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How to Money

Friday Flight - Longer Loans, Prepaying Principal, & Higher Heating Bills #894

Oct 18, 2024
Dive into the world of personal finance insights with discussions on long loan terms and the implications of higher heating bills. Learn about the FTC's efforts to simplify service cancellations for consumers. Explore the rising costs of luxury goods and the allure of tattoos. Understand the challenges of car loans and the impact of AI on real estate, particularly in streamlining home buying. Plus, get practical tips on managing mortgage and utility costs amidst changing economic conditions.
35:28

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Quick takeaways

  • The proposed FTC rule aims to simplify service cancellations, empowering consumers by allowing for informed decision-making about subscriptions.
  • Rising car prices and longer loan terms are leading to financial strain, with experts recommending alternative approaches to car financing and maintenance.

Deep dives

FTC Click-to-Cancel Rule

The Federal Trade Commission (FTC) has proposed a new rule requiring companies to make the cancellation process as straightforward as their signup procedures. This initiative aims to alleviate consumer frustration with complex cancellation protocols often employed by service providers like gyms and cable companies. The rule was inspired by the notion that making it easier to cancel services could result in companies retaining fewer customers, leading to a healthier marketplace. Advocates of the rule argue that it empowers consumers, allowing them to make informed decisions about their subscriptions without unnecessary hurdles.

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