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Personal Finance

One of the best things you can do to build awareness of your financial condition is to view your credit report. Your financial condition — as perceived by potential lenders — can cost or save you thousands of extra dollars throughout your credit repayments, such as the life of a mortgage, for instance.

Credit Card

You can get them for free these days, too. In fact, you are entitled to three credit reports, one from each of the three major reporting bureaus, each year. You can either get them all at once or visit annualcreditreport.com (the government’s official free credit report source) three times a year, to space the credit reports out evenly. Personally, I prefer the latter approach.

What You’ll Probably Find

Well, if your credit report is anything like mine, it contains a list of credit cards with basic information like partial account numbers, a credit limit, and payment history. Some probably date back to college, when you signed up for a credit card in exchange for a free t-shirt at freshman orientation. You may not even know where to find the actual credit card anymore.

For example, here’s a snapshot of one of my own records. This card account hasn’t been touched since 2011, but here it is, on my 2017 report:

old cc sc

There are a number of reasons that I keep this card active, though.

Reason 1. It’s one of my oldest accounts. I opened this card back in 2005 when I was a college freshman (cliché, I know). It’s the second oldest credit card I have, and even though I don’t use it, I like to keep my credit score’s Average Age of Accounts as high as possible.

Average Age of Accounts and How Your Credit Score Is Calculated

Were I to cancel this card, that number — an average of the credit length of all my revolving accounts — would go down. No, it wouldn’t be substantial, but I would still rather avoid it unless necessary. Which leads me to…

Reason 2. It doesn’t have an annual fee. Since I don’t use this credit card, it just sits around collecting dust (actually, I shredded it years ago, so that’s just a figure of speech). It doesn’t have any sort of fees involved, so I’m alright with that. However, if I were being charged an annual fee to hold the account, I would close it faster than you could say “Semi-Annual Sale.”

Many rewards credit cards do have annual fees; whether they’re worth it or not is up to you. If you’re using the card and earning great cash back (that more than negates the fee), go for it. If not, then you’re just throwing money away. And with a mere $1,000 credit limit impacting my credit utilization ratio, it wouldn’t be worth my cash to keep the account open.

Before closing an unused card due just to an annual fee, though, try calling the issuer. Sometimes, they will be willing to waive the cost for you — at least for that year — just to retain your account. Others may have a version of the card that doesn’t have an annual fee, and would happily switch your account over to that product instead. It would keep the benefits of the account on your credit, while avoiding the unnecessary drain of a fee every 12 months. Win-win.

Reason 3. I am still paying off balances on other cards. That credit utilization I just mentioned? This is where that comes into play.

If you don’t hold balances on any of your other accounts (i.e.: you have no credit card debt), closing a card like this won’t really impact you. I, on the other hand, am still paying off some old credit card balances… so closing an account with a $1,000 limit would ding my credit score in yet another way.

This is because of my debt-to-available credit ratio. Also called credit utilization, this is the ratio of how much debt you owe (your balance) versus your line of credit (the available credit). Let’s look at an example.

  • If you have three credit cards, adding up to a total of $10,000 in available credit, but keep a $0 balance on each one, closing a $1,000 limit card won’t hurt. Your utilization will remain at 0%.
  • However, if you have $10,000 in credit but hold balances adding up to in $5,000 in debt, your ratio is already 50%. If you close down that $1,000 card with a $0 balance, your debt-to-credit ratio just jumped up to 55.6%!

So, take into account where your credit already stands before closing an unused card. If you don’t hold any debt, you’re probably fine to close the card and won’t notice much of a difference. If you need that line of credit to boost your utilization, or need the account to factor into your average age of accounts, perhaps it’s worth keeping the plastic around.

Related: Millennials Aren’t Using Credit… But Should They?

Still Want to Close the Card?

So, the above reasons don’t impact you, and you’re still ready to cut up some cards? Go right on ahead… but take these three steps into account.

Step 1. Save your best, oldest card. Find the credit card with the longest, cleanest history, and keep this card. If you don’t know where the credit card is, call the company to update your address information and ask them to send you a new card. This probably isn’t the card you want to use moving forward, though. Just keep the credit history clean, and spend on/earn rebates with newer cards.

Step 2. Close all other inactive accounts. You can do this by calling the phone numbers that are listed with the information for each card. If you have an active card with the same company, ask to move your credit limit from the inactive card to the active card, and then close the inactive card. This will keep your credit history long and your credit report short.

