Do Higher Minimum Wage Improve the Economy Overall – or Hurt it?

One of the hottest economic topics in recent months has been the idea of a higher national minimum wage. The city of Seattle approved a monumental minimum wage hike to $15 per hour, which takes full effect slowly. Employees who work in minimum wage jobs know the struggle of working hard for little pay. Many

Is the Economy Entering a Recession? Top Economists Are Worried

It’s been six years since the Great Recession ran its course. Most Americans feel like things are on a major upswing, with low gas prices, low unemployment, a rapidly rebounding housing market and other positive factors currently at play. When the bigger picture is examined, however, the threat of another slowdown – or even of

Business Planning – Staying Afloat When Times Get Tough

Changes in the economy can send unsuspecting businesses on a roller coaster ride that threatens financial stability and can lead to unrecoverable losses if operations aren’t properly managed. The companies that survive an economic downturn are those headed by smart managers who take the initiative and follow the right steps to support success and growth

How Payday Loans Online Really Work: Reading the Fine Print

Payday loans online offer borrowers a small amount of cash upfront to be repaid later when the next paycheck comes in. Payday loans are typically short term and priced at a fixed dollar fee. In order to receive a loan, the borrower must provide the lender with a post-dated check for the amount of the

Are Payday Loans Right for Millennials?

Originally called salary loans, payday loans and other short-term loans have been around for generations. They were offered to borrowers in need of a week’s worth of pay at an earlier date. These short-term loans were first regulated by the Uniform Small Loan Law of 1916 and are frequently used by millennials a century later.

Cash Advance Industry Growth – What’s Fueling It?

The cash advance business has boomed since companies started offering short-term payday loans back in the 1990s. By 2001, lenders had built up a $14 billion industry. Today, earnings top $46 billion. This does not include title loans and other short-term loans. Many of these lenders are small, regional companies, but some lenders maintain more

Economic Solutions That Could Skyrocket Participation in Your Workplace Retirement Plan!

During this time in which the reliability of Social Security is being questioned, participation in a retirement plan is a way to establish future financial stability and security. Some members of the private workforce have multiple options when it comes to setting aside a portion of their income for retirement, such as a standard savings

The Slowing U.S. Economy: What 2016 Statistics, Trends and Outlooks Are Showing

The Slowing U.S. Economy: What 2016 Statistics, Trends and Outlooks Are Showing Statistics relating to market performance show that the U.S. economy has been on a roller coaster in recent years. Conflicting reports of growth, recession, job creation and consumer spending have led to instability in the stock market and wariness among consumers. Workers are
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Merry Christmas Federal Government

Merry Christmas Federal Government Santa in the Mirror It was no secret who Santa was for the federal government. Santa came in the form of a Senate vote that raised the debt ceiling for federal spending by $290 billion. This new limit was the scaled down version of the $1.8 trillion that was originally sought.

Consumers Who Need Debt Relief May Find a Better Bank

Banks and debt In an effort to find new customers, banks are aiming to help with a big public concern: debt relief. TD Bank, located on the East Coast, hosted a free pizza night for potential customers. Citizens Bank has promised to give new customers $1,000 if they are saving for their children’s college fund.
Housing

Consumer lending still slow to recover from recession

Consumer lending — loans lent to individuals — has been slow to recover from a two-year lull. Loans such as mortgages, auto loans, home equity lines of credit and personal loans aren’t impossible to get but are harder to get approved for. Banks are loathe to repeat mistakes that made them run for government cover.
Waiting for the world's economy to recover.

Best and Worst Cities for Consumers Seeking Debt Relief

Economic recovery Analysts are showing that some cities are closer to economic recovery than others, offering quicker debt relief to their populations. Overall, economists were anticipating national recovery to begin as early as summer of 2009, but definitely by the end of the year. They are noting some cities poised on recovery, while others are
mortgages

10 reasons people are walking away from mortgages

Allowing foreclosure on purpose Many people have reasons for wanting to stay in their home, regardless of how much they’re paying. People don’t want to uproot their families or don’t want to go through the hassle of moving. However, some people are so fed up with the housing market that they’re willing to allow their
Waves

Fewer people are under water on mortgage bank loans

Fewer people are getting under water on the bank loans on their homes. Underwater is when a person ends up owing more to the mortgage company than the home is worth. However, part of it is thanks to the number of foreclosures. Fewer bank loans are getting underwater The number of people under water on

Recent Developments May Improve State Tax Revenue Collection

The Importance of State Tax Revenue Collection to the Economic Health of the Country A general increase of state tax revenue collection is often used as a gauge to measure the health of the economy, specifically economic growth, mainly because the national and local economic drivers have to be in place to make it possible.

Economic Innovation: Despite Global Economic Insecurity, Worker-owned Cooperatives Flourish

Economic volatility is a distress signal that is constantly being emitted from the global financial sector. During times of economic uncertainty, attention tends to gravitate towards businesses that thrive even in an environment marked by widespread economic turmoil. Why is a certain business sector doing so well when others are struggling to survive? This question

Should Changes Be Made to the Way the Payday Loan Industry Is Regulated?

Payday loans are hardly new, but the controversy surrounding them has reached a fever pitch of late. Proponents insist that these short-term loans provide a much-needed service by giving people access to small amounts of cash when they’re in a pinch. Opponents, however, believe the loans merely target low-income individuals who have no other options,