Efforts to keep a long-time Rochester Hills grocery appear to be failing.

Wes Malear, Hollywood Markets’ operations director, said company officials want to stay at the current Rochester Hills location. But the company’s lease at the North Hill Plaza Shopping Center, 1495 N Rochester Road, ends Dec. 31.

“This is our home and we are part of the Rochester Hills community and neighborhood families,” he said, adding “so just maybe there is still hope if enough neighbors show support. We have looked in other areas of Rochester and will continue our search, but we have not found another location.”

Meijer has submitted a site plan to add a drive-through pharmacy. Rochester Hills planning commission will host a public hearing on Tuesday evening before voting on the conditional use request. The change would include adding the drive-through on the north side of the building and changing the Tienken Road driveway access for traffic safety.

“The only thing (the commissioners) will weigh in on is the drive-through portion for the pharmacy,” said Nathan Mueller, city spokesman. “The store itself is a permitted use.”

Without the addition of the drive-through, he said, Meijer would not need to get any other approvals from the city, because the site is already approved as a grocery location.

“It’s considered a permitted use,” Mueller said. “Obviously people are welcome to come to the planning commission meeting. I don’t want people to be misled that the planning commission is weighing in on a whole site plan.”

A 20-year Hollywood customer, Sue Evans, told WXYZ-TV she’d heard the store would likely close.

“They’re loyal to the community, they have excellent products, their meat is surpassed by none. When they are loyal to the community, we should be loyal back,” she said, adding that she hopes to see a groundswell of support for Hollywood Markets.

The Rochester Hills location is one place where shoppers can buy fresh British bangers sausages.

The city cannot compel the shopping center’s owner to extend a lease to a client, nor can it deny a permitted use of a property, he said. Each property must meet state and local building safety codes, which is why Meijer’s plan to add the pharmacy drive-through must be approved by the planning commission.

“Cities and townships have master plans to guide permitted and non-permitted uses,” Mueller said. “That’s basically to prevent something like a big-box store from appearing in a neighborhood.”

The site, which anchors the shopping center, is already approved as a grocery, so the city can’t stop Meijer from inhabiting the space, but can make adjustments to drive-through plans as a special use.

Mueller said Rochester Hills isn’t actively recruiting grocery companies to open in the city, but has at least 15 serving the city’s nearly 76,000 residents and people from nearby communities.

Those 15 include:

•  Papa Joe’s, 6900 N. Rochester Road

•  Hollywood Markets, 1495 N. Rochester Road

•  Kroger, 65 S. Livernois Road

•  Fresh Thyme Market, 2025 S. Rochester Road

•  Meijer, 3175 S. Rochester Road

•  Aditya Groceries, 2947 S. Rochester Road

•  Punjab Groceries, 2650 S. Rochester Road

•  Target 2887 S. Rochester Road

•  Aldi, 1106 S. Rochester Road

•  Gordon’s Food Service, 1370 Walton Blvd.

•  Meijer, 3610 Marketplace Circle

•  Walmart, 2500 S Adams Road

•  Whole Foods Market, 2918 Walton Blvd

•  Busch’s Fresh Food Market, 3188 Walton Blvd.

•  Trader Joe’s, 3044 Walton Blvd.

Another grocery, Nino Salvaggio International Marketplace, is just south of the Rochester Hills city limits at 6835 Rochester Road in Troy and is one of several groceries adjacent to the city.

“We do have a lot of good groceries and people patronize the ones they like,” he said. “Both Papa Joe’s and Hollywood have sustained success over the years at that location.”

He said he appreciates that people are so passionate about where they shop and the relationships they build.

Rochester Hills is far from the only community facing questions about the number of groceries. The Detroit News recently reported that Livonia’s city council is grappling with a second Meijer opening in the city of 92,000.

The Schostak & Brothers’ $60 million plan included a 75,000-square-foot Meijer and 102 apartments on a 16.5-acre site at the corner of Seven Mile and Farmington. The city also has a Kroger, Walmart and Target, with a Whole Foods proposed as part of the redevelopment of the former Comerica campus on Six Mile Road.

Plymouth Township was sued by Southfield-based Redico for opposing the development of a Meijer at the site of the former Detroit House of Corrections.

In Farmington Hills, a decision to create a Meijer at an aging strip mall led to a public outcry that the development would shutter Marvelous Marvin’s Mechanical Museum, a popular arcade. The museum’s owner announced last month that a new location has been identified, with details to be announced in the near future.

The planning commission meets at 7 p.m. Tuesday, Sept. 17 at city hall, 1000 Rochester Hills Drive in Rochester Hills.

Rochester Hills grocery may be replaced

Fresh from a trip to Italy, Macomb County restaurateur Joe Vicari is set to open his latest project, the new Andiamo Pasta & Chops, which promises to become one of the most visible tenants at the Mall at Partridge Creek.

Scheduled to open Thursday, the 7,670-square-foot restaurant takes the place of the former Brio Italian Grille space at the front of the open-air shopping center on Hall Road (M-59) east of Garfield Road. Brio closed in January .

At a media event earlier this week, Vicari said the menu will include a mix of Italian cuisine that the Andiamo restaurants are known for along with additional steakhouse options. Diners may choose from meats from a regular menu or all-prime selections, which cost a little more.

“The best thing about this location is there are no true steakhouses in the area,” Vicari said. “We’ll have several grades of quality steaks available at price points we brought down a little bit. We were able to talk to our vendors and they were able to reduce some of their pricing.”

The menu also features Italian breads, free-range chicken, veal, house-made pasta and seafood choices. Entrees will start at at $23 and top out at $155 for 30-day dry-aged tomahawk steak for two. All come with a choice of house salad, soup or a side of angel hair pasta.

The pastas are overseen by Certified Master Chef Daniel Scannell, one of only 72 in the country with that designation, who helps curate menu options that provide fresh, and modern Italian food.

Appetizers include fried calamari, baked clams and char-grilled artichokes and among the side dishes are steakhouse staples such as broccolini, whipped potatoes and steak fries. Steak sauces offered include classic zip sauce, peppercorn cream, pizzaiola, shrimp scampi and blue cheese brulee.

On the drinks side, Andiamo offers 12 signature craft cocktails, with wine-by-the-glass options in the $11-$25 range, and dozens of wine bottles to choose from.

Joe’s wife, Rosealie Vicari, worked with Bloomfield Hills-based designer and architect David Savage to come with a style that brightens the rooms and capitalizes on the tall windows near the mall’s water fountain. She said the eatery becomes a cornerstone of Partridge Creek Mall.

Much of the exterior and interior have been bathed in white with blue trimming. The interior has moved the lounge/bar area to the center of the building, and serves as a focal point, surrounded by two two dining rooms, two banquet spaces for private dining and an outdoor patio.

“I love bars that are at the center of restaurants,” said Rosalie Vicari. “We moved it from the side of the building to the center and now it’s like the pulse of the restaurant. And by moving the bar, we opened access to these windows looking out to the fountain. It’s like having dinner in Italy. This is exactly my vision of the way I wanted it to look.”

The opening comes as the Joe Vicari Restaurant Group celebrates its 35th anniversary. It is the 22nd largest restaurant group in the United States.

The new restaurant also brings another dining option to Partridge Creek, which is in the midst of a revival. Other new tenants expected to open in the next year include a Dick’s Sporting Goods Inc. House of Sport that is planned for a portion of the vacant Nordstrom building and an $11 million Powerhouse gym that will occupy much of the former Carson’s that closed in 2018.

Carmen Spinoso, CEO of Spinoso Real Estate Group, which leases and manages the mall, said in a news release he “cannot wait to break bread” at the family-owned eatery.

“After seeing the build out for this incredible concept, we are eagerly looking forward to the grand opening this week,” Spinoso said in the release.

Andiamo Pasta & Chops is located at the mall at Partridge Creek at 17430 Hall Road. Starting Thursday, it will be open 3-10 p.m.-10 p.m. Monday-Thursday, 3-11 p.m. Friday-Saturday, and 3-9 p.m. Sunday.

Beginning on Monday, Sept. 23, they will be open for lunch at 11:30 a.m., and offer brunch every Sunday from 10 a.m.-3 p.m. with dinner service starting at 4 p.m.

For reservations and more information, visit andiamopastachops.com.

The post MichMash: Michigan minimum wage increase to take effect in February appeared first on WDET 101.9 FM.

Julie Appleby | (TNS) KFF Health News

Suspicions that U.S. consumers’ personal information could be accessed from India led regulators to abruptly bar two large private sector enrollment websites from accessing the Affordable Care Act marketplace in August.

New details about the suspensions come in legal filings made late Friday stemming from an effort by the two to regain access to the Obamacare marketplace before the upcoming ACA open enrollment period, which starts Nov. 1.

The Centers for Medicare & Medicaid Services wrote in a Sept. 2 letter to the companies that they were suspended after the agency identified “a serious lapse in the security posture” that could have led to marketplace data, including consumers’ personal information, being accessed from overseas.

The letter, included in the court filings, also noted that regulators will audit the two companies because they have “reasonable suspicion” that they are players in a separate problem: signing people up for Obamacare coverage — or changing their policies — without the consumers’ permission.

Whether those legal issues will be resolved before the upcoming enrollment period is an open question. Currently, the concerns raised about the companies remain allegations, with none of the legal challenges or the audit close to a ruling or conclusion.

Still, the larger issue of fraudulent ACA enrollment by rogue insurance agents seeking commissions will continue to pose a headache for regulators, with more than 200,000 complaints filed by consumers in the first six months of 2024. And it has become a political problem for the Biden administration. GOP lawmakers blamed the schemes partly on Biden-backed expanded Obamacare premium subsidies.

President Joe Biden has claimed record-breaking enrollment under the ACA as one of his administration’s major accomplishments, and regulators are looking to thwart deceptive enrollment schemes without slowing legitimate sign-ups. In recent weeks they’ve removed at least 200 agents’ access to the federal ACA marketplace, and in July began requiring, in many circumstances, that brokers participate in three-way calls with their clients and the healthcare.gov help center before changes can be finalized.

The CMS letter now adds another layer. It is the first time this year the agency has called out a company over questionable enrollments, saying it suspects “the Speridian Companies” might have “directed its employees and other agents to change Marketplace enrollees’ coverage and enroll insured and uninsured consumers without the enrollees’ consent.”

