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[ad_1] The post Why Getting a Second Job Is Important appeared first on Millennial Money. More and more young people are choosing to get a second job to make ends meet.  In one study, 61% of respondents said the current generation needs a side business for money, while 31% predicted having a side job will be the norm in the future. So, if you’ve been thinking about getting a part-time job on the side in addition to your full-time job, you’re not alone.  This article explores why getting a second job is important, and how you can pick up extra work to start earning more income.  What to do with a second job  Pay off credit cards and debt Save money in an emergency fund Invest Buy a house Look into alternative investments One of the most important things you can do for yourself after getting a second job is to tighten your money management skills and set some financial goals.  By getting a second job, you could easily start pulling in hundreds or even thousands of extra dollars per week.  As great as this sounds, it can be overwhelming.  Managing this kind of money requires discipline. If you’re not careful, it could be tempting to go on a spending spree. With discipline, you can maximize your earnings and protect your revenue stream. With that in mind, here are some ideas for how to allocate your side hustle money when you pick up a part-time gig. 1. Pay off credit cards and debt  If you have thousands of dollars in credit card debt and student loans, you need to get out of the hole as quickly as possible. In some cases, it makes more sense to pay off debt than to invest because you can get a better return.  Start by organizing your debt, and focus on paying off the highest interest debt first.  You may also want to consider consolidating your debt into one loan for an easy monthly payment at a lower interest rate.  2. Save money in an emergency fund Once your debt is at a reasonable level, start building an emergency fund. Open a high-yield savings account (HYSA) for flexible, high-interest savings and start putting as much money in as your budgeting allows.  Build up enough emergency savings to cover at least six months of savings in the event your main job falls through. If you’re working a lucrative side hustle, this shouldn’t take you long at all if you’re diligent about saving.  This is one of the smartest personal finance decisions you can make. It prevents you from having to rely on debt during an emergency and can help you coast until you get your next full-time job offer.  3. Invest  As you put money into savings, you should also invest through a brokerage account and a tax-friendly retirement account like an individual retirement account (IRA) or Roth IRA.  Take a portion of the extra income you bring in and spread it around into strategic investment accounts like stocks, exchange-traded funds, and bonds.  You don’t need a lot of money to start investing. Anyone can do it.  Just make sure you’re smart about how you handle taxes, especially if you’re working a side job as a 1099 freelancer or independent contractor. You’re going to have to set aside a portion of each invoice to cover income taxes, so you don’t want to tie all your money up in investments. Learn more: Investing for Beginners Roth vs. Traditional IRAs What is an ETF? Stocks vs. Bonds 4. Buy a house  Once you get a decent chunk of change saved up, you might decide to break the renting cycle and buy a house.  At this point, pick an area where you want to live, find a real estate agent, and go through the process of securing a mortgage loan and buying property. This experience can be a pain, and it could take months or even years to find a house that’s right for you.  Yet it’s a great financial decision. You’ll essentially be paying yourself instead of a landlord every month by building equity and paying down your mortgage.  If you already own a house, consider buying an investment property so you can start collecting residual monthly income from tenants. Passive income is one of the keys to building long-term wealth. One option is to combine homeownership and real estate investing into one purchase. Buy a multi-family house you can live in along with tenants. You’ll pay down the mortgage much faster this way.  5. Look into alternative investments As time goes on, continue diversifying your investments with your side hustle money. For example, you may want to look into a cryptocurrency like bitcoin, commodities, or fine art.  The more diverse your portfolio, the more financially secure you’ll become. So look around and explore different opportunities in addition to traditional deposit and investing accounts. Why getting a second job is important  While getting a second gig will leave you with less time for leisure, there are several reasons why it might make sense. 1. Protect yourself Despite all the advancements in worker rights over the last few decades, the fact is that most workers are highly replaceable. Unfortunately, this is going to get worse in the coming years, as employers move forward with automation.  At the same time, remote work is increasing competition, giving employers access to a wider global talent pool. Getting a second job is a way to protect yourself. By diversifying your income, you can still have a way to bring in money if your main source of income disappears.  2. Get ahead for retirement  Planning for retirement isn’t easy when you’re struggling to pay your bills and put food on the table.  By picking up a second job, you can put more money away for retirement and inch yourself closer to financial freedom.  Learn more: A Guide to Saving for Retirement Early Retirement Strategy Building Rental Income for Retirement 3. Live a

