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SEBI Circular on Segregation & Monitoring : The Impact

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December 1, 2021, will see a major change in how the Indian markets operate , coming on the heels of the changeover to 100% margining system and just prior to the T+1 settlement system.  There are major implications for clients and the broking community at large of such changes.

This article presents a brief on the same.

Background

SEBI has been strengthening the capital market and market intermediary infrastructure and this pace seems to have been hastened after a wide variety of issues faced in recent years including:

  • Outright frauds and misreporting by brokers
  • Misuse of client collaterals and Power of Attorneys
  • Genuine default by one large client resulting in overall default at CM/TM levels
  • Strain caused on entire market by one large default
  • Finally, lack of quick and orderly management of client collaterals when defaults happened

The Enhanced Supervision circulars of 2016 created a series of regulations around how brokers and clearing members need to be monitored and that was followed by upfront margining in cash segment, reduction in leverages and of course, the introduction of the pledge/unpledge system.

The eventual objective is simple: The end use of a clients money should be by the same client and one clients default should be limited to the client herself and cause nil to limited damage to the connected trading and clearing members. And to that extent, attempt to create a straight line of sight across the system that ensures minimum damage in case of default AND rooting out unethical practises or weak brokers.

Example, when one client puts collateral as cash and securities, and while the client may get limits only against this at the broker end, the actual usage of some of the collateral may be for someone else’s debits or settlement obligations– so If this “someone else” defaults, an unrelated party may lose their deposit. This is unlikely only if the end limits at the Clearing Corporation are also given the same way as the brokers risk management system. This is the intended straight line of visibility!

The New Circular

Post Sep 1 2020, client securities were effectively available only for the clients both at the trading and clearing member level via the pledge/repledge system. However, the risk of comingling and intermingling of cash equivalent still existed. A new circular puts an end to that. (https://www.sebi.gov.in/legal/circulars/jul-2021/segregation-and-monitoring-of-collateral-at-client-level_51265.html)

This new circular has comprehensive portions on how the line of visibility is to be created across the system and how the new system would need a revised style of working from December 1, 2021 (Reporting has already started from October 1 2021 but beyond that, the actual practices would start from December 1, 2021).

Instead of going into all aspects of the circular – which are very explanatory (for those who are interested, please do visit the Youtube pages of ANMI and BSE BROKERS FORUM for more on this), we present below the salient aspects of how this may impact clients.

Note that a lot of these aspects are still open and not concluded so the content below is on a best effort basis to educate you on changes:

  • Currently, brokers give limits on combined basis across segments. However, the circular talks about allocation of collateral versus each segment – and therefore, this system will necessitate changes to how traders and brokers operate and clients would have to indicate in advance where (cash, derivatives etc) they wish to trade.
  • Clients currently provide in many cases the entire stock collateral as a deposit and no cash or cash equivalent. The clearing member however is expected to maintain a 50/50 (minimum 50% cash) ratio at the clearing corporation. Commercially, many brokers charged interest on the cash deficit while others didn’t – its likely however that brokers would now charge interest on this portion funded OR not allow limits beyond 2x of the cash available. Remember the definition of cash equivalent includes fixed deposits, liquid mutual funds so please start to plan accordingly.
  • Brokers are at times giving limits during the day based on uncleared cheques expected to clear by T+1 – however, this practice may reduce as this would create mismatches between the data at the clearing corporation and the actual limits utilized at the broker level.
  • Finally, as of now, the broker was put on a risk reduction (RR Mode of 90%) based on excess utilization versus excess funds at the broker level. This excess utilization didn’t take into account individual cases (left to broker) at the clearing member level and didn’t impact RR Modes. Now the new formulae ask the broker to individually add the clients over 90% of margin utilization and this excess has to be instantly funded by the trading member else the member would be put on an RR mode across all clients. This would mean additional pressure on trading members to some extent to keep excess collateral and therefore tighter risk management as any ad hoc limits against promised cheques etc would mean potential risk to all clients.

