It some of the latest news from CNN , there is a new story about how the Detroit pension will hit civilian workers harder than it would hit the rest. Detroit Pension.
apparently the story is centered around an individual by the name of Donald Smith who is now facing a drastic cut in the amount of his pension benefits. Now, getting close to a 5% reduction in benefits of any kind will lead to a lifestyle change of some type especially when an individual is relying on those defense in order to maintaina specific type of living status. According to the article, these cuts or a lot less than what they would have originally been. So this is very good news for individuals who are worried about retiring and losing some of their benefits.
Fox New and Personal Finance
Recently, in article about debt versus salary,Fox business newsgoes over the perils of people who make a six-figure salary although their debt may far exceed this in many cases. The article lists a social media example where an individual posted on a social networking site that although he made over $100,000 per year his debt did exceed his income. He was questioning as to if he should try a debt consolidation company from a network of lending institutions.
Spending has become quite popular in the United States which ultimately leads to debt. Whether someone is going through a divorce or they had just got out of college managing finances is the extreme importance.
In addition, yesterday, released an article stating that nearly 2,000,000 homeowners are now on the rise as they are no longer struggling to make their home payments. This is due to the rise in housing prices which means that people’s homes are now worth more than they were this last year. We could hold many individuals looking to consolidate their debts as well as try to get unsecured debt consolidation loans bad credit when the housing plunge began to happen. However, the good news is that individuals are no longer in debt in ratio to what their homes are now worth.