As wedding season begins to quickly roll around once again, many couples are seeking to make their special day unique. Whether you're going for an out of this world theme or getting your wedding dance choreographed there is no doubt that unique is the end goal here. However, many are seeking to go above and beyond the day of the wedding, and looking for that something special to last throughout their marriage. The following list entails some of the most unique ideas when it comes to choosing your wedding ring.
Forego a Traditional Ring—Use Tattoos Instead
A wedding ring has been the staple of marriage for at least a couple of hundred years now. They represent a tight bond between two people and a visual of it as well. However, couples today don't seem to be satisfied with simply an object as a representation of their commitment. Therefore, a new trend has emerged amongst younger, soon to be married couples. This trend includes the addition of a tattoo on each of their bodies. Usually, it's the date of the wedding or their names, which are marked somewhere on their skin, but some have even gone so far as to tattoo an entire portrait of themselves! Needless to say, this is one way to truly show your commitment.
Rings That Support a Cause
Often the things that bring people together are their shared values. We constantly hear stories about people meeting within a school social club or while volunteering at a local shelter. Nevertheless, these shared values are a big part of one's life. Why not continue this into the marriage with the inclusion of a wedding ring that supports that cause? There are differences between lab created diamonds and mined diamonds but none as obvious as the eco-friendly nature of one over the other.
Forget About the Centerpiece Look
One of the most common designs of a wedding ring is that big centerpiece diamond. While this may look very impressive, it does not make it unique. New designs are popping out today that incorporate the value of a centerpiece but with a different approach. We highly recommend looking at wedding rings that showcase multiple diamonds spread across the band. These beautiful designs not only keep the value of the ring but they give it that extra bit of uniqueness. Choosing a wedding ring design that will be yours to keep and look at for years may be a little daunting. Therefore, we recommend understanding your expectations and what is realistically possible to obtain. We hope that the list above has provided you with some ideas to make your wedding ring that much more unique.
Looking for more unique styling tips? We recommend reading another article from The Beauty IDEA.
When you apply for a loan, your future lender wants to make sure that you aren’t too much of a risk on defaulting. In the past, lenders have used the Allowance for Loan and Lease Losses (ALLL) standard to evaluate the risk of your loan. However, the Financial Accounting Standards Board (FASB) has decided to switch to a new system, known as Current Expected Credit Losses (CECL). This means that, starting in 2020, loans will be evaluated differently. Here’s what you need to know about these changes.
Why The Change?
The financial crisis of 2007 was devastating for a number of reasons, but one of the biggest ones is that it demonstrated that the ALLL was not adequate for making timely adjustments. ALLL worked well for evaluating losses that would happen with some certainty, but it was not able to respond to changes that happened suddenly. The financial crisis demonstrated that the current evaluation was not able to adjust for fluctuations in the economy. As a result, The FASB decided to reevaluate how risk was calculated for loans. In 2016, they announced the new accounting standard, known as CECL, that would be implemented by 2020.
CECL is Based on GroupsUnder CECL, review for loans is mostly based on collective groups. CECL looks at your situation and puts on you in a category. Each institution will have to develop their own way of dividing these groups up, but they will be based on things such as credit score, type of loan, length of the loan, the interest rate, what year you are applying, and what your individual finances look like. Once you are placed in a category, your lender is able to determine how much risk this loan will carry. However, under CECL you can still be individually reviewed, but only when you fit a couple different requirements. Your lending institution will decide whether your loan will be individually reviewed based on your circumstances and other factors with your loan.
Understanding the Effects
In the banking industry, there has been some criticism about CECL accounts. Some lenders have a tough time adjusting to the policies since they have to implement procedures in order to pinpoint losses that could possibly happen down the road. This requires a lot more data and analysis than they have previously used. However, CECL will help lenders stay competitive and prevent a lot of the losses that many of these institutions saw during the 2007 financial crisis. To use CECL methods, bankers must always monitor the conditions in the economy, and this process heightens focus, awareness, and drive.
Most of the major changes will occur behind the scenes, and you may not see much impact on your loans as a consumer. When applying for a loan, you will still need to pay attention to your earning potential, personal debt, and credit score. While it may seem intimidating and confusing, don’t let these changes scare you when it comes to getting a new loan. Your lender will be able to guide you in the right direction.
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