Business

Braidwood Capital Review: Not The Right Way To Manage Money During The Coronavirus

Published

4 years ago

August 15, 2020

Braidwood Capital has begun flooding the market with debt consolidation and credit card relief in the mail. The problem is that the terms and conditions are at the very least confusing, and possibly even suspect. The interest rates are so low that you would have to have near-perfect credit to be approved for one of their offers. Best 2020 Reviews, the personal finance review site, has been following Braidwood Capital, Tiffany Funding, Nickel Advisors, Coral Funding, Neon Funding, Ladder Advisors (also known as Carina Advisors, Corey Advisors, Pennon Partners, Jayhawk Advisors, Clay Advisors, Colony Associates, and Pine Advisors, etc.).

Several Americans have been affected by the ongoing pandemic that’s left them in a state of weakened financial health and financial devastation. The number of people losing their jobs and filing for unemployment is increasing with each passing day.

However, there are still plenty of employees that haven’t experienced the turmoil of a financial crisis. According to a recent survey conducted in the second week of April, almost a quarter of the working-class admitted that their financial circumstances hadn’t been impacted heavily by the coronavirus pandemic.

But that number is still not high enough as companies continue to lay off employees every day. The pandemic has forced many organizations to make salary cuts and hinder 401(k) match programs that have impacted the financial stability of the working class.

The citizens that continue to be employed are faced with an increased need to understand and manage their financial matters as the situation continues to be uncertain, and there’s no promise of employment security. This looming threat of financial uncertainty should push you to make smarter financial decisions and prepare for the upcoming uncertain times.

If you’re one of those lucky people who have managed to retain their jobs, then the responsibility of keeping your financial situation stable falls upon you even more. This time of social distancing and limited movement needs to be turned into your favor to eliminate the risk of a possible financial struggle and even help you improve your overall financial standing.

If you’re wondering how to turn this situation into your best interest, then we have some essential tips for you to accelerate your debt elimination process, increase your savings, and redesign your budget while you continue to work from home. Let’s get straight to it.

Shift from spending to saving

Staying at home has its benefits, especially financial. You cut a lot of costs on gas and commute. The absence of social commitments and outdoor activities saves up hundreds of dollars in your budget. The habit of eating out has changed to having homemade meals, which is a much cheaper alternative.

If the amount you’re saving isn’t going in helping others, it most definitely should make its way into your emergency funds. Ideally, you should have enough savings to cover your living cost for the next four to six months. However, that might not be possible for everyone to manage, so you should at least start saving up for the upcoming month and then build upon it from there.

If you’re fortunate enough to already have a substantial emergency fund, then the money saved from the lack of social interactions should go into paying off your debts and strengthening your retirement plans. Let’s discuss them below in further detail.

Prioritize paying off your student loans

In light of the ongoing coronavirus pandemic, most federal student loans have suspended payments and made them entirely interest-free until the end of September 2020. This was a very welcome decision and can play an especially favorable role in your situation.

If you start catching up on your student loan at this time, it would mean that you’ll be directly reducing the principal on your entire student loan. This has the potential to save you thousands of dollars in the longer run.

However, paying off your student loans shouldn’t take precedence in priorities if your savings are needs to meet other urgent situations. For example, if you also have a credit card loan to your name, then using your savings to pay off debt with higher-interest rates first.

Bulking up your emergency fund should also be higher on the list of your priorities if you aren’t covered for the upcoming months.

Moreover, if you’re already on a public service loan forgiveness program or any other program of the sort, then expediting your payments may not work in your best interest in the long run.

Boost your 401(k) contributions

In the ideal case of having a substantial emergency fund and a comfortably manageable debt, you should divert your attention towards boosting up your retirement savings.

You can make contributions to your 401(k) or 403(b) retirement plans by purchasing shares at discounted prices offered in these months compared to peak months like February. Planning a boost for your retirement plans this year gives you the opportunity to it at reduced prices and increased returns when the situation goes back to normal.

Lower your mortgage rate

If you’re a homeowner on a mortgage, this might be a good time to refinance your mortgage. The interest rates on mortgages have been lowered due to the pandemic, which can help you lower your housing costs.

