Category: Financial

Learn from our financial experts who provide clear advice and tips on everything from taxes to loans and all that is in between.

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Financial Savings

Basic Budgeting Tips Everyone Should Know

Budgeting

Whether you are a million-dollar earner or one of the tens of millions of Americans living paycheck to paycheck, the foundation of every successful financial strategy is budgeting. You need to know where every penny you earn is going if you are going to become the master of your own financial future.

Despite what you may think, budgeting does not rely on strict spending control and eliminating all fun and enjoyment from your life. The biggest benefit to having a budget is to understand your own spending habits and being familiar with your unique financial situation.

The best decisions come from a place of education, so it is essential that you understand how you are spending and allocating your money. Let’s take a look at some of the most vital budgeting tips that everyone should be utilizing.

1.   Use A Worksheet

This isn’t the 1970s, so why create your budget as if it was? Use a spreadsheet that you can constantly keep updated, this will make it easy to stay current. There are also a number of resources for using premade budget templates that can be used with Excel or Google Sheets. These can have a number of categories, expense types, and more, to help you track your money with more detail than ever before.

2.   Understand Overspending

One of the many reasons that you may want to create a budget is to identify areas or categories where you may be overspending. Overspending can throw off your budget since it takes allowances from other categories. Once you know where your overspending tends to happen, you can understand your overspending habits, and begin to put a stop to them.

3.   Keep Your Goals In Sight

Budgeting can be hard without a goal to work on saving toward. This reward can be crucial to your success in budgeting and saving. Start with small goals, and work up from there. Maybe set a small reward for when you’ve managed to save your first $100, then another reward at $250, or even $500. Make sure you keep a mix of short-term and long-term goals so that you can budget for several things at once. Make sure you record your goals and maintain accountability.

4.   Automate Your Savings

This is another way that you can leverage technology to help you reign in your finances. One of the more challenging things about budgeting is saving, but now there are apps that can make this an effortless step. There are ways to not only automate savings deposits from your paycheck but also to deposit smaller amounts automatically.

For example, you can have $20 automatically sent to savings when your check is direct deposited. There are also apps that will round up a debit card purchase to the next dollar and put the rounded change in a savings account for you. This may not seem significant, but if you round up a dollar a day, that’s roughly $30 per month that can be saved without effort.

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Financial Savings

Saving Money: A Complete Beginner’s Guide

Saving Money

Volumes can be written about the psychology behind saving money, but if you’re just starting out trying to save you want real actionable steps to getting some savings built up. Each of these steps can be taken easily, quickly, and can also be expanded to larger scale savings.

1.   Every Little Bit Helps

People often get discouraged when they cannot seem to save money rapidly enough. If it were a race, slow and steady wins. Save a dollar here and there, even a few cents, just don’t touch it unless you absolutely have to. There are even apps that can help you save by rounding up purchases automatically and either saving or investing the spare change. This can be incredibly powerful for people who use their debit cards constantly.

2.   Know What You Should Be Saving

You know that you need to save, but do you know how much? Figuring out what you want to save for, and saving in small incremental goals, can boost your saving success. Save up for something small first, then add on to that, increasing until you have the savings and emergency funds you need for any rainy day.

3.   Make Saving Easy

Saving money shouldn’t be hard. It shouldn’t require you to live like a pauper. One of the easiest ways to save is to gamify it. When you set goals and reach those goals, be sure to reward yourself.

If you like ordering pizza but spend way too much on it, keep track of the times you’d order, and instead of ordering save that money. Once you’ve saved through 4 pizza delivery cravings, treat yourself to a pizza on the 5th. That way you’ve got a nice pile of savings, and a small reward.

4.   Clear Your Debt

Debt is frequently one of the more challenging things to overcome before you can begin saving. It can wipe out any progress that your savings and interest give you. If you have high-interest debt like credit cards, focus on paying that down quickly. While you do this, try to save a small amount, even $20-$30 per month, to help you break the cycle of credit card use.

5.   Pay Yourself First

This is one of the older methods for saving, but it’s one of the easier ones to implement and it helps change your saving behavior. It’s simple, establish a percentage of your pay that you will save and not touch. Many people set this at 10%. So for every hundred dollars you earn, stick ten in savings, and watch that pile up quickly.

