America says thank you for your shopping habits. But the retail industry is getting nervous they might change.
| This email is coming from an unmonitored email account. Please do not respond to this message. | | | | | | | | | Market Recap | | | | | Dow Jones | 34,947.28
(+0.01%) | | S&P 500 | 4,514.02
(+0.13%) | | Nasdaq | 14,125.48
(+0.08%) | | Volvo | $22.05
$0.34 (+1.56%) | | | | | | | | | | | | | Can consumer spending keep the economic party going? | | | | This week's retail earnings might shed some light on what companies are seeing in consumer behavior. Walmart has already voiced some caution, will others join in?
Read more>> | | | |  | | | | | | | | MARKET RECAP | | | | U.S. stocks rose slightly on Friday, ending the week comfortably in the green | | | | - Shares of Volvo fell 12.3% to a record low after its Chinese parent company Geely initiated the sale of some 100 million shares to increase liquidity.
- Shares of the EV charging company ChargePoint plummeted 35.5% after the company lost its CEO, and warned current-quarter sales might be lower than expected.
- Shares of BJ's Wholesale slipped 4.8% after posting mixed earnings.
- Building permits rose slightly in October. The Northeast region saw the largest increase in new permits. Housing starts also increased in October, with the largest gain coming from multi-family units.
| | | | What to be on the lookout for today | | | | - It's a shortened trading week due to the Thanksgiving holiday, with the New York Stock Exchange closed on Thursday, and a shortened trading day Friday.
- Zoom and life sciences company Agilent Technologies will report earnings.
| | | | | | | | What happens when you can't pay your bills | | | | When you take out a loan you sign a document promising to pay it back. But sometimes life doesn't go according to plan, and you're not able to make your payments.
When you fall behind on a loan, it becomes delinquent. The next step is default, but when it happens may depend on the lender, loan type and agreement.
What happens when you default
Defaulting on a loan has consequences – especially on your credit score. Lenders report late payments to the credit bureaus.
Late payments will hurt your credit score, and even if you bring the account up to date, missed payments can stay on your report for up to seven years. A low credit score may hurt your ability to get a loan in the future, or make it more costly.
Don't ignore the problem
That's not going to make it go away. Take a hard look at your budget to identify any spending you may be able to cut to shore up funds. If you can't make a payment, reach out to the lender, and share your situation. | | | |  | | | | | | | | Today's top stories | | | | | | | | Tech companies sound alarms about the health of small businesses | | | | America isn't just blue chip corporations in glitzy skyscrapers. A lot of the economy is composed of small and medium-sized businesses, which may be headed for trouble.
Read more >> | | | | Scared to ask for a raise? Look no further | | | | Asking to be paid what you're worth can feel scary. We've got some tips on how to have the big talk with your boss.
Read more >> | | | | What happens to your credit score if you defer a loan payment? | | | | When your budget is stretched thin, the option to pause loan payments may be appealing. Here's what you need to know about how deferred payments may affect your credit score.
Read more >> | | | | | | | | | | Other news that caught our eye | | | | | | | | | | Financial planner tip of the day | | | | "If your income is not keeping you from qualifying for a loan, but you lack a credit history, a guarantor added to the loan agreement might be an option to consider. A guarantor is legally responsible for the repayment of the loan if the borrower defaults, but has no legal claim to any property the funds were used to purchase." | | | | – Brian Walsh, CFP® at SoFi | | | | How did you like today's newsletter? | | | | | | | | This email was sent to you at paidmellc@gmail.com by SoFi Wealth LLC. (SoFi) because you're enrolled in the SoFi Daily. If you do not want to receive SoFi Daily emails, click here to unsubscribe.
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