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Yahoo
a day ago
- Business
- Yahoo
3 Bills Boomers Prioritize Paying on Time — and 4 They Admit Paying Late
Most boomers aren't stressing about being able to pay all of their bills in a timely manner. According to a recent Bread Financial report, when asked how confident they were that they would be able to pay all of their bills for the following month on time, 57% of boomers said they are very confident and an additional 32% said they were fairly confident. Find Out: Read Next: However, there are certain bills boomers will prioritize paying over others. Here's a look at the bills boomers always pay on time — and the ones they admit to lagging behind on sometimes. The Bread Financial survey asked Americans which bills they prioritize to make sure they get paid on time. Among boomers, the three bills they always prioritize are utilities (68%), rent or mortgage (55%) and credit cards (50%). While, ideally, boomers will pay all of their bills on time, it's important to know how to prioritize bills if you're coming up short one month. 'If you have to choose, always prioritize bills related to things that keep you safe and allow you to function in the world, like shelter, healthcare and transportation,' said Trae Bodge, personal finance expert and founder of True Trae. 'Then, focus on higher-interest bills.' You should also prioritize bills that impact your credit score. 'Mortgages, credit card bills and student loans are among the most important to pay on time because these can negatively impact your credit score when paid late,' said Andrea Woroch, a budgeting expert. Based on this logic, boomers might not need to prioritize paying utility bills as much as they do. 'While you should pay all bills on time, most utility companies and service providers don't report late payments to credit reporting agencies,' Woroch said. Check Out: Less than half of boomers said they prioritized paying the following bills on time: insurance (43%), medical bills (20%), car payments (17%), subscriptions and streaming services (7%), and student loans (1%). 'Some bills you can get away with being a little late, like insurance and utilities, but if you are too late you end up accruing penalties or experiencing a service disruption,' Bodge said. Americans of all ages should make an effort to pay all bills on time to avoid late fees, service disruptions and dings to their credit scores — but it isn't always easy to actually make this happen. Here are a few expert-approved tips to help you get your bill paying habits on track: Put bills on autopay. 'Then, to ensure you have the funds available, set calendar alerts several days ahead of time in case you need to transfer money from one account to the other,' Bodge said. Consolidate bills where possible. 'Something else to consider is having fewer bills to pay,' Bodge said. 'If you have five-plus credit cards, think about keeping two to three in your wallet and that's it. That way, you have fewer bills to juggle.' Always pay at least the minimum amount. If you can't pay all of your bills in full, make sure you are at least making minimum payments in a timely manner. 'Set up autopay even if it's just for the minimum amount,' Woroch said. 'You can always pay extra to a credit card bill or make an extra principal payment to your mortgage loan at a later time.' More From GOBankingRates 10 Unreliable SUVs To Stay Away From Buying This article originally appeared on 3 Bills Boomers Prioritize Paying on Time — and 4 They Admit Paying Late Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
How Much Cash Does Each Generation Have in Their Emergency Funds?
One of the fundamental teachings of personal finance is to have an emergency fund stashed with three to six months' worth of living expenses. This fund is there to get you through unexpected monetary challenges, such as a job loss or an emergency medical expense, and can protect you from having to take on debt. Be Prepared: Read Next: Yet, not all Americans have one — and even those who do might not have enough in it. According to a recent Bread Financial report, the likelihood of having a sufficient emergency fund varies by generation. Here's a look at how much Americans in each generation have in their emergency funds. Baby boomers are the most likely to have sufficient emergency savings, the Bread Financial report found. One-fifth of all boomers (20%) have three to six months of expenses in an emergency fund and 33% have more than six months. They're also the least likely of the generations to have no emergency fund (30%) or less than three months of expenses in their fund (16%). Among Gen X, 39% have no emergency fund, 26% have three to six months' worth of expenses, 19% have less than three months and 16% have more than six months. They're the generation most likely to have no emergency fund at all. Millennials are the next most-likely to lack an emergency fund — 37% admit they have nothing saved for an emergency. On the plus side, a little short of half of all millennials do have sufficient emergency savings — 27% have three to six months saved and 13% have more than six months. An additional 22% have an emergency fund, but it has less than three months' worth of expenses in it. Although Gen Z has had the least time to build their emergency funds, they're faring relatively well. Nearly one-third (29%) have three to six months saved and 14% have more than six months. Twenty-two percent have less than three months saved, and 36% don't have an emergency fund. Explore More: As the report shows, the baby boomer generation — now ages 61 to 79 — are the most likely to have a fully funded emergency fund. There are several reasons for this. 