Monthly Archives: September 2022

Startling success for clients is deemed largely responsible for the impressive start of their new program launched earlier this year.

September 21, 2022 Boston, MA Since launching in 2014, Replace Your University has helped thousands of clients successfully pay off their home early resulting in an average savings of almost $200,000. The companys latest program, Replace Your Employer helps clients via an assembled dream team of expert investors to help them learn the process of real estate investing in real time. The CEO of the Replace Your Employer Division, Edmund Fontana, stated the goal of this program is to provide individuals with all the tools they need to succeed in their own real estate investment business. He also believes that this will be a major step in helping people take control of their lives and achieve financial independence.

Replace Your University started in 2014 when Michael Lush used an ingenious strategy to accelerate the payoff of his mortgage in 3.5 years, resulting in eventually sharing the strategy with others. Since then, the company has grown exponentially largely due to the incredible success clients consistently achieve. With most clients being referrals, it is clear the strategy is effective. Recently, the company was recognized as the #3 mover and shaker in the financial education industry.

Company culture is more important than ever before. In a world where technology is constantly evolving and jobs are constantly changing, its essential that companies find ways to help employees evolve and grow as well. Thats where Replace Your University has figured out the formula and treats their team as a family and focuses on having a healthy work/life balance and not just revenue at all costs. The culture shift is designed to create a more collaborative and engaging work environment for employees.

As the CEO of Replace Your University, Michael Lush, stated, We created a sales environment that is customer centric while still honoring our hyper-growth initiatives and desire to rapidly acquire additional market share. This process required our sales team to dig deep into additional training and refine their skill set. Then we implemented an industry leading consultative sales process focused only on what is best for the client while sharing our entire catalog of products.

The team at Replace Your University is excited to continue moving forward and are looking forward to changing more lives in meaningful ways. With each of the executives believing deeply in Christian principles, charity, and service to the community, they have found this to be one way to take their expertise and help thousands of people move forward in their financial lives. Their vision is to ultimately enable more families to have more financial resources, so they can help serve their communities as well.

Replace Your University has built a solid foundation in the financial education industry. The evolution from a startup to an established company has further helped them make significant improvements in every part of the company. This recent development is expected to take the company to a greater height in the financial education sector.

You can learn more about Replace Your University by going to their website replaceyouruniversity.com. Replace Your Mortgage does not offer mortgages, Helocs, or loans of any kind. Replace Your Mortgage is not a bank and does not provide credit offers. Replace Your Mortgage is strictly for educational and informational purposes only.

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Media ContactCompany Name: Amplified AuthorityContact Person: Chris B.Email: Send EmailCountry: United StatesWebsite: http://www.AmplifiedAuthority.com

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Financial Education Company, Replace Your University, on a Roll After Rapid Growth & Success of Their Latest Program 'Replace Your Employer' -...

In 2018, a young entrepreneur from Jaipur, registered a business selling beeswax candles. She worked with tribal women artisans from marginalised village communities across India to create safe, sustainable products. In just a few years, she has grown her business manifold and helped generate livelihood opportunities for over 800 women.

Meanwhile, another entrepreneur from Maharashtra was trying to make her mark. Coming from a community where women didnt work, she convinced her husband to let her become a part of their family business. Today, she is at the helm, and her business of making statues has grown internationally. Taking this step changed her role in her own family, empowering other women in the community to seek financial independence.

Women entrepreneurs are a catalyst of change in Indian communities becoming role models, creating opportunities, and uplifting the societies they operate in.

More than an economic growth story

Undoubtedly, women entrepreneurs are a vital part of Indias growth. According to a report by Google and Bain & Company, there are 13.515.7 million women-owned enterprises in India, representing 20% of all Indian enterprises. The World Economic Forum considers empowering womens entrepreneurship as key to economic recovery. But women-owned businesses are more than just contributors to GDP. Womens unique role in the community, the family structure and in child-rearing makes them critical agents of change. They contribute significantly to economic development and poverty reduction and empowerment of people and communities around them by changing social mindsets, breaking biases, and creating more collaborative and less discriminatory workplace cultures.

Today women entrepreneurs in India are shaping and changing the future of communities by:

Investing in the future of India

Despite their potential to catalyse economic and social growth, women entrepreneurs in India are fighting an uphill battle. They struggle with social constructs, biases, and an ecosystem that is heavily skewed in favour of their male counterparts. There is an urgent need to invest in creating supportive ecosystems and to bring together allies who can together catalyse women entrepreneurship in India.

Views expressed above are the author's own.

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Women entrepreneurs: The key to uplifting communities in India - Times of India

Queen Elizabeth was "very hurt" when Prince Harry and Meghan, Duchess of Sussex stepped down from royal duties.

The couple tied the knot in 2018 but made the decision to quit royal life in 2020 in favour of a life in Los Angeles but were not allowed to use their HRH titles as they sought financial independence and now a royal expert has claimed that Harry's grandmother and Her Late Majesty - who died at the age of 96 on September 8 following a 70-year-reign - wanted to refrain from even thinking about the move.

