By Daniel Altman Thanks to inflation and the Federal Reserve’s response, interest rates are now at their highest levels in 15 years. The nationwide average for 30-year mortgages is over 6 percent, credit card rates have gone north of 23 percent and even the federal government is paying close to 5 percent on an annual…
4 Ways to Deal With High Interest Rates in Every Part of Your Business
How to Use a Tax Refund to Fight Inflation
If inflation has eaten away at your budget the way waves erode a beach, then your tax refund might just provide a much-needed protective barrier. As of March, prices are up 6 percent over the past 12 months, according to the most recent consumer price index. At the same time, just over half of filers…
Do Interest Rates Go Down in a Recession?
If you’re living in a time of rising inflation, you may hear about the Federal Reserve (or the Fed, for short) increasing interest rates. Inflation is essentially the devaluing of currency over time. If inflation happens too rapidly, people’s purchasing power decreases, and less money circulates into the economy. Key Takeaways A recession is when…
Should You Rent in Retirement?
Some people rent in retirement because they don’t have much choice; they can’t afford to own homes. But financial planners say renting can make more sense than owning in some circumstances, even for retirees who can afford the costs of homeownership. Renting offers flexibility as well as freedom from all the chores and expenses of…
What Is Purpose-Driven Advertising? Does It Work？
Purpose-driven adverting focuses on promoting a brand’s social or environmental values or purpose rather than solely promoting its products or services. Purpose marketing aims to align a brand with a cause or value that resonates with consumers, build brand loyalty, and increase sales. Purpose marketing permeates television and digital advertising. But is it effective? Does…
Should You Be Worried About Your Money in the Bank?
On the off chance you haven’t been paying attention to world news, several banks in the U.S. collapsed (gone broke, busted, washed up, taken down, bankrupt) in recent days. Now, others here and abroad appear to be threatening to follow suit. In A Nutshell What this means is that these failed banks accepted customers’ deposits,…
Cyber Security a Growing Issue for Small Business
By Jason Fell As more business owners utilize technology such as cloud computing and mobile devices and apps, the risk of hackers accessing money and sensitive business data becomes more real. The House Committee on Small Business addressed this issue today during a special hearing called, “Protecting Small Businesses Against Emerging and Complex Cyber-Attacks.” “Small…
4 Ways to Set Up Your Personal Finances Right and Tackle Your Financial Goals This Year
By Kale Goodman The start of the new year ushers in new resolutions and goal setting, ranging from getting in shape to quitting bad habits or even learning a new skill. It’s also the ideal time to take on new financial goals. These might include paying off debt, purchasing a new car or putting more…
Get Your Spending Under Control
By Janet Bodnar From Kiplinger’s Personal Finance Maybe it’s a New Year’s resolution, high inflation or some other trigger that has made you determined to get your spending under control. Whatever the motivator, here are some tips on getting on top of your spending and building a savings stash. Know your money personality. Figure out…
Should You Tap Your 401(k) When Urgent Financial Needs Arise?
March 29, 2023
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Shortly after COVID-19 started and many people lost their jobs, the government permitted penalty-free 401(k) withdrawals for people short on cash. There was a limit to the withdrawal of $100,000, which had to be paid back within three years—if it was to remain penalty-free. Many people took advantage of the opportunity, but hindsight asks whether…
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