What I’m Reading on May 13, 2016

For Nebraska’s Poor, Get Sick and Get Sued

Nebraska’s flood of suits isn’t merely a reflection of residents’ inability to pay their bills. About 79,000 debt collection lawsuits were filed in Nebraska courts in 2013 alone, according to a ProPublica analysis. In New Mexico, a state with a population, like Nebraska’s, of around two million, about 30,000 suits were filed. Yet by virtually any measure, households in Nebraska are significantly better off than those in New Mexico: Income is higher. Poverty is lower. And fewer families fall behind on their bills.

The reason for the difference is simple. Suing someone in Nebraska is cheaper and easier. – Read the rest…

Google Just Gave Payday Lenders The Boot From Its Massive Advertising Network

Payday lenders will lose access to Google’s biggest online ads network this summer. The search engine giant announced Wednesday it will stop helping the predatory lending firms market their services, the Washington Post reports.

The advertising ban goes into effect in mid-July. From that point on, search results pages will stop displaying paid marketing from payday lenders. – Read the rest…

How money changes everything, even your friendships

The first thing they found was that people with higher incomes spent less time socializing overall: Compared to a low-income individual (earning $5,000 a year), a person from a higher-income household ($131,000 a year) spends, on average, 6.4 fewer evenings each year socializing with other people — even after controlling for differences in hours worked.

But people with financial means don’t need to worry about this as much. They pay a guy to mow the lawn, and if the washing machine breaks, they can either pay someone to fix it or simply buy a new one. Being rich means you can spend your time with who you want, when you want — and that might mean that you spend more time cultivating friendships you’ve built based on shared values and interests. “Money frees people to be socially connected with those they choose rather than those who can provide resources,” Bianchi and Vohs observe.- Read the rest…

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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