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And -- well each new year brings its own set of friends and that includes in the financial world as well so.
What -- -- and and what will be out in 2013.
Let's ask our personal finance expert -- given what we needed to stay cool but they are rolling out.
-- what's in what's out for -- encouraging when it comes our money.
Plastic is in.
People are charging up a storm.
Late payments are up delinquencies are up balances are up in this trend is actually expected to continue into any thirteen to look at the forecast and Trans Union credit reporting agency.
In part because credit is now being extended to people who don't have that great credit and they're getting the cars they're extending those are persistent -- riskier borrowers with -- Is -- People don't have cash.
Pair relying on the classic for everything from the big ticket -- to the everyday expenses and that's pretty scary lots to learn relying on that credit card because taxes have gone -- they can't afford.
Went in -- more cars what about unemployment what's and what's out contract work freelance work.
That's up is in right that's about 30% of the workforce today.
That number is expected to continue to grow companies like it that way it's his company don't have to pay for medical you'll get -- I -- no benefits no job security no nothing.
But this is sort of the new norm.
What's out is full time employment if you can't find the full time -- -- so they're forced to take on these projects the contract work -- freelance work just it you know to get by people take whatever they can get.
As far as banks are concerned what's in -- out credit union -- -- -- They're growing in popularity -- people like the experience a kinder gentler experience you get higher rates on deposits lower rates on loans at a customer service.
Big banks are out.
People don't like the big banks that don't trust the big banks are tied at the fees the -- and that's making -- They're tired of all the nickel and dining and so they're looking for alternatives like credit unions -- right now what about real estate what's -- without homeownership is in.
Really if people don't have cash -- still buying -- well mortgage rates are record lows right affordability is off the charts.
-- if you look at analysis from -- it makes more financial sense to buy in most markets -- markets and it does to rent.
You can break even in just a couple of years and a lot of Florida markets Miami Fort Lauderdale.
Phoenix Las Vegas and these other markets without is -- because rents have gone up they're continuing to -- up all about the -- the -- In the glut of foreclosures has pushed people into rentals so that's pushing those prices up and up about 20% in the past couple of years and it definitely depends on the city right because young cities low -- exactly.
And -- York had a 20% down to buy an apartment in a tiny apartment still.
New York half a million dollars but let -- look at the rentals in New York to their absolutely ridiculous -- I would not -- what's in what's out.
Buying local is in.
I mean people will elect to support the local economy they want to keep the money in their local community.
You know whether it's buying fresh fruit from a local -- -- whatever the case may be.
What's out is buying time -- me a lot of people just don't like that these rights they'd rather stick to.
Putting money in our economy here and I think that's a good thing I in the US say -- I thank you very -- NBA -- more kids.
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