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☆ These companies are winners in the debt ceiling deal
▼ + stars: | 2023-05-30 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —The debt ceiling deal in Washington did not set off a celebration in the stock market. The Sierra Club called on Congress to reject the deal and pass a clean bill to raise the debt ceiling. Wall Street is also betting lending company SoFi will cash in from the debt ceiling deal because it calls for borrowers to start paying back federal student loans at the end of the summer. IRS funding cuts, defense spending intactMeanwhile, the debt ceiling deal would shift a total of $20 billion in IRS funding from fiscal 2024 and fiscal 2025 to be used in non-defense areas. The defense industry is also emerging largely unscathed from the debt ceiling battle, unlike in 2011 when Washington agreed to significant defense spending cuts.

☆ The Best Credit Cards with No Annual Fee
▼ + stars: | 2023-05-27 | by ( Kerri Anne Renzulli | ) www.wsj.com time to read: +11 min

To help you pick the right option for your needs, Buy Side from WSJ has identified the five best no annual fee cards. (See all our Best Rewards Credit Card picks.) Best for travelDiscover it® Miles learn more Base rewards rate: 1.5xBonus rewards: NoneSign-up bonus: Unlimited miles match after first 12 monthsAnnual fee: NoneAPR: 17.24% to 28.24%, variableForeign transaction fee: 0%Many of the top travel rewards cards come with an annual fee (see our Best Travel Credit Cards picks for proof). How we pickedTo pick Buy Side from WSJ’s Best No Annual Fee Credit Cards we looked at personal and business cards that were free to swipe and that offered the most generous cash back or points rewards. To find out more about how we chose credit cards—and to meet our panel of experts—you can also check out Buy Side from WSJ’s full best credit cards methodology.

Persons: Kerri Anne Renzulli, you’ll, That’s Organizations: Wells, Cash, Capital, Walmart, Netflix, Hulu, Entertainment, Visa, Mastercard, Chase Ink, Chase, Owners, Best Business, Card, of America, Bank of America Locations: Wells

☆ The Best Credit Cards With No Annual Fee
▼ + stars: | 2023-05-27 | by ( ) www.wsj.com time to read: +11 min

To help you pick the right option for your needs, Buy Side from WSJ has identified the five best no annual fee cards. (See all our Best Rewards Credit Card picks.) Best for travelDiscover it® Miles learn more Base rewards rate: 1.5xBonus rewards: NoneSign-up bonus: Unlimited miles match after first 12 monthsAnnual fee: NoneAPR: 16.74% to 27.74%, variableForeign transaction fee: 0%Many of the top travel rewards cards come with an annual fee (see our Best Travel Credit Cards picks for proof). How we pickedTo pick Buy Side from WSJ’s Best No Annual Fee Credit Cards we looked at personal and business cards that were free to swipe and that offered the most generous cash back or points rewards. To find out more about how we chose credit cards—and to meet our panel of experts—you can also check out Buy Side from WSJ’s full best credit cards methodology.

☆ A personal finance expert who teaches people how to get out of debt shares the 4 smartest steps she took to pay down $35,000 worth of credit card debt in 2.5 years
▼ + stars: | 2023-04-25 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

When Tiffany Aliche found herself in $35,000 worth of credit card debt, she took four initial steps. What's more, "I had $35,000 in credit card debt as a result of a scam," she said. "The credit card debt was significantly more expensive than any other debt that I had, which is true for most people," she noted. The average credit card interest rate was 20.40% in the fourth quarter of 2022. Here are the first four steps she took to tackle her credit card debt.

☆ ‍Soccer-Qatar's Al Thani submits new $6 bln bid for Manchester United - Sky News
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +1 min

March 25 (Reuters) - Sheikh Jassim bin Hamad Al Thani has submitted a new bid to buy Manchester United which is believed to be worth around 5 billion pounds ($6.12 billion), Sky News reported on Saturday. Sheikh Jassim, a son of Qatar’s former prime minister, launched the bid in February. A spokesperson representing Sheikh Jassim said at the time that the bid was completely debt free, via Sheikh Jassim's Nine Two Foundation. Finnish entrepreneur Thomas Zilliacus also placed a bid on Thursday and told Reuters that he was willing to pay a premium for the English soccer club. United are the fourth richest soccer club in the world, according to analysis by Deloitte .

