Today, Christensen knows that advice is not exactly sound, as he’s the education manager at Idaho-based Money Fit by DRS, a nonprofit debt management agency. The reality of this scenario is that your lender may not even consider the partial payment as any kind of payment, which could lead to further financial fallout. In this article, we’ll consider how partial payments can help—or hurt—when paying off your debts. In many cases, a partial payment is seen as no better than a missed payment by creditors, so it may not be worth making the effort....

In addition, the federal government has passed a number of laws protecting pregnant women and new mothers from employment discrimination or hardship. One of them may help you collect benefits or find other resources to ease your unemployment. For example, the Family and Medical Leave Act allows eligible parents to take time off for prenatal care and incapacity related to pregnancy, and the Pregnancy Discrimination Act makes firing a worker on account of pregnancy illegal....

When Does a Business Need an EIN? Your business must have an employer ID number (EIN) if: You have employees You are operating your business as a corporation or partnership You have a limited liability company (LLC) taxed as a corporation or S corporation You file an employment tax return, excise tax return, or alcohol, tobacco, and firearms return You withhold taxes on income paid to a non-resident alien You have a Keogh plan...

The most successful estate plans factor in several considerations. For example, they might name who inherits your retirement accounts or provide directives for your medical treatment if you become incapacitated. Learn more about essential strategies to keep in mind when you develop an estate plan. That way, you can shape your documents to meet your goals and provide for your loved ones in the way you want. Why Is Estate Planning Important?...

“Fiscal policy can do what we can’t, which is to replace lost incomes for people who are out of work through no fault of their own,” Powell said at a press conference after the latest meeting of the Federal Reserve’s Federal Open Market Committee. “All of us lived through the experience of the years after the global financial crisis. For a number of years there in the middle of the recovery, fiscal policy was pretty tight, and I think we will have a stronger recovery if we can just get some fiscal support....

A cover letter template provides a “fill-in the-blank” format. You can use it to create your own letter to send with your resume when you apply for a job. Free Microsoft cover letter templates are available online from Microsoft Office Online, as a download for Microsoft Word users, or are available within your Word program. Note that not all templates may work with all versions of Word, so check before you download....

The business cycle explains why faster growth is not always better growth. It will create an asset bubble if the economy expands too rapidly. The resulting contraction leads to a recession when that bubble bursts. Growth must be sustainable to create a healthy economy. Economists agree that the ideal GDP growth rate is between 2% and 3%. How a President Influences Growth Presidents influence growth through fiscal policy. They boost the economy by lowering taxes and increasing government spending....

From these humble beginnings, GEICO has grown to be the second-largest auto insurer in the United States. In 1978, GEICO began offering motorcycle insurance and has become one of the leading providers of motorcycle insurance in the country. Coverage Options Here are some coverage options to include in your GEICO motorcycle insurance policy: Accessories: GEICO’s accessories coverage gives you protection for all your extra motorcycle accessories including CB radios, helmets, backrests, seats, saddlebags, and chrome pieces....

The department said Thursday it agreed to forgive $6 billion worth of federal student loans for 200,000 borrowers, settling a class-action lawsuit brought against it by people who took out loans to attend for-profit colleges which they said misled them. If you’re part of this group, you will have your student loan balance canceled and the money you’ve already paid will be refunded, with your credit report cleared of any delinquencies, according to the terms of the settlement in the Sweet v....

Maskot /Getty Images One Million Black Women is a partnership that will commit $10 billion in direct investment capital and $100 million in philanthropic funding, including grants, to support programs and resources that influence key moments in Black women’s lives, from childhood through retirement. Investments will range from improving health care, education, and housing to increasing access to business loans. It aims to positively impact at least one million Black women by 2030....

So, what do you do when you just can’t make ends meet? Before doing something drastic, like skipping out on your loan payments, consider getting some help. There are plenty of government mortgage assistance programs that can help you get back on your feet. Let’s take a look. Determining When You Need Mortgage Assistance Understanding when you need help may be difficult. Let’s say you lost your job in 2020....

There was a growing gap between would-be buyers and sellers in September, with 15.8% planning to buy and just 12.5% planning to sell over the next 12 months, according to a Morning Consult poll released this week. Earlier in the year, the disparity between buyers and sellers had narrowed to something more balanced, but buyers have been pulling ahead ever since July, according to the intelligence company’s monthly survey of 2,200 U....

Which Expenses Qualify for Special Tax Treatment? The IRS website defines qualified higher education expenses as: Many schools or programs now require computers (perhaps even an iPad). If so, that expense would count as “equipment required for the enrollment or attendance of a student.” And note that for part-time students, room and board expenses are subject to a cap. In case of an audit, make sure to keep any list of required equipment that the school provides, and any requirements provided in the class syllabus....

After getting over the shock of finding mold and considering the next best course of action, you might worry about how much mold removal costs. As you see dollar signs flashing through your mind, you might wonder if your home insurance policy covers mold, too. Learn about the effects of mold, when mold is covered by your homeowners policy, and how to fix mold issues. Why Is Mold in Your House a Problem?...

Most dividends are taxed at ordinary income tax rates (10%-37% depending on your income), but you may be able to claim a 20% qualified business income deduction. Some dividends may be subject to capital gains. Capital gains on REIT dividends are always taxed at long term capital gains rates. Let’s walk through everything you need to know about REITs, how they’re taxed, and how to set yourself up for success when investing in a REIT that pays dividends....

Avoid Lump-Sum Distributions Taking a lump-sum distribution is almost always a bad idea. You can avoid a big tax bill by doing a rollover instead if your mutual funds are held in a tax-deferred account, such as an IRA, 401(k), or tax-sheltered annuity. Or you can take your distributions in smaller quantities that are spread out over more than one calendar year. You can avoid taxes altogether by transferring your 401(k) money over to another qualified plan, such as an IRA, if you have a 401(k) and don’t need the money now....

Impact on Your Credit Report Loans usually appear in your credit reports when you’re a co-signer. After all, you’re 100% responsible for repaying the loan—equally as responsible as the person you’re helping—even if you don’t ever plan to make payments. Credit reports help lenders understand how much you might potentially owe to all other lenders, and there’s a very real possibility that you’ll have to pay off any loans for which you co-sign....

Perhaps the most important thing to know is that time works for you when using compound interest. By starting the snowball effect sooner rather than later, your results are better. The ultimate outcome depends on how much you save, how much you earn and how many earnings cycles you experience, but nothing happens until you start. Here, you can see that the initial deposit earns interest, generating the two smaller pieces....

How Do Stablecoins Work? Stablecoins are cryptocurrencies linked to the price of another asset through algorithms or vast reserves. The peg is a price that a stablecoin always shoots for, relative to the asset it’s pegged to. In the case of a U.S. dollar stablecoin, that’s $1. The assumption is that stablecoins can be readily redeemed or traded for the value of the asset they’re pegged to. While some stablecoins are backed by tangible assets—PAX Gold, for instance, is backed by gold bullion bars stored in vaults—more volatile cryptocurrencies back others....

Don’t fret. While a daunting step, it’s one that can be taken with the proper preparation. Here are a few tips that’ll have you calling a new place your own in no time. Where to Look for an Apartment So you have your dream pad already fleshed out in your head. You’ve even begun to visualize furniture placements, but you may not have given much thought to where that apartment will be....