Share to Twitter Share to Linkedin Would you be surprised to learn that more than a third of adults in the U.S. say they have lied to a partner about their finances? According to a recent study , this includes everything from stretching the truth about spending, to job-related earnings, and the value of savings and investment accounts. The study by Forbes Advisor and Prolific that found that: 38% of adults have lied to a partner about their finances Women are more likely to lie about their savings than men Men are more likely to lie about investments than women However, 54% of the men and women surveyed did agree that lying about finances is equivalent to other kinds of lying or infidelity. And 70% believe that someone saying they have more money than they actually do is more egregious than someone saying they have less than they do. Below is the percentage of survey respondents who say they have lied about their finances and which topics … [Read more...] about Are You Guilty Of Financial Infidelity?
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What’s happening with GameStop? The retailer’s stock price is on the rise after surprise profit
It’s game on for GameStop shares this morning. As of the time of this writing, GME stock is up over 51% in premarket trading, taking the share price to $26.70—its highest point since November 2022. The reason? On Tuesday, GameStop posted a quarterly profit for the first time in two years. And it was for the all-important holiday quarter in which investors had hoped that parents would rush out to GameStop locations to get presents for under the tree. But it doesn’t seem that scenario played out as much as hoped, given net sales were actually down year-over-year in Q4 2022 to $2.226 billion (from $2.254 billion a year before). However, net income was actually up year-over-year. During the quarter, GameStop’s income reached $48.2 million. The rising profits were helped in part by lowering expenses. And sure, $48.2 million is a pittance for many larger companies, but a year earlier, GameStop had seen a Q4 net loss of $147.5 million. In other words, the company turned … [Read more...] about What’s happening with GameStop? The retailer’s stock price is on the rise after surprise profit
Want To Decrease The Gender Pay Gap? Use Facts, Not Feelings
Share to Twitter Share to Linkedin I had the honor of attending the Forbes Equal Pay Forum a few days ago where the main topic of conversation was—you guessed it—the gender pay gap. Women are still earning 82% of what men do , up from 80% in 2002 . Although many ideas emerged during the forum, the discussion centered on how to systemically narrow or eliminate this gap. These changes take time, evidenced by the mere 2% increase over the past two decades. So, until companies begin to implement real strategic initiatives to combat this gap, women must take matters into their own hands and demand a pay increase. Many factors contribute to the gender pay gap: pure discrimination which excludes women from higher paying occupations, or socialization, which makes us more likely to seek these jobs; women do more part-time work which pays less; and more women fall into the “agreeable” personality type , which earns $11,300 less than their more confident … [Read more...] about Want To Decrease The Gender Pay Gap? Use Facts, Not Feelings
How You Can Financially Thrive And Survive A Layoff
Share to Twitter Share to Linkedin Spring is in the air–and so, apparently, are corporate layoffs. Companies including Microsoft Corp, Amazon, Meta, Pepsi, Boeing, Disney and Goldman Sachs Group have cut thousands of jobs. The information sector, which includes many tech workers, saw employment decline for the third straight month, by 25,000. Finance and insurance, which are affected by rising interest rates, saw a decline of 10,000 jobs to 6.7 million. Wall Street economists began 2023 anticipating a recession by midyear. If that happens, layoffs would almost certainly increase. I have some advice on important steps to take now, even before you get that dreaded layoff notice. Get organized– As soon as you suspect that a layoff is in the picture, start analyzing your finances, medical needs and job skills. That includes looking at your spending to see how you can cut back. If you don’t already follow a budget, you can get started with … [Read more...] about How You Can Financially Thrive And Survive A Layoff
How Terry Eaton Turned His Passion Into A Thriving Business
Share to Twitter Share to Linkedin Terry Eaton is the founder, president and chief curator of Eaton Fine Art . He’s has collaborated with some of the world’s most prestigious hotels to guide their art programs, including The Cosmopolitan in Las Vegas, The Palace Hotel in San Francisco and The Four Seasons Los Angeles in Beverly Hills. Terry Eaton of Eaton Fine Art Eaton Fine Art Eaton, along with his husband who is also his business partner and The Eaton Team “infuse creative soul into guest rooms and public spaces alike” with their mastery of art. They serve as the premier innovative art resource for developers, brand leaders, interior designers and purchasing agents producing the art programs for hospitality and healthcare-related projects in the US and internationally. On this episode of Queer Money ® , Eaton shares how he turned his passion into a thriving business and advice for today’s budding queer entrepreneurs. … [Read more...] about How Terry Eaton Turned His Passion Into A Thriving Business
11 Circumstances Where Investors Should Consider A Major Portfolio Overhaul
