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California to make financial literacy classes a requirement to graduate high school [USA] ( abc7.com )

Americans are 'doom spending' — here's why that's a problem ( www.cnbc.com )

The extreme bubble in stocks 'will end in tears' with the S&P 500 plunging 64%, a long-time bear who called the 2000, 2008 crashes has warned. ( finance.yahoo.com )

cross-posted from: lemmus.org/post/167976...

USA: The financial meltdown is beginning. ( www.nbcnews.com )

They are keeping this quiet, but this affects 2.9% of US bank customers.

What your credit score actually means ( www.vox.com )

YNAB vs Buckets ( www.budgetwithbuckets.com )

I’ve been using You Need a Budget for family budgeting and I like it but it is expensive. I’ve played with Buckets a little bit and looks like a contender. Anyone move from YNAB to Buckets?

Mortgage rates soar to their highest level in 21 years ( www.cnn.com )

The 30-year fixed-rate mortgage averaged 7.09% in the week ending August 17, up from 6.96% the week before. Rates have been above 6.5% since the end of May and climbing higher since mid-July. This week’s average rate is the highest the 30-year, fixed-rate mortgage has been since April 2002 when it was 7.13%.

401(k) millionaires are on the rise after taking a hit last year. Boomers are leading the way ( fortune.com )

Wealth inequality starts at birth. Lawmakers debate whether child savings accounts can help ( www.cnbc.com )

Hyundai and Kia recalled 3.4m vehicles, warning to park them outdoors because they risked catching fire. 6 months later, most are still on the road, unrepaired ( fortune.com )

In September, Hyundai and Kia issued a recall of 3.4 million of its vehicles in the United States with an ominous warning: The vehicles should be parked outdoors and away from buildings because they risked catching fire, whether the engines were on or off....

Baby boomers did one big thing we should all be grateful for ( finance.yahoo.com )

TL:DR author’s positing that despite the public narrative we (gen x and millenials) are mostly better off (especially financially) than prior generations and at least partly due to actions from boomers....

How are you doing relative to the 1x by 30 / 2x by 35 / 3x by 40 salary rule for retirement savings? ( kbin.social )

/r/personalfinance was one of my more frequented subreddits and I find it pretty valuable. I figure I should try to help get the ball rolling over in the Fediverse and it seems like this is the most active substitute so far....

Credit Card Balances Hit New Peak - One Trillion ( www.nytimes.com )

Americans’ credit card balances rose briskly in the second quarter, hitting a sobering milestone of more than $1 trillion, the Federal Reserve Bank of New York reported this month. Credit cards are the most prevalent type of household debt, New York Fed researchers wrote in a blog post, and saw the biggest increase of all debt...

Retirement plan derailed: Will you be among the 40% forced to stop working earlier than expected? ( www.marketwatch.com )

The average retirement age in the U.S. is 61, according to a 2022 Gallup survey. But the target age for retirement is 66.

Federal student loan pause ends next month, some borrowers expect budgets to take a major hit ( wtop.com )

Retail sales increased 0.7% in July, better than expected as consumer spending is holding up ( www.cnbc.com )

The advanced retail sales report showed a seasonally adjusted increase of 0.7% for the month, better than the 0.4% Dow Jones estimate. Excluding autos, sales rose a robust 1%, also against a 0.4% forecast. Both readings were the best monthly gains since January....

[US] End of year PF tasks ( www.kiplinger.com )

I like to review my financial situation near the end of the year to prep for tax season, give to charity, etc. For any who cannot access the article or are too lazy, here are the things they recommend:...

Fossilfreefunds.org | A place to help discover funds that don't support the Fossil Fuel Industry, or to check how much your current funds are invested into fossil fuels. ( fossilfreefunds.org )

Climate Town recently did a fantastic video detailing how banks use our money just sitting around in our account to invest in fossil fuels. Wanting to avoid this, I figured it’d be better to direct my money in an investment that’s at least a little less planet destroying, which lead me down this ecological rabbit hole that I...

Personal Finance