☆ Soccer-Qatar's Al Thani submits new $6 billion bid for Manchester United, Sky Sports News reports
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +2 min

March 25 (Reuters) - Sheikh Jassim bin Hamad Al Thani has submitted a new bid to buy Manchester United which is believed to be worth around 5 billion pounds ($6.12 billion), Sky Sports News reported on Saturday. Sheikh Jassim, a son of Qatar’s former prime minister, launched the bid in February. A spokesperson representing Sheikh Jassim said at the time that the bid was completely debt free, via Sheikh Jassim's Nine Two Foundation. Finnish entrepreneur Thomas Zilliacus also placed a bid on Thursday and told Reuters that he was willing to pay a premium for the English soccer club. United are the fourth richest soccer club in the world, according to analysis by Deloitte .

While Joe Bogumill was in college, he received a monthly GI Bill educational stipend of $2,232 per month. Bogumill decided to take a yearlong break from school, which meant that roughly a third of the couple's monthly income would be cut. The couple shares one car and uses public transit"I think a lot of people have this desire to look at little things they can cut," Weir says. The couple audited all of their monthly subscriptionsAfter cutting costs in the "big three" categories, Weir and Bogumill audited their monthly subscriptions. Splitting costs with their community helps Weir and Bogumill cut costs on subscriptions altogether.

☆ Former Qatari prime minister's son bids for Manchester United
▼ + stars: | 2023-02-18 | by ( ) www.cnbc.com time to read: +1 min

A statue of George Best, Denis Law and Bobby Charlton standing outside Old Trafford, home of Manchester United in Manchester, England. Sheikh Jassim Bin Hamad Al Thani, a son of Qatar's former prime minister, on Friday launched a bid to buy Premier League soccer club Manchester United, whose American owners launched a formal sale process late last year. Sheikh Jassim is the son of Sheikh Hamad bin Jassim bin Jaber Al Thani, who is one of the richest men in the Gulf state. However, Qatari state investors, who own a stake in French champions Paris Saint-Germain, could face challenges structuring a takeover of Manchester United, as rules forbid two clubs with the same owner taking part in the lucrative Champions League. Sheikh Hamad is the owner of PSG and it is unclear how the Qatari bid will be structured.

☆ Son of former Qatari PM bids for Manchester United
▼ + stars: | 2023-02-17 | by ( Anirban Sen | ) www.reuters.com time to read: +3 min

[1/2] Soccer Football - Premier League - Manchester United v West Ham United - Old Trafford, Manchester, Britain - July 22, 2020 General view of the corner flag inside the stadium before the match, as play resumes behind closed doors following the outbreak of the coronavirus disease (COVID-19) Martin Rickett/Pool via REUTERS. Feb 17 (Reuters) - Sheikh Jassim Bin Hamad Al Thani, a son of Qatar’s former prime minister, on Friday launched a bid to buy Premier League soccer club Manchester United, whose American owners launched a formal sale process late last year. A deal for United is expected to shatter records for the sale of a sports business. Sheikh Jassim is the son of Sheikh Hamad bin Jassim bin Jaber Al Thani, who is one of the richest men in the Gulf state. However, Qatari state investors, who own a stake in French champions Paris Saint-Germain, could face challenges structuring a takeover of Manchester United, as rules forbid two clubs with the same owner taking part in the lucrative Champions League.

But without a plan to combat it, debt can harm your credit score, financial stability and future financial prospects. Confront your debtThis may be overwhelming, but one thing about debt: You have to confront it to tackle it. There are two debt repayment strategies that can help you decide: the debt avalanche method and the debt snowball method. Debt avalanche methodWith the debt avalanche method, you focus on the debt with the highest interest rate first. Debt snowballWith the debt snowball method, you focus on the debt with the lowest balance first to build momentum.

