Considering moving to Tennessee? This state is full of picturesque landscapes, dynamic urban areas, and a growing tech industry, making it a prime choice for relocation. With its iconic cities, scenic mountain views, and a rich cultural scene, Tennessee offers a diverse living experience. Whether you’re looking at houses for sale in Knoxville, renting in Chattanooga, or exploring houses for rent in Nashville, here’s what you should know about moving to Tennessee.
Tennessee at a glance
The state’s landscapes range from the majestic peaks of the Smoky Mountains to the serene rolling hills of the Cumberland Plateau, providing a variety of outdoor activities. Large cities like Memphis and Nashville are cultural hubs, renowned for their lively music scenes, history, and entertainment options. Major sectors driving Tennessee’s economy include energy, technology, and healthcare, with prominent companies such as FedEx and HCA Healthcare headquartered here.
Culturally, Tennessee is rich with world-class museums like the Country Music Hall of Fame and the National Civil Rights Museum, alongside notable music festivals such as Bonnaroo and Memphis in May. The state’s culinary scene is equally diverse, featuring everything from Memphis barbecue to Nashville hot chicken. Educational opportunities are robust with institutions like the University of Tennessee and Vanderbilt University adding to the state’s atmosphere. For those seeking affordable places to live, cities like Clarksville and Johnson City offer lower living costs while maintaining a high quality of life.
1. Tennessee has a significant musical heritage
Tennessee’s musical heritage is renowned worldwide, with Nashville earning the nickname “Music City” for its pivotal role in country music. The Grand Ole Opry, the Ryman Auditorium, and the Country Music Hall of Fame attract music lovers from across the globe. Memphis also has a rich musical history, being the birthplace of rock ‘n’ roll at Sun Studio and home to the legendary Beale Street, where blues musicians like B.B. King and Elvis Presley once performed. Additionally, cities like Bristol, recognized as the birthplace of country music, and Dollywood in Pigeon Forge celebrate the state’s deep musical roots through festivals and performances that honor Tennessee’s enduring influence on American music.
2. The state has a low cost of living
Tennessee’s lower cost of living is a major draw, with the median home sale price of $400,900 and average rental prices for a one-bedroom apartment in cities like Memphis hovering around $978 per month. While Nashville and Knoxville offer more urban amenities, cities like Chattanooga and Clarksville provide more affordable housing options without sacrificing quality of life. In fact, the cost of living in Chattanooga is 9% lower than the cost of living in Nashville. Beyond housing, Tennessee residents benefit from lower costs in utilities, groceries, and healthcare compared to the national average. This overall affordability makes Tennessee an attractive choice for those looking to maximize their budget without compromising on lifestyle.
3. Hot chicken is a local delicacy
Nashville hot chicken is a fiery local delicacy that has gained nationwide fame. This spicy fried chicken, typically served with pickles and bread, originated at Prince’s Hot Chicken Shack in Nashville. Today, you can savor this culinary treat at numerous local eateries, including Hattie B’s and Bolton’s Spicy Chicken & Fish, each offering their own unique twist on the dish.
Insider scoop: For a truly local experience, visit during the Nashville Hot Chicken Festival held every Fourth of July, where you can sample the best hot chicken from various vendors and enjoy live music and various activities.
4. There’s no state income tax
One of the financial perks of moving to Tennessee is the absence of state income tax, allowing residents to keep more of their earnings. This policy makes Tennessee particularly attractive to individuals seeking lower overall tax burdens. The savings on state income tax can be significant, especially compared to neighboring states with higher tax rates. For budget-friendly individuals, this means more disposable income for everyday expenses, savings, or investments, enhancing their overall financial well-being. Considering the pros and cons of living in Tennessee, this tax advantage is a notable benefit that can positively impact your financial planning.
5. The state is known for its Tennessee whiskey
Tennessee is renowned for its Tennessee whiskey, a distinct style of whiskey that follows a specific production process unique to the state. This includes the Lincoln County Process, where the whiskey is filtered through charcoal before aging, giving it a smooth, mellow flavor. The most famous brand is Jack Daniel’s, whose distillery in Lynchburg is one of the oldest registered distilleries in the United States. This iconic site offers guided tours where visitors can learn about the whiskey-making process and the history of Jack Daniel’s, ending with a tasting of their renowned products.
Travel tip: Plan your visit to the distillery during the annual Jack Daniel’s World Championship Invitational Barbecue in October, a festival that combines delicious barbecue, live music, and, of course, plenty of Tennessee whiskey.
