The author, former executive director of the APEC Climate Center, is an instructor at the Korea Advanced Institute of Science and Technology (Kaist).

As politicians make election promises, the budget grows in size. But there is no mention of how to raise funds. When public spending increases, it is the citizens who benefit, but it is also the people who have to pay more. When the benefits increase, the costs are sure to increase. In Europe and the United States, when a project is developed, it should be clarified how to raise the money and what tax is increased and by how much.

There are only three ways to raise money for government spending: collect more taxes; reduce other expenses, such as social protection; and the issuance of government bonds. As our budget deficit is almost structural, an increase in public spending naturally increases our national debt. Nothing is free. The national debt will have to be paid someday by someone who pays more taxes. Until then, interest must be paid. It’s like borrowing money in the future.

Some say we don’t have to worry about the debt because Korea’s national debt is 50% of GDP, well below the OECD average of 110%. But a simple comparison is not appropriate here. To see the impression on people or the impact on the national economy, you have to compare on a per capita basis.

According to the Statistics Office, the total population is expected to increase from 52 million to 40 million by 2070. If the size of a household increases from five to four, the charge per person will increase by a quarter. Likewise, when the total population increases from 50 million to 40 million, the burden per person increases by a quarter.

Another factor is the structure of the population. To simplify the national economy, the economically active population between 15 and 64 years old supports citizens under 15 and over 64. This means that the national debt must be paid by the middle part of the population. However, since Korea is aging faster than in other OECD members, the working-age population is shrinking rapidly.

The total age dependency ratio refers to the sum of the young population (under 15) and the elderly relative to the working age population (65 and over). The ratio will drop from 40% in 2020 to 110% in 2070. As a result, the per capita burden of the working-age population is expected to increase by 56%.

Given the decline in population and structural factors, the national debt per capita is expected to increase 90 percent more than just the math. Second, Korea’s national debt is already close to the OECD average.

It is difficult to reduce public spending once it is increased. Thus, the national debt will gradually increase. As the aging of the population progresses, production will decrease, fewer taxes will be collected, and public spending on social protection and health care will increase, leading to rapid growth in the national debt.

In Britain, Germany and Japan the national debt more than doubled from the time they became aging societies. Korea also has the North Korean variable. In an emergency, considerable public expenditure is inevitable. But it’s unclear how much will be needed, as a contingent liability of a business. This is why we must leave room for the tampon.

When presidential candidates make campaign pledges, voters should ask how the funds will be raised. They should also consider whether it is realistic. Sweet pork barrel projects should be judged along with the bitter bill. We have to calculate how we would damage the ability of our next generation to seek happiness. It is shameful to rely habitually on future generations to alleviate the suffering of the present generation.

Translation by Korea JoongAng Daily staff.

Flanked by his campaign team, ruling Democratic Party (DP) presidential candidate Lee Jae-myung, former governor of Gyeonggi, offers ambitious plans to help small traders and the self-employed, including by issuing currencies and coupons worth 50 trillion won ($ 41.7 billion) for the general population in December. [LIM HYUN-DONG]

Flanked by his campaign team, ruling Democratic Party (DP) presidential candidate Lee Jae-myung, former governor of Gyeonggi, offers ambitious plans to help small traders and the self-employed, including by issuing currencies and coupons worth 50 trillion won ($ 41.7 billion) for the general population in December. [LIM HYUN-DONG]


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Is the Fed ready for another Minsky moment if the asset price bubble bursts? https://4wallsandaview.com/is-the-fed-ready-for-another-minsky-moment-if-the-asset-price-bubble-bursts/ Tue, 04 Jan 2022 15:50:00 +0000 https://4wallsandaview.com/is-the-fed-ready-for-another-minsky-moment-if-the-asset-price-bubble-bursts/ Text size People use an escalator outside a housing complex of Chinese real estate developer Evergrande, whose financial difficulties suggest that China’s real estate and credit growth pattern may be in decline. NOEL CELIS / AFP / Getty Images About the Author: Desmond Lachman is a senior fellow at the American Enterprise Institute. He was […]]]>

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Everything you need to know about credit scores https://4wallsandaview.com/everything-you-need-to-know-about-credit-scores/ Sat, 01 Jan 2022 00:04:27 +0000 https://4wallsandaview.com/everything-you-need-to-know-about-credit-scores/ DETROIT – Many people have had a credit card charge or know someone who has. Having large credit card debt can seriously damage your credit score. The average Michigander has $ 5,400 in credit card debt. This in itself is a problem. But what many of us don’t know is that the higher your credit […]]]>

DETROIT – Many people have had a credit card charge or know someone who has.

