DIRS.INFO The most relevant business & tech news

☆ Credit Card Rewards Are Making Us Jerks, Causing Fights Among Friends
▼ + stars: | 2024-07-25 | by ( Emily Stewart | ) www.businessinsider.com time to read: +15 min

He's not doing all this out of the kindness of his heart; he's doing it because he wants the credit-card rewards. In a recent poll from Ipsos, 71% of Americans surveyed said they had some sort of rewards, points, or cash-back card, and 80% of those with such a card said they valued their rewards. But maybe we love our credit-card rewards too much, to the point that it's making us act in less-than-ideal ways toward those we hold near and dear. But credit-card rewards are, indeed, making things uncomfortable. I recently booked a fight with a friend who remarked she'd gotten some $300 in travel credit from her rewards card.

Persons: Pam, she's, It's, He's, Jane, Joe, there's, Mary fuming, Matt Schulz, Taylor Swift, I'm, Jen, who's, She'd, nonpoints, Emily Thompson, Guy, they'd, Ted Rossman, —, Danielle Bayard Jackson, she'd, Thompson, I'd, Matt, " Schulz, LendingTree, they've, Emily Stewart Organizations: brunch, LendingTree, American, Business Locations: San Francisco, Ipsos, Singapore, Chicago, Alaska, Florida

☆ Setting aside $10 a day could help you save over $1 million for retirement—but you have to start early
▼ + stars: | 2024-07-25 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

Although the thought of saving $1 million or more by the time you reach retirement age may seem overwhelming, the process doesn't have to be — especially if you start early. Instead of focusing on the total, try paying attention to your savings rate, which is the percentage of your annual pre-tax income you're contributing to your retirement investment account. But your savings rate is something you can control. Fidelity recommends a savings rate of at least 15%, inclusive of any employer match. To that point, you can begin your retirement savings journey by setting aside just $10 a day, or $70 a week.

Persons: it's, James Royal Organizations: Fidelity, CNBC

☆ Wages have outpaced inflation since 2020 but many consumers still feel burdened by prices
▼ + stars: | 2024-07-24 | by ( John Towfighi | ) www.businessinsider.com time to read: +5 min

Read previewAmerican consumers have been frustrated by high prices over past years, but there's some good news: wages have outpaced inflation since the start of the COVID-19 pandemic. Since 2020, average hourly wages for most US workers have risen faster than the consumer price index, meaning income has maintained its purchasing power against rising prices. While wage gains have outpaced inflation, it can be difficult for consumers to feel the growth, and plenty of people still miss the "good old days" of lower prices. Since spring 2023, year-over-year wage growth for production and nonsupervisory workers has consistently been above inflation. While US consumers adjust to higher prices, strong wage growth should help ease affordability concerns, Krugman wrote.

Persons: —, Sarah Foster, Foster, Paul Krugman, Krugman Organizations: Service, Bureau of Labor Statistics, Business, Michigan Ross, Economic Policy Institute, Federal Reserve, New York Times Locations: jtowfighi@businessinsider.com

☆ 39% of Americans worry they can’t pay the bills
▼ + stars: | 2024-07-23 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

New York CNN —Many Americans regularly worry they won’t be able to make ends meet. Even higher percentages of Latino (52%) and Black (46%) Americans said they’re worried most or all of the time about making ends meet, according to the poll. More than half (55%) of those making less than $50,000 a year similarly worry about having enough money to meet expenses. Even higher percentages of Latinos (52%), Black Americans (44%) and those under the age of 45 (47%) say they’ve taken extra work. Others say they’ve cut back on driving (41%) and they are taking on credit card debt to afford necessities (37%).

