Consumers expect smaller gains in income than a year ago, May sentiment survey finds

U.S. consumer sentiment came in weaker than expected on Friday in the final reading of May.
Economy

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Evotec Q1 Net Income Down 51%; Affirms FY18 Outlook – Quick Facts

German drug discovery solutions company Evotec AG (EVTCY.PK, EVOTF.PK) reported that its net income for the first quarter fell 51 percent to 3.46 million euros from 7.10 million euros last year. Earnings per share for the quarter declined to 0.02 euro from 0.05 euros in the year-ago period.
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Protests grip South Africa as introduction of minimum income dubbed ‘poverty wage’ is delayed

Disagreement over a proposed minimum wage in South Africa has led to mass protests and reassurances from the presidency.
Economy

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Morgan Stanley Reports Record Net Income In Q1; Revenues Up 14%

Morgan Stanley (MS) reported first-quarter net income applicable to company of $ 2.7 billion, or $ 1.45 per share, compared to net income of $ 1.9 billion, or $ 1.00 per share, a year ago. Earnings per share excluding intermittent net discrete tax provision/benefit was $ 1.45 compared to $ 1.01, last year. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $ 1.25 for the quarter. Analysts’ estimates typically exclude special items.
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Lufthansa Group 2017 Net Income Rises; Revenues Up 12.4% – Quick Facts

Lufthansa Group (DLAKF, DLAKY) reported that its 2017 net income rose 33.1% to 2.36 billion euros from 1.78 billion euros, previous year. Earnings per share was 5.03 euros compared to 3.81 euros. Adjusted EBIT was 2.97 billion euros, a 69.7 percent year-on-year improvement.
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Thyssenkrupp Q1 Income To Be In Line With Its Guidance – Quick Facts

Thyssenkrupp AG (TYEKF.PK) reported that its income in the first quarter will be in line with the company’s guidance. The company confirmed its full-year targets. In the current fiscal year, Thyssenkrupp aims to increase sales in the low- to mid-single-digit percentage range. The company expects net income to be clearly positive and projects a significant increase in adjusted EBIT from continuing operations to be in a range of 1.8 to 2.0 billion euros from the current level of 1.7 billion euros. The company also expects to bring free cash flow before M&A back to a positive figure.
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Sun Life Financial Expects $200 Mln Charge To Q4 Net Income On U.s. Tax Reform

Sun Life Financial Inc. (SLF, SLF.TO) said that as a result of the recent U.S. tax legislation, it expects the tax expense included in its 2018 underlying net income to decrease by approximately $ 130 million and also expects to incur a charge of $ 200 million to its net income in the fourth quarter.
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Acuity Brands Says Tax Reform Legislation To Positively Impact Net Income

While reporting its first-quarter financial results today, Acuity Brands Inc. (AYI), a provider of indoor and outdoor lighting and energy management solutions, said that the recent passage of the U.S. Tax Cuts and Jobs Act may have a favorable impact on future demand for many end markets served by the company, as positive business sentiment may lead to further investments in facilities and infrastructure in the U.S.
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NYC residents making less than $50K may not have to pay income tax

The Independent Democratic Conference in the state Senate is calling for elimination of New York City’s income tax on residents who make less than $ 50,000. That would affect 2.2 million people — nearly a quarter of the city’s entire population. Married couples would save up to $ 1,456 a year and singles $ 1,060. “This relief will…
Living | New York Post

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If tax cuts produce more disposable income, consumers can put more money towards a home: Realtor

Sam DeBianchi, DeBianchi Real Estate, discusses how the mortgage interest deduction could impact the real estate market in higher-tax states.
Real Estate

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How To Budget On A Roller-Coaster Income

Popular budgeting advice like the 50/30/20 rule — which allows a set percentage of income to necessities, wants and needs — is meaningless for people whose paychecks go up and down.

Freelancers, the self-employed, and those who depend on tips or commissions can have a great-paying month or a bad one, and that leaves them vulnerable. A Federal Reserve report released in May found that nearly a third of U.S. adults had irregular incomes in 2016 — and 40 percent of those struggled to pay bills as a result.

Financial experts’ best advice is to plan ahead as much as possible, using creativity and new tech tools designed for those with irregular incomes. Here are four tips for managing money when your paycheck fluctuates.