All of the above information at various disaggregated and segregated levels would be available and monitored on a live basis to ensure limits are curtailed to the “optimal” level and hence, brokers would require to keep more proprietary collateral as buffer to avoid the RR mode as well.

In addition to the above, there are substantial portions in the circular on how default management and provision of collateral back to clients of defaulting members should be handled.

The circular also asks the market intermediaries to ensure that the clients can be shown their allocated margins on web portals so they also have visibility alongwith the entire chain of intermediaries and that this prevents misutilisation or misrepresentation.

What Happens Next

The guidelines are meant to ensure basically the following behavior

  • Give enough liquid and stock collateral against your positions so that ones problem doesn’t spread to others
  • Get a clear view of where your collateral is at any moment in time so that even if the regulator misses something, you don’t
  • Trade only with the margins you have provided and don’t ask the broker for additional leverage that can create additional issues
  • Regulators will ensure that what you see is what you get
  • And finally, brokers need to have adequate cash flow and proprietary collaterals at any point of time commensurate with their level of business to ensure no major risk to overall system.

The intent is very simple and extremely sophisticated – most advanced countries do not have this level of disaggregation and India would be one of the first ones to achieve this landmark.

Having said that however, a large number of operational changes would need to be carried out to bring this entire new system to life and including at the exchange level as well. Example, today when a position is taken by a client, it’s the members collateral that gets blocked and then immediately released and client collateral blocked. But  now it would be the reverse. Or for that matter, the pledge and repledge processes would have to be more online instead of once a day so that client level collateral can be properly tracked. Bringing all the systems in sync is one challenge that is being overcome by brokers at this time.

However, since there are only two expiries left prior to this regulation going live, do plan your trades as well as deposits properly – keep approved collaterals to the maximum extent possible as unapproved collaterals may face hitches as its a massive burden on brokers to fund this. Keep diversified good quality portfolios at broker level and keep some extra cash handy – liquid mutual funds could be parked with your brokers instead of bank FDs as anyway its likely that these will yield better than Bank FDs.

Keep watching this space for more as we keep informing you on how things evolve and policies change over the next 45 days!

Meanwhile , do use this festive weekend to stay safe and also do drop us referrals of your friend who might want to open a trading account via https://www.plindia.com/clientreferral/ . Do of course visit our Digital Advisory boutique at https://www.plindia.com/strategyshop/ to shortlist any of our external advisor strategies to build your trading and investment portfolios simply and safely!

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Technology

StrapsCo Review – Digital Addicts

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In this age where technological advancements are simultaneous and rapid, even basic mechanical accessories like watches have gone digital. In fact, there are now smartwatches that basically function like smartphones. There are also those meant to help with one’s fitness goals or to assist in monitoring one’s health conditions, as well as in maintaining a healthy productive lifestyle. Indeed, even in the world of watches, we’ve gone a long way through the help of technology.

Equally important to the head or the screen of the wristwatch are the straps that technically hold everything together. Unfortunately for most brands or types, the watch bands are given the least attention to details, making them the first ones to get damaged. Hence, a company known as StrapsCo has made it their main goal to provide stylish and trendy straps without compromising the quality – a blend of aesthetics and functionality at its finest. So, you’d better appreciate how they go the extra mile just to produce straps to meet consumers’ needs and wants, here’s an in-depth StrapsCo review. We’ve personally tested some of their products so you can rest assured we’ll only be sharing first-hand experiences and fair judgments.

What Is StrapsCo?

StrapsCo was birthed from an individual’s mere enthusiasm for watches. With the frustration of the scarcity of reasonably priced straps that are suitable replacements for the original, Martin – the founder- started to put together a concrete business plan that could efficiently materialize his ideas. His newly strapped Breitling Navitimer, which he personally designed, was then the start of this watch band empire we all know today.

