Travel Expenses – Corfulinas Travel http://corfulinastravel.com/ Thu, 22 Sep 2022 10:33:29 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://corfulinastravel.com/wp-content/uploads/2021/06/icon-5-150x150.png Travel Expenses – Corfulinas Travel http://corfulinastravel.com/ 32 32 Popular Uses of Personal Loans | Accelerate lending https://corfulinastravel.com/popular-uses-of-personal-loans-accelerate-lending/ Wed, 21 Sep 2022 23:12:07 +0000 https://corfulinastravel.com/popular-uses-of-personal-loans-accelerate-lending/ Good reasons to use a personal loan You can use funds from a personal loan to pay for anything. But some of the best uses include paying off credit card debt, covering unexpected financial emergencies, or financing the cost of home repairs. Here are some of the most common reasons for using a personal loan. […]]]>

Good reasons to use a personal loan

You can use funds from a personal loan to pay for anything. But some of the best uses include paying off credit card debt, covering unexpected financial emergencies, or financing the cost of home repairs.

Here are some of the most common reasons for using a personal loan.

Debt Consolidation

Debt Consolidation is one of the most popular uses of personal loans. It’s no surprise: many credit cards charge interest rates of 19% or more. If you’re racking up thousands of dollars in credit card debt, those high interest rates can skyrocket the amount you owe each month.

This is where personal loans can help. You can take out a personal loan and use the money from it to pay off your high-interest credit card debt. You will then repay your personal loan in regular monthly installments.

It’s a smart financial move if you can get a lower interest rate on your personal loan than you’re paying on your credit card debt. Suppose your credit card charges you an interest rate of 18.99%. If you qualify for a personal loan with an interest rate of 10.3%, you can save a significant amount of interest by swapping your higher rate credit card debt for a personal loan.

Just make sure you don’t run up debt on your credit card again. This will leave you in an even worse financial situation, as you will now have a personal loan to pay off in addition to your new credit card debt.

Home improvements

You need to finance minor repairs or improvements to your home, but you don’t have enough equity to qualify for a home equity loan Where cash refinance? A unsecured personal loan can help.

Many homeowners turn to home equity loans or cash refinances to cover the cost of expensive home repairs or upgrades. But to take out one of these loans, you will need sufficient equity in your home. If your home is worth $250,000 and you owe $100,000 on your mortgage, you have $150,000 of equity to borrow against in the form of one of these types of loans.

But what if you just bought your home and haven’t accumulated enough capital? Or what if you have no equity in your home? If your home is worth $250,000 and you owe $245,000 on your mortgage, you may not have enough equity to take out a home equity loan or cash refinance.

Instead, however, you can apply for an unsecured personal loan. An unsecured loan is one in which you do not put up any collateral. In a home equity loan, your home is your collateral. If you don’t repay your loan, your lender can take foreclosure action against you and possibly take your home.

With an unsecured loan, your lender has no collateral to take if you stop making your payments. This makes these loans riskier, which is why lenders usually charge them higher interest rates.

You can, however, use a personal loan to pay for small to medium-sized repairs and improvements to your home. Your interest rate will be higher than with a home equity loan or cash refinance. But these are options if you don’t have enough equity.

Moving expenses

Moving to a new home is not cheap. ConsumerAffairs estimates that it costs between $600 and $1,000 to hire movers for a local move, a move from one location in your state to another. Moving to another state, however, can be more expensive: ConsumerAffairs estimates that it costs an average of $5,000 for a move that crosses state lines. The costs of such a move can climb to $10,000, according to the publication.

It can be difficult to pay for these expenses out of pocket. A personal loan can give you the money you need to meet moving expenses such as hire professional moversbuying packing supplies, renting a moving truck or buying new furniture.

Unexpected bills

No one likes unexpected expenses. And when these expenses are unavoidable emergencies? They are even more unwelcome.

Those unexpected bills are another reason people turn to personal loans. Taking out a loan with an 11% interest rate is a better choice for paying off unexpected emergencies than putting those surprise expenses on a credit card that charges 19% interest.

Some of the unexpected expenses you could cover with a personal loan include:

  • Medical bills
  • Car repairs
  • Funeral expenses
  • Job Loss
  • Unexpected trip

Major purchases

Need to make a big purchase, like new furniture for your apartment or a new computer for your freelance career? A personal loan might be a better option than putting that big expense on a high-rate credit card. interest rate. A personal loan is also a better choice than emptying your savings account to pay for a major purchase. If you deplete your savings, you are vulnerable if you face unexpected expenses.

Vehicle financing

If you need to buy a car and your credit rating is too low to qualify for a traditional car loan, a personal loan can help. Since personal loans charge higher interest rates than car loans, you can usually qualify with a lower credit score.

However, using a personal loan may limit the type of car you can purchase. Personal loans tend to have lower limits than traditional car loans, which limits the cost of your new car.

