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10 Money Saving Tips for Creatives

**10 Money Saving Tips for Creatives**



View Time:7:35Minutes



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It is time to talk about one of my favorite topics in the world, angora bunnies. No! I’m kind of kidding. We’re here to talk about saving! Woot Woot woot! 

These are some ideas for you to consider when it comes to saving money! You may know some them, some of these are obvious, but hopefully some of them will be new to you so that you can save a little bit of extra cash, invest it, and hopefully it can lead to more financial freedom in your life. 

So let’s jump straight in: 

Eat before you actually go out. This one is a little obvious but with this tips, you’d probably end up spending less when you go out with friends to eat.

Buy secondhand or refurbished. My computer right here was purchased second hand. I bought it form apple’s refurbished website( where you can save a couple of hundred bucks purchasing refurbished items that works just as good as the new product. I’ve also purchased most of my camera gear second hand such as my Sony A7S II, lenses, Smallhd screen, and lights. I’ve been able to save a ton from just doing this.

Meal prep. A lot of people when they come home from work, they just feel super tired and don’t feel like cooking an entire meal. I mean don’t get me wrong I enjoy cooking but I don’t always feel like starting the whole cooking process when I feel tired. This is where meal prepping comes in handy. So when you go to the grocery store, just buy a couple of extra ingredients that you can use to cook a couple of extra meals for your week.

Wait before buying. When you’re about to make an impulse purchase, stop yourself, and ask do you really really need this. Does this add any value to your life? And this is especially for expensive items! What I recommend is making yourself wait AT LEAST 24-48 hours before making that decision.

Drive less. All I’m talking about is to try not to use your car as much. Are you having to spend a ton of cash on gas every single week? Is there public transportation available in your city?

Buy in bulk. When you buy things in bulk, the cost per unit goes down. If there are things that you tend to spend a lot of money on such as rice, beans, toilet paper, paper towels, and toothpaste then it’s best to buy them in bulk this way your cost per item goes way down.

Declutter your stuff. Marie Kondo your life baby! Dig around your room, garage, and attic and start to get rid of stuff that you haven’t used in the past year or two.

Bargain. Duh Mika that’s obvious. But I hope that this is a good reminder for you. Try not to pay the full price for anything unless it’s your only option.

Renegotiate your bills. Now this isn’t something that you can do with every single bill but I’ve been able to do this my internet bill.

