Category: Brandpoint Business & Finance

2021-02-12T23:01:00

(BPT) – Deb Mallin, Forbes Councils Member

Forbes Nonprofit Council

Founder of LiteracyMatters.org, a foundation on a mission to close the literacy gap with scalable, ethical technology & evidence-based instruction.

As 2020 came to a close, were you looking at the glass half full, or depending on the day, half empty after almost a year of surviving the pandemic? In 2021, millions of American families will continue to struggle to put food on the table, while others will have children set up, sitting up, and eager to join virtual classmates and teachers, in Zoom classrooms across this nation. If they have access to the internet and equity in education — that’s a big, powerful word — if. And if not now, when?

When the vaccine makes its way across the country and schools hopefully reopen, there is a question we will have to address as a nation: What becomes of the preexisting condition and national crisis of illiteracy that continues to destroy the future of our nation’s children? How many children have fallen even further behind this year because we did not innovate to educate, reach and teach all children how and where they learn?

According to research from Gallup and the Barbara Bush Foundation for Family Literacy, low adult literacy rates could be costing the U.S. economy $2.2 trillion in GDP. The research found that roughly 130 million adults in the U.S. are “reading below the equivalent of a sixth grade level.” Reading levels in grade school-aged children have been stagnating and even dropping off. In 2019, national average reading scores for fourth and eighth graders were slightly below average reading scores in 2017.

Whether we look at the data on our failing education systems as a travesty of justice or from the lens of an economist astounded by the loss of human capital, there are questions we should be asking. If the definition of insanity is doing the same thing over and over and expecting a different outcome, we should apply this principle to our education efforts.

Why haven’t today’s classrooms changed much in the way they look and operate over the past several decades? Why, in 2020, in this rapidly advancing, digital age of technology and machine learning and AI, are we still teaching children as though they rode to school in a horse-drawn buggy? We scaled Braille across this nation in 1918, during the time of the candlestick phone and the 1918 flu pandemic. Why can’t we provide the fundamental skills of literacy, a sound-to-symbol and symbol-to-sound system that teaches the English language?

Who benefits when children are unable to move from learning to read to reading to learn? Access to evidence-based, whole child-centered learning is not a pie. We don’t need to ration piece by piece when we have the ability to democratize education. There is more than enough pie for everyone. We all do better when we all do better.

As nonprofit leaders, we have the immense responsibility to redefine and rethink how we approach our education initiatives. I challenge you as leaders to rethink how we provide sustainable systems change, starting with acknowledging that our efforts are dramatically diminished if we continue to work in silos. Collaboration, partnerships and coalitions offer us opportunities to strengthen our impact by harnessing the power and resources our fellow nonprofits have to offer.

As leaders in the education space, let’s commit to supporting the best of both proven and innovative ways of approaching this generation’s national epidemic of illiteracy. I believe we can deconstruct the problem and mobilize an all-American effort to provide equity in education, with teachers properly trained in the science of literacy instruction, scalable individualized curriculum and the use of ethical technology that makes it all possible.

Another crucial element to our efforts is to educate ourselves on political candidates, state budget proposals and public-private partnerships that commit to targeted and accountable literacy education initiatives. We are the players who can evoke real change and advocate for greater education in-roads. The ROI isn’t just for the children we’ll teach. It’s exponentially significant to the donors who invest in our nonprofits — and for society as a whole.

As a nation, we can accept the hierarchy of responsibility and work together to make 2021 be the year we apply the lessons learned from the pandemic and scale literacy and justice for all.

2021-02-09T06:01:00

(BPT) – The past year has presented countless challenges, and for many, a reassessment of goals — especially when it comes to finances. A new survey shows attitude shifts including a renewed effort to gain control of finances, especially through increased saving and getting professional advice.

Even Americans who did not lose work lost a sense of confidence in the economy. The survey by Harris Poll for Empower Retirement and Personal Capital reveals a change in attitudes about finances from April — as the pandemic’s effects were beginning — to December of 2020. Despite the stock market rallying after the initial lockdowns, only 22% of survey respondents from December said they felt optimistic about their finances, as compared with 29% from the April survey.

With the turmoil of the last year, 2/3 of respondents said they were bracing for financial pain in the event of future lockdowns, with 44% concerned about losing money on investments. Reacting to uncontrollable world events, one theme emerged: People want to feel more in control of their own finances, whatever comes next.

