TruChoice Financial Group, LLC

TruChoice Financial Group, LLC (TruChoice), one of the largest distributors of insurance products in the financial services industry, held its first annual Discover conference Oct. 12-14 at the JW Marriott Minneapolis Mall of America in Bloomington, Minnesota. More than 50 of TruChoice's financial professionals gathered to discuss best practices and learn from an assortment of speakers in sessions designed to provide a boost to finish 2022 strong.

"As the emcee for the event, I was able to see firsthand the idea-sharing and networking, and the excitement in the room as those lightbulb moments were occurring," said Jim Maietta, TruChoice's Chief Distribution Officer. "I'm excited to hear how attendees take the ideas they gathered and implement them in their practices." 

Discover '22 was kicked off by industry legend Tom Hegna, who also took the time to mingle with attendees at the opening night reception. Also taking the stage were successful peers who shared their stories, TruChoice's own trainers and speakers, and two major insurance carriers. On the second night of the event, the group was treated to a private event at the nearby aquarium, SEA LIFE at Mall of America.

"We set the bar high starting the event with Tom Hegna, who even the most experienced financial professional can learn from," said Scott Wheeler, TruChoice's Chief Marketing Officer. "But the rest of the lineup all hit it out of the park, too, with great presentations, and you could feel a renewed energy in the room as the event progressed. The feedback we've received so far is overwhelmingly positive, and we're excited to start looking ahead to Discover '23 next year."

For more information about TruChoice events, or to learn more about TruChoice, visit www.TruChoiceFinancial.com, or call 800.237.0263. TruChoice Financial can also be followed on LinkedIn, Twitter, and Facebook.

iQuanti: If you're looking for a way to help your budget, debt consolidation is worth considering. With this strategy, you roll multiple debts into a single payment, usually through a personal loan or credit card. Let's take a closer look at what debt consolidation can do for your budget and overall finances. 

Turn multiple payments into a single payment

It can be overwhelming to pay down different debts with multiple due dates. Debt consolidation simplifies the process. Once you consolidate your debt, you'll only have one payment to keep track of and budget for. For some people, this can feel like a weight has been lifted off their shoulders.

Lock in a lower interest rate

Are your debts from a time in your life when you had a poor track record with credit? If you've improved your credit history since then, you may be able to secure a lower interest rate when you consolidate your debt through a loan or credit card balance transfer, which can save on the lifetime cost of your debt. 

Improve your credit score

Another benefit of debt consolidation has to do with your credit score. If your credit utilization ratio is high due to maxed-out credit cards or lines of credit near their limit, a consolidation loan can reduce your credit utilization ratio or how much of your available credit you're using. You may also see an increase in your credit score. Improved credit can open the doors to lower interest rates and more favorable terms in the future. Of course, a temporary boost in your credit score is just a start. Follow through with consistent on-time payments over the long term to make a significant change.

Alleviate stress

There's no denying that debt can cause stress and anxiety. Through debt consolidation, you can take control of your finances and allow yourself to stay on top of a single monthly debt payment, instead of multiple. You'll improve your finances and mental health at the same time. 

Become debt-free faster

If you're able to land a lower interest rate, consolidating your debt may allow you to pay off your debt sooner than you ever thought possible. Once you get out of debt, you'll be able to put your hard-earned money toward other financial goals like saving for a house or retiring. 

When is debt consolidation a smart choice?

There are a number of situations in which it makes sense to consolidate your debt. You're more likely to succeed with this strategy if your monthly debt payments (including your rent or mortgage) don't exceed 50% of your monthly gross income. 

Also, if your credit qualifies you for a low-interest debt consolidation loan or credit card balance transfer and your cash flow continuously covers your debt payments, you may want to take the debt consolidation route. Be aware that origination fees are also a part of your lifetime cost when comparing your options. Additionally, extending your repayment term to lower your monthly payment can actually increase your total cost compared to your original debts.

Bottom line

Debt consolidation is a great option if you're ready to streamline the debt payoff process and improve your budget. It can be the difference between getting out of debt quickly or staying in debt for a while. 

iQuanti: An emergency fund is a savings account specifically for unexpected expenses. Everyone should have one, because you never know when an emergency will happen. A family emergency fund can help cover the costs of things like medical bills, car repairs, or home repairs. Here's how emergency funds work and six steps to take to build an emergency fund so your family can be prepared for anything:

How an emergency fund works

An emergency fund is a sum of emergency money set aside specifically for unexpected expenses or financial emergencies. It's important to have an emergency fund because it can help you avoid going into debt if something unexpected comes up.

How much you should save in your emergency fund depends on your individual circumstances, but a general rule of thumb is to save enough to cover three to six months of essential expenses. This way, if you unexpectedly lose your job or have a major medical expense, you'll still be able to keep up with your bills and avoid going into debt.

