The latest on America’s waning consumer protections and allowance from your parents…as an adult
Here are some favorite personal finance reads from around the web this week.
America’s whittling away of consumer protections
—The Atlantic
The CFPB continues its dismantlement under acting director Mick Mulvaney, who has made it clear that consumer protections are not his priority. Such blanket deregulation will only hurt citizens, not help them.
I’m 34 and my parents still give me a clothing allowance
—The Cut
A fascinating confession by a 34-year-old on what happens when families disagree on wants vs. needs—and how that led to a $20k shopping allowance from her parents. Regardless of how I feel about this arrangement, I commend her for talking openly about money with her parents and her husband—and now with the rest of us.
Why are college costs less clear than car prices?
—Los Angeles Times
This is outrageous. A third of financial aid letters reviewed by New America and uAspire did not include the total price of college (including fees, room and board) at all and many failed to distinguish between grant money and loans—making higher ed costs hard for families to understand.
Everything we thought we knew about the gig economy is wrong
—Quartz
It turns out that the gig economy may be shrinking rather than growing. That doesn’t change my fundamental view: that we need to ensure adequate benefits and protections for contractors and freelancers.
Craving more financial finds? Here are my latest blog posts!
Not one of those early retirement people? Don’t beat yourself up.
Chances are you’re not able or willing to live the life of deprivation that’s seemingly necessary to become a 40-year-old retiree. But it wouldn’t hurt to take a page or two from the playbook of the FIRE (financial independence and retiring early) community.
Why brick-and-mortar banks still matter
Opening your kid’s first bank account is a rite of passage and teachable moment rolled into one. Here’s how to find a bank and make the most of out of the visit.
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