Persons: they’re, it’s, ”, Angela Russell, Russell, – they’re, Greg McBride, they’ve, McBride, who’ve, “ I’ve, Joe Biden, CNN’s Ariel Edwards, Levy, Dana Elobaid Organizations: New, New York CNN, CNN, Centers for Disease Control, Prevention, Bureau of Labor Statistics, Bankrate, Ohio, Walmart, SSRS Locations: New York, Ohio, Cincinnati

☆ The salaries you'd need to afford iconic TV and movie homes from 'Full House', 'The Godfather' and more
▼ + stars: | 2024-07-21 | by ( Celia Fernandez | ) www.cnbc.com time to read: +1 min

This year, the Chicago-area house from "Home Alone" and the iconic "Full House" townhouse in San Francisco hit the market with asking prices in the millions. In June, CardRates.com examined 25 iconic houses featured on screen. Using Zillow's estimated home values and Bankrate's mortgage calculator, the report determined the monthly mortgage rates and the annual income required to afford each property. The mortgage rates were determined assuming a 20% down payment, a 30-year fixed loan, and the current interest rate as of June 2024, according to the Federal Reserve Bank of St. Louis. Some of the properties in CardRates.com's report are currently on the market and the amounts indicated are the current list prices.

Persons: you've, CardRates.com, Louis . Organizations: Federal Reserve Bank of St Locations: Chicago, San Francisco

☆ Camp counselors, golf caddies and 10 other people to consider tipping this summer, according to etiquette pros
▼ + stars: | 2024-07-21 | by ( Ryan Ermey | ) www.cnbc.com time to read: +3 min

Roughly 2 in 3 adults have a negative view of the practice, according to a recent survey from Bankrate, and 30% say tipping culture has gotten out of control. Etiquette pros say tipping guidelines are just that — guidelines. "Good tipping feels good for everyone involved," Daniel Post Senning, co-author of "Emily Post's Etiquette, The Centennial Edition," previously told Make It. Here are some people etiquette experts say are worth considering tipping. But many camps forbid counselors from taking tips, says Diane Gottsman, a national etiquette expert and founder of the Protocol School of Texas.

Persons: —, Daniel Post Senning, Emily Post's, they've, Diane Gottsman, Gottsman, You've, Elaine Swann Organizations: Protocol, of Texas, Emily Post, Swann School of Locations: Bankrate

Here are the best mortgage lenders for first-time homebuyers and the affordable loans they offer, as chosen by Business Insider editors in 2024. If you're a Bank of America Preferred Rewards customer, you can get discountsCheck mark icon A check mark. Offers many unique types of mortgagesCheck mark icon A check mark. Low Cost Mortgages come with only $295 in closing costsCheck mark icon A check mark. Mortgage credit certificatesSome HFAs also offer mortgage credit certificates to first-time homebuyers.

Persons: It's, Chase, Grant, You'll, Carrington, Carrington doesn't, forbearance, HELOC, homebuyers, Truist, doesn't, Flagstar, they're, homeownership, Fannie Mae, Freddie Mac's, you'll, Anthony Park, Molly Grace, Julie Aragon, There's, Lauryn Williams, —, there's, PenFed, USAA, Wells, Wells Fargo, Ally Organizations: Homebuyers Bank of America Mortgage, Mortgage, Chase, Federal Credit Union Mortgage, New, U.S, Bank Mortgage, Federal Savings, Loan, Truist, Flagstar Bank, Business, Bank of America, of America, FHA, Bank, Bank of, Bank of America's, Miami . Bank of America, USDA, Guild Mortgage, Veterans, Navy, Credit, Federal, Navy Federal, Navy Federal Credit Union, Department of Defense, Student Loan, . Bank, US Bank, U.S . Bank, Carrington Mortgage, Carrington Mortgage Services, Consumer Financial Protection, DC, Private Mortgage Insurance, PMI, Down Payments, Quicken, Rocket Mortgage, Rocket, CrossCountry Mortgage, CrossCountry, Loans, Flagstar Bank Mortgage, Federal Housing Finance Agency, Federal Housing Administration, US Department of Housing, Urban, US Department of Veterans Affairs, US Department of Agriculture, Best, Chevron, CFP, Pentagon Federal Credit Union, BBB, Fairway Independent Mortgage Corporation, Veterans United, Movement Mortgage, NBKC, PNC Bank, Better Business Bureau Locations: VA, HELOC, Washington, DC, Charlotte, Dallas, Detroit, Los Angeles, Miami, Delaware, Vermont, Delaware , Vermont, Wyoming, J.D, New York, ., U.S, Massachusetts, North Dakota, Ohio, Florida, California , Colorado , Connecticut, Georgia , Illinois , Indiana , Kentucky, Maryland , Massachusetts , Missouri , New Hampshire , New Jersey , New York, North Carolina , Ohio , Oregon , Pennsylvania, South Carolina , Tennessee, Virginia, Tennessee, Arizona , Alaska, Hawaii, Arizona , California, Florida , Indiana , Michigan , New Jersey , New York , Ohio, Wisconsin, Flagstar, Arizona , California , Connecticut , Idaho , Michigan, Nevada , Ohio, New Mexico, Chevron, Wells Fargo

