Tag: Finance

Personal finance encourages the idea of ​​reducing your expenses. However, if you're trying to start a family, it can be easier said than done.

According to the World Health Organization, 15% of couples worldwide have infertility problems. Some infertility tests can be resolved naturally, but for many people, procedures such as in vitro fertilization and in vitro fertilization are the best chance of conceiving. According to the American Society of Reproductive Medicine, the average cost of an IVF cycle is $12,400, and most couples have multiple treatment cycles.

Ali and Josh Lupo are one such couple. As a personal finance influencer, her regular job is sharing advice on index funds, real estate investing and living below your means with her 135,000 Instagram followers. Infertility and its high costs were not part of the financial freedom plan.

"It's like a black, black hole when you're exploited by money and you're plagued by infertility," Ali said. "No one understands pain unless they have been through it or experienced it."

But, having laid the groundwork in their 20s, the couple is better positioned for an uncertain future. Rather than relying on perfectly crafted posts, Lupus uses their social media channels to facilitate conversation and community when people are dealing with messy personal finances — situations like infertility where being frugal is sometimes not an option.

"After 30 months of trying to add to our family, 1,230 pills, 79 injections, 6 cycles skipped, 1 surgery [and] 1 transfer, we are pregnant," she wrote on an Instagram scroll that accompanied her pregnancy announcement.

Here's how one couple continued their financial journey and how some Americans found solutions to make sure health insurance is part of their financial freedom goals.

They have over $100,000 in student debt.

Lupus is more likely to be an "influencer," a name given to personal finance entrepreneurs of varying degrees who attract large followings on social media. After college, Josh worked at a group center for at-risk youth and Ali worked for victims of domestic violence. They say the job earns about $12 an hour. In pursuit of better-paying career opportunities, Ali returned to school to earn a master's degree in social work. In the year By the spring of 2017, the couple had accumulated more than $102,000 in student loan debt and their wedding was scheduled for next year.

Ali said, “Both of us grew up in financially poor families. "We've never budgeted with credit cards." Although Ally's additional credentials land him a better-paying job, Josh is soon fired, forcing the couple to live on less than they can afford. Lupus began working multiple jobs and Josh would drive for Uber when he had time, listening to podcasts about personal finance and real estate between trips.

To make ends meet, the couple focused on reducing or eliminating the "big three" expenses — housing, food and transportation — and said the process teaches frugality in the pursuit of financial freedom.

"I think a lot of people get into trouble with the design lifestyle," says Josh. "They said I'm going to make a lot of money to make this happen." But they are not focused on managing their income. Start by knowing how you spend your money.

The savings paid off. In the years that followed, the couple paid off all their debts, bought a two-story home, then bought and rented out a second duplex to live rent-free. However, Ali's work is very stressful. A very important decision in the coming months.

A simple personal finance move that puts profits before money: "Barista FI"

IVF is so expensive that some Americans take jobs to pay for IVF insurance benefits. This phenomenon is known in some financial circles as "Barista FI".

Barista FI is part of the Financial Freedom, Early Retirement or Fire movement, an acronym first coined by Vicky Robin and Joe Dominguez in their 1992 book Your Money or Your Life. The premise of the FIRE movement is simple, but not simple: save and invest enough money that the annual interest alone will cover all your bills, resulting in infinite nest eggs.

Often referred to as your FIRE number, this number is very sexy. It's also very high — more than $1 million for most people and rising every year due to inflation, a list often overlooked by personal finance influencers. "Chasing FIRE can be frustrating. FI isn't for everyone," Ali said. "As a result , some enthusiasts have ditched the acronym 'Early Retirement' for FIRE, especially those seeking fertility treatment ."

Barista FI, so named because Starbucks offers workers health insurance if they work an average of 20 hours, allows people to escape stressful jobs while maintaining residual income and benefits. The prospect of securing insurance coverage is especially attractive to young people seeking maternity support. In recent years, there have been reports of workers taking Starbucks jobs to help fund their IVF journey.

Why are birth rates so high?

