Finance Globe Blog

U.S. financial and economic topics from several finance writers.

How to Prepare for the Next Recession

recession-chart
If you survived the Great Recession of 2008, then you know just how bad it can get. Companies layoff employees. Household income declines while unemployment and bankruptcies rises. The country and consumers experience financial hardship in a grand scale. A recession is happens when the economy declines six months in a row. It’s hard to predict exactly when a recession will hit or what will cause it, but knowing there’s a possibility means you should...
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How do you Know When it’s a Good Time to Purchase a House?

taking-on-mortgage-payments
A home purchase is a huge decision. There is a lot to factor in, and it may end up being the biggest financial purchase you make in your life. Below are a few indications that would let you know you might be ready to buy a home. 20% in Savings : Many people/websites have different opinions on this, but I recommend having at least 20% of your home purchase in savings you can use as...
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How the New Imposed Tariffs Will Impact your Wallet

usa-china-tariffs-trade
You have probably seen in the news lately, the discussions of proposed tariffs with many countries including China and Europe. While I will not discuss the political aspects of tariffs, I wanted to share a summary of what exactly a tariff is and how they could impact your wallet. A tariff is bascially a tax that the government places on imported goods. The tariff proceeds go to the government and a tariff is used to...
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Recent comment in this post
Frank
It seems like the media buzz has become quiet on this topic, anyone else notice this?
Wednesday, 29 August 2018 17:20
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What is Cryptocurrency?

crypto-currency
No matter where you turn to on the internet, you see articles and articles on Cryptocurrency. Even friends and family are likely pushing you to “invest” in cryptocurrency. However, given the incredibly fast rise of cryptocurrency, do many people even know what cryptocurrency really is? I decided to try to summarize what cryptocurrency is and offer you some additional high level details. What is Cryptocurrency? A cryptocurrency is a digital / virtual currency designed to...
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Recent Comments
Wanderer
Really appreciate your offering all this information in one place. For me it has been so scattered I could not understand. At leas... Read More
Wednesday, 28 February 2018 18:47
latoyairby
This is a great comprehensive introduction.
Wednesday, 28 February 2018 18:54
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How the New Tax Bill Affects You

president-trump-signs-tax-law
The new tax bill was signed by President Donald Trump on Friday, December 22, 2017. The tax bill will take affect starting in the 2018 tax year. The final bill is over 500 pages, and while the summary below is not fully exhaustive, below is some highlights of the major changes. It is recommended you speak with a tax expert on how the tax bill will ultimately affect you. Tax Brackets : The bill keeps...
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Wanderer
Great job on providing an overview of key elements contained in the 500 page Tax Bill. For me, it gets me thinking on how to postu... Read More
Friday, 19 January 2018 13:33
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Equifax Data Breach: What You Need to Know

identity-theft-breach-equifax
Equifax, one of the world’s largest suppliers of credit information and related services, recently announced a data breach that may have affected as many as 143 million consumers in the United States. The company went on to explain that “criminals exploited a U.S. website application vulnerability to gain access to certain files.” At this point, Equifax believes that the access occurred from the middle of May 2017 through July 2017. The information accessed by the...
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Citibank Ordered to Reimburse $700 Million to Cardholders

Citibank Ordered to Reimburse $700 Million to Cardholders
The federal government on Tuesday ordered Citibank and its subsidiaries to pay back consumers approximately $700 million harmed by the bank's illegal practices conducted from 2003 through 2012. The Consumer Financial Protection Bureau (CFPB) said that roughly 7 million of the bank's customers were affected by Citibank and its vendor's deceptive marketing, unfair billing practices, and administration of debt protection and credit monitoring services. Citibank's debt protection services "AccountCare," "Balance Protector," "Credit Protection," "Credit Protector," and...
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Banks Replacing Credit and Debit Cards After Target Data Breach

Millions of consumers who used a credit or debit card in Target during the data breach period – November 27 to December 15, 2013 – have received a replacement card in the mail sometime in the past several weeks. If you haven’t received a new card already, don’t be surprised if you open an envelope one day and discover you too have received a replacement card from your bank or credit card issuer. Why Are Banks...
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Federal Agencies Warn of New "Ransomware"

Federal agencies on Tuesday warned to consumers of a new computer malware that can take hold of personal files and literally hold them for ransom. The Federal Trade Commission and the Federal Bureau of Investigation said that the malware, “Cryptolocker,” encrypts your personal documents, photos, and other files. You can’t get it back unless you pay a fee of about $300 and the clock is ticking until it’s gone for good. And there’s no other way...
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Green Home Building on the Rise

Green home building is projected to continue to climb in the next few years as Americans increasingly search out energy-efficient and environmentally responsible homes, industry experts reported this week. McGraw Hill Construction reported that last year, the green home-building industry accounted for 23% of residential construction and is projected to grow to between 26% to 33% by 2016. This increase would more than double the value of the industry, growing from $36 billion in 2013 to...
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