California-based Speridian Global Holdings owns the companies in question, which include enrollment platform Benefitalign and TrueCoverage, doing business as the Inshura enrollment site. It has a data center in India.

The now-suspended Benefitalign site handled at least 1.2 million applications for ACA coverage during the last open enrollment period, according to court documents, which would rank it among the largest of the private enrollment sites allowed to integrate with healthcare.gov, the federal marketplace.

Previously, CMS had said publicly only that it suspended the websites for “anomalous activity.”

The suspended companies deny any wrongdoing related to enrollment schemes. Spokesperson Catherine Riedel declined comment beyond their court filings.

In late August they filed a complaint against CMS over the suspensions in U.S. District Court for the District of Columbia, seeking a restraining order. They added to that complaint on Sept. 6, calling CMS’ suspension action “lawless.”

On Aug. 8, CMS suspended the two websites from accessing healthcare.gov information.

It did so, according to the Sept. 2 letter, over concerns that some consumer information “is processed and/or stored” in India, citing “suspicions” that the data is “being accessed from outside of the United States.”

That’s a problem, the letter says, because marketplace data must stay in the U.S. to “eliminate the possibility that foreign powers might obtain access.” Additionally, websites approved by CMS to integrate with the federal marketplace cannot transmit data outside of the U.S. or allow access from outside the country, under the terms of agreements such companies sign to get CMS approval to operate.

CMS did not spell out what consumer information might have been included, but ACA applications can contain information including a person’s name, date of birth, address, and detailed household income information.

Speridian companies were suspended, then reinstated, from the marketplace in prior years over other concerns, including problems with false Social Security Numbers submitted with some TrueCoverage ACA applications in 2018, and for a 2023 effort by Benefitalign to access the federal marketplace’s “software testing environment” from India, according to the CMS letter.

In seeking a restraining order against CMS, the companies argue that the agency’s action to suspend them now is arbitrary and capricious and violates its own regulations as well as the due process clause of the Constitution.

The filing calls the Sept. 2 CMS letter explaining the reasons for the suspensions “a post hoc justification” that includes a litany of “‘concerns,’ suspicions,’ ‘allegations.’” The filing also asserts “these intimations of violations are made without evidence of any actual violation.”

The court documents say the suspensions will prevent the companies from participating in the upcoming open enrollment period, harming them and “the thousands of brokers” and “millions of consumers who count on brokers” using those websites to sign up for ACA coverage.

The suspension remains in place, the CMS letter says, partly because its concerns have not been allayed by information provided by the companies, but also while the audit is conducted.

CMS has “reasonable suspicion, based on credible evidence it has considered,” that the companies were involved in enrolling consumers or changing their coverage without specific permission, the letter stated, noting that such allegations are included in a civil lawsuit filed by private sector lawyers in U.S. District Court for the Southern District of Florida.

The firms have previously said the allegations in the civil lawsuit are without merit.

Brokers who have used the suspended websites in the past have other options to enroll clients, including several other websites currently approved to integrate with the federal Obamacare marketplace. Consumers can also go directly to the federal or state ACA websites and enroll themselves or get assistance from call centers associated with those marketplaces.

___

(KFF Health News is a national newsroom that produces in-depth journalism about health issues and is one of the core operating programs of KFF — the independent source for health policy research, polling and journalism.)

©2024 KFF Health News. Distributed by Tribune Content Agency, LLC.

By Eliza Haverstock | NerdWallet

If you’ve been skipping your federal student loan bills, or you have defaulted loans, your time is running out to get back on track without harsh consequences. Two key pandemic-era relief programs are set to expire on Sept. 30: the student loan on-ramp and the Fresh Start program.

Millions of borrowers are benefitting from the on-ramp or Fresh Start — and some may not know it. To check, log into your studentaid.gov account and review your monthly payment history and loan repayment statuses. If you have missed or late payments, you’re on the on-ramp. If you have a loan listed as in default, you’re benefiting from the Fresh Start program.

In either case, you need to act by Sept. 30. Here’s how.

Student loan on-ramp: Make a plan to deal with your bills

The student loan on-ramp began Oct. 1, 2023, and lasts until Sept. 30, 2024. It’s intended as a safety net for the “most vulnerable borrowers,” the White House said last summer.

The program is automatic for all borrowers who miss payments during this time — there is no enrollment process. During the on-ramp, you can’t fall into delinquency or default. Missed payments won’t be reported to credit bureaus.

Roughly 3 million borrowers have taken advantage of the on-ramp and were at least 30 days late on their loans as of June 30, according to Federal Student Aid office data.

If you’ve been skipping payments, make a plan for October. Otherwise, you could face harsh and costly consequences. Once a payment is 270 days late, you will enter student loan default. Debt collectors can garnish your wages and charge hefty fees.

Here are steps to take before the on-ramp expires:

• Check your student loan accounts. Log into studentaid.gov, see how much you owe and update your contact and billing info. Your servicer can answer questions.
• Choose a repayment plan. If you don’t select a repayment plan, you’re automatically enrolled in the standard 10-year repayment plan. For more affordable payments, consider an income-driven repayment (IDR) plan.
• Consider a deferment or forbearance. If you won’t be able to afford payments for the foreseeable future, consider a student loan deferment or forbearance to pause payments for up to three years.

If you want to change repayment plans, note that only two IDR plans are currently available: SAVE and Income-Based Repayment (IBR).

» MORE: How the SAVE lawsuits are impacting IDR enrollment

Fresh Start program: Sign up ASAP to lock in defaulted loan relief

If your federal student loans were in default before the pandemic, take advantage of the Fresh Start program. About 7.5 million borrowers with defaulted loans are eligible.

You must enroll in the program by Sept. 30 to get out of default and lock in benefits, including:

• Loans returned to “current” status on credit reports, and negative default marks removed.
• Access to federal student aid and other government loans, like mortgages.
• Access to flexible repayment plans and potential loan forgiveness.
• Access to short-term relief, like deferment or forbearance.
• Suspension of involuntary debt collection efforts.

If you miss the Sept. 30 deadline and let your loans stay in default, you could face harsh consequences. Debt collectors might garnish your paychecks and tax refunds. You may face steep collections fees. Your credit score could plummet, making it difficult to qualify for future loans, mortgages or even apartment rentals.

You can avoid that headache — and get back on track with an affordable repayment plan — by signing up for the Fresh Start program. Here’s how:

• Submit a Fresh Start request. Fresh Start enrollment is free and can take less than 10 minutes. You can do it online on myeddebt.ed.gov, over the phone by calling 1-800-621-3115 or by sending a letter postmarked by Sept. 30.
• Watch for servicer communication. After you sign up for Fresh Start, the government will transfer your payments from the Default Resolution Group to a federal student loan servicer. Your new servicer will contact you once your loans transfer over.
• Choose a repayment plan after getting out of default. You’ll be automatically placed into the standard 10-year repayment plan, but about 80% of Fresh Start borrowers sign up for an IDR plan, according to the Education Department. Half of Fresh Start borrowers have $0 monthly payments under an IDR plan.

You can apply for an IDR plan within a week or so of your loan transfer.

Eliza Haverstock writes for NerdWallet. Email: ehaverstock@nerdwallet.com. Twitter: @elizahaverstock.

The article Act Now: Two Key Student Debt Relief Programs Expire Sept. 30 originally appeared on NerdWallet.

In 2020, there were 1,108 data compromises. By 2023, the number of compromises reached 3,205, according to the Identity Theft Resource Center.

The most recent high-profile breach: An estimated 2.9 billion Social Security records, or 272 million unique Social Security numbers, were stolen from a Florida company in April.

The numbers have been available for months. What does that mean for consumers?

“When someone assumes your identity with your Social Security number, they could apply for credit cards or a loan; they could open cellphone or other accounts in your name or use the information in other ways,” said Luke Ervin, a San Diego-based financial adviser with UBS Financial Services Inc.

Meghan Land, the executive director of Privacy Rights Clearinghouse, a national privacy nonprofit, said it’s best to assume your data will eventually end up in the wrong hands.

“Data breaches are unfortunately incredibly common,” Land said. “Even if you weren’t a victim in this one, information about you has likely been compromised in another breach. It can only help you to take proactive steps because this isn’t the first breach to compromise SSNs and it won’t be the last.”

The San Diego Union-Tribune asked people working in personal finance and online privacy, as well as representatives of the Internal Revenue Service and the Social Security Administration, how to prevent becoming a victim of fraud if your Social Security number is compromised. Here is their advice.

Check if your Social Security number is out there

There are at least two websites where you can see if your Social Security number was stolen in April’s massive breach. The following two sites do not require you to share your complete SSN. One is npdbreach.com, jointly created by a company named Atlas Privacy and a data rights organization called the Data Dividend Project. It asks for your name, ZIP code, and then either a phone number associated with you or your SSN. A tool from cybersecurity company npd.pentester.com asks for your name, state and birth year. In case of a breach, the site displays results of compromised information that can include street addresses, ZIP codes, phone numbers, birth date and a redacted SSN.

This leads to an important caveat about this second website: Anyone who inputs someone’s full name, state and birth year has a chance at pulling up that person’s addresses, birth day and month, associated phone numbers and/or a partial Social Security number.

Ann Clifton, a press officer with the Social Security Administration, also recommends monitoring your Social Security account.

“A person can check their my Social Security account regularly to see if there is any suspicious activity,” she said. “If a person has not yet applied for benefits, they should not see information about payment amounts on their my Social Security account and will be able to access their Social Security Statement to receive estimates of their future benefits.”

Immediately do the following if your SSN was stolen

Alert financial institutions. “Any time your data is compromised, the first thing to do is alert your financial services providers,” said Ammar Abuyousef, the U.S. Bank branch banking market leader for San Diego. “Whether it’s for a credit card or a checking and savings account, you can freeze your accounts before any bad actors are able to access or drain them.”

Get credit reports. “You should obtain a copy of your credit report from the three major credit bureaus (TransUnion, Equifax and Experian) to review for errors or possible fraudulent accounts and freeze your credit file — both steps are free,” said Land, with Privacy Rights Clearinghouse.

Free credit reports are available at annualcreditreport.com.

Alert authorities. “You can also consider filing a police report so that you have the information on file if you should encounter problems in the future,” said UBS’s Ervin.

Clifton, with the SSA, added that it’s good to ask for a copy of that report as proof. “It’s also a good idea to contact the Federal Trade Commission at www.idtheft.gov, or call 1-877-IDTHEFT (1-877-438-4338); TTY 1-866-653-4261,” she said.

