If you’ve ever stood in front of the mirror and wondered what your outfit’s missing, Macy’s may have the answer. The company recently launched its “Ask Macy’s” AI chatbot, powered by Google’s Gemini AI assistant, and it’s having shocking success.
The chatbot launched across all the company’s digital platforms on Monday, but it was tested with about half of Macy’s website visitors over several weeks, the company told Bloomberg. Shoppers who use the chatbot spend about 4.75 times more than those who don’t, Bloombergreported.
The bot’s short-term success comes as Macy’s tries to make its comeback after a decade of declining sales.
Earlier this month, the company reported net sales decreased by 2.4% last year, but returned to comparable sales growth, up 1.5%. Macy’s expects to make $21.4 billion to $21.65 billion in net sales this year, a little less than last year’s $21.76 billion, and sees comp sales flat at the midpoint of guidance.
Chief Customer and Digital Officer Max Magni explained that customers may be primed to spend more because they’re looking for a specific item, such as an outfit for an upcoming event, rather than when they’re just browsing, Bloombergreported. He suspects that the bot is also attracting a younger customer base.
The most popular features are the “complete the look” option, where the bot suggests accessories to go with an outfit, and a virtual try-on feature that allows shoppers to see what an item looks like on them. Customers can also use the virtual try-on feature in store, if they don’t have time to see if an item fits, Chief Stores Office Barbie Cameron told Bloomberg.
More AI shopping assistants are coming as companies and startups bet on making online shopping more seamless. For example, Bill Gates’s daughter Phoebe Gates founded Phia, a browser extension that compares prices across the internet.
And after more than four years in beta, Marc Lore and Melissa Bridgeford, publicly launched shopping agent Wizard in February.
“Every retailer is trying to figure it out one step at a time,” Magni told Bloomberg. “This is anybody’s game. Nobody has cracked the code.”
Getting the Macy’s bot ready for customers has taken some tweaking, and thousands of employees weighed in, according to Magni. Originally, it didn’t take into account that shoppers in different climates may not want to see the same selections.
There were also some tone issues, Magni added. When he asked for T-shirt suggestions for his son, the bot coldly offered a list and wrote: “Here’s a T-shirt for a 10-year-old.”
Now, the bot is more friendly. When asked again, the bot replied “‘Ten-year-olds can have so much fun with color – do you want a brighter or more muted color selection?’” Magni said. “The machine continues to learn.”
The Education Department is emailing more than 7 million SAVE borrowers starting today directing them to select a new repayment plan.
SAVE student loan forbearance will be ending by September 30, 2026.
Borrowers must select a new repayment plan or will be defaulted back into the Standard Repayment Plan.
The Department of Education is going to begin contacting the more than 7 million borrowers enrolled in the now-defunct SAVE student loan repayment plan, directing them to choose a new repayment plan. The first emails are reminders, followed by formal notices.
Starting July 1, loan servicers will issue formal 90-day notices requiring borrowers to switch or be automatically placed on the standard repayment plan. That means the effective end date of the SAVE forbearance will likely be September 30, 2026.
The Washington Post first reported that the Education Department would begin emailing SAVE borrowers on Friday to encourage them to apply for a different repayment plan. Those emails will be followed by formal notices from loan servicers giving borrowers 90 days to choose a new plan or be automatically moved into the standard repayment plan — the most expensive option available, according to three people familiar with the matter.
The Associated Press confirmed the timeline, reporting that the formal 90-day notices from loan servicers will begin on July 1. Borrowers will be contacted in waves, with a new group receiving notice every two weeks. Those enrolled in SAVE the longest will be the first to hear from their servicers.
This aligns with The College Investor’s previous SAVE Timeline Predictions of fall 2026.
Editor’s Note: This is a developing story. The Department of Education posted similar guidance here.
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SAVE Forbearance Ending
The 90-day window from July 1 is faster than some expected, but The College Investor’s timeline analysis estimated that the most likely scenario was a requirement to change plans in the second half of 2026.
While the One Big Beautiful Bill Act officially sunset SAVE, PAYE, and ICR by June 30, 2028, the final settlement agreement that officially killed SAVE mentioned “a limited time” to select a new repayment plan.
