May 10 2015

34 percent of Americans financially carry the country: Those not in the labor force hits another record at 93,194,000.

The unemployment rate is calculated by those in what is deemed the labor force.  With the unemployment rate dropping you would think that somehow, we’d be back in a glorious economy where everyone was financially moving up.  That is definitely not the case.  Every single day we have 11,000 Americans hitting 65 years of age and many are approaching retirement with the “work until I die” mentality because they are financially ill prepared.  We also have a gargantuan number of Americans not in the labor force.  These are people able to work but are simply not doing so for a variety of reasons.  Many of the reasons are legitimate like old age, college, or a disability but millions are on here that should be counted in the unemployment rate.  While the market was cheering the unemployment rate dropping to a level that takes us back to pre-recession levels, we now somehow have a record number of Americans not in the labor force.  The number is downright shocking.

Read More

May 7 2015

Low wage America: People think minimum wage is for young workers but the average age of someone on minimum wage is 36. Half of Congress is made up of millionaires.

People have a hard time understanding the vast number of Americans working in low wage jobs.  There is a very real reason why dollar stores paint the heartland.  We also have 46 million Americans on food stamps.  One of the big issues that we will certainly hear about during this campaign season is the erosion of the middle class.  Even though the stock market is hovering near all-time peaks, the regular worker is feeling like the economy is pulling past them.  Since the recession officially ended in the summer of 2009, a large portion of the jobs added came in the form of lower wage segments of the economy.  There is now talk about boosting the minimum wage.  I think most people think that minimum wage only impacts teenagers trying to pocket some money for going to the movies on the weekend.  That is absolutely not true as the figures will highlight.

Read More

May 3 2015

The death of the American pension: How older Americans are entering their golden years with a lack of retirement savings.

Listen carefully to the sales pitch from Wall Street.  In the late 1970s and the early 1980s there was a push to get Americans away from pension plans and into 401k style retirement plans.  The notion was that Americans would save enough on their own and would have the financial wherewithal to play in the Wall Street finance game.  Well here we are a generation later and for most Americans, the self-directed retirement experiment has been an abject failure.  We have now learned about a litany of mutual funds that have charged high expense ratios that basically ate into a good chunk of savings.  The ETF and index fund world is new for many since it isn’t heavily marketed.  And these are the options for the savvy people that actually dive in.  Pension plans used to be commonplace.  Now, they are rare and are headed to extinction.  For most elderly Americans, the number one source of income is coming from Social Security.  What happened to the pension plans of America?

Read More

Apr 28 2015

What are the top 10 financial worries of Americans? Two of the most common themes include paying for children’s college and saving enough for retirement.

Financial worries are a big concern for many American families.  In spite of a booming stock market and a resurgent real estate market, most Americans don’t seem to be feeling financially better.  A large reason is that many Americans did not partake in the rise in the investor driven real estate boom and also, many Americans own very little to no stocks at all.  Is it their fault?  For some, yes.  But for many the growing low wage economy simply leaves little left to save after paying for daily expenses.  Having enough for retirement is becoming a growing issue since 10,000 Americans per day are hitting retirement age.  Are they fully retiring in the traditional sense?  No because many will have to work deep into old age.  Many retirees are fully reliant on Social Security as their main source of income.  With this as the backdrop it is no surprise that the big political theme for 2016 is going to revolve on financial and economic inequality.  Gallup conducted a survey and asked different subgroups of Americans what their biggest financial worries were at the moment.  Let us look at the data.

Read More

Apr 24 2015

Two-thirds of Americans don’t understand how credit cards work: The debt addiction in your pocket.

There is something alluring about swiping a card and making a purchase.  It almost seems euphoric and fun.  Credit cards come in a variety of sleek designs to help you part with your current and future income.  Americans are deeply in debt.  Mortgages, student loans, auto debt, and credit cards consume a large portion of future income.  You would think that most people would reflect on the mechanics of how debt works but this is not the case.  Most people are oblivious to how credit cards work but continue to use them and go into deep debt.  Throw in online shopping and you can store your credit information virtually and shop with one-click.  This wouldn’t be such a problem if incomes were moving ahead.  Unfortunately that is not the case and many are struggling to find their economic balance in the new low wage economy.  Credit card debt is once again on the rise and two-thirds of Americans do not understand how credit cards work.

Read More

Apr 20 2015

Student debt now makes up nearly half of federally owned financial assets. The student debt bubble edges on with many more unable to pay their debt.

The student debt epidemic is spiraling out of control and the public is becoming more aware of the situation.  $1.3 trillion in student debt is now outstanding.  This is already a problem with nearly one out of three loans in repayment already in some form of delinquency.  Clearly if you are not paying back an obligation there is some sort of underlying problem.  But like most of the epic debt bubbles, people are slowly coming to the realization that most of this debt will never be paid back.  Consider it a forever loan.  The problem with this mentality is that student loans are now becoming a giant part of federal assets.  In fact student debt now makes up nearly half of federally owned financial assets.  Again, I remind you that nearly one out of three loans in repayment is in some form of delinquency.

Read More

Apr 16 2015

1 out of 4 college adjunct faculty collecting government assistance: Students in debt and professors barely getting by all the while tuition soars.

The student debt crisis continues to move across the nation’s landscape like an unrelenting storm.  The stories of economic pain are growing involving students but what about adjunct professors?  For those of you that are unfamiliar, adjunct professors are like contract teachers at many colleges.  Many carry a heavy teaching load but receive very little job security.  At many for-profits, more money is spent on marketing than actual instruction which begs the question as to where the money is flowing.  It certainly isn’t on career services to help students given the abysmal results.  Adjunct faculty as it turns out, are now part of the new low wage America.  A recent study found that a whopping 25% of college adjunct faculty are receiving some form of government assistance.  This isn’t someone working a part-time job making pizza.  No, these are people teaching your young college kids economics and science.

Read More

Page 3 of 13212345...102030...Last »




Enter your email address to receive updates from My Budget 360:

100% Private & Spam Free.


Popular – All Time

  • 1. How much does the Average American Make? Breaking Down the U.S. Household Income Numbers.

  • 2. Top 1 Percent Control 42 Percent of Financial Wealth in the U.S. – How Average Americans are Lured into Debt Servitude by Promises of Mega Wealth.

  • 3. Is college worth the money and debt? The cost of college has increased by 11x since 1980 while inflation overall has increased by 3x. Diluting education with for-profits. and saddling millions with debt.

  • 4. The Perfect $46,000 Budget: Learning to Live in California for Under $50,000.

  • 5. Family Budget: How to go Broke on $100,000 a year. Why the Middle Class has a hard time Living in Expensive Urban Areas.

  • 6. Lining up at Midnight at Wal-Mart to buy Food is part of the new Recovery. Banks offering Mattress Interest Rates. The Invisible Recovery Outside of Wall Street.

  • 7. You Cannot Afford a $350,000 Home with a $75,000 Household Income!

  • 8. Crisis of generations – younger Americans moving back home in large numbers. Student loan default rates surging largely due to for-profit college expansion.

  • 9. The next massive debt bubble to crush the economy – 10 charts examining the upcoming implosion of the student loan market. $1 trillion in student loans and defaults sharply increasing.

  • 10. Welcome to the new model of retirement. No retirement. In 1983 over 60 percent of American workers had some kind of defined-benefit plan. Today less than 20 percent have access to a plan and the majority of retired Americans largely rely on Social Security as their de facto retirement plan.
  • Categories