On Black Tuesday, the Dow Jones Industrial Average dropped almost 12% closing at 230. After the crash, the Dow continued sliding for three more years. It finally bottomed on July 8, 1932, closing at 41.22. All told, it lost almost 90% of its value since its high on September 3, 1929. In fact, it didn’t reach that high again for 25 years until November 23, 1954. Losses from the stock market crash helped create the Great Depression....
Brick and Mortar vs Online Sales Statistics According to U.S. Department of Commerce Statistics: Total retail sales rose from $1.38 trillion in Q4 2019 to $1.47 trillion in Q4 2020, a 6.9% increase.E-commerce sales rose from $156.39 billion in Q4 2019 to $206.66 billion in Q4 2020, a 32.1% increase.As a percentage of total retail sales, e-commerce sales have risen from 11.3% in Q4 2019 to 14% in Q4 2020....
What Are Budget Deficits and Surpluses? Budget deficits — also known as fiscal deficits — occur when a government’s spending is higher than its tax revenues. Conversely, budget surpluses — also called fiscal surpluses — occur when a government’s tax revenues exceed its spending. Government budgets with revenue and spending levels that cancel each other out are said to have balanced budgets. Two other terms commonly used when talking about government budgets are primary balances and structural balances....
Here, we’ll show you how to teach kids to create a plan for spending and saving so they can reach their goals and stay on financial track throughout their life. Why Teaching Budgeting Matters The lessons one learns within their home as a child are a key source to financial education. According to recent research, the financial knowledge and principles children retain as they transition into teenage years and adulthood originate primarily from their parents....
Keep reading to learn the basic components of a business plan, why they’re useful, and how they differ from an investment plan. What Is a Business Plan? A business plan is a guide for how a company will achieve its goals. For anyone starting a business, crafting a business plan is a vital first step. Having these concrete milestones will help track the business’s success (or lack thereof). There are different business plans for different purposes, and the best business plans are living documents that respond to real-world factors as quickly as possible....
Paperkites / Getty Images When a bank is unable to sell the property during the foreclosure auction, it becomes a real estate-owned (REO) property. Prices for REOs can be better than short sales because the bank is not in the property management business. Learn more about the differences between short sales and foreclosures. How Short Sales Work A short sale happens when a property’s lender agrees to accept less than its unpaid balance of the outstanding mortgage to facilitate a sale....
Call options give the holder of the contract the right to purchase the underlying security, while put options give the holder the right to sell shares of the underlying security. Both can be used to let investors profit from movements in a stock’s price. However, there are very important differences in how they work. What’s the Difference Between Call Options and Put Options? When you buy a call option, you’re buying the right to purchase shares at the strike price described in the contract....
You have to be unmarried, or you must be “considered unmarried.” You must have a qualifying dependent, and you must pay more than half the cost of maintaining your home for the year. Why File As Head of Household? The head of household (HOH) filing status is advantageous in a couple of ways. The standard deduction available to these taxpayers is much more than that which is offered to single persons: $18,800 in the 2021 tax year, the tax return you’ll file in 2022....
Perhaps you’ve wondered how to use credit cards’ benefits for other, larger kinds of purchases, such as a house. It might surprise you to find out it is in fact possible to buy a house with a credit card. However, just because buying a house with a credit card is possible doesn’t mean it’s a smart choice. Is It Possible To Buy a House With a Credit Card? Although it is possible to buy a house with a credit card, it’s not as simple as swiping your card and taking the keys....
For that reason, some lenders will only grant you a student loan if you have a co-signer, which is a person who agrees to repay the loan on your behalf if you can’t do so. If there’s no co-signer available or you don’t want to give that responsibility to someone else, it’s possible to get a student loan without a co-signer. Understand how to get a student loan without a co-signer to maximize your chances of loan approval....