'Boomers tend to be more mature and stable,' said Trae Bodge, personal finance expert and founder of True Trae. 'They've made their mistakes, but now they are close to retirement and less likely to play fast and loose with their money. Younger people can take more risks.' Younger generations have also had to deal with more financial hardships during their early earning years. 'Younger generations have endured a series of economic struggles, all while living and housing costs have soared, making it harder to save,' said Andrea Woroch, a money-saving expert. 'Boomers have had more time to save before a series of economic struggles ensued. 'Not to mention, boomers are also at an age where they may have paid off their mortgage and/or no longer have children living at home, reducing the total amount of monthly spending, which allows them to save more.' While three to six months of expenses is the typical guideline for emergency funds, some experts believe six months should be the goal for members of all generations. 'At least six months of expenses is a good target,' Bodge said. 'The hope is that in six months, you'll be able to right the ship after a job loss, illness or unexpected expense.' Woroch also believes that six months should be the goal. To come up with your ideal number, start making a list of all of your necessary living expenses. 'You also want to think about some of those wants that you may not want to live without when dealing with a financial emergency,' she said. 'This could be a gym membership to ensure you can stay healthy and boost your mood during a tough time, or even hair care services to keep up with your appearance for future job interviews. Build in these expenses into your monthly savings goal.' More From GOBankingRates 4 Housing Markets That Have Plummeted in Value Over the Past 5 Years This article originally appeared on How Much Cash Does Each Generation Have in Their Emergency Funds? Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Is Cash Still King? Here's How Boomers Are Paying for Purchases in 2025
When it comes to paying for everyday purchases, there's no shortage of choices for the method you use. You can swipe a card, pay with cash or use the ever-more-popular buy now, pay later services that are available. Be Aware: Read Next: As for which method boomers prefer, the answer may surprise you. You might think that boomers would prefer 'old school' payment methods like cash or check, but this is not how they're paying for everyday purchases. According to a new Bread Financial report, the most common way boomers pay for everyday expenses — defined in this survey as purchases under $500 — is debit card (58%). The next most popular payment method is bank-branded credit cards (52%) followed by cash in third place (44%). And while boomers are more likely to use personal checks than other generations, just 16% of this generation is writing checks. Using a debit card versus a credit card to make payments has certain pros and cons. 'Paying with a debit card can be a good way to stay on budget if you are currently struggling with debt,' said Trae Bodge, a personal finance expert and founder of True Trae. On the cons side, 'paying with a debit card is not as secure as paying with a credit card, so using a debit card can put the user at risk,' Bodge said. 'Also, using credit cards can have benefits.' This could come in the form of cash back or rewards points that can really add up over time. Learn More: Boomers are less likely use cash than any other generation — 57% of millennials, 52% of Gen X and 52% of Gen Z said they often pay with cash, compared to 44% of boomers. Anecdotally, Bodge has noticed older generations' preference for cards over cash firsthand. (According to the report, in addition to debit cards (58%) and bank-branded credit cards (52%), boomers also like using store-branded credit cards (21%).) 'This reminds me of my mom, who was a member of the Greatest Generation,' she said. 'I was helping her organize her wallet and saw that she had so many credit cards for specific retailers, as well as general cards that she would rotate. It was total overkill, and I had to convince her that she really only needed a few. Must be a generational thing.' More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 10 Cars That Outlast the Average Vehicle 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses This article originally appeared on Is Cash Still King? Here's How Boomers Are Paying for Purchases in 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
3 Bills Boomers Prioritize Paying on Time — and 4 They Admit Paying Late
