Finance – Lost Nomad http://lostnomad.org/ Fri, 15 Apr 2022 16:41:37 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 http://lostnomad.org/wp-content/uploads/2021/05/lost-nomad-icon-150x150.png Finance – Lost Nomad http://lostnomad.org/ 32 32 Julian Edelman: How much the 2019 Super Bowl Patriots MVP makes http://lostnomad.org/julian-edelman-how-much-the-2019-super-bowl-patriots-mvp-makes/ Thu, 11 Mar 2021 06:22:45 +0000 http://lostnomad.org/julian-edelman-how-much-the-2019-super-bowl-patriots-mvp-makes/

Super Bowl MVP awards go to the top performing player in the game – and naturally the trophy tends to be dominated by the best and highest paid players in the NFL. The 2019 Super Bowl MVP went to the Patriots’ Julian Edelman, who may be one of the best receivers in playoff history – but he’s not far off the list of the NFL’s best players paid.

Julian Edelman, who has now had outstanding performances in three Super Bowl wins for the Patriots, wasn’t even among the top 50 highest-paid players for his job this season.

The 2019 Super Bowl literally set lameness records: the Patriots’ 13-3 victory over the Rams was the Super Bowl with all-time lowest scorewith recordset for categories like fewest touchdowns (one) and lowest combined score over three quarters (six points).

But New England Patriots wide receiver Julian Edelman was particularly brilliant in one of the Super Bowl’s most boring games. After hitting a game-high 10 receptions for 141 yards, Edelman was named the 2019 Super Bowl MVP.

How much does Julian Edelman earn? The Super Bowl MVP’s cash earnings totaled $2.4 million last season, making him the 68th-highest-paid wide receiver and 561st-highest-paid player in the league, according to the earnings-tracking website. professional sports contracts. Spotrac.com. Edelman’s earnings in 2018 would have been $3 million had he not been suspended the first four games of the 2018 NFL season for testing positive for performance-enhancing drugs.

Patriots quarterback Tom Brady is receiving plenty of accolades for his incredible six Super Bowl championships — all the more amazing considering he was an unprecedented sixth-round draft pick. But Brady’s teammate Julian Edelman now has three Super Bowl championships, and he’s been exceptional in all three games. Like Brady, Edelman was overlooked on draft day, which probably isn’t surprising. Edelman is just 5’10”, he didn’t play in a college football powerhouse, and he didn’t even play wide receiver in college. He played instead Kent State quarterbackand his athleticism and competitiveness was enough for the Patriots to give Edelman a chance, selecting him in the seventh round of the 2009 draft.

The unprecedented success of Tom Brady, now considered the GOAT (the greatest of all time), has led him to cash in: he is regularly one of the highest paid players in the NFL, earning around 29 million dollars in salary, bonuses and endorsements this year. last year, according to Forbes.

It’s a whole different story for 32-year-old Julian Edelman. And given Edelman’s outstanding performance in the biggest games, there’s an argument that he’s seriously underpaid.

For all of the 2019 playoffs, Julian Edelman finished with a total of 26 receptions for 388 yards in three wins for the Patriots, according to NFL.com. That’s averaging nearly nine catches and 130 yards per game — which are Worthy of the Hall of Fame statistics.

In his first Super Bowl victory in 2015, against the Seattle Seahawks, Julian Edelman also had a great game, accumulating 109 yards and nine catches, including what resulted in the championship-winning touchdown. Two years later, in the 2017 Patriots Super Bowl vs. Falcons, Edelman had five catches and 87 yards — nearly identical to the Falcons’ Super Bowl stats. Julio Joneswho is considered the best wide receiver in the NFL over the past decade and is generously paid for that.

Plus, Edelman pulled off one of the most memorable Super Bowl catches of all time in that 2017 title game against the Falcons — the so-called “ankle hold” that turned a near-interception into a critical completion of a dramatic draw for the Patriots.

After his 2019 Super Bowl MVP performance, Julian Edelman has a total of 115 playoff receptions, good for second place in NFL history behind the all-time great. Jerry Rice (151). Even before the 2019 Super Bowl, Edelman also clinched the NFL record for most punt returns in the playoffs.

Will Julian Edelman ever make the kind of money these impressive stats indicate he appears to be worth? We will have to wait and see.