6.   Generate Cash

Generating cash might sound crazy, but it’s a legitimate technique for saving. At the simplest, this can look like a credit card with a cash back bonus, where the cashback is dropped into a savings account and left there. More aggressive generation methods are running side hustles, getting a part-time job, or even selling extra stuff to make a few bucks that you don’t need for bills.

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Financial Insurance

Need Auto Insurance? Ask These 8 Questions

Auto Insurance

Many factors go into auto insurance decision making. Not only do you have to consider your premium, but you also need to decide what kind of coverage you need and how much to purchase. All of these things make it difficult to buy a car insurance policy.

Fortunately, you can better prepare yourself for car insurance shopping when you evaluate your personal priorities. In addition to calculating your budget, you should ask yourself eight questions to which policy options are best for you and your needs.

1. How Many Miles Do I Drive?

If you’re a stay at home mom or telecommuter, you might not put more than 100 miles a month on your car. However, you could easily put more than 1,000 miles on your car every month if you have a long commute to work. It’s important that you find an insurance policy that reflects the miles that you drive. For example, a mileage-based insurance would be a great option for low-mileage drivers.

2. What Do I Use My Car For?

You need to consider how your car will be used in order to find the proper coverage. If you are simply driving to work or using your car for personal reasons, a standard car insurance policy should be fine. However, you may need to get commercial insurance if you use your vehicle for rideshare, delivery, or any other tasks that you get paid to complete.

3. What Kind of Car Do I Own?

The type of car that you own can have a huge impact on your insurance rates. Not to mention, it impacts the type of coverage you require. Any modified or classic cars require special insurance. If you have a sportscar, you might not need a particular policy, but you should expect higher rates since your car is more likely to be stolen or damaged. On the other hand, customers with “safe” cars can usually enjoy discounts for safety features.

4. Where Do I Live?

Your location can also affect your insurance rates tremendously. People in urban areas are more likely to be victims of theft and vandalism, so they spend more money on car insurance.  Customers in rural or suburban areas typically have lower insurance rates. While you might not be able to control where you live, you should keep in mind how your location can impact your insurance policy.

5. Where Do I Park My Car?

Do you often park your car in the street? Do you keep it in a garage? Where you park your car can also be a risk. If you live in area where you park on the street, you also have to worry about other drivers hitting your car along with the risk of theft. If you don’t have a garage, your car is also susceptible to damage from hail, fallen branches, and more, so we recommend upping your comprehensive coverage.

5. Will Anyone Else Drive My Car?

Most car insurance policies cover occasional drivers, but you should make sure that frequent drivers are all listed on your policy. A frequent driver could be anyone who lives with you and borrows your car often. They could include a spouse, teenage children, roommates, and more.

6. How Much Do I Love My Car?

If you drive an old car and don’t care about its appearance, then you could buy the bare minimum insurance policy. Full coverage insurance would be better suited for anyone who loves their car and take pride in caring for it.

7. Do I Own My Car?

Leases and financing are great options for acquiring cars, but they can impact your auto insurance policy. You may be required to insure the car for its full value or the gap between what you owe and its current market value. This insurance is called supplemental gap insurance since it goes along with your collision and comprehensive coverage.

8. What Are the State Requirements?

Every state has its own rules and regulations for car insurance. It is up to you to research and find the minimum liability coverage for your vehicle.

Request a Auto Insurance Quote

Now that you know more about your car insurance needs, you should be able to find a great policy. We suggest that you start out by getting a car insurance quote from several companies with similar coverage levels. By doing so, you can get a fair comparison and find the right option for you!

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Financial Insurance

A Guide to Medicare Insurance

Medicare Insurance

Whether you or a loved one are nearing retirement, there are a lot of plans to make. One of them is choosing new health insurance. Though you can certainly purchase your own private health insurance, millions of people rely on Medicare insurance.

If this is something that you need to consider, you might feel overwhelmed by all of the new information. That’s where this guide comes in to help!  We have created a basic explanation of Medicare insurance so that you can learn more about your options.

What is Medicare, and Who is it for?

The federal government offers Medicare as a health insurance program for seniors. You must be 65 or older to enroll in the program. Medicare insurance programs exist to help people cover medical costs associated with health emergencies or chronic illnesses. However, the insurance can also help pay for maintenance of good health.

