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☆ 2 millennials who have bought a combined 22 properties with friends and family explain how they got into real estate without waiting on a spouse
▼ + stars: | 2023-08-29 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Two millennials who bought homes with friends say "houses before spouses" is the way to go. They bought a beach house, lake home, and ranch house with friends, which they use for vacations. Since then Modares has purchased eight properties with friends and family that have variously served as rental properties and primary residences. Modares and Douglass run a "buying with friends" minicourse to encourage clients to explore less-conventional real-estate partnerships. AdvertisementAdvertisementThe critical part of homebuying with friends, they said, is the operating agreement, which outlines the terms and conditions of a real-estate partnership.

Persons: Kristina Modares, didn't, Modares, Steph Douglass, Douglass, minicourse, they're, homebuying Douglass, Austin's, She's, they've, that's, she'd, she's, — Douglass, they'd Organizations: Service, Open House Austin, Nationwide Locations: Wall, Silicon, San Antonio, Austin, Florida, homebuying, Airbnb

☆ A millennial quit a job he loved rather than return to the office. Now he's making more money and working for bosses that don't suffer from 'productivity paranoia.'
▼ + stars: | 2023-08-24 | by ( Juliana Kaplan | Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

The great remote work debateAs part of the war over remote work, employers and employees alike have debated whether or not a mandatory return-to-office policy actually works. With two kids at home, the flexibility of remote work — coupled with no commute — was a boon. The firms that are succeeding at remote work have saved money from giving up office leases and are making their employees feel happier along the way. "You're still in meetings, you're still engaged, but you're not under the thumb of somebody — not treated like a child." Have you quit over remote work, or are contemplating it?

Persons: Timothy Done, I've, you've, Sam Eitzen, Nicholas Bloom, Bloom, It's, Done, it's Organizations: Service, Workers, Stanford University, Federal Reserve Bank of New, Manufacturing Survey, Business, Survey, Microsoft, jkaplan Locations: Wall, Silicon, Egypt, Denver, Utah, It's, micromanagement

☆ For Gen Z, financial security isn't enough to feel wealthy
▼ + stars: | 2023-08-18 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

A new survey shows having "a better quality of life" makes more Gen Zers feel wealthy than financial security. In contrast, 61% of baby boomers said feeling "wealthy" means having financial security, followed by having good health at 33%. That's not to say financial security isn't important to Gen Zers. According to Credit Karma data shared with Insider, the average Gen Z credit card balance is up 45% since March 2022. All this is to say Gen Zers may be looking to invest in vacations with friends to feel wealthy instead of saving up every dollar to feel financially secure.

Persons: Zers, Gen Zers, Gen, —, Schwab, That's, Gen Z, Z, they're, Zer Organizations: Service, US Bank, Boomers Locations: Wall, Silicon

☆ A business owner ditching the office explains how he came to trust his employees to work remotely so he could save money on rent
▼ + stars: | 2023-08-12 | by ( Noah Sheidlower | Juliana Kaplan | ) www.businessinsider.com time to read: +8 min

The remote work debate is still raging, as firms try to get their workers back into the office. But one business owner says trusting workers to create their own best work arrangement is the best option. "There's the whole saying about working from home, 'shirking from home,' or working remotely, 'remotely working,'" Bloom said. That's why Eitzen is making remote work permanent. Are you a boss or worker trying to figure out how to keep remote work functional?

Persons: Sam Eitzen, Eitzen, I'm, you've, There's, they'd, Simon Fraser, Lucy Gilson, Nicholas Bloom, haven't, Bloom, that's, Chris Bailey, who's, Bailey, he's, It's Organizations: Service, Employers, Deloitte, Pepperdine University , University of New, Simon, Simon Fraser University, University of Calgary, Paul College of Business, University of New, Stanford University, Workers, jkaplan Locations: Wall, Silicon, Seattle, Pepperdine University , University of New Hampshire, University of New Hampshire, Spain, Italy

Americans held over $1 trillion in credit card debt in the second quarter of 2023, a new record. The rise in credit card debt helped push total household debt to a record-high $17.06 trillion. For the last seven quarters, credit card balances have grown year over year amid strong consumer spending despite high prices. Despite these record-high credit card balances, there are some silver linings. Are you dealing with an untenable amount of credit card debt, or worried about student loan payments restarting?

Persons: Bankrate, Courtney Alev, Alev, Donald Trump, Joe Biden, Biden, Ted Rossman, Rossman Organizations: Federal Reserve Bank of New, Service, Privacy, New York Fed, Credit Karma, Fed, Consumer Financial, Bureau, Education Department, New, jkaplan Locations: Federal Reserve Bank of New York, Wall, Silicon, It's, York

☆ Struggling to hire? Just one day of remote work a week could make a big difference.
▼ + stars: | 2023-08-08 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

The analysis found that the fully remote companies in the study had head-count growth rates over double those of fully in-person companies. The findings were released against a backdrop of many major companies requiring employees to return to the office full time. This push may lead thousands of Americans to look for work at more flexible companies to avoid expensive commutes and childcare. The study found the average company requiring in-office work asked staff to come in just over 2.5 days a week. Over the 12-month period, fully flexible and structured-hybrid companies grew their workforce by more than double the rate of full-time in-office companies.