The article was one of a series of reports this year by the news agency on Binance's financial compliance and relationship with regulators across the world. Reuters also asked representatives of the local Binance units and affiliates about their relationship with the main Binance exchange. In Italy, Binance's public corporate filings detail just the unit's capital base and its ownership by a separate Binance company in Ireland. The Italian company, Binance Italy S.R.L., has its listed address in a block of shops and apartments in the southern city of Lecce. Just two of the Binance units analysed by Reuters offer more substantial details in their filings.

☆ Read the full memo the CEO of Binance sent to staffers after the exchange was hit by more than $1 billion of withdrawals in a day amid the FTX fiasco
▼ + stars: | 2022-12-15 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +4 min

Shortly after jittery investors withdrew over $1 billion from Binance on Tuesday, its CEO sent a memo to staffers. Changpeng "CZ" Zhao seemed to try to assuage market fears amid the implosion of crypto peer FTX. In the memo, CZ wrote Binance expects "the next several months to be bumpy." Some days we have net withdrawals; some days we have net deposits. Read the full memo Changpeng "CZ" Zhao sent to staff on Tuesday.

LONDON/SINGAPORE, Dec 14 (Reuters) - The head of major crypto exchange Binance said on Wednesday deposits were returning, a day after it saw heavy outflows of cryptocurrencies and halted some stablecoin withdrawals. On Tuesday, blockchain data firm Nansen said Binance saw withdrawals of $1.9 billion in 24 hours, the largest such outflow since June. loadingBinance, the world's largest crypto exchange, also temporarily halted withdrawals of the major USDC stablecoin, citing a so-called "token swap". "Things seem to have stabilised," CEO Changpeng Zhao tweeted. How crypto exchanges such as Binance and its now-bankrupt former rival FTX handle customer deposits has come under close scrutiny from users, regulators and policymakers.

☆ A Librarian Just Bought Her First Home. Now She Needs to Start Saving More.
▼ + stars: | 2022-11-25 | by ( Demetria Gallegos | ) www.wsj.com time to read: 1 min

Sarah Howison turned the key on her first home earlier this month, something she never thought possible while she was still paying off her student-loan debt. But earlier this year, once she had met the conditions, the Public Service Loan Forgiveness program canceled her more than $40,000 in debt remaining. Now the 37-year-old children’s librarian in Cincinnati jokes about having celebrated the “three minutes of debt freedom between the loans and buying the house.” She currently has a $135,000 mortgage with a 7% fixed rate, which she hopes to refinance when rates fall.

☆ Natural disaster-hit countries get automatic debt freeze option
▼ + stars: | 2022-11-09 | by ( Marc Jones | ) www.reuters.com time to read: +2 min

LONDON, Nov 9 (Reuters) - Countries hit by climate change-driven disasters such as flooding and hurricanes will automatically be able to freeze debt payments under new plans laid out by the bond market rule setting International Capital Market Association (ICMA). ICMA's move on Wednesday introduced new "climate resilient debt clauses" (CDRCs) that countries can now plug into the government bonds they sell to raise money on the international capital markets. Any country that uses them will be able to defer their debt payments for a maximum of 2 years, with the aim of giving them enough financial breathing space to provide aid and support to affected populations. "As well as supporting disaster resilience by freeing up cash flow, CRDCs could help avoid the liquidity challenges faced by low-income countries in such circumstances becoming costly payment defaults," ICMA said. ICMA said while technically no country is excluded from using CRDCs, they were likely to be most suitable for low-income countries, Small Island Developing States, or other developing countries particularly vulnerable to climate change.

So in 2018, they used a home equity line of credit to buy their first rental property in cash. While the couple could've saved for a down payment for their rental property, it would've taken months, if not a few years. In choosing the location for their rental property, they looked for a turnkey home that was pretty much move-in ready for tenants. Another perk of having a solid team to take care of their rental properties is the couple rarely needs to travel for in-person visits. All in all, Marques and Shyra are happy they made the decision to purchase their first rental property with a HELOC.

