According to a recent article swirling the internet this week, the difference in what a middle class family can afford now compared to ten years ago is a frightening thought. With a turbulent economy, a wavering job market and debt balances at all time highs, the middle class isn't nearly as comfortable as it once was. In fact, there are several big areas that the middle class is struggling to keep up with, such as:
Things We Can't Afford Anymore
What Happens When a Whole City Goes Bankrupt?
Bankruptcy news for more than the past year often brings up the city of Detroit, Michigan. Poor financial choices over decades led to one of the biggest bankruptcy cases in our nation's history. It may soon be over; the judge will deliver his ruling on November 3.
Americans and Debt
According to NerdWallet Finance, the average household credit card debt as of September 2014 is over $15,000. In total, that is over $11 trillion. That figure doesn't even include student debt and mortgages. That's kind of insane, right? Maybe you have more debt, and maybe you have less.
Investing in a Mutual Fund
Many people struggle to pay bills on time, and it's become more and more common to consult a Louisville bankruptcy attorney because of the recession. But when you have some extra money above savings, what should you do with it? Investing is cited as a great option, but where do you start?
Investors Stunned by GT Advanced Technologies Bankruptcy
Earlier this week, GT Advanced Technologies Inc., creators of Sapphire screens, abruptly filed for bankruptcy, taking investors, creditors, and partner Apple by complete surprise. The company had made a scheduled bond payment and promised those interested in another business update later in the week. Apple had been working with the company to help keep them afloat and had even stopped demanding repayment of loans due to GT's low funds. Regardless of their obvious struggles, the GT executives were still confident that they would end 2014 with $400 million in the bank.
Your Bank Account In Chapter 13
If you have decided to file for chapter 13 bankruptcy, a court-appointed trustee will review your spending habits for the 90 days prior to filing. Therefore, it is very important to keep track of every purchase you make, to avoid making a fatal mistake. Chapter 13 bankruptcy provides a little more leeway since you still agree to make payments, but it's still best to be careful. Here are some tips for helping you keep track of finances:
3 Emotional Situations That Make Money Issues Worse
Bankruptcy and other financial issues are generally seen as objective things. Most people try to avoid the emotional side of this type of situation, preferring to focus on numbers instead. However, personal and emotional issues can both cause and exacerbate financial issues that lead to bankruptcy, foreclosure, and other common consequences. Here are three intense emotional situations that may cause you to need bankruptcy help and how to cope with them.
How Bankruptcy Can Save Detroit
Last year, news broke of Detroit's decision to file for Chapter 9 bankruptcy, making it the largest city in the United States to file in history. While Detroit still faces a long, hard road to recovering their financial state and local economy. The marked improvement faced by Detroit residents speaks volumes to the possibilities gained
