Subscribe To This Feed

Photo by Win McNamee/Getty Images(JACKSON HOLE, Wyo.) -- Federal Reserve Chair Janet Yellen hinted today that the U.S. economy might be strong enough for an interest rate hike.

Speaking to a conference of central bankers in Jackson Hole, Wyoming, Yellen cited employment gains and increased consumer spending in saying that the Federal Open Market Committee expects moderate growth in the national GDP, additional strengthening in the labor market, and inflation reaching two percent in the coming years.

As such, Yellen said she believes "the case for an increase in the federal funds rate has strengthened in recent months." She did not, however, specify when the rate hike might come.

A rate hike would mean higher costs for new mortgages, car loans and credit cards. However, rates are currently at historically low levels, and the Federal Reserve has repeatedly signalled that it would allow rates to rise gradually instead of offering agressive hikes.

Copyright © 2016, ABC Radio. All rights reserved.


Subscribe To This Feed

iStock/Thinkstock(NEW YORK) -- Wall Street closed mixed Friday as investors weighed comments from Fed Chair Janet Yellen on a possible interest rate hike.

The Dow slid 53.01 (-0.29 percent) to finish at 18,395.40.

The Nasdaq gained 6.71 ( 0.13 percent) to close at 5,218.92, while the S&P 500 finished at 2,169.04, down 3.43 (-0.16 percent) from its open.

Crude oil remained flat with prices hitting above $47 a barrel.

Federal Reserve: In Jackson Hole, Wyoming, Yellen told a conference of central bankers that the U.S. economy might be strong enough for an interest rate hike. Though she did not cite when a rate hike might come, she believes "the case for an increase in the federal funds rate has strengthened in recent months."

In an interview later Friday with CNBC, Fed Vice Chair Stanley Fischer said two rate increases before the end of the year were possible and suggested one could happen as soon as September.

Winners and Losers: ITT Educational Services, Inc. tumbled 61 percent amid a for-profit college crackdown where new ITT students will no longer be allowed to enroll with federal aid.

A report from the Wall Street Journal that said billionaire investor Carl Icahn was exploring selling his Herbalife Lt. stake, sent shares in the nutritional products company down 2 percent.

Stock in software company Autodesk, Inc. soared 8 percent Friday after beating investors' expectations in its quarter two earnings and Autodesk raised its outlook.

Copyright © 2016, ABC Radio. All rights reserved.


Subscribe To This Feed

WFAA-TV(DALLAS) -- The Texas utility worker who went viral thanks to a photograph showing him submerged in muddy water while fixing a broken pipe is now getting attention from the TV star who earned the nickname “the dirtiest man on TV.”

Somebody’s Gotta Do It host Mike Rowe, who became famous for traveling the country exploring different, dirty jobs, has offered to buy the utility worker, Jimmie Cox, a beer or two.

"I'm serious about the offer for a beer or two,” Rowe said in a taped message that aired Friday on Good Morning America. “Please tell me that was a water line … because if it was a sewer line, I'd have to get you a whole case.”

Cox fortunately was repairing just a water line when he went beyond the call of duty and submerged the upper half of his body in the murky water. The Hood County, Texas, homeowner whose burst, one-inch pipe Cox was trying to fix, took a photo of Cox that has since gone viral.

Cox, 23, told local ABC station WFAA-TV the hole he submerged himself in was about five-and-a-half feet deep. He said he saw water spewing everywhere when he arrived at the home so just dove in to try to plug the leak.

"In this line of work, people do it a lot," he said. "I wasn't even able to get the clampers, so we had to cut it and put a valve on there when it was underwater.”

Rowe first tweeted about the photo on Thursday.
I don't know who this guy is, if you recognize him tell him the first beer is on me

— The Real Mike Rowe (@mikeroweworks) August 25, 2016

Wrangler Jeans, which Cox was wearing in the photo, also tweeted that the company will be providing Cox with new jeans.

