Saving Fincap Fridays
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Pay Day But No Paycheck
Near the start of 2019 the government shut down for 5 weeks, the longest in history. This event showed how most Americans live paycheck to paycheck and how not having an emergency fund can really hurt people.
Bye Bye Banks?
Younger customers have started to switch over to using online financial services instead of the more traditional banks. This is due to the speed and savings one can get through these online services compared to banks.
Do We Have Your Interest Yet?
In December 2018, the Fed raised the interest rate to 2.5%. This will affect consumers as it will increase the interest rates people pay for things like student loans.
Your Stimulus Package Has Arrived
In March 2020, all businesses had to close down except for essential services. As a result, many Americans were out of work. The Senate approved the largest aid package in US history, with trillions to support individuals and businesses.
Beyond the Curve [Frugality]
The spread of Coronavirus has led us to changes in the way we spend our time and money. Many Americans are becoming much more frugal due to the economical situation.
Pay The Price
Inflation is when the buying power of your dollar decreases. A healthy rate is around 2% per year but many things you pay for on a daily basis have surpassed that and increased their prices much more than 2% from year to year.
Pandemic Savings Boost
Over the past year we've seen huge changes to the US personal saving rate. Most Americans never pay attention to this statistic or details about saving rate in general, but things have changed drastically due to the pandemic.
The Money Talk
Many topics are considered inappropriate to have public conversations about, like money. Without having conversations about money, many people continue to make mistakes that they could easily have avoided.
Get S.M.A.R.T.
One system for setting goals for yourself is S.M.A.R.T. Using this system you can make specific goals making it much more likely you will achieve them.
