What Is a Green Economy, and How Does It Help the Environment?

Embracing a green economy can help the environment.

Our society is becoming more aware that global warming and climate change have significant short and long-term consequences. For that reason, many companies are beginning to bet on a green economy, a concept that, although it has only been in use for a short time, looks set to have a long future.

Green economy: definition and goals

This economic model aims to incentivize sustainable development and reduce environmental malpractice. According to the United Nations Environment Program (UNEP), a green economy can improve human well-being and social equality if carried out well.

A green economy affects not only the economic sphere but also the social and environmental ones. Thus, companies, investors, markets, and societies should agree to adopt sustainable practices to guarantee long-term profitability and social well-being and protect the environment.

How a green economy helps the environment

These are some of the projected benefits of implementing a green economy:

  • Improved welfare and social equity.
  • Reduction of environmental threats.
  • Efficient use of resources and social responsibility.
  • Creation of green jobs.
  • Efficiency in the use of energy resources.
  • Biodiversity.

So these are its goals:

  • Seeking the well-being of people.
  • Promoting social equity.
  • Reducing poverty.
  • Minimizing environmental impacts.
  • Reducing carbon emissions.
  • Avoiding pollution.
  • Using renewable resources.
  • Generating green jobs.
  • Preventing biodiversity loss.
  • Managing waste.

In terms of sustainability, a green economy may be the ideal model, as it simultaneously strives for social and environmental well-being and economic growth. It seeks to improve our lives by reducing pressure on natural systems and facilitating economic development.

The European Union has set more than 130 separate environmental objectives and targets between 2010 and 2050, which aim to move Europe towards the green economy. Some of them are:

  • Improving social welfare, fighting for equity in society, combating scarcity, and decreasing threats to the environment.
  • Using resources efficiently, reducing carbon emissions, and promoting social responsibility.
  • Allocating public resources to the fight against carbon emissions, as well as creating green jobs.
  • Committing to energy efficiency and protecting biodiversity.

Embracing a green economy makes it possible to evaluate the level of transformation and growth in green businesses, analyze the impact of development according to the extraction and utilization of available resources, and assess the social impact according to the population’s access to basic resources, health, and education.

Learn all about the green economy, from its definition to how it helps nature.

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Getting Health Insurance Is Slightly Different for Women

Health insurance can work differently for women.

In health care, there is a concerning pattern: in the private system women tend to pay higher premiums than men and have lower coverage. Among the insurers’ arguments to justify the higher premiums charged is women’s greater need for health insurance.

Money is also a driving factor when it comes to choosing medical care and making appointments. That’s why getting health insurance can be a little more challenging for women.

Recent changes in health insurance for women

There are many health issues to evaluate when choosing an insurance plan, and upcoming changes in health laws could present new complications for women looking for good coverage.

Currently, Obamacare (the Affordable Care Act) still exists. If you have health insurance, your scheduled preventive care is covered, including annual well-woman visits, HPV vaccines, and mammograms every two years starting at age 40.

Some time ago, there used to be a penalty for being a woman, meaning that if you were getting insurance on your own instead of through an employer, it would cost $400 more a year. Fortunately, that penalty does not exist anymore, and all services are covered.

Health factors to consider when getting insurance

According to the news portal The Balance, there are three main factors that women should be aware of:

  • Heart disease: it is the leading cause of death for women in the United States and the world.
  • Cancer: it is the second most dangerous threat to women’s health.
  • Strokes: it causes 6% of all deaths in women and is also the leading cause of long-term disability. 60% of all strokes affect women.

Other things to consider when choosing health insurance:

  • Check the type of plan, whether it is a floating family or individual health insurance.
  • Does the plan cover pre-existing conditions?
  • Does it offer any value-added services?
  • Does it offer maternity coverage? If so, check if there is any waiting period for it.
There have been several changes in the health insurance system, especially for women.

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Are Female Executives a Better Choice for Companies?

Female executives can offer new perspectives to companies.