Edelman is under contract with the Patriots until the end of next season. At that point, he’ll be 33, which is considered old for a wide receiver — especially for an aggressive undersized slot receiver like Edelman, who’s been hit and injured more than most.

If Julian Edelman cashes in on a big contract, he may not come from the Patriots. The franchise has a long history of letting players go as they get older and ask for more money. This even goes with fan-loved star receivers, as Wes Welkerwho left the Patriots in 2013 to sign with the Denver Broncos.

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How to wash your workout and sports clothes – Which one? News http://lostnomad.org/how-to-wash-your-workout-and-sports-clothes-which-one-news/ Thu, 11 Mar 2021 06:22:15 +0000 http://lostnomad.org/how-to-wash-your-workout-and-sports-clothes-which-one-news/

We’re all allowed unlimited outdoor exercise, so you could make better use of your workout clothes.

First published: May 27, 2020

Most sportswear is made from synthetic fabrics, such as acrylic or polyester, which means you need to wash it slightly differently than the rest of your wardrobe.

Read on for our top tips for cleaning your workout gear to keep it in pristine condition.


Go to our exercise equipment guide and yoga equipment guide to find out how to set up a workout space in your home.


1. Let sweaty clothes breathe before washing

It’s very tempting to dump all your sweaty, smelly clothes in the wash basket as soon as you’re done, but that’s not a good idea.

Without space to breathe and for sweat to evaporate, odor and bacteria can linger longer and get worse, as well as being even harder to get rid of.

2. Turn the clothes inside out

Odor bacteria will accumulate wherever it is warm and humid. As such, your armpits are their favorite breeding ground.

Also, antiperspirants and deodorants can build up in the armpits of your workout clothes.

To give your washing machine the best chance of removing all of this, turn your clothes inside out before putting them in the machine for a wash.

It will also help protect your favorite items from pulling and snagging.

3. Use less detergent

If your clothes smell bad, it’s very tempting to get overly enthusiastic and use a lot of detergent. But too much will cause product to build up on your clothes.

This detergent buildup acts as a breeding ground for bacteria, quickly creating lingering odors.

Sometimes your clothes smell great when they come out of the washing machine, but quickly become smelly when you wear them. This is because bacteria multiply due to your body heat, and the humidity helps create the perfect environment for them.

Try to use half the detergent you would normally use.

And if your clothes are already suffering from this problem, add between 100ml and 250ml of white vinegar (depending on the size of the load) to a rinse cycle. Then wash the clothes as usual.


Find the best detergent by reading our Opinions on laundry detergents and detergents


4. Do not use fabric softener

Unlike natural fabrics, synthetic fibers do not need fabric softener.

In fact, fabric softener can build up on some clothes and cause bacteria to persist in certain areas.

This bacteria can make your clothes smell more easily. So even after washing and smelling good initially, the item will start to smell bad soon after wearing it for a while.

If you’re washing spandex, you’ll also want to avoid fabric softener like the plague. It will simply stay on your clothes and leave a residue that can dull the finish and attract smelly bacteria.

5. Avoid heat for stretchy items

Heat breaks down the spandex in the stretchy parts of your clothes, including leggings.

Remember to go down to 30°C or up to 20°C when washing to keep your clothes in good condition.

Our recent low temperature washing survey found that if you use liquid detergent, it should still clean well.

If you want to iron your sportswear, we advise you to choose a low temperature and avoid stretchy parts.

6. Know how to reduce microplastics

Every time you wash synthetic clothes, you release thousands of tiny plastic fibers called microplastics.

But there are ways to reduce our impact.

  • Wash your synthetics separately and remove hard fabrics like denim.
  • Choose a cycle that uses less water, such as an eco cycle. You can normally find the water consumption of the different programs in the instruction manual.
  • Invest in a laundry bag that protects your clothes and collects microplastics

To learn more about microplastics and the damage they cause, read our article on how to stop the plastic in your clothes from polluting the planet every time you do your laundry.

7. No clothes dryer!

It makes sense, if you avoid heat while washing, to also avoid it while drying.

The harsh, dry heat of a clothes dryer will deteriorate the spandex of stretchy leggings or short waistbands.

Instead, let your gym air dry on an air rack or clothesline to better protect the fibers and help them last longer.


