Morgan County Herald: Money & Finance

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Surprisingly, Older Americans Are Coping Best During the Pandemic

(NewsUSA) - Older Americans have actually been coping far better than younger ones during the coronavirus pandemic, according to new research.

  • icon Posted: August 05

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Recent Headlines

Wednesday 08/05/2020
The smart guide to personal finance in a post-COVID world
Posted: August 05, 2020

(BPT) - From job loss and unexpected medical costs to economic swings and volatile stock markets, everyone has experienced some level of financial impact from COVID-19. It's important to know there are simple steps you can take to manage your money throughout challenging times and position yourself for a secure future.

Tuesday 08/04/2020
Seventy-two Percent Of Women Want To Be Entrepreneurs, New Study Reveals
Updated: August 06, 2020 - 2:31 am

(NAPSI)—Here’s good news about the economy: Around the world, entrepreneurship is an important driver of economic development and growth. It can also be empowering for women and other previously underrepresented groups in business ownership.

Worldwide, it is estimated that the number of women-owned businesses is one-quarter to one-third of all enterprises, and the segment continues to grow as there are still many women who aspire to make entrepreneurship a reality, as revealed by a new Herbalife Nutrition survey.

The second annual survey, which explored women and entrepreneurship globally, revealed that nearly three-quarters of women aspire to open their own business, and of those, 50 percent don’t yet have a business, and 22 percent have one but would like to open another.

“Women entrepreneurs create a source of income for themselves and their families. They are a vital part of our world’s economic engine that society needs to support with flexible opportunities, mentorship, and access to capital,” said Ibi Montesino, Senior Vice President and Managing Director, North America Region, Herbalife Nutrition.

While some of the increase in entrepreneurship interest may be attributed to current economic conditions, many of the women surveyed raised concerns about overwhelming challenges they experience in the traditional workplace compared to their male colleagues. In fact, more than 60 percent of women said they would like to start a business due to unfair treatment in previous job roles. 

Of the women surveyed:

•70 percent believe women must work harder to have the same opportunities as men in the workforce.

•43 percent of women have delayed having children because they thought it would negatively affect their career.

•25 percent said they had faced pregnancy discrimination.

•42 percent believe they’ve been unfairly overlooked for a raise or promotion because of their gender and, among those, it happened three separate times on average.

While such challenges may be a catalyst for the surge in entrepreneurship, the top motivation for starting a business was revealed as becoming a role model for younger women (80%), followed by interest in becoming their own boss (61%) and a commitment to helping break the glass ceiling (67%). 

These women are entering their endeavors with eyes wide open, and don’t expect entrepreneurship to be smooth sailing: A third of women with plans for entrepreneurship are “very worried” about their business—or future business—failing in the next five years.

The women believe the top three challenges when starting a business all revolve around finances—earning enough money to offset costs (51%), having enough budget to grow (51%) and financing their business (48%).

This concern for money was echoed in last year’s survey, when 58% of women reported financing their business to be the most challenging aspect.

For many, though, the benefits outweigh the challenges. The top potential benefit to entrepreneurship was revealed to be the potential income growth (54%), followed by the ability to be their own boss (52%) and more flexibility in their work/life schedule (45%). 

Montesino pointed out that Herbalife Nutrition is proud that more than half of its independent distributors are women who set up their businesses and decide when and where they work and do so on their terms. The importance of women entrepreneurs is demonstrated by the effect their businesses have on the economy and the opportunity they provide to create role models for future generations. 

Learn more at www.herbalife.com.

 

Friday 07/24/2020
Helping Homeowners and Renters Navigate Payment Options as COVID-19 Financial Crisis Continues [Video]
Posted: July 24, 2020

Thursday 07/23/2020
Now’s a good time to start saving for college
Updated: August 08, 2020 - 2:31 am

(BPT) - With the end of an unconventional school year, parents around the country are faced with the daunting challenge of saving for their children’s college education. The cost of college is rising, and many American households are already wrestling with their existing student debt. According to NerdWallet, the collective student debt in the U.S. has climbed to $1.6 trillion and shows no signs of decreasing.

How to Borrow Smart for College
Posted: July 23, 2020

(StatePoint) It’s no secret college can be expensive, and families are often faced with finding creative ways to cover the costs. Whether borrowing student loans or parent loans has always been part of your family’s plan or it is suddenly being considered due to new financial circumstances, there is good news: several smart strategies can help you save money.