Wedding expenses

The average cost of a wedding reached $28,000 in 2021, according to Knot’s Real Weddings study. That’s a lot of money. If you need help paying for that DJ, caterer, dress, and reception hall, a personal loan could help.

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Biden saying pandemic is ‘over’ may jeopardize student debt relief, Covid Cash https://corfulinastravel.com/biden-saying-pandemic-is-over-may-jeopardize-student-debt-relief-covid-cash/ Mon, 19 Sep 2022 11:20:00 +0000 https://corfulinastravel.com/biden-saying-pandemic-is-over-may-jeopardize-student-debt-relief-covid-cash/ Biden declared the pandemic “over” during a 60 Minutes interview, potentially jeopardizing two of his main goals. Republicans and Democrats are in a months-long standoff over covid testing funds. Republicans can also seize on Biden’s remarks to challenge his efforts to deliver student debt relief. Loading Something is loading. Financial assistance for millions of Americans […]]]>
  • Biden declared the pandemic “over” during a 60 Minutes interview, potentially jeopardizing two of his main goals.
  • Republicans and Democrats are in a months-long standoff over covid testing funds.
  • Republicans can also seize on Biden’s remarks to challenge his efforts to deliver student debt relief.

Financial assistance for millions of Americans hinges on COVID-19 existing as a national emergency — and President Joe Biden just declared it “over.” This could threaten student debt relief and future coronavirus health funding.

In an interview with “60 Minutes” that aired Sunday on CBS News, Biden all but said the worst of the COVID-19 pandemic was behind Americans more than two years after the economy’s initial shutdown.

“We still have a problem with covid,” he said. “We are still working on it a lot, but the pandemic is over.”

Remarks suggesting the emergency is over may jeopardize the Biden administration’s dual goals of student debt relief and coronavirus aid.

The White House has struggled to secure more funding for COVID-19 testing and vaccines due to fierce Republican opposition. Its efforts to secure at least $22 billion in additional coronavirus aid have been stalled for more than six months, and it is unlikely to be included in any short-term funding bill that will pass into law. by the end of September and intended to keep government open until December. .

“It already seemed pretty unlikely that Congress would fund vaccinations, testing, and treatment, and now it’s even less likely,” Larry Levitt, executive vice president of health policy at the Kaiser Family Foundation, told AFP. Insider. “It’s hard to go to Congress and say you need emergency funding, when you’re suggesting there’s no more urgency.”

Additionally, the Biden administration is set to renew a 90-day public health emergency declaration in mid-October at least once more. This designation has enabled approximately 16 million low-income Americans to obtain health insurance through Medicaid over the past two years. But Republicans will likely increase pressure on the White House to lift it, arguing it’s time for the United States to get back to normal.

Some Republicans seize the opportunity to castigate the White House. Part of Biden’s legal justification for providing $10,000 in student debt relief per borrower hinges on the ongoing pandemic. “Emergency powers, vaccination mandates and requests for COVID funding should be rescinded TODAY!” Rep. Jim Banks of Ohio wrote on Twitter Monday.

“Joe Biden last night was the Republicans’ best messenger,” a senior Senate GOP official told Insider on condition of anonymity to speak candidly. “He admitted what we’ve been saying for a while that COVID is over.”

“The President’s comments last night kind of reinforced what a lot of Senate Republicans believe, which is that there is no COVID emergency and there is no need for billions in additional spending. “said the Republican aide, adding that it could also strengthen the case for a future lawsuit to block the Biden administration from providing student debt relief.

Top Senate Republicans have begun expressing even more skepticism about the Biden administration’s demand for more money. “If it’s over, I wouldn’t suspect they need more money,” Sen. John Cornyn of Texas told CNN’s Manu Raju.

The White House did not respond to a request for comment.

The Biden administration has said it has the authority to implement its one-time $20,000 loan forgiveness policy under the HEROES Act of 2003, which gives the education secretary the ability to waive or to change student loan balances in the context of a national emergency, such as COVID-19[FEMININE[FEMININE

That legal framework involved rescinding a memo from former President Donald Trump’s Education Department that concluded the authority did not exist to write off broader student debt, his Secretary of State. education Betsy DeVos declaring that this decision was “100% illegal”.

While Republican lawmakers argued that Biden’s action was an excess of that authority, the president saying the pandemic was over was all some of them needed to back up their claims that this broad cancellation of the debt is illegal.

But some proponents of debt relief don’t quite see it that way. Persis Yu, counsel at the Student Borrower Protection Center, told Insider that the authority for debt relief under the HEROES Act is likely still valid because Americans are still recovering financially from the pandemic.

“The HEROES Act gives the administration sweeping authority to mitigate hardship that federal student loan recipients may experience due to national emergencies,” Yu said. “The economic effects of the pandemic are still being felt by millions of borrowers, many of whom have lost their jobs or may be feeling the effects of a long COVID.”

