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SoftBank Rescues WeWork + How to Rescue Your Bottom Line from Money Leaks

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WeWork’s board has approved a rescue offer from Japan’s SoftBank, giving former CEO Adam Neumann almost $1.7 billion and little role at the office-leasing startup he founded, The Wall Street Journal said, citing anonymous sources. The agreement values the company at about $8 billion, down from $47 billion earlier this year. Neumann is expected to leave the board after a fall from grace from leading an IPO strategy weeks ago — until it was shelved.

This is good and bad news depending on who is telling the story but what steps can you take to save your bottom line? Here are a few ideas according to TheStreet.com:

1) Clip Coupons for Food

This might seem like a no-brainer, but many people don’t actually clip coupons, or they see coupons but then use them to buy things they don’t really need. It’s best to clip coupons only for the things you need and to use them with in-store sales and actually track what you’re saving. Lisa Reynolds at Redplum.com says the average family can save up to $1,000 a year just by spending 20 minutes clipping coupons. Reynolds also offers this tip about coupon-clipping and meal planning: “If you find a fantastic coupon, don’t dismiss it simply because the item is not usually on your list,” she says. “Planning your meals at the same time as reviewing coupon offers and store circulars lets you take advantage of really great deals and try new recipes. Many savvy cooks create meal plans based on what the stores advertise that week.”

2) Buy Food in Season

When it comes to buying wholesome foods for your family, “Stock up on fruits and veggies in season,” says Melissa Garcia, a savings expert with couponqueen.com. “Cut them up and freeze them at their peak so you’re not forced to pay those off-season prices and you know the quality is good.”

3) Dine Out Smarter

Just because you’re trying to save doesn’t mean you cannot ever dine out – just do it less often and do it smarter, suggests Reynolds. “Countless chain establishments have proven the old adage of no free lunch or dinner wrong, especially if you have kids. Full-service chain restaurants continue to offer some pretty sweet deals in the form of kids-eat-free promotions,” Reynolds says. “You can also try cutting down on heading out to your favorite restaurant every week or only try hitting up your local spots for which you only have a coupon.” Paul Vazquez, a savings expert at keycode.com, advises people to pack their lunch rather than buying it daily. “With some planning, you can save big on daily lunches by planning the lunch week in advance,” Vazquez says

4) Shop for Clothes at Consignment Shops

You can find some nice clothes at consignments shops for kids and adults. “Oftentimes, there are great, unique finds at your local consignment shop, including some of the top brands, at extremely affordable prices,” says Reynolds, who recommends using the site magicyellow.com to find a consignment shop near you.

5) Save on Gas

There are other ways to save on gas other than carpooling and putting your child on the bus or walking to school with them. This writer saves by using the gas stations that give discounts on certain days or that give discounts for using a Wal-Mart gift or credit card. Of course, if you do use a credit card, make sure to pay it off as the bill arrives. Garcia, our expert at couponqueen.com, also recommends downloading the Murphy Oil app, which will tell you the cheapest gas in your area.

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Ash Exantus aka Ash Cash is one of the nation’s top personal finance experts. Dubbed as the Financial Motivator, he uses a culturally responsive approach in teaching financial literacy. He is the Head of Financial Education at BankMobile and Editor-in-Chief at Paradigm Money. The views and opinions expressed are those of Ash Cash and not the views of BankMobile and/or its affiliates.

The Daily Digm (News)

Boeing Is Looking for a Big Loan to Save Its Company + How to Save Your Credit Score From Loans

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Boeing is looking to borrow at least $10 billion from banks after being hit by rising costs linked to two fatal crashes. The company, which this week confirmed it has temporarily halted production of the 737 MAX in Washington State, estimates the cost of the model’s grounding — now in its 11th month — at more than $9 billion, so far. Boeing posted negative orders last year due to cancellations for commercial aircraft for the first time in three decades. 