Clifton also recommended informing the fraud unit at any one of the three consumer reporting companies. “The company you call is required to contact the other two,” she said. Here are their phone numbers: Equifax: 1 (800) 525-6285, Trans Union: 1 (800) 680-7289, Experian: 1 (888) 397-3742.

Fraud alert or credit freeze?

“A credit freeze is more effective than a fraud alert when it comes to preventing criminals from opening new accounts with your information,” Ervin said. “When a credit file is frozen, a creditor can’t access your report to evaluate you for a new account — meaning neither you nor a criminal can open a new credit account without unfreezing the file.

“By contrast, a fraud alert requires a business to verify your identity before opening a credit account under your name. Depending on how the business verifies your identity, a criminal with access to enough information about you might still be able to open an account,” he added.

Land, with Privacy Rights Clearinghouse, said doing both is another option. “You don’t have to choose between the two and both are free,” she said. However, she added, one might be more convenient, depending on circumstances.

“For instance,” Land said, “you must contact each of the three credit bureaus … to place a freeze, but a freeze will remain in place until you lift it. If you plan to open new credit accounts you must lift a freeze and then replace it each time you open a new account. To place a fraud alert, you only need to contact one credit bureau and it will alert the other two. You will not need to lift the alert to obtain new credit accounts, but you will need to renew the fraud alert on a regular basis (this can vary depending on the type of alert you use).”

Federal tax implications of a stolen SSN

For federal tax purposes, Raphael Tulino, a San Diego-based spokesman for the Internal Revenue Service, recommended reading the agency’s Taxpayer guide to identity theft. It’s less than 400 words and has links, resources and tips.

One tip: Beware if “You get a letter from the IRS inquiring about a suspicious tax return that you did not file. You can’t e-file your tax return because of a duplicate Social Security number. … You get an IRS notice that an online account has been created in your name.”

You can also apply for an IP PIN, or Identity Protection Personal Identification Number. This six-digit number adds another layer of protection by preventing someone else from filing a tax return using your Social Security number or Individual Taxpayer Identification Number (ITIN).

“If our records show that you were a victim of identity theft, you will automatically be enrolled into the IP PIN program,” the agency says. More on IP PINs at this FAQ.

If you think you’re a victim of tax-related identity theft — “when someone uses a taxpayer’s stolen Social Security number (SSN) to file a tax return claiming a fraudulent refund,” the agency says — you can submit Form 14039, Identity Theft Affidavit, online. You can also print a Form 14039 PDF and send it to the IRS.

In most cases, that affidavit isn’t necessary, because the IRS looks for suspicious tax returns. But here’s when it could make sense, according to the agency: You can’t e-file your tax return because of a duplicate tax return filed using your SSN; you are assigned a Employer Identification Number (EIN) without asking for one; you get a notice from a tax preparation software company that an account was made or closed in your name, and you didn’t do this. More red flags are at the IRS’s ID theft affidavit guide.

Staying safer after a breach

Once your number is out there, scammers have options. There are many ways they can try to get your money or access credit in your name.

Clifton, with the SSA, pointed to two links that explain what can go wrong if your private identity data is out there. One is about Social Security scams (blog.ssa.gov/social-security-and-scam-awareness) and one teaches how a stolen Social Security number can be exploited by thieves (ssa.gov/pubs/EN-05-10064.pdf).

She added, “If a person receives a suspicious call or email that states there is a problem with their Social Security number or account, they should hang up or not respond to the email. People should then go online to oig.ssa.gov to report the scam to Social Security. For more information, go to www.ssa.gov/fraud,” she said.

On a similar note, Land said it is important to “keep an eye out for imposter scams where criminals pretend to be someone you know, a government official or agency, a tech support company, your bank, your utility company or another company you are familiar with. Scammers may try to reach you by phone, email, social media, text message — really any way you can imagine.

“Scams can be convincing and elaborate, so it is helpful to stay up to date on trends and err on the side of caution when it comes to clicking links or providing information,” she said.

Abuyousef, with U.S. Bank, reminded people to change passwords “for any accounts where you have stored personal financial information.” He added, “This would include any banking or investment accounts. These passwords should also be updated regularly and stored in a secure password manager, with many affordable options available.”

Erwin, with UBS, shared these password best practices: “Make sure you are using unique passwords for each account that are 15 characters or longer; don’t use distinguishing information (like your birthday or pet’s name); and consider using a password manager versus saving each to your computer. Also set up multi-factor authentication and/or a biometric login on each account on top of the username/password.”

Two-factor authentication “is one of the easiest proactive steps you can take to protect your accounts,” Land agreed.

Not a victim? Don’t let your guard down

If you ran your name through those two portals and it looks like your SSN hasn’t been compromised, can you keep carrying on as before? That is a rhetorical question with a non-rhetorical answer: No.

“Protecting your identity and financial assets should always be a proactive part of your routine, whether that means daily, weekly or monthly monitoring,” said Abuyousef, with U.S. Bank. “You can do this yourself through your online statements and by ensuring that you protect your data through effective online security measures, such setting up password management tools or multi-factor authentication. It’s also vitally important to teach your children and loved ones to remain vigilant and aware of scam tactics so they can put measures in place to protect themselves.”

Ervin, with UBS, said it’s essential to plan how you’ll secure and recovery key information, before your data gets stolen.

“In developing your approach, consider: What is the data that you want to protect? How do you and your family access data? What could be the impact if there was a confidentiality breach? How can you back up data and protect yourselves?” he said.

Practicing vigilance

Abuyousef, with US. Bank, recommends ongoing monitoring of savings, credit and retirement accounts. Check statements or log in and review the ledger daily.

“If you notice anything suspicious, let your provider know so that they can investigate and take action to protect your account, if needed,” he said.

Ervin, with UBS, shared some pointers for staying safer online, whether or not your SSN is up for grabs:

Be proactive: Back up important files. Educate children about safe practices online and encourage safe social media guidelines.

Hardware: Secure your home and small business network by changing the default administrator password of the device controlling your wireless network. Enable encryption on your Wi-Fi router, preferably WPA2. Don’t plug in suspicious USB devices, such as unknown flash drives.

Software: Only install applications from trusted sources, such as app stores or known websites. Make sure your computer and devices are set up to receive automatic software updates. Delete apps you no longer need or don’t know the origin of and monitor your children’s’ downloading and use of apps. Use your cellphone data plan instead of public Wi-Fi when on the go.

Eyes open: Review your Social Security Administration records. Go through your health claims carefully to ensure you’ve received the care listed.

Opt out: Contact organizations to remove your name from marketing lists, including for the credit reporting bureaus (Experian, TransUnion, Equifax), to prevent unsolicited credit offers.

Be private: Consider what you disclose online. Avoid publishing that you are traveling or including personal information such as your birthday/year or mother’s maiden name or pets’ names — typically used for security or verification purposes — on social media. Use privacy settings to control who can access your information, and review them regularly. Don’t take online polls and be selective about friend requests from people you might not know.

Be skeptical: Be wary of phishing schemes, which continue to grow; never open unfamiliar attachments or click on unfamiliar links. Ignore emails or text messages that ask you to confirm or provide personal information by replying to the email or message.

Andrew Dehan | (TNS) Bankrate.com

The housing market has an affordability problem. During the pandemic, historically low mortgage rates boosted demand, driving home prices to record highs. After decades of underbuilding, construction labor shortages and rising material costs, the supply shortage continues to push homeownership further out of reach. To afford the typical home today, Americans need at least a six-figure salary, according to a Bankrate study.

While the housing market typically isn’t moved by presidential elections, both Vice President Kamala Harris and former President Donald Trump have weighed in with varying proposals. While these would need approval in Congress to move forward, here’s what we know about their plans so far, and what the experts think.

Affordable housing

Vice President Harris has shared plans for 3 million new housing units over the next four years, spurred by a tax break incentivizing home builders to create more starter homes. She has also proposed up to $25,000 in down payment assistance for eligible first-time homebuyers, along with restrictions on how landlords determine rent increases and limits on tax breaks for institutional investors who buy single-family homes.

It’s unclear if such plans would work. The rent cap, for example, could have unintended consequences, says Mark Hamrick, Washington bureau chief and senior economic analyst for Bankrate.

“Price controls including constraints on rent can have the impact of limiting supply which, in turn, can exacerbate the problem,” Hamrick says. “Who wants to build or own if they’re constrained from setting prices?

Meanwhile, former President Trump has suggested opening tracts of federal land for housing development, removing restrictive regulations on homebuilding and addressing supply chain disruptions.

“Almost 25% of the cost of a newly constructed single-family home is embedded in regulations at all three levels of government,” says Jim Tobin, president and CEO of the National Association of Home Builders (NAHB), which lobbies on behalf of pro-business and pro-housing candidates. For a multifamily unit, that share is closer to 43%.

Though Trump hasn’t yet detailed how he’d reduce regulations, his past tenure could hint at what might come. In his first term, he signed into law the Tax Cuts and Jobs Act (TCJA), which included a lower corporate tax rate and a provision creating Opportunity Zones to encourage investment in lower-income areas.

“Changes in tax policy, if significant, could have a variety of impacts on the economy and the housing market, in particular,” Hamrick says. “A lower corporate tax rate could stimulate housing activity, boost investment and potentially lead to increased housing market activity. Among the potential ripple effects could be a rise in construction, more supply and lower home prices.”

On the flip side, a higher corporate tax rate could have the inverse effect, Hamrick says. Home builders could scale back activity or pass the higher costs onto homebuyers.

“Former President Trump said he wants to lower the C corp rate,” says Bill Kilmer, senior vice president of Legislative and Political Affairs at the Mortgage Bankers Association (MBA), which represents the housing finance industry. “I imagine that, like the Biden budget proposal, Vice President Harris would want to raise the corporate rate as a means of revenue to pay for some other priorities.”

Fannie Mae and Freddie Mac

In his first term, Trump zeroed in on Fannie Mae and Freddie Mac, the two government-sponsored enterprises (GSEs) underpinning the U.S. housing finance system. In the wake of the 2008 housing crisis, Fannie and Freddie were placed under government conservatorship to help stabilize the market.

Trump has advocated for taking the GSEs out of conservatorship, which could lead to more competition — in other words, more options — in the mortgage market and minimize taxpayer exposure, Kilmer of the MBA says.