There may be other legal options for administration even outside of this pandemic emergency framework. Yu added that the power to enact general relief also exists under the Higher Education Act, which gives the education secretary the ability to compromise or waive balances. It is also a provision that the Legal Services Center at Harvard Law School notified Senator Elizabeth Warren in defense of blanket debt forgiveness.

The Ministry of Education did not immediately respond to Insider’s request for comment, but Bharat Ramamurti, the deputy director of the National Economic Council, previously told reporters that “legal authority gives the secretary the ability to ensure that the pandemic and the emergency do not cause net financial harm to these people.”

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LendingClub: Why $1,400 is a “new” emergency expense https://corfulinastravel.com/lendingclub-why-1400-is-a-new-emergency-expense/ Wed, 14 Sep 2022 08:01:18 +0000 https://corfulinastravel.com/lendingclub-why-1400-is-a-new-emergency-expense/ For years, $400 served as a shorthand for the precarious state of the American consumer’s financial health, whether they could afford to meet an unexpected emergency expense. The number has been firmly entrenched in the discussion of this country’s finances, including in the annual economic well-being reports released each year by the Federal Reserve. Now […]]]>

For years, $400 served as a shorthand for the precarious state of the American consumer’s financial health, whether they could afford to meet an unexpected emergency expense.

The number has been firmly entrenched in the discussion of this country’s finances, including in the annual economic well-being reports released each year by the Federal Reserve.

Now that seems a long way off.

About $1,000.

The way Anuj Nayar, head of financial health at LendingClub, said he sees it, that number falls woefully short of the reality we face today. It turns out, as found in joint research by his company and PYMNTS, that unplanned emergencies actually cost consumers an average of $1,400.

Hopelessly obsolete

Nayar noted that inflation these days has driven up the cost of all sorts of expenses to the point where even buying a replacement tire or two – to fix a common puncture – can easily cost several hundred. of dollars. A visit to the emergency room can cost thousands of dollars.

It’s now well established that the paycheck-to-paycheck economy encompasses about 60% of individuals, all of whom have little or nothing to save once they’ve paid the bills each month.

Read more: Study: 29% of consumers usually renew their credit card balances

More consumers than ever are poised to meet those expenses without too much difficulty — and slip into the realm of the fight to make the monthly nut. This emergency spending could serve as a tipping point, Nayar said.

Savings cushions are quickly depleted, where just paying for gas and food becomes an ongoing and growing challenge. No less than 13% of consumers have, in recent months, spent more money than they have received (equivalent to 33.5 million consumers).

“The only way to bridge that gap is to use credit or dip into savings, and that pushes you further into the paycheck-to-paycheck environment…Any additional bump in the road can push you into that category,” he said. said.

In the current environment, he said, more than half of consumers use cash to pay for emergency expenses, and about 23% use credit (but still pay off balances in full each month). But another 18% use the card and transfer it to a long-term revolving credit balance.

“It’s hard to deal with all of this when your savings rates go down and the rates on credit card debt go up,” Nayar said.

Read more: Paycheck-to-paycheck consumers are 3 times more likely to incur credit card debt

And while there are signs that inflation may be peaking, anyone can guess how the next few months (and the all-important holiday shopping season) will play out.

Regardless of the inflationary image, here are some silver linings. FinTechs and platforms (LendingClub among them) can help individuals regain a certain financial balance and move towards better financial health. Turning debt into installment loans, Nayar offered as an example available on his company’s platform, may be a more palatable (and affordable) option than opting to continue paying high-interest revolving fees.

“Technology is being used as a way to help our members and ordinary Americans get back on a path where they can start rebuilding the cushion to save,” Nayar said, adding “people don’t need to keep turning to the same old solutions they’ve been using for decades.

New PYMNTS Study: How Consumers Use Digital Banks

A PYMNTS survey of 2,124 US consumers shows that while two-thirds of consumers have used FinTechs for some aspect of banking, only 9.3% call them their primary bank.

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

Learn more

https://www.pymnts.com/subscriptions/2022/average-subscriber-has-canceled-1-of-5-subscriptions-since-october/partial/

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China has provided billions in secret ’emergency loans’ to vulnerable countries https://corfulinastravel.com/china-has-provided-billions-in-secret-emergency-loans-to-vulnerable-countries/ Mon, 12 Sep 2022 19:16:00 +0000 https://corfulinastravel.com/china-has-provided-billions-in-secret-emergency-loans-to-vulnerable-countries/ In recent years, China has disbursed tens of billions in opaque ’emergency loans’ to at-risk countries, indicating a shift towards providing short-term emergency loans rather than infrastructure loans. longer term. Since 2017, Beijing has provided $32.8 billion in group emergency loans to Sri Lanka, Pakistan and Argentina, according to AidData, a William & Mary University […]]]>

In recent years, China has disbursed tens of billions in opaque ’emergency loans’ to at-risk countries, indicating a shift towards providing short-term emergency loans rather than infrastructure loans. longer term.

