Real life

It seems as if any little hiccup in the Middle East causes gas prices to shoot through the roof. The oil companies are certainly looking for ways to boost the price to draw in as much income as possible. But now, after an oil attack on Saudi Arabia, and promises of retaliation, this sudden acceleration of trouble in the region could dramatically increase gas prices.

It’s this sudden increase that could push the global economy one step closer a recession. Many nations around the world are already teetering on the edge, including recent indications from the United States. The U.S. is further from a recession than, let’s say, Germany whose economy has been dropping like a stone in recent years.

Yet, a growing trade war with China is have global economic effects felt across every sector. Gas prices have been fairly low lately, with the price per barrel at $54.82 last Friday. Now analysts are predicting prices in the upper $70s as a result of this attack. No one knows yet exactly who committed the attack, even though the United States places the blame firmly on Iran. Iran has denied the accusation.

“The events in Saudi Arabia have ratcheted up tensions in the Middle East to a new level raising concerns about supply security,” said Chris Midgley, global head of analytics for S&P Global Platts. “Price could move higher if Saudi production is confirmed to be curtailed for a more substantial period which is not our current assumption,” he

U.S. Could Tap into Reserves

Kellyanne Conway, advisor to President Trump, suggested that if oil prices do rise dramatically and a shortage takes place due to escalating tensions, the U.S. could make a move. Currently, the United States is the world’s #1 oil producer, and we still have what’s called a Strategic Petroleum Reserve. This reserve is only opened in the case of an emergency. By flooding the market, it could keep gas prices down, at least here.

It’s unknown if whether the U.S. reserves would be pumped into the global market. At the very least, expect the price of gas to jump in the next few days. If you haven’t filled up yet, do so now while the prices are low enough. Oil prices have been creeping down in recent weeks, so this news is unwelcome, especially when it’s unknown exactly what happened in Saudi Arabia on Saturday.

The plant that exploded, the Abqaiq plant in Saudi Arabia’s Khurais oil field, pumps out 5% of all the oil in the world each day. Now that it’s shut down, expect the impact to be immediate unless the reserves are opened right away.

Ahh, the smell of free money. If your student looking for extra money to get through college, the best thing you can do is apply for scholarships. It’s literally free money that you don’t have to pay back. Every dollar that you get in scholarship money is another dollar that you don’t have to take out student loans.

By reducing the amount that you take out in loans, the quicker and easier it will be to pay it back. It also means there’s less time for additional interest to accumulate on to what you already owe. This is why applying for a scholarship is a great way to help lessen the student loan burden.

The problem is, getting a scholarship can be a little bit of a complicated process. You actually have to apply for them and get accepted. Many students feel as if this isn’t worth the time and effort, as if adding additional weeks, months, or years towards paying off their student loan debt is going to be easy.

And yes, it’s possible to be denied a scholarship. If this happens, it’s usually due to a number of different circumstances, many which are simple to understand. Let’s take a look at several reasons why you might’ve been denied a scholarship.

1) You Didn’t Turn in Your Application in Time

One financial aid officer revealed an interview that she contacted three students who would potentially qualify for a particular scholarship. All three individuals reacted differently. The first one completed the application and turned it in on time. The second had a family issue and asked if it was possible to delay the deadline.

The third didn’t really understand the concept of the deadline. And this is what can get tricky. The deadlines are completely arbitrary and are set up to see how seriously you take applying for a scholarship. They’re going to give you free money that you can put towards your college so the least you can do is take the application process seriously. Get your applications in on time and follow the rules.

2) Thinking It’s Not Worth the Time

Sometimes students have the wrong view about scholarships. They believe that only the elite students are going to get one. While in many instances having a 4.0 average is something a lot of scholarships might look for, many will overlook a few discrepancies and grades if the student finds a way to stand out from other applicants.

Again, getting a scholarship can save you a lot of time and money down the road. You should still apply even if you think it’s not going to be worth your time. You might get denied, but you might show something to the person granting the scholarship that allows them to say yes and that’s always worth it.

3) Thinking There’s Too Much Competition

If there’s a lot of money on the line within any given scholarship, a student might decide to pass on it because there’s a lot of others probably applying for the same thing. A lot of applicants might mean you have less of a chance of being awarded. The truth is, that’s not necessarily true. Many of the best scholarships actually have very few applicants for this very reason.

As stated above, it bears repeating. You have no idea what the outcome is going to be or what the grantor of the scholarship is going to see on your application that gets you approved. Still, you should apply no matter what the excuse is.

In the U.S. there are more single women working than at any other time in the past, and that’s having a direct impact on the economy. These women contribute nearly $7 trillion. It’s estimated that in the next decade, nearly half of all working women will be single. This is data according to the Bureau of Labor Statistics.

According to other research from Morgan Stanley, women have always been the bigger spenders in the average U.S. household. They even spend more money than married women, which is why this shift is important to note. Personal care, food, luxury items, footwear, and electric cars are all being boosted by this demographic.

Single women have more money to spend on themselves, where married women tend to be more family focused. They even spend more on personal care, like massages and making sure they look good. Currently, men are the largest buyers in the country when it comes to larger purchases, like cars. Women are certainly taking a larger piece of that pie for sure, giving car companies a massive boost.

Women Spend More on Basic Needs

Don’t let the first part of this article fool you. Women just don’t buy lipstick and yoga pants. They are also more likely to be heading low-income households. Single mothers who are low-income spend as much as 82% of their entire budget on necessities, according to a report from the Brookings Institute.

“Low-income households, which are more likely to be headed by women, spend 82% of their budget on basic needs like housing, food, transportation, health care and clothing,” said Lauren Bauer, fellow in economic studies at the Brookings Institution.

Housing usually takes up more of the budget, especially the less money you make. But women aren’t just staying at home. More women than ever are going back to college and getting degrees to have the opportunity to get better jobs. As millennials and the younger generations are putting off marriage, they have no choice but to focus on taking care of the bills.

80% of all single women in the country are working or looking for work. That’s going to force companies to make some decisions in the future.

“We have to talk about releasing the pressure on the household,” said Pam Jeffords, partner and diversity & inclusion leader at PwC. “This means for employers to think about care — both for children and parents — as a condition for employment rather than a benefit. Organizations need to stop assuming that there’s one kind of traditional family unit that needs one kind of support,” she said.