Having large credit card debt can seriously damage your credit score.

The average Michigander has $ 5,400 in credit card debt. This in itself is a problem. But what many of us don’t know is that the higher your credit score, the more damage you cause to your future ability to get a loan for important things like a mortgage or a car loan.

An average credit score for a Michigan resident is 706, which is quite good considering that the worst score is 300. A perfect score is 850.

Knowing your credit score is half the battle, says Beverly Harzog, US credit card expert.

A d

“Credit is intuitive,” Harzog said. “You really have to put in the effort to sit down and learn the basics, and then you can make your credit cards work for you instead of the other way around. “

Equifax, Experian, and Transunion are three credit bureaus that build your credit score by looking at your on-time payment record, credit usage, how long you’ve recently opened new lines of credit, and your debt composition. .

“Four in ten thought that a higher credit card balance would be a higher credit score, and the opposite is, in fact, true,” Harzog said. “You want to keep your ratio below 30%, and he really wants to boost your score quickly and keep it below 10%. “

On-time payments represent 35% of your score. Usage is 30%, the term of credit is 10%, new lines of credit 15%, and your credit mix is ​​10%.

Saying yes to that big box retailer credit card this year can hurt your credit score.

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“I want to warn people that with a retail card sometimes the APR is really high, so you have to take a look,” Harzog said. “Of course, I always say never to wear a scale.”

Harzog has this great advice to get you on your way to eliminating that debt and improving your credit score at the same time. Call your credit card company and ask when they report your information to the credit bureau to make two payments before that date, and you can see your credit score starting to improve.

Read: More financial reports

Copyright 2021 by WDIV ClickOnDetroit – All rights reserved.


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Mumbai could see 2,000 daily cases today, says Aaditya Thackeray https://4wallsandaview.com/mumbai-could-see-2000-daily-cases-today-says-aaditya-thackeray/ Thu, 30 Dec 2021 08:21:43 +0000 https://4wallsandaview.com/mumbai-could-see-2000-daily-cases-today-says-aaditya-thackeray/ Crowd at Gateway of India (Express Photo By Ganesh Shirsekar) The Maharashtra cabinet on Monday expressed concern over the increase in Covid-19 cases in the state and stressed the need to step up the pace of vaccination and effective measures to curb the spread of the coronavirus, including the new Omicron variant raises new concerns. […]]]>

Crowd at Gateway of India (Express Photo By Ganesh Shirsekar)

The Maharashtra cabinet on Monday expressed concern over the increase in Covid-19 cases in the state and stressed the need to step up the pace of vaccination and effective measures to curb the spread of the coronavirus, including the new Omicron variant raises new concerns.

The number of active cases has increased by almost 50% in the past 20 days, the cabinet said during its meeting. As of December 26, the state had 9,813 active cases of infectious disease. Chief Minister Uddhav Thackeray, who virtually joined the meeting held at Vidhan Bhavan in south Mumbai, has requested a meeting of the state task force on COVID-19 in a day or two to review the current situation coronaviruses.

Mumbai reported 809 Covid-19 cases and three deaths on Monday. bringing the tally in the metropolis to 7 71 921 and the toll to 16 373, said an official at the Brihanmumbai Municipal Corporation (BMC). The day’s addition was a drop from the 922 cases reported on Sunday, he said.

The number of recoveries rose to 7,48,199 after 335 people were released during the day, leaving Mumbai with 4,765 active cases, he said. With 43,383 samples examined in the past 24 hours, the number of tests in the nation’s financial capital has risen to 1,3492,241, according to BMC data.