In an excerpt from her new book 'The New Royals: Queen Elizabeths Legacy and the Future of the Crown', shared with Variety, Katie Nichols writes: "The Queen made it clear that if Harry and Meghan chose to leave, they could not reap the benefits of being royal. And according to a friend, privately the queen confided that she was exhausted by the turmoil of their decision. She was very hurt and told me, I dont know, I dont care, and I dont want to think about it anymore!'"

Prince Harry and the Duchess were already parents to Archie, three, when they quit the Royal Family and welcomed Lilibet, 15 months, after they had relocated and the royal expert went on to claim that it was a "source of sadness" that the Queen saw "so little" of her youngest great-grandchildren towards the end of her life.

She added: "But it was a source of sadness to the Queen that she got to see so little of Archie and Lilibet and that Harry and Meghan were not able to join her for a weekend at Balmoral in August, when the queen used to host a 'sleepover' for all of her grandchildren and great-grandchildren."

Katie also added that King Charles - who acceded to the throne the moment his mother passed and left his eldest son Prince William as heir apparent to the throne - is also "hurt and disappointed " with the situation regarding Harry and the former 'Suits' actress but insisted that the monarch's love for his youngest son is "unconditional."

She added: "He is hurt and disappointed but he has always said his love for Harry is unconditional."

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Queen Elizabeth was 'very hurt' when Harry and Meghan quit the royal life - leader-call.com

HARLEM, N.Y., Sept. 22, 2022 (GLOBE NEWSWIRE) -- Esusu, the leading financial technology company leveraging rent reporting for credit building, and Campus Apartments, one of the nation's largest providers of on- and off-campus student housing, announced today a new partnership to make Esusu's rent reporting platform available to Campus Apartments' full portfolio. Esusu reports on-time rent payments to the three major credit bureaus (Equifax, Transunion, and Experian) to establish and boost credit scores for residents.

The partnership will help students living in Campus Apartments' housing properties establish a financial identity and forge the path to a strong financial future. Campus Apartments partnered with Esusu to provide rent reporting access at no cost to students, who can leverage the platform's automatic 24-month look-back feature to immediately establish or see improvements to their credit scores, given that on-time rental payments are a key indicator of financial stability. The credit-improvement benefits can be shared with up to seven individuals, which enables all roommates to improve their financial health.

"Esusu and Campus Apartments are providing access to credit and wealth-building opportunities for thousands of students across the country who have previously had limited options to build credit and establish their financial footprint," said Wemimo Abbey and Samir Goel, Co-Founders and Co-CEOs of Esusu. "This partnership is designed to create a financially-stable entry point to credit building for students. Our goal is for every student to graduate with a degree in one hand and a great credit score in the other."

For over six decades, Campus Apartments has offered a higher standard of living and differentiated amenities that appeal to students and parents alike. Implementing Esusu's rent reporting platform will enable Campus Apartments to continue strengthening its commitment to students. Although Gen Z (ages 18-24) Americans are money and credit-conscious, a 2021 Experian study showed that the average FICO score for Gen Z was 679, while the national score was 714. Historically, this age demographic has had limited opportunities to build credit in a responsible manner, which this partnership is designed to elevate.

The implementation of the CARD Act (Credit Card Accountability, Responsibility and Disclosure Act) in 2009 has made it difficult for students to obtain credit cards, the easiest entry point to building credit. While this law protects students from making poor financial decisions, it calls out the need to have alternative ways for students to establish their credit scores especially for those who do not have a co-signer available to them. For those that do have a co-signer or rent paid by a supportive source, the student who resides in the unit still benefits from rental payments being recorded on their credit file. Rent reporting allows students who cannot easily access a credit line the possibility to establish and build credit with a routine monthly rental payment a major key to long-term financial success.

"Esusu's inspiring mission and innovative approach to helping students build their credit profile makes for a natural partnership with Campus Apartments, a company that prides itself in delivering solutions that create positive impact all around,'' said Daniel I. Bernstein, President, and Chief Investment Officer of Campus Apartments. "We are proud to demonstrate market leadership and provide a meaningful amenity that aims to enhance each phase of a student's journey. We're excited to begin seeing the positive impacts it has on students, their families, and their financial futures, across the country."

Campus Apartments and Esusu share in their commitment to offering innovative amenities aimed to improve resident wellbeing. In addition to earning credit improvement, students will have access to the Esusu Renters Marketplace, where they have the opportunity to access other financial literacy and credit education courses to help support their path to financial independence and success.

About EsusuEsusu is the leading financial technology platform that leverages data solutions to empower residents and improve property performance. Esusu's rent reporting platform captures rental payment data and reports it to credit bureaus to boost credit scores. This allows renters to build and establish their credit scores while helping property owners mitigate against initiating evictions, powered by differentiated data and insights. Founded in 2018, Esusu reaches over 2.5 million rental units across all 50 states in the U.S. Learn more at http://www.esusurent.com and follow us on Facebook @myesusu and on Twitter @getesusu.