☆ Tipping culture keeps creeping into ever more parts of daily life — and some people are resisting it
▼ + stars: | 2024-07-20 | by ( Madison Hoff | ) www.businessinsider.com time to read: +8 min

"Everyone is thinking they deserve a tip," Pam — who asked to go by her first name for privacy, but whose identity has been verified with Business Insider — said. Advertisement"I just don't think tipping is a good thing to do," Sandberg told BI. AdvertisementFor instance, Sandberg doesn't see tipping as necessary if he's buying something himself because "there's no extra service." "If I have to stand up to order my food or to buy my product, you're not getting a tip," Sandberg said. AdvertisementMeanwhile, there are services Pam doesn't tip for and ones she does.

Persons: —, Pam, Pam —, It's, Ted Rossman, Rossman, I'm, Xers, culture's, it's, Pam isn't, Michael Sandberg, shouldn't, Sandberg, Tipping, Uber Organizations: Service, Pew Research, Business, Pew Research Center Locations: gratuities

☆ Cash is yielding 5% and many Americans are still missing out. How to juice your savings
▼ + stars: | 2024-07-19 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Today's high interest rate environment has led to rising borrowing costs for consumers, but there is a silver lining for savers: Their idle cash can generate plenty of income – if they can find the right savings products. The Federal Reserve's key interest rate is sitting at a target range of 5.25% to 5.5%, its highest level in more than 22 years . The firm found that about six out of 10 middle-income Americans are leaving their money in lower-yielding accounts, even as interest rates have risen. "Or, there's a perception that the switching costs, or the friction, related to making a change is more work than the benefit of getting higher rates." Meanwhile, LendingClub offers a 1-year CD at a 4.4% APY, while its high-yield savings account offers a 5% APY.

Persons: Tim Wennes, There's, Wennes, —, Darla Mercado Organizations: Santander U.S, Federal, Financial, LendingClub

☆ How to Rein In Rising Auto Insurance Rates
▼ + stars: | 2024-07-19 | by ( Ann Carrns | ) www.nytimes.com time to read: +1 min

Even as inflation has eased, car insurance rates are rising by double digits. According to the Bureau of Labor Statistics, auto insurance costs were 19.5 percent higher in June than a year earlier. Most drivers already know about discounts available for “bundling” auto and homeowner insurance policies with the same carrier or for insuring multiple cars. Becoming a better driver may help. Just one accident can mean you’re paying an average of 43 percent more than drivers with clean safety records, according to the financial website Bankrate, which analyzed insurance data from Quadrant Information Services.