For companies, having female executives seems to attract and retain talented professionals at all levels and lead to improvements in creativity and innovation.

According to an analysis from the International Labor Organization (ILO) based on surveys of 13,000 companies in 70 countries, three out of four companies with a high percentage of women in management positions have recorded an increase in profits of 5% to 20%.

The importance of having female executives in every company

Diversity of experience is one of the factors that explains the positive impact of having female executives. Women can share their knowledge of consumer behavior since they account for 50% of consumers. In fact, women represent a larger market than those of China and India combined, which makes them a force to be reckoned with.

But in contrast, the gender wage gap is a measurable indicator of inequality and captures the difference in income between men and women. And although it has decreased in some countries over time, it is estimated that the global gap is 22% in terms of average monthly wages. That according to a 2018 analysis from the ILO.

Gender diversity improves business performance. For every 1% growth in female employment, it is associated with annual GDP growth of 0.16% on average. That elasticity is significant in continents like Africa, where the average GDP is directly affected by female employment. There, every 1% increase in female employment is associated with 0.21% GDP growth on average.

According to The Balance, a study of 353 Fortune 500 companies by Catalyst Group showed that companies with high representation of women on their management teams had 35% higher return on equity and 34% higher total shareholder return than male-dominated companies.

So the advantages of having female executives are proven. Women stand out for their intrinsic characteristics such as intuition, empathy, versatility, and ease of communication in work environments. These attributes, which they demonstrate in their interpersonal relationships, are also linked to their responsibilities and work commitments.

For those reasons, companies that consider women for management positions are more likely to have a better work environment and higher productivity in the long term. Every woman has the ability to perform diverse tasks with versatility and follow-up her work team assignments effectively.

Every company needs to know that a female executive is a valuable asset.

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Small Investments Can Have a Big Impact on Women

Investing in women can transform the world.

UN Women says investing in women is good business, but having access to capital remains a barrier for many of them. According to the IFC, only 7% of private equity and venture capital is invested in women-led businesses. That lack of funding not only limits women’s advancement but to social and economic growth as well. That is why helping women entrepreneurs with small investments can be a million-dollar idea.

It is time for women to start playing a more prominent and equitable role in our societies since they contribute to their cultural, economic, and political development. So Investing in a gender-sensitive way can help take down barriers, accelerate equality, and create a healthy economy for all.

Here is how investing in women can help the global economy

Even small investments in women-led businesses can have a very positive impact:

Higher returns and better performance

When it comes to managing assets and getting returns from investments, companies with more female participation and leadership tend to outperform those with lower percentages.

Economic spillover can generate clear social benefits

Strengthening the income of women entrepreneurs and those actively participating in the workforce has a multiplier effect.

Women investors will strengthen impact investing

Globally, women control more than $20 billion of the world’s wealth, and this figure will continue to grow in the future. That is excellent news for impact investing, as studies reveal that 84% of women want to focus their investments on social and environmental impact.

Increasing efforts to improve gender-responsive investing to let women access broader and more inclusive funding and advance their economic empowerment remains a primary goal for our society.

Most women have the ability to balance different tasks and priorities. In business, the ability to multitask, be flexible, and adapt is a significant advantage over other candidates. Women entrepreneurs also enjoy building relationships with their customers and employees, controlling their own lives, and doing something valuable to society.

So investing in women-led companies will allow entrepreneurs to build innovative platforms, create countless job opportunities, and boost the economy. That is how making even small investments can benefit all of us.

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Here Are Some Big Ideas That Could Change 2021 for the Better

2021 is the year for big ideas and changes.

Everyone hopes that by 2021 the COVID-19 crisis will be alleviated, and everything will be back to normal. Although we must be optimistic, the global recovery process will be a bit longer, and even when 2020 was a difficult year, in 2021 we must start looking for different ways to get down to work.

In today’s article, we will share with you some big ideas taken from Linkedin and, of course, some tips from Hispanic Factor for a better 2021.

