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Russell and Ciara Wilson provided students in West Seattle with sound financial advice and cash to help break the cycle of poverty.

The A-list couple surprised students at the Denny International Middle School via a virtual visit. They talked to the students about financial literacy and building wealth.

They also donated $40 seed money ($36,000) to 900 students so each student can open their own bank account.

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Russell, 32, and Ciara, 35, taught the students about investing and compounding interest in their savings accounts. The children were told they can't touch the funds in their bank accounts until they turn 18 years old.

"All these things can pay back tremendously if you invest in them in the right way," Ciara said. "Investing is very powerful, and it will also allow you to create an opportunity to build legacy for your family."

The virtual event was arranged in partnership with the NFL Player's Association and Goalsetter, the New York-based financial technology company.

Photo by Earl Gibson III/Getty Images

After days of arguing back and forth, the Senate finally reached a bipartisan agreement on President Donald Trump's $2 trillion economic stimulus package deal early Wednesday.

The bill contains checks ranging from $1,200 to $4,500 for individuals and small business owners. Families will receive an additional $500 for each child.

Checks for $1,200 will be sent directly to taxpayers who earned less than $75,000 a year in 2018.

But before you start spending money you haven't received yet, Tamar Braxton's fiancé, David Adefeso is sharing financial advice on his Instagram account.

The stock market is soaring on the news of the economic stimulus deal. David thinks you should take some of that federal money and invest it for your future.
 


 

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Small businesses including retailers, restaurants, real estate and personal care professionals, comprise the largest employer pool in the U.S. They are also some of the hardest hit during this shutdown because many haven’t built up enough cash reserves to account for the plunge in revenues they are currently experiencing, with no end in sight. Mass furloughs and layoffs by small businesses could drastically drive up the unemployment rate and cause consumer spending to plunge precipitously, thereby extending the inevitable recession. To make loans cheaper the Federal Reserve reduced interest rates to close to zero and Congress is currently debating measures to aid small businesses, including loan guarantees. For those who need immediate assistance, a growing list of programs exist to help small businesses, including emergency funding from the government, protection from eviction and business loan deferment. The Small Business Administration’s website (www.sba.gov) is a good place to start for information on some of these programs. “Together We Stand; But Divided We Fall”.

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