1. BUILD AN EMERGENCY FUND

People with sporadic income should save nine months’ worth of expenses in an emergency fund , says Todd Youngdahl, managing partner at Washington Wealth Advisors in Falls Church, Virginia.

That’s more than the standard recommendation of three to six months’ worth. The extra allows you to “dip in to cover expenses in a month that you don’t get paid as much,” Youngdahl says.

It might take time to reach that goal, but research shows that even a small cushion improves financial health. According to a 2016 Urban Institute study , families with fairly low savings levels ($ 250 to $ 749) were still less likely to face eviction, miss bill payments or resort to public benefits than those without savings.

One program to help jump-start a savings habit is SaverLife.org. Earn $ 10 each month that you save at least $ 20, for up to six months.

“Even a little bit can help someone smooth over their income in a month that they earn less,” says Shana Beal, director of communications at Earn, the nonprofit behind the program.

2. BUDGET WHAT YOU SPEND

“When you have irregular income, you must live below your means,” says Mark Kemp, a certified financial planner in Harleysville, Pennsylvania.

Because you don’t know your income for a given month, construct your budget around your baseline spending.

Add up the costs of your necessities, including housing, utilities, food, insurance and transportation, and include a monthly amount for annual bills, such as property taxes. Don’t include extras like restaurant meals or taxi rides, just the minimum amount you need each month. An app that tracks spending, such as Mint or Personal Capital, can help you estimate.

Then find out if last year’s earnings covered this baseline. If not, you might need to trim expenses. And use surpluses from peak months to build your reserve for lean months, says Barbara O’Neill, a certified financial planner in Newton, New Jersey.

3. CREATE A STEADY PAYCHECK

Take control of your cash flow by setting up separate accounts for deposits and spending.

Deposit paychecks into one account. Each month, use it to pay yourself a “salary” that covers expenses. “This creates a steady monthly income that goes into the checking account your expenses are paid from,” says Clayton Shearer, a certified financial planner at A&I Financial Services in the Denver area.

If you tend to receive many small checks each month, and your reserve fund isn’t fully funded yet, try weekly transfers.

4. USE APPS IF YOU NEED AN ADVANCE

If you don’t have an emergency fund, a low-earning month could compel you to use high-interest credit cards or expensive payday loans.

Instead, consider signing up for services such as these that offer cheaper alternatives for short-term cash:

— Active hours: Provides small, no-interest advances — up to $ 100 per day — against direct-deposit paychecks. Cost: An optional “tip” in the amount you choose.

— Dave: Offers no-interest advances until your next paycheck. Warns of upcoming bills or low bank balances to help avoid expensive overdrafts. Cost: $ 1 per month and optional tips.

— Even: Sets aside money from your paycheck if it’s higher than average. When you earn less, Even makes deposits to bring you up to average until you get paid again, with no interest. Cost: Free if your employer offers Even as a benefit, or about $ 3 a week.

Financial experts caution against relying too often on cash advances. But these low-cost services can help you make it through a lean month — and then quickly get back to your monthly budget and savings plan.

This article was provided to The Associated Press by the personal finance website NerdWallet. Jeanne Lee is a writer at NerdWallet.

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(AP Photo/Wilfredo Lee, File)


Life & Style – Black America Web

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The Ultimate List of 14 Ways to Produce Multiple Streams of Income

income

Producing multiple streams of income can have a big impact on your finances. An extra $ 500 per month could go a long way in paying down debt or raising your investment.

Diversifying your income streams is important, especially in today’s tough economy and the unpredictable downturns in markets. You decide how you want to produce the income. Either you ‘do something’ to generate the income, this is active income such as providing a service, or the income is generated without you having to ‘do anything,’ this is passive income such as rental income. Just make sure you do not place all your eggs in one basket.

When I talk about multiple streams of income, I am not insisting that you get a second job to supplement your current income. A second job does not provide you with the flexibility and freedom to increase your income. In fact, it can hurt you when you think about it. You are trading time for money and in the long run, you lose! I want you to create something that will allow you to give yourself a pay raise when you need and want it.  

When evaluating and researching ways to produce income, take the following into consideration:

  • Investment – should require minimal investment.
  • Sustainable – ultimately, something that generates income without you.
  • Scalable – produces substantial amounts of income
  • Flexibility – you call the shots.  

Here’s what an extra $ 500 per month could look like.  

