Today’s Bits: Are we heading for a recession? Are you better off financially today than you were when Obama took office? How many credit cards do you have?

Are we heading for a recession?

Can restaurant indicate an impending recession? Periodically, how much money we spend at restaurants has been considered a short-term indicator of how well the economy is doing? Rating agency Moody’s has lowered expected earnings for the restaurant sector for the next 12-18 months. [Marketwatch]

Are you better off financially today than you were when Obama took office?

Are you earning more today than you where eight years ago? While the median household income may have stayed flat for much of those past eight years, they recently jumped up. They median salary in the U.S. is now $56,516. How about jobs? Where is unemployment today, compared with where it was when Obama took office. In January 2009, unemployment was at 7.8%. In October, 2016, unemployment was at just 4.9%. [Money]

How many credit cards do you have?

How many credit cards do you have? You probably have a few from retailers. When you reach the cashier, they offer you a store credit card and tell you how much you could save by using their card. While you might save money on your first purchase, unless you pay off your card in its entirety, you’ll probably be paying a lot in interest. These retailers cards frequently have higher interest rates than MasterCard, Visa, etc. Here are few reasonable alternatives to retailers’ credit cards along with a couple of select retailer cards which you might want to check out. [credit.com]

 

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