At a time of sticky inflation and a softening job market, extra money in the bank can serve as a lifeline for many consumers. Yet 8 in 10 Americans did not increase their emergency savings this year, a new Bankrate survey found, leaving them in no better financial position to…
While the top ten largest credit unions still hold significantly less in assets than even the top five largest banks, they have been growing considerably in recent years. Just within the last five years, total assets in federally insured credit unions have risen by approximately 45 percent over the past…
Key Takeaways: Transition Challenges: Veterans face unique financial challenges when transitioning from military to civilian life, including employment hurdles, healthcare costs, and housing instability. Employment and Economic Stability: Despite strong leadership skills, veterans often encounter unemployment or underemployment due to skill mismatches. Support from programs like VETS and the GI…
Key takeaways Most unemployment payment delays happen due to missing information, fraud checks, or system backlogs. You can often fix the issue by verifying your ID, submitting missing documentation, or updating your payment profile. While you wait, contact lenders to negotiate temporary relief and use savings accounts or short-term loans…
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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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Reaching age 65 doesn’t automatically change how the IRS taxes your 401(k) withdrawals. Instead, it taxes distributions from a traditional 401(k) as ordinary income, just like wages or Social Security benefits. Your tax rate depends on your total taxable income and filing status in the…
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The Downsides of Credit Card Churning and Why It Is Risky You may be asking yourself, “Those benefits sound great, why is credit…
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The fundamental flaws in the way the Federal Reserve operates these days were on full display Wednesday when Jerome Powell talked to the…
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Key takeaways To get the best mortgage rate, boost your credit score, lower your debt and save up a sizable down payment. Getting the best mortgage rate can save you thousands of dollars in interest over the life of the loan. Shop around for the best mortgage rate with at…
Key takeaways An add-on CD allows you to deposit additional funds after your initial deposit, unlike traditional CDs that only permit one deposit. You can continuously add money to your account throughout the CD’s term while earning the same fixed rate on all your deposits. Add-on CDs typically offer APYs…
Key takeaways When a CD matures, you have 5-14 days (grace period) to decide your next move without penalties. Banks automatically renew CDs at current rates, which may not be competitive for existing customers. Your main options include renewing, shopping for better rates, exploring other savings accounts, investing elsewhere or…
Thinking about picking up some kind of extra work to make some extra cash? You’re not alone. Bankrate’s most recent Side Hustle Survey shows that 27 percent of American adults have some kind of work in addition to their full-time occupation. There are plenty of reasons to try to boost…
Roth IRAs can be appealing because they allow tax-free withdrawals and have no required minimum distributions (RMDs). For younger savers, paying taxes now for tax-free growth later can be a smart move. But, if you are near retirement, this strategy can be more complicated. Balances are typically larger, the time…
The safe withdrawal rate (SWR) method is a spending strategy that allows retirees to draw down their portfolios during retirement while minimizing the risk of running out of money. While the method isn’t perfect, the safe withdrawal rate gives retirees a guideline for their spending. Maintaining a portfolio based on…
Like a bar that wants to close at 2 a.m., the Education Department is urging student loan borrowers to switch from SAVE — the most generous of the income-driven repayment plans for federal student loans. Yes, ending SAVE’s interest-free forbearance is tantamount to last call. Except in this case, borrowers…
Rick Gershon/Getty Images Key takeaways The Southwest Companion Pass lets you designate a companion who can fly with you for free (minus taxes and fees) on any Southwest flight you book with cash or points for up to two years. You can score a Companion Pass by earning 135,000 qualifying…
Image by Getty Images; Illustration by Bankrate Key takeaways SBA lenders aren’t required to take collateral for most SBA loans under $50,000. SBA lenders will use their existing loan collateral policies to determine how much collateral you need to put up. The SBA requires a personal guarantee for any owners…
Key takeaways Full coverage car insurance coverage typically refers to a policy that includes state-mandated coverage types, plus comprehensive and collision insurance. Your state will not require you to have comprehensive auto insurance coverage, but your lender may. Comprehensive auto insurance is add-on coverage that provides financial protection for your…
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