Everyone's buzzing about the Facebook IPO, and after hearing about how many billionaires and millionaires the IPO will create, you might think that it's your chance to make money off this cash cow. But first, you need to educate yourself. What's the deal about IPOs? Facebook used to be a private company, which means its shares were not sold to the public. Once a firm goes public, it's on the Read more

There's always a feeling of confusion when a major retailer goes bust, but what we really want to know is what it means for us and how we'll be affected. American Airlines announced it was filing for bankruptcy this morning, which leaves loyal customers wondering what's going to happen to their miles and if it's going to be harder to book a flight with them. Here's a quick roundup of burning Read more

It sounds pretty incredible but President Obama actually reads some of the letters people write to him, according to the Washington Post. Apparently, the head of state reads 10 out of the 20,000 letters sent to him daily and says it's a great way to feel connected to people as well as a good reminder of why he decided to run for presidency. The Post says: "A few times during his presidency, Obama Read more

You might have heard about Occupy Wall Street, a nationwide movement spurred by the frustrations that many hold about the economic state of this country. The protesters are unhappy about a number of issues. Mainly, the great disparity between the wealthy one percent versus the 99 percent of the general population and the fact that banks weren't held accountable for their actions that brought Read more

Experts rely on dry statistics such as unemployment figures and the consumer price index to gauge where the economy is going, but there are other less serious ways to monitor our financial state. Even you can get your finger on the pulse of the economy by observing the trends you can relate to. Here are a couple of the weirdest economic indicators: Divorce rates: A rise in divorce rates is a Read more

The White House is proposing a new tax rate for the wealthy — those earning more than $1 million will have to pay, at the very least, the same percentage of taxes as middle-income Americans are paying. It's called the Buffett Rule, and it's part of the debt reduction plan President Obama proposed today, which aims to reduce the federal deficit by $3 trillion in the next 10 years. However, there Read more

We're thrilled to present this smart LearnVest story here on Savvy! You’ve probably heard the news already—our country’s credit rating just took a dive. On Friday evening, Standard & Poor’s, one of the world’s three major credit rating agencies, dealt a major blow to the United States’ financial psyche by announcing that it has downgraded the country’s credit rating from AAA Read more

You've probably heard the news that Standard & Poor’s, a credit rating agency, downgraded the US from its AAA rating to AA+. How does that affect us, you might wonder. Well, many experts believe the lower rating will cause a rise in credit card interest rates of up to five percent. This change will only affect cards with variable interest rates because the Credit CARD Act of 2009 protects Read more