While Boeing sees borrowing as a way to save its company, what might save your finances may not necessarily be taking out more money. If it is, then you must know how doing so can affect your credit. Many people are aware of the important role the credit rating plays in their lives. However, understanding what goes into a credit score (the credit score breakdown) might present some difficulty. There are several different methods of scoring, but most lenders and banks rely on the FICO method that has been in existence since the 1980s when it was developed by the Fair Isaac Corporation. The three prominent credit bureaus (TransUnion, Experian, and Equifax) all worked with Fair Isaac to come up with the FICO algorithm.

Your credit score may be any number from 300 to 850. The average American falls at about 690, which is deemed relatively good credit. However, while this score should secure you a loan, it will not get you the very best interest rates on loan. In fact, 300-640 = Bad Credit, 641-680 = Fair Credit, 681-720 = Good Credit, and 721-850 = Excellent Credit. Excellent credit should be the aim.

Following is the credit score breakdown:

Payment History

The biggest chunk of your score (35%) is derived from your payment history. This score is influenced by how well (or not) you pay your bills on time, how many have been sent to collection agencies, bankruptcies, tax liens, etc. Keep in mind that missing a payment is worse than making a late payment and that being late or especially missing a mortgage payment is a bigger blow to your credit score than missing a credit card or utility payment.

Usage Ratio

The amount of debt you have (compared to the amount of credit you have not used) accounts for 30 percent of your score. Try not to max your credit cards out. In fact, it is recommended that you only use 25 to 50 of the credit that is available to you. A way to balance this out is to obtain more lines of credit and not use them. However, you do not want to apply for a bunch of credit cards all at once as this is marked against you. If your credit is in good standing, apply for a reputable card every six months or so and save it for a rainy day.

Length of Credit History

Fifteen percent of your credit score is based on how long you’ve established credit. This is common sense. The longer your credit history, the better your overall score will be. More data about your past leads to a more accurate prediction of your future credit worthiness.

Credit Mix

Having several types of credit will actually boost your score if they are managed well. This counts for 10 percent of the overall rating.

New Credit

As mentioned earlier, opening new credit accounts all at once will negatively affect your score in the short term. It’s also important that you are aware that your score can be lowered for too many “hard inquiries” about your status. A “hard inquiry” is one that you have authorized a lender to perform. If you are inquiring about your own score, this will not count against you.

Understanding what goes into the credit score breakdown is the first step in improving your score and what will allow you to design your score and begin you on the journey to financial freedom.

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Walmart’s Creates Weapon Against Amazon + How You Can Use the Same Weapon to Automate Your Finances

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Walmart unleashed its latest weapon in the fight against Amazon: the Alphabot. It’s an automated warehouse to help speed up its grocery pickup service. Analysts are calling it “the most promising technology to hit food retail in years.” This Alphabot will revolutionalize Walmart’s business, but how can we use bots for personal finance? Enter in Artificial Intelligence, aka AI!

In finance, AI has already been transforming the industry. Banks are already using AI in FinTech to automate many processes, help with fraud prevention, as well as thwarting potential hackers from stealing sensitive information. When it comes to you and me, AI can really help us manage our money better. The sad truth is that many of us are living paycheck-to-paycheck, so a new way to stop the cycle is dire to our financial health and well being.

AI is so advanced that it can use predictive technology to analyze how we spend money and give us advice based on our habits in order for us to live more fruitful. AI can also identify potential savings opportunities if used right. I know many of us get spooked every time our favorite shopping place follows us around the internet serving us ads, but this, in a way, is a form of AI. Based on your shopping data, advertisers and retailers know what you are looking for and how to get it to you. With the right app or program, there may be a way to serve you up only the items you need and at the best price. AI can also stop you from impulse shopping by advising you on your purchases based on the goals that you put in. The options are limitless.

While the thought of computers telling us what to do can be scary; understanding how AI can make our lives easier is important. I’m not ready to give up everything over to the bots, but some things I can wait to hand over. Only time will tell how this plays out, but just know that your financial struggles may be over soon thanks to AI.