Fertility treatments are expensive "because everything else is expensive," said Dr. Shaheen Ghadir, a dual board certified physician and assistant professor of clinical obstetrics and gynecology at UCLA. "There are other levels of staff involved in fertility treatment, embryologists, very technical people who do procedures in IVF laboratories," Ghadir said. Setting up a good IVF lab "could cost millions of dollars," he added.

In the United States, besides technology, there are other factors that increase the cost of childbirth, says Dr. Fertility-based medical practices. "We're a capitalist country, so we have a lot of competition. This drives up prices. And drug companies don't have to negotiate with the government to lower drug prices," Gunner said.

The Lupus decision to stay in Medicare was a huge help when dealing with infertility. "The pandemic hit, it's May 2020, we're completely shut down and we're like, 'This seems like a good time to try and have kids,'" Ali said. "We did and it took two and a half years before we finally had our first child."

"We were very fortunate to go through this process and our first transfer resulted in a successful pregnancy," Josh said, adding that the total insurance coverage was about $3,000. Through their efforts to share their experiences on social media, the Lupos have gained hundreds of followers, thanks in part to their connection to their personal stories and financial challenges.

"We have a lot of friends that we didn't know were going through infertility," Josh added, "but sharing has forced them to share the truth with us and have this community." The support is there and I think it helps us a lot.

Personal finance is personal, but these tips are universal

If you have specific life goals or personal aspirations, restructuring your financial plan will get you there faster. Consider these tips when deciding what you want in life.

Widen the difference between income and expenses

Personal finance can quickly become intimidating. It can be summed up in nine words: make more money, cut costs, invest the difference. By focusing on any or all of these guidelines, you're moving in the right direction. This could mean getting a part-time job, taking an honest look at your current budget, or learning the basics of investing. According to a recent Gallup poll, fewer than three in five Americans own stocks.

At the same time, let's take a look at the reasons. "During our FIRE journey, we've talked to 'successful' people, and they've said, 'I wish I'd slowed it down a bit because I'm really not happy all the time,'" Ali says.

Be aggressive when it comes to your work benefits not aligning with your family planning goals

If funding your family plan is a priority, look for a job that offers the benefits you need, Ghadir says. "Many of my patients who are looking for a new job are looking for a job that offers great maternity care and benefits — give yourself a chance," she says.

Stay informed when evaluating major investments

An additional challenge in the infertility industry is that the patient population is particularly vulnerable, Gunner says. "They're willing to do anything [and] do whatever tests are recommended to try and improve their ability to get pregnant, so they can sell more if they want to," she explained. Gunner also recommends two websites, FertilityIQ and ReproductiveFacts.org, where expectant parents can get more information for free.

Lupus wants to use their platform to have real conversations about money, work and family challenges.

"It is unacceptable that we live in a country where access to basic services to raise their families is so expensive," Ali said. "There are huge financial barriers to parenthood, adoption isn't that easy and fertility treatments don't always work. It's a terrible situation. Be kind and patient with yourself."

More financial stories

How fasting can reverse aging and prevent disease! (quick to save) | Dr. Pradeep Janadas

ROLLS — On March 8, a former North Carolina congressional candidate pleaded guilty to federal campaign finance violations in relation to loans from family members that prosecutors said were wrongly listed as personal funds on campaign reports.

Linda Bennett, 65, of Maggie's Valley, is defending herself in US District Court in Washington, DC for one count of accepting payments on behalf of another person, according to a press release from the US Department of Justice and court records. Bennett's sentence was set for June 20. Bennett's plea agreement stated that the lawyers in the case jointly offered to plead guilty, which is a felony.

MORE: Trump, a former candidate for the WNC House backed by Meadows, pleads guilty to illegal political money.

Bennett, who was formally charged in late January on criminal information filed by Justice Department lawyers, failed to run for the 2020 Republican nomination in the 11th Congressional District. She lost in the GOP primary to Madison Cawthorne, who eventually won the November 2020 general election.

Prosecutors said Bennett borrowed $25,000 from a family member in late 2019, saying he needed the money because he had to spend a lot of money personally on his campaign. The government said that shortly after he deposited the money, Bennett transferred $80,000, including $25,000 in loan funds, to his campaign committee. During his campaign, he said all of the $80,000 was borrowed from his own funds, and did not disclose that some was received from others, according to a Justice Department press release.

