5 Financial Stories We're Reading This Week - 3/8/18

1. Household debt is skyrocketing

Household debt in the United States increased at the fastest pace since 2007, according to Bloomberg, at a 5.2% annual rate. The increase comes amid a 3% gain in mortgage borrowing and a 3.8% rise in consumer spending. Researchers at the Federal Reserve and University of California warn, in a new study, America’s rapidly expanding non-bank mortgage lenders are vulnerable to the same kinds of liquidly pressures that caused them to fail during the financial crisis, according to the Financial Times. Read the rest on BLOOMBERG

 

2. Warren Buffett's 3 Most Profitable Pieces Of Advice

Warren Buffett's  annual letter to shareholders, which is as unadorned as a Nebraska cornfield, as usual, is a bounty for all investors. In this year's Berkshire Hathaway letter, you don't have to dig deep to find the best nuggets. Here are his three most powerful pieces of advice for Main Street investors:

  • Fees Matter/Keep Costs Low
  • Bonds Are Not Good Long-Term Bets.
  • Keep Your Head/Keep Investing. 

Read it all on FORBES

 

3. Surprise! The Equifax Hack Affected Millions More People Than Previously Disclosed

It’s the security breach that never ends. Reuters reports that 2.5 million more people were affected by last year’s massive Equifax data breach than previously reported, bringing the total to 147.9 million. Keep reading on LIFEHACKER

 

4. How to Accelerate the Growth of Your Net Worth

Calculating net worth is really simple. All you do is add up the value of all of your assets and subtract from that the amount of all of your debts. Easy enough, right? The trick, of course, is making sure that you’re covering everything in this calculation and calculating them accurately. Read the rest on SIMPLE DOLLAR

 

5. 50 Female Personal Finance Blogs You Need to Follow

Celebrating #InternationalWomensDay by highlighting some of the best female personal finance personalities who generously share their wisdom. via FINDER

 

6. Bonus: Opening a bank is a genius move for Amazon

 If Amazon follows through, it’ll be a game-changer. Every company that’s come and disrupted banking over the past few years has had to start from the ground floor. They’ve had to raise capital, and recruit staff. They’ve had to build a company, essentially. via THE NEXT WEB