Educate yourself through reading books, blogs, and watching videos of what’s worked for other people and how you could apply those methods to your life. Obviously there are thousands of ways that you could be saving money at this moment but most of the ways that I’ve discovered have been through just researching and also asking my friends what’s worked for them.
hello hello hello everybody hope you guys are doing well it is time to talk about one of my favorite topics in the world Angora bunnies nope it is about saving money these are some ideas where you can save a little bit of money in areas that you didn't think you could some of these ideas are fairly obvious and just good reminders but some of them may be new and if they are new I hope that they help you save money invested so that you can have more financial freedom in your life so let's jump straight in this may be obvious but eat before you actually go out if you're planning on eating out with some friends it may be a good idea to just eat at home and then maybe have a snack or to know when you're out with your friends so this tip may help you save a ton of money just by simply eating at home and then when you do meet up with your friends just grab a snack or a drink or something tip number two buy second-hand or refurbished now this computer right here was bought refurbished on the Apple website if you guys didn't know Apple has a page on their website where you can buy some of their refurbished equipment I will put a link below it is not an affiliate link god mica stop puttin affiliate links everywhere so on the website you can find a bunch of refurbished products where you can save a couple hundred bucks on computers or iPhones and actually save a bunch of money I've also purchased most of my camera gear refurbished so like my sony a7s – my lenses and some of my lights I've been able to save a bunch of money doing this refurbished basically means that a customer bought a product where maybe they were unhappy with the product or there was a technical problem so they send it back to the company company fixes it does all the new parts and then just puts it back in the market as a refurbished item tip number three is to meal prep a lot of people when they come home from work sometimes they just feel super lazy and tired and they don't want to cook a meal so guess what they do you go out and eat cheap food fast food or do-over eats or something and you actually spend the point more money then you could've just by cooking at home don't get me wrong I personally enjoy cooking I think it's super fun and actually therapeutic and also a good learning experience but some days I just don't feel like cooking at home that's where meal prepping comes in handy so when you do go to the grocery store just buy a couple of extra ingredients that you do enjoy eating and just make a couple of extra meals maybe just try to batch cook five meals at a time or six eight or ten challenge accepted by my fiance and I enjoy doing this because we can figure out what nights we can eat at home and then what are some other nights we can maybe go out with this you don't really save money but you also save a bunch of time meal prepping also holds you back from using services like uber eats or post mates because when you're tired you're going to try to find the easiest way to get food but if you choose to meal prep you can avoid eating junk somewhere else and eat healthier food and also save money tip number four is to wait before buying when you're about to make an impulse purchase stop yourself for a minute and ask why do you really really really really really really need this right now does this thing that you're about to buy add any value to your life and this is especially for expensive items I would recommend waiting 24 to 48 hours before you make that final decision also you don't have to apply this method to every single purchase that you have such as buying a cup of coffee or angora bunny but maybe things that are over a hundred bucks or two hundred bucks I hope this encourages you to get out of the impulse mindset and more into a relaxed in controlled mindset to where every time you're about to make a purchase you ask yourself do I really need this are there other things you could be putting that money towards such as saving and investing or giving it to someone in need those are really good questions to ask before you make that impulse purchase tip number five is to drive less I'm not talking about drive less cars but dude less driving I'm basically trying to say is to not use your car as much are you having to spend a ton money on gas every single week with owning a car you don't only have to pay for gas but you know you have to pay for your insurance and for your oil changes and tire changes and a bunch of other unexpected repairs that come up over the years from my experience I think I saved about 20 bucks a month last year just by deciding to work from home and not going to coffee shops or not going across the city to some other spot but just staying at home and getting the work done tip number six is to buy in bulk if there are things that you tend to spend a lot of money on such as toilet paper toothpaste rice and beans and angora bunnies then it's best to just buy them in bulk because the cost per unit goes down tip number seven declutter your stuff start digging around in your room garage or attic and get rid of a bunch of stuff that you haven't used in the past two years a lot of times you're just holding on to items that are just getting devalued as time goes on so it's just best to just sell it and get rid of it and save the money and then once you save that money invest it and make that money work for you there's a billion websites where you can just sell your stuff like Craigslist or Facebook marketplace and also local places like Buffalo Exchange where I've taken a bunch of my old clothes and gone cash for tip number eight is to bargain I come from a third world country so bargaining is literally woven into my DNA when you're about to buy something try not to pay the full price unless it's your only option nowadays you can just look up the price of anything online and use that to make the best decision if you're buying something on Craigslist or Facebook marketplace just try throwing a lower number and see how the seller responds a lot of times if the cell is trying to get rid of the item quickly they may just be prone to selling it at a lower price tip number nine is to negotiate your bills now this isn't something that you're able to do with every single bill but I have been able to do this with my internet bill right now at this moment you can pick up the phone call your service provider and negotiate your bill just let them know that you're gonna cancel your plan unless they come down on their price so recently my internet bill skyrocketed by like 40 bucks a month and I picked up the phone and call them and was like hey I'm gonna cancel this plane I'm not about to pay a ton of money for my internet bill and what ended up happening was that they ended up giving me a lower price and also giving me faster internet this is crazy it does work guys you should do it tip number 10 is to educate educate yourself by reading books blogs and watching videos and seeing what's worked for other people and what hasn't what are some of those methods they can incorporate into your life obviously there's a billion ways to save a bunch of money such as not buying angora bunnies in bulk but a lot of the methods that I have learned and have incorporated into my life have just been through research and through reading and blogs and videos and seeing how other people have worked towards financial freedom so like I said in the beginning of this video I hope some of these methods have been good reminders and some have been new that you can work into your life all I want for you is to save a bunch of money invest it and just have financial freedom so you can do the creative things you want to do if you enjoyed watching this video and found it helpful please comment give me some feedback like and subscribe and then share with your friends too thank you guys I really appreciate you for watching this I'll see you soon

how to save money fast on a low income

**how to save money fast on a low income**



View Time:43Minutes



professorsavings.com ( a simple way to learn finance on youtube.