MORE: Madison Cawthorne defeats Trump's candidacy in the GOP 11th round

Bennett's attorney, Kearns Davis, wrote in an email after Wednesday's hearing that "Linda is grateful for the support of her family and friends and is excited to move on to the next step in this process."

Bennett, a real estate agent, was one of several Republicans running for the 11th District seat held by former Republican Mark Meadows. He left this position to become former President Donald Trump's Chief of Staff. Bennett was a friend of Meadows' wife and was supported by Meadows and later by Trump.

This article originally appeared in the Asheville Citizen Times; Beaten by Cawthorne, Linda Bennett pleaded guilty to campaign finance.

MSc Finance graduates from Georgetown McDonough earn $146,000 to start with four or more years of work experience. Georgetown photo

From Washington, DC: The Class of 2022 master's in finance at Georgetown University's McDonough School of Business achieved record graduate salary and career outcomes, according to MSF's annual Career Success Report.

Recent graduates earned a base salary of $119,199, up from $112,139 last year, with an average base salary of $105,000. For the fourth consecutive year, base pay remained in the six-figure range.

Those with four or more years of work experience earned an average base salary of $146,755, compared to $120,189 last year, with an average base salary of $129,000. Experienced graduates earned an average of $159,000 in non-base salary additional compensation, capped at $1.2 million. Six months after admission and graduation, the average base salary increased by 73%, and 86% of these graduates were promoted at their current company or accepted a position at another company.

read on

The class teachers of this year's University of Mississippi MBA program are (left to right): Sarah Keith Rushing, vice president of public affairs; Addie Gagnon, vice president of social events; Alexis Lee, vice president of human resources; Kendall Runzi, vice president of public works; Kylie Harrier, President; and Lee Ellis Grisham, vice president of finance. Photo by Ashley McGee

Led by a group of Mississippi State MBA Women Class Officers

From Oxford, Mississippi: For the first time since the University of Mississippi established its MBA program, its students will be led by a female faculty.

This year's MBA class is led by:

• President Kylie Harrier of St. Charles, Illinois

• Kendall Ranzi, Festus, MO, vice president of public works

• Alexis Lee, Stevens Point, Wis., vice president of Human Resources

• Lee Ellis Grisham, Tupelo, VP Finance

• Addie Gagnon, Silver Spring, Maryland, vice president, social events

• Sarah Kate Rushing, Brookhaven, vice president of communications

The story continues

“I am honored and fortunate to be on a team with such incredible women,” said Harrier, who earned a finance degree at UM before pursuing an MBA. “I never thought I would be working on this team.

"It's really inspiring to see a group of women leading our program."

read on

UConn Restructures MBA, Reduces Course Requirements

Van Storrs, Connecticut: The University of California, Connecticut School of Business has announced an overhaul of its MBA program, reducing the number of credits needed to complete the degree from 57 to 42 and changing its concentration and core courses.

John Elliott, dean of the University of California, Connecticut's School of Business, said the changes will make it easier and faster for students to earn an MBA.

Students can complete the requirements in as little as a year and at low cost if they actively pursue the degree, UConn said. Today, many students have a three-year plan.

The changes will take effect at the beginning of the fall semester

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Now don't miss this business school to get all MBA fundamentals. Only 10 in the US

The post “Seasoned graduates of these top masters in finance earn almost $150,000 to boot” appeared first on Poet and Quant.

Two years after completing the course Regional Sales Manager with an income of $150,000

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Close-up of a money puzzle

This article originally appeared on The 4Front, NBC Washington Working 4 You, Your Family, Community, Health, Safety and Money. Subscribe here.

Households are increasingly relying on credit cards to offset the high cost of living. In the final months of 2022, credit card balances rose $61 billion, the biggest quarterly gain since the Federal Reserve began collecting data in 1999.

Want to control your debt?

Don't hide your head in the sand, just make the minimum payment and think that's enough, says Sarah Ratner of Nerdwallet.

Find a strategy that works for you.

Here are three popular debt repayment strategies:

Are you motivated to check things off your to-do list? Try the snowball method . Make minimum payments on all bills to stay on top of things. Invest every extra dollar in your smallest remaining debt. Once it is removed, move on to the next smaller debt.

