MEMPHIS, Tenn. – This is called modern redlining, practices that discriminate against a potential buyer based not on their income or credit history, but on their race.

Even when applicants qualify for a mortgage, the so-called American dream is still out of reach.

FOX13 has learned that the mortgage rate gap between black and white applicants is shocking.

In fact, black applicants are denied mortgages at a rate 84% higher than white applicants.

RELATED: FOX13 Discovers Undervalued Homes in Black Neighborhoods

This means home ownership is simply out of reach for many.

For many black candidates, the ultimate goal is to own a home.

But, it’s the process of having good credit, high scores, less debt and down payments that closes the door for some.

“It was stressful, very stressful,” contestant Desiree Washington said.

“The whole process had become very stressful and I wanted to get it over with,” contestant Jeffery Hampton said.

Washington and Hampton are two examples of black applicants with good jobs and decent credit. Washington said that between having a good job, a high 500 credit score, providing all the documents, sorting out his credit and dipping into his 401,000 for the down payment, the process was still grueling.

“The underwriting process of buying a home has got to be the most stressful part because it separates your whole life. They dig into every aspect of your home like everything,” Washington said.

Hampton lived in an apartment and nearly walked away from the deal. His credit score was close to 600, but it took him nine months to get a mortgage.

“I didn’t think I would be turned down that many times and I thought I had pretty good credit and found out I was being lied to about some things,” Hampton said.

Again, he has decent credit, never filed for bankruptcy, and had a substantial down payment.

According to the Home Mortgage Disclosure Act, nearly 20% of black applicants are denied a mortgage. This is the highest among all races. Currently, Black home ownership is up 44% from the recent low of 40%, but the highest level ever is 49.7% and that was in 2004.

The report shows that most black applicants are turned down because they have bad credit or too much debt.

“When they look at us, and the first thing they say is they raise the bar, and then they say ‘Well, he can’t get this because of this’, but the same person working the same job of a different color can achieve that,” Hampton said.

FOX13 sat down with real estate broker Travis Patterson. He had clients with OK credit and many with high scores, but they were always turned down.

“Fifteen years from now, how often do you see someone, there might be some discrimination or there might be some redlining? How often do you see that? All the time, every year,” Patterson said. .

He said the rejection rate for his black customers was at least 3 to 1, if not more.

For those customers, he said, the problem often includes income disparities, credit difficulties and loans from big banks.

“Their guidelines are totally different from those of a local lender or broker. I see people with good credit, good income and they don’t follow retail banking guidelines whatever that means and they get a turndown,” Patterson said.

According to HMDA, in 2020, Wells Fargo approved less than half of black homeowner refinance applications.

It’s the disparity.

* Wells Fargo approved 72% of white applicants versus 47% of black applicants.

“When someone applies for a mortgage, the system may approve it, but it may be information on a background check or a title search that may not show up on a credit report, so which results in customer rejection,” Patterson said.

He admits that many clients are unclear about the impact of income, student loans, car bills, credit card debt, payday loans and child support, even though they don’t include closing costs and how much you actually pay per month.

“Taxes, insurance and mortgage insurance; So the consumer will look at that and say, ‘I can afford $1,000 a month,’ but you get a lender and their $1,400 a month,” Patterson said.

He works directly with local lenders to help his clients who are often approved immediately.

“Local lenders have a bunch of programs that they have to use and get rid of a lot of money. So they can produce more mortgages to get more people into homes,” Patterson said.

Patterson said anyone who wants a home should have the ability to determine the key to qualifying for a mortgage based solely on their credit history, not their race.

“I deserve a house. I deserve a nice home. I deserve it like anyone else. Don’t rely on the color of my skin to explain why you didn’t,” Hampton said.

There are currently several resources to help home buyers.

There are FHA, VA, Fannie Mae, and Freddie Mac loans.

You can also consider using your 401-k or creating a savings app to help with the down payment and closing costs.

©2022 Imagicomm Memphis, Inc.

Living from paycheck to paycheck can be very overwhelming. You’re under so much pressure on how you’re going to pay for everything you’re supposed to pay, so you forget to enjoy life. Unfortunately, there is a high percentage of people who live this way. It can become even more stressful if the person is constantly running out of money before the next paycheck.

Finding a way to stop running out of money before payday is often easier said than done. But, what if we could tell you that it is possible? In this article, you’re going to find great tips that will help you reach payday without scraping the bottom of your bank account.

Ask yourself: why am I always short of money?

First of all, you need to summarize how you spend the money. You need to be open and very honest about your financial situation. First, pay attention to your drinking habits. However, don’t judge yourself if you notice that you are spending more money on certain things than you are supposed to. Having an overview of your spending will give you a chance to grow your bankroll management strategies and save money. Also, once you start the process of spending your money, it will get you to the root of your money leaks.