Most boomers aren't stressing about being able to pay all of their bills in a timely manner. According to a recent Bread Financial report, when asked how confident they were that they would be able to pay all of their bills for the following month on time, 57% of boomers said they are very confident and an additional 32% said they were fairly confident. Find Out: Read Next: However, there are certain bills boomers will prioritize paying over others. Here's a look at the bills boomers always pay on time — and the ones they admit to lagging behind on sometimes. The Bread Financial survey asked Americans which bills they prioritize to make sure they get paid on time. Among boomers, the three bills they always prioritize are utilities (68%), rent or mortgage (55%) and credit cards (50%). While, ideally, boomers will pay all of their bills on time, it's important to know how to prioritize bills if you're coming up short one month. 'If you have to choose, always prioritize bills related to things that keep you safe and allow you to function in the world, like shelter, healthcare and transportation,' said Trae Bodge, personal finance expert and founder of True Trae. 'Then, focus on higher-interest bills.' You should also prioritize bills that impact your credit score. 'Mortgages, credit card bills and student loans are among the most important to pay on time because these can negatively impact your credit score when paid late,' said Andrea Woroch, a budgeting expert. Based on this logic, boomers might not need to prioritize paying utility bills as much as they do. 'While you should pay all bills on time, most utility companies and service providers don't report late payments to credit reporting agencies,' Woroch said. Check Out: Less than half of boomers said they prioritized paying the following bills on time: insurance (43%), medical bills (20%), car payments (17%), subscriptions and streaming services (7%), and student loans (1%). 'Some bills you can get away with being a little late, like insurance and utilities, but if you are too late you end up accruing penalties or experiencing a service disruption,' Bodge said. Americans of all ages should make an effort to pay all bills on time to avoid late fees, service disruptions and dings to their credit scores — but it isn't always easy to actually make this happen. Here are a few expert-approved tips to help you get your bill paying habits on track: Put bills on autopay. 'Then, to ensure you have the funds available, set calendar alerts several days ahead of time in case you need to transfer money from one account to the other,' Bodge said. Consolidate bills where possible. 'Something else to consider is having fewer bills to pay,' Bodge said. 'If you have five-plus credit cards, think about keeping two to three in your wallet and that's it. That way, you have fewer bills to juggle.' Always pay at least the minimum amount. If you can't pay all of your bills in full, make sure you are at least making minimum payments in a timely manner. 'Set up autopay even if it's just for the minimum amount,' Woroch said. 'You can always pay extra to a credit card bill or make an extra principal payment to your mortgage loan at a later time.' More From GOBankingRates Clever Ways To Save Money That Actually Work in 2025 This article originally appeared on 3 Bills Boomers Prioritize Paying on Time — and 4 They Admit Paying Late Sign in to access your portfolio
Associated Press
21-05-2025
- Business
- Associated Press
Bread Financial Announces Modified Dutch Auction Cash Tender Offer for 9.750% Senior Notes Due 2029
COLUMBUS, Ohio, May 21, 2025 (GLOBE NEWSWIRE) -- Bread Financial Holdings, Inc. (NYSE: BFH) ('Bread Financial' or the 'Company') today announced it has commenced a cash tender offer (the 'Tender Offer') to purchase up to $150.0 million (subject to increase, the 'Tender Cap') aggregate principal amount of its 9.750% Senior Notes maturing March 2029 (the 'Notes'). The Tender Offer is being made on the terms and subject to the conditions set forth in the Offer to Purchase, dated May 21, 2025 (as it may be amended or supplemented, the 'Offer to Purchase'). The Tender Offer will expire at 5:00 p.m., New York City time, on June 20, 2025, unless extended or earlier terminated as described in the Offer to Purchase (such date and time, as they may be extended, the 'Expiration Time'), with an early participation deadline of 5:00 p.m., New York City time, on June 4, 2025 (the 'Early Participation Date'), unless extended or earlier terminated. The total consideration payable for each $1,000 principal amount of Notes will be determined based on a modified 'Dutch Auction' procedure. Holders of the Notes ('Holders') who validly tender (and do not validly withdraw) their Notes before 5:00 p.m., New York City time, on the Early Participation Date, and whose Notes are accepted for purchase by the Company, will be eligible to receive the 'Total Consideration,' which includes an 'Early Participation Amount' of $50.00 for each $1,000 principal amount of the Notes validly tendered. The Company may, but is not obligated to, following the Early Participation Date and prior to the Expiration Time, elect to accept the Notes validly tendered by Holders on or prior to the Early Participation Date, for settlement on such date or promptly thereafter (the 'Early Payment Date'). If the Company elects to have an Early Payment Date, it is currently expected to be June 9, 2025, though it will issue a press release announcing the date selected as the Early Payment Date. Holders who validly tender their Notes after the Early Participation Date and on or prior to the Expiration Time, and who have their Notes accepted for purchase by the Company, will not be eligible to receive the Early Participation Amount and will only receive the Total Consideration minus the Early Participation Amount (the 'Tender Offer Consideration') on the final payment date (the 'Final Payment Date'). The Final Payment Date is currently expected to