News from the Reference Desk Category: Consumer

Leasing vs. Buying a New Car

Will you be needing a new car in the near future? Have you wondered what the advantages are to leasing a new car? Consumer Reports just published an article comparing and contrasting both approaches as well as a specific example that compares the financing details between buying and leasing a 2017 Honda Accord. There are pros and cons for both approaches but Consumer Reports provides all the necessary information in order to make an informed decision. The Library has a subscription to the online Consumer Reports which is linked on the Web Resources page–you will need your library card number and pin to access remotely. Please contact the Research Services Desk (847 590 4050/reference@mppl.org) on the second floor of the Library if you have any questions.

Turn Your Passion into a New Career?

It’s one of the things we all hear so much over the course of our lives–“find what you love to do and make it your career.” And while many have managed to find ways to accomplish this, for most of us it’s easier said than done. But that doesn’t mean it’s impossible, or that you shouldn’t even contemplate the possibility. The folks over at Practical Money Skills (produced by Visa, and one of the partners in this year’s Financial Literacy Summit held in April to kick off Money Smart Week) have put together a few strategies and guidelines to consider if you’re someone who is looking to make a change in their life and career.

Financial Advisors and the Dept. of Labor’s New Fiduciary Rule

As of June 9, 2017, a new Fiduciary Rule put forth by the Department of Labor will go into effect, potentially changing the level of accountability for many financial advisors currently not officially considered a “fiduciary.” The new rule expands the “investment advice fiduciary” definition under the Employee Retirement Income Security Act of 1974 (ERISA). Essentially, the Department of Labor’s definition of a fiduciary demands that advisors act in the best interests of their clients, and to put their clients’ interests above their own. It leaves no room for advisors to conceal any potential conflict of interest, and states that all fees and commissions must be clearly disclosed in dollar form to clients. The definition has been expanded to include any professional making a recommendation or solicitation — and not simply giving ongoing advice. Previously, only advisors who were charging a fee for service (either hourly or as a percentage of account holdings) on retirement plans were considered fiduciaries.

Read HERE for a more detailed explanation.

Two New Databases for Small Business Owners and Entrepreneurs

MPPL has recently added two new and exciting databases from Gale focused on resources ideal for entrepreneurs and small business owners: Business Insights: Global and Small Business Resource Center. Available as part of our Web Resources and accessible to anyone inside the library (and remotely at home for MPPL cardholders), these two powerful resources offer information and help around everything from writing a business plan, market research and industry reports to company information, funding sources and management strategies. If you’re someone working to start your own business or simply looking for ways to enhance your current one, take a moment to explore these rich and user-friendly tools!

Fake News Resources

What is Fake News?

“Fake news is made-up stuff, masterfully manipulated to look like credible journalistic reports that are easily spread online to large audiences willing to believe the fictions and spread the word.”– PolitiFact

Fake news is a type of completely made up and deliberately spread story, manipulated to resemble credible journalism and to attract maximum attention and, with it, gain revenue or political gain.– The Guardian

Fake News is NOT:

-New– it’s been around since the advent of printing.
-News you disagree with
-News that paints someone who you admire in an unflattering light.
-Satire (see below).

How to Spot Fake News

-Some sites are upfront about publishing satire, e.g. The Onion, Borowitz Report, ClickHole. Check the “About” section of a site if unsure.
-Avoid sites that end in “.com.co” and “lo”; these are more often than not entire fake news sites.
-Be aware of promoted or sponsored posts– companies have paid for these to appear on social media feeds, websites, and even Google searches.
-If a story elicits a strong emotion response, read on! Shocking headlines (clickbait) are often designed to stun readers into sharing them without fully reading the article.
-Use multiple sources to fact-check stories.

Albuquerque Public Library Guide to Fake News
FactCheck.org
PolitiFact
Snopes
AllSides
Hoaxy
25 Fake News Sites Found on Facebook (compiled by Dr. Melissa Zimdars of Merrimack College)
The News Literacy Project
12 Examples of Native Ads (And Why They Work)