Now that limited time has been defined: 90 days from July 1, 2026 which likely means September 30, 2026. That would mean those who fail to select would resume Standard Repayment on October 1, 2026.
Borrowers will begin receiving notices as early as today that they need to select a new repayment plan. A follow-up notice will arrive on July 1 with the firm 90 day deadline.
What Happens If You Don’t Act
Borrowers who do not select a new plan will be automatically placed on the standard repayment plan. For the borrowers who had $0 monthly payments under SAVE (upwards of half of all enrollees) this could mean going from paying nothing to hundreds of dollars per month.
Once you’re enrolled in the standard repayment plan, if you fail to make payments, you’ll start down the path of delinquency and potentially default on your loans. Nearly 8 million borrowers are already in default as the Department of Treasury takes over student loan collection duties.
Interest has been accruing on SAVE loans since August 1, 2025, even while payments have been paused. That means borrowers’ balances have been growing for the past eight months with no progress toward forgiveness.
Available Repayment Plan Options
Borrowers currently have the following income-driven repayment options to choose from: Income-Based Repayment (IBR), Pay As You Earn (PAYE), and Income-Contingent Repayment (ICR). However, both PAYE and ICR are scheduled to be eliminated by June 2028 under the One Big Beautiful Bill Act.
Starting July 1, 2026, borrowers will also have access to the new Repayment Assistance Plan (RAP). RAP charges between 1% and 10% of adjusted gross income depending on loan balance, with a $50 monthly deduction per dependent. Unlike SAVE, RAP requires a minimum payment of $10 per month for all borrowers: there is no $0 payment option. Forgiveness under RAP comes after 30 years, compared to the 20-25 year timeline under most prior income-driven plans.
Which plan should you choose?
For most borrowers, if you want to move today, IBR and PAYE are your best choices. PAYE has a slight advantage over IBR (if you’re PAYE-eligible) in that a future switch to RAP won’t capitalize interest. Leaving the IBR plan does capitalize interest. So, if your end goal might involve switching to RAP, then you should choose PAYE in the meantime.
Otherwise IBR is a great choice today, followed by RAP starting in July. Both IBR and RAP are eligible for Public Service Loan Forgiveness (PSLF).
How Borrowers Should Prepare
The Education Department’s Friday email is a heads-up, not the formal notice. The 90-day countdown begins when your loan servicer sends its official notice starting July 1. However, the clock is ticking and you need to start preparing.
Here is what borrowers should do now:
Log into StudentAid.gov and your loan servicer’s website. Make sure your contact information is current. Notices will arrive by email, and borrowers who miss them could be defaulted into the standard plan without realizing it.
Use the federal Loan Simulator. Available at StudentAid.gov, the simulator lets you compare estimated monthly payments across all available plans based on your income and loan balance.
Apply for IBR or PAYE if you need income-driven payments. For borrowers who cannot afford the standard plan, filing an Income-Driven Repayment Plan Request now (rather than waiting for the formal notice ) gets you into the servicer processing queue ahead of what will likely be a crush of applications. Servicers already have a significant processing backlog, with some borrowers waiting months for their applications to go through.
Watch fo scams. Free federal tools and loan servicer support can handle everything you need. Student loan scams are actively targeting confused borrowers.
If you’re pursuing PSLF, act immediately. There’s no benefit to waiting if you’re pursuing PSLF. Switch to a qualifying repayment plan as soon as possible to start the payment clock again.
Editor’s Note: This story originally appeared on The Penny Hoarder.
Sometimes, you just need a job.
Maybe you need extra cash. Maybe you’re making a career transition and need some time to sort things out but still have cash flow. Or maybe you’re reentering the workforce after some time away to be a caretaker.
Whatever the case may be, you need a way to make money that doesn’t require lots of experience or an expensive education. And if you’re coming back from a break, you might enjoy easing into the workforce with a work-from-home job.
Fortunately, there are quite a few entry-level jobs out there that you can do from home. These may not be dream jobs or long-term career options for you, but they will offer some financial stability.
If you’re looking for a job where you can work from home with little or no experience, we’ve done some of the legwork for you.