Tuesday 07/21/2020
5 Ways to Heat Up Your Financial Protection Plan this Summer
Posted: July 21, 2020

(StatePoint) The lazy days of summer are often a carefree time, but this year is a bit different given the pandemic and a volatile stock market. Many Americans are feeling things like their health, job and retirement savings are at risk.  

Friday 07/17/2020
7 key ways to cover your child's college costs this fall
Updated: August 08, 2020 - 2:31 am

Wednesday 07/15/2020
Now’s the time to redeem your gift cards
Updated: August 08, 2020 - 2:31 am

(BPT) - This year has had its fair share of challenges, and you may find yourself adjusting to a tighter budget or needing a pick-me-up. While it might feel counterintuitive, a little retail therapy might be just the ticket to giving you a mood boost.

Thursday 07/09/2020
Protecting your finances: Resources and relief options during COVID-19
Posted: July 09, 2020

(BPT) - As the coronavirus crisis causes financial hardship and uncertainty, the National Association of Personal Financial Advisors (NAPFA) offers four resources and additional steps to help you prepare and take control of your personal finances.

Monday 07/06/2020
5 tips to financially prepare for college this fall
Updated: August 08, 2020 - 2:31 am

(BPT) - For many students starting or returning to school this fall, the experience may be far different from what they envisioned last year. In response to COVID-19, a number of colleges and universities are temporarily moving to virtual learning models. At the same time, there are colleges and universities planning to reopen with new social distancing measures—some still determining exactly how to best proceed.

Thursday 07/02/2020
4 Steps for Developing a Thoughtful Estate Plan
Posted: July 02, 2020

(StatePoint) Many people may avoid estate planning because they think it can be put off until later in life. But experts agree that adults of any age should have a plan in place to make sure their financial affairs are in order after they pass on, or in case they are incapacitated. A complete and thoughtful estate plan covers more than who will get what -- it helps to ease the burden on your family and beneficiaries by documenting your wishes and instructions.

Wednesday 07/01/2020
Boost Your Retirement Income with Little-Known Benefits
Posted: July 01, 2020

(NewsUSA) - Retirement is a life-changing experience. For some older adults it can be relaxing, for others it can be energizing. Bu it should never be stressful.

Saturday 06/27/2020
Eight Quick Tips for Saving Money
Posted: June 27, 2020

(StatePoint) Saving money is a top priority for many Americans, but it becomes even more important during times of economic turmoil. Luckily, there are many simple steps you can take to eliminate wasteful spending in your daily life.

Monday 06/22/2020
Five Fast Tips To Keep More Of Your Money
Updated: June 24, 2020 - 2:32 am

(NAPSI)—With day-to-day activities affected by the coronavirus, many people greatly reduced their spending. While saving money is great, a solid financial plan is even better. Here are hints on how:

 1.Make a budget, but focus on the things that you can control. You can’t change your mortgage or rent payment overnight, but you can eat more meals at home.

2.Clear the clutter, but keep the cash. You can use sites such as Declutter, Facebook Marketplace and Offer Up to profit from the things you no longer need.

3.Simplify your subscriptions. Today there are subscriptions for everything from entertainment to plants. It’s easy to lose track of how much money you’re really spending. Make a list and do away with subscriptions you don’t fully use.

4.Plan major purchases. If you’ll need a new dryer, roof or car, figure out how much it will cost so that you can start saving.

5.Buy used or refurbished electronics. You can find great smartphones, laptops and other electronics in good condition on such sites as Gazelle, Swappa or eBay. Another tip for saving money is to use Upsie for the most affordable warranties for your electronics, appliances and more. Upsie also offers warranties that include accident protection for used devices.

Learn More

For further facts and tips, visit upsie.com.

 
 "You can find great used electronics in good condition online. It’s also wise to use Upsie for the most affordable warranties for your electronics, appliances and more. Upsie also offers warranties that include accident protection for used devices. @UpsieHhttps://bit.ly/31hX8WL"

Wednesday 06/17/2020
How to Choose the Right Personal Loan
Posted: June 17, 2020

(StatePoint) When it comes to selecting a personal loan, making the right choice is essential, particularly when you’re in a tight financial spot or have imperfect credit and fewer options.

Thursday 06/11/2020
Tips for Handling Your Finances During a Crisis
Posted: June 11, 2020

(StatePoint) With record numbers of Americans filing for unemployment and many facing income loss, the financial impacts of COVID-19 are far-reaching.

