Here’s why women’s money decisions will shape the future for U.S.

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The rising economic power of women in this country is one of the most significant financial shifts of recent decades. The bottom line: Women are generating and managing an increasing amount of wealth in the U.S.

Today, women control more than $10 trillion (about 33%) of total U.S. household financial assets. Meanwhile, an unprecedented amount of assets will shift into the hands of U.S. women over the next three to five years, representing $30 trillion by the end of the decade. Why? Because as men pass away, they will leave control of these assets to their female spouses, who tend to be both younger and to live longer.

This is a wealth transfer of such magnitude that it approaches the annual gross domestic product of the U.S.

“This is a huge transfer of wealth in and of itself but, because women traditionally outlive men, women stand to inherit most of it,” said certified financial planner Marguerita Cheng, CEO of Blue Ocean Global Wealth in Gaithersburg, Maryland. “As more and more women have a say in significant financial decisions, it’s easy to see they’re not adhering to business as usual.”

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Why is this a big deal and why should you care?

If you are a brand-name consumer products company, a financial services company, or are in the business of selling real estate, for example, women will be making the majority of these decisions in the years ahead. So attracting and retaining female customers will be a critical growth imperative for your business. To succeed, business of all types will need to truly understand women’s needs, preferences and behaviors when it comes to spending and managing their money.

Women continue to make more financial decisions on behalf of the household and more women are also turning to the investing decisions. In fact, women are leading the field when it comes to Environmental, Social and Corporate Governance investing, according to a recent article in Fortune magazine.

In general, a higher percentage of women are interested in ESG investing than men, says CFP Cathy Curtis, CEO of Curtis Financial Planning in Oakland, California. A Calvert/Investment News study showed that usage of ESG funds are up 25% year over year and the trend of ESG investing is more pronounced in women, with 53% doing so currently.

“The Covid-19 pandemic has spotlighted our financial and health-care systems’ inequities as more disadvantaged and poor people are losing their jobs and lives,” Curtis said. “As a result, where the environment was the main focus of ESG investors, social and governance have become critical and are driving the inflows into ESG products.

“As women inherit more wealth from their parents and spouses and sometimes make the investment decisions for the first time in their lives, I predict more money will flow into ESG

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‘Tampa Gift Card King’ gets prison time for money laundering

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Two weeks after being sentenced to federal prison for a lucrative fraud, “Tampa Gift Card King” Stephen McIntyre was allowed to travel from Florida to South Carolina to spend Thanksgiving with his fiancee — a convicted co-conspirator in the scheme.

Court documents say Stephen McIntyre, 51, should be returning to his home Monday from spending Thanksgiving Weekend with Brandy Fuller and her family while the COVID-19 pandemic kept many Americans from their usual family gatherings. The CDC recommended against traveling for Thanksgiving.

McIntyre’s scheduled to start his five-year, three-month sentence for conspiracy to commit money laundering in February. Fuller’s started her three-year probation for her role.

McIntyre’s Motion to Permit Travel, filed Monday, said, “This event is scheduled as a Thanksgiving celebration for the family. The parents of Miss Fuller are elderly and in poor health, and the family is attempting to celebrate what may be the final family holiday function where they all can be present together.”

The motion argued McIntyre wasn’t a flight risk, had been compliant with PreTrial Services since posting $250,000 bond in April 2019 and hadn’t been arrested or missed any court appearances.

Tampa federal court Judge Mary Scriven granted the motion on Tuesday.

“Gift Card King” scheme

Gift card wheeling, dealing but also stealing earned McIntyre $10 million in gross revenue, of which between $550,000 and $1.5 million could be counted as fraudulent revenue, his guilty plea admitted.

McIntyre paid cash for merchandise cards or gift cards with money left on them, the sale price being a percentage of what was left on the card. Then, they’d sell the cards online or conduct “other illcit transactions involving the cards.”

The Tampa Gift Card King Facebook page advertises, “Need Cash??? I purchase gift cards and store credits. Over 2000 brands accepted. No cards accepted that have been obtained by fraudulent or illegal means.”

That statement splits from the truth on the last sentence. McIntyre’s guilty plea admits he and his cronies knew some of the cards came his way from fraud or theft “coached some individual customers what to attest on the required form(s) so that their sales could be accomplished.”

McIntyre flouted Florida law by not registering as a secondhand dealer, which he couldn’t do because he’s had a felony theft conviction on his record; not waiting 15 days between buying a secondhand good and reselling it; not reporting secondhand good buys in the Business Watch International database.

