These measurements use purchasing power parity to take into account the discrepancy between each country’s standard of living. You really shouldn’t compare countries or economies without it. In 2020, as Canada dealt with the onset of COVID-19, the GDP growth rate was -5.2%, slower than the United States (-3.4%) but higher than Mexico where the economy shrank by 8.3%. Canada’s standard of living, as measured by GDP per capita, was $43,295....
The no-annual-fee card doesn’t feature a lucrative rewards scheme or flashy travel perks like so many of the issuer’s other cards. Instead, the new card rewards responsible credit card use with an annual interest rate reduction and an automatic, one-time credit-limit hike. Both tricks can help cardholders improve their credit scores. The automatic interest rate reduction is the more intriguing of the two features. Here’s how it works: If you pay your bill on time each month and spend at least $1,000 per year on the card, you’re eligible for a 2% APR rate reduction every year, down to as low as 9....
The Chase Freedom Flex credit card is one of the better-known cash-back cards with changing 5% bonuses. Like cards from rival issuers Discover and U.S. Bank, it offers three-month windows when you can earn the lucrative reward rate on different types of everyday spending. How exactly does it work? Here’s a guide and some tips to maximizing the card’s potential. How the Chase Freedom Flex Card Calendar Works Rewards cards tend to award 5% cash back more sparingly than 2% and 3%, sometimes offering it on the same one or two purchase categories indefinitely; other times giving cardholders a choice of two categories each quarter, and often imposing a limit on earnings....
A drop in gas prices in July led people to spend a bit less at the pump than they did in June, which freed up cash for other things, according to data from the Census Bureau on Wednesday. While overall retail spending stayed flat for the month, people spent more in July on electronics, construction materials, and at online stores, highlighting how much fuel price relief is helping out our budgets....
The settlement with the restaurant chain marks the first time the SEC has charged a public company for issuing deceptive financial statements about the COVID-19 pandemic’s effect on its business. The company didn’t admit to the findings, but agreed to pay the sum and avoid such violations in the future. “It is…important that issuers who make materially false or misleading statements regarding the pandemic’s impact on their business and operations be held accountable,” SEC Chairman Jay Clayton said in a press release about the settlement....
This is a generous act, as it can help a friend or family member get approved for a loan that they otherwise wouldn’t qualify for. But it’s also risky to guarantee a loan for somebody else. Learn what happens when you co-sign and loan and the risks it can create for your own financial stability. What Does It Mean to Co-Sign? A co-signer helps a borrower get approved by adding their name to the application....
Consumers only saved 3.1% of their after-tax income in September, the Bureau of Economic Analysis reported Friday. Since this summer, Americans have been saving at rates similar to those that preceded the Great Recession. Consumer prices have been rising rapidly, with inflation running close to its highest in 40 years. But people haven’t cut back their spending, the BEA said, and in fact, have been ramping it up. While consumer spending is a main engine of the economy, the fact that shoppers are unfazed complicates the Federal Reserve’s fight against inflation....
In the first two quarters of 2020, the nationwide total of credit card debt declined to $811 billion from $926 billion before the pandemic, the largest six-month reduction in history, the CFPB said in a report, though the debt had crept back up to $825 billion by the end of the year. Credit card applications fell off, too, with over 140 million people applying for cards versus 172 million in 2019....
Splitting up your credit card payment can affect how you pay off your credit card balance. You may think you’re paying off your balance transfer, but your payments are actually being applied to your purchases balance. Different Interest Rates You might have balances with different interest rates if you’ve made different types of transactions on your credit card, e.g. purchases, balance transfers, and cash advances. Your balances might also have different interest rates if you triggered the penalty rate by being more than 60 days delinquent on your payment....
Credit Score Is a Generic Term Let’s start at the beginning. Think of “credit score” as a generic term that used to refer to the numeric value given to your credit history. Your credit score is calculated using information contained in your credit report and indicates whether you have a bad (low credit score) or good (high credit score) credit history. There are several companies that sell credit scores, and each of the three major credit bureaus has its own version of the credit score....
Your Driver’s License Gender Is Where to Start In most states, a driver’s license application gives you two gender choices, “F” for female or “M” for male. What you mark must match the gender you select for your car insurance, which is why it’s important to understand how to change your driver’s license gender first. The traditional F and M gender markers don’t always work for transgender and nonbinary drivers. All states have administrative procedures in place for transgender motorists to change the gender on their driver’s license, but some provide an easier process than others....
Read on to learn more about this method, how it works, and why it might help you to invest in a steady manner with proven results. What Is Dollar-Cost Averaging? Dollar-cost averaging can best be described as an approach for investing at fixed intervals to slowly build a position in a security. This can be done with either a set amount of currency or by acquiring a fixed number of share units....
Think about it: Your resume is one of the main ways hiring managers assess you as a candidate. Typos and grammatical errors can make you look unprofessional and unqualified. Another big mistake: submitting a resume that doesn’t match the job for which you are applying. Doing this will knock you out of contention for the job, both by hiring managers and the talent management software they use to screen resumes....
Wisconsin is a community property state with regard to marital property, and this adds another layer of law. What Is Intestate Succession? Intestate succession is a default distribution. It occurs for lack of any other provisions made by you, and it must happen because a decedent can’t own property. Ownership of your assets must pass to a living individual when you die. Each state has its own intestacy statutes, but most begin with surviving spouses receiving the lion’s share of a decedent’s estate....
When asked to submit your job materials (such as your resume and any other related documents) as an email attachment, the email itself acts as your cover letter. Here are some tips on how to write and send a quality email cover letter. Use a Professional Email Address First, before you start drafting your letter, make sure your email address is professional. If you are using an informal address that you created years ago like funnygal@oldemail....
Laurence Dutton / Getty Images If you trade on the international market, there are many other types of depositary receipts that you may come across. Learning the basics can help you open the doors to global trading. What Are Depositary Receipts? Depositary receipts are simply financial instruments, traded on a local exchange, that stand for the publicly traded securities of a foreign company. They allow you to buy and sell shares of stock in companies based in other countries, from within a market or exchange in your home country....
It’s always important to leave a job on good terms. The people you worked with are a valuable part of your network and may be helpful contacts to have in the future. For example, your colleagues may be able to provide you with a reference, offer you some job leads if you are searching, or introduce you to someone else you might want to network with. Along with all these reasons, saying goodbye is simply the polite thing to do....
On Jan. 23, 2020, Fair Isaac Corporation, the company behind your FICO credit score, announced it’s rolling out several updates to how it calculates its crucial three-digit credit rating scores with the introduction of the FICO Score 10 Suite, which will be available summer 2020. The last time FICO updated its credit scoring model was in 2014 when it released FICO 9. There are two new FICO score models in the suite: FICO 10 and FICO 10 T....
Here’s what you need to know about final expense insurance so you can decide if it’s right for your needs. What Is Final Expense Insurance? The median cost for a funeral, including a viewing and burial, was $7,848 in 2021, according to the National Funeral Directors Association. This calculated median does not include all the expenses associated with a burial, such as the cost of a burial plot, travel costs (if the deceased needs to be moved to a different location), food and drink costs for a funeral reception, and more....
For international investors, foreign direct investment plays an extremely important role. The growth of emerging markets has been due in large part to incoming foreign direct investment. At the same time, companies investing abroad can realize higher growth rates and diversify their income, which creates opportunities for investors. Macroeconomic Effects of Foreign Direct Investment It’s hard to overstate the macroeconomic importance of foreign direct investment with more than $1 trillion worth of capital changing hands in 2010 alone....
