For years, many Americans have been stuck below the poverty line, unable to build the kind of assets needed to propel themselves up the economic ladder. This systemic problem brought together authors, government officials and financial experts in New York City last week at an event called Opportunity Nation, hosted at Columbia University.
saving
It’s Back, not a Moment Too Soon: The 401(k) Match
When times got lean three years ago, a host of companies stopped matching employee 401(k) contributions and you had to wonder if the benefit would ever be restored. Temporary measures that pad the bottom line have a way of sticking around – like the toll on a bridge that has long since been paid for.
Americans Saved Less Money Last Month
In September, consumers spent more but made less than expected. As a result, the national savings rate dropped to 3.6%, which is the lowest level it has been since the beginning of the recession. And that has some people nervous.
News Flash: Longer Lives Require More Retirement Savings
Pre-retirees finally seem to be coming to grips with the financial strain caused by increased longevity. Here’s what they are doing about it.
Struggling for Investment Answers? It Helps To Reframe The Question
Tom ran a public opinion survey a while back where some of the respondents were asked if they believed they could save 20% of their income. Only half said yes. But when the other respondents were asked if they thought they could …
Born to Spend (or Save): It’s All in Your Genes
When it comes to personal spending and saving habits, it’s all in the genes, a new study says. Is it true that we really can’t help ourselves?
A Message From Your Financial Future: Thanks for Keeping It Real
I had lunch with a friend recently, and as friends will, we discussed the ups and downs of our lives. The conversation turned to the dumb things we did when we were younger. I told the story of the worst job I ever had. He …
Use Targeted Saving to Achieve Your Goals
Most people work toward several financial goals at once but keep their money clumped together in a single savings account. With this setup, it’s easy to forget how much you’ve saved for each goal — and to borrow money from one …
5 Ways to Keep Economic Crisis from Driving You Crazy
Everywhere I turn, I see tales of financial doom and gloom. The stock market is crashing! The dollar is inflating! Oil is peaking and homes are foreclosing! If you listen to the breathless media, it’s 2008 all over again.
Consumer Debt: How Do You Compare?
After cutting back for three years, Americans are feeling more relaxed about borrowing and have started increasing their debt levels again. Is that smart? And how does your own financial situation compare?
Why Free Things Can Cost A Lot (And Make Your Brain Freeze)
News that Slurpee sales spike on days when 7-Eleven gives Slurpees away got us wondering why — well, it got our editors wondering why — and we think we have an answer. So, in this Mind Over Money post, we’ll explain how …
Credit Scores: Is 750 the New 680?
Buried in the housing data of the past few days (housing volume is down over the last month while prices are slightly up) was the most interesting release: the performance report of the Mortgage Bankers Association.
