News That Matters

Tag: money

Pope warns on being misled by the pursuit of money

Pope warns on being misled by the pursuit of money

Finance
Pope Francis advised against making the pursuit of money, a career or success the basis for one's whole life, urging people in his Epiphany remarks Saturday to also resist "the inclinations toward arrogance, the thirst for power and for riches."Francis said during a homily at Mass in St. Peter's Basilica that people "often make do" with having "health, a little money and a bit of entertainment."He urged helping the poor and others in need of assistance, giving freely without expecting anything in return.Many Christians observe Epiphany to recall the three wise men who followed a star to find baby Jesus. Francis suggested asking "what star we have chosen to follow in our lives.""Some stars may be bright, but do not point the way. So it is with success, money, career, honors and pleasures wh...
Diversification: Don't put all your eggs (or money) in one basket

Diversification: Don't put all your eggs (or money) in one basket

Finance
Everyone is familiar with the saying, "Don't put all your eggs in one basket." Even in Shakespeare's play, "The Merchant of Venice," written more than 400 years ago, the character Antonio demonstrates his understanding of the concept when he says: "I thank my fortune for it — my ventures are not in one bottom trusted, nor to one place, nor is my whole estate upon the fortune of this present year."Though savvy investors, like Shakespeare's Antonio, have long understood the benefits of diversification, it was not until the 1950s when an academic named Harry Markowitz introduced research on what he called modern portfolio theory that people were able to understand diversification in an objective, mathematical sense. This research was so groundbreaking it earned Markowitz a trip to Sweden to p
Giving money to adult children could trigger your financial ruin

Giving money to adult children could trigger your financial ruin

Finance
You might want to think twice before giving money to your adult child.A new study from CreditCards.com found that 74 percent of parents with adult children, defined as 18 and up, are continuing to help them financially.Of those parents, 84 percent are helping with living expenses, while 70 percent are assisting with debt.Cell phone bills, followed by transportation, rent and utilities, tops the list of living expenses, and with debt, parents are most commonly helping with student loans, followed by auto bills, medical debt and credit card bills."The worst case scenario is because the parents have helped their kids, and sacrificed their retirement, in 20, 25 years, the script might get flipped and the kids might have to help out their parents because they can't afford to retire," said Matt ...
Philippines wants money back from Sanofi for dengue vaccine

Philippines wants money back from Sanofi for dengue vaccine

Health
The Philippine government will demand a refund of 3.5 billion pesos ($ 69.5 million) from vaccine maker Sanofi Pasteur and look at possible legal action after a study showed the vaccine used in a dengue immunization program could expose some people to severe illness, the health chief said Friday. Health Secretary Francisco Duque III said the government will also seek compensation for treatment of children who may develop severe dengue. No deaths have been confirmed, but at least one immunized child has developed dengue. The Department of Health put on hold its dengue immunization drive, which was launched last year and is the world's first such public program, after France-based Sanofi Pasteur released the study last week. More than 730,000 public school children aged 9 and above in three...
Here’s how to teach your kids about money

Here’s how to teach your kids about money

Finance
In order to teach your children about money, giving them a piggy bank just isn't enough.In this country, children are coming up empty when it comes to dollars and cents and both schools and parents are a big part of the blame.About 1 in 5 children in the U.S. don't meet baseline levels for financial literacy proficiency, according to the often-cited PISA 2015 Financial Literacy assessment. Only 10 percent are considered "top performers" capable of analyzing complex financial products and problems.Not surprisingly, students who are required to take personal finance courses have better average credit scores and lower debt delinquency rates as young adults, according to data from the Financial Industry Regulatory Authority's Investor Education Foundation, which seeks to promote financial lite...