Keagan Kinsella | October 1, 2020
October is here….wow, can you believe it has been 6 months since I started this newsletter during the beginning of quarantine? COVID has changed our lives in so many ways! From a personal finance perspective, you may find it interesting to find that the coronavirus crisis has sparked more than just toilet paper hoarding—it also affected money hoarding! That’s right, in April, the US Bureau of Economic Analysis said the personal savings rate jumped up to 33%. This is a historic high! Did you find yourself being more of a saver during these times of uncertainty? Or are you one of those who got the most bang from every buck of their Amazon Prime membership?
Today we’re covering the following topics:
- Question of the month: More interest please?!
- Trendy TESLA and an Econ 101 moment, talking “Veblen Goods”
- Refinancing in 350 words. How…and why now?