card status – Aadhar UID http://aadharuid.in/ Thu, 22 Sep 2022 02:33:15 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://aadharuid.in/wp-content/uploads/2021/10/Icon-120x120.png card status – Aadhar UID http://aadharuid.in/ 32 32 House approves bill to split spousal student debt https://aadharuid.in/house-approves-bill-to-split-spousal-student-debt/ Wed, 21 Sep 2022 23:40:00 +0000 https://aadharuid.in/house-approves-bill-to-split-spousal-student-debt/ The House passed a bill on Wednesday to allow couples who have combined their student loans while married to separate the debt, sending the measure to President Biden and bringing some borrowers closer to eligibility for debt relief. In the 16 years since Congress ended spousal consolidations, borrowers have struggled to find a way to […]]]>

The House passed a bill on Wednesday to allow couples who have combined their student loans while married to separate the debt, sending the measure to President Biden and bringing some borrowers closer to eligibility for debt relief.

In the 16 years since Congress ended spousal consolidations, borrowers have struggled to find a way to break their loans. The short-lived federal program made couples legally responsible for each other’s student debt in exchange for a one-time payment and a lower interest rate. But that made it impossible to break the debt, even in the face of domestic violence or divorce. He also trapped hundreds of people into loans ineligible for debt relief initiatives, including Biden’s recent loan cancellation plan.

Congress renews fight to help those trapped in spouse’s student loans

Wednesday’s 232-193 vote comes three months after the Senate passed the Joint Consolidation Loan Separation Act, introduced by Sen. Mark R. Warner (D-Va.) and Rep. David E. Price (DN.C.).

House Republicans have raised objections to giving the Department of Education more authority over federal loans held by private entities because the bill would turn the debt into separate direct loans held by the federal agency. They also argued that the Senate bill failed to protect both borrowers and could take more than a year to implement.

Representative Virginia Foxx (NC), the top Republican on the House Education Committee, listed her concerns about the bill in the House on Tuesday, calling it “well-intentioned” but “flawed.”

She introduced the alternative legislation this would allow borrowers to immediately split their debt into two loans which would remain in the hands of private entities. Borrowers could then opt to join the direct lending program to become eligible for debt relief. A motion to review Foxx’s bill narrowly failed on Wednesday.

The act of separation approved by lawmakers allows borrowers to split their loans based on the initial proportion of the debt they brought. The two new federal direct loans would have the same interest rates as the joint consolidation loan. Each borrower could also transfer eligible payments made on the joint loan to the Civil Service Loan Forgiveness Program, which clears civil servants’ balances after 10 years of payments and service.

“I am thrilled to see the passage of this common-sense bill that will bring immense relief to borrowers who are victims of abusive or uncommunicative spouses,” Price said Wednesday. “These borrowers have been trapped, with no legal options available, and this bill will give them the opportunity to regain their financial freedom.”

Since 2017, Price and Warner have introduced the bill three times. They broached the issue several years ago after meetings with voters desperate to disentangle their student loans from those of their former partners.

Warner said Wednesday he looked forward to pitching him in front of Biden as soon as possible.

“For too long, individuals have been tied to abusive or insensitive ex-partners through joint student loans,” Warner said. “This legislation provides financial freedom to those who have spent decades unfairly held accountable for their former partner’s debt.”

Between 1993 and 2006, more than 14,700 people combined their debts through the spousal consolidation program, according to federal data obtained by the Student Borrower Protection Center. Many loans have been paid off over time, but there are still about 770 loans left, according to federal data.

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HELOC and Home Equity Loan Rates September 19, 2022 | Expect increases after the Fed meeting https://aadharuid.in/heloc-and-home-equity-loan-rates-september-19-2022-expect-increases-after-the-fed-meeting/ Mon, 19 Sep 2022 21:20:59 +0000 https://aadharuid.in/heloc-and-home-equity-loan-rates-september-19-2022-expect-increases-after-the-fed-meeting/ Editorial independence We want to help you make more informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and allow us to earn a referral commission. For more information, see How we make money. Key points to remember Home equity loan rates were little changed and […]]]>

We want to help you make more informed decisions. Certain links on this page – clearly marked – may direct you to a partner website and allow us to earn a referral commission. For more information, see How we make money.

Key points to remember

  • Home equity loan rates were little changed and home equity lines of credit (HELOC) rates were unchanged last week.
  • Rates are expected to rise after the Federal Reserve raised its benchmark short-term interest rate this week.
  • The impact of the Fed’s decision on HELOC rates will be direct, but the effect on home equity loan rates is less clear, experts say.

It’s about to get more expensive to borrow against the equity in your home.

And you can thank the Federal Reserve, which is expected to raise interest rates again next week in its continued effort to slow rising inflation.

Inflation has been stubbornly high for months. The last Consumer price index showed prices up 8.3% year-over-year in August, which was higher than expected. This will cause the Fed to keep its foot on the accelerator this week when it raises its benchmark short-term interest rate. The Fed is raising rates to calm demand and try to lower prices. When the Fed raises interest rates, banks also raise rates on products such as home equity loans and lines of credit.