This guy is an #EverydayHero! ???? on @MikeRoweWorks, ????on us. Wrangler is for #DirtyJobs.

— Wrangler Jeans (@Wrangler) August 25, 2016

Now this is an #EverydayHero. Keep up the good work, buddy, & expect to see some #WranglerJeans coming your way.

— Wrangler Jeans (@Wrangler) August 25, 2016

Copyright © 2016, ABC Radio. All rights reserved.


Subscribe To This Feed

katsgraphics808/iStock/Thinkstock(HOLLY SPRINGS, N.C.) -- Raise your hand if you’ve ever had a horrendous DMV experience. Well, the customers at the Holly Springs DMV in North Carolina certainly can’t relate.

When they walk in to their local DMV, rather than being told to take a number and forced to wait for hours in a dimly lit depressing lobby only to find out you don’t have the proper paperwork needed, they’re instead greeted with freshly baked cupcakes, made-to-order fruit smoothies, a self check-in iPad, adorable cottage-style furniture, a kids' play area, smiling employees and rays of sunshine opening up from the heavens.

“We’ve actually had customers who’ve walked in and walked back out to read the sign again because they’re not sure they’re in the right place,” Arely Lopez, the branch manager at the Holly Springs DMV, told ABC News.

The DMV is privately owned, which allows it more freedom to be personalized, and the customers can’t get enough. They’re living in the lap of luxury as they await their new car title or personalized license plate.

“Everyone dreads going to the DMV but we worked really closely with the mayor and governor and county commissioners and we want to do it different,” Lopez said. “We have customers that will just come in to read a book and buy a cupcake.”

You read that correctly. Cupcakes, lots of them, in all sorts of delicious flavors, hand-delivered each morning from a local bakery named CupCakeBite located right up the road.

“In the evenings they’ll text me their list of flavors for the next day. I’ll either deliver to them or they’ll come pick them up,” Gina Pettaris, the bakery’s owner, explained.

The magical location is more like a quaint internet café rather than the dark pits of hell that is normally associated with a DMV. The only stipulation is that since they are privately owned, “we cannot do anything with driver’s licenses or issue state IDs,” Lopez said.

Anything else vehicle-related is on the table, though.

“The branch we fall under is Driver and Vehicle Services,” she explained. “Titling, registering, renewing, coming in from out of state to register your car for the first time, handicap placards that are issued, notary services, anything else, we do.”

The business principal for the chic and cozy DMV is the brainchild of owner Chad Price.

“I got the contract from the state and I put the whole thing together because I want to prove you can have good service,” he said. “It’s a mindset. I built it and designed it to completely break the mold."

“Typical DMVs have cinderblock walls so I put it in a nice little shopping center,” he added. “DMVs have nasty little carpets and I went with stained concrete floors. I looked at everything they were doing and went the opposite.”

Price added a playful kids' corner so parents can get their errands done while not having to worry about their children. He added top-of-the-line technology where customers can text the DMV to get a number and only show up once it’s time for their appointment. He went out of his way to petition to be able to add the state flag to DMV signage, just so it’s more appealing to the eye.

“The key thing we wanted to prove to everyone is that even though we’re a contractor for the state, you can truly provide phenomenal customer service,” Price said. “It’s not hard. You have to be committed. The government has to realize they’re there to serve the people. If you remember that, you will always go above and beyond.”

It’s safe to say he’s accomplished that and more. Did we mention they have cupcakes and fresh fruit smoothies?

Copyright © 2016, ABC Radio. All rights reserved.


Subscribe To This Feed

Peter Aaron/Otto(NEW YORK) — When it came to his home, architect and artist Adam Kalkin wasn't thinking of a white picket fence. Instead, he thought outside the box — way outside the box.

Kalkin's one-of-a-kind home is essentially two in one, consisting of a small cottage from the late 1800s nested within a 1900s-inspired airplane hangar.

The dynamic home is far from traditional, with a wide variety of high and low ceilings, dark and light rooms, and small and large spaces. There's even a rope for climbing in the center of the home, which he sometimes refers to as a "playhouse."