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How to Budget for Inflation and Higher Prices – Forbes Advisor https://4wallsandaview.com/how-to-budget-for-inflation-and-higher-prices-forbes-advisor/ Tue, 28 Dec 2021 12:00:44 +0000 https://4wallsandaview.com/how-to-budget-for-inflation-and-higher-prices-forbes-advisor/ Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors. Inflation, or a prolonged period of rising prices, can dramatically reduce your budget. Most of 2021 saw inflation rise steadily, with the Consumer Price Index (CPI) rising 6.8% year-on-year in November. Higher […]]]>

Editorial Note: We earn a commission on partner links on Forbes Advisor. Commissions do not affect the opinions or ratings of our editors.

Inflation, or a prolonged period of rising prices, can dramatically reduce your budget. Most of 2021 saw inflation rise steadily, with the Consumer Price Index (CPI) rising 6.8% year-on-year in November.

Higher prices mean you may need to be more strategic in your spending to increase your income. Learning to budget for times of higher inflation can help you rethink how you spend and potentially find money to save.

1. Streamline your mortgage costs

If you own your home, your mortgage can be one of your biggest budget costs. When rising inflation comes along with falling interest rates, you may have the opportunity to save money by refinancing.

So how do you determine if refinancing makes sense?

First, think about what rates you’re likely to qualify for based on your credit scores and income. Then compare that to your current interest rate. A mortgage refinance calculator can help you easily calculate the numbers.

Next, think about how long you plan to stay in the house and how much you might have to pay in closing costs for a mortgage refinance loan. If you plan to stay in the house for at least long enough to break even, which means you are getting back what you pay for the closing costs in interest savings, it could make refinancing worthwhile.

If you can’t refinance your mortgage, here’s another way to save: Shop around for a better home insurance deal. Finding a cheaper policy could help cut your budget and save you money.

2. Reduce rates on other debts

In addition to a mortgage, you may be budgeting for debt on credit cards, student loans, or other lines of credit. Paying off debt, or at least making it cheaper, can help when prices go up.

If you have credit card debt, for example, you may want to consider a 0% APR balance transfer offer or a low-interest personal loan from your bank. A 0% balance transfer can give you time to pay off what you owe without interest. Personal loans, on the other hand, can help you consolidate high interest debt at a lower fixed rate.

Even with the student loan forbearance extended until May 1, 2022, you will also need to budget for these payments. Refinancing student loans could help you get a lower rate, making monthly payments more manageable. Keep in mind that refinancing federal loans to private loans means sacrificing certain benefits and protections, including coronavirus forbearance options and loan cancellation.

3. Perform an energy audit

Energy prices are one of the main drivers of inflation. When different sources of energy, including coal, natural gas, fuel oil and electricity, cost more, the cost of producing and transporting consumer goods also increases. The companies that produce or transport these goods then pass the higher prices on to consumers.

Budgeting for higher prices means taking into account how much energy you use in the home and finding ways to cut costs as much as possible. According to the US Department of Energy, here are some simple ways to reduce energy use at home or on the road:

  • Sealing air leaks around windows and doors
  • Have your HVAC system cleaned and maintained in the spring and fall
  • Use energy efficient light bulbs
  • Set your thermostat lower in winter and higher in summer
  • Unplug electronics when not in use
  • Properly inflate your tires
  • Carpooling to share fuel costs
  • Consolidation of car journeys and speed limits

These are just a few of the things you can do to potentially cut back on energy and fuel costs in order to put money back into your budget.

If you are struggling with higher energy prices, you may want to consider turning to the Low Income Home Energy Assistance Program (LIHEAP). This program provides eligible households with financial assistance to pay their heating and cooling bills.

4. Save on auto insurance

As mentioned, changing home insurance is a money-saving opportunity when budgeting for inflation and higher prices. But you might also want to rethink your other insurance coverages.

Here are some ways to save money on auto insurance, for example:

  • Increase your deductible, which could lower your monthly premium
  • Negotiate a Safe Driving Discount
  • Reduction of coverage, if applicable
  • Compare quotes and change auto insurance company for a better price

Best Auto Insurance Companies 2021

With so many options for auto insurance companies, it can be difficult to know where to start in finding the right auto insurance. We’ve evaluated insurers to find the best auto insurance companies, so you don’t have to.

