July 27, 2021

Personal Finance

DailyHum News
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Got a car lease? Your vehicle could be worth thousands of dollars more than expected because of COVID
Personal Finance

Sean Larson recently decided he didn’t need his 2019 Subaru Crosstrek anymore, but he still had 16 months left on his lease, so the Seattle resident thought he was stuck.But he wasn't.Many people with leases, like Larson, are cashing in or turning in their cars early with no penalty. That's because their vehicles are suddenly worth a lot more than carmakers and dealers expected when they had customers sign up for leases in 2018 or 2019.
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Google Q2 earnings: Ad revenues, cloud computing drive big Alphabet beat
Personal Finance

Alphabet, the parent company of search giant Google (GOOG, GOOGL) blew away Wall Street's second quarter estimates on Tuesday, bolstered by strength in advertising and cloud computing.Here were the main results from Alphabet's report, compared to consensus estimates compiled by Bloomberg:Q2 Revenue: $61.88 billion vs. $56.23 billion expectedGAAP earnings per share: $27.26 vs. $19.325 expectedThanks to the tech giant's linchpin, Google Search, ad revenues skyrocketed by 69% from the comparable year ago quarter. Overall total revenue soared by 62% from Q2 of 2020.
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Back-to-School Shopping Will Be More Expensive This Year
Personal Finance

Back-to-school shopping is back — but don’t expect all the sweet deals you’ve been used to in the past.The pandemic upended school shopping last year, but now that much of the U.S. population is vaccinated, students are headed back to in-person classes in the fall. And they’re going to be loaded up with school supplies. Total back-to-school spending in 2021 is expected to reach an all-time high of $37.1 billion, according to a survey from the National Retail Federation (NRF).
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'Powell will keep his bedside manner and try to keep the markets calm:' strategist
Personal Finance

J.P. Morgan Asset Management global market strategist Jordan Jackson joins Yahoo Finance to discuss earnings season, what to expect from the Fed, and the effects China’s crackdown will have on investors in the U.S.
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Stimulus checks and child tax credit payments help fuel calls to expand another credit
Personal Finance

Millions of Americans are feeling a financial boost from federal stimulus checks and monthly child tax credit payments.Those direct checks were made possible by tax credits that were created or expanded through legislation aimed at helping the U.S. economy bounce back from Covid-19.And as Americans get used to additional financial help, there are calls to make the enhanced tax credits permanent. That includes the child tax credit, and the temporary expansion to the earned income tax credit as well.The earned income tax credit, or EITC, gives low- to moderate-income individuals and families a tax break. To qualify, taxpayers generally must show proof of earned income. They may also qualify for a bigger credit based on how many dependents they have.
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How passport delays could ruin summer travel plans
Personal Finance

If you have plans for international travel soon but don’t have an updated passport, it’s time to figure out Plan B this summer.Routine service to get or renew a passport is now quoted at 18 weeks and expedited processing is 12 weeks, which comes at a $60 premium, according to the State Department’s website. That’s because the department is still working through a backlog of as many as 2 million applications.
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No health insurance? There's still time to sign up for subsidized coverage
Personal Finance

If you don't have health insurance, you have a few weeks left to sign up for for low- or no-cost private coverage through the public marketplace.A special enrollment period that opened Feb. 15 and closes Aug. 15 allows individuals to use healthcare.gov (or their state's exchange) to sign up for a plan, which might come with significant subsidies to reduce what you pay for coverage. Unless you have a qualifying life event — i.e., getting married, having a child, etc. — after the current window closes, you'd generally have to wait until open enrollment this fall to sign up.About 1.5 million Americans have secured coverage during the current enrollment period, according to government data through June 30. Another 2.5 million people who already were enrolled through the marketplace have been able to lower the cost of their premiums. Roughly 12 million in all are enrolled through the marketplace, which was authorized by the Affordable Care Act of 2010.
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Cryptocurrencies can be a tool for building personal wealth long-term
Personal Finance

Even though it's a highly volatile asset, cryptocurrency can help investors build wealth, especially if they invest in digital coins over the long-term.  It's a portfolio play that's gained traction in recent months and is catching up to stock trading as something that Americans are looking at for growing wealth. Some 13% of Americans have purchased or traded cryptocurrencies in the past year, according to a recent survey by NORC, a research group at the University of Chicago. In the same time period, 24% traded stocks, the study found.Bitcoin has whipsawed lately, showcasing the volatile nature of many digital coins. On Friday, the asset fell to about $32,000 per coin, but rebounded to about $40,000 on Monday, the highest price it's hit since June. On Tuesday, the cryptocurrency slumped again, trading down 5% around $37,000.
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Wages are rising. But has inflation given workers a 2% pay cut?
Personal Finance