Discover what is the best way to dry your laundry.


How to clean your exercise or yoga mat and towel

Man practicing yoga at home

Depending on the composition of your yoga mat or towel, it may be machine washable.

Many yoga towels, designed for use during hot yoga, are made from microfiber and can go in the washing machine on cold.

For hard rubber yoga mats, you will need to wipe them down with a disinfectant to clean them and prevent odors from developing.

Avoid using harsh chemicals or scrubs as this may damage the rubber or plastic of the mat and cause it to peel over time.

For more tips, read our full yoga mat and accessories buying guide.

How to wash boxing gloves

Unfortunately, no matter how bad your boxing gloves smell, get dirty, or sweat, you shouldn’t put them in the washing machine or dryer.

Heat and water damage the leather of the gloves. While saturation may cause mold and mildew to develop during the long drying time.

But all is not lost; you can prevent odors in the first place by wiping the gloves with a cloth after each use and spraying on a disinfectant (designed for sportswear).

To let odors escape, leave the straps open so air can circulate and don’t leave your gloves in a bag between uses.

To find out how to wash everything from bras to Uggs, read our comprehensive guide explaining how best to wash your clothes.

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Why Michaels Stock Jumped Today http://lostnomad.org/why-michaels-stock-jumped-today/ Thu, 11 Mar 2021 06:22:02 +0000 http://lostnomad.org/why-michaels-stock-jumped-today/

What happened

michaels (MIC) Shares continued to dazzle investors today as the arts and crafts retailer posted another strong quarter of earnings, buoyed by demand for home hobbies during the pandemic and improving of its e-commerce operations.

As of 12:53 p.m. EDT, the stock was up 13.5%.

Image source: Getty Images.

So what

Comparable sales, the most important measure for discretionary retailers like Michaels, surged again, rising 16.3% in the third quarter. That pushed overall revenue up 15.1% to $1.41 billion, just ahead of estimates of $1.39 billion.

What was even more impressive was the company’s performance lower in the income statement, as earnings for the quarter surged. Gross margin fell from 36.1% to 41.4%, showing the company benefited from occupancy costs and had fewer markdowns, and adjusted operating profit climbed 72% to 201, $6 million. Adjusted earnings per share more than doubled from $0.40 to $0.86, easily beating estimates of $0.59.

CEO Ashley Buchanan said the strong performance was “driven by strong consumer demand, better retail execution and continued progress against our strategic initiatives”, and added, “our expanded omnichannel capabilities, our manufacturer-centric branding and increasingly personalized marketing has resonated well with customers.”

Now what

Michaels declined to offer advice, but the company appears well positioned for the holiday season, given its recent strategic investment moves and rising coronavirus cases, which should boost demand for art and handicrafts as well as gifts related to hobbies.

Michaels has been one of the biggest surprise stories in retail this year, but the company is expected to experience some headwinds as the pandemic ends as Americans focus on activities outside the home like travel , dining out and live entertainment. Even with this risk, the stock still looks very cheap, trading at a price-earnings ratio below six. If the company can retain the new customers it attracted during the crisis, it should be well positioned for long-term growth.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a high-end advice service Motley Fool. We are heterogeneous! Challenging an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and wealthier.

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Verizon to buy prepaid phone vendor Tracfone for up to $6.9 billion http://lostnomad.org/verizon-to-buy-prepaid-phone-vendor-tracfone-for-up-to-6-9-billion/ Thu, 11 Mar 2021 06:19:45 +0000 http://lostnomad.org/verizon-to-buy-prepaid-phone-vendor-tracfone-for-up-to-6-9-billion/

Estimated reading time: 1-2 minutes

This news archive is available for your personal, non-commercial use only. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute republication of the story.

Verizon, the nation’s largest phone company, is buying prepaid phone vendor Tracfone for up to $6.9 billion, expanding its business with low-income customers.

Tracfone, a subsidiary of Mexican telecommunications giant America Movil, is the largest mobile phone retailer in the United States. It doesn’t build its own network, but pays fees to companies like Verizon, AT&T and T-Mobile to use theirs. Nearly two-thirds of Tracfone’s 21 million US customers get their service from Verizon through Tracfone leasing Verizon’s network.