6. The internet is fast in Chattanooga
Tennessee has some of the fastest internet speeds in the country, thanks to initiatives like Chattanooga’s EPB Fiber Optics network. This gigabit-speed internet service has positioned Chattanooga as a tech-friendly city, attracting startups and tech companies. Whether you’re working from home or streaming your favorite shows, you’ll appreciate the robust and reliable internet connectivity.
7. Smoky Mountains National Park is the most visited national park in the U.S.
The Great Smoky Mountains National Park, straddling the border between Tennessee and North Carolina, is the most visited national park in the U.S., attracting millions of visitors each year. This expansive park features over 800 miles of hiking trails, including the challenging Alum Cave Trail and the scenic Clingmans Dome, the highest peak in the park. Visitors can explore diverse ecosystems, from lush hardwood forests to rolling mountain meadows, and observe a wide range of wildlife such as black bears, elk, and deer. The park also boasts historic sites like Cades Cove, where preserved log cabins and barns offer a glimpse into early Appalachian life.
Travel tip: For a less crowded experience, visit during the shoulder seasons of spring and fall, when the park’s natural beauty is at its peak and parking is more accessible, allowing for a more serene exploration of the trails and overlooks.
8. There’s a theme park dedicated to Dolly Parton here
Dollywood, located in Pigeon Forge, is a popular theme park founded by country music legend Dolly Parton. The park offers a mix of thrilling rides, live entertainment, and traditional crafts, all set against the backdrop of the Smoky Mountains. Dollywood also hosts seasonal festivals and events, making it a year-round destination for fun.
Insider scoop: To make the most of your visit, arrive early and head straight to the most popular attractions like the Lightning Rod roller coaster and the Wild Eagle flight ride before the lines get long.
9. The BBQ in Tennessee is distinctive
Moving to Tennessee, you’ll become familiar to its distinctive barbecue, with Memphis standing out as a premier destination for this culinary tradition. Memphis-style BBQ is characterized by its dry-rubbed ribs, which are seasoned with a blend of spices before being slow-cooked to perfection, and pulled pork, which is often served with a tangy, tomato-based sauce known for its unique sweet and spicy flavor. Notable BBQ joints include Charlie Vergos’ Rendezvous, known for its iconic dry-rubbed ribs and secret seasoning blend; and Interstate Bar-B-Q, which offers a variety of smoked meats.
10. The state is filled with Civil Rights history
Tennessee is deeply embedded in Civil Rights history, with several key locations marking pivotal moments in the struggle for racial equality. In Memphis, the National Civil Rights Museum is housed in the Lorraine Motel, where Dr. Martin Luther King Jr. was assassinated in 1968, offering comprehensive exhibits. In Nashville, the historic Fisk University is renowned for its role in early civil rights activism, and the city was a center of the 1960s sit-in movement. These sites, among others, provide insight into the state’s significant tie with the movement.
11. You’ll need to prepare for the tornados
Tennessee’s location in the southeastern United States means it is susceptible to tornadoes, especially during the spring and fall seasons. The state’s flat terrain and warm, moist air make it a frequent target for tornado activity. It’s crucial for residents to have emergency plans, including knowing local shelter locations and having a weather radio for alerts. Many homes are equipped with storm shelters or safe rooms to offer protection during severe weather events. Communities often have tornado sirens and conduct regular drills to prepare residents for potential emergencies.
Methodology
Population data sourced from the United States Census Bureau, while median home sale prices, average monthly rent, and data on affordable and largest cities are sourced from Redfin.
Wells Fargo was supposed to be a major beneficiary of higher interest rates, but depositors seeking more bang for their buck and soft loan demand from business customers combined to to pinch profits in the second quarter.
The bank’s stock price fell 6% in mid-afternoon trading Friday, as investors absorbed the disappointing news about how much interest income the megabank is raking in.
High borrowing costs helped lead to “tepid” loan demand from businesses, said CEO Charlie Scharf, putting a lid on how much interest the bank can collect. All the while, the $1.9 trillion-asset company had to shell out more in interest to keep depositors happy, since they can find higher interest rates elsewhere.
The two factors caused Wells Fargo’s net interest income — the difference between its interest revenues and its interest expenses — to fall to just under $12 billion for the first time since the Federal Reserve started raising rates in 2022.
“They’re still having to pay more to their deposit customers,” said Kyle Sanders, senior equity research analyst at Edward Jones. “Until the Fed cuts, that’s going to continue to happen.”
Investors’ negative reaction on Friday grew out of their expectation that Wells Fargo might upgrade its net interest income guidance for the year, Sanders said. The bank’s balance sheet came into the rate hike cycle better positioned for higher rates than some other banks. Its consumer-heavy deposit base fueled hopes that less-savvy customers wouldn’t notice rates were rising.
