Reading List for October 4-6

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Oct 04, 2019
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Financial Literacy, Economics, Investing, Insurance, Paying for College, Retirement

Financial Literacy

  • Perhaps we need to solve the innumeracy problem in the US in order to make any significant gains in Financial Literacy. (WAPO)
  • Even if we are successful in requiring every high school student to take a personal finance class, what do we do about all of those past high school who need the same knowledge? Some suggest the responsibility fall to employers. (Pensions and Investments)
  • Read all about NGPF's own Yanely Espinal! (MarketWatch)

 

Economics

  • US manufacturing survey contracts to worst level in a decade. (CNBC) And service sector activity dropped to the lowest level in three years. (AP)
  • Jobs added for September was lower than expected, (retail and manufacturing employment dropped), but unemployment rate dropped again to 3.5%. (MarketWatch 
  • The risks of persistently low interest rates are explained clearly in this Investor’s Business Daily article.

 

Investing

  • TD Ameritrade fires back at Schwab by cutting commissions to zero. (ETrade also followed their lead.) (Investment News)

 

Credit management

  • This WSJ (subscription) article on seven-year auto loans made the rounds this week. My first line in my auto loan lesson has always been “if you need to take out a seven year loan to buy a car, you can’t afford it.”

 

Paying for College

  • What impact does home equity have on financial aid? It varies by school. If the school only requires a FAFSA, it doesn’t, but if you have to fill out a College Scholarship Service (CSS) Profile, it might. (WSJ-subscription)

 

Insurance

  • Will Walmart end up being the force that disrupts our current health care system? (RiskHedge)

 

Retirement

  • Advice on Social Security is easily found, but how do you separate the good from the bad? To start, understand these seven “myths” about Social Security. (MarketWatch)
  • Need some new examples of what it takes to save a million if you follow the 15% rule? (CNBC)
  • What is the fastest growing group of workers in the US? The over 65s! (NPR)

 

 

Relationships

  • The second annual Couples and Money survey conducted by PolicyGenius was released this week. Here are some key findings:
    • One in five people (20%) in a relationship think their partner is bad with money
    • 78% claim they make financial decisions jointly
    • Half of people (50%) don't know their partner's credit score
    • One in ten people (12%) have a secret credit card
    • One in ten people (12%) have hidden a purchase from their partner in the last 6 months
    • 25% of people would spend over $100 on their partner to end a fight 
    • 19% of people don't spend any money without telling their partner.

About the Author

Beth Tallman

Beth Tallman entered the working world armed with an M.B.A. in finance and thoroughly enjoyed her first career working in manufacturing and telecommunications, including a stint overseas. She took advantage of an involuntary separation to try teaching high school math, something she had always dreamed of doing. When fate stepped in once again, Beth jumped on the opportunity to combine her passion for numbers, money, and education to develop curriculum and teach personal finance at Oberlin College. Beth now spends her time writing on personal finance and financial education, conducting student workshops, and developing finance curricula and educational content. She is also the Treasurer of Ohio Jump$tart Coalition for Personal Financial Literacy.