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Financial Literacy

Financial stability-basic principles

1. Pay rent in full when it is due In Ohio there's no reliable "second chance." One day late or one penny short could put you on the street. Avoid payday loans.

2. Establish a rainy day fund. Most households are one paycheck or one car breakdown or one medical emergency away from eviction.

3. Save your receipts. Landlords in Ohio are not required to give receipts and money order stubs are a poor substitute. Renters should demand something in writing every time they give money. Renting is a renter family's business.

5. Manage your credit record (and score) Not long ago, credit reports only mattered if a tenant was buying a house. Now landlords routinely check credit records and may adjust the terms of a lease or the amount of a security deposit based on what they find,

6. Apply for Earned Income Tax Credit. Low income working families may be entitled to money back from Uncle Sam.

7. Reduce your household expenses. Tips for utility savings.

 What's News in Financial Literacy
Here's the continuation of the predatory capitalism that destroys their customers in favor of short term profits. "Mass-mailing checks to strangers might seem like risky business, but Mariner Finance occupies a fertile niche in the U.S. economy. The company enables some of the nation’s wealthiest investors and investment funds to make money offering high-interest loans to cash-strapped Americans. Mariner Finance is owned and managed by a $11.2 billion private equity fund controlled by Warburg Pincus, a storied New York firm. The president of Warburg Pincus is Timothy F. Geithner, who, as treasury secretary in the Obama administration, condemned predatory lenders. The firm’s co-chief executives, Charles R. Kaye and Joseph P. Landy, are established figures in New York’s financial world. The minimum investment in the fund is $20 million."
Keyword: Stabilize
Hot Issue: Financial education
Keywords: predatory lending, sub prime mortgages, rent to own scams
Posted: July 2, 2018

June 26, 2018, Star Beacon, "Senior center to host 'Money Smart' series"
Good idea. Encourage the seniors to bring their children and grandchildren
Keywords: Stabilize, financial

June 20, 2018, In the real economy, prosperity isn't growing "As Workers’ Pay Falls, Is the Answer Patience or Advocacy?"

 Notes and Links