Investing and Global Finance News

Category Archives: Uncategorized

Budgeting in a Crisis: Dos and Don’ts

Budgeting in a Crisis: Dos and Don’ts

It may seem strange to suggest a budget overhaul at a time of so much uncertainty. But that is exactly when these kinds of changes can be most beneficial and impactful.

In general, many regular expenses have ceased to be a concern during the corona pandemic. There are virtually no restaurant meals, mani-pedis, or gym classes happening right now. But that money really isn’t enough to navigate unemployment or a recession.  Here are a few tips on saving during a crisis:

Tackle the Two at the Top

Intentionally review your budget and find the three biggest expenses. For most people, these will be housing, transportation, and food. Then decide on two of these expenses that can be reduced or revamped. Car owners should consider reducing or even canceling the insurance for cars they aren’t using. Decide on a few low-cost local takeout menus and order as a treat, not as a default dinner option. Homeowners who have good credit and are still lucky enough to have steady incomes should consider refinancing their mortgage while rates are low. Tenants with a rental lease should talk with their landlords and negotiate an arrangement that makes sense for both parties.

Be Deliberate about Saving

A crisis is not the time to undertake a major D.I.Y. home renovation. Nor is it the time to buy the fancy cooking equipment to indulge a gourmet cooking hobby. It is the time to invest in health and fitness, including financial wellbeing. Money saved should be traceable and accounted for.

Need vs. Want

In times of crisis, most people evaluate what is really important to them. But when it comes to making money decisions, the lines between need and want can be hard to draw. Review all the “essentials” like cable subscriptions (opt for streaming platforms), birthday gifts (call and/or send a handmade gift), date nights (do them at home for a fraction of the cost) and modify accordingly.

Speak Up

Most service providers would much rather retain a customer at a lower monthly rate than lose that customer entirely. Consumers who need to cut costs should contact providers and discuss alternatives. While some restructuring might incur interest or finance charges, many companies are waving those now too.

Keep What is Critical

Home repairs are inevitable. The fridge doesn’t know there is a global pandemic; the roof isn’t aware of the economic recession. Make sure there is enough money in the budget for these maintenance jobs. Don’t remove or reduce comprehensive car insurance; hold on to life insurance policies that can be a hassle to restore if canceled. should be preserved. The critical should also include at least one “Happy” to keep as well. Don’t wipe out every joyful budget line. Make sure to “splurge” on at least one thing that makes corona, quarantine, and social distancing more manageable.

Bicycle Shops: A NYC Essential Business

While most of New York City’s businesses have ceased or slowed operations during the novel coronavirus pandemic, Mayor de Blasio designated bike shops as an essential business allowed to remain open. More people have taken up cycling as their transportation method of choice, rather than risk infection on subways and buses. For these commuters, cycling… Continue Reading

Using Tech to Breath Better

Residents in the tri-state area can take a deep- and clean(er)- breath in the coming year. OpenAQ is making sure of that! The open-source platform gathers air quality data from governments and international organizations in one site; it is all free and accessible to everyone. It is also cultivating a community of activists, scientists, and… Continue Reading

NYC Companies Merge to create Wall Street’s largest woman- and minority-owned firm

The merger of the Siebert Cisneros Shank & Co. and the Williams Capital Group investment banks are merging to form Wall Street’s largest woman- and minority-owned firm. The new entity will be led by Chief Executive Suzanne Shank, who is describing the move as a merger of equals. Shank is the only African-American woman to run a… Continue Reading

Are Hedge Funds Still Profitable?

While there have unquestionably been some negative yields indicating poor hedge fund performance, the word on the street is that some of this is, “misleading.” According to Legal & General Investment Management head of asset allocation, Emiel van den Heiligenberg: “There are ways of making money from it.”  The question is, how?  Outside of Europe, hedge fund… Continue Reading

US Markets, Jobs, Economy

How is the US faring right now vis-à-vis markets, jobs and the overall economy? Unfortunately the anticipated increase in private payrolls by Dow Jones was not met (173,000 being the expectation; 129,000 the result).  According to Moody’s Analytics Chief Economist Mark Zandi: “The job market is weakening, with employment gains slowing significantly across most industries… Continue Reading

US Citizens: Measuring Quality of Life

There are many ways to measure the success of a country.  One way is to look at quality of life.  According to a recent article, this has actually improved in America quite significantly over the last two years.  While it cannot be denied that there is a lot of anti-Trump sentiment in America, the statistics… Continue Reading

M&A News

The acquisition by Principal Financial Group of RobustWealth is happening.  With both corporations working together on the deal for nearly a year, the details are that in the deal, RobustWealth will “retain its open architecture philosophy and operate independently under a management committee within Principal [and] will continue to sell their platform to firms outside… Continue Reading

Optimism on America’s Economic Strength

In this video, FOX Business Network presenter discusses the solidity of the current US market.  He points out that the 10-year treasury yield is standing at 2.99% and discusses the industry with Chief Economist at Moody, Mark Zandi. Zandi emphasizes the importance of a strong economy (businesses need to be able to sell what they… Continue Reading