Low Income Budget — A guide

It can be hard living for a family to live on a limited amount of income. While life may throw some hardships to make life move ahead, there are ways to be able to pay the expenses and get the necessities required for living. Here are some tips to learn how to live on a low income budget, and still enjoy a comfortable life.

 Life insurance is not only for the wealthy! On the contrary, a person with low-income need should also buy a policy just as a well-off person. There is no reason to postpone purchasing a policy even if one is on a low budget. The benefits of some low premium insurance policies offer a decent coverage and financial protection for the family. Term life insurance policy is a simple policy for tight budget persons.

 Household budget is a good practice for a low income family because a budget helps to give a financial picture of how the family is doing even when your financial picture looks the darkest. The income and the expenses need to be balanced. If the expenses are more than the income, expenditure has to be cut.

 The needs and wants of the family have to be distinguished. There are some obvious items are cell phones, housing, electricity, water, telephone, TV, groceries, education and other household expenditure. Entertainment should be a part of living, but decision should be made by enjoying at the minimal cost and by using discounts or free passes.

 In case, after reducing all expenses still the budget runs above income some steps need to be raise income. Working from home or taking up a part time work can be helpful to a certain extent.

 Cut back on the amount of energy you use in your home. Use energy efficient light bulbs, and always turn off lights after leaving a room.

 Shop at second hand stores for any clothing that your family may need and buy only what is required.

 Collect some money in a fun jar by putting in the small change… This money can be used to treat for dessert, dinner, a movie, or something that the family would like to have. While income may be low, you can still enjoy something fun and entertaining along with the life’s hardships.

Tips for low income budget

Distinguish between needs and wants.
Save a small amount regularly
Prepare and follow the budget Thanks for watching. Please help us grow.

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Hi! Blair with Professor Savings here, with tips
on living with a low income budget. It can be hard living for a family to live
on a limited income. But, there are ways to pay the expenses and
have all the necessities required for living. Here are some tips to learn how to live on
a low income budget: • Distinguish between needs and wants. • Save a small amount regularly. • Prepare and follow the budget. Read more tips on living with a low income
budget in the article below. And, be sure to subscribe to our channel for
more of the financial tips you need.

How to Get The Best Cargo Insurance (4 Myths Busted)

**How to Get The Best Cargo Insurance (4 Myths Busted)**



View Time:19:52Minutes



As an NZ importer or exporter, you’re no doubt always on the lookout for ways to save money. But there’s one place you shouldn’t be skimping on, and that’s cargo insurance.
↓↓↓ Click SHOW MORE to learn the rest ↓↓↓

● Situations When You May Be Getting the Wrong Type of Insurance
● 4 Common Myths About Cargo/Freight Insurance
● Simple Steps to Check That You Have Everything Done Correctly
● Q + A: Type Your Questions Now (or During the Live Talk) to Feel Confident With Importing/Exporting Your Goods

01:25 – Use Appropriate Type of Insurance
04:03 – Take Care of Insurance in Advance
05:36 – #1. Having Insurance from a Transport Company Is Enough
14:11 – #2. Supplier Provides Free Insurance
16:02 – #3. Insurance Is Expensive
17:10 – #4. No Problems with Getting Insurance Later
17:43 – How To Check that Everything Is Correct?

● Maxim Sherstobitov, the freight manager & co-founder of EasyFreight.co.nz
● Maxim has successfully organised over 10,000 import/export shipments through all New Zealand sea & airports. From clothing and building materials to vehicles and foodstuffs, you name it; his team has done it.

