enRICHed: Volume 14

For The Kids

Not a lot to say this week so we wanted to highlight a holiday cause that everyone is likely familiar with - Toys for Tots! Celebrating 75 years this year, the program has helped bring Christmas magic to millions of children across the country.

It may seem like a lot to go out, buy a toy and bring it to a drop off location, which is the traditional method of donating to the program. ENTER - The Virtual Toy Box. Got your holiday bonus? Just in the giving mood? You can buy a child a toy using the Toys for Tots Virtual Toy Box. For the price of your sweetgreen salad, you could bring some joy to a child in need, so we ask that you at least take a peek!

A few administrative reminders below:

  • HYCUpronounced ‘haiku’: how the news impacts you and your wallet, aka How You Can Use

  • Spilling the Prosperitea 🫖 : our hot tips for you on all things money. Think discount codes, hacks, non-boring finance articles, sales, etc. 

Now that you’re up to speed, let’s get you enRICHed.


World Cup Finals


A 1099-K Problem


Pay Rent = Get Rewards

  • Mastercard recently released a new credit card, BILT. Traditionally, there are fees associated with paying rent on your credit card, but Mastercard has created a way around that. With BILT, you can how pay rent without fees and earn points while doing it.

  • The BILT card has some peculiarities, like you have to make a minimum of 5 transactions a month to earn points, but the partners are pretty great, especially if you live in NYC or SF. They have partnered with fitness companies like Rumble, SoulCycle and solidcore, so you can redeem points for classes. You can also use points to pay your rent, or for travel perks.

  • HYCU; while BILT’s perks can been in the points, it is also an opportunity build credit. Using the BILT card to pay rent shows a record of on-time in-full payments that can help you long term, if used responsibly.


3 Million Barrels

  • The Biden administration announced on Friday that it would buy 3 million barrels of oil. The purchase will begin in January.

  • President Joe Biden sold 180 million barrels from the Strategic Petroleum Reserve from March through October, bringing the stockpile to its lowest level since the 1980s. This announcement to buy barrels back will likely be followed by more as we seek to replenish that number.

  • The purchase will not have a huge effect on Americans (who have seen gas prices fall from over $5 to almost $3) as it will be done below the $96 price point Biden sold oil for earlier. The purchase price for WTI crude on Friday was $74.50.

  • HYCU; The reserve was created to give the US some autonomy in the energy space, and can be used in case of emergency to control gas prices - so replenishing it is ultimately in our best interest.


The Child Tax Credit

  • Congress is trying to push through one last thing before the end of the year: an expanded child allowance. During the second half of 2021, the Biden administration was sending pandemic relief checks to families, and was also able to extend the child tax credit to up to $3,000 in 2021.

  • The current argument is over who should get the credit, and what is the best way to move children out of poverty. Is it giving the parents cash, or encouraging them to get a job in order to qualify for the cash? How much income in too much or too little to qualify?

  • HYCU; so how does this tax credit work? The credit is currently $2,000 and partially refundable. This essentially means that if your credits exceed your taxes owed, you only can get up to a certain amount as a refund.

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enRICHed: Volume 16

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enRICHed: Volume 13