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The pressure to get out of debt

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by Vicky Monroe

sideline

One of the most popular personal finance recommendations for people in debt is to get a side job. Dave Ramsey, for example, says you should deliver pizza after work to attack your debt with «gazelle intensity.» But working 10-12 hours a day at two different jobs is a recipe for burnout, especially if you have a chronic illness, mental condition, or family commitments.

With rising inflation and the looming recession, I felt the pressure to take on additional freelance paperwork and sell more of my woodworking projects. But I’ve found over the years that side-hustling isn’t always a good solution. Here’s why.

Dealing with rising costs

Like everyone else, my partner and I are feeling the rising costs. Our monthly grocery and gas bills have increased by $500 a month, and we brace ourselves for high heating bills as we head into the fall and winter in the upper Midwest. As all homeowners know, everything in the house seems to break down at the same time. This month alone we’ve spent $3,000 on various repairs including fixing our broken oven.

When rising costs or unexpected expenses mess up your budget and push back your debt-paying time, entertaining yourself seems necessary to stay on track. The message we get from personal finance gurus like Dave Ramsey is to push harder and work harder when adverse circumstances interfere with our debt-paying plans. We are rarely encouraged to give ourselves grace and slow down our schedule to adjust to our changing financial reality.

But I’m trying to fight the pressure I’m feeling to get more work on my plate because I know from past experience that side hustles don’t always help.

Side jobs don’t always help

When I overexert myself, I feel stressed and spend more money to deal with the anxiety. This bad habit reduces the amount of money I can save from the overtime I’ve worked. Although I’ve tried to be more self-disciplined, it’s hard to stick to a budget when you’re overwhelmed and not thinking rationally.

Apparently this is a fairly common problem. More than half of Americans shop impulsively to help cope with stress, depression, and anxiety, sometimes as often as once a month. If a part-time job is stressing you out and making you more likely to overspend, it might not be worth it.

Because I have multiple chronic illnesses, the stress of overworking myself can make my symptoms worse and result in increased medical costs. A few months ago I signed additional writer deals to combat the impact of inflation on my budget.

Because I was overworked with work, I ended up in the hospital with an elevated heart rate that wouldn’t go down and palpitations, probably caused by my heart condition called POTS. While fear wasn’t the only factor, it definitely played a role and made the flare-up worse. The ER visit cost me several hundred dollars, so any additional income I could fuel and rush through myself had fizzled.

Accept my limitations

After that incident, I made a promise to myself to be more aware of my limitations and accept that traditional personal financial advice doesn’t always work for me. Just because I’m not part-time and working 60-hour weeks doesn’t mean I’m not motivated to get out of debt.

My debt payment date is several years away and has had to be pushed back a few times due to life’s twists and turns. I’ll never be able to write a high-quality article about how I paid off six-figure debt in one year. But even if I have to slow down, I will eventually get out of debt. After all, they say slow and steady wins the race!

Do you have a part-time job to pay off your debts? Why or why not? I’d love to hear your thoughts in the comments below!

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Hope’s Debt Update – August 2022

Hello again from Georgia

A look into my personal debt

Does McDonald’s accept Apple Pay at Drive Thru or in store?

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In short, yes – McDonald’s accepts Apple Pay as a payment method. This is great news for those of us trying to break away from traditional methods like cash and credit cards.

Apple Pay is a digital wallet service that lets you store your credit and debit card information on your iPhone, iPad, or Apple Watch. You can then use these devices to pay for purchases at participating stores and restaurants.

McDonald’s is one of the many retailers that accept Apple Pay. This means you can pay for your McDonald’s order using your iPhone, iPad or Apple Watch.

Introduction to McDonald’s

McDonald’s is an American fast food restaurant chain. It was founded in 1940 as a grill restaurant by brothers Richard and Maurice McDonald. In 1961, the company changed its name to McDonald’s Corporation.

The first McDonald’s franchise opened in Des Plaines, Illinois in 1955. The company today has over 36,000 locations in over 100 countries and is one of the best franchises in 2022.

Introduction to ApplePay

Apple Pay is a digital wallet service that lets you store your credit and debit card information on your iPhone, iPad, or Apple Watch. You can then use these devices to pay for purchases at participating stores and restaurants.

Apple Pay was first introduced in 2014. It is available in US, UK, Canada, Australia and China.

Does McDonald’s accept Apple Pay?

Yes, McDonald’s accepts Apple Pay as a payment method. This means you can pay for your McDonald’s order using your iPhone, iPad or Apple Watch.

Which restaurants accept Apple Pay in-store?

  • KFC
  • Wendy’s
  • arbys
  • Burger King
  • white lock
  • Baskin Robbins
  • Tacobell
  • Subway
  • panera bread

How do you use Apple Pay at McDonald’s?

Checking out with Apple Pay at McDonald’s is easy. Just follow these steps:

  1. Open the Apple Wallet app on your iPhone or iPad.
  2. Select the card you want to use for payment.
  3. Hold your device near the contactless reader until Done and a tick appear on the screen.
  4. You may be asked to enter your PIN or sign a receipt.

That’s it! Your payment is being processed and you’re on your way.

Are there any fees for using Apple Pay at McDonald’s?

No, there are no fees for using Apple Pay at McDonald’s. You pay the same price for your order whether you use Apple Pay or a traditional method like cash or credit card.

Can I get a refund through Apple Pay?

If your order didn’t go as planned, you can get a refund like any other payment method. For more information, please contact your local McDonald’s.