“The disappointing consumer price index further underscores why the Fed will remain aggressive in raising interest rates and that higher interest rates will last longer,” said Greg McBride, CFA, chief financial analyst at Bankrate, which, like NextAdvisor, is owned by Red Ventures. .

Fed officials have indicated they are committed to raising interest rates if necessary to bring prices down. So far this year, the central bank has raised its key rate four times, including two consecutive hikes of 75 basis points. Observers expect another 75 point rise this week. “We’re here for as long as it takes to bring inflation down,” Fed Vice Chairman Lael Brainard said in a statement. recent speech.

Because home equity loan rates are based on the cost to banks and other lenders of borrowing money, they will likely see an increase as a result of the Fed’s decision. For home equity lines of credit, the effect will be more direct – their variable rates are often based on an index that mirrors what the Fed is doing.

“HELOC rates in particular will be at the mercy of how much the Fed eventually needs to raise interest rates before inflation is brought under control,” McBride said.

Here are the average home equity loan and HELOC rates as of September 14, 2022:

Type of loan Price for this week Last week’s price Difference
$30,000 HELOC 6.51% 6.51% nothing
10-year $30,000 home equity loan 7.08% 7.06% + 0.02
Home equity loan of $30,000 over 15 years 7.04% 7.01% +0.03

How these rates are calculated

These rates come from a survey conducted by Bankrate, which, like NextAdvisor, is owned by Red Ventures. Averages are determined from a survey of the top 10 banks in the 10 major US markets.

How does the Federal Reserve affect home equity loans and HELOCs?

Home equity loans and HELOCs are similar in that you use the equity in your home — the difference between its value and what you owe on your mortgage and other home loans — as collateral to borrow money. ‘silver. This means that if you don’t repay, the lender can foreclose on your home.

How you borrow that money is very different.

Home Equity Loans

Home equity loans are usually simple: you borrow a set amount of money, get it all in one lump sum, and then pay it back in payments over a number of years at a fixed interest rate. Home equity loan rates are based on your credit risk and the cost to the lender of accessing needed cash.

The rate the Fed should raise is a short-term rate that affects what banks charge each other to borrow money. This hike will increase costs for banks, potentially leading to higher interest rates on products such as home equity loans.

HELOC

HELOCs are less straightforward. Your lender approves you for a line of credit, similar to a credit card, which is secured by the equity in your home. You have a limit on how much you can borrow at one time, but you can borrow, repay, and borrow more until your draw period ends. You will only pay interest on what you borrow, but the interest rate is usually variable and changes regularly based on market rates.

Many HELOCs have variable rates that follow the preferential ratewhich changes at the same time as the Fed’s reference rate.

Pro tip

When choosing between a home equity loan or a HELOC, consider whether you need the money all at once or will need to withdraw it over a period of time. A HELOC is more flexible if you don’t know exactly what you will need or when you will need it.

Home equity loans and HELOCs are becoming increasingly popular

Consumers are increasingly turning to home equity loans and HELOCs, and one of the main reasons is that other ways to turn your home equity into cash have become less attractive. Besides selling your home, the other great way to do this is through a cash refinance, but that doesn’t make as much sense in a time when mortgage rates are higher than they used to be. been since 2008.

Homeowners still have plenty of equity as house prices are still near record highs, despite a slowing housing market. And with the possibility of a looming recession, many are looking for ways to ensure they have financial options to fall back on during tough times.

“As economic uncertainty begins to set in, home equity loans and HELA are a very powerful tool because they essentially allow you to take what would otherwise only be possible by selling your home or refinancing at a much higher, Nima Ghamsarico-founder and director of Blend, a fintech company.

While the uncertain future of the economy has some people thinking about the Great Recession, Ghamsari says there are several differences between today and yesterday when it comes to home equity loans – which have been one major drivers of the 2008 crash. Home values ​​are expected to remain high due to the limited supply of homes and lending standards are much higher as lenders check borrowers’ ability to pay and limit the amount of equity that you can exploit. Many lenders require a significant buffer as to the value of the home that can be borrowed.

“Home values ​​are safer and people put a buffer and they do things like check your financial situation,” Ghamsari says.

When should you consider tapping into your home equity?

Home equity loans and HELOCs have some specific advantages over other forms of debt. Because they are collateralized by property, they tend to have lower interest rates. HELOCs have particular appeal in cases where you’re unsure how much money you’ll need, and some owners keep one on hand to ensure they can access cash. if they need it. “It almost becomes like a second bank account for them in their pocket,” Ghamsari says.

The most common use of home equity loans and HELOCs is for home improvements – you borrow against your equity for something that should, at least somewhat, increase the value of your home.

Experts say you should be careful when considering home equity loans or HELOCs for certain uses. One of them is debt consolidation. This can be attractive, as the rates for home equity loans and HELOCs are lower than those for credit cards and personal loans. Some experts say there are other ways to consolidate debt — using a balance transfer credit card or cash refinance — that don’t involve as much risk.

