SoFi Blog

In our efforts to bring you the latest updates on things that might impact your financial life, we may occasionally enter the political fray, covering candidates, bills, laws and more. Please note: SoFi does not endorse or take official positions on any candidates and the bills they may be sponsoring or proposing. We may occasionally support legislation that we believe would be beneficial to our members, and will make sure to call it out when we do. Our reporting otherwise is for informational purposes only, and shouldn’t be construed as an endorsement.

If you’ve kept up with the democratic debates or campaigns recently, you may have heard the term universal basic income, or UBI, tossed around.

The program’s biggest proponent, democratic candidate Andrew Yang, says that a universal basic income will be key to protecting the American economy in the future, especially as more jobs are replaced by automation and technology. His plan for a “Freedom Dividend ” would give Americans $1,000 a month, which he argues would increase productivity and boost economic growth.

Here’s a look at what universal basic income is, Yang’s proposed plan, and how adopting a UBI could possibly affect you in the future.

As many of us enjoyed the final month of summer, plenty of attention was focused on a somewhat bumpy August which delivered political turmoil, escalations in a trade war, and concern in the fixed income market. Overall, the stock markets ended the month down slightly, so sit back and catch up on some market moving news.

So, you made an investment that didn’t work out. The first step is to take a deep breath.

Bad investments can happen. One misstep doesn’t mean you can’t recover your investment. In the long run, it may even make you a more experienced and skillful investor.

An investment, by nature, is some sort of deployment of capital in order to make a profit. Investors should know that in order to make money, they might have to take a risk.

In fact, risk and return are two sides of the same coin. Generally speaking, to have a chance at a higher reward, you must assume a higher risk. Assuming risk means taking the chance that you might lose money. There are no free lunches.

The Fed made moves, big tech got slapped and the candidates bristled.

Another month is in the books, and the more things change the more they stay the same. Stock markets seemed to climb to new heights in July while pundits continued to discount the rally and call for the next recession. Even presidential candidates got in on the doomsday predictions this month.

Just like in June, market-moving news is coming from the Fed, geopolitical tensions, and major technology companies. As the summer winds down, sit back and catch up on some highlights from July.

Shopping for the latest trends and stylish finds can be a blast. Not to mention that heading to the mall or local thrift shop with friends can be a bonding experience like none other. And is there anything as rewarding as finding a pair of jeans that fit you just right?

While there’s nothing quite like the thrill of the hunt, when you’re shopping for clothes and building out your wardrobe, it can be difficult to determine when you should be splurging on an investment piece and when you should be buying cheaper basics. Here are some guidelines to help you determine what clothes are worth investing in.