"It always creates interesting perspectives in there that you don't get from other traditional houses," Kalkin told ABC News of the unusual layout.

For his business, Industrial Zombie, Kalkin frequently works with unique building designs. After leaving New York City for the suburbs, he was certain he didn't want just another suburban home.

Kalkin bought a cottage in Somerset County, New Jersey, but, knowing it was too small for his family, he began thinking of creative ways to expand it. He soon added the Butler Warehouse around it.

"I was interested in creating a conversation between these different pieces," he said.

Peter Aaron/Otto

A decade after its construction, Kalkin's hope is that the look of his dynamic home continues to stay fresh, "like a Ferrari from the '50s," he said. "It’s a little bit of a Frankensteinian thing."

"I think it’s pretty great, and I think it’s inspired a lot of people from what I hear," the architect said of his work. "I think it opens possibilities in any person that comes and sees it."

Copyright © 2016, ABC Radio. All rights reserved.


Subscribe To This Feed

ABC News(NEW YORK) -- Donald Trump’s campaign app may be putting “America First,” but experts say it's not necessarily prioritizing users’ privacy.

The Trump campaign’s smartphone offering seeks to collect and store the contents of users’ address books -- potentially vacuuming up large quantities of personal data about individuals who have never used the application and who may be unaware that it’s in the hands of the campaign.

The app, titled "America First," was quietly launched on Apple’s App Store and the Google Play store as a free download last week.

In a series of interviews with ABC News, several electronic privacy experts expressed concerns about the scope of the Trump campaign app’s data collection techniques, even though all of the methods appeared legal. The experts warned that users may be unwittingly handing over personal data about themselves and their contacts -- potentially exposing all involved to undesired campaign communications, or, at worst, a host of abuses in the event of a malicious data breach.

The Trump campaign did not immediately respond to ABC News' request for comment.

According to the app’s privacy policy -- a common legal document that outlines a software vendor’s intentions for using users’ data -- the campaign “may access, collect, and store personal information about other people that is available to us through your contact list and/or address book.”

The Hillary Clinton campaign launched its app in July. Both campaigns collect data on those who use their apps -- including information about a user’s phone, their mobile network provider, and other uniquely identifiable data, according to the privacy policies available on the apps.

However, Trump’s app goes a step further by collecting information about other individuals through app users’ contact books.

“Trump’s is asking to collect significantly more data, and not just data about you, but data about anyone who might be in your contact list,” Nicole Ozer, technology and civil liberties policy director at the ACLU of Northern California, told ABC News.

Marc Rotenberg, executive director of the Electronic Privacy Information Center, said that Trump is "basically saying he has the right to pull down the contact list of the donors and supporters [using the app], which is something that is really very controversial."

Craig Spiezle of the Online Trust Alliance agreed, saying the policy was “very problematic,” and “not one that privacy or consumer advocates would consider reasonable.”

Collecting data from app users is not unique to the Trump campaign. However, Rotenberg said that the scope of the Republican nominee’s collection “in particular is egregious."

Of particular concern is the personal nature of data contained in modern electronic address books, which is often shared with personal confidants under the assumption that it will be kept private or shared with only the utmost discretion.

Address books on mobile phones don’t just contain phone numbers and email addresses -- which themselves may be private or sensitive. In many cases, they can contain notes about health information, snippets of emails, codes for security systems or garage doors, shared passwords, or even Social Security numbers.

Many people using apps that collect contact data, such as the Trump app, may not realize the extent of the information that they’re handing over, experts said.

The crucial decision is made during the initial registration process when the app is first launched.

Users are presented with a screen featuring the campaign logo superimposed over a photo of Trump. Beneath it they are presented with multiple options for registering an account with the app.

Further down still, in small text at the bottom of the screen, is a link to the app’s privacy policy, which, when clicked, takes users to the legal document on the campaign’s website.