Step 3. Choose the best card to use. If you are struggling to get out of debt, you should choose a low-interest card with no perks. If you are managing your money well, this should be the card that offers the best perks (like cash back, airline miles, etc.) for you and your lifestyle.

Try looking through lists of cards like

You may not have to apply for a new card if you already have one by the same lender; just call customer service and ask to convert your card. They may have some additional options for you, too.

How to Get Your (Legitimately) Free Credit Report

If you want to improve your credit score and get the lowest mortgage rates, the bottom line is you want to keep your oldest, cleanest credit card to show a long, solid history of responsible credit. You also want to have a low debt-to-income ratio and credit utilization ratio (by paying off your balances every month).

Doing these will help you to improve your credit score, qualify for the best interest rates, and receive some of the best credit products (such as rewards credit cards).

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No investment is without risk. You may feel safe when you do what financial advisers consider the “right thing” — invest in a broad stock market index fund with a long-term view — but there is risk there as well.

invest risk

Unfortunately, to build wealth over time, investors need to accept a significant amount of risk. Leaving money in risk-free investments, such as high-yield savings accounts, isn’t really investing at all. By taking on very little risk, keeping the bulk of your wealth in a savings account practically guarantees you’ll lose purchasing power over the long term due to the rising costs of goods that you might buy with that money.

Most middle class investors will need to grow wealth, rather than just preserve it, if financial independence is their end goal. So, just know that if you’re interested in growing your wealth over long periods of time, you’ll need to consider riskier investments than savings accounts.

Different Products, Different Risks

There is a dizzying selection of investment types scattered across the entire risk spectrum. These range from money market funds (low-risk investments, similar to savings accounts) to complex financial derivatives (risky financial moves often best left to professional investors).

Anyone who has ever invested in a 401(k) plan has had the opportunity to be familiar with risk profiling. To help you design your retirement portfolio, most 401(k) managers allow you to select your investments based on your appetite for risk. By asking the investor several questions about how they would react to different levels of investment performance, these 401(k) tools will categorize the investor based on their own, personal risk tolerance: usually low, medium, and high.

Measuring and evaluating the risk involved in any investment is a little more complex, though. While an investor’s risk tolerance can be categorized or marked on a scale, an investment’s risk should be plotted using several dimensions. To evaluate an investment, you should consider the different types of risk that could affect its performance in order to determine whether the investment is appropriate for you.

Resource: How to Evaluate an Investment Portfolio

Market risk

Market risk considers a broader picture. If you are invested in stocks, particularly if you choose the less expensive (but not necessarily safer) route of investing in a broad stock-based index fund, you have to accept that the overall economic condition of the country — or even the world — will cause your investment’s value to fluctuate. Market risk is relevant also for investments in single companies, bonds, or other products.

A market crash or decline could crush this investment’s performance, even if the quality of your investment remains the same. Investments also follow trends. For several decades, real estate could appear to be a “good” investment, encouraging more people to buy real estate and driving up prices for everyone else. Once the overall sentiment of investors switches to the belief that real estate is overpriced, your property could lose potential value… even though the structure hasn’t changed.

Learn More: 3 Keys to Deciding If Your Real Estate Is a Good Investment

Default risk

Default risk is related to the quality of the underlying investment, and is more apparent when investing in a single company through stocks or bonds. If you invest in a company’s or municipality’s bond, you generally expect a guaranteed return. The promised return is usually higher than what a savings account would provide, but you face the risk of default. If the company files for bankruptcy or if the municipality is mismanaged, it’s possible you won’t receive the return you were promised.

Pensions, thought to be stable investments for retirements, are also exposed to default risk. Today, your company may be promising all retirees access to free health care, but if your company later restructures, that promised benefit might disappear. The government offers a type of insurance for companies that offer pensions, but sometimes that insurance isn’t enough to ensure all pensioners receive exactly what had been promised.

Inflation risk

Financial planners like to assume that inflation runs about 3 or 4 percent a year over long periods of time. This allows planners and investors to calculate the expected “real” returns for an investment. If you assume inflation is 3 percent and your savings account earns 1 percent APY, your real return is a loss of 2 percent a year. This real return takes the effect of inflation into account.

There is a chance, however, that during any particular time, the measure of inflation — or for a more accurate description in this case, the increase of the cost of goods — is significantly more than 3 percent. If the country were to enter a period of hyperinflation, investments in your savings account would result in devastating losses when compared to consumer prices. (At least until banks began to offer more appropriate interest rates.) When a gallon of milk costs $25, a gallon of gasoline costs $30, and a movie ticket costs $75, it will be much harder to get by on the same income you had with today’s prices.