StrapsCo offers a robust collection of straps – from basic watch bands to smartwatch bands to Fitbit bands to OEM bands. They also offer essential repair and maintenance tools, as well as basic parts like spring bars, buckles, and clasps. They make use of diverse materials and they offer a myriad of collections, making shopping at StrapsCo always a fun and exciting experience. 

Depending on your preferences, you can shop by size, brand, material, design, and lock type. Rest assured that you won’t get bored choosing, regardless if you’re into leather, nato, rubber, steel, vintage, or rally. Also, if you’re tech-savvy, they have an exquisite selection of Fitbit bands – from Fitbit Blaze to Fitbit Sense. Aside from Fitbit, they also have a wide array of options for major brands like Apple Watch, Samsung, and Garmin. Then, even if you’re a consumer who sticks with the basics and classics, you can surely find a suitable replacement strap for your Seiko, Rolex, Tag Heuer, Luminox, Hublot, and various other brands.

The innovative and classy designs are what attracted us to look into StrapsCo bands. Browsing through their collections alone is a treat for the eyes because of the exquisite cuts and designs. Surprisingly, upon testing a couple of their products, we’ve confirmed that the many online reviewers aren’t overreacting – this brand has done a great job in infusing aesthetics and functionality. Furthermore, everything’s offered at reasonably affordable prices. 

What We Think of StrapsCo Products

strapsco review

We’ve personally tried their 20mm Leather Smart Watch Strap and the Buckle-and-tuck Perforated Rubber Band for Samsung Galaxy Watch 3. Both products are well-crafted and exquisitely designed down to the smallest details. These smartwatch straps are classy yet trendy, grand yet comfortable.

Whether you’re looking for Fitbit bands, smartwatch bands, or OEM bands, StrapsCo wouldn’t disappoint you. The sizes chart alone comprises a long list of choices – from XS to XL, from 8mm to 44 mm. The colors collections also add up to the fun and excitement as almost all of their straps are available in almost all shades and hues. 

StrapsCo is a one-stop shop for stylish and high-quality bands. They have a wide array of products you can choose from and for sure, you can find a few that could best fit your needs, preferences, and standards. 

StrapsCo offers various watch bands made of different materials. You can choose from leather bands, nato straps, rubber, stainless steel, vintage, rally, croc & alligator. 

Their leather watch bands come in three different styles – classic leather, vintage, and suede. Usually made of nylon, carbon fiber, canvas, and Italian silk, their nato straps aren’t only stylish but also durable and snug. The rubber straps also offer various colors and styles, are designed for comfort, and are perfect for active lifestyles. These are usually made of silicone, vulcanized rubber, polymer (PU), and PVC. The metal watch bands offer a sleek look that can effortlessly add character to the person wearing it – it comes in black, gold, and silver. StrapsCo also offers a rally strap, also known as a racing watch strap, which looks sporty and trendy.

If you’re into sports or fitness and are wearing a health-monitoring smartwatch, you can surely find a suitable strap from StrapsCo. They have available straps for all Fitbit versions from Blaze to Sense. You can choose from rubber straps to metal bracelets to leather bands. You can customize and accessorize your Fitbit gadget. StrapsCo even offers screen protectors, protective cases, and USB chargers.

So aside from health and fitness trackers, StrapsCo has also designed bands for various smartwatches, including major brands like Apple, Samsung, Garmin, and Suunto. Similarly, they offer sleek and exquisite designs while ensuring the safety and security of your compact gadgets. They create professionally looking stainless steel, casual leather straps, sporty rally straps, and fun printed silicone straps.

Original Equipment Manufacturer bands or more commonly known as OEM bands are also included in the vast collection of StrapsCo. They offer a myriad of choices for Rolex, Breitling, Panerai, IWC, Luminox, Seiko, Hublot, Bell & Ross, Omega, TW Steel, Tag Heuer, and several other OEM bands. You can rest assured you’ll be receiving the same quality as the original straps.

Is StrapsCo Legit and Worth Getting?

