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 Net worth is a measure of wealth that is calculated by subtracting your liabilities from your assets. Assets might include things such as real estate, stocks or retirement accounts, while liabilities would include your mortgage, any credit card debt and student loans. Net worth is a useful tool…
Just seven months after graduating from business school, I made the final payment on my $72,000 student loan balance. It wasn’t easy — it took extra hustle, long days and sacrifice — but I wouldn’t trade it for the world. I thought our journey to debt payoff would be done…
Key takeaways Using a combination of Chase credit cards can allow you to maximize your credit card rewards earning and redemption options by taking advantage of different bonus categories and card offers. One of the most popular ways to do this is with the “Chase trifecta,” a combination of three…
Drs Producoes / Getty Images Key takeaways The American Express Pay It and Plan It features offer alternative payment options for eligible cardholders. Pay It can be used for small purchases under $100, while Plan It can be utilized for single or combined purchases over $100 with a fixed monthly…
Key takeaways Credit bureaus collect and maintain records on your credit accounts, balances and the payments you make. The three major credit bureaus are Equifax, Experian and TransUnion. Each credit bureau operates independently. They may have different credit information for each consumer and assign them different credit scores. The information…
Key takeaways Top high-yield savings accounts continue to offer returns above 4 percent APY, though the outlook could shift if the Federal Reserve begins cutting rates later this year. Competitive accounts still feature minimal fees and low balance requirements, making them accessible to a wide range of savers. In addition…
Key takeaways Variable annuities can provide steady income later on in retirement with the money growing tax-deferred. The returns on variable annuities depend on the market performance of the underlying investments. Variable annuities are complex and come with substantial drawbacks, such as high fees and limited liquidity. A variable annuity…
The Big Beautiful Bill Act (BBB) will reshape how Americans repay student loans, but the Trump Administration’s landmark legislation is also expected to affect how we pay for nontraditional higher education. The BBB’s new version of the Pell Grant, dubbed the “Workforce Pell Grant,” will be available July 1, 2026.…
Key takeaways Since lenders require you to repay a personal loan, they are considered debt and not taxable income. If a lender forgives some or all of your loan, you may have to pay taxes on the forgiven amount. The IRS allows taxpayers to deduct interest on personal loan funds…
Image by GettyImages; Illustration by Bankrate Key takeaways Pay-for-delete letters are one possible solution to resolving blemishes on your credit report. You will need to verify that the debt is yours, that the balance is current and correct, and which company or collection agency you owe. After confirming the details…
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