Mortality risk

Consider mortality risk when you have or are considering investments in pensions, insurance contracts, annuities, or any investment with a long-term horizon.

Skydiving

Annuities are the best examples. If your annuity payments or distributions to you continue only as long as you’re alive, you run the risk of dying before you receive enough of your benefit to make the premium payments and fees worthwhile. If your investment strategy focuses solely on the long-term, there is a chance that you will never live to enjoy the benefits.

Life is short. It’s almost always shorter than you would like for it to be. But realize that mortality risk runs in the opposite direction, as well. If you live longer than expected, and you have tried to plan your financial life so you fully expend your wealth during retirement, you run the risk of running out of money.

Related: Should You Take a Lump Sum for Your Pension?

Spend some time to think about the risks of your investments. You may discover that your tolerance for risk is lower or higher than you expected. Perhaps you’ll need to adjust to accept more risk in order to meet your financial goals.

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So, you think you want to leave your job. Now what?

Job dissatisfaction is a worldwide experience, and the occasional desire to quit is universal. When unemployment is high, however, employees of all types can be wary about leaving one job. Employers have all the power in the relationship, and people often feel that staying in a mediocre job or career is a better option than taking a risk with a new position — or worse, with unemployment.

This is an especially valid concern for those who are merely skating by or have failed to really stand out in their existing positions. For these folks, a competitive employment season can be too risky to warrant walking away from the paycheck they steadily receive.

There are always exceptions

Great employees do not need to fear the unknown, though, as they tend to thrive in any situation. Even during periods of competitive job markets, a person for whom excellence is a thread woven into his or her psyche will find employers willing to open doors. The opportunities are out there and ripe for the picking, no matter the market.

Because these successful individuals typically outperform in all situations, though, self-evaluation can sometimes be difficult. 8 Questions Before You Quit Your JobThey are not necessarily those who are the best team players or who follow the company rules, but those who have the desire and skills to strive for excellence in all endeavors they pursue. This is a rare and valuable quality, and it’s a type of work ethic that needs to be instilled early in someone’s life.

It’s difficult to put your best effort into everything you do. If you don’t feel that your life is physically, emotionally, or mentally draining, you are probably operating at less than your full capacity. While I don’t necessarily advocate wearing yourself thin from dedication to your job, it is a trait that bodes well in the workplace.

Even still, these extreme efforts can cloud the perspective of some. If you’re putting in 110% for your job, day in and day out, it can be difficult to take a step back and see whether you’re really where you need to be. Ask yourself the following questions as you, as a high-functioning individual, are considering whether to leave your work behind in favor of new opportunities.

1. Is the company rewarding me for my work?

Reward takes a variety of forms, and the best situation is where your desires match what the company has available. For example, if your only sense of reward comes from financial compensation, working for a non-profit organization with a tight budget could be problematic. Look at the whole picture. If you are passionate about the work you do, your reward may be intrinsic in the work itself. If you are working at your position more out of necessity than desire, your reward should take other forms, as something that is meaningful to you.

You need to let your company know what types of rewards are acceptable, as long as your performance warrants. If the company can find no way to reward you for excellent work, you should look to move on. Employees who seek excellence will almost always be in demand. Mediocre employees, on the other hand, are more susceptible to market forces.

2. Do I have good relationships with co-workers and managers?

Mutual respect is an important aspect of a fulfilling lifetime experience. You may spend eight plus hours a day with the colleagues and managers in your workplace. If you don’t believe them to be good people or if they don’t believe you to be worthy of respect, the time you spend working with them will be unfulfilling.

Beyond respect, you should expect to feel comfortable and at ease. That doesn’t mean there can’t be a sense of urgency, if necessary, within your workplace environment. Respect is the base and, above that, good relationships contain trust. You should expect your co-workers to be just as reliable as you. You shouldn’t need to micromanage others, and they shouldn’t be micromanaging you.

You can’t expect that everyone in your office will be your friend, but you can expect an environment in which there isn’t a pervasive sense of negativity.

3. Is there enough variety in my day?

While excellent performers can certainly function well in daily, repetitive tasks, this isn’t the best use of someone’s time and efforts. Most employees feel under-utilized with their set of responsibilities and authority, but this can be a significant problem for people who strive to excel. Great employees might be willing to put up with limited activities for a while, but it might be better to leave than stick around if there’s no sign of this improving.