Most US cellphone customers are “postpaid” rather than prepaid – they pay a monthly phone bill. Prepaid customers are more likely to be low income or have bad credit. Tracfone is a major provider of the US service Lifeline, which offers discounts on phone and internet services for low-income customers. Verizon said Monday it would continue to offer Lifeline through Tracfone.

The deal consists of $3.1 billion in cash, $3.1 billion in stock and up to an additional $650 million in cash for America Movil based on the Tracfone business meeting certain performance targets after the sale.

Verizon said it expects the deal to close in the second half of 2021. Regulators must approve it.

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Associated Press writer Mark Stevenson contributed from Mexico City.

Copyright © 2020 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More stories that might interest you

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Clean your patio with a pressure washer http://lostnomad.org/clean-your-patio-with-a-pressure-washer/ Thu, 11 Mar 2021 06:19:44 +0000 http://lostnomad.org/clean-your-patio-with-a-pressure-washer/

Using a pressure washer to clean your patio and walkways will make them look much better and prevent them from becoming dangerously slippery to walk on.

A pressure washer is much faster, easier and more efficient than using a scrub brush and hose, but only if you know how to do the job properly. You’ll also need to make sure you’re using the right washer – too powerful and you’ll damage the surface, too weak and the dirt won’t budge.

Watch our video below to learn how to approach the job effectively.


Get more out of your gardenreceive our free gardening newsletter to get the best advice from our experts


Video: how to clean your terrace with a pressure washer

How to clean your patio with a pressure washer

  1. Make sure your hose is securely attached to the faucet.
  2. Turn on the hose then release the wand trigger until the water flows freely before turning on the power.
  3. Install the appropriate spear – most have a simple bayonet fitting. The pump will not run until you pull the trigger.
  4. Make sure all connectors are tight and there are no leaks.
  5. Work from one edge or corner of the decking, brushing dirt away from you in a sweeping motion.
  6. If necessary, use the highest setting or the rotating wand to move embedded dirt and grime.
  7. Rinse using lower pressure.

Take a look at our picks best pressure washers and expert buying advice the best of which for patios.

How do I clean my terrace without a pressure washer?

You can clean your deck by applying a liquid deck cleaner and scrubbing with a firm broom.

The result may not be as good and it requires a bit more muscle strength, but it costs a lot less than buying a pressure washer.

How can I get rid of weeds in the cracks of my patio?

If you’re happy to use chemicals, there are path weed killers that, in addition to killing existing weeds in the cracks of your patio, will prevent new ones from growing for several months afterwards.

Alternatively, if you prefer to avoid them due to their impact on the environment, you may prefer to remove them by hand. Long-handled wire brushes make the job of weed removal between tight spaces less grueling.

Be sure to keep the mortar between the slabs in good condition and replace any that are removed over time, as this will reduce the space available for weed growth.

Useful features of the pressure washer for cleaning the terrace

Pressure washing a terrace
  • Variable jet nozzle: it will make it much safer to clean different parts of the patio without causing damage.
  • Long pipe: so you don’t have to move it while you clean.
  • Wheels: to make it easier if you need to move it.

Can I use my pressure washer with a water collector?

Some expensive pressure washers can use water from a water butt (or rain tank), but most are only designed to use mains water.

Karcher sells a special vacuum hose with an optional filter for many of its models. Costing around £34, this filter allows the washer to use water from a rain tank.

You will find information on the characteristics of each pressure washer in our pressure washer review.

Using your pressure washer safely

  • Pay attention to the first jet of water that comes out of the pressure washer when you first turn it on. There may be a strong initial spray, so aim the nozzle at the ground first.
  • Never use a rotating (or tornado) nozzle when cleaning block paving or between slabs as it will be too strong and could damage the pointing between them.
  • Do not use heavy spray on areas where the paving is chipped as this may cause more damage.

Is your pressure washer ready for an upgrade? Head straight to our roundup of best pressure washers.

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‘No Penalties, No Late Fees, No Bad Credit’: Lawmakers Propose Local Relief for Renters, Mortgages | Local News http://lostnomad.org/no-penalties-no-late-fees-no-bad-credit-lawmakers-propose-local-relief-for-renters-mortgages-local-news/ Thu, 11 Mar 2021 06:19:44 +0000 http://lostnomad.org/no-penalties-no-late-fees-no-bad-credit-lawmakers-propose-local-relief-for-renters-mortgages-local-news/

Guam residents who haven’t paid their rent because they lost income during the coronavirus pandemic should have their overdue payments reversed, says Sen. Clynt Ridgell, who introduced a bill that would reverse the payments rent to landlords and also suspend mortgage payments to lenders.