How to set up Apple Pay on your iPhone or Apple Watch

If you haven’t already done so, you’ll need to set up Apple Pay on your iPhone or iPad. You can do this by opening the Wallet app and following the instructions.

If you use an Apple Watch, you can set up Apple Pay by opening the Apple Watch app on your iPhone and tapping Wallet & Apple Pay. From there, just follow the instructions.

Once you set up Apple Pay, you can use it at McDonald’s and other participating stores and restaurants. Happy eating!

How to use Apple Pay Inside McDonald’s with your iPhone or Apple Watch

If you’re using an iPhone to pay with Apple Pay at McDonald’s, follow these steps:

How to use Apple Pay on the McDonald’s drive-thru window with your iPhone

Tell the cashier you’re paying with Apple Pay when you’re at the checkout. Then scan your iPhone or Apple Watch with the reader next to the drive-through window.

You may be asked to enter your PIN or sign a receipt. That’s it! Your payment will be processed and you can start driving.

Here’s a video that shows it a little better:

How to use Apple Pay at McDonald’s with your Apple Watch

  1. First, double-tap the side button to the right of the watch face.
  2. Next, enter your passcode when prompted.
  3. Finally, hold your Apple Watch over the contactless payment reader until the payment is complete. That’s it!

How to use Apple Pay on the McDonald’s Drive-Thru window with your Apple Watch

  1. First, tell the cashier you’ll be paying with Apple Pay and ask her to hand you the card reader. Why? Your Apple Watch needs to be in close contact with the payment machine, which is difficult with a drive-thru. Don’t worry, the card readers have a long cable making this easy.
  2. Now double-tap the side button to the right of the watch face.
  3. Next, enter your passcode when prompted.
  4. Finally, hold your Apple Watch over the contactless payment reader until the payment is complete. That’s it!

How to use Apple Pay at a McDonald’s kiosk with an iPhone

If your McDonald’s has a self-service ordering kiosk, you’ll want to know how to use Apple Pay to pay with your iPhone.

  1. First, double-click the right side button of your iPhone.
  2. Next, look at your iPhone’s screen if you’re using Face ID, place your finger on the home sensor if you’re using Touch ID, or enter your passcode.
  3. Finally, hold your iPhone over the kiosk’s contactless POS reader, which is where you would normally insert your credit card. Keep holding it until you hear a ping, see a green tick on the payment reader, or see a tick and the word «Done» on your iPhone’s screen. That’s it!

How to use Apple Pay at a McDonald’s self-service kiosk with your Apple Watch

If your McDonald’s has a self-service order kiosk, you’ll want to know how to use your iWatch to pay with Apple Pay.

  1. First, double-tap the side button to the right of the watch face.
  2. Next, enter your passcode when prompted.
  3. Finally, hold your Apple Watch over the kiosk’s contactless payment reader, where you would normally stick your credit card, until the payment is complete. That’s it!

How to use Apple Pay with the McDonald’s mobile app

  1. Open the McDonald’s mobile app, log in and select your local restaurant location.
  2. Choose your food and add it to your shopping cart
  3. Go to your shopping cart, review your items and proceed with payment.
  4. Choose your collection or delivery time, enter your details and choose Apple Pay as the payment method.
  5. Enjoy your food!

Does McDonald’s accept Google Pay or Samsung Pay?

As of 2022, McDonald’s will accept both Google Pay and Samsung Pay in-store and during drive-thru. However, neither the McDonald’s app nor any other software supports Samsung or Google Pay. In addition, wearable devices compatible with both Google and Samsung Pay are accepted by McDonald’s.

McDonald’s accepts Apple Pay as a payment method

As you can see, McDonald’s accepts Apple Pay as a form of payment. This is great news for those of us trying to break away from traditional methods like cash and credit cards.

With the shift from delivery service apps like Uber Eats and Delivery Orders, most people are wondering if the fast-food giant will accept Apple Pay as a mobile payment option.

With Apple Pay you can pay for your McDonald’s order contactlessly with your iPhone, iPad or Apple Watch. There are no fees to use Apple Pay, and you can even get a refund if your order doesn’t go as planned.

So next time you’re at McDonald’s, be sure to try Apple Pay to order your Big Mac!

How to buy Dai crypto

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Dai is a stablecoin that aims to keep its value around $1 at all times. Dai tokens come from the Maker protocol, which is one of the largest decentralized applications (or dapps) available on the ether Blockchain. To understand how Dai works, it helps to first know about the Maker protocol, the platform that generates the stablecoin and is part of a larger crypto ecosystem:

  • The Maker log is maintained by MakerDAO (pronounced “Maker Dow”), a peer-to-peer crypto lending and lending organization.

  • MakerDAO is a decentralized autonomous organization, or DAO, meaning it is controlled by the votes of its members, not by a central authority; Specifically, it is managed by those who hold MKR tokens, another token inherent to the Maker protocol.

  • Dai is backed by crypto assets the MKR holders have agreed to accept as collateral. Some stablecoins are backed by fiat currency instead government-backed currencies like the US dollar.

You can buy Dai with traditional currency on an exchange or take out a loan with another cryptocurrency as collateral. Dai tokens are over-collateralised, which means that in order to generate Dai tokens, users must deposit funds that are worth more than the Dai they wish to generate. For example, a user might need to deposit $150 in Ether (or ETH, Ethereum’s native token) to generate $100 in Dai.

The ETH used as collateral is effectively locked and can be returned if the user pays back the generated Dai tokens plus a fee. Investors can choose to post collateral and use Dai to avoid volatility or avoid the tax consequences of exchanging crypto for traditional currency.