1. Virtual Assistant
fizkes / Shutterstock.com
These types of jobs have become much more common over the last decade. A virtual assistant is basically an administrative or executive assistant who works remotely.
Your job will involve scheduling meetings and travel arrangements, answering calls, taking meeting notes and other administrative tasks.
Communication and organizational skills will be incredibly important as a virtual assistant. Some companies, like BELAY, hire VAs exclusively for their clients. You can also find plenty of VA opportunities through sites like Time etc and Upwork.
Average pay: $24.80 per hour, according to Indeed.
2. Customer Service Representative
fizkes / Shutterstock.com
Why should a company pay for real estate to bring everyone into the same place where they take calls all day — when they can do that just as easily from home?
More companies are outsourcing their call center representative positions, or at least sending everyone remote, making a rewarding customer service position quite viable for someone who wants to work from home.
You’ll take calls and complaints via phone, email, and chat — so communication and typing skills are helpful. Here at The Penny Hoarder we routinely post customer service positions in our Work From Home portal.
Median pay: $17.75 per hour, according to BLS.
3. Sales Representative
goodluz / Shutterstock.com
If you have the persuasive skills and confidence to be a salesperson, then you’ll find plenty of remote opportunities. As a WFH sales rep, you’ll typically take or make calls trying to sell a product or service.
It’s similar to a customer service position, but you’ll need to actively convince a customer to buy. Although insurance and real estate sales roles typically require special licensing, retail sales are usually entry-level positions.
This type of online job is perfect in a remote environment because all you really need is a phone. You can text, call, email, or zoom from anywhere. Simply Hired and Indeed are great options to consider when looking for a virtual sales job.
Average pay: $47,306 base pay per year, according to Glassdoor.
4. Transcriptionist
nimito / Shutterstock.com
If you’re efficient as a typist, consider a transcriptionist position. These workers essentially turn audio into text — transcribing things like TV shows, speeches, interviews and podcasts.
The jobs can easily be done from home, and many companies like Rev, Upwork, and Scribie hire transcriptionists all the time.
Average pay: $20 per hour, according to Indeed.
5. Tutor
Dragana Gordic / Shutterstock.com
As a tutor you’ll often need expertise in a certain area, and you’ll need at least a high school degree. But it’s also a job you can jump into fairly quickly as you help students of all ages build their education.
Tutors develop lesson plans and help students complete homework assignments and prepare for tests. Care.com is a great place to start looking for tutoring jobs in your area.
Median pay: $20.09 per hour, according to BLS.
6. Data Entry Clerk
TierneyMJ / Shutterstock.com
Here’s another position perfect for someone with good typing skills. Data entry clerks input information into databases, documents, spreadsheets and other files, while also checking for accuracy. They may also transcribe audio and video files into text.
As a data entry clerk, you’ll need to have excellent attention to detail, stay organized and be efficient. Check out The Penny Hoarder’s Work From Home portal to see some of the most recently posted data entry jobs. Other good sites to check for data entry jobs are ZipRecruiter and FlexJobs.
Median pay: $17.13 per hour, according to BLS.
7. Mock Juror
Alex from the Rock / Shutterstock.com
Yes, being a mock juror is actually a job. Mock jurors meet live or online and help provide feedback to attorneys who are developing their cases.
Websites like eJury and Online Verdict allow you to sign up and fill out details about yourself. The companies will contact you when you’re the right fit for a certain mock trial. Many companies select anywhere from 25 to 50 jurors per trial.
Average pay: $5 to $10 per case, according to eJury.
8. Pet Sitter
eva_blanco / Shutterstock.com
If you love our furry little friends, why not take a go at being a pet sitter? Depending on the pet, you’ll get to do everything from taking them on walks, going to the dog park and relaxing on the couch while they sleep.
The pay isn’t amazing, but it’s a relatively easy job and a great way to make extra cash. Check out Rover and Wag! for many pet-sitting opportunities.
Average pay: Typically around $10 to $20 per walk, with more income coming from overnight stays, house sitting, and so on, according to Rover search results.
9. Phone Mystery Shopper
Drazen Zigic / Shutterstock.com
Large companies with customer service departments hire mystery shoppers to evaluate their own services.
