Oct 16, 2020
Current Events, Economics, Investing, Paying for College, Budgeting, Insurance, Retirement
Retail sales up 1.9% in September. (CNBC)
The unexpectedly big gain in spending comes after months of historically high savings as consumers retrenched due to the Covid-19 scare. The personal savings rate peaked at 33.6% in April and remained at 14.1% in August, the highest pre-pandemic rate since June 1975.
(Ed Yardeni) took a closer look at the recovery by sector of the economy in his blog post dated October 9.
First-time unemployment claims of 898,000 back on the rise this...
Sep 25, 2020
Economics, Investing, Paying for College, Career, Retirement
Unlike 2008, housing is holding up the economy during this recession. (CNN)
U.S. new home sales rise to near 14-year high last month (CNBC)
But the pandemic has driven demand up and supply down in many markets, pushing home prices out of reach of many. (CNBC2) (WSJ-subscription)
New unemployment claims last week were 870,000, still at historically high levels as states struggle with backlogs and identifying fraudulent claims. Continuing claims...
Jul 31, 2020
Economics, Investing, Stocks, Paying for College, Retirement
There was so much relevant news this week, this list runs a bit long, but it is sure to have something you will find interesting!
The Federal Reserve met this week and left interest rates unchanged (near zero). Dow jumps 150 points. (Forbes)
Far and away the biggest economic news this week was the historic annualized drop of 32.9% in the second quarter. (Note: add this example to your lesson on compounding.) Did one-third of the economy disappear in the second...
Jul 30, 2020
Investing, Stocks, Retirement, Current Events
This update is dominated by the impact Covid-19 has had on the investing this year.
Why is the stock market, after initial chaos at the beginning of the pandemic, not reflecting the downturn in the economy? What should investors consider in terms of diversifying, rebalancing, and retirement savings? And what about gold?
The NYSE president explained at the end of May that the “market” as represented by the S&P 500 or Dow Jones Industrial Index is a) forward looking...
Feb 28, 2020
Investing, Stocks, Current Events, Paying for College, Financial Literacy, Retirement
Given the huge and rapid correction in the stock market this week, we start this week’s list with the “Investing” articles:
This is the fastest market “correction” in history, and we aren’t done yet. (Yahoo Finance)
"Is The Stock Market Going to Crash?" The Irrelevant Investor takes a deep dive for those of you that like numbers and stats and graphs to address this question.
WSJ-(subscription) columnist Jason Zweig reports on survey results...
Feb 14, 2020
Personal Finance, Savings, Credit Cards, Investing, Economics, Retirement
Happy Valentine’s Day (and Presidents’ weekend)! In recognition of the holiday, I am sharing the first article from Barry Ritholz’ reading list this morning from Behavioral Scientist in case you still need to find that perfect Valentine’s card for the people in your life. Enjoy!
We do what we do to keep future generations from repeating our financial mistakes. According to a recent survey by Deposits.com, 85% of Americans admit to making financial...
Jan 24, 2020
Current Events, Credit Scores, Budgeting, Career, Investing, Retirement, Personal Finance
Current Events/Credit Scores
One of the biggest stories hitting this week and running through social media is news of the new FICO scoring criteria. (USA Today)
“Most consumers will see less than a 20-point swing in either direction,” David Shellenberger, FICO’s vice president, product management, scores, said in a statement on Thursday. “That’s roughly 110 million that will see only a modest change to scores, if at all.”
Many of you shared...
Dec 20, 2019
Personal Finance, Budgeting, Credit Scores, Investing, Paying for College, Taxes, Retirement
Many of the articles this week have a common theme: reflecting on the 2010’s as the decade comes to a close. Wishing you all a joyful holiday season and hope you enjoy your well-deserved break!
Do you think the Social Security Administration should mail out statements annually, or let people log on and check themselves? (WAPO)
Time again for New Years Resolutions: Here is a list from AICPA of 20 things you should consider doing to keep your financial life in order....
Nov 29, 2019
Economics, Paying for College, Investing, Retirement, Parent Conversations
Today is the official start of the biggest retail push of the year. If you are reading this, you either have already braved the Black Friday crowds (or shopped last night), or you are giving it a pass and shopping online. In any event, the crowds are expected to be a bit less chaotic this year (CBS).
Here is a look at how online shopping and delivery are changing the world (IMO, not for the better):
The Guardian discusses everything from the explosion of warehouses to environmental impact...
Nov 22, 2019
Advocacy, Financial Literacy, Paying for College, Career, Financial Scams, Investing, Retirement
Financial Literacy and Advocacy
ICYMI, Tim Ranzetta had two pieces hit Marketwatch this week. The first is an article explaining how excellent teachers will drive the financial literacy movement, and highlights several teachers you will recognize. The second is an opinion piece in which Tim quantifies the value of a high school personal finance class.
Study Breaks’ Daniel Reed concurs with the need to make Personal Finance a high school graduation requirement.
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...
Nov 01, 2019
Entrepreneurship, Economics, Investing, Credit Cards, Paying for College, Retirement, Financial Scams
An excellent retrospective on the contributions of Peter Drucker on what would have been his 100th birthday. (INC)
How does owning your own business or working in the gig economy impact how your kids will view the world of work and finances? (WAPO)
Economics news this week included another Federal Reserve Rate cut. What does that mean for your credit card, mortgage, etc.? (USA Today)
And the October Jobs report came out today. USA Today explains the...
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,...
Oct 04, 2019
Financial Literacy, Economics, Investing, Insurance, Paying for College, Retirement
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)
Sep 20, 2019
Current Events, Economics, Investing, Paying for College, Career, Retirement
Here is a snapshot of the state of financial education in the US by none other than NGPF Fellows, Courtney Poquette and Kayla Bousom, along with NGPF co-founder Tim Ranzetta. (MarketWatch)
Arizona State Treasurer discusses the importance of financial education. (Personal Finance curriculum is part of the economics course Arizona high school students must pass to graduate.) (USA Today-AZ Central)
Employers are now filling the financial literacy gap with twice as many...