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Americans are leaving a huge chunk of change at airport security checkpoints – here’s what it means for the debate over getting rid of the pennies

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Should the United States get rid of pennies, nickels and dimes? The debate has been occurring for years. Many people are in favor coin storage ON considerations of economic fairness. Others are calling eliminating them because the government is losing money by minting low value coins.

One strategy to resolve the debate is to see if people still use small denomination coins. There can be an unlikely source of information showing how often people use change: Transportation Security Administrationor TSA. Yes, the same individuals who check passengers at airport checkpoints can answer whether people still use coins and whether their use has trended up or down over the years.

Every 12 months, TSA provides detailed report to Congress shows how much money is left at checkpoints. A decreasing change amount would mean that fewer people have coins of their pockets, while a constant or increasing amount means that folks proceed to hold coins.

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The the latest TSA data shows that in 2023, air travelers left almost $1 million price of change at checkpoints. That’s roughly double the amount left in 2012.

At first glance, this means that increasingly people carry and use coins. But as University researcher who studies each travel and money, and a keen observer of queuing habits at airport checkpoints, I do know the story is more complicated than these numbers suggest.

What is left behind?

More than 2 million people fly each day in the USA, passing through a whole bunch of checkpoints at TSA-operated airports. Every airman passing through the checkpoint is asked to put items from pockets comparable to wallets, phones, keys and coins, into a basket or carry-on bag. Not everyone remembers to select up all their items on the other side of the scanner. ABOUT 90,000 to 100,000 items lags behind every month, TSA estimates.

For expensive or identifiable items comparable to cell phones, wallets and laptops, The TSA has a lost and located list department. For coins and occasional paper bills that find yourself in scanner bins, TSA uses a different procedure. It collects all this money, catalogs its amount and periodically he deposits them into a special account utilized by the TSA to enhance security activities.

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That money adds up, as travelers have left behind nearly $10 million in change over the past 12 years.

The amount of money left varies depending on the airport. New York JFK International Airport is consistently situated in a single of the the best slot machines where you’ll be able to lose the most moneyand travelers will leave behind almost $60,000 in 2022. Harry Reid International Airportwhich serves Las Vegas, also reports large amounts of money being left behind. Love Field in Dallas, home of Southwest Airlinesis commonly at the bottom of the list, and has only lost about $100 in 2022.

People lose money when going through security for several reasons. First a little cross it near the airport accessand so as to not miss the plane, they don’t collect all the pieces after the screening. Secondly, sometimes TSA lines are extremely long, leaving people scrambling to make up time again. Finally, TSA checkpoints are often confusing and noisy places, especially for latest or occasional travelers. This is more confusing some airports have promoting binsthat distract travelers who just glance quickly to be certain that they do not have all their items.

How much is lost?

TSA closely tracks how much the agency is losing may keep any unclaimed money at checkpoints. TSA records show that in 2012, people left half a million dollars behind. In 2018, this number increased to almost a million. The decline in travel as a result of the Covid-19 pandemic reduced that number back to half a million in 2020. In 2023, people left $956,000 behind.

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This raw data requires two adjustments to accurately track trends in lost coins. First, the numbers must be adjusted for inflation. In 2012-2023 the price index of consumer goods and services increased by 33%. This means that a dollar of change in 2012 bought a third greater than it did 12 years later.

Second, the number of people flying and passing TSA security screening has modified dramatically over time. In 2012 approx 638 million people passed through checkpoints. By 2023, that number had grown to 859 million people, or about 1,000 people every 30 seconds across the U.S. when airports and checkpoints are open.

Taking under consideration each inflation and the number of people checked showed no change in the amount of money lost. By my calculations, in 2012, roughly $1.10 in coins was lost for every 1,000 people surveyed. In 2023, roughly one penny more was lost per 1,000 inhabitants, or $1.11.

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The peak 12 months for money loss was 2020, when $1.80 remained per 1,000 people. It probably happened because of people not wanting to the touch objects out of unjustified fear that they could come into contact with Covid-19. During the pandemic, people generally carried less money with them.

The world is they increasingly use electronic payments. However, data from TSA checkpoints clearly shows that folks are carrying coins at about the same rate as in 2012. This suggests that Americans are still using physical money, at least to make small payments – and that the desire to get rid of nickels and dimes should hold on a little longer.

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This article was originally published on : theconversation.com
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Business and Finance

Tariffs can grow, but also a black strategy

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With the rise in inflation and tariffs, black entrepreneurs don’t shrink with fear – they seem, strategies and support them forward. I saw it first hand on Tuesday evening in Russell Innovation Center for Entrepreneurs (Rice) in Atlanta, where dozens of black founders gathered on a powerful night of dialogue, combination and brightness based on solutions.

The event, a part of the continuing programming of Rice’s “retail readiness”, was greater than just a panel. It was a forum of survival – and a reminder that owners of black firms at all times had creativity and courage to adapt under pressure. At a time when economic winds are essentially the most difficult to hit products based on products, this community is predicated on strategy, not a shortage.

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Tariffs have increased, but wisdom too

One of the essential challenges was the growing load of tariffs for imported goods that increase costs around the globe – from materials and packaging to international shipping. While the specter of economic uncertainty increased, the climate within the room was not panicked.

Asked in the event that they are afraid of growing tariffs, only a few participants raised their hands. But asked in the event that they feel influence, almost everyone did that. Instead of alarm bells, the conversation focused on solutions: improvement of logistics, taking control of the warehouse, limiting unnecessary expenses and re -assessing third party suppliers.

The prevailing message: be agile, not afraid. Panelists called us to regulate surgery before making drastic changes. The goal is just not to shrink in response to pressure – it moves smarter.

