The latest on snarky tweets, pricey extracurriculars, and getting hired sans degree
Here are some favorite personal finance reads from around the web this week.
Chase got trashed on Twitter for promoting penny-pinching. The bank wasn’t wrong. It wasn’t right, either.
—The Washington Post
JPMorgan Chase got into hot water recently when it tweeted that customers should use budget-saving measures like forgoing cab rides and making coffee at home. The Washington Post argues that, while the tweet sounded tone-deaf to people struggling to earn livable wages, it’s still good advice for those living beyond their means.
In a CompareCards.com survey, 90% of parents who spent at least $4,000 on their children’s extracurricular activities believe it will lead to a scholarship or a professional career. Yet in the same survey, 62% of those parents have gone into debt to pay for sports and music programs or other passion projects.
—The New York Times
Many people skip college to pick up a trade. Many can’t afford college. Where can they get well-paying jobs that do not require a college degree? The New York Times breaks down how and where to find such positions.
One in four millennials say social media posts are the reason they spend money they weren’t intending to, according to a recent LendingClub survey. LendingClub attributes the behavior to “YOLO spending”: pressure to buy something others have or to reach for an aspirational lifestyle.
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Does the Consumer Financial Protection Bureau really have your back? The agency recently announced it will provide more detailed investigative subpoenas to companies they are probing. But consumer advocates say the new rule offers unethical companies a road map for concealing or destroying evidence of their own predatory behavior.
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