When asked to predict what the annual inflation rate will be three years from now, those surveyed by the Federal Reserve Bank of New York each month have grown a bit more optimistic. As the chart below shows, the median expected inflation rate three years from now dropped sharply to 3.5% in the latest poll—less than half what it actually is today, although still above the 2%-3% inflation rate people expected back before the pandemic....

It used to be that the terms “exempt” and “non-exempt” were clearly defined. But the DOL has more rules to protect lower-paid exempt employees from falling below the minimum wage, by requiring that they must be paid overtime. Overtime for Exempt Employees In 2019, the U.S. Department of Labor issued new regulations around pay for exempt employees that make more employees eligible for overtime pay. Under the new rules that went into effect Jan....

That’s according to the most recent data from the home affordability tracker published by the Federal Reserve Bank of Atlanta. The tracker uses data dating back to 2006 and calculates an average homeownership payment as a share of income. This number ticked up from September when homes bought cost an average of 46.3% of household income. But it wasn’t just the fall—affordability worsened significantly throughout 2022. Payments, which include taxes and insurance with a 10% down payment, have skyrocketed since the beginning of 2021 because of soaring home prices and, more recently, mortgage rates....

Learn more about what personal guarantees for a business loan are, and how they’re used by lenders to secure loans. What Is a Personal Guarantee for a Business Loan? A personal guarantee is simply an agreement you sign, promising to pay back the loan personally if the business cannot pay. It’s like you are the co-signer on the loan for your business. This binding agreement may be required by a lender, even if your business is not connected to you personally, such as with a corporation or limited liability company (LLC)....

As many Americans reassess their financial lives, The Balance asked several personal finance experts and influencers to share their own experiences from the past year and how they’ve informed their perspectives on budgeting, investing, and achieving financial independence. Today, we speak with Julien and Kiersten Saunders, aka rich & REGULAR. While their name “rich & REGULAR” is partly inspired by the celebration of “being average,” Atlanta-based couple Julien and Kiersten Saunders found that, like many, last year was anything but....

Learn more about problem-solving skills and how they work. What Are Problem-Solving Skills? Problem-solving skills help you solve issues quickly and effectively. It’s one of the key skills that employers seek in job applicants, as employees with these skills tend to be self-reliant. Problem-solving skills require quickly identifying the underlying issue and implementing a solution. Problem-solving is considered a soft skill (a personal strength) rather than a hard skill that’s learned through education or training....

To help determine if a sole proprietorship is the right business structure for you, it’s important to learn more about what it is, how it works, what it takes to form one, and the pros and cons of doing so. What Is a Sole Proprietorship? A sole proprietorship is an unincorporated business entity run by one individual and in which there is no distinction between the business and owner. According to the Small Business Administration (SBA), a sole proprietorship is the easiest and most common structure that people choose to form a business....

What’s the Difference Between a Broker and an Agent? Agents are licensed salespersons, but they aren’t brokers. A real estate agent can’t work independently; they must work for an employing broker. Brokers are responsible for their real estate agents’ actions. Becoming a Broker A broker’s license is required to work by yourself as an agent. Using California as an example, you can obtain a broker’s license in any of three ways:...

In this article, discover seven reasons to budget your money that may help you look at the process in a new light. Budgeting Stops Overspending Spending money without thinking carefully about where it all goes can easily lead you to overspend on a monthly basis. Overspending limits your spending power in the future, as more and more of your income has to be applied to debt payments. If you are worried about restricting your spending, consider what it would feel like to have the majority of your paycheck applied to credit card payments....

Getting rid of the negative credit report information and catching up on past due bills is the best way to start rebuilding bad credit. Raising your score high enough to get approved for credit cards and loans and qualify for better interest rates means going beyond these initial steps. You’ll also have to prove to new creditors and lenders that you can handle credit responsibly and won’t default on new applications if you’re approved....

The value of home insurance is often higher than the cost of new construction or the purchase price of the home. If you own a home and pay to insure it, you may wonder why. The reason is the many costs that will come up when a home needs to be rebuilt. The difference between the value of your home and the value of the insurance is due to these costs....

Heightened Inventory It is common for a business to expand its product line, which increases inventory. However, if inventory is going up, but nothing has changed within a company’s offerings, it may mean items are not selling. In many industries, the longer a product remains shelved, the bigger the risk it has of becoming obsolete or spoiling. It is simple to spot this problem by examining the balance sheet. It is important to calculate inventory for the year by using the ending inventory number from the previous year’s balance sheet....

Learn more about reference checks and review a sample reference check form to get an idea of what your previous employers may be asked when they are called. What Is a Reference Check? A reference check is a tool used in the hiring process to verify references for each job candidate. References are a significant part of the job application process. When you apply for a job, you may be asked to provide a list of professional references—former managers, coworkers, or employers—with your application....

Rents jumped 2.3% in May, the largest one-month increase since 2015, to an average price of $1,747 per month, according to data released Wednesday by real estate website Zillow. The chart below shows how a steady increase in rents subsided during the early days of the pandemic, only to surge to record highs this spring. The listed price is the average for all housing available for rent, including single-family homes, apartments, and condos....

How to Use Samples and Templates Designing a document from scratch can be time-consuming and difficult. Along with helping with your layout, written examples can help you see what kind of content you should include in your document. They can also give you ideas on the type of language you want to use. For example, a sample resume might show you the kind of action words you should include in your resume....

“Resume buzzwords are commonly used words or phrases that hiring managers tend to see too much of,” said Linda Shaffer, chief people and operations officer at background screening company Checkr. In her six years at Checkr, Shaffer has conducted between 600 and 700 interviews and reviewed countless resumes. In her experience, resume buzzwords are words that seem overused, vague, and lack originality. “The main buzzwords I’d rather not see on resumes are ‘hard worker,’ ‘team player,’ and ‘results-oriented,’” Shaffer said....

As long as you have a solid long-term retirement savings plan in place, you can certainly leave room for other financial goals, including helping to fund your children’s college education. Learn more about why your retirement savings should remain your most important financial objective, along with some tips on how to set aside funds for college at the same time. How to Decide Between Saving for Retirement and College When you have kids and start thinking about the potential cost of their college years, it might seem like saving for retirement is something you can put off for a while....

Learn how an S corporation pays taxes, why it can be beneficial to pay taxes this way, how to select S corporation status, and some pros and cons of S corporations. What Is an S Corporation? S corporations are corporations that decide on an alternate way to pay yearly income taxes. Instead of the corporation paying the tax itself, the company’s income, losses, deductions, and credits are paid by the owners....

Here are tips for what to ask the interviewer during a second interview, examples of the best questions to ask, and advice on how to ace the interview. Tips for Asking Questions at Second Job Interview Since you don’t want to repeat what has already been asked and answered, it’s important to have a different set of interview questions ready for your second interview. It’s especially important if your second interview is happening with the same person as the first interview....

FG Trade / Getty Images The list includes consumer-driven and defensive industries spanning many sectors. Technology Sector Funds The technology sector is a group of stocks of technology-oriented businesses. These can include producers of computer hardware, software, or electronics as well as service industry companies, such as those providing tech and data processing. This sector includes Apple, Microsoft, and Google. Finding the best funds and ETFs in this sector can be tricky....