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Does personal finance still work with our changing economy?

Sunday, May 17th, 2020

Does personal finance still work with our changing economy?

Don’t obtain a motor vehicle you can’t manage. Save 10 percent of the earnings for retirement. And, for crying aloud, stop throwing out money on lattes.

Conventional personal finance advice is frequently tossed around in blanket statements. Even though the advice is sound the theory is that, just how we actually cope with cash is far more complicated.

Our changing economy has made this a far more typical truth. Customer spending is increasing and jobless prices are low, but wage development happens to be sluggish, some men and women have offered within the work search and earnings inequality continues to be quite definitely a thing. By having a financial system so drastically changing — and apparently for the worse — exactly what can we do about money?

“I’m interested in the factors and effects of inequality, especially from the labor market perspective, ” said Kate Bahn, manager of labor market policy plus an economist during the Washington Center for Equitable development, an investigation company. (more…)