It is important to understand that Medicare insurance is not a free benefit. All beneficiaries are required to pay premiums based on their income and coverage. You must also pay any out-of-pocket costs, so it is important that you learn about your coverage options and choose the best Medicare Insurance for you.

Types of Medicare Insurance Coverage

As with other health insurance policies, you can choose from several different coverage options. Rather than referring to them by metal tiers, they are divided into four main categories.

Part A

Medicare Part A only covers hospital care and hospice. It can also help pay for any short-term nursing home stays if you were in the hospital for at least three days. While most seniors do not have to pay a premium for this coverage, there is a $1,408 deductible as of 2020. You could also expect out-of-pocket expenses for long hospital stays.

Part B

This coverage option is more of your standard health insurance. It covers any of your doctor’s visits and outpatient care as long as the doctor accepts Medicare. You can also enjoy many free preventative services to maintain your good health. The flu shot, select screenings, and wellness visits are just a few of the free benefits.

Your income determines your premium for Part B insurance, but everyone has a $198 deductible. After the deductible is met, most retirees will have to pay 20% of doctor services.

Part C

If you want an alternative to traditional Medicare, Part C or Medicare Advantage Plans are your best bet. Part C coverage has fewer restrictions and different prices because it isn’t completely controlled by the government. Instead, a private insurance company pays for any Medicare-approved healthcare. Like an HMO plan, your Part C plans can sometimes require you to use in-network providers. It may even require you to get a referral to see a specialist.

Part D

You need Medicare Part D if you require prescription drug coverage. Like Part C, Part D is also a private policy that follows Medicare’s requirements. Your premium depends on the amount of coverage you require, but you can generally expect to pay up to $435 for your deductible.

What Medicare Doesn’t Cover

In a dream world, the best Medicare insurance would cover all of your health care needs, but unfortunately, it doesn’t. Corrective lenses and their required eye exams typically aren’t covered. You should also expect to pay out-of-pocket for hearing aids and dental care. Medicare doesn’t cover long-term nursing home stays either. Medicare Part A only covers short-term nursing home stays under certain circumstances.  

The Right Time to Enroll in Medicare Insurance

Timing your enrollments right is just as important as selecting your coverage because you get a seven-month window. The window begins three months before you turn 65. You should sign up right when the window opens if you would like your coverage to start the month you turn 65.

If you missyour enrollment opportunity, you will be charged a penalty that could be long-term. Not to mention, you could be without coverage for a significant amount of time. The only other time you can enroll outside of your window is between January 1 and March 31, but the coverage doesn’t start until July 1. Therefore, it is crucial that you sign up on time.

Request a Medicare Insurance Today

If you’ve enrolled in Social Security benefits, a Medicare card will come to you in the mail three months before you turn 65. This is your opportunity to start looking at your options. If you haven’t signed up for Social Security, you’ll need to enroll yourself. We suggest that you start by gathering a Medicare insurance quote for your coverage options.

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Financial Loans

Student Loans: The Top Loans For You

Best Student Loans

If you are planning to continue your education, you need to have a way to pay for school. College and universities can rack in high costs and many people take out student loans. Depending on what your living expenses while in school are and how quickly you want to get through your program, you may have to take out a lot of loans.

Public loans are an affordable way to get loans but they may not cover everything, especially if you are attending a private school or program. When you need to take out private loans that cover more than public loans, it is advantageous to look at your options.

Earnest

Earnest is a private loan lender that offers student loans to undergraduate and graduate students. With Earnest, borrowers can choose the length of their loan and how much they pay every month. Borrowers can also refinance their loans if they need to.

Education Loan Finance

Education Loan Finance, or ELF, offers loan refinancing options for undergraduate and graduate programs, including medical, dental, and law school. They also offer loans for students at select institutions.

College Ave

College Ave focuses on offering loans with quick approval. Applications are simple and people are approved for loans instantly. Borrowers can borrow as little as $1,000 or cover the full cost of going to school. Borrowers can also make payments while in school, pay only interest, or make flat payments, depending on what works best for them.

Sallie Mae

Sallie Mae is a consumer bank that also offers loans to cover undergraduate, graduate, and specialty programs. They also have savings programs to help families plan for college. They have loans for medical residency, career planning, and studying for the bar.

Discover

Discover has offered private student loans since 2010. Loans can be as small as $1,000 or cover all of your education costs. Discover loans apply to over 2,000 schools. International loans are also available, though they require a co-signer who is a citizen or permanent resident.