It could also raise mortgage costs, says Chen Zhao, senior manager of Economics at real estate brokerage Redfin.

“When Fannie and Freddie were in trouble, there was this question of, ‘Is there an applied guarantee from the federal government for these mortgage-backed securities (MBS)?’ And the answer turned out to be yes, because the government basically just took them over,” Zhao says. “But once you introduce that question mark about whether or not the MBS are guaranteed, it means that rates have to trade for a little bit higher in order to account for that additional risk.”

For her part, Harris has pointed to a 2015 Moody’s study that found privatizing Fannie and Freddie would add approximately $1,200 a year to the cost of a typical mortgage. ​​

“(Harris) really wants (the GSEs) as permanent, sponsored entities with those professional charters to lean in more to the mission side of their charter and their affordable housing mandate,” Kilmer says. “Not just their goals, but also sort of what they can be doing to increase supply and affordability.”

Immigration

Trump has indicated that, if reelected, he plans to deport millions of undocumented immigrants — a move his campaign has said would help lower housing costs.

Yet, approximately 20% of the construction labor force — residential and otherwise — is immigrant labor, according to Tobin of the NAHB.

“The construction industry has struggled with lack of labor supply for years,” Hamrick says.

“The thing about the recent wave of immigrants is that they don’t demand a lot of housing, actually, because they are either housed in public housing or they’re housing with relatives or friends,” Zhao says. “So, there’s not a lot of net housing demand that’s being added.”

Harris has shifted her stance on immigration — circling back to investing in the southern border wall — but continues to oppose mass deportations. During the Democratic National Convention in August, Democrats touted solutions to expanding legal entry and paths to citizenship.

“We’ve got to find a way to create a visa system for immigrants who want to work in the construction sector, to come into this country under a visa and work in our sector,” Tobin says. “We’re hopeful that the next President of the United States will lead into that and solve that problem.”

Interest rates

Trump has also suggested he would lower interest rates if reelected — but the Federal Reserve, not the president, sets monetary policy, and the Fed operates independently of who sits in the Oval Office.

“History has shown that in countries where politics infects monetary policy, it is less effective,” Hamrick says. “Translated, that means there’s a higher risk of inflation when heads of state or government try to muscle their central banks.”

Harris has said she wouldn’t interfere with the Fed, but rather focus on lowering costs.

To that end, mortgage rates have already started retreating, and forecasters expect them to continue cooling into 2025.

“Rates probably are coming down on their own anyways,” Zhao says.

Tariffs and trade

In his first term, Trump imposed a series of tariffs to restrict foreign trade, particularly with China, including on building materials like steel and aluminum. Many of these tariffs are still in place today.

Harris hasn’t said much on trade to date, but it’s unlikely the U.S. would return to the pre-Trump era of free trade.

If elected to a second term, Trump has said he’d impose further tariffs, including a 10% to 20% tax on all imports, and up to a 60% tax on imports from China. That would add to inflation, according to a recent Goldman Sachs report.

“It is well documented that if you increase tariffs, you basically increase prices. So that has a big inflationary impact,” Zhao says.

While housing costs tend to outpace inflation, higher prices overall make it harder for Americans to afford everyday expenses and set aside savings, such as for a down payment on a home.

“Abnormally high inflation does what inflation tends to do, which is to make prices go higher, robs purchasing power and would ultimately coincide with rising or higher interest rates,” Hamrick says. “Does that sound familiar? It should because that’s what we experienced in recent years. Central banks, like our own Federal Reserve, raise benchmark rates in response to high inflation. That ultimately catches up to mortgage rates and typically slows the broader economy.”

(Visit Bankrate online at bankrate.com.)

©2024 Bankrate.com. Distributed by Tribune Content Agency, LLC.

Two Macomb County automotive plants are part of a major investment plan by Stellantis to expand electric vehicle production.

Stellantis announced on Wednesday it is investing more than $406 million in three Michigan facilities to support its multi-energy strategy and confirmed that the Sterling Heights Assembly Plant will be the company’s first U.S. plant to build a fully electric vehicle.

The Ram 1500 REV, the Company’s first battery-electric light-duty pickup truck launching in late 2024, and the range-extended all-new 2025 Ram 1500 Ramcharger will be built alongside internal combustion engine models in Sterling Heights.

Additional investments will be made to retool the Warren Truck Assembly Plant for production of a future electrified Jeep Wagoneer, and the Dundee Engine Plant for battery tray production and beam machining for the STLA Frame and STLA Large batteries.

“Sterling Heights Assembly has performed an incredible transformation in record time and I want to thank our colleagues for this great achievement,” said Stellantis CEO Carlos Tavares. “Gearing up to build our first-ever Ram electric truck and the range-extended version in Michigan is a meaningful moment of pride for our teams.

“With these investments supporting both Jeep and Ram, we’re adding innovations to our Michigan manufacturing footprint to support a multi-energy approach that is laser-focused on customer demand.”

Last month, Stellantis announced it would lay off up to 2,450 workers at the Warren Truck Assembly Plant beginning in October due to production of the Ram Classic 1500 pickup coming to an end this year. Warren Truck Assembly will reduce shifts at the plant from two to one.

The Ram 1500 Classic is being replaced by the Ram 1500 Tradesman, which is slated to be built at the Sterling Heights Assembly Plant.

With an investment of $235.5 million, the Sterling Heights Assembly Plant will produce the company’s first-ever battery electric 2025 Ram 1500 REV light-duty truck. The Ram 1500 REV was unveiled at the 2023 New York Auto Show and will launch in late 2024. The plant will also build the all-new range-extended 2025 Ram 1500 Ramcharger.

Stellantis partnered with equipment suppliers and contractors to carefully plan and execute the installation of a new conveyor system, new automation for BEV-specific processes, and the retooling and rearrangement of workstations in general assembly to be able to produce ICE, BEV and range-extended models on the same assembly line.

Approximately $97.6 million will be invested at the Warren Truck Assembly Plant for production of a future electrified Jeep Wagoneer, one of four Jeep EVs that will be launched globally by the brand before the end of 2025. Electrified models will be built on the same line as internal combustion engine versions of the Jeep Wagoneer and Wagoneer L as well as the Jeep Grand Wagoneer and Grand Wagoneer L.

With an investment of more than $73 million, the Dundee Engine Plant will be retooled to assemble, weld and test battery trays for the STLA Frame architecture and to machine the front and rear beams for the STLA Large architecture. Production will begin in 2024 and 2026, respectively.

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Teachers and those in other occupations have tasty treats coming their way as part of the Achatz Pie Company’s free slice promotions to be held over the next couple of months.

• Teachers can receive a free slice of pie on Friday, Sept. 6 and can choose from Apple, Pecan, Pumpkin, or Michigan Four Berry.

• Nurses can receive a free slice of pie on Friday, Sept. 27 and can choose from Apple, Pecan, Pumpkin, or Michigan Four Berry.

• First responders can receive a free slice on Friday, Oct. 18 and can choose from Apple, Pecan, Pumpkin, or Michigan Four Berry.

• All customers can receive a free slice of pumpkin pie on Friday, Nov. 1.

• Veterans can receive a free slice of any flavor on Veterans Day, Monday, Nov. 11.

The  offer is good at all Metro Detroit locations, Armada, Chesterfield Township, Shelby Township Beverly Hills, Bloomfield Hills,  Livonia, Madison Heights, Oxford and Troy.  No purchase is required, but for those events (aside from Nov. 1), a valid ID is required for the free slice.

— Macomb Daily staff 

 

 

 

For more than a decade, independent pharmacist Jay Patel has built a close and enduring relationship with his customers, who come to him for help in sickness and in health.

But now there are interlopers: Drug middlemen, companies known as pharmacy benefit managers (PBMs) that influence which medicines can be bought, where to buy them and at what cost.

Patel and other independent pharmacists say their businesses are threatened by the growing influence of these companies, tied to huge health care conglomerates. In a system that is opaque and complex, patients are steered to affiliated pharmacies, such as CVS and mail-order pharmacies, they say. Pharmacists face high fees and low reimbursement rates, so are unable to cover their costs.

That could put Patel — and other locally-owned pharmacists — out of business.

“I want to do what matters to the community. But how long can I sustain this?” said Patel, 48, who owns Savco Pharmacy in San Jose’s West San Carlos neighborhood. “We are at their mercy.”

The PBMs respond that critics base their conclusions on incomplete evidence. According to the trade organization Pharmaceutical Care Management Association, they protect consumers from high drug prices by negotiating for discounts, called rebates, from drug companies.

The disappearance of independent pharmacies could limit consumer choice and health care access — especially in low-income or rural communities.

On Oakland’s Telegraph Avenue, Selam Pharmacy owner Michael Gebru called PBMs “a big black box.” He said “They bill me whatever they want, and can reclaim it. That’s pretty scary. It’s a Wild West.”

In the coastal village of Point Reyes Station, tiny West Marin Pharmacy recently lost its contract with PBM company Express Scripts, used by insurer Cigna and others. Now residents covered by Cigna must get their prescriptions by mail or make a 20-mile drive to find another pharmacy.

“If any of us, our children and families are ill, suffering from fevers, vomiting, diarrhea or worse, we may be forced to drive an hour or more to San Rafael, Novato or Petaluma just to get a prescription filled,” worried pharmacy customer Christine Cordaro of Inverness Park.

PBMs were created in the 1960s as a way to process prescription drug claims. They are responsible for paying pharmacies on behalf of insurance companies, employers and the government. The three largest companies are run by CVS Health, Cigna and UnitedHealth Group, which oversee prescriptions for more than 200 million Americans.

In 2012, the year San Jose pharmacist Patel bought his modest shop, PBMs processed fewer than 50% of prescriptions.

A series of mergers in 2018 created the current system, where health care conglomerates are vertically integrated — owning the insurer, the PBM and pharmacy. The giant health insurer Aetna combined with drug retailer CVS. Another large insurer, Cigna, bought Express Scripts. UnitedHealth built its own PBM.  All three companies operate mail-order pharmacies.

“It’s like they’re taking the money from one pocket, and putting it into the other,” said Zsuzsanna Biran, pharmacist owner of West Marin Pharmacy.

Despite consumer opposition, the FTC approved the mergers.  But now there are concerns about PBMs’ economic leverage. The smaller, locally owned pharmacies feel muscled out of the market.