The Maker protocol requires investors to pay a «stability fee» to get their collateral back in exchange for Dai. Alternatively, investors can earn interest by holding Dai on different platforms.

1. Decide if you want to invest in Dai

Since Dai is a stablecoin, large changes in value would be unlikely, but not unprecedented. While Dai has remained fairly stable, other stablecoins have failed or stalled. For example, TerraUSD — which now trades as TerraClassicUSD — was a stablecoin backed by a cryptocurrency that lost its peg and May 2022 collapsedlost $60 billion in market cap and caused multi-billion dollar damage to the larger crypto sector.

Dai is not well-suited for investors looking for rapid growth for their wealth, but it offers more stability and liquidity than most other cryptocurrencies.

Compared to other stablecoins, Dai also offers more transparency for investors. Unlike most other coins, it has been audited by external security firms and software analysis companies.

While stablecoins offer many advantages, they don’t offer a great safety net if something goes wrong. While the dollars in your bank account are being held by the Federal Deposit Insurance Corp. are insured for up to $250,000, the crypto assets you keep on an exchange or in a wallet are not.

2. Find a place to buy Dai

As the native cryptocurrency for one of the largest dapps running on the Ethereum platform, Dai tokens are not hard to find. They can be traded on most major cryptocurrency exchanges or peer-to-peer networks and are compatible with most cryptocurrency wallets. While there is a long list of options on where to buy Dai tokens, they can be broadly classified into two different categories: centralized and decentralized.

Centralized Exchange

Centralized exchanges like coin base, octopus or KuCoin all carry Dai. Centralized exchanges provide third-party oversight and act as the governing body for all transactions on the exchange.

Centralized exchanges are easy to find and don’t require much technical expertise, so they’re generally good for investors new to cryptocurrency. But they usually charge higher fees for each transaction. They also handle a large number of transactions in one place, making them a popular target for hackers.

Decentralized exchange

Oasis, Kyber, and Uniswap are some decentralized exchanges that carry Dai on their platforms. Decentralized exchanges trade on a peer-to-peer basis using automated smart contract technology on a blockchain. Smart contracts are coded to run automatically when certain requirements are met. For example, a contract could transfer ownership of an asset from a seller to a buyer once the buyer sends a specified amount of crypto to the seller’s wallet.

Since these exchanges have no third-party oversight, they offer lower transaction fees. However, without a central authority at the helm, investors have little to no recourse if a transaction goes wrong. Decentralized exchanges generally require a bit more technical know-how, so they are better suited for a more experienced cryptocurrency investor.

3. Decide how you want to pay for Dai

After choosing an exchange to use, there are a few different ways you can acquire Dai tokens for your portfolio:

Cash

You can just deposit cash into your exchange account and place an order to buy Dai. There are several exchanges (both centralized and decentralized) that support Dai and Fiat currency transactions. Exchanges typically accept debit card, ACH, bank transfer, or Apple Pay deposits to fund your account. (There are some that accept credit cards, but this can be extremely risky, so make sure you do your own research before initiating a credit card transaction).

Exchanges like Coinbase, Kraken, and Changelly are all platforms where you can buy Dai tokens with cash. There are some exchanges with geographical restrictions. Therefore, please ensure you are in a supported location before initiating transactions.

cryptocurrency

Investors who already own cryptocurrency can transfer digital assets to an exchange where Dai is available and exchange another cryptocurrency for Dai. However, exchanges place limits on which cryptocurrencies you can trade. For example, on the Bittrex exchange, you could trade Ethereum, Bitcoin, Tether, and USD Coin for Dai. Or you could sell your crypto and buy Dai with cash; it would only require one additional step in the process.

4. Decide how to store your Dai

Once you own Dai, you can save it in a number of ways:

With an exchange

Once you’ve successfully bought some Dai tokens, the exchange allows you to keep your digital assets in your account, also known as a custodial wallet. For those familiar with traditional investing through brokerage accounts, you might think of this option as similar to holding brokerage money in an account rather than transferring it to your bank.

Storing cryptocurrency in an exchange account is the easiest way to store assets, so it might be the easiest option if you’re new to crypto. However, these digital assets could still be lost if the exchange is hacked or becomes insolvent or unable to pay its debts. While exchanges have done a lot to improve security recently, the assets they hold have long made them targets for hackers.

In a separate crypto wallet

A crypto wallet can protect your Dai tokens from potential exchange hacks or bankruptcy, but also require a bit more responsibility from the user.

  • Hot wallets always stay connected to the internet. Since they can be accessed online, hot wallets are easily accessible and more convenient to use. However, this easy access comes with a certain risk; An internet connection can make you more vulnerable to hacking and online scams like phishing.

  • Cold wallets are physical storage drives that you can use to store digital assets, but they are completely offline. Since they are not connected to the internet, the assets in your wallet are less vulnerable to cyberattacks. However, in order to access the contents of your wallet, you must have the storage device with you, making this option less convenient for investors who want to access their cryptocurrency from anywhere.

Neither the author nor the publisher were involved in the above holdings at the time of publication.

What is cryptocurrency? And how do you invest in it?

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Blockchain allows users to send money anywhere in the world without paying an intermediary like a bank or remittance service to convert currency or handle the transaction process.

«Once a transaction has been recorded on the blockchain, its decentralized nature and cryptographic algorithm make it virtually impossible to tamper with,» says Connors. Cryptography refers to techniques used to keep information and communications secure and private, restricting access to only the sender and recipient.

How is crypto used?

