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Unemployment and global debt worries continue to hurt the economy, adding financial pressure on families that increasingly rely on food stamps. Nearly 15% of the U.S. population relied on food stamps in May, according to the United States Department of Agriculture. The number of Americans using the government’s Supplemental Nutrition Assistance Program (SNAP) – more Continue reading Unemployment, Economy Contribute to Record Use of Food Stamps Along with signs the economy is slowing and consumer sentiment is declining we see that Americans cut back on their spending in June for the first time in nearly two years and their incomes grew by the smallest amount in nine months. This is another troubling sign for an economy that is barely growing. Consumer spending Continue reading Consumers Lower Spending, Save More as Economic Growth Slows Consumers in the U.S. are increasingly using credit cards to pay for basic necessities as income gains fail to keep pace with rising food and fuel prices. The dollar volume of purchases charged grew 10.7 percent in June from a year ago, while the number of transactions rose 6.8 percent, according to First Data Corp. The cause Continue reading Credit Card Use Increases – Shows Gas and Food Inflation and Low Wages Consumers are becoming more worried about their income. As a result, consumer spending may become lower. The share of Americans foreseeing a drop in wages over the next six months compared to those expecting an increase is at its highest level since October 2010, according to the Conference Board’s consumer research center. The research center expects that Continue reading Spending Slows Due to Low Income Expectations Savings, income and spending figures hint at higher household debt. Americans’ disposable incomes, or the money left over after taxes, rose 0.1 percent after adjusting for inflation, following no change in February, a reminder of the challenge represented by rising food and energy costs. The Commerce Department said today that the savings rate held at 5.5 Continue reading Household Debt Up?: Savings Rate Unchanged, Incomes Rise Little, Spending Up While there are steep odds to overcome, living with only one family income, when you are used to living on two incomes, can be done with thorough planning and a willingness to make choices. It is critical to have a sincere and honest conversation with your spouse about why you’re making the choice to live on Continue reading Going to One Income – Impact on Saving, Debt, Retirement, Spending, Lifestyle, Money, Budget, Expenses As concerns about deflation grow, where should you go with your investment dollars? Deflation is a sustained period of falling prices. Some analysts recommend that investors buy bonds, which can do better during deflation. The problem with bonds right now is that the interest rates are extremely low. There’s so little downside to rates, and if rates climb Continue reading If Deflation Comes Where Should Your Investment Dollars Go? Gold, Bonds, Cash, Stocks? A lot of people have been using their 401(k) plan as a source of cash. When Fidelity asked some of them why they were tapping into money earmarked for retirement. They responded that the money was needed to keep their home, to pay for college or to purchase a home. If you’re considering a withdrawal from Continue reading How to Get Cash Out of Your 401(k) or IRA Without Paying a Penalty Some statistics are showing that of those with income above $72,511 that 13% will run out of cash after 20 years…and 16% will run out of cash after 30 years. As you’d expect, it gets worse for low-income earners. Of those with incomes between $31,154 to $72,511 it’s expected that over one-third of them (35%) will Continue reading Have Enough Cash to Retire? Statistics Question Retirement Readiness To have a decent chance at earning returns that are high enough to generate sufficient income initially plus keep pace with inflation, most people will have to invest in a portfolio that contains at least some stocks and bonds. And when you invest in stocks and bonds – as opposed, say, to CDs – you Continue reading How to Make Your Money Last When You Retire |
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