In 2012, business leaders waited for the outcome of one uncertainty after another. As a result, it seemed the economic spark never got enough oxygen to really burst into flame, even though the fuel was there. The biggest contributor was the 2012 presidential election. It was a very close race between two candidates with radically … Read more
The fiscal year (FY) 2020 federal budget outlines US government revenue and spending from October 1, 2019, through September 30, 2020. Revenue was $3.42 trillion less than the $6.55 trillion in spending, creating a record $3.13 trillion deficit. The deficit is $2 trillion more than the $1.08 trillion budgeted. The president’s budget planned to spend … Read more
First-time homebuyers have a lot of new territory to navigate. Perhaps one of the most important changes to make after buying a house is to refocus your finances. After all, you’ll be facing new expenses like home maintenance costs and different utility bills, so it’s the ideal time to reshape your overall budget. Learn how … Read more
That’s the new record high price of a gallon of diesel—a fuel that powers the economy and influences the cost of most goods that travel to store shelves by trucks, ships, and trains. While the price of crude oil and related products has spiked since Russia invaded Ukraine, gasoline prices haven’t set any new records … Read more
The federal budget process is a plan used to create the US federal budget. The 1974 Budget Control Act established the process. The House originates spending bills, and the Senate amends them. The Budget Control Act centralized and consolidated this budget authority. The Budget Control Act The Act gave Congress three powers. First, it allows … Read more
A good credit score is important if you ever want to rent an apartment, buy a house or car, get auto insurance, or even purchase a cell phone. At 16, most of these major life steps might seem far away, but it’s never too early to start practicing good credit habits. Using a credit card … Read more
When a thief steals a car—which happened more than 880,595 times in 2020—it can do more than just ruin your day. If you don’t have proper insurance, it can also wreck your finances. Car insurance can help replace your automobile, while certain policies can pay to replace stuff like a cell phone, laptop, or designer … Read more
Merchants Insurance Group is a regional mutual insurance company founded in 1918 by Urban F. Jehle as a way to offer insurance to a group of local merchants for their delivery vehicles. From there, the company expanded to offer other lines of personal and business insurance. Subsidiary companies include Merchants Mutual Insurance Company and Merchants … Read more
Employee Deferrals Roth IRA Plan Type Employer sponsored Individually owned Eligibility Determined by plan Individuals with earned income up to income limits Contribution Limits $20,500 $6,000 Investments Menu selected by employer Wide array of options Loans Available Prohibited Required Minimum Distributions (RMDs) Forks No Plan Type Employee deferrals are part of employer-sponsored defined contribution plans … Read more
Wawanesa Insurance has been around the insurance world since 1896 in Canada, starting operations as a farmers’ mutual company in Wawanesa, Manitoba. The company branched out into the United States in 1975, and provides residents of California and Oregon with auto, renters, homeowners and condominium insurance, as well as identity theft services. Wawanesa’s US operations … Read more