Crypto adoption is still in its infancy, and crypto coins are not widely used as currency — at least not yet. However, companies worldwide are increasingly interested in these new digital assets and using them for investment products, money transfers and business transactions. It is also used in decentralized applications (dApps) that offer crypto-enabled financial products and services such as loans, insurance, and smart contracts.

«The primary use for cryptocurrencies is as a way to store value and send and receive payments at low cost and at high speed, without intermediaries, unlike current payment lanes,» says Connors. He adds that cryptocurrencies could ultimately be used for any financial transaction.

What are altcoins?

Since the launch of Bitcoin (BTC for short) in 2009, thousands of other crypto coins have appeared, with many of their developers attempting to improve on Bitcoin’s features and functions. These are collectively referred to as “altcoins” or alternatives to bitcoin.

BTC is still the most dominant digital coin, both in terms of size and adoption – accounting for about 40% of crypto’s market cap. Bitcoin is followed by ether (ETH), the native coin of the Ethereum blockchain. Other cryptocurrencies gaining traction and market value include ADA (Cardano Blockchain), SOL (Solana), LTC (Litecoin), XLM (Stellar), MATIC (Polygon), DOT (Polkadot), USDC (USD Coin) and AVAX ( avalanches). as well as the memecoins DOGE (Dogecoin) and SHIB (Shiba Inu).

«Cryptocurrencies differ in their underlying cryptography, technology and networks, but what they have in common is that they are all useful as digital or virtual currency alternatives to traditional fiat currency,» Connors assures.

Today, the crypto market is flooded with thousands of different digital coins. Some crypto investors prefer to stick to «blue chip» coins like Bitcoin, Ethereum, and Cardano. Others may be drawn to smaller, less established coins, including memecoins like Dogecoin and Shiba Inu.

These are the best jobs that don’t require any experience

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Looking for a new remote job? Remote work has become more common than ever. And luckily, not all home office jobs require a lot of experience. You can already get started in some areas.

These nine remote jobs are more about a willingness to learn than years of experience.

1. Earn up to $69/hour by working from home

We get it. There are kids to take to school, errands to run, and dinner to cook, so the idea of ​​taking a full-time job without flexibility just doesn’t work for many people.

To be honest, life would be a lot easier if you could just make money without leaving your home. But that’s not something most employers offer. But have you thought about the accounting? According to an article in Inc Magazine, it is the #1 most profitable business.

According to Intuit, the creator of QuickBooks, you could make up to $69 an hour by starting your own bookkeeping business.

You don’t have to be an accountant or good at calculus to be successful at bookkeeping. As long as you’re motivated, a company called Bookkeepers.com will teach you everything you need to know. It’s one of the leading training courses in the field, in fact gives you the first three classes for free.

It has helped thousands of people start their own businesses, including Daniel Honan, a military veteran and former painter. He never thought of starting his own business, but he signed up with Bookkeepers.com and is now making $50,000 a year.

It only took him three months to get started and was taking one class a week. Oh, and he makes his own schedule, makes up to $69 an hour and is able to spend more time with his wife than ever before.

If you’re just a little curious, you simply have to do it enter your email address here to attend the first free class. If you stick with it, you could be running your own business in just a few months.

2. Get paid up to $83 from this app when you win Solitaire games

Many of us already play solitaire on our phones for fun or just to pass the time. Want to see if you can win money doing it?

There is a free iPhone app called Solitaire Cash with which you can play for real money. You could be paid up to $83 per win.

You might be thinking: there must be a catch. This is definitely one of those spam apps, right?

Not correct. There’s really no catch. Sure, you can pay to enter some higher stakes tournaments, but there’s no pressure. And in fact, there aren’t even any annoying ads.

In each game you compete against at least five other players. Everyone gets the same deck, so winning is a matter of skill. The top three players who solve the deck the fastest can win real money – anywhere from $1 to $83.

Over on the App Store, it has over a million downloads and over 15,000 reviews averaging 4.7 stars (out of 5).

To start, just Download the free app and start playing your first game right away.

4. Earn over $300/month in passive income from your extra storage space

If you’re like us, your workshop probably isn’t doing much right now. Maybe you have a few tools there, or maybe it’s home to your boxes of odds and ends gathering dust.

But with a site called NeighborYour extra space — whether it’s a guest room, an empty garage, or a parking lot — could net you an extra $300 a month in total passive income.

Neighbor works by matching people who need space with hosts who have spare space. The average host makes around $300 a month, but some people have made as much as $50,000 a year just for letting people park on their property.

It takes less than 10 minutes to get started. Just answer a few questions about your accommodation, snap a few photos and set your asking price. Neighbor will recommend a dollar amount based on your location and type of rental, but the final listing is up to you.

Neighbor even offers up to $1 million in free protection for you as a host and offers protection plans for your tenants, giving you both peace of mind.

Neighbor is an easy source of residual income, and it’s easier than most side hustles. It’s free to list your room and you’re only charged a processing fee of 4.9% of your monthly profit, so there’s no risk involved.

Sign up here and see how much you could earn.

A woman works from home and her small dog sleeps on top of her.
Getty Images

5. Data entry clerk

If you have a high school diploma and can pass a typing test, you’re well positioned for a chance at a data entry job.

The role of data collection clerk or specialist is just as simple as the title suggests. In this entry-level role, you may also be asked to review, retrieve, reformat, or reorganize records.

While many data entry clerk positions require little or no prior experience, you’ll need quick fingers and an eye for detail. In addition to a writing test, you may also be asked to complete proofreading exercises and other tests that demonstrate your attention to detail.