Since 2017, Beijing has provided $32.8 billion in group emergency loans to Sri Lanka, Pakistan and Argentina, according to AidData, a William & Mary University research lab that focuses on activities. global financing from China.

China has also offered emergency loans to Eastern European countries, Ukraine and Belarus; South American countries, Venezuela and Ecuador; the African nations of Kenya and Angola; alongside Laos, Egypt and Mongolia. China’s overseas lending and credit relationships remain “unusually opaque”, according to World Bank researchers. “Chinese lenders demand strict confidentiality from their debtors and do not publish granular breakdowns of their loans,” they wrote.

But the researchers found that the bulk of Chinese lending abroad – about 60% – is now going to low-income countries that are currently mired in over-indebtedness or at high risk. Beijing’s pivot to short-term bailout loans highlights its growing role as an emergency lender of last resort, making it an alternative to the Western-backed International Monetary Fund (IMF).

Experts worry about what’s next, as many countries that have borrowed from China are facing an extraordinary debt crisis in an era of inflation and climate change. For example, a Pakistani official said last week that the epic floods that covered most of the South Asian country will cost more than $10 billion.

Secret loans

Beijing’s emergency loans to at-risk countries were aimed at avoiding defaults on infrastructure loans issued through the BRI, according to a FinancialTimes report.

“Beijing has tried to keep these countries afloat by providing emergency loan after emergency loan without asking its borrowers to restore economic policy discipline or pursue debt relief through a coordinated restructuring process. with all major creditors,” said Bradley Parks, chief executive of AidData. FT.

Emerging economies in Asia, Africa and the Middle East are struggling to repay their BRI loans. The COVID-19 pandemic and Russia’s war on Ukraine have exacerbated these countries’ food and fuel shortages and balance-of-payments crises. Nearly 70% of the world’s poorest countries will distribute 52.8 billion dollars this year to repay their debts, of which more than a quarter will go to China.

This means that China has become the most important official player in global sovereign debt renegotiations, according to World Bank researchers. But because Chinese lenders demand strict confidentiality from their debtors and do not publish a granular breakdown of their loans, there is a gaping knowledge gap about what happens to Chinese claims in the event of over-indebtedness and default. of payment, they wrote.

IMF Alternative

Gabriel Sterne, a former IMF economist and current head of global emerging markets and strategy research at Oxford Economics, told the FT that China’s emergency loans only “delay the day of reckoning” for indebted countries that might seek Chinese loans and avoid the IMF, the latter “demanding painful reform”.

Over the past two weeks, China and the IMF have signed or moved closer to bailout deals for Sri Lanka, Pakistan and other countries. Beijing, meanwhile, has pledged to cancel 23 interest-free loans to 17 African countries and will redirect $10 billion of its IMF reserves to the continent.

There are now signs that the IMF is pushing for full transparency from vulnerable nations to receive funding. AidData’s Parks told the South China Morning Post last month that the IMF pressured borrowers to disclose details of their BIS loan contract.

The IMF has “focused on cash collateral clauses in BIS loan contracts that give China a senior claim on foreign currencies in borrowing countries,” Parks said.

Some countries are already complying with the stricter lending conditions. Pakistan, for example, has “shared details with the IMF…in consultation with the Chinese side,” said Muhammad Faisal, a researcher at the Institute for Strategic Studies in Islamabad. SCMP.

Yet World Bank researchers predict that China’s appetite for overseas financing, lending and debt relief is likely to decline as Chinese lenders come under pressure at home and abroad. ‘foreign. Emerging economies risk a “sudden halt” in Chinese lending, which could have “substantial” ripple effects around the world.

[This report was updated to include a final paragraph on World Bank researchers’ predictions.]

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Suze Orman now says you need a lot of emergency savings (and psst: you’re probably not going to like it) https://corfulinastravel.com/suze-orman-now-says-you-need-a-lot-of-emergency-savings-and-psst-youre-probably-not-going-to-like-it/ Sat, 10 Sep 2022 13:58:00 +0000 https://corfulinastravel.com/suze-orman-now-says-you-need-a-lot-of-emergency-savings-and-psst-youre-probably-not-going-to-like-it/ Author and financial guru Suze Orman Anna Webber/Getty Images Financial experts have always urged people to set up an emergency savings fund, but the exact amount that should be in that fund has never been cut and dry. Recently, Suze Orman revised her advice on how much you need in an emergency fund to cover […]]]>

Author and financial guru Suze Orman

Anna Webber/Getty Images

Financial experts have always urged people to set up an emergency savings fund, but the exact amount that should be in that fund has never been cut and dry. Recently, Suze Orman revised her advice on how much you need in an emergency fund to cover between 8 and 12 months, to 12 months of expenses. The reason? A potential recession looms on the horizon, she said. “You know that I hope you will strive to have enough reserve to cover 12 months of essential living expenses. And you also know that I realize that it may take time. Each month you get closer to your (new) goal is a month to celebrate your progress.You can see the best rates you can get on savings accounts here.

