Latest news with #Babin
Yahoo
27-05-2025
- Business
- Yahoo
4 Things the Middle Class Needs To Do Now To Thrive in the Trump Economy
On the campaign trail in 2024, President Donald Trump made a number of promises to the middle class. He promised that, if elected president for a second term, he would ensure the end of inflation, slash energy and electricity bills, and put a temporary cap on credit card interest rates. Trump also promised cheaper groceries; the list goes on. Explore More: Find Out: We're not even 150 days into President Trump's four-year term. It's far too early to tell whether Trump will succeed in delivering on these promises in full. But at this moment, many middle-class Americans are concerned about life in the U.S. becoming even more expensive. Tariffs, for example, could cost American households $5,200 annually, according to the Center for American Progress. Putting fear, doubt and even high hopes aside, we must ask: 'What can the middle class do right now to thrive in the Trump economy?' Consider the following expert-provided moves to make. Sean Babin, certified financial planner (CFP), CEO and lead financial advisor at Babin Wealth Management, highlighted the many challenges staring down the middle class right now: Rising home prices, rising childcare costs, rising education costs, rising healthcare costs and rising food costs. It's a lot to keep up with and can push you into high-interest debt if you're not amply prepared. Babin recommended having an emergency fund with at least three to six months' of living expenses in it. If you can set more aside than that (in a HYSA), absolutely do that. Suze Orman champions an emergency fund that will float you for 12 months. Be Aware: After the worst of the pandemic passed, Babin noticed a type of spend-happy FOMO rage among the middle class. ''You only live once' became a rallying cry across America,' Babin said. 'After being locked down for over a year, people were eager to make up for lost time, traveling, dining out, splurging on experiences, and buying things they'd long postponed. This wave of so-called 'revenge spending' saw many consumers throwing caution to the wind, often spending beyond their means. From blueberries to plane tickets, demand soared, and so did prices. The prevailing mindset was: Put it on the credit card and deal with it later. But as the bills piled up, so did the debt and its consequences are now being felt.' The middle class must reduce their spending if they want to survive these economic challenges. Chiefly, they must eliminate credit card debt. In 2023, the average outstanding debt per cardholder in the U.S. was about $6,088 and the average interest rate on credit cards is 21.47%, according to TransUnion. And credit card debt delinquency has risen since then. So, while we all kinda, sorta know that credit card debt is not good, we don't necessarily recognize how horrifically lethal it is. Yes, to some extent, the middle class can't be blamed for their credit card habit. We're fed promotional bait from credit card companies day and night, and even if we're pulling in six figures, we're living paycheck to paycheck or close to it. But we have to be real with ourselves. Putting food on the table is not the sole cause of credit card debt in the U.S; it's also things like buying luxury goods and electronics. 'Carrying a balance on a credit card is a big no no that will keep you trapped in the middle class,' Babin said. 'Have a plan to pay off high-interest rate debt as soon as possible. Might have to say no to some family vacations and nights out. It takes work to pay yourself first.' You have to invest and you have to invest in a variety of assets. 'Stocks, real estate, gold, your own business,' said Joseph Camberato, CEO at National Business Capital. 'The middle class often gets stuck trying to save their way to stability, but that's not enough anymore. The wealthy get wealthier because their money is always working for them. They buy things that grow in value: Assets that rise when prices rise. Their money is working for them while they sleep. Investing becomes their second job and focus. That's how they stay ahead of inflation. If you're not investing, you're falling behind.' And remember, a tumultuous market is still a good one to invest in. Do your homework, stay calm and be in it for the long haul — and stop putting this off. Editor's note on political coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on More From GOBankingRates 4 Affordable Car Brands You Won't Regret Buying in 2025 How Much Money Is Needed To Be Considered Middle Class in Every State? This article originally appeared on 4 Things the Middle Class Needs To Do Now To Thrive in the Trump Economy
Time of India
25-05-2025
- Entertainment
- Time of India
Onko Ki Kothin Movie Review: Kids shine in this heartwarming tale about dreams, friendship, and love
Directed by Saurav Palodhi – known for the charming web series Kholamkuchi – Onko Ki Kothin follows three inseparable friends: Babin (Riddhiman Banerjee), Dolly (Gitashree Chakraborty), and Tyre (Tapomoy Deb), who dream of becoming a doctor, a nurse, and an engineer. But when life pulls them out of school and into a reality where even securing an oxygen cylinder is a crisis, they take matters into their own hands – by building a hospital. Told through a child's lens, the film explores how innocence and imagination can make the impossible seem within reach. Palodhi keeps the focus tightly on the trio, gradually revealing their individual struggles while celebrating their deep bond – evident in shared meals, birthdays, and quiet moments of solidarity. The young actors are disarmingly natural, bringing warmth and authenticity to their roles. Their lives may be marked by poverty, but the film never lets that overshadow their dignity or joy. Ushasie Chakraborty leaves a lasting impression as Dolly's mother, while Sankar Debnath delivers a grounded, poignant performance as Babin's ailing father. Though the narrative sometimes strays with unnecessary subplots and a few jokes fall flat, the humour mostly lands. Ankkit Sengupta's cinematography captures both the innocence and urgency of the kids' mission, though the editing could have been sharper. The music stands out: Lagnajita Chakraborty's haunting Amake Golpo Bolo, composed by Debdeep Mukhopadhyay, lingers long after the credits roll. The energetic rap number Chaap Niye Laabh Nei, performed by the lead trio and Doriyaa, adds punch with its smart, reflective lyrics. Despite its occasional missteps, Onko Ki Kothin is a heartfelt story of resilience, friendship, and belief – told with sincerity, humour, and heart. It's a touching, family-friendly film that's well worth your time.