How to create an emergency fund for your family

Here are the steps you can take to build an emergency fund for your family:

1. Decide how much money you need to save: This will depend on your family's income and expenses, but you should typically aim to have enough money saved to cover three to six months' worth of living expenses.
2. Create a budget and track your spending: Having a monthly budget will allow you to stay on track and help free up more money to put into your emergency fund. You can choose a budgeting method like the 50/30/20 budget or zero-based budget, or create one that's tailored to your unique financial situation and goals.
3. Set up a dedicated savings account: This will help you keep track of your emergency fund and make it easier to save. Additionally, setting up a separate account means you won't be tempted to spend the money on something else.
4. Automate your savings: Set up automatic transfers from your paycheck or checking account into your emergency fund account. This way, you'll never miss a savings opportunity, and the money will start to add up more quickly.
5. Make catch-up contributions: If you have a month where you can save extra money, put it into your emergency fund. Even putting in a few extra dollars a month can help you reach your goal faster.
6. Review your emergency fund regularly: As your family's income and expenses change, so should the amount of money you have saved in your emergency fund. Review it at least once a year to make sure you're on track.

The bottom line

Building an emergency fund is an important step in financial planning for your family. Having one can give you peace of mind and help you avoid going into debt if an unexpected expense comes up. By taking these six steps, you can ensure that you're prepared for whatever life throws your way.

PPC Flexible Packaging LLC, a leading provider of custom flexible packaging, announces the acquisition of Kansas City, KS-based Plastic Packaging Technologies, LLC (PPT). 

PPC, headquartered in Buffalo Grove, IL, is a leader in printing and converting of flexible films, pouches, and other innovative packaging designs, including prototypes. It is a recognized pioneer in cleanroom packaging for healthcare and medical applications, consumer snack and organic brands, specialty produce, pet, nutraceutical, bakery and horticulture markets. With the addition of PPT, the firm now operates 13 manufacturing facilities in Buffalo Grove, IL, Mission and Kansas City, KS, Rome, GA, Payson, UT, Pewaukee, WI, Colombia, South America, McKinney, TX, Columbus and Alliance, OH, North Salt Lake, UT, and Hartland, WI. Its facilities are AIB, SQF level II and ISO-9001 certified. Founded in 2017 with its first acquisition, PPC provides the highest quality products with best-in-class lead times to service both emerging and recognized brands. 

Founded in the early 1970s and acquired by David and Dan Staker in 2002, PPT has become an industry leader in delivering the highest quality, value-added flexible packaging solutions. The Company has built an impeccable reputation for delivering value through its customer- and people-centric culture providing innovative packaging formats and features with extraordinary service. PPT's products include up to 11-color high-definition printed roll stock films, high barrier laminations and an array of pre-made pouch formats, including flat bottom, box and pinch bottom, stand-up and quad-bags, incorporating a variety of convenience-oriented features and attributes. PPT serves blue-chip consumer packaged goods companies, as well as emerging brands and co-manufacturers, throughout North America. PPT employs 425 associates in manufacturing and distribution facilities strategically located in Kansas City, KS, and Columbus, OH. 

Kevin Keneally, President & CEO of PPC, said, "We've known David and Dan for the entire 20 years of their ownership of PPT and have watched them build one of the most respected, technology-driven firms in our industry. We're thrilled the Stakers, and their entire talented leadership team, are joining the PPC family to merge and integrate our businesses and cultures into what we believe will be one of the most powerfully differentiated flexible packaging converters in North America!" 

David Staker, President and CEO of PPT, said "We're excited to join forces with Kevin and the PPC team. This combination is truly complementary, and solidifies our position as the leader in purposeful, powerful packaging to the pet care, food and beverage, healthcare and specialty consumer markets in North America. This partnership will enable us to deliver even greater value to our customers, with broader and deeper capabilities and capacity, greater technical and financial resources to support continued strong growth, and significant opportunities for our associates to contribute and develop professionally in a fast-growing, robust industry." 

Headquartered in Buffalo Grove, IL, and fueled by GTCR, a Chicago, IL-based growth equity partner, PPC Flexible Packaging has steadily grown and evolved, both organically and through acquisition, into a premier Top 20 flexible packaging manufacturer. PPC is a dynamic team of design and packaging professionals dedicated to providing creative packaging solutions incorporating the latest technologies. PPC's people, along with its capabilities and speed-to-market service, have always been its greatest strengths - establishing it as a trusted leader within the consumer and cleanroom markets.

For some, student loan debt can feel like a weight they can't shake. But with a plan, borrowers can pay off their loans faster and start feeling relief from student loan stress. Here are things to consider and four tips to get started. 