Renters and mortgagors would approach the Guam Banking and Insurance Commission for relief under the “Pandemic Rent and Mortgage Relief Program.” Bill 355-35 is co-sponsored by five lawmakers, including Speaker Tina Muna Barnes.

Governor Lou Leon Guerrero has banned residents from being evicted during the public health crisis, but Ridgell said there could be “mass evictions” when the emergency declaration expires and residents will owe their landlords months of rent arrears.

Payment agreements would be maintained

The proposed relief package would allow mortgagors to suspend their mortgage payments and tenants to cancel their rent payments, an amount equal to the income they have lost due to the public health emergency.

Those receiving relief would be required to continue their existing payment arrangements after the public health emergency ends, without being required to pay rent or a higher mortgage amount.

Lenders would be required to extend the term of mortgages, without penalty.

The proposed change would be added to Guam’s existing mortgage law. This law allows the Commissioner of Banking and Insurance to revoke licenses or seek civil penalties against violators.

‘No penalties, no late fees, no bad credit’

“Landlords are also struggling to pay their mortgages because many of their tenants cannot afford to pay their rent,” Ridgell said of the mortgage suspension. “No penalties, no late fees, no bad credit and no foreclosures.”

“Essentially what we’re saying with this bill is that it’s as if the months of lockdown haven’t happened. It’s a pause in mortgage payments. Then when the urgency of public health is over, you can resume normal monthly payments at the same monthly amount you were paying before the pandemic,” Ridgell said. “It’s like you decide to stop paying your loan for a few months, but when you start to pay, there are no late fees, no penalties, no payment plans to make up for missed months, and no effect on your credit score.”

This article originally appeared on Pacific Daily News: ‘No penalties, no late fees, no bad credit’: Lawmakers propose local relief for tenants and mortgagors

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Trump’s coronavirus stimulus package could cut your paychecks in 2021 http://lostnomad.org/trumps-coronavirus-stimulus-package-could-cut-your-paychecks-in-2021/ Thu, 11 Mar 2021 06:19:43 +0000 http://lostnomad.org/trumps-coronavirus-stimulus-package-could-cut-your-paychecks-in-2021/

Americans have been waiting months for Congress to approve a second coronavirus stimulus check, but the chances of that happening are slim as Republicans recently proposed a “skinny” relief bill without another check (a proposal that was blocked in the Senate). President Trump took action on his own recently amid stalled negotiations by signing a Executive Decree allowing employers to defer the collection of payroll taxes between September 1 and December 31, 2020 for employees earning less than $104,000 per year.

Employees normally pay a 6.2% payroll tax on earnings up to $137,700 in 2020 to fund Social Security. Thanks to the presidential decree, those whose employers refuse to collect the tax over the next few months will see their wages increase a little. But a payroll tax deferral is not the same as a payroll tax cut. And while Trump has promised unpaid taxes could eventually be forgiven if he’s re-elected, it’s unclear whether Congress would agree (especially as Democrats are likely to retain control of the House). representatives) or if he could find another authority to do so. .

Since there’s a good chance the payroll tax waiver won’t happen, it’s important to realize that the bill could come due (and sooner than you think) for the president’s stimulus package.

Image source: Getty Images.

Your paychecks could be smaller next year due to Trump’s coronavirus relief

Workers who see bigger paychecks this year because their employers stop withholding payroll taxes will be in for a nasty surprise on January 1.

Indeed, any employer who fails to withhold payroll taxes over the next few months could be necessary to collect the amount of unpaid tax between January 1 and April 30, 2021. And if any taxes remain unpaid after the April 30 deadline, interest and penalties will begin to accrue immediately on May 1, 2021.

This could be a major financial shock for workers, as two things will happen from January:

  • Trump’s payroll tax deferral will end and your employer will resume collecting the 6.2% you would normally pay into Social Security
  • Your employer will probably have to start collecting the extra 6.2% that you didn’t pay between September 1 and December 31 of this year.

