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+15 +1
NYC Is Completely Unaffordable, But New Yorkers Are In Denial
Two-thirds of residents say they live in the "greatest city in the world," yet many of those people are barely getting by.
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+15 +1
Young 'to be poorer than parents at every stage of life'
Young people are on track to be poorer than their parents at every stage of their lives, according to a new report. The study, by the Institute for Fiscal Studies (IFS), added that households actually grew richer during the financial crisis. But it said that the reason for the growth between 2006-12 was the increase in pension values over the period. And the slow rate of growth in overall wealth suggested that young people would lag behind earlier generations.
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+14 0
Republicans and some Democrats defend financial advice that’s not worth getting
The president issued a proposed rule requiring all financial advisors to have a fiduciary responsibility to the people they’re advising. This is a no-brainer, even if it’s only a small step toward addressing conflicts of interest in retirement saving. Specifically, Secretary of Labor Thomas Perez and Assistant Secretary Phyllis Borzi hope to curb the practice of inducing people to roll over 401(k) funds into high-cost IRAs...
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+38 +1
Obamacare Sign-Ups Could Get A Bump As Higher Penalties Kick In
The deadline for buying health insurance that starts Jan. 1 has arrived. Many people who lack coverage in 2016 will face fines that could reach thousands of dollars.
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+36 +4
Advocates push for the U.S. Postal Service to offer basic banking
Until the late 1960s, you could walk into a post office and deposit money in a savings account at the same time that you bought stamps or mailed packages. An outgrowth of the financial panic of 1907, the no-frills postal bank surged in popularity during the Great Depression. But as commercial banks expanded and offered higher interest rates, the United States Postal Savings System became as outdated as a black-and-white movie.
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+26 +2
Can The Best Financial Tips Fit On An Index Card?
Yes, according to an economist who wrote a blog post that went viral in 2013. Now he has expanded the basics in a book, The Index Card.
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+10 +1
Still Uninsured? Buy A Health Plan This Week To Avoid A Tax Penalty
Millions are still uninsured, even as the Jan. 31 deadline to sign up for a plan under the Affordable Care Act approaches. No deadline extensions this year, federal health officials warn.
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+36 +1
Why Don’t People Manage Debt Better?
Psychology experiments show why even the financially savvy have a hard time following sensible strategies. By Emory Nelms and Dan Ariely.
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Current Event+1 +1
U.S. orders Citibank to pay customers over debt and collections practices
The Consumer Financial Protection Bureau said on Tuesday it ordered Citibank to pay $5 million (£3.5 million) back to customers and $3 million in penalties over its debt sales and collection practices.
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+6 +1
Revealed: the 30-year economic betrayal dragging down Generation Y’s income
Exclusive new data shows how debt, unemployment and property prices have combined to stop millennials taking their share of western wealth
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+45 +1
A hard sell: the industries that can't get millennials buying
From insurers to carmakers and financial advisers, whole sectors are scratching their heads wondering how to market to Generation Skint
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+9 +1
Rethinking wages for tipped workers
Due to low federal minimum wages for tipped workers, many grapple with poverty rates. Seven states, however, pay tipped workers full minimum wage before tips. And with minimum-wage hikes looming, some restaurants are pioneering no-tipping policies, eliminating gratuities in favor of higher hourly wages for workers. NewsHour's Alison Stewart reports.
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+31 +2
Last Week Tonight with John Oliver: Credit Reports (HBO)
Credit reports play a surprisingly large role in our lives, but even more surprising is how often they contain critical mistakes. John Oliver helps credit agencies see why this is a problem.
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+3 +1
All the financial advice you’ll ever need fits on a single index card
At first glance, fiscal planning can seem more complex and time-consuming than it’s worth. But according to Professor Harold Pollack of the University of Chicago, you can fit all the financial advice you’ll ever really need on a single index card. Economics correspondent Paul Solman takes a look at Pollack’s ten easy tips for simple and sensible money management.
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+16 +1
For couples skipping the ring, it pays to plot out finances
As couples live together in greater numbers, old rules about how to divide finances and plan for the future don't quite fit the modern family. Experts offer financial tips for unmarried couples.
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+15 +5
People Demand 'Banks for the Common Good' to Overthrow Multinational Behemoths
In a new report (pdf) focused on Scotland but with global implications.
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+28 +2
For first time in Modern Era, living with parents edges out other living arrangements for 18- to 34-year-olds
For the first time since 1880, Americans ages 18 to 34 are more likely to be living with their parent(s) than in a household shared with a spouse or partner.
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+4 +2
Homeownership is no longer the American Dream
Americans now confuse renting money from the bank for true home ownership. “The system of banking we have both equally and ever reprobated. I contemplate it as a blot left in all our Constitutions, which, if not covered, will end in their destruction, which is already hit by the gamblers in corruption, and is sweeping away in its progress the fortunes and morals of our citizens. Funding I consider as limited, rightfully, to a redemption of the debt within the lives of a majority of the generation contracting it...
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+40 +2
Last Week Tonight with John Oliver: Debt Buyers (HBO)
Companies that purchase debt cheaply then collect it aggressively are shockingly easy to start. We can prove it!
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+47 +2
Last Week Tonight with John Oliver: Retirement Plans (HBO)
Saving for retirement means navigating a potential minefield of high fees and bad advice. Billy Eichner and Kristin Chenoweth share some tips.
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