About Campus ApartmentsFounded in 1958, Campus Apartments is one of the nation's largest providers of on- and off-campus student housing. As a vertically integrated firm, Campus Apartments is experienced in all facets of the student housing industry. The company has over $2 billion in assets under management in 18 states, serving more than 50 colleges and universities. For more information, visit: http://www.campusapts.com and connect with Campus Apartments on Twitter and Facebook.

Press Contact:Edna CamposSGPR on behalf of Esusuedna.campos@smallgirlspr.com

Deepika CicoriaBrownstein Group/Red Thread PR on behalf of Campus ApartmentsDeepika@redthreadpr.com

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Esusu and Campus Apartments Partner to Advance Wealth-Building Opportunities for Students - Benzinga

A patriarchal mindset still runs deep in Turkish society, as experts point out that divorced women are often at risk of exclusion from society. A deeply entrenched saying, you leave parents home in bridal dress and only return there in a shroud, lingers in most places, Dr. Zehra Zeynep Sadkolu, a sociology expert from the Istanbul University, says.

Divorces are on the rise in the country and official figures show they increased to 174,085 in 2021, from 136,570 in 2020, according to the Turkish Statistical Institute (TurkStat). More than 33% of divorces occurred within the first five years of marriage, while the majority of divorces ended up with childrens custody handed to mothers.

Studies show divorces often push women to the fringes of society, experts say, putting more social pressure on them and, sometimes, discrimination.

Sadkolu told Anadolu Agency (AA) on Thursday that despite regional differences, divorced women without financial independence tend to keep a low profile to avert social pressure. In some places, women have to fight more against prejudice. In some cases, they are even viewed as a threat by other women, she says, pointing out the warped mindset that widows or divorced women may seduce married men. They prefer isolating themselves from society because of the pressure, are more careful about their manners, what they dress and shun social events. They tend not to go home in late hours.

Women without economic security and low education levels mostly choose to be invisible, she added. She says challenges are more for single mothers. They face pressure like prejudice over their lack of care for their children (if they seek to socialize without the presence of their children).

However, she acknowledges that divorces have been more tolerable recently. Yet, although divorce is no longer a matter staining honor in some places, mothers seeking divorce are forced to continue their marriage by social pressure which tells them that they have to continue the marriage for the sake of their children, Sadkolu says. Women, anyway, have more difficulty making up their minds on divorce compared to men. They are afraid of losing their economic means and reaction from their social environment, she says. Rate of womens participation in the workforce is around 30% and women often can have social security only through their husbands or fathers. So, divorce means economic insecurity for them, she added.

Lawyer Fatma Bakrc says divorce rates increased especially after the COVID-19 pandemic and women were now less tolerant toward problems stemming from their marriage. Women with economic independence often make up their minds for divorce easier. If women are dependent on their husbands, they even tolerate domestic abuse and avert divorcing, because they have no other option, she said.

Bakrc also blames husbands in some divorces for threatening women by obtaining sole custody of their children. Women are afraid of losing their children the most, she says. She also points out to lengthy divorce process, which can take up to five years in difficult cases, although divorces are finalized in just one hearing if both sides agree.

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When you are starting a business, investing in real estate ventures, or engaging in other commercial activity in Pennsylvania, it is a good idea to consider forming a limited liability company (LLC).

LLC is the way to go, and the most common business [structure] thats currently formed, says Jacob Cohen, owner of Jacob Cohen & Company, CPAs, a Philadelphia-based certified public accountant firm serving individuals and business owners. Its flexible, and you can elect for it to be taxed as a partnership.

An LLC is a hybrid between a corporation and a partnership. As such, an LLC provides the liability protection of a corporation, with the advantage of being taxed as a partnership. Generally, this means that a Pennsylvania LLC shields you from personal liability arising from your business activities. At the same time, it provides you with pass-through tax treatment on the profits and losses from your business. Basically, youll avoid being taxed twice, as a business and as an individual.You can incorporate your LLC yourself, hire a lawyer to guide you through the process, or use an online service like LegalZoom to register your business quickly.

We interviewed Pennsylvania-based experts on their experience with registering for an LLC in the Keystone State. These are the steps involved in setting up your LLC in Pennsylvania, as outlined below.

Pennsylvania requires that every LLC operating in the state have a unique name. You can conduct a search at the Pennsylvania Department of State website to see if your proposed name is available. The name of your LLC must contain the words Company, Limited, or Limited Liability Company, or either the abbreviation L.L.C. or LLC.

There are certain restrictions to choosing a company name. It cannot reference a governmental agency , such as the FBI, the State Department, or the United States Treasury. It also cannot indicate a fiduciary relationship if one doesnt exist (trust, trustee, fiduciary). It also cannot include a non-associated financial institution or professional services firm, such as a bank, law firm, or medical practice.

Licensed professionals in Pennsylvania, such as doctors, lawyers and therapists, have different company formation requirements. They must form what is called a restricted professional company. You can check to see if your industry is considered to provide restricted professional services by reviewing the Pennsylvania Statement of Policy.

