Target's had enough of 'abusive' shoppers! Discover their new policy plus a kid-friendly idea that could earn you $1M!

Newsletter Sep 30, 2024 Welcome to your September 30 newsletter! Today, we'll explore how Target is combating abusive customers who exploit their return policy, along with some exciting news for Southwest flyers. Plus, discover business ideas that could earn you up to $1M by registering on selling platforms like Etsy! In the Fast Lane of Business... > Target has updated its return policy after years of abuse, including customers returning stolen or heavily used items. The revised policy allows Target to deny returns, refunds, and exchanges in cases of suspected fraud or misuse. This change comes as theft and return fraud continue to rise, with employees reporting numerous incidents of customers exploiting the previous lenient policy. Additionally, Target announced it will no longer accept personal checks as a form of payment starting in July 2024. > The International Longshoremen's Association is set to begin a strike on October 1 due to stalled contract negotiations, primarily over wage increases. The strike, involving 85,000 members across Atlantic and Gulf Coast ports, could lead to significant disruptions in imports and exports, affecting industries like automobiles, pharmaceuticals, and retail. Retailers and manufacturers are bracing for potential shipment delays and price hikes as supply chains are impacted, with some ports rushing to move goods ahead of the strike. Trade groups have urged the Biden administration to intervene, warning of severe economic consequences. > Southwest Airlines outlined a new three-year plan aiming to boost profits by $4 billion by 2027, featuring extra legroom seats, assigned seating, international partnerships, and overnight flights. The plan comes as Southwest faces pressure from Elliott Investment Management, which is calling for leadership changes. Southwest also raised its third-quarter revenue forecast and authorized $2.5 billion in share buybacks. Despite ongoing tensions with Elliott, CEO Bob Jordan defended the airline's long-term strategy and addressed operational challenges, including Boeing delivery delays affecting growth plans. Unique Business Idea For You Lisa Fink Lisa Fink, a former middle school teacher, turned financial hardship into success by creating and selling kid-friendly printable games, which grew into a six-figure monthly business. After her husband lost his job, Fink started her side hustle to help pay bills, eventually launching her website ThinkTankTeacher.com and selling products on Teachers Pay Teachers. Within six months, she was earning five figures monthly, expanding her business to Shopify and Etsy while diversifying her products. Fink now also runs a second side hustle, teaching others how to create and sell educational printables, with her entrepreneurial journey bringing in over $1 million in revenue. Side Hustle You'd Be Crazy Not to Try Emily Sutton Emily Odio-Sutton started her print-on-demand side hustle on Etsy in 2022 after realizing her full-time job would limit time with her children. Her first sale was a $22 speech pathology-themed T-shirt, and her store generated $220,300 in revenue last year, with 30% profit. She has since opened a second Etsy shop selling downloadable event materials and reduced her job hours to part-time, earning $40 per hour while managing her Etsy business in 10 hours per week. Odio-Sutton emphasizes the importance of research, experimenting with designs, and narrowing down niches to succeed on Etsy. Personal Finance News to Boost Your Bank Account > The Private Residential Mortgage Lending report highlights concerns about the increasing reliance on private mortgages, particularly by borrowers lacking clear exit strategies. FSRA recognizes private lenders as crucial for underserved borrowers but warns that their rapid growth, often catering to higher-risk clients, could pose challenges to both consumers and the financial system. A 2023 survey revealed that 43% of Ontario homeowners using private lenders had no plan to transition to traditional mortgages, raising concerns about long-term financial stability. FSRA has implemented new licensing requirements and continues to monitor the private lending market to ensure consumer protection and proper regulatory oversight. > Michelle and Ryan, despite a net worth of $970,000, struggle with daily finances, as they frequently dip into their savings to cover expenses, even with Ryan earning $140,000 annually. Their monthly fixed costs exceed their income, and impulse spending on non-essentials like Amazon and Target contributes to their financial strain. Ramit Sethi advised them to cut non-essential spending by 50% and reconsider their mindset about necessary purchases, particularly for their kids. While they are well-prepared for retirement, Sethi suggested reducing investments temporarily to improve cash flow and regain control over their current financial situation. > A Morningstar study found that 45% of Americans retiring at 65 face the risk of running out of money, with single women having the highest risk at 55%. Factors like retirement age, health conditions, and Social Security timing influence financial outcomes, with early retirees facing increased risks. Many people remain unprepared due to poor tax planning, inefficient withdrawals, and premature retirement plan cash-outs, leading to higher tax liabilities and lower returns. Experts suggest using strategies like Roth IRAs, diversifying investments, and balancing risks to avoid financial shortfalls in retirement. In partnership with Pedestal Pedestal : Bubble Gum7 "Tired of clunky, wooden, and dull TV stands that don't tie in with the rest of your space's aesthetic? Check out Pedestal TV stands - a Danish interior brand that is serious about quality, functionality, simplicity, and cares for the environment." © 2024 IBT Media 40 Bank St, Canary Wharf, London, E145NR