Do you want to save money with interest over time? The landslide method prioritizes paying off the debt with the highest interest. This method can save you the most money, but it can take a long time before you feel like you've reached your goal.

Want to take advantage of a good credit history? Consider debt consolidation if you combine all your debts into one loan. Consolidation loans often have lower interest rates than credit cards if you have good credit. When used correctly, this method can help you pay off your debt faster. But stay away if your credit score is too low to give you a competitive interest rate.

You may have seen the FTC consumer advisory about credit repair companies engaging in illegal business practices.

While there are reputable companies out there, you can spend an hour or two doing it yourself, it's free.

According to Ratner, it works like this:

• Download your Equifax, Experian and TransUnion credit reports from Annualcreditreport.com for free until the end of 2023.
• Check every credit report for issues like B. Your account doesn't remember opening and contains incorrect information. Make sure all public records, such as evictions or sentencing, are accurate.
• If you find incorrect information, dispute it by contacting all three credit reference agencies. Send an email explaining the errors. Attach supporting documentation. Credit bureaus usually have 30 calendar days to investigate your dispute.

No credit recovery company can remove negative information, such as bankruptcy or debt, from your credit report , if true . However, according to the Consumer Financial Protection Bureau, the most negative information may only appear in reports for seven years (10 years of bankruptcy). Contact the credit bureaus to remove outdated information; You can increase your credit score overnight.

So, when is the right time to hire a credit repair company? This can be useful if potential clients contact major credit bureaus.

Beware of red flags. Don't hire a company that asks you to discuss accurate information, promises to remove valuable negative information, or requires you to pay up front.

Our Oriental Credit Repair Repairs Your Credit History and Gets High Scores

© Thomson Reuters US Treasury Secretary Yellen at a roundtable meeting with Indian technology leaders near Bangalore.

Written by Aftab Ahmed and David Lowder

BENGALURU (Reuters) – Financial leaders from the world's biggest economies failed on Saturday to resolve differences over the war in Ukraine and move forward with steps to restructure the debt of troubled countries, people familiar with the talks said.

A meeting of Group of 20 (G20) finance ministers and central bank governors hosted by India could end without a joint statement as the three delegates failed to agree on how to describe the conflict in Ukraine. he told Reuters.

© Thomson Reuters US Treasury Secretary Yellen speaks during talks with Indian technology leaders near Bangalore

The United States and its allies in the G7 industrialized nations pressed for a statement calling for full condemnation of Russia for its neighbor's attack a year ago, but representatives of Russia and China opposed it. to that language.

© Thomson Reuters G20 finance ministers, central bank governors and heads of delegations G20 finance ministers and central bank governors attend a meeting near Bangalore.

Two of the delegates noted that Russia and China were upset that the G20 platform was being used to discuss political issues.

US Treasury Secretary Janet Yellen earlier told Reuters that it was "absolutely necessary" to include a statement condemning Russia.

"And I think the G7 has come together around that, so I expect that's necessary and appropriate," he said.

Russia, a member of the G20 but not the G7, considers its actions in Ukraine a "special military operation" and avoids calling it an invasion or war.

India is pushing for the meeting to avoid using the word "war" in any statements, G20 officials told Reuters.

India, which chairs the G20 this year, has maintained a neutral stance in the war, refusing to blame Russia for the attack, seeking a diplomatic solution and significantly increasing purchases of Russian oil.

India and China were among the countries that abstained when the United Nations voted on Thursday to call on Moscow to withdraw troops from Ukraine and end the war.

In addition to the G7 countries, the G20 bloc also includes countries such as Australia, Brazil and Saudi Arabia.

The delegates noted that the meeting will most likely end with a speech by the host summarizing the results of the discussions.

"In the absence of consensus, India's option would be to publish the bank statement," the official said.

India's Ministry of External Affairs, Finance and Information did not immediately respond to requests for comment.

Credit business

In that regard, the International Monetary Fund (IMF) held a meeting on Saturday with the World Bank, China, India, Saudi Arabia and the G7 to restructure the debt of troubled economies, but there were disagreements among members, Cristalina said. . . Georgieva, executive director of the IMF. .

