Financial Literacy

• Perhaps we need to solve the innumeracy problem in the US in order to make any significant gains in Financial Literacy. (WAPO)
• Even if we are successful in requiring every high school student to take a personal finance class, what do we do about all of those past high school who need the same knowledge? Some suggest the responsibility fall to employers. (Pensions and Investments)
• Read all about NGPF's own Yanely Espinal! (MarketWatch)

Economics

• US manufacturing survey contracts to worst level in a decade. (CNBC) And service sector activity dropped to the lowest level in three years. (AP)
• Jobs added for September was lower than expected, (retail and manufacturing employment dropped), but unemployment rate dropped again to 3.5%. (MarketWatch 
• The risks of persistently low interest rates are explained clearly in this Investor’s Business Daily article.

Investing

• TD Ameritrade fires back at Schwab by cutting commissions to zero. (ETrade also followed their lead.) (Investment News)

Credit management

• This WSJ (subscription) article on seven-year auto loans made the rounds this week. My first line in my auto loan lesson has always been “if you need to take out a seven year loan to buy a car, you can’t afford it.”

Paying for College

• What impact does home equity have on financial aid? It varies by school. If the school only requires a FAFSA, it doesn’t, but if you have to fill out a College Scholarship Service (CSS) Profile, it might. (WSJ-subscription)

Insurance

• Will Walmart end up being the force that disrupts our current health care system? (RiskHedge)

Retirement

• Advice on Social Security is easily found, but how do you separate the good from the bad? To start, understand these seven “myths” about Social Security. (MarketWatch)
• Need some new examples of what it takes to save a million if you follow the 15% rule? (CNBC)
• What is the fastest growing group of workers in the US? The over 65s! (NPR)

Relationships

• The second annual Couples and Money survey conducted by PolicyGenius was released this week. Here are some key findings:
  • One in five people (20%) in a relationship think their partner is bad with money
  • 78% claim they make financial decisions jointly
  • Half of people (50%) don't know their partner's credit score
  • One in ten people (12%) have a secret credit card
  • One in ten people (12%) have hidden a purchase from their partner in the last 6 months
  • 25% of people would spend over $100 on their partner to end a fight 
  • 19% of people don't spend any money without telling their partner.

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