The latest inflation numbers are a mixed bag, accelerating sharply in monthly terms though easing a little in annual terms, with experts largely saying that the data remains too hot for the Federal Reserve (Fed) to start dropping interest rates. However, a pause in the rate-hiking cycle could be in the cards. While the annual…
IN-DEPTH: Inflation Still Too High for Fed to Start Lowering Rates, Experts Say
Seven Retailers Facing Fiscal Challenges
In 2022, retail sales were hammered by persistent high inflation and weak consumer demand—and 2023 isn’t much better. Economists from S&P Global Market anticipate only 0.5 percent sales growth, but that equals a 0.1 percent decline when accounting for inflation. Some retailers feel the pinch more than others and have begun closing stores. Even worse,…
Your Social Security Payments Outside the US
As I write this, my wife and I are about to leave on a one-month trip to England. This has been one of our “bucket list” plans for a long time now. We’ve been back and forth to Europe about a half dozen-times over the years. But most of those trips were of the “if…
New Tax on Farmers Will Send Food Cost Soaring, Sector Warns
May 9, 2023
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AustraliaAustralia budget 2023Australian farmersBusiness & MarketsDavid Littleproudeconomypersonal financeWorld
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Farmers are warning the federal Labor government that its decision to ignore the sector and increase taxes on producers will force up the price of food, pushing the cost of living even higher. This comes as the federal government announced in the budget that it will introduce a new 10 percent levy on all domestic agricultural,…
New Tax on Australian Farmers Will Send Food Costs Soaring, Sector Warns
May 9, 2023
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AustraliaAustralia budget 2023Australian farmersBusiness & MarketsDavid Littleproudeconomypersonal financeWorld
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Farmers are warning the federal Labor government that its decision to ignore the sector’s suggestions and increase taxes on domestic producers will force up the price of food, pushing the cost of living for Australians even higher. This comes as the federal government announced in its budget released Tuesday that proposes introducing a new 10…
Closing Prices for Crude Oil, Gold and Other Commodities (May 9)
May 9, 2023
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Benchmark U.S. crude oilBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for June delivery rose 55 cents to $73.71 a barrel Tuesday. Brent crude for July delivery rose 43 cents to $77.44 a barrel. Wholesale gasoline for June delivery rose 2 cents $2.48 a gallon. June heating oil rose 1 cent $2.39 a gallon. June natural gas rose 3 cents to $2.27…
How to Move from Overspending to Spending Less
Even the mention of words like “frugality” and “thrift” send some people over the edge because for them, those words conjure up thoughts of poverty and deprivation. They assume that cutting costs is tantamount to diving into dumpsters to find one’s next meal. No wonder so many people prefer a life of debilitating debt to…
Tips for Homebuyers
By Daniel Bortz From Kiplinger’s Personal Finance Home prices are expected to remain flat or even fall in 2023. Still, prices are lofty. And if you’re in the market for a home, here are some tips to keep costs down. Look into mortgages with low down-payment requirements. The average down payment across the nation’s 50…
Your Pension Could Become a Retirement Tax Bomb
May 9, 2023
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BrightEstateMedicarepensionpersonal financeretirementRetirement AccountsRoth accountSocial Securitytaxtax bombWealth Management
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If you have a pension coming to you when you retire, it could affect your taxes in the future. The biggest problem would be that you put a lot of your retirement money into tax-deferred accounts. As a result, it means that you will have to pay taxes on that money when you withdraw it,…
Americans Suffering Sharply Higher Levels of Financial Anxiety
May 9, 2023
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Business & Marketseconomic policieseconomyfinancial anxietyinflationmental healthpersonal financerecessionUSUS News
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Many Americans say they are suffering sharply from higher levels of financial anxiety as the economy takes a downturn. Money is now the prime cause of stress for most Americans, according to May 8 survey by Bankrate. At least 52 percent of respondents reported that personal finances have had a negative impact on their mental health,…
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