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While COVID-19 has caused hundreds of thousands of small businesses across the U.S. to close their doors either temporarily or permanently, Gina Schaefer’s operations have endured. As an owner of several ACE hardware stores in the D.C. area, the 49-year-old entrepreneur’s business was deemed essential—though she’s had to address several challenges along the way. Speaking with The Balance, Schaefer discusses being a co-op, supply chain issues, and adapting her operations to become safer for staff and customers....

When it comes to credit cards, PayPal offers the Extras Mastercard and the Cashback Mastercard. As for not-credit options, the company offers the Prepaid Mastercard and the Cash Mastercard debit card. PayPal Extras Mastercard This card allows you to borrow from PayPal via a credit account with Synchrony Bank. To get the Extras card, you’ll need to qualify, just like you would with any loan or credit card. PayPal will check your credit and ask about income and employment....

Total interest paid: This is how much interest you’ll pay over the full life of the loan. It’ll be split up and included in your monthly payments according to an amortization schedule. Total paid: This is how much you’ll pay back to the lender in total, including interest and the original amount you borrowed. Monthly payment: This is how much you’ll pay each month. Each payment will be split up so that some of it goes toward interest and some goes toward the balance of the loan....

Let’s take a closer look at what Polkadot is and how the Polkadot blockchain works. Keep reading to find out what you need to know if you are considering investing in Polkadot. What Is Polkadot? Polkadot is a blockchain platform that supports a native cryptocurrency, other autonomous cryptocurrencies, and a variety of blockchain projects. Let’s dig into each of these components of the Polkadot network: DOT cryptocurrency: The DOT token is used to facilitate governance over the Polkadot network....

Bankruptcy is often seen as a failing, or subject to moral judgment. But consider the US Constitution, which gives Congress the authority to establish “uniform laws on the subject of bankruptcy throughout the United States. (Article 1, Section 8, Clause 4). Even our founding fathers recognized the need for a mechanism to help people get out from under unmanageable debt and get a fresh start to move forward and become contributing members of society....

Don’t Compete on Price Alone When developing a business plan, owners often make the mistake of setting their pricing strategy to match the lowest-price provider in the market. This approach comes from a cursory understanding of direct competitors, and the assumption that the only way to win business is by having the lowest price. However, having the lowest price is not a strong pricing strategy for small business, as it invites customers to see your product or service as a commodity, and obscures the value of your offering....

Here’s a quick look at the most significant economic indicators of the day and what they tell us. ADP National Employment Report The U.S. private sector added 247,000 jobs in April, about half of what it added in March and the fewest for any month of the pandemic recovery, payroll processing company ADP reported. Economists had expected 390,000. Small businesses are losing the recruiting battle to companies that can pay more, ADP said....

Working out of a home-based office is certainly not for everyone, so it’s important to consider the many advantages and disadvantages before you make it a part of your work process. Here are a few of each to help you decide if working from home is right for you. The Pros of Working from Home There are a number of reasons working from home is a great option for many small business owners....

Businesses that make a profit commonly represent the private sector, while government agencies tend to represent the public sector. Learn how the private and public sectors operate, why they matter, and more. How Do the Public Sector and Private Sector Work? Economies of countries, including the U.S., are divided between public and private sectors (or sections), for the purpose of considering economic activity and each contribution to domestic production (the GDP)....

The Fed can buy as much debt as it wants anytime it wants. Like all other central banks, it has the authority to create credit out of thin air. It has this ability so it can quickly pump liquidity into the economy as needed. The QE1 program purchases lasted from December 2008 until March 2010. There were additional transactions made from April through August 2010 to facilitate the settlement of the initial purchases....

Price Your Home Accurately A reputable listing agent can help you here. Don’t choose your cousin’s sister-in-law who only dabbles in real estate. You’ll fare much better if you select an experienced real estate agent who sells a fair number of listings, preferably in your neighborhood. Your agent will analyze comparable sales and prepare an estimate of value—often called a CMA—for comparative market analysis. It is OK to compare this to the Zestimate on Zillow, but note the variances your agent will point out because your listing agent should have the experience and education to provide you with a more accurate opinion of value....

Befriending the Market The market is not something you beat but something you understand and join when a trend is defined. At the same time, the market is something that can shake you out if you are trying to get too much from it with too little capital. Having the “beating the market” mindset often causes traders to trade too aggressively or to go against trends, which is a sure recipe for disaster....

Documents Related to Tax Deductions The IRS requires businesses (and individuals) to provide records to prove they are entitled to their tax deductions. You also need to have business records that support or prove expenses for deductions in case you are audited. You will need to attempt to reconstruct those lost business records. You’ll want to try to get: Copies of invoices from suppliers, dating back at least one calendar yearPictures or videos of buildings, equipment, and inventoryCopies of business bank statementsThe previous year’s federal, state, and local tax returns...

It’s important to know how the rental car insurance from your credit card, your car insurance, and the rental company all differ from one another. That way, you can avoid any unwelcome financial surprises when you’re cruising around in a rented ride. What Your Car Insurance Covers Generally speaking, if you have car insurance, it extends to rental cars, too. This isn’t a rule, though, so it’s worth checking with your insurer before renting a car....

You’ll work entirely through the Rocket Mortgage platform during your transaction, but Quicken Loans is the company that actually processes and creates the loan behind the scenes. Rocket vs. Quicken: The Same, But Different Quicken Loans is the highest-volume lender in the U.S. when it comes to the total number of loans, originating over 541,000 in 2019, the most recent year for which statistics are available. The company launched Rocket Mortgage in 2015 to serve as its “online retail lending platform,” according to CEO Bill Emerson in a press release in November 2015....

During the course of your career, you may be called upon to write a recommendation letter for a promotion for a colleague or direct report. A positive endorsement can make all the difference, helping the candidate stand apart from a similarly qualified crowd of applicants. What to Include in Your Letter Keep It Positive. When you agree to write a letter for someone, make sure you can give them a glowing recommendation....

The bank said Shari enjoyed an excellent credit rating, with FICOs in the high 800s, and saw that Shari had an untouched cash credit line. Her VISA had an available cash advance limit of $10,000. The bank asked Shari to tap her credit card and give that $10,000 to the bank. If Shari could not afford to repay the VISA, the bank did not care. It didn’t issue her the VISA....

Although a reverse mortgage might sound like free money, it’s actually a loan—which comes with interest and fees. Most reverse mortgages are insured by the Federal Housing Administration (FHA), which requires borrowers to be at least 62 years old and occupy the property as their primary residence, among other criteria. But what happens to your reverse mortgage if you eventually want to sell the home, or if you need to move for medical reasons?...

The truth is that in many cases, you can get by without a credit card. Learn more about when you should get a credit card—and when you might want to wait. Pros and Cons of Getting a Credit Card Pros Explained You’ll build credit history: You must establish a strong credit track record to access other lending products you might need in the future, such as a mortgage or an auto loan....

Both methods of filing have their pros and cons. E-filing is safe, faster, and generally more convenient than paper filing. Filing by mail can be cheaper, though it takes the IRS longer to process refunds. Learn more about choosing how to file your tax return. Advantages of E-Filing E-filing was first introduced in 1986, and it got off to a slow start. A scant number of tax professionals—five of them, according to the IRS—took advantage of this new technology at the time....