CVS calls the plight of independent pharmacies “overblown.”

“Contrary to much of the independent pharmacy lobby’s rhetoric, there is no crisis facing independent pharmacies,” CVS said in a statement.

“What the independent pharmacy lobby has long coveted is a world without managed pricing or the competitive pressure from PBM negotiations on behalf of payer clients and consumers,” CVS said.

According to Express Scripts, “If we didn’t provide significant value for our thousands of partners, we wouldn’t exist.”

The PBMs work by negotiating rebates on the “sticker price” of medicines. Some of these savings are shared with insurers and employers.  But a slice is kept by the PBMs. This is enormously profitable.

There is evidence of anticompetitive behavior that illegally distorts the market, hurting consumers and threatening the survival of independent pharmacies, according to new reports by the U.S. Federal Trade Commission and a House Committee on Oversight and Accountability investigation.

PBMs steer patients toward pricier drugs, with “formularies” of preferred medicines that discourage use of lower-priced alternatives, according to the reports, released last month. Because these high-priced drugs command a greater rebate, there’s more profit.

They also sometimes restrict patients’ access to mail-order deliveries, which they own. This cuts out the role of the local pharmacy.

Independent pharmacies say they’re saddled with unnecessary extra fees. When he started his business in 2012, Patel paid $15,000 to $20,000 in PBM fees; this year, his fees could surpass $110,000.

High fees and low reimbursement may discourage pharmacists from filling a prescription. If he loses money on a prescription, “I have two options,” said Patel. “Take the loss, or tell the patient that I cannot fill it.”

“With lower prescription reimbursements in one corner and higher back-end fees in the other, many community pharmacists are thinking about throwing in the towel,”  according to the National Community Pharmacists Association, which represents more than 19,400 independent U.S. pharmacies.

Nearly one-third of independent pharmacy owners may close their stores this year, it predicted.

But in Sacramento and other state capitals, lawmakers are taking a tougher look.

State Sen. Scott Wiener has authored legislation, Senate Bill 966, that would impose new rules on PBMs, better regulating the companies. It would require PBMs to be licensed with the California State Board of Pharmacy and to pass down drug rebates to consumers.

Meanwhile, Patel takes joy in things that don’t cost money — recognizing customers’ names and faces, making birthday phone calls and reminding them to be immunized. Once he provided a cane, for free, to a customer with a gimpy leg.

And there are rewards that are priceless, such as the gifts of fruit, chocolate and home-baked cookies from grateful customers.

“He’s the best,” said customer Rob Souza, picking up a prescription for an ailing wife. “He’s like a small-town pharmacist, always working things out.”

By Tommy Tindall | NerdWallet

Is driving for Uber worth the money? I put this side hustle to the test and nervously drove strangers around northern Maryland for a couple days to find out.

Here’s what I earned:

• I made $143.73 over the course of three Uber “shifts” that totaled roughly 10 hours of active driving.
• I completed 10 trips, put 305 miles on my economical Uber rental and spent $38.80 on one tank of gas.
• Subtract the gas cost from $143.73, and I earned $104.93, or $10.49 an hour.
• Only $3 of my earnings were tips, which I found surprising — because I’m nice!

If you’re wondering, the minimum wage in Maryland handily beats my earnings at $15.00 per hour.

Uber wasn’t a lucrative side hustle for me, but it was an interesting experiment. Here are four things to keep in mind if you’re thinking about trying Uber. And if you want to watch all the ups and downs of this side hustle stress test, here’s a video of my experience.

Give yourself the flexibility to roam

During each of my three Uber “shifts,” I had the idea that I’d do rides relatively close to where I live. But the reality of living in a less populated area is that short, local trips can be few and far between. I found that to be the case even on a Friday evening in my suburban town, located roughly 50 minutes north of Baltimore.

I learned that to earn higher fares, you need to be open to where the Uber trip takes you. I left a lot of money on the table by skipping trips that would end too far from my home base. Uber works by matching riders with nearby drivers. As a driver, you have just a few seconds to accept a ride request when it comes in. I often took too long to decide when considering distance.

Toward the end of that Friday, I caved and accepted a 30-mile trip with a fare of $30.42. But when it was over, it was after 9 p.m. and I was a long way from home.

If I had put in 8-hour shifts and left myself to the mercy of the Uber Driver app, I’d have done better. But if I’m going to be driving all over creation for hours, is Uber a side hustle, or is it a main hustle?

Your car is a taxi cab and your primary tool

All that driving means you need a car that’s up to the task — something affordable, reliable and efficient. My personal vehicle is a gas-guzzler so I used Uber’s car rental service to rent a more appropriate vehicle and make this test more realistic.

But what I realized is a lot of people rent their Uber rides on the regular. If you go this route, you must rent from one of Uber’s approved rental company partners. The rental office I used, a local Hertz that partners with Uber, was packed, and I found the experience to be super hectic. It took three hours to get my car, and the one they gave me was a downgrade from what I reserved in advance.

Because of my experience, I don’t recommend renting if you can avoid it. Uber rentals cost $260 or more per week, so the recurring cost will eat heavily into earnings.

Finding your own affordable used car would likely cost less in the long run, even in cases where you get a car loan with bad credit. For example, let’s say you finance a $20,000 used car for 60 months with a high 19% interest rate. The $518 monthly payment costs less than the $260 a week rate for a rental car.

You will need to factor in insurance (which can include rideshare insurance), maintenance and repairs when comparing costs. You can turn to the Nerds for resources on how to build credit and finance a vehicle you can afford.

Consider a “slush fund” for car costs

I had the pleasure of meeting and riding home with a true Uber pro after I returned my rental car. His name is Greg Hiteshew, and Uber is his post-retirement hustle. He drives most days, says he earns between $1,000 and $1,500 in a typical week and is disciplined about saving money for car costs.

Hiteshew says he sets aside $40 at the end of every day and has done so for years without fail. He says it’s a daily habit that ensures he has enough to cover maintenance and repairs for his current car, and helps him save for the next car.

Consider putting your daily $40 (or whatever you can swing) in a high-yield savings account for the added bonus of interest on top.

Embrace the human side of rideshare

While we chatted on my ride home, Hiteshew opened up about how driving for Uber helped him cope with the loss of his wife. She passed away from cancer 12 years ago, and in the years after, he found himself in a pretty dark and lonely rut. Then one day a friend had a suggestion for a side hustle that would change his life.

“He said, ‘I want you to Uber,’” says Hiteshew, talking about meeting with his friend. The friend hoped it would give him something to keep his mind occupied. Hiteshew thought about it and decided to give it a try a week later.

“It worked,” he says. “Turns out I love it. I really enjoy doing it. I’ve met a lot of nice, nice people.”

I get what he’s talking about. I’ve been working from home for years, and trying Uber put me back into the world. I interacted with different people, visited parts of my area I hadn’t been to and realized how critical a service like Uber is for those who may not be able to afford a car. It reminded me how important it is to communicate with others, strangers even.

Turns out that part of the experience was more valuable than the money. And if I drive for Uber again, I think I learned enough to do better than $10.49 an hour.

Tommy Tindall writes for NerdWallet. Email: ttindall@nerdwallet.com.

The article How Much Does an Uber Driver Make? I Drove for Uber to Find Out originally appeared on NerdWallet.

By René Bennett, Bankrate.com

Many of us have given in to the temptation to buy something we don’t need.

Maybe you were passively scrolling through your social media feed when a sponsored post came up, showcasing the latest tech gadget with glowing reviews. Unable to resist, you clicked the “buy” button for fear of missing out, only to find the excitement faded not long after, leaving you with regret and a dent in your bank account.

What is impulse buying?

Impulse buying is the act of making unplanned purchases on a whim without considering long-term goals and needs. From flashy tech to trendy fashion items, impulse purchases can quickly drain your bank account and hinder your long-term financial goals.

The temptation is further fueled by social media — 48% of social media users have made an impulse purchase, according to Bankrate’s Social Media Survey. And 68% of those said they regretted an impulse purchase they made on social media.

Coupled with the current high-inflation environment, succumbing to impulse purchases can have even more detrimental effects on our savings than usual. But there are ways you can curb impulsive spending habits and focus on more long-term financial goals.

Strategies to stop impulse buying

1. Reflect before purchasing

Getting into the habit of slowing down and reflecting before making an impulse buy can be a big money-saver.

Some questions you should ask yourself:

• Is this item a want or a need?
• Can I afford it without sacrificing something more important?
• Will this bring long-term value and satisfaction?

2. Stick to a shopping list

Before heading to the store or browsing online, make a shopping list of items that you genuinely need. A shopping list provides a clear plan for your shopping trip, eliminating ambiguity and reducing the chances of being swayed by impulses. It also acts as a reminder of your goals and priorities.

You could try using a shopping list app which can help you organize your shopping lists and even share them with friends or family members to streamline your shopping process.

3. Implement the 24-hour rule

When you come across something you’re tempted to buy immediately, give yourself a cooling-off period of 24 hours. Why? The purpose of the 24-hour rule is to create a space between the initial impulse and the actual purchase — often, the initial excitement and compulsion to buy can fade after that time period. By waiting, you give yourself a chance to reconsider the purchase in a more neutral state of mind.

During those 24 hours, you can take the time to research the item’s features, read reviews, compare prices and consider if it aligns with your needs and budget.

4. Unfollow accounts that fuel your temptation

The constant stream of captivating images, flashy ads and influencers promoting products on social media can make it incredibly tempting to click that “buy now” button without a second thought. With just a swipe or a scroll, we’re exposed to a never-ending array of products and services, each promising to improve our lives in some way. But that promise can be deceiving and succumbing to the temptation can lead to financial stress and instability.

One big step you can take to help resist the siren call of impulse buys is to carefully curate your social media feed to prevent yourself from seeing those items in the first place. Unfollow brands and promoters that consistently tempt you. You might even want to remove certain shopping apps from your phone or set time limits for those that have the strongest pull on you. Even a few changes to your social media feed can reduce the constant exposure to shopping triggers and help you save money.

5. Prioritize clear financial goals for long-term gratification

Envision your ideal financial future, and set clear goals. Instead of simply saying you want to save money, set a specific target, such as saving $5,000 within the next year. Once you’ve established goals, you can fit them into your budget to align your spending with what you want to achieve in the long term.

