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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Private insurance companies typically review and update risk ratings for home and auto policyholders at least annually. When the Federal Emergency Management Agency (FEMA) implemented its first change to flood insurance risk rating in over half a century, it sparked a controversy. The new system for setting rates for properties…
An Employee Stock Ownership Plan (ESOP) gives employees an ownership stake in the company. It does this at no direct cost by allocating shares of company stock to their retirement accounts. In contrast, a 401(k) allows employees to save and invest a portion of their paycheck. These plans often offer…
Key takeaways Personal loans give you a predictable payment and can be funded quickly. They can help your credit score if used instead of credit cards. May keep you from depleting savings accounts or altering long-term savings goals. Average personal loan rates are more than 7 percentage points lower than…
Key takeaways A 5/1 ARM loan provides an initial fixed-rate period of five years, after which the interest rate adjusts yearly depending on current market rates. ARM loans have rate caps, a ceiling for how high your interest rate can go once the introductory fixed-rate period ends. A 5/1 ARM…
Image by Getty Images; Illustration by Bankrate Key takeaways Companies needing quick cash to cover an expense or take advantage of an opportunity should consider fast business loans. Fast business loans can be approved in as little as 24 hours. Fast business loans may not have the best terms and…
hobo_018/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways The mortgagor is the person or entity who borrows and pays back a mortgage loan. If you’re getting a mortgage to buy a home, you’re the mortgagor. The mortgagee is the lender, such as a bank or credit union. This is the entity…
Key takeaways A customized budget template helps you make better business decisions. You can use free spreadsheet tools or paid accounting software to create your template. Budgets allow you to track monthly, quarterly, and annual changes to your income and expenses. Make sure you regularly review this document so it’s…
Key takeaways Pet insurance has three plan types: accident-only, accident and illness, and wellness and preventive care. Deductibles are upfront costs, while reimbursement rates determine how much the insurance pays back. Owners usually must submit claims to be reimbursed for covered vet expenses. Understanding the claims process and how pet…
As a certified student loan counselor, I’m often asked if there are any quick fixes or secret hacks to getting rid of education debt overnight. (Spoiler alert: There’s not.) There are, however, ways of “working the system” in a perfectly legal fashion. So, when I sought to catalog legitimate loan…
Key takeaways Fast business loans offer rapid funding, often in one to three business days. Business lines of credit, business credit cards and merchant cash advances can be considered types of fast business loans. Having a high credit score, a solid revenue stream and being an established borrower with your…
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