But like others in the industry, Sanders said Wells has “consistently underestimated” the size of increases in its deposit costs. While rising interest expenses have been a bigger pain for regional banks, megabanks such as Wells and JPMorgan Chase have also felt the pinch in recent months.
While Wells stuck to its forecast that net interest income will drop by 7% to 9% this year, the bank also said that it anticipates the metric will land at the higher end of that range.
Even so, Sanders said the stock-price decline on Friday seems “a little bit overdone.” He and other analysts pointed to strong growth in the company’s revamped credit card business and its fee-driving investment banking business — two areas that CEO Charlie Scharf has built up during his nearly five-year tenure.
Piper Sandler analyst Scott Siefers wrote in a note to clients that the initial pressure on the bank’s stock price Friday may fade “as better fees may overwhelm the higher cost guide.”
Overall, the company’s profits rose to $4.9 billion between April and June, up from $4.6 billion in the first quarter. Higher fee revenues and Scharf’s campaign to trim noninterest expenses — the bank’s employee headcount is down 11,000 compared to last year — helped reduce the drag from lower interest income.
The higher interest expenses were partly due to depositors’ “continued migration into higher-yielding alternatives,” Mike Santomassimo, Wells Fargo’s chief financial officer, told reporters Friday. Rather than keeping their cash in low-paying checking accounts, consumers have shifted toward higher-yielding savings accounts or certificates of deposit.
However, the pace of that migration “has slowed and continues to slow,” Santomassimo said. Interest expenses climbed 3.3% during the quarter, compared with a 5.4% increase in the first quarter and a 12% jump in the fourth quarter of 2023.
One driver of the most recent increase: Wells Fargo bumped up the interest it pays on deposits in customers’ wealth and investment management accounts, a change that will cost the bank $350 million this year.
There was one silver lining to the higher rates the San Francisco-based bank paid on deposits. Wells grew deposits “in every line of business for the first time in a long time,” Santomassimo said. The pricing for corporate deposits is competitive and thus adds to interest expense pressures, he noted.
But the deposits are “going to be very valuable over a long period of time, particularly as rates start to come back down,” Santomassimo said.
“Credit performance during the second quarter was consistent with our expectations,” Wells Fargo CEO Charlie Scharf told analysts. “Consumers have benefited from a strong labor market and wage increases. The performance of our consumer auto portfolio continued to improve, reflecting prior credit tightening actions, and we had net recoveries in our home lending portfolio.”
Citi, the smallest of the three depositories in the mortgage arena, originated $4.3 billion in home loans from April to June, up 39% from the previous quarter but down 4% from the same period in 2023.
Amid higher origination levels, JPMorgan also grew its servicing portfolio in the second quarter, which was not true for Wells Fargo. JPMorgan’s mortgage servicing rights (MSRs) increased to $8.8 billion in Q2 2024, up from $8.6 billion in Q1 2024 and $8.2 billion in Q2 2023.
Meanwhile, Wells Fargo’s MSRs — as measured by the carrying value at the end of the period — declined by 3% quarter over quarter to $7 billion in Q2 2024. The unpaid principal balance (UPB) decreased by 14% compared to the same quarter last year.
Generating revenues
Home lending activity brought in $1.3 billion in net revenues for JPMorgan in Q2 2024, up 11% from $1.18 billion in the previous quarter. The bank had $189 million from servicing revenues in Q2 2024, compared to $144 million in the previous quarter.
Jeremy Barnum, JPMorgan’s chief financial officer, told analysts that the performance of home lending revenues was “predominantly driven by higher net interest income.”
Wells Fargo delivered $823 million in revenues related to its home lending business in Q2 2024. The bank said in a statement that home lending was down 3% year over year “on lower net interest income on lower loan balances” and down 5% from the previous quarter “on lower mortgage banking income.”
According to chief financial officer Michael Santomassimo, Wells Fargo’s revenue reduction reflects its focus on simplifying the home lending business and the ongoing decline in the mortgage market. “Since we announced our new strategy at the start of 2023, we have reduced the headcount of home lending by approximately 45%,” he said.
The bank also generated mortgage banking non-interest income of $243 million in Q2 2024, an increase from $230 million in the previous quarter. Its net servicing income declined 2% quarter over quarter but increased 44% year over year to $89 million.
Overall, JPMorgan delivered $18 billion in profits — or $13.1 billion when excluding extraordinary items, such as a multibillion-dollar gain tied to a Visa share exchange — in the second quarter while the economy saw “some progress bringing inflation down,” according to CEO and chairman Jamie Dimon.