When selling online via Raise.com or CardCash.com, McIntyre and his gang would keep the cards and just send the card number and PIN number.

“Later, they used the card numbers and PINs of these previously sold cards in order to identify residual balances on said cards,” the guilty plea says, “and then they embezzled the residual balances, aggregated the balances, and used the proceeds to purchase new gift cards.”

In doing this, they compiled from $550,000 to $1.5 million. McIntyre used $70,579 to buy a three-bedroom, two-bathroom home on Eskimo Avenue in Tampa and $55,000

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‘Buy Local’ Argument Wrong on How Business and Money Works

A patron holds an iced beverage at a Starbucks coffee store in Pasadena, Calif., July 25, 2013. (Mario Anzuoni/Reuters)

This holiday season, ignore the ‘buy-small/buy-local’ nonsense.

It’s the boss-bossiest time of the year, when Americans getting ready to open up their wallets to buy Christmas presents are lectured by illiterate halfwits about where and how to spend their money. The usual demands: Buy local, or buy from small businesses.

This is pure nonsense, and you should feel free to ignore it.

The “buy local” people insist that if you choose, say, your locally owned coffee shop over Starbucks, then the money you spend there will somehow stay in the community, hanging around and providing additional economic benefits. But that isn’t how money works: Most businesses spend most of what they take in and then put the rest in the bank, where it becomes global capital.

And local businesses do not generally spend their money locally — they can’t. I like my local coffee shop, and I am pretty sure that it does not buy its coffee locally, because I do not live in Colombia or Brazil or Vietnam, and it doesn’t buy its to-go cups from a local maker, since it is not in the shadow of a paper-goods factory, etc. Its lease is probably held by an out-of-town entity, along with its loans. Its espresso machine probably came from Italy or Germany, maybe Hong Kong.

For many businesses, the largest expense is personnel. Those local coffee-shop employees aren’t any more likely to spend their income locally than anybody else is, because they will want things like shoes and meat and Netflix rentals that are not made locally — but, to the extent that they do spend that income locally, they are about as likely to do so as a Starbucks employee is. For that matter, you probably have more Starbucks and Amazon shareholders in your neighborhood than you do independent coffee-shop proprietors or owners of small local stores. Shareholders are your neighbors, too.

But even if money did work the way the boobs say it does, money isn’t wealth — it is a record-keeping system that enables easy exchange and helps us to store value. What makes our communities, our country, and our species more prosperous isn’t trying to fence in money locally through campaigns of unsolicited advice, but the division of labor and specialization, which allows us to produce more with fewer resources. Sometimes, that favors big businesses, although many big businesses are in effect something more like a big network of smaller businesses: There aren’t a lot of mom-and-pop automobile companies, but General Motors doesn’t make most of the components that go into a Corvette — smaller companies do. There’s room in the market for both my local coffee shop and Starbucks for the same reason there’s room in the market for both Burger King and the French Laundry.

(I think the world would have been less mad at California governor Gavin Newsom if he

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Failing to Arrange Dowry Money for Daughter’s Wedding, Haryana Man Commits Suicide



a cake sitting on top of a table: Representational Image


© Rajashree Seal | India.com News Desk
Representational Image


New Delhi: Failing to arrange last minute dowry cash money for his daughter’s wedding, a 50-year-old man has committed suicide in Rajasthan’s Alwar. The 50-year-old man who hailed from Haryana’s Rewari district went to Alwar to meet his sister and brother-in-law was found hanging on Saturday morning, said a report. The girl’s father who has been identified as Kailash Rajput, embraced his death by writing a suicide note on the wedding card after the groom’s family demanded a dowry of around Rs 30 lakh from him, just few days before the wedding that was scheduled to happen on November 25. Speaking to Times of India, a police official said, “The deceased left behind a suicide note in which he wrote that while he had arranged around Rs 13 lakh for the wedding. However, he was not able to arrange Rs 11 lakh to meet the demands of the would be in-laws. He has named the would be groom and in-laws in the note claiming that they were not budging from their demands and he was worried that he would be humiliated in society if he was unable to pay the dowry.” In his suicide note, the man also appealed to the state government to take strict action against the people who forced him to to take this step. The body was handed over to the family after post-mortem on Saturday, said local police.

An investigation have also been initiated in this matter that happened under the jurisdiction of the Rajasthan police, but, it is likely that the case would be transferred to Haryana police.

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Buying local ‘could double amount of money’ that stays in your community

Buying more of your Christmas dinner ingredients, presents and festive decorations from neighbourhood retailers could double the amount of money that remains in your local community.

