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: Credit card debt reduces disposable household income Debt delays consumers’ ability to build wealth Credit card debt impacts physical and emotional health High credit card debt can put excessive strain on personal relationships High consumer debt impacts the national economy What is The Economic Cost of High Consumer…
Key takeaways Federally insured online banks usually carry the same FDIC insurance as traditional banks. Because they don’t carry the operating expenses of traditional banks, online banks can offer more competitive APYs and better rewards. Look for online banks with features that protect your data, such as multi-factor authentication, encryption,…
Binance.US offers a wide selection of cryptocurrencies and zero-commission trades on some Bitcoin pairs. Binance, which we use here to refer to the U.S. arm of the exchange, charges reasonable commissions that decline as you trade more, ranking it among the cheaper places to trade. Stack on one of the…
Key takeaways Social Security likely won’t cover all of your expenses in retirement, and the prevalence of pensions is dwindling. This leaves those planning for retirement to piece together how they will create lifetime income for themselves during their golden years. Annuities are the only product that can provide guaranteed…
Key takeaways With mutual funds, investors can buy a diversified portfolio without an investment advisor, which makes a well-constructed portfolio more accessible. There are thousands of mutual funds to choose from, but not all of them will be a good fit. Consider your investing goals and risk tolerance before buying.…
Key takeaways Your auto insurance declarations page summarizes the key aspects of your car insurance policy. It can serve as a quick reference to your policy if you need to know what is covered and your insurance agent isn’t available. A declarations page can also be helpful if you want…
Key takeaways Construction loans are short-term loans that you can use to build a home. Some construction loans can be converted to mortgages after your home is finished. Construction loans typically have tougher qualifying criteria and higher interest rates than conventional mortgages for existing homes. What are construction loans? Construction…
Image & Illustration by Bankrate Key takeaways Applying for a mortgage and closing on a home can involve a mountain of paperwork. Documentation needed typically includes in-depth information about your finances, such as pay stubs, tax returns and bank statements. To avoid delays, it’s important to keep it all organized…
Image by GettyImages; illustration by Bankrate What is life insurance face value? If you’ve ever purchased a policy or researched doing so, you may have heard this term. Simply put, the face value, or face amount, of your policy is the amount of insurance you buy. So, for example, if…
Key takeaways Applying for a credit card triggers a hard pull, which dings your credit score whether you’re approved for the card or not. New credit applications are only 10 percent of your credit score, so a hard pull may only decrease your score by a few points, although the…
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