5. Eliminate unnecessary subscriptions and fees

You may be wasting money every month on subscription or streaming services. According to JD Power, the average household has 4.5 streaming services and spends an average of $ 55 per month on them.

It might not seem like much, but $ 55 a month makes over $ 600 a year. If you’re trying to cut back on spending in the face of higher prices, giving up unused subscriptions can be a good place to start.

There are apps that can make it easier for you if you don’t have time to track down all of your subscriptions. Personal finance apps like Mint and Truebill connect to your bank and credit card accounts, find the subscriptions you’re paying for, and can help you cancel them if you decide you don’t need them anymore. or you don’t want it anymore. Some apps can even help you negotiate better deals on cable, internet, and cell phone services to save extra money or reduce what you pay for bank charges.

Speaking of bank charges, changing banks is another thing you might want to consider. On average, checking account fees can cost you $ 32 per month or almost $ 400 per year. So changing banks or finding a new checking account can be a good way to put money back into your budget when trying to offset inflation.

6. Shop smarter at the grocery store

Year over year, grocery prices increased 5.4% between October 2020 and October 2021. Feeding your family is not something you can ignore, so finding food is important. ways to budget for groceries wisely when prices go up.

Here are some money-saving tips to help you manage your grocery budget:

  • Trade in branded items for generic items as much as possible.
  • Buy in bulk if it allows you to purchase items at a lower unit price.
  • Incorporate more meatless meals into your family’s menu.
  • Use weekly grocery store flyers to plan budget meals.
  • Shop the local farmer’s markets if that’s an option where you live.
  • Incorporate more inexpensive staples into your meals, like pasta or rice.

You can also use budget apps to reduce your grocery expenses. With Ibotta, for example, you can earn money on your grocery purchases at partner stores. It can be a simple way to fight inflation and rising prices at the supermarket.

7. Make room in your budget to invest

For some people, times of rising prices may seem like the wrong time to invest. Why put money on the stock market when you face higher monthly costs?

Here’s a better way to think about it: Whether you’re investing for retirement or other goals, you need to maintain regular contributions no matter what happens in your financial life. After all, one of the reasons you invest in the first place is to fight inflation by maintaining and increasing the purchasing power of your savings over the long term.

That said, if your budget is under pressure, you may want to consider reducing your contributions in the short term. Just be sure to restore and possibly increase the contributions once the pressure is released.

There are investments specifically designed to help you beat inflation. Take Bonds I, a nearly risk-free investment that pays an annual interest rate of 7.12% until at least April 2022. When inflation rises, I bonds are designed to pay you more.

You may be able to supplement your income if you invest in dividend paying stocks. A dividend is a share of a company’s profits. Some SOEs actually profit from inflation because they are able to raise prices and earn larger profits, which could be passed on to you in the form of dividends.

8. Increase your income if possible

One of the biggest problems with inflation and rising prices is that incomes don’t increase as a result. While the Great Resignation of 2021 prompted some employers to raise workers’ wages, pay rates in the United States have remained largely stagnant for decades.

Finding ways to increase your income can make prolonged periods of inflation more manageable and easier to budget. Some of the possibilities for increasing income may include:

  • Sell ​​things you don’t need
  • Negotiate a salary increase with your current employer
  • Change jobs to pay better
  • Take a part-time job or a second job
  • Start a secondary activity
  • Starting a small business

Each option has its pros and cons, as well as its risks and benefits. But increasing your income can be one of the best ways to protect yourself and your budget against the impacts of inflation over time.

Final result

Inflation can make household budgeting more difficult, but it’s still important to stick to your spending plan as much as possible. When prices go up, you have the flexibility to revisit your budget and decide which expenses to prioritize and which you may be able to reduce or eliminate. The more fat you can reduce, the less stressful budgeting will be and the more money you will have to spare.


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Connect to g-secs with RBI Retail Direct https://4wallsandaview.com/connect-to-g-secs-with-rbi-retail-direct/ Sun, 26 Dec 2021 16:40:00 +0000 https://4wallsandaview.com/connect-to-g-secs-with-rbi-retail-direct/ For a long time, Indian retail investors looking for a steady income have not had access to the safest and most reliable option on the market – government security. Yes, most of the money you invest in insurance products, pension funds, and provident funds, and some of the money you invest in bank deposits and […]]]>

For a long time, Indian retail investors looking for a steady income have not had access to the safest and most reliable option on the market – government security.