Wednesday 06/10/2020
Adding financial fitness to your routine
Posted: June 10, 2020

(BPT) - If you’re trying to stay healthy, chances are you have a routine to boost your physical fitness. But what about your financial fitness? As with exercise, you can establish regular routines to help keep your bank account healthy — and increase your peace of mind.

Monday 06/08/2020
Pandemic spurs innovation for small- to mid-sized businesses
Updated: August 08, 2020 - 2:31 am

(BPT) - As COVID-19 continues to disrupt normal day-to-day operations of small- to mid-sized businesses and nearly half of the U.S. workforce hangs in the balance, employers are taking creative measures to reset their go-to-market strategies and offerings. By changing their operations to meet the demands of their customers, businesses can not only stay relevant but keep their staff employed and thrive in the new economy.

Be Cool And Save Money
Updated: June 10, 2020 - 2:32 am

(NAPSI)—Many Americans may be surprised to learn that almost half their utility bill goes toward heating and cooling their home. Fortunately, the U.S. EPA’s ENERGY STAR Program offers resources to help you beat the heat—all while saving a, saving money and protecting the climate. Here’s how:

Maintain or Upgrade Your HVAC System 

Check your system’s air filters. A dirty air filter will make the system work harder to keep you cool, wasting energy. Filters should be inspected once a month during heavy use. 

If your heating and cooling equipment is more than 10 years old or it needs frequent repairs, it may be time to consider a replacement. The ENERGY STAR Heating and Cooling Guide helps you navigate an HVAC equipment upgrade that will keep you comfortable and help you save money, year round. Visit www.energystar.gov/HVACguide.

Get a Smart Thermostat 

 A WiFi-enabled smart thermostat automatically adjusts your home’s temperature settings for optimal performance. ENERGY STAR certified smart thermostats are independently certified, based on actual field data, to deliver energy savings.  

Need a New Room AC? 

On average, ENERGY STAR certified room air conditioners use 10 percent less energy and cost less than $70 per year to run. 

Learn More

You can find other savings tips at www.energystar.gov/cooling

 

5 ways teens can learn good money habits
Updated: August 08, 2020 - 2:31 am

(BPT) - If you’re a tween or teen trying to earn money or save for a goal, it can be hard to sort out the mixed messages about money you hear from the media, your friends — and even your family. Sometimes parents don't like talking about money, or they may not always practice what they preach.

Thursday 06/04/2020
6 Tips for Refinancing Your Mortgage
Posted: June 04, 2020

(StatePoint) The recent economic downturn has caused many Americans to worry about their money, but there is at least one potential bright spot: lower interest rates. For homeowners, this means that it may be time to consider refinancing your mortgage. Refinancing can give you an opportunity to lower your monthly mortgage payments and save money by paying less interest over the term of the loan.

Thursday 05/28/2020
Entrepreneurial opportunities in the restaurant industry
Updated: August 08, 2020 - 2:31 am

(BPT) - While it’s clear the current pandemic has hit the traditional restaurant industry especially hard, restaurants and franchises that can pivot to succeed by offering drive-through, take-out and delivery options will likely weather the storm, and even thrive in the near future.

Schools, Parents And COVID-19
Updated: June 06, 2020 - 2:33 am

(NAPSI)—K–12 education has gone through a seismic shift in the wake of COVID-19. Parents are finding themselves thrust into homeschooling, and educators, into virtual schooling. EdChoice, a national nonprofit, nonpartisan organization, teamed up with Morning Consult to release results of a recent poll to find out how it has affected families and teachers.

They found that parents are clearly anxious about sending their kids back to school; 66 percent said they were concerned their children will be exposed to the virus in school. The majority (68%) are also concerned their child is missing important instruction time. 

The silver lining to so many states having closed down brick and mortar schools: A solid majority of parents said they felt at least somewhat prepared for the transition to e-learning and distance learning. Parents are slightly more likely to say they felt very or somewhat prepared (70%) than were teachers (67 percent). 

There is only one type of school choice program that allows families to receive funds into a flexible spending account to customize an education for their child. They are called education savings accounts, or ESAs. And according to EdChoice’s Public Opinion Tracker, 67 percent of Americans support them. 

These results are part of a new, larger polling project, the EdChoice Public Opinion Tracker. is new dashboard updates every month with results of public survey questions not only on COVID-19 but also on K–12 education topics such as schooling, testing, spending and school choice. 

