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Author Rachel Rodgers says that being in debt is not an automatic sign of being bad with money. As someone who has tackled debt myself, a home mortgage, student loan, or business debt is typically considered good debt because it's viewed as an investment that grow over time. Try the debt snowball methodIf you are paying more than the minimum payment, you can try the debt snowball method for debt elimination. By "snowballing" payments toward your smallest debt, you'll eliminate it quickly and move on to the next-smallest debt while paying the minimum on the rest. Rinse and repeat with the next smallest debt on the list.

Persons: Rachel Rodgers, Rodgers, it's Organizations: Service Locations: Wall, Silicon

☆ A key driver behind ballooning student-loan balances is about to come back after a 3-year pause
▼ + stars: | 2023-06-19 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Student-loan payments, and interest, have been on pause for over three years. Interest has been a key driver of surging student-loan balances due to capitalization. "I feel like I've actually been responsible, and I've paid a considerable amount of money on my student loans," Wise said. "The only policy that has ever ended this debt cycle is the repayment pause, and the cycle is all but guaranteed to restart once the repayment pause comes to an end." "It would be political malpractice to have students repay student loans under Biden when Trump provided the relief," California Rep. Ro Khanna told The Washington Post.

Persons: —, David Wise, I've, Wise, Miguel Cardona, Joe Biden, Biden, " Cardona, Trump, Ro Khanna Organizations: Service, Education Department, Supreme, Jain, Institute, Federal Student Aid, Congress, Democratic, Biden, Washington Post Locations: California

☆ Bill Ackman wants you to know exactly why he's been stirring the anti-vaccine pot all weekend
▼ + stars: | 2023-06-19 | by ( Cheryl Teh | ) www.businessinsider.com time to read: +5 min

He's offering to fork out $150,000 for scientist Peter Hotez to debate Robert F. Kennedy Jr. on the topic of vaccines. "This is a debate that you cannot walk away from," Ackman tweeted at Hotez. Billionaire investor Bill Ackman, who's spent a good chunk of the weekend putting his weight — and his money — behind the prospect of a Joe Rogan-hosted vaccine debate, wants you to know he's not an anti-vaxxer or an advocate for conspiracy theories. "If you are truly interested in saving lives, you need to further the public's understanding of the truth about vaccines," Ackman added. Every day we wait, thousands more will die," Ackman tweeted at the time.

Persons: Bill Ackman, Peter Hotez, Robert F, Kennedy Jr, Ackman, who's, Joe Rogan, Rogan, Kennedy, Elon Musk, Musk, Rogan —, Hotez, dogpiling, snowballing — Ackman Organizations: Morning, Pershing, Twitter, MSNBC, Ackman

TOKYO, May 2 (Reuters) - Banking sector problems in the United States and Europe were caused by liquidity and interest rates risks, but won't impact on Japan's economy and financial system for now, Economy Minister Shigeyuki Goto said on Tuesday. Financial institutions and authorities will need to respond firmly to liquidity risks," Goto said. "I don't see the U.S. financial sector facing big problems." "The BOJ as central bank should tackle monetary policy operations, but I don't see the current financial situation impacting Japan's economy and financial sector as a whole. "I expect the BOJ to guide monetary policy flexibly, meaning that the central bank should do so appropriately taking economy and financial markets into account."

☆ Office Doom Loop: Landlords Face a Reckoning As Companies Move to Fancy Offices
▼ + stars: | 2023-03-30 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +14 min

The Gas Company Tower in downtown Los Angeles has a sterling pedigree, but even that can't save it from the doom loop facing many older office towers. A huge swath of America's office market is vulnerable to these twin threats of being under-equipped with amenities and underwater financially. This behavioral shift has deeply cut into demand for office space. The amount of sublease space nationally more than doubled from 118.5 million square feet at the end of 2019 to 242.8 million square feet at the end of 2022, Colliers stated. Lenders are often reluctant, he said, to seize office buildings because of the costs and expertise required to operate the properties.

☆ Premarket stocks: Five big takeaways from the Fed's extraordinary meeting
▼ + stars: | 2023-03-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —The Federal Reserve raised interest rates by a quarter percentage point on Wednesday as it attempts to fight stubbornly high inflation while addressing risks to financial stability. Powell said that the central bank anticipates growth will slow and inflation will decline gradually this year and next year. Before the banking crisis, the Fed was fairly certain that more rate hikes would be coming in the future. But markets tend to be fickle after Fed meetings and traders’ opinions of the meeting could change in early trading. Norway and Switzerland hiked rates earlier Thursday, and the Bank of England is expected to do so too at 8a ET.

