Financial Friday Round-Up: July 13 – July 17, 2020
Welcome to the Financial Friday Round-Up, where we scour the web for the best things to read, watch, or listen to regarding finance every week. Below you’ll find a guide to creating a minimalist budget, news about the latest stimulus package, and how mortgage rates have hit a historic low.
Whether you have been especially strapped for finances lately or you just want to try something new, the minimalist budget as described by Sarah Li Cain in Consumerism Commentary is worth trying out yourself. The concept is simple enough — spend as little as possible while still saving for important goals like retirement — and the article provides links to important apps and tools that can help you along the way. By focusing on your spending and paring down your expenses to the bare minimum, you can make your money last a lot longer than you would expect.
A reminder on the importance of communicating honestly and effectively came from Bloomberg this week. By talking to crisis communication professionals, writer Arianne Cohen narrowed down four key takeaways to help you keep everyone on your team confident and informed.
The House of Representatives successfully passed the next round of stimulus checks this week to relieve Americans who were negatively impacted by COVID-19. This relief will look similar to those that went out this April, with one notable change: “where the first $1,200 stimulus check provided $500 for children, this second round provides the same $1,200 for all eligible members of a household, including children, up to a maximum $6,000 in payments for a family.” The bill will still have to pass through the Senate to be put into effect.
30-year fixed mortgage rates hit a historic benchmark this week when they fell to 2.98%, the lowest they have been in almost 50 years. While this may be a complicated time to navigate buying a home, those who are looking to set out into the market are likely to find higher prices, but more room in their budgets and a speedier purchasing timeline, according to the Wall Street Journal.
Check out our other Financial Friday Round-Up posts for more great reads!