LinkedIn shared some big ideas for 2021

You must fight to get your power back, or your workers

After a year of working from home and having low energy due to pandemic social stress, companies will have to look for strategies and reasons to keep their employees motivated and working at 100%. We must start thinking about the human connection between colleagues and company; it is not just something physical, but to offer comfort and a good atmosphere to those who are there.

New offices, new ways of working, motivational talks, everything that keeps you and the workers happy to give all of themselves.

Technology is on its way

The use of virtual and augmented reality for training and collaboration within enterprises, and better customer service, will increase.

By 2021, the focus is on the evolving labor market, and the rise of VR and AR will help companies solve their needs. The most innovative companies already realize the return on their investment in VR and AR, not only in training, but also in new ways to engage customers and the public.

Character will be a leader’s best friend

While the goal is to overcome a global pandemic and an economic recession, leaders will need to start working hard and maintain their character. In 2021, servant leadership will be a competitive advantage. 

Every worker right now is looking for confidence and security in their job; with so many job losses and job instability, leaders will need to work hard when hiring to motivate and retain talented people.

It is important to remember that people are not a company’s most important resource; they are the company. If you have a business, your duty is to keep your workers and their positions safe, be flexible with schedules. We are still in a pandemic, and going out to work day to day can be difficult for some people. Opportunities for growth and advancement must be created.

Racial equity will be mandatory

In the wake of George Floyd’s death, companies in the United States and other countries pledged to eliminate systemic racism from their organizations. The demand for total abolition of racism is fully placed on customers and workers; diversity and inclusion initiatives must be undertaken.

Work no longer belongs only in the office

The year 2020 was a test for telecommuting, which was successfully achieved. A home office provides a different lifestyle and many companies have realized that it’s not about where their people are, it’s about them being connected and informed.

A large percentage of companies are starting to consider implementing telecommuting and striking a balance with working in the office. There are advantages to this, as companies are investing in virtual tools and formats that not only help workers, but also generate great advances for companies. More telework means more opportunities.

The pandemic brought and will sustain a great wave of entrepreneurship

The Great Recession of the past decade unleashed a wave of entrepreneurship. High unemployment and the need to generate income drove millions of people to pursue and realize their business ideas rather than rely on a job market. 

While the pandemic has greatly affected the economy and the labor arena, it also brought with it an entrepreneurial renaissance. People will start and continue to create their own businesses, which, although this has always existed, this time it’s happening on a large scale and on a daily basis.

Many people have moved from being employees to being entrepreneurs. From restaurants, clothing sales, language classes, virtual teachers, and so many new businesses, not only physical but online, have skyrocketed.

These are just some of the big ideas that have been making their presence felt in the new year, but every day the world is looking for new strategies and innovations that can improve our personal and working lives. After a long and difficult year of pandemic, now our goal should be to seek to improve, work, and move towards the future.

LinkedIn presented a compilation of big ideas from renowned professionals within the platform.

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What Can We Expect About Student Debt From the Biden Administration?

Student debt is the main concern for many in the USA.

Student debt is the second leading cause of indebtedness for U.S. families, only behind mortgages, and it is one of our society’s most pressing concerns. In today’s article, we tell you what the Biden administration plans to do to tackle the situation.

There’s hope in the Biden administration to solve the student debt situation

In one of his first actions as president, Joe Biden extended the freeze on student loan payments for eight months to avoid further pressures on borrowers during the pandemic.

The average student debt is $33,000, and Biden campaigned on the idea of taking $10,000 out of each borrower’s federal loan debt. So the sitting president is asking the Department of Education to extend a pause on federal student loan payments until at least Sept. 30, continuing a measure that began at the start of the COVID-19 pandemic. 

Borrowers, who owe a collective $1.5 trillion, would not be required to make payments, their loans would not accrue any interest, and all student debt collection would stop until September.

Congress halted payments last March as part of a virus relief package, and the Trump administration extended it twice. Student debt not only affects individual finances but may also unbalance the national budget. That is why the actions of the government need careful planning.

