Laundry might be the least of your problems but the national coin shortage is sure to have an impact on you somehow.
Whether it’s happening at fast-food restaurants, supermarkets, or banks, people across the country are finding themselves cut off from the typical change in hand occurrences of the days before the Coronavirus Pandemic.
That’s right, be warned: coins are in short supply.
According to NBC, the task force will work to “mitigate the effects of low coin inventories caused by the COVID-19 pandemic.” Twenty-two members of the task force were announced last week on Friday and will meet this month in an effort to identify “actionable steps that supply chain participants can take to address the current coin circulation issue.”
According to an article by NBC the national shortage is a situation “born out of the pandemic, during which businesses that deal heavily in coins, such as laundromats, may have closed, while the fear of getting the coronavirus by touching currency may have spurred people to avoid physical monetary transactions altogether.” It is a direct result of state and city lockdowns which saw the operation of nearly 22,000 coin-cashing kiosks nationwide slowed down.
As a result, some businesses are cautioning customers that they won’t be able to give out change.
Others have rounded out prices to exact amounts. This works for now because paper bills are not in short supply. As of yet…
On the other hand, things might not be so bad.
According to CBS Boston, some smaller retailers are opting for some lucrative solutions for their customers. A beer shop in Bend, Oregon called The Growler Guys recently told customers on Facebook that it will pay them $1.05 for every $1 in rolled coins they bring in to the store.
Saving money and investing it properly is tough. It is hard to know where to take your money to make the most of it. Fortunately, FIERCE is here with another chat with a money queen to make sure that you get the most of your money.
Jully-Alma Taveras is here to help you reach your money-saving goals.
Saving money is tough. How much should you set aside? Where do you keep it to make sure it is safe? When should you start? Taveras started Investing Latina two years ago to help people figure out the best way to start their savings journey. There are a lot of things to save for from retirement to big purchases to emergencies. Here is some of what Taveras had to say when our very own Sam sat down with her.
Sam: “Let’s talk about savings. What would you recommend people do to start saving today?”
Jully-Alma Taveras: “Savings is kind of the beginning of it all, right? It’s kind of where we start laying down the bricks and foundation to our financial house. When I say laying down bricks, that’s really what I mean. I mean that they are small and heavy but they build up. That’s exactly how you have to think about how you start saving. It really starts small. Nobody starts with $10,000 in their savings account. Nobody. Everybody starts putting in $25 per week. Fifty dollars per month. Whatever it is that you can do. You have to be able to just kind of put it aside.
“I always recommend using a savings account first. Your core savings account at a bank that you can easily access if you needed to access your savings and then having a bulb of savings to a high-yield saving account so that you can also use the technology that exists right now with high-yield savings accounts. You can have little envelopes so you are saving for designated things. You can save for specific goals.
“I think that when it comes to savings, you really do have to set a big goal for yourself, and then you kind of start working backward. Then you’re like, ‘Okay. My goal is to save $10,000 in 2021. That’s what I want to get to. I want to be able to have my 1,000 immediate little emergency need savings account with just $1,000 and then I want to have the rest into a high-yield savings account where I can really start building my money confidence. That’s what happens when we start saving money.”
S: “One of the things I know that we started chatting about was high-yield savings accounts. Can you go into some more details about what exactly that is for everyone?”
JAT: “When we talk about a high-yield savings account, it really is a way for you to put savings into a bank or institution, or nowadays it’s really just an app sometimes. You put it in a place, secure place that’s FDIC-insured place, where you can get a higher interest rate than what typical savings accounts offer. When you open up a checking account, you’re automatically, or usually going to get the option of opening a savings account with our bank. The retail banks that we typically use, the ones that we can walk into, that we can have ATM cards you can easily access and have teller access are usually positioning themselves where they offer retail services.
“What happens with that is that they don’t give you a lot for holding onto your money. They’ll offer something like a free checking account or a free savings account. They won’t charge you for it depending on what category you’re in, especially teens or if you are in school. You can definitely get a free checking account. But, they won’t give a higher interest rate than likely .02 percent. What a high-yield savings account offers is a higher interest rate. These are usually with banks that you don’t normally see as you walk down Main Street in your neighborhood. We aren’t talking about the Chases the TD Banks the Citi Banks, right? These banks that we know and are familiar with because we see them on Main Street. We see them in our neighborhoods. They’re not typically going to have a high-yield savings account. They want you to just use their services, their savings accounts, and their checking accounts. That’s it and they’re just going to be happy holding on to your money while you transact and do what you have to do with your money.
“With high-yield savings accounts, those are typically going to be with banks that don’t have retail stores. Some examples are Marcus by Goldman Sachs. SoFi, which is one of my favorites because of the tech that they’ve implemented in their app and their website. Ally Bank. These are banks that we typically won’t see actual physical banks of but they do exist online.
“What they do, mechanically, just so you kind of understand what happens when you put money into a high-yield savings account, is truly, they’re actually, putting all of our money together and they’re kind of investing our money behind the scenes. That’s what happens. You have the security of your digitized dollars and you will never lose it because it’s not an investment account.
“That’s basically what’s happening. Just so you know. You can feel safe that your money is there. It’s FDIC insured or it is completely insured up to the $250,000. That’s typically what we get insurance on. Then you also make a little extra so you make a couple of dollars every month.”
