The arrival of stimulus funds in people's bank accounts and mailboxes means scammers and thieves will be coming out trying to get all or some of that money.
Whether it's mail thefts or online or phone scams, the stimulus funds have been accompanied by increased cases of fraud and thefts.
The Federal Trade Commission reported an estimated $211 million was lost to scammers and thieves after the first round of stimulus payments.
Many things are taking place:
Financial advisor gives tips for those investing their stimulus money
TYLER, Texas (KLTV) - COVID-19 relief payments are making their way to bank accounts, giving some a much-needed financial boost. Some may use it to catch up on bills, or buy big ticket items, while others are thinking of turning that money into more money.
In the last year between the pandemic and stimulus money going out, financial advisors are seeing savings rates increase from years prior. Senior Financial Advisor Will Goodson said there are a few things to consider before investing your money.
Question of When to Use School Grant Money Sparks Controversy in Madison | Zip06.com
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The Board of Education (BOE) clashed this past week over the injection of a roughly $1.24 million in grant monies set aside for COVID-related educational expenses, with some board members pushing to apply some of that to this year’s school budget as an offset against tax increases, while others argued the full amount should be reserved for the looming and unknown needs of staff and students post-pandemic.
Dear Republicans, Giving Away Money Is Not 'Highly Popular' | RealClearMarkets
Imagine a politician running for local or national office with a promise to shrink economic growth. It’s a waste of words to say that such a politician would face long election odds.
So while it’s a known quantity that assurances of more difficult economic times ahead aren’t political gold, Republican pundits keep acting as though they are. Evidence supporting the previous claim has been the response from GOP and conservative pundits about the $1.9 trillion American Rescue Plan.
This may worth something:
Stimulus checks: Why some couples are getting their money in two payments - CNNPolitics
COVID-19 Reduces Money Talk Stigma Among Couples, Encouraging Communication
Despite the financial setbacks, the survey showed that couples have become more open with each other when it comes to money. Historically a somewhat taboo topic, talking about finances with your partner is often uncomfortable or leads to arguments. Many just avoid these talks all together. However, since the pandemic hit, 52% say they have found it easier to talk about money with their partner.
While there are more conversations around money, interestingly there is less fighting. Mike Kinane, Head of Consumer Deposits, Products and Payments at TD Bank says this is partly due to the lack of financial secrets kept during COVID-19. "How can you keep secrets when we're all locked up in our houses for a year and can't spend money? It's harder to hide these financial secrets, which leads to less arguing and more open communication.
Mobile Money Accounts Grow To 1.2 Billion In 2020, According To The GSMA
"We see that mobile money is a powerful tool for expanding the financial inclusion of women in low- and middle-income countries," said John Giusti , the GSMA's Chief Regulatory Officer. "This year's report, however, found that across markets women are still 33 per cent less likely than men to have a mobile money account. The GSMA and its members are committed to closing this gender gap by addressing the barriers that prevent women from accessing and using mobile financial services."
'Recasting' is another way, besides refinancing, to save money on your mortgage - The Washington
Low mortgage rates in the past year have led to a surge of refinancing activity, but a refinance isn't the only option for reducing your mortgage payment.
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"If they buy a $600,000 house in Florida, they may want to make a down payment of $200,000 and borrow $400,000 at first," says Weaver. "Then when their home in New York sells, they can take another $200,000 in profit from that sale and to pay down the balance and lower the payment."
Happening on Twitter
Ted Cruz called on Senate Democrats to vote against allowing criminals to receive $1,400 stimulus checks and send t… https://t.co/IpfA4jgza3 DineshDSouza (from United States) Tue Mar 23 21:18:10 +0000 2021
🚨 This evening we are demanding immediate answers from the IRS and Social Security Admin why they're taking so damn… https://t.co/mqkzj7otaU BillPascrell (from Paterson, NJ) Mon Mar 22 23:11:36 +0000 2021
It's weird how when people have less money, poverty rises, and when people have more money, poverty falls. It's alm… https://t.co/JEDAHippZm scottsantens (from New Orleans, LA) Tue Mar 23 23:06:47 +0000 2021
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