Learn More 

For more findings from EdChoice’s Public Opinion Tracker visit www.edchoice.org

 

Next COVID-19 Challenge: Reduce Employer Rx Costs, Enhance Patient Access
Updated: August 06, 2020 - 2:31 am

(NewsUSA) - In the coming weeks and months, America will begin attempting to re-start the economy and hopefully take steps toward a semblance of a new normal. However, even as this process gets underway, our economy has been shaken to its core with ramifications that will reverberate for some time to come. In this new reality, America's employers and healthplan sponsors will face daunting challenges as a result of COVID-19's impact.

Tuesday 05/26/2020
What’s Your Advance Care Plan?
Updated: May 28, 2020 - 2:31 am

(NAPSI)—No matter your stage of life, it’s always a good idea to have a long-range care plan in place. A good way to begin is to talk candidly with your family and friends. By starting the conversation, you can express your views on treatment, relay your care preferences and communicate who will make decisions on your behalf. This process of advance-care planning can help ensure your wishes are carried out and bring peace of mind to those you love. 

Build your advance care plan 

•Durable financial power of attorney: This document authorizes a person to make legal or financial decisions on your behalf if you are incapacitated. 

•Durable healthcare power of attorney: This document authorizes a person to make healthcare decisions on your behalf if you are unable to do so. 

•Advance-care directive: This document specifies how you receive care in the event you are unable to make those decisions on your own. 

•Long-term care insurance: This is an insurance product that pays for long-term care services in a variety of settings. 

Documents and requirements may differ by state. Please consult a legal or financial advisor to ensure use of the correct forms. 

Make the Federal Long Term Care Insurance Program (FLTCIP) part of your plan  

As you make plans for the future, consider the potential need for long-term care and the effect it could have on you and your family. 

Long-term care is the ongoing aid you need if you can no longer perform everyday tasks by yourself due to chronic illness, injury, disability, or the aging process. This type of care is expensive but there’s a way to get help paying for it.  

Applying for long-term care insurance coverage under the FLTCIP may be a smart choice for you. The FLTCIP is designed to reimburse for qualified long-term care services and can help lessen or eliminate your reliance on a loved one to provide hands-on care.  

The FLTCIP offers you a choice of caregivers. Informal care provided by friends and family members is covered, as long as the caregiver isn’t your spouse or domestic partner and doesn’t live in your home at the time you become eligible for benefits. (Benefits for care provided by family members is limited to 500 days.) 

Care provided in an assisted-living facility, an adult daycare, or a nursing home is also covered. If home care is your preference, the stay-at-home benefit includes a range of services that support care in your home, helping you maintain your quality of life in familiar surroundings. 

Taking the next step 

The FLTCIP is sponsored by the U.S. Office of Personnel Management, insured by John Hancock Life & Health Insurance Company, and administered by Long Term Care Partners, LLC. To learn more about the comprehensive benefits and features, call 1-800-LTC-FEDS (1-800-582-3337) TTY 1-800-843-3557 or visit LTCFEDS.com.

 

Thursday 05/21/2020
Digital Strategies Help Small Businesses Compete
Updated: July 28, 2020 - 2:33 am

(NewsUSA) - Now more than ever, building relationships is important to small businesses so they can compete in the global marketplace.

Tuesday 05/19/2020
Survey Reveals Many Americans Inspired to Give More to Charity Than Last Year [Video]
Posted: May 19, 2020

How to save for retirement and pay for college at the same time
Updated: August 08, 2020 - 2:31 am

Wednesday 05/13/2020
Safeguarding Inactive Vehicles [Infographic]
Updated: June 29, 2020 - 2:31 am

(BPT) - There may be times when you are less likely to have your car on the road, whether that means it is sitting in your garage or stored in a facility. Even if you aren't using your vehicle for an extended period of time, there are still financial and physical aspects to taking care of your car. With a little bit of maintenance, you'll be able to save on costly repair bills while also boosting your vehicle's resale value.

4 Steps to Create a Household Budget with Staying Power
Posted: May 13, 2020

(StatePoint) These uncertain times are forcing more people to reexamine finances and rewrite their household budgets. According to the Pew Research Center in a survey conducted soon after the COVID-19 crisis began, 33% of Americans either lost their jobs or suffered a pay cut or reduction in work hours. Plus, 49% said the outbreak is a major threat to their personal finances.

