Archive for September, 2014

Most Non-Traditional Families Don't Seek Financial Advice

Posted on September 29, 2014 by Saldutti

Modern American families are experiencing financial pressures, yet relatively few seek professional assistance that could help relieve the stress, according to a new study. This presents financial professionals who delve into the unique dynamics of nontraditional families with an opportunity to engage with a growing population that is underserved but often open to assistance. The new Allianz LoveFamilyMoney study identified modern family types as same-sex couples, single-parent households, those with adult children returning home, multigenerational families, blended families and families with older parents and young children. Survey participants were between 35 and 65 years old, with household incomes of at…

'Til Debt Do Us Part: Average Wedding Cost Rises

Posted on September 26, 2014 by Saldutti

According to a spring TheKnot.com study, the average wedding cost today is $29,858, not including the honeymoon. Couples typically spend between $18,900 and $31,500 but, many couples spend less than $10,000. The Real Weddings Study, which surveyed 13,000 US brides and grooms married in 2013, captures detailed wedding information on the average costs, number of guests, style trends and other key statistics. Growing Budgets – Couples are spending more on their weddings than ever. Following the trend of growing budgets for the past two years, wedding budgets are at an all-time high with the average wedding cost hitting $29,858.  Less…

72% of Americans Say the Recession is Still On

Posted on September 25, 2014 by Saldutti

Americans have a bleak outlook about both the nation’s financial health and their own, according to the 2014 American Values Survey released by the Public Religion Research Institute. The Ford Foundation-funded study revealed nearly three out of every four Americans (72%) believe the recession is still on.  This really doesn’t come as much of a surprise – given the lasting effect the recession has had on long-term unemployment. Fewer than one out of 10 Americans (7%) say they are in excellent financial health themselves. About a third of the people in the survey said they or someone else in their…

DC Boasts Highest Median Household Income

Posted on September 24, 2014 by Saldutti

Income levels were not statistically different for most states from 2012 to 2013, according to statistics released from the U.S. Census Bureau’s American Community Survey, the nation’s most comprehensive data source on American households.  The state and local income statistics in the American Community Survey complement the national-level statistics released from the Current Population Survey and American Community Survey. The release provides statistics for all metropolitan areas and places with a population of 65,000 or more. “The American Community Survey is our country’s only source of small area estimates for social and demographic characteristics,” Census Bureau Director John H. Thompson…

Long-Term Unemployment Lingers Long After Recession

Posted on September 23, 2014 by Saldutti

Of those who sustained the worst blows from the Great Recession, few have healed, according to a Rutgers University study released this week.  Federal figures indicate a recovery: Last year, about 38% of the nation’s jobless had been unemployed for 27 weeks or more, which this year dropped to 28%. But the Rutgers study revealed that long-term jobless workers have made long and fruitless job searches, salary concessions in newly accepted positions and serious lifestyle adjustments. The study was part of a series of research examining the views of Americans about work, the economy and government. It was a nationally…

Save $1,000 by the End of the Year

Posted on September 22, 2014 by Saldutti

Saving is about discipline – and the best way to save is to start small and be consistent. You’ll be surprised how quickly you can save $1,000 by the end of the year by reducing or eliminating some expenses for three months and stashing that money away. These 10 savings steps from CNBC will hardly inhibit your current lifestyle and, if practiced, will provide you with some extra money as you head into 2015. Save your loose change – Putting aside fifty cents a day over the course of a year will allow you to save nearly 40% of a…

Is Owning Overrated? The Rental Economy Rises

Posted on September 19, 2014 by Saldutti

Things that you can now rent instead of buying: a power drill, a song, a tent, an office for an hour, a Prada handbag, a wedding dress, a painting, your neighbor’s car. This new way of consuming – call it the Netflix economy – is being built by web start-ups that either rent items themselves or serve as middlemen, connecting people who want something with people who own it. They are a growing corner of the broader sharing economy, in which people rent out rooms in their homes on Airbnb or drive people in their cars with Uber or Lyft….

Caregiving Costs Affect Finances, Employment & Retirement

Posted on September 18, 2014 by Saldutti

More and more Americans are caregiving for loved ones, with 42% of working adults reporting they’ve provided unpaid care for an older family member within the past five years.  Almost half, or 46%, of family caregivers spend more than $5,000 per year on caregiving expenses, according to a new survey by Caring.com. The website defines family caregivers as people who take care of a family member or friend, but are unpaid for their services. Their caregiving expenses include out-of-pocket costs for medications, medical bills, in-home care, nursing homes and more. According to Caring.com, of the 46% of family caregivers that…

What Does it Cost to Be a Tourist?

Posted on September 17, 2014 by Saldutti

Hotels, Big Macs and Starbucks coffee – these are a few of the mainstays all tourists can depend on. When traveling to popular U.S. cities like Los Angeles, Miami and New York, prices for things like fast food and movie tickets tend to vary. Some people swear that a Starbucks drink in one city costs way more in another city – but is that true? To a certain extent, popular items do tend to cost more, depending on where you are. Want to watch Guardians of the Galaxy in 3D on a whim? That’ll cost about $19 in Los Angeles,…