Good news, millennials: You dont have to give up those pumpkin spice lattes just yet.
Ethan Bloch, founder of online financial company Digit, is shaking up some major money myths in a new interview with Bloomberg Business. Chief among them? Just have your fucking latte, he says.
Just having that conversation in your head and using self-control over $3 is time and energy misspent, the financial whiz explains.
Treating yourself to Starbucks finest is just the tip of the iceberg. According to Bloch, millennials should stop stressing about buying homes, getting jobs straight out of college, and stockpiling money into a retirement fund.
A recent editorial in this newspaper called for problems with payday and title loans in Missouri to be tackled by a 36 per cent Annual Percentage Rate (APR) cap (Our Voice: State Should Enact Real Reform October 31, 2015). Unfortunately, far from being the silver bullet for regulating payday lenders, an APR cap would be disastrous, affecting all small dollar lenders in the State and acting as a tool of financial exclusion for those who do not have access to mainstream financial services.
First of all, policy developed along these lines would misuse the concept of APR, which was never intended to be used for small loans over short periods. The APR numbers referenced in the editorial...
No one ever promised that the challenges to growing a small business would be small. Entrepreneurs regularly confront issues that can threaten the very core of their companies, not the least of which is difficulty securing the financing they need to run and grow a sustainable business.
Related: TheSecret Credit Score Every Business Owner Should Know About, and How to Build Yours
Finding capital is becoming harder for a significant proportion of small businesses despite the wider variety of financing options available.Even though there are more lending options for small businesses than ever before, a crucial step ismissing in the process; and no one is paying attention, leaving...
Young people come into my office looking for a mortgage. Through hard work and discipline they have saved between $50,000 and $100,000 for a down payment and I cannot give them a mortgage.
Why? Because they have no credit score. Its not that they have poor credit, its that they dont have any at all. They thought they were doing all the right things (and they were). They lived within their means, only bought items (even cars) when they had the money and dont owe anyone anything. But its time to purchase their first...
College students are one of the biggest consumers of credit cards, and are victims of many credit card company marketing tools. They are a big responsibility and students should do their research before getting a credit card to ensure they don’t rack up debt and end up lowering their credit score.
Credit should be important to a college student for many different reasons. Credit is one thing that determines if you can get a loan. A high credit score allows someone to get a better interest rate for long term loans.
For students, college is a great time to start building credit. Starting early is beneficial, because it takes a while...
I spent five years studying the daily activities of wealthy individuals.
I learned so many things that I’ve spent the better part of seven years sharing that information to help those struggling financially pull themselves out of the abyss that is poverty.
One of the many things I learned is that self-made millionaires have a very different understanding about money than everyone else. I’d like to share some of the myths about money I uncovered in my research.
Recent revelations about Volkswagen’s emissions have focused attention on the environmental damage caused by the auto and fuel industries–and the need for a decisive shift towards genuinely green transport that can cut smog in the world’s major cities.
This is particularly so in China, as the country readies its 13th Five-Year Plan that will include ambitious targets for the use of New Energy Vehicles (NEVs) in China as part of a wider drive for greener growth and improved air quality.
China has long been lagging in its efforts to persuade motorists to shift to greener alternatives, prompting a rethink at the highest levels on how electric vehicles (EVs) can be made...
Vice President Yemi Osinbajo has urged the National Automotive Design and Development Council to fashion out a comprehensive vehicle credit purchase scheme that would enable Nigerians afford new vehicles.
Stressing that the policy should be detailed, he said the Council bill, which had been taking time, should be made to work for those who could not afford new vehicles.
The Vice President spoke yesterday at a briefing by the Council at the Presidential Villa, Abuja.
Osinbajo, in a statement by his Senior Special Assistant on Media and Publicity, Laolu Akande, said he was concerned about the strategy for raising funds and the pressure which the importation of used vehicles...
Experts from various relevant government institutions, private sector and representatives from regional states met last week in Adama city of Oromia Region to discuss on how the country will have its first effective weather index based crop insurance.
Speaking at the meeting Yewondwossen Eteffa, CEO of Ethiopian Insurance Corporation (EIC) stressed the need of strengthening and diversifying insurance services to strengthen the financial sector of Ethiopia.
He also pointed out the works that have been done so far to come up with an improved and innovative insurance coverage that is suitable for the current Ethiopian context which includes working with Public Financial Enterprises...