February 2021
Monthly Money News
Curated by: Coretta, Founder and Principal of Urban Money, LLC; B.A. in Economics and M.S. in Urban Policy/Planning
Home-Ec(onomics): the power of voting, at work!
Student loan forbearance, more covid-19 stimulus, the Tale of Robinhood and Gamestop
It’s been a few weeks, and the Biden/Harris Administration wasted no time. The power of voting, at work! Let’s get to it...
Biden/Harris with the swoop of a pen mere days into being in office extended federal student loan forbearance through the end of September. That's an additional 8 months of 0% due, and 0% interest on the principal. While we're ’re still waiting to hear more about loan forgiveness, an additional eight months of relief is monumental for most individuals and families.
Speaking of relief… Biden/Harris ran on providing additional stimulus while covid-19 remains rampant, and they are trying to deliver. While we wait to hear where they land on income thresholds, and stimulus check amounts; what we do know is that Harris was able to cast the tie-breaking vote in the Senate allowing them to fast-track legislation.
Meanwhile Robinhood and Gamestop grabbed headlines everywhere. They caught the attention of billionaires, hedgefunds, and of course Congress. The market volatility has sparked conversations (and debate) on whether policy is needed to regulate. It's a touchy subject, putting increasing amounts of pressure on Robinhood's public appearance and questioning who they really serve.
Unemployment dipped .4% to 6.3% beating economists expectations but still not demonstrating growth in the labor market the way we need it. The CBO predicts that the job market won’t return to pre-pandemic levels until 2024. As scary as that sounds, there’s new confidence in the job market as hard-hit industries find creative ways to stay above water.
Let us know what you think! #UrbanMoneyNews
Still feeling the financial effects of COVID-19? Download our Guide to Managing Money in a Pandemic!
Credit refresh
Bring new life to your credit score in a few easy steps.
Know where you stand
When was the last time you’ve checked your credit report and credit score (yes, these are two separate things). Knowing where you stand will help you assess what your next steps should be. Are you in repair mode or relax mode?
You Deserve to be rewarded
Better credit = better offers. Good credit opens up so many more doors. Committing to improving your score is the first step to unlocking better opportunities.
Credit cards are tools
When leveraged effectively, credit cards can be great tools for gaining and maintaining good credit. The trick: use them better than they use you.
No interest, no fees
Pay your statement balance when you can - and more than your minimum, when you can’t.
Protect your credit
Always choose yourself.
Interested in learning more? Contact us, we can help!
Want to celebrate Black History month? #buyblack
“…the confidence of the people is worth more than money.”
-Carter G. Woodson
The Father of Black History said it best. In order to truly celebrate us, is to support us. This year, more than ever, corporations are showing their investment into Black entrepreneurs and communities by featuring their products and services on their websites. (Queue the T-Mobile, and Target ads).
Let’s continue that same energy within our communities, and buy from our markets, our shopify and etsy accounts, our restaurants, and our services.
But money isn’t all; support looks different to many people. As long as we continue to uplift each other whether through direct purchase, word of mouth, retweeting, or reposting - we’ll boost and leverage the confidence that is ultimately worth more than money.
#UrbanMoneyNews #BuyBlack
Virtual Meetups & Workshops
February Monthly Meetup: All About Credit
We’ll do some mythbusting, and work through the steps for a credit refresh.
Let's meet up, and talk about money! In a safe space, we'll get back to basics to help you find financial peace. Register today, for free, space is limited!
Financial Counseling
Seeking guidance is a great first step to manifesting financial peace. Schedule your appointment, and let us guide you on your financial journey.
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