During the registration process, ABC News journalists testing the app were presented with a pop-up screen requesting access to their address book. They denied the request and the app functioned normally during brief usage.

However, experts noted that privacy policies go partially or fully unread, and users often rapidly and impatiently click through pop-ups asking for permission to access the data. Some may not even know what a privacy policy is or that one is available, the experts noted.

A Pew Research study from late 2014 found that less than half of Americans polled correctly identified what a privacy policy is.

So, in many cases, users are unaware of what they’re about to hand over, experts said.

Additionally, some apps are coded so that they will not function if they are not granted access to requested data. Trump’s app appeared to function even though access to the contacts was denied, however, this is not made clear before the prompt.

“I think most people have this perception that if they don’t click yes, they can’t use the apps. It’s misleading at best,” Rotenberg said. “But it’s unfair when we look more closely at the Trump policy in particular, because it says, ‘You’re giving us the right to capture your contact list.’”

Even though it's legal to transfer data about people who may have never downloaded the app, the practice remains controversial.

“Here you have the situation where an individual is wanting to use the app, and they’re making decisions about other people’s privacy,” Ozer said.

“[Neither] the individual nor the app is making sure individuals in those contact lists knows their information is ending up in the hands of the campaign,” she added. “Just because you choose to use an app, doesn’t mean that all the people you come in contact with want information about them shared with that campaign or that company.”

“Your contact list are a treasure trove. They are potentially thousands of people that you know, and personal information about them that they might not share publicly. It can be their private mobile numbers, it can be there home addresses, it can be many other things about them that would be valuable to both companies and political campaigns,” she said.

But not all experts share those concerns about the practice.

“It is perfectly legal to do so,” said Albert Gidari, director of privacy at the Center for Internet & Society at Stanford Law School. Gidari noted that he is a Trump supporter.

“That you may betray your friends' privacy in doing so is a matter of your ethics, not the site's," Gidari told ABC News. "Do people stop and think about this? Of course not!”

The Trump app’s privacy policy notes that users who originally agree to share their contact data can later revoke this access on their device’s settings. However, the vast majority of privacy experts interviewed by ABC News expressed concern that the policy says nothing about whether data that had already been transmitted to the campaign’s servers would be deleted.

“A real revocation of that permission would require the Trump campaign -- or any organization -- to delete the information,” Rotenberg said.

The collection of this data is concerning, the experts said, in light of recent high-profile hacking attacks.

Recent data breaches at the Democratic National Committee and the Democratic Congressional Campaign Committee, as well as a number of other organizations and businesses, highlight how common the public exposure of private data by hackers has become.

“The more data, the longer its retained, the more likely that something can happen to it,” Ozer said. “That it ends up being used in a way that the individual did not intend or could end up being hacked or breached at some point down the line.”

While the Clinton privacy policy states that the campaign “takes reasonable measures to help protect information about you from loss, theft, misuse and unauthorized access, disclosure, alteration and destruction,” no such language exists in the privacy policy for the Trump app.

Copyright © 2016, ABC Radio. All rights reserved.


Subscribe To This Feed

ABC News(NEW YORK) -- Claudia Oshry has made a career out of simply being unemployed.

Known as @girlwithnojob, Oshry has a massive following on social media. With over 2.3 million followers on Instagram, she’s turned her lack of employment into a way of making money.

"It’s a loophole because having no job is my job," Oshry, 21, told ABC News’ Nightline.

Oshry’s journey to social media stardom began after she got fired from her first internship as a freshman at New York University.

She now maintains a steady stream of meme content on her Instagram that she refers to as “relatable humor.” Every day, she posts funny pictures with witty captions that illustrate a particular feeling or attitude.

The trick to a perfect post is using analytics, Oshry said.

"Analytics are really important. So I can see the top ten posts that have done the best, and they all have a re-occurring theme," Oshry explained. "They're all usually about watching Netflix on the weekend, not wanting to go out, needing to stay in, very self-deprecating, and I know something along those line the fit in that theme is going to do well."