"We just finished a session where it was clear that there was a consensus to iron out the differences for the benefit of the countries," Georgieva, who moderated the discussion with Indian Finance Minister Nirmala Sitharaman, told reporters.

A spokesman told Reuters that some initial progress had been made, particularly on language, but restructuring had not been discussed in detail.

Yellen said the meeting, which was mostly an organizational one, had "no results."

Several more round tables are planned at the spring meetings of the IMF and the World Bank in April.

China, the world's largest bilateral lender, and other countries are under pressure to cut loans to developing countries.

In a video address to the G20 meeting on Friday, Chinese Finance Minister Liu Kun reiterated Beijing's position that the World Bank and other multilateral development banks should participate in debt relief through joint reductions with bilateral lenders.

Yellen said she was urging all bilateral creditors, including China, to engage in meaningful talks ahead of the debt meeting, adding that Zambia's debt problem and Sri Lanka's financial guarantees were "very urgent".

According to government figures, Zambia owes Beijing nearly $6 billion of its $17 billion foreign debt at the end of 2021, while Ghana owes China $1.7 billion, according to the Institute of International Finance, a services trade body. Financiers focus on emerging markets.

The China Africa Research Initiative think tank estimates that by the end of 2022, Sri Lanka will owe Chinese creditors $7.4 billion, or about a fifth of its external public debt.

(Reporting by Shivanga Acharya, Sarita Singh, Aftab Ahmed, Christian Cramer and David Lowder; Writing by Raju Gopalakrishnan; Editing by William Mallard and Francis Carey)

India's chairmanship of the G20. The Minister of Finance of Spain held a press conference as part of the G-20 meeting.

BENGALURU, India – Top financial leaders from the Group of 20 nations will meet this week in Bangalore, the technology hub of southern India, to address the many challenges to global growth and stability, including stubbornly rising inflation and high and rising debt.

India is hosting the G-20 financial conclave for the first time in 20 years. At the end of the year, the first G-20 summit will be held here. The meetings give the world's second most populous country an opportunity to showcase its growth as an economic hub and its status as a champion of developing countries.

This week's meeting of finance ministers and central bank governors comes just a year after Russia's invasion of Ukraine sent a cascade of shocks to the global economy, including the highest inflation in decades. US Treasury Secretary Janet Yellen is expected to discuss the global economic impact of the war at the G-20 meetings.

India is one of the countries walking a tightrope between the West and Russia, demanding greater global influence but refraining from conflict as its economy benefits from buying Russian crude oil at high prices.

"India is playing an increasing leadership role in the world," Information Minister Anurag Thakur said on Wednesday, echoing Indian Prime Minister Narendra Modi's stance that "there is no war in this day and age. Dialogue and discussion is the only way forward." .

Modi, who will hold more than 200 G-20 meetings in 28 cities in the run-up to the November summit, is expected to use the role to rebuild India's reputation as a leader in the fight against climate change and act as a bridge. between the interests of industrialized countries. and developing countries.

"We don't have the resources that developed countries have, but we have achieved a lot in areas like space and renewable energy with minimal resources," Thakur said.

This is an urgent priority, given the growing importance of developing countries to global growth: the International Monetary Fund estimates that India and China alone will account for more than half of global economic growth this year, with other Asian countries accounting for another quarter. annual growth expansion will be in order. growth rates of 6-7%.

India's economy is expected to grow by 6.1% annually this year, after growing by 6.8% last year, the IMF said in a report on Monday.

"At the macroeconomic level, the strained conditions have eased somewhat, but the inflation rate remains high. In this situation, coordination between major economies is important," senior finance ministry official Ajay said on Tuesday. Seth. , a journalist in Bangalore.

Bangalore is the startup and technology hub of India. Originally known as an outsourcing hub, it is now known for its entrepreneurs and IT companies. But the city suffered from poor planning. Last year, it was hit by severe flooding that caused $30 million in damage, partly due to global warming.

Improving urban infrastructure will be the focus of discussions in India this week, the first of four meetings of G-20 finance ministers.

The G-20 includes the world's largest economies and has a rotating presidency. Indonesia hosted it last year, and Brazil and South Africa will follow in 2025.