Thinking about a larger, no less

Another powerful? You have to redefine what “little business” really means. Many black entrepreneurs limit their scale from habit or perceived restrictions. But, because the panel noted, in response to federal definitions, a small company can employ as much as 500 people. This implies that we’ve got a place to dream – and constructing – constructing.

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Terri-Nichelle Bradley, the founder, entered the home along with her own journey. Known for putting educational toys within the principal retailers, akin to Target, Bradley now opens her own brick store in Atlanta on May 14. It is a brave turning point that restores ownership in her hand-her story was a unique example of what it means to regain narrative and strategy.

“Black business owners do not need every answer right away,” she said within the room. “We just have to want to figure it out.”

Recovering the narrative of Dei

The conversation also concerned a hard truth: the rise in funds and guarantees of the corporate after 2020 is assumed. But the energy within the room was not bitter – it was focused. If external support dries, the reply is just not waiting – it’s best to focus again.

Daughter of Carol sold an independent entrepreneur after a decade under the property of L'Oreal USA

Panelists encouraged us to dual authenticity and a deeper reference to the communities that may already take us. This means consistently appearance, without floating and nurturing relationships with those that deliberately buy black, women and veterans.

It is just not nearly representation-it will devote property, self-determination and economic independence.

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The evening ended with a high note with practical network activities. We were asked to avoid wasting two things: what we wanted and what we can offer. Then we exchanged this information with someone in the entire room. It was greater than a icebreaker – it was a plan.

The message was crystal clear: relationships are resources. And in such rooms, cooperation is a currency.

At a time when the headlines speak about recession and withdrawal, the entrepreneurs with whom I sat do the other. They should not waiting for saving or wonderful financing. They construct their future, one deliberate movement directly.

No panic. Just a goal. And a lot of power within the room.

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This article was originally published on : thegrio.com
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Business and Finance

Hope Operation celebrates the day of green socks

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John Hope Bryant


Operation John Hope Bryant Hope celebrated the end of the month of financial knowledge On April 30 with Green Socks Day Challenge as a visual option to emphasize the importance of financial knowledge.

As a nationwide movement, Hope Bryant and the stars of the corporate world, sport and entertainment supported the challenge of Green Socks Day, wearing live socks, stating: “Put your best foot forward.” In cooperation with Operation Hope, the initiative was supported by financial knowledge for everybody (FL4A) with a view to promote financial knowledge as national priority and gain adhesion in various state lines, strengthening people, organizations and communities to take crucial activities by supporting financial education for everybody.

Participants were encouraged to take a selfie or video in green socks and publish it in social media using the hashtag # Greensocksday. The quiz can also be available to people fascinated about assessing their financial skills. According to a press release, Operation Hope will probably be distinguished by green socks on the Times Square Nasdaq in New York.

While socks may be bought at Walmart locations, other firms supporting this initiative include the most important financial institutions, comparable to the American Bank, Trust and Huntington Bank. Other firms on board are iheartmedia, Delta Air Lines, MLB, MLS, NBA, NHL, Nascar, Nasdaq, Shopify, OpenAI and UPS.

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Hope Bryant also received support from the US government at the starting of the annual celebration. Meeting with the Secretary of the Treasury Scott Bessent, two long -time colleagues emphasized the importance of financial education built into the structure of American life, discussing ways of deepening cooperation between private and non-private sectors with a view to extend access to financial tools and knowledge. “Too long, knowledge of finances was treated as a luxury,” said secretary Bessent.

“This is a necessity, just like reading and writing. John and I have been leveled in this for almost a decade and I am proud that I can stand with him in April and later.”

In addition to April, corporations, small firms and social organizations are encouraged to have interaction employees in the initiative by organizing events related to financial skills and pushing financial resources.

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This article was originally published on : www.blackenterprise.com
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Business and Finance

John Hope Bryant shares the rent into his own strategies

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John Hope Bryant


John Hope Bryant, founder and general director of Hope operations, recently shared his rent strategies, which in his opinion provide tenants with “dignity, possibility and grace.”

Bryant still conducts efforts to fill the gap in the field of racial wealth by promoting financial skills and increasing the ownership of a black house. Financial teacher he outlined compassionate and Surprising plan to assist tenants Not only construct your credit results, but in addition prepare for potential Financial difficulties. The entrepreneur was once “the largest owner of the minority of single -family houses in the country.”

  • The tenants’ rent will likely be reduced by 10%in the event that they raise their creditworthiness from 600 to 700
  • If the tenant maintains his place of residence for 18 months, he receives 1 month “Life Event Credit” for an 18-month term. This corresponds to 3 months of “free rent” in the event of monetary difficulties.
  • Tenants are also in a position to borrow from the security deposit, paying off the money in small increases over time.

Hope operation has grow to be a number one organization non -profit Dedicated to financial reinforcement. Under Bryanta’s leadership, the organization facilitated over $ 2 billion in private capital to support home properties, small corporations and community development in underestimated areas.

Despite these efforts, black home properties remain much lower than in the case of white Americans. Black home owners from 2024 it accounted for 46.4% population. However, the total variety of houses is 65.7%, said Axios.

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Bryant emphasized the importance of getting a house in Building generational wealth.

“The whole experience related to home properties is embedded in aspirative economic growth and creating wealth,” he said in the last post on Instagram.

Bryanta’s work with Hope operation still raises the black community. The organization equips individuals with knowledge and tools mandatory to realize financial stability and residential owner. He also divides financial strategies in its weekly podcast,

Due to the incontrovertible fact that efforts are in a position to bring a racial gap, Bryanta initiatives remain a central force in promoting financial skills and economic possibilities in black communities.

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(Tagstranslate) John Hope Bryant

This article was originally published on : www.blackenterprise.com
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