We’ve scoured the web to bring you our favorite and most useful money-related articles of the week. We read everything, so you don’t have to!
Americans may not be stressed about their bills, but they probably can’t say the same about their savings accounts. The 2016 National Financial Capability Study found that fewer than half of workers spend less than they bring home—and more than a third would not be able to come up with $2,000 in an emergency. But not all demos are equally stressed—this particular group is struggling the most. Americans Finding It Easier to Pay Bills, But Still Can’t Save — Money
JPMorgan Chase and Starbucks are the latest companies to announce a boost to employees’ salaries, and others may follow suit. While Americans are having an easier time finding work, wage growth has remained stagnant, making for a sluggish economy. But increased paychecks could translate to a bump in consumer spending—a win-win for both employees and the country’s financial picture. American Workers Finally Getting a Raise — CNN Money
We may live in a digital age, but it looks like banks didn’t get the memo. As many people have found out the hard way (ever get hit with an overdraft fee you weren’t expecting?), your online account balance may not actually be as up-to-date as you assume due to the varied times at which transactions hit your account. Is an old-school system the solution for real-time numbers? Why You Can’t Trust Your Online Bank Account Balance in the Smartphone Era — Forbes
The generation gap for consumer confidence has been unusually wide in recent years, as older Americans rein in spending and leave more optimistic Millennials to drive the economy’s growth. In fact, consumer confidence for those under 35 has bounced back to pre-recession levels, while the figure for those 55 and over is worse. Here’s how businesses are shifting to better serve Millennial “customers of the future.” Youth Optimism Powers U.S. Economy — The Wall Street Journal
Turns out retirees aren’t the only ones depending on Social Security. Almost one in 10 Americans under the age of 18 now rely on the benefit checks as either direct or indirect beneficiaries, a result of an uptick in multi-generational households pooling financial resources during a down economy. Social Security Isn’t Just for Old Folks Anymore — Bloomberg