Your Weekly Fisecal Vol 1

by | May 15, 2020

Happy Friday!

At Fisecal, we’re committed to keeping our clients updated on topics that could affect their financial health. So every week, we’ll hand-pick 7 personal finance articles that provide useful info and a fresh perspective. We hope these articles provide new insight into your money and inspire you along your financial journey. Without further ado, here are this week’s lucky 7 (and one more for fun):

1. Americans are saving like it’s the 1980s – CNN

“The savings rate in the United States climbed from 8% in February to 13.1% in March. That was the highest savings rate since November 1981. And given the disastrous economic news, the savings rate will likely go even higher when April statistics are released.”

2. What negative interest rates would mean for your wallet – CNBC

“For everyday Americans, negative interest rates would likely result in even lower mortgage rates and credit card rates, but nobody is going to pay you to take out a loan”

3. Can Millennials Count on Social Security In Financial Planning? – A Wealth of Common Sense

“There is a social security trust fund but it’s not like it sounds. It’s not like it’s completely gone by 2034. It will still be close to 80% covered by payroll taxes. They even estimated this out to 2094. A lot could change by then but payroll taxes are still estimated to be covering 73% of payouts.”

4. Simple Habits That Can Transform Your Personal Finances – Medium

“Simple habits that we’re all capable of developing can also transform finances over time. These habits have a small but significant impact, that really adds up in the long-term.”

5. Here’s What to Trim (and What Not to Touch) From Your Budget Right Now – NY Times

“In a time like this, particularly with increasing unemployment and increasing uncertainty, money in your pocket now is worth more than money in your pocket later.”

6. How a business credit card fits gig work – abc News

“If you drive a rideshare part time, regularly resell on eBay or book paid photography jobs on the side, you may qualify for a business credit card. You don’t need to have a storefront, employees or an LLC.”

7. In a culture shift, Americans are more open about their personal finance struggles – USA Today

“evidence suggests more people are seeking financial advice and talking about their plight more openly during the pandemic”

Bonus: 16 Dogs With Zero Sense Of Personal Space – Cuteness


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