Yahoo
02-04-2025
- Business
- Yahoo
7 Steps To Take If Money Has You Trapped at Your Job
According to the Career Gridlock report from Resume Now, 60% of workers have stayed in roles longer because they were worried about what would happen when they left their jobs. While 57% of employees cited wanting better benefits, only 13% admitted that they had made a career transition. The report also found that 35% of workers felt stuck at their current job because they were afraid of taking a pay cut and 34% were worried about financial instability during the transition. Trending Now: Check Out: It's also worth pointing out that the Glassdoor Worklife Trends report found that 65% of professionals admitted to feeling stuck in their roles, yet the quit rates had reached the lowest point since June 2020. Glassdoor data also discovered that 17% of employees who made a career transition noted that their pay decreased in 2024. Here are seven steps worth considering if money has you trapped at your current job. 'The first step toward financial freedom is analyzing your budget,' said Sean Babin, certified financial planner (CFP) and CEO of Babin Wealth Management. 'Many Americans have little awareness of their monthly spending and whether they're operating at a surplus or a deficit.' For You: You can start by reviewing your expenses and reducing your spending so that you can save more and not have to worry about covering hefty expenses if you transition jobs. When you understand your spending better, you can look for ways to reduce it. Here are a few quick ways to review your finances right now: Go through your fixed expenses to see if you can cut anything, like a subscription service or a membership you no longer use. Review your variable costs to see if you have any problem areas, like dining out or a particular hobby that's more expensive than you realized. Once you've reviewed your spending, you'll want to move on to the next critical step. If you feel trapped at your job, it's likely because you're not confident with your financial situation and overall savings. One of the first places to start is your emergency fund so that you have the resources to bail you out. Alari Aho, human resources and talent acquisition expert and CEO of Toggl Hire, pointed out that even a small emergency fund can help you because when an opportunity to move on does come up, you'll be in a stronger position to take it. How much should you save if you feel trapped at a job? Babin shared the following formula: 'A good rule of thumb is that for every $10,000 in salary you're aiming for, expect your job search to take about a month, Babin said. 'So, if your goal is a $100,000 salary, it may take 10 months or more to land the right position.' This formula is different from the traditional approach that personal finance experts suggest, which is to save up anywhere from three to six months' worth of living expenses in your emergency fund. Either way, the goal is to save up some money so that you're comfortable with making a career transition and don't feel stuck. Babin recommended connecting with recruiters in your desired industry. 'They can be invaluable in helping you navigate opportunities and get in front of the right people,' he added. Applying for jobs while you're still employed can help you get a foot in the door and boost your confidence. You may discover that there are opportunities available to you that you weren't aware of. Aho recommended networking with individuals in your desired field so that you don't feel alone. By reaching out to contacts on social media or attending events related to your field, you can better understand what's happening in your industry. The reason that you're feeling trapped could be that you're not aware of your options in your industry because you're only checking job boards. Babin pointed out that traditional job boards are saturated with hundreds, sometimes thousands, of applicants per listing, making it difficult to stand out. 'These days, it's less about blindly applying online and more about who you know — and who can get you in the door,' Babib said. You'll want to designate some time to attending industry events and reaching out to your network so that you can explore all possibilities. 'You don't need to quit your job right away, but small steps, such as acquiring a new skill or revising your resume, are enough to feel less stagnant,' Aho explained. If you're feeling like you can't leave your current job, this could be the ideal time to look into any certificates or skills that can help you upgrade your resume so that you have more to offer when applying for different roles. The Glassdoor report cited that 39% of employees had taken on a side hustle to help supplement their pay. If you're feeling trapped at a job because of the income, you'll want to try to boost your earnings through a side job or freelance work. This could provide some wiggle room financially or you may even discover a new career path. The best option is to offer freelance services in your field on a marketplace like to see if there's demand in your industry. You'll want to explore these platforms to see what the rates are like and if it's worth taking on contract work. This will also help you better grasp the demand for your skill set in the current market. Aho noted that you shouldn't overlook the power of talking with your manager. If you're feeling burned out or have concerns about compensation, you might be able to fix things through open communication with your boss. There could be an opportunity for a job transfer or advancement within reach. 'Sometimes, the conversation you're afraid to have is the one that changes everything,' Aho said. This could be a wake-up call to discuss career advancement opportunities with senior-level management in your company. More From GOBankingRates 5 Luxury Cars That Will Have Massive Price Drops in Spring 2025 4 Things You Should Do if You Want To Retire Early The New Retirement Problem Boomers Are Facing 8 Common Mistakes Retirees Make With Their Social Security Checks This article originally appeared on 7 Steps To Take If Money Has You Trapped at Your Job Sign in to access your portfolio