March 21 (Reuters) - Investors on Tuesday took some heart from the rescue of troubled lender Credit Suisse by its Swiss rival UBS (UBSG.S), though concerns lingered about the risk of shockwaves further damaging credit markets and smaller U.S. banks. "The current situation in U.S. regional banks and Credit Suisse has raised concerns about contagion risk," said Grace Tam, chief investment advisor Hong Kong at BNP Paribas Wealth Management. Credit Suisse CEO Ulrich Koerner, who was expected to attend the conference, however, dropped out and the event was closed to media after the weekend rescue. Shares in First Republic Bank (FRC.N) halved on Monday on worries that last week's $30 billion infusion of capital would not be enough. The regulators said owners of this type of debt would only suffer losses after shareholders have been wiped out - unlike at Credit Suisse, whose main regulators are in Switzerland.

March 20 (Reuters) - Shares of U.S. lender First Republic tumbled nearly 50% on Monday on fears it will need a second rescue to stay afloat, bucking a broader rally in bank shares driven by UBS Group's state-backed takeover of Credit Suisse. "First and foremost, the Credit Suisse, UBS merger certainly takes a lot of stress out of the global banking system." The 3 billion Swiss franc ($3.2 billion) deal for the troubled Swiss bank - which was once worth more than $90 billion - was engineered by Swiss regulators and announced on Sunday. European bank shares (.SX7P) rebounded from recent losses, while on Wall Street the S&P 500 banks (.SPXBK) index recovered 0.6%. [1/2] Buildings of Swiss banks UBS and Credit Suisse are seen on the Paradeplatz in Zurich, Switzerland March 20, 2023.

In a package engineered by Swiss regulators on Sunday, UBS Group AG (UBSG.S) will pay 3 billion Swiss francs ($3.2 billion) for 167-year-old Credit Suisse Group AG <CSGN.S>, which was once worth more than $90 billion. European bank shares inched into positive territory (.SX7P) while shares in U.S. financial giants Citigroup (C.N) and JPMorgan Chase (JPM.N) rose 1.2% and 0.7% respectively. Investor focus had shifted to the massive blow some Credit Suisse bondholders will take, a new worry in a rolling banking sector crisis sparked by the collapse of midsize-U.S. lenders Silicon Valley Bank (SVB) and Signature Bank (SBNY.O) earlier this month. [1/2] Buildings of Swiss banks UBS and Credit Suisse are seen on the Paradeplatz in Zurich, Switzerland March 20, 2023. QUESTIONS FOR UBSThe deal to buy Credit Suisse will make UBS Switzerland’s only global bank and the Swiss economy more dependent on a single lender.

In a package engineered by Swiss regulators on Sunday, UBS will pay 3 billion Swiss francs ($3.23 billion) for 167-year-old Credit Suisse Group AG (CSGN.S) and assume up to $5.4 billion in losses. Investor focus has now shifted to the massive blow some Credit Suisse bondholders will take, adding to anxiety about other banking sector risks including contagion and the fragile state of U.S. regional lenders. UBS acquiring Credit Suisse for 3 billion francs a week ago would have seemed like a terrific deal. Buildings of Swiss banks UBS and Credit Suisse are seen on the Paradeplatz in Zurich, Switzerland March 20, 2023. QUESTIONS FOR UBSThe deal to buy Credit Suisse will make UBS Switzerland’s only global bank and the Swiss economy more dependent on a single lender.

☆ As bank crisis spreads, Cramer says the Fed may need to take drastic measures
▼ + stars: | 2023-03-15 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: 1 min

With all eyes on the banking sector, CNBC's Jim Cramer on Wednesday said the Federal Reserve may need to take "desperate measures" at next week's meeting — which could be "fantastic" for your portfolio. "This is going to be the most momentous Fed meeting in recent memory because the next move is so significant, and we don't know what it's going to be," he said. However, it's too early to say if the Fed's moves will outweigh the negative effects of the growing banking crisis, Cramer said. "We're close to the point where the Fed may feel the need to take desperate measures that could be fantastic for your stocks for your portfolio," Cramer said. "We just don't know if it's enough to outweigh the bad from the snowballing banking crisis."

☆ The implosion of Silicon Valley's largest bank has investors worried worse is to come: 'There might be some kind of crack in the financial system'
▼ + stars: | 2023-03-10 | by ( Hasan Chowdhury | James Dean | ) www.businessinsider.com time to read: +5 min

The implosion of the California lenders Silicon Valley Bank and Silvergate has investors worried. Christopher Whalen, the chairman of Whalen Global Advisors, a financial consultancy, said Silicon Valley Bank was "just the tip of the iceberg." He added that the situation at Silicon Valley Bank was "a reminder that many institutions are sitting on large unrealized losses" on bond holdings. Mould said the "fire sale" of Silicon Valley Bank's bond portfolio raised broader concerns. Silicon Valley Bank CEO Greg Becker on Thursday implored customers to "stay calm" in an apparent bid to stave off further mass withdrawals and avert collapse.

