Millennial Cash: Beat your summer time ‘revenge procuring’ debt | Existence

List your debts using a spreadsheet, pencil and paper, or debt settlement app. Enter the balance, the interest rate and the minimum monthly payment. Make sure you consider all forms of debt, such as: B. Buy now and pay for loans later.

Then, look at your income and expenses to see how much money you are putting on debt and where you can cut expenses. For example, if you’re spending more on restaurants than you did six months ago, try reducing that to free up cash to pay off debt.

Next, choose a strategy for the payout. Here are a few common tactics:

– SCHULDSSCHNEEBALL: With that Debt snowballfocus your debt settlement energy on the smallest balance first, while making minimal payments for the rest. Once the smallest debt is dismissed, roll the amount you paid for it to the next smallest debt. As you pay off more debt, the payment amount grows like a snowball until you are out of debt.

– DEBT LAWINS: With this method, you settle the debt with the highest interest rate first. Then, similar to the debt snowball method, once it’s paid off, cascade the payment with the next highest interest rate on your debt.

Planning COVID ‘revenge journey’ this summer season? 7 suggestions to save cash on that long-overdue trip

After a long and sometimes stressful year, Ilyse Rykus and her husband David are very much looking forward to their trip to the Pacific Northwest in August.

The couple travel with David’s parents, who travel to Oregon annually to visit family in the area. All of them have been vaccinated and they are all safe. One of David’s uncles died of COVID-19, which made the trip even more meaningful.

“We never joined them, but given everything that has happened over the past year, we thought it was a good move to be with the family,” said Rykus, who lives in West Palm Beach, Florida.

But the vacation is also an opportunity to relax – Rykus will be 30 years old this summer and will visit places she has never been to during the trip. “My husband and I can’t travel a lot together. When we do, we’ll try to make the best of it,” she said. “It will be exciting to explore with the people I love.”

Like many other Americans, Rykus and her husband have saved up on their travels, and the couple plans to use credit card points they’ve saved for nearly two years to pay for their flights. The hospitality family also helped the couple find deals on hotels.

“It will be exciting to explore with the people I love.”

– Ilyse Rykus

Research shows that this will be the summer of the “vengeance journey”. A survey by Charles Schwab
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found traveling was the top article on people’s spending lists, with 40% of people listing this as something they want to spend money on. Another 24% of people said they would like to take a longer vacation.

These results mirror other research showing just how eager Americans are to take to the streets – or to go to heaven. A study published by the travel website Skyscanner in late April found that more travelers booked trips in May and June of this year than in 2019. Another survey by research company Ipsos
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found that half of Americans planning a trip plan a road trip, while 40% plan short breaks with flights.

Even in a normal year, the warmer months are not always the cheapest to travel. “Summer is always the most expensive time of the year to travel because you have nice weather and students, teachers and parents with children at school who can only travel during these times,” said Scott Keyes, founder of travel website Scotts cheap flights.

However, this is not a normal year. Many people were forced to cancel trips over the past year due to the pandemic, and many of them are sitting on travel credits they are dying to use. Airlines and other tour operators are working to ramp up operations in response to increased demand, but it will take time. And airlines will be cautious about putting more planes back into service to offer more flights in case the pandemic worsens again and demand for travel subsides.

“Summer is always the most expensive travel time of the year.”

– Scott Keyes, founder of Scott’s Cheap Flights travel website

Experts have therefore warned that travel could quickly become expensive this summer. For example, the latest US government report on consumer prices showed a record rise in airfares.

The long-awaited summer vacation doesn’t have to break the bank, however. Here are tips from finance and travel experts on how to save money on your post-pandemic getaways:

Book sooner rather than later

This may seem obvious, but summer is just around the corner. And although last-minute offers can arise, they are not guaranteed. The more time you give yourself researching hotel, flight, and activity prices, the more likely you are to get the best deal possible.

“If you wait until Memorial Day to book your summer flights, the chances of getting something cheap aren’t good at all,” Keyes said. He noted that there are still cheap fares, such as round-trip flights between the US and Athens, Greece, for $ 560.