occur on June 25, 2025. Holders electing to participate may specify the minimum Total Consideration (the 'Bid Price') they would be willing to receive in exchange for each $1,000 principal amount of Notes they choose to tender in the Tender Offer. The Bid Price that Holders specify for each $1,000 principal amount of Notes must be within the range set forth in the table below and must be in increments of $1.25. The following table sets forth certain terms of the Tender Offer: As more fully described in the Offer to Purchase, the Total Consideration for each $1,000 principal amount of Notes validly tendered by Holders (and not validly withdrawn) on or prior to the Early Participation Date and accepted for purchase by the Company (subject to proration, if applicable) will be equal to the sum of: (1) the 'Base Price,' which also is equal to the minimum Bid Price, and (2) the 'Clearing Premium,' which will be determined by consideration of the bid premiums of all validly tendered (and not validly withdrawn) Notes on or prior to the Early Participation Date, in order of lowest to highest bid premiums. If the aggregate amount of the Notes validly tendered (and not validly withdrawn) at or below the Clearing Premium would cause the Company to accept an aggregate principal amount of Notes in excess of the Tender Cap, then Holders of Notes tendered at the Clearing Premium will be subject to proration as described in the Offer to Purchase. Tendered Notes may be withdrawn any time on or prior to 5:00 p.m., New York City time, on June 4, 2025, unless extended by the Company (such date and time, as the same may be extended or earlier terminated, the 'Withdrawal Date'). Notes validly tendered after the Withdrawal Date may not be withdrawn or revoked, unless otherwise required by law. The Tender Offer is subject to the satisfaction or waiver of a number of conditions as set forth in the Offer to Purchase. The Company may amend, extend or terminate the Tender Offer in its sole discretion and subject to applicable law. The Company reserves the right, subject to applicable law, to (a) extend the Early Participation Date, the Withdrawal Date or the Expiration Time, in each case, to a later date and time; (b) increase the Tender Cap; (c) waive in whole or in part any or all conditions to the Tender Offer; (d) delay the acceptance for purchase of any Notes or delay the purchase of any Notes; (e) increase the maximum bid price (as described in the Offer to Purchase); (f) decrease the minimum bid price or the maximum bid price (each as described in the Offer to Purchase); or (g) otherwise modify or terminate the Tender Offer. The Company does not intend to extend the Early Participation Date, the Withdrawal Date or the Expiration Time unless required by law or otherwise in its sole discretion. J.P. Morgan Securities LLC is acting as the sole lead dealer manager and BMO Capital Markets Corp., CIBC World Markets Corp., KeyBanc Capital Markets Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., Truist Securities, Inc., Fifth Third Securities, Inc., U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC are acting as co-dealer managers for the Tender Offer. Ipreo LLC is serving as the information agent and tender agent. Copies of the Offer to Purchase and related tender offering materials are available by contacting the information agent at (212) 849-3880 (banks and brokers) and at (888) 593-9546 (all others) or by email at [email protected]. Questions regarding the Tender Offer should be directed to J.P. Morgan at (866) 834-4666 (toll free) or (212) 834-7489 (collect). None of the Company, the sole lead dealer manager, the co-dealer managers, the information agent and tender agent or the trustee for the Notes makes any recommendation as to whether Holders should tender any Notes in response to the Tender Offer. Holders must make their own decision as to whether to tender any of their Notes and, if so, the principal amount of Notes and the Bid Price or Bid Prices at which to tender. This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offering, solicitation or sale would be unlawful. The Tender Offer is being made solely by means of the Offer to Purchase. In those jurisdictions where the securities, blue sky or other laws require any tender offer to be made by a licensed broker or dealer, the Tender Offer will be deemed to be made on behalf of the Company by the dealer managers or one or more registered brokers or dealers licensed under the laws of such jurisdiction. Cautionary Statement on Forward-Looking Language This news release may contain forward-looking statements, including, but not limited to, our financing plans and the details thereof, including the proposed tender offer of the Notes and the other expected effects of such transaction. Forward-looking statements may generally be identified by the use of the words such as 'believe,' 'expect,' 'anticipate,' 'estimate,' 'intend,' 'project,' 'plan,' 'likely,' 'may,' 'should' or other words or phrases of similar import. Similarly, statements that describe our business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding, and the guidance we give with respect to, our anticipated operating or financial results, future financial performance and outlook, future dividend declarations, and future economic conditions. We believe that our expectations are based on reasonable assumptions. Forward-looking statements, however, are subject to a number