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More Wealth for the Wealthy
A recent Pew Research study found that during the first two years of the economic recovery the gap between the have and have-not’s continued to widen, reports The Washington Post’s Michael Fletcher.
The upper 7 percent of American households saw their average net worth increase 28 percent, while the wealth of the other 93 percent declined 4 percent.
From 2009 to 2011, the average net worth of the nation’s 8 million most affluent households jumped from an estimated $2.7 million to $3.2 million, according to the report, “A Rise in Wealth for the Wealthy; Declines for the Lower 93%: An Uneven Recovery, 2009-2011,” by Richard Fry and Paul Taylor.
For the 111 million households that form the bottom 93 percent, average net worth fell $140,000 to an estimated $134,000, the report said.
“The uneven recovery has only accelerated a decades-long trend of growing wealth inequality in the country, despite rising popular and political awareness of the dynamic,” Fletcher writes.
What’s different about how the wealthy handle their money and how the rest of America handles theirs, according to Pew?
The wealthy concentrate their money in stocks and other financial instruments, while the not-so-wealthy invest in the value of their homes.
Didn’t both stocks and home values get hammered during the recession? , you might ask.
Yes, they did. But, as Fletcher points out, “in the recovery, stock values have rebounded nicely and have reached new highs. Housing values — particularly for those living in nonexclusive areas — have stayed mostly flat, although there have been some stirrings of a recovery in the past year.”
Courting With Coupons
When dating, when is the right time to bring coupons into your relationship?
Kiplinger Magazine’s Cameron Huddleston puts that question to the masses in response to a survey by coupon Web site Coupon Cabin, which found that 26 percent of adults have used a coupon on a first date.
But 12 percent of survey respondents said that if a coupon were used on the first date it would be the last date. Three percent said they would be offended if their date used a coupon, and just 1 percent said they would walk out and leave the date, Huddleston reports.
Natalie McNeal, editor of TheFrugalista.com, tells Huddleston that “you shouldn’t take a date to a restaurant that you can’t afford without a coupon.”
Instead choose a place with prices that fit your budget, McNeal advises. Check out her tips for coupon dating.
I’m curious: Would you walk out on a date if the guy or woman used a coupon? If so, why?
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Family Financial Fights
I am still looking for family financial stores.
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Tia Lewis contributed to this report.