Here's a cautionary tale on the economy. "The Consumer Federation of America (CFA) analyzed the latest U.S. Department of Education data related to the 42.4 million Americans who owe a combined $1.3 trillion in student loans and found a 14% increase in defaults from 2015." So says an article from Investopedia.com. And they share a solution that I wholeheartedly agree with. "If you’re just starting college, experts advise trying to be sure you graduate with loans equal to – or lower than – your expected first year’s salary. And don’t believe the mistaken stories that you can simply file for bankruptcy. The government will even garnish Social Security checks if you don’t make payments." Here's an article on How to Decide If You're Taking On Too Much Student Debt.
On a related topic, our friends over at MoneyTalksNews.com want to remind parents of the dangers of co-signing student loans. "Thirty-five percent of co-signing parents say they regret being a co-signer for their child’s private student loan." To find out why read "Think Twice Before Co-Signing for Your Kid’s School Loans".
Hazel over at InvestementZen.com has created an infographic entitled Here’s Why It’s Actually More Expensive To Be Poor. She begins by pointing out things that cost more if you're living paycheck-to-paycheck. I admit to being concerned that would make it easier for people to feel trapped and give up on changing their circumstances. In fact, I did an article Could What You Believe Make You Wealthy Or Poor? to address that concern. So I was very happy when Hazel came through with 4 ways that people can break out of the cycle.
If you shop on Amazon (and based on the store closing figures you see it seems like everyone does) you've probably noticed that they began charging sales tax on April 1st. Forbes has an article explaining the why and how of it.
Finally, according to a MarketWatch survey quoted by Kiplinger "43% of Americans surveyed said their No. 1 fear in retirement was the possibility of outliving their savings." The article suggests 5 things you can do to develop a retirement game plan. It's well worth a few minutes to read it if you're approaching retirement or newly retired.
Keep on Stretching those Dollars!
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