It’s easy to give in to temporary pleasures when we’re surrounded by lures to buy stuff all the time, but reminding yourself of your financial goals and learning to wait can help you find long-term fulfillment. As you achieve smaller milestones toward your goals, reward yourself (within reason) to maintain a positive mindset and reinforce your commitment to the larger goals.

6. Pay with cash

Take the time to budget exactly how much you can spend on your purchases and withdraw cash to spend on those purchases. By using cash, you avoid overspending and impulse purchases.

If you’re used to paying with a card to rack up credit card points or cashback rewards, you’ll lose out on these benefits when you pay with cash. But once you start to gain more discipline by paying with cash, you might be able to transition back to responsible credit card use.

Be aware of signs of impulsive spending habits

The thrill of impulsive buying might not show up right away, but there are some signs to look out for, including:

• You’re spending beyond your means or more than you intended during your purchase.
• You hide purchases from family members or a partner.
• You’re unable to pay bills or save as much as you’d like because of high spending elsewhere.
• You feel guilty or regretful about spending.

Bottom line

By establishing clear financial goals and prioritizing your long-term needs over short-term impulse purchases, you can regain control of your finances and make decisions that support future aspirations. Keep track of how much you’ve saved from cutting back on impulse buying — those savings can go toward a specific savings fund or be invested in a high-yielding certificate of deposit (CD) to earn money back in the form of interest.

Key takeaways

• Impulse buying means purchasing items you did not plan to buy.
• Impulse buying can result in more spending which can lead to less savings and even an increase in debt.
• There are steps you can take to reduce impulse buying, such as prioritizing financial goals and sticking to a shopping list.

---

Visit Bankrate online at bankrate.com.

©2024 Bankrate.com. Distributed by Tribune Content Agency, LLC.

By Julia Carmel
Special to The Washington Post

Jeff West was looking for a change of pace. After decades of running clubs and restaurants in West Hollywood, he left California in search of peace and quiet. He had been to Laguna Beach and Palm Springs, but a new gay-friendly destination was calling to him — twin vacation towns on Lake Michigan with a population of less than 2,500 people.

“I arrived in the winter, and I was so amazed by it,” said West, 67, who grew up in Texas and spent his life in Southern California. “Seeing snow was just so beautiful. I remember feeling my shoulders relax.”

In the summers, West celebrates with friends on the lake. During winter, he’s part of a gay bowling team called the Gutter Queens. Since relocating in 2021, he’s become a real estate agent, spending his days selling other people on the joys of life here.

Saugatuck and its neighboring town, Douglas, form a rainbow bubble within Michigan’s Bible Belt. The area is off the beaten path compared to the coastal hangs that typically attract huge gay crowds, yet its reputation rivals spots like Provincetown and Fire Island.

Drive through the lush, wooded roads in the warmer months and you’ll find a summer camp atmosphere. Hammocks hang outside a popular coffee shop. Kids spill floats purchased from the Douglas Root Beer Barrel out of their parents’ car windows.

Pride flags fly from many businesses and homes, a stark difference from the conservative towns in Western Michigan. At the Dunes Resort, the pool is packed with Speedo-clad gay men all summer long, and disco balls light up the confetti-filled dance floor every weekend.

“This is a small community where we get to enjoy the finer things in life and be comfortable and free,” West said. “It’s paradise for somebody like me to be able to come to a place and just feel so welcome.”

‘Fire Island of the Midwest’

There’s evidence of queer tourists and residents flocking here since the late 19th century, thanks to a long and colorful cast of eclectic artists, eccentric couples and LGBTQ+ entrepreneurs.

According to the Chicago Tribune, it really hit its stride in the 1960s as “a loosey-goosey mecca for pleasure-seekers, gay or straight.” During that era, the town was seen as a party destination for motorcyclists, college kids and queer people from near and far.

Gay travel guides like Bob Damron’s Address Book began ramping up around the same time, dubbing Saugatuck “The Fire Island of the Midwest.” Though a state law prohibited bars from hosting groups of gay people, a local jazz venue called The Blue Tempo became known for serving gay patrons.

Eric Gollannek, executive director of the Saugatuck-Douglas History Center, said the second edition of Bob Damron’s Address Book references The Blue Tempo as a mixed crowd bar and also mentions “an interesting beach” nearby — a strip of sand that stretched from the north side of Saugatuck’s popular Oval Beach to the mouth of the Kalamazoo River.

“They collected $5 to use their beach for the day,” said John Rossi, facilities manager for Ox-Bow School of Art and Artists’ Residency, a program that’s affiliated with the School of the Art Institute of Chicago. “You could sunbathe nude, as long as you were not visible to the public.”

Rossi visited Denison’s Beach, owned by a local Marine businessman named Frank Denison, for the first time in the 1970s. “It was mostly gay, but there was a mix, I could tell,” Rossi said. “Sometimes there were lesbians that frequented it, and occasionally you might see a straight couple.”

Rossi, 68, grew up about 40 miles away in Grand Rapids. He said word-of-mouth recommendations initially brought him to the area.

“There was this network — people told you, you knew what was safe and what wasn’t,” Rossi said. “I mean, there were three bars in Grand Rapids. There were two bars in Lansing you could go to. There were a lot of bars in Detroit we used to go to.”

One of the people who began frequenting The Blue Tempo was Carl Jennings, who was living near Grand Rapids with his wife and children. Though he was closeted at the time, he would spend his weekends tending bar in Saugatuck.

“Back then, you had to live and lead two lives. You had to be a straight person or at least appear to be that way,” Jennings told Michigan Public Radio in 2016. “And then, if you’re fortunate enough to find something like Saugatuck, it just felt warming and accepting.”

Eartha Kitt and ‘tea dances’

The Blue Tempo burned down in 1976, and the loss of that de facto gay space was felt immediately. By the early 1980s, Jennings had come out to his family and found his life partner, Larry Gammons. The couple decided to go into business together.

“We thought, ‘You know what, we should open a gay resort,’” said Gammons, who is now 77.

They originally set their sights on a hotel in Saugatuck, but the Saugatuck town council didn’t want to issue a liquor license to a gay business. After they were turned down for a third time, they found a shuttered roadside motel in Douglas and quickly made an offer on the property. At the first Douglas council meeting, they were able to secure their liquor license.

The Douglas Dunes finally opened in 1981, becoming one of the largest LGBTQ+ resorts in the country.

“May 1 was our grand opening, and we laughed about the fact that the city didn’t know what hit ’em because cars were lined up and down the highway,” Gammons said. “All these people. They just showed up.”

“As you well know, all you’ve got to do is tell a gay person and they spread the news. It spreads like crazy,” he added. “And everybody was so excited about a new big place opening up.”

Gammons and Jennings wanted the resort to be as safe as possible, so they hired their own security to make sure that homophobes wouldn’t get inside to harass patrons. They also made it clear to local police that they’d expect help with external issues. Over the years, the Dunes was targeted by gay bashers, received a bomb threat and even got a threatening call from the Ku Klux Klan.

Nonetheless, the resort was popular and quickly earned a reputation for throwing huge parties with fantastic entertainment.

“The music was so much better at The Dunes than in Grand Rapids,” Rossi said. “I used to talk to the DJs and I’d just tip them a couple bucks, and I’d say, ‘What was that you just played?’”

They booked performers such as Eartha Kitt, Linda Clifford and The Weather Girls (though the latter had to cancel at the last minute) and hosted tea dances every Sunday.

“We turned down Madonna,” Gammons said. “Her brother lived in the Detroit area, and he was gay, and Carl was DJing. She was just a punk rocker, and she went up to (Carl) when he took a little break and said, ‘I’m better than that girl. You know, you ought to put me onstage.’”

“We turned her down, and it was about six, eight months after that, she went to New York and got discovered,” he added.

The parties raged on for decades, with Gammons telling The Chicago Tribune in 1995 that gay tourism was bringing “an estimated $6 million annually to the area.” Gammons and Jennings sold The Douglas Dunes in 1998 to Danny Esterline, Greg Trzybinski and Mike Jones, who renamed it The Dunes Resort.

Though there is a widely cited statistic about Saugatuck-Douglas being home to more than 140 gay-owned and gay-friendly businesses, Jones said in an email that number was “made up” for press releases and websites to “promote the area as gay-friendly.”

Jones, 58, still remembers visiting the Dunes — which he calls a “little Midwestern gay Mecca” — for the first time in 1990.

“It really stood out as like, ‘this isn’t normal.’ Even in Chicago in the late 90s, guys weren’t holding hands walking downtown,” he said. “And you’re really right in the middle of God’s Christian reform, Southwest Michigan. So it’s almost like there’s a bubble over us. You have to remember that the whole world isn’t like this.”

Though Jones had visited many of the popular gay hot spots and swore he’d never live in a small town, he felt differently at the Dunes.

“I’ve been to P-town, and we’ve been to Fire Island, and we’ve been to Key West, and Rehoboth, but they’re just a different attitude,” Jones said. “And I never thought when I was in Fire Island or P-town or Rehoboth, ‘This place is great. I want to live here.’”

Nude bathers in the 1890s

With a bit of close reading, the queer history in Saugatuck and Douglas dates back more than 120 years. Gollannek, the director of the local history center, said there are examples of same-sex relationships from the late 1800s through the 1920s.

Some gay tourism can be attributed to the rise of steamboat travel, which made it easier for visitors to make their way over from Chicago. But the most obvious influence on the area’s emerging queerness was a woman named Elizabeth Bandle.

“She and her family had land in Saugatuck on a farm,” said Shanley Poole, 27, engagement liaison and storyteller for Ox-Bow. “She invited a few students and professors up to do plein-air painting because the lighting there was just gorgeous, and it kind of became a tradition year after year.”

Among the people who visited Bandle Farm in the early 1900s were Frederick Fursman and Walter Marshall Clute, artists from the School of the Art Institute of Chicago who went on to found Ox-Bow in 1910. Since artists and city-dwellers were typically more accepting of queer people at the time, it created an environment that fostered gay tourism.

“In 1910, we have these groups of artists and free-thinking individuals — bohemian folk — coming to a secluded area,” Gollannek said. “Avant-garde artists coming here, painting plein-air, working with nude models, and this becomes a place where there’s some openness.”

The Saugatuck-Douglas History Center has records of LGBTQ+ people living in the area starting in 1917, with interior designer Florence “Dannie” Ely Hunn purchasing a cottage near Saugatuck-Douglas with Mabel “Jims” Warren, her partner of more than 50 years.

