Currentcy

Posted on Feb 4th, 2015 | Budgeting, Career, College, Credit, Debt, Home life, Investing, Savings

We won’t be surprised if you haven’t heard these stories in the media, but they’re important because they impact our young, thin wallets.

The Dog Days Are Not Over

You’re enjoying a hard-earned, $100 million fortune for your brilliant writing career. The next thing you know, you’ve got terminal cancer. What do you do with your money? If you’re Sam Simon, the 59-year-old co-creator of The Simpsons, you give it all to charity – your charity. The Sam Simon Foundation focuses on the rehabilitation, rescue, and adoption of man’s four-legged best friend. In an interview with NBC in November, Simon said his motivation for giving away his wealth is "selfish," but beneficiaries say it gives them a new leash on life.

Free Labor For Sale

When it comes down to landing your dream gig, paid interns make quite a bit more money when they get a regular job than those who worked at unpaid internships, according to the National Association of Colleges and Employers 2013 Student Survey. Even worse, nonpaid in- terns actually make less than applicants who never interned at all. The moral of this story? If the internship doesn’t pay, it’s better not to intern at all.

Duds Becoming Duds

Abercrombie, Aeropostale, and American Eagle used to be the popular kids, but things are get- ting a little rough for these clothing companies on Wall Street. Vox.com has it figured out: Teens are spending and working less, and there’s been a cultural shift in emphasis from clothes and cars to electronics. This consumer shift is a swift punch in the gut for mid-priced malls, but stores with more competitive (read: cheap) prices are holding their gloves high.

The Wage-Gap Millennial

According to a Wells Fargo survey, 68% of Millennials are optimistic about their financial futures and believe they will be better off than their parents, even before they retire. That chipper attitude may come in handy when this generation tackles the widening wage gap and disappearing middle class.

College Kids: 1, Bank: 0

After years of alleged deceptive and unfair fee practices, the FDIC announced settlements with payment-card provider Higher One Inc. and card issuer Bancorp Bank in August 2014. Students using this service complained about multiple nonsufficient funds (overdraft) fees for single transactions and claimed the company allowed accounts to remain overdrawn for long periods of time to rack up more fees. The settlement includes an $11 million payout to roughly 60,000 students on college campuses across the U.S. Higher One also has to shape up its act when or other material. According to the Department of Education, 59% of first-time under- graduate students take as long as six years to graduate, rather than adhering to the four- year standard. The reasons for this change are widely varied, from internships demanding too much school time to overcrowded class- rooms. That’s why it’s always important to make friends with the mascot. He’ll always be there. it comes to honestly portraying fees in marketing or other material.

Six Is The New Four

According to the Department of Education, 59% of first-time undergraduate students take as long as six years to graduate, rather than adhering to the four- year standard. The reasons for this change are widely varied, from internships demanding too much school time to overcrowded class- rooms. That’s why it’s always important to make friends with the mascot. He’ll always be there.

Internet: The Middle Wall Street

Investments aren’t only for Wall Street bigwigs anymore, and they don’t belong solely to the bull- headed buyer. With his startup, Aspiration, Andrei Cherny is offering investors a "Pay What Is Fair" option on portfolios, in which individuals can pay as little or as much as they want to maintain their accounts. The change in platform is what Cherny hopes may give rise to a more invested middle class.