If this number gave you the feeling of “yikes”, you are probably not alone. A 2021 survey released by Bankrate found that more than half of Americans don’t have even three months of spending in an emergency fund. So, some pros say it’s okay to aim for less than 12 months of spending.

“If we could just get people to accumulate 3 months of net net income, we could save a lot of people from disaster,” says certified financial planner Craig Carnick of Transform Wealth, who adds that this 12-month goal can be especially difficult for those with large debts such as student loans.

And Alvin Carlos, Certified Financial Planner at District Capital Management, says 12 months is excessive for most people. “It may only be appropriate if you are looking to change careers and expect to be unemployed for a few months. Five to six months is usually enough as an emergency fund,” says Carlos.

You can see the best rates you can get on savings accounts here.

Of course, 12 months of after-tax net income is fine in an emergency reserve, but Carnick says what can be even more important is creating a plan to deal with the savings situation, along with an analysis. fast cash flow to prioritize what can reasonably be done.

Your age, marital status and career play a role in determining how much emergency savings you personally need. Certified Financial Planner Curtis Crossland of Suttle Crossland Wealth Advisors says if you’re retired or about to retire, you want to have between 12 and 18 months of living expenses set aside. “The goal with this amount is to buy time for markets to recover or economic conditions to improve and allow you to avoid having to touch investments,” says Crossland.

Married couples still in their careers want between 3 and 6 months of savings, but likely closer to 6 if the income is unbalanced, Crossland says. “You can get to a point where you have a lot more cash than is required in an emergency fund and that will weigh on your overall portfolio. Everyone has different circumstances and needs, so I normally don’t agree with 12 months coverage for everyone,” says Crossland.

You can see the best rates you can get on savings accounts here.

If you’re wondering where or how to start building an emergency fund, Orman says, “I recommend that you take the time to go through your bank and credit card statements for the past three months and re-estimate your basic monthly needs. living costs.” Carnick says going back three months can make sense because it means you should be able to cover expenses that aren’t billed monthly, like quarterly insurance payments. Plus, looking over a longer time frame will also catch expenses that are anything but regular, like car repairs, coinsurance, dental visits, and major purchases.In our practice, we actually ask clients to come back a year back,” says Carnick.

When calculating essential living expenses like mortgage, food, utilities, insurance, health care, and whatever else is necessary to keep you and your family in your current physical condition, it is Also important is to catalog your non-essential expenses like dining out, entertainment, clothing, and travel, but not so you can cut them. “The most effective way to build up cash reserves is to eliminate high-interest debt from credit cards or old college loans. Certainly eliminating unnecessary non-essential expenses like a new TV 65 inches would make sense,” says Carnick.

As for the time frame in which you need to be sure to have squandered significant savings, Orman predicts that a recession is likely and therefore precipitates an urgent need for emergency savings. “If you manage to increase your savings, don’t delay. The risk of us sliding into a recession in the coming months has increased with the Federal Reserve’s latest decision. »

You can see the best rates you can get on savings accounts here.

Crossland also says a recession is a legitimate concern. “Any time you encounter high inflation and economic growth metrics fall, you worry that you’re already in a recession and waiting for lagging data to confirm it,” Crossland says.

Of course, no one can guarantee whether or not we’re sliding into a recession, but, if we do, says Carnick, “individuals should do exactly the same thing as if a recession were nowhere in the horizon and the first step is to create a comprehensive financial plan.

Any advice, recommendations, or rankings expressed in this article are those of MarketWatch Picks, and have not been reviewed or endorsed by our business partners.

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Deer Impact Emergency Loans https://corfulinastravel.com/deer-impact-emergency-loans/ Thu, 08 Sep 2022 22:03:13 +0000 https://corfulinastravel.com/deer-impact-emergency-loans/ Thursday, September 8, 2022 By press release HDOA press release The Hawaii Department of Agriculture (HDOA) will open an emergency loan program to help farmers with costs associated with axis deer overpopulation on Maui, Molokai and Lanai). At an August 23 meeting, the Hawaii Board of Agriculture (Board) approved the application for an emergency loan […]]]>

Thursday, September 8, 2022 By press release

HDOA press release

The Hawaii Department of Agriculture (HDOA) will open an emergency loan program to help farmers with costs associated with axis deer overpopulation on Maui, Molokai and Lanai). At an August 23 meeting, the Hawaii Board of Agriculture (Board) approved the application for an emergency loan program by the Agricultural Lending Division. Applications will be accepted from September 1 to December 31.