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Things you didn’t know you could do with a personal loan https://aadharuid.in/things-you-didnt-know-you-could-do-with-a-personal-loan/ Sun, 18 Sep 2022 05:13:18 +0000 https://aadharuid.in/things-you-didnt-know-you-could-do-with-a-personal-loan/ Personal loans are installment loans with fixed monthly payments. Although they generally require you to have a good credit score to qualify, they can be a great choice for consumers who need some flexibility in how they spend their money. Personal loans also tend to have lower annual percentage rates, or APRs, than traditional credit […]]]>

Personal loans are installment loans with fixed monthly payments. Although they generally require you to have a good credit score to qualify, they can be a great choice for consumers who need some flexibility in how they spend their money.

Personal loans also tend to have lower annual percentage rates, or APRs, than traditional credit cards. According to The latest data from the Federal Reservein May 2022, the average interest rate for a 24-month personal loan was 8.73% while the average APR for interest-bearing credit cards (for cardholders who carried a balance) was 16, 65%.

If you’re considering taking out a personal loan to cover medical bills, home repairs, or other expenses, Select provides a more detailed look below at what you can and cannot use to pay for a personal loan.

Subscribe to the Select newsletter!

Our top picks delivered to your inbox. Shopping recommendations that help you improve your life, delivered weekly. register here.

A few caveats about personal loans

What can personal loans be used for

Beginner personal loans

  • Annual Percentage Rate (APR)

  • Purpose of the loan

    Debt consolidation, credit card refinancing, marriage, moving or medical

  • Loan amounts

  • Terms

  • Credit needed

    FICO or Vantage score of 600 (but will accept applicants whose credit history is so poor that they have no credit score)

  • Assembly costs

    0% to 8% of target amount

  • Prepayment penalty

  • Late charge

    Greater of 5% of monthly amount past due or $15

LightStream Personal Loans

  • Annual Percentage Rate (APR)

    3.99% to 19.99%* when you sign up for autopay

  • Purpose of the loan

    Debt consolidation, renovation, car financing, medical expenses, marriage and more

  • Loan amounts

  • Terms

  • Credit needed

  • Assembly costs

  • Prepayment penalty

  • Late charge

Fees to know

There are several fees associated with personal loans that you should be aware of. For starters, you might encounter late fees if you don’t make your payment on time or prepayment penalty fees, intended to discourage borrowers from prepaying their loan, if you manage to repay your loan before the term of the loan term. ends.

Finally, there may be a an origination fee, or fee for making the loan, which is usually represented as a percentage of the loan and deducted from the original loan amount. Origination fees can vary from 1% to 5% and many lenders do not charge any origination fees, such as Marcus by Goldman Sachs Personal Loans and LightStreammentioned above.

Also select rated PenFed Personal Loans and Discover personal loans among the best personal lenders based on several factors, including no origination fees, no prepayment penalty fees, and the length of the approval process.

PenFed Personal Loans

  • Annual Percentage Rate (APR)

  • Purpose of the loan

    Debt consolidation, home improvement, medical bills, car financing and more

  • Loan amounts

  • Terms

  • Credit needed

  • Assembly costs

  • Prepayment penalty

  • Late charge

Discover personal loans

  • Annual Percentage Rate (APR)

  • Purpose of the loan

    Debt consolidation, home improvement, wedding or vacation

  • Loan amounts

  • Terms

    36, 48, 60, 72 and 84 months

  • Credit needed

  • Assembly costs

  • Prepayment penalty

  • Late charge

At the end of the line

There are very few things personal loans can’t pay for. However, it’s still important to check the fine print and terms of your loan, as using it for prohibited expenses could force you to pay it back immediately.

Check out Select’s in-depth coverage at personal finance, technology and tools, The well-being and more, and follow us on Facebook, instagram and Twitter to stay up to date.

Editorial note: Any opinions, analyses, criticisms or recommendations expressed in this article are those of Select’s editorial staff alone and have not been reviewed, endorsed or otherwise endorsed by any third party.

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Don’t Make These 5 Common Car Rental Mistakes https://aadharuid.in/dont-make-these-5-common-car-rental-mistakes/ Fri, 16 Sep 2022 08:08:47 +0000 https://aadharuid.in/dont-make-these-5-common-car-rental-mistakes/ manpeppe / Shutterstock.com Editor’s Note: This story originally appeared on Live on the cheap. When renting a car, you might think that having an accident is the only thing that could cost you money. But while accidents are sometimes unavoidable, there are other mistakes that can cost you money when driving a rental car. These […]]]>
manpeppe / Shutterstock.com

Editor’s Note: This story originally appeared on Live on the cheap.

When renting a car, you might think that having an accident is the only thing that could cost you money. But while accidents are sometimes unavoidable, there are other mistakes that can cost you money when driving a rental car.

These include not taking pictures of your car before and after the duration of your rental, not scheduling an additional driver, and not understanding the economics of rental cars.

When a photo is worth a thousand dollars

See separately / Shutterstock.com

“Always take photos of all sides of the cars and inside the car to document any damage before pick-up and after drop-off,” says Michael Stalf, managing director of Myonecar, a German car rental company.