☆ I'm the founder of Gen-Z for Change and a freshman at Harvard. Here's how I balance my day so I don't miss out on the college experience while building my non-profit.
▼ + stars: | 2023-03-02 | by ( Alexandra York | ) www.businessinsider.com time to read: +2 min

Though the campaign was ultimately unsuccessful, it sparked a passion for political engagement that has since turned into a nonprofit called Gen-Z for Change. It says itworks with local, state, and federal organizations to effect policy change on topics including foreign policy, mental health, and climate. For the first year, Kohn-Murphy said, he spent time building the brand and working on a volunteer basis. He built the platform's infrastructure, created a posting schedule, and started to imagine what Gen-Z for Change could be outside of a TikTok account. A day in Kohn-Murphy's life includes attending classes at Harvard, building the business, and trying to have what he described as a typical college experience.

"Depending on the outcome of the MSCI review, we could see more pressure on select Adani group stocks." "MSCI has determined that the characteristics of certain investors have sufficient uncertainty that they should no longer be designated as free float ... This determination has triggered a free float review of the Adani Group securities," it added. Adani group did not respond to a Reuters request for comment. Adani Transmission (ADAI.NS), Adani Total Gas (ADAG.NS) and Adani Power (ADAN.NS) were each down 5%, while Adani Ports and Special Economic Zone (APSE.NS) were down nearly 2.9%.

☆ George Santos signs onto abortion, guns, term limits, and impeachment bills as he attempts to make friends on Capitol Hill
▼ + stars: | 2023-02-08 | by ( Nicole Gaudiano | Warren Rojas | ) www.businessinsider.com time to read: +5 min

Freshman Rep. George Santos is still finding his way on Capitol Hill after a rough start. In his first off-the-rails month on Capitol Hill, Santos has signed onto bills dealing with abortion rights, guns, the global social media phenomenon TikTok, congressional term limits, and even articles of impeachment. He signed onto bills promoting term limits and calling for the impeachment of Homeland Security Secretary Alejandro Mayorkas, a top priority for the MAGA wing. "The congressman seeks to work with everyone, and has developed relationships with Republican members, as well as those across the aisle," a Santos spokesperson said. Republican Rep. Mike Waltz of Florida introduced that legislation to block Americans from doing business with Venezuela.

☆ Why Biden's plan to make monthly student-loan payments cheaper could end up sticking borrowers with the same repayment struggles they've had for decades
▼ + stars: | 2023-02-04 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +8 min

For years, income-driven repayment plans for student-loan borrowers were not working as intended. That's why Biden introduced a proposal to reform those plans and make monthly payments cheaper. Angel said they were advised by a customer service representative at a student-loan company to stay in school to defer the loan payments. But after so many years of failures with IDR plans, Chingos said he's concerned not much will change. According to NPR, three student-loan companies weren't tracking the payments borrowers were making under the plan, and low-income borrowers who were making $0 monthly payments were hurt the most.

☆ Auto loan delinquencies are rising. Here's what to do if you're struggling with payments
▼ + stars: | 2023-02-04 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +4 min

Fotostorm | E+ | Getty ImagesFor a rising share of car owners, monthly auto loan payments appear to be evolving into a problem. High prices, interest rates have led to bigger paymentsLoan delinquencies can harm your credit scoreWhile the auto loan delinquency rate is edging higher, the default rate is not, according to Cox. "If you're 30 days late, it impacts your credit score," said Brian Moody, executive editor of Kelley Blue Book. What to do if you're struggling with auto loan billsFor car owners who are pretty sure they're heading toward delinquency, it's important to try preventing the problem from snowballing. If you're struggling to keep up because you don't budget well, that's at least potentially fixable, experts say.

☆ ‘The Ark’ Review: A Rude Awakening in Space
▼ + stars: | 2023-02-01 | by ( John Anderson | ) www.wsj.com time to read: 1 min

If not for the snowballing crises that keep the mission in motion, “The Ark” might as well be about a sci-fi singles bar in space. Everyone is the same approximate age, attractive, capable, accomplished (except for the stowaways) and genetically primed to start a new society on a new world. In episode 4, one officer thinks he hears a baby. “There are no babies aboard this ship,” he’s told. What kind of survivalist space drama would that be?

☆ What student-loan borrowers should know about Biden's new debt relief proposals — and why advocates argue they're not enough
▼ + stars: | 2023-01-16 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +7 min

Biden proposed reforms to income-driven repayment plans for student-loan borrowers. "Today the Biden-Harris administration is proposing historic changes that would make student loan repayment more affordable and manageable than ever before," Education Secretary Miguel Cardona said in a statement. Here's what you need to know about these proposed reforms, and why some advocates are still pushing for further relief. This revision mean that the department will also be phasing out other versions of income-driven repayment plans. If you have a federal graduate or undergraduate student loan, who will be eligible for these reforms.

