Your Money New York Financial Commentary
- As the economy continues to sputter along, it’s becoming more and more important to make wise decisions with our money. And it’s becoming more and more important to give young New Yorkers a financial education at an early age. Young people are quickly becoming one of the largest markets for credit card companies. An April report by Sallie Mae found that the average college undergraduate carried more than $3000 in credit card debt last year. In this economy, the last thing young people need is a financial ball and chain around their legs just as they are starting out on their own. Read more.
- Right now may not seem like the best time to invest money in the stock market, but depending on your individual circumstances, the flexibility of New York’s 529 college savings plan program offers some appealing investment options that could provide long-term benefits. For those with young children, you could be looking at an investment horizon of fifteen years or more. While investing more aggressively in stocks exposes you to more risk, it also gives you an opportunity to buy more shares at a lower cost. Those who buy stocks now are in a better position to benefit from future upturns. Read more.
- President Obama’s call for greater consumer financial services and information protection are important steps toward helping families build long-term financial security.
So much of what has happened to our economy is the result of decisions made in the shadows. We were sold a bill of goods by financial service firms looking to game the system and make a quick buck with total disregard for the risk to individual investors and the entire American economy.This cannot happen again, and there are two important steps to make sure it doesn’t. Read more.
- All across the State, New Yorkers are hoping that President Obama’s federal stimulus package will help fix the crumbling economy and get New York back on the right track. But it’s important for New Yorkers not to view the stimulus as simply a bailout. The right choices can help our state use the stimulus plan as a stepping stone toward a better New York. Read more.
- In this challenging economy, families throughout New York are seeking new strategies to survive this period of financial uncertainty. New Yorkers are resilient, and while tough times are upon us, we have the strength and capacity to emerge from this recession stronger than ever. It won’t happen overnight, but it will happen; we will bounce back. Read more.
- Whether you’re a new college graduate tallying your total tuition costs and getting ready to start repaying student loans or you’re part of a family that’s getting ready to send a recent high school grad off to college, New Yorkers are all too aware of the ever increasing cost of a college education. Read more.