● NZ customs –
● NZ MPI –
● NZ Ministry of Business –

❗ Post your questions or ideas in the comments now.

👉🏻 Learn other tips on our website

🔔 Subscribe now, so you do not miss the next show ➜

👥 Join Importers & Exporters FREE Facebook “private” group –

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#NZCustoms #NZBusiness #NZEntrepreneur #NZImporter #NZExporter #Auckland #AucklandCity #AucklandBusiness #NewZealand #NZMade #MadeInNZ #NZFreight
hi my name is max from ez freight and customs brokers and today you will learn how to get the best car insurance and for me you have to ignore we cover topics like situations when you may be getting the wrong type of insurance for me about freight and cargo insurance you have to ignore and simple steps to check that you have done everything correctly obviously you feel free to type your questions down in the comments below and I will read every single one if I miss something please type it again because I have a lot of inquiries coming through during the live talk if you want to learn our other business tips then make sure you subscribe to this show because we have different guests and different topics every single week welcome to the show of business owners how to go to you buy is afraid of hold or inject while this information in the webinar is based on real-life examples and practical and useful we advise its of general knowledge and you have to talk to a specialist because your situation is going to be different and our team would be happy to help you and answer any questions so feel free to contact us anytime first of all please type in the comments whether you import or export just one word import or export so I get a general feeling of were you interested in let's start with the first topic and we talk about situations when you may be getting the wrong type of insurance well for you you may be getting one type of insurance and you would think it should cover everything in the insurance world the brokers and insurance companies they've got different products for different situations for example if you've got a fragile type of car gong then you should declare it as fragile and you have to make everyone aware that you've got a fragile type of goods because why you may have to pay a premium a bit extra for fragile because there is more risk obviously when you try to save money and use a different type of insurance for non fragile goods you may be getting your claim declined because as most importance and exporters now insurance is a business and they are like everyone else is trying to make a profit therefore they will legally not obliged to pay you out if they see use the wrong type of cargo in the wrong type of insurance so you have to double check it's better to ask it's free to ask the insurance broker the customs rock or freight fora is this the correct type of cover for your particular goods another thing to keep in mind that afraid for our Oh a customs broker they have a lot of experience with insurance and different products the manufacturer the supplier or the buyer of the goods is going to be the best person to know is this fragile or is it and non fragile goods it's on the buyers to declare the right type of goods the insurance company and a broker afraid for they would be happy to take your money and they will use your words your declaration but when there is a claim which doesn't happen often hopefully your goods arrive in a good condition and in our situation we don't have a lot of claims because we handle it properly from the beginning but if there is an unfortunate situation and you have something's been damaged and it's a big claim say $10,000 or $20,000 or even talk $5,000 the insurance company they may want to do an inspection and they will check was it declared properly on the documents and if it doesn't match then you may lose the whole payout if you want to save $50 or if it's just a genuine mistake it's still your responsibility to make sure you use the correct type of insurance Kalyn we have a question when do you think is the right time to arrange the insurance for import Calgon thank you for the question obviously the sooner the better most insurance companies nowadays require you to arrange the insurance before it leaves the supplier and you also have to read the contract between you and your supplier it will explain who is responsible for the goods at what point based on ex-works shipping terms your responsibility becomes when it leaves the supply is factory so as soon as it leaves the factory you have to have the insurance in place and because it takes at least one or two days to arrange and discuss everything we suggest to do the insurance at least one day before the dispatch so you know the budget you know how much it's gonna cost and you have time to check the insurance policy and I remind you while an insurance broker or freight forwarder or a customs broker they will arrange the insurance for you it is your responsibility to check the insurance policy you have to read if you want to be right in many cases you have to double-check and read that you've got the the correct description of the goods then you have to check the correct insured amount because some people who could declare the wrong currency could be vanishing on dollars instead instead of pounds or instead of euros and you will get less payout if there is an accident so it's your responsibility to check all the documents in advance and it's better to do before it leaves the factory feel free to type any other questions do I have to buy insurance if using a courier company to deliver my goods it is a common misconception that you don't have to buy insurance if you use a transport company whether it's a local company or an international company while they do have an insurance camera and insurance cover it is a limited column and it depends on the contract it it depends on the transport companies for the argument's sake you should keep in mind that the limit is for sea freight is around 500 US dollars per package so whether it's a pellet a cotton or a box or a crate whatever you declare on the