Bonus Chapter D: Personal Finance - McGraw-Hill Introduction to Business

[VIDEO] The Paths to Paying off a $500 Debt

April 26, 2024

More than one third of Americans cannot afford to pay an unexpected $500 cost out of pocket, so they must often use alternative ways to settle their debts. This video examines the options available to people who need money fast, from overdraft fees that can stack up over time to payday loans that quickly become predatory.

Questions:

What are the benefits of maintaining an emergency fund for unexpected costs?
Why are payday loans considered predatory? Do you think government regulators Continue reading →

Product Development, Product Distribution, Personal Finance, Payday lending, Ethics

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter D: Personal Finance, Videos

Number of “Cost-Burdened” Renters Hits Record High

February 16, 2024

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Last week, we looked at how food prices have remained high even as inflation falls in other areas of the economy. Not only are many consumers struggling to pay their grocery bills, but rent has also become a major financial strain on millions of people. Housing costs skyrocketed in the years after the pandemic, with average U.S. rent growing by more than 15 percent in 2022. According to a recent report by the Harvard Joint Center for Housing Studies, half Continue reading →

Pricing, Product Distribution, Supply & Demand, Personal Finance, Inflation, Ethics, Housing, Rent

Chapter 1: Taking Risks and Making Profits, Chapter 2: Economics, Chapter 4: Ethics and Social Responsibility, Chapter 14: Product and Price, Chapter 15: Distribution, Bonus Chapter D: Personal Finance

Banks Plan to Reduce or Eliminate Overdraft Fees

February 25, 2022

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In theory, overdraft fees charged by banks are meant to be a “convenience” for customers so that their purchases are not declined when they are unknowingly low on funds. In practice, however, these fees have become a major revenue generator for banks that charge an average of $33.58 for each overdraft. That means consumers can be hit with multiple fees if they accidentally make numerous purchases while past the limits of their account. Studies show that this practice particularly harms Continue reading →

CFPB, Ethics, Overdraft fees, Banking, Finance, Regulation, Legal

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law, Bonus Chapter D: Personal Finance

Tech Giants Attempt to Break into Banking

November 15, 2019

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This week, Google announced that it’s launching a banking service next year that will offer “smart checking” accounts to mobile-focused customers. Known as Cache, the program is the result of a collaboration between the search giant and two banks: Citigroup and Stanford Credit Union. Although details of the partnership remain limited at this time, Google eventually wants Cache to become an extension of its Google Pay app. The company also claims that customers will “benefit from useful insights and budgeting Continue reading →

Beware of Phony IRS Calls This Tax Season

January 30, 2018

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Yesterday, the filing period officially opened for the 2018 tax season, an annual event that many Americans dread. Along with the standard pain that comes with writing checks to Uncle Sam, people also get stressed by worrying whether or not they calculated their tax bill correctly. Matters can become even worse for these anxious earners if they receive a phone call from the Internal Revenue Service regarding back taxes they never knew about.

But while these calls are certainly intimidating, Continue reading →

Ethics, Regulation, Security, Crime, Taxes, IRS

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 17: Accounting, Bonus Chapter A: Business Law, Bonus Chapter D: Personal Finance

[VIDEO] What Are the Paradise Papers?

November 9, 2017

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This week a group of investigative journalists released an enormous cache of leaked documents called the Paradise Papers. Like last year’s Panama Papers incident, these records detail the offshore financial activities of some of the world’s richest people and companies. But while 2016’s leak focused mainly on the tax avoidance strategies of foreign entities, the Paradise Papers are full of names that will be familiar to Americans. The video below provides a quick overview of this complex story. Tomorrow, we’ll Continue reading →

Regulation, Legal, Global, Ethics, Offshoring, Tax Avoidance, Panama Papers, Paradise Papers

Chapter 1: Taking Risks and Making Profits, Chapter 3: Globalization, Chapter 4: Ethics and Social Responsibility, Chapter 17: Accounting, Chapter 18: Financial Management, Bonus Chapter A: Business Law, Bonus Chapter D: Personal Finance, Videos

Cyberattack on Equifax Leaves 143 Million Consumers Compromised

September 8, 2017

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Yesterday the credit reporting company Equifax announced that hackers had breached their security systems and stolen personal information from 143 million customers. Along with names and birthdates, the hackers also obtained social security and driver’s license numbers. These pieces of data are basically gold to identity thieves, allowing them to make purchases, borrow money and more all under the victim’s name. “This is about as bad as it gets,” said World Privacy Forum executive director Pamela Dixon. “If you have Continue reading →

Security, Yahoo, Cyberattack, Equifax, Credit, Personal Finance, Ethics

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Bonus Chapter B: Technology and New Media, Bonus Chapter D: Personal Finance

[VIDEO] The Rise and Fall of Yahoo

February 3, 2017

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Yahoo launched in the early days of the Internet and quickly became one of the most popular sites in the world. At its height, the news and search site was valued at more than $100 billion. Last month, though, Verizon bought Yahoo for $4 billion, completing the final stage of the company’s long decline. This video tells the story of Yahoo’s fall from the pinnacles of Silicon Valley success.

Questions:

What lessons can other tech companies learn from Yahoo’s Continue reading →

Tech, Videos, Yahoo, Silicon Valley, Verizon, Acquisitions, Branding, Innovation

Chapter 1: Taking Risks and Making Profits, Chapter 7: Management & Leadership, Chapter 13: Marketing, Chapter 14: Product and Price, Bonus Chapter D: Personal Finance

Cell Phone Numbers Become Key Pieces of Personal Information

November 15, 2016

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From a young age Americans are taught to keep a close eye on their Social Security number. After all, this unique code acts as an identifier for everything from bank accounts to medical records. If it falls into the wrong hands, all of your personal information could become compromised. To prevent this from happening, the government requires companies to keep Social Security numbers private while advising individuals to reveal it only to trusted parties.

But in today’s digital age there’s Continue reading →

Mobile, Personal Information, Ethics, Identity Theft, Social Security, Security

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 14: Product and Price, Chapter 20: Money and Financial Institutions, Bonus Chapter B: Technology and New Media, Bonus Chapter D: Personal Finance

Shining a Spotlight on Predatory Debt Collectors

June 9, 2016

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For the millions of Americans who struggle with debt, paying back the money they owe can become a life-consuming ordeal. These overstretched individuals either take years to settle with creditors or end up defaulting entirely. Since most lenders want to avoid the latter option, they sometimes opt to sell off delinquent debt to a third party for pennies on the dollar. For instance, a bank might sell off $100,000 of debt to another institution for just $1,000. While the lender Continue reading →

Debt Forgiveness, Ethics, Regulation, Debt, John Oliver, Occupy Wall Street

Chapter 1: Taking Risks and Making Profits, Chapter 4: Ethics and Social Responsibility, Chapter 20: Money and Financial Institutions, Bonus Chapter A: Business Law, Bonus Chapter D: Personal Finance