6. Get paid up to $40/month just for sharing your opinion

Taking surveys might not sound like the best way to make money, but if you’re just lounging on the couch — or pretending to be interested in your partner’s new favorite show — why not click a few buttons? It could earn you up to $40 a month. Serious.

There are a number of paid survey sites out there, but one of the best we’ve found is survey junkie.

They ask you questions about things like: what kind of detergent do you useor if you prefer Pepsi or Cola. You get points for answering, and many people earn enough points to request a review within a few hours. Completing just three surveys a day can earn you as much as $40 a month.

Survey Junkie is already being used by over 10 million people and has a 4.5/5 star rating on TrustPilot.

Try it visiting Survey Junkie and click the Join Now button. It’s free.

7. Customer Service Representative

It’s not difficult to tell if someone has good people skills and is an effective communicator. Employers looking for customer service representatives can use interviews and tests to determine if you have these skills.

A lack of experience can be compensated for by on-the-job training. These jobs often provide you with a script and digital resources to help you answer relevant questions customers ask you during your phone call, video call, or chat session.

All types of businesses need brand ambassadors to help customers use and understand products and services. So you can find a job as an account manager almost anywhere.

8. teacher

Tutoring is one of the most flexible remote jobs out there. In many cases, you can set your own hours and collaborate with nearby and nearby students.

Many online tutoring companies and platforms offer training and digital training tools to facilitate your classes. Some of them will even match you with students, so you don’t even have to look for work.

While tutoring does not require work experience, academic experience will go a long way towards your success as a tutor. Companies have very different requirements to work as a tutor for them. Some only require a high school diploma, while others require a college degree.


BIG ENERGY COMPANIES PLAN CUTTING DOWN TO FREEZE BILLS

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reading time: 2 minutes

Will the government freeze bills? The cost of living crisis seems to be getting bigger by the day. News about inflation, increased energy bills, fuel costs and food prices are a daily occurrence. The fossil fuel industry in particular has taken a hit as the war in Ukraine has pushed up energy bills.

Annual energy bills are expected to reach nearly £5,000 in 2023. People have been pushed into fuel poverty and are struggling to make ends meet. But a small glimmer of good news is on the horizon. Two of the country’s largest utilities are backing a plan that aims to freeze bills for two years.

The plan

Centrica, the parent company of British Gas and Octopus Energy, is said to strongly support a plan aimed at spreading the cost of rising energy prices over the next decade. It’s a plan that’s currently being discussed in the energy industry. A multi-billion pound facility would be created. This spreads the cost of emergency financing and makes energy bills more sustainable in the short term.

Commercial banks would pay money into a government-backed fund. Suppliers could then use this fund to cover the difference between what they charge customers and the actual cost of the invoices. To repay this, an additional levy would be levied on the energy bill for the next 10 to 15 years. The current energy price cap is £1,971 per year and is expected to rise in October.

Nicknamed the ‘Bargain Deficit Fund’, this plan was put to the Government by EON and Scottish Power.

Octopus Energy and Centica

Octopus’ chief executive said urgent action was needed to help customers with the rapidly rising costs of their energy bills. He also explained that the tariff deficit fund is among the options the government needs to consider to ensure the country doesn’t suffer any further in the winter months.

Centrica declined to comment on the ongoing discussions. However, they have suggested that clear action needs to be taken. This is intended to combat the energy crisis and inflation.

the energy price ceiling

The new energy price cap is expected to take effect on April 26th August. She occurs on the 1stSt October of this year. With two of the country’s leading utilities backing the plan, both with customer bases in excess of 10 million each, serious weight has been placed behind these plans to freeze bills.

We will keep our readers informed of the upcoming price cap announcement and any updates to this story. Here you will find all the news.



Energy Costs: How much does it REALLY cost to run your home?

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reading time: 3 minutes

Energy Costs: With all the talk of rising energy costs, many are wondering if it’s even possible to bring them down. Sure, we all have to consume what we need and pay for it every month, but what about the hidden energy costs that are accruing without us even knowing about it?

Some of the following stats may shock you, while at the same time highlighting a way you can potentially save hundreds of expenses a year: without really doing much.

LIGHTING

energy costs

Ideal Home found that if we leave the lights on when we sleep, we waste £0.77 for every eight hours of sleep; £23.42 per month or £281.05 per year. Energy Savings Trust reports that replacing your lightbulbs with energy-efficient ones could save you £55 a year. There’s an upfront cost of the bulbs, of course, but offset that against the money you’re saving and you can see an immediate saving.

Confused about energy have this great guide on which lightbulbs use how much energy and money.

BOILER

If you have a combi boiler they’re usually kept at a default setting of 80°C, but they work just as well – and save money, of course – on a lower setting, so check what setting yours is on.

REFRIGERATORS

energy costs


Your fridge freezer costs almost £100 a year, so you can make it more energy efficient by making sure it’s at least three quarters full: this can save you £15 a year if you only have a few items in it.

Energy costs in STANDBY MODE

Do you have a heated towel rail in the bathroom or electrical equipment on standby in the kitchen? The average cost of running an average heated towel rail 24 hours a day is £0.23 per 24 hour day.

MoneySupermarket recently found that the cost of keeping the following items on standby per year (that is also than their daily use) is:

Digital TV Box – £36.91

Multi-room speaker (in sleep mode) – £27.52

Routers – £7.51

Microwave (left on) – £4.53

Digital watch (left on) – £2.56

TV (standby) – £1.72

Coffee maker (on) – £1.68

Phone charger (plugged in, not charging) – £0.37

All those items that go unused on standby? A whopping £82.80 a year! By simply turning off these items when you’re not using them, you can save yourself that extra financial burden.