So you’re looking at paychecks that decline by a combined 12.4% from the first of the year, compared to the last paycheck you received in December. And while you’re only paying taxes owed anyway, it can still look like a big drop in household income if you’ve gotten used to bigger paychecks in the previous four months. Suddenly seeing small checks never does any good, especially during a recession when every dollar counts.

Of course, Trump’s executive order does not to require employers to defer collection of payroll taxes, so your company may simply withdraw. If that happens, you won’t benefit from the coronavirus stimulus now since your checks won’t be bigger – but you won’t have to pay the piper later and face double payroll deductions.

If your employer has not stopped withholding payroll taxes, you don’t have to do anything. But if you find your paychecks are higher now because your employer isn’t collecting the 6.2%, the smartest thing you can do is put the extra money in the bank. You’ll need it next year when your checks dwindle, unless Trump wins reelection and finds a way to persuade Congress to cancel the taxes owed.

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Who is the holder of the lien on my vehicle? http://lostnomad.org/who-is-the-holder-of-the-lien-on-my-vehicle/ Thu, 11 Mar 2021 06:19:43 +0000 http://lostnomad.org/who-is-the-holder-of-the-lien-on-my-vehicle/

A car lien holder is usually the financial institution you borrowed from to finance a car. We review what you can do to remove the lien if you need to sell the vehicle.

Find your lien holder information

Your preferred creditor is the lender who gave you a loan to buy the car. If you don’t know who the lien holder is, it could be as simple as removing the title from the vehicle. Car titles have the owner’s name and the lien holder information written on it.

If you don’t have the title, you may be in a title-holding state. The majority of states are, meaning the state holds title until the loan is paid in full.

If you want to know who the lien holder is but you don’t have the title, you can contact your local DMV or the Secretary of State (SOS) and give them your Vehicle Identification Number (VIN), as well as the make and model.

Your VIN is usually located on the driver’s side dash where it meets the windshield, where it’s etched on a metal plate. It’s a unique sequence that only your car has. In some states, you can also request a replacement title from the DMV or SOS, for a fee.

Remove the title lien holder from your car

Privilege can be removed after the loan is repaid, and you cannot sell or transfer ownership to anyone until the lien is removed. This is because the lien holder, like you, has ownership rights to the vehicle. Until the loan is paid off, the car remains the property of the lender, as they loaned you the funds to purchase the vehicle. It also means that if you loan defaultor miss payments, the lien holder may take the car back.

Once you have paid for your vehicle, the lien is removed and you get a lien release letter from the lender. Once you have release, you are in the clear! You can either get a new title with the lien holder removed or keep the lien release letter with the car title.

If you haven’t repaid your auto loan and want to trade in or sell a vehicle, you need to ask the lender for a refund. This amount contains your remaining balance on the loan, and usually 10 days of additional interest (to give the lender time to receive the refund). Once you’ve secured payment, you or the buyer can write a check to the lender so the lien can be released. Once the lien is removed, ownership of the car can be transferred.

Looking to trade in your car?

Now that you know how to find out who your lien holder is, you can work towards successfully selling or trading in your vehicle. And if you have credit problems but need another car, we want to help!

AT Auto Express Credit, we connect borrowers with bad credit to specialist dealers who work with subprime lenders. These lenders use more than just a credit score to make lending decisions, and they help borrowers in all types of unique credit situations.

To get matched with a dealership with bad credit loan options, fill out our free form car loan application form. We will immediately look for a dealer in your area!

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Increase your credit score by requesting a credit limit increase http://lostnomad.org/increase-your-credit-score-by-requesting-a-credit-limit-increase/ Thu, 11 Mar 2021 06:19:42 +0000 http://lostnomad.org/increase-your-credit-score-by-requesting-a-credit-limit-increase/

Image for article titled Increase your credit score by requesting a credit limit increase

Picture: Shutterstock

If you want to increase your credit score, you need to make timely payments on all your debts, keep your credit card balances low, and wait for all that good credit history to slowly increase your score over time. Law?

Well, as the Motley Fool reminds us, there’s an oft-overlooked step you can take if you want to improve your credit score fast: request a credit limit increase.

When you ask your existing creditors to increase your line of credit, you are simply asking them to increase your credit limit and extend more credit to you.