These tips can help you feel more confident financially, no matter your circumstances.

1. Save what you can

There’s no better buffer against unexpected emergencies — anything from car breakdowns to job loss — than an emergency fund. Financial professionals recommend saving at least three to six months of expenses to be prepared for emergencies.

Sound daunting? Start small, and consider setting up automatic deposits into a savings account with each paycheck, to save without thinking about it. Even a few dollars per pay period can add up over time.

2. Invest in your family’s future

According to the survey, parents are concerned about the pandemic’s impact on their children’s education, but many believe the crisis will lead to a fundamental shift in higher education. Nearly 6 out of 10 (59%) expect student loan debt forgiveness to become more common, and half believe the pandemic will make higher education more accessible in the long term.

If your children are college bound, have a conversation with a financial professional or your child’s high school guidance counselor about how financial aid works and what strategies may benefit your family. If you have young children, look into a 529 college savings plan in your state, which can provide both tax and financial benefits.

3. Don’t forget retirement

Whether you’re approaching retirement age soon or it’s years away, consider taking full advantage of your employer’s matching funds for your 401(k) contributions. Ask your HR department about how to fully utilize all your available employer retirement benefits, and increase your retirement savings percentage now if you can. Your future self will thank you.

4. Consider your HSA account as part of your retirement strategy

If your company offers a health savings account (HSA), remember that any unused funds can be saved up to be used during your retirement — adding to your future financial stability. When you do need your HSA for medical expenses, check with your employer to see how it can best be used. An HSA can help pay for qualified medical expenses including prescriptions, medical tests and treatments, including many vision and dental expenses.

5. Consult a professional

Given the turmoil of 2020, Americans are focusing on fundamentals: cutting spending, increasing savings and safeguarding investments. Over half the survey respondents sought financial guidance related to the election. As uncertainly continues, an increasing number are seeking professional help to make financial decisions and plans.

“A good financial professional can provide not just advice on saving and investing, but financial wellness recommendations on everything from building a budget and starting an emergency fund to managing debt,” said Edmund Murphy, president and CEO of Empower Retirement.

A financial professional can help you set priorities and find the best vehicles for protecting and growing your money. Ask your employer if your retirement plan provider offers financial advice through virtual sessions or phone calls with a professional. You may also be able to access digital tools that help you calculate how close you are to your retirement goals, along with ways to monitor your investments.

For more tips about financial planning, visit Empower-retirement.com/empower-insights.

2021-02-05T11:07:00

(BPT) – Restaurants are the cornerstone of American communities, and they need support more than ever. In the face of systemic barriers to success, there’s even more urgency to support local Black-owned restaurants — to celebrate and sustain their vibrant flavors. The diverse range of tasty menus, rich history and culture found in Black-owned restaurants contribute not just to their communities, but to the variety and richness of the entire American experience.

Companies are pledging support, and a few like Pepsi with its new Dig In platform, are leading the way making multi-year, multi-million dollar commitments that promote long-term success.

“Disparities have only grown during the pandemic, with Black-owned businesses shuttering at higher rates,” said Scott Finlow, chief marketing officer, PepsiCo Global Foodservice. “When doors close, we all miss out on an opportunity to discover something new. We’re inviting people to ‘Dig In’ because their next meal has the power to help create a positive effect in the community.”

If you love discovering new dishes and want to aid restaurants that connect and build their communities, here are simple things you can do.

1. Use discovery apps to find Black-owned restaurants

The popular foodie app EatOkra makes it easy to search an incredible roster of over 5,700 Black-owned eateries, so you can find options near you. Use the app’s check in and restaurant rating options to share the experience with friends too.

Consider uploading your receipt to MyBlackReceipt, the nation’s first buy Black campaign focused on quantifying the impact of supporting Black-owned businesses. To date, over $7 million in receipts have been uploaded.

2. Don’t forget delivery

Order meals in via your local restaurant, favorite delivery apps or Black and Mobile, the first Black-owned delivery app in the country which exclusively delivers for Black-owned restaurants in select cities. It partners with underrepresented businesses in urban communities that are often overlooked, providing them with the delivery technology needed to expand their customer base.

3. Tap into food celebrations from home

Restaurant week and virtual supper club events are a great opportunity to sample cultural fare from prix fixe menus while championing Black culinary tastemakers in your city. The list of participating eateries can sometimes be in the hundreds but take the opportunity to boost participating Black-owned restaurants serving up African American, African and Caribbean cuisine.