Is paying off student loans early beneficial? 

While there's no right or wrong answer, there are some things to consider before making the decision to pay off your student loan debt ahead of schedule. If borrowers have the financial means to do so, paying off their loans early can save them money in the long run. Early payoffs can minimize the amount of interest accrued and free up monthly income to allow for more financial flexibility down the road.

Of course, there are also some drawbacks to early student loan payoff. For one thing, borrowers may forfeit certain repayment benefits, such as forbearance or federal loan forgiveness options. Additionally, if they have multiple loans with different interest rates, it may make more financial sense to focus on paying off the loan with the highest interest rate first. 

Ultimately, the best way for borrowers to decide if they should pay off their student loans early is to weigh the pros and cons carefully and decide what is right for their unique financial situation.

Ways to pay off student loans faster

1. Student loan refinancing - One way to potentially start paying student loans off faster is to refinance them. Student loan refinancing is available for federal and private student loans. Through refinancing, one could potentially combine their loans and replace current debt with a new loan that offers a lower interest rate to reduce the monthly payment and/or shorten the term. Keep in mind, if one refinances a federal student loan, one will no longer qualify for existing or future benefits offered by the federal government to federal student loan holders. Please consult www.studentaid.gov for the most current information about any federal student loan benefits. Many lenders offer student loan refinancing, so be sure to shop around, compare rates, and be sure to understand all the terms and conditions of the new loan before signing the dotted line. 

2. Automate payments - One of the best ways to ensure that student loan payments are always on time is to set up automatic payments. This way, the payment will be taken from the borrower's bank account automatically each month, eliminating the risk of late payments and added penalties.

3. Make extra payments when possible - If borrowers find they have some extra money coming in (from a bonus at work, for example), they should consider making an extra student loan payment in addition to their regularly scheduled payments. This will help lower the principal balance and in turn, cut down on the amount of interest overall. Even if it's just a few hundred dollars, every little bit helps to pay off student loans faster.

The bottom line

Paying off student loans early can be a smart financial move, but it's not right for everyone. Borrowers should carefully consider their unique situation and all their options before making a decision. Those who decide to go ahead with early student loan payoff can use the tips above to make the process as smooth and stress-free as possible.

All parents and hopeful parents out there know how expensive it is to raise a child. However, it seems to be getting more costly every year. As inflation increases, basic needs are beginning to be out of reach for many of the population, including just the medical cost of delivering a baby in America. Younger generations like Gen Z and Millenials are having babies later and later, if at all, mainly due to the outrageous costs. From education, to housing, to food and clothing to everything in between, the cost of raising a child in America has become astronomical compared to even 30 years ago. Here is a breakdown of what it looks like to have a child in America today. 

What the numbers look like

Birth

Giving birth will cost you thousands of dollars. It might cost around 5,000 for a standard delivery that goes as planned or $14,000 or more for a c-section or if there are complications. You will likely need $60,000 or more to cover adoption fees if you go the adoption route. The cheapest state in the country to give birth is Nebraska, which averages $8,805. Many new parents do not consider the cost of actually giving birth when budgeting for a child. 

Housing

Housing is another thing that only gets more expensive, and it doesn't matter whether you rent or purchase. Many people prefer houses to raise children as they afford much more space than an apartment, but it does not come cheap. 

Food

The cost of food for children has skyrocketed in the past few decades. It might start small when they are young, but it will continue to grow as they do. You need to budget a few hundred dollars every month on food costs to ensure they are getting a balanced diet. 

Education

Where you live, a public school might not provide your child with the education you want them to receive. If this is the case, you need to budget for a private school, which can be as much as college tuition in some cases. In the least expensive states in the U.S., private schools still cost around $4,000 for tuition, while the most expensive ones cost almost $28,000. This is just for tuition, so you will need to add costs for supplies and technology, after-school activities, tutoring, and other programs or clubs they want to attend. 

Then, if they decide to go to a four-year college, those tuition rates can range from $18,000 to $55,000 per year, depending on the school. 

Care

Children need a lot of care, especially when they are babies. You can expect to spend at least $50 a month on clothes alone during their first year. Medical bills can cost thousands out of pocket just for routine examinations and vaccinations. When you need to go back to work, nannies or daycares can be as much as your mortgage, especially in places like Washington, D.C., Oregon, or California. 

What this means for families

Raising a child significantly affects the parent's mental health, careers, and debt. 40% of parents say that childcare costs have caused tensions in their relationship. Make sure you look up the prices of things like daycare before getting pregnant, if possible, to avoid these conflicts in the future. More than half of parents have gone into debt to buy nonessential items or experiences for their children, mainly because they want their kids to have a better life than they did. Finding the balance between financial health and giving your child what you couldn't have is not simple. 