If your proposed name is available, you may reserve it for up to 120 days for a fee of $70 by filing a Name Reservation request form online or mailing in the form.

In choosing your LLC name, you will want to consider the following:

The legal name of your LLC does not have to be the same as the name you use to operate your business, as you can use a doing business as (DBA) name or trade name. For this reason, it is important to conduct a trademark search for your DBA or trade name to ensure that no one else has already obtained a trademark for your proposed trade name. If you choose to operate under a DBA or trade name, you still need to follow the same LLC naming conventions for your Pennsylvania LLC and also register your fictitious name (DBA) with the Pennsylvania Department of State. A DBA is a commercial name and is not a legal entity. Therefore, if you use a DBA, you still need to form an LLC to provide liability protection for your personal assets.

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When you are completing the Pennsylvania LLC form, you will be asked to list a registered agent for your company. A registered agent will be your businesss main point of contact with the state. This person will accept all state paperwork, including all legal documents, tax statements, lawsuit notices, court orders, and government correspondence.

Related: What Is a Registered Agent?

The registered agents name and address must be made visible to the public for anyone who needs to contact your business. This address must be a physical location and not a post office box. The registered agent must be accessible during normal business hours. You can designate yourself or someone else or a Pennsylvania-based company (e.g. registered agent service) to be the registered agent.

If you are always busy and difficult to reach, and you dont have anyone that you feel comfortable with for this role, you can use a registered agent service. There are commercial providers who can serve as your registered agent for a fee (generally about $100-$200 per year). One benefit of using a commercial service is the greater likelihood that your business is in receipt of all legal documents, thus avoiding noncompliance with state regulation deadlines.

The next step in forming an LLC in Pennsylvania is to complete and file a Certificate of Organization for Limited Liability Company with the Pennsylvania Department of State. The Certificate of Organization is a document that lays out basic information about your business and officially establishes your authority to operate as an LLC in Pennsylvania.

To complete the Certificate of Organization, you will need to provide the following information:

One important item you will need to determine when completing the Certificate of Organization is whether your LLC will be member-managed or manager-managed. In LLCs, the LLC owners are called members. Many LLCs are member-managed, as they are usually owned by one or just a few members. If you dont have the time or inclination to manage your business on a daily basis, you can appoint another member to serve as manager, or you can hire an outside manager.

You want to always select manager-managed [on the form], says Sekou Campbell, partner and transactional attorney at the Philadelphia office of Culhane Meadows PLLC, a corporate and commercial law firm. [Then] you have the option of either having a member manage it, or [having] a manager or someone who is not a member manage the LLC, Campbell explains. You can have a manager who is a non-owner of your LLC manage it.

Along with the Certificate of Organization, you will also need to include a Docketing Statement. The Docketing Statement requires your LLCs employer identification number (EIN), fiscal year, and other details. You can mail in the Certificate of Organization and Docketing Statement, or you can file them online for faster processing. The filing fee for the Certificate of Organization is $125, and there is no fee for the docketing statement. Since most LLCs do not have an EIN until after filing, this does not need to be provided on the docketing statement at the time of filing. It can be provided when you receive your EIN.

If your certificate is approved, youll receive a copy of the filed certificate in the mail. If the state rejects your certificate for some reason, the Department of State will identify the issue, and you will have an opportunity to make corrections and refile.

An operating agreement is an agreement among the members of the LLC that details how the LLC will be managed and operated. Even if you are a single-member LLC, it is important to have an operating agreement, as the management structure may change over time, especially if your business grows quickly.

Some of the key benefits of an operating agreement are:

It is recommended that you incorporate the above structural details into your LLC operating agreement. Drafting an LLC operating agreement can be a daunting task. If you plan to do this yourself, you would be well-advised to consult with an attorney familiar with Pennsylvania LLC laws.

Not having an operating agreement, or having a very poorly written operating agreement, and then not having strong buy-sell provisions [if partners split] are probably the two things that I see hurt the business, says Campbell. Completely out of the blue, if someone gets injured or, God forbid, passes away, buy-sell provisions also cover those things as well.

Once you have received your file-stamped Certificate of Organization and your LLC is officially formed, you will then need to apply for a federal Employer Identification Number (EIN) with the Internal Revenue Service. You need an EIN in order to pay Pennsylvania business taxes for your LLC, as well as to open an LLC bank account and conduct other types of business. You can obtain your EIN on the IRS website, and the Internal Revenue Service lets you register an EIN for free.

After you have obtained your EIN, you can open a business bank account for your LLC. It is very important to create and maintain a separate business bank account and make sure you do not commingle any of your LLC finances with your personal finances. The same is true regarding credit cards: you should have a separate credit card in the name of the LLC that is used exclusively for LLC business.

To establish a business bank account, you will need to show the bank your filed Certificate of Organization and your EIN. The bank may also require a signed operating agreement and background information for each LLC manager and member.

Depending on your specific business activities, your LLC may need to report sales and use tax and/or employer withholding. In order to register your LLC for state tax and employer accounts, youll need to complete the Pennsylvania Enterprise Registration Form.

