Posted by ET,
under Auto Loans, Debt, ET, The Economy |
08/18/2010
The Federal Reserve released its quarterly report on household debt and credit, and I was surprised to see some good news that I wanted to share.
The Good News: Auto loans are up 25%, payments on a bigger % of debt are current, and the total amount of credit account inquiries has gone up for the first time in 3 years. These are all signs of an increase in demand. Credit Card accounts are being closed faster than they are being opened, and this can be seen as a good thing (consumers are getting smarter) or a bad thing if you believe this will impact credit levels.
Why is all of this happening? I believe that people are past the pain point of holding cash in fear of losing their jobs and the need for a few new things such as a car, work clothes, school items, updating appliances, etc. Yet, they are not opening new cards in an effort to get a one time price break or deal at a retailer. Hopefully these purchases fall within your financial plan, and are budgeted for. If they are, congrats on sticking to your plan and stimulating the economy at the same time.
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No Comments | Tags: Consumers are getting smarter, Economic Recovery, Federal Reserve, Increase in demand
Posted by Erin E.,
under Erin E, The Economy |
04/22/2010
Noah is a police officer, and being a police officer means he can work off-duty providing security or traffic control for a variety of businesses. This practice of off-duty work is called…a hustle. Isn’t that hilarious? But true!
Noah never did work many hustles when our son was tiny. I was working full time and needed all the parenting assistance I could get in between his shifts. Lately, though, since he’s been working more regular hours as a police educator in elementary schools, I’ve been open to the idea. And then when I left my job, I advocated the idea. 
We’re lucky that Noah can pick up extra work fairly easily from month to month. For us average Jane and Joe Civilian, though, a second job might not be so easy to come by. Heck, a primary job is a rare commodity these days it seems. And yet juggling multiple jobs isn’t uncommon, particularly for folks who haven’t chosen a specific career path or whose circumstances require as much.
Which leads me to my question: Do you or have you ever held down more than one job? If not, would you consider it? And why?
Popularity: unranked [?]
No Comments | Tags: Erin E., jobs
Posted by Bryan Link,
under Bryan L, General, In The Media, The Economy |
04/3/2010
There’s a great article in last month’s New York Magazine about women and Wall Street. It’s titled, What If Women Ran Wall Street?, and given Wall Street’s performance over the last two years, I think the obvious answer is: certainly no worse, and probably better!
The article is fascinating and insightful–give it a read.
Popularity: unranked [?]
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Posted by ET,
under ET, In The Media, The Economy |
01/25/2010
Who Dat? OK, we now know the Saints and Colts will be matched up in Superbowl XLIV on Feb 7th. So while all of New Orleans and many folks in the US woke up happy this morning, is there reason to worry that this feeling of optimism and excitement will be crushed this week? Unfortunately, the answer is yes, and the reason is Big Ben. No, not the quarterback from Pittsburgh – he has been sitting on his couch for weeks now. We need to be concerned about Fed Chairman Ben Bernanke’s attempts to be confirmed for another term. What happens if his efforts are shot down this week? Many Wall Street analysts point to last weeks 4% drop in the market as a reaction to the uncertainty around Big Ben’s situation. Due to politics, some experts fear that if he is not given another term, then the US will face another recession – a double dip disaster if you will. This will not be the result of him losing his seat with the Fed, but rather will be due to the prolonged political posturing that will occur regarding his successor. If Bernanke is not voted in, lets hope that DC can put personal agenda’s aside and do what is best for the country by appointing his successor in a timely fashion.
Many people with an ear to the ground in Washington said over the weekend that his confirmation is extremely likely. The average US citizen does not need to deal with greater financial instability right now as a result of politics. One of the smartest things we can do right now is create a smart financial plan with enough savings to endure a potential job loss. Be smart, create a plan, and keep an eye on what happens this week.
Popularity: unranked [?]
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