That is up “quite a bit” from about 40% of respondents who said the same two years ago, according to Dave Goodsell, executive director of the Natixis Center for Investor Insight.

The results come as research from the firm shows the U.S. has improved its overall score for retirement security compared to last year, with 71% versus 69% in 2022.

Most of the 44 countries included in the firm’s ranking also received higher overall scores compared to last year.

The post 47% of Americans Say Achieving Retirement Security Will Take a Miracle appeared on Personal Finance News.

Despite the growth of this digital asset, many would-be investors remain unsure as to which cryptocurrency to invest in. From Bitcoin and Ethereum to XRP and Dogecoin, navigating the financial aspects while keeping abreast of the technicalities can be challenging. In this article, we have outlined some of the key things to consider when choosing which cryptocurrency to invest in.

Market Capitalisation

When investing in cryptocurrency, choosing one with a high market capitalization is a good place to start. Market capitalization is an indicator of a coin’s overall value and is calculated by multiplying the total number of coins in circulation by the current market price of the coin. Coins are placed into one of three categories, depending on their total market capitalization, as follows:

• Small-cap: Small-cap cryptocurrencies are typically newer and less established. They can be volatile but can offer higher growth potential.
• Mid-cap: Mid-cap coins offer a balance between growth potential and stability.
• Large-cap: Large-cap cryptocurrencies are usually well-established, less volatile, and considered safer investments, although with potentially slower growth compared to smaller counterparts.

Coin Supply

Economic principles state that the more scarce the supply of something the higher its value. When considering which coin to invest in, find out whether the supply is limited and how many coins are currently in circulation as this will impact the price of the coin in the long term. 

For example, Bitcoin has a total cap of 21 million coins, after which no more coins will be mined. As the demand for Bitcoin increases while its supply remains limited, it will lead to an increase in its price.  It’s important to differentiate between coins with limited supplies, like Bitcoin, and those with unlimited supplies, such as Ethereum and Solana.  You can find out the value of 1 SOL to USD here.

White Papers

Each cryptocurrency has a white paper which contains key details about the coin. Much like a business plan, it outlines the project’s goals, technology, functionality, and vision. Some of the details contained in a professional cryptocurrency whitepaper include:

• Vision: What the project should achieve and how will its users be helped.  
• Team: Profiles of important team members are listed along with their track record and relevant industry experience.
• Partnerships and advisors: Details of early-stage investors and key advisors including their track record, qualifications and experience.
• Technology: Detailed explanations of the underlying blockchain technology, consensus mechanisms, and any technical innovations or improvement.
• Token economy: Details about the cryptocurrency’s token, including its supply, distribution, and how it will be used within the ecosystem.
• Use cases: Information on the practical applications and real-world scenarios where the cryptocurrency or blockchain can be employed.

In this way, the information contained in a white paper provides legitimacy to the coin. 

By taking these factors into consideration, you can make an informed and wise decision when choosing which cryptocurrency to invest in.

The post Which Cryptocurrency Should You Invest In? appeared on Personal Finance News.

As of today, Apple is going to offer an APY of 4.15%. It looks like a competitive offering when you look at data from Bankrate — you can currently find savings accounts that offer an APY of 3.5% to 4.75%. The company isn’t making any promise when it comes to future interest rates. It could go up and down at any time.

Apple has partnered with Goldman Sachs once again for the banking feature. Savings accounts are technically managed by Goldman Sachs, which means that balances are covered by the Federal Deposit Insurance Corporation (FDIC).

This high-yield savings account has been created specifically for Apple Card customers. When customers pay with their Apple Card, they get cash back on all purchases. By default, all purchases grant you 1% in cash rewards and 2% for all purchases made using Apple Pay. Purchases with select merchants unlock 3% in rewards.

The post <a href="https://apple.slashdot.org/story/23/04/17/1720227/apple-launches-apple-cards-savings-accounts-with-415-interest-rate">Apple Launches Apple Card’s Savings Accounts With 4.15% Interest Rate</a> appeared on Personal Finance News.

Buy now, pay later — referred to in the payments industry as BNPL — is a new spin on the concept of layaway. It allows consumers to get the product up front, divide their payment into installments paid over a longer period with little or no interest — as long as the make the payments on time. Common BNPL options include Afterpay, Klarna, Affirm, PayPal and Zip.

In the first two months of 2023, the share of online grocery orders made using buy now, pay later grew by 40% compared with the same period a year ago, according to new data released by Adobe Analytics this week.

The overall rise in BNPL online orders, meanwhile, grew by 10% over the same period, and overall online BNPL revenue fell by 19%, meaning the average dollar amount for each order fell. This trend may be partly due to the fact that Americans are simply spending more money on groceries online. Online grocery spending grew by nearly 27% year over year to $8.4 billion in February.

The post More Americans Are Using ‘Buy Now, Pay Later’ Services To Pay for Groceries appeared on Personal Finance News.

They will give you offers for various amounts of money and differing coverage amounts. Luckily for you, there are 5 tips that will help you get the best value on a policy, so let’s jump right in and discuss them so you can get back to your day.

