Overwhelming evidence suggests social media has a negative effect on self-esteem. That’s not only true for how people feel about their appearance and social status, but also their financial well-being and economic standing. A new term, “money dysmorphia,” aims to describe the distorted view of one’s finances that nearly one-third, or 29%, of Americans say … Read more
Shoppers are seen in a Kroger supermarket in Atlanta on Oct. 14, 2022. Elijah Nouvelage | AFP | Getty Images Consumers continued to contend with higher inflation in February, according to new government data. The consumer price index — an inflation measure that tracks changes in the prices of consumer goods and services over time … Read more
Consumers have been increasingly relying on credit cards to make ends meet, and it may be finally catching up with them. The national average credit score, which has steadily increased over the last decade, fell to 717 from a high of 718 in the beginning of 2023, according to a report from FICO, developer of one of the … Read more
The author, Bola Sokunbi Credit: Bola Sokunbi When it comes to managing money, women commonly use the word “fear” to describe what stands between them and the life they want. But achieving financial success means stepping out of our comfort zone, said Bola Sokunbi, founder of Clever Girl Finance and author of “Choosing to Prosper” — … Read more
Eric Raptosh Photography | Tetra Images | Getty Images It is often said that without risk, there is no reward. It’s a maxim that poker and chess pro Jennifer Shahade, author of “Play Like a Champion,” knows well. “In poker, risk and calibrating risk is the name of the game,” Shahade said during the CNBC … Read more
There’s a wealth gap between women and men that has been stubbornly hard to shake. Gender pay gaps have persisted despite women’s increasing levels of education and representation in senior leadership positions at work. Women are still more likely to take time out of the labor force or reduce the number of hours worked because of caretaking responsibilities, often referred … Read more
Marlon and his dog, George. Courtesy: Since 1988, Marlon Fox has been paying down his federal student debt. He didn’t see an end in sight. Then, on Aug. 25, 2023, an email popped up in his inbox with the subject line: “Your student loans have been forgiven!” His $119,500 balance was reset to zero. “I … Read more
Olga Rolenko | Moment | Getty Images The nation’s largest credit card companies typically charge higher interest rates than small banks and credit unions â and switching may save the average cardholder hundreds of dollars a year, according to an analysis issued Friday by the Consumer Financial Protection Bureau. However, some consumers, depending on their … Read more
Anna Bizon | Gallo Images Roots Rf Collection | Getty Images President Joe Biden took to social media ahead of the Super Bowl on Sunday to take a jab at snack companies that are giving consumers less food for their money. The phenomenon called shrinkflation — where consumer products become smaller in quantity, size or … Read more
Credit cards are an Achilles’ heel for many people. Collectively, Americans now owe $1.13 trillion on their cards, and the average balance per consumer is up to $6,360, both historic highs. Not only are more cardholders carrying debt from month to month but more are increasingly falling behind on payments, recent reports show. “Even though dealing with $1 … Read more
