Consumers are spending less. Some because they have less to spend. But others because, given the fragile, uncertain state of the economy, they feel compelled to save more. As a result, banks are being flooded with deposits. But guess what? Many don't want your money.
“People who simply want to save money — especially those who are older or those who cannot manage the complexities of a financial portfolio — continue to be caught in a bind. They either lose ground, because interest rate returns are low while food and energy costs are going up, or they have to consider [...]
The economic crisis has brought about a “new normal,” in which Americans are adjusting their expectations concerning work, investing, spending, and one’s “lifestyle.” The recession has also brought with it new words and phrases, like “new normal.”
What with the rates of interest-bearing accounts dropping to their lowest levels in more than half a century, it’s nearly as productive to shove your money under a mattress as it is to deposit it at a bank.
Some people are lucky enough to be wondering not how to get money, but what to do with a sum that’s landed somewhat surprisingly in their laps.
Simon Rothman, a former eBay executive, discusses his new venture called Glyde. It’s an online marketplace that aims to make life easy for buyers and sellers alike by automatically formatting listings and setting prices. Sellers don’t have to upload images, and they’re even given pre-stamped, pre-addressed packages, so that all they have to do is [...]
The biggest shopping day of the year is not only about snagging discounted toys and plasma HDTVs at the mall. Car dealers and online banks also want in on the action.
Thanks to the recession, people—people with jobs anyway—are paying off their credit cards and saving more. But no one seems to know where to put the money they’ve worked so hard to save.
Chief Savings Officer. Who knew that such a job title existed? Every household—and every government office, for that matter—should have one or more of these people, whose job it is to see that money is saved whenever possible, and spent efficiently when purchases are necessary.
