Each year the amount of total student loan debt outstanding increases. For new graduates, coming out of school with average debt of around $25,000, paying off the full amount can seem like a near impossible task. The first thing you need to do is get a job and create a budget. Figure out whether or… Read More
RENTAL INCOME POPULAR WITH OVER 60 CROWD (AS REPORTED BY AMY ZIPKIN ON WWW.NYTIMES.COM)
The rise in popularity of home and room rental marketplaces like Airbnb, HomeAway, and VRBO has created a whole new source of income for a lot of people. Notably, people over 60 represent the fastest growing segment of hosts, the people listing their homes for rent. It has become a popular way to supplement their… Read More
CHARITABLE GIVING HITS NEW HIGH (AS REPORTED BY AARON SMITH ON MONEY.CNN.COM)
Money given to charity in the United States accounts for 2% of GDP. And in 2015, we hit a new record high for total charitable contributions. Individuals gave just over $264 billion. Corporations and foundations added almost $80 billion more to that, to bring the annual total to $373 billion, 4% higher than the year… Read More
CHOOSING A FINANCIAL ADVISER (AS REPORTED BY PAUL SULLIVAN ON WWW.NYTIMES.COM)
Not everyone needs a financial adviser, and not everyone can afford one. But if you should find yourself in the position to hire someone to manage your money, or at least offer advice, it is important to know whether or not they are the right person for the job. When it comes to your money,… Read More
IS STUDENT DEBT KEEPING US FROM BUYING HOMES? (AS REPORTED BY ALLISON SCHRAGER ON WWW.QZ.COM)
One popular theory about why young people are not buying homes as much as they used to is that rising student debt is making home ownership unaffordable. But new research suggests that may not be right, because twenty-somethings without debt are choosing to live with their parents or rent longer as well. The more likely… Read More
CAR INSURANCE FOR YOUR KIDS (AS REPORTED BY ANN CARRNS ON WWW.NYTIMES.COM)
Insurance is a cost that many people forget to factor into their financial planning and budgeting processes. Most Americans will at some point in their lives pay for health/medical, home, life, and auto insurance. And those costs aren’t fixed. They change depending on what happens to you, where you live, etc. A recent article in the… Read More
SODA TAX PASSES IN PHILLY (AS REPORTED BY JEANNE SAHADI AND AARON SMITH ON MONEY.CNN.COM)
Philadelphia became the second in the country to pass a tax on soda and other sugary drinks. The tax, 1.5 cents for every ounce or $0.18 for a can of soda, will go into effect January 1, 2017. This could be a sign of things to come for those of us who do not live… Read More
Students Honored at 2016 w!se Scholars’ Reception
NEW YORK, N.Y. – On Friday, June 10, Working in Support of Education (w!se) hosted its annual Scholars’ Reception to honor high school students who earned a score of 95% or higher on w!se’s 2015-16 national standardized Financial Literacy Certification Test. Read More
Students Compete for Prizes by Addressing Community Issues
NEW YORK, N.Y. – On Tuesday, June 2, Working in Support of Education (w!se) held the 21st annual Quality of Life INNOVATIONS (QLI) Awards Ceremony, generously hosted by the United Federation of Teachers in downtown Manhattan. Read More
ASSET ALLOCATION AND WHY IT MATTERS (AS REPORTED BY MATT BECKER ON WWW.THESIMPLEDOLLAR.COM)
When you earn more than you spend, you have money left over to save and, hopefully, invest. Choosing to invest your money is a great way to help your savings grow over time. But what you invest it in matters. Asset allocation is the term we use to describe the process of dividing up your… Read More