You may also need to obtain any necessary business licenses or permits. To determine if you need a PA business license, you can check with the Pennsylvania Department of State Licensing Services.

If you are operating an online business, there are additional issues that will need to be considered, including complex privacy and data protection laws in certain states (California, Colorado, Connecticut, Utah, Virginia) and the UK / European Union.

Lastly, you may want to consult with a business attorney or accountant before you form your Pennsylvania LLC, particularly if it is your first time. It may save you the time and expense of having to fix any mistakes you may make during your LLC formation process.

I would definitely recommend having a business attorney, says Catherine Janisko, founder and owner of Catsy Lu Beauty, Pennsylvania-based cosmetic and personal care company. You just dont know what can happen in the future, especially if youre online.

Filing your Certificate of Organization in Pennsylvania will cost $125. If you choose to reserve a name beforehand, you can hold a business name for up to 120 days for an additional fee of $70. Additional services like LegalZoom come with an additional cost.

Each year, you will need to file an annual report to maintain annual registration, which includes a $70 fee.

Filings completed online will take about four weeks, and filings sent in by mail will take five to six weeks to process.

You dont have to engage a lawyer in order to start an LLC, but the added advantage of working with a professional is that you can ensure youre taking the right steps in the right order. Weigh the pros and cons of retaining professional help versus incorporating your LLC yourself.

An LLC formation service like LegalZoom or Northwest Registered Agent will walk you through a checklist of the steps you need to take to file your LLC. The service then sends in the application on your behalf, and communicates the Secretary of States decision back to you one it has been received.

A DBA, which stands for Doing Business As, is a vanity name for your LLC that you can use when conducting business. Some organizations may want their business name to be different from their actual LLC name, for marketing purposes. Your DBA cannot be a name that has already been filed in the state of Pennsylvania.

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CHARLOTTE, N.C., Sept. 13, 2022 /PRNewswire/ -- As Gen Z looks to establish their financial footing, the economic environment and inflation have posed new challenges in achieving their financial goals. This is according to new research published today by Bank of America's Better Money Habits exploring this generation's (ages 18 to 25) distinct approach to money including their financial priorities, behaviors and challenges. With Gen Z being far more diverse than previous generations, the new research also examines ways in which race, ethnicity and gender may influence their financial priorities and challenges.

According to 73% of Gen Z, the current economic environment has made it more challenging to save. They feel inflation has made it harder to save for financial goals (59%) and pay down debt (43%) and has created more financial stress (56%) in their lives. Forty percent also say surging rents or home prices have made it challenging to afford day-to-day necessities. According to The Bank of America Institute, younger consumers are getting squeezed the most by higher rent inflation, with median rent payments up 16% year over year in July for Gen Z, compared to just 3% for Baby Boomers.

Gen Z isn't taking inflation and the higher cost of living sitting down. Currently, 75% of Gen Z are taking or considering steps to earn additional income including: changing jobs (34%), turning a passion into a source of income (31%), taking on a second job (26%) or even a job they don't like (23%).

"Gen Z is ambitious and enterprising, and taking positive actions as they join the workforce and make some of their first financial and career-driven decisions," said Christine Channels, Head of Community Banking and Consumer Governance at Bank of America. "Current economic and inflationary headwinds have created added challenges for many. Through our Better Money Habits platform, we're connecting these young adults to a wide range of resources and guidance designed to give them the skills, knowledge and confidence to succeed financially."

Other key findings from the Better Money Habits research include:

When it comes to success at work and in life, Gen Z is driven by the desire to achieve financial peace of mind (74%) and to comfortably afford the things they want. Gen Z's top three priorities for the year ahead include furthering their education (40%), advancing their career/salary (32%) and getting a new job (31%). These priorities are followed closely by saving for retirement (25%), traveling (24%), buying a car (22%) and building good credit (20%). They're more likely than other generations to cite the desire to comfortably afford material items (45%) as a motivator to achieving financial success (vs. 34% of Millennials, 30% of Gen X, 30% of Boomers). More than half (56%) of Gen Z say discipline is a key trait to achieving financial success, with other important traits and characteristics being financial savvy (37%), organization (35%), motivation (34%), self-awareness (29%), frugality (20%) and confidence (20%). Today, two-thirds (66%) are actively saving for financial goals and, despite the current environment, 58% are optimistic about their financial futures.Much of Gen Z has the financial basics down, though struggle with more complex topics such as investing and debt. Gen Z feels equipped to handle basic financial tasks, including budgeting (71%), managing day-to-day expenses (70%) and building/managing credit (65%). However, preparedness levels decrease significantly when it comes to the future and more complex topics, including building an emergency fund (54%), saving for retirement (43%) and investing (29%). Nearly 40% have no investments and of those the top reasons for not investing include having no additional funds to spare (44%), not knowing where to start (31%) and feeling investing is too risky (23%).Federal student loan freeze brings some relief. Nearly half (47%) of Gen Z already carries some form of debt, including through credit cards and student loans. They have found that the federal student loan freeze has brought them some relief. Among those with student loans, 41% say the freeze allowed them to maintain their current standard of living, 23% say it allowed them to contribute more to their savings, and 21% say they've been able to continue paying down their loan without collecting interest.

