Shopping is changing
Retail stores are closing all over:
If you want anything at Sears, you might want to hurry over there – Tuesday, the company indicates that it faces “substantial doubt” about its ability to stay in business unless it can borrow more and tap cash from more of its assets.
Shoe shopping is changing too – Discount retailer Payless is said to be filing for bankruptcy protection, possibly as soon as next week. The company presently has over 4,000 stores in 30 countries. Initially the store planned to close as many as 1,000, but it now sounds like that initial closure plan might be halved with about 400 or 500 stores imminently set to close.
Bebe is closing all its stores — about 170 — to focus on increasing its online sales, according to a Bloomberg report.
Retail stores are closing
The question now is how many shopping malls will have to close? – To reduce losses, malls must quickly find a replacement tenant for the massive retail space that the anchor store occupied, which is difficult — especially in malls that are already financially strapped — when major department stores are reducing their retail footprints.
I Didn’t Spend Money For A Week & I Learned A Valuable Lesson About My Relationships – According to a recent Bustle survey of more than 1,000 millennial women, more than 50 percent of people said they never discuss personal finances with friends, even though 28 percent reported feeling stressed out about money every single day. That’s why Bustle launched Grown-A$$ Finances, a series that gets real about what millennial women are doing with their money, and why — because managing your money should feel empowering, not intimidating.
“Someone’s sitting in the shade today because someone planted a tree a long time ago” – That’s a quote from Warren Buffett. The lesson here is to be a forward thinker when it comes to personal finance, whether you’re talking about investing, saving, or spending. When you’re deciding whether to put some more money aside for emergencies, think of a financial emergency actually happening and how much easier your life will be if you have enough money set aside.
Similarly, few people get rich quick by investing, and most people who try end up going broke. The most certain path to wealth (and the one Buffett took) is to build your portfolio one step at a time, and keep your focus on the long run.
Men not at Work
Maybe the Economy Isn’t the Reason Why So Many American Men Aren’t Working – Many experts have blamed a poor job market, but new research indicates that an overlooked cause may be poor health. Fewer adult men are looking for work, more are working unpredictable, inconsistent schedules which leads to poor food choices.
In 1957, 97 percent of men in America ages 25 to 54 were either working or looking for work. Today, only 89 percent are. In a 2016 report, President Obama’s Council of Economic Advisers examined the declining labor-force participation rate and suggested that a drop-off in good jobs for low-skilled men was part of the explanation.