Get a payday loan for bad credit

If you really have a problem collecting money before payday, you can always turn to FlashApply and get payday loans with bad credit. First of all, you should know that this is a completely legal way to get money in a fast and very convenient way. Best of all is the fact that it is available in almost every state. The procedure is incredibly simple, it can be done in a few short steps. You must be at least 18 years old to apply for this type of personal loan credit. The second requirement is that you must be a resident of the state in which you are applying for the loan. Finally, you will need to provide some of your personal information which you can check in the link above. In short, a bad credit payday loan will definitely save you a lot of stress and help you overcome financial hurdles.

Take a closer look at your monthly budget

If you find yourself constantly running out of money between paydays, you definitely need to create a strategy for managing your bankroll. This means you need to budget every dollar you have and see where your money is going. Your main goal is to start by tracking all your expenses. By doing this you will be able to identify potential reductions. By tracking your money, you’ll probably notice that you’re giving too much money for unnecessary things. You gotta get serious when it comes to your budget and approach cutting expenses in a reasonable way that will help ensure that your expenses stay within your income limits.

This way, you won’t find yourself in the situation of spending more money than you can actually afford to spend. You can, for example, reduce your spending on entertainment. Also, if you find out that you really can’t cover all the important things with your income, you will at least identify the extent of your shortfall. Specifically, you’ll be aware that cutting some things and managing your budget won’t solve your problems, so you’ll be able to start to focus on manufacturing some other changes. If you’re lucky enough, you’ll find that it’s possible to reduce how you spend money in certain key areas and eventually have enough money to pay all your bills. If you’re not lucky enough, your goal is to stay on budget and make sure your money lasts as long as possible without unnecessary spending. It would be wise to put your money in different envelopes that are named after specific categories. Once you’ve put money in the envelope, don’t open it.

You can reduce your fixed expenses

We understand that it is very difficult for many people to reduce their budget enough to meet their income. Indeed, reducing some expenses will lead to a reduction in the pleasure of the budget. The reality may be that you won’t have anything for entertainment, clothes, gym or anything else after paying all your bills. The solution isn’t to cut all the fun things out of your long-term life. In fact, there’s a much easier way to make budget cuts than cutting all the things you enjoy. We are talking about reducing fixed expenses. Chances are your rent, mortgage, car payment, or anything else in the fixed expense group are your biggest monthly bills.

So if you focus on them and find a way to cut one down, you’ll only have to make one big change instead of giving up all of your entertainment habits. Plus, it means you can get a cheaper car, find a roommate if you’re paying rent, or move to a cheaper part of town. We understand that things like this can take a big tweak. However, it won’t be that hard to adapt to it once you realize how much you can benefit from it. You will finally have money to pay all your bills each month without worrying and stressing about collecting the money.

Find out about government benefits

You may qualify for a special government program that can make a huge difference in helping you pay all your bills. For example, you can see if you qualify for SNAP benefits, Temporary Assistance for Needy Families, Medicaid, or specific state, county, or local programs. Finally, if you are not qualified for one of the programs mentioned, you can always decide to increase your income by taking up some side activities.

We’ve all come across an unexpected expense from time to time.

Key points

• 60% of Americans couldn’t cover a $400 emergency expense without going into debt.
• If you need cash fast and your bank offers payday advances, it might be worth looking into.
• A personal loan has other advantages, however, such as a higher borrowing limit and a lower interest rate.

Many of us have been there. You had a car accident, and now you have to pay the mechanic to fix it. This unexpected expense will cost you a few hundred dollars, and like 60% of Americans, you are not able to cover it with your savings. Moreover, you only have money left for the bare necessities in your current account, and your next payday is several days away. What should you do?

You have a few options in this situation. Read on to learn more about bank payday advances versus personal loans, and how to decide which is right for you.

What is a salary advance?

A payday advance loan from a bank or box is called a small loan. These are loans of an amount generally between $100 and $1,000, granted by a bank to account holders. The intention is to give consumers an alternative to predatory payday loans (see below) when they are in a financial bind. If your bank offers them, you’ll get the money you need quickly and pay it back from your next paycheck via direct deposit, or over a period of weeks or months. You will have to pay a fee (either a fixed dollar amount or a small percentage of what you borrow) and interest for the service.

You may soon hear more about payday advances; a Bloomberg Law report in early October 2022 noted that federal regulators want banks to be able to offer them, but banks need more guidance from regulatory agencies moving forward. Personal loans, on the other hand, are already reliably available for your emergency borrowing needs.

What is a personal loan?

A Personal loan is a fairly easy way to borrow a lump sum of money. They usually come with lower interest rates than many other quick cash solutions, like credit cards or payday loans (and certainly lower than payday loans). However, if your credit is not in top shape, you may not be eligible for the best personal loan rates available.

Personal loans are generally in the amount of $1,000 to $100,000, and can often be funded fairly quickly after your application is approved. In some cases you can get the money the same day or the next day. Is there another way to borrow money quickly? Yes, but you probably want to stay away.