When dating, Gen Z would rather talk religion and politics than about their money. Growing up, 35% of Gen Z reported having open discussions with parents or guardians about financial topics more so than Millennials (26%), Gen X (23%) or Boomers (21%). Despite greater dialogue about money at a young age, Gen Z still view money talk as a more taboo topic of discussion early in romantic relationships. During the first six months of a new relationship, they feel more comfortable discussing religion (81%), politics (75%) and previous relationships (71%) than they do their income (69%) and debt (60%). Many also feel more comfortable meeting their partner's family (80%) and saying "I love you" (73%) within the first six months than they do talking about money.

Demographic Spotlights

The research also explored how race and gender may influence financial priorities and challenges, including the racial wealth gap. Reflecting on the last five years, about two-in-five Black/African American (41%) and Hispanic (42%) Gen Z say some or significant progress has been made to close the racial wealth gap, while others in these groups say no progress has been made (both 30%). Looking to the next five years, about half of Black/African American (47%) and Hispanic (54%) Gen Z believe some or significant progress will be made to close the gap, while others say no progress will be made (28% and 24%, respectively). Additional findings include:

Black/African American Gen Z is paving the way toward financial independence and embracing a hustle culture, though barriers persist around debt and saving. 60% of Black/African American Gen Z identify as mostly or fully financially independent more so than their non-Black/African American peers (45%). 80% are currently/considering taking routes to earn supplemental income more so than their non-Black/African American peers including taking on a second job (35% vs. 25%). They are 3x as likely to prioritize starting or growing a business in the year ahead compared to non-Black/African American Gen Z (15% vs. 5%). Black/African American Gen Z is nearly twice as likely to say they currently invest or are considering investing in cryptocurrencies than non-Black/African American Gen Z (22% vs. 12%). While Black/African American Gen Z is more likely to have debt than their counterparts (60% vs. 44%), this is down from 70% year-over-year. This community is more likely to cite taking on too much student loan and/or credit card debt as their biggest financial regret (30% vs. 17%). 40% contributed to their savings over the last year (vs. 56% of non-Black/African American Gen Z), however two-thirds (67%) don't have enough emergency savings to cover three months of expenses with one-third (32%) of all Black/African American Gen Z citing not having an emergency fund as their biggest financial regret.

Family is at the cornerstone of Hispanic Gen Z's financial lives; equate homeownership with financial success.

54% percent of Hispanic Gen Z is not financially independent and still rely on family for financial support. Family is also more of financial motivator, with 36% hoping to pass down wealth to the next generation (vs. 27% of non-Hispanic Gen Z) and to succeed financially to make their parents proud (36% vs. 23%). 57% say being able to provide for their family's future is part of their definition of financial success, and 64% say it's important to educate their family and/or community on financial matters. Despite an emphasis on family support, nearly two-thirds (65%) say their parents did not talk about finances openly when they were growing up. Education gaps remain a barrier for this community when it comes to investing. 42% don't have any investments, and when asked why, the top reason is not knowing where to start (42% vs. 27% of non-Hispanic Gen Z). Hispanic Gen Z is prioritizing homeownership. Nearly half (45%) say fully paying off a home/mortgage aligns with their definition of financial success, and they're more likely to prioritize buying a home in the year ahead (22% vs. 14% of non-Hispanic Gen Z).

Gen Z women's financial literacy gaps and lack of investing, relative to men, may negatively impact their near and long-term financial wellness.

Gen Z women and men feel equally equipped to build/maintain credit (64% vs. 66%) and stick to a budget (69% vs. 73%). However, Gen Z women feel less equipped to manage day-to-day expenses (63% vs. 76%) and to build an emergency fund (48% vs. 61%). Just 38% of Gen Z women have enough emergency savings to last three months, compared to 48% of Gen Z men. In terms of longer-term planning and investing, Gen Z women's financial knowledge has them feeling less equipped than Gen Z men to save for retirement (37% vs. 49%) and to invest (22% vs. 35%). Today, 41% of Gen Z women have not yet begun investing, compared to 34% of men, and are less likely to even be considering individual investments (36% vs. 47%) or retirement savings vehicles such as a 401(k) (39% vs. 46%).

"We recognize the unique financial needs across diverse and historically underserved communities," Channels added. "The insights from this annual research help to inform how we tailor resources and guidance to empower the next generation as they embark on their financial journeys. Last year, for instance, we developed a Gen Z financial guide based on insights into the priorities, preferences and challenges of this growing client segment."