“But there are still multiple inflationary forces in front of us: large fiscal deficits, infrastructure needs, restructuring of trade and remilitarization of the world. Therefore, inflation and interest rates may stay higher than the market expects,” Dimon said in a statement.
Wells Fargo reported $4.9 billion in net income in the second quarter, while Citi delivered $3.2 billion during the period. Citi CEO Jane Fraser said the bank has made “an incredible amount of progress in simplification — both strategically and organizationally.”
Despite recent easing, inflation comes in as the top worry for half of American consumers, and it has likely implications for future credit and mortgage borrowing.
Approximately 50% of Americans listed rising prices for daily expenses, including groceries, gas and utilities, as their top financial concern in the next six months, according to the latest quarterly consumer pulse study from Transunion. Meanwhile, 84% ranked it in their top three, the highest mark since the credit reporting and data provider began collecting such data two years ago. The latter share is up five percentage points from one year ago.
Compounding inflation near the top of the list were mortgage costs and interest rates, with 47% and 46% of respondents putting the impact of such costs in their top three.
“Consumers are facing distinct challenges when taking into account today’s high inflation and interest rate environment,” said Charlie Wise, senior vice president and head of global research and consulting at Transunion, in a press release.
“From filling up a tank of gas to making a rental payment to buying groceries, most consumers are paying more today for everyday expenses than they ever have.”
The combined trends of rising prices, housing costs and interest rates may also end up taking a cut out of potential mortgage borrowing. Fourteen percent of likely credit borrowers planned to take out a mortgage in the next year, decreasing from 21% a year ago.
The May Consumer Price Index released on Wednesday could point to some easing on the way, though. Inflation rose 3.3% annually, slowing for the first time in four months. From April to May, the index also showed prices flattening.
For many consumers, any relief will be welcome. Only a 48% share of people in Transunion’s survey said their incomes were keeping up with the rising rate of inflation, but that percentage dropped sharply among the subset of consumers expressing the most concern about price hikes. Just 26% of that group said their wages were able to keep pace with increased costs, while 42% said their finances were worse today than a year ago.
Transunion’s latest research corresponds to other recent consumer polling showing the effects of inflation on the American consumer. Research conducted by Morning Consult for the J. Ronald Terwilliger Center for Housing Policy and National Housing Conference found 23% of Americans struggling to make ends meet, with 30% indicating they were only managing to meet expenses.
The Morning Consult poll also showed one-third of homeowners facing difficulty over the last year in making their mortgage payments. Meanwhile, 49% of renters reported struggling to make rent.
Similarly, insurance firm Nationwide recently said a majority of 64% of consumers viewed their financial situation as only fair or poor, attributing much of that sentiment to housing costs.
Two-thirds of people surveyed by Nationwide also expect housing costs to head higher over the coming year. Meanwhile, 21% said they had tapped into retirement savings or would consider it to help pay for housing-related expenses.
Rising financial worries could be changing consumer behavior toward borrowing and spending beyond mortgages, with 30% intending to refinance or apply for new credit in response, Transunion said. Close to 59% of the group said it would likely be in the form of new credit cards. Among those expressing concerns over inflation, 62% would apply for a new card.
Consumer anxiety might raise warning flags about future borrower performance, with delinquencies increasing
“We have seen over the last couple of years a lot of deterioration in credit performance, and that includes credit cards, personal loans, auto loans,” Wise said in an interview, attributing current delinquency trends to lending trends during the robust pandemic economy of a few years ago.
“Lenders were feeling very good about extending credit now to even riskier borrowers, because their books looked so good. Everybody was spending.”
Although mortgage delinquencies also saw small upticks, performance among borrowers remained relatively strong compared to other credit products, thanks to the amount of equity in their homes, Wise said.
But while consumers acknowledge inflation challenges, Transunion also found a sizable percentage of 55% expressing optimism about their own 12-month financial outlooks, with expectations of rising income countering more pessimistic views on current prices. Approximately 47% said they expected to see income growth in the next year.
Younger generations were more likely to have a positive forecast, with 62% of Generation Z expressing optimism about their finances. By comparison, less than 50% of Generation X and baby boomers held the same view.
The counterintuitive divergence in opinion about current price levels and future financial opportunity may lie in impressions the public has about what expenses should be versus economic realities.
“Their anchor is still set on what prices they think are the right prices from three years ago,” Wise said.
“The situation is getting better, but a lot of consumers don’t see the difference between inflation and prices. They view them as the same.”
I’m now 30 months into my new career, and I’m loving every single day.
As a lifelong learner, I find the nuanced topics of financial planning and investment management to be a limitless sandbox, or perhaps more like an underground cave system. Where’s the bottom?! Nobody knows!