Try to avoid payday loans

Although it may seem counterintuitive (after all, there’s “payday” in the name), it’s a good idea to avoid payday loans. And depending on where you live, they may be illegal in your area; they have been banned in 13 states and the District of Columbia. Payday loans are small, short-term loans of $500 or less, usually with a very high interest rate.

As of 2022, typical payday loan rates range from 28% to 1,950%. These loans often trick consumers in a cycle of debt from which they cannot easily escape. Can’t repay your loan on your next payday? That’s fine, the lender will turn it into a new payday loan for you! How nice of them. Your best choice is probably a payday loan or a personal loan.

How do you choose?

There are a few things to consider when choosing between a payday advance and a personal loan.

How much money do you need?

A payday advance loan, if you can get one from your bank or credit union, is probably best for borrowing smaller amounts. If your auto repair bill is $350, but the smallest personal loan amount you can take out is $1,000, that’s not ideal. If your surprise expense is larger, you’ll likely get a better interest rate with a personal loan (plus payday advances from your bank may be capped at $500).

How fast do you need it?

If you can wait a few days and have good credit, you may be better off with a personal loan – again, because of interest rates. That said, if your bank offers payday advance loans, they might approve you fairly quickly if you’re an existing customer in good standing. It has already registered you and can access your finances in the form of your bank account(s). Plus, your bank can easily send the money you borrow directly to your account.

How long do you need to pay it back?

This is where a personal loan probably has the advantage. You will have more time to repay a personal loan (months to years) than a payday loan (weeks to months). But again, a lot depends on the amount of money you need to borrow.

Payday advance loans and personal loans have their place, and if you ever get into trouble and need to borrow a relatively small amount of money, both are worth considering. However, it is definitely in your best interest to avoid payday loans.

According to a study by the government-backed Money and Pensions Service, young people are twice as likely to turn to high-interest payday lenders than not-for-profit community lenders.

Friends and family were the main source of loans for the 25-34 age group, with 26% saying they would turn to ‘close contacts’.

Meanwhile, 19% said they would consider payday lenders or other high-cost short-term credit if needed.

Only 5% of respondents said they would consider borrowing from nonprofit lenders such as credit unions.

Additionally, the non-profit financial organization Fair4All estimates that there are 7.7 million people aged 18-34 who are financially vulnerable, accounting for nearly half of the 17.6 million estimated adults living in these conditions.

Lauren Peel of Fair4All Finance told This Money: “We’re seeing people who already feel like they’ve cut back and are still overdrawn every month.”

“But they have goals and are ambitious about where they want to live and what careers they want to have.

“A lot of them are tenants and it’s not always a stable market. People worry year after year about the increase in their rent.

What are credit unions and community lenders?

Credit unions are financial cooperatives that provide savings, loans and a range of other services to their members. To join, credit unions generally require members to be part of a common bond, such as living in a designated area or working for a particular employer.

However, you may not always need to be a current union member to use its services.

These organizations are often able to lend money to customers on more favorable terms than other street lenders and have programs in place to help more vulnerable borrowers who may have difficulty accessing credit elsewhere.

payday lenders in her early 20s, but with the help of a credit union she was able to pay off her debts and is now a homeowner.” class=”blkBorder img-share” style=”max-width:100%” />

Victoria Barry, 36, got tricked by payday lenders in her early 20s, but with the help of a credit union she was able to pay off her debts and is now a homeowner.

Victoria Barry was caught in a vicious cycle of using high-cost payday loans when she was in her early twenties.

Speaking to This is Money, Victoria, now 36, from Manchester, said she initially borrowed just £20 from a payday lender after a friend recommended they fund a night out at the end of the month. However, caught up in the high interest charges, Victoria continued to supplement her salary with loans at the end of the month.

She reached the point where she was paying off almost all of her salary to payday lenders on a monthly basis and then had to get another loan to live on. The tipping point came, she says, when her borrowing exceeded her income.

“The next payment was going to be money I didn’t have in my account,” she recalls. “I only had a salary of £10,500 and the month before I had borrowed £700. With the £150 in interest, I had no way of giving them that money.

At the time, Victoria was working for Co-op Insurance and had noticed advertisements for her credit union on her workplace intranet.

“It was quite shameful, my family is not in debt, so I felt like I had let people down and didn’t want to turn to them. I saw it [credit union adverts] on the intranet and thought I’d give it a try.

She says she was worried union staff would blame her for mishandling her money, but when she met an adviser in person he was reassuring and helpful.

They provided him with not only an affordable repayment plan, but also financial health tools, such as budgeting skills, to be able to manage his money.

“Nobody tells you how you budget and it’s very simple, that’s where the money comes in and that’s what you can spend,” says Victoria who now has her own home in Mossley, Greater Manchester .

“It was about someone listening to you and not judging you, which was the most important thing for me at the time.

“Looking back on that time it felt like there was no hope so I’m happy to share my story because if a person like me hears there’s someone out there who can help you who is not a loan shark or pay day lender so it’s worth it.

