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https://www.blackenterprise.com/ways-reduce-credit-card-debt/
As credit card delinquencies rise nationally, Black Americans facing financial disadvantages could be impacted even more.
That is a view from Monique White, the Head of Community at Self Financial, a credit-building platform with products geared to make building credit accessible for consumers with low or no credit. White has over 10 years of experience in the financial industry and was formerly a financial coach with Operation HOPE.
White provided BLACK ENTERPRISE email commentary of new studies indicating that 46% of Black adults have been denied in their application for credit versus 22% of white adults. Further, the finding comes amid reports of an increasing number of Americans sliding behind on monthly credit card payments.
Credit card debt surged by $45 billion to a banner level of $1.03 trillion in the second quarter of 2023, per the Federal Reserve Bank of New York. Another report revealed the Fed’s barometer of credit card debt 30 or more days late climbed to 7.2% in the quarter, the largest increase since the first quarter of 2012.
White shared some of the biggest repercussions of missing credit card payments. According to her, many people underestimate the impact of credit on your ability to build lasting wealth and achieve your financial goals. For example, a good credit score can help you apply for a mortgage or take out a loan, all of which will bolster your future financial profile.
However, she added, establishing a strong credit history is not easy.
“And with missed payments making up 35% of your credit score, high delinquency rates will lead to lower credit scores—putting more boundaries between you and those big milestones in life. Late payments can stay on your credit report for up to seven years. And rebuilding your credit, after several missed payments, can cost you more time and money,” she explained.
Here are some steps that White says credit card users can take to mitigate the impact of late payments and work toward fixing their credit score:
- “Set up automatic payments: Most credit card companies give you the option to set up automatic payments to avoid missing your payments. This will not only protect your credit score but ensure that you are not paying extra late fees or penalties.”
- “Utilize your existing bills to build credit: Many people don’t know there are multiple ways to increase your credit score. For example, you can now report your biggest monthly payments, such as your rent and utilities, to the three major credit bureaus to help bolster your credit. This adds new trade lines and payment history to your credit report, important factors in your score.”
- “Make sure you are constantly reviewing your credit report: Having a clear sense of what is impacting your credit score–any errors or changes– is crucial to make the necessary changes to bolster your score.”
- “Create a budget: Inevitably, your credit score is linked to your overall finances. As you work toward increasing your financial profile, take some time to evaluate what works and what doesn’t when it comes to your finances. Nobody knows your finances better than you, so make sure that you are creating a budget that is sympathetic to your needs, your income, and your long-term goals. Make necessary changes that can benefit you in the short term, including canceling subscriptions or identifying areas in your life where you can cut spending.”
Check out more informative tips here.
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If you’re a fan of the Disney animated film Hercules and love the its popular soundtrack voiced by notable muses Calliope, Clio, Melpomene, Terpsichore, and Thalia, then you will be excited to know they were the opening act of the Saturday presentation at Destination D23 this weekend.
Several news announcements were made, but what got the crowd warmed up beforehand was song and dance by our fab five. Here’s a small clip below featuring just one of the most popular songs from the Hercules soundtrack.
One of the first news items that came from Josh D’Amaro, Chairman of Disney Parks Experiences and Products was that our girl Ahsoka will have an experience featured on Star Tours. Asha from the upcoming film Wish will also be featured respectively.
This exclusive announcement was mentioned at D23 previously, but a quick mention was brought up about Tiana’s Bayou Adventure, which will be coming soon to Disney World. At the moment, it is currently under construction and is projected to open at the Orlando theme park in 2024. Tiana’s Palace, a New Orleans themed restaurant, recently opened over at Disneyland in Anaheim.
Disney has also expanded its international parks, particularly in its Hong Kong location. If you’re a Frozen fan, The World of Frozen opens November 20th just in time for the holidays. The park will blend Arendelle with the park’s natural surroundings – and the audience is getting a first peek at the land.
At Disney California Adventure Park, a new world-jumping vehicle is coming to the next attraction in Avengers Campus to help transport Super Heroes into the Multiverse.
Brent Strong, executive creative director at Walt Disney Imagineering, is sharing an early peek at the ride vehicle featuring a design that combines elements of Tony Stark’s time-suits with Xandarian jump points and Wakandan technology.