Organizations: Bureau of Labor Statistics, Information Services

☆ Side hustlers make an average of $891 per month, says new report—'It's quite a bit more lucrative'
▼ + stars: | 2024-07-16 | by ( Gili Malinsky | ) www.cnbc.com time to read: +1 min

The average side hustler is bringing in $891 per month. That's up from $810 per month in 2023, or a 10% increase altogether, says Ted Rossman, senior industry analyst at Bankrate. That's followed by 44% of millennials, 33% of Gen Xers and 23% of Baby Boomers. That's followed by Gen Zers, who are bringing in $958 per month, Gen Xers, who are bringing in $751 per month, and Baby Boomers, who are bringing in $561. It's a small monthly hike, but high earning hustlers are still skewing the average much higher.

Persons: Ted Rossman, Zers, That's, Gen Xers, Gen Zers Organizations: Baby Boomers, Boomers Locations: U.S

☆ 3 money moves to make ahead of the Federal Reserve's first rate cut in years
▼ + stars: | 2024-07-15 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

For now, top-yielding online savings accounts and one-year CDs are paying more than 5% — well above the rate of inflation. "Money market brokerage accounts usually pay higher rates than money market or savings accounts at banks," he said in an emailed statement. "Timing your purchase to coincide with lower rates can save money over the life of the loan," Tayne said. However, lower mortgage rates could also boost home-buying demand, which would push prices higher, McBride said. "If lower mortgage rates lead to a surge in prices, that's going to offset the affordability benefit for would-be buyers."

Persons: cardholders, APRs, Tayne, Olga Rolenko, McBride, Mark Kantrowitz, Kantrowitz, Howard Hook, they've Organizations: Treasury, EKS, EKS Associates Locations: Princeton , New Jersey

☆ These kinds of businesses are driving a surge in US corporate bankruptcies
▼ + stars: | 2024-07-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

In the meantime, you can stay up to date on the latest business news with CNN’s Business Nightcap newsletter. Access to credit is especially crucial for small, private businesses that aren’t able raise money through financial markets. “There were a number of programs out there to support small businesses during the depths of the pandemic, and there were relatively fewer filings than usual in 2021 and 2022.”Rising corporate bankruptcies could just reflect a lot of churn occurring in Corporate America, Jamner said. Don’t panicMost banks offer free checking if, for instance, customers have their paycheck direct deposited or they maintain an average minimum balance, reports my colleague Jeanne Sahadi. Marianne Lake, the head of Chase Bank, told the Wall Street Journal last week that Chase might stop offering free checking and other free banking services.

Persons: It’s, ” “, Matt Rowe, Josh Jamner, Jamner, we’re, Reena Aggarwal, “, ”, Banks, Jeanne Sahadi, Marianne Lake, Chase, Jaret, Read, Goldman Sachs, Jerome Powell, Mary Daly, Morgan Stanley, Charles Schwab, Adriana Kugler, Johnson, Kinder Morgan, Tom Barkin, Lorie Logan, Michelle Bowman, John Williams, Raphael Bostic Organizations: CNN’s Business, Washington CNN —, P Global Market Intelligence, CNN, Federal Reserve Bank of Kansas, Nomura Capital Management, Consumer, Institute for Supply, P, ClearBridge Investments, ”, Corporate America, Federal, Fed, Georgetown University Psaros Center, Financial Markets, Chase Bank, Wall, TD Securities, BlackRock, San Francisco Fed, Bank of America, PNC, State, US Commerce Department, US Labor Department, National Association of Home Builders, Johnson, US Bancorp, Discover, Vegas Sands, Northern Trust, Citizens, United Airlines, National Statistics, Federal Reserve, Richmond Fed, Netflix, Novartis, Abbott Laboratories, Marsh, Blackstone, Infosys, Cintas, T Bank, Nokia, American Airlines, European Central Bank, American Express, Fifth Third Bancorp, AutoNation Locations: Federal Reserve Bank of Kansas City, Corporate, UnitedHealth, Wells Fargo, Vegas, Equifax, Northern, McLennan, Schlumberger, Haliburton