What else can you do if you need credit?

The first thing Peel suggests is to check if you are entitled to benefits that you are not already claiming.

There are online tools to determine if you can access other sources of income. It is estimated that around £15 billion in benefits go unclaimed each year.

When there’s a need for credit, don’t be ashamed, she says. Just be sure to do your research and approach financing providers who can help you find a lower cost option.

High-cost payday lenders are often at the top of search engine results, so take the time to look a little deeper to determine what’s available and affordable.

Victoria Barry echoes the message that you shouldn’t be ashamed if you’re in financial trouble and seek help.

She suggests talking to a credit union, but even if they can’t help you, they can direct you to other sources of help.

“Asking for help is the first step,” she says.

According to a study by Bluestone Mortgages, one in six adults (16%) say they are too embarrassed to ask for help when they are in financial difficulty.

However, a bigger barrier to getting advice is that almost a third (31%) don’t think they have a right to help, while more than a fifth (22%) say they don’t know where to start looking for help. .

To raise awareness, credit unions and other community lenders are encouraging young people in their 20s and 30s to review their credit choices and consider the options available to them through a range of local and national community lenders that may suit their financial circumstances.

They can be found at Find your credit union – the funds near you and Find Finance – Responsible finance providers offering simple, smaller and affordable loans.

Some links in this article may be affiliate links. If you click on it, we may earn a small commission. This helps us fund This Is Money and keep it free to use. We do not write articles to promote products. We do not allow any business relationship to affect our editorial independence.

A2Z Market Research presents new Payday Loan Service research covering the Micro Level of Analysis by Competitors and Key Business Segments (2022-2029). The global Payday Loan Services report explores an in-depth study on various segments such as opportunity, size, development, innovation, sales and overall growth of key players. The research is carried out on primary and secondary statistical sources and consists of qualitative and quantitative details.

Get a sample report with the latest industry trend analysis: https://a2zmarketresearch.com/sample-request

Leading companies in this report include: Wonga, TitleMax, DFC Global Corp, Cash America International, Speedy Cash, Pay Day Advance, Check `n Go, MEM Consumer Finance, Instant Cash Loans, LoanMart, Allied Cash Advance, Finova Financial, Same Day Payday, MoneyMutual, TMG Loan Processing , LendUp loans, Just military loans.

Since analytics has become an integral part of every business activity and role, the central role in today’s business decision-making process is mentioned in this report. Over the next few years, the demand for the market is expected to increase significantly globally, enabling healthy growth of the Payday Loan Services market is also detailed in the report. This report highlights that the manufacturing cost structure includes material cost, labor cost, depreciation cost, and manufacturing procedure cost. Pricing analysis and analysis of equipment vendors are also done by the analysts of the report.

This research report represents a 360-degree overview of the competitive landscape of the Payday Loan Services market. Moreover, it offers massive data related to recent trends, technological advancements, tools, and methodologies. The research report analyzes the Payday Loan Services Market in a detailed and concise manner for better understanding of the businesses.

The report, with the help of in-depth business profiles, hands-on project analysis, SWOT examination and some different information about the major organizations working in the Payday Loan Services market, presents a scientific point record per point of market competitiveness. script. The report also presents a review of the effect of recent market developments on the future development prospects of the market.

Global Payday Loan Services Market Segmentation:

Market Segmentation: By Type

Financial support from the platform
Off-platform financial support

Market Segmentation: By Application

Personal
Retirees

Geographical analysis:

The global payday loan services market is spread across North America, Europe, Asia-Pacific, Middle East & Africa, and Rest of the World.

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COVID-19 Impact Analysis

The COVID-19 pandemic has emerged in lockdown across regions, line limitations and the breakdown of transport organizations. Additionally, the financial vulnerability of the payday loan services market is much higher than past outbreaks like Extreme Severe Respiratory Disease (SARS), Avian Influenza, Swine Flu, Avian Influenza, and Ebola, inferred from the growing number of infected individuals and vulnerability to the end of the crisis. With the rapid increase in cases, the global payday loan service refresh market is influenced from several points of view.

Labor accessibility is obviously disrupting the inventory network of the global payday loan services market as the lockdown and spread of infection pushes individuals to stay indoors. The presentation of the makers and the transport of the products are associated. If the assembly movement is stopped, the transport and the store network also stop. Stacking and dumping of elements, i.e. raw materials and results (fasteners), which require a ton of labor, are also being hit hard by the pandemic. From the entrance of the assembly plant to the warehouse or distribution center to the end customers, that is, the application companies, the entire inventory network of the loan service on salary is seriously compromised because of the episode.

The research provides answers to the following key questions:

• What is the projected market size of the Payday Loan Services market by 2029?
• What will be the normal share of the whole industry for the coming years?
• What is the significant development of components and restraints in the global market Payday Loan Services Market in different geographical areas?
• Who are the top sellers expected to lead the market for the assessment period 2022 to 2029?
• What are the moving and occurring advancements expected to influence the advancement of the global Payday Loans Service Market?
• What are the development techniques received by the important sellers of the market to stay on the lookout?