Journey of Water inspired by the Disney film Moana opens October 16th at Walt Disney World. Here is exclusive footage from the experience taken from our media preview event.
For more information about news out of Destination D23 Expo you can check out the Disney Parks blog here or go to our Twitter page for our live tweets from the event.
Studio Ghibli’s latest The Boy and the Heron’s trailer has finally arrived on the scene, and we’re left picking up the pieces of the short burst of wonder and awe we’ve been gifted. Originally, released in Japan back in July of this year, we’re finally getting a glimpse of Ghibli’s latest that will be airing in North American theatres come December. I can recall hearing bits and pieces about this project that reportedly took several years to complete–famed and beloved director Hayao Miyazaki’s quest to give us another animated story to fall in love with. This is an especially unique time because this week marks the 10th anniversary of Miyazaki’s press conference about his *final* movie , The Wind Rises and his *retirement* announcement back in 2013, thanks for the reminder Catsuka!
What is the Film About?
GKIDS elaborates: “A young boy named Mahito, yearning for his mother, ventures into a world shared by the living and the dead. There, death comes to an end, and life finds a new beginning. A semi-autobiographical fantasy about life, death, and creation, in tribute to friendship, from the mind of Hayao Miyazaki.”
As reported by Indiewire: “The Boy and the Heron is an original story inspired by Yoshino Genzaburo’s 1937 story about a young boy who comes of age while living with his uncle after the death of his father.” We know that Miyazaki returned to work because that man cannot just sit and enjoy retirement, yet it is a bit endearing to read that he wanted to leave a film to his grandson. Some have interpreted this film being dedicated to his grandson which is one of the most heartwarming things I’ve read all week.
What Do We Know for Sure?
This is Hayao Miyazaki’s first feature film in 10 years! The Boy and the Heron is a hand-drawn, original story written and directed by the Academy Award®-winning director. The film is produced by Studio Ghibli co-founder Toshio Suzuki, and the film features a musical score from Miyazaki’s long-time collaborator Joe Hisaishi. The theme song for the film “Spinning Globe” was penned and performed by global J-pop superstar Kenshi Yonezu.
Call Back to Older Films, But Still Something New
In the teaser trailer we get:
- Within the first ten seconds: fire and destruction which may be a nod to war or some great tragedy (Grave of the Fireflies, The Wind Rises)
- At the thirty second mark: A glimpse of unique characters whom we can speculate could be spirits or otherworldly beings (Take Your Pick of Ghibli Films, but I’m feeling Spirited Away)
- At the thirty-six second mark: A child entering a unique doorway or gate which looks to lead to a place much different than their own reality with its own set of rules (Spirited Away)
- At the forty-nine second mark: A fiery individual perhaps offering a deal to the main character (Howl’s Moving Castle)
With just a teaser trailer, it is fun to speculate on just what is happening with the short glimpse of the film we’ve been given. I know that above all, the film is about family. In the teaser, we see Mahito looking for a mother who may no longer be alive. Culturally, in the Asian Diaspora but especially Japan, the heron bird has special significance and symbolism that I’m sure the film will allude to in more detail. There are hints to more strange characters, another world, and a child going through many hardships.
Truthfully, The Boy and the Heron is calling to mind one of my favorite Ghibli films–Spirited Away, and that’s not an insult in any way or fashion on my end. I’ll check back in December to see if any of my speculation was on point and what this new film from the studio and Miyazaki adds to House Ghibli and the animation world! What I know for sure that Ghibli Fest 2023 was already made special with Spirited Away: Live on Stage, so receiving a new Ghibli film in the same year feels like a treasure!
For all those asking: Yes, there will be an English dub and we can't wait to share more! Follow us and stay tuned for further updates!
— GKIDS Films (@GKIDSfilms) September 6, 2023https://t.co/okrh8P1xvC
The Boy and the Heron. From Hayao Miyazaki and Studio Ghibli. In theatres nationwide and IMAX December 8. As it is an official selection of the Toronto International Film Festival (TIFF) and New York Film Festival (NYFF), It will open internationally this month. To stay updated with the film, be sure to follow. You can sign up to receive SMS and email updates on #TheBoyandtheHeron at TheBoyandtheHeron.com.
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