Tuesday 05/12/2020
7 ways to bank remotely during COVID-19 [Infographic]
Posted: May 12, 2020

(BPT) - Mobile banking helps you manage your finances without having to leave home. Many mobile banking apps can help you do everything from depositing checks, to paying bills or sending money, all without visiting a branch or ATM.

What to do if you’re losing insurance through job loss
Updated: August 08, 2020 - 2:31 am

(BPT) - During these difficult times, millions of Americans have been furloughed, laid off, or may yet lose employment due to the pandemic. And because insurance is tied to employment for a vast majority of workers, this can mean facing the loss of insurance coverage as well as your income.

Friday 05/08/2020
Ticket To Work Helped Matt Build His Future
Updated: May 10, 2020 - 2:33 am

(NAPSI)—It may be easier for people with disabilities to achieve financial independence than they realize with Social Security’s free and voluntary Ticket to Work (Ticket) program.  Adults ages 18 through 64 who receive who Social Security Disability Insurance (SSDI) or Supplemental Security Income (SSI) due to a disability qualify.  The program connects eligible individuals with Ticket program service providers—Employment Networks (EN) or State Vocational Rehabilitation (VR) agencies—that can help with career counseling and job search assistance. Some can also help people understand how work will affect their benefits.

For example, Matt, who received SSDI due to hearing loss and other medical issues, was ready to explore work. He connected with an EN and created an employment goal of finding a job in the human services field and a plan to achieve it. Because he needed a sign language interpreter to work, Matt was uncertain about his prospects. If he asked an employer for things other candidates didn’t need, would it hurt his chances? In addition, the thought of losing his benefits worried him. What would happen if his disability interfered with work? Matt’s EN put his concerns to rest.

His EN told him about his right under the Americans with Disabilities Act (ADA) to request that an employer provide reasonable accommodations. These are adjustments that make it possible for a qualified employee with a disability to perform a job. Matt was reassured that good employers would comply with the ADA.

Next, Matt learned about Social Security’s Work Incentives. These rules and programs make it easier for ­people to work by allowing them to maintain their benefits as they start working. Matt was relieved that he would not immediately lose his SSDI or Medicare when he began working. He’d have time to see how employment would work for him.

With many of his concerns addressed, Matt pursued his goal and started working as a Human Resources Assistant. “I am in a supportive environment and position that [are right] for me,” he said, “...now I can afford things I could not have before.”

Matt’s work gives him the stability to build the future he wants. In 2019, he purchased a home, an achievement that seemed so remote years ago. Ticket to Work made it possible. Matt made it happen. 

This could be the year to find out what’s possible for you. To learn more, call the Ticket to Work Help Line at 1-866-968-7842 or 1-866-833-2967 (TTY) Monday through Friday, 8 a.m. to 8 p.m. ET or visit https://choosework.ssa.gov

 

Monday 05/04/2020
Finances During A Pandemic
Updated: July 01, 2020 - 2:34 am

(NewsUSA) - Sponsored Content -Now that the initial shock of the pandemic has started to wear off, it's time to take a step back and really start planning. Everyone is living through an unprecedented time. The uncertainty surrounding the Covid-19 pandemic is enough to rattle even the strictest saver. Things may feel that they are all out of your control, so focus on what you can control. First things first. Listen to healthcare professionals and follow guidelines to protect yourself and others. If you are financially impacted by Covid-19 for any reason, there are steps you can take to help minimize that impact.

Saturday 04/25/2020
Learning at Home: 5 Tips for Teaching Children Financial Literacy
Posted: April 25, 2020

(StatePoint) If you have school-age children, you are probably one of the many parents facing the challenge of educating your kids at home. While there are countless learning options available—from virtual music classes to videos about zoo animals—financial literacy is one important subject that should not be overlooked.

Thursday 04/23/2020
Companies and Community Seek to Help Furloughed Workers
Updated: May 30, 2020 - 2:33 am

(NewsUSA) - Sponsored News - The coronavirus has spread throughout the United States like wildfire. Workers are being furloughed, resulting in almost 17 million unemployment claims between March 15th and April 4th.

How to Make the CARES Act Part of Your Financial Plan
Posted: April 23, 2020

(StatePoint) For many Americans, the current state of the economy is creating real financial challenges and concerns. However, the federal government’s recently enacted CARES Act is intended to provide some financial relief to families and business owners who may be struggling to manage their finances, using cash disbursements, expanded unemployment benefits, and different loans and tax credits.

