The tight labor market is prompting more employers to eliminate one of the biggest requirements for many higher-paying jobs: the need for a college degree.
Companies such as Alphabet Inc.’s Google, Delta Air Lines Inc. and International Business Machines Corp. have reduced educational requirements for certain positions and shifted hiring to focus more on skills and experience. Maryland this year cut college-degree requirements for many state jobs—leading to a surge in hiring—and incoming Pennsylvania Gov. Josh Shapiro campaigned on a similar initiative.
U.S. job postings requiring at least a bachelor’s degree were 41% in November, down ...
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Credit Card Balances Return to Pre-Pandemic Levels
Credit-card debt recently reached a new milestone - it has returned to where it was before the pandemic.
Total card balances in the U.S. hit $916 billion in September, nearly identical to December 2019 levels, according to the credit-reporting firm Equifax Inc. Balances are up 9% from January and about 23% higher than their pandemic low in April 2021.
Card balances fell sharply in the early months of the pandemic after Americans, out of work and stuck at home, cut back on spending. Stimulus checks later padded savings accounts and allowed many to pay down costly debt.
When the economy reopened and people went back to work, ...
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Money Issues Having an Impact on Mental Health
October 10th was World Mental Health Day, and the 2022 World Mental Health Day theme was, “Make mental health and wellbeing for all a global priority.”
Finances are a huge stressor for many, and if you want to make mental health a priority, alleviating some of the anxiety surrounding money management is a good place to start.
42% of US adults say money is negatively impacting their mental health, according to a recent survey from Bankrate and Psych Central. The survey polled 2,457 adults about how finances affect their mental state. Feeling stressed is the top response to finances, according to 70% of survey respondents.
Other ...
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Student Loan Crises Must Be Addressed Before It Gets Much Worse
While Wall Street and U.S. President Donald Trump tout news of a booming stock market and low unemployment, college students may be quick to roll their eyes. The improved economy has yet to mean higher wages for graduates already struggling to pay down massive debt, let alone ease the minds of students staring down the barrel of six-digit loan obligations yet to come.
Federal student loans are the only consumer debt segment with continuous cumulative growth since the Great Recession. As the cost of tuition and borrowing continue to rise, the result is a widening default crisis that even Fed Chairman Jerome Powell labeled as a cause for ...
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Start Off Right – 12 Financial Tips That Can Last A Lifetime
When you enter your 20s, you try to figure out life and (hopefully) learn from your mistakes. For many, it’s the first time they’re faced with dealing with finances completely on their own.
You may be taking out student loans or trying to pay them off. You’re learning to manage credit cards and pay your bills, and you’re entering the workforce. What you do with your money in your 20s -- your saving and spending habits, and the debt you incur -- will stay with you into your 30s and beyond.
Penny-pinching and living within a budget aren't fun, but it’s a whole lot better than finding yourself swimming in debt and stressed about money. If ...
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Five Bad Financial Habits That Are Signs of Trouble
Good financial habits don't just happen. Like washboard abs, most people have to work to develop them.
Racking up monthly charges on your credit cards without paying off the balance is a common bad financial habit. Not reviewing credit card statements is another.
But other, more subtle behaviors can be tipoffs to a disorganized financial life.
Getting caught with a late fee because you lost or forgot about a bill points to a too-loose approach to finances. Avoiding financial decisions because you don't know enough is another warning bell.
Sometimes an otherwise good financial decision – such as making extra mortgage payments – ...
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Decrease in Real Estate Inventory Now Driving Home Prices
While many people still think that the last housing crisis in the United States was largely due to banks offering too many subprime mortgages, it's now clear that wasn't actually the case. Instead, recent research pins the blame on house flippers and speculators, who pumped markets up, then defaulted in large numbers when they were unable to turn a profit on their investment properties.
Now, however, a different set of circumstances entirely looks poised cause a different type of housing crisis.
Since the real estate market crash took the wind out of the construction boom of the 2000s, fewer homes are being built per U.S. household than ...
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Job Polarization Forcing More Baby Boomers Out of Job Market
Men in their prime working years have left the labor force at an astonishing rate and they may never return if the state of the U.S. job market holds, according to a new report from the Federal Reserve Bank of Kansas City. This does not bode well for those approaching retirement and still carrying debt obligations. This may cause bankruptcy filings to spike in the 55-64 age group.
A decline in demand for middle-skilled work — a phenomenon dubbed “job polarization,” because more positions are concentrated at the higher and lower ends — has played a role in keeping prime-age men out of the job market an economist at the Kansas City Fed, ...
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Don’t Ignore Your Credit Report
It pays to be familiar with your credit report. The information it contains determines your credit score, your ability to access credit and loans, and even your chances of landing a job or signing a lease. It's a good idea to check your credit report on at least an annual basis. In certain scenarios, however, you should closely monitor your credit report no matter when you last checked it. Here are six times you need to check your credit report.
Debt Collectors are Calling
If you're getting calls from debt collectors regarding unpaid bills, you may need to do some damage control. Whether the debt in question is valid or not, it could ...
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Two Personal Finance Issues That Are Not Going Away in 2018
It's a new year and, unfortunately, many of us continue to grapple with financial issues that do not want to go away. Here are two to think about:
Not savings enough for retirement.
I have encountered countless clients who, although having worked for years, have accumulated little or no retirement savings. They have allowed debt to control their lives and have sacrificed savings opportunities in the process. This perspective must change.
Bankruptcy can be a first step toward achieving financial security. Did you know that retirement savings are fully protected from your creditors - even in bankruptcy? Whether you have one ...
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