Persons: Goldman Sachs, Nicholas Bloom Organizations: Service, Scoop Technologies, Data Labs, JPMorgan, Apple, Society for Human Resource Management, Stanford, Disney, Company Locations: Wall, Silicon

☆ How the heat wave is hurting your productivity at work
▼ + stars: | 2023-08-02 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

There are no federal regulations that protect workers in extreme heat, contributing to losses in productivity. "There's of course the worst case, the risk of death, but there is the risk of injury with the rise in temperature and reduced work hours. How much heat impacts productivityPlenty of studies show that extreme heat can crush economic activity across a variety of sectors. Long-term exposure to extreme heat, the authors write, causes inflammation and cardiovascular pressure. Workers in high-exposure industries worked about an hour less when the temperature was above 85 degrees Fahrenheit compared to the 76-80 degrees Fahrenheit range.

Persons: Algernon Austin, Biometeorology, Austin Organizations: Service, Bureau of Labor Statistics, Center for Economic, Policy Research, Economics, Workers, International Locations: Wall, Silicon, New Orleans, Nashville, California

☆ Texans are staying inside during record heat — and the state's economy could take a $9.5 billion hit from reduced business
▼ + stars: | 2023-07-29 | by ( Eliza Relman | Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

In Texas, that could mean a $9.5 billion hit to the state's GDP if the extreme heat continues. As extreme heat grips much of the US this summer and the Earth records its hottest month on record, people are staying inside. Pardue told Insider he was surprised at the magnitude of the decline in hours worked as a result of extreme heat. "And then we're seeing, long term, this opposite shift, where during the summer, there's all this extreme heat." Are you staying home or working fewer hours because of extreme heat?

Persons: —, Luke Pardue, Pardue, we've, Ray Perryman, Jonathan Horowitz, Andreas Flouris Organizations: Service, Workers, Wall Street, Buffalo Bayou Brewing, Nationwide, The National Energy Assistance, Association, Research, University of Thessaly, New York Times, Nature Conservancy, Phoenix, Louisiana Department of Health, erelman Locations: Texas, Houston, Greece, Arizona, New Orleans

☆ Americans got used to spending big during the pandemic. Now they're running out of money and racking up record credit card debt.
▼ + stars: | 2023-07-26 | by ( Juliana Kaplan | Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

Credit card debt has reached record highs after years of pandemic-era spending. Americans now hold a record level of credit card debt, according to recent data from the Federal Reserve. Credit card debt saw a big dip after the pandemic's onset and stayed low in the post-vaccine months, fueled by stimulus payments and enhanced employment benefits. Gen Z credit card debt rose 4.2% to levels exceeding $3,300 on average, while millennials increased their credit card debt by 2.5% to an average of nearly $7,000. Consumer confidence levels are at two-year highs, but paying off credit card debt remains a continued stressor.

Persons: Gen Z, Gen, Aaron Terrazas Organizations: Service, Privacy, Federal Reserve, Federal, Karma, Consumer Financial Protection Bureau, Fed, jkaplan Locations: Wall, Silicon

☆ Parents are curbing back-to-school spending for the first time in a decade as inflation bites
▼ + stars: | 2023-07-13 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

Parents are planning to spend less on back-to-school clothing and technology this year. Spending intentions on school supplies increased year-over-year, though parents have been searching for deals and discounts. New data from Deloitte's "Back-to-School Survey" revealed back-to-school spending for students between kindergarten and twelfth grade is expected to drop 10% for this upcoming school year, with major cuts to apparel and technology. Even as inflation comes down, parents' wallets are still hurting, leading many families to cut spending on non-essential items. Have you had to adjust your back-to-school spending this year?

Persons: Nick Handrinos, they'd, Handrinos, It's Organizations: Service, Survey, Deloitte, Consumer, Shoppers Locations: Wall, Silicon

☆ US factories are booming, but finding workers is still a struggle
▼ + stars: | 2023-07-11 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

Despite that huge jump in manufacturing construction, employment in the sector has been stagnant over the last year, suggesting filling the new factories with workers could be difficult. Notably, other advanced economies have not experienced such surges in manufacturing construction, according to the Treasury Department. Since President Joe Biden took office, around 800,000 manufacturing jobs were added, or a 6.5% growth rate. This year has seen manufacturing employment remain especially stagnant, growing by just around 4,000 employees since January. Though many of the 1.4 million manufacturing jobs lost at the beginning of the pandemic have been recovered, many economists are worried all these new factories across the country could struggle to find enough workers.