Tuesday 04/21/2020
What to Do if You Have A Vaccine Injury
Updated: May 23, 2020 - 2:30 am

(NewsUSA) - Currently, 16 vaccines are covered under the Vaccine Injury Compensation Program (VICP) in the United States: influenza, tetanus, pertussis (whooping cough), measles, mumps, rubella, human papillomavirus, meningitis, diphtheria, chicken pox, polio, rotavirus, haemophilus influenzae type b, hepatitis A, hepatitis B, and the pneumonia conjugate vaccine.

Monday 04/20/2020
Fraud And Coronavirus
Updated: April 23, 2020 - 2:30 am

(NAPSI)—The warning bells are ringing. From regulators, law enforcement agencies and consumer organizations around the globe, the message is clear: Fraudulent schemes related to the coronavirus (COVID-19) pandemic have arrived, and they are coming in many forms, from investment fraud to fake CDC emails to phishing scams. 

Job loss, financial strain, and social distancing are conditions that present fraudsters with an opportunity to pounce. A study by the FINRA Foundation, the BBB Institute for Marketplace Trust, Stanford, and the Federal Trade Commission found that social or physical isolation can increase anyone’s susceptibility to schemes. 

In times like these, it can be difficult to separate fact from fiction. Now is the time to move slowly, pay attention to details and not make rash decisions. Dramatic news coverage of viral outbreaks and pandemics can be an opportunity for scammers to pump inaccurate information into the marketplace to try to manipulate markets and investors. Following these hints can help you keep your money and personal information safe: 

Tips for Avoiding Coronavirus Scams

 

1.Ask and Check. Before you make any investment decision, ask and check to verify information about any individuals you are dealing with and any investment product you are considering. You can use FINRA BrokerCheck, a free online tool, to get information on brokers and investment advisers. 

2.Be skeptical. If an unknown company becomes the subject of press releases, emails, and promotional materials hyping the company and its products to cure the latest pandemic, hit pause. Be wary if you are flooded with information over a short time, especially if the communications only focus on the upside with little or no mention of risk.

3.Read a company’s SEC filings.  Check the SEC’s EDGAR database to find out whether the company files with the Securities and Exchange Commission. Verify these reports against promotional information put out by the company or third-party promoters. Exercise caution if they don’t align. And be suspicious of solicitations to invest when products are still in the development stage, where no actual products are on the market, or if the company’s balance sheets only show losses.

4.Question companies new to the “cure” market. Changes to the name or business focus of a company to capitalize on pandemic fears may be a sign that a company is engaged in, or the subject of, a potential fraud. These changes can turn up in company press releases, Internet searches and, if the company files periodic reports, in the SEC’s EDGAR database.

5.Run it through the Scam Meter. Before you make any investment decision, the FINRA Scam Meter can help you tell if an investment you are thinking about might be a scam.

Reliable Resources on Scams and Coronavirus

 

Fortunately, there are a number of resources that provide accurate, unbiased information to help you spot and avoid coronavirus-related scams:

•FINRA

•Securities and Exchange Commission  

•Federal Trade Commission 

•Consumer Financial Protection Bureau 

•Better Business Bureau.

Learn More

For further ideas on how to protect your money, or to file a complaint or a tip, visit www.FINRA.org/LearnMore.

 

Saturday 04/18/2020
6 Steps to Get Your CARES Act Funds Fast
Posted: April 18, 2020

(StatePoint) Millions of U.S. residents will receive government stimulus payments (also known as Economic Impact Payments) under the CARES Act. Payments to eligible recipients will arrive by either direct deposit or a paper check.

What You Need to Know About Filing Your 2019 Taxes
Posted: April 18, 2020

(StatePoint) Spring is the season of warmer weather and blossoming flowers, but it is also – usually -- the season of taxes. Tax Day is typically April 15, but the Internal Revenue Service (IRS) recently extended the deadline for filing and paying your 2019 federal income taxes to July 15, 2020.

Tuesday 04/14/2020
How to Get Wages to Your Workers Immediately
Updated: April 16, 2020 - 2:32 am

(NAPSI)—Amid the economic fallout stemming from the COVID-19 crisis, many lower-income and hourly workers need access to their earned wages immediately, versus waiting the traditional two-week pay cycle. PayActiv, the leading provider of employee earned wage and tip access, has been committed to solving this problem since 2013, and today has waived its access fees until further notice to help employers compensate their workers on-demand. 

