A new WSJ piece describes the current financial landscape for a bunch of people, including myself! We are in tons of debt. Though being in debt is nothing new, the type of debt has changed quite a bit. Most of the debt normal Americans would take on in the past was attributed to housing. But … Continue reading ICYMI: We Are Buying More Than We Can Afford
As humans, we are plagued with the innate hubris of our ability to control our world. Here's the reality: Not only do we have very little control over our own career paths, but we hardly stick to our own weekly schedule! There are far too many variables that get in the way of our plans. … Continue reading The “Economy” is Much Harder to Control Than You (or Trump) Thinks
Ask the average person about her smartphone, and the odds are better than even that she’ll be able to recite the make, model, and salient features such as battery life and camera quality. She may even be in a position to rank the phone relative to other handsets and to make a recommendation as to … Continue reading Do Financial Regulations Decrease Financial Literacy?
The Consumer Financial Protection Bureau’s (CFPB) payday lending rule goes into effect next week. The rule has two parts: Payday lenders must “reasonably determine” the borrower’s ability to repay the loan. This includes taking the borrower’s credit history and spending habits into account when making a loan. Payday lenders cannot attempt to withdraw payment from … Continue reading New Payday Loan Rules: Well-Intentioned With Heavy Baggage
In case you didn’t know, we surpassed the $20 trillion mark in debt. Like many recent college grads or new homeowners, the United States has piled on more debt than what it brings in every year. In fact, the government debt is larger than the amount of goods and services we produce in a year! … Continue reading Slow-Boiled By Good Intentions