In March 2022, Governor Ige issued a proclamation declaring a state of emergency in Maui County due to drought conditions. Additional proclamations extended the relief period to September 20. Emergency proclamations include provisions for the relief of damage, loss and suffering caused by Axis deer, which have decimated agricultural crops and pastures as they migrate to seek water and feed. The estimated axis deer population in the county is at least 60,000.

“Prolonged drought conditions have exacerbated problems associated with overpopulation of axis deer in Maui County,” said Phyllis Shimabukuro-Geiser, chair of the Hawaii Board of Agriculture. “Low-interest emergency loans offer some relief to farmers and ranchers in dealing with their losses and help with the cost of fencing and other mitigation measures.”

The Board approved the following emergency loan amounts, terms and parameters. The maximum loan amount is $150,000, with terms to be determined on a case-by-case basis, as needed. Consideration will be based on historical farm performance and projected cash flows based on reasonable revenue and expense assumptions. The interest rate for the loans is three percent. The denial of credit requirement will be waived for loans of $100,000 or less. Loans over $100,000 up to the $150,000 limit will require a credit rejection. (Credit rejections from conventional lenders are generally required for non-emergency government loan programs). The three-year residency requirement for U.S. citizens and permanent resident aliens does not apply. Warranty requirements may be changed or waived, if necessary, on a case-by-case basis. As far as possible, the provisions of article 155-11, Guarantee of loans, must be followed.

For agribusinesses and farmers needing loans of $50,000 or less, micro-loans involving less paperwork and faster processing are also available.

For more information, contact the Agricultural Lending Division in Honolulu at
808-973-9460 or email hdoa.agloan@hawaii.gov.

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Cabinet offers up to 10 billion euros in emergency loans to help stabilize the electricity market | New https://corfulinastravel.com/cabinet-offers-up-to-10-billion-euros-in-emergency-loans-to-help-stabilize-the-electricity-market-new/ Sun, 04 Sep 2022 14:12:54 +0000 https://corfulinastravel.com/cabinet-offers-up-to-10-billion-euros-in-emergency-loans-to-help-stabilize-the-electricity-market-new/ Prime Minister Sanna Marin (SDP) said the Stability Bill would be presented to Parliament on Monday. Image: Henrietta Hassinen / Yle, graffiti: Samuli Huttunen / Yle On Sunday, the Finnish government announced emergency funding of up to 10 billion euros aimed at stabilizing the electricity market. Funding should be provided in the form of loans […]]]>

Prime Minister Sanna Marin (SDP) said the Stability Bill would be presented to Parliament on Monday.

Image: Henrietta Hassinen / Yle, graffiti: Samuli Huttunen / Yle

On Sunday, the Finnish government announced emergency funding of up to 10 billion euros aimed at stabilizing the electricity market. Funding should be provided in the form of loans and loan guarantees, not grants.

Prime Minister Sanna Marin (SDP) made the announcement, flanked by the Minister of Finance Annika Saarikko (Cen) and Minister of Economic Affairs Mika Lintila (Cen).

The firm met at the House of Estates on Sunday afternoon to negotiate the funding and began a press conference shortly after 5 p.m.

The article continues after the photo

PM Sanna Marin (SDP) addressed reporters on Sunday. Image: Petteri Sopanen / Yle

Marin said the bill would be presented to parliament on Monday.

The proposed loan and guarantee program would run until the end of 2023, with loan periods of up to 2 years. Loans should be granted on market terms, the government said.

The program is intended as a financing option of last resort for companies that would otherwise be threatened with insolvency.

The emergency funding was discussed during budget talks last week and again by leaders of the five ruling parties on Saturday, when the Swedish government announced similar emergency funding.

Saarikko commented on Twitter on Saturday evening that preparations for the financial package were already well advanced.

“A set of measures for the cash management risks of power generation companies will be presented to parliament shortly,” Saarikko wrote.

No “free money”

At Sunday’s press conference, Saarikko said the state would not offer “free money” but rather loans and loan guarantees with “extremely strict conditions” that would only be used last. recourse to ensure liquidity.

The Minister of Finance stressed that the objective of these measures was to ensure security of supply and to strengthen energy self-sufficiency in Finland.

“Our goal is to avoid a major crisis,” she said, noting that some public services could eventually risk collapsing due to a lack of cash. However, she said it was impossible to predict when the worst-case situation might be reached.

Saarikko urged the EU to take collective action on the matter as soon as possible. She said she and Lintilä would raise the issue at EU ministerial meetings this week.

Marin said the government has already asked the European Commission to intervene in structural issues related to the future of the electricity market.

“We expect the Commission to respond to this problem. Finland cannot handle this alone,” the Prime Minister said.