Workers saw their hourly pay in June jump at the fastest clip in over a decade. Yet some of them saw those gains erased by high levels of inflation."Real wages" — a measure of income after accounting for the cost of goods and services people buy — fell by almost 2%, on average, last month compared to 2020. Senate Republicans said Wednesday that Americans were getting a pay cut as a result."The staples of American life are increasing exponentially," according to Sen. Tim Scott, R-S.C., who cited examples like higher prices for gas, laundry, airfare, moving costs, hotels, bacon and TVs.More from Personal Finance: Walmart to pay 100% of college tuition and books for its associates How much vaccine lottery winners could owe in taxes Ways to make your monthly child tax credit payments grow
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Tesla's record earnings: 'There's quite a bit more to come in 2022,' analyst says
Personal Finance

Tesla (TSLA) beat analysts' expectations when it reported earnings Monday afternoon, posting a profit of $1.1 billion and making a record-setting number of deliveries for the quarter. But one analyst told Yahoo Finance that the electric car company still has more room to grow next year.Deutsche Bank Lead Tech and Auto Technology Analyst Emmanuel Rosner noted that Tesla worked relentlessly to cut the costs of its vehicles and to offer cutting-edge battery technology.
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Student loan repayment cliff: '30 million will have a bill coming due,' Sen. Warren warns
Personal Finance

Democratic lawmakers continue to pressure President Biden to extend the student loan pandemic payment pause and enact student loan forgiveness."Tick tock, tick tock — over 30 million Americans will have a bill coming due in about two months," said Senator Elizabeth Warren (D-MA) during a press conference. "The payment pause is running out on student loan debt payments. The size of these payments for many borrowers is the size of their rent, their car payments, groceries, child care — that's going to put a lot of people making hard choices."
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A Fed-issued digital dollar could print money — for the people
Personal Finance

The writer is former Chair of the FDIC and former Assistant Secretary of the U.S. Treasury for Financial Institutions.More and more informed observers are asking why, after 13+ years of the Federal Reserve’s increasingly aggressive monetary interventions, the benefits remain so skewed toward Wall Street over Main Street. The answer is simple: follow the money. Using its traditional tools, the Fed pumps money into the financial system, hoping it will make its way into the broader economy. But the Fed can’t control where the money goes or who financial institutions decide to lend to, and clearly, the primary beneficiaries have been investors and the ultra-rich.
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Delta variant 'changed everything' for America's re-opening, doctor says
Personal Finance

According to the CDC, “the United States is once again seeing a rise in COVID-19 cases, hospitalizations, and deaths.” CDC data shows that as of July 22, 35% of counties across the country are experiencing “high levels” of transmission.“COVID-19 cases are on the rise in nearly 90% of U.S. jurisdictions, and we are seeing outbreaks in parts of the country that have low vaccination coverage,” the CDC noted.
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In Hot Cities, Out-of-Town Buyers Are Pushing Home Prices up for Everyone
Personal Finance

It’s always tempting to fantasize about packing your bags, picking a spot on the map and starting over in a new city.But in 2021, that daydream requires deep pockets: A recent Redfin report shows that people who move from out of town into hot cities tend to pay more for their houses than locals do.Redfin crunched the numbers on 10 popular migration destinations, or locations that had the highest net inflow of people moving in during the second quarter, plus trendy Boise, Idaho. Of them, outsiders relocating to Austin, Texas, paid the highest premium over asking price. Typical out-of-towners there forked over 7.8% above asking price, while their local counterparts paid just 3.7% over.
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American Airlines’ warning, Simone Biles withdraws, Naomi Osaka out
Personal Finance

Julie Hyman breaks down Tuesday’s business headlines, including: American Airlines warning about a jet fuel shortage, and a South African port operator declaring “force majeure” after a cyber attack. In Olympics news, Simone Biles pulls out and Naomi Osaka is eliminated, as the Games see a 61% ratings jump.
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Walmart announces plan to pay 100% of college tuition and books for its associates
Personal Finance

In this articleIn an effort to help curb soaring student loan debts, Walmart announced Tuesday it will pay 100% of college tuition and book costs for its associates, starting Aug. 16.Walmart, the largest U.S. private employer, will drop its existing $1-per-day fee for associates who participate in its Live Better U education program.The company said it was inspired to adjust the terms of the program by changes in the economy and job market.More from Personal Finance: Tuition insurance may help cover costs if a student withdraws from college College plans rebound although cost is a top concern Hundreds of colleges say Covid vaccines will be mandatoryWith the new plan, Walmart plans to invest almost $1 billion over the next five years in career training and development for its employees.
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'We do expect GDP growth rates to slow over time...still, we have already exceeded pre-pandemic levels on GDP': Clearnomics Founder
Personal Finance

James Liu, Clearnomics Founder & CEO joined Yahoo FInance Live to break down the latest market action and how U.S. GDP will recover.
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