Savings account: If you deposited $ 500 each month for one year with an interest rate of 4.00%, compounded annually, and an initial starting balance of $ 500, your yield will be $ 6,629.22.   

Investment account: Now transfer the amount above from your savings into a 5- year CD with an interest rate of 2%, compounded annually, for five years, your yield will be $ 7,319.99.

Financial freedom: Extra income of $ 500 per month could cover car payments, auto insurance, help pay down credit card debt, or cover some or even all of a mortgage payment. Before saving, research rates, get your kids involved, and have fun with it.   

Small incremental savings can ultimately go a long way. Below are steadfast ideas guaranteed to help you generate multiple streams of income this year.

  1. Sell an e-book

If publishing a book the traditional ways is a long shot, then consider an e-book. An e-book is simple; many people publish them for free, but many sell them as well on Amazon.

  1. Affiliate marketing

If you have a blog or other type of site, you can build affiliate links to different services on the website.

  1. Write a book

A well-written book will undoubtedly rake in some profits for you. Although the process of getting it published is sometimes tedious, it is not entirely impossible. Contrary to what many believe, self-publishing can be easy, fun, invigorating, and life changing!

  1. Begin a little business

Many of the above examples are also small businesses. However, you can start a more traditional kind of business—one that sells a service or product. Consider the one thing you’re good at or the one thing you are constantly complimented on. Before starting, make sure you have all the legal documents in alignment.

  1. Teach a class

If you have excellent skills or knowledge, then consider teaching at a university; make a series of seminars or make your own classes at your business.

  1. Offer consulting or coaching

Instead of teaching a full class, you can coach clients one-on-one.

  1. Start a blog

It may take a while for a blog to earn any money, as with any business, but with consistency and commitment, it will eventually pay off.

  1. Develop a product

A typical way of making money is to transform a service into a product. For example, as a freelancer, you offer a service once and earn money once. However, if you can change your service into a product, you can put it up for sale once and get paid lots of times.

  1. Have multiple clients

If you depend on one main client only, slowly begin branching out to fresh customers.  Build your client list through list building.  

  1. Launch a magazine

You can select a topic, develop content, transform it into a perfect magazine and sell it for a profit.

  1. Expert advice on clarity

The technique here charges for calls from people who want guidance in the topic/field you are knowledgeable in.

  1. Make a membership website and get money

If you can make valuable content, there will almost forever be people willing to pay a monthly fee for membership.

  1. Investments

Stocks, bonds, 401(k)s, annuities, etc., are great ways to earn passive income. Place proceeds in a high-interest savings account or a high-interest checking account to establish your emergency fund account.

  1. Real estate

Real estate is a good way to earn extra income. Real estate investing includes fixing and flipping houses, which requires capital in the form of cash and credit. Speak with seasoned investors and realtors to find out if this passive income strategy is right for you.

Producing additional income is the foundation to building wealth. While earning extra income does take work, the ROI can be enormous and pay off for years to come. Now’s the time to create your plan for building your financial legacy for you and your family.  

 

This article was written by BOSS Network Influencer, Dr. Cozette M. White.

 


Dr. Cozette M. White is an acclaimed author, financial analyst and tax strategist, speaker, and philanthropist. Not to mention the founder and CEO of My Financial Home Enterprises, a financial management firm helping entrepreneurs and organizations develop solutions that fuel business growth and transform products into accelerating profits.  

Learn more about Cozette via her website at http://www.MyFinancialHome.com 

Follow her on Twitter @cozettemwhite

Money – Black Enterprise

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BANCO DO BRASIL: Adjusted Income Grows 47.1% In Q2 To R$ 2,649 Billion

Banco do Brasil reported an adjusted net income of R$ 2.649 billion (US$ 839.91 million) in the second quarter of this year, a 47.1% increase compared to the same period of last year and in line with analysts forecasts.
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What Is Universal Basic Income, and Can It Help Black America?

Universal Basic Income

A German startup is doing something quite revolutionary: It’s giving 85 people enough money to live decently off of for one year—with no strings attached.

The startup is called My Basic Income. Its founder is a proponent of Universal Basic Income (UBI); the idea that the government should provide all people a sufficient level of income to meet their basic needs, whether they already have a means of income or a job.

Phys.org interviewed the founder of My Basic Income, Michael Bohmeyer. He called his startup a “social experiment.”