STREAMING SERVICES

energy costs

Check which streaming services you’re currently subscribed to: Disney+? Amazon Prime? Netflix?

If you only have those three, that’s £26.97 a month, or £323.64 a year. Do you really need them all?

Check your bank statements to see how much you’re actually spending on these services per month and if you’re getting your money’s worth. Some of them have add-on services like BritBox that cost even more.

Do you subscribe to music services like Apple or Amazon? Again, a few pounds here and there and you’ll be spending more money a year than you probably remember.

WATER

If you’re single, live in a smaller property, or don’t use a lot of water, you can save by having a water meter installed that measures your water usage so your supplier can get more accurate bills. You could save money if your house has fewer people than bedrooms: a water meter could save you around £200 a year in this case.

Quite an eye opener, some of these. Take a look around your own home and see where things can be turned off, rearranged or withdrawn altogether. It may seem like pennies but as you can see the costs add up and even though the cost of energy is so high you are saving hundreds a year which in these times let’s be honest is nothing to scoff at.

Additional reading and hacks.

Save money on your energy bill with this hack.

Reduce your energy bills with this hack.



15 Highest Paying Cities for Mechanical Engineers in 2022

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mechanical engineer
nd3000 / Shutterstock.com

Editor’s Note: This story originally appeared on Construction Coverage.

Experts of all stripes agree that the fields of science, technology, engineering and mathematics (STEM) are vital to the US economy. A 2020 study estimates that STEM supports 67% of jobs in the US and 69% of the country’s GDP.

Through innovation and technological advances, STEM subjects help improve quality of life, make businesses more productive, and create new economic opportunities. And for students or professionals considering a new career, the STEM fields are teeming with quality jobs: STEM jobs have grown 79% over the past three decades and are expected to grow another 11% by 2030.

Of these areas, mechanical engineering is one of the most important for driving the US economy forward. Mechanical engineers research, design, develop, and build a wide variety of mechanical devices. Her work touches almost every aspect of life in the United States, from everyday consumer goods like cars or home appliances to tools that drive the economy like manufacturing plants. And increasingly, mechanical engineers are working with innovative new technologies such as robotics or nanotechnology that could open up new economic frontiers.

Given such an important role in the US economy, career prospects for mechanical engineers are promising. The Bureau of Labor Statistics forecasts a 7% growth rate for jobs in this field through 2030. As manufacturing technologies become more complex, the skills of mechanical engineers will continue to be in demand.

To determine the highest-paying locations for mechanical engineers, Construction Coverage researchers calculated the median annual wage for mechanical engineers, adjusted for the cost of living. The data used in this analysis comes from the US Bureau of Labor Statistics employment and wages datasets and the US Bureau of Economic Analysis regional price parity datasets. Read more about our methodology at the end.

Here are the highest paid subs for mechanical engineers.

15. Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

Philadelphia, Pennsylvania at dusk
f11photo / Shutterstock.com
  • Median annual salary for mechanical engineers (adjusted): $97,107
  • Median annual salary for mechanical engineers (actual): $99,340
  • Average annual salary for all architecture and engineering jobs (actual): $87,550
  • Average annual salary for all occupations (actual): $47,530
  • Concentration of mechanical engineers (compared to average): +24.0%

14. San Antonio-New Braunfels, TX

San Antonio, Texas outdoors
Sean Pavone/Shutterstock.com
  • Median annual salary for mechanical engineers (adjusted): $97,181
  • Median annual salary for mechanical engineers (actual): $95,140
  • Average annual salary for all architecture and engineering jobs (actual): $76,110
  • Average annual salary for all occupations (actual): $37,960
  • Concentration of mechanical engineers (compared to average): -54.0%

13. Austin-Round Rock-Georgetown, TX

Traffic in Austin, Texas
Philip Lange / Shutterstock.com
  • Median annual salary for mechanical engineers (adjusted): $97,986
  • Median annual salary for mechanical engineers (actual): $99,750
  • Average annual salary for all architecture and engineering jobs (actual): $80,120
  • Average annual salary for all occupations (actual): $46,910
  • Concentration of mechanical engineers (compared to average): -12.0%

12. Las Vegas-Henderson Paradise, NV

Las Vegas at night with mountains
egd/Shutterstock.com
  • Median annual salary for mechanical engineers (adjusted): $98,045
  • Median annual salary for mechanical engineers (actual): $95,300
  • Average annual salary for all architecture and engineering jobs (actual): $78,210
  • Average annual salary for all occupations (actual): $37,550
  • Concentration of mechanical engineers (compared to average): -70.0%

11. Salt Lake City, Utah

Salt Lake City, Utah
f11photo / Shutterstock.com
  • Median annual salary for mechanical engineers (adjusted): $99,376
  • Median annual salary for mechanical engineers (actual): $97,090
  • Average annual salary for all architecture and engineering jobs (actual): $77,550
  • Average annual salary for all occupations (actual): $46,900
  • Concentration of mechanical engineers (compared to average): -1.0%

10. St.Louis, MO-IL

Homes in St Louis Missouri
Rob Neville Photos / Shutterstock.com
  • Median annual salary for mechanical engineers (adjusted): $99,582
  • Median annual salary for mechanical engineers (actual): $95,300
  • Average annual salary for all architecture and engineering jobs (actual): $79,150
  • Average annual salary for all occupations (actual): $44,050
  • Concentration of mechanical engineers (compared to average): -36.0%