Splash Financial

Splash Financial is a student loan refinancing marketplace. They work with a wide network of banks and financial institutions to provide the best rates possible. They work with federal, private, and Parent PLUS loans.

U-fi

U-fi works with Nelnet to provide private loans and refinancing options to students in all states, except for Vermont. Borrowers can get up to 15 years to repay loans with flexible repayment options.

Laurel Road

Laurel Road has worked with KeyBank since 2019 and specializes in graduate loans. They also offer loan refinancing for several kinds of loans, including parent PLUS loans. Loans are available from $5,000 and up.

Summary

No matter what kind of loan you need or how much you need to be covered, there are private loan lenders that will work with you to ensure that you can pay for school. They will also work with you on repayment or refinancing options. Every situation is different and with some research, you can find the right lender for you.              

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Financial Insurance

Car Insurance: 101 Guide to Everything

car insurance 101

Whether you’re on the hunt for better rates or shopping for the first time, car insurance can be intimidating. There are so many numbers thrown at you, and every provider claims to offer cheap car insurance or the most benefits.

How can you possibly choose? In this article, we’ll go over everything you need to know about car insurance and how to choose a policy that fits your needs.  

Type of Car Insurance Coverage

Before you can select any policy, you need to know about the different types of car insurance coverage. While some coverage is designed to protect you, other insurance pays for damages and injuries you cause to others. The following are just a few of the most common insurance coverage options:

Liability

This type of coverage is for others. Specifically, auto insurance providers design bodily injury liability to cover injuries or deaths that you caused with your car. Property damage liability covers vehicles or other property damaged by an accident you caused. Almost all states require drivers to carry a minimum liability policy.

Collision

If you want to cover your car’s damage when you cause an accident, you need collision insurance. It covers the cost of repairing or replacing your vehicle whether you hit a car,  pole, tree, or another object.

Medical Payments and Personal Injury Protection (PIP)

Several states also require that drivers carry insurance for medical payments or personal injury. This plan reimburses you for medical costs associated with an accident. They also cover lost wages for you and your passengers.

Uninsured Motorist

In the event of a hit and run, you will be thankful for this insurance. It provides you with coverage when the driver at fault lacks enough coverage to pay for the damages he or she caused.

Coverage Amounts

Once you know what type of coverage you need, you must choose the amount. As with the coverage types, your state often determines the minimum amount of coverage you must carry. It could be as low as $10,000 a person or $20,000 for a single accident. On the other hand, insurance companies can set maximum limits for liability coverage.

Obviously, you shouldn’t choose more coverage than you can afford, so you need to find the balance between your budget and your needs. Since many cars can cost upwards of $40,000, you should aim for at least that much in property damage coverage. If you own a more expensive vehicle, we recommend upping your coverage in case an underinsured driver hits you. These are just a few of the things you should consider when selecting your coverage amount.

Car Insurance Rates

Your car insurance premium can vary greatly from the next person’s—even with the same coverage and deductibles. We know that sounds crazy, but it’s true! Insurance providers don’t base your car insurance quote on those two factors alone. In fact, there are a lot of different things they take into consideration when calculating your payments, including:

  • Location
  • Age
  • Gender
  • Years of Driving Experience
  • Marital Status
  • Vehicle Type and Use
  • Claims History and Previous Coverage
  • Miles Driven
  • And More!

While your claims history and driving experience make sense, you might wonder, “what do my gender and marital status have to do with my insurance?” They are risk factors determined by claims data. For example, young drivers are statistically proven to be the riskiest drivers to insure. Therefore, your rates are much higher when your 16 than when you turn 25.

It’s important to note that while all of these factors are considered, they don’t carry the same weight. Each insurance company weighs them differently, which is why they charge different rates.

Choose Your Perfect Car Insurance Policy

Now that you know more about the types of coverage and factors that influence your rates, you can be better prepared to handle your search. If you’d like to learn more about car insurance coverage or how to lower your car insurance rates, we encourage you to check out some of our other articles.

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Credit Financial

4 Best Unsecured Credit Cards for Bad Credit

credit cards for bad credit

You need a credit card.  You know your credit is not in the best shape but is anybody perfect? Maybe you’ve looked into getting one in the past only to be asked to pay an insane deposit for a “secured” card.  But are those the only type of credit cards you can get?