transport document is gonna be your limit so if you've got two items declared on the transport documents then transport limit thousand dollars after thousand dollars even though your value of the goods is ten thousand dollars their limit is one thousand dollars and it depends on the company that you use different companies have different limitations and for air freight it's around twenty US dollars per kilo so if it's hundred dollar a hundred kilos then the limit is hundred times $22,000 if my math is correct this is the case when insurance will help you because you can increase the value of the insured amount it has to be a market value say if the true value of the goods is ten thousand dollars the limit of the courier company is two thousand dollars so you will get the payout of ten thousand dollars you have a full cover but you can't and you shouldn't declare more than the market value of the goods because if you insure it for $20,000 some insurance companies may decline and pay you only the true value of the goods so you just paying too much thank you for the question if you've got any other questions feel free to type them now in the comments and I will read every single one if I miss anything please type it again if you enjoy this kind of information please subscribe and you will get the next one delivered to your inbox next week let's discuss another situation when you may be getting the wrong type of insurance some of our clients in the past imported vehicles that could be a motorbike could be a car anything that has an engine most likely will be classified as a vehicle and some imported or exporters they bought the wrong type of insurance because they declared as general caca or as fragile goods and it's not correct because the correct insurance type is a vehicle and once again when you've got an insurance claim you may not you may not get the payout because the insurance premium is different for vehicles and you have to complete a different set of documents for vehicles it's important for you to ask the insurance broker you can send them all your paperwork and double check is it insured properly we have another question can you please outline the documents and details required to issue the insurance certificate the most common required documents are the commercial insurance which will display the value of the goods another thing that you will have to provide to the insurance broker or freight forwarder is what are the shipping costs because while their value of the goods could be ten thousand dollars you have to add the shipping costs say one thousand dollars and then on top of that the best industry practice is to add another ten percent to get the full cover and get a payout so in total based on these figures the insurance amount will be around twelve thousand dollars because if something happens and you completely lose your boots you want to get your goods again right so you want to get the full car door-to-door you want to get the shipping payment as well so you don't have to pay for the shipping again therefore you have to add all costs from start to finish including the value of the goods to get the full benefit if you are confused with the formula one of our team members would be happy to do the calculations for you and we would offer the several options because in certain situations you can save money by getting and an excess when you have to pay the first say five hundred dollars to the insurance and then you get the difference back in your pocket in these situations the insurance company they don't have to pay for small claims up to say five hundred dollars but they will help you with the bigger claims and it's bad it's gonna depend on your risk appetite and if you want to save money we have another question how long does it take for the insurance company to pay out a claim other any standards time limits or will it depend on the terms of each particular contract if it's a simple straightforward claim and you've got all your documents done correctly in the first place normally it takes about a week if you don't have any issues with the insurance company if your goods were packaged properly and the insurance company doesn't have any questions on top of just a standard set of documents then normally if you use one of our insurance companies they within a week it could take longer if you would have to do an investigation and maybe if we have to send a surveyor somewhere to inspect one of your boats vehicles obviously if it's a major loss like a ship fire something like this it could take longer but if it's a complete loss of your pallet and it's an obvious accident then insurance companies normally pay out within a week and if mind you that's if you use an insurance company based in New Zealand if you use somewhere a company based overseas you'd be lucky to get any money at all because you don't know was it a true proper insurance company and they could be a language barrier sometimes it would take a lot longer just because you don't have a local support we have another question the person is asking am i insured for law will your goods automatically as you just explained with the Korea doing door-to-door what if there are a few companies involved in frightened none of them admits damage done to my goods how can I make them pay to their limits or is a separately arranged insurance my only option in this case thank you for the question and it's a tricky one you put me on the spot Alex you obviously want to have an insurance if you run a business and you want to have a peace of mind you want do you don't want to have any hassle we always advise to have an insurance because like in this situation when you have a lot of people and a lot of companies involved this is the last thing that you want to deal with you don't you don't want to chase different companies and then fight with them what's the correct limit and who is liable for what if you have an insurance you'll get a faster settlement and you will have better support but if you don't have an insurance force for one reason or another yes you'd have to read all the