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If this guy was white…

Most people have no idea what’s going on behind the discs. Despite the bluster, the silver flash, the real life of these rappers is not depicted.

They are in danger.

In an underground economy.

It’s the rock and roll of old. A cash business, but much more dangerous.

Not that I knew that much until I read Joe Coscarelli’s book, “Rap Capital: An Atlanta Story”: https://amzn.to/3Ns7PMl and spoke to him for the podcast: https ://bit.ly/3haAadK

First, we have a huge incarceration problem in America, which disproportionately targets black men. It’s amazing how many of these eventually famous rappers go in and out of prison. And if you think racism is outdated, you need to be on the Supreme Court. There are places in Georgia where rappers are on their toes due to notorious white police crackdowns on petty crimes.

As for the pay…

Everything looks simple from the outside. There are record company royalties and concerts. But it’s much more complicated than that. There’s tons of cash gigs the IRS not only misses rich CEOs but also rappers, who themselves are sometimes incredibly rich because of this economy, where you show up at a club to rap for follow and… you can do several concerts per night. That’s another amazing thing about Coscarelli’s book, how rich some of these rappers are.

Not that a career is guaranteed. It’s one thing to have a hit, it’s another to maintain it.

And it’s not just the underground economy that’s involved, but also the Fortune 500. They know that rappers have the most credibility, not to mention popularity, with the target audience, so they go into business with them. . It used to be that you had to have a certain number of visits before companies called you, but now they’re involved from the start.

And so many acts are disposable. And find themselves where they come from. Never mind the fact that many do not.

And while rockers and old swaggers are still trying to figure out the internet, it was embraced by the hip-hop community right from the start. Rappers knew that you had to give to receive, like a drug dealer. They knew it was about getting the big money, not the little one. Ergonomic Mixtapes. These recordings endeared them to an audience that bonded with them. There was a lot of money on the road, if you had fans.

And cultural.

And, culture involves a lot of posturing and violence.

And white people and the mainstream media might report it, but they don’t denounce it.

It’s taken for granted that rappers get shot. Why?

Well, we could go to the source and ask why black people don’t have more opportunities. Coscarelli writes about college graduates who end up doing manual labor. But affirmative action is taboo, because someone might gain an advantage that has been incorporated into a majority group. I mean you have to attack the problem at some point.

And let’s be clear, it’s not what you learn at Harvard or Yale, it’s the people you meet, who are part of your network. JD Vance was a hick until he went to Yale Law School, built relationships, worked with Peter Thiel, and ended up writing a twisted book he used as a platform to run for Senate from Ohio. Where is the concomitant advantage for blacks?

Believe me, the upper middle class knows all the tricks. But even the middle class has no idea, that the best educational institutions are blind to need, and if you can get in and you’re broke, you don’t have to pay a dime.

America’s information deficit, right there.

So think of all the people who profit from rapping. White-run labels, TV and streaming companies, the aforementioned Fortune 500, but none of them lift a finger to counter the violence in the culture, they don’t even bother to speak out against it.

This is racism incarnate.

As for George Floyd… All the companies that have supported black people… that was then and this is now, the end result is far from major, it’s the same as ever.

So if a white rapper had been shot, there would have been front-page stories about his family, their devastation. And there would be investigative articles in the media asking how this could happen. How this honest citizen of good family got suffocated. Yeah, they were coating the background of the deceased, were they reading an obituary where they said the person was an arrogant punk?

And all the government leaders would come together and talk about action.

Meanwhile, where are the stories about Takeoff’s family? Where is the deep dive into his past life?

AND WHERE IS THE OUTRAGE!

We can start with gun control… But it seems to go the other way. I would think twice before moving to Texas, where anyone can carry a gun without a license. Rave me about the supposed economic benefits all day long, they don’t mean much when you’re dead.

The truth is that white people and the mainstream community don’t care if another black person dies. Just one less mouth to feed. Yeah, that’s how they see it, that black people are taking it, always wanting more, the government has to stop supporting them.

While they’re at it, why don’t they take out all that money the government disproportionately gives to red states, huh?

And an advanced society watches over those at the bottom of the economic ladder. In most western countries. But welfare was stifled under the Clinton administration and the idea that black women just have babies and are supported by the government is wrong. You think someone should take your money, that you should pay less tax, but when there’s a natural disaster, you want federal help right away.

Yes, there must be a scapegoat. And blacks are number one.

Even if their schools are not up to standard. The right says that you have to choose the school, close the bad schools, only there is not enough room in the good schools for all the disadvantaged! And in truth, it is only a ruse to advance the cause of religious schools, which are not free, and if you are not a believer…

And don’t equate every rapper with Kanye. They’re not that rich and they’re not that crazy. They are just trying to survive.

So we have to take the guns off the streets. Enough of throwing our hands in the air. When your kid gets shot, you go crazy, and someone else’s kid?

