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 Unsavory financial advisors may cheat their clients through deceptive practices such as Ponzi schemes, churning techniques, and pump-and-dump scams. Advisors who pressure you to make quick investment decisions or promise guaranteed returns could be bad actors that you should avoid. Checking an advisor’s qualifications can help protect you…
There are over 36 million small businesses in the United States, accounting for 46 percent of private sector jobs, according to the most recent data from the SBA’s Office of Advocacy. Between March of 2023 and March of 2024, individuals have opened 1.1 million new firms, contributing 1.2 million new…
Exchange-traded funds (ETFs) are one of the most popular ways to invest in the stock and bond markets — and for plenty of good reasons. These funds let investors buy a diversified collection of securities, with the potential to earn strong returns while enjoying low management fees. So it’s little…
Consumer debt is a growing concern affecting millions of individuals across the globe. Did you know the average consumer debt for Americans is around $105,000? (Source: Experian)It can stem from a variety of factors, ranging from unexpected emergencies like medical bills to lifestyle choices. Understanding the causes of consumer debt…
Key takeaways Depending on age, the average 401(k) account balance ranges between roughly $7,000 and $300,000, but median balances are much lower. Retirement investors should have at least one year’s worth of their salary saved by age 30, three times’ worth by 40 and ten times’ worth by 67, according…
Key takeaways New car replacement covers the cost of a brand new car of the same make, model and year if yours is totaled, rather than paying the claim out at actual cash value (ACV) after depreciation. This optional coverage can only be purchased for vehicles under a couple of…
Delahaye/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Down payment assistance (DPA) programs provide eligible homebuyers with loans or grants to help cover down payment and closing costs. These programs are typically reserved for first-time homebuyers or buyers with low to moderate incomes for their area. Many down payment…
As a certified student loan counselor, I’ve frequently heard borrowers complain about receiving confusing, even conflicting advice. And that’s when they can reach anyone at all — many federal loan borrowers struggle to get a human on the phone when trying to contact their assigned loan servicer. Given these struggles,…
Key takeaways In 2025, employees can elect to defer $23,500 of their salary to fund their 401(k). When including employer matches and after-tax contributions, you may be able to set aside up to $70,000 in total. Workers aged 50 and older can make catch-up contributions on top of the normal…
Key takeaways Damage from mine subsidence isn’t normally covered through standard homeowners insurance. There are two main types of mine subsidence — pit and sag — that are classified based on the shape and depth of the depression in the ground. Mine subsidence coverage may be a beneficial addition to…
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