In countries such as India, this is seen as a counterweight to the rally of richer economies such as the G7.

During the meetings in Bangalore, officials will discuss a range of climate finance issues, reach consensus on digital currency regulation, global tax issues and other financial priorities.

Yellen and other officials said they would also discuss the risks of a heavy debt burden for many countries after a costly effort to mitigate the worst effects of the COVID-19 pandemic. These problems have been exacerbated as countries' import bills have risen due to persistently high food, oil and fertilizer prices and weakening currencies.

Yellen visited Zambia in January to discuss the African country's $6 billion debt to China, its largest creditor. Zambia became the first sovereign country in Africa to default on a $42.5 million bond in November 2020 amid the coronavirus pandemic.

But many other countries have seen their financial situation deteriorate in recent years, including India's neighbor Sri Lanka and other Asian countries.

"Several countries are facing huge debt problems. Finding permanent solutions will draw attention in the discussions,” said Seth, a finance ministry official.

A senior Treasury official, who spoke on condition of anonymity to discuss Yellen's travel plans, said he plans to urge G-20 countries to cut carbon emissions and invest more in renewable energy, infrastructure and agriculture.

At the United Nations climate conference last November, India, the world's third-largest emitter of greenhouse gases, proposed a phase-out of all fossil fuels and repeatedly stressed the need to restructure global climate finance.

The G-20's long-term priorities, including building stronger health systems, promoting sustainable energy use and helping countries improve their productivity, are often overshadowed by more pressing issues such as slowing global growth, debt crises and conflicts such as the war in Ukraine . .

The war and the pandemic have exacerbated disruptions to energy, shipping and food security, complicating efforts to stabilize the global economy after the pandemic.

Another priority in Bangalore will be monetary policy coordination as central banks decide whether to keep raising interest rates or scale back efforts to curb inflation.

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Kurtenbach contributed from Bangkok.

Associated Press reporters Krutika Patti in India and Fatima Hussain in Washington contributed to this report.

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Follow Sibi Arasa on Twitter at @sibi123

G20 ministers call for wider dialogue on trade tensions

While CFOs face relatively new challenges and responsibilities in the 2020s, from corporate sustainability to digital transformation, they need to learn a deeper and broader truth: The expectations of CFOs have risen almost beyond recognition over the past few decades, requiring a change in mindset. not just new skills. I recently spoke with Robert Bendetti, CFO of Lifecycle Engineering and founder of the Global Finance Council, which helps CFOs share knowledge on how to approach and excel in their jobs in the ^21st century.

Jeff Thompson. As the CFO of Life Cycle Engineering, you will be responsible for all of the company's financial operations, including accounting, finance, contracts, purchasing, security, equipment, process automation, and IT. The CFO is expected to play at least some role in all of these areas, but this requires adaptation and development of the skills of more traditional financial leaders. How do you see the CFO role evolving and diversifying throughout your career, and how are you changing with it? What lessons do you have for other CFOs?

Robert Bendetti. When I graduated, the CFO role was all about transactions and background. Now the CFO role is focused on transformation and the future. We are the main future officers. To be successful in the future, CFOs must be experts in change management. Certifications such as CMA [Certified Management Accountant] and Lean Six Sigma training can help you become more efficient and accelerate your career. But to significantly increase the effectiveness of your change management projects, you need to master the human side of change.

I have had success using Proschi's ADKAR model to manage the human side of change. ADKAR stands for awareness, desire, knowledge, ability and empowerment;

A – Awareness of the need for change.

D – Willingness to participate and support change.

K – Knowledge of change.

A – Ability to practice desired skills and behaviors.

R – Reinforcement to support change.

We need to support the people in the organization as they transition from the current state to the future and understand what it takes to get each person to embrace and embrace change. In this way, organizations can significantly increase the chances of project success and the return on their investment in the project.

Thomas: Process automation and IT are of particular importance to finance, given the trend towards automation of low-level finance tasks and the growing importance of understanding technology issues for finance managers. What technology areas are of greatest interest to future finance and accounting professionals? How should accounting programs and departments better prepare their employees for these technological trends?