☆ 'It's easier than ever to make money in your spare time,' economists say: Inside the rise of the American side hustle
▼ + stars: | 2024-07-12 | by ( Megan Sauer | ) www.cnbc.com time to read: +5 min

Usually, after a financial crisis, people spend less money and fewer new businesses launch. Welcome to the age of the side hustle, where Americans are increasingly devoted to finding extra money to spend. Here's why so many people have side hustles right now, and why economists say they're probably here to stay. For roughly half of Americans with side hustles, the extra money isn't for fun: It's a necessity, driven by financial uncertainty. $250 per month is "by no means enough to live on, [but] it's a nice amount of money," Rossman says.

Persons: Z, Kayla Bruun, Ted Rossman, Bankrate, Rossman, Bruun, Shonnita Leslie, Leslie, millennials, Gen Zers, It's, it's, Taylor, Nich Tremper Organizations: CNBC, Student, DoorDash Locations: U.S, millennials, America, Texas

☆ Banks are threatening to end free checking. Don’t panic
▼ + stars: | 2024-07-12 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +5 min

The majority of people with checking accounts (73%) take advantage of the option, according to a 2023 Bankrate.com survey. But if regulatory costs go up for banks, free services like checking may go away, at least if they follow Chase’s lead. Marianne Lake, the head of Chase Bank, told the Wall Street Journal last week that Chase might stop offering free checking and other free banking services. “Consumer banking is predicated on banks providing services for free to consumers such as checking accounts, debit cards and electronic bill paying. Or, if those costs do rise, maybe some banks might decide for various reasons not to eliminate free checking.

Persons: Marianne Lake, Chase, Jaret, ”, Adam Rust, Rust, Bankrate, “, ” Rust Organizations: New, New York CNN, Chase Bank, Wall, Consumer, TD Securities, Consumer Financial Protection, Federal Reserve, Consumer Federation of America, Fed Locations: New York

☆ 5 states with the highest hidden homeownership costs — over $23,000 a year in property taxes, insurance, and maintenance
▼ + stars: | 2024-07-12 | by ( Christine Ji | ) www.businessinsider.com time to read: +1 min

On average, US homeowners pay $18,118 per year on hidden costs, according to Bankrate. Rising home prices and inflation have driven hidden costs up 26% in the last 4 years. These 5 states have the highest hidden homeownership costs. AdvertisementRapidly rising home prices and high mortgage rates already make buying a house hard enough in today's market. But consumers should be aware of yet another hurdle to homeownership: rising hidden costs.

Persons: — Organizations: Service, Business

☆ Our side hustles bring in $125,000 a year or more: 'Nearly everybody' can make money this way
▼ + stars: | 2024-07-10 | by ( Megan Sauer | ) www.cnbc.com time to read: +9 min

The McCauleys make their money by researching what makes side hustles profitable, testing them and teaching others how to do the same on YouTube. The Grand Rapids, Michigan-based couple earned nearly $140,000 from eight streams of income last year, according to documents reviewed by CNBC Make It. Ease of starting is at an all-time high: Platforms like Amazon, Airbnb and Fiverr offer instant access to paying customers. Kindergarten teacher Becky Powell's side hustle — making worksheets for other educators — brings in six figures per year. Her husband also sells worksheets on the platform, and they've used their combined earnings to fund vacations and pay down their mortgage and student loans, Powell says.

Persons: Jamie, Sarah McCauley, Sarah, Jamie McCauley, Bankrate, Jenny Woo, Woo, Jenny Woo Woo's, —, It's, Tim Riegel's, Riegel, Tim Riegel, Kathy Kristof, Kristof, Becky Powell, Jerome, worksheets, Powell, Becky Powell's, Becky Powell Powell's, they've Organizations: Walmart, YouTube, CNBC, University of California, Amazon, Kickstarter, Facebook Locations: YouTubers, Rapids , Michigan, Irvine, Lamar , Missouri, Beaverton , Oregon, Amazon

☆ Nearly half of Gen Zers get help from the bank of mom and dad, report finds
▼ + stars: | 2024-07-10 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

watch nowTo keep up with the high cost of living, many young adults turn to a likely safety net: their parents. "The high cost of living is certainly impacting Gen Z," said Holly O'Neill, president of retail banking at Bank of America. The financial institution polled more than 1,000 Gen Z adults in April and May. Even compared with millennials, Gen Zers are spending significantly more on necessities than young adults did a decade ago, other reports show. Fewer Americans feel financially comfortable overallBut it's not just Gen Z struggling.