4. Follow expert foodies and influencers

Keep up on the latest culinary trends and chefs by following relevant social media accounts and hashtags like #Blackowned. Social media influencers and award-winning writers and cookbook authors like Osayi Endolyn (@osayiendolyn) are chronicling what’s exciting, new and next.

5. Share information on resources

According to the Federal Reserve, many Black-owned businesses have a harder time getting loans than any other group. Spread the word in your community and let your favorite neighborhood restaurateurs know about available resources.

For example, Pepsi’s Dig In platform provides grants, mentorship, training and business support to Black restaurateurs, including help building and optimizing online ordering and delivery capabilities. The program aims to generate at least $100 million in sales for Black-owned restaurants over the next five years.

For more information on resources for owners or to locate craveable meals in your area, follow @PepsiDigIn on Facebook, Instagram or Twitter.

2021-02-03T14:01:00

(BPT) – For individuals living with blood cancer, stem cell transplantation can offer a potential cure. Over the last decade, survival rates for patients who receive such transplants have been improving. However, for a small group of these patients, an allogenic stem cell transplantation may result in another disease called graft-vs-host disease (GVHD), a potentially fatal complication that can appear after stem cell transplantation.

GVHD, which can be an acute or chronic condition, marks the start of an unexpected journey for these patients and their caregivers. It is with this in mind that Incyte launched the Incyte Ingenuity Award, which funds innovative initiatives to address the unique needs of the US GVHD community.

The inaugural recipient of the Incyte Ingenuity Award is Dr Areej El-Jawahri, on behalf of Massachusetts General Cancer Center (MGCC). Dr El-Jawahri is an oncologist specializing in the care of patients undergoing hematopoietic stem cell transplantation at MGCC, and director of the Bone Marrow Transplant Survivorship Program. Through her time as a practicing oncologist, Dr El-Jawahri has witnessed firsthand the challenging journey that patients often endure after being diagnosed with GVHD. Fueled by her passion for cancer research and care, and an in-depth understanding of GVHD, she saw an opportunity to create meaningful change and to support GVHD patients on a more holistic level through the Incyte Ingenuity Award.

Her winning proposal for the Incyte Ingenuity Award – The Horizon Mobile App – will help Dr El-Jawahri and her team further advocate for chronic GVHD patients and provide support beyond the walls of MGCC through a patient-centered, multicomponent mobile app that comprehensively address the specific needs of these patients. Over time, this app will teach patients the skills to identify and address symptoms and enrich self-management, all while sharing appropriate resources.

Dr El-Jawahri breaks down GVHD, the patient journey and how the Horizon Mobile App seeks to improve the patient and caregiver experience:

What is GVHD and how does it occur?

GVHD is a potentially fatal medical complication that can appear in a patient who has recently received a transplant from another person. It is most commonly triggered by bone marrow transplants, but it can also occur with solid organ transplants as well. The disease occurs when white blood cells that remain in the transplanted tissue begin to identify the host body as a foreign intruder and begin to attack the host’s cells. Many recipients of transplanted tissue have weakened immune systems, which means that their own bodies are often incapable of preventing the attack from beginning.

Symptoms of GVHD depend on the type (acute or chronic) and may include skin rashes, gastrointestinal, liver, and lung damage. Over time, the disease may spread to other areas of the body, such as the immune system, exocrine glands, and connective tissue. There are several treatments available for GVHD, including immunosuppressants, like steroids, and other targeted therapies.

Can you provide an overview of the award-winning Horizon Mobile App project? How does it seek to support the GVHD community?

Through our day-to-day work at MGCC, we recognize the great emotional and physical challenges that chronic GVHD patients face. Many of these patients do not live near a transplant center and therefore struggle to receive support. Also, it’s very hard for oncologists and primary care providers (PCPs) to recognize GVHD symptoms, and unfortunately, it can be even harder to empathize with and fully understand the journey of individuals with GVHD.

We proposed the creation of a patient-centered, multi-component mobile intervention app that addresses the quality of life and care of patients with chronic GVHD. This app, named the Horizon Mobile App, includes an educational game, which will allow a patient character to navigate through a journey as the patient character copes with the condition and monitors progress. The app also aims to provide chronic GVHD patients with strategies for self-management, including understanding when to contact their transplant center for more specialized care.