Of course not.  There are some great options for “regular” unsecured cards, even for those with bad credit.

The Best Credit Cards For Credit Scores Below 650

1.     Capital One Platinum Credit Cards

Why? It’s great for building credit.

This card is an excellent option for building credit because Capital One automatically reviews your account at six months.  As long as you make all of the payments “on time,” it is easy to get a higher credit limit.  You get an instant boost to your credit score so long as you don’t use too much of that higher limit. 

Also, Capital One is known for extra benefits. You’ll never have to buy that extended warranty on electronics.  The one downside is there is no cashback.

2.     Capital One Quicksilver One Cash Rewards Credit Cards

Why? This one gives you rewards.

It gives you unlimited 1.5% cashback on everything.  You can easily earn back the annual fee and more. You also get all of those other advantages Capital One offers.

Be aware that this one does have slightly higher credit standards than the others. It is an excellent choice if you have already started the journey back from “bad” credit.

3.    Petal 2 Visa Credit

Why? There are no fees.

Once your credit score drops, annual fees are usually automatic.  With Petal, there are no yearly fees.  What’s more impressive is that they don’t charge any other fees either. There are no late payment fees, over the spending limit fees, returned payments fees,  or any other fees. 

Of course, this doesn’t mean it’s interest-free, but if your trying to adjust to living with credit cards, this no fees policy is a huge benefit.

It also offers some cashback features.  You start with 1% back on all purchases and graduate to 1.5% once you’ve made 12 payments on time.  They even look at more than just the simple credit score for approval. This makes Petal perfect for those without credit or credit history.

4.     Deserve Pro Mastercard

Why? It has more rewards.

Not only does this card give you unlimited 1% cashback on your purchases, but it also offers bonus rewards categories.  You can earn 3% back on any travel purchases and 2% back on dining purchases.  Just remember that you can only get the bonus rewards for the first $500.

As you can see, unsecured credit card options do exist for those with bad credit scores.  These are far from the only four cards available for this range of credit scores.  Keep a careful eye on interest rates and annual fees anytime you are shopping for an unsecured card, regardless of your credit score.

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Debt Financial

The Not-So-Secret Strategies To Find Debt Relief

get debt relief

The early 21st century has found an increase in the debt of individuals in developed, First World countries mostly as a direct result of the American economic recession around 2008. Personal debt rose from $2.71 trillion in 2008 to $3.76 trillion in 2017. Therefore, if you’re one of the many that have some form of personal debt, know that there are means to get help.

There are a lot of different versions of debt depending on who you are and what you owe. In this context, we’re referring to an individual’s debt. The early 21st century has found an increase in the debt of individuals in developed, First World countries mostly as a direct result of the American economic recession around 2008.

Management

Managing debt is where most people have to start. This all comes down to working out a budget plan. Unfortunately, this plan only works best on unsecured debt, like credit cards, personal loans and overdraft fees. The credit counseling and debt management companies can negotiate with the unsecured debt lenders to reduce the total owed or monthly payments, which can be a massive help if you’re living paycheck to paycheck.

There are a lot of different ways to look at debt management, because it basically includes all of the other strategies in one package. Managing the debt begins at the source, with you, and on how you plan to spend your money while making ends meet. Creating a budget plan as early as possible will help you get started with handling debt.

Consolidation

Debt consolidation is one of the first and smartest avenues to seeking out debt relief. If you’re in debt from a few different bills with high interest rates, like multiple loans or a few credit cards, it’s possible to consolidate all of the bills into one lower-interest loan. This option both reduces your overall debt and makes it faster to pay off.

Consolidation isn’t a magic cure-all and won’t work if you’re unwilling to stick to a budget. If the debt is less than 50 percent of your income, your credit isn’t enough to qualify for a zero percent credit card or you’re unable to consistently cover payments, consolidation may not be the best option. Of course, speaking with banks, credit unions, or other loaners may give you a better idea of how to reach consolidation with your personal situation.

Debt Settlement

Debt settlement is risky business. While this means that you can pay less than the original amount owed without fear, this option is still basically a last resort. Debt settlements can ruin your credit and be extremely expensive to reach, not to mention taking years to even establish.