Methodology

The study was conducted June 24 - July 13, 2022, by Ipsos in both English and Spanish and is based on nationally representative probability samples of 1,098 general population adults (age 18 or older), and a partially overlapping sample of 921 Gen Z adults (age 18-25), including 124 Gen Z adults from a non-probability sample. This survey was conducted primarily using the Ipsos KnowledgePanel, the largest and most well-established online probability-based panel that is representative of the adult US population. Panelists are scientifically recruited into this invitation-only panel via postal mailings to a random selection of residential addresses. To ensure that non-internet households are included, Ipsos provides access to a tablet and internet connection to those who need them. Because of this probability-based sampling approach, KnowledgePanel findings can be reported with a margin of sampling error and projected to the general population. The margin of sampling error for the general population sample is +/- 3.2 percentage points at the 95 percent confidence level.

Better Money Habits

At Bank of America, we're committed to helping people lead better financial lives by equipping them with the skills, knowledge and confidence to succeed. That's why we created Better Money Habits, a financial education platform of tools and information that helps people make sense of their money and take action to improve. As a cornerstone of Better Money Habits, we offer free financial education content and tools that break down financial topics in a way that's approachable and easy to understand. We continually look for ways to expand the reach of Better Money Habits and also offer Spanish language resources on the site.

Bank of America

Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,000 retail financial centers, approximately 16,000 ATMs and award-winning digital banking with approximately 55 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

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73% of Gen Z say economic environment has made it more challenging to save; 75% seeking ways to earn additional income - Automotive News

King Charles III should pay inheritance tax on the late Queen Elizabeth II's personal fortune British people feel, according to the results of a new survey undertaken days after the new monarch's accession.

Reports that the king would not be expected to pay the 40 percent inheritance tax on any of the private property passed to him by his mother began to circulate immediately after her death, following the creation of a memorandum on royal taxation overseen by Elizabeth and the U.K. government in 1993.

In 2022, the queen's personal wealth was estimated to be around 370 million ($433 million) by Britain's Sunday Times.

This wealth is separate from the institutional property associated with the crown, such as the crown jewels, palaces and state land, the royal collection of artworks and income reserves connected with the sovereign grant.

The memorandum states that in the case of assets which can "properly be regarded as private" property of the monarch, "inheritance tax will not be paid on gifts or bequests from one sovereign to the next, but will be payable on gifts and bequests to anyone else."

This means anything left to Charles will be tax free, whereas inheritances left to any other member of the royal family will be subject to inheritance taxation, which in the U.K. is 40 percent of the value of bequests above 325,000 ($368,000).

A poll commissioned by Tax Justice U.K., an organization campaigning and advocating for a fair and sustainable tax system in Britain, has shown that 63 percent of respondents believe Charles should have to pay inheritance tax.

Undertaken by market research company YouGov, the poll also showed that just 16 percent of Brits asked felt that the king should be exempt from paying inheritance tax, while 21 percent responded that they did not know.

The justification for the special arrangements for the monarch made in the 1993 memorandum states that:

"The monarchy as an institution needs sufficient private resources to enable it to continue to perform its traditional role in national life, and to have a degree of financial independence from the government of the day."

A statement from Robert Palmer, of Tax Justice U.K. said of the poll results: "It's clear from this poll that the public believes King Charles should pay inheritance tax on the private wealth he will inherit as a result of the Queen passing away.

"The fact that the monarch pays no inheritance tax at all is just one example of how the tax system is designed so that the wealthy can pay low levels of tax.

"Politicians should be asking those who can afford itincluding the very wealthyto pay more in tax."

Graham Smith, CEO of Republic, an anti-monarchy campaign group, took a stronger line on the subject, previously telling Newsweek that the arrangement was a "disgrace."

"In short it's an absolute disgrace. There's no justification for it," he said.

"This has been the case for quite some time, that the monarch does not pay inheritance tax when they take the throne. There's absolutely no justification for allowing them to accumulate this enormous wealth."

"We just keep on throwing more money at them and they keep accumulating it while spending more of our money on their day-to-day costs," he continued.

"There needs to be a root-and-branch review of royal funding and they need to be brought into line with the same rules everyone else has to abide by."

The debate has been raised as Britain as inflation hit a 40-year high in July at 10.1 percent.

Charles came face-to-face with a member of the public complaining about the extravagance of the monarchy while Britain experiences a cost-of-living crisis during a walkabout in Wales last week.

While greeting a crowd of people, one man yelled: "Charles! While we struggle to heat our homes we have to pay for your parade. The taxpayer pays 100 million for you, and for what?"

So far there has been no official comment from Buckingham Palace following the death of the queen in relation to tax arrangements.

Queen Elizabeth II died on September 8 at her Scottish home of Balmoral Castle. In accordance with tradition, her son Charles became king upon the moment of her death.

Newsweek has approached Buckingham Palace for comment.

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King Charles Should Pay Inheritance Tax Say 63 Percent of Brits - Newsweek

Im a resident of the beautiful, mile-high city of Denver, Colorado. The latest policy decision Denver has made that inspires some hopebut also some skepticismis a basic income program aimed at reducing homelessness and poverty.

For now, Denvers program is relatively small. Only 140 individuals will qualify. They will receive $1,000 per month for 12 months or $6,500 upfront followed by $500 per month for 11 months.