Why take vacation photos of your car? Because your car rental company probably won’t. If he finds damage to your vehicle, he will hold you responsible. By the way, if you find a dent, dent, or scratch on your car when you pick it up, make sure that’s documented in your paperwork as well. Or better yet, ask for another vehicle.

Additional driver, extra charge

happy driver
Ground Image / Shutterstock.com

Renters also tend to forget that car rental companies charge high fees for additional drivers. For example, Hertz charges $13.50 per day, a maximum of $189 per rental, for each additional driver. Julie Demaret, director of car rental company Rhinocarhire, says you need to think about the additional driver before renting.

“If you want to share the driving, try to find an offer with an additional free driver,” she explains. “It’s always cheaper to book in advance than on arrival.”

Find cheaper rental coverage online

Hands typing on laptop keyboard
panitanphoto / Shutterstock.com

And watch out for upsells. For example, insurance can add $20 or more per day to the cost of your rental. But you can get car rental coverage for about half that from a traditional travel insurance company. Allianz Travel Insurance offers a product called Rental Car Damage Protector for $11 per day. The insurance site iCarhireinsurance.com, which is operated by Halo Insurance, even sells a policy that covers you for up to $1,200 for improperly fueling your car.

Ways to find a vehicle when cars are not available

Couple shopping online
JLco Julia Amaral / Shutterstock.com

Also, make sure you understand the tricks of the trade. Car rental companies are busy during the summer. Nicole Gustas, a frequent Boston traveler, couldn’t find a rental car in Los Angeles recently, so she used a strategy that became popular last summer: She rented a U-Haul truck for two days . Then she found an SUV through Enterprise in a remote location off the airport.

“We wanted an economical car,” explains Gustas, marketing director for an insurance company. “But beggars can’t choose.”

Don’t be surprised by the high costs

Stressed man surprised in his car
tommaso79 / Shutterstock.com

But perhaps the biggest mistake you can make when it comes to your rental car is underestimating your budget.

“Be prepared to spend the money,” warns Robert Walden, editor of VehicleFreak.com, a car care site. “Due to shrinking fleets, deferred vehicle maintenance and many other factors, rental cars are in short supply today.”

Walden says higher prices aren’t the only thing to worry about. Vehicles will be scarce, following last summer’s shortage of rental cars. That means some of us won’t even be lucky enough to make these common car rental mistakes.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click on links in our stories.

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experts warn of the risks of debt settlement offers https://aadharuid.in/experts-warn-of-the-risks-of-debt-settlement-offers/ Wed, 14 Sep 2022 03:00:00 +0000 https://aadharuid.in/experts-warn-of-the-risks-of-debt-settlement-offers/ INDIANAPOLIS – The current climate of inflation and high prices is apparently pushing Americans to rely more often on credit cards. According to Lending Tree, Americans had a total credit card balance of $887 billion in the second quarter of 2022. That was a jump of $46 billion from the first quarter of the year. […]]]>

INDIANAPOLIS – The current climate of inflation and high prices is apparently pushing Americans to rely more often on credit cards.

According to Lending Tree, Americans had a total credit card balance of $887 billion in the second quarter of 2022. That was a jump of $46 billion from the first quarter of the year.

“National statistics show that credit card debt is starting to rise,” said Andy Mattingly, chief operating officer of Forum Credit Union.

During the COVID-19 pandemic, Mattingly says credit card debt has declined as many Americans have found help from government relief funding programs. Now credit card balances are back to 2019 levels.

“People come in and say ‘Oh my God, I can’t believe where my balance is’ and ‘I have to find a way out of this,'” Mattingly said.

Faced with growing balances and low monthly payments, many people are turning to different strategies to get out of debt. In addition to budgeting and cutting expenses, credit consolidation and counseling are offered by a number of financial institutions and non-profits and are generally seen as effective ways to deal with high balances.

However, Mattingly says you should be careful before accepting offers from debt “settlement” companies.

“A lot of debt settlement companies will talk and use the term consolidation, which financial institutions use,” Mattingly said. “But as you start to look, they’re like, ‘We’re going to get settlements for you.’ And that’s the key phrase that I think you really want to pay attention to when you start seeing this.

Here is a typical example of an offer from a debt settlement company:

Let’s say you owe $20,000 in credit card debt. A debt settlement company may offer to work with your lenders and negotiate the total up to $12,000.

“They’re trying to reduce some of that debt and they’re going to tell you to stop paying your creditors because we want to find a settlement,” Mattingly described. “Well, you start racking up late fees and your credit score can start to get hurt because it can take them 90-120 days to fix it.”

After the company negotiates a settlement of $12,000, you will need to repay that amount to the settlement company. However, the company could also charge you a 25% fee, adding another $3,000 you owe. Although it looks like you’ve saved $5,000 on your debt, the costs don’t end there.

Credit card lenders are likely to “charge” the $8,000 taken out of the initial $20,000 as a bad or irrecoverable loan. And that counts against you.

“If these financial institutions cancel some of these loans, it will remain in your credit for seven years,” Mattingly warned.

What could be a 100 point impact on your credit score could cost you dearly later.