The benefit also implies to new homeowners because mortgage rates are down by at least 1% compared to last year, and it makes a significant difference in the long run. However, with lowered interest-rates, more and more people will apply for refinancing, which could make it harder to qualify for it than before.

Help your community in crisis

Although helping your community financially doesn’t really add practical value to your standing, it can immensely help people in desperate need of it. If you use your stable financial standing to support small businesses, donating to local food banks, and helping the most vulnerable in your community, it will be an excellent way to give back to your community.

Spending money to help others reflect your moral values and will comfort someone in dire need in these times of uncertainty.

Conclusion

You’re indeed fortunate if you haven’t been that affected by the pandemic’s devastations, and that puts you in a higher position of responsibility towards improving your financial standing and helping those in need.

Business

Michella Filipowitz: Shaping a Future of Inclusion for Children with Disabilities

Published

1 hour ago

September 15, 2024

Rosario Farell

Michella Filipowitz, a prominent model, business leader, and philanthropist, has dedicated her life to advocating for children with disabilities. Her personal story, shaped by her experiences as the mother of a child with autism, has driven her passion to build a more inclusive world where differences are not just accepted but celebrated.

Michella’s journey took a transformative turn when she became a single mother at the age of 23. Shortly after, her son, Benjamin, was diagnosed with autism at the age of three. “It was an unexpected and overwhelming moment,” Michella recalls. “No one in my family had dealt with anything like this before, but with my mother’s guidance, I was able to see Benjamin’s diagnosis not as a burden, but as a new way of understanding the world.”

Benjamin’s condition is categorized as a hidden disability. Though it’s not always obvious to others, his challenges—such as delayed speech—affect his everyday experiences. “It was difficult to watch him struggle while other kids seemed to develop so naturally,” Michella shares. “It made me realize how often children with disabilities are left out or misunderstood.”

This realization sparked a new mission for Michella: to create a world where children like Benjamin are given the same opportunities as their peers. “I knew I had to be part of the solution,” she says. “Our differences are what make us unique, and we should be embracing that, not hiding from it.”

Michella is also keenly aware of how quickly people judge others based on outward appearances. “We live in a time where everything is so public and visible, but that doesn’t mean we know the whole story,” she explains. “It’s important to have empathy and not make assumptions.”

Her advocacy work has centered on changing how schools and communities treat children with disabilities. Too often, children like Benjamin are segregated in special schools, which can further isolate them. Michella believes this approach is flawed. “Children with disabilities need to learn alongside their peers,” she says. “Only then can they grow up understanding that differences are normal, not something to be avoided.”

Her vision is clear: an education system where children of all abilities are taught together, learning to respect one another from an early age. “If we can instill the values of acceptance and understanding in kids while they’re young, we’ll build a much more inclusive society,” she says.

Michella’s commitment to helping families of children with disabilities goes beyond advocacy. She co-founded the DR Family Foundation with her fiancé to provide critical support to families who are struggling with the high costs of therapies, treatments, and education. “As a single mother, I know firsthand how overwhelming it can be,” she explains. “That’s why I wanted to help other families get the resources they need.”

The DR Family Foundation has already made a significant difference, helping families cover school expenses and other essential costs. The foundation’s next big initiative is creating a home for children from difficult backgrounds, offering them a safe and nurturing space where they can thrive. “It’s not just about providing shelter,” Michella says. “It’s about building a community where these children feel loved and supported.”

Reflecting on her journey with Benjamin, Michella speaks with gratitude. “He’s shown me that what others might see as a challenge is actually his strength,” she says. “His resilience and uniqueness are what make him so special, and I want to make sure other children have the opportunity to shine in their own way.”

Through her work, Michella envisions a world where children with disabilities are fully included in every aspect of life. She hopes that by advocating for inclusion and providing support through the DR Family Foundation, she can help create a brighter future for these children. “I want parents to know that they’re not alone,” she says. “With the right support, we can give our children the chance to live fulfilling, happy lives.”

Stay connected with Michella Filipowitz and her mission to create a more inclusive society for children with disabilities by following her on Instagram @princessmichella.