Yahoo
14-03-2025
- Politics
- Yahoo
Reparations fight hits Congress as GOP looks to defund new DC task force
FIRST ON FOX: A group of House Republicans is moving to have federal funds blocked to any state or local area that enacts policies regarding slavery reparations. It comes in response to Washington's new reparations task force, expected to be formed this year after the Democrat-controlled city council approved it in its budget last year, according to the Washington Times. "That is now going to be, evidently, policy in Washington, D.C.," House Science, Space, and Technology Committee Chairman Brian Babin, R-Texas, told Fox News Digital. "I think this is a very timely bill to be able to push back on basically . . . virtue signaling." 'Tipping The Scales': House Gop Leaders Rip Actblue After Dem Fundraising Giant Hit With Subpoena Babin, who introduced the No Bailouts for Reparations Act on Friday, called the matter of reparations "a milking of the U.S. taxpayer for a very narrow group of people." "I think it is a privilege to be an American citizen. And certainly we have had, there was slavery in the past. There's been indentured servitude," Babin said. "No American taxpayer should be on the hook to pay reparations to individuals for something that happened over 150 years ago." Read On The Fox News App Reparations refer to measures to redress past wrongs. In the context of the U.S. political debate, the term almost always refers to payments to Black Americans whose families have suffered from slavery. Black Caucus Chair Accuses Trump Of 'Purge' Of 'Minority' Federal Workers It's a thorny political issue that's vehemently opposed by conservatives, who see it as a waste of taxpayer dollars for something that living Americans aren't responsible for, and backed by far-left progressives, who argue that the damages of slavery are still seen today. Just earlier this year, "Squad" member Rep. Ayanna Pressley, D-Mass., and Sen. Cory Booker, D-N.J., released legislation "to establish a federal commission to examine the lasting legacy of slavery and develop reparations proposals for African American descendants of enslaved people," according to a press release. That bill is virtually guaranteed to wither on the vine in the 119th Congress, however, with Republicans controlling all the major levers of power in D.C. President Donald Trump said, "I don't see it happening" when asked about reparations in a 2019 interview with The Hill. Babin's bill has circulated through the House for potential co-sponsors this week. "I don't think the American people want to see divisiveness. They don't want to see special victim interest groups for something, and we fought a war over, and it's been over for 150 years," he said. "The nation should focus on policies to promote economic opportunity for everyone, not government handouts based on ancestry."Original article source: Reparations fight hits Congress as GOP looks to defund new DC task force
Fox News
14-03-2025
- Politics
- Fox News
Reparations fight hits Congress as GOP looks to defund new DC task force
FIRST ON FOX: A group of House Republicans is moving to have federal funds blocked to any state or local area that enacts policies regarding slavery reparations. It comes in response to Washington's new reparations task force, expected to be formed this year after the Democrat-controlled city council approved it in its budget last year, according to the Washington Times. "That is now going to be, evidently, policy in Washington, DC," House Science, Space, and Technology Committee Chairman Brian Babin, R-Texas, told Fox News Digital. "I think this is a very timely bill to be able to push back on basically…virtue signaling." Babin, who introduced the No Bailouts for Reparations Act on Friday, called the matter of reparations "a milking of the U.S. taxpayer for a very narrow group of people." "I think it is a privilege to be an American citizen. And certainly we have had, there was slavery in the past. There's been indentured servitude," Babin said. "No American taxpayer should be on the hook to pay reparations to individuals for something that happened over 150 years ago." Reparations refer to measures to repay past wrongs. In the case of the U.S. political debate, it almost always refers to payments to Black Americans whose families have suffered from slavery. It's a thorny political issue that's vehemently opposed by conservatives, who see it as a waste of taxpayer dollars for something living Americans aren't responsible for, and backed by far-left progressives who argue the damages of slavery are still seen today. Just earlier this year, "Squad" member Rep. Ayanna Pressley, D-Mass., and Sen. Cory Booker, D-N.J., released legislation "to establish a federal commission to examine the lasting legacy of slavery and develop reparations proposals for African American descendants of enslaved people," according to a press release. That bill is virtually guaranteed to wither on the vine in the 119th Congress, however, with Republicans controlling all the major levers of power in DC. President Donald Trump said, "I don't see it happening" when asked about reparations in a 2019 interview with The Hill. Babin's bill has circulated through the House for potential co-sponsors this week. "I don't think the American people want to see divisiveness. They don't want to see special victim interest groups for something, and we fought a war over, and it's been over for 150 years," he said. "The nation should focus on policies to promote economic opportunity for everyone, not government handouts based on ancestry."
