Category: Economics

Student Loan Interest Rates Double!

On July 1, 2013, the interest rate charged to college student borrowers doubled to 6.8% from 3.4%.  This increase relates to those students who are planning to obtain a Stafford loan, which is federally subsidized.  CNNMoney indicates that this will affect 7 million college students, as such loans are awarded to approximately one-third of undergraduate …

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Distribution of world’s 12 million millionaires still favors U.S.

The Economist’s chart of the day shows millionaire population counts for the twelve countries that boast the most millionaires (measured in USD). The United States dominates this comparison, with 3.4 million millionaires, nearly twice the number of millionaires in the second place country, Japan. Of the BRIC countries (Brazil, Russia, India, and China), which many …

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Permanent link to this article: http://betweenthenumbers.net/2013/06/distribution-of-worlds-12-million-millionaires/

Time to start teaching basic personal finance in high schools

A recent survey discussed here found that a surprising number of college graduates regret their decision to attend college. Not that it wasn’t lots of fun. Plenty of that. Not that lectures lacked stimulating learning. Ample stimulation. It was all good, just obscenely overpriced. The world has no shortage of buyer’s remorse. But typically the …

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U.S. Still No. 1 in Income and Housing

The U.S. has been enduring its fair share of criticisms, with government entities going broke and facing significant cuts, the education system declining, high unemployment rates, and the political system being the ridiculed.  Recently, the Organization for Economic Cooperation and Development (OECD) released its 2013 “better life index”.  The survey covers 34 countries and ranks …

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Top Ten Reasons to Be Optimistic About Housing

The California Association of Realtors (C.A.R) recently published the “Top Ten Reasons: To be optimistic about the housing market”.  The following are the ten reasons: Home values have been rising. More new households are forming. Foreclosure starts are falling into pre-housing-bust levels. Interest rates should remain low through next year’s selling season. Loan demand for …

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The painful post-graduation hangover not from last night’s party

College grads are waking up the day after graduation to a nasty hangover and stinging slap of reality. Yes, the last four years were a fantastic experience. But, wow, they were expensive. Some recent betweenthenumbers posts have explored the cost-benefit tradeoff of a college education (see here and here). Researchers are not the only ones who are …

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Can the winner(s) of the Powerball lottery choose to be $223.1 million poorer?

Things are starting to heat up again, and I’m not referring to the scorching pre-summer heat! The Powerball Lottery, played in 43 states, is approaching all-time highs. Saturday’s drawing is estimated at $600 million and gearing up to be the second-largest jackpot in US history. According to the Powerball Lottery, the odds of winning this …

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Sports cars, 3D televisions, and education

Sports cars and 3D televisions are unprofitable investments.  They cost money at the outset and keep draining cash thereafter.  So why would anyone want to invest in such things?  Easy: sports cars and TVs are more concerned with pleasure and satisfaction than they are with financial return.  Recognizing this, it seems odd to even characterize …

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Student Loans are Restricting Other Spending

The cost of attending college is rapidly increasing.  The job market is recovering, but is still weak for college graduates.  Students have been forced to take large amounts of debt out to finance their education.  The burden had caused these students to delay retirement savings, purchasing real-estate, buying a car, and getting married.  CNN Money …

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Geniuses and dropouts must ask: is college worth it?

More school is not for everyone. In 1973, Paul Simon–the son of a college professor and elementary school teacher–recorded a lesser known song called “Kodachrome” with the lyrics: “When I think back on all the crap I’ve learned in high school It’s a wonder I can think at all Though my lack of education hasn’t …

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