The only way you can be eligible for a settlement is if you’re unable to pay any amount on your debt. Collectors will be willing to take some amount of money rather than nothing but at a strong cost to you. This is only applicable with some types of debt, as houses can be foreclosed and cars repossessed, but debt like student loans can be settled. Options like income-based repayment plans should be considered before deciding on debt settlements.

Tax Debt Relief

Tax debt is a bit different from your average debt. This is money owed to the IRS and can be serious stressor, especially if you have debt accruing from previous years. Every month tax debt is unpaid adds a 0.5 percent interest penalty, so things can add up fast. The IRS even has the power to put a lien or levy on your property, meaning they can take the proceeds if you sell or just take the property and sell it themselves.

There are a lot of companies out there and a lot of scams who say they’ll help you get out of tax debt. One of the best steps that can be made is to speak to a worker at the IRS directly to set up a payment plan. There will be penalties and interest to come with the plan but these are better than not paying at all. You can also seek out an office in compromise or OIC, which is similar to a debt settlement as it’s a way to reduce your payment if you can’t repay at all. As with the settlement option, the IRS suggests you try all payment plan options before considering the OIC.

Getting out of Debt

The idea of debt has been around since ancient historical times, even mentioned in the Book of Leviticus. So long as economy and debt has been around, so has debt forgiveness. Anyone can reach debt relief, but the stress coming with the trouble is a different problem.

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Financial Savings

Earn Money With A Checking Account

Checking Account

We have been conditioned to think that even though bank accounts are necessary that they are a drain on our resources. For example, most bank accounts come with high monthly fees, unless a user maintains a significant minimum monthly balance or meets other restrictions. Users may also be hit with heavy fees if they overdraw their accounts. Many banks charge overdraft fees in excess of $30. 

But, not all bank accounts are costly. In fact, some checking accounts may actually earn users money. This primarily happens via bonuses that customers receive when they open checking accounts.

Checking Accounts With Bonuses

Not all banks offer bonuses for customers to open new checking accounts, and not all bonuses are created equally. This means that it is important for a customer to shop around. Comparison shopping also means looking at more than just the upfront bonus. Customers should also consider how they will likely be using the account and what the long-term associated fees will be.

The bonuses that are offered generally range from $100 to $250. However, some banks may offer even more attractive bonuses, particularly to high net worth customers. For example, HSBC Bank currently offers a $750 bonus for its premier checking account. However, customers need to be aware that they will be charged a $50 monthly fee unless they maintain a $100,000 minimum account balance. This minimum is outside the means for most customers.

The Best Bonus for You

When opening a checking account, particularly one with good bonuses attached, they may want to check your credit score up front. If they use a hard pull on your credit, this will make your score dip lower temporarily. If your score was already not the best and you were planning on using it soon, like if you were considering buying a car or renting an apartment, then you may want to check with other banks first or hold off on the checking account until things are settled.

Banks aren’t known for giving money away for free, so don’t expect this to come without other types of attachments. For instance, there’ll be fees on the account like monthly maintenance charges which might take up the whole bonus, if not more. Not to mention that the bonus is technically considered interest, so the government will want to take out taxes on this so-called free money. Lastly, consider interest rates at various banks. Some banks that offer no bonuses but has competitive rates may earn you more money than vice versa.

Other Caveats For A Checking Account

Minimum monthly balances are only one issue that consumers need to take into account when they are shopping for a new checking account with a sign-on bonus. Banks often put other requirements or caveats on these accounts, some of which are more stringent or restrictive than others. Many of these accounts will require that customers have at least one direct deposit enter their account each month. Since most employers now pay via direct deposit, this is not a difficult requirement to meet.

Another requirement that customers need to take note of is the minimum amount of time that an account needs to be open. Many banks require customers cashing in on these sign-on bonuses to keep an account for six months or more, while some banks set the minimum to one year. Customers who close their accounts before then may be required to pay back their initial bonus.

These aren’t reasons turn away an account with a sign-on bonus. They are simply buyer-beware caveats. Make sure to read the fine print about any account before opening one.

In the End

Customers should treat shopping for a new bank just like they treat any other shopping experience. They should work to collect as much information as possible and weigh this information against their own unique needs. What works for one customer may not be the appropriate answer for another. Consumers have the opportunity to pick the bank account that best meets their long-term needs, ideally one that offers an attractive account opening bonus for new customers.