Bendetti All businesses are going digital, and CFOs must stay at the forefront of technology. Two areas that I am personally interested in are data analytics and process automation. I'm still in the early stages of becoming an advanced user of tools like Power BI, Tableau, and Amazon QuickSight. But I'm really amazed at the power of these tools to analyze, visualize, extract and share results to manage results in real time.

I am also fascinated by process automation and its impact over the past 20 years. The commercial area (accounting, human resources, purchasing, etc.) was barely recognizable from the start. Process automation, robotic process automation, artificial intelligence and machine learning are revolutionizing business. But it is important to remember Peter Drucker's famous saying: "There is nothing more useless than doing effectively what should not be done at all." Don't use RPA to automate tasks that shouldn't be done. Use Lean Six Sigma principles to reduce waste and variance; then automate what's left.

Thomas: With so many changes and disruptions, it's more important than ever that CFOs work together to share ideas and experiences. That is why you are not only the CFO of Life Cycle Engineering, but also the founder of the Global Finance Council. What made you return to the financial profession? What are the benefits of networking and information sharing for CFOs?

Bendetti Global Finance Council is an educational and networking forum for financial leaders. The purpose of the Global Board of Financial Directors is to provide an educational and networking forum for Senior Financial Officers (SFEs) to share best practices, discuss current finance issues and learn about current challenges in doing their jobs. He is a member of the Board of Global Financial Directors [SFE], including the Chief Financial Officer, Comptroller, Vice President of Finance and Treasurer. I started a few years ago and now we have 1500 members in 30 countries.

I consider myself a lifelong student. I like learning new things and meeting new people. In-person and virtual meetings allow me to connect and learn from industry experts. Mahatma Gandhi said that "the best way to find yourself is to lose yourself in the service of others." This is a small way to serve the financial community.

CFO Success Secrets

© Getty How long will it take you to finance a car?

Auto financing isn't getting any cheaper. With average payments of more than $500 a month, even for used cars, it's no wonder most borrowers stay on the loan for more than 60 months.

As car prices continue to rise along with other costs, many buyers are finding it increasingly difficult to pay off a 60-month car loan at once. Since 2020, the number of borrowers who have received loans for 60 months has decreased by almost 6%, while the number of borrowers who have received loans for more than 73 months has increased by almost 11% in the same period.

Even though you can finance a car for nearly ten years, that doesn't always mean you should. Here's what auto loan terms mean for you and your credit term.

How to finance a car?

If you don't have enough money to buy a car, which most people don't, you can get a car loan. If you go this route, the lender pays the seller for the value of the car and you pay the lender each month until the loan is paid off.

When you apply for a car loan, loan eligibility depends on factors such as your credit score, your debt-to-income ratio (DTI) and the amount you're borrowing. Once approved, your monthly payment will never change; A portion of each payment goes toward interest, and the rest goes toward principal (the original amount you borrowed). The loan amount you receive may be less than the value of the car you are financing.

How long can you finance a car for?

You can finance your car from a few months to 84 months or more than seven years. The most common term is 72 months or six years, followed by 84 months.

The longer the term, the lower the monthly payments, but the higher the overall interest rate. On the other hand, shorter terms mean higher monthly payments, but you pay off the car faster and pay less interest.

In most cases, you can finance the car for as long as you need, as long as your lender and the seller agree on the terms. Say more if you have excellent credit and a proven history of on-time payments and reliable income. If you have bad credit and low income, you may not carry as much weight in car buying negotiations.

Advantages and disadvantages of long term car loans

Be sure to weigh all the pros and cons of a long-term car loan before applying.

Advantages of long term car loan

• Low monthly payments: For borrowers who don't have a large monthly car payment budget, longer terms may be the cheapest option.
• Reduced risk of default: The cheaper your car payment, the less likely you are to miss a payment. If you fall behind on a payment, your car can be repossessed and your credit score can be severely damaged, reducing your chances of getting a loan in the future. Paying on time plays an important role in a high credit score.

Disadvantages of long term car loan

• Higher interest rates: Longer term auto loans usually have higher interest rates. You'll also pay more interest over the life of the loan because you owe more.
• Lower costs: Because longer loan terms cost more, by the time you pay off the car, you may have paid more than it was worth. You also need more time to build equity in your car, so if you want to resell the car before paying off the debt, you could end up losing money.