They’ll give you an assignment to place a call, perhaps with a background story or problem, with some kind of goal in mind. When the call is finished, you’ll file a report about your experiences and customer satisfaction, which ultimately is the feedback they are looking for.
This is a very flexible job that allows you to take on assignments as you have the time. Sinclair Customer Metrics and Market Force are great tools to find mystery shopping positions.
Average pay: $21 per hour, according to ZipRecruiter.
10. Brand Ambassador
Roman Samborskyi / Shutterstock.com
If you’re online savvy and active on social media, you could become a brand ambassador for your favorite brand.
With this job, you’ll chat online with visitors to the company’s website, offer advice and recommendations, promote customer satisfaction, write product reviews and answer questions about products.
Sites frequently update brands with available ambassador positions. You can also check on your favorite brand’s website directly for opportunities to become an ambassador. Some brands may offer merchandise as a form of payment, or a combination of merchandise and cash.
Average pay: $20.14 per hour, according to Indeed.
11. Search Engine Evaluator
fizkes / Shutterstock.com
Search engine evaluators examine internet search results to determine the accuracy of web search results, how useful the results pages are, and the relevance of the search results to the topic requested. They then provide that feedback to the search engine company.
To get the job, you’ll likely be asked to take an online test to determine how familiar you are with search engines.
Average pay: $47,829 annually, according to Glassdoor.
Prospective home buyers are finding more leverage through a 20% year-over-year increase in housing inventory, combined with cooling sticker prices for homes. A few of these buyers may be able to locate an assumable mortgage with a low rate from early 2021. While the housing “thaw” provides some relief, inflation is still affecting consumer spending, although showing signs of cooling slightly.
Iran’s nuclear facilities came under attack Friday, state media reported, just hours after Israel threatened to “escalate and expand” its campaign against Tehran. Israel claimed responsibility for the attacks and Iran quickly threatened to retaliate.
Iran’s Atomic Energy Organization said the Shahid Khondab Heavy Water Complex in Arak and the Ardakan yellowcake production plant in Yazd Province were targeted, IRNA reported. The strikes did not cause any casualties and there was no risk of contamination, it said. The Arak plant has not been operational since Israel attacked it last June.
Yellowcake is a concentrated form of uranium after impurities are removed from the raw ore. Heavy water is used as a moderator in nuclear reactors.
The Israeli military later hailed its attacks on several Iranian targets including “missile production capabilities, infrastructure remaining from its nuclear program, and terror regime targets.” It said raw materials are processed for enrichment at the Yazd plant and that the strike was a major blow to Iran’s nuclear program.
The Islamic Revolutionary Guard Corps warned Iran would retaliate for the attacks, IRNA reported. Seyed Majid Moosavi, IRGC’s Aerospace Force commander, posted on X that employees of companies tied to the U.S. and Israel should abandon their workplaces.
“You tested us once before; the world has once again seen that you yourselves started playing with fire and attacking infrastructure,” he said. “This time, the equation will no longer be ‘an eye for an eye,’ just wait.”
US pushes diplomatic solution
Word of the attacks came after U.S. President Donald Trump claimed talks on ending the war were going “very well” and that he had given Tehran more time to open the Strait of Hormuz. Iran maintains it has not engaged in any negotiations.
With stock markets reeling and economic fallout from the war extending far beyond the Middle East, Trump is under growing pressure to end Iran’s chokehold on the strait, a strategic waterway through which a fifth of the world’s oil is usually shipped.
A Gulf Arab bloc said Thursday that Iran has been exacting tolls from ships to ensure safe passage.
Trump envoy Steve Witkoff said Washington delivered a 15-point “action list” to Iran for a possible ceasefire, using Pakistan as an intermediary. It proposes restricting Iran’s nuclear program and reopening the Strait of Hormuz.
Iran rejected the U.S. offer and presented its own five-point proposal that included reparations and recognition of its sovereignty over the vital strait.
Trump has said if Iran doesn’t reopen the strait to all traffic by April 6, he will order the destruction of Iran’s energy plants.
