News roundup September 28, 2024
Credit Sesame’s personal finance news roundup September 28, 2024. Stories, news, politics and events impacting personal finance during the past week. Key inflation measure remains mild in August 2024 The Personal Consumption Expenditures (PCE) price index rose by just 0.1% in August. That gave it a total increase of just 2.2% for the past 12 […]
A brief history of consumer banking in the United States
Credit Sesame discusses the history and development of consumer banking in the United States. Consumer banking in the United States has evolved significantly, shaped by key historical developments, technological innovations, and shifting consumer behaviors. A brief history of consumer banking The roots of consumer banking in the U.S. can be traced back to the late […]
Are new lower interest rates the first of many cuts?
Credit Sesame discusses the Federal Reserve decision to lower interest rates and what may happen next. For the first time since 2020, the Federal Reserve has cut interest rates. On September 18, 2024, the Fed announced it was cutting the Fed funds rate by 0.5%. There’s reason to believe there may be more rate cuts […]
News roundup September 21, 2024
Credit Sesame’s personal finance news roundup September 21, 2024. Stories, news, politics and events impacting personal finance during the past week. Fed cuts Federal funds rate and signals more to come The Federal Reserve announced that it would be cutting the Federal funds rate by 0.5%. It’s new target range for this rate is from […]
7 ways to cut winter costs and boost holiday savings
It’s that time of the year again, the time of the year when everyone starts making a list and checking it twice. It’s time to start planning your holiday shopping and making your holiday spending budget.
Consumers worry about debt yet take on more
Credit Sesame discusses how, despite increasing worry about debt, many consumers still take on more debt rather than address their financial situation. The latest Survey of Consumer Expectations from the Federal Reserve Bank of New York presents a confounding picture of consumer behavior. An increasing number of consumers fear they can’t afford the debt they’ve […]
News roundup September 14, 2024
Credit Sesame’s personal finance news roundup September 14, 2024. Stories, news, politics and events impacting personal finance during the past week. Easing inflation paves way for rate cut The Consumer Price Index (CPI) rose by a moderate 0.2% in August. That puts inflation for the past 12 months at 2.5%, the lowest increase since February 2021. […]
Credit fiction vs. fact
Credit Sesame lists 20 points of credit fiction and gives you the facts about credit and credit management. 1. FICTION: Checking your own credit score frequently lowers it. FACT: Checking your credit score is considered a “soft inquiry” and does not impact your score. When you check your own credit score, it is classified as […]
Last call: Getting ready for the economic slowdown
Credit Sesame discusses the economic slowdown and how tightening credit and rising debt may lead to a challenging economic period ahead. The economy has had a nice run since the pandemic. After the initial shock, fourteen of the last sixteen calendar quarters have seen GDP growth. Employment has grown for 44 consecutive months. It would […]
News roundup September 7, 2024
Credit Sesame’s personal finance news roundup September 7, 2024. Stories, news, politics and events impacting personal finance during the past week. Employment growth shows new signs of weakness Following a disappointing jobs report last month, employment for August 2024 showed a lackluster gain of just 142,000 jobs. While this is an improvement over July, it […]
The best and worst money advice from grandparents
Credit Sesame dives into money advice from grandparents and whether it still applies today. Our grandparents are often our first financial role models. They’ve lived through economic ups and downs, from the Great Depression to the rise of credit cards, and their wisdom has shaped how many of us think about money. But let’s be […]
Sweat the small stuff to avoid hidden fees
Credit Sesame discusses the hidden fees that add up to big $$$ out of your paycheck. A recent Census Bureau survey found that roughly two-thirds of Americans reported having at least some difficulty paying usual household expenses within the past week. Consumers live paycheck to paycheck and have difficulty making their funds last from one […]
News roundup August 31, 2024
Credit Sesame’s personal finance news roundup August 31, 2024. Stories, news, politics and events impacting personal finance during the past week. Fed Chair signals rate cut is coming In a recent speech before the Federal Reserve Bank of Kansas City, Federal Reserve Chair Jerome Powell said that “the time has come for policy to adjust.” […]
The AI revolution in creditworthiness
Credit Sesame discusses the AI revolution and how it has ushered in a new era of financial assessment. The landscape of credit assessment is shifting, driven by the transformative power of artificial intelligence (AI). Traditionally reliant on historical data and credit scores, lenders now embrace AI-powered algorithms to evaluate creditworthiness Beyond traditional credit scoring AI […]
Will a Fed rate cut provide quick relief?
Credit Sesame discusses the impact of a Fed rate cut for consumers. An interest rate cut in September 2024 looks increasingly likely. There is a general impression that this will provide fast-acting interest “pain relief” for consumers. However, people looking for instant results may well be disappointed. Lower interest rates help the economy by encouraging […]