Despite that complexity, my colleagues and I help clients with many common issues that are not the strict domain of experts. These are topics you don’t need CFPs, CPAs, or attorneys to help you with. And that fact – that even experts focus on getting the basics correct – is an important lesson.
Let’s dive into some examples.
Cash Flow Management
Cash flow management is the single biggest financial fundamental that most people overlook. I see examples of this daily, both good and bad.
I’ve seen people earning $600,000 and spending $625,000 yearly. They’re drowning (though usually unaware of it).
I’ve seen people earn $300,000 and spend $200,000, or earn $120,000 and spend $80,000. They are thriving. If you’re saving 20%+, you’re killing it. Great work.
Yes, it is so simple: Spend less than you earn and, ideally, measure it. Despite its simplicity, this idea is the foundation upon which the rest of our finances are built. Cash flow management is a vital part of every financial planning conversation.
Portfolio Complexity
Prospective clients or new clients typically prioritize portfolio reconstruction. I get to see the peculiar, the zany, the intriguing…somebody call P.T. Barnum!
The most common theme, though, is that many outside portfolios have come to me far more complex than they needed to be.
The most frequent complexity is to see 4 or 8 or 15 mutual funds in a single portfolio that are performing the same exact role. Who needs 15 mutual funds that are all 60% stocks, 40% bonds, and actively managed? The answer, of course, is nobody. But why, then? Why do investors get in this situation in the first place?
The reason is what I call “flavor of the month.”
With about 97% accuracy, I can tell these portfolios were built by a financial advisor who was financially incentivized to buy specific funds for their clients. The “mothership” will tell such advisors, “Our NBNHX mutual fund is undercapitalized. If you put your clients in NBNHX this quarter, we’ll double your commission on it.”
That’s a flavor of the month. Not for the client, mind you. But for the advisor. It’s a conflict of interest, for sure, but not all advisors are required to act as fiduciaries. We call on Uncle Charlie to remind us, “Show me the incentives, I’ll show you the outcomes.” Next thing you know, NBBHX has entered the portfolio.
The portfolio fills up with these various flavors of the month until – voila! – you have a Baskin Robbins. But despite the “flavors” having different ticker symbols, they all taste the same. Imagine if Baskin Robbins sold 31 flavors of vanilla! That’s what these portfolios look like. “Could I get a scoop of vanilla, a scoop of French Vanilla, and one of Vanilla Bean? Sprinkles? Never…”
Instead, we should make specific investment choices to answer specific portfolio problems—in layman’s terms, put the “right tools for the jobs” into your portfolio.
Each “job” might require its own specialty “tool.” We each have many tools in our garages and toolboxes. There’s nothing wrong with having multiple funds in a portfolio. But you don’t want or need redundant assets, just like a homeowner doesn’t need nine shovels.
You should be able to point to each fund or asset in your portfolio and describe the unique reason it’s there or the specific portfolio problem the asset is solving.
It’s hard to find a picture that combines “ice cream” and “tools,” so I asked A.I. to help me out. I’ve seen plenty of weird A.I. images at this point, but it’s still disorienting to see such real-looking objects (that ice cream isn’t real?!) juxtaposed with a computer’s misguided interpretations (what kind of dental torture device is that in the lower right? and why do the screwdrivers all have wooden popsicle sticks?).
Too Much Cash
Nobody should complain about 5% risk-free rates. However, cash is not a long-term investing strategy. Risk-free rates cannot, and should not, outperform inflation over the long run. You need to take some risk.
While cash is an important buffer to ensure short-term liquidity and an emergency fund safety net, your long-term assets should be in a risk-bearing, higher-growth asset class.
Stocks and bonds are wonderful.
Further reading: How Much Time Does It Take for Stocks to Outperform Bonds?
Goal Setting
Whether you realize it or not, your financial plan has specific branches and pitstops and end-points. My financial plan does too. But mine are much different than yours.
The reason is because each of those branches and pitstops and end-points are related to specific goals. My goals for my plan, your goals for your plan.
You don’t need a professional’s intervention to ask yourself, “What are our financial goals? What do we want life to look like, and by when, and how much might that particular life cost us?”
Consolidation
A common financial stress I hear rhymes with, “We have money all over the place. Too many accounts, too many statements, we need help!”
There’s not always a financial impact from consolidation (though sometimes it will save you annual or monthly account charges). But a significant mental burden lifts when you go from 24 disparate accounts down to 5.
Scary Stuff
People out there have scary stuff in their financial lives. The more stones I overturn, the more interesting scenarios I find. Some examples include:
Keeping large amounts of credit card debt to “improve our credit scores.” Credit scores don’t work that way.