[ad_1] What’s holding you back from living out your calling or doing that thing you have always dreamed of doing? Could it be lies you are believing that are holding you back from facing your fears? Maybe you feel like that dream of yours is just too big or too out-of-reach or too impossible? If so, I think you’ll be really encouraged by this week’s episode of the Crystal Paine Show. I sit down and have a conversation with Paul Angone, husband, father of four, blogger, podcaster, and author of multiple books — including his newest book, 25 Lies Twentysomethings Need to Stop Believing. In this episode, not only do we talk about how lies can paralyze us, but we also dive deep into Paul’s story and he shares really honestly how he’s found the courage and the motivation to keep doing the next right thing, keep taking the next step — even when it felt like it wasn’t leading anywhere and he kept hitting dead ends. His perseverance and faith in what he shared (and has lived out!) really inspired me — and I think it will inspire you, too! Also, I love the wisdom he drops at the very end of the episode about awkwardness. You don’t want to miss it! In This Episode:  [01:19] Learn more about Paul and why he’s so passionate about dispelling lies.  [04:09] How did he choose the 25 lies in his book?  [05:33] Learn more about the story that he opens up the book with.  [07:57] What does he mean that we have to “war for hope”?  [11:26] His advice for the person who is looking to make that first step into change. [14:38] How did he get to where he is today?  [18:57] Learn more about how he’s battled his own lies.  [22:32] How do we help the next generation to skip the belief in the lies?  [26:04] The awkward moments are when the beauty in life happens. Links and Resources: Episode 120: How to Nix Your Negative Narrative (with Jon Acuff) 25 Lies Twentysomethings Need to Stop Believing by Paul Angone Paul’s Website Paul on LinkedIn  Paul on Twitter Paul on Facebook Paul’s Books 10 Days to Be a Happier Mom Sign up for the Hot Deals Email List MoneySavingMom.com My Instagram account (I’d love for you to follow me there! I usually hop on at least a few times per day and share behind-the-scenes photos and videos, my grocery store hauls, funny stories, or just anything I’m pondering or would like your advice or feedback on!) Have feedback on the show or suggestions for future episodes or topics? Send me an email: crystal@moneysavingmom.com How to Listen to The Crystal Paine Show The podcast is available on iTunes, Android, Stitcher, and Spotify. You can listen online through the direct player here. OR, a much easier way to listen is by subscribing to the podcast through a free podcast app on your phone. (Find instructions for how to subscribe to a podcast here.) Ready to dive in and listen? Hit the player above or search for “The Crystal Paine Show” on your favorite podcast app. [ad_2] Source link

[ad_1] Salvadoran woman freed from jail after 30-year abortion sentence [ad_2] Source link

[ad_1] The non-interest income grew 50% quarter-on-quarter (q-o-q) and 23% y-o-y to Rs 4,551 crore, mainly on account of recovery in the written-off accounts. Overall, the net profit for FY21 stood at Rs 2,906 crore, compared to a net loss of Rs 6,613 crore during FY20. [ad_2] Source link

[ad_1] Prince Harry & Meghan Markle Welcome New Baby Girl Lilibet Into the World I THR News  The Hollywood Reporter Queen ‘delighted’ after Harry and Meghan announce birth of baby girl  BBC News Meghan and Harry name baby girl after Queen Elizabeth and Princess Diana  CNN How Baby Lili’s Name Is Also a Nod to Meghan Markle’s Mom Doria Ragland  PEOPLE Meghan Markle may have named her daughter Lili as a subtle tribute to her mom  Insider View Full coverage on Google News [ad_2]

[ad_1] FHFA Director Mark Calabria and Fannie Mae CEO Hugh Frater (left to right) High-level departures from Fannie Mae show no signs of abating. Celeste Mellet Brown, Fannie Mae’s chief financial officer, is the latest executive to depart the government sponsored entity. Brown’s 2020 compensation, despite a strict salary cap imposed by the Federal Housing Finance Agency, was $2.3 million, making her the third-highest paid employee at the company. Some observers believe the string of executive walkouts is the result of a simple calculus: an experienced, talented executive can make far more money elsewhere. That’s certainly true in Mellet Brown’s case. At Evercore, where she will assume the role of chief financial officer by the end of the year, she will earn twice what she made at Fannie Mae. In addition to a $500,000 base salary and $3.75 million annual incentive bonus, Brown will receive $2.6 million in stocks over the next four years, according to a filing with the Securities and Exchange Commission. Her employment agreement even offers to make up for deferred compensation from Fannie Mae if it exceeds $600,000. Few could resist such a pay hike. (“They have families,” one former employee told HousingWire.) Fannie Mae is keenly aware of the risk of executive attrition due to its sub-par compensation levels. The limits, which cap base salaries at $600,000, place it “at a disadvantage compared to many other companies in attracting and retaining executives,” the company told investors in its most recent annual report. The filing goes on to note that if there were “several high-level departures at approximately the same time,” its ability to conduct business could be adversely affected. Several of the executives who recently left had spent decades at Fannie Mae.   A spokesperson for the company said that such changes are a natural part of corporate life and Fannie Mae is no exception. The spokesperson added that in addition to the strong executive leadership team at Fannie Mae, there is a strong bench to support them. This content is exclusively for HW+ members. Start an HW+ Membership now for less than $1 a day. Your HW+ Membership includes: Unlimited access to HW+ articles and analysis Exclusive access to the HW+ Slack community and virtual events HousingWire Magazine delivered to your home or office Become a member today Already a member? log in The post Behind the executive exodus at Fannie Mae appeared first on HousingWire. [ad_2] Source link