If you’re big on styles and designs, we’re sure StrapsCo is a suitable brand for you. The same is true if the quality and materials are non-negotiable for you. StrapsCo products have pretty much covered all the bases – materials, cuts, colors, styles, patterns, craftsmanship. 

On top of those impressive aspects, StrapsCo watch bands are surprisingly affordable. With StrapsCo, now you can finally wear your favorite wrist watches with style and comfort without getting your pockets drained. 

Overall, this legit watch band provider trusted by hundreds of thousands of consumers would surely provide great value for your money.

Related Post: MacPaw Products Review

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Finance

College Campuses Are Great Coworking Spaces

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This post may contain affiliate links.Financial Panther has partnered with AwardWallet and CardRatings for our coverage of credit card products. Financial Panther, AwardWallet, and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.

When I quit my job back in 2019 to blog and do gig work full-time, I found myself needing a place to work. I’m one of those people that doesn’t work well from home – I get distracted way too easily – so I always have to get out of the house to do work.

Fortunately, back in 2019, the American Express Business Platinum card had what I think is one of the best deals it has ever had. If you got the card, not only did you get the signup bonus and all the other benefits that came with the card, you also got a free 1-year membership to WeWork. At the time, the card had a $595 annual fee, which easily made it worthwhile for me. Even if I didn’t get the signup bonus or any other benefits from the card, I still would’ve gotten it because it gave me a WeWork membership for effectively $50 per month.

I loved my WeWork membership. It gave me a great space to work. Free coffee. The occasional snacks. And I felt like a professional since I was in an office working with other young people. The amazing thing was that my WeWork membership let me work from other WeWork offices too, so I could have a nice place to work, even when I was traveling. I worked from WeWork offices in Washington DC, Chicago, New York, and Austin during that year and loved that feeling of being a digital nomad.

The WeWork office I worked from most days.

At the beginning of 2020, American Express extended the WeWork benefit for another year, so I renewed my Business Platinum card since the WeWork membership made the annual fee worth it.

You can probably guess what happened next. The pandemic suddenly hit in March and I stopped going to the WeWork. I switched to working from home and I let my membership lapse at the end of the year.

Once I was fully vaccinated, I wanted to get back out there. But without my American Express WeWork benefit, I would have needed to pay for a coworking space. The spaces I did find all cost about $200 per month – a bit much for me (especially since my coworking membership had been basically free for two years).

I tried a bunch of different places as a coworking space alternative. I started out in coffee shops. Did the occasional visit to a library. But then, I found what I think is the best free coworking space available – college campuses.

Here’s why I think college campuses make great coworking spaces.

Why College Campuses Make Great Coworking Spaces

Doing my work from campus made a lot of sense. I lived in a college neighborhood, so the campus was always a defining feature for me.

My son’s daycare was also by campus, so it worked out well. I could drop him off in the morning, then make my way over to school to get some work done. At the end of the day, I could swing by the daycare and pick him up, then make our way home. When we moved to a different house farther away from campus, we kept my son in the same daycare, so it’s still been easy for me to drop my son off at daycare, then head off to campus to do work.

When you think about it, college campuses are built for coworking. Consider all the features they have:

  • Nice buildings and tons of comfortable spaces to work from. Finding a good table to work from has never been a problem.
  • Free WiFi everywhere.
  • Plenty of outlets you can use, so I can easily charge all my devices.
  • Lots of young people working, which gives a lot of energy to the place.
  • Tons of food options, so I can always get a good lunch or snack.
  • Water fountains (and filtered water even).
  • Clean public bathrooms.
  • Lots of bike parking. And during the day, it’s pretty safe to leave my bike locked up outside because there’s so much foot traffic from students.

All these features were a major improvement from working in a coffee shop. While I like coffee shops, the popular ones are always really crowded during the day, which makes finding a spot to work difficult. In a coffee shop, I always had to buy coffee too, which meant spending a few dollars every day on something I didn’t always need.