Saving large sums ($25,000+ per year) while carrying huge credit card debt ($50,000+). Bad priorities. No investment is going to outperform paying down a 25% debt.
Tapping into a 401(k) prematurely (though quite intentionally) without awareness of the extremely stiff penalty. There’s a 10% early withdrawal penalty plus your marginal Federal tax rate (22% to 37% for most of you) plus your marginal state tax rate (6-8% here in NY). For hire earners, it sums to north of 50%. That $50,000 withdrawal? You keep $24,000 of it. The rest goes to the IRS.
Unrealistic spending plans. Both irrationally optimistic and irrationally pessimistic. Two families each want to spend $100,000 a year throughout their retirement. The first family has a $500,000 nest egg, which works out to a 20% withdrawal rate. The 4% rule is squealing. The second family has $15 million, or a 0.67% withdrawal rate. They are crippled with anxiety over running out of money. Neither family is living in reality.
No communication. Family finances are a deeply personal topic. There are many ways to skin the cat. But there aren’t infinite ways to skin a cat. Some methods are plain stupid. It shouldn’t take a meeting with a CFP for one spouse to tell the other spouse they still have $120,000 of student loans. Communication, communication, communication.
Ok, you spelunkers. It’s fun to dive deep into the financial planning cave, where the Social Security salamanders and the Roth conversion crayfish lurk. But the professionals care deeply about the “surface-level” stuff too, and it’s perhaps more important to get those simple ideas right.
Thank you for reading! If you enjoyed this article, join 8000+ subscribers who read my 2-minute weekly email, where I send you links to the smartest financial content I find online every week.
-Jesse
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Known by its initials, KC, Kansas City is known far and wide for more than a few things. From its world-famous barbecue to its pivotal role in the jazz world, the city presents an intriguing mix of old and new.
Whether you’re a sports fan, history buff, or patron of the arts, you’ll find a place to feel at home in Kansas City.
Join us as we check out the museums, stroll the parks, and see the sights that make Kansas City such a special place to visit and such a desirable place to find the perfect apartment.
1. KC BBQ
Kansas City takes its barbecue seriously. Characterized by its slow-smoked meat slathered in a thick, tomato-based sauce, the city’s barbecue joints, ranging from old-school pitmasters to new-age innovators, offer a mouthwatering variety of meats. This food is celebrated annually at the American Royal, a major barbecue competition that attracts pitmasters and foodies throughout the country.
2. American Jazz Museum
Located in the historic 18th and Vine district, the American Jazz Museum pays homage to the city’s legacy in the development of jazz music. Interactive exhibits, visual displays, and rare memorabilia, like Charlie Parker’s saxophone, provide a comprehensive look at the genre’s evolution.
3. The Kansas City Chiefs
The Kansas City Chiefs, the city’s beloved NFL team, play their home games at the Arrowhead Stadium. Known for its electrifying atmosphere and passionate fan base, you can feel the energy throughout the city when the Chiefs have a home game. The franchise has a storied history, including multiple Super Bowl appearances, making game days a major local event.
4. Hallmark Cards HQ
Kansas City is home to the headquarters of Hallmark Cards, Inc., the largest manufacturer of greeting cards in the U.S. Founded in 1910, this family-owned business has grown into a global enterprise, shaping how people celebrate holidays and special occasions.
5. Kauffman Memorial Garden
The Ewing and Muriel Kauffman Memorial Garden is a tranquil oasis in the heart of the city. This beautifully maintained garden features a stunning amount of plants, flowers, and sculptures set amidst winding pathways and serene water features. It serves as a peaceful retreat for those seeking a break from the city’s buzz, as well as a popular location for photography and private events.
6. River Market
River Market is a bustling neighborhood known for its farmers market, one of the largest and longest-running in the Midwest. Every weekend, locals and tourists alike flock to the market to shop for fresh produce, specialty foods, and artisan products. The surrounding district also has plenty of restaurants, shops, and more, making it a popular spot for a casual day out.
7. The National World War I Museum and Memorial
This National World War I Museum and Memorial is dedicated to remembering and understanding the Great War and its enduring impact. With its sizable collection of artifacts, immersive displays, and educational programs, the museum offers insights into one of the most significant conflicts in human history.
8. Union Station
Once a busy rail terminal opened in 1914, Union Station now serves as a multi-purpose hub. This historic landmark houses science exhibits, traveling national exhibits, and features a mixed selection of dining and shopping options. Its grand architecture and busy schedule of events make it a focal point for social activities in the city.