contracts of different transport companies and see what are their limitations because whether you read the contract before it doesn't mean that you didn't agree in it therefore you'd have a lot of complex situations most companies are trying to do their best for you and they will not automatically admit their liability they will obviously try to reduce their costs as well and it's a case-by-case you'd have to go through the documents you'd have to see who signed for what do you have any proof for example did you take any photos when it was packaged at your supplies factory overseas do you have another set of photos when they unloaded the container here in New Zealand can you prove what was the condition before and after we have to be careful with this details and of one of our team members we'd be able to help you during the import and export process we go through the checklist and we ask all these details from different parties to make sure you have the proof and you don't have any problems like this if you've just joined us we are talking about how to get the best car insurance and four myths you have to ignore if you've got any questions feel free to type them now and we will read every single one let's move to the next topic for common myths about car insurance one situation that we come across the law what is that New Zealand companies they rely on overseas supplier to arrange the insurance in many city situations they will see free insurance included in the price of the goods oh it could be $10 so $20 or $50 while it may be the case if you've had a long relationship with this company it is an established os's business and you've done your due diligence you read their feedback testimonials yes that could be true and you could get a free insurance or very low insurance price because they buy in volumes overseas they've got very cheap money nowadays overseas if you follow the news overseas they print money like there is no tomorrow their interest rate could be sometimes 1% or 0% it's not like 4% in New Zealand so their money overseas are very cheap but the problem is if you use this supply for the first time then how do you know that their insurance is gonna meet your requirements you have to check and read once again the terms and conditions one of the best tips that I to only see on companies is to check does this insurance company have a local New Zealand agent do they have an office here if they do that's good that's a bonus the next step for you would be to take a copy of this insurance certificate and then contact the local insurance company and ask them is this insurance legitimate has it been activated and if the answer is yes and you've got it in writing then by all means it's all should be fine and you shouldn't worry about it but once again it's your choice and it's depend it's gonna depend on your risk appetite do you want to deal with overseas company or do you want to deal with the local insurance company another common myth is that it is expensive for the argument's sake you should allow at least 1% of the insurer demand so for example if the value of your goods is $30,000 then at least allow I think that would be $300 as the insured amount as a premium yes you can get a cheaper image and in many cases you can get it for even $200 if you ship it on a more regular basis you can get it even much cheaper as I said it depends on your personal situation you have to talk to the insurance broker and you can negotiate you can always get a better deal but for the argument's sake it's it's about 1 percent is it expensive I don't think so because if you run a business and when you import something well it at $30,000 3/3 $300 doesn't sound like expensive to me for the peace of mind I think insurance should be treated not as something extra but as a standard cost of doing business it's like electricity yes nobody likes to pay anything but if you want to run your business I think you should have a proper insurance done another common myth is that you can do it later while the car is in transit yes in some situation it is possible especially last year it was easier to do this year we see a lot of insurance companies they start asking a lot more questions and they become very careful when they offer the insurance certificate nowadays you have to do the insurance a lot sooner we have do it before it leaves the factory so you know that you are covered from start to finish let's move to another topic simple steps to check that you have done everything correctly the best way to do it is not to rely on emails because while the insurance broker or the insurance company they can say yes it's been arranged but unless you see have an actual document the insurance certificate unless you see that it's unlikely to be done and activated so the simple way is to get a copy of the insurance certificate and then read with your instructions is the description of the goods the same as what you requested is the currency the same and if everything matches with your instructions then you've done everything correctly if you got any other questions feel free to type them down in comments below one of our team members will be happy to assist with your insurance requirements feel free to contact us anytime and make sure you subscribe to our channel because next week we will discuss some mistakes that people make when they employ a customs broker or a freight folder and I'm sure you'd find it useful we have another question is there an insurance cover if my car gets delayed thank you for the question yes the answer is yes there are all sorts of insurances available to you it may not relate to the car insurance freight insurance but there is business interruption insurance and by all means if you talk to the insurance broker they'll be able to review your situation for example you miss a special occasion if you miss a special export I'm pretty sure that you would be able to get a separate insurance cover for that and have a peace of mind thank you for your time thank you for your questions make sure you subscribe because more good stuff coming soon thank you

