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How Much Do You Need to Save for Retirement?

Posted by Brandes Elitch on Mon, Apr 17, 2017 @ 09:13 AM

It seems like every time you pick up the business section of the paper you see an article in the personal finance column about the “impending retirement disaster” that is looming for Americans. These articles typically point out that most people are not saving anywhere near what they will need for retirement, and thus, will not have enough money to live on when they do. In this article, we will evaluate the statistics behind these observations; then point out how CrossCheck can help your customers.

The median wage earner retiring at 67 years of age will typically get a social security monthly check for $1606, or $2409 if there is a spousal benefit. Compare this to someone who is working and making $54,000 a year, who would keep about $3500 a month after taxes and their contribution to their 401(k) plan.

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Tags: Multiple Check

The True Cost of Debt and Alternatives to Debt

Posted by Brandes Elitch on Sat, Mar 11, 2017 @ 10:00 AM

Today we’ll take a look at three types of debt, the true cost of debt, and discuss how to be smart about taking on debt.

First, let’s look at having a mortgage for your house. About 63% of Americans have a house and most of them have a mortgage. The Federal Reserve Bank of St. Louis reports that the median sales price of a new home is $316,000. Obviously, most people wouldn’t have that kind of money in liquid assets, so they would need a mortgage. Another way to look at it is if you want to build a 2,000 square foot house, it will cost you at least $150 a square foot, which is $305,000 right there. Aside from being a kind of “forced saving,” a mortgage has another benefit: it is also “preferred debt.” This means that the interest is tax-deductible. Contrast this with non-preferred debt, such as revolving credit card charges, car loans, and student loans.

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Tags: Multiple Check

CrossCheck & Auto Dealerships Celebrate 100 Years of NADA

Posted by Joe Gargiulo on Thu, Nov 17, 2016 @ 04:00 PM

The buzz surrounding the 2017 NADA Convention & Expo has reached the CrossCheck headquarters in Petaluma, California where key personnel are planning their visit to New Orleans and fine-tuning the presentation of payment solutions that have helped auto dealerships increase profits over the last four decades.

Founded in 1983, CrossCheck has been a longtime participant on the floor of the exhibitor showcase where its staff will command a booth and break away to catch a few interesting workshops.

The festivities begin Thursday, January 26 when guests will be entertained at NADA 100 Carnival, an opening gala featuring Foreigner, Cowboy Mouth and local jazz musicians as well as cuisine from the top restaurants in the Crescent City. This event is located at Mardi Gras World, the renowned pavilion where most Mardi Gras floats are built by hand.

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Tags: NADA, Multiple Check, Auto Dealerships

Six Reasons for Home Furnishings Dealers to Attend 2017 Winter LVM

Posted by Joe Gargiulo on Wed, Nov 16, 2016 @ 01:00 PM

CrossCheck returns to the “Entertainment Capital of the World” on January 22 – 26, 2017 for the 2017 Winter Las Vegas Market. The event is the most comprehensive cross-category wholesale tradeshow for the furniture, home décor and gift industries in the United States, presenting a unique cross-section of over 3,000 resources in an unrivaled setting.

LVM (summer and winter) enables home furnishings dealers and designers to shop a broad assortment of products from thousands of companies making furniture, mattresses, lighting, decorative accessories, floor coverings, home textiles, tabletop, general gift and more.

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Tags: Home Furnishings, Las Vegas Market, Multiple Check

Auto Dealership Fun: Top Five Pickups for Tailgate Parties

Posted by Kevin Walli on Fri, Sep 30, 2016 @ 07:00 AM

It’s football season and with that comes some serious tailgating before the big games. The parking lot is full of cars, trucks and RVs getting their barbeques fired up for brats, burgers, steaks, dogs or whatever else is on the menu. A tailgate party requires an adequate set up with chairs, tables, cooler, grill, condiments and sometimes a TV to watch the pre-game shows. The right vehicle, especially one just driven off an auto dealership lot, makes it that much more enjoyable.

Inspired by a CARFAX article about the five best used cars for tailgating, we researched five popular pickups because they have a decided edge over cars in the realm of tailgating. These trucks supply the necessary space for transporting all the gear and provide additional inspiration for arriving in style.