We also want to make patients aware of all resources that they have at their disposal. Our daily work at MGCC has taught us the importance of patient advocacy and empathetic, emotional support. With this in mind, the app helps connect new patients with the GVHD community to lean on those who truly understand what they are going through. Social support is important because patients are rarely able to return to normal soon after receiving a transplant. Lastly, the app will focus on addressing fatigue and will promote holistic wellbeing through the creation of healthy habits, and a comprehensive self-care plan.

What does receiving the inaugural Incyte Ingenuity Award mean to you and your team?

I speak for all of MGCC when I say that we are immensely proud to be the first recipient of the Incyte Ingenuity Award as our program was created to truly support those living with chronic GVHD. We are also pleased that Incyte recognizes the need to develop a patient-centered approach to caring for people with GVHD, and is helping creative solutions like ours get the support they need to move from an idea into actual execution. When you’re caring for someone with GVHD, you’re tasked with addressing not only their medical needs, but also their emotional needs—which often can be difficult to assess and quantify. We believe the Horizon Mobile App will help us provide more holistic care to our patients moving forward.

I’m grateful my team decided to apply for the Incyte Ingenuity Award, because it motivated us to come together to develop a novel and creative solution that addresses all aspects of GVHD patient care.

To learn more about this award-winning project, please visit https://www.incyteingenuityawards.com/recipients.

Sponsored by Incyte Corporation. MAT-INC-00989 01/21

2021-02-03T09:23:00

(BPT) – If, like so many others, you lost your job in 2020 and decided to turn your hobby into a money-making venture, congratulations! That’s what we call resilience. But did you know, you don’t need a brick-and-mortar store or even employees to be considered a small business by the IRS? If you’re self-employed as a sole proprietor or single-member LLC, you’ll likely need to report your income and expenses on the IRS Schedule C tax form, included with your personal income tax return this year.

“At one point in 2020, and any other year for that matter, someone’s hobby could have turned into a business,” said Ian Hardman, general manager and vice president of small business at H&R Block. “Maybe they haven’t registered their company name or rented a location to conduct business outside of their home. But, having an official name or separate location isn’t a litmus test for whether or not a business exists — the intent to make money is.”

If you made money from your business last year, you must pay taxes on that income on the 1040 tax form. And you will likely need to include a Schedule C to report your income and expenses and figure your net self-employment income. If you didn’t keep accurate records last year, now’s the time to reconcile everything so you’re not caught off-guard when April 15 rolls around. The penalties for not filing accurately can be serious and costly. In other words: Accurate tax filing will keep you out of trouble with the IRS.

The information Schedule C collects includes basic bookkeeping information, such as gross receipts/sales, cost of goods sold and business expenses. Without Schedule C, small business owners can’t deduct eligible business expenses, including supplies, advertising and vehicle costs. Schedule SE, which is the Self-Employment Tax form, must also be filed if net earnings exceeded $400; however, there is no minimum income requirement for filing Schedule C. The good news is that one-half of your self-employment tax is taken as an adjustment to income (aka above-the-line deduction) on your Form 1040.

“It’s important for self-employed individuals to see themselves as small businesses. Getting professional guidance about how to handle small business taxes instead of relying on gut instinct or assuming their situation is like a friend’s could help self-employed small business owners avoid costly mistakes,” Hardman said.

Help is available year-round, in-person and online

For good reason, many new and longtime small business owners who aren’t numbers experts have concerns about how to approach their 2020 tax returns. By working with Block Advisors, they can address this annual chore with confidence; with an average of 12 years of experience and focus on small business taxes, Block Advisors small business certified tax pros can meet the needs and expectations of self-employed small business clients.

Also, help from Block Advisors is available year-round, not just at tax time. And they can help with other small business financial tasks, including bookkeeping and payroll. Block Advisors will help you come up with a plan so you can get back to what you love. And when things change — and they always do — plans can be reviewed and revised at quarterly care checks or as the need arises. Clients can meet with their Block Advisors tax pros in person, virtually, via phone, chat or secure messaging.

To start working with the experts at Block Advisors on self-employed and small business tax returns, visit blockadvisors.com.