Starting Tuesday, consumers with a Capital One travel rewards card can transfer miles to several travel partner loyalty programs at a 1-to-1 rate, an improved rate for the Venture Rewards program, but one competing travel card rewards programs already offer. Capital One is also adding four new travel partners to its Venture Rewards program: Choice Hotels, British Airways, TAP Air Portugal, and Turkish Airlines. These travel program updates are part of a larger relaunch of the Capital One Travel program to give travelers more options, according to an email announcement sent to The Balance....
Tim Robberts / Getty Images If used properly, they could help you avoid a bank overdraft fee or provide quick cash to tide you over until your next paycheck, said Martin Lynch, director of education at Cambridge Credit Counseling Corp., a nonprofit credit counseling service, via email to The Balance. Some apps also provide innovative budgeting tools; low-interest, credit-building loans; and other options, he said. But some have come under legal scrutiny because of the fees or monthly membership dues they charge, so it’s essential to comparison-shop before signing up for an app’s offer....
Frictional and structural unemployment occur even in a healthy economy. The natural rate of unemployment is between 4% and 5%, according to the Federal Reserve. The Bureau of Labor Statistics (BLS) defines unemployed people as those who are jobless and have actively looked for work in the past four weeks as well as those who have been temporarily laid off from a job. If they don’t keep looking, the Bureau of Labor Statistics doesn’t count them in the labor force....
When it comes to furnishing a home, the Internet tells us the same old stuff: Don’t spend too much. Look at used furniture. Always be patient. All of that is great advice, but what are some actionable steps we can take when we want to start making our new house feel like a home? Here is the checklist we all wish we had when we first furnished our homes:...
What a Lender Wants in a Business Plan A lender wants to know only two things: That’s it. Everything else is just fluff. You don’t need a 200-page business plan to tell a potential lender this. Remember KISS - Keep it short and simple. In the thousands of business plans that have been reviewed over the years, these are the most common errors: Not Using Third Person Write as if you were not the business owner, but a hired writer talking about the business....
The Free Application for Federal Student Aid (FAFSA) is a form completed by current and prospective college students in the U.S to determine eligibility for student financial aid. Aid is usually granted in the form of a lump sum and is based upon the assumption that a student will complete the academic year in which they received the money. If you’re thinking about dropping out, or are forced to do so, you need to be aware of the various expectations for repaying financial aid....
“The Sentiment Index now signals the onset of a sustained downturn in consumer spending,” Richard Curtin, chief economist of the University of Michigan’s Surveys of Consumers, wrote in a commentary released with the index Friday. Consumer spending is a major driver of the economy, so less of it can hurt the prospects for growth. There are reasons to be skeptical, however, about just how much of today’s pessimism will translate into people hoarding their pennies instead of spending them, since the pandemic-era economy is anything but normal....
Indeed, the overall inflation rate is getting worse, and November’s data shows it’s not just a few items driving it. Higher prices are all around us, impacting our purchasing power not only when we’re filling up at the gas station, but when we’re buying a used car or truck (prices are up 31%), using beef roast or bacon for a Sunday meal (prices are up 26% and 21%), or outfitting our living room or closet with new furniture or a men’s suit (both are up 14%)....
Each of these groups includes the costs that are associated with them. Insurance, vehicle maintenance, toll fees, vehicle licensing and registration, bus or taxi fares, and any other transportation-related costs are included in the transportation group; the housing group includes insurance, maintenance, utilities, rent or mortgage payments, child care, phone bills, or any other cost associated with having a place to live. It is important to understand how the cost of living is calculated, how to compare different ones, and what the index tells you so that you can decide how far you will be able to make your paychecks go....
Trump Administration Predictions of TCJA’s Impact The analysis provided by the White House looked at the combined effect of the tax cuts and Trump’s Fiscal Year 2018 budget. The budget planned to boost growth through increased infrastructure spending, deregulation, and welfare reform. Congress approved the budget plus additional appropriations. Trump asked for $1.15 trillion in discretionary spending; Congress approved $1.3 trillion. The Treasury report projected that the tax cuts and the budget would boost economic growth to 2....