In the past two years, Oshry said she’s seen a steady growth in followers, which she credits to her posts’ relatability.

"A lot of the things that I post remind people of their friend, or they can relate to it so much that they feel the need to tag their friend and be like, '@Amanda, look at this,'" Oshry said. "And that’s the best thing for me, 'cause that’s how I grow: them tagging their friends who might not follow me."

This level of engagement is highly attractive to big brands aiming to sell their products to young social media users -- and influencers like Oshry are cashing in.

"It doesn’t even matter how many followers you have. So sometimes a brand will be like, 'Oh she has five million followers, let’s work with her.' But she has bad engagement, they don’t realize that. So it might even be better to work with someone who has less followers but a higher engagement rate because you know more people will see it," said Oshry.

Oshry said she has a higher engagement rate compared to some celebrities on Instagram. For example, while Britney Spears has 12 million followers, one of Oshry’s last posts garnered more comments than Spears’ did.

Oshry’s influence helped her get a branding partnership with the liquor company Captain Morgan. She recently hosted a party for the brand in Las Vegas where 4,000 people attended.

"We’ve been partnering with influencers like Claudia. We’re looking for people who are a fit for the brand personality which she obviously is. She emulates fun, the cocktail culture," Melissa Upjohn, Captain Morgan brand manager, told Nightline.

For a gig like this, Oshry stands to net anywhere from $5,000 to $10,000, though she wouldn’t say how much money she’s been offered by brands.

"I’m not at liberty to discuss a number," she said.

When she’s not attending meetings or working on content, Oshry spends time with her fiancé Ben, who also has a wildly successful Instagram account called @boywithnojob.

"I was incredibly, incredibly, incredibly bored of Claudia sitting on her phone like this every night," Ben told Nightline. “We decided it was a good idea to try and segment the market."

Ben’s account recently hit one million followers, which he credits to Oshry.

Oshry hopes to expand her expertise even further by breaking in to the DJ game.

"For now it’s really more of a hobby and an added thing to when i go to events. I don’t think I’m in a place from a talent or skill standpoint to become a full time DJ," Oshry said. "Obviously that’s #GOALS, but I’m certainly not there."

Copyright © 2016, ABC Radio. All rights reserved.


Subscribe To This Feed

iStock/Thinkstock(NEW YORK) -- U.S. stocks ended lower on Wednesday as Federal Reserve officials hinted a rate hike in the near future.

The Dow lost 33.07 (-0.18 percent) to finish at 18,448.41, logging its lowest close in 3 weeks.

The Nasdaq dropped 5.49 (-0.11 percent) to close at 5,212.20, while the S&P 500 finished at 2,172.47, down 2.97 (-0.14 percent) from its open.

Crude oil rose just over 1 percent with prices hitting above $47 a barrel.

Copyright © 2016, ABC Radio. All rights reserved.


Subscribe To This Feed

Apple(NEW YORK) -- A pair of U.S. cybersecurity firms have announced the discovery of three vulnerabilities in the Apple iPhone operating system, a spokeswoman for Lookout, a mobile cybersecurity firm, said Thursday.

Lookout said that it and another firm, Citizen Lab, discovered the trio of vulnerabilities, and are calling them "Trident."

The companies have notified Apple of the vulnerabilities, the Lookout spokeswoman said.

Apple released a software update for affected devices Thursday afternoon. The Lookout spokeswoman said the update was related to the vulnerabilities.

Apple did not immediately respond to calls and emails from ABC News seeking comment.

A page detailing the update on the Apple website reads: "For our customers' protection, Apple doesn't disclose, discuss, or confirm security issues until an investigation has occurred and patches or releases are available."

Copyright © 2016, ABC Radio. All rights reserved.


Subscribe To This Feed

U.S. Consumer Product Safety Commission(NEW YORK) -- Approximately 20,000 baby strollers have been voluntarily recalled after many were found to have a defect that caused small children to fall out of their seat.