2021-02-01T17:27:00

(BPT) – Robinhood was built for a new generation of investors. For millions of people who have felt left behind by America’s financial system. For people who felt turned away by the big Wall Street financial institutions. For those who are making their voices heard through the markets and showing the world that investing is for everyone.

Robinhood was founded to help more people build wealth — not just the 1%. Before Robinhood, investing required expensive commissions to place trades, making it impractical for people with smaller balances to participate. In addition, many were unable to satisfy minimum account balance requirements, or were otherwise uncomfortable walking into a financial institution to complete paperwork or answer jargon-filled questions they did not understand.

Robinhood pioneered commission-free trading with no account minimums. They built a modern financial services platform to serve everyone, regardless of their wealth, income or background. Because Robinhood believes that everyone should be welcome to participate in our financial system.

In late January, we witnessed something the stock market has never quite experienced before. Short squeezes on a small number of stocks triggered wild gyrations in prices, massive volatility that prompted clearinghouses to take swift action to protect the plumbing that handles stock trading every day.

In a matter of days, Robinhood’s clearinghouse-mandated deposit requirements related to stocks increased tenfold. These deposits are the collateral they post to ensure their access to clearinghouse services on behalf of their customers. They are what led Robinhood to put temporary buying restrictions in place on a small number of securities that the clearinghouses had raised their deposit requirements on. It was not because they wanted to stop people from buying these or any stocks — Robinhood was built to provide access to investing for all. And it certainly wasn’t because they were trying to help hedge funds.

It was a week that Wall Street and Main Street won’t soon forget. It is possible the unusual and dramatic market swings could occur again. Robinhood is committed to being a responsible partner and being there for its customers through any trading environment — and communicating about the rules their industry faces and how they’re living up to them so they can be here for customers for decades to come.

The world is witnessing a massive transformation taking place across financial markets, driven by the intersection of technology, democracy and finance, and one that is ushering in an entirely new era of financial participation and market dynamics. With a new generation of investors at the helm, the future looks a little brighter.

Robinhood Financial LLC is a registered broker dealer (member SIPC). Robinhood Securities, LLC provides brokerage clearing services (member SIPC). Robinhood Crypto, LLC provides crypto currency trading. All are subsidiaries of Robinhood Markets, Inc. (‘Robinhood’).

All investments involve risk, including the possible loss of capital. Commission-free trading means $0 commission trades placed on self-directed accounts via mobile devices or web. Keep in mind, other fees may still apply. Please see Robinhood Financial Fee Schedule at rbnhd.co/fees to learn more.

2021-01-19T20:05:00

(BPT) – The next big thing in the quest for customer loyalty isn’t new, and it isn’t fancy. But it definitely does not come in the mail. The traditional rebate is being replaced by digital or virtual rebates — which are an effective way for companies to attract consumers, enhance the customer experience and build brand loyalty.

A recent Consumer Incentives survey by North Lane found that over 91% of consumers were open to using virtual rebates, and 79% would choose a digital rebate over a traditional mail-in rebate. Virtual rebates were perceived as easier to use, and 41% preferred them because they are greener than mail-in rebates. Approximately 84% of respondents said the option to receive a digital rebate improved their opinion of a brand.

And it’s no wonder consumers prefer the digital option — shoppers aged 18 to 44 said their top frustrations with traditional rebates were the long wait time to receive rebates and the complicated steps to redeem them. In contrast, virtual rebates are faster and simpler.

The evolution of the rebate

Ranging in value from a few dollars to several thousand dollars, rebates have been offered by a wide variety of manufacturers in recent years.

According to Inc.com, they evolved in some degree from the discount coupon. But instead of offering savings with a reduced price at point-of-sale, rebates require shoppers to complete additional steps to get cash back. These include completing a form, providing proof of purchase such as a receipt, and then mailing these items by an expiration date to receive the rebate check in the mail — eventually.

While rebates entice shoppers to buy a particular product with the hope of getting cash back, many shoppers actually fail to complete the process. As a sales tactic to drive primary purchases, rebates often succeed. The North Lane survey found that 60% of respondents had switched from a favorite brand because a different brand offered a rebate. But in some cases, companies that miscalculate consumer interest or follow-through on rebates can end up losing revenue or miss out on opportunities to cement brand loyalty and drive secondary purchases.