U.S. stocks fell further on Friday, lengthening Wall Street’s longest losing streak in nearly four years, and oil prices rose again. The price for a barrel of Brent crude rose 2.9% to $104.81, up from roughly $70 before the war began Feb. 28. Benchmark U.S. crude rose 4.4% to $98.61 per barrel.
Israel targets Iran’s weapons production
Air raid sirens sounded in Israel and the military said it has been intercepting Iranian missiles on a daily basis. Defense Minister Israel Katz said Iran “will pay heavy, increasing prices for this war crime.”
“Despite the warnings, the firing continues,” Katz said. “And therefore attacks in Iran will escalate and expand to additional targets and areas that assist the regime in building and operating weapons against Israeli citizens.”
Israel’s military said its attacks Friday targeted sites “in the heart of Tehran” where ballistic missiles and other weapons are produced. It said it also hit missile launchers and storage sites in Western Iran.
Smoke rose over Beirut after a pre-dawn strike, and Lebanon’s Health Ministry later reported two people were killed.
Saudi Arabia’s Defense Ministry meanwhile said it shot down missiles and drones targeting the capital, Riyadh.
Kuwait said its Shuwaikh Port in Kuwait City and the Mubarak Al Kabeer Port to the north, which is under construction as part of China’s “Belt and Road” initiative, sustained “material damage” in attacks. It appeared to be one of the first times a Chinese-affiliated project in the Gulf Arab states has come under assault in the war. China has continued to purchase Iranian crude.
Diplomatic wrangling endures even as US sends more troops
Diplomats from several countries including Pakistan and Turkey have tried to organize a direct meeting between U.S. and Iranian envoys. Separately, G7 foreign ministers meeting in France adopted a declaration calling for an immediate halt to attacks against populations and infrastructure.
Meanwhile, U.S. ships drew closer to the region carrying some 2,500 Marines, and at least 1,000 paratroopers from the 82nd Airborne — trained to land in hostile territory to secure key positions and airfields — have been ordered to the Middle East.
Nevertheless, Secretary of State Marco Rubio said during the G7 meeting that most U.S. objectives in Iran are “ahead of schedule,” and that “We can achieve them without any ground troops.”
Israel deployed the 162nd Division into southern Lebanon to support efforts to protect its northern border towns from Hezbollah attacks and uproot the militant group, the military said.
The U.N.’s International Organization for Migration said Friday that 82,000 civilian buildings in Iran, including hospitals and the homes of 180,000 people, are damaged.
“If this war continues, we risk a far wider humanitarian disaster,” Jan Egeland, secretary general of the Norwegian Refugee Council, said in a statement. “Millions could be forced to flee across borders, placing immense pressure on an already overstretched region.”
Death toll climbs, primarily in Iran and Lebanon
Eighteen people have died in Israel, while four Israeli soldiers have been killed in Lebanon. Two Israeli soldiers were severely injured in Lebanon on Friday during an “operational accident,” the military said.
Authorities said more than 1,100 people have died in Lebanon and over 1,900 people have been killed in Iran.
At least 13 American troops have been killed and four people in the occupied West Bank and 20 in Gulf Arab states have also died.
In Iraq, where Iranian-supported militia groups have entered the conflict, 80 members of the security forces have died.
Rising reported from Bangkok. Associated Press writers Giovanna Dell’Orto in Miami; Fay Abuelgasim in Cairo; Sam Mednick in Tel Aviv, Israel; Sam McNeil in Brussels; and Edith M. Lederer at the United Nations contributed.
New Eligibility Date: who closed a personal checking account with Truist on or after 3/26/25 are eligible now
Offer at a glance
Maximum bonus amount: $400
Availability: AL, AR, GA, FL, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC
Direct deposit required: Yes, one Direct Deposit of $2,000 or more within 90 days of account opening
Additional requirements: Use promo code
Hard/soft pull: Soft pull
ChexSystems: Yes
Credit card funding:Up to $500 $250
Monthly fees: $12, avoidable
Early account termination fee: None
Household limit: None
Expiration date: July 14, 2022
The Offer
Direct link to offer
Truist is offering a bonus of $400 when you open a new checking account and complete the following requirements:
Use promo code DC2425TR1400
Receive at least 2 qualifying Direct Deposits* totaling $2,000 or more within 120 days of account opening
Complete at least 20 qualifying debit card purchases** within 90 days of account opening. All debit purchases must be posted to your account to qualify.