The Safety 1st brand's Step and Go Travel Systems strollers have a defect that allows the tray folding mechanism to disengage while it is supporting the infant car seat that can be attached to the stroller, according to the Consumer Product Safety Commission (CPSC).

Units with the model number TR314, 01451CCYA, 01451CDGI and 01451CDGJ are affected.

The CPSC said there have been 30 reports of the front stroller tray disengaging on one side. Another eight incidents were reported in Canada, according to the Canadian government. In both countries, no injuries were reported.

Dorel Juvenile, which owns Safety 1st, released a statement on its website regarding the recall.

"Dorel Juvenile is committed to manufacturing products with the highest standards for our users. Any recall is unfortunate particularly those affecting children’s products,” the company said. "We sincerely regret any inconvenience this recall may have caused you."

Around 20,000 of the affected systems were sold in the U.S. and another 5,787 were sold in Canada between May 2015 and June 2016. They were sold at Babies R Us as well as several online retailers, the CPSC said.

The strollers were made in China, and sold in the U.S. for between $250 and $300.

Consumers who believe they may own one of these models are being encouraged to contact Safety 1st to receive a repair kit.

Copyright © 2016, ABC Radio. All rights reserved.


Subscribe To This Feed

Rob Stothard/Getty Images(NEW YORK) -- Volkswagen has reached a "deal in principle" to compensate 652 VW brand dealers affected by its diesel emissions scandal, the company announced on Thursday.

The settlement amount has not yet been disclosed, but will involve cash payments to "resolve alleged past, current, and future claims of losses in franchise value," the automaker said in a statement.

Volkswagen -- which has admitted to installing "defeat devices" designed to circumvent Environmental Protection Agency emissions standards in nearly 500,000 diesel vehicles in the U.S. -- earlier this year agreed to a nearly $15 billion deal to resolve claims it misled regulators.

That deal included over $10 billion to buy back or repair affected vehicles and compensate consumers, $2.7 billion for environmental remediation and $2 billion to promote zero-emissions products.

At the time, dealers complained their woes were not addressed in that settlement. Thursday’s settlement involves a separate class action.

Copyright © 2016, ABC Radio. All rights reserved.


Subscribe To This Feed

ABC News(NEW YORK) -- He was one of the first investors in Skype, Hotmail and Tesla. Forbes has him on its Midas List, and Harvard calls him one of its most influential graduates.

So where does legendary venture capitalist Tim Draper see the biggest opportunities for investors now?

ABC News Chief Business, Technology and Economics Correspondent Rebecca Jarvis spoke to DFJ founding partner and the creator of Draper University on "Real Biz with Rebecca Jarvis" to get his advice:

1. How do you spot an entrepreneur worth investing in?

"I usually ask them, 'Why are you doing this?' because if their reaction is, 'Oh, I don’t know, somebody told me it was a good idea, dadadadadada' They’re out,” said Draper.

Instead, Draper says he looks for entrepreneurs like Tesla’s Elon Musk, who are willing to dedicate everything to their ideas, even if the rest of the world thinks they’re nuts.

"Elon goes, 'We’re going to Mars.' And then 95 percent of the population goes, 'He’s crazy,’” said Draper. “And the other 5 percent of the people go, 'How would we get to Mars?’”

2. Where are you looking for your next big idea?

"I look back at all the companies that have been very successful for me,” said Draper, "[and] all took on industries where customers were getting really bad service at really bad prices."

Draper believes the industries today with high costs and bad service are: medicine, cable, finance, even his own business, venture capital. Plus, he said, "The one that’s the real big opportunity that I’m looking at now is government. That’s where we get the worst service for the highest cost."

3. Are we in a technology bubble?

No, according to Draper.

“As long as you guys are still asking me if there’s a bubble, there’s no bubble,” he said.

Draper believes technology still has “a long way to go” before the bubble bursts.

Copyright © 2016, ABC Radio. All rights reserved.