In response to a question, Lintilä said the funding would only be available to Finnish companies, not, for example, Fortum’s German, majority state-owned subsidiary Uniper.

Saarikko said each company’s situation and needs would be reviewed on a case-by-case basis. She said the firm had not set a maximum amount that would be available to a single company.

Saarikko pointed out that many of Finland’s energy utilities are partly or wholly owned by local municipalities, so the repercussions of financial difficulties could be significant.

The finance minister added that the government had floated the idea of ​​a “windfall tax” on rapidly rising profits for energy companies benefiting from phenomena for which they were not responsible. However, ministers decided it was unclear whether this would have the desired outcome in the current and volatile situation, she said.

On Sunday, the German government said it would use windfall tax revenues to drive down consumer energy prices.

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Minimum amount of cash to have in an emergency fund https://corfulinastravel.com/minimum-amount-of-cash-to-have-in-an-emergency-fund/ Thu, 01 Sep 2022 14:30:28 +0000 https://corfulinastravel.com/minimum-amount-of-cash-to-have-in-an-emergency-fund/ Setting aside at least $400 in savings has long been recommended as an initial savings goal by personal finance experts. Indeed, for years, $400 has been a benchmark emergency expense used in the Federal Reserve’s annual survey of household economics. However, this amount “has not kept up with the reality of the cost of these […]]]>

Setting aside at least $400 in savings has long been recommended as an initial savings goal by personal finance experts. Indeed, for years, $400 has been a benchmark emergency expense used in the Federal Reserve’s annual survey of household economics.

However, this amount “has not kept up with the reality of the cost of these emergency expenses”, explains Anuj Nayar, head of financial health at LendingClub.

The average cost of an unplanned expense has risen to around $1,400, according to a new survey from financial services firm LendingClub and financial news site PYMNTS.

For that reason, aiming for a minimum of $1,400 in emergency savings is probably a more useful starting goal than $400, Nayar says. From there, financial planners generally recommend saving enough to cover three to six months of expenses.

Emergency savings are important because when unexpected expenses arise, many people who run out of short-term cash end up relying on high-interest credit cards that can compound their debt, Nayar says.

When emergency expenses arose for survey respondents, 48% used credit cards or other means of financing, such as borrowing money from family members, selling assets or loans on salary. Among those who use a credit card, 18% have a balance beyond the due date of their next payment.

And these expenses are almost guaranteed to arise at some point. About half of respondents reported one or more emergency expenses in the three months preceding the survey, which was based on 4,006 balanced census respondents.

“Almost every one of us will have an unexpected expense in the next six months,” says Nayar. “And you usually have no choice – you just have to find a way to pay it, right away.”

However, since so many Americans struggle to save, “any savings cushion” is better than no cushion at all, Nayar says. Start with whatever you can.

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ACE Cash Express donates over $9,000 to the American Red Cross https://corfulinastravel.com/ace-cash-express-donates-over-9000-to-the-american-red-cross/ Tue, 30 Aug 2022 16:05:00 +0000 https://corfulinastravel.com/ace-cash-express-donates-over-9000-to-the-american-red-cross/ “Serving the communities where we live and work is one of our key principles,” said Eric Norrington, senior vice president of public affairs for Populus Financial Group. “We are proud to support the American Red Cross as it continues to help people recover from the damage caused by the McKinney Wildfire.” The American Red Cross […]]]>

“Serving the communities where we live and work is one of our key principles,” said Eric Norrington, senior vice president of public affairs for Populus Financial Group. “We are proud to support the American Red Cross as it continues to help people recover from the damage caused by the McKinney Wildfire.”

The American Red Cross is always there in times of need, turning compassion into action by helping those affected by disaster. Red Cross Societies help ensure that individuals and communities are prepared for disasters and emergencies through direct action and training.

“The American Red Cross is always ready to provide care, shelter and hope after an emergency,” said Diane Stephenson, Senior Regional Philanthropy Officer, American Red Cross, North Texas Region. “Our mission is possible thanks to dedicated volunteers and the generous support of partners like ACE Cash Express.”

Nationally, the Give a Little 2022 campaign raised more than $164,000 for local chapters of charities across the country, including AdoptAClassroom.org, Alex’s Lemonade Stand Foundation, American Red Cross, Autism Speaks, Back on My Feet, Feed My Starving Children, Feeding America’s Local Food Banks, and Homes For Our Troops. This fundraiser is part of the ACE Community Fund, ACE’s charitable program, which has donated over $16 million since its inception in 2004 to organizations in the communities where ACE operates.

About Populus Financial Group

Populus Financial Group™ provides financial services through its family of brands, including ACE Cash Express®, ACE Elite® Visa® Prepaid Debit Card, Flare Account® and Porte™. Populus Financial Group offers a wide range of financial products and services, including short-term consumer loans, card services, check cashing, money transfers, bill payments and money orders. Visit PopulusFinancial.com for more information.