☆ Biden administration proposes new student loan repayment plan that could cut some payments in half
▼ + stars: | 2023-01-10 | by ( Annie Nova | ) www.cnbc.com time to read: +1 min

The U.S. Department of Education proposed regulations Tuesday that would reduce the monthly bills for certain federal student loan borrowers. Currently, the most affordable income-driven repayment plan requires borrowers to pay 10% of their discretionary income each month to their student debt. Payment plans based on student loan borrowers' income date back to the mid '90s. They provide an alternative to the standard repayment plan that spreads debt obligations evenly over a decade, or 120 months. Income-based plans typically trade lower payments for a longer repayment timeline, with any remaining balance forgiven.

☆ Biden's Education Department just proposed a new way to make monthly student-loan payments 'more affordable and manageable than ever before'
▼ + stars: | 2023-01-10 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +5 min

The Education Department unveiled additional details of its reformed income-driven repayment (IDR) plan. It would amend the REPAYE plan by cutting undergraduate student loan payments in half and prevent interest capitalization. One of those programs is the income-driven repayment (IDR) plan, which is intended to give borrowers affordable monthly payments based on their discretionary income with the promise of loan forgiveness after at least 20 years. "Today the Biden-Harris administration is proposing historic changes that would make student loan repayment more affordable and manageable than ever before," Education Secretary Miguel Cardona said in a statement. Rather than creating an entirely new plan, as a fact sheet said, the department will amend the Revised PayAs You Earn (REPAYE) plan, which was created in 2016 to calculate borrowers' monthly payments based on their discretionary income.

☆ Southwest pilots have had to book their own hotel rooms during the airline's operational meltdown
▼ + stars: | 2022-12-28 | by ( Taylor Rains | ) www.businessinsider.com time to read: +3 min

Southwest Airlines has been experiencing an operational meltdown due to the winter storm and "scheduling issues." Company union VP Captain Mike Santoro told Insider that pilots are booking their own hotel rooms. Captain Mike Santoro, vice president of the Southwest Airlines Pilots Association (SWAPA), told Insider the union is encouraging its pilots to book their own accommodations during the meltdown and some pilots have had to do that. He told Insider that the decision to tell crew members to book their own accommodations comes down to safety. "Employees, like customers, may submit receipts for reimbursement consideration," a Southwest representative told Insider.

☆ Premarket stocks: Why the market is obsessed with unemployment
▼ + stars: | 2022-12-19 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Stocks plunged earlier this month after the closely watched November jobs report showed a resilient labor market. They fell again on Thursday when weekly numbers showed the number of Americans filing for unemployment benefits fell, indicating a still-tight labor market. “There’s an imbalance in the labor market between supply and demand,” he said, adding that it will take a “substantial period” to fix that imbalance. That path to the Fed’s 2% inflation target is through the jobs market. “There will be some softening in labor market conditions,” Powell said.

☆ British nurses launch historic strike, as pay and staffing crises threaten the NHS
▼ + stars: | 2022-12-15 | by ( Rob Picheta | ) edition.cnn.com time to read: +9 min

“The reality is, every day, nurses across the UK are walking into understaffed hospitals,” Mackay said. “I feel really sorry for the young girls who are now trying to get into the profession, they have to pay for their training. Nurses’ pay dropped 1.2% every year between 2010 and 2017 once inflation was taken into account, according to the Health Foundation, a UK charity that campaigns for better health and health care. Christopher Furlong/Getty ImagesEarlier this year, the RCN rejected an offer by the government to increase nurses’ pay by a minimum of £1,400 ($1,707) a year, which amounted to an average rise of 4.3%, well below the rate of inflation. Members of Britain’s armed forces were being trained to drive ambulances and firefight in the event of strike action, ministers said earlier this month.

☆ Hong Kong home prices drop to the lowest in nearly five years — and the worst may not be over
▼ + stars: | 2022-12-07 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

Prices of Hong Kong's residential properties plunged to a near five-year low as rising interest rates and a mass exodus of expat workers drove down prices in one of the world's most expensive cities to work in. Hong Kong's home price index for October fell 2.4% to 352.4 compared to the previous month, marking the lowest level for the gauge since November 2017. Hong Kong, the world's least affordable housing market, saw dips in some of its largest private housing estates. In YOHO town, a 393-square feet apartment that's currently listed for 5.98 million Hong Kong dollars — that's about HK$15,216 per square foot, and a 20% drop in price compared to the previous month. A confluence of factors including weaker growth predictions and mainland Covid policies contribute to the grim outlook, but Hong Kong's immigration crisis and snowballing interest rates remain salient sticking points.

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