Persons: hasn't, Joe Biden, Tony Schmitz, Kendra Blacksher, industrials Organizations: Service, Census, Infrastructure Investment, Jobs, Treasury Department, Manufacturing, National Association of Manufacturers, . Manufacturers, Fortune , University of Tennessee, The American Society of Mechanical Engineers, Bloomberg, RSM Locations: Wall, Silicon, China, Tennessee, American

☆ Pregnant workers could receive longer breaks and more time off for recovery, thanks to a new law going into effect today
▼ + stars: | 2023-06-27 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +4 min

The Pregnant Workers Fairness Act could provide pregnant workers with longer breaks and more time off. The act, requiring certain employers to provide "reasonable accommodations" went into effect Tuesday. The Pregnant Workers Fairness Act requires employers with at least 15 employees to provide "reasonable accommodations" for workers dealing with limitations related to pregnancy, childbirth, or related medical conditions. 80% of first-time pregnant workers worked until their final month of pregnancy. The Pregnant Workers Fairness Act was signed into law by President Joe Biden in December following unsuccessful earlier versions in 2021 and 2019, both of which passed in the House but not the Senate.

Persons: —, Dina Bakst, Joe Biden Organizations: Service, Employment Opportunity Commission, National Partnership for Women

☆ The average emergency expense is now $1,700. Millions of Americans can't pay that without dipping into savings or racking up debt.
▼ + stars: | 2023-06-26 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +7 min

Americans living paycheck to paycheck are postponing these payments or using credit cards to pay them off. Still, despite a drop in the number of Americans living paycheck to paycheck, rising emergency expenses have posed challenges for millions of Americans, even those with much more saved up. Bankrate's 2023 annual emergency savings report published last week found only 48% of adults say they have enough emergency savings for three months of expenses, which has changed little from 2022 during peak inflation while 22% have no emergency savings whatsoever. One-third of the survey's respondents were "very uncomfortable" with their current emergency savings, while another 24% were "somewhat uncomfortable." This data comes amid a declining number of Americans living paycheck to paycheck, per the PYMNTS report.

Persons: —, PYMNTS, millennials Organizations: Service Locations: U.S

☆ How 2 Gen X moms are grappling with food stamp cuts, surviving off $23 in monthly benefits and struggling to pay bills
▼ + stars: | 2023-06-25 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +6 min

Cuts have made it difficult for these Gen X moms to put food on the table or pay their bills. In mid-May, her Supplemental Nutrition Assistance Program, or SNAP, benefits check dropped from $516 to just $23. Starting in March, millions of Americans receiving SNAP benefits lost hundreds of dollars from their grocery budgets as the pandemic-era food stamps expansion ended. To supplement her sudden drop in benefits, she's gotten food from local food pantries, though they rarely had meats, gave out expired breads, and mostly had canned foods. Do you rely on SNAP benefits and are affected by these changes?

Persons: —, Venus Barnes, She's, she's, everybody's, Barnes, Joe Biden, Kevin McCarthy, — Barnes, I've, I'm, Khiana Organizations: SNAP, Service, Collins Aerospace, Assistance, Social, Food Research, Action, Security, Insurance Locations: North Carolina, Maryland

☆ It was a great week for the economy
▼ + stars: | 2023-06-17 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +8 min

New retail sales numbers, inflation, and a pause in rate hikes point to a strong week in the economy. All of this good news contributes to an economy that gave the Federal Reserve the confidence to skip its string of interest rate hikes this month. Interest rates skip hike as economy continues growingThe Federal Open Market Committee (FOMC) held interest rates steady at its Wednesday meeting, putting a pause on the Fed's 10 consecutive increases in 15 months. It all means Americans feel confident the economy is headed in the right directionAmericans are feeling better about the economy as well. Overall, this week's data shows the US economy is still going strong, even amid concerns over potential interest rate hikes later this year.

Persons: —, That's, Price, Jerome Powell Organizations: Service, Federal Reserve, Commerce Department, Consumers, AAA, Labor Department, CPI, of Economic Advisers, of Labor Statistics, The Labor Department, Market, Fed, University of, Federal Reserve Bank of New, Federal Reserve Bank Locations: –, New York, Federal Reserve Bank of New York

☆ The debt ceiling deal could lead to 750,000 older Americans losing SNAP benefits
▼ + stars: | 2023-06-07 | by ( Noah Sheidlower | ) www.businessinsider.com time to read: +5 min

The debt ceiling deal could lead nearly 750,000 adults to lose their Supplemental Nutrition Assistance Program, or SNAP, benefits. SNAP benefits, or food stamps, give monthly funds to low-income individuals and families for food purchases. CBPP noted that high denial rates and long wait times for receipt of disability benefits has made accessing SNAP benefits increasingly difficult. CBPP research noted that the existing work-reporting requirement does not increase employment or earnings but do lead thousands to lose their food benefits. Are you an older American who relies on SNAP benefits and who could be affected by this change?

Persons: —, CBPP, Kevin McCarthy, Joe Biden, Cori Bush, Ed Bolen Organizations: Assistance, SNAP, Service, Budget, Congressional, Office, Democratic, CNBC, American Economic Association Locations: Missouri

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