IRS will launch free online tax-filing pilot in 13 states next year ( thehill.com )
Welcome to the ‘nepo’ housing market: 40% of homebuyers under 30 get family money to cover their down payment ( archive.ph )
Definitely a trend I see around me (Europe, 30 years old)....
Americans can no longer afford their cars ( www.newsweek.com )
Was the 401(k) a Mistake? How an obscure, 45-year old tax change transformed retirement and left so many Americans out in the cold. ( www.nytimes.com )
"I feel like I'm on a hamster wheel" — US cost of living has skyrocketed since 2020 ( boingboing.net )
The 'old American Dream died,' Realtor details salary needed to buy a home, afford a middle class life in 2024 ( finance.yahoo.com )
cross-posted from: lemmy.ml/post/10623652...
Home prices may be on the verge of cooling off ( www.nbcnews.com )
Home prices weakened month to month, according to Black Knight. While still gaining, which they usually do at this time of year, the gains fell below their 25-year average. This after significantly outdoing their historical averages from February through June. It’s a signal that a slowdown in prices may be underway again....
Is Congress Going to Kill Credit Card Rewards? ( www.nerdwallet.com )
Legislation known as the Credit Card Competition Act, first introduced in Congress in 2022, is described by its sponsors as encouraging “competition in electronic credit transactions.” But if lawmakers end up passing the measure, opponents say it could also torpedo the rich rewards and perks that cardholders have enjoyed for...
(US) Introducing Comingle: An opt-in UBI (Universal Basic Income) to provide a stable weekly income based upon users contributing 7% of their income ( comingle.us )
Comingle is an interesting idea that would act as a pseudo emergency fund to provide a stable week to week income for their users. It could act to stabilize your income if you have an irregular income or as an backup plan or insurance for when you lose a job or income source. It works by distributing the average of all their...
Homebuying activity is falling off a cliff (On a yearly basis, pending transactions were down by 18.7%) ( finance.yahoo.com )
A Huge Number of Homeowners Have Mortgage Rates Too Good to Give Up ( www.nytimes.com )
California to make financial literacy classes a requirement to graduate high school [USA] ( abc7.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....
[USA] Index Funds Have Officially Won ( www.morningstar.com )
The inevitable at last arrived. Last month, for the first time, passively managed funds controlled more assets than did their actively managed competitors....
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....
Wealth inequality starts at birth. Lawmakers debate whether child savings accounts can help ( www.cnbc.com )
12% 401(k) Contribution - What to do? [USA] ( kbin.social )
Hi everyone, I recently landed a new job where the base 401(k) contribution for all FTEs is 12% of your salary. This is regardless of your contribution, with no additional match. I realize that this is unusual for most people and it is for me as well. In my last job, I got up to a 6% match so I maxed that out and didn't think on...
Federal student loan pause ends next month, some borrowers expect budgets to take a major hit ( wtop.com )
Americans are falling behind on their payments ( www.cnn.com )
Anyone think that a site like Wealthftont is a good place to stick an emergency fund? ( www.wealthfront.com )
A buddy of mine told me about Wealthfront recently and they’re 5% money market account rates....
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?
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....
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...