For every £10 spent with a local business, more than one third of that amount (£3.80) stays within the area, research has found.

Shoppers ‘willing to spend half their money locally’

Currently the average British shopper spends just over one fifth of their money, or £2.26 of every £10, locally, according to figures compiled by the Centre for Economic & Business Research (Cebr) for Visa. Of this, 86p is retained in the local area.

However, when consumers were surveyed about their shopping habits, they revealed that, on average, they would be willing to spend £4.98 of every £10 locally. Stepping up their local spending to this degree would allow £1.90 to remain in the local area, analysts believe.

People living in London spend the most locally, handing over £3.05 of every £10 to independent businesses near them, while those in Wales and South West England spend the least, with £1.90 of every £10 going to a business in their community, according to the findings.

Contributing to community

Over half (54%) of 2,000 consumers polled said it was important to them to shop locally because they know how much their custom means, while 43% reported experiencing a boost of happiness when they support local shopkeepers.

Nearly half (49%) of respondents believe that local businesses contribute to their community by employing local people while over a third say they make the area a nice place to live and keep the neighbourhood vibrant and buzzing. The majority of those polled (62%) said they were worried independent businesses would not survive if their local community did not back them.

Avoiding shops

Independent retailers across a variety of sectors have struggled to stay afloat this year, with national and regional lockdowns forcing them to close for months at a time as a result of the Covid-19 pandemic. Even when shops have been open, many people have avoided visiting, preferring to order goods online, often from large chain stores or ecommerce businesses such as Amazon.  

The next month will be a critical period for retailers of all sizes after Black Friday kicks off at the end of this week. What began as a single day in the retail calendar has in recent years mushroomed into a weeks-long promotional event for many businesses. The England-wide lockdown, which will not be lifted until 2 December, and UK-wide Covid restrictions, are expected to drive shoppers online in greater numbers than ever before during the crucial shopping period.

“Under the lockdown in England, all products bar those available in essential stores will need to be purchased online, so online spend will undoubtedly increase substantially,” said Diane Wehrle, insights director at retail data firm Springboard.

“For bricks-and-mortar stores, particularly

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How you can get money back from gift cards if a business has closed in Washington

There is a Washington state law that might help you get some money back from gift cards to businesses that are now closed, but it’s not a guarantee.

SEATTLE — If you’ve ever bought or received a gift card from a business that has since shut down, you might be wondering if it’s possible to get any of the money back.

In Washington, the answer is yes, thanks to state law, but it’s not a guarantee.

Businesses in Washington are supposed to report any unredeemed gift cards to the state in unclaimed property, and right now, the state is holding millions of dollars in unclaimed gift certificates.

In Washington, all you have to do is send an email with your name, the name of the business, the account number on the gift card, and the amount to the Unclaimed Property Division at [email protected] 

If possible, you should include a picture of the front and back of the gift card in the email.

The state will then let you know if the business reported the unredeemed gift card and if you can get any money back.

While gift cards are wonderful ways to help support businesses when they are not getting a lot of foot traffic, the Better Business Bureau said you shouldn’t hold onto gift cards for long. The best thing to do is to spend the gift cards quickly because nothing is guaranteed.

Click here to see FAQs and answers about unclaimed property from the Washington State Department of Revenue.


Do you have a question or concern about money during the coronavirus pandemic? Email us at [email protected].

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Christmas shopping budget essential says money expert

With most people faced with tighter-than-normal finances this holiday season because of the dramatic 2020, a financial expert is urging holiday shoppers to make a budget before spending cash or using a credit card.

“Creating a budget now is the best way to make sure we don’t overspend for the holidays,” says Bank of America’s Tracey Ousterbeck-Waller.

With a majority of people shopping online and more doing so because of the pandemic, Ousterbeck-Waller says an advantage is price checking.

“A lot more people are shopping online rather than going into the stores and I think what’s really great about that is price checking,” she said, adding that shopping online allows quick comparison of prices for the same or similar items from different retailers.

Related to checking prices, is keeping within your budget Ousterbeck-Waller said.

“When you create that budget, set a spending limit; create a dollar amount and that way you can stick to it,” she advised.

Shopping late in the season can also cause blow a hole in budget planning, she said.

“If you wait until Christmas Eve, how many of us have done that in the past,” she said. “We go out and we start shopping and the gift we normally would have bought for somebody, they are already sold out, so you might end up picking the next best thing, but you might end up spending more.”

She advises getting started now by setting a dollar limit and sticking to it.

