Biases Behind Choices
As humans, we make judgments about people, opportunities, policies, markets & more. A recent report of generational banking and financial beliefs/habits from BAI shares findings about Generation Z's biases.
Clothing Stores Are Closing Stores
Over the last 10 years shopping has moved online leading to many physical store locations to close down. This has caused many retail stores to think outside the box in order to survive.
Coins for Kids
Did you know that your understanding of what money is begins at a very early age? You also build habits at a young age around saving, spending and gifting money. Data shows that it pays to teach kids the value of a dollar.
Family Finance Talk
When parents lack confidence or control of their own financial situation, they can be less willing to talk about money with their children. But data shows that avoiding discussions about finances in the home can be a bad thing!
Pre-pandemic, people though of FOMO as feeling left out of event you didn't attend. But, since the world has become much more digital, FOMO has been adapted by companies and marketing agencies trying to get us to spend more.
Survey results showed that American parents are giving their kids about $30 a week on average for allowance, but kids aren't saving any of it. They need to break the habit of spending all their allowance to learn how to save.
New Year, New Money Goals
Many financial resolutions are made during New Years, as many desire to live a debt-free life. Sticking to these resolutions can be difficult, but there are tips (getting into the habit of saving, writing down your goals) that can help.
New Year, New Money Trends
A shocking new survey reveals that teens are thinking about money differently compared to the way they viewed money in the recent past. Social media trends and Gen Z financial goals prove that the shift is to a more long-term approach!
Rent Your Drobe
There are many complaints about the environmental impacts of the fashion industry; the average person dumps 80 lbs of clothes a year. This has led to people renting clothes instead of purchasing them to limit the waste.
Scroll, Tap, Pay
Instagram has a new feature called checkout, allowing you to purchase products directly from Instagram instead of having to visit another website. While this may seen convenient, it makes it easier for people to impulse buy.
Until the Game Stops
In late January of 2021, GameStop (GME), was all over the news because of a stock market frenzy. So many people are left with questions about the events that occurred and this episode breaks down the basics.
Viral or Vicious?
The personal finance community on social media is large! There are many who believe that this type of content is life-changing in a positive way, others think there are more negative aspects to financial advice on social media.
Wealthy? Not Me!
The annual Modern Wealth survey from Schwab was released in May 2022 and it shows how much money Americans think you must have in order to be considered wealthy. How has the average answer changed?