When we talk about trillions of dollars, it’s hard to imagine exactly how that stacks up. Well, check out a visual rendition at
http://usdebt.kleptocracy.us/
Hard to Imagine U.S. Debt? Here’s a Picture
August 2, 2011
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Are Entrepreneurs Adding Jobs in Your Town?
June 7, 2011Entrepreneurs are an optimistic bunch.
A recent study by the Kauffman Foundation reveals that about 3 million jobs are created annually by start-up businesses. They might be part-time and they might not be located in a fancy building, but nevertheless, these jobs count.
I’ve heard some say that more businesses begin during a recession when people lose their jobs. Yet research shows the self employment rate is fairly steady through economic ups and downs.
According to the Center for Rural Entrepreneurship, the rate of growth for entrepreneurship has been slightly higher in rural areas than urban areas. Who’s adding workers where you live?
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Fed’s First-Ever Press Conference Is A Signal?
April 27, 2011The Federal Reserve is always in the news these days–but typically after the fact. That is, after a Fed decision is made.
Today, the Fed made history and held its first-ever press conference, with Fed chairman Ben Bernanke answering reporters’ questions on inflation, QE2 and such. Why this new effort of transparency? Perhaps the Fed is worried that high unemployment, high oil prices and the high rate of foreclosures is too much for our economy to handle.
What did we learn from today’s press conference?
Fed funds rate will stay unchanged, and the Fed raised inflation projections and lowered GDP projections. While inflation expectations could put the Fed behind the curve, the Fed is starting to look toward its exit strategy in regard to QE2. Bernanke did reaffirm his plan to end QE2 n June. QE2 hasn’t caused inflation, but it does appear if the Fed moves to QE3, inflation might rear its ugly head. However “to get lots of job growth, we have to keep inflation under control,” Bernanke reiterated.
He did make some clear statements that sent signals which experts such as Charles Calomiris, professor at Columbia, saw as encouraging:
-Controlling inflation is very important;
-The tradeoff between inflation and unemployment is disappearing;
-Long term unemployment is not within the scope of monetary policy, and the Fed isn’t going to tighten just yet.
How did the markets react? Gold prices rose, commodities soared, and stocks went up too. Will this happen with every succeeding Fed press conference? Unlikely. But the Fed has 8 chances to decide to raise/lower interest rates this year, so we shall see.
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Check This Article by Ric Edelman
March 26, 2011Did you make any changes in your money habits because of the Great Recession? Many of us made improvements. Check out this article by financial advisor Ric Edelman to compare your changes with those in a survey by KRC Research.
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Iowans Are On Top of Financial Education Pile
March 20, 2011Iowa’s citizens might outperform those in other states when it comes to financial literacy, but a majority still live paycheck to paycheck, don’t comparison shop for credit cards, and lack savings for emergencies.
A study conducted last year by the FINRA Investor Education Foundation shows that in Iowa:
* 53% live paycheck to paycheck, compared to 55% nationally,
* 61% do not have a rainy day fund, compared to 60% nationally,
* 25% have sought high-cost, non-bank borrowing (payday loan, advance on tax refund), compared to 24% nationally,
64% did not comparison shop for credit cards, compared to 62 % nationally.
“This study highlights how important improving financial education is for Americans, especially during times of financial insecurity,” said FINRA Foundation Chairman Richard Ketchum. “While the current economic conditions can exacerbate the consequences of poor financial decisions, some states are still well ahead of others.”
To see findings from other states, check here .
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Iowans Working to Be Money Smart
March 9, 2011This month, I’ll been traveling across the state for Money Smart Week. We will have some great events going on this year, thanks to enthusiastic organizers.
There’s something for everyone…
• We have two contests for kids–a poster contest for grades 2-6 and an essay contest for grades 6-8. And, we’ll take “Ben Franklin” into elementary schools to tell why “a penny saved is a penny earned.”
•We are hosting the “Great Piggy Bank Savers” pageant at several banks and credit unions. To learn more, check out www.EveryoneCanSave.org.
• We’ll have two statewide conferences focused on saving and investing skills. The conferences are a great venue to get unbiased knowledge about stocks, real estate, annuities, on-line investing tools, and more. Teachers can even earn one credit for coming. Check it out at www.WomenandMoneyConference.com.
• We also have shredding events, lunch-and-learn seminars, and a night for scouts to earn their finance badges. Our 140+ workshops will cover many topics: home buying, credit scores, paying for college, retirement planning and 401ks, insurance, investing and more. See them all at www.moneysmartweek.org.
• We even has displays telling the story of shredded money and the Federal Reserve. Check it out at the Iowa Historical Museum in Des Moines, Betterndorf Family Museum, and the children’s museum in Iowa City, along with locations in Council Bluffs, Harlan, Cedar Falls, and Waterloo.
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Credit Is Hard to Get?
March 6, 2011One look in the mailbox, and you might wonder why credit is still hard to get.
Are you seeing a flood of solicitations to get a new card? You aren’t alone. According to www.LowCards.com, banks have mailed out three times as many solicitations to open new accounts, up significantly from the previous year. If you’ve been a good credit card customer, you are likely to see more solicitations for new cards. If you aren’t? Well, you might have to search for new card offers a little more.
As always, read the fine print and understand the fees when you apply for a new credit card. This could be a good time to transfer a balance to a card with a lower interest rate, but you need to know the rules with the new card. You can find some good information about comparing credit cards costs at www.federalreserve.gov/creditcard.
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Learn to Be a Better Investor
February 27, 2011Money Smart Week brings more than 150 events to Iowa, and one is the Money Smart Investor Conference on Saturday April 2.
You can heard a money therapist, go to breakout sessions, have continental breakfast and maybe win one of the many door prizes–custom purses and piggy banks. It’s a free event…and no sales pitches, just education. There will be expert speakers on stocks, investing in real estate, credit scores, annuities, and the economy.
Register at www.WomenandMoneyConference.com. See you there!
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We Haven’t Stopped Spending
February 25, 2011The National Retail Federation released a study this week showing that 13.2% of Americans will spend their tax refund on big ticket items such as televisions and furniture, up 12.5% from last year.
And, more Americans-42%-will also save part of their refunds this year, compared to 40% in 2010.
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I’m a Central Iowa Saver. Are you?
February 18, 2011February 20-27 is Central Iowa Saves week.
It’s all about helping Iowans recognize how important it is to start saving, no matter how small the amount. You know, we all have good intentions, but sometimes we just don’t get around to saving. There are always so many other things to do with that money.
When was the last time you stashed some of your paycheck into savings? What’s holding you back?
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