Even if not a Bank of America customer, she advised checking out Bank of America’s Better Money Habits website, www.bettermoneyhabits.bankofamerica.com to get access to tools for budgeting and holiday shopping.

Contact Carrier Roper at [email protected]

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Obama says ‘the bling, the women, the money’ in rap music could explain Trump’s increased appeal to some rappers and Black male voters



a close up of a man with a beard looking at the camera: Former US President Barack Obama speaks at a drive-in rally as he campaigns for Democratic presidential candidate former Vice President Joe Biden in Miami, Florida on November 2, 2020. CHANDAN KHANNA/AFP via Getty Images


© CHANDAN KHANNA/AFP via Getty Images
Former US President Barack Obama speaks at a drive-in rally as he campaigns for Democratic presidential candidate former Vice President Joe Biden in Miami, Florida on November 2, 2020. CHANDAN KHANNA/AFP via Getty Images

  • Former President Barack Obama weighed in on President Donald Trump’s improved support in the 2020 election among Black male voters.
  • In an interview with The Atlantic, Obama said Trump’s image in rap music explains some of the appeal.
  • “I have to remind myself that if you listen to rap music, it’s all about the bling, the women, the money,” Obama said.
  • “A lot of rap videos are using the same measures of what it means to be successful as Donald Trump is. Everything is gold-plated. That insinuates itself and seeps into the culture.”
  • Obama added that he was surprised by Trump’s rise, in part, because he doesn’t “watch a lot of TV.”
  • Visit Business Insider’s homepage for more stories.

In an interview with The Atlantic, former President Barack Obama offered a theory on why President Donald Trump improved his support among Black men in the 2020 election compared to 2016.

According to NBC’s exit poll over the past few elections, President-elect Joe Biden received the support of 80% of Black male voters, compared to 82% for Hillary Clinton in 2016 along with 95% and 87% for Obama in 2008 and 2012, respectively.

“It’s interesting—people are writing about the fact that Trump increased his support among Black men [in the 2020 presidential election], and the occasional rapper who supported Trump,” Obama said. “I have to remind myself that if you listen to rap music, it’s all about the bling, the women, the money.”

“A lot of rap videos are using the same measures of what it means to be successful as Donald Trump is,” he continued. “Everything is gold-plated. That insinuates itself and seeps into the culture.”

Recalling discussions with former First Lady Michelle Obama, the former president said their upbringing in middle class backgrounds meant they “weren’t subject day-to-day to the sense that if you don’t have this stuff then you are somehow not worthy.”

“America has always had a caste system—rich and poor, not just racially but economically—but it wasn’t in your face most of the time when I was growing up,” Obama said. “Then you start seeing Lifestyles of the Rich and Famous, that sense that either you’ve got it or you’re a loser. And Donald Trump epitomizes that cultural movement that is deeply ingrained now in American culture.”

Another reason Trump’s rise caught Obama by surprise was his outsize presence on television, particularly stemming from his time hosting NBC’s “The Apprentice.”

“I think that indicates the power of television in the culture that sometimes I miss because I don’t watch a lot of TV,” Obama said. “I certainly don’t watch reality shows.”

“And sometimes I’d miss things that were phenomena. But I thought there was a shift there.”

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Obama says ‘the bling, the women, the money’ padded Trump’s rap image

  • Former President Barack Obama weighed in on President Donald Trump’s improved support in the 2020 election among Black male voters.
  • In an interview with The Atlantic, Obama said Trump’s image in rap music explains some of the appeal.
  • “I have to remind myself that if you listen to rap music, it’s all about the bling, the women, the money,” Obama said.
  • “A lot of rap videos are using the same measures of what it means to be successful as Donald Trump is. Everything is gold-plated. That insinuates itself and seeps into the culture.”
  • Obama added that he was surprised by Trump’s rise, in part, because he doesn’t “watch a lot of TV.”
  • Visit Business Insider’s homepage for more stories.

In an interview with The Atlantic, former President Barack Obama offered a theory on why President Donald Trump improved his support among Black men in the 2020 election compared to 2016.

According to NBC’s exit poll over the past few elections, President-elect Joe Biden received the support of 80% of Black male voters, compared to 82% for Hillary Clinton in 2016 along with 95% and 87% for Obama in 2008 and 2012, respectively.

“It’s interesting—people are writing about the fact that Trump increased his support among Black men [in the 2020 presidential election], and the occasional rapper who supported Trump,” Obama said. “I have to remind myself that if you listen to rap music, it’s all about the bling, the women, the money.”