Getting a job may help pay for student debt, but what if there are no job openings?

Job prospects for private college graduates are not very promising, and this situation makes it difficult for them to earn the income needed to repay their loans. Some debts end up being so high that students have to drop out before completing their studies.

Student debt has been a central issue for past administrations, and it certainly is a concern for the current one. So considering the experience and cooperative spirit Joe Biden brings to the table, we expect to see some sustainable solutions to this problem.

All student debt in the US visualized:

 

Joe Biden wants to give hope to younger people.

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What Are the Consequences of Credit Card Debts for Young People?

Young people are facing a complicated situation with credit card debts.

For better or worse, consumerism is part of our society, and so are credit card debts. While this type of debt can be a financial burden for anyone, it can have a terrible impact on young people. That is why we want to talk about the irresponsible and materialistic use of credit cards and its consequences.

The effects of credit card debts on young people

Putting vanity aside is a good starting point for a financial plan that can help you make smart decisions. Most irrational and dangerous spending choices are often influenced by the desire to project an image of wealth or impress others.

If you accumulate massive credit card debts, they become an obstacle to your financial growth. Young people may have access to credit cards early on without understanding how they work. That is why parents have to teach them how to use them properly and avoid making purchases that can jeopardize family finances.

Immature decisions can affect young people in the years to come, so they need to learn about personal finances and responsibility. Most teens get in trouble because they don’t think about the long-term consequences of credit card debts.

Here’s how you can help them understand how they work:

  • Credit card companies charge interests and additional fees that can really add up. Introducing them to the concept of interest rates may help them be more careful when buying.
  • As parents, you must explain to your children that contracting credit card debts is a responsibility they cannot avoid, and their decisions could shape their financial future.
  • Lenders and financial institutions look closely at credit scores to determine the risk they take when lending money. If they keep a poor record, they will have trouble getting support to pay for their studies, get a car, or acquire a home.

Note: Negative activity on a credit report can have lasting effects even if the person pays off past due debt quickly. It can take seven to ten years from the date of delinquency for the record to be removed.

Credit cards are useful tools, but credit card debts can become a problem, especially if we let our children make impulsive decisions. Make sure to teach them a valuable lesson today, one that will stay with them forever.

Massive credit card debt is a problem for young people.

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Learn the Medicare Costs in 2021

With a new year comes new Medicare costs and deductibles.

Medicare is a social security coverage program administered by the U.S. government, which provides medical care to citizens over 65 years of age, people who are considered disabled due to health problems such as cancer, and people with kidney failure in need of dialysis.

In today’s article, we will tell you about the Medicare costs for 2021.

Here is the Medicare Deductible Guide for 2021

Part A

Part A generally does not charge a premium. This part includes hospitalization, skilled nursing facilities, home health care, and hospice care.

The first $1,484 is due for each benefit period in 2021. The benefit period begins when you are admitted to the hospital and ends when you have not received any inpatient hospital services for 60 consecutive days. If you decide to re-admit to the hospital, for example, one day after your benefit period ends, you will have to pay the first $1,484 of charges again.

Part A also includes coinsurance if your hospital stay becomes longer than 60 days. For 2021, from day 61 through day 90 of your hospital stay, $371 per day is due; days 91 through the remainder of your lifetime reserve days, you pay $742 per day.

Part B

Part B is medical insurance. It covers medical treatments and has a monthly premium of $148.50 for this year 2021. That also includes a deductible of $203 per year in 2021. Once you pay the $203, Medicare pays 80% of the Medicare-approved amount.

Part C

Parts A and B are called Original Medicare, which is part of what you paid into Medicare over your working years.

Part C, called Medicare Advantage, offers you more choices. It includes plans available for purchase in the private insurance market that expand the coverage.

According to the Centers for Medicare and Medicaid Services, average Part C plan premiums will be about $21 a month in 2021. Coinsurance, copayments, premiums, and deductibles will vary depending on the plan.

