Financial related news.
WASHINGTON (AP) — The second of three estimates on economic growth for the July-September quarter was unchanged at a record pace of 33.1 percent, but a resurgence in the coronavirus is expected to slow growth sharply in the current quarter with some economists even raising the specter of a double-dip recession. While the overall increase [...]
Some credit mistakes are a lot worse than others. Little ones, like paying a credit card bill a day late, may cost you a penalty fee, but that's a relatively minor irritation — it's not going to stand between you and a mortgage. Other seemingly small slip-ups can lead to full-fledged disasters. WHAT MAKES A [...]
When I hear financial tips that are unrealistic or shame-inducing, I cringe. Any advice that makes complicated money moves seem like an easy path to profit is downright dangerous. Questionable guidance is all around, oversimplifying important decisions or claiming a one-size-fits-all approach will work. Amid the black-and-white world of advice-giving, there's a lot of gray. [...]
Working with third-party debt collectors can be confusing and scary. For the more than 68 million U.S. adults with debt in collections, knowing their legal rights is crucial. The Fair Debt Collection Practices Act covers third-party debt collectors — those who buy a delinquent debt from an original creditor, like a credit card company. An [...]
In more than one-third of U.S. families, parents decide how to pay for college, according to a July 2020 report from private lender Sallie Mae. Half of those parents don't inform the child of their decision. Joe Allen, 51, of Frederick, Md., did talk about college costs with his daughter, a freshman at the University [...]
In a crisis, long-term planning may lose out to quick and dirty solutions — regardless of the consequences. As the pandemic and its economic fallout continues, more cash-strapped consumers could fall into this trap if the Great Recession is any indicator. A recent report by the Consumer Financial Protection Bureau found that from 2007 through [...]
The current day trading boom will end as these frenzies always do: in tears. While we wait for the inevitable crash, let's review not only why day traders are doomed but also why most people shouldn't trade, or even invest in, individual stocks. Day trading basically means rapidly buying and selling investments, hoping to profit [...]
NEW YORK (AP) — Two mall operators filed for bankruptcy protection Monday, hurt by the coronavirus pandemic that has forced their tenants to permanently close stores or not pay rent. Both companies, CBL and Pennsylvania Real Estate Investment Trust, said their malls will remain open as they go through the bankruptcy process. Even before the [...]
OMAHA, Neb. (AP) — Five of the six states with the nation's lowest unemployment rates are in the Midwest, have Republican governors and have almost no restrictions intended to slow the spread of the coronavirus. The governors say their decisions not to impose harsher restrictions are paying off with fewer business closures and more hiring [...]
NEW YORK (AP) — The last four years have been good for stocks, with the S&P 500 climbing more than 50 percent and many 401(k) balances looking healthier, as President Donald Trump likes to point out so often. But a look at the market's winners and losers since Trump's surprise win in 2016 also shows [...]