Persons: Zers, —, Holly O'Neill, millennials, Gen Zers, homeownership, Brett House, O'Neill, Z, it's, Bankrate Organizations: Bank of America, New York Fed, Columbia Business School, Finance

☆ More Americans are struggling even as inflation cools — here’s why
▼ + stars: | 2024-07-09 | by ( Jessica Dickler | ) www.cnbc.com time to read: +2 min

Inflation is slowing down, but prices are still high — and likely to stay that way. However, even a broad pullback in price increases underscores another bitter reality: We're still paying more for many goods and services with little relief in sight. "Cooling inflation is not the same as a substantial reduction in prices," said Mark Hamrick, senior economic analyst at Bankrate. Here's what experts say I should doThis 'bucket strategy' could lower your taxes in retirementIndeed, the rate of price increases for food has subsided. Monthly "food at home" inflation has been near 0% for the past four months, according to the latest government inflation data.

Persons: That's, We're, Mark Hamrick Organizations: Finance, New York Locations: York

☆ Gen Z's Never-Ending Safety Net: Living With Mom and Dad
▼ + stars: | 2024-07-07 | by ( Eve Upton-Clark | ) www.businessinsider.com time to read: +13 min

Despite a strong job market, many Gen Zers are still relying on the bank of Mom and Dad to make ends meet. The young adult has their entire life ahead of them. Some parents might be more willing to provide financial support because they want to feel like a good parent. The young adult has their entire life ahead of them," Bailey said. When India Anderson turned 20 and decided to move in with her boyfriend, her mother cut off most financial support.

Persons: David Nuñez, freeloader —, Zers, Nuñez, frazzled, Nuñez's, Gen Zers, Monica Kirkpatrick Johnson, They're, Zillow, haven't, Kirkpatrick Johnson, Jeffrey Jensen Arnett, Jo Clark, Clark, I'm, Teresa Bailey, There's, Ali Lupo, Lupo, —, doesn't, Bailey, JP Krahel, Cody, Erika Archie, Cody Archie, Archie, Erika, there's, They've, India Anderson, Anderson, She's, Uber Organizations: Netflix, Pew Research Center, Pew, Washington State University, Clark University, Waddell & Associates, Urban Institute, Loyola University Maryland Locations: Tampa , Florida, America, Surrey, England, New York, Texas, Orlando

Social media has transformed the reason we take photos on vacation. According to the same survey, 74% of respondents feel some kind of pressure to imitate the travel content they consume online. This summer, a little more than half of Americans are planning to take a vacation, according to a Bankrate survey. Stretching your annual vacation budget to accommodate the resort everyone claims to love so much? Dial into vacation elements that are important to youWhen you're trying to budget and plan for your summer vacation, come up with your cost ceiling first.

Persons: Gen Zers Organizations: Forbes Locations: Caribbean, clouding, Vegas

☆ Gen Zers in a survey said they need $200,000 a year to feel financially secure — more than any other generation
▼ + stars: | 2024-07-01 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Americans think they need a whole lot more money than they're making to feel comfortable, according to a new survey. The latest survey from Bankrate, which polled 2,407 US adults from May 16 to 20, looks at how much Americans think they need to make to feel financially secure. According to the survey, Gen Z respondents said a $200,000 annual salary would ensure their financial security. Millennials said they'd need $199,000, and for Gen Xers and baby boomers, their financial security targets were at $183,000 and $171,000, respectively. To be sure, it's not all bad for Gen Z. TransUnion's latest Consumer Pulse Study found that Gen Z is "the most stable of any generation" in this year's second quarter, with 45% of them reporting wage increases over the past three months.