But waiting too long can cost you. Once you know where and when to go, start monitoring the cost of air travel to that destination so you can spot a good deal and get it quickly.

Note that credit card points and airline miles can soon lose their value

Another reason not to wait: airline miles and credit card points could soon lose their value. With so many people sitting on unused points and miles from last year, airlines have an incentive to reduce their value, said Matt Schulz, chief industry analyst at LendingTree
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“It will likely happen slowly and gradually, but I think it will probably happen. So it is best for consumers to start using the points they have sooner rather than later,” Schulz said.

Do your travel planning in reverse order

When booking a trip, most people first think about where and when they want to go and only start to consider the price at the end of the decision-making process. Instead, Keyes suggests a reverse approach.

“If we put price as the last priority, it’s not surprising that we end up with some pretty expensive flights,” he said. Instead, he recommends figuring out which flights are cheapest from your local airport, then figuring out which destination seems the most attractive, and then figuring out when to travel.

Websites like Skyscanner
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and google
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provide opportunities to explore the wide range of options in this way. Of course, for this strategy to work, people need to be flexible about when to travel.

Enjoy $ 0 change fees while you’re still here

Don’t be afraid to change your travel plans if there’s a better deal. After the pandemic, the vast majority of airlines waived flight change fees to allow people to change their travel plans due to the pandemic. These guidelines still apply to many airlines. So if you see a better price, see if it’s free to switch. All savings will be returned to you in a voucher for future trips, Keyes said.

Make the most of flight vouchers

Nadine Marie Burns, CEO and president of the consulting firm A New Path Financial, and her husband had canceled three trips due to the pandemic. Like many people, they received vouchers for their unused flights. When the trip reopened, Burns began to work himself to put some trips together.

Eventually she called her airline Delta
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and the customer service representative helped her book a first class trip to Reno, Nevada for her and her husband using their e-vouchers and points. “Sometimes putting the puzzle together is a championship when we all seem to have so many different pieces, like e-tickets, points, companion rates and more,” said Burns.

Of course, people need to keep an eye on the fine print of any remaining flight vouchers. Many of the coupons have an expiration date, said Jordan Staab, president of SmarterTravel Media and Airfarewatchdog. In most cases, travelers must book their trips by that date, but can travel after that.

Flight vouchers from canceled trips often have expiration dates.

“A cool trick that we have successfully used is to book a flexible ticket with the voucher. You can change it at a later date if necessary so that you can stay in control beyond the expiration date,” said Staab.

Use reward credit cards wisely

Many people were able to save money and pay off their credit card debt during the pandemic, thereby improving their creditworthiness. Now could be a prime time to take advantage of a reward credit card.

“The credit card space is incredibly competitive right now, and that’s good for consumers looking for deals,” said Schulz. “Issuers know that there is an explosion of pent-up spending ahead and they are making good deals on new cards in the hopes of getting as much of that spending as possible.”

Finding great new credit card sign-up bonuses is easy, but there is a risk: credit cards can cause people to spend beyond their means. Given the high interest rates that credit cards have compared to other loans, it is not worth saving on a loan if you end up running into a large amount of debt. Buyers should try to pay their remaining balance in full on each payment cycle to avoid high interest rates.

Spending more can actually save you money

By spending a little extra money on a trip, you can have peace of mind when your plans change. Do you remember how airlines allow people to change their flights for free? In many cases, this policy does not apply to what are known as “basic economy” fares, which are the cheapest tickets you can buy.

“If you book a few months and then travel internationally, it can often be worth the extra $ 30 or $ 40 as it gives you the flexibility to change your dates,” Keyes said.

With that in mind, travelers should consider investing in travel insurance, especially for international travel, as border entry policies can change dramatically as the pandemic progresses.

“Many credit cards offer at least travel insurance, and that can be helpful,” said Schulz. “However, if you want maximum protection, consider paying a little more for it.”

Consumers spending cash to ‘get revenge’ towards COVID

What is Revenge Shop?