This is especially true if, from the customer’s vantage point, the rebate process does not seem worth the trouble. And after a negative rebate experience, over half (53%) of customers would not or would be unlikely to shop with that brand again. These days, virtual rebates fix most or all of the pain points that prompt consumers to label a rebate experience as negative. So, they’re a win for both brands and their customers.

The digital revolution

In today’s marketplace, expectations for smoother, digitally enabled experiences have grown. Consumers have not only gone digital for tasks like shopping and banking, but they also expect seamless experiences at all brand touchpoints.

Virtual rebates eliminate frictions like delivery issues, long waits for payment and difficulty spending the rebate. Today’s virtual rebates are digital open-loop cards received by email, SMS or in app. They can be spent online, via mobile or in person using the customer’s mobile wallet, offering unparalleled choice.

Much easier to manage than traditional mail-in rebates, digital rebates are viewed more like cash equivalents. Read: higher value. They also drive both primary purchases and spendback. In fact, 90% of the survey respondents said they were likely or somewhat likely to spend their virtual rebate with the same brand they got it from.

A growing opportunity

Delivering a frictionless rebate experience helps boost brand loyalty and advocacy among consumers — both valuable commodities in today’s influencer-driven market.

Despite the report’s findings that consumers are overwhelmingly interested in digital rebates, only 27% reported having received an offer for one. This suggests that many businesses are not yet on the virtual rebate bandwagon. By expanding their rebate offerings to accommodate the preference for virtual, brands could see larger gains from their incentive programs.

Offering digital rebates to consumers also allows businesses to learn more about the customer journey. Using data from virtual rebate redemption, companies can track repeat customers and learn how their rebate programs builds loyalty over time. And according to a recent article in McKinsey Quarterly, businesses wanting to stay competitive need to move as quickly in the digital space as their customers do.

“As the world changes, the way consumers shop and use rebates continues to shift to digital. We know brands are placing priority on providing customers with simple, engaging digital experiences,” said Seth Brennan, CEO of North Lane. “Virtual rebates are highly effective at providing an enhanced customer experience and incentive, driving purchases, increased engagement, and ultimately, brand loyalty.”

To learn more about digital incentives and other options for your business, visit NorthLane.com.

2021-01-15T16:06:17

(BPT) – Finances are consistently a top concern for many Americans, with “saving money” a top-10 most common New Year’s resolution. This year, Americans are more concerned than ever before due to the uncertainty created by the COVID-19 pandemic.

USE Credit Union reported that more than 75% of non-transactional calls received since the start of the pandemic were from members concerned about their financial future, citing economic hardship as the primary reason for concern. The economy and job market remain in a state of constant flux, which is causing many families to worry about their ability to pay an unexpected bill, continue to pay off student loans, mortgages or credit card debt, or save money for the future.

“Saving money is more than just putting spare change into a coffee can, or simply ordering takeout less often,” said Jeff Schroeder, vice president and chief product officer at Mercury Insurance. “Sure, those things can add up over time, but people may find that their greatest savings can come from taking a look at the necessary expenses they pay for every month, such as insurance.”

Schroeder recommends these four tips to help protect your finances in the coming year:

1) Check your auto insurance coverages. There’s no reason to pay for more coverage than you need, but being underinsured can leave you exposed. “The cost of repairs after a collision has grown in recent years, as a result of more crossovers and SUVs on the road, and more technologically advanced vehicles,” said Schroeder. “Beyond paying for more expensive repairs if your insurance doesn’t cover it, if you’re underinsured, you may also be responsible for paying out of pocket for medical bills, which could potentially devastate savings for a down payment on a house, your child’s college tuition or a future vacation. It’s vitally important to make sure you have the right amount of auto insurance coverage to protect against unforeseen events.”

2) Know what your homeowners insurance covers. First and foremost, be sure to read your policy so you’re clear about what it does and doesn’t cover. It’s a good idea to check in with your insurance agent each year to ensure you have adequate coverage, especially if you’ve made renovations, own collectible or valuable items, or live in an area that’s prone to flooding or earthquakes, as standard homeowners insurance policies typically don’t cover these situations. Also, maintain a home inventory to make sure to have an accurate record of your belongings and property.

3) Be aware of potential gaps in coverage. A standard homeowners insurance policy often doesn’t cover mechanical failures to your home’s appliances, HVAC or other essential systems, nor does it cover a break to service lines on your property that supply your home with electricity, gas or sewer functions. In either of these scenarios, this means you would be responsible for writing a big check to a repair company or having to purchase a pricy replacement. However, adding home systems protection and service line protection endorsements can help provide coverage for costly repairs and replacements, saving money and your peace of mind. Pennies spent now can save you thousands of dollars later.

