You’re probably already aware that the Fed voted unanimously in late September 2026 to raise its benchmark federal funds rate by 25 basis points. This lifted its target range from 3.5%-3.75% to 3.75%-4%. It was the first rate hike since July of 2023. And there’s the distinct possibility of another one just around the corner […]

In the United States, one of the only developed countries in the world without universal healthcare coverage, about 8% of the population is uninsured. That equates to roughly 27 million people. Meanwhile, 23% of working-age adults are considered underinsured. This is the result of high out-of-pocket costs and deductibles that put a significant strain on […]

Consumers are sensitive to price changes. And many are feeling the squeeze these days. Small business owners are also facing this pressure, but at a much larger scale. As a small business owner in Michigan, you know that you can only charge so much for products or services before customers seek more cost-effective alternatives. Yet, […]

Did you know that interest rates move in lockstep with the Fed’s rates? The Fed’s key borrowing rate acts as a benchmark for other loans. So when their rates increase, so do yours. In the past year, existing rates have led to tighter lending restrictions for nearly everyone seeking a loan. For instance, the Fed […]

Has your business fallen on hard times? Have you taken out a variable-rate loan to help you through? While a variable-rate loan may seem like a viable solution, it’s important to understand that you’re at the mercy of changing interest rates. And as any Michigan bankruptcy attorney will tell you, an increase in interest rates […]

If you own a business, you’re likely bombarded with offers for merchant cash advances (MCAs). They’re largely easy to ignore, unless you’re having business cash flow issues. Then they might seem very appealing. After all, you get fast approval and funding, there’s minimal credit requirement, and no collateral is needed to secure short-term business funding. […]

Did you know that roughly 23 million in the United States owe over $250 in healthcare costs? To add salt to the wound, at the time of publication of this post, the elimination of health insurance subsidies of the Affordable Care Act (ACA) has sent health insurance premium costs rocketing. And while ACA insurers are […]

Are you a Michigan resident feeling an overwhelming amount of financial strain? If so, you’re not alone. Michigan recorded its highest level of bankruptcies in 2025 since the COVID pandemic. Michigan had 16,373 bankruptcies in 2025, which was 89 more than in 2024. And only 243 less than in 2020, when the state was under […]

Did you know that foreclosures are up in 2025 as compared to 2024? There was a 12% increase in completed foreclosures for the first half of 2025 compared to the same period in 2024. September 2025 saw a 20% year-over-year jump in completed foreclosures, while October 2025 saw a 32% jump. There is distress in […]

Consulting firm Challenger, Gray & Christmas reported that employers announced 153,074 job cuts in October of 2025. That’s a 175% rise from the 55,597 cuts announced just a year ago in October of 2024. The industries experiencing the most cuts were tech, retail, warehousing, and the service sector. This doesn’t mean that others haven’t been […]