Human beings were not built to be good at personal finance. While evolution has been incredibly effective at helping us survive, it has done nothing to make us better savers. In fact, in a few key ways, it has made us worse. We know that we should save more, that Americans are not saving nearly… Read More
THE MOODY’S FOUNDATION SUPPORTS W!SE PROGRAMS AT HIGH SCHOOL OF ECONOMICS & FINANCE
NEW YORK, N.Y. – Working in Support of Education (W!se) is pleased to announce that The Moody’s Foundation has provided a generous grant to support W!se programs at the Title I High School of Economics & Finance (HSEF) in lower Manhattan. The grant supports the W!se Institute, the Moody’s Summer Experience, and the Moody’s Research… Read More
What Does it Take to Be Wealthy in America? (as reported by Suzanne Woolley on www.bloomberg.com)
Charles Schwab runs an annual survey to calculate their Modern Wealth Index. Essentially, they ask people to define what it takes to be wealthy in America. Answers regarding how wealthy people spend their time and how they live their life are included. Those surveyed are also asked how much money it takes to be financially… Read More
Are You Financially Healthy? (as reported by J. D. Roth on www.getrichslowly.org)
A new report out from the Center for Financial Services Innovation confirms what many of us already know. Americans don’t save nearly enough money. The report divides people into one of three categories: Financially Healthy, Financially Coping, and Financially Vulnerable. On the optimistic side of things, most people do not fall into the financially vulnerable… Read More
Does Your Child Hijack Your Credit? (as reported by Lorie Konish on www.cnbc.com)
You might be among the 29 percent of parents who have had their child use a credit or debit card without your permission. Or you might be among the 52 percent of parents of have let their children borrow one. Do you fit into either one of those categories? Then you probably understand the risks… Read More
The Many Flaws of 401Ks (as reported by Stephen Schurr on www.thestreet.com)
401k plans are the new normal for retirement funding, with the majority of Americans counting on them to live the post-work life they desire. But these plans, as effective as they may be, are not always perfect. And there are certain things that you should look for as you evaluate yours. First, most 401k plans… Read More
When Spending Less Costs More (as reported by J. D. Roth on www.getrichslowly.org)
A common piece of personal financial advice you are likely to hear around spending is to look for bargains. The advice is coming from a good place. Every dollar you are able to save is another dollar that you can invest toward the future. But there’s a problem. Often, when we shop for bargains, we… Read More
Start Saving for Retirement Sooner (as reported by Annie Nova on www.cnbc.com)
If you start saving for retirement at the age of 25, you are ahead of the game. Though you should start saving as early as possible, most people put it off. Still, even those of us who do start saving young, are not saving nearly enough. According to experts, if you are 25 and you… Read More
Change Your Financial Mindset (as reported by David Ning on www.moneyning.com)
Saving more is hard. Identifying opportunities to pay down debt or save extra money is also hard. And it certainly is not fun. But it can be very rewarding, because every time you make the effort to save more, invest more, or eliminate debt, you are getting closer to your financial goals, whatever those may… Read More
Credit or Debit? (as reported by John Ulzheimer on www.thesimpledollar.com)
Should I use a credit card or a debit card for this purchase? It’s a common question we ask ourselves from time to time. Different people have different strategies for how they pay for certain items, because the truth is, there is no one size fits all answer. Credit cards come with some obvious perks… Read More