What we earlier referred to as retail therapy has taken on the new nickname revenge shopping as American consumers try to spend some money and make up for lost time during the pandemic.

consumer are ready to come back out and spend some money. And what used to be called “retail therapy” is now called “revenge shopping” as people try to make up for lost time during the pandemic.

Contribute Bodge, a smart shopping expert TrueTrae.comcalled this trend “fascinating”.

“It’s really a phenomenon we’re seeing now that consumers are spending more on getting revenge on COVID,” said Bodge. “They spend more on the things they couldn’t spend on before.”

Bodge said the trend will help businesses of all sizes small businesses – especially those who did not have a significant online presence – will see a huge boost.

“I drove my daughter to the mall the other day and it was like Christmas – the parking lot was full,” she said. “And so I really got the feeling that people were really out to get out there and see other people and buy things.”

The National Retail Federation predicts consumer spending will increase by at least 6.5% year over year in 2021.

Soulmates turns Black Mirror-style concept into a ridiculous revenge story

Did you ever think you married the wrong person? You love her, of course, but not in the delirious, all-consuming way you imagined when you were both younger and in the early stages of romance.

It has become a marriage of comfort and companionship rather than passion. In the meantime, you know that your ideal partner – your perfect partner who you should rightly be living your life with – must be out there somewhere, perhaps in the same unsatisfactory situation as someone else.

Things could be so much different if only the two of you could meet. Wouldn’t it be great if there was a company that is solely dedicated to bringing people together who are an ideal match? Or maybe it wouldn’t be that great. Maybe it would be disastrous.

This is the requirement of Soul mate (Amazon Prime), made by the US broadcaster AMC. It’s a pretty intriguing concept, ideally suited to an episode of Black Mirror – if you will -.

It’s not a coincidence. Will Bridges, who co-created Soulmates with Brett Goldstein, wrote the Charlie Brookers series. Expanding the idea into a six-part anthology series is a different matter.

The weaknesses of such a narrow field of vision become evident in the first and second episodes of Soulmates, which are the only ones I’ve seen at this point.

About 15 years into the future, a company called Soul Connex discovered “the soul particle” (science is easily run over) and developed a test that could determine with 100 percent accuracy who you should be with most can.

Ideal for singletons looking for “The One”. Not so great, in the first and better of the two episodes, for wife and mother Nikki (Sarah Snook from Succession), whose 10-year marriage to the kind, dutiful, reliable and occasionally a bit boring Franklin (Kingsley Ben-Adir, recently as Barack Obama in The Comey Rule) has settled into cozy stasis.

Everywhere Nikki looks there are happy, loving couples holding hands, cuddling and smooching. Even her smug older brother Peter (Darren Boyd, one of several British actors with decent American accents) has found his perfect wife for life. It doesn’t matter that they keep arguing about stupid things, like who had the most sexual partners. Because they are the ideal couple, explains Peter, they will always sort things out without any consequences.

Nikki’s neighbor and close friend Jennifer (Dracula’s Dolly Wells, wasted in an undeveloped role) admits that she too took the test, found her soulmate, and plans to leave their stable marriage. This is going as well as you would expect from her husband, who tells her he is taking her children away.

Nikki was trying to keep her own FOMO in check. She eventually gives in and books a test, then pulls out at the last moment. She tells Franklin everything, then says to stay together and make their marriage work – although to the objective observer it seemed to work more or less well.

Unfortunately, Franklin reveals that he too has taken a test on the sly and will drop them to start a new life with his true soulmate.

Flash forward a few months and Nikki found a new partner too. As she prepares to take the children home after a weekend with her father, she and Franklin look downright unhappy in their bright new lives. “It is better this way?” Asks Franklin plaintively, which implies the two were soul mates the entire time but didn’t realize it.

Light as the episode feels, it’s a masterpiece compared to the second which is really weak.

David Costabile plays a somewhat creepy-looking college professor whose apparent soulmate (Sonya Cassidy) hacked into his private files and tracked him down, much to his discomfort.

It looks like it’s exploring some interesting avenues at first, before turning into a ridiculously exaggerated revenge story.