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May 2022

Cities with the most and least student debt

College debts are one of the largest financial burdens for Americans. They make up the second highest type of household debt after mortgages, totaling $1.61 trillion. That’s about $37,000 per borrower. High balances with payoff times that lasts into middle age force graduates to delay other financial goals. Read more →


The baby formula shortage: a monopoly market, the FDA recall, and efforts to fix the shortage

The news that baby formula is in short supply is really confusing, especially when conspiracy theories are running rampant. It also makes one wonder why so few baby formula companies are in control of the market. And, what did babies drink who weren’t breastfed before formula companies took over baby feeding? Read more →


Medicare Advantage insurance companies deny some treatments Medicare approves, oversight agency says

Every year during open enrollment for Medicare Advantage plans, I write about them. Why? The plans are widely hyped, and older adults may switch to the plans and lose coverage. What’s Medicare Advantage? It’s a way to combine Original Medicare and a supplemental or medigap policy. Read more →


Real estate commissions paid by buyers aren’t competitive, study shows

An analysis of real estate buyer agent commission rates on 17,805 home sales in several dozen cities throughout the U.S. found a high degree of uniformity among these rates. A new report – “Real Estate Commission Rates in 35 Cities: Uniformity and Variation” – released by the Consumer Federation of America offers details. Read more →


Ceramic knives are being recalled by Norwex USA due to laceration risk

Norwex USA is recalling about 40,000 ceramic knives in the United States and 2,500 in Canada. The handle on the Norwex ceramic knives can break during use, posing a laceration hazard. The firm has received 188 reports of incidents, including 158 reports of the handle breaking. Read more →


Facts and figures for Mother’s Day 2022

The first Mother’s Day celebrations were organized by Anna Jarvis on May 10, 1908 in Grafton, West Virginia, and Philadelphia. Jarvis became the leader for the Mother’s Day movement as the annual celebration became popular across the nation. Read more →


Intuit to pay $141 million over ‘deceptive’ TurboTax ads

Intuit has agreed to a $141 million settlement to resolve allegations by 51 attorneys general that it deceptively advertised its “free” online TurboTax products. Although 70 percent of taxpayers qualify for the IRS Free File Program, operated by Intuit and others, less than 3 percent of taxpayers used it to file their returns in 2020. Read more →


What to buy and not buy in May

May is a big month for bargains, beginning with Mother’s Day and ending with Memorial Day. If you’ve been waiting on a great bargain, there’s a good chance it’ll pop up in May. Check out this guide from DealNews.com on what to buy in May, as well as the items you’ll want to wait until later to purchase: Read more →