Subscribe To This Feed

Geri Lavrov/Getty Images(NEW YORK) -- While it seems that the new features available in cars today can make your head spin -- from in-car WiFi to driver-less braking and parking options -- automaker Ford continually gets inundated with ideas from its customers for what they'd like to see. And if you've got what you think's a cool idea, chances are Ford's heard it before.

In fact, the automaker gets hit with the same ideas so often, it's posted an online list so customers can quit asking for them.

As Ford puts it: "If your idea is within the [list] -- we ask that you not submit. We do appreciate your submissions; for some of those [shown] we are already pursuing similar ideas, and with others we have decided not to pursue them. Reviewing these repeat ideas tends to slow our responses."

Here's Ford's list of the most commonly asked-for consumer innovations:

  • Dual fuel filler doors (one on each side of the vehicle), or in a specific location on all models (such as the rear of the vehicle).
  • Built in car jack assemblies for easier changing of tires, or working beneath the vehicle.
  • Infrastructure ideas requiring electrified roadways (will need government-sponsored effort).
  • Cars that do not use gasoline/diesel. Cars that use air/water to extend range (HHO, Brown's Gas, electrolysis, windmills, turbines, magnets on wheels/driveshaft, and solar).
  • Exterior indicator lights to notify others that occupants are not wearing their seat belts.
  • Disable cell phones and texting while driving.
  • Transition windshields/window screens for sun and/or element barrier.
  • Brake light changes to alert other drivers (intensity, flashing, location, color); these are regulated by law.
  • Occupant detection systems -- children/pets left alone in the vehicle.

Copyright © 2016, ABC Radio. All rights reserved.


Subscribe To This Feed

iStock/Thinkstock(NEW YORK) -- So, you managed to finish college and now, after a summer of relaxation, it’s off to your first job.

Sure, it may mean giving up access to your mom and dad’s Netflix account, but the trade-off will bring financial independence.

As you commence your new life as a working professional, here are three common money mistakes to avoid:

Getting scammed on an apartment and losing your stuff.

Dylan Young, a recent graduate of the University of Michigan, said he made a smooth transition to his first job in Salt Lake City, in part because he started searching for affordable apartments a couple of months in advance and shopped around until he found the best fit.

“I started looking on apartment listing websites and called a bunch of different places. Some wanted ridiculous deposits,” he said. “Then I found a one bed, one bath unit in a brand-new building, and only needed one month of rent for a deposit.”

Young was lucky. Rental scams abound, including hijacked listings that are copied from real landlords. The classic red flag of an apartment rental scam: A “landlord” who needs you to wire money to secure a hot apartment before it disappears.

How to avoid it? Reach out to your school’s alumni network. There may be email listservs or social media groups that can help with good housing deals.

Once you find your dream apartment, you’ll need renter’s insurance, and, depending on where you’ll be living, flood insurance. Contrary to what some may think, your landlord’s insurance policy for the building will not replace your personal possessions or cover your living expenses in the event of a catastrophe.

There are two main types of renter’s insurance: Actual cash value and replacement cost. The former pays to replace your possessions minus depreciation. The latter pays the actual cost of replacing your possessions with no deduction for depreciation.

The Insurance Information Institute recommends getting at least three price quotes. You can save money by agreeing to a higher deductible of $500 to $1,000; doing that can save you as much as 25 percent on your monthly premium. Another way you can save money is by bundling your renter’s policy with your car insurance.

Getting caught in alumni bank account limbo.

Many recent grads had college bank accounts with perks like no ATM fees, no checking account fees and no monthly minimum balance requirements. After graduation, all those goodies might end.

Be sure to find out how and when your bank account policies will change. Some accounts automatically convert to standard checking accounts and may introduce various fees or penalties if your balance dips too low. You might be able to avoid this by choosing to direct deposit your paychecks, so ask your bank about this.

With the growth of personal finance websites and apps such as Mint, Level Money and Goodbudget, there’s no shortage of resources to help millennials budget responsibly. Young says that’s been the key to living on his own.

