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.
Personal Finance
Personal Finance
Household Debt in the U.S. Dips For the First Time in Six Years
Those looking for a silver lining to the current pandemic may have found one in a new report. According to the Federal Reserve Bank of New York, total household debt — which includes both housing and non-housing debt — came in at $14.27 trillion for the second quarter of the year. Importantly, that's down 0.2% (equating to $34 billion) from the previous quarter, marking the first time since 2014 that the...
Personal Finance
Sequoia Found to Be Most Active FinTech VC of the Past Year
When it comes to investments in FinTech, a few investment firms tend to come up again and again. But which venture capital group has participated in the most funding rounds as of late? According to CB Insights' latest State of FinTech report, it's Sequoia Capital that's been the most active FinTech VC of the past year (Q2 2019 to Q2 2020). However, there is an asterisk to that as the...
Personal Finance
How Are Consumers Utilizing Credit Card Rewards During the Pandemic?
With the United States economy still suffering at the hands of the COVID-19 pandemic, many consumers have had to grow more savvy in order to weather the storm. According to a recent survey commissioned by the peer to peer payment service PayPal, it seems that, for some Americans, this may include tapping their saved credit card rewards. First, 29% of survey respondents report turning to their banked credit card rewards...
Personal Finance
Varo Money Granted National Bank Charter, Forming Varo Bank
As several startups have started expanding into banking services, such companies have partnered with existing banks in order to provide FDIC insurance and other benefits to their customers. However, at the same time, some of these businesses have attempted to build their own path by applying for charters — and now one firm has actually earned one. Late last week, Varo announced that it was officially the first consumer FinTech...
Personal Finance
Mortgage Company Rocket Announces Initial Public Offering
It looks as though a major FinTech initial public offering is just around the corner. Rocket Companies (referred to as either “formerly known as Quicken Loans” or “the parent company of Quicken Loans” depending on who you ask) will offer 150 million shares of Class A common stock as part of its IPO. Currently, the price per share is set to be between $20 and $22, which would raise as...
Personal Finance
United States Economy Contracts 32.9% in Q2
As Congress continues to debate potential next steps for financial relief amid the coronavirus pandemic, new figures are showing the economic impacts of the disease. This morning, the Bureau of Economic Analysis reported that the United States’ gross domestic product declined by 32.9% during the second quarter of 2020. That marks the worst recorded quarterly GDP drop, nearly quadrupling Q4 2008’s 8.4% drop that held the previous title. The decline...
Personal Finance