Basic income programs have multiplied across the country, mostly in big cities as pilot programs. Ninety mayors are involved in a group effort to support basic income programs; at least 28 U.S. cities or states have already launched a program. Most are targeted to people in a specific population, such as homeless people, former foster children, pregnant moms, etc.

Many of these programs started with private funding. A few years ago, former Twitter CEO Jack Dorsey made headlines for committing $15 million to basic income programs. And in Denver, the Denver Basic Income Project started with a $5.5 million budget comprised completely of private donations.

But now the City of Denver is pledging $2 million in taxpayer funds to the effort. This raises the question: Is this a good use of taxpayer funds? Are basic incomes effective at shared goals in the community, like reducing poverty? Are there other considerations policymakers should make before cutting checks to beneficiaries in basic income programs?

Despite their current popularity with Democrat-led cities, basic income programs are not a totally partisan idea. In fact, well-known free-market economist Milton Friedman advanced the idea of a negative income tax, which is an idea very similar to universal basic income.

Some conservatives today also support such policies, but in general, for people who value limited government, one goal of basic income programs is to reform or replace existing welfare systems. The goal would be to move to a system of cash benefits rather than a patchwork of programs like Medicaid, food stamps, and Section 8, which provide specific benefits like health care, food, and housing to low-income people.

But, as Ronald Reagan famously said, the closest thing to eternity on earth is a government program. So, its not likely that universal basic income programs will result in any change to well-entrenched pre-existing safety net programs. Rather, they will layer on top of them.

Even so, a couple of small basic income pilot programs in some major cities have shown promising results when it comes to the goals of reducing poverty, substance abuse, and homelessness, and getting people into steady employment. Given how homelessness has been increasingin Denver, its increased by 12.8% in the last year alone, 31.8% since 2020policymakers are desperate for solutions to get people off the street and into stable housing.

Of course, the potential benefits of basic income programs have to be weighed against other potential effects. In other places, like Ontario and Finland, experiments with universal basic income have failed, mostly because when these programs are large, they become very costly and unsustainable. And lawmakers in Ontario were concerned that the program became an impediment, rather than a pathway, to financial independence.

Furthermore, in the U.S., many of these programs arent truly universal. This means they necessarily pick winners and losers. There will always be people who dont qualify, who are just over the eligibility threshold, and I think the criticism that pouring free money into the economy will further fuel inflation is fair and timely, given how inflation is already breaking the financial backs of so many Americans. Concerningly, inflation in home prices is actually a driver of homelessness.

And one can hope that the time limit for the Denver program stays in place. Safety nets should always be targeted and temporary, with the hope of restoring people to full self-sufficiency. We should always strive to create safety-net programs that dont create disincentives to work. Work is inherently good; people who have gainful employment reap myriad benefits for their mental health, long-term financial security, sense of worth, and connectedness to others.

Sonot to overdo it on the Reagan quotesbut the best social program is a job. If holding a job is too difficult because of extremely difficult circumstances, like homelessness, then perhaps a temporary basic income program can help people get to a more stable place.

When privately funded and run, basic income programs are effectively functioning as charities, and of course people are free to give to charitable causes they believe in. Private charities have a good track record at efficiently delivering donor dollars to people in need.

But as government programs, basic income programs face more hurdles and have more potential for unintended consequences, and because of this, policymakers in my city of Denver and elsewhere should proceed with caution.

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City of Denver Jumps on the UBI Train - Independent Women's Forum

George, 9, Charlotte, 7, and Louis, 4, are now using the last name Wales, a change from the name they've each used since birth, Cambridge.

The siblings, whose parents are Prince William and Kate, now go by the titles Prince George of Wales, Princess Charlotte of Wales and Prince Louis of Wales.

Phil Noble/AP

Charles made the announcement in his first address as king on Sept. 9. With the title change, Kate becomes the first person to use the "Princess of Wales" title since Williams' late mother Princess Diana. Charles' wife Camilla, now the Queen Consort, was referred to previously as the Duchess of Cornwall.

With the queen's death, William is now the heir to the throne and George, Charlotte and Louis are second, third and fourth in the line of succession, respectively.

Hannah Mckay/Reuters

Additionally, as heir to the throne, William inherited Charles' prior title of the Duke of Cornwall and now oversees the duchy of Cornwall, the private estate that was established in 1337 to provide financial independence for the heir and their family.

William, Kate and their children were formerly known as the Cambridges, as the couple previously held the titles of the Duke and Duchess of Cambridge.

The new last name for the family of five comes just as George, Charlotte and Louis begin classes at a new school.

Jonathan Brady/Pool/Getty Images

George, Charlotte and Louis moved to the preparatory school in Southeast England after their family moved this summer from Kensington Palace in London to Adelaide Cottage, a four-bedroom cottage on the grounds of Windsor Castle.

In school, the siblings will be known as George Wales, Charlotte Wales and Louis Wales.

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Prince William and Kate's kids have a new last name after Queen Elizabeth II's death - GMA