By contrast, I’ve never had issues finding a comfortable spot to work on campus. There are so many tables and places to work that if I can’t find somewhere to work in one place, I can easily head to another.

No one ever bothers me either, even though I’m not a student. If it’s a public college, I think they always have to be open to the public during the day, so access has never been an issue for me. It also helps that I look pretty young. Even though I’m in my mid-30s, I can easily pass for a grad student. If you’re older (or look older), maybe you’ll feel more self-conscious working next to a bunch of students, but I feel like a student when I’m here.

Since there are so many different buildings to work from, I can also switch up where I’m working from, although I’ve found myself sticking to three main places (which I’ll talk about in more detail in the next section).

Where To Work On A College Campus

I’ve found myself gravitating towards three main places on my college campus. The first is the student union. There are two places in the union that work out particularly well. The first is a seating area near a Starbucks. It’s nicknamed “the Cube” because it’s shaped like a cube and has huge windows all along the walls. Interestingly enough, it’s where I did all my studying back when I was in law school.

the cube
The student union makes for a comfortable, bright working area.

In the summer, the Cube works out really well because most students are on summer break, so there’s always plenty of seating. It’s a bit less convenient during the school year since a lot of the good tables get taken pretty quickly in the morning, but if I get there early enough, I can usually snag a decent table.

Another option in the student union is the bowling alley in the basement. You wouldn’t think of a bowling alley as a good place to work, but it’s surprisingly comfortable. It’s not busy during the day (who bowls in the middle of the school day, after all). There are a ton of tables with outlets nearby. And you can order cheap food there too.

The final place I discovered that’s a great spot for me to work is the alumni center. This is a big building that usually holds events and conferences, but there’s a great seating area with a fireplace, tables, and lots of plugs. It’s super comfortable and almost always empty. I don’t think a lot of students realize this is a place that’s open to students.

college campus coworking
The alumni center has a great space to sit down and do work. Having a cozy fireplace isn’t bad either.

Saving the $200 per month has been nice. Sure, I don’t have a fancy formal coworking space anymore. But it doesn’t matter too much when you have great places like this to work from.

Final Thoughts

The biggest benefit of using a college campus as a coworking space is that it’s free. I can even bring my own coffee from home if I want to!

I’ve always been a fan of college campuses. Whenever I visit new cities, I almost always check out the local colleges to see what they look like. The nice thing is if you’re looking for a free coworking alternative, I can probably bet that you have a college campus near you that would make for a great, free coworking space.

I did like my WeWork membership a lot. But since I realized I could work from campus and get a lot of the same feel, I haven’t felt like I need to get a coworking membership. Until something changes, this is what I’ll be doing for a while.

More Recommended Ebike/Scooters

Check out these other ebikes/scooters I’ve had the chance to do a review for:

    • GEN3 Outcross Bike – The GEN3 Outcross is a solid, affordable fat tire ebike that does a good job of doing what I need it to do. It works great for city riding, giving me a smooth ride in all conditions. It’s works really well as a winter ebike since the fat tires give it good traction over snow and ice. Check out my GEN3 Outcross Review.

 

    • Himiway Escape Bike – The Himiway Escape is an interesting bike for anyone looking for a moped-style ebike. If you’re a gig economy worker, the Himiway Escape is particularly interesting and it’s possible to think of it as an investment, especially if you can opt to do deliveries with the Himiway versus using a car. It’s not cheap, but you can definitely make your money back when you compare the mileage you’ll put on your car versus using an ebike. Check out my Himiway Escape Bike Review.

 

    • Espin Sport Bike – The Espin Sport is a good ebike for someone who is looking for an ebike that feels and rides more like a regular bike. There are many ebikes that are really only bikes in name. In reality, they’re basically electric mopeds. The Espin Sport, by contrast, is a bike you could probably ride without the battery and you’d feel like you’re just riding a regular bike. Check out my Espin Sport Review.

