With winter in full swing, many households are bracing not just for freezing temperatures but also for the “financial freeze” the season brings. Winter introduces a unique set of seasonal expenses that can significantly drain savings or catch you off guard. By understanding these hidden costs and effectively winterizing your…
A 16th birthday is a major milestone. There’s the driver’s license, the newfound freedom, the open road. Then, for most families, comes the insurance bill. “It was exhausting,” said S. Bowers, an Ilinois-based project manager mom who recently shopped for car insurance for her 17-year-old son. “I got several quotes,…
Pekic/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways A mortgage lets you purchase a property, while a home equity loan — which is a type of second mortgage — allows you to tap the value of your property to get cash. Compared to other forms of credit, both mortgages and home…
Key takeaways The value of the child tax credit in 2025 (for tax returns filed in 2026) is $2,200, up from $2,000 in 2024. Going forward, the value of the child tax credit will be adjusted for inflation each year. There are income limits: The child tax credit starts to…
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The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
Historically Black colleges and universities are on the frontlines of the One Big Beautiful Bill Act’s new limits on parent…
The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
With artificial intelligence beginning to eat away at many white-collar entry-level jobs, and the unemployment rate for recent college graduates…
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Key takeaways Investing in an S&P 500 index fund is an easy way to get instant exposure to hundreds of the largest companies in the U.S. in one investment vehicle. All S&P 500 funds are fundamentally invested in the same stocks, so choosing the “cheapest”…
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Delmaine Donson/Getty Images Debt relief companies work on your behalf to negotiate your debts, usually through a settlement for less than you owe.…
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These entrepreneurs, traders and investors are making an outsized impact in fintech, crypto and traditional financial services.By Jeff Kauflin, Hank Tucker and Nina…
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In her half-century on earth, Torry Holmesly has been subjected to neglect, violence, eviction and homelessness. So, if you ask her about what life is like in a banking desert, forgive her for looking at you funny. And yet, Holmesly, 50, is far from a fool. She knows that not…
Dmitrii Marchenko/GettyImages Key takeaways With a Roth IRA, you contribute money without getting an up-front tax break (unlike a traditional IRA, which offers a tax deduction in the year you contribute). The tax break comes later: You can withdraw your money tax-free in retirement. Ideally, you keep your money in…
Vladimir Vladimirov/Getty Images: Illustration by Issiah Davis/Bankrate Key takeaways Under the Equal Credit Opportunity Act, lenders are prohibited from discriminating against applicants because of their age. As a result, older people — like those in other age groups — generally can get mortgages and other home loans if they meet…
I’m a big fan of getting money back from purchases I would have made anyway. I rarely carry cash, use a debit card or write a check. Instead, I used three credit cards for most of my purchases in 2025, and when all was said and done, I earned close…
Images by Getty Images; Illustration by Issiah Davis/Bankrate The average savings account rate is a benchmark for the overall interest-rate environment, but it’s not a rate you should settle for. Rather, aim for an annual percentage yield (APY) many times the national average, such as those offered by high-yield savings…
Reaching your 80s doesn’t automatically mean saying goodbye to income taxes. Many retirees live on fixed incomes and may owe little or nothing to the IRS. However, others with pensions, investment income or retirement withdrawals may still face tax obligations. The key to understanding your tax situation in your later…
MoMo Productions/Getty Images Key takeaways FHA loans are insured by the Federal Housing Administration and may have more lenient qualifications than conventional loans. FHA loan limits vary by location, but in 2026, they’re generally between $541,287 and $1,249,125 for single-family homes. You can find FHA loan limits for your area…
The IRS generally treats unemployment compensation as taxable income. If you don’t plan for this, or don’t withhold money from your weekly payments, you may owe money when you file your tax return. State tax rules vary, too, which can further impact your final tax bill. Knowing how to report…
How Roth IRA gains are taxed depends on when and why you withdraw the money. You can typically withdraw growth inside a Roth IRA completely tax-free if you meet certain IRS rules. However, early withdrawals or non-qualified distributions may trigger income tax and even penalties. It can be extremely beneficial…
Key takeaways Start by identifying your primary banking needs: checking, savings, CDs or specialized services. Avoid banks with excessive fees — average overdraft fees are $26.77, but many banks offer fee-free options. Consider traditional banks, online banks and credit unions, keeping in mind that the latter two may provide better…
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