The Fine Print
Valid for new personal Truist Dimension, Truist Bright or Truist Fundamental checking accounts opened from 4/1/22 through 7/14/22. Enrollment in the promotion is required at account opening using promo code TR2CHK22 to be eligible for any promotion reward. Please refer to the Account Opening and Enrollment section below for instructions.
How to Earn $300:
Open a new eligible* Truist personal checking account from April 1, 2022 through July 14, 2022
Receive at least 2 qualifying Direct Deposits** totaling $500 or more within 90 days of account opening.
Clients with an existing personal checking account with Truist or who have closed an account with Truist on or after 1/20/22 are not eligible to participate. Account holder must be 18 or older at the time of account opening. Truist employees are not eligible. Offer available only to US residents with a valid US taxpayer identification number. The qualifying checking account must be opened in a Truist branch in one of the following states, or online, and have a mailing address in: AL, AR, GA, FL, IN, KY, MD, MS, NC, NJ, OH, PA, SC, TN, TX, VA, WV or DC.
All bank account bonuses are treated as income/interest and as such you have to pay taxes on them
Avoiding Fees
Monthly Fees
Truist Bright Checking has a $12 monthly fee this is waived with either of the following requirements:
Monthly direct deposits over $500 or
$1,500 $500 average ledger balance
Early Account Termination Fee
I didn’t see any mention of the EATF in the fee schedule.
Our Verdict
Truist is the new name for the merged BB&T and SunTrust bank. Keep in mind you won’t be eligible for this bonus if you’ve held a BB&T/SunTrust or Truist account since 2/1/21. They launched with a $500 bonus, but we haven’t seen that bonus return and normally it’s only $200 so I’d recommend doing this offer and will add to the best bank account bonuses.
Useful posts regarding bank bonuses:
A Beginners Guide To Bank Account Bonuses
Bank Account Quick Reference Table (Spreadsheet) (very useful for sorting bonuses by different parameters)
PSA: Don’t Call The Bank
Introduction To ChexSystems
Banks & Credit Unions That Are ChexSystems Inquiry Sensitive
What Banks & Credit Unions Do/Don’t Pull ChexSystems?
How To Use Our Direct Deposit Page For Bank Bonuses Page
Common Bank Bonus Misconceptions + Why You Should Give Them A Go
How Many Bank Accounts Can I Safely Open Within A Year For Bank Bonus Purposes?
Affiliate Links & Bank Bonuses – We Won’t Be Using Them
Complete List Of Ways To Close Bank Accounts At Each Bank
Banks That Allow/Don’t Allow Out Of State Checking Applications
Bank Bonus Posting Times
Post history:
Update 11/13/23: Extended until February 27, 2024.
Update 8/13/23: Deal is back and valid until October 31, 2023. Bonus has been reduced to $300, so worth waiting for $400 to return.
Update 5/27/23: Extended until July 25, 2023.
Update 5/16/23: Extended until June 1, 2023.
Update 4/17/23: Deal is back and valid until 5/15/23. Hat tip to Tornado
Update 1/22/23: Make sure adblocker is disabled to get promo code to work properly.
Update 1/22/23: Deal is back, has been increased to $400 from $200 and valid until Apr. 14, 2023. Terms do state ‘Offer Eligibility: Offer is only available to individuals who received a direct communication from Truist.’ so unsure if this targeted or not. Does show up in a google search for vague terms such as ‘checking bonus’.
Update 11/12/22: Deal is back but reduced to $200. Hat tip to reader John.
To get free fractional shares worth up to £100, use the promo code TILBURY or visit Terms apply. *This is an affiliate link.
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As promised, here are my top savings account picks:
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1. Trading 212 Cash ISA: Offers 5.07% AER, combining high returns with tax-free benefits.
2. Sidekick: Provides 4.76% AER on standard savings accounts.
3. Revolut Ultra Plan: Features up to 5% AER, depending on your subscription tier.
🇺🇸 USA:
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2. Openbank: Provides 4.40% APY with a $500 minimum deposit.