And how about a denigration of violence. Why are gangs and violence portrayed as cool? A lot of kids join gangs not because they’re cool, but just to survive. And since the police are ineffective, the gangs and others take the law into their own hands. And since opportunities are scarce, kids sell drugs, for that quick cash, I mean how long are they going to live anyway?

That’s what amazed me in “Hoop Dreams”. They threw a big birthday party for the player because living to be eighteen is such a feat. Do we feel the same as white people? That just staying alive is something to celebrate?

And often they find the perpetrators and lock them up, but that’s not really a deterrent, because they don’t think they have much of a future to begin with. And honor and image are everything, as if we were living in the feudal past.

All those talent agencies and apparel companies can drop Kanye like he’s hot, but how about dropping those involved in violence. Believe me, if you take away the few opportunities, it will change the culture.

As for clubs and strippers and making it rain…

Everyone can choose how they want to live their life but we flood these great athletes with money that they have no education on how to spend and then they blow it up and end up broke and eventually dead with CTE. But gamers are disposable, just like rappers. Hell, most NFL players don’t even have guaranteed contracts! Get hurt and you’re out. We don’t care about you. Life is hard. Meanwhile, the bad actor billionaire owner continues to rape and plunder not only in business, but also in his personal life.

It’s a way to demonstrate your status, by earning money and spending it.

Now, in truth, on TikTok there are all these videos that talk about money, about the economics of buying a new car, about investing. Maybe newcomers will see them, but we don’t even teach economic skills in school, because if we did, salespeople couldn’t laugh at these customers. Dollar stores, payday loans… They’re obnoxious, but if you’re broke, sometimes you don’t have a choice.

Somehow, America has flipped, and it’s white people who are at a disadvantage. What’s a poor boy to do? Don’t play in a rock and roll band, BUT BECOME A RAPPER! It is one of the few potentially well-paying jobs for an underprivileged youth, other than drug dealing.

But we demonize these people, because we take advantage of their backs.

Come on, black people are way above their weight when it comes to culture. And, unfortunately, this culture of gun violence impacts not only them, but also white people, BECAUSE IT’S SEEN TO BE COOL!

Let me tell you, when you’re dead, nothing is cool. Finito. It’s finish. The challenge is to stay alive. Shit, the government should give a million dollars to every rapper who hits 40. Better yet, a guaranteed income for all, including blacks.

But no one wants to PAY FOR IT! I don’t understand, you want to live in Venezuela? I’ve been there, the wealthy people live in the hills in houses surrounded by concrete walls topped with barbed wire.

You think you are immune, but you are not. We live in a big society. And you are part of it, and you are vulnerable. If you don’t take care of your siblings, raise them, it will impact you negatively.

But then you have all those executives who say they’ve made their billions and don’t recognize that without customers they’d have NOTHING!

Consumers are kings. But that’s not how our society sees it. We worship the rich and criticize the poor, ignoring what goes on in their brains.

And when it comes to hip-hop, it’s all about creativity. You don’t get to the top by accident. So why can’t we recognize it, except in award shows that nobody watches anyway?

Certainly, everything fades almost instantly these days. But in the aftermath of Takeoff’s death, I haven’t seen any official elected commentary on it. I didn’t see any outcry. At best, there was a shrug.

And that’s not right.

Something has to give. And if you don’t fix the underlying problem, it will affect you.

Come on, is anyone outraged that this guy was shot?

I suppose not.

ICYMI: Congresswoman Luria Holds Press Conference on Jen Kiggans Vote Against Military and Military Families

VIRGINIA BEACH, Virginia – Today, Elaine Luria (VA-02), former small business owner and congresswoman, Navy veteran of 20 years, held a press conference with local leaders and veterans after he was revealed that Jen Kiggans had taken money from the predatory payday loan industry, then voted against a bipartisan bill that would crack down on exploitative industry practices that harm active duty personnel and military families.

The press conference took place outside the Republican National Committee for Veterans Affairs Community Center in Virginia Beach, which was closed at the time. Click here for the press conference livestream. Additional videos and images can be found here.

“Jen Kiggans took tens of thousands of dollars from a Republican PAC with substantial financial backing from the payday loan industry before voting against a bipartisan bill that would crack down on payday lenders who exploit our active duty personnel. , our veterans and our military families,” said MP Luria. “Whether it’s supporting a nationwide ban on abortion, refusing to say Joe Biden won a free and fair election, or taking money from a shady political organization and then voting against protecting of our military families, Jen Kiggans has proven time and time again that she cannot be trusted. She will say and do anything to get elected, including voting against the men and women who risk their lives for serve our country.

Kiggans voted against Senate Bill 421, the bipartisan party Virginia Fairness in Lending Actthat caps predatory interest on payday loans and expands access to credit.