Yes, most of the money you invest in insurance products, pension funds, and provident funds, and some of the money you invest in bank deposits and mutual funds is channeled to government debt securities (g-secs).

But this indirect ownership forces you to incur costs charged by these vehicles that eat away at your returns. Now, with the government allowing direct retail ownership, you can bypass these middlemen. Here’s a deep dive into RBI’s new Retail Direct platform for purchasing g-sec.

What it offers

This platform allows individuals to open and maintain a Retail Direct Gilt (RDG) account directly with the RBI.

To open your account you need a PAN card, savings account and an officially valid KYC document. NRIs eligible to invest in g-secs under FEMA can also open this account.

The onboarding process, which can be done entirely online, is not as straightforward as that of some new age fintech platforms. But it can be completed in a day or two if your KYC details are properly captured in the central repository.

G-sec can be purchased either upon initial issuance or after having started trading on the secondary market.

RBI’s Retail Direct platform first gives you access to primary auctions. To access secondary market transactions that occur on Negotiated Dealing System – Order Matching (NDS-OM), you must apply separately on Retail Direct to obtain a user ID and password.

RBI Retail Direct is not the only platform that allows you to participate in g-sec auctions. GoBID and NSE broker-owned platforms such as Zerodha Coin also provide such access and may be easier to integrate.

But the RBI platform stands out from the rest in terms of cost, as it does not charge any fees for account opening, maintenance, or transactions.

The RBI conducts periodic g-sec auctions on a schedule (called a borrowing schedule) that it publishes every six months for g-sec and quarterly for Treasury bills. With this new platform, retail investors can invest a minimum of 10,000 up to 2 crore in these auctions.

How auctions work

When you log into Retail Direct, you will find a dashboard listing the titles currently up for auction. They can be of four types – dated government stocks (central government loans for 1 year to 40 years), treasury bills or treasury bills (central government loans for 91, 182 and 364 days), development loans from the ‘State (state government loans for 1 to 30 years) and sovereign gold bonds.

There you will find details such as the type of security, its expiration date, the total auction amount, the amount reserved for retail auction (known as the “non-competitive” auction amount) and the reserve price and the yield.

RBI sets a maximum coupon rate or minimum price for each security in each auction and institutions bid on that basis.

The lowest coupon or highest price at which an auction is fully subscribed becomes the yield or cut-off price. As a retail investor, you don’t need to know how to bid and you can just choose at the final cut-off price or the yield that will be discovered by the institutions. The money is withdrawn in advance from your bank account based on the reserve price set by the RBI.

If the auction finds a lower price, the excess is refunded. To find out the cutoff price or returns, you can follow the auction results posted on the RBI website.

Once you get an allowance in the auction, all you need to do is hold your bond until it matures, when the RBI will automatically redeem it.

Treasury bills are issued below their face value and redeemed at face value, the difference being your interest. The other g-sec pay semi-annual interest to the cut-off yield.

While g-secs are re-listed on the NDS-OM platform, where you can sell or buy them in theory, the majority of them (with the exception of recent 10-year-old g-secs) are low. traded and you may not be able to sell when you choose. So when buying g-sec, match their maturity with your financial goal and don’t budget for cash before maturity.

How to use them

With fixed income options like bank deposits, postal programs, MNTs, and debt mutual funds already on the menu, where could g-sec fit into your portfolio?

Well, g-secs might be suitable for investors who prioritize safety and assured returns over attributes like liquidity and taxation. Small savings programs can achieve better results than direct g-secs in terms of yields because the government tends to offer them special rates despite receiving similar sovereign support.

Mutual funds invest in corporate bonds and are certainly not as safe as g-dry. But they score more g-sec on liquidity (you can sell your units at any time to the fund) and offer more user-friendly t.axation.

If held for more than 3 years, debt fund growth options allow you to earn interest and pay 20% long term capital gains after indexation advantages. Interest of g-secs is taxed each year at your slab rate.


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