Related: How to Prepare With a Flexible Career Plan

The best position for a high-functioning employee is one where you have the opportunity to use as much as your skill set as possible. This is one reason excellence-focused individuals pursue their own businesses; this type of start-up work requires use of all mental faculties.

4. Can I continue to learn from my managers?

Education is a life-long endeavor, particularly if you work in, are interested about, or are passionate for an industry that continuously evolves. Excellent employees know that they should rarely (if ever) be the smartest person in the room. Constant self-improvement is a need, not just for career advancement but for a sense of worth and value. If you are going to spend a large chunk of your day working with people, you want to ensure there are opportunities available for you to continue building your skills, not just from a technical perspective but from a philosophical perspective as well.

Large companies with resources generally understand that employees have a need to continue learning but struggle to learn anything from managers. Taking the place of these learning opportunities, you may find mentoring programs, tuition benefits, company-sponsored seminars, and other programs designed to allow employees to expand their minds. These are good, but not the best replacements for having a mentor who is interested and able to provide the insight you need to improve.

5. If I resolve my dissatisfaction, will I be happy?

Imagine yourself continuing to work at your current company but with all of the above concerns resolved. If this scenario still leaves you wanting more from your employment, it’s a great indication that it’s time to seek other opportunities. Even if you can’t put your finger on the cause of your dissatisfaction, you deserve to be happy. The danger is chasing an unrealistic dream.

The solution is to realize that happiness is a choice. You can simply choose to be happy with what you have. This isn’t “settling,” it’s analyzing your situation and concluding that your needs are being met. If your company is doing a good job of listening to your concerns and willing to place you in the best working scenarios, there is little more you can ask. If you can’t be happy with this, consider whether you would be happy anywhere. If so, consider moving on; if not, choose to be happy.

6. Do I have another opportunity lined up?

A standard piece of advice is never to quit one job until you have another opportunity ready to go. People who strive for excellence might have some trouble with this concept. Someone for whom excellence is an important personal virtue will likely work hard until the day they quit, leaving little time for aggressive job hunting or soul searching. Excellence transcends job market conditions, though, so demand for you will still be high.

As a valuable contributor to your organization, you might not need to be concerned about your company knowing you’re seeking other opportunities. If you’re considering leaving, you should have already had discussions with your managers during which you’ve made them aware of your disappointment. So, this should not come as a surprise to them. The organization is not going to fire you if you are still a great asset, and they might even be willing to help you find your next opportunity.

You will need to dedicate some time to self-marketing. Many people who strive for excellence don’t need external acknowledgment of their virtues for self-satisfaction. To find a job, however, you’ll need to be less humble and more willing to sell yourself as a desirable product. If, however, you are interested in making your own opportunities, you don’t need to wait for a job offer. There’s no time better than now to start your own endeavor.

7. Is my emergency fund ready?

People often stay in jobs they don’t like because they don’t want to risk losing the income. Households have debt to pay, whether from student loans, the expansion of a household, or overspending. Debt traps people into a situation where a strong percentage of every paycheck is destined elsewhere. This isn’t much different than indentured servitude. Even people who strive for excellence can be unprepared financially.

An emergency fund is the answer. Take some time to build an emergency fund from the ground up. Start by taking a small percentage of every paycheck and automatically transferring the amount into a high-yield savings account. You’ll want this account to be able to cover your living expenses for several months to prepare for a potential loss of income. Since you strive for excellence, consider expanding your emergency fund into a multi-layered emergency plan, which offers more flexibility and possibly less time to put into effect.

An emergency fund lets you take more career risks without hurting your family’s finances. You could take a more interesting and rewarding job for less pay, or you can start a new business without worrying about the immediate loss of income.

8. Will my decision affect my family’s stability?

Single people have more flexibility. They can take chances, move from location to location, and put up with less stability than people who have the added responsibilities of caring for a family. With a spouse and children, every decision you make affects more than just one person — and it’s important to keep this in mind.

The emergency fund mentioned above can help smooth financial rough patches when you make your decision to quit your unfulfilling job, but you need to worry about more than just the financial concerns. If your dream requires you to move away from Kansas and set yourself up in California, you can’t make such a decision without considering the needs and desires of the rest of your family.