4) Regularly shop for the best coverage and price. Insurance prices can vary significantly from company to company, so it’s a good idea to take a few minutes to see if you’re getting a good deal. Shop around at least once a year — making sure to look for the exact same coverage limits — to see if you can find a more affordable rate.

“Often, regional insurers like Mercury Insurance are more attuned to their policyholders’ needs and can offer better rates,” Schroeder added.

The most effective way to make sure your finances are minimally impacted by insurance costs this year is to speak to an independent insurance agent. They can help make sure you have the proper amount and type of coverage to keep yourself, your family and property protected.

2021-01-14T12:55:00

(BPT) – With the enactment of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021, millions of eligible individuals will receive a second Economic Impact Payment (EIP). The Bureau of the Fiscal Service (Fiscal Service) is distributing these payments on behalf of the Internal Revenue Service (IRS). To speed delivery of payments, some individuals will receive their payment in the form of an EIP Card, which is a safe, convenient and secure prepaid debit card. EIP Cards were mailed beginning the week of Jan. 4, 2021.

Individuals receiving a second round of stimulus payments through an EIP Card will receive a new card. Funds will not be loaded onto previously issued EIP Cards. Some people who received a paper check last time will receive a debit card this time, and some people who received a debit card last time will receive a paper check. EIP Cards are sponsored by the U.S. Department of the Treasury’s Bureau of Fiscal Service, managed by Money Network Financial, LLC, and issued by MetaBank^®, N.A.

What Economic Impact Payment Cards look like and how they work

These prepaid Visa debit cards are sent in a white envelope that prominently displays the U.S. Department of the Treasury seal and enable individuals to directly access their EIP. EIP Cards can be used anywhere Visa is accepted.

EIP Cards offer an easy-to-use way for Americans to receive and access government and emergency relief benefits. These prepaid cards look and work like traditional debit cards.

Using an EIP Card is quick, easy and secure. It can be used to:

• Pay for purchases online, in-person or over the phone everywhere Visa is accepted
• Pay many bills and get cash back at participating merchants
• Withdraw cash from an ATM or a bank/credit union teller
• Transfer funds to a personal bank account

How to get started

The first step when you receive your EIP Card is to activate it by calling at 1-800-240-8100 or online at EIPCard.com.

During activation, you will be asked to input your card number, the last 6 digits of your Social Security number and the 3-digit security code from the back of your EIP Card. You could be asked to further validate your identity by providing, at minimum, your name and address, or answering identity verification questions. You will also be asked to create a 4-digit PIN required for ATM transactions, automated telephone assistance and to obtain your EIP Card balance. For your account security, do not use personal information as your PIN. For EIP Cards with more than one name listed, only the primary cardholder (listed first on the EIP Card) may activate the card.

Keep your PIN number handy for automated telephone assistance and secure future transactions. For example, when withdrawing cash from an ATM, enter your 4-digit PIN and select “Withdraw” from “Checking”. ATM withdrawals can be made surcharge-free at any ATM that carries the AllPoint^® brand.

Discarded or destroyed cards

If your EIP Card is accidently discarded or destroyed, you can call the Customer Service number at 1-800-240-8100 and report it “Lost/Stolen.” Your EIP Card will be deactivated to prevent anyone from using it and a new replacement card will be ordered. You do not need to know your card number and your reissued EIP card is free. Review the Fee Schedule and Cardholder Agreement at EIPCard.com for more information.

Protect yourself

It is important to know that the IRS, MetaBank^®, N.A., Money Network and Visa do not contact cardholders directly requesting their personal account information. That said, cybercriminals and fraudsters are constantly counting on individuals to be distracted and let their guard down. If successful, they can trick people into handing over personal or financial information using a tactic known as phishing.

Here are some common forms of phishing that one may encounter and warning signs to look out for:

Phone Call Phishing

• Consumers should look out for a phone call from “your credit card company” or “financial institution.” The caller will typically identify themselves as someone who works in the “Security and Fraud Department.”

• They will note that your card has been flagged for suspicious transactions and will ask for you to prove that the card is in your possession. You may then be asked to provide the three-digit security code on the back of your card, your PIN, or a verification code that was just sent to you.

