While Cinco de Mayo would usually mean colorful parades, a copious amount of drinking, and enjoying the fresh spring time air with your buddies, May 5th is unfortunately going to have to be celebrated indoors for a majority of Americans. Luckily, Mexican restaurants everywhere are determined to celebrate the day of Mexican independence regardless of quarantine. Across the country, restaurants both big and small are offering amazing deals to keep the party rolling. Here are some of the best deals you're gonna get tomorrow.
The fast food chain has just launched its new At Home Taco Bar campaign in an effort to satisfying your Locos Tacos addiction, and on Cinco de Mayo they're upping the ante. For tomorrow only, their best offer serves six people and includes 8 flour tortillas, 12 Crunchy Taco shells, and 6 oz. of nacho chips. But what would tacos be without toppings? The order additionally includes a toppings bar with shredded lettuce, refried beans, nacho cheese sauce, cheddar cheese, diced tomatoes, sour cream and their signature Hot Sauce packets. While they can't legally deliver liquor to your door, Taco Bell's "Taco Bar" also offers a series of recipe cards that provide instructions on how to make trendy cocktails. At only $25, this is the best bang for your buck if you're strapped for cash.
The other Mexican fast food chain has another amazing deal for those strapped for cash. With the purchase of any entree on May 5, the insanely popular chain will include a free Queso Blanco dish, with free delivery to boot.
The Mexican restaurant is having an "all-day virtual cinco celebration" tomorrow on Instagram. The 24-hour-fiesta will offer a slew of fun activities from cooking demonstrations to a live online yoga class and DJ set. The popular also promises "special surprises along the way."
The grocery chain is doing a slew of amazing discounts on Cinco de Mayo goods in honor of the beloved holiday. The deals include a $15 chicken meal for four, among other amazing discounts.
Bahama Breeze is set to host a Cinco de Mayo Happy Hour Facebook Live event at 5 PM tomorrow. The special event will feature live music from Patrick Simpson, and song requests will be granted to those who chime in. Additionally, customers will be offered a "Happy Hour Bundle" of drinks and a 15% discount order on food and non-alcoholic drinks through the end of May 17.
When you take out a loan for a car, charge something to your credit card, or get a personal line of credit, there is going to be an interest rate that applies to your loan.
A lot of different factors go into what you will be charged, including your own personal credit score. But even those with flawless credit still see a minimum charge that they can't get around. That all goes back to the Federal Funds Rate.
One thing consumers rarely realize is that all of our banks are lending money to each other every night. Banks are legally required to maintain a certain percentage of their deposits in non-interest-bearing accounts at the Federal Reserve to ensure they have enough money to cover any withdrawals that may unexpectedly come up. However, deposits can fluctuate and it's very common for some banks to exceed the requirement on certain days while some fall short. In cases like this, banks actually lend each other money to ensure they meet the minimum balance. It's a bit hard to imagine these multibillion-dollar financial institutions needing to borrow money to tide them over for a bit, but it happens every single night at the Federal Reserve. It's also a nice deal for those with balances above the reserve balance requirement to earn a bit of money with cash that would normally just be sitting there.
The Federal Reserve
The exact interest rate the banks will charge each other is a matter of negotiation between them, but the Federal Open Market Committee (FOMC) (the arm of the Federal Reserve that sets monetary policy) meets eight times a year to set a target rate. They evaluate a multitude of economic indicators including unemployment, inflation, and consumer confidence to decide the best rate to keep the country in business. The weighted average of all interest rates across these interbank loans is the effective federal funds rate.
This rate has a huge impact on the economy overall as well as your personal finances. The federal funds rate is essentially the cheapest money available to a bank and that feeds into all of the other loans they make. Banks will add a slight upcharge to the rate set by the Fed to determine what is the lowest interest that they will announce for their most creditworthy customers, also known as the prime rate. If you have a variable interest rate loan (very common with credit cards and some student loans), it's likely that the interest rate you pay is a set percentage on top of that prime rate that your lender is paying. That's why in times of low interest rates (it was set at 0% during the Great Recession), a lot of borrowers should go for fixed interest rate loans that won't increase. However, if the federal funds rate was relatively high (it went up to 20% in the early 1980's), a variable interest rate loan may be a better decision as you would be charged less interest should the rate drop without the need to refinance.
The federal funds rate also has a major impact on your investment portfolio. The stock market reacts very strongly to any changes in interest rates from the Federal Reserve, as a lower rate makes it cheaper for companies to borrow and reinvest while a higher rate may restrict capital and slow short-term growth. If you have a significant portion of your investments in equities, a small change in the federal funds rate can have a large impact on your net worth.
Whether you're leaving a job involuntarily, departing for something new, or just want to prepare for the unknown, it is smart to understand all your options regarding your 401k.
Frugal gifting often gets a bad reputation. However, this shopping method does not make you cheap — it makes you practical. Frugal gifts often avoid waste and overspending and can be just as meaningful (if not more so) as any other present.
With the National Retail Federation predicting each consumer this holiday season to spend upwards of $1,000 on holiday gifts amidst an economic recession —this year might be the perfect time to reconsider your spending budget. We've formulated the ultimate list of frugal gift-giving ideas to get you started.