“Let’s say you need a new car,” Mattingly said. “Maybe you could qualify for, say, 5%. But now your credit score is so bad that you now have to pay 12% or 13% for that car loan.

“Depending on the type of car, you might now be paying $100 more per month for a car loan than you could have gotten cheaper,” he continued.

It is important to know that credit settlement companies cannot guarantee the type of settlement they will be able to reach with your lender. If you decide to search for a debt settlement company, you can search for them by name on the websites of Better Business Bureau, Attorney Generaland agencies like Consumer Financial Protection Bureau.

If budgeting and cutting costs aren’t enough to get rid of your credit card balances, Mattingly recommends considering credit consolidation, counseling, and credit management as safer options. You may also be able to transfer your credit card balance to another card offering 0% interest during an introductory period. The key to this strategy would be to pay off the balance within an interest-free window.

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External debt sustainability and fiscal consolidation are imperative, difficult and demanding | Print edition https://aadharuid.in/external-debt-sustainability-and-fiscal-consolidation-are-imperative-difficult-and-demanding-print-edition/ Sun, 11 Sep 2022 00:47:19 +0000 https://aadharuid.in/external-debt-sustainability-and-fiscal-consolidation-are-imperative-difficult-and-demanding-print-edition/ Views) : While external debt sustainability is a condition for obtaining IMF assistance, the immediate reduction of the budget deficit and its gradual reduction are essential for economic stabilization and economic recovery. IMF agreement Although a staff-level agreement has been reached with the International Monetary Fund (IMF) to secure an Extended Financing Facility (EFF) of […]]]>

Views) :

While external debt sustainability is a condition for obtaining IMF assistance, the immediate reduction of the budget deficit and its gradual reduction are essential for economic stabilization and economic recovery.

IMF agreement

Although a staff-level agreement has been reached with the International Monetary Fund (IMF) to secure an Extended Financing Facility (EFF) of $2.9 billion over the next four years, this will only be provided only after external debt sustainability has been demonstrated.

Debt sustainability

This external debt sustainability condition must be met in order to obtain the approval of the PAF by the IMF’s Executive Board. Reaching an agreement with the country’s foreign creditors on the sustainability of external debt to obtain the first tranche is difficult.

China

An agreement among creditors on debt restructuring appears difficult due to China’s reluctance to restructure its outstanding debt. This is due to its principle of non-restructuring of loans. China is however ready to help us with other loans. Hopefully a way will be found to circumvent this obstacle.

Budget deficit

The immediate reduction of the budget deficit and its gradual reduction over the next few years are essential for economic stabilization and economic recovery. This must be achieved through both increased taxation and reduced spending, which many will oppose.

Opposition

Insofar as the government, pragmatic economists and enlightened opinion, are aware that the bailout of the IMF is imperative to solve the current economic crisis, several political parties and a large part of the population oppose asking for help from the IMF in because of the conditions attached to these loans.

No alternative

Although those who oppose an IMF bailout have no pragmatic alternative, they remain opposed to obtaining an IMF loan facility. This opposing position is politically popular, as the IMF is portrayed as an institution that imposes conditions that impose hardship on people.

Price increase

For example, there is opposition to the IMF condition that imported products, such as petrol, diesel, gas and wheat flour, must be sold at cost. Therefore, when international prices rise and the rupee depreciates, prices rise sharply. Opposing such a price policy is popular.

Privatization

Another clear example of such opposition is the privatization of public enterprises. Political parties, trade unions, a majority of parliamentarians and the people are firmly opposed to the privatization of a large number of loss-making public enterprises.

Political parties

As highlighted in previous columns, Sri Lanka Podujana Peramuna (SLPP), the ruling party which controls a comfortable majority in Parliament, is opposed to privatization. Paradoxically, it is the main opposition party, the Samagi Jana Balawegaya (SJB), which may be in favor of privatization.

Other parts

Most political parties oppose the privatization of public enterprises and present it as a sale of the people’s assets. The burden of these loss-making companies on the people is never mentioned.

An unrealistic prospect

Parties that have not been in power conveniently say that when they come to power, they will transform state enterprises into for-profit enterprises generating revenue for the government.

Budget deficit

The immediate reduction of the budget deficit and its progressive reduction in the coming years are vital for economic stabilization and for the economic recovery of the island. This objective must be achieved both by increasing revenue and by reducing expenditure.

Loss-making state enterprises

Eliminating or sharply reducing public enterprise losses is an important means of reducing expenditure. Rationalization and reduction of public spending are needed immediately.

Strategy

Fiscal consolidation or the reduction of the budget or the budget deficit must go through a dual strategy of increasing revenue and drastically reducing expenditure on the other hand. Both strategies would be politically unpopular and administratively difficult. However, they are imperative.

Crucial

Fiscal consolidation is the most important, difficult and ambitious task of the budget that will be presented by the government in November. This is the most difficult task and politically the most difficult.

Waiting

The expectation of a reduction in the budget deficit to 5.6% of GDP must be achieved by increasing revenues, recoveries and limiting reckless spending cuts. The central task of the next budget for 2023, which should be presented in November, is to drastically reduce the budget deficit.

