What Is the Current Consumer Confidence Index? Non-partisan think tank The Conference Board reports the Consumer Confidence Index each month. The Board bases the index on a monthly survey of 3,000 households. The report gives details about consumer attitudes and buying intentions. It provides a national summary and a breakdown by age, income, and region of the country. How Does the Consumer Confidence Index Work? The Conference Board created the index in 1967....

What the Current Inflation Rate Means for You The current inflation rate tells you how quickly prices for the stuff you buy is rising (or falling). The Federal Reserve works to keep inflation in a healthy range, but it takes time for the tools to work. By watching the inflation rate, you can make some guesses about what the Federal Reserve might do to influence interest rates, up or down. Inflation influences how consumers spend money now, and their expectations about how they’ll spend in the future....

Definitions and Examples of the Japanese Yen The yen is the official Japanese currency and it was adopted as legal tender by the Meiji government in 1871. The government wanted to modernize the monetary system in order to strengthen Japan’s presence in international markets. The yen was previously fixed to the U.S. dollar in 1949 at a rate of 360 JPY to 1 USD. From 1959 to 1973 the Japanese monetary authorities relaxed the fixed exchange rate to the U....

Recourse is available for any type of loan, including mortgages, auto loans, credit cards, personal loans, and business loans. Whenever there is a disconnect between the loan you thought you could obtain and what your lender agreed to, it’s worth narrowing that gap to boost the odds of approval when you re-apply for the loan. Identify the Cause of the Denial It’s important to find out why your loan application was declined before you apply again....

In June of 2021, the U.S. Supreme Court ruled 7-2 to dismiss the challenge to the landmark legislation, which has subsidized coverage through government-run health insurance marketplaces. A group of 18 states led by Texas alleged the law was unconstitutional after the penalty it had originally imposed on people who didn’t get health insurance was eliminated in 2019, effectively rendering the requirement to get basic health coverage moot. But the high court said the states failed to prove how the requirement for health coverage had caused harm....

For instance, let’s say Acme Corp. issues a 20-year bond with an issue size of $10 million. This provides it with the cash it needs to build a new factory. It can also open new stores, promote growth, and fund its operations. Investors purchase the bonds because they often offer higher yields than government issues. Corporate bonds have historically made up 18 to 20% of the total U.S. bond market....

How can a bank issue a preapproval letter that is a big fat lie? Very easily; they exclude certain pieces of information in the letter itself and make those exceptions contingencies. Moreover, not all preapproval letters are actual preapproval letters. There is a difference between a pre-qualification letter, known as a prequel, and a preapproval letter. The Differences Between a Prequel and a Preapproval Letter A prequel, which is typically the type of pre-approval letters that a mortgage broker might issue, state the following types of documentation: Prequalification Letter:...

Here’s how the work-life balance works, and why small business owners need to care about it. What Is Work-Life Balance? Work-life balance simply means striking a healthy balance between your working life and your personal life. Work-life balance isn’t necessarily defined as an even split between the hours you spend at work and the hours you spend on hobbies. The balance is more nuanced than that, and it also varies among different people....

World Sugar Markets Versus Domestic Sugar Markets The two sugar futures markets are world sugar #11 and U.S. sugar #16. While the price differential between the two sugar contracts may lead one to believe that the U.S. produces the Rolls Royce of sugar, the sweet commodity is virtually the same around the world. The discrepancy in prices is due to subsidies and a tariff program that supports U.S. sugar farmers. Sugar production in the U....

Before you decide, it is important to take the time to evaluate your present situation, to explore career options, to decide if your career needs making over, and to choose a career that will be more satisfying for you. Why People Change Careers There are many different reasons why people want to change careers. Of course, it’s a personal decision with many factors involved. Joblist’s Midlife Career Crisis survey reports on the top five reasons people change careers:...

From using technology to going paperless, there are ways to cut your overhead without feeling the pinch. Use Technology Technology allows us to save money and advance our businesses in ways that weren’t possible even five years ago. From teleconference and online payment services to open-source software and remote desktop applications, there are many ways you can reduce business costs with technology. Go Paperless The cost of paper, ink, mailing supplies, and postage may seem minimal at times, but it can add up to a large business expense....

Lenders typically calculate minimum payments as a percentage of your total balance, and an amount of 2% to 4% is common. But with credit cards typically charging interest between 14% and 26%, the 2% is not even the equivalent of the monthly interest portion. Think about the power of compounding if you keep an increasing balance. Because those payments are so small, paying that amount can result in several problems, and it’s better to pay extra when you have funds available....

When to begin claiming Social SecurityWhen to retire from your jobWhat are your pension optionsHow are your retirement funds invested 1. When to Begin Social Security The single biggest retirement decision you will make is when to begin your Social Security benefits. More than 50% of Americans will rely on Social Security for more than 50% of their retirement income. Mistaken Social Security Assumptions Don’t think you need to start taking Social Security as early as possible....

If you are currently saving for retirement in a 401(k), you already have taken a step in the right direction. While you may rest at ease thinking you are one of the fortunate ones able to save for retirement, it is important to realize that just participating may not be enough. If you aren’t paying attention, you may be making some major mistakes in your 401(k) plan that you are not aware of....

There are other things you’ll want to consider: from whether you can afford a second mortgage and any issues that will come up at tax time, to the type of home you want, and any additional maintenance and other costs that will come into play. 1. Consider the Location You might assume that deciding on a sales price first is the most important step. While price carries weight, it is not what always drives the decision to buy a second home....

When you start shopping for a mortgage, it’s easy to get overwhelmed. There are lots of different types of mortgages, each of which is better for some people than others. Here’s how to tell which type of mortgage might be best for you. Fixed-Rate Mortgages Fixed-rate mortgages are mortgages with a single interest rate that stays consistent over the entire life of the loan, whether that’s 15, 25, or 30 years....

Properly managing your debt level is one of the keys to financial success. Whether you are a multi-million dollar professional or a blue-collar worker, successful debt management is your path to financial freedom. If you are struggling to maintain or reduce your debt, you can get your monthly debt payments back to a manageable level with these steps. Your credit card issuer may offer a hardship plan that will lower your monthly payments or interest rate for a period of time....

Having a clear roadmap to follow can help you with that, particularly if you don’t have children who may be able to help with financial planning in your later years. If you’ll be entering retirement solo or you and your spouse are childless, here are six important steps to take to prepare for retirement now. 1. Assign Power of Attorney Assigning power of attorney can ensure that your finances are managed according to your wishes if you’re unable to make decisions on your own behalf....

Here are a few things to keep in mind as you take your first steps toward investing and financial success. Take Advantage of the Power of Compounding You may have heard this a million times, but it’s vital that you truly internalize it in a way that changes your behavior and reorders your priorities. You will end up far richer if you begin investing early. It’s all due to compound returns, and the outcome differentials are staggering....

Some small business tax savings strategies, like timing income and expenses, must be accomplished before the end of the tax year. But others, such as funding a retirement plan, can be done at any time before you file your tax return. If you’re looking for ways to save money on your small business taxes, keep reading. This deduction is in addition to claiming your ordinary business expense deductions. You should qualify if your taxable income is below a certain amount—it was $164,900 for single filers and $329,800 if married filing jointly for the 2021 tax year....