The Money Section | A presidential strike?

͏Also, 6 ways to start saving and investing. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ [The Charlotte Observer]( September 27, 2023 • Issue #52 [The Money Section] This week, we’re looking at Biden’s historic move to join the United Auto Workers strike, why tens of thousands of homebuyers in the U.S. are canceling their purchases at the last minute, and six ways to start saving and investing. Shutdown deja vu. [Shutdown]( Olive Burd / Money; Getty Images The U.S. is once again facing a potential government shutdown as lawmakers struggle to reach an agreement on a spending package before the September 30 deadline. A government shutdown could have wide-reaching consequences, including furloughed federal workers, airport delays, disruptions to benefits programs, and more. [Here’s what you need to know.]( 🚗 Auto workers’ strike gains ground. The United Auto Workers (UAW) has expanded its strike against General Motors (GM) and Stellantis to include parts distribution centers across 20 states, affecting 38 facilities. However, they have been making progress with Ford on negotiations and have therefore [spared them from additional strikes.]( ⭐ A presidential strike. President Biden joined the United Auto Workers union strike in Detroit on Tuesday, marking the first time a sitting president has joined a picket line. He praised the workers for their role in the auto industry’s recovery and green transition and expressed his support for fair wages and benefits. [Read more.]( Homebuyers are getting cold feet. [Cold Feet]( Money; Getty Images Tens of thousands of homebuyers in the U.S. are canceling their purchases at the last minute due to the high costs of homes and rising mortgage rates. In August, 15.7% of Americans with home-purchase agreements canceled their contracts before finalization, up from 14.3% a year ago. [Read more.]( 🏠 Home sales fall in August. Sales of newly built homes in the United States fell 8.7% in August compared to July, reaching a seasonally adjusted annualized pace of 675,000 units. This is the slowest pace since March, as rising mortgage rates took a toll on demand. The median price of newly built homes sold in August was $430,300, a 2% drop compared to the same month last year, as homebuilders are offering [incentives and price reductions to offset the impact of higher interest rates.]( 📉 Consumer confidence falls to a four-month low. U.S. consumer confidence has fallen to a four-month low in September due to concerns about higher prices and fears of a recession. The Conference Board's consumer confidence index dropped to 103.0 this month, the lowest reading since May, reflecting higher interest rates and worries about the political environment. [Read more.]( Retirees are headed back to work. [Retirees]( Money; Getty Images Millions of retirees in the United States have returned to the workforce after the retirement surge caused by the COVID-19 pandemic. According to a recent report, about 20% of retirees are working either full- or part-time, with many citing social and emotional benefits as their motivation rather than financial necessity. [Read more.]( 💰 How much savings do Americans still have? After the pandemic, U.S. households grew their savings significantly due to government stimulus and fewer spending opportunities. However, the question now is how much of those savings remain… [and what to do with them.]( 🏦 Here are 6 ways to start saving and investing. Over 20% of Americans lack savings or investments, making them financially vulnerable to unexpected expenses or retirement challenges. Experts recommend [these six steps to begin saving and investing.]( Smart Money Move Save time and money by letting the pros handle your back taxes [Relief] [Relief]Are you struggling with more than $8,000 in back taxes? If so, a tax relief company could be the lifeline you need. These firms can help taxpayers like you potentially lessen the financial burden caused by IRS obligations through options like payment plans and pausing collections during financial hardship (if you’re eligible). By resolving tax issues efficiently, these companies may be able to help you regain control of your finances and take a step toward a debt-free life. [View our Best Tax Relief Companies list today to view options with 100% money-back guarantees, A+ BBB ratings, and free consultations.]( Stories we're reading this week - [College Tuition Payment Plans Can Stick Students With Exorbitant Fees: Report]( - [5 Steps to Take Now to Get Ready for the Return of Student Loan Bills]( - [US Government And 17 States Sue Amazon In Landmark Monopoly Case]( - [Target Announces Nine Store Closures, Cites 'Organized Retail Crime']( - [Free Weekly Credit Reports Are Now Available Permanently]( - [What the Fed’s Interest Rate Pause Means for Mortgages, Savings Accounts and More]( - [JPMorgan's Jamie Dimon Says Interest Rates 'May Go Up More,' Says He Hopes For Soft Landing]( The Money Section is written in partnership with Money Research Collective This email was sent to {EMAIL} because you are signed up to receive marketing emails or newsletters from The Charlotte Observer. 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