About the American Red Cross

The American Red Cross shelters, feeds and comforts disaster victims; provides about 40% of the nation’s blood; teaches life-saving skills; distributes international humanitarian aid; and supports veterans, service members and their families. The Red Cross is a nonprofit organization that depends on the volunteers and generosity of the American public to carry out its mission. For more information, please visit redcross.org or visit them on Twitter at @Red Cross.

SOURCE Populus Financial Group Inc.

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Inside the Rise of Expensive Pawnbrokers – and Affordable Alternatives https://corfulinastravel.com/inside-the-rise-of-expensive-pawnbrokers-and-affordable-alternatives/ Sat, 27 Aug 2022 22:36:14 +0000 https://corfulinastravel.com/inside-the-rise-of-expensive-pawnbrokers-and-affordable-alternatives/ IF money is tight, you may have considered pawning something valuable. It can be jewelry, a watch or a handbag. 1 We investigate pawnbrokers and provide advice on affordable alternatives The cost of living crisis has seen a boom in pawnbroking – where money is made available in exchange for something of value which, if […]]]>

IF money is tight, you may have considered pawning something valuable.

It can be jewelry, a watch or a handbag.

1

We investigate pawnbrokers and provide advice on affordable alternatives

The cost of living crisis has seen a boom in pawnbroking – where money is made available in exchange for something of value which, if repayment is not met, can be sold.

But experts warn that loans are expensive, and if you can’t repay the debt, you could lose something of sentimental value.

This week, Sun Money investigates these loans and provides advice on affordable alternatives.

EXPENSIVE RATES

YOU could end up paying back hundreds of pounds in interest. Three of the UK’s largest pawnbrokers, Cash Converters, Ramsdens and H&T, charge between 118.8% and 119.9% ​​annually.

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This means that if you take out a loan of £500 over six months, you will have to repay £299 in interest or £799 in total, at a rate of 119.9%.

The loans are much more expensive than those from the big banks, but cheaper than payday loans.

Many quote a monthly or daily interest rate, but they must also state the annual rate.

Often you can only borrow a percentage of an item. For example, if your ring was worth £200, you might only be able to borrow £100. Sometimes you have to repay the loan in one installment.

A spokesperson for H&T said: “We serve customers who are unable to raise funds in the traditional bank credit system, or who need a low value short-term loan to meet a need immediate funding.”

AFFORDABILITY FEARS

Pawnbrokers do not perform credit checks. This can be an advantage if you have bad credit, but it means there is no collateral to ensure you can afford the loan.

Debt adviser Sara Williams of Debt Camel said: ‘Some people find they are repurchasing an item but it has left them with so much money they have to pawn it again in a few weeks.

“A one-time convenience can turn into a long-lasting nightmare, especially if you pawn jewelry with sentimental value.”

A spokesman for the Financial Conduct Authority said: ‘We have reformed the market to help borrowers avoid getting into debt and have been clear with lenders about the need to support customers in times of difficulty.

“We will take action if companies fail to meet their obligations.”

IF YOU DO NOT REPAY THE LOAN

If you repay on time, you can get the pawned item back. But you must keep the receipt.

If you lose it and the item is over £75, you will have to pay a fee to have a magistrate or commissioner for oaths swear the goods are yours. If you can’t repay the loan, the item is sold.

James Daley of Fairer Finance said: ‘Avoid pawning any item with high sentimental value unless you are confident in your ability to repay.

If your item is resold, you should receive all the extra money the pawnbroker receives – on top of what was offered to you.

James adds: “In the past, pawnbrokers have failed to reunite customers with this extra money.

“So if you’re pawning something and it’s sold, check how much it sold for and find out what money is owed to you.”

AFFORDABLE ALTERNATIVES

If you need to borrow money, consider other options. Remember that emergency credit should only be used in extreme circumstances, such as to pay a priority bill or if your car breaks down.

If you have a low income or bad credit, you may find it difficult to qualify for the higher loan rates. This is why affordable alternatives are important.

First, try to get some free money in the form of grants. If you are on benefits, talk to your work coach about the Household Support Fund. Or ask your local council if they can help you.

Or Jane Tully of MoneyAdviceTrust, suggests, “Credit unions often offer a range of affordable products at cheaper rates and there’s a cap on how much interest they can charge.”

If you’re having trouble paying a bill, talk to your provider.

Use Turn2Us to search for grants or talk to End Furniture Poverty, if you need furniture or a new fridge-freezer, for example.

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Responsible lenders like Fair For You offer lower-cost loans to help you buy home essentials. Iceland is giving interest-free micro-loans of £75, in the form of a pre-loaded card to spend at the supermarket.

You can seek free debt advice from Citizens Advice, StepChange or National Debtline.

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