After being asked by WAVY 10 about her vote, Kiggans ran sharply out of the interview with the station’s microphone still attached. Campaign finance reports show Kiggans took $20,000 in contributions of a Republican PAC funded by the payday loan industry before she voted against legislation as a state senator.

“There is nothing I value more as a legislator than fighting for our veterans,” said Virginia House Democratic Leader Don Scott. “Jen Kiggans needs to explain why she took $20,000 from our military and their families and then ran when asked about it.”

KANSAS CITY, Mo. — A project that was first discussed in 2007 came to fruition on Saturday.

A ribbon-cutting ceremony was held at WeDevelopment Federal Credit Union, located at 31st and Prospect in Kansas City, Missouri.

Dozens of community members and local leaders celebrated the new credit union which aims to help KC’s most financially challenged areas.

“I think it shows persistence, you don’t change the world all at once, sometimes these things are tough,” said KCMO Mayor Quinton Lucas.

Gwendolyn Washington, CEO of WeDevelopment, told KSHB 41 that the credit union will help protect people from predatory lending companies, especially since the poverty rate near the location is around 30%. .

“When you have people on fixed incomes or who don’t make a lot of money, their emergencies might just be a $500 loan, that’s why they go to payday loans, but when they can go to a financial institution like WeDevelopment and they can take out a $500 loan with less than 20% interest, you know that’s where they need to come,” Washington said.

With priorities set on expanding access to banking services while educating members on how best to manage their finances, Mayor Lucas says the credit union is just the start of a better and more community. safe.

“You see more businesses filling that intersection,” he said. “I think what you’re going to see is more people going back to the core of our city, more people developing, and in the long run a place that in 10 to 15 years looks very different. Having a lot more stores, having a lot more business and a lot less crime.”

There is still work to be done, but the credit union is scheduled to open to the community on December 5.

There are times when an emergency or an unexpected expense arises. If you don’t have an emergency fund to fall back on, you’re probably thinking, “I need money now,” and you don’t know where to find it. When payday is too far away to be useful, there are options and strategies that could help you quickly find the money you need to solve your problem.

1. Sell items

When you realize that “I need money now”, the fastest way to get some quick cash is to look at what you currently have and sell it. Selling stuff is a good way to declutter your life, especially if you’re not using the goods you plan to sell.

Some of the most profitable items to sell and cash in quickly are:

• Electronic devices such as mobile devices and video game consoles
• Jewelry, especially gold
• Designer items
• Collectibles

Depending on the items you’re looking to sell, sources such as OfferUp, eBay, Craigslist, Facebook Marketplace, Swappa (for mobile/electronic devices), and Poshmark (for clothing and accessories) are good options. In most cases, all you need is to take clear photos of the items you are looking to sell and list them.

Do some research to determine the price of the item to sell quickly. And when you receive interest in your goods for sale, be sure to be careful when making a deal to avoid being scammed, especially on Craigslist, OfferUp, and Facebook Marketplace.

2. Take a side hustle

If you’ve exhausted your options to sell items, another good option is to take a side hustle to earn some quick cash. Some gigs don’t even require special skills to earn money now. The following platforms could help you increase your income quickly.

Food and grocery deliveries

You can earn money quickly by working as a delivery driver. In most cases, you will need a mobile phone and an app download, a driver’s license and an insured vehicle. If you meet the application requirements, you could start earning today. Some platforms worth trying include:

Driver

Uber and Lyft are the two most popular apps to work for as a rideshare driver. You could work in your spare time to raise the money you seek. In many cases, working after hours could help you earn more.

If you are unsure about driving passengers, an alternative is to work as a parcel delivery driver for Amazon Flex.

Earn rewards

Some websites work with brands that pay you to take surveys, watch ads and videos, play games, shop online, and more. Signing up is simple – in many cases, all you need to do is enter an email address to get started and a PayPal account to make a withdrawal. In other cases, you can cash out with e-gift cards. Cash reward websites worth checking out are:

Teach online

You don’t need to have any special skills to teach online. You can teach English to foreign students through websites such as VIPKid. Or you could be a homework tutor and advertise your services on Wyzant and TutorMe.

3. Rent your stuff

There are websites that allow you to list your property for rent. Why not make money from your existing assets, especially if you don’t use them all the time? Tools, spare parts, and vehicles are a few options. Some platforms worth checking out are:

4. Use your credit card

Having an open line of credit is a lifeline in an emergency. You can use your credit card to cover a last minute expense by using the card to make the purchase or get a cash advance.

keep in mind

A cash advance has higher fees than a regular purchase. And in both cases, you will have to pay off the balance on the card. Be sure to pay your installments on time to avoid damaging your credit and incurring additional fees and finance charges.

5. Take out a personal loan

If your credit card limit is not high enough to cover the expenses you need, a personal loan may be an alternative. However, personal loans often take time to apply for and be approved for – and require good credit.

For those who find it difficult to get a personal loan, payday loans or bad credit loans are available, but they come with very high interest rates which could create bigger problems later if you are not. not able to repay them quickly. Think of them as a last resort.

