Posts

Where the Amero Idea Came From The Amero idea was suggested by Herbert Grubel, a professor of economics at the Fraser Institute. Grubel has proposed that a combined currency of the three nations would increase trade by reducing the complexity of trades involving more than a single currency and eliminating exchange rate risk. Grubel also noted that the Amero could reduce borrowing costs and eliminate wage arbitrage—the practice of hiring labor in another country with an unfavorable exchange rate in order to take advantage of the cheap later that results....

Buying a home continues to be unaffordable for many Americans, with the median sales price of a home climbing 10.8% from one year ago to $403,800, though that figure was down $10,000 from June’s record high of $413,800. The average rate on a 30-year fixed-rate mortgage also jumped back over 5% last week, according to data from Freddie Mac. A recent survey by The Balance found that of those who were considering buying a home in the next year, 78% have decided to delay because of high prices....

The decline comes after job openings had risen in September to just over 10.7 million, showing that the Federal Reserve’s efforts to cool the economy might be starting to hit the labor market. But the labor market still remains robust as there are almost twice as many job openings for every person looking for one. The data comes days before the Labor Department releases its much anticipated November jobs report....

The PPI dropped for a second month in a row, a first since the start of the pandemic, with the decline largely driven by easing energy prices. Excluding food and energy costs, prices rose 0.2%. So while today’s report offers some good news about inflation, yesterday’s consumer inflation figures show that higher prices on many essentials like groceries are still burning a hole in our wallets. But even with higher prices, Americans seem to be feeling better about the state of their personal finances....

According to recent data from the U.S. Census Bureau, as of March 2021, just over a quarter of small businesses reported the pandemic as having an overall large negative effect on their business, while nearly 45% of businesses cited the effect as moderately negative. For small business owners who continue to face unprecedented hardships, and may not presently qualify for bank loans, there are some potentially pivotal sources for alternative financing to help them keep their doors open....

Opening a basic savings account is a simple process—you can open a new account in just a few minutes—but knowing when to open one isn’t always obvious. If you are wondering if there’s a “best” time to open a savings account, here are a few things to consider. When To Open a Savings Account Because of the safety and security they provide, a savings account is an important consideration to help you meet your financial goals....

Learn more about how the funding process works. A Final Check The process of funding a loan varies from state to state, but typically it doesn’t take place until all of the loan documents have been signed, and all of the funding conditions have been satisfied. A homebuyer often signs loan documents a few days before the actual closing, but this practice can vary by state. In some regions, the closing can sometimes take place the same day a buyer signs the loan documents....

Passively managed investments are funds or portfolios that are not actively managed by an investor or financial professional. Index funds are built around solidly performing assets. This means they don’t require as much attention as a fund built around investments that are not on an index. There is risk involved in both passive and index investing. Learn more about each of the concepts and the risks involved. What Is an Index Fund?...

Companies employ many different strategies in order to grow, but they are primarily broken into two categories: organic and inorganic. When companies report organic growth, this means they have boosted their size, revenue, or market penetration by growing their businesses and developing new ones. Inorganic growth, meanwhile, comes through the acquisition of other companies. Most companies seek to grow using a mixture of both approaches. Organic Growth: Pros and Cons When people refer to organic growth, they are essentially referring to growth stemming from a company’s operations....

The act was passed in response to a number of corporate accounting scandals that occurred between 2000 and 2002, most notably the fraud that occurred at Enron. What Was the Enron Scandal? A scandal involving public energy company Enron exposed weaknesses in compliance standards for public accounting and auditing. In the 1990s, Enron was one of the largest—and thought to be one of the most financially sound—companies in the U....

The structure, however, was not new. Soldiers who served in ancient Rome were also guaranteed income after they retired. There is also evidence of pensions being offered to public-sector workers throughout history. The First Modern U.S. Pension Plans The American Express Company established the first corporate pension in the U.S. in 1875. Before that, most companies were small or family-run businesses. At American Express, the pension plan applied to workers who had been with the company for 20 years, had reached age 60, had been recommended for retirement by a manager, and had been approved by a committee along with the board of directors....

The File and Suspend Strategy The file and suspend strategy allowed your spouse to collect a spousal benefit based on your earnings record while you delayed the start of your own benefits, thus maximizing your own benefit by accumulating delayed retirement credits. This strategy worked if you attained your full retirement age and suspended benefits prior to April 30, 2016. Benefits of the Strategy Your spouse can’t collect a spousal benefit based on your earning’s record until you’ve applied for your own Social Security retirement benefit....

Subleasing laws will vary by state, so, be sure to check the landlord-tenant laws of your area before entering into a contract. Why Consider a Sublease? There are many reasons a tenant may decide to sublease space. Perhaps the original tenant—known as the sublessor—had too much space and wanted to sublease to make income by filling the empty office. The tenant may have grown too big and moved but was still locked into a long-term agreement so needed to sublease to cover costs....

Credit Card Interest vs. Installment Loan Interest On installment loans, banks calculate the interest you’d accrue during the repayment term, then add that total to your loan amount. In these cases, interest is built into your loan payoff. Since loans have a fixed payment amount that includes interest charges, you know upfront just how long it will take to pay back that loan—as long as you make your payments on time....

We Want More Money for Our House When the average seller sits down to interview real estate agents, it’s easy to get caught up in the excitement over choosing a sales price. More money means more financial opportunities for the homeowner. Perhaps it means the seller can afford to buy a more expensive home, help pay for their child’s college education, or take that greatly overdue vacation. Is your agent correct when they suggest a price out of line with the expectations of other agents?...

Married Filing Jointly You and your spouse are eligible to file a joint tax return if you’re considered to be legally married on December 31, the last day of the tax year. You can file a joint 2022 return in 2023 if you were legally married on Dec. 31, 2022 (the last day of the tax year for most taxpayers). You’ll be entitled to a larger standard deduction if you file jointly with your spouse, and the tax brackets for this status are also more generous....

It’s been estimated that money issues are the driving force in 55.6% of divorces, but you CAN live happily ever after, financially speaking, if you work at not letting financial issues come between you and your partner. In her book Talking Money, Jean Chatzky, columnist for Money magazine and a regular contributor to the Today show, offers practical advice for talking to your spouse or life partner about this emotionally charged issue, including these tips for twosomes:...

When is the right time to start teaching these credit-based lessons? By your child’s early teens, if they don’t start asking about the topic sooner. Starting with basic money concepts allows your child to gain some experience spending money they earn from an allowance, a part-time job, or chores. You might even let them borrow money from you a few times to demonstrate how loans work. Every parent or guardian will introduce the topic of credit to their teens differently, but no matter how you go about it, this basic guide will help you start....

The average rate offered to homebuyers using a conventional 30-year fixed mortgage edged down to 5.26% from 5.28% the previous business day, while the average rate for the 15-year dropped to 4.26% from 4.29% the previous business day. Both had been at their highest points since at least 2019. (Our daily mortgage rate data only goes back to April 2021, but our data on yearly highs and lows date back to 2020, so we know they hadn’t been higher in 2020....

When you need to write a cover letter to apply for a job, it’s sometimes the small things that can make a big difference. The closer to perfect your letter is, the better your chances are of impressing the hiring manager. Follow these tips and techniques for sending a top-notch cover letter, and you will increase your chances of getting an interview. There are also letters of interest (also known as prospecting letters), in which you ask about possible job openings at a company....