What do you need to finance a car?

When preparing to finance a car, keep the following details in mind:

• income Lenders want to see that you can afford the monthly loan payment. You may need to provide proof of income from your main job, side business and any assistance you receive from the government.
• Deposit When you sell your car, you can use it as a down payment on a new car. Otherwise, you may need to set aside a savings fund first. The higher the down payment, the less you have to borrow. In some cases, you don't need to buy a car, but it can increase your chances of getting a permit.
• Strong credit rating. The higher the credit rating, the lower the interest rate. Paying off your debt and keeping your DTI ratio low can improve your chances of getting higher rates. If you don't have good credit, consider applying with good or excellent credit.
• Rate your purchases. You don't have to rate the store, but it's a good idea. Compare multiple auto lenders to get the best rate for your situation. If you have the time and resources, you can get pre-approved by your bank or credit union instead of getting financing through a dealership.

Short-term or long-term car loan: which is better?

The best loan terms are those that suit your specific needs. When considering your options, use our car loan calculator to estimate what you can afford.

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• Chancellor of the Exchequer Jeremy Hunt said on Friday he would push for higher taxes and called for Brexit to be a "catalyst" for UK economic growth.
• The UK has appealed to global tech companies for help to make it the 'next Silicon Valley of the world'.
• Hunt's speech comes as UK inflation recently hit 10.5% in December, beating the Bank of England's 2% target.

© CNBC Contributor Jeremy Hunt gave a speech on Friday outlining the UK's economic growth plans.

LONDON – British Chancellor Jeremy Hunt said on Friday he would push for higher taxes, stressing the importance of making Brexit "mandatory" for UK growth.

"The best tax cut is to reduce inflation," Hunt said in a speech to tech giants including Amazon, Google and Methane as he sought to lift the UK economy out of the "gloom".

There has not been "enough" optimism in the UK economy in recent months, Hunt said.

Hunt told the companies they were important to the UK's prospects but that "the UK is very important to your future" and asked them to help make the country "the next Silicon Valley of the world".

The Minister of Finance emphasized making the United Kingdom a place where companies can do business.

He insisted the UK should have "nothing less than the most competitive tax regime of any major country", despite a proposed rise in corporation tax from 19% to 25% after it was scrapped by former finance minister Kwasi Kwarteng.

Susan Streeter, senior investment and market analyst at Hargreaves Lansdowne, said Hunt's recent comments were more about improving the picture of UK economic conditions than introducing new policies.

“Jeremy Hunt is committed to rebuilding the UK economy, from the firefighter to the construction worker. But there are no ready-made concrete solutions to the problems plaguing the UK,” Streeter wrote in an analyst note.

Details are "very lacking," he added, adding that "the architects of this plan don't know exactly how it's going to be paid for."

The pound fell 0.25% to $1.237 against the dollar after the speech. Hunt has made up some of his losses since entering the competition, but Thursday he was just shy of the six-week mark.

Hunt's speech comes as UK inflation recently hit 10.5% in December, beating the Bank of England's 2% target. The bank will then meet on February 2 to decide on monetary policy.

Concerns about the US deflationary law

Jeremy Hunt said the UK government had some concerns about the US anti-inflation law during a question-and-answer session after his speech on Friday.

The controversial Repeal Act is a landmark climate and tax deal that will bring billions of dollars to climate change programs and accelerate America's transition to zero carbon.

"We believe in free trade and we believe that if we want to achieve the all-important net zero, we will be more effective if we remove our American competitive advantage," Hunt said on January 19, citing concerns raised by EU Trade. Commissioner Valdis Dombrovskis said the measures would "discriminate against EU trade".

“Are we worried about the long-term future of our clean energy industry? Absolutely not,” Hunt added.

Hunt's comments echo those of his German counterpart, Christian Linder, who told CNBC in November that he was "concerned about the implications of the deflation rule."

"Our overall approach must be to ensure that valued partners remain preferred business partners," he said.

Questions to the Prime Minister (PF) – 25 January 2023