☆ Yellen calls on G20 to boost aid for food insecurity, offers debt freeze
▼ + stars: | 2022-10-11 | by ( Andrea Shalal | ) www.reuters.com time to read: +3 min

She also called on G20 countries to increase financial aid to initiatives such as the Global Agriculture and Food Security Program, to which Washington just gave $155 million, and to avoid all food export restrictions. The United States had announced nearly $10 billion in assistance this year to provide critical support to food-insecure countries, Yellen said. She said G20 members should urge international financial institutions to continue implementing commitments made in their Action Plan to Tackle Food Insecurity. Washington would also support temporary debt service standstills for countries that needed debt relief and sought help under the G20 Common Framework adopted in late 2020, she said. Register now for FREE unlimited access to Reuters.com RegisterEditing by Jacqueline WongOur Standards: The Thomson Reuters Trust Principles.

For years, the LGBTQ+ community has had to focus more on survival than wealth-building. Why we need to build wealth in the LGBTQ+ communityIf you hear words like "wealth" and "investing" and cringe, you're not alone. Here's one: Wealth in our culture means security and power, and the LGBTQ+ community can wield those to make a difference. Here are some tips for building wealth within the LGBTQ+ community. Search for fee-only, fiduciary advisors in your ZIP code, and filter for terms like "LGBTQ family."

☆ You should still apply for student loan forgiveness despite state taxes—here's why
▼ + stars: | 2022-09-17 | by ( Ashton Jackson | ) www.cnbc.com time to read: +4 min

The Biden administration's student loan forgiveness plan lifted a weight off of many Americans' shoulders, with some borrowers eligible to have up to $20,000 in federal student loans forgiven. North Carolina, Mississippi, and Indiana have all decided to tax student loan forgiveness, while states like Minnesota, Arkansas, West Virginia and Wisconsin remain undecided on the issue. Though it may be confusing, student loan forgiveness is still worth it for many borrowers, even if they're taxed. North Carolina A&T graduate Carlos Williams, who currently has $41,000 in student loan debt, agrees. Potential refunds for pandemic paymentsUpdates to the student loan forgiveness plan also allow refunds for some people who continued to pay during the student loan repayment pause that started in March 2020.

It's a good idea to keep your emergency fund in a relatively accessible account, such as a Marcus by Goldman Sachs High Yield Online Savings account or in an Ally Online Savings Account. Ally Bank Online Savings Account Learn More Ally Bank is a Member FDIC. For that reason, you should consider how much of a monthly mortgage payment you can comfortably afford. They also encompass appraisal fees, underwriting fees, home inspection fees, credit check fees and title insurance and title search fees, among other fees. Ally Bank, for example, won't charge an application fee, origination fee, processing fee or underwriting fee.

☆ A couple paid off their $234,000 mortgage in 5 years and are on track to be millionaires in their 30s. Here are the savings and investment strategies they use.
▼ + stars: | 2022-01-08 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +10 min

During that time, they also paid off Brennan's $38,500 in student loans, two cars, an engagement ring, and a bed. Brennan graduated from college in 2014 with a finance degree, a couple of major expenses, and no immediate income. Here's how the couple paid off their six-figure debt and plan to hit a net worth of $1 million in 2022. In June 2021, one of their highest-earning months with Budgetdog, they threw an extra $30,000 at the mortgage, Brennan said. "September was the first month that we didn't have a mortgage and we saved 75% of our income," said Brennan.

At age 27, my dad passed away and I inherited a retirement account from him worth $50,000. I could have used the money to pay off my student-loan debt, but I would have had to pay penalties and taxes on the entire balance. Although I inherited around $50,000 and had roughly the same amount of student-loan debt, I decided to keep most of that money invested instead of paying off my loans in full, and I'm glad I did. I was working as a teacher at the time of my dad's passing and was making more than the minimum payments to more aggressively pay down my student loans. I could have kept that money invested or cashed it out to pay off the rest of my student loans, but there were trade-offs to those options as well.

Our experts answer readers' personal loan questions and write unbiased product reviews (here's how we assess personal loans). But knowing exactly how to use a personal loan to pay off your credit cards is important so you don't end up paying more in the long run. If you are currently dealing with credit card debt and want to pay it off for good, a personal loan might make sense. Once you get yourself on a working budget, follow these steps to use a personal loan to pay off your credit cards. But if you want to consolidate all of those credit cards with a personal loan, you need the same information readily available.

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