9. Nashville-Davidson-Murfreesboro-Franklin, TN

Nashville, Tennessee
jdross75 / Shutterstock.com
  • Median annual salary for mechanical engineers (adjusted): $100,093
  • Median annual salary for mechanical engineers (actual): $97,090
  • Average annual salary for all architecture and engineering jobs (actual): $77,540
  • Average annual salary for all occupations (actual): $39,260
  • Concentration of mechanical engineers (compared to average): -41.0%

8. Pittsburgh, Pennsylvania

Pittsburgh
esb-professional / Shutterstock.com
  • Median annual salary for mechanical engineers (adjusted): $100,731
  • Median annual salary for mechanical engineers (actual): $96,400
  • Average annual salary for all architecture and engineering jobs (actual): $79,130
  • Average annual salary for all occupations (actual): $46,210
  • Concentration of mechanical engineers (compared to average): +101.0%

7. Detroit-Warren-Dearborn, MI

Detroit, Mich
Susanne Pommer / Shutterstock.com
  • Median annual salary for mechanical engineers (adjusted): $101,710
  • Median annual salary for mechanical engineers (actual): $98,760
  • Average annual salary for all architecture and engineering jobs (actual): $80,250
  • Average annual salary for all occupations (actual): $47,570
  • Concentration of mechanical engineers (compared to average): +516.0%

6. Tucson, Arizona

Tucson, Ariz
Sean Pavone / Shutterstock.com
  • Median annual salary for mechanical engineers (adjusted): $103,507
  • Median annual salary for mechanical engineers (actual): $97,090
  • Average annual salary for all architecture and engineering jobs (actual): $94,240
  • Average annual salary for all occupations (actual): $38,050
  • Concentration of mechanical engineers (compared to average): +119.0%

5. Cincinnati, OH-KY-IN

Cincinnati, Ohio
Bryan Busovicki / Shutterstock.com
  • Median annual salary for mechanical engineers (adjusted): $104,096
  • Median annual salary for mechanical engineers (actual): $97,330
  • Average annual salary for all architecture and engineering jobs (actual): $79,140
  • Average annual salary for all occupations (actual): $42,600
  • Concentration of mechanical engineers (compared to average): +53.0%

4. San Francisco-Oakland-Berkeley, CA

san francisco
Maridav / Shutterstock.com
  • Median annual salary for mechanical engineers (adjusted): $104,693
  • Median annual salary for mechanical engineers (actual): $122,910
  • Average annual salary for all architecture and engineering jobs (actual): $102,730
  • Average annual salary for all occupations (actual): $62,000
  • Concentration of mechanical engineers (compared to average): -15.0%

3. New Orleans-Metairie, LA

Stormy skies in New Orleans, Louisiana
GJGK Photography / Shutterstock.com
  • Median annual salary for mechanical engineers (adjusted): $107,905
  • Median annual salary for mechanical engineers (actual): $104,560
  • Average annual salary for all architecture and engineering jobs (actual): $79,980
  • Average annual salary for all occupations (actual): $38,060
  • Concentration of mechanical engineers (compared to average): -64.0%

2. San Jose-Sunnyvale-Santa Clara, CA

The San Jose skyline, which has a lower median rent than the median mortgage payment
stellamc/Shutterstock.com
  • Median annual salary for mechanical engineers (adjusted): $114,817
  • Median annual salary for mechanical engineers (actual): $128,710
  • Average annual salary for all architecture and engineering jobs (actual): $128,560
  • Average annual salary for all occupations (actual): $75,510
  • Concentration of mechanical engineers (compared to average): +111.0%

1. Houston-The Woodlands-Sugar Country, TX

Houston, Texas
Sean Pavone/Shutterstock.com
  • Median annual salary for mechanical engineers (adjusted): $125,714
  • Median annual salary for mechanical engineers (actual): $125,840
  • Average annual salary for all architecture and engineering jobs (actual): $98,640
  • Average annual salary for all occupations (actual): $44,630
  • Concentration of mechanical engineers (compared to average): +48.0%

methodology

Man analyzing data on a laptop
fizkes / Shutterstock.com

The data used in this analysis comes from the US Bureau of Labor Statistics employment and wages datasets and the US Bureau of Economic Analysis regional price parity datasets.

To determine the highest-paying locations for mechanical engineers, the researchers calculated the median annual wage for mechanical engineers adjusted for the cost of living. In the event of a tie, the location with the higher median annual non-cost-of-living wage for a mechanical engineer was ranked higher. To improve relevance, only metropolitan areas with at least 100,000 inhabitants were included.

Note: Only federal states and metropolitan areas with sufficient occupational and wage data were included.

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

How to manage money as a student in Canada

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How to make money as a student

Here are some ways you can earn some money on the side while juggling at school.

Take a part-time job

One of the most common ways to get extra money is through a part-time job. Consider working in retail, a restaurant, or a seasonal job that allows you to work at a tourist attraction or resort. A summer job is a great way to gain professional skills while enjoying your free time and a lighter course load.

When I was at university, I worked on campus as a teaching assistant and research associate. This was a convenient way for me to earn extra money between classes so I could pay my credit card bill each month and have a night out with my friends – without worrying if I could afford it.

Sign up for a cooperative or an internship

Enrolling in a program that offers a paid internship or co-op is a great way to gain work and industry experience and make some money.

what’s more These types of co-ops can often pay more than minimum wage. The average co-op salary in Canada is $12,400 per semester – a win-win situation. Be prepared to pay a co-op fee. Depending on whether you are a domestic or international student, the number of internship semesters, and the year you enter the program, the co-op fee can range from $485 to $1,063 per internship semester. This helps cover the costs of running the program, including helping students find jobs and prepare for job interviews. The amount you earn during your employment will more than make up for it.