3. Bread Savings: Features 4.35% APY with a $100 minimum deposit.
________________________________________________
Disclaimers:
This video does not represent financial advice, and I am not a financial advisor. When investing, your capital is at risk. Investments can rise and fall and you may get back less than you invested. Past performance doesn’t guarantee future results. Images used throughout the video are for illustrative and educational purposes only, not indicative of past or future performance.
Pies & AutoInvest is an execution-only service. Not investment advice or portfolio management. Automatic investing refers to executing scheduled deposits. You are responsible for all investment and rebalancing decisions.
212 Cards are issued by Paynetics which provide all payment services. T212 provides customer support and user interface.
*Trading 212’s terms and fees apply –
Some of the links in this description are affiliate links that I get a commission from.
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Private credit faces a fundamental verification and information problem. Recent market developments have brought these issues into sharper focus. As liquidity tightens, and redemption pressures increase, private markets are undergoing what appears to be a structural test rather than a cyclical slowdown. Years of capital accumulation in semi-liquid structures are now colliding with more constrained liquidity conditions, exposing tensions between asset valuation and the ability to realize those valuations.
The misalignment between fund managers and investors is evident in the persistent discounts seen in business development companies (BDCs) relative to reported net asset values (NAVs). These discounts reflect credit risk, liquidity, and market conditions, but they also signal that investors are applying a discount when they cannot fully interpret or validate model-based valuations against market pricing. These discounts reflect credit risk, liquidity, and market conditions, but also highlight the gap between model-based valuations and market pricing—particularly when investors attempt to infer value from non-traded assets.
Private credit lacks comparable public market mechanisms—continuous price discovery, mandatory disclosures, and standardized auditing—that provide transparency and external validation. As a result, investors have limited ability to independently verify how valuations are constructed.
Verification does not make valuation assumptions correct, but it does make them transparent, reproducible, and open to scrutiny. In a market where key inputs remain judgment-based, improving verifiability does not eliminate uncertainty, but it can reduce ambiguity around how valuations are constructed.
This post examines how a combination of approaches, including statistical data screening, cryptographic proof, and stress testing, can improve different aspects of the verification process and strengthen confidence in private credit valuation.
Editor’s Note: This story originally appeared on MyPerfectResume.com.
For decades, corporate life has catered to the early risers. Morning meetings, nine-to-five office schedules, and leaders boasting about being the first in the office all send the same signal: The workplace belongs to morning people.
But a new study of more than 1.5 million workers in the U.S. and Canada, conducted by Herrmann International in partnership with MyPerfectResume, shows that not everyone operates at peak energy in the morning.
In fact, younger and creative workers are far more likely to identify as “night people.” The problem? Leadership is dominated by morning types, raising big questions about whether chronotype, our natural rhythm for energy and focus, quietly shapes who gets promoted.
Climbing the Ladder Turns Night Owls Into Early Birds
The research shows a sharp divide between entry-level employees and executives:
Entry-level workers are 29% more likely than the average worker to identify as night people, the only management tier that overindexes on night preference.
Executives are 32% less likely to be night-oriented.
Entry-level employees are nearly 2x more likely to be night-oriented than executives (1.9x difference).
Directors are also more likely to be morning people, at 27% less likely to be night people.
Research suggests multiple factors may be at play. Studies show that genetics (particularly the PER3 gene) strongly correlate with chronotype and that individuals tend to shift toward a morning orientation as they age.
Social factors, such as family obligations and work schedules, may also lead to behavioral adaptation to earlier schedules.
But here’s the question: Do morning people get promoted more simply because they are more visible to leadership in traditional nine-to-five structures?
Why it matters: If chronotype and career success are tied, companies risk sidelining talented night-oriented workers who thrive later in the day. This could result in the loss of innovation, creativity, and leadership diversity.
Creatives and Service Workers Fuel the Workforce’s Night Energy
Creative and high-demand service roles disproportionately attract or cultivate night-oriented workers. The best jobs for night owls are concentrated in creative and service industries:
Art: 52% more night people, the strongest skew of any field
Education: 51% more night people, despite early school hours
Writing: 33% more night people
Entertainment: 25% more night people
Consulting: 30% more night people, tied to a long-hour, deadline-driven culture
Services: 22% more night people, consistent with 24/7 operations
Creative work often thrives on uninterrupted focus, and night hours can provide freedom from meetings and distractions. In service industries, shift work and round-the-clock operations naturally cultivate more night energy.