6. Look for public funding

Depending on the expenses you’re struggling with, you may be able to find government or community funding to help. There may be nonprofits or churches near you that could help. Some communities may offer short-term assistance that can help you with rent and utilities. Some hospitals offer subsidies or can write off hospital bills if you can’t afford it. The key is to research what is available in your city to find the help you need.

7. Pawned goods

If you have valuables that you are not ready to sell, you can pawn them. Wondering how a pawn works? You take your belongings to a pawn shop and the representative will appraise your items to determine what they are worth. They will lend you money based on the value of the item.

If you accept the loan, you will be paid, but you will have a certain period of time to repay the loan. If you do, your items are returned. If you are unable to repay the loan, the pawnbroker will keep your items and resell them to get their money back.

8. Ask for abstention

Forbearance basically means requesting a temporary deferral of your due payments. Although this option won’t put any money into your hand, it could free up some money that you would normally spend. Before choosing to delay any payments due, make sure you have your responsibilities clearly defined – you will need to make the payment in the future. Make sure you’ll be able to afford the payments later so you don’t find yourself in financial trouble.

Carry

Needing money now can happen to anyone. After all, life tends to throw the occasional curveball. You can walk through the situation with some knowledge of the types of options you might have. The options in this guide are some of the fastest ways to get money. Look for creative ways that help you avoid debt first.

By Andrew Keshner

Prices continue to soar as September inflation data came in higher than expected earlier this week

Despite all the worries about pinching inflation and the possibility of a recession, just-released big bank earnings reports indicate that the wallets of many ordinary Americans are generally holding up as they do facing higher prices – for now.

Stock markets ended Monday on a rosy note, after starting with a dip and rebounding with a surge following September inflation data that came in hotter than expected.

Comments on third-quarter earnings calls this month from executives at JPMorgan Chase & Co. (JPM), Wells Fargo (WFC) and Citibank (C) suggested consumers still had their own rebound despite the pressure. The optimistic words, however, were cut with a dose of caution.

It’s a reminder that assessing someone’s financial health is a tricky mix of moods and also dollars and cents. Also on Friday, consumer sentiment remained gloomy but improved slightly according to the University of Michigan consumer sentiment measure and data showed retail sales flat in September.

After JPMorgan’s third-quarter earnings and revenue beat estimates, an analyst on the call asked if there were any “cracks” emerging, including for people working in the banking industry. detail.

There’s high inflation, rising interest rates, higher mortgage rates, questions about fuel prices and more, CEO Jamie Dimon said.

“It’s not a crack in the current numbers. It’s entirely predictable that it will weigh on future numbers,” said the banker, who expressed potential fears of a recession. For now though, “balance sheets are very good for consumers,” he noted at one point.

At Wells Fargo, CEO Charlie Scharf noted that average deposit balances declined from the second quarter to the third quarter, but are still above pre-pandemic levels. There is a segment of customers who are seeing their balances “decline steadily” and their balances are now below pre-pandemic levels, he said.

“It’s important to note that this is still a small percentage of our total customer base,” he said. “Overall, our consumer deposit customer health metrics, including cash flow, payroll and overdraft trends, continue to show no elevated risk concerns,” he said. declared.

Wells Fargo posted stronger-than-expected third-quarter revenue to counter the loss in analysts’ earnings estimates.

Challenges await the UK and Europe, Citi CEO Jane Fraser said, speaking hours after British Prime Minister Liz Truss sacked her Chancellor of the Exchequer on Friday.

“The U.S. economy, however, remains relatively resilient. So while we see signs of an economic slowdown, consumers and businesses remain healthy,” Fraser noted.

“Supply chain constraints are easing, the labor market remains strong, so it’s all about what it takes to really get a grip on persistently high underlying inflation,” she added. . Citi earnings exceed profit targets

Of course, the numbers and takeaways that appear on a major bank’s earnings call are just a snapshot of people’s financial situations. Indeed, inflation rates at their highest level in four decades have become a key political issue in the midterm elections which will take place in less than a month.

It should also be noted that there are whole sections of people who do not have a bank account or who use the services of a bank very little. Most Americans are “fully banked,” meaning they have a bank account and don’t use alternative financial services such as payday loans, according to Federal Reserve analysis.

But an estimated 13% are “underbanked” and another 5% are unbanked. Without access to traditional banking services, these consumers — who typically have lower incomes and are black and Hispanic — are using services such as check cashing services and payday lenders, according to Fed data.

Black, Hispanic and Native American families have been especially grappling with the toll of inflation, research and polls show

The Dow Jones Industrial Average, S&P 500 and Nasdaq Composite closed Monday. Shares of JP Morgan, Well Fargo and Citi rose on Monday.

Wells Fargo shares are down about 9% year-to-date, while JPMorgan and Citigroup shares are down about 30% and 28%, respectively, over the same period.

-Andrew Keshner

(END) Dow Jones Newswire

10-17-22 2011ET

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