Keeping up with the latest in financial news can be a hassle. It is important if you want to keep a step ahead of debt or other financial troubles but it can often seem like too big of a task to manage on your own. If you are the type of person who reads multiple newspapers every day, then the good news is that you should be reasonably up to speed on things. If you don’t read the newspaper daily and just rely upon word of mouth, though, then chances are that you may be falling behind on things.
So let’s fix that. Down below is a list of current hot button financial issues and decisions currently being debated. Whether it is debt, student loans, or car recalls no information is too small to be overlooked by the savvy and smart consumer.
Toyota: The media coverage which the company has been under for the past month has been overwhelming. By now, most Americans know that Toyota cars have dangerous problems with them (uncontrollable acceleration being the biggest concern) and their faith in the automotive giant has been shaken.
But are you also aware that now is the best time to buy a Toyota vehicle from a financial point of view? Toyota is currently offering the highest discounts on its vehicles in its entire history. If you think that Toyota has fixed the problems with its vehicles or you are just a person looking for a good deal, then check Toyota’s offer out. Toyota vehicles get great gas mileage, something which should help you save even more money in the long run should you choose to purchase one (barring accidents, of course). And before this current crisis, the Toyota brand was thought to be one of the safest on the road.
Student Loans: Student loans and governmental grants may be in for a big change. Congress is currently contemplating legislature that would allow it to cut out the “middlemen”, or contractors, who usually dole out the governments allocated student education money. They hope that by doing so more students will receive the funds that they need in order to attend college.
Good News: If you are a college student or are currently supporting a student’s education, then there is a good chance that you will be able to save money. The government getting directly involved will mean more money for you and less for the people that you talk to in order to get it. Bad News: If you work for a company that used to be in the business of giving out government grants, then you are looking at tough times. Local economies in places like Nebraska (where many of these companies are located) will also be hit by this. And finally, because the federal government is getting involved, be prepared for more forms – not fewer.
A final bit of news is that Congressional Democrats are trying to merge the student financial aid bill with the Health Care Bill. Because the financial aid bill is a popular congressional motion that many senators and representatives do not want to vote against, the Democrats believe that merging the two will gain the Health Care Bill the votes that a Reconciliation move (which is a way for Congress to forcibly pass a bill through in such a way as to make it impossible to filibuster or delay) would require.
Debt: What about it? Debt is the same as always. People get into financial trouble, find themselves with no credit left, and think themselves to be powerless to change things. But that is not true. Thanks to the current economic crisis, companies and experts on debt management have sprung up right and left. Debt, credit, and financial aid groups have advertised like never before in order to get you to use their services. Many of these groups are good at what they do, but there is always one or two that just want to take your money.
But don’t let this stop you. If you are in trouble financially and are thinking about declaring bankruptcy, experts are nearly a must have. They can keep the creditors off of your back and help you to get yourself financially stable again. While you might be able to do it on your own, it is incredibly difficult to do; you will have to learn a massive amount of new information while at the same time cutting back on things and/or earning more money.
If you are in debt, need a reverse mortgage settlement, or require some other form of financial advice then please, seek help immediately! Reliable groups such as debthelper.com (a non-profit debt help organization) are around because of debt related problems. It is quite literally their job to help people at the end of their rope.
The Economy: Is the economy improving, getting worse, or doing neither? Well, in a nutshell it is doing all of the above. Major sectors of the economy (such as retail) have seen recent improvements, but signs are indicating that these improvements are temporary. According to a Reuter’s article, experts claim that the current economic recovery will slow down this summer, with job losses also slowing down by that time.
Good News: Currently, the U.S. economy is doing better. Businesses are choosing to not fire employees in fear of continuing problems. And companies are hiring temporary workers, allowing people who are currently unemployed the chance to jump back into the job market.
Bad News: While it has slowed, the loss of full time jobs is still continuing. Additionally, with things unlikely to get dramatically better anytime soon, companies are cautious about hiring new full-time workers. We may have hit and begun to climb up from rock bottom, but we are still a long way off from the top of the mountain.
If you read this post and found it useful, then feel free to leave a comment. Advice, questions and criticism are both appreciated and encouraged. Speak up and let your fellow readers know what’s going on!
Reuters Economic News Article
Reuters Report on Toyota Discounts Article
New York Times Economic News Article
New York Times Student Load/Health Care Bill Article
Blog Post on Student Loans: Linked Here