Education’s high night orientation is especially surprising given early school hours, but perhaps reflects that teachers, drained by structured daytime work, reclaim energy at night when they finally control their schedules.
Why it matters: Industries that rely on creativity, flexibility, or round-the-clock service could unintentionally penalize their own talent by adhering to rigid, morning-heavy schedules. Employers risk worker burnout if energy patterns aren’t recognized and chronotype discrimination at work is prevalent.
Culture, Not Latitude, Decides Who Wakes Up Early
The data reveals night-owl vs. early-bird productivity patterns that don’t follow simple geographic or cultural predictions:
Italy: 52% more day people, 41% fewer night people; the world’s strongest morning preference
Denmark: 48% more day people, 44% fewer night people
Sweden: 43% more day people, 49% fewer night people
Singapore: 45% more night people, making it the most night-oriented country in the study, nearly 3x the rate of Sweden
Philippines: 39% more night people, 22% fewer day people
Spain: Above-average share of day people, despite famously late mealtimes and social norms
These findings highlight an interesting nuance in the assessment’s wording, where respondents were asked to describe their “energy level or drive.” Those interpreting “drive” as work-related energy may report daytime preference if evenings are culturally reserved for social and family time rather than productive work.
The strong daytime orientation of Northern European countries such as Sweden and Denmark aligns more with expectations.
Singapore stands out with 45% more night people, nearly three times Sweden’s rate. As an international business hub with a 24/7 urban culture, Singapore’s night orientation may reflect both the necessity and the cultural acceptance of late working hours. The Philippines, Brazil, Mexico, and France also show above-average night preference.
Why it matters: Global teams cannot assume one universal rhythm. Companies that expand globally or work across time zones must consider cultural differences in energy and productivity, a key issue for remote and hybrid work.
Day People Still Dominate, But Night Owls Concentrate in Critical Talent Pools
Morning orientation remains the majority, but the minority of night-oriented workers is concentrated in groups critical to future talent pipelines.
Across all groups, day people outnumber night people, typically by 40% to 45%. Night people never exceed around 20% of any population.
Digital culture and remote work have made latent night preferences more visible. The real question is whether more people are actually becoming night owls or if we’re simply seeing them more clearly now that work has become less rigid.
Why it matters: Recognizing and supporting night-oriented workers can help employers unlock new pools of talent, particularly among younger generations and creative industries.
Bigger Picture: What It Means for Employers
Chronotype diversity is relatively tied to age, culture, and occupation.
Chronotype differences: Rigid nine-to-five systems favor morning people but create friction for younger, creative, and globally distributed workers.
Structure versus preference: The concentration of night orientation in creative fields and day orientation in senior roles raises questions about whether workplace structures select for certain chronotypes or shape them.
Cultural boundaries between work and personal energy: Mediterranean morning preference, despite a late social schedule, may reflect protected evening time; they have the energy, but it’s not for work.
Small changes, big impact: Later meetings, flexible deadlines, or split shifts can accommodate diversity without disrupting operations.
Why it matters: Accommodating energy diversity is about more than fairness; it’s about resilience. Employers who adapt will retain creative and global talent, reduce turnover, and create pathways for workers who might otherwise be overlooked.
Methodology
The analysis draws on a dataset of over 2.5 million assessments processed through Herrmann’s cognitive intelligence platform. All percentages represent deviation from the population baseline. Statistical significance determined using chi-square tests (p<0.05).
Respondents selected their energy type (“day person,” “night person,” or “day/night person”) along with demographic and occupational information, including management level and field of work. All detailed breakdowns by management level and occupation are based on population data from the U.S. and Canada (n=1,553,136).
For global comparisons, additional countries were included only if they had at least 1,000 respondents to ensure a meaningful sample size. This enabled researchers to examine cultural and regional differences, with findings from 29 countries across six continents reported in the study.