Learn More: Resigning on Good Terms

The reality of the economy is that most people cannot afford to consider quitting a job without a solid plan in place for replacing the income immediately. Job satisfaction is a luxury at a time when most people feel that they’re lucky just to have a job. If you are someone who strives for excellence in all that you do, you have more options open because you’ve done quite a bit to improve your measure of human capital. Regardless, it’s always a good idea to seek out solutions for improving your current situation before making a significant career move by quitting.

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In your personal finance journey, you may or may not have come across peer-to-peer (P2P) lending platforms. The great news is, these have proven to be solid investments over the past few years, providing much higher returns than what you could earn on bank investments. But we have to wonder:  will P2P platforms continue to be reliable investments, particularly if the economy begins to weaken?

p2p

Since P2P lending only got its start in the early 2000s, we don’t have a particularly strong or reliable track record to fall back on. The first platforms only began coming on line as the last recession – the Financial Meltdown – was unfolding. So while they have been a picture of success since their inception, we don’t really know how they’ll hold up under pressure.

What Effect a Weakening Economy Might have on P2P Lending

In the absence of any substantial performance data from the last recession, we can only speculate what effect a weak economy will have on P2P lending. But we can rely on the general performance of loans in past recessions for strong clues.

When the economy declines, asset prices fall and unemployment rises. In turn, default rates on virtually all types of loans rise. Since P2P loans are unsecured and taken for a variety of purposes, they most closely relate to credit cards.

According to the Federal Reserve, credit card default rates were at 2.34% at the end of 2016. However, they hit a high of 6.77% during the second quarter of 2009, in the middle of the Financial Meltdown.

While P2P loans are priced to accommodate certain default levels, they are based on the most recent default experience. Should default rates rise to something close to what they were in 2009, P2P loans priced based on today’s default rates will likely suffer disproportionate losses in interest rate return.

The Flood of Institutional Money Might Weaken Lending Standards

The basic concept of P2P lending is simple. Individual borrowers come to lending sites in search of loans, which will ultimately be funded by individual investors. But as interest rates have continued low, institutional participation in P2P lending has grown, as banks and other large lenders seek higher returns. For example, Lending Club recently reported that banks funded 31% of loan originations in the fourth quarter of 2016, compared with 13% in the third quarter.

One of the concerns over increased institutional participation is loan quality. As institutions bring larger amounts of capital into the space, loan quality may decline. That can happen as P2P lenders lower underwriting standards in order to draw in a larger number of loans. As they do, the quality of those loans will gradually decline, eventually increasing the rate of default.

It remains to be seen if that will play out as a worst-case scenario. However, not only is the industry itself relatively new, but institutional participation is only very recent. That means that the impact of greater institutional participation has yet to be felt.

Lending Club’s 2016 Scandal

In May of 2016, Lending Club’s CEO, Renaud Laplanche, was forced to resign amid a scandal. A summary of the event disclosed that:

Lending Club conducted a review, under the supervision of a sub-committee of the board of directors and with the assistance of independent outside counsel and other advisors, regarding non-conforming sales to a single, accredited institutional investor of $22 million of near-prime loans. The loans in question failed to conform to the investor’s express instructions as to a non-credit and non-pricing element. Certain personnel apparently were aware that the sale did not meet the investor’s criteria…The review further discovered another matter unrelated to the sale of the loans, involving a failure to inform the board’s Risk Committee of personal interests held in a third party fund while the Company was contemplating an investment in the same fund.

Since Laplanche’s resignation, earnings have gone negative three quarters in a row. What’s more, the pattern of losses are expected to continue through 2017. The company is forecasting losses of $69 million to $84 million, on revenue in the range of $565 million to $595 million for the year. The company cites the loss of investors in the aftermath of last year’s scandal.

We should reasonably expect that Lending Club, as the largest platform in the P2P space, will recover. However the episode should serve as a warning that the development of P2P lending won’t necessarily be an elevator ride straight up. With the number of P2P lenders increasing steadily, there are bound to be more negative surprises.

Read More About Reducing Risk With Lending Club here.

That might make a strong case for spreading your P2P investments across several lending platforms.

The Nature of P2P Loans Themselves

Despite the positive overall performance of P2P lending over the past few years, the practice contains two built-in issues.

The first is the fact that the loans are largely comprised of debt consolidation loans. Though such a loan can potentially improve a borrower’s financial situation by lowering the interest rate and monthly payment that he or she is paying, it also holds the potential to borrow even more money.

