The Weekly Summary - 4/12/2020 Edition
The Weekly Summary - 4/12/2020 Edition

The Weekly Summary - 4/12/2020 Edition

By tvlachak | The Weekly Summary | 12 Apr 2020

Personal Finance

Coronavirus Stimulus Consumer Payments

In the last week of March, legislation was passed to send cash payments directly to individuals to help them during the worst economic crises we have ever faced. is stating, “No action needed by most people at this time.”

The good news for most taxpayers is they will automatically get this stimulus. The U.S. government began making direct payments to some Americans’ bank accounts on April 10 and will continue to do so into next week. Mobile banking startup Current is reporting that some accounts have received the stimulus payments from the IRS as of Friday afternoon. You can keep up with IRS updates here.

The bad news for folks without direct deposit is they may not get checks until after August.

Earn Extra Cash from Home with Gig-economy Jobs

As layoffs continue, some Americans are turning to gig work for quick money. Video game coaching is in demand. A millennial based in Vancouver, started offering virtual coaching services two years ago for popular online video games Overwatch and Fortnite.

Some Auto Insurance Customers Getting Money Back

Many car insurers are refunding hundreds of millions of dollars to policyholders. As Americans hunker down at home to stop the spread of the coronavirus, insurance companies have noted a drop in reported accidents. Companies are seeing savings as people are driving less and filing fewer claims. Allstate, American Family, and State Farm have announced they are returning those savings to consumers in the form of refunds and lower premiums in April and May.

Activate New 5% Credit Card Cash Back Categories

The start of quarter 2 has many credit card companies switching to new cash back categories as of April 1. Two of my favorite cash back credit cards in my wallet are the Chase Freedom and Discover IT credit cards.

With Chase Freedom, you can now earn 5% cash back at grocery stores, fitness club & gym memberships, and select streaming services on up to $1,500 in combined purchases from April 1 - June 30, 2020. I don’t know about your budget, but for the next three months, I will easily be maximizing the grocery store category during this lockdown.

Discover card’s 5% cashback bonus categories are gas stations, Uber, Lyft and wholesale clubs from the beginning of April until the end of June, on up to $1,500 in purchases.

As a reminder, with both the Chase Freedom and the Discover credit cards you need to log into your account and activate these offers.

I hardly ever spend the cash back earned from my credit cards and always pay off my card balances in full every month. Also, I always pass on the gift card options payout. Personally, I prefer to apply the cash back earned from credit cards into savings and investing options.


Only 9 of the World’s Top 100 Billionaires have Become Richer During the Pandemic

Nearly all of the 100 tycoons lost more than $400 billion during the period from January 31 to March 31, 2020. The nine that didn’t are all Chinese. It’s hard to imagine so much wealth vanishing in such a short amount of time. However, Wall Street billionaire Bill Ackman struck a more positive tone in a series of tweets recently. Meanwhile, Goldman Sachs is advising its wealthy clients to return to equities and prefers U.S. stocks to offer the best returns after the virus lockdowns end.

Bogle Had a Point on International Stocks

Vanguard's founder John Bogle didn't see the need for them, and the markets haven't shown reason to suggest he was wrong.

John Rekenthaler, "Whenever U.S. equity-fund shareholders have needed the protection, their international funds have worsened their problems, not fixed them."

The Only Black Swans with William Bernstein

Ben Carlson recently spoke with investment advisor and author William Bernstein about the pandemic and deep risk. Bernstein puts the current crash into perspective with history's worst crises.


BAT Available for Trading on Gemini Very Soon

Brave, the open-source pay-to-surf browser, will soon have more options for trading its signature token. Gemini announced they would soon support trading for Brave’s Basic Attention Token (BAT). Users will be able to deposit BAT into Gemini accounts starting on April 24th, 2020.

“BAT is the sixth digital asset available for trading on the Gemini platform, joining bitcoin, ether, bitcoin cash, litecoin, and Zcash.”

Crypto Firms Targeted by Lawsuits

The suits named dozens of parties including BiBox, KuCoin, BitMEX, (EOS), Tron Foundation (TRX) and many others.

The lawsuit alleges that these firms have sold unlicensed securities without broker-dealer licensing and engaged in market manipulation.

Crypto Was Meant to Democratize Finance, And It's Finally About To

Through the revolutionary blockchain technology that powers Bitcoin, the digital coin was meant to even the financial playing field, eliminate intermediaries such as banks, and maybe even replace fiat altogether.

What is happening, though, is that traditional capital markets are beginning to incorporate blockchain technology and digital assets, and the coronavirus pandemic only hastens the process.

Current Jobs Available in Cryptocurrency

There are many jobs available in the crypto industry ranging from positions in web development to management to UI/UX Designer and much more.

Bitcoin Fund listed on the Toronto Stock Exchange

3iQ, a Canadian asset manager has received approval from the local watchdog to list a bitcoin-tied fund “The Bitcoin (BTC) Fund” on the Toronto Stock Exchange (TSX). The fund recently listed 5,000,000 shares on the TSX at $10 per share. The fund’s shareholders will be exposed to the movements of bitcoin’s price over time.


Amazon to Delay Prime Day Event Due to Coronavirus

Amazon, blaming cloud risks, is planning to postpone its summer shopping Prime event. The big shopping promotion, which normally starts in July, will be delayed to at least August and could lead to a $100 - $300 million hit for the e-commerce giant.

Instacart Adds More Flexible Delivery Options As Customers Struggle to Place Orders

The Instacart app has seen a 300 percent increase in order volume in the past week, according to the company. The strained grocery delivery app is rolling out two new features to app users to try to process more deliveries at a faster rate, the company announced.

How AI Influences eCommerce Business

Artificial Intelligence(AI) is leaving its footprint on every sector. Go anywhere today and you will find the adoption of AI in eCommerce.


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The Weekly Summary

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