Keeping a tab on financial health can be tricky at times. Erin Lowry, Author of "Broke Millennial", joined us at the New York Stock Exchange to share some tips for getting personal finances in order.
Only 12% of millennials feel prepared for their financial future. Lowry breaks down steps people can take to improve their financial health. She recommends using the app Turbo, which gives you a holistic approach to keeping track of your financials.
55% of people served by Turbo don’t feel credit score is a good indicator of financial standing. Lowry says it’s a piece of the puzzle, but it’s not the end-all-be-all. She adds that the debt-to-income ratio is a good metric to go alongside credit score. Lowry says Intuit’s Turbo app is a good option for staying on top of personal finances in a digital and mobile age.
Tom McNeela, chief RIA solutions officer with RetireOne, joined Cheddar News to explain how people can use their life insurance policies for an emergency loan. "There's a lot of advantages and opportunities with permanent life insurance policy," he said, "if you have one, and there's cash value in there, you can take a loan out, and most of the time, it's a better rate than what you can get at your bank."
Cheddar News checks in on The Day Ahead as more earnings are on tap from companies Thursday including Apple, Lyft, Kellogg and Expedia while Vice President is expected to meet with some top tech CEOs to discuss the rapid development of artificial intelligence.
Meta is warning that cybercriminals are tricking people into downloading programs that can steal valuable information on fake ChatGPT offers. Cheddar News explains how Meta has observed hundreds of malicious links on its platform.
The 11,500 members of the Writers Guild of America went on strike this week after negotiations with Hollywood studios that began in March failed to result in an agreement.
Will McDonough, founder and CEO of EMG Advisors, joined Cheddar News to discuss Wednesday's trading session after the Federal Reserve raised rates by 0.25% as tighter credit conditions continue to affect small- and medium-sized businesses.