“Financial budgeting is the biggest thing,” he says. “You’re very financially tied to your family in school, but in the real world, it’s your paycheck. It goes into your account, and if you want to blow that all at once, no one’s going to stop you.”

Losing money on a car.

A first job in a new city may mean getting some wheels. And for many millennials, that means buying a used car.

Before you buy, do your homework. Consumer complaints about automobile purchases consistently rank at the top of the national list because buying a car is such a big financial investment.

Used cars account for three out of every four cars sold, according to Jack Gillis, spokesman for the Consumer Federation of America and co-author of the annual new-vehicle guide, The Car Book. Gillis says there are a few ways millennials can avoid making mistakes when buying their first used car.

“The key is finding out as much about the history of the car as you can,” Gillis says. “That’s why buying from somebody you know can be a great way to get a good vehicle, and if you’re moving to a new town, putting the word out among professional colleagues and friends that you’re in the market for a used car is a great first step.”

But even if you buy a used car in a private sale from a friend, Gillis says you should always invest the extra $50 to $75 to have it inspected by trusted mechanic before you sign.

“There are certain things that a mechanic can uncover, such as flood damage or rolled-back odometers,” he says. “Those are good reasons to stay away.”

Worn brakes or old tires aren’t a deal-killer, but they could give you information to negotiate a better price. And be sure the vehicle you’re considering hasn’t been involved in any recalls by entering the VIN on to check the recall history.

The last piece of advice is more psychological than practical.

“The hardest thing for most folks to do is to not fall in love with any particular car,” Gillis says. “A lot of people fall in love with a particular car and end up making a bad choice either because the car doesn’t meet their needs or because it’s mechanically problematic. If you fall in love, you lose the psychological ability to walk away from a bad deal.”

Copyright © 2016, ABC Radio. All rights reserved.


Subscribe To This Feed

iStock/Thinkstock(LOS ANGELES) -- It may not be 623 E. 68th Street, but for a cool $1.75 million one lucky fan can call Lucille Ball's actual Hollywood home their own.

The 1,874-square-foot property boasts two beds, two baths, two decks, a fireplace, patio, and avocado and lemon trees, according to Zillow.

The home's address is located at 1344 N. Ogden Drive in West Hollywood, California, and is listed by Rhona Kohn of Keller Williams Realty.

The queen of comedy purchased the dwelling right around the time she signed a contract with RKO Radio Pictures. Soon after, she appeared in the 1933 musical comedy Roman Scandals and later met and fell in love with her young, Cuban co-star Desi Arnaz on the set of Too Many Girls in 1940.

The iconic couple would marry and go on to film I Love Lucy before moving into their Beverly Hills estate.

Copyright © 2016, ABC Radio. All rights reserved.


God Bless America & Our Home Louisiana !

Alexandria, LA
Partly Cloudy 74°F
  • 97% humidity
  • Winds at 7 mph
Full Forecast
970 KSYL On Air Now
George Noory
George Noory
12:00am - 6:00am
Coast To Coast AM

The KSYL Morning Report

Monday Thru Friday 7:10a


With Host

Dave Graichen

Click Player To Listen


The CBS World News Roundup

Click The Logo to listen

The Best Of The 60's & 70's

Now On Air At 100.3 HD2

Or Click The Logo Above

To Listen.


State Wire
North Rapides Business & Industry Alliance



All Weekend Long

It's a

Political Free Zone!

Kim Komando, The "Weekend" Roundup, Leo Laporte (The Tech Guy!), Art Bell, The Real Estate Show, Bill Handel, Chef John Folse "Stirin' It Up" , Doug Stephan's Weekend, The Pet Show & When Radio Was!.

New Shows!

Rudy Maxa’s World

Now A Full 2 Hours

Saturday 12 to 2p




Dr. Ronald Hoffman

Intelligent Medicine

Saturday 2 to 4p



LinkedUpRadio Envisionwise Web Services