Many locals can also recall LGBTQ+ people and couples who they met during their first trips to Saugatuck.

“We have had members within GLBTQ community that go back to probably the ’30s, ’40s, like Mary Kay Bettles,’” Rossi said. “She met her lover at a place over by where the chain ferry is now. It used to be a gas station and an ice cream shop.”

Bettles and her partner, Jean Palmer, were not the kind of couple that flew under the radar.

“Jean would wear ball gowns and fur coats and sit on her really rustic cabin porch during the summertime, and Mary Kay Bettles was like, wearing jean shirts and trousers and loved her dogs,” Poole said. “And (Bettles) would wear a Sheriff’s Badge and kind of dubbed herself the Sheriff of Ox-Bow and would chase people off campus if they didn’t have a reason to be there.”

Some visitors and residents were closeted in their hometowns, but felt safe to live with their partners and express affection in Saugatuck-Douglas. Burr Tillstrom, the Chicago-based puppeteer, kept his private life quiet, but purchased a barn in Saugatuck during the 1960s, which allowed him to loosen up as he spent his summers teaching at Ox-Bow.

Rossi, who’s now 68, also grew up during an era that lacked the language and freedoms that many LGBTQ+ people have today.

“Among artists, there was more of a tolerance for ‘less traditional lifestyles,’ as they would call it,” he said. “The definition of gay didn’t really come until maybe the ’50s or ’60s.”

“Saugatuck was sort of used to the fact that there was an eclectic crowd that came here. They painted, they partied, they spent money,” Rossi said. “And you know, when people spend money, and money’s to be made, money does not have sexual orientation.”

These days, Saugatuck-Douglas is a bit different.

It’s more expensive than it once was, with many hotels charging upward of $500 per night, and the frisky nude beach became a thing of the past when the Land Conservancy of West Michigan purchased Denison’s old land around 2009.

“Now the city owns it,” Gammons said, “so no nudity, no hanky-panky, no liquor, no nothing.”

By Julie Myhre-Nunes | NerdWallet

I had never driven an electric car before, so, naturally, I made sure my first drive covered 500 miles across two states in one day.

Although public opinion on electric cars is still mixed, facts suggest these cars are not a passing fad. Electric vehicle sales in the U.S. topped 1 million for the first time in 2023, quadrupling the figure three years prior. And although demand has slowed, a recent study by industry group Cox Automotive found that more than half of shoppers previously identified as skeptics are poised to enter the EV market in the second half of the decade.

While my first experience with an EV was unusual — I rented one to drive from San Jose, California, to a work event in Las Vegas — it included many situations a prospective buyer would want to consider. If you’re new to EVs or just curious about what a road trip in one is like, here are the lessons I learned.

Maximum range isn’t the actual range

The 2023 Chevy Bolt EV 1LT that I drove has a combined miles-per-gallon equivalent (MPGe) of 120 and a maximum range of 259 miles, according to the U.S. Department of Energy. These totals didn’t translate to real life.

That’s because an electric vehicle’s maximum range doesn’t take into account the use of anything in the car, including air conditioning/heater, the infotainment system, charging your phone or the terrain you’ll drive through. It’s just a measurement of what the 100% charged battery is capable of.

It turns out, though, that an electric battery functions best when it is between 20% and 80% full, because going over that exposes the battery to high voltages that can accelerate degradation over time. (Think of your phone battery and how the battery dies faster as the phone ages.) So if you’re keeping the car’s battery between 20% and 80% most of the time, your battery should last longer.

When I picked up the car, the battery was at 80%, which gave me a minimum of 151 miles. I had mapped out my trip based on where I could find public charging stations, and I knew the first leg of my trip would cover about 150 miles while driving through a mountain pass. Before heading out, I decided to top up the charge to a minimum of 163 miles — but, happily, I got to the first stop with 60 miles left, mostly due to regenerative braking that takes the energy usually wasted with braking and puts it back into the battery.

Charging isn’t always available

I charged the vehicle four times on my trip, using three of the four largest public charging companies: Electrify America, ChargePoint and EVgo. Because all three charging companies function differently, this meant that each time I was figuring out how payments and plugging in worked. It felt like I was 16 again and learning how to fuel up my car for the first time.

Depending on your area, you might have a plethora of charging options or not many at all, and it’s not always predictable. Consider two California cities of comparable size: Fresno with a population of 542,107 and Sacramento with a population of 524,943. When it comes to charging stations with Level 2 and direct-current (DC) fast chargers (the two fastest charging options), Sacramento has more than double the number of chargers in Fresno — 359 and 174, respectively, according to the U.S. Department of Energy. And there’s even more of a divide in different areas across the country.

Keep in mind, too, that not all of those chargers work for every car. Tesla has the largest network of charging stations by far, but while the company is opening up that network to other manufacturers and charge-point operators, that process is very much in-progress. What’s more, at any given station some of the chargers may be out of order (two of the four stations I visited had chargers that weren’t working), and if you get to a station and it’s full, you may have a wait ahead of you.

Charging may take a long time

Enter a drive from San Jose to Vegas in your favorite mapping software and it’ll say it takes about eight hours. My drive required 11 and a half.

Travel time in an EV depends on the vehicle you’re driving and what kind of public chargers you use. DC fast chargers can fill a battery electric vehicle to 80% in as little as 20 minutes or as long as an hour, according to the U.S. Department of Transportation. When I stopped at the ChargePoint in Coalinga, California, I had a minimum of 60 miles left in the battery. I used a DC fast charger for 1 hour, 9 minutes to gain an additional 103 miles.

But most plug-in hybrids and many electric cars are not yet equipped for that type of fast charging, and so realistically it may take longer. I didn’t do any Level 2 charging on my trip, but that technology can charge a battery electric vehicle to 80% in four to 10 hours and a plug-in hybrid in one to two hours.

In total I charged for 3 hours and 6 minutes over my 529-mile drive. For comparison’s sake, I drove a gas-powered car back from Vegas and had to gas up only once for eight minutes.

Charging anxiety is real

Awful. That’s how it feels to be on a long drive in an EV wondering if you’ll make it to the next charging station.

I experienced this twice on my trip — when I reached Mojave, California, with a minimum of 20 miles left, and then pulling into Las Vegas, with a minimum of 32 miles left. Both times I was genuinely concerned that I wouldn’t make it to my next stop. I turned off the air conditioning, stopped listening to my audiobook, unplugged my cell phone and tried to remain positive.

I started to plan out my options for what to do if the car died. I looked up charging stations near me using my phone, but had no luck. Worst case, I was ready to use my AAA membership, although I don’t know what they could do other than tow the vehicle to a charger. Of course, this was first timer’s nerves, but in survey after survey, anxiety over charging and range is among the biggest blockers to widespread EV adoption, with one noting that some 40% of current EV owners still report having a little.

A smartphone is essential for EV drivers

When you’re driving a gas car, there are plenty of opportunities to stop. In fact, you’ll see road signs along the highway to let you know when you can stop. This isn’t something you can rely on in an electric car. Instead, you’ll have to rely on your phone or previously mapped out charging stations. Despite mapping my stops ahead of time, I ended up looking for stops when I started getting charging anxiety.

Additionally, paying for charging may require your cell phone. Gas stations generally have two payment options: at the pump or with an attendant. None of the charging stations I visited had an attendant working, and ChargePoint didn’t let me tap or pay at the plug. Instead, I had to pay using its app, which isn’t ideal if your phone is dead or you can’t get the app to work.

Would I buy an EV after this trip?

Yes, but there are some caveats. I’m fortunate enough to be a two-car household, and if we were to get an electric car, it would replace one of the gas vehicles. I suspect electric cars are great for short trips, like a daily commute, but I’m not ready for one on a longer journey. And if I did buy an electric car, I don’t think I would rely on public charging. I would install a Level 2 charger in my home, which costs extra for the charger and the electrician but gives peace of mind that I could quickly top up every night.

Julie Myhre-Nunes is an editor at NerdWallet. Email: jmyhrenunes@nerdwallet.com.

The article What I Learned From My First EV Road Trip originally appeared on NerdWallet.

The former leader of police forces in Warren and Farmington Hills and current Farmington Hills City Councilman William Dwyer is back working with one of his former officers.

Dwyer and Associates has partnered with Fortis Group LLC, a premier security management firm whose CEO is Brian Bastianelli—a retired command officer from the Farmington Hills Police Department with 26 years of service.

“I am excited to start this new chapter of my life,” said Dwyer. “This partnership provides me the opportunity to continue to provide safety and security, which has been a lifelong mission for me.”

Dwyer, a 23-year veteran commander of the Detroit Police Department’s Narcotics Division, served as Police Chief of Farmington Hills for 23 years and most recently completed a nine-year tenure as Police Commissioner for the City of Warren.

Bastianelli said Dwyer brings “unparalleled experience and leadership” to the collaboration.

“Joining forces with Fortis Group will allow my experience, combined with their highly skilled professionals, to further this mission in new and impactful ways,” Dwyer said.

Fortis Group LLC, is a comprehensive security management firm. Specializing in training, consulting, private investigation, and high-level armed security services, Fortis Group serves both public and private sectors.

“Our company is thrilled to have the opportunity to partner with Dwyer and Associates,” saidBastianelli. “I am personally excited to work again alongside my former Chief.

“This collaboration will enable us to offer a white-glove service that combines Dwyer’s vast experience with our ability to execute with precision.”

By Eliza Haverstock, Kat Tretina | NerdWallet

A typical four-year degree can cost $115,000 or more, according to a 2023 College Board report. Borrowing money to pay for college adds to the total cost, due to interest.

Federal student loan interest rates range from 6.53% for undergraduate borrowers to 9.08% for parents. Private student loans have an even greater range, and the rate you get generally depends on your credit.

To lower the overall cost of your education, consider making optional student loan payments while you’re in school or during your grace period. Even if you can only afford a small amount, every payment you make will decrease the amount of interest that accrues. You could save thousands over the life of your loan.

“Interest begins accruing on most private student loans and some federal student loans as soon as students receive the money, even if payments aren’t due,” says Jill Desjean, senior policy analyst with the National Association of Student Financial Aid Administrators.

Nerdy Tip There is one exception: If you qualify for federal subsidized Direct loans, the government covers the interest charges while you’re in school and during your grace period.

