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Nick Wallace

Personal Finance Expert

Nick Wallace studied Economics at the University of Washington. He enjoys getting people thinking about finances by looking at the numbers. Nick is a freelance journalist and data analyst living in Michigan. He still lends his economic and analytic expertise for SmartAsset's studies.

Posts by Nick Wallace:

by Nick Wallace Mar 14, 2017

Millennials, now the largest age cohort in America, are different than prior generations in a number of ways. They are less likely to get married, for instance. 65% of present day 18-to-35-year-olds have never been married, compared to the 40% of young adults who had never said “I do” in 1980. Another key difference between millennials and prior generations is housing. Whereas in 1980 almost 44% of adults under age 35 owned their home, today that rate is just 35% (likely in part because millennials simply cannot afford to buy in many cities). Read more

by Nick Wallace Apr 04, 2018

1976 was a year that changed the wine world forever. On a spring afternoon in Paris, a British wine merchant brought together a panel of esteemed French sommeliers to hold a blind tasting comparing several French and Californian wines. It was an all but foregone conclusion that the French experts would prefer the French wines. But then the unthinkable happened: the sommeliers chose the American wines. Read more

by Nick Wallace Dec 04, 2017

The median pay among STEM workers in 2014 was more than $72,000. That’s more than double the median income among all occupations, according to Bureau of Labor Statistics data. Few would argue, however, that STEM workers are generally overpaid. Experts in the fields of science, technology, engineering and math are key contributors to economic growth. Furthermore, STEM occupations generally require years of rigorous and difficult training. Read more

by Nick Wallace Feb 13, 2017

In modern America, being single is too often conflated with being lonely. This is especially true on Valentine’s Day, when couples celebrate their love with gifts and flowers and expensive dinners… Read more

by Nick Wallace Feb 17, 2017

Recent population trends suggest that Americans are tired of the cold. While states like Illinois, Pennsylvania and New York have experienced an outflux of residents in recent years, states like… Read more

by Nick Wallace Jan 26, 2017

The home mortgage interest tax deduction is one of the most common deductions claimed on federal income tax returns, but that doesn’t mean most taxpayers are taking advantage of it. In fact,… Read more

by Nick Wallace Feb 01, 2017

Your wedding is supposed to be one of the best days of your life – but it can also be one of the most expensive. In 2014, the average wedding in the U.S. cost $31,213, according to The Knot’s Real… Read more

by Nick Wallace Jan 20, 2016

Renewable energy has been gaining steam in recent years. Windmills are popping up on ridges and in fields throughout the country, and solar panels are covering more roofs every day. From 2008 to 2013… Read more

by Nick Wallace Jan 19, 2016

According to a report from the Institute for College Access & Success, the average 2014 graduate with loans owed nearly $29,000. With that much debt, paying off student loans can seem nearly… Read more

by Nick Wallace Aug 20, 2018

It’s no secret that buying a home is out of reach for many young Americans today. Studies have shown that the number of renters are increasing. And for many of those who rent, living with a roommate… Read more

by Nick Wallace Jan 13, 2016

Tax season is upon us. While we all dread doing our taxes, for many Americans there is a light at the end of that dark tunnel: a tax refund. Not everyone gets one, and the refund itself is money that… Read more

by Nick Wallace May 18, 2018

Fact: Americans love beaches. From Miami Beach to Venice Beach to Coney Island, we love to sit in the sand next to the sea and soak up the sun. We love listening to the waves roll in and we love to… Read more

by Nick Wallace Jan 12, 2017

In this age of tuition inflation, every dollar helps when it comes to paying for college. While student loans have become increasingly common in the U.S. (70% of 2015 graduates had student loan debt,… Read more

by Nick Wallace Jun 15, 2017

According to Transunion, in the third quarter of 2015 Americans with credit card debt owed an average of $5,232. While thousands of dollars of credit card debt may be manageable for some, for others… Read more

by Nick Wallace Feb 14, 2018

We may be living in the golden age of good beer. According to the Brewers Association, there are more breweries and brewpubs in the United States today than at any point in the past century. And the… Read more

by Nick Wallace Dec 20, 2016

In the story of the great recession and the ensuing recovery, 2015 may be remembered as the year the economy finally returned to full strength. Unemployment is at its lowest rate in a decade. Housing… Read more

by Nick Wallace Sep 20, 2018

According to data from the U.S. Census Bureau, millennials (born between 1980 and 2000) are buying homes at a far lower rate than previous generations. The 2015 Q3 homeownership rate for adults under… Read more

by Nick Wallace Nov 29, 2016

Shorter days, cold weather, lousy produce: there’s much to dislike about winter. Indeed, surveys of public opinion routinely find that winter is America’s least favorite season. (Spring and fall… Read more

by Nick Wallace Dec 09, 2015

Rent increases have become a fact of life in many of America’s largest cities. The question is no longer whether or not rent will increase, but by how much. There are numerous potential causes for… Read more

by Nick Wallace Apr 10, 2017

According to a survey by Nielson, the top two New Year’s resolutions in 2015 were both fitness-related. The number one resolution, claimed by 37% of survey respondents, was “stay fit and healthy,”… Read more

by Nick Wallace May 18, 2018

White elephant! No, not an actual white elephant with tusks and a trunk – we’re talking about a white elephant gift exchange. It’s a holiday tradition for offices and extended families throughout the… Read more

by Nick Wallace Dec 07, 2015

The idea is a simple one. Put on a really ugly sweater. Invite some friends over under the condition that they also wear truly hideous sweaters. Merriment ensues. Yet, despite that straightforward… Read more

by Nick Wallace Dec 02, 2015

Shopping season is upon us. For some holiday shopping is a chore and a headache, synonymous with long lines and baffling return policies. Well good news for the Grinches: the rise of online retailers… Read more

by Nick Wallace Nov 02, 2016

Research has found that city-dwellers can benefit mentally and physically from as few as five minutes in a forest or a green space. Yet, in many urban parts of the United States, access to such areas… Read more

by Nick Wallace Nov 18, 2015

What’s your favorite Thanksgiving dish? If you suffer from a severe sweet tooth, pumpkin pie may be your poison. Cranberry sauce is a classic, though opinions are divided on whether the berries… Read more