“A lot of rap videos are using the same measures of what it means to be successful as Donald Trump is,” he continued. “Everything is gold-plated. That insinuates itself and seeps into the culture.”

Recalling discussions with former First Lady Michelle Obama, the former president said their upbringing in middle class backgrounds meant they “weren’t subject day-to-day to the sense that if you don’t have this stuff then you are somehow not worthy.”

“America has always had a caste system—rich and poor, not just racially but economically—but it wasn’t in your face most of the time when I was growing up,” Obama said. “Then you start seeing Lifestyles of the Rich and Famous, that sense that either you’ve got it or you’re a loser. And Donald Trump epitomizes that cultural movement that is deeply ingrained now in American culture.”

Another reason Trump’s rise caught Obama by surprise was his outsize presence on television, particularly stemming from his time hosting NBC’s “The Apprentice.”

“I think that indicates the power of television in the culture that sometimes I miss because I don’t watch a lot of TV,” Obama said. “I certainly don’t watch reality shows.”

“And sometimes I’d miss things that were phenomena. But I thought there was a shift there.”

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Couple Recreates Scenes From ‘Money Heist’ in Pre-Wedding Photoshoot

netflix-money-heist-filipino-wedding-photoshoot

Collage: VICE / Images: Courtesy of Hafid Caballes, PIDOGRAPHY

Nothing says “I love you” quite like a Money Heist-themed pre-wedding photoshoot. Well, at least for this couple in the Philippines.

In the photos, Andrew Rolio, 28, and Inez Jade Quial, 28, are seen in the iconic red jumpsuits and Salvador Dalí masks, carrying fake guns as they recreated scenes from the Netflix drama series. 

The shoot was headed by Filipino photographer Hafid Caballes and took place at the Temple of Leah in Cebu City, Philippines, which resembles the Royal Mint of Spain where show’s heist takes place.

netflix-money-heist-filipino-wedding-photoshoot

Photo: Courtesy of Hafid Caballes, PIDOGRAPHY​​

netflix-money-heist-filipino-wedding-photoshoot

Photo: Courtesy of Hafid Caballes, PIDOGRAPHY​​

netflix-money-heist-filipino-wedding-photoshoot

Photo: Courtesy of Hafid Caballes, PIDOGRAPHY​​

Long before their engagement, the couple knew they wanted to do something different for their pre-wedding photos. 

“I always wanted an out of this world theme. I don’t really like the usual romantic dreamy vibes for a prenup shoot because I think that there will be more of that ‘theme’ during the actual wedding itself,” Roilo told VICE.

In fact, Rolio initially suggested a Bonnie and Clyde theme but Quial wasn’t familiar with the film. 

“One day, while I was watching Netflix, an idea came to mind about having a Netflix-inspired prenup. And of all my favorite Netflix movies and series, Money Heist stood out,” he said. 

The costumes from the series reminded the couple of hazmat suits worn by frontliners in the fight against COVID-19, another reference the couple — both healthcare workers — appreciated. Quial is an OB-GYN in Cebu while Rolio is a critical care unit nurse based in London. They acquired props for the photoshoot with the help of families and friends, while Rolio ordered the costumes from Amazon. 

“Honestly, we initially felt anxious regarding the photoshoot because we didn’t know what to expect and whether or not the team will be able to direct us properly in order to pull off the theme,” Rolio said. 

But he said the team of 18 creatives they hired came prepared with a storyboard to ensure the photos would match up to the scenes as much as possible. 

“What has started as anxiety turned into fun,” he said. 

The couple even made a ‘save the date’ video for their wedding and it looks almost like a trailer for the series.

netflix-money-heist-filipino-wedding-photoshoot

Photo: Courtesy of Hafid Caballes, PIDOGRAPHY​​

netflix-money-heist-filipino-wedding-photoshoot

Photo: Courtesy of Hafid Caballes, PIDOGRAPHY​​

netflix-money-heist-filipino-wedding-photoshoot

Photo: Courtesy of Hafid Caballes, PIDOGRAPHY​​

Waxing poetic about the show he loves, Rolio said, “I think Money Heist is the best example of how love can still bloom amidst adversities.” Talking about couples in the show Rio and Tokyo, and Stockholm and Denver, he added: “Their love flourished in the middle of the heist, in the middle of uncertainty. And like their love story, I can say that our entire wedding is also founded in uncertainty.”

They originally planned their wedding to be on Nov. 11, but due to the pandemic, they weren’t able to process the legal papers in

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