9. The Nelson-Atkins Museum of Art
The Nelson-Atkins Museum of Art is renowned for its comprehensive collection that spans thousands of years and includes everything from ancient artifacts to modern art. Its massive collection of Asian art and the iconic Shuttlecocks installation on its lawn are just two highlights. The museum is a cornerstone of Kansas City’s arts scene.
10. Country Club Plaza
Opened in 1923, Country Club Plaza is recognized as one of the nation’s first shopping centers designed to accommodate shoppers arriving by automobile. This district is famed for its Spanish-inspired architecture and features numerous high-end retail shops, restaurants, and seasonal events. The annual lighting of the Plaza’s buildings during the winter holidays is a cherished local tradition that attracts visitors from across the region.
Lloyds profits fall as competition for mortgages heats up
Pre-tax profits drop to £1.6bn between January and March, down from £2.3bn last year
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Lloyds Banking Group has suffered a 28% drop in first-quarter profits amid tough competition for mortgages and savings, but bosses said they expected those pressures to soon ease, helped by an improving UK economy.
The country’s largest mortgage lender, which also owns the Halifax brand, said pre-tax profits dropped to £1.6bn between January and March, having fallen from £2.3bn last year when rising interest rates boosted the lender’s profits by almost 50%.
The bank’s chief financial officer, William Chalmers, said this reflected “keen pricing in the mortgage markets, and savings moving into higher rate accounts”. Competition and jitters in the mortgage market led to a drop in its total outstanding loan book.
It resulted in a 10% drop in net interest income, which accounts for the difference in loan charges versus what is paid out to savers, to £3.2bn in the three months to March.
Pressure from politicians and regulators to pass on interest rates to savers at the same rate they had been raising mortgage and loan charges has squeezed income for major mortgage providers such as Lloyds in recent months.
In response, banks have had to compete harder for customer deposits by offering more substantial returns, particularly on fixed savings products where consumers lock away cash for longer. It attracted £1.3bn in regular customer deposits but that failed to make up for the £3.5bn pulled by business clients.
However, Chalmers said these savings and mortgage pressures were likely to “ease through 2024”, as economic conditions continued to improve.
House prices, which Lloyds previously expected to fall by 2.2% in 2024, are forecast to rise by 1.5% by the end of the year.
The banking group, often seen as a bellwether for the UK economy, is also forecasting a steady improvement in economic growth, at a rate of 0.3% in most quarters and a drop in inflation to 2.4% – from 3.2% in March – resulting in a fall in interest rates to 4.5% by December. It expects the Bank of England to cut rates three times in 2024, starting in the middle of the year.
Chalmers said mortgage applications had already soared by 20% in the first quarter, which could translate into new home loans, and reverse some of its loan book losses. That partly reflected the group’s willingness to offer better interest rates in order to boost lending.
“We’re really pleased to see the pickup in applications, and development of our market share, in that respect. And I think that represents what is a series of competitive offers out there in the market, suiting our customer needs. We’d hope to maintain that ambition over the course of the year,” Chalmers said.
Overall, the banking boss said he expected the UK mortgage market to pick up by 5% by the end of 2024. “We’d hope to play a major part in it,” Chalmers added.
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The improved economic outlook meant the bank was more confident that customers could repay their loans. Despite the cost of living crisis and higher mortgage repayments, which have weighed on borrowers, Lloyds set aside £57m for potential defaults, compared with £243m last year.
The Lloyds chief executive, Charlie Nunn, said: “The group is continuing to deliver in line with expectations in the first quarter of 2024, with solid net income, cost discipline and strong asset quality. Our performance provides us with further confidence around our strategic ambitions and 2024 and 2026 guidance.”
Investors had also been hoping for updates on the Financial Conduct Authority investigation into whether consumers have been charged inflated prices for car loans. Lloyds, which has the largest car loan division of the four biggest UK banks, has already put aside £450m – far short of the £2bn that analysts believe it could be on the hook for.
However, Lloyds did not give any more details about whether it might put aside more cash to cover potential fines or compensation for customers. The FCA has indicated that it will give more details on its findings by the autumn.
Missouri’s scenic landscapes, from the rolling Ozark Mountains to the expansive plains along the Mississippi River, offer a diverse array of natural beauty. Cities like St. Louis, with its iconic Gateway Arch and vibrant cultural scene, and Kansas City, renowned for its jazz heritage and barbecue, provide distinct living experiences. However, every state faces its challenges. In this ApartmentGuide article, we’ll examine the pros and cons of living in Missouri, helping you gain insight into what awaits you.
