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Search resuls for: "Oyin Adedoyin"


12 mentions found


☆ Chase Just Bought Your Bank: What First Republic Bank Customers Need to Know
  + stars: | 2023-05-01 | by ( Imani Moise | Oyin Adedoyin | ) www.wsj.com   time to read: 1 min
First Republic Bank branches opened as normal and accounts were accessible Monday morning. Photo: Luiz C. Ribeiro/Zuma PressFirst Republic Bank customers are now JPMorgan Chase & Co. customers after the banks and government officials announced a takeover deal early Monday morning. “You and your assets are now backed by the fortress balance sheet of JPMorgan Chase, and all of your deposits are protected,” JPMorgan told customers in a statement on First Republic’s website Monday.
☆ Make This Simple Move to Get More Return on Your Cash
  + stars: | 2023-04-24 | by ( Oyin Adedoyin | Joe Pinsker | ) www.wsj.com   time to read: 1 min
Billions of dollars in cash are pouring into one of the most staid investments, the certificate of deposit, though many savers aren’t unlocking their full potential. Balances in CDs swelled to $480.2 billion in February, up from $36.5 billion in April 2022, according to the Federal Reserve.
☆ How to Negotiate a Better College Financial-Aid Package
  + stars: | 2023-04-23 | by ( Veronica Dagher | Oyin Adedoyin | ) www.wsj.com   time to read: 1 min
Recently accepted to college? Now is the time to ask for more financial aid. Many schools require prospective students to make enrollment decisions by May 1. Financial advisers say this window is a good time to negotiate financial-aid packages, since some colleges don’t know how many accepted students will actually attend until then.
☆ They Can’t Even: A Generation Avoids Facing Its Finances
  + stars: | 2023-04-17 | by ( Oyin Adedoyin | ) www.wsj.com   time to read: 1 min
Many young adults overwhelmed by financial stress cope by ignoring the problem. Some tune out bank and credit-card balances, lose track of their spending and rack up debt. Average credit-card debt rose 29% to $5,800 in March from a year earlier for millennials and increased 40% to $2,800 for Gen Z, Credit Karma said. Younger people were also more likely to have paid late fees or taken advances from their credit cards, a survey from NerdWallet found.
☆ Young People Avoid Facing Their Finances More Than Ever
  + stars: | 2023-04-17 | by ( Oyin Adedoyin | ) www.wsj.com   time to read: 1 min
Many young adults overwhelmed by financial stress cope by ignoring the problem. Some tune out bank and credit-card balances, lose track of their spending and rack up debt. Average credit-card debt rose 29% to $5,800 in March from a year earlier for millennials and increased 40% to $2,800 for Gen Z, Credit Karma said. Younger people were also more likely to have paid late fees or taken advances from their credit cards, a survey from NerdWallet found.
☆ Here’s What To Keep in Your Wallet Right Now
  + stars: | 2023-04-14 | by ( Oyin Adedoyin | Photographs F. Martin Ramin The Wall Street Journal | ) www.wsj.com   time to read: 1 min
So do we still need wallets? And if so, how much cash should we carry, even if only for emergencies? And how many cards? We spoke to a range of financial advisers, executives and security experts for advice on the best approach.
☆ The Right Amount of Cards, Cash and ID to Carry in Your Wallet
  + stars: | 2023-04-03 | by ( Oyin Adedoyin | ) www.wsj.com   time to read: 1 min
As phones take on more of the work of wallets, people are rethinking how much they still need to carry in cash, cards and identification. Four in 10 Americans say none of their purchases in a typical week are paid for using cash, according to a 2022 survey from the Pew Research Center. That is up from 29% in 2018 and 24% in 2015, reflecting a trend accelerated by the pandemic. Plastic is getting displaced, too: 59% of Americans said they increased their use of digital payment methods last year, according to Mastercard ’s Payment Index.
☆ What the Fed’s Interest-Rate Increase Means for Your Money
  + stars: | 2023-03-22 | by ( Oyin Adedoyin | ) www.wsj.com   time to read: 1 min
The bar Americans have to clear to get approved for loans and credit cards will likely rise along with interest rates, partly as a result of the fallout from the collapse of Silicon Valley Bank. The Federal Reserve raised interest rates another 0.25 percentage point on Wednesday. Though that is on the smaller end of interest-rate increases over the past year, recent troubles across the banking industry, caused in part by higher rates, will lead banks to toughen lending standards, compounding the effect of the increase, financial analysts and advisers say.
☆ What the Fed’s Next Interest-Rate Move Means for Your Money
  + stars: | 2023-03-21 | by ( Oyin Adedoyin | ) www.wsj.com   time to read: 1 min
The bar Americans have to clear to get approved for loans and credit cards will likely rise along with interest rates, partly as a result of the fallout from the collapse of Silicon Valley Bank. The Federal Reserve is expected to raise rates again Wednesday, though some economists say it could hit pause this month or in coming months. Regardless, recent troubles across the banking industry, caused in part by higher rates, will lead banks to toughen lending standards, financial analysts and advisers say.
☆ Savers Pile Money Into Bank CDs as Rates Top 5%
  + stars: | 2023-03-11 | by ( Oyin Adedoyin | ) www.wsj.com   time to read: 1 min
The search for a safe place to save money has led Americans to rediscover the most vanilla of all financial products: the certificate of deposit. High inflation, rising interest rates, and economic anxiety are making CDs cool again, with yields rising as high as 5.25% recently at some banks. Balances in CDs rocketed from $36.5 billion in April 2022 to $418.4 billion in January, according to the Federal Reserve. The accounts, which are insured by the Federal Deposit Insurance Corp. up to $250,000, require savers to commit to saving money for a set period, typically six months or a year.
☆ The Only 401(k) Savers Who Didn’t Lose Money in The Past Year
  + stars: | 2023-02-24 | by ( Oyin Adedoyin | ) www.wsj.com   time to read: 1 min
The only workers whose 401(k) balances grew in 2022 were the Gen Z savers still decades away from retirement, according to new data from Fidelity Investments . While the average nest egg among Fidelity’s accounts lost 23% in 2022, Gen Z workers born between 1997 and 2012 posted a gain of 14%, the investment company and retirement plan provider said. Every other age group lost money. This wasn’t investment savvy or beginner’s luck so much as the good fortune to not have that much invested yet as markets tanked, the data suggests.
☆ More Parents Are Moving In With Adult Children—at Younger Ages
  + stars: | 2023-02-22 | by ( Oyin Adedoyin | Photographs Zack Wittman For The Wall Street Journal | ) www.wsj.com   time to read: 1 min
More parents are moving in with their young adult children, and they are doing it while they are younger, healthier and often still working. One in four Americans aged 25 to 34 lived with parents or older relatives as of 2021, the fastest-growing segment in multigenerational households, according to data from Pew Research Center. Most of this group is adult children moving back in with their parents, but a significant number of older adults are moving in with millennials, said Richard Fry , a senior researcher at Pew. In 2021, 9% of multigenerational households were headed by a 25- to 34-year-old, up from 6% in 2001.
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