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business Thursday 23 June 2022
Millennial Money: 4 items for your midyear money checklist

By LAUREN SCHWAHN of over time,” he says. 4. EXAMINE YOUR TAXES
NerdWallet Be aware of end dates for AND BENEFITS
A lot can happen in six loans in forbearance. For Welte recommends using
months. That’s why, as we instance, federal student an online tax calculator to
close out the first half of loan payments will resume check whether you’re with-
the year, it makes sense to on Sept. 1, barring another holding too much or too lit-
check in on your financial extension. tle. This can help you avoid
life. “At this point they have getting hit with a big tax
“With inflation, I think peo- been on pause for nearly bill unexpectedly or miss-
ple this year are more two years,” Dall’Acqua ing out on extra cash you
heavily impacted than says. “So if that money has may need now. “If you do
they probably have been gotten lost within (peo- the math and you’re going
in many years leading up ple’s) overall spending, it’s to get a $6,000 tax refund,
to this point,” says Jason going to be a big shock it would be a great time
Dall’Acqua, a certified fi- In this June 15, 2018, file photo, cash is fanned out from a wallet when they then have to re- to change your W-4s, get
nancial planner and found- in North Andover, Mass. sume paying.” more money in your pock-
er of Crest Wealth Advisors Associated Press Setting aside money now et now to pay for these
in Annapolis, Maryland. “So in a separate savings fund excess costs that are com-
it’s a good time to see how be changed. So it’s just re- as much toward retirement can help soften the blow. ing up with inflation rather
things have been going ... ally resetting and figuring or an emergency fund as 3. PLAN HOLIDAY SHOP- than waiting until next April
as well as plan for what lies out where you stand today you planned? Are you on PING to get that refund,” Welte
ahead in the remainder of versus where you thought track to pay off debt? Inflation could make holi- says. If you need to make
the year.” you were going to stand 2. DEAL WITH DEBT day gifts a little pricier this adjustments, fill out a new
So where should you start? today,” says Kayla Welte, Debt is becoming more ex- year. Create a shopping list Form W-4 (you can find this
Add these four items to your a CFP with District Capital pensive to carry due to ris- and think about how much on the IRS website) and
midyear money checklist. Management who lives in ing interest rates. Pay down you can afford to spend. submit it to your employer.
1. REVIEW YOUR INCOME, Denver. Look for opportuni- debts sooner, particularly “Figure out what that would While you’re at it, evalu-
EXPENSES AND GOALS ties to scale back if you’ve those with variable interest require for you to start sav- ate your employee benefit
You don’t have to tally up spent more than anticipat- rates, to save money. These ing on a weekly or monthly selections. These benefits
every penny you’ve made ed. For example, you can debts might include credit basis and start putting that can include health insur-
and spent over the last six dine out less or cancel sub- cards, personal loans or money aside right now,” ance, life insurance, health
months. But taking a few scription services you rarely adjustable-rate mortgages. Dall’Acqua says. savings accounts and flex-
minutes to check a bank or use. “Any excess spending Concentrate on reducing Starting on shopping early ible spending accounts,
budget app can help you that you’ve been doing, your highest-rate debt first, can also help you manage plus perks like gym mem-
better understand your fi- you may have to cut down then move on to the next the cost without accruing berships. Reviewing your
nances and course-correct to account for this high- highest. Dall’Acqua also debt. Many retailers host choices in the summer can
if necessary. er cost of things that you suggests switching from major sale events in the prevent you from becom-
“Right now with inflation, absolutely have to buy,” variable-rate to fixed-rate summer, so you’ll find dis- ing overwhelmed in Octo-
even if you had a budget Welte says. options by refinancing, if counts well before Black ber and November, when
back in January, it proba- If you set money resolutions possible. “If you can lock in Friday. Amazon’s Prime open enrollment begins for
bly is not the same as it is to- or other financial goals the fixed rate now, you’re Day is coming in July. So is most companies, says Joe
day. There are some things earlier this year, check on likely to be saving yourself the Nordstrom Anniversary Bautista, a CFP in Lake Os-
that are going to need to those too. Have you saved significantly in interest costs Sale. wego, Oregon.q

Labor board takes Starbucks to court

over alleged violations

By DEE-ANN DURBIN saying its stores function U.S. stores, including offer-
AP Business Writer better when it works direct- ing benefits to non-union
The National Labor Rela- ly with employees. stores, threatening reprisals
tions Board is asking a fed- The NLRB’s regional direc- for employees who sup-
eral court to order Star- tor in Buffalo, New York, port unionization, refusing
bucks to stop interfering filed the petition Tuesday to bargain with stores that
with unionization efforts at in U.S. District Court in west- have voted to unionize and
its U.S. stores. ern New York. It asks the temporarily or permanently
It’s the third time the board court to order Starbucks to closing stores.
has filed a case in federal reinstate seven Buffalo em- Earlier this month, Star-
court against Starbucks ployees it says were unlaw- bucks announced plans Pro-union pins sit on a table during a watch party for Starbucks’
since December, when a fully fired for trying to form a to permanently close a employees union election, Dec. 9, 2021, in Buffalo, N.Y.
store in Buffalo, New York, union. It also seeks to force store in Ithaca, New York, Associated Press
became the coffee chain’s Starbucks to bargain with a that had voted to union- problems at the store. sets, promising higher pay
first location in decades to store whose union election ize. Employees at the store In its petition, the NLRB al- and better benefits if they
unionize. Since then, more was allegedly tainted by said the company is retali- leged Starbucks commit- didn’t unionize and inter-
than 289 U.S. stores have Starbucks’ repeated anti- ating for their labor activ- ted numerous violations rogating them for wearing
petitioned the NLRB to hold union activity. ism. Starbucks, which oper- of U.S. labor law in Buffalo, union pins.
union elections and at least But more broadly, the peti- ates 9,000 U.S. stores, said it including surveilling em- A message seeking com-
151 stores have voted to tion asks the court to order opens and closes locations ployees about unionization ment was left with Seattle-
unionize. Starbucks oppos- Starbucks to halt a vari- regularly and based its de- plans by listening in to con- based Starbucks Corp.
es the unionization effort, ety of activities at all of its cision on staffing and other versations on their head- Tuesday.q