Financial Literacy

• Charles Schwab released its Financial Literacy Survey. Here are the highlights:

On a scale of 1-100, Americans rated money management (62.9) as the most important skill for kids to learn, edging out the dangers of drugs and alcohol (60.5), healthy eating and exercise habits (58.3), and safe driving practices (57).

(BusinessWire)

• Technology (FinTech) could develop in a way to further divide the financially vulnerable from everyone else, or it could be developed in a way to be helpful. The Financial Brand looks looks at a FinTech company that has moved into banking with the RoarMoney account designed for “hard-working” people. Many of its features are designed to help its members during the pandemic. And Commonwealth and JP Morgan/Chase are collaborating to encourage technological innovations to help financially vulnerable people. (Business Insider)
• Want to teach children about credit scores? There is an app for that. (CNBC)

Economics

• First-time jobless claims headed back over 1 million (1.1) this week, after dropping below for the first time in 20 weeks last week, signaling continued weakness in the labor market. (BBC)

Investing

• Tech continues to lead Wall Street. It took Apple 38 years to reach $1 trillion market cap, but only 2 years to hit $2 trillion, the first company to do so. (CNBC)
• The Irrelevant Investor breaks down what is going on behind the record S&P level hit on the 29^th. In fact, only 6% of the 500 stocks in the S&P were at 52-week highs. The rest aren’t haven’t such a hot year. Another Irrelevant Investor article provides some data and context around market highs.
• If you are looking for a lesson on rebalancing, this one is for you: HumbleDollar.
• Target and Walmart had crazy good second quarter earnings, beating expectations. (CNBC-Target) (CNBC-WalMart)
• This VOX article discusses how the shut down of small retailers earlier in the pandemic turned these companies, as well as Amazon, into de facto “essential” retailers.

Paying for College

• Add a new coronavirus fee to that tuition bill. (NYT) (LifeHacker)

Insurance/Health Savings Accounts

• Brush up on the 2021 changes to Health Savings Accounts. (Motley Fool)

Taxes

• What happens when no one is home at the IRS to open all of that mail? 10 million pieces of it pile up, and thousands get non-payment letters from the IRS. The IRS acknowledges it is their problem, not yours, but what should you do if you get a notice? (Don’t Mess With Taxes)

Careers

• The title of this Forbes article threw me, but it basically says that now more than ever, soft skills are vital for employment, not just a differentiator.

Education

• The latest on school openings (or non-openings, or openings and closings) from K through college. (NYT)

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