 

    • Varla Eagle One Scooter – The Varla Eagle One is an excellent scooter that can make sense for a lot of people. It can work as a primary mode of transportation. You can use it to work on gig economy apps like DoorDash, Uber Eats, and Grubhub. And it can also be a recreational vehicle if you’d prefer to use it for that. Check out my Varla Eagle One Review.

 

    • Fucare H3 Scooter – The Fucare H3 is a fun scooter and I’ve enjoyed testing it out. For a daily commuter or quick trips or errands, the Fucare H3 is probably the scooter I’ll use. It’s portable and easy to maneuver, so it’s just easier to take on the road when I need it. Check out my Fucare H3 Scooter Review.

 

More Recommended Investing App Bonuses

For additional investing app bonuses, be sure to check out the ones below:

 

    • SoFi Invest ($25) – SoFi Invest is an easy brokerage account bonus that you can earn with just a few minutes of work. Use my SoFi Invest referral link, fund your SoFi Invest brokerage account with $100 and you’ll get $25 of free stock. I also have a step-by-step guide for the SoFi Invest referral bonus.

 

    • Moomoo (5 free stocks) – Moomoo is a free investing app currently offering 5 free stocks (usually worth around $75-$100) if you open an account using a referral link and deposit $2,000. Read my Moomoo referral bonus guide for more information.

 

 

    • Robinhood (1 free stock) – Robinhood gives you a free stock valued between $2.50-$225 if you open an account using my referral link.

 

    • Public (1 free stock) – Public gives you a free stock valued between $3-$70 if you open an account using my referral link.

 

Recommended Bank Account Bonuses

If you’re looking for easy bank bonuses, check out the below options. These bonuses are all easy to earn and have no fees or minimum balance requirements to worry about.

    • Chime ($100) – Chime is a free bank account that offers a referral bonus if you use a referral link and complete a direct deposit of $200 or more. In practice, any ACH transfer into this account triggers the bonus. This bonus is easy to earn and posts instantly, so you’ll know if you met the requirements as soon as you move money into the account. I wrote a step-by-step guide on how to earn your Chime referral bonus that I recommend you check out.

 

    • SoFi Money ($25) – SoFi Money is a free checking account from SoFi. They’re currently a $25 referral bonus if you open a SoFi Money account with a referral link. This is a good bank that is also 100% free, so you won’t have to worry about managing this account. Here’s a post I wrote with instructions on how to earn your SoFi Money bonus: SoFi Money Referral Bonus: Step By Step Guide.

 

    • Brex ($250) – Brex is a free business cash management account that is offering new users a $250 Amazon gift card if you sign up using a referral link and meet certain requirements. It’s an easy bonus to earn and well worth doing. Here is my Brex Card Referral Bonus Step By Step Guide.

 

    • Current ($50) – Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link.Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone. Check out my step-by-step guide on how to earn your Current Bank bonus.

 

    • Spiral ($50) – Spiral is a fintech bank that’s currently offering new customers a $50 signup bonus after opening a free checking account with them. The Spiral referral bonus is especially good because it’s a free checking account and doesn’t require a direct deposit to earn the bonus. Here is my step-by-step guide on how to earn your Spiral Bank bonus.

 

    • Nearside ($90) – Nearside is a free business checking account that’s currently offering a $40 signup bonus and a $50 referral bonus if you open a Nearside business checking account using a referral link. Filling out the application should only take you a few minutes. And the bonus terms are easy to meet. Check out my Nearside signup and referral bonus guide here.

 

    • OnJuno ($100) – OnJuno is a fintech/neobank that is currently offering a $100 referral bonus if you open an account using a referral link and complete a direct deposit of $250 or more. The account has no fees or minimum balance requirements. Even better, the bonus posts immediately after you meet the requirements. If you can meet the direct deposit requirements, OnJuno is an easy bank bonus that’s worth snagging. Check out my OnJuno referral bonus guide here.