Bernie Sanders and AOC want to lower credit card interest rates but it may not be a great idea

**Bernie Sanders and AOC want to lower credit card interest rates but it may not be a great idea**



View Time:6:21Minutes



Yahoo Finance’s Rick Newman discusses Bernie Sanders and Alezandria Ocasio Cortez’s plan to discuss lower credit card interest rates.

Nobody should ever pay a 25% interest rate to a credit-card issuer.

With that said, the understandable urge to pass a law capping what banks can charge could hurt the very people it’s meant to help, and cause other problems that may ravage people’s finances even worse.

On Thursday, Democrats Bernie Sanders and Alexandria Ocasio-Cortez introduced new legislation that would cap credit-card interest rates at 15%, and require the U.S. Postal Service to offer basic banking services for those who can’t afford a traditional bank.

The bill addresses legitimate problems. Millions of Americans are “unbanked” or “underbanked,” with limited access to modern financial tools that help people get ahead. And high rates often charged to low-income borrowers can lock in an unbreakable cycle of debt and poverty.

Solutions aren’t as obvious as they seem, however. Banks would lose revenue if there were a federal cap on card interest rates, which is why they oppose such a move. Don’t cry for them.

Banks would be fine, but they’d make other adjustments that the New York City congresswoman and Vermont senator may not be anticipating. Banks set rates according to the riskiness of the borrower — and if 15% were the most they could charge for what are basically loans via credit card, they’d curtail borrowing limits. It could result in credit to fewer people.

Some consumers with weak credit might not even be able to get a card —even if they paid off the balance each month and never paid interest. Fees might also rise just for having a card. And people who do get cards might try to borrow more via plastic, if rates were lower and it cost them less (another wrong incentive).

So unintended consequences of a cap would include less access to credit for some and more credit-card debt, at a slightly less onerous rate, for others.

People run up costly credit-card balances for a couple reasons. Some people are just uninformed or undisciplined consumers. The best solution there is consumer education, along with new tools like financial-planning apps that can help people manage money, and send alerts when spending levels are too high.

Others rely on credit cards because they simply lack the cash to buy basics when they need them, which is a tougher problem.

As bad as credit-card debt is, it’s better than borrowing from a payday lender or illicit loan shark. The core solutions here are improved financial literacy, better skills and stronger earning power for the most vulnerable consumers. None of those are a quick fix.

That speaks to the second part of the Sander-AOC plan, which is postal banking. The postal service has outlets in most American communities, and it already cashes government-issued checks. So why not expand that to basic financial services? Other countries do, including France, the U.K., Germany, Japan and South Korea.

This could work, but only if done carefully. It’s possible for the postal service to offer savings and checking accounts, debit cards, ATMs for cash withdrawal and other basic services that entail little risk. There are legitimate questions about whether an agency backed by the federal government should compete for customers with private-sector banks. But it would be possible to tailor a menu of postal financial services so narrowly that there’d be little overlap.

The legislative proposal would go further, requiring the postal service to offer low-interest loans— and this is where the problem begins.

Anybody making a loan faces a risk of not getting their money back, which is why banks do extensive research to establish creditworthiness standards. That’s a core expertise of banking. Riskier borrowers pay higher interest rates, because it’s more likely they’ll default on a loan.

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