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Tags: Multiple Check

Brandes Elitch: the Vanguard of Premium Check Services

Posted by Joe Gargiulo on Fri, Jul 22, 2016 @ 07:00 PM

Among the many specialists on staff at CrossCheck is Director of Partner Acquisitions Brandes Elitch, a longstanding member of the business community who has been a cash management practitioner for several Fortune 500 companies, sold cash management services for major banks, and served as a consultant to bankcard acquirers. Elitch is a Certified Cash Manager and an Accredited ACH Professional with an MBA from New York University and a Juris Doctor from Santa Clara University.

He also collects vintage automobiles and has written dozens of articles for publications such as The Green Sheet, VeloceToday and naturally, this CrossCheck blog where he often discusses premium check services.

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Tags: Multiple Check

On-Demand Check Processing Webinars Can Increase Sales

Posted by Joe Gargiulo on Mon, Jul 18, 2016 @ 01:00 PM

For those living in the fast lane, garnering useful information on the freeways of the business world is the only way to travel. Our Check Processing Webinars page is especially useful in this instance because the collective body of work offers immeasurable knowledge in a short amount of time, all with the convenience of “one-stop shopping.”

First, join Senior Vice President Charles Dortch III for a presentation of “Check Verification vs. Check Guarantee” as he covers the fundamental differences between the two services and how each increases sales.

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Tags: Multiple Check

Buy EMV Chip Card Terminals and Get Certified? Are You Serious?

Posted by Brandes Elitch on Fri, Jun 17, 2016 @ 07:00 PM

We field a lot of calls these days from merchants asking about the new EMV chip cards. Merchants are not happy with the cards and some even suggest that EMV means “every merchant vexed.” WalMart has taken legal action against Visa over the EMV rollout and the beat goes on.

Walmart alleges that Visa’s refusal to mandate PIN codes with EMV, and continuing to allow the use of mag-stripe readers requiring a signature, causes irreparable harm to the world’s largest retailer.

The transition to EMV chip card terminals has taken merchants and consumers by surprise with both groups hoping the system will work out the kinks sooner than later.

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Tags: Multiple Check

Veterinarians Can Save Animals By Stressing Emergency Plan

Posted by Maria Shayna Tzouvelekis on Wed, Jun 08, 2016 @ 01:00 PM

Natural disasters may strike at any moment and often without warning. In the event that a twister touches down or the ground starts to shake, evacuating human and animal family members to safer locations is often a necessity. Access to resources such as energy, food or water, and transportation may be cutoff, so establishing an emergency plan in advance will eliminate the need to scrounge for essential materials at the last minute. The larger the number of people and animals, the larger the task.

Veterinarians encouraging animal owners to implement a disaster preparedness plan may save lives that might otherwise be stranded during a disaster or evacuation. 

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Tags: Veterinarians, Multiple Check, Maria Tzouvelekis

Home Furnishings Stores Can Increase Sales with Travel Themes

Posted by Maria Shayna Tzouvelekis on Thu, Jun 02, 2016 @ 10:00 AM

Furniture and home furnishings sales in the United States have slowly increased in recent years, but as always, it will take concentrated efforts to keep the momentum going. March sales domestically brought in $8.79B, up from 2015’s March revenue of $8.506B according to ycharts statistics.

Home furnishings stores must continue to offer styles that cater to the desires of their customers, especially as the country continues to recover from the housing market recession of 2007-2009 that devastated the home furnishings and real estate industries (see our earlier article, “Home Furnishings Industry Rebounding Says Economic Census”).

One approach involves capitalizing on the success of the tourism industry. As the economy rebuilds, travel and tourism — specifically domestic travel spending — have increased exponentially. According to a travel report from Statista, U.S. residents spent $802B traveling the states in 2015. Thus, identifying and utilizing the sentiments that draw people to popular domestic tourism destinations could increase sales to those wanting their interior designs to mimic their favorite vacation spots.

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Tags: Home Furnishings, Multiple Check, In Home Layaway, Maria Tzouvelekis

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