 

    • Fairwinds Credit Union ($100) – Fairwinds Credit Union is offering a referral bonus for users that sign up using a referral link. Fairwinds has no fees or minimum balance, so this is a particularly easy bonus to earn. Since this is a smaller credit union, my gut instinct tells me this offer won’t be around long, so if you’re in a position to meet the bonus requirements, grab this bonus before it’s gone. Here is my step-by-step guide on how to earn your Fairwinds Credit Union bonus.

 

    • Albert ($150) – If you can manage to do a real direct deposit, Albert is an easy account you can use to earn a referral bonus. Here’s a review about Albert I wrote. And here’s a step-by-step guide on how to earn your Albert referral bonus.

 

    • Fifth Third Bank ($350) – Fifth Third Bank is currently offering new customers a $350 signup bonus after opening a new account and meeting certain requirements. This offer is limited to customers in the following states: Florida, Georgia, Illinois, Indiana, Kentucky, Michigan, North Carolina, Ohio, Tennessee, West Virginia, and South Carolina. If you live or visit one of these states, make sure to take advantage of this high bonus. Check out my post on Fifth Third Bank to learn more.

 

    • Varo ($50) – Varo is a free fintech banking app similar to Chime or Current. It’s currently offering a $50 bonus to new users that open a new Varo account with a referral link. The bonus for this bank is very easy to meet, all you need to do is spend $20 within 30 days of opening your Varo account. Check out my step-by-step guide to learn how to earn this bonus.

 

    • One Finance ($50) – One Finance is a fintech bank that’s currently offering a $50 signup bonus if you open an account using a One Finance referral link and have a direct deposit of $250 or more. This is a completely free bank account with no minimum balance requirement, so if you can meet the requirements, it’s worth doing. Check out my One Finance referral bonus guide here.

 

    • Netspend ($20 + 5% Interest Savings Account) – Netspend is a company that provides 5% interest savings accounts. If you sign up using my referral link, you’ll get a $20 signup bonus once you make your first deposit into your Netspend account of $40 or more. That means you get a 5% interest savings account and a free $20 to start! Make sure to check out my in-depth guide on how to set up these accounts.

 

financial panther

Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.

Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.

Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin’s favorite fintech apps include:

  • Personal Capital. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.
  • SoFi Money. A really good checking account with absolutely no fees. You’ll get a $25 referral bonus if you open a SoFi Money account with a referral link.
  • Brex. Brex is a free business cash management account that is currently offering new users a $250 Amazon gift card if you sign up using a referral link and meet certain requirements.
  • M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $50 for opening an account.
  • Albert. A great free app I use to track my finances and save more money. You can also earn a $150 signup bonus if you open a free Albert cash account.

Feel free to send Kevin a message here.

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Sports

Bronze for Longosiwa as Imali sets another record at Africa Championships in Mauritius – DAILY SPORT

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Reigning Africa under 20 5,00m bronze medalist won bronze for Kenya in the opening day of Africa Senior Athletics championships in Reduit, Mauritius.

Longosiwa finished third behind Ethiopian pair of Moges Teumay and Chimdesa Debele who won gold and silver medals in 10,000m.

At the same time, national 100m champion Maximilla Imali smashed her national 100m record.

The reigning Africa Games 100m bronze medalist erased her previous record of 11.35 seconds that she set at the Athletics Kenya National Championships in April this year with a new National Record and personal best of 11.26 seconds.

Imali sailed to tomorrow’s finals as the fastest loser in heat three which was won by South Africa’s Carina Horn who pulled 11.08 seconds with Tima Godbless coming second in 11.25.

Africa Games 100m silver medallist, Eunice Mrandufu Kadogo did not make it to the finals as she finished in sixth place in a time of 11.99

The 2016 African Championships bronze medallist, Gina Bass from Gambia won heat one when she lowered her time to 11.08 with Quincy Malekani coming second in 11.32 seconds.

Nigerien national records holder for the 200m and 400m, Seyni Aminatou won the heat three race with a new personal best of 11.05 seconds and she was followed by Zambia’s Hellen Makumba in a time of 11.42.

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