The Finance Fix for July: Recession, student loans, payment apps and more

THE FINANCE FIX

Happy Wednesday. People who own their own business often refer to that business as their baby, but what happens when the baby is all grown up? And is a recession really coming soon? This month’s Finance Fix helps answer those questions. It also has information you need to know about the end of the student loan pause and the safety of money stored in payment apps.

• 4 Tips for getting the most from your life’s work
• Is a recession coming?
• The student loan pause is ending in August
• Money stored in payment apps may not be protected

Is a recession coming? Making sense of a confusing economy. More than 90% of corporate CEOs say they are preparing for a recession but there are mixed signals on whether or not a recession is really looming. Learn more

The student loan pause is ending in August. August 29 to be exact. More than 40 million borrowers will then need to start making repayments in October. And there’s a lot to know about collection efforts, grace periods, and other student loan forgiveness programs still available. Learn more

Money stored in payment apps may not be protected. If you keep money in apps like Venmo, PayPal, and Cash App, you could be at risk of losing it. Government regulators are warning people that the Federal Deposit Insurance Corporation (FDIC) only insures up to $250,000 in a bank account. Nothing in a nonbank payment app is protected by the FDIC. Learn More

If you have any questions about the above topics or other questions about your finances, please reach out to me. My contact information is at the bottom of this newsletter, and I’d be more than happy to help you build and protect your wealth.

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