1. Bundle – If you have any other insurance policies, such as health and life, the best thing that you can do is bundle them all together under one large, all-encompassing umbrella policy. The great thing about this is that you will not only save money on your car insurance, but you will also see small savings on every policy you add to the group. It is a benefit that the insurance carrier will give to you for bringing them all the policies that you have. 
2. Discounts – Ask your agent to check for any discounts you may qualify for. Most of the time, they will not offer any of them unless you ask, so if there is something in your life that you feel may be important, such as being a part of a car club, ask to see if it is beneficial with your car insurance policy. The most that they can do is tell you no.
3. Compare – You want to compare insurance policies from many different carriers because they will never offer you the same coverage for the same price. The easiest way to find the best insurance companies is to go online and let a site that has already completed the research help you out. They will give you numerous options. All you will have to do is go through the ones the companies send you and pick the best out of the group.
4. Type – You need to sit down and think about the type of car insurance you need. It may not be necessary to get the best policy that you can unless you drive a high-end sports or luxury car. If you drive around in an older vehicle with a low value, it may not be in your best interests to have coverage other than the bottom levels required by the law. 
5. Deductibles – Check to see what the preset deductible amount is before you actually sign a contract. This number can be adjusted up or down, depending on how you want to approach it. The higher the deductible amount is set, the lower your premiums will be. However, when you adjust this number up, it makes it your responsibility to pay that much before the insurance company will hand over a check for the amount of the claim.

These 5 tips will help you get a great value on your next car insurance policy if you take the time to follow them. Being able to pay the least amount of money for a policy that covers what you need is one of the first steps to take when trying to cut down on costs. 

The insurance companies you find out there may not always have your best interest in mind, so make sure you know what you want and how much you can pay out for the premiums every 6 months. 

By the way, never pay the car insurance premium on a monthly basis because it will cost you more in the end. Always pay by 6 months or a year if it is an option. You can only save money on your insurance if you take the initiative and get the task done.

The post 5 Tips To Get The Best Value On An Insurance Policy appeared on Personal Finance News.

Even top earners have been struggling to make ends meet, the report found. Of those earning $200,000 or more, 36% reported living paycheck to paycheck, a jump from the previous month. 

Another recent survey, from consulting firm Willis Towers Watson, estimated 36% of those earning $100,000 or more said they were living paycheck to paycheck.

Taken together, this data shows Americans are shelling out more to cover their monthly expenses, making it increasingly difficult to make ends meet. As a result, they’re dipping into their cash reserves and nearly half are falling deeper in debt.

The post 61% Now Living Paycheck to Paycheck appeared on Personal Finance News.

That’s more than the 34% of workers who earn $50,000 to $100,000 a year who are living paycheck to paycheck, though lower than the 52% of paycheck-to-paycheck workers with incomes of less than $50,000, according to the survey.

However, the high earners are the only group that saw an increase in their paycheck-to-paycheck ranks in the last three years.

“Employees at higher pay levels aren’t immune to living paycheck to paycheck,” said Mark Smrecek, the financial wellbeing market leader for North America at Willis Towers Watson.

Willis Towers Watson polled 9,658 full-time employees from large and midsize private employers in December and January 2022, before the most recent inflation readings.

The post 36% Earning $100,000 or More Living Paycheck to Paycheck appeared on Personal Finance News.

As of March, close to two-thirds, or 64%, of the U.S. population was living paycheck to paycheck, just shy of the high of 65% in 2020, according to a LendingClub report.

“The number of people living paycheck to paycheck today is reminiscent of the early days of the pandemic and it has become the dominant lifestyle across income brackets,” said Anuj Nayar, LendingClub’s financial health officer.

Consumers who are struggling to afford their day-to-day lifestyle tend to rely more on credit cards and carry higher monthly balances making them financially vulnerable, the survey of more than 2,600 adults found.

The post Two-Thirds of Americans Live Paycheck to Paycheck appeared on Personal Finance News.

The average cost for a gallon of regular gasoline has surpassed $4 per gallon for the first time since 2008. Many consumers have seen prices at the gas pump rise swiftly, with the price of regular gas jumping 41 cents during the first full week of Russia’s war in Ukraine, according to AAA.

That will likely cost the typical household an additional $2,000 per year in gasoline costs, according to Yardeni Research in a Monday research note. That comes on top of about $1,000 in extra costs at the grocery store due to inflation, which means the typical household will have $3,000 less this year to spend on other items, Yardeni said. 

Consumers are fretting about the impact on their budgets — with some already planning to cut back on driving, and watching their spending. That could pose a threat to the pandemic’s economic rebound, given that personal consumption contributes about 70% of gross domestic product, according to the Federal Bank of St. Louis.

The post The Hit to Your Pocketbook From Higher Gasoline Prices: $2,000 a Year appeared on Personal Finance News.

Uber on Wednesday announced an option that lets you see a breakdown of how many drivers left you a one-star rating, a five-star rating and other ratings in between. Previously users of the ride share app were only able to see their average rating.

Finding the rating breakdown requires several steps. First, open the Settings menu of the app, tap Privacy and then Privacy Center. Once there, swipe to the right and click on the option: “would you like to see a summary of how you use Uber.” Next, scroll to the “browse your data” section and tap on “view my ratings.” (You can also access the information on Uber’s website.)

The goal of the new feature, according to Uber, is to offer customers a better understanding of their current rating, which is based on their most recent 500 trips on the platform, and to incentivize good behavior during rides.

The post Uber Now Lets You See How Many One-Star Ratings You Received From Drivers appeared on Personal Finance News.