Thursday bits: Hating banks, investing for Millenials, Quitting your jobs, Bernie Sanders as a fashion model, and Vegemite

Your Money

How to Keep Debt Collectors Honest, and at Bay

Calls from a debt collector, 30 to 40 times a day. Embarrassing calls about a payday loan debt to friends and family. And ruined credit, incurred through thousands of dollars in credit card debt that a consumer didn’t actually owe.

You Don’t Want What Wells Fargo Is Selling. What Should It Do Now?

In her new book, “The Unbanking of America: How the New Middle Class Survives,” Lisa Servon, who worked in the check-cashing and payday-lending business as part of her research, offers a laundry list of consumer-friendly innovations that any bank could adopt. Wells Fargo executives should turn right to Chapter 8 to see them. There, she mentions KeyBank, a regional player with a fee-free checking account now known as the “Hassle-Free Account.” Wells Fargo has a similar offering that it could build on called “Opportunity Checking,” but it’s harder to avoid fees with that one.

Three Paths to Quit Your Job This Year

Dream jobs don’t just fall into your lap; you have to go out and grab them. Sometimes, that means making bold moves, like quitting your job without knowing exactly where you’re going next, or starting your own business. But bold doesn’t mean foolhardy. To make a big change and see positive results, you need to prepare before you take the leap.

Big saving tips for 2017

Although getting on the property ladder in today’s economic market isn’t exactly a piece of cake, buying is definitely a more cost-effective means of living than renting. Not only is the monthly cost of renting generally higher than a typical monthly mortgage rate, you’ll end up with exactly what you started with: nothing. If you buy your home, however, you’ll have reached the first rung on the property ladder, pay fewer monthly costs, enjoy an improved credit score

Investing

The 1 thing Millennials need to know about investing

The power of time can be found in a concept known as compound interest, which essentially means that the money you initially invest will grow over time, but so will the money you make in the meantime. The longer money has to percolate and generate grow.

Retirement Planning

Roth IRA Recharacterization: 3 Reasons to Reverse Your Roth Conversion

Doing a Roth IRA conversion lets you earn unlimited tax-free growth for as long as your money stays in the retirement account. But one of the biggest benefits of a Roth IRA conversion is that if things don’t go the way you planned, then you have as long as 21 months to change your mind and undo the conversion. This process is called Roth IRA recharacterization, and there are several reasons when it makes sense to consider using recharacterization to reverse a Roth IRA conversion.

The 3 investing questions retirees need to ask

When trying to make your money last in retirement, every penny counts. And you can lose a lot of those pennies in surprising places. That’s why all retired investors should ask themselves three questions to see if they are wasting precious retirement dollars.

Stuent Loan Debt

Student Debt Payback Far Worse Than Believed

An analysis of revised Education Department numbers shows that at more than 1,000 schools, at least half of students defaulted or failed to pay down their debt within seven years.

Government sues America’s largest student loan company

The states, and the CFPB, are also seeking money for borrowers who may have been hurt by the companies’ servicing practices, as well as civil penalties. Anyone who borrowed a private loan from Sallie Mae prior to 2010…

Misc.

Great News! Vegemite is back where it belongs

Vegemite, the iconic yeast spread found in almost every kitchen Down Under, is back in Australian hands as part of a record $345 million acquisition.

Manhattan Office Owners Pay to Keep Tenants as Demand Falls

Commercial real estate in Manhattan is expensive… really expensive. But with lots of new construction, owners of existing office buildings are being forced to offer incentives for tenants to remain in place. Usually this includes giving tenants cash to make modifications to the buildings to make it more suitable for today’s work enviorment (i.e. more open plan and food service, less small office space.) These tenant improvement dollars offered to tenants is at an all time high.

Bernie Sanders Is Now a Fashion Icon

I remember in the old Rodney Dangerfield movie, Easy Money, Rodney’s attire is parodied. His look gets used as the example of a new line of clothing for Monahan’s Department Store with “the regular guy look.” Now it appears art imitates life… At Balenciaga’s runway show during Paris fashion week, designer Demna Gvasalia drew inspiration from an unlikely source: U.S. Senator Bernie Sanders.

Chart of the Day

Infographic: Netflix & Co. Surpass DVD & Blu-ray Sales | Statista
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