Bohmeyer turned to crowdfunding to come up with the money needed to provide the income, and over 55,000 donated. Income recipients were chosen during a livestreamed Wheel of Fortune– type event. They receive 1,000 euros (about $ 1,063) per month.

Recipients report positive life changes, since being selected for the experiment. Some of them left jobs that paid minimally and made them miserable. Others went on to start new careers that impassioned them; addressed medical or addiction issues; and provided for children and loved ones.

The idea of UBI is a particularly hot topic, as more jobs are lost to robotics and automation. Advocates say universal income could eliminate poverty, as well as provide other benefits.

Understandably, UBI has many critics. First, many question the arithmetic. A former Obama adviser says the only way UBI could be funded would be by defunding programs already in place for the poor.

Some argue UBI is unhealthy for both society and the human psyche. “Quality of life requires a new way of thinking about work, not government handouts so we can stay home and play video games all day,” says one critic.

Proponents claim these critics are uninformed about how funding for UBI would work. “UBI does not necessarily mean more free money for everyone. To pay for even this modest program, we may need to raise some new taxes even after ridding the tax code of deductions. And, to be clear, eliminating deductions and exemptions is a tax increase on wealthier individuals,” writes Alexander Holt at Quartz.

Those who are pro-UBI also say that such a social net is critical with the rise of  “sharing/gig” economy work, such as driving for Uber. Citizens who are not well equipped to work in task-oriented, sharing services, or who may not be tech-savvy,  are in danger of falling through economic and societal cracks.

Additionally, UBI can be “a way to reward care[givers] and others who carry out unpaid reproduction work in the home, to support artists, enable lifelong learning, or give more autonomy to disabled people,” proposes Open Democracy.

There is a lesson in this for black Americans: Without the struggles of, for instance—staying in a life-sucking job you hate just to pay bills or have medical insurance—you would be able to invest in bringing your dreams to life. Those could be dreams of business ownership; starting an organization or charity; doing community service; or perhaps running for office.

These are investments that could make sweeping changes in African American communities—and all—for the better.

 

 

Money – Black Enterprise

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Etsy Success – How to Make a Full-Time Income Selling Jewelry, Crafts, and Other Handmade Products Online (Mogul Mom Work-At-Home Book Series)

Etsy Success – How to Make a Full-Time Income Selling Jewelry, Crafts, and Other Handmade Products Online (Mogul Mom Work-At-Home Book Series)


New – “Turn Your Passion for Making Handmade Products and Crafts into a Thriving Online Business!”Handmade products are hot! People everywhere love to buy unique, one-of-a-kind items and the good feeling that comes from supporting the creators who made them.Etsy.com is the number one online destination for people wanting to purchase handmade products and crafts. Believe it or not though, simply selling great products on Etsy isn’t enough to be successful. With many talented people selling their

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Etsy Success – How to Make a Full-Time Income Selling Jewelry, Crafts, and Other Handmade Products Online (Mogul Mom Work-at-Home Book Series)

Etsy Success – How to Make a Full-Time Income Selling Jewelry, Crafts, and Other Handmade Products Online (Mogul Mom Work-at-Home Book Series)


“Turn Your Passion for Making Handmade Products and Crafts into a Thriving Online Business!” Handmade products are hot! People everywhere love to buy unique, one-of-a-kind items and the good feeling that comes from supporting the creators who made them. Etsy.com is the number one online destination for people wanting to purchase handmade products and crafts. Believe it or not though, simply selling great products on Etsy isn’t enough to be successful. With many talented people selling their items there, it’s easy to get lost in the crowd. But here’s the good news… There are people making good money on Etsy and if you want to be one of them, this book will help you. It contains a “marketing plan” designed just for you, with step-by-step instruction that will show you exactly what to do in order to have a successful, thriving Etsy business. Do you make any of the following items? •Soap •Jewelry •Clothing •Art •Candles •Beauty Products If so, you want this book! It contains everything you need to know about making money on Etsy. You’ll take your passion from a “hobby” in the corner of your living room to a real business, with customers from around the world. Not on Etsy yet? Don’t worry! This book will show you how to set up an eye-catching store in just minutes! Already on Etsy? Get ready to increase your sales! Running an online store on Etsy is the perfect job opportunity for mothers, since you can run the entire business from your home, spend more time with your children, be your own boss, and make a great income doing something you love! If you’re ready to make money on Etsy, get this book today.

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