Nearly three in four working parents have had their work impacted by childcare plans falling through at the last minute. Always have a backup plan in the works when it comes to childcare. Children also influence their parents' career choices, as parents need to make more money to cover childcare costs or have a flexible work schedule. Raising a child reaches into all areas of life, far beyond just providing them with a loving home. 

Bottom Line

Raising a family is not an easy task emotionally, physically, or financially, so it is essential to consider what you are signing up for before having children. However, most people with children would not change a thing and find ways to cut back on costs to ensure their kids have a happy and healthy life. If you struggle to pay back debt or get your finances under control, make your free MyCredello account today. 

The search is officially underway for this year's favorite baker. Colossal Management, LLC is thrilled to announce that it will run the 2022 Greatest Baker Competition on behalf of DTCare, a U.S. 501(c)(3) charity.  

The Greatest Baker is an online, public voting Competition hosted by celebrity bakers Alice Fervonia and Sophie Faldo, both finalists from past seasons of the Great British Bake Off. These culinary experts will offer helpful tips throughout the Competition. The Greatest Baker winner will take home the title, $10,000, and a two-page feature in Bake from Scratch Magazine. 

Greatest Baker will be operated as part of a fundraising campaign on behalf of DTCare. Donations from votes cast during the Competition will go directly to DTCare, which will then grant the donations, minus Competition fees and costs, to Andrew McDonough B+ Foundation, whose mission is to provide financial and emotional support to families of children with cancer nationwide and fund cutting-edge childhood cancer research.

The Competition is sponsored by three companies that are giants in the baking space: Silpat, the maker of a range of non-stick mats and molds that allow bakers to make any kind of pastry or savory dish; Bob's Red Mill, a 100% employee-owned company that makes more than 200 products, including whole grains, stone-ground flours, oats, baking mixes, snacks, and more; and Twinkle Baking Decor, run by a team of passionate bakers who produce a wide selection of gluten-free and nut-free products ranging from sprinkles to frosting. 

Anyone interested in registering or learning more about the Competition or prize can visit greatestbaker.com. Public voting opens on Monday, Oct. 24, 2022. 

Childhood Vaccination

The following is an open letter from We The Patriots USA, Inc.:

Just hours ago, the Centers for Disease Control and Prevention (CDC)'s Advisory Committee on Immunization Practices (ACIP) voted to add the COVID-19 shot to the CDC's childhood immunization schedule. According to We The Patriots USA Vice-President and Co-founder Attorney Brian Festa, the implications of this are staggering. "The shot will now be shielded from civil tort liability under the National Childhood Vaccine Injury Act of 1986, which eliminated recovery through the courts and established the so-called 'vaccine court', allowing only limited recovery under the National Vaccine Injury Compensation Program," Festa explained. "This means that you cannot file a product liability lawsuit against a vaccine manufacturer if your child suffers injury or death from a shot."

Festa added that another consequence of today's vote is that this shot is likely to be added to the list of "immunizations" required for school attendance in many states. Many state legislatures have adopted the practice of mandating that students in school receive every vaccine on the CDC's childhood schedule. This especially affects states like California, New York, Maine, Connecticut, Mississippi, and West Virginia, where no personal belief or religious exemption to school vaccination mandates exists. 

SO WHAT CAN BE DONE ABOUT IT?  

1. SIGN THE PETITION TO MAKE DISCRIMINATION BASED ON VACCINATION STATUS ILLEGAL, AND ASK EVERYONE TO DO THE SAME.  

If We The Patriots USA's petition to Congress is successful in its end goal of amending the Civil Rights Act of 1964 to make vaccination status discrimination illegal, no school would ever be able to deny a child an education simply because that child has not received one or more shots. No employer would ever be able to fire someone for refusing a shot. No airline, restaurant, hospital, or any other business could refuse service to someone because they did not receive a shot. Please sign the petition today.

2. DONATE TO WE THE PATRIOTS USA SO THEY CAN EXPAND THEIR LEGAL EFFORTS AND FIGHT BACK IN COURT

As noted above, it's nearly inevitable that some states will pass legislation to add this shot to the list of shots required for school attendance. This is likely to include not just students in Grades K-12, but college and university students as well. We The Patriots USA will need to file legal challenges in response to any such legislation. While the CDC maintains that the COVID shots are safe and effective, data has recently emerged showing evidence of adverse effects in young people especially, such as myocarditis. Please consider a donation in support of We The Patriots USA today, so they are ready to fight back at a moment's notice. Litigation is slow business, so they want to be able to file lawsuits immediately after these laws are passed.

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