Plus, you can add this experience to your resume to set yourself apart from the competition once you graduate and launch your career.

Apply for scholarships and fellowships

Let’s not forget about the scholarships and fellowships that you may be eligible for. There are countless opportunities to apply for financial aid each year and you can receive hundreds to thousands of dollars to pay for tuition. It can be really worth applying if you meet the criteria, which can be based on academic achievement and/or community involvement.

Do your research to find out which ones you qualify for and which are most likely to be granted. Make sure to submit your application before the deadline. Getting this funding allows you to manage your student loan debt so you don’t have to worry about extra shifts at your part-time job.

How to save money as a student

Regardless of how much income you earn, follow these steps to boost your savings.

Save money from your paycheck

A good habit is to stash money from each paycheck. This can be difficult as a college student since you’ll most likely have limited money to start with, but if you can set aside even $25 a week, you’ll have saved $1,300 in a year.

Save your pocket change

One way to save money effortlessly is to use a Roundup app to help you meet your savings goals. This gives you the ability to round up your purchases to a specified dollar amount and place that «gap money» in a savings or investment account. In Canada, fintech companies like Koho, Moka, and Wealthsimple offer this type of service. It’s also fun and motivating to watch your money grow.

Open a high-interest savings account

What to do with this saved money? Today, High Interest Savings Accounts (HISA) are back on the scene with some decent offerings since the Bank of Canada (BoC) hiked interest rates. It is suitable for those who want to grow their money over time. Looking for the best high yield savings account in Canada? Learn more about which account is best for you.

Benefit from the tax-free savings account

Another option is to put your savings into a Tax-Exempt Savings Account (TFSA). You are eligible to open this type of account if you are Canadian and over the age of 18. This year’s contribution limit is $6,000. To calculate your lifetime contribution space, try our TFSA contribution space calculator or visit the Government of Canada website.

Did you know that a TFSA isn’t just used for saving? You can also use it to invest your money e.g. B. buying an index fund or a guaranteed investment certificate (GIC).

How to budget as a student

There are undoubtedly many tempting things that you want to put in your cart when shopping. With so many social media influencers and celebs sharing their favorite products, it’s easy to get tempted to own what they’re selling you. So if you find yourself depleting your credit card each month, then take a step back and see what adjustments you can make to curb your spending. Which is very nice to understand…

What are your needs versus your wants?

One way to keep spending under control is to separate your “must-haves” from “nice-to-haves.” A «need» is something that is essential to you, such as: B. Groceries to prepare meals for oneself, while a «want» is something one would like but can wait to buy, such as: B. a brand new watch. The next time you’re deciding whether to buy an item you want, ask yourself these questions:

Reverence engages in hybrid SEIA as company enters M&A

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New York-based private equity firm Reverence Capital Partners has made an equity investment in Signature Estate & Investment Advisors, a Los Angeles-based hybrid registered investment advisor with over $16 billion in assets. Advisor Group, Reverence’s broker/dealer platform that powers Signature’s turnkey wealth management platform, has also made a minority investment in RIA. The transaction will allow SEIA, which has grown entirely organically over the past 25 years, to enter the M&A space for the first time.

The Reverence investment will also allow RIA to expand distribution of its Signature Investment Advisors turnkey wealth management platform. The TAMP is currently only offered to sales reps using Royal Alliance, a broker/dealer in the Advisor Group. It will now be available to advisors across all of Advisor Group’s b/ds as well as platforms outside of it, including the broader independent b/d and RIA channels through Schwab and Fidelity, their custodians.

Reverence owns a controlling interest in Advisor Group.

«We will be fundamentally open to doing business anywhere in the world,» said Brian D. Holmes, President and CEO of Signature Estate & Investment Advisors.

«This is one of the few hybrids to have its own TAMP and is focused on the high net worth space,» said Dan Seivert, CEO and managing partner at Echelon Partners, who served as investment banker on the transaction. “Many of the internal platform solutions are designed for the mid-to-low end of the market. It has investment technology and reporting technology that is more designed for high net worth investors.”

SEIA, which uses Royal Alliance for its brokerage business, also announced that it has formed its own broker/dealer, Signature Estate Securities, wholly owned by Holmes. He said the company has moved to launching its own b/d to streamline its systems and better serve customers through a unified platform. The company will begin transitioning its brokerage business, which accounts for just 5% of the company’s total revenue, to the new b/d over the next few months.

One of the reasons the company chose to partner with Reverence was that it would allow individual practices under the SEIA umbrella to retain their ownership rights.

«One of our requirements for attracting a capital partner was to allow these individual practices to own themselves and thrive and frankly take it to the next level,» Holmes said.

He said the firm will be working closely with Reverence on an M&A strategy in the coming months and would be a good transition platform for IBD or Wirehouse advisors looking to go hybrid. SEIA, which currently has 12 offices and 160 employees nationwide, intends to establish a national presence with a specific desire to add offices in the San Francisco Bay Area, Texas, New York and Florida.

«For RCP, this means they now have a platform in the wealth management space that they can use to make acquisitions,» Seivert said. Reverence has a b/d platform with Advisor Group and an alternative platform with CAIS. “They just missed that traditional RIA platform. And that really allows them to really take off because it’s such a large company that also has a focus on high net worth clients, which was exactly what they were looking for.”

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