Persons: Gen, Millennials, Gen Xers, Gen Zers, Sarah Foster, Z, Zers, Michele Raneri, it's, They're, Charlie Wise, that's, Zer Organizations: Service, Business, Survey, Consumer Finances, Washington Post, Bureau of Labor Statistics, BI, Millennials, TransUnion Locations: Bankrate

The Amazon Prime Visa earns 5% back at Amazon and Whole Foods and offers 0% intro APR on select purchases. Earn an instant $200 by signing up for a new Amazon Prime Visa credit card by July 24. Cardholders with Amazon Prime membership earn 5% back on Amazon, Amazon Fresh, Whole Foods, and Chase Travel purchases, all without paying an annual fee. If you're an Amazon Prime member, your Prime Visa card benefits extend far beyond the initial bonus and 5% cash back. Cardholders without Amazon Prime membership earn 3% cash back on Amazon bonus categories: Amazon, Amazon Fresh, Whole Foods, and Chase Travel.

Persons: You'll, Chase, —, cardholders, you've, you'll, we've, Katherine Fan, Katherine, Guy, Nerdwallet, Fortune, Katherine moonlights, she's, She's Organizations: Amazon, Visa, Foods, Read, Chase Travel, Amazon.com, FDIC, Prime, Finance, Cards, CNN, Forbes, Wall, Dallas Morning News, Newsweek, Nasdaq, MSN, Yahoo, SXSW, Austin American, Statesman, University of Texas, National Taiwan University Locations: Austin, orcas, Antarctica, Japan, New Zealand, South Africa, Taiwan

☆ 28-year-old mom's teacher salary largely goes toward child care—the real costs of quitting to stay home with your kids
▼ + stars: | 2024-07-01 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +5 min

Like many families throughout the U.S., Amanda, 28, and Carlos, 36, are wrestling with the cost of child care. The couple keeps their finances separate, with Amanda covering child care while Carlos pays for other costs, like rent. The burden often falls on womenThe cost of external child care has risen by roughly 263% from 1990 to 2024, according to a KPMG analysis. But even when a family has the option to decide between paying for child care or having one parent stay home, there are more costs to consider. You might be sacrificing career growth by staying home, or you may be sacrificing some of your ability to build wealth by paying for child care.

Persons: Amanda, Carlos, Ramit Sethi, Rich, Sethi, Emily Green, Green, they've Organizations: KPMG, Pew Research, CNBC Locations: U.S, New York

☆ Gen Z and millennials are going into debt to travel this summer. Remote working may be partly to blame.
▼ + stars: | 2024-07-01 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +5 min

A Forbes Advisor survey of 1,000 Americans who plan to travel in 2024 showed the post-pandemic "revenge travel" boom is in full force, despite rising inflation. The stats weren't surprising to Thomas, who told BI that this new trend could be partly attributed to the rise of remote work. Revenge travel and other loansIt's not just remote and hybrid working that may have contributed to a rise in travel spending. Travel experts previously told BI they had noticed an uptick in clients opting for luxury air travel experiences, from private jets to first-class and premium-class plane tickets. Thomas and financial expert Julie Beckham told BI that young people are likely to be influenced by peers who are showcasing their travel experiences online.

Persons: —, millennials, Zers, Credit Karma, Johannes Thomas, Thomas, Ivan Saprov, Saprov, Oliver Bell, Julie Beckham, Beckham Organizations: Service, Forbes, Business, Credit, Bank of America, BI, KPMG US, Financial Education Development, Rockland Trust Locations: Rockland

Search resuls for: "Bankrate"

25 mentions found