Part D

Part D is usually the choice for those who are reaching retirement age and need prescription drugs regularly. This part offers coverage for prescriptions. Those with a reported income of more than $88,000 will pay an additional amount.

Medicare is an essential part of your expenses. Check out this year's costs and deductibles.

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Are You Planning for Retirement in 2021? Here Are Some Tips!

Are You Planning for Retirement in 2021? Here Are Some Tips!

Active working life has an end. After reaching that point, people should rest and enjoy their lives to the fullest in the company of their loved ones. That is the point of retirement.

That is why it is vital to start saving enough money to afford a comfortable lifestyle when the time comes. Some expenses increase with age, and free time invites us to explore new hobbies and travel the world. However, at this point, it might also be complicated to have access to financing or credits. In today’s article, we want to help you plan a successful retirement.

How to plan a successful retirement in 2021

Enjoy your retirement to the fullest!

  • Invest in stocks for the long term: they are the ones that can give you the highest profitability, but you will need proper financial advice to guarantee success.
  • Set aside part of our annual savings for a retirement fund: it does not matter if you can only save a small amount. Everything adds up. Increasing the capital year after year is the most efficient way to reach your long term goals.

Plan your expenses and incomes

It would help to calculate how much money you think you will need annually. Set short and medium-term goals and keep track of your progress. You should also take into consideration how much you will need monthly and plan for unexpected expenses.

Establish a budget

We recommend you make a list of monthly expenses. That will allow you to have more control over what comes out of your pocket. Keeping track of your spending behavior for several months, identifying the different irregular expenses, and setting spending objectives may help you avoid spending more money than you should.

But don’t just think about planning your retirement as an obligation but as an opportunity to explore new things, find new hobbies, and experience everything you ever wanted:

  • Join clubs that interest you.
  • Get back in touch with long-time friends and meet new people.
  • Travel to different countries.
  • Start practicing that hobby you didn’t have time for.

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These Are the Federal Income Tax Deadlines of This Year

Check out the dates on which you have to pay your taxes from last year.

Taxes are mandatory payments we must make to the State according to the amount and form dictated by law. They are used to finance education, healthcare, the provision of justice and security, the fight against poverty, and the promotion of different economic sectors. That is why they are essential for the economy and well-being of a nation.

Now, a tax deadline is the last date on which we can comply with this responsibility. In this article, we will show you the deadlines for 2021.

Tax deadlines in 2021

This year’s deadline for federal tax filing and taxpayers to pay what they owe the Internal Revenue Service (IRS) is April 15, 2021. By law, the IRS can impose penalties on those who fail to file a return and pay before the deadline.

  • Individual Income Tax Returns: April 15, 2021.
  •  
  • Estimated Tax Payments for Tax Year 2020 (IRS Form 1040): The fourth and final estimated payment for the tax year 2020 is due January 15, 2021.
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  • Corporate Income Tax Returns (IRS Form 1065): March 15, 2021, due September 15, 2021.
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  • C Corporation Tax Returns (IRS Form 1120): April 15, 2021, for C corporations operating in a calendar year. The extended deadline is October 15, 2021. The tax deadline for C Corporation returns is the 15th day of the fourth month following the end of the corporation’s tax year if the corporation operates in a tax year, rather than a calendar year.
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  • S Corporation returns (IRS Form 1120-S): March 15, 2021, for corporations operating in a calendar year. The tax deadline is September 15, 2021. The deadline for S-corp and corporate returns is the 15th of the fourth month following the end of the tax year if they are in a tax year rather than a calendar year.

What happens when you miss a tax deadline?

Penalties for late filing are usually 5 percent per month on unpaid taxes or part of a month for late filing.

If you do not comply with the tax deadlines, you will generally have a penalty of 0.5 to 1 percent of your unpaid taxes. The penalty applies monthly or part of the month after the deadline when the taxes are not paid.

Don’t leave your duties to the last minute. Meet the tax deadlines and avoid the headache of having to pay extra in penalties, interest, or ultimately lawyers.

 

These are the 2021 deadlines to pay your taxes.

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