This can have a positive impact on your credit utilization ratio, which is one of the most important components of your credit score. Credit utilization rate is second only to payment history and represents 30% of your score in Fair Isaac Corporation’s FICO® score formula.

As Motley Fool’s Christy Bieber explains, many people don’t realize they can contact their credit card company and ask for a credit limit increase. (Many banks even let you apply online, so you won’t have to wait with customer service.) This type of application usually doesn’t involve a strain on your credit, which means it doesn’t It probably won’t hurt your credit rating and if a credit limit increase is granted, you can expect an increase in your credit rating.

Of course, this score boost will go away if you turn your credit boost into new debt, so don’t spend your extra credit. Instead, use it to keep your credit utilization rate as low as possible and your credit rating as high as possible.

Then you can go back to your usual routine of on-time payments and low balances, and continue to build your credit history until you finally get that perfect credit score.

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3 investments that could drain your money and where to invest instead http://lostnomad.org/3-investments-that-could-drain-your-money-and-where-to-invest-instead/ Thu, 11 Mar 2021 06:19:42 +0000 http://lostnomad.org/3-investments-that-could-drain-your-money-and-where-to-invest-instead/

The stock market is a great way to build wealth, but investing in the right places is crucial. It can be difficult to separate the smart choices from the dangerous ones, but it can help you avoid financial disaster.

Although all investments carry some degree of risk, some are much riskier than others. By avoiding the following three types of investments, you can protect your money to a great extent.

Image source: Getty Images.

1. Penny stocks

Penny stocks trade at under $5 per share, and many are priced under $1. The types of companies that issue penny stocks are usually small businesses and are not usually listed on major stock exchanges.

Penny stocks are risky for a variety of reasons. First, their prices can fluctuate wildly. Small companies tend to be more volatile than larger companies, so it’s common for penny stock prices to fluctuate up and down.

Additionally, it can be difficult to research penny stocks before investing in them. Smaller companies often don’t have a long track record, so it’s hard to predict whether a stock will do well based on the information available. For these reasons, penny stocks are best suited for investors with a high tolerance for risk and uncertainty.

Where to invest instead: A smart alternative to penny stocks is to buy fractional shares. As the name suggests, investing in fractional shares means that you only buy a small portion of a share. This makes it much more affordable to invest in expensive stocks and allows you to buy shares of big companies for just a few dollars. Because you are investing in large companies with strong track records, fractional shares are much safer than penny stocks.

2. Risky companies with high dividend yields

Dividend-paying stocks can be a smart investment, but it’s important to make sure you’re looking at the big picture and not just the dividend yield.

Just because a company pays a large dividend doesn’t mean it’s a wise investment. Some companies may boast of a high dividend yield, but the company itself does not grow. Or perhaps the dividend has steadily declined year over year, indicating that the company is in financial trouble.

If you find yourself chasing after dividends, you could end up inadvertently investing in a risky business. And no matter how much you receive in dividends, it’s not worth putting your savings at risk.

Where to invest instead: If you’re looking to invest in healthy companies with high dividend yields, your best bet is to focus on Dividend Aristocrats. These are companies that have consistently increased their dividends for at least 25 consecutive years. Many of the organizations on this list are household names, such as Coca Cola and Johnson & Johnsonand have proven themselves.

3. IPOs

Initial public offerings (IPOs) are when companies first issue shares to the public. IPOs often create a lot of buzz, but they can be risky because there is so much uncertainty surrounding them.

It can be difficult to predict how a stock will perform when it’s brand new to the market. Plus, it’s easy to let emotion get the better of you with an IPO. Some companies are hyped before they go public and then they underperform. Example: When Lyft went public in early 2019, it gained substantial hype. Immediately after its IPO, however, its stock price began to fall and it ended up falling about 43% by the end of the year.

Where to invest instead: Rather than jumping on new stocks as soon as they hit the market, aim for companies that have been trading on public markets for at least a year. While these companies may still be risky, you’ll get a better idea of ​​how the stock is performing. It will also give you more time to investigate a business’s finances to decide if it is a solid long-term investment.

Choosing the right investments can be difficult, so doing your due diligence is crucial. By avoiding some of the riskier types of investments and making more stable choices, you can limit your risk while maximizing your gains.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a high-end advice service Motley Fool. We are heterogeneous! Challenging an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and wealthier.

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