Apr 09, 2021
Financial Literacy, Economics, Investing, Cryptocurrencies, Mortgages
CNBC posted three different articles in about 24 hours about the importance and impact of a personal finance education, and all three include quotes from Tim Ranzetta and NGPF research.
Early financial education
State of personal finance education
Financial literacy can reduce the racial wealth gap
NFTs seem to have been a flash in the pan. (The Atlantic)
Jamie Dimon’s annual letter to shareholders got some press this week. JPMorgan Chase’s...
Apr 02, 2021
Investing, Economics, Cryptocurrencies, Current Events
This week’s (year’s) big investment story was the dramatic fall of Archegos Capital. After a brief recap of the GameStop story to tee it up, this article takes a pretty deep dive into how this was allowed to happen. (Slate)
Last week’s hot topic, NFTs, warranted a skit on SNL this week, but is now projected to become a bubble. (Medium)
While new unemployment claims ticked up a bit last week to 719,000 (Yahoo Finance), the March jobs report...
Mar 05, 2021
Financial Literacy, Economics, Investing, Cryptocurrencies, Retirement, Budgeting
ICYMI--Here is a link to Tim Ranzetta’s piece for The Street.
This week marked Fed Independence Day (Happy 70th!). Here is a Planet Money episode explaining what that is all about.
Speaking of the Fed, Jerome Powell’s comments yesterday about the potential for some inflation as the economy restarts sent markets moving. (CNBC)
For more on Powell’s message stressing patience, read the NYT explanation.
Initial jobless claims...
Feb 26, 2021
Financial Literacy, Economics, Investing, Cryptocurrencies
More players have jumped into the financial literacy effort.
Nike’s partnership aims at kids (Yahoo Finance).
The Skimm’s new SkimmU is aimed at its largely female following (7 million subscribe to its daily news feed).
Here is a great summary of where Janet Yellen stands on current top economic issues. (NYT)
Last week’s first-time jobless claims dropped over 100,000 from the previous week. The number is still huge. (Yahoo Finance)...
Feb 12, 2021
Cryptocurrencies, Investing, Economics, Budgeting, Taxes, Paying for College
Happy Valentine's Day!
Bitcoin may be winning the headline contest over GameStop this week. Let’s start with “What can you buy with bitcoin?” (NYT)
The nation’s oldest bank, BNY Mellon, and Mastercard announce they are getting on the cyrptocurrency bandwagon. (Markets Insider)
Tesla may have triggered the latest run-up in bitcoin pricing after their announcement of a $1.5 billion investment, and that they would accept bitcoin as payment for their cars. (CNBC)...
Feb 05, 2021
Investing, Cryptocurrencies, Economics
Investing-GameStop Round 2
Treasury Secretary Yellen and other regulators met to discuss what happened with GameStop and other stocks (NYT), and Cleveland Fed President does not expect any resultant changes to policy. (CNBC)
Or the leaders could just listen to Andrew Ross Sorkin, who proposed six ways to “fix” the market in his DealBook article this week.
Gary Gensler has been nominated to head up the SEC, and this will be his issue to deal with. For some perspective on how he might...
Jan 15, 2021
Cryptocurrencies, Economics, Investing, Behavioral Finance, Career
What goes up, must come down. Just last week we posted about bitcoin reaching a record high. This week it turned south. (CoinDesk) And many people are scrambling to find the password to their digital wallet to cash out! (NYT)
Not a lot of good economic news this week:
New unemployment claims jumped back up to the million mark last week. (Yahoo Finance) (NYT)
Lael Brainard estimates the unemployment rate for the lowest paid workers is likely north of 20%...
Jan 08, 2021
Economics, Cryptocurrencies, Investing, Insurance, Student Loans
Biggest economic news this week hit today: The December jobs report shows a 140,000 decline, the first decline since April, and the news for long-term unemployed and labor force participation aren’t great. (NYTimes)
This followed yesterday’s news on initial jobless claims, still stubbornly high. (Yahoo Finance)
The US Trade deficit hit a 14-year high in November. (Reuters)
January 1 brought increases in the minimum wage across the country. (NYTimes)
Dec 18, 2020
Current Events, Investing, Economics, Cryptocurrencies
The New York Times will be free to high school students and teachers through September 2021, sign up here!. During this time, expect to see a few more articles from the NYT than you have been seeing in the reading list.
One vaccine (Pfizer) is being administered as I type, as a second one (Moderna) is about to receive emergency authorization. Great news! But watch out for vaccine scams! (WAPO)
Not only are female workers taking a disproportionate hit to income during the...
Dec 04, 2020
Investing, Economics, Cryptocurrencies, Student Loans
Michael Batnick provides a well thought out answer to the question “is Robinhood (any zero commission/fraction share platform) good for investors?” (The Irrelevant Investor)
Why economists support more stimulus, and what will happen come January 1 if there is no further stimulus. (NYTimes – subscription)
The number of Americans using credit cards to pay rent has risen 70% over last year. NPR
Mortgage rates hit yet another record low: the 30-year rate...
Nov 27, 2020
Economics, Investing, Behavioral Finance, Student Loans, Cryptocurrencies, Taxes
Hope you all had an enjoyable and safe Thanksgiving yesterday!
Here is one out of the UK to read BEFORE you do any Black Friday shopping, using behavioral economics to explain marketing tactics. (MouthyMoney)
While we are on Black Friday—what will it look like? (Probably like Cyber Monday.) (USA Today)
And Nathan Burrow of the NYT shares advice on how to avoid overspending on Black Friday. (NYT-subscription)
Surprise!? Consumer Confidence fell unexpectedly in...
Oct 23, 2020
Financial Literacy, Economics, Credit Scores, Cryptocurrencies
PRNewswire reports on an extensive three-part survey by Lending Tree and Stash to look at the financial health of people during the Covid-19 crisis. Here are the key findings:
Due to the economic impact of the COVID-19 crisis, 1 in 4 people expect to retire later than anticipated. That's especially true for those who make less than $35,000 (34%) and Gen Xers (29%), as well as Latino (30%) and Black consumers (28%).
People of color are facing heavy financial...
Nov 08, 2019
Financial Literacy, Entrepreneurship, Payment Types, Credit Cards, Investing, Cryptocurrencies, Retirement
Financial and Economic Literacy
People don’t know as much as they think they know about money. (Kiplinger)
Teens think economics is an important subject, yet they don’t grasp key concepts even after taking an economics class. Here are some suggestions for making the education more effective. (PRNewswire)
The CEO and founder of Pliquit wrote an article for Forbes encouraging banks to step in and take advantage of Gen Z’s consumption of media to fill their financial literacy...
Oct 18, 2019
Current Events, Financial Literacy, Cryptocurrencies, Student Loans, Financial Scams, Career, Budgeting, Taxes
Rather than focusing on life events, banks are now basing their products and marketing on everyday financial decisions, getting into the financial wellness business. (The Financial Brand)
Is your credit card debt making you sick? A detailed study by CarefulCents.com finds the answer if “yes.” (PRNewswire)
Here is an article from The Economist that discusses the demise of cash across the world’s economies. (For more detail...
Oct 11, 2019
Behavioral Finance, Cryptocurrencies, Investing, Financial Scams, Career, Retirement
An interesting dive into gender and money: The Myth of the Frivolous Female Spender (NYT)
A longer read from Knowledge@Wharton discussing how FinTech may be helping the underbanked and unbanked. The risk is that many of these services fly under any regulatory radar.
Mark Zuckerberg will face Congress to talk about Facebook’s proposed crypto-currency Libra. He will face a tough crowd, (Axios) and now several backers (Visa,...