June 12th, 2014

For Most Americans, the Housing Crisis Isn’t Over

The Housing Crisis Isn't Over

In the eyes of many economists, the housing and mortgage crisis of the late 2000s is in our national past. According to a recent survey by the John D. and Catherine T. MacArthur Foundation, however, a large majority of Americans don’t feel the same.

The recently released study found that 51 percent of Americans believe that the housing crisis is ongoing and an additional 19 percent are of the opinion that the crisis will get worse before it gets better. This divergence in opinion between experts and average Americans points to very real financial pains that many Americans are still experiencing when it comes to housing. These hardships include 52 percent reporting that they’ve made at least one sacrifice in the past three years in order to afford their rent or mortgage payments. According to the Macarthur Foundation, these sacrifices include neglecting to save for retirement, piling up credit card debt, passing up needed healthcare, moving to a worse neighborhood or even sacrificing healthy meals.

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November 15th, 2011

Why Our Parents Had More Money at Our Age

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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.

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November 4th, 2011

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

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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.

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November 1st, 2011

Consumer Confidence Drops at the Worst Possible Moment

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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?

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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.

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October 13th, 2011

Will Bank Transfer Day Take Down Big Banks?

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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.

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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

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August 10th, 2011

4 Steps to Avoiding Your Own Credit Downgrade

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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.

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August 8th, 2011

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

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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.

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March 29th, 2011

Are You a Returnaholic?

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Last holiday season, retailers lost over three billion dollars to return fraud. That’s why according to the National Retail Federation, 17% of stores last year tightened up their return policies.

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