Renting in Missouri snapshot
1. Pro: Rich cultural heritage
Missouri’s rich cultural heritage is evident in its diverse array of traditions, music, and cuisine. For example, the vibrant jazz scene in Kansas City harkens back to the city’s heyday as a hub for jazz legends like Charlie Parker and Count Basie. In St. Louis, the historic architecture of neighborhoods like Soulard and The Hill reflect the city’s immigrant past and vibrant cultural identity.
2. Con: Weather extremes in the winter
3. Pro: Affordable cost of living
4. Con: Limited public transportation options
Missouri grapples with limited transportation options, particularly outside major urban centers. Cities like Kirkwood is a great example, with a transit score of 22, meaning almost all errands require a car. Rural areas often lack comprehensive public transportation systems, necessitating reliance on personal vehicles for commuting and travel. This transportation gap can pose challenges for individuals without access to a car, impacting mobility and access to essential services.
5. Pro: Outdoor recreation
Missouri’s natural beauty extends far beyond its famous landmarks, encompassing diverse ecosystems and scenic vistas throughout the state. The Ozark Mountains, with their rugged terrain and lush forests, offer unparalleled opportunities for outdoor adventure, from rock climbing to cave exploring. Meanwhile, the majestic Missouri River winds its way through the landscape, providing idyllic settings for boating, kayaking, and birdwatching along its banks.
6. Con: High humidity
7. Pro: Delicious food
Missouri’s food scene is a blend of traditional barbecue, farm-to-table restaurants, and international cuisine. Kansas City, for example, is renowned for its barbecue, offering a variety of styles and flavors that attract food enthusiasts from all over. These barbecue traditions draw food lovers from all over to savor its mouthwatering ribs, brisket, and burnt ends.
8. Con: High allergy risks
Missouri’s fluctuating climate and diverse landscapes contribute to high allergy risks for residents and visitors. Pollen levels can soar during the spring and fall seasons, triggering allergies for those sensitive to environmental allergens. Additionally, mold spores thrive in the state’s humid conditions, posing further challenges for individuals prone to respiratory issues.
9. Pro: Fall foliage
Missouri’s fall foliage transforms the landscape into a breathtaking mix of stunning hues, painting the scenery with shades of crimson, gold, and amber. Places like the Shaw Nature Reserve and the Katy Trail burst into color, offering picturesque settings for leisurely strolls or scenic drives. Witnessing the stunning spectacle of autumn foliage against the backdrop of Missouri’s rolling hills is a great way to take in Missouri.
10. Con: Natural disasters
Missouri is prone to various natural disasters, including tornadoes, floods, and severe storms, which can pose significant risks to residents and communities. The state’s location in the Tornado Alley puts it at heightened vulnerability to tornado outbreaks, particularly during the spring and summer months.
11. Pro: Central location
Missouri’s central location in the United States offers residents convenient access to neighboring states and major cities in all directions. Whether you’re planning a weekend getaway to Chicago, a road trip to the Rocky Mountains, or a visit to the bustling metropolis of Nashville, Missouri’s strategic position makes travel easy and efficient.
12. Con: Insects and pests
Missouri’s warm and humid climate provides an ideal habitat for a variety of insects and pests, including mosquitoes, ticks, and stink bugs, which can be nuisances for residents, especially during the summer months. The prevalence of these pests can lead to discomfort and pose health risks, such as transmitting diseases like West Nile virus and Lyme disease.
Methodology : The population data is from the United States Census Bureau, walkable cities are from Walk Score, and rental data is from ApartmentGuide.
“The investments we are making across the franchise contributed to higher revenue versus the fourth quarter as an increase in noninterest income more than offset an expected decline in net interest income,” it was explained. Meanwhile, noninterest expenses went up 5% from a year ago due to a mix of higher operational losses, including customer … [Read more…]
Ok reader, this is one of my best eBay secrets, but I’m in a giving mood so strap in for a history lesson. Snoopy—Charlie Brown’s beloved beagle—was a cultural symbol during the Vietnam War. People back home, as well as some servicemen, used him as a WWI fighter pilot to criticize our involvement in Vietnam. (Snoopy fighting the Red Baron was seen as a more just war.) But, some servicemen used him as a symbol of the war effort.
Either way, the result is there are a bunch of Snoopy-engraved Zippo lighters floating around in the world. Some are crude—think Snoopy with a thought bubble that just says “Sex.” Some are sweet—think Snoopy with a thought bubble that has the name of a serviceman’s wife. Some are sad—think Snoopy saying “I wanna go home.” They are all incredibly fucking cool and relatively well priced for vintage ephemera.
Some people think it’s morbid to own one of these, but history is full of contradictions. Scour eBay, ask your grandfather, or go to a local antique market. One of those three will probably have a vintage Snoopy Zippo.