More than 1,000 employers across healthcare, retail, food services, and business processing services have signed up for the PayActiv financial wellness platform to manage their cashflow challenges and cut costs, while lifting employee morale for the more than two million workers already enrolled. The PayActiv platform helps essential workers on the front lines of the COVID-19 crisis in America’s hospital systems, senior living centers, and recovery clinics. The workers get timely access to their wages and tips, the ability to purchase supplies, and a means to avoid overdraft fees, late fees or payday loans. Payout is immediate on the PayActiv prepaid card and other debit cards. Additional options include direct deposit, cash pick up, and more. Employees can also pay bills within the app or order an Uber® from the app using earned-but-unpaid wages.

In a sign of how dire the COVID-19 crisis is for many workers, a recent PayActiv survey found that 82% of workers said their greatest concern is their finances, 60% have no sick leave, and 58% have seen their expenses rise since the outbreak. Even before the crisis, studies found that 78% of U.S. workers live paycheck-to-paycheck. This problem is compounded by many workers now facing new medical costs. PayActiv has seen workers enroll in its services at a 200% increase week-over-week since the onset of the COVID-19 crisis, with much of that increase stemming from the healthcare and delivery industries.

“The ongoing situation isn’t sustainable. People need access to their earned wages without having to wait two weeks,” said Safwan Shah, Co-Founder and Chief Executive Officer of PayActiv. “Our fundamental mission is to get earned wages into the hands of workers when, and how, they need them most.”

PayActiv is a certified B Corp and Public Benefit Corporation, committed to the public good. The company offers a range of other benefits, including prescription discounts, financial counseling, and budgeting advice. PayActiv has recently partnered with Paychex, a leading provider of HR, payroll, benefits, and insurance solutions, to offer $250 to every Paychex business customer that signs up for the PayActiv platform, and with OnShift, a leader in human capital management software for post-acute care and senior living, to provide more than 175,000 healthcare workers with earned wage access. Additional PayActiv clients include Walmart, American Senior Communities, Pizza Hut, and Subway, as well as many small businesses forming the backbone of the U.S. economy. 

Companies or employees wishing to learn more can visit www.PayActiv.com

 

Federal Program Offers Loan Repayment for Primary Care Providers
Updated: August 08, 2020 - 2:31 am

(BPT) - The health care system faces many challenges, including the availability of quality care for millions of Americans. While clinicians are struggling to pay off student loan debt, patients in geographically isolated areas, such as rural and underserved communities, have limited access to care and are most in need of obtaining it.

Tips for managing unexpected expenses
Updated: August 08, 2020 - 2:31 am

(BPT) - Even when times are good, it’s tough for most people to handle unexpected expenses. According to Forbes, nearly 78% of U.S. workers live from one paycheck to the next, with little or no money set aside for an emergency. But especially during uncertain times, any unexpected occurrence — from a broken appliance to a punctured car tire — can send a family into a downward spiral of debt that just makes the situation worse.

Mortgage Relief and COVID-19 Scams: What You Need to Know
Posted: April 14, 2020

(StatePoint) Unfortunately, during times of hardship, families are often targeted by fraud artists attempting to take advantage of those needing assistance. The COVID-19 crisis is no exception, with many scammers pretending to extend a critical lifeline to struggling homeowners through so-called “foreclosure rescue fraud.”

Friday 04/10/2020
NCOA Website Offers a Treasure Trove of COVID-19 Help for Older Adults
Updated: May 16, 2020 - 2:32 am

(NewsUSA) - The COVID-19 pandemic is generating fear, confusion, and economic uncertainty for many older Americans, especially those living on a fixed income.

Thursday 04/09/2020
Bartering is Back in Coronavirus Economy
Updated: May 07, 2020 - 2:32 am

(NewsUSA) - The novel coronavirus, COVID-19, continues to impact the economy in many ways, one of which has been the surge in popularity of the barter economy.

Tuesday 04/07/2020
Protecting Your Financial Health in These Uncertain Times
Posted: April 07, 2020

(StatePoint) With expected delays in bill payments, unprecedented layoffs, hiring freezes and related hardships, many Americans are facing new financial challenges.

Friday 04/03/2020
Tips to Protect Yourself From COVID-19 Related Scams
Posted: April 03, 2020

(StatePoint) As more Americans take precautions to stay safe from COVID-19, scammers are cooking up new schemes and exploiting every angle to profit off these unusual times -- from offering testing equipment to pretending to have in-demand products.

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