In conclusion

The gradual reduction of budget deficits is imperative for the recovery, recovery, reconstruction and development of the economy. Quite apart from the fact that fiscal consolidation is a condition for IMF assistance, it is a prerequisite for economic stability and growth. Unfortunately, it is also the most difficult and politically difficult task.

The immediate reduction of the budget deficit and its gradual reduction over the next few years are vital for economic stabilization and growth. Hopefully, the budget deficit for 2022 will be reduced to 9.6% of GDP thanks to spending revisions and increased revenues resulting from the proposed tax measures.

Next Sunday

Next Sunday’s column will discuss a pragmatic strategy to reduce the budget deficit through a progressive and efficient tax system to achieve the government’s target of 5.3% of GDP in 2025.

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Advice from the Better Business Bureau: Beware of debt consolidation offers https://aadharuid.in/advice-from-the-better-business-bureau-beware-of-debt-consolidation-offers/ Sun, 04 Sep 2022 09:28:26 +0000 https://aadharuid.in/advice-from-the-better-business-bureau-beware-of-debt-consolidation-offers/ With the impact of COVID-19 on daily life greatly reduced, student borrowers whose repayments have been suspended due to the pandemic may be considering their options for resuming payments on this life-changing debt. This may lead some borrowers to look into debt consolidation, but it’s important to research these options carefully and not give in […]]]>

With the impact of COVID-19 on daily life greatly reduced, student borrowers whose repayments have been suspended due to the pandemic may be considering their options for resuming payments on this life-changing debt.

This may lead some borrowers to look into debt consolidation, but it’s important to research these options carefully and not give in to the temptation to look for a quick fix that could turn out to be a scam.

After a recent action by the Biden administration, federal student loan repayments remain suspended without interest until Dec. 31. receive up to $20,000 in pardons. Consumers should beware of scammers who take advantage of the news by offering bogus ways to apply for loan forgiveness.

Better Business Bureau Scam Tracker received over 500 reports of debt relief and credit repair scams in North America in 2021. These scams cost consumers a reported total of over $283,000, the median consumer losing $600. Most often, these reported scams involved payment by bank account debit.

Upfront fees, including fees to enter a repayment plan, are a common thread among debt relief scams. These upfront charges are illegal. Loan repayment assistance – including loan deferrals, forbearance, repayment, and forgiveness or release programs – is available directly from the Department of Education and Loan Services, and application for these programs is always free.

Some scam companies ask consumers to sign a power of attorney for financial decisions, use it to suspend the consumer’s loans – a way to temporarily stop or reduce payments, during which the loans continue to earn interest – and require the consumer to make payments directly to them rather than to the loan officer. In reality, the company keeps the payments for itself and the forbearance eventually expires without any repayment progress.

Borrowers seeking student loan relief should consider the following tips:

• Do your research on the company and the options available to you. BBB business profiles on debt consolidation and other businesses are available at BBB.org or by calling 888-996-3887. These include customer complaints and how they were handled, customer reviews, and an A+ to F grade.

• Do not pay upfront fees to debt repayment companies. If a rescue company asks for money before helping you, report it to BBB.

• Think twice before signing a power of attorney or giving a company your bank account information or your federal student aid website login information. These actions allow a company to make potentially devastating financial decisions for you.

• Don’t agree to a long-term abstention or adjournment plan without doing your homework. These should only be seen as temporary solutions.

• Don’t be fooled by promises of quick relief. The loan relief and forgiveness options available through the Department of Education still require years of payments, and these loans cannot be canceled by bankruptcy.

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Do retirees really need $300,000 for health care? Probably not https://aadharuid.in/do-retirees-really-need-300000-for-health-care-probably-not/ Sat, 03 Sep 2022 00:25:48 +0000 https://aadharuid.in/do-retirees-really-need-300000-for-health-care-probably-not/ A popular estimate of retiree health care costs may be misleading, if a new study is accurate. For more than two decades, Fidelity Investments has published an annual estimate of health care costs for retirees. He estimates that the average 65-year-old couple retiring now and enrolled in Original Medicare can expect to spend $315,000 on […]]]>

A popular estimate of retiree health care costs may be misleading, if a new study is accurate.

For more than two decades, Fidelity Investments has published an annual estimate of health care costs for retirees. He estimates that the average 65-year-old couple retiring now and enrolled in Original Medicare can expect to spend $315,000 on health care and medical expenses in their remaining years.

Fidelity’s estimate is based on a hypothetical scenario rather than actual spending data. New research from Retirement Research Center at Boston College, based on actual data, comes up with a much lower figure for out-of-pocket expenses: $67,260, on average, for a 65-year-old couple who can use a variety of options for health care coverage. health .

The CRR study found that these out-of-pocket expenses account for about one-fifth of total retirement healthcare expenses. The rest is covered by Medicare (64%), Medicaid (10.7%) and other insurers (3.7%). Medicare is the federally run insurance program for people over 65 and generally requires patients to pay premiums and deductibles. Medicaid is a federal state assistance program for low-income patients of all ages administered by state and local governments under federal guidelines, which usually covers all costs.