Share to Twitter Share to Linkedin Investing in the stock market can be a roller coaster ride, with unpredictable highs and lows that can test the nerves of even the most experienced investors. In times of uncertainty, it's often tempting to follow the advice of financial experts and "stay the course," avoiding knee-jerk reactions and sticking to a long-term investment plan. However, there are circumstances when investors should consider a significant portfolio overhaul to protect their assets and take advantage of emerging opportunities. To that end, 11 Forbes Finance Council members explain some key signs and circumstances that should prompt investors to consider making significant changes to their investment portfolio. 1. Asset Allocation Strategies Need Optimization When the economy and markets enter a “new normal,” investors should take a fresh look at their overall asset allocation strategies. Factors such as inflation, interest rates, … [Read more...] about 11 Circumstances Where Investors Should Consider A Major Portfolio Overhaul
After SVB’s collapse, banks and fintechs look to beef up FDIC insurance
When Silicon Valley Bank failed earlier this month , it sent a shot across the banking sector’s bow—and a message to investors and depositors that the financial sector may be taking on water. In response, alternative banks and financial technology companies are easing fears by increasing FDIC insurance for depositors. Mercury, a fintech company that offers banking services through its partners, Choice Financial Group and Evolve Bank & Trust, recently announced to its customers that it was offering depositors additional FDIC insurance, up to a maximum of $5 million, well above the traditional $250,000 limit. In an email, Mercury’s team said that the way the company was able to “offer customers this expanded FDIC coverage is through our partner banks’ sweep networks, which spread customer deposits across a network of established FDIC-insured program banks.” The list of banks includes Wells Fargo, Goldman Sachs, and Morgan Stanley. In effect, Mercury is giving … [Read more...] about After SVB’s collapse, banks and fintechs look to beef up FDIC insurance
The real reason more women and people of color suffer from imposter syndrome
When you’re growing up, you progressively get more confident in your ability to do difficult things: read a harder book, play a tougher sport, or join the conversation at the grown-ups’ table. But anyone who’s been a teenager knows that learning and confidence curves are not linear—nor do they always run in parallel. In fact, for many people, the more you progress, the more you start to question your achievements. “Is it really because I’m talented? Or is it just luck, over-preparation, or even privilege?” somebody . I didn’t necessarily question whether I belonged, but I definitely felt intimidated by the atmosphere and the accomplishments of all of my classmates. It felt like everyone was always one step ahead of me, which led to a lot of self-questioning at night while living away from home at the age of 15. When I went to Yale, I encountered a variation on this theme. I always had this thought that people perceived me as a basketball player first and a student … [Read more...] about The real reason more women and people of color suffer from imposter syndrome
IMF staff reaches agreement with Ukraine for $15.6-B program
WASHINGTON -The International Monetary Fund said on Tuesday it has reached a staff-level agreement with Ukraine for a four-year financing package worth about $15.6 billion, offering the country needed funds as it continues its battle against Russia’s invasion. The agreement, which must still be ratified by the IMF’s board, follows months of negotiations between IMF staff and Ukrainian authorities. The IMF said its executive board is expected to discuss approval in the coming weeks. IMF staff briefed board members on the agreement – which would be Ukraine’s biggest loan package since Russia’s full-scale invasion on Feb. 24, 2022 – on Tuesday, and the board was supportive, a source familiar with the matter said. The global lender said the agreement is expected to help unleash large-scale financing for Ukraine from international donors and partners, but gave no details. Typically IMF loans unlock support from the World Bank and other lenders. “A gradual economic recovery is … [Read more...] about IMF staff reaches agreement with Ukraine for $15.6-B program
Asian Development Bank vows more help for crisis-hit Sri Lanka
MANILA/TOKYO – The Asian Development Bank (ADB) is ready to provide further financial support to Sri Lanka, a top official of the regional lender said on Tuesday, as the Indian Ocean nation battles its worst economic crisis in more than seven decades. The remarks came after an ADB pact this month for an emergency loan of $200 million to ensure access to food and protect livelihoods after months of shortages of key essential items which sparked protests that forced out the president. “As a key long-term partner, the ADB stands ready to provide further support,” the bank’s president, Masatsugu Asakawa, told reporters at its annual gathering. Sri Lanka’s economy has contracted and it is suffering from very high inflation severely affecting living standards, Asakawa said. The annual figure exceeded 70 percent in August. “So we are working closely with the government in supporting the country in this challenging time,” he added. Asakawa said he was confident Colombo was working to … [Read more...] about Asian Development Bank vows more help for crisis-hit Sri Lanka