Taveras has so much more to say about saving and investing. Watch the full video below!
Almost a year after her father Kobe Bryant passed, Natalia Bryant is gearing up for college and celebrating her life in progress. On Tuesday, to celebrate her daughter’s 18th birthday, Vanessa Bryant showered her daughter with tributes and words of wisdom in an Instagram post.
Vanessa posted a handful of tributes to Natalia on Instagram, including old photos of the 18-year-old her father, Kobe.
The late LA Laker, who died last year on Jan. 26 with his 13-year-old daughter (Gianna) and several others in a tragic helicopter crash, could be seen in the photos. In one of the images, Vanessa and Kobe held baby Natalia in an image taken on the Los Angeles Lakers court.
“Daddy’s little princess, Natalia. ❤️🎉🎂🎉#18#BirthdayGirl,” Bryant captioned one of the photos.
In another post, Vanessa expressed how proud she was of the woman Natalia has become.
“Mommy and Daddy are so proud of the young lady that you are. You have displayed so much strength and grace throughout the most difficult year of our lives,” she wrote in the post. “Thank you for stepping in to help me with your little sisters. You’re such an incredible big sister and a beautiful role model to so many people. Thank you for being kind, polite and gracious in everything that you do. You have no idea how happy and proud mommy and daddy are that you’re our daughter. We love you always and forever, forever and always. Happy 18th birthday to our first born, Natalia, our principessa!”
Last week, Bryant revealed that Natalia has college on the mind.
In a separate post shared to Instagram, Vanesa revealed that her daughter has New York on the mind when it comes to getting her Bachelor’s. “NYU is one of her top schools. (@nataliabryant chose not to apply ED to her top 5 schools). I will do my best to keep her in Cali just like I kept her daddy here,” she commented.
There’s no doubt that in the wake of her husband Kobe Bryant and daughter Gigi’s deaths, Vanessa Bryant and her family have received quite the outpour of support from fans. Look up just about any hashtag with their names and you’ll find hundreds of thousands of images of the two deceased Bryant family members and just about as many fan accounts. The images and tributes have meant to be a eulogy to the two basketball players that lost their lives too soon.
Yet, recently Vanessa Bryant revealed that the ongoing support hasn’t always been so positive for her.
In June, Vanessa Bryant opened up about having to take action and remove herself from all the social media love she and her family have received in the five months since her husband and daughter’s deaths.
In a post to her Instagram page, the mother of four, sent a note to fans to let them know that she and her 17-year-old daughter, Natalia, had decided to block fan pages in an effort to keep away from the constant pictures of Kobe and Gianna popping up on their “Explore” pages. In her post, Bryant underlined that she was only blocking the accounts to make sure she was continuing to heal and that it was not being done out of malice.
“Thx so much for all the [love]. @nataliabryant and I have unfortunately had to block fan pages because it’s been really hard to go online and constantly see pics of our beloved Gigi and Kobe under every single square of our explore pages. Blocking the fan pages has helped change the algorithm,” Bryant wrote in a post to her Stories on Instagram.
Vanessa continued to explain that “We [love] you all but please understand that we had to do this for our own healing not because we don’t appreciate your [love].”
Bryant’s Instagram page was made to be private soon after her husband’s death likely for similar reasons.
In a separate Instagram story to her own account Vanessa’s daughter Natalia shared, “We hope that people understand although these fan pages have good intentions, they make moving forward harder since they are constant reminders. Blocking the accounts have helped change the algorithm but we can not go public until the fan pages stop. We love all of your sweet intentions and we hope you understand.”
Understandably, Bryant and her daughter are sheltering themselves from further hurt during this time.
Here’s hoping their fans continue to support them through this decision and understand their motives. Fortunately, while Bryant and her daughter Natalia have made their accounts private, they are still making their content available through other pages. Recently, Bryant revealed that she had decided to pay tribute to her late husband and daughter Gigi by commemorating their lives with tattoos.
Last week, Bryant took to Instagram to reveal she’d made the decision to honor her husband and daughter with two new tattoos.
Both images were shared with the public via Nikko Hurtado, the artist behind Vanessa’s ink work.
“Shoutout to @nikkohurtado for coming over and helping me get my Gigi’s sweet message transferred on me,” she wrote in a caption to her Instagram page featuring a video of her new tattoo honoring her daughter. The details of the tattoo aren’t totally visible but in the comments, Bryant revealed that the tattoo features her late daughter’s handwriting. “So happy I can see my Gigi’s handwriting everyday ❤️ #mambacita,” she replied.
Bryant also shared a video of herself receiving another tattoo, this time for Kobe.
In a post to her Instagram page, Bryant shared another video of herself. This time the video revealed that she was actively receiving a shoulder tattoo that is meant to honor her husband.
“I wanted my boo boo’s @kobebryant sweet message transferred on me,” Bryant explained in the caption of the photo.
For fans of the Bryants it’s important to note that while Vanessa and Natalia aren’t looking at fan accounts, the art is still available for you to view if it makes you feel better during this time.
Additionally, fans who want to keep up with Vanessa and Natalia and see how they continue to heal can follow friend accounts or stay in touch with us for updates!