A lot of smart people have poured countless hours and resources into financial literacy programs over the years. Whether those programs target adults or children, the goal is to increase the financial literacy, and improve the financial habits, of those they teach. However, a 2014 paper found that interventions to improve financial literacy have almost… Read More
What Qualifies as Middle Income? (as reported by Nathan Yau on flowingdata.com)
Terms like middle class, working class, and upper class – or rich and poor – or middle income, get thrown around all the time in news, online and in interpersonal communication. But often times, those terms have no shared meaning, which makes it hard to know what we are talking about. But if you are… Read More
Closing a Credit Card, Explained (as reported by J.D. Roth on www.getrichslowly.org)
How many credit cards do you have? How many do you use? Most people, at various times throughout their lives, have more credit cards than they need. Most personal finance experts will advise you not to open too many cards, because there is a temptation to use them all and wind up deep in debt…. Read More
30% of Workers Taking 401k Withdrawals Early (as reported by Lila MacLellan on qz.com)
30% of workers in the US have withdrawn money from their 401k plan before retirement. That is the finding from a recent survey conducted by MetLife in an effort to learn more about employee benefits. That number should shock us all, considering the steep penalties that exist to keep people from taking money out of… Read More
High Costs of Pet Ownership (as reported by Lyle Daly on www.usatoday.com)
If you already own a pet, you may be very aware of how much it can cost. If you are still thinking about getting one, now is a good time to learn the truth about all of the expenses pet ownership entails. According to data from PetFinder, cats can cost as much as $2,000 per… Read More
Why is it Still So Hard to File Your Taxes? (as reported by Mathew Olson on digg.com)
Taxes are complicated. You would think that if the government wanted to make sure everyone paid their taxes, they would make it easier to file. You would also think that the internet would make it easy to file online with but a few clicks. There is a whole industry – from Turbo Tax to HR… Read More
The Cost of Free Investing (as reported by Arielle O’Shea on www.forbes.com)
The old saying goes: “There’s no such thing as a free lunch.” But in the day of the internet, is that still true? It seems like things that used to cost money are getting cheaper all the time, with some of them now featuring $0 price tags. Investing is one such industry that has been… Read More
How Much House Can You Afford? (as reported by Jonathan Ping on www.mymoneyblog.com)
Too many people spend more than they can afford on a home, and it comes back to bite them in the long run because they can’t afford to make the payments and end up underwater. Part of the reason for this is that we often answer the question, “how much house can I afford?” with… Read More
Married Women Still Defer to Husbands for Financial Planning (as reported by Cassie Werber on qz.com)
One might think that in today’s world, with more parity between the sexes, that more women would be taking the lead when it comes to investing. But that is not what the results of a recent survey by UBS tells us. The survey found that married women were much less likely to have responsibility for… Read More
Tax Identity Theft (as reported by Aly J. Yale on www.thesimpledollar.com)
Identity theft is a major problem during tax season. Tax identity theft traditionally occurs in one of two ways. The first situation arises when someone files a fake tax return using your social security number in an attempt to steal your refund. The second situation arises when someone has used your social security number to… Read More