Email Phishing

• Be on the lookout for spelling and grammar errors in the subject line or body of the email. It also may be a warning sign if the email does not address you by name or if the email address does not match the organization (e.g., irs.net).

• Scammers will also sometimes include deadlines or threaten account suspension to add urgency and override your normal sense of caution. If the sender does not provide contact information, or if something feels suspicious (e.g., asking you to click a hyperlink) please contact the card issuer at 1-800-240-8100.

Text Message Phishing

• Be aware if the sender sends a link rather than a phone number to call. Scammers may also ask that you log onto your account to verify a transaction by providing your PIN or three-digit CVV code.

Website Phishing

• It may also be a red flag if there is something slightly off about the website or the address or if there are misspelled words or odd logos.

• Look out for unusual pop-ups on the site that request you enter personal account information. Also be wary of HTML links that do not match their destination.

• If you are unsure about a link, you should manually enter the full website URL or address into your browser instead of clicking on a link provided to you.

Social Media Phishing

• Warning signs include friend requests from someone you do not know, or a post asking you to click on a link and provide personal information.

For more information on Economic Impact Payments, visit EIPcard.com.

2021-01-14T14:45:54

(BPT) – Quality smartphones come in all configurations and price points these days. Here are some of the key things you’ll want to look for to make sure you find one that works best for your needs. Happy shopping!

1) Operating system (OS): There are two different operating systems to choose from. iOS works with iPhones, while Android operates with a wider variety of smartphones, like those from Samsung or Motorola. In general, iOS is considered easier to use, but you need to have an Apple device. Android gives you more options, plus the ability to customize it with third-party software and widgets.

2) Camera: Most people now use their phones as their primary camera, so the right selection here will be an especially important one. More and more smartphones boast cameras with at least 12 megapixels, so don’t go by only that stat. Instead, focus on individual camera specs and special features like dual lenses or the ability to edit and enhance photos.

3) Screen size: Get the right size screen for the things you’ll want to do. Buy a phone with a screen smaller than 5.5 inches if one-hand use is important to you or if you have smaller hands. Get a bigger-screen phone if you like to watch a lot of videos or play games, or simply want to have an easier time navigating on your touchscreen.

4) Display: You’re going to spend many hours gazing at the screen, so make sure it offers the viewing experience you’re after. If you plan to watch a lot of videos, look for a minimum of full HD (high definition), which is 1920 x 1080 pixels. You’ll also want to familiarize yourself with some of the underlying technologies: LCD, OLED, and AMOLED are all terms you’ll see used, and each offers a different range of advantages.

5) Design: Determining good smartphone design is purely subjective. Many people prefer a metal or glass design; others, plastic. If you’re concerned about durability, look for a phone that is water-resistant. A handful of phones also now feature a shatterproof glass display, and many include a Gorilla Glass display to protect it against short drops (a protective case will help with that, too).

6) Processor: Even midrange phones now offer satisfactory performance for nearly any user level or basic task. A good processor inside a phone will translate to faster open times for apps, smoother navigation and quicker photo editing.

7) Battery: Many factors, including the screen size, processor and operating system, determine how long a smartphone lasts on a charge. A decent benchmark is to look for a smartphone with a battery capacity of at least 3,000 mAh. Any phone that lasts longer than 9 hours of straight 4G LTE use is considered very good.

8) Storage: Go for as much internal storage as possible. Some apps and games can easily take up more than 1GB of storage, and most smartphone owners capture and store large numbers of high-res photos and videos. While some models offer just 8GB or 16GB, the minimum on premium handsets these days is usually anywhere from 32GB to 64GB. Adding a microSD card will also help expand your storage. It’s available on many Android phones, some of which can accommodate 1TB or more.

9) Price: Don’t pay for more than you need. The latest iPhone and premium Android phones start around $800, and can easily run $1,000 or more. But there are great options below $500, and even some solid choices for well under $200.

10) Carrier: A smartphone requires a wireless plan. Choose a service provider that offers what you’ll really use, and at a price that suits your budget. Consumer Cellular, for example, offers a wide variety of smartphone choices from entry level to top of the line, along with talk, text and data plans, with no contract.

Let today’s top technology work for you. It’s a very competitive marketplace, so by shopping wisely, you’re sure to find a smartphone that keeps you connected at a great price.