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Ditching the Commute: 7 Fast-Growing Career Categories for Remote Jobs

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Going into work is not a popular thing to do anymore. Across the total U.S. workforce, remote work has grown 91% in the last 10 years, according to an analysis by FlexJobs and Global Workplace Analytics (GWA). While remote work exists across most career fields, it is growing more quickly in some fields than in others. With that in mind, FlexJobs analyzed over 50 career categories in its database, comparing the number of remote jobs posted on January 1, 2019, to the number of remote jobs posted on December 1, 2019, to determine which seven remote career categories have grown at a high rate during 2019, indicating they will be promising fields for remote job seekers in 2020.

“There is far more variety and depth in the types of career fields that allow people to work from home than most people realize, but this list represents the fields that have experienced particularly high growth during 2019,” said Sara Sutton, founder, and CEO of FlexJobs. “While a number of factors contribute to growth, all of these fields are highly compatible with remote work, so it may be that companies are using remote work as a strategy to attract candidates in a tight job market,” Sutton concluded.

The seven categories below have seen remote work job listings grow more than 40% when comparing the number of jobs posted on January 1, 2019, to December 1, 2019. A “remote job” is defined as a professional-level job that allows the worker to work from home either entirely or part of the time. Remote jobs are also known as telecommuting jobs, virtual jobs, and work-from-home jobs.

These are in order from highest to lowest growth, with each category having grown more than 40%.

1. Art & Creative: Creative careers often allow its professionals an exceptional amount of flexibility in their jobs. These jobs usually involve coming up with original and innovative ideas, both for aesthetic and practical value. Some artists work freelance while others work as part of a company’s or educational staff. Some of the common remote job titles within this career are Art Director, Illustrator, Commercial Artist, Website Designer, Conceptual Designer, Interior Decorator, Textile Designer, Painter, Photographer, and Musician.

2. Bookkeeping: Remote work opportunities for bookkeepers come from a variety of industries such as nonprofit, sales, small business, art and creative, client services, and of course, accounting and finance. An aptitude for organized and detailed work, and math and computer skills are essential for bookkeepers. Common job titles associated with this remote career category include Accounting Clerk, Sales Manager, Bookkeeper, Operations Manager, Office Assistant, and Accountant.

3. Internet & Ecommerce: The Internet and Ecommerce have made it possible for thousands of professionals to enjoy the freedom and flexibility of working from home. There are many jobs relating to the Internet that involve working with information technology, web development, and design, and social networking tools. This category also encompasses SEO, SEM, and social media jobs. Common remote job titles include Operations Manager, Search Marketing Specialist, Paid Media Manager, SEO Consultant, and Social Media Specialist.

4. K-12: Teachers and educators most often manage live classrooms in elementary, middle or high schools but in this information age, many are providing their teaching services online. There are many accredited virtual learning platforms such as elementary, middle and high school programs that are fully online now so that has opened up the door for more remote jobs for qualified teachers. There are also many parents who choose to home-school their children and receive support from K-12 teachers. Common remote job titles include Virtual Teacher, Tutor, Online Instructor, Curriculum Developer, and Speech Language Pathologist.

5. Graphic Design: Graphic designers produce visual solutions to the communications needs of their clients through a variety of creative skills and commercial awareness. They are creative people who have a flair for what is appealing to consumers, are aware of upcoming trends and can convert their ideas into visually pleasing images. There are many avenues for graphic designers to work virtually in marketing, technology, and commercial industries. Related remote job titles include Commercial Artist, Illustrator, Designer, Conceptual Professional, Art Director, Layout Manager, and Creative Director.

6. Translation: Translation careers are an exciting option in remote work. As business is becoming more global, the demand for professionals who can work as translators to bridge the communication gap between cultures and businesses is immense. This is especially important for companies that operate internationally or have operations in other countries where associates must live and work. Some of the job titles available for remote work in this category include Website Tester, Training Specialist, Language Tutor, Business Translator, Document Proofreader, Meeting Facilitator, Advertising Quality Rater, and Bilingual Writer.

7. Math & Economics: Math & Economics jobs exist in a number of industries, including education, accounting and finance, nonprofit organizations, government, banking, information technology, and publishing. Common remote job titles in this career field include Financial Services Representative, Operations Specialist, Mathematics Translator, Instructional Designer, Economist, and Statistician. 

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