The CRR study is based on Medicare and Medicaid records as well as a long-running nationally representative health and retirement survey. This information was supplemented with data from insurers for people with Medicare Advantage plans, the other type of Medicare coverage with Original Medicare. Therefore, it covers a wider range of scenarios than Fidelity’s estimate and is based on actual spending by real people.

A drawback of the CRR study, however, is that its data sources only include information up to 2012. This means that they do not take into account the last decade of inflation or the evolution of health care trends.

For a direct comparison, in 2012, Estimated loyalty her hypothetical couple would need $240,000 to cover medical expenses until retirement. This is still 3.5 times the CRR estimate.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click on links in our stories.

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What is Drought Tolerant Landscaping? https://aadharuid.in/what-is-drought-tolerant-landscaping/ Tue, 30 Aug 2022 08:03:56 +0000 https://aadharuid.in/what-is-drought-tolerant-landscaping/ Artazum / Shutterstock.com Editor’s Note: This story originally appeared on LawnStarter. Whether you live in an arid climate or are committed to water conservation, drought-resistant landscaping may be right for you. In this article, you will learn what it is, why it is beneficial, and which plants you should consider for such landscaping. Drought-tolerant landscaping […]]]>
Artazum / Shutterstock.com

Editor’s Note: This story originally appeared on LawnStarter.

Whether you live in an arid climate or are committed to water conservation, drought-resistant landscaping may be right for you. In this article, you will learn what it is, why it is beneficial, and which plants you should consider for such landscaping.

Drought-tolerant landscaping allows a yard to thrive with low water through the use of native, drought-tolerant plants and grasses. Drought-tolerant plants have evolved to maximize the amount of water they take in and minimize the amount they lose.

It’s important to note, however, that even drought-tolerant plants will still need extra care and extra water as they acclimate to your garden.

Here’s an overview of what you’ll need and the types of plants that are suitable for drought-tolerant landscaping.

Drought-tolerant landscaping versus xeriscaping

Drought Tolerant Southwestern Landscaping with Succulents in Southern California
Simone Hogan / Shutterstock.com

If you live in the west, you’ve probably heard of xeriscaping — a term that combines the Greek prefix “xero,” meaning “dry,” with landscaping. LawnStarter has an excellent Beginner’s Guide to xeriscaping, but in short, xeriscaping is popular in many arid regions and is a type of drought-tolerant landscaping that often involves replacing lawn with rocks, mulch, walkways and species that are drought-tolerant drought.

However, drought-resistant landscaping is not just for dry areas. Of Mediterranean climates in California to the lush Blue Ridge Mountainsmany homeowners use drought-resistant landscaping to reduce water usage and adapt their yard to its native climate.

Why Drought Tolerant Landscaping Makes Sense

Couple saving money
Monika Wisniewska / Shutterstock.com

Drought resistant landscaping is a smart idea for your garden for many reasons.

You will save money. Reducing the need for water in your garden means you won’t have to spend as much to keep it green.

You will save time. Imagine the hours you’ll recover that you would otherwise have spent standing outside with a garden hose!

You will stay cool in summer and warm in winter. A well-planned, drought-tolerant landscape will increase shade in hot weather, and in winter, it will protect your home from cold winds.

Your front yard will stay cool. Drought-resistant landscaping increases curb appeal during drought conditions, especially during severe drought when local ordinances restrict water use.

It’s good for the environment. Your ecosystem will thank you for drought-prone landscaping. It can reduce soil erosion and stormwater runoff, and it removes pollutants and carbon dioxide from the atmosphere.

Landscaping supplies

Garden bed with mulch
Ozgur Coskun / Shutterstock.com

Before filling your garden with plants, make sure you have what you need to keep your landscape drought tolerant. These supplies will take your garden to the next level.

  • A smart watering system. This water sprinkler system will automatically adjust to local weather conditions to water your garden as needed.
  • A drip irrigation system. If you don’t prefer sprinklers, this is another irrigation option for a drought-tolerant yard. Unlike sprinklers, drip irrigation uses a network of tubes and valves to “drip” water into your garden for a high-efficiency, largely imperceptible watering system.
  • Rocks. Large or small stones can be used with sand instead of lawn grass, or in garden beds or rockeries as a decorative feature.
  • Mulch. Another grass replacement option, mulch keeps your garden tidy and keeps weeds away.

Drought-tolerant native plants

Senior woman in her garden
Jacob Lund / Shutterstock.com

From ground covers and garden flowers to bushes and trees, there are many aquatic plants to choose from for a drought-tolerant landscape.

The native plants in your area are often naturally water efficient for several reasons:

  • Native plants can develop deeper roots than non-native plants. This allows the plants to retain more water.
  • They have adapted to thrive in the conditions typical of your hometown. There are all kinds of drought-tolerant garden designs, but native species have an evolutionary advantage when it comes to your garden. This also means that they are often perennial!
  • They won’t need much watering aside from rain once they become established in your garden.

