Recent News

American families are having trouble with understanding finance

Financial Literacy a Tough Test for Most Americans

The latest trends in spending and debt indicate that America already has forgotten any lessons we might have learned when the bubble burst on the U.S. economy in 2008. The reputable and renowned Pew Charitable Trust says that 80% of American adults are in debt and the Federal Reserve Board says the amount we owe […]

Read More
Auto Sales Slow Because of New Legislation

New Legislation May Slow Record-Breaking Car Sales

Analysts predict record-setting sales for the automobile industry over the next year, though feuding between government leaders over whether discrimination exists in car financing could slow things down. WardsAuto Dealer Magazine says that new car sales will reach a record-high 17.8 million in 2016. The previous record was 17.4 million cars sold in 2000. Car […]

Read More
myRA Account is my retirement account

MyRA Account Starting Point For Retirement Savings

The United States government is opening the door to retirement savings for the millions of Americans who have nothing invested there, but a word of caution if you go inside: There’s not much to see. The federal government is offering a retirement account – called myRA – that has no fees, no minimum balance, no […]

Read More

Borrowers Get Another Way To Repay Student Loan Debt

The U.S. Department of Education (DOE) announced it was imposing regulations to prevent colleges from steering students to specific debit and prepaid cards for use with federal grant and loan money. The DOE also said that it was dramatically improving payback opportunities for the 43.4 million Americans who have student loan debt. The DOE will […]

Read More
Jar full of coins intended for a 401K savings plan

Employers Up The Ante On 401k Plans

There is a new twist on the ages old discussion about how much is needed for retirement savings: Employers – not employees! – are taking the initiative. The Vanguard Group, an investment management company, said that 36 percent of the companies it works with have implemented plans that automatically enroll their employees in the 401(k) […]

Read More
Large cost for education

Workers Put Paying For Child’s College Ahead Of Retirement Savings

American workers have found another escape hatch to avoid contributing to their retirement savings and at least 33 percent of them say they would voluntarily take it. The LIMRA Secure Retirement Institute released a study that said one-third of U.S. workers already have reduced or would be willing to reduce contributions to retirement savings to […]

Read More
Scanning the EMV Card

Walmart Ahead Of Competitors With EMV Cards

While most retailers in the United States struggle to catch up to the new EMV chip technology for credit cards, Walmart has been ready for nearly a decade. The nation’s largest retailer installed machines that could read the chip-embedded EMV cards nine years ago, trained employees on using the machines two years ago and turned […]

Read More
Millennial holding a sign that declares their love for loan repayment plan

Student Loan Repayment A Benefit Millennials Love

Companies have a new carrot to dangle in front of college graduates – help repaying student loans – and experts believe it quickly will become the gold standard benefit for the next crop of college graduates. “Getting help repaying student loan debt is at the top of the list of benefits for today’s graduates,” Bruce […]

Read More
Debt is Due Now On Paper

CFPB Orders Debt Collection Agencies To Refund Millions

The 77 million Americans pursued and often harassed by debt collection agencies won a moment of relief when the Consumer Financial Protection Bureau (CFPB) ordered the nation’s two largest debt buying companies to stop collecting on $128 million in debt and refund consumers $61 million. The CFPB hit Encore Capital Group with a $10 million […]

Read More
Prepaid Reloadable Card Card

GPR Cards An Alternative To Banks, Credit Cards

If you like the convenience of a credit card, but lack discipline and overspend when using one, a general purpose reloadable (GPR) card could be the way to stabilize your finances. GPR cards, more commonly referred to as pre-paid credit cards, are safer than carrying cash and accepted almost everywhere because most are sponsored by […]

Read More