Personal Finance: What You Need To Know Today

Category: Personal Finance

Personal finance and money management can be very confusing. Most people know that optimizing their finances is important but few feel confident that they have the knowledge to do so.

At Fioney we stay on top of the latest economic trends, financial products, and money management strategies in order to provide the knowledge to help you use the money you have today to live the life you want.

Learn to make your money work for you. Whether it’s getting debt free or buying a home we have you covered.

map of the US covered in money

Survey: 90% Want to Invest But 45% Aren't Sure Where to Start

These days, there is certainly no shortage of investment options that consumers have. Furthermore, thanks to retail brokerages as well as mobile apps, the stock market is more acessible than ever. Nevertheless, a recent survey shows that many consumers still aren't sure how to take advantage of these options. According to a report by the FinTech app Stash, 90% of Americans say they want to invest in order to build...
Robinhood cash back offers illustration

Robinhood Cash Card Adds New Cashback Offers

Looking to earn cashback on some common purchases from major brands? A popular investment app has now added reward offers to its debit card product. This week, Robinhood announced a new feature called Cash Card Offers. With these specialized, brand-specific deals, cardholders can earn cashback on select purchases. In a blog post, the company wrote, "Building on our mission to democratize finance for all by putting money back into customers'...
Inflation

Month-Over-Month U.S. Inflation Flat in July 2022

For months, the top economic story has been inflation. In turn, the debuts of new inflation reports have become appointment viewing for economists and other observers. On that note, today's release came with a bit of surprise and, overall, good news. According to the latest Bureau of Labor Statistics Consumer Price Index report, overall index item prices were flat between June and July. By comparison, prices grew 1.3% in June...
Truework logo

Income Verification Startup Truework Raises $50 Million

A company that helps lenders close loans with greater ease and speed has secured a significant funding round. This week, Truework announced that it had raised $50 million. The Series C was led by G Squared with participation from returning investors Sequoia Capital, Activant Capital, and Khosla Ventures as well as newcomers Indeed, Human Capital, and Four Rivers Group. With the funds, Truework intends to increase its hiring, while also...
Cloud Money by Brett Scott

Money at 30: "Cloudmoney" Audiobook Review

For years, I've been writing about the FinTech sector and reviewing applications that fall under that banner. In turn, I've become a fairly large fan. Thus, when I was looking for new books to check out and came across one that seemed critical of the advent of these financial technology firms, I was definitely intrigued. The book in question is Cloudmoney: Cash, Cards, Crypto, and the War for Our Wallets...
US Jobs report

July Report: U.S. Economy Regains Jobs Lost During Pandemic

In March of 2020, following a month that saw unemployment fall to 3.5%, the United States economy shed 459,000 jobs. This was followed up by a massive 20.5 million job loss in April, bringing unemployment to 14.7%. Now, 27 months later, the U.S. has returned to that February 2020 high. According to the latest Bureau of Labor Statistics report, the economy added 528,000 jobs in July. This was more than...
FinTech

What Happens When a FinTech App Shuts Down?

Lately, it seems as though there's been a lot of bad news looming over the FinTech sector. Obviously cryptocurrency firms are the largest example of this but, with Robinhood now announcing that it's laying off 23% of its staff, there are other challenges that abound (to be fair, Robinhood's troubles are also partially related to the crypto market). These instances beg the question: what happens when a FinTech service shuts...
Rocket Money logo

Truebill App Rebrands to Rocket Money

In recent years, one of the most talked about personal finance apps has been Truebill. Founded in 2015, the platform has since helped users save a reported $250 million — including $150 million this year. Now, Truebill is changing its name and will continue on as Rocket Money. This name change comes following Rocket Companies' acquisition of Truebill in December 2021. The purchase cost Rocket $1.275 billion in cash. When the...
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A Guide to Building Credit and Increasing Your Credit Scores

When it comes to credit, there’s some good news. The average credit score in the United States has been steadily rising in recent years, coming in at 715 in 2023. That may be because, today, consumers not only have more ways to access their credit reports and scores than ever before but also because there are an increasing number of options that Americans have for building credit in the first...

2024 SoFi Checking and Savings Review

Ever since I started taking an interest in the FinTech sector, one company whose name I’ve seen pop up over and over again is SoFi. Lately it seems as though that theme has been sent into overdrive as the company has not only become a household name thanks to its stadium naming rights deal but also because of the company’s continued product expansions. The most interesting development in my mind...
Brim logo

Brim Financial Raises $85 Million as It Eyes Global Expansion

Toronto-based FinTech infrastructure startup Brim Financial has announced a new funding round. About the round: Brim has revealed an $85 million round. The Series C was led by EDC Investments while new investor Vistara Growth and returning investors White Owl Group, Epic Ventures, and Zions Bank also participated. To date, the company has now raised $110 million including a Series B in 2021. According to Brim, the latest funding will...
Chase Freedom Flex card

Chase Reveals Q2 2024 Freedom 5%(+) Bonus Categories

Chase has announced its bonus category picks for the second quarter of 2024 — including some interesting twists. About the categories: As April approaches, Chase has revealed what categories Freedom and Freedom Flex cardholders can earn bonuses on. From April 1st through June 30th, customers can earn 5% (or more) in three categories: Amazon.com, Hotels, and Restaurants. Similar to how Chase embraced a "New Year, New Me" theme last quarter,...
Rent Day

Bilt Announces Home Collection Deal for May 2024 Rent Day

For May's Rent Day, Bilt is offering a deal that will allow members to decrease their rent bill while also adding to their home decor. About the Home Collection offer: Bilt has crafted a unique Rent Day offer for May 2024. Through the 1st, when Bilt members redeem their points toward rent payments, they'll receive the same number of points to be used toward Bilt Home Collection items. To take...