of risks and uncertainties that are difficult to predict and, in many cases, beyond our control. Accordingly, our actual results could differ materially from the projections, anticipated results or other expectations expressed in this release, and no assurances can be given that our expectations will prove to have been correct. Factors that could cause the outcomes to differ materially include, but are not limited to, the following: macroeconomic conditions, including market conditions, inflation, interest rates, labor market conditions, recessionary pressures or concerns over a prolonged economic slowdown, and the related impact on consumer spending behavior, payments, debt levels, savings rates and other behaviors; global political and public health events and conditions, including significant shifts in trade policy, such as changes to, or the imposition of, tariffs and/or trade barriers and any economic impacts, volatility, uncertainty and geopolitical instability resulting therefrom, as well as ongoing wars and military conflicts and natural disasters; future credit performance of the Company's customers, including the level of future delinquency and write-off rates; loss of, or reduction in demand for services from, significant brand partners or customers in the highly competitive markets in which the Company competes; the concentration of the Company's business in U.S. consumer credit; increases or volatility in the Allowance for credit losses that may result from the application of the current expected credit loss (CECL) model; inaccuracies in the models and estimates on which the Company relies, including the amount of its Allowance for credit losses and our credit risk management models; increases in fraudulent activity; failure to identify, complete or successfully integrate or disaggregate business acquisitions, divestitures and other strategic initiatives, including, with respect to divested businesses, any associated guarantees, indemnities or other liabilities; the extent to which the Company's results are dependent upon its brand partners, including its brand partners' financial performance and reputation, as well as the effective promotion and support of the Company's products by brand partners; increases in the cost of doing business, including market interest rates; the Company's level of indebtedness and inability to access financial or capital markets, including asset-backed securitization funding or deposits markets; restrictions that limit the ability of Comenity Bank and Comenity Capital Bank (the 'Banks') to pay dividends to the Company; pending and future litigation; pending and future federal, state, local and foreign legislation, regulation, supervisory guidance and regulatory and legal actions including, but not limited to, those related to financial regulatory reform and consumer financial services practices, as well as any such actions with respect to late fees, interchange fees or other charges; increases in regulatory capital requirements or other support for the Banks; impacts arising from or relating to the transition of the Company's credit card processing services to third party service providers that it completed in 2022; failures or breaches in the Company's operational or security systems, including as a result of cyberattacks, unanticipated impacts from technology modernization projects, failure of its information security controls or otherwise; loss of consumer information or other data due to compromised physical or cyber security, including disruptive attacks from financially motivated bad actors and third party supply chain issues; and any tax or other liability or adverse impacts arising out of or related to the spinoff of the Company's former LoyaltyOne segment or the bankruptcy filings of Loyalty Ventures Inc. and certain of its subsidiaries and subsequent litigation or other disputes. The foregoing factors, along with other risks and uncertainties that could cause actual results to differ materially from those expressed or implied in forward-looking statements, are described in greater detail under the headings 'Risk Factors' and 'Management's Discussion and Analysis of Financial Condition and Results of Operations' in our Annual Report on Form 10-K for the most recently ended fiscal year, which may be updated in Item 1A of, or elsewhere in, our Quarterly Reports on Form 10-Q filed for periods subsequent to such Form 10-K. Our forward-looking statements speak only as of the date made, and the Company undertakes no obligation, other than as required by applicable law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unanticipated circumstances or otherwise. About Bread Financial Bread Financial® (NYSE: BFH) is a tech-forward financial services company that provides simple, personalized payment, lending, and saving solutions to millions of U.S consumers. Our payment solutions, including Bread Financial general purpose credit cards and savings products, empower our customers and their passions for a better life. Additionally, we deliver growth for some of the most recognized brands in travel & entertainment, health & beauty, jewelry and specialty apparel through our private label and co-brand credit cards and pay-over-time products providing choice and value to our shared customers. Contacts Brian Vereb – Investor Relations [email protected] Susan Haugen – Investor Relations [email protected] Rachel Stultz – Media [email protected]
