November 15th, 2011

Why Our Parents Had More Money at Our Age

**Today’s guest post is contributed by LearnVest.**


As if the economy hadn’t beaten us down enough.

A new report from the Pew Center shows adults younger than 35 have a lot less money than their parents did at the same age.

Specifically, in 1984, an adult aged 35 and younger, had an average net worth of $11,521. Nowadays? An adult that age has an average net worth of $3,662.

So, in 1984, that age group had more than three times as much money.

The decline is not because every generation is suffering right now. Those 65 and older have more money now than the same age group did back in 1984: Adults 65+ in 2009 had an average net worth of $170,494, while that same group in 1984 had an average net worth of $120,457.

What’s even worse is how the spread between the age groups has grown: Back in 1984, those 65+ on average had about ten times as much money as those 35 and younger. Now, they have 47 times as much money.

So, what’s going on here?

Continue Reading | No Comments | Twitter | |

November 4th, 2011

Big Banks Drop Debit Card Fees, But Can They Still Hold on to Customers?

atm fees

Wells Fargo, Bank of America and Chase announced that they’ll be dropping plans to charge customers a monthly fee for using their debit cards. This comes after a month of consumers protesting the fees and threatening to leave big banks with movements like "Bank Transfer Day," Occupy Wall Street movement and other local demonstrations.

Continue Reading | 3 Comments | Twitter | |

November 1st, 2011

Consumer Confidence Drops at the Worst Possible Moment

confidence th

Hey, let’s have a quick catch-up quiz to see how you’re feeling about the economy: How do you feel about current business conditions? What about in the next six months? How do you think employment is doing? Do you think it’ll get easier or harder to find a job in the next six months? How do you think your family’s income will change in the next six months?

Continue Reading | 1 Comment | Twitter | |

October 27th, 2011

Pros and Cons of Using Layaway This Holiday Season

It’s not even Halloween yet and the mania around holiday shopping has already begun. The latest ploy to send holiday shoppers into a spending frenzy? The reemergence of the layaway plan. In response to customer demand and the current state of the economy, Walmart has decided to join other major retailers like Sears, Best Buy and Toys “R” Us in bringing back the old-fashioned layaway program commonly used in department stores for years.

Continue Reading | 3 Comments | Twitter | |

October 13th, 2011

Will Bank Transfer Day Take Down Big Banks?


Occupy Wall Street has received a lot of media attention due in large part to the protests and arrests occurring in New York and other major cities. Many consider the conversation around the dissatisfaction of banks to be a constructive idea, yet despite their growing following, Occupy Wall Street has yet to put any plans into motion to change the system.

That all changed this past week when an event called “Bank Transfer Day” emerged on Facebook encouraging people to switch from their current bank to a credit union by Nov. 5. While the event’s creator is not directly tied to Occupy Wall Street, many of its followers have shown support for the event, and it could mark the turning point for the movement.

Continue Reading | 5 Comments | Twitter | |

August 16th, 2011

Credit Karma Chat: What does the U.S. credit downgrade mean for you?

Bethy and Justine get specific about what the credit downgrade is and what it means for consumers

Continue Reading | No Comments | Twitter | |

August 10th, 2011

4 Steps to Avoiding Your Own Credit Downgrade

poor th

We discussed earlier what you should do with your money in light of the country’s credit downgrade, but what can the country’s credit troubles teach us about our own finances?

Just like the national debt gets a credit rating, your credit score, given by each of the three consumer credit bureaus (Equifax, Experian and TransUnion), is your personal rating of creditworthiness.

Continue Reading | 2 Comments | Twitter | |

August 8th, 2011

6 Tips on Dealing with the U.S. Credit Downgrade


There’s a lot of information floating around the World Wide Web about the recent U.S. credit downgrade. But what is the important information that consumers should know? Here we go over a few basics and how you should react in light of the changes in our economy.

Continue Reading | 4 Comments | Twitter | |

May 26th, 2011

Fact Sheet: What’s in a Dollar Bill?

dolla th

You know that one dollar bill you just shelled out for a small coffee?

Ever thought about what’s it made of or where it came from? We answer those questions and more in our quick dollar-bill fact sheet. Read on, big spender!

Continue Reading | No Comments | Twitter | |

May 13th, 2011

Friday Roundup: Housing Market News

dog th

In a town hall aired Thursday, Obama urged banks to help out struggling homeowners, recognizing that lots of U.S. mortgage borrowers are still struggling, reports CNN Money. But if banks are to help homeowners by doling out longer-term mortgage modifications and principal reductions, it's going to take some time.

Continue Reading | No Comments | Twitter | |

Advertiser Disclosure: The offers that appear on this site are from third party advertisers from which Credit Karma receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). It is this compensation that enables Credit Karma to provide you with services like free access to your credit scores and free monitoring of your credit and financial accounts at no charge. Credit Karma strives to provide a wide array of offers for our members, but our offers do not represent all financial services companies or products.

Editorial Disclaimer: Content on the Credit Karma Blog is for entertainment and information purposes only. The opinions expressed on the blog are those of the authors themselves, and not necessarily Credit Karma or its affiliates. However, Credit Karma may be compensated by companies mentioned in the Credit Karma Blog through advertising, affiliate programs or otherwise. It is this compensation that enables Credit Karma to provide its members with services like free access to your credit scores and free monitoring of credit and financial accounts at no charge.