The impact of making student loan payments while in school

Paying even small amounts while you’re in school can add up. Consider this hypothetical example: Let’s say you take out $10,000 your first year of school at 6.53% interest on a 10-year repayment term. Here’s how different repayment amounts impact your total savings:

• If you don’t make in-school payments, you’ll pay $141 per month once your repayment period starts. By the end of your repayment term, you’ll pay a total of $17,653.
• If you pay $25 per month while in-school, you’ll pay $132 per month once your repayment period starts. By the end of your repayment term, you’ll pay a total of $17,161 — a savings of $492.
• If you pay $50 per month while in-school, you’ll pay $116 per month once your repayment period starts. By the end of your repayment term, you’ll pay a total of $16,669 — a savings of $984.
• If you pay $100 per month while in-school, you’ll pay $86 per month once your repayment period starts. By the end of your repayment term, you’ll pay a total of $15,686 — a savings of $1,967.

If you have multiple loans and can’t afford to make payments toward all of them, pay the one with the higher interest rate first, says Amy Lins, vice president of customer success with Money Management International, a non-profit financial education agency.

Making payments will also help you avoid the effects of capitalization — where interest is capitalized and added to your principal balance. Capitalization is typically what people mean when they talk about paying interest on your interest. By making payments while in college, you can cut down on the amount that’s capitalized, preventing your loan balance from ballooning out of control.

When should you skip in-school payments?

Depending on your circumstances, making in-school payments may not make sense. If you fit into one of the following groups, you may be better off deferring your payments until you leave school and your grace period ends.

You can adjust your budget

If you find that you can afford to pay $50 or more per month, you may need to rethink your budget and approach to borrowing.

“While making payments during school can save student loan borrowers money, the cheapest option is to not borrow at all because of loan origination fees,” Desjean says. “If you’re in a position to make payments on your loans during school, examine whether you can use that extra money to pay for school expenses directly without borrowing.”

Similarly, if you borrow money, the school will send you a check for the excess amount after covering your tuition and fees. You can use the cash to cover other education expenses, including your textbooks and meal plan. But according to Robert Farrington, founder of The College Investor, those excess dollars are an opportunity to reduce your debt.

“I would always encourage you to minimize lifestyle expenses,” he says. “Maybe get an extra roommate or anything you can do to save money, and then you can take that refund and put it right towards your student loan. Even if you wait until the end of the semester or the end of the academic year, I would throw it right back at your student loans ahead of time instead of keeping that.”

You’re pursuing loan forgiveness

If you’re planning on working as a teacher or for a non-profit organization, you may qualify for loan forgiveness under Public Service Loan Forgiveness (PSLF), so making extra payments may not make sense.

“If you’re working in public service and qualify for PSLF, you could end up a lot wealthier in life by paying as little as legally allowed on your loan and receiving loan forgiveness,” Farrington says. “If you know what direction you’re taking while in college, you can give yourself a head start.”

You have other debt

Your student loans may not be the only form of debt you have. And if you have other debt with higher rates, it may be financially wise to target the highest-interest debt first.

“If someone has accumulated credit card debt, for example, that’s likely to be at a much higher interest rate [than student loans],” says Lins. “And I would tackle that first to keep that credit card balance from growing.”

You have subsidized federal student loans

If you have subsidized federal student loans, which are available to students with financial need, interest does not accrue while you’re in school or during your six-month grace period. If you have this type of loan, your balance won’t be larger upon leaving school than it was when the loan was disbursed.

However, making in-school payments if you’re able can still help you in the long run, because interest will accrue on a smaller balance once you leave school.

Eliza Haverstock writes for NerdWallet. Email: ehaverstock@nerdwallet.com. Twitter: @elizahaverstock.

The article Want Cheaper College? Pay Interest While in School originally appeared on NerdWallet.

The state’s Cannabis Regulatory Agency is doing away with its semi-annual scheduled inspections at licensed marijuana stores and related facilities, and instead will have its regulation officers conduct surprise visits.

The CRA said the change is expected to “allow more flexibility for scheduling,” and will be more efficient. It will also result in increased knowledge about rules and regulations among the businesses’ employees, according to the CRA.

The new plan for unannounced inspections takes effect on Oct. 1. Prelicensure inspections will still be scheduled.

During an education session held Aug. 22 via Zoom on the transition, Mandi Cooley and Kevin Cook of Michigan’s CRA enforcement division mentioned “flexibility” several times regarding its implementation.

“It will be a flexible process, open to corrective action plans,” Cooley said, adding that business owners will “have some autonomy on how to address” noncompliance issues.

Cook said the CRA doesn’t anticipate a “flawless” transition, and that “accommodations” will be made. He also said a main goal is to have licensees “compliant at all times.”

CRA spokesperson David Harns has a similar take on the new plan.

“This will help increase efficiency and flexibility with scheduling. This transition will instill a need for businesses to further educate employees at all levels – not just their job functions as they do now, but also in compliance and understanding of the business requirements,” he said. “The goal of unannounced inspections is that licensees are compliant at all times and employees have a solid understanding of the regulations surrounding their place of work.”

Inspection costs are covered by licensing fees.

Getting ready

To get ready for the change, the CRA suggests owners of licensed cannabis-related businesses prepare on-site managers and other employees to handle inspections by knowing how to access required items such as employee backgrounds, standard operating procedures, logs, surveillance systems, certifications and METRC information — the state’s seed-to-sale monitoring system — and more. It’s also recommended that owners provide employees with checklists on inspections, available at the CRA website www.michigan.gov/cra.

The CRA is preparing for the new procedure by updating and streamlining inspection checklists, and creating documents to be sent out to businesses after an inspection, Cook said. Also, regulation officers will be reaching out to businesses that are low-staffed and/or open part-time to get a better understanding of when a surprise inspection should happen rather than arriving to find the place closed.

Cooley said the CRA “is working on the process” for what to do if a business isn’t open when an inspector shows up.

 

Further, business owners are urged to ask regulation officers for their CRA-issued photo IDs, and to contact the Regulation Office’s verification hotline with questions. An email blast will be distributing the hotline number only to licensees.

So far, Harns said, scheduled semi-annual inspections have shown a regulation compliance rate of approximately 93 percent, “not accounting for minor deficiencies found during the inspection which were remedied quickly.”

“All business types have their common issues,” he said. “Generally speaking, METRC tracking and identification – along with surveillance equipment issues – tend to be fairly common across the board.”

Non-compliance of “minor issues” such as standard operating procedures and labeling are typically resolved through re-inspection, Harns noted, and unlikely to be subjected to further investigation.

But for “more egregious noncompliance” such as deficiencies in METRC tracking/identification or not keeping 30 calendar days of surveillance footage, for example, an investigation can be expected. Fines or license revocation are possible based on what the investigation reveals, he said.

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Jeff Ostrowski | (TNS) Bankrate.com

The housing market reversed course slightly in July 2024, showing a slight increase in sales for the first time in four months, a new report by the National Association of Realtors (NAR) shows. Sales of existing homes rose 1.3% from last month, which marks an end to four consecutive months of declines but is still 2.5% lower than one year ago. Meanwhile, the median home-sale price dropped slightly from June’s all-time high but still marked the highest median price on record for the month of July, according to NAR Chief Economist Lawrence Yun.

High mortgage rates have contributed to the sluggish sales figures. While rates have thankfully remained below the 8% mark briefly seen in October 2023, they are still hovering between 6.5% and 7%. The average rate on a 30-year fixed-rate loan was 6.62% as of August 21, according to Bankrate’s most recent survey of large lenders. Combined with the historically high prices, that means affordability challenges remain daunting for homebuyers.

“The fate of the housing market in the coming months will be dictated in part by the direction of mortgage rates, as well as the health of the broader economy,” says Mark Hamrick, Bankrate’s senior economic analyst. “The market could benefit from a combination of tailwinds, if they were to develop and are sustained.”

Existing-home sales finally inch upward

The count of existing-home sales includes all completed resales, including single-family houses, condos, townhouses and co-ops. According to NAR, the number of sales nationally increased 1.3% month-over-month to an annual pace of 3.95 million transactions in July 2024. While that’s the first increase since Q1, it’s still a 2.5% decrease from last year.

“Despite the modest gain, home sales are still sluggish,” Yun said in a statement.

Regionally, the Northeast saw the biggest sales increase, up 4.3% from June and 2.1% from July of last year. In the West, sales rose 1.4% both month-over-month and year-over-year. Sales in the South rose 1.1 perent from June but were down 3.8% from last year, and in the Midwest sales were flat in July and down 5.2% from July of last year.

Days on market

Properties typically remained on the market for 24 days in July, up slightly from 22 days in June and 20 days in July of last year. Selling times are a crucial measure at any time of year, but especially during the peak spring and summer selling seasons.

Home prices hit new July record

The nationwide median sale price for existing homes in July clocked in at $422,600. That’s down slightly from June’s all-time high of $426,900, mostly due to seasonality, but it’s still an increase of 4.2% from last year and the highest July median on record. This month’s jump marks 13 consecutive months of year-over-year price increases.

All four geographic regions again experienced annual price increases in July. The West continued to have the highest median price by far at $629,500, up 3.4% from a year ago. In the Northeast, the median rose 8.3% from a year ago to $505,100. The South’s median price rose 2.3% to $372,500, and the Midwest’s median rose 4.5% to $321,300.

First-time homebuyers made up 29% of sales in July, no change from June but down slightly from 30% in July of last year. All-cash deals accounted for 27% of July sales, up slightly from 26% a year ago.

Housing inventory on the rise

The supply of homes for sale is inching higher, after being severely low for quite some time. Total housing inventory — the overall number of homes for sale on the market — stood at 1.33 million units at the end of July. That’s up a modest 0.8% from June but a significant 19.8% jump from a year ago. The figure represents 4.0-month supply, which is getting closer to the five-to-six months typically required for a healthy, balanced market.

Despite the sharp rise in mortgage rates this past fall, which has kept many homeowners from sellingand thus kept those homes off the market, things may be looking up for homebuyers. “Consumers are definitely seeing more choices, and affordability is improving due to lower interest rates,” Yun said.

Robert Frick, corporate economist with Navy Federal Credit Union, cautiously agreed: “This is a glimmer of hope, not a turnaround signal,” he said. “Home sales remain weak, but lower mortgage rates should bring more potential sellers off the sidelines and increase affordability somewhat.”

(Visit Bankrate online at bankrate.com.)

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