Daily Reads 6/11/2019
Hi, everyone. In today’s news, we see that H&R Block is exploring growth into the small business market through the acquisition of Wave. A new study shows a shocking eighty percent of employees are stressed about money. And just when you though the wealthy knew everything about money, new statistics show that many struggle with financial literacy. And learn why homeowners are putting off remodeling projects. And we read about how Stephen Moore argues for a Fed rate cut to boost inflation.
It was announced Tuesday that H&R Block has entered into a definitive agreement to acquire Wave, as part of the large financial institution’s strategy to pursue new growth opportunities and grow into the small business market.
Much has been said about the burden that comes with the rising cost of living and the surge in consumer debt. With the majority of workers carrying personal financial stress into the workplace, payday can be a source of anxiety when compensation doesn’t meet their lifestyle and financial needs.
Advisors spend hours educating clients about financial wellness, but it’s still not enough. Many are uninsured or underinsured, are living paycheck to paycheck and struggle with basic financial literacy.
With homeowners staying in their homes longer these days, it’s no surprise that they’ve dropped a lot of cash on big-ticket home improvements in recent years.
In a response to the president’s tweet, Moore initially laughed, saying that “he’s not supposed to put that up.” Then Moore said, “I agree with him. You’ve got a perfect picture right now: You’ve got very low inflation, low interest rates, the tax cut.” He added, “What’s not to like about this picture?”