[ad_1] The post Mobile Banking App Dave Is Going Public via a SPAC Merger appeared first on Millennial Money. Fintech startup Dave announced on Monday that it will go public by merging with special purpose acquisition company (SPAC) VPC Impact Acquisition Holdings III (NYSE: VPCC) in a deal that values the company at $4 billion. SPACs have become a popular way for private fintech companies to go public, with SoFi Technologies (NASDAQ: SOFI) being among the more prominent deals in recent months.  Here’s what fintech investors need to know about Dave. What is Dave Dave has created a banking app that offers a variety of financial services to users from the palm of their hand, including interest-free paycheck advances and bank accounts without overdraft fees.  The company’s flagship feature, ExtraCash, was a way to allow users to avoid overdraft fees and Dave estimates that it has collectively helped its community avoid $1 billion in overdraft fees to date. The platform also capitalizes on the booming gig economy with a feature called Side Hustle that lets users find small side jobs to earn extra money. The feature Insights allows users to track their upcoming bills while sending notifications designed to prevent overspending. Dave believes that its feature set can address many common customer pain points associated with traditional banking services, allowing the company to grow a loyal user base. Dave currently has over 1.3 million members that pay $1 per month in membership fees. Dave Bank users are forecast to grow at a compound annual growth rate (CAGR) of 95% through 2023. “We believe the legacy financial system has failed to deliver and today, more than 150 million people need our help to build financial stability,” Dave CEO Jason Wilk commented in a release. “Dave is upending the banking industry with our suite of breakthrough financial products and making a meaningful impact on our customers’ lives.” The company is expanding beyond the core app and has launched Dave Bank, offering accounts with fewer fees and also allowing Dave to make money on interchange fees from debit cards. Average revenue per user (ARPU) in the first twelve months of a user joining the platform is approximately $43, but this monetization metric climbs to $95 for users to join Dave Bank. Revenue in 2020 was estimated at $122 million, with Dave forecasting sales growing to $533 million in 2023. Unique users are expected to grow to 11.4 million by the end of that year, according to Dave’s estimates.  The deal’s structure The merger with VPC Impact Acquisition Holdings III assigns Dave a post-money equity valuation of $4 billion. The SPAC has $254 million in cash in its trust, and the sponsor has lined up $210 million in PIPE (private investment in public equity) financing being led by Tiger Global. Other prominent institutional investors participating in the PIPE include Wellington Management and Corbin Capital Partners. After paying transaction fees, $389 million will go to the combined company’s balance sheet. Existing Dave shareholders will roll over their equity and own 87% of the combined company, with the SPAC shareholders having a 6% stake. PIPE investors will get 5% and the SPAC sponsor will take home 1% for putting the deal together. The deal is expected to close late in the third quarter or in the fourth quarter, at which point the ticker symbol will change to “DAVE.” Pick Like A Pro Where to invest $500 right now Before you buy Amazon, or Netflix, or Apple, consider this… The team at Motley Fool first recommended each of those stocks more than a dozen years ago! They discovered Netflix for $1.85 per share, back in the days of DVDs by mail. And recommended Amazon at $15.31 in 2002, before most people were comfortable using credit cards online. And even hit Apple at $4.97 per share, about a month before the release of the very first iPhone. Check out where those stocks are today. The bottom line: a $500 investment in all three of these stocks would be worth more than $200,000 today! And here’s why that’s important: The Motley Fool’s flagship investing service Stock Advisor just announced their top 10 “best buys now” across the entire stock market. Whether you’re starting with $100, $500, or more, you’ll want to get the full details! Click here to learn more The post Mobile Banking App Dave Is Going Public via a SPAC Merger appeared first on Millennial Money. [ad_2] Source link

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[ad_1] 4 Momentum Stocks to Buy in June [ad_2] Source link

[ad_1] TReDS was introduced in 2014 by the central bank and later in 2017, three platforms including M1Xchange promoted by Mynd Solutions, Invoicemart (joint venture of Axis Bank and mjunction services), and RXIL (joint venture between SIDBI and NSE) were issued licenses to operate on TReDS mechanism [ad_2] Source link