For example, many borrowers engage in serial debt consolidation. They have a few credit cards, and then do a debt consolidation to lower the monthly payment. But one or two years into the debt consolidation, and they rack up more credit cards. Eventually, there’s another debt consolidation – and maybe even a third, and a fourth.

From a risk standpoint, the problem is that the borrower is never actually paying off debt. Often, the debt consolidation simply sets the stage for the next round of borrowing. As that cycle continues, the risk of default on the latest debt consolidation loan increases.

The second major concern is that most P2P loans are unsecured. Borrowers can typically take loans as high as $40,000, and for nearly any purpose, without having to put up any collateral. In the event of a loan default, there will be no assets to seize in order to satisfy the debt.

In an economy with low unemployment, low interest rates, and rising asset prices, neither issue is a major concern. But when the economy eventually weakens, both run more than a slight chance of becoming more pronounced.

Positioning Your P2P Portfolio for Leaner Times

All of this should be a reminder that P2P lending, like virtually all other types of investing, is not completely risk-free. And despite recent healthy performance, the situation could change — and change dramatically — in the event of an economic slowdown.

None of this is to discourage investing in P2P lending. Since the next recession is virtually inevitable, though, now is the time to prepare your investments for a change in circumstances.

Prepare Now: Sweat In Up Markets So You Don’t Bleed In Down Markets

How can you protect yourself?

  • As noted earlier, consider investing on several P2P lending platforms. That will minimize the risks associated with any one platform.
  • Don’t use P2P investing as a substitute for the fixed income portion of your portfolio. Instead, make it part of your fixed income investments, to offset and increase the lower rates paid on traditional but safer fixed income investments. You should have both P2P and traditional fixed income investments.
  • Invest across various risk grades, despite the fact that returns may be higher on the weaker grades. Lending Club’s Statistics page (“Loan Performance Details” chart) shows that default rates increase substantially with each lower credit grade.

In regard to the last item in particular, it’s important to realize that default rates are likely to increase more dramatically in the lower credit grades in the face of a bad economy. Those are, after all, the highest risk loans being made.

We don’t have much information available as to how well P2P investing performed in the last recession. But that makes it even more important, at this late stage of the current economic recovery, to make some reasonable assumptions about what’s likely to play out. This will allow us to best prepare for it.

How do you think P2P investing will do when the economy takes the next nosedive?

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The Best Budget Tools for Tracking Your Money

by Aliyyah Camp

Budgeting doesn’t come naturally for everyone. Some of us need a little assistance with tracking our income and spending. That’s where budgeting tools come in. There are several front runners in this space. Many of them offer a wide range of features to help you manage your money better. Here are four of the best […]

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The Obamacare Mandate is Dead — Will There Be a Trumpcare Mandate?

by Michael Pruser

Former President Barack Obama signed an order into law back in March 2010, which later became known as Obamacare. He did so with the hope that it would revolutionize the way Americans handled their healthcare.  However, if Obamacare was to ever survive, it required a large number of healthy individuals to sign-up for healthcare. To […]

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Thinking About Travel Hacking? Watch Out For the 5/24 Rule

by Derek Brameyer
524 rule

So, you’re thinking about adding some plastic to your wallet. You want to take advantage of as many bonuses and offers as possible, and you definitely want to earn cash back where you can. You may even be thinking about travel hacking, where you open a number of new accounts in order to reel in […]

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Buy It Right or Buy It Twice: When It’s Worth Paying More for Quality

by Aliyyah Camp
buyright

Whether or not you should pay more for quality is a decision that comes up often when shopping. The answer varies depending on the product.For some purchases, paying more is a giant waste of money which would be better spent elsewhere. For other items, it’s well worth the additional investment up front to ensure a […]

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Humana: Yet Another Player Pulling Out of Obamacare

by Abby Hayes

After pulling out of a merger deal with Aetna, major insurance company Humana announced that it will drop out of the Affordable Care Act exchange in 2018. The company had already been scaling back its plans available on the exchange. For 2017, it was only selling policies in 11 states. Although Humana has been a […]

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A Sign of the Times: Amazon to Begin Accepting Food Stamps

by Stephanie Colestock

There are over 44 million Americans currently receiving SNAP benefits, better known as food stamps. This financial assistance was designed to provide nutritious food to qualifying citizens, and about 54 percent of beneficiaries are children and the elderly. However, there are a number of struggles that SNAP recipients can face as far as actually spending these […]

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