Looking for good native plants for your drought tolerant landscape? Look up your zip code in Audubon Society’s native plant database for ideas.

Delicious

Boots recycled in planter
Bildagentur Zoonar GmbH / Shutterstock.com

Succulents are having a big time in gardening and landscaping, and for good reason: their fleshy leaves and stems store a lot of water, which means they often don’t need much more than rain. . Succulents can be grown in outdoor containers, rock gardensand well-drained sandy soil.

Here are some popular succulent plant families for drought-tolerant landscaping:

  • Echeveriaincluding Black Prince and Blue Rose
  • Sedumssuch as broadleaf stonecrop and creeping sedum
  • Evervivacold hardy plants including Green Wheel and Royal Ruby
  • Kalanchoelike the panda bear and the desert rose

Bushes

California flannel in the yard
Mariusz S. Jurgielewicz / Shutterstock.com

If you’re looking for something a little bigger than a succulent, there are plenty. drought resistant bushes available. Many of these species are native to the United States and hardy all year round.

These drought-tolerant shrubs may be right for you:

  • Shrubby St. John’s wort (Hyperium prolificum)
  • Virginia Sweetspire (Itea virginica)
  • Bayberry (Myrica pensylvanica)
  • California flannel (Fremontodendron californicum)

Trees

holly leaf cherry
Gurcharan Singh / Shutterstock.com

Want to escape the summer heat and relax in the shade? Drought-tolerant trees are your friends. These low-maintenance species have grown to handle the heat regardless of the weather.

  • Hollyleaf Cherry (Prunus ilicifolia)
  • American smoke (Cotinus obovatus)
  • Washington hawthorn (Crataegus phaenopyrum)
  • Ginkgo (Ginkgo biloba)

Drought tolerant grasses

Cynodon dactylon, drought tolerant Bermudagrass
Le_CLIC / Shutterstock.com

Lawns can need a lot of supplemental watering, especially because many homeowners don’t have native grass species in their yard. These drought-tolerant grasses make lawn care easier:

  • Sandberg bluegrass (poa second)
  • tall fescue (Festuca arundinaceae)
  • bermuda grass (Cynodon dactylon)
  • Zoysiagrass (Zoysia tenuifolia)

Ornamental grasses

Drought Tolerant Blue Fescue and Karl Foerster Lawn Decor
Kathryn Roach / Shutterstock.com

For accents and variety, try these drought-tolerant types:

  • blue fescue (glaucous festuca)
  • stiff panic (Panicum virgatum)
  • feather reed (Calamagrostis × acutiflora)
  • big squirrel (Elymus multisetus)

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click on links in our stories.

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How to protect yourself against loan forgiveness fraud https://aadharuid.in/how-to-protect-yourself-against-loan-forgiveness-fraud/ Sat, 27 Aug 2022 20:40:02 +0000 https://aadharuid.in/how-to-protect-yourself-against-loan-forgiveness-fraud/ White House sets timeline for student loan application and forgiveness process Bharat Ramamurti, deputy director of the National Economic Council, gives details on the timeline for applying for student loan forgiveness during the August 26 White House press briefing. Law enforcement is warning student borrowers to be on the lookout for scammers as they seek […]]]>

Law enforcement is warning student borrowers to be on the lookout for scammers as they seek debt relief under President Biden’s new plan.

More than 40 million Americans could see their student loan debt reduced — and in many cases eliminated — as part of the pardon plan announced by Biden on Wednesday. Biden writes off $10,000 in federal student loan debt for those with incomes below $125,000 a year or households earning less than $250,000. It waives an additional $10,000 for those who received federal Pell grants to attend college.

Cancellation applies to federal student loans used to attend primary and higher school, in the same way Parent Plus Loans. Current university students are eligible if their loans were issued before July 1. For dependent students, their parents’ household income must be less than $250,000.

RELATED: Georgia man wiped out $48 million in student loans with disabled veterans scam, officials say

With new government aid comes new potential scammers – here are some tips from the Michigan Office of the Attorney General and the United States Department of Education on how to avoid potential student loan forgiveness scams and thefts.

Tips for Avoiding Student Loan Scammers

  • Do not provide your personal or financial information in response to unsolicited emails, phone calls, or text messages purporting to be from the federal government or a company claiming to be able to help you get advertised assistance.
  • Do not agree to pay anyone for help in order to get that help.
  • Don’t be in a hurry. To entice you to act quickly, scammers say you could miss out on qualifying for repayment plans, loan consolidation, or loan forgiveness programs if you don’t sign up right away. Take your time and check it out.
  • Do not give your FSA ID. Some scammers claim they need your FSA ID to help you, but don’t share your FSA ID with anyone. Dishonest people could use this information to access your account and steal your identity.
  • Review your financial aid offers and keep track of the amounts you applied for and received.
  • Keep receipts and documents (for example, credit applications or offers, checks and bank statements) containing personal information in a safe place and destroy them when you are finished.
  • Beware of student debt relief companies that charge fees up front or claim they will eliminate all your debt immediately.
  • Look for grammar and spelling errors in emails and text messages.

The Associated Press contributed to this report.

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