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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Collision insurance is an optional coverage that helps pay for repairs to your vehicle when you are to blame for a car accident or other damage-causing incident, like hitting a tree or mailbox. Even the safest drivers can lose focus or react poorly when a split-second decision must be made,…
If a car is declared a total loss by an insurance company, that doesn’t mean it’s automatically destined for the scrapyard. While totaled cars are marked as destroyed with a salvage title, that salvage title can be converted to a rebuilt title if somebody repairs the totaled vehicle to make…
Key takeaways To get a lower mortgage payment, you’ll likely need to focus on modifying the principal, interest, taxes or insurance you pay. You might choose to refinance or recast your mortgage to make the monthly mortgage payments more affordable. Addressing your property tax bill or eliminating PMI are other…
Key Takeaways The Discover it® Miles is a terrific starter travel rewards credit card if you don’t want to spend much time tracking spending categories or redemption values. Unlike most other travel rewards credit cards, the Discover it® Miles offers a flat-rate rewards structure instead of boosted category rewards and…
Hero Images Inc/Getty Images Key takeaways Cash management accounts often combine savings and checking account features, while money market funds offer ultra low-risk returns. You open a cash management account and use it like a checking or savings account. You buy shares in a money market fund. Look at each…
The American Express Cash Magnet® Card* is no longer taking new applicants as of September 2024, although existing cardholders can still use the card. Those interested in the American Express Cash Magnet® Card can check out the Blue Cash Everyday® Card from American Express instead. Key takeaways While a 2…
The pandemic ushered in one of the most unbalanced housing markets in recent memory: Sellers called all the shots, and buyers made all the concessions. Now, for the first time in years, homebuyers have regained some leverage — and, in some places, especially formerly hot markets like Texas and Florida,…
Akirastock/Getty Images: Illustration by Issiah Davis/Bankrate For those looking to open a new checking or one of the best high-yield savings accounts, you’ll find that some banks are currently providing an additional financial incentive for giving your funds a new home — as much as an extra $3,000 for a…
Waiting until age 70 to retire can offer you some clear financial advantages, including maximum Social Security payments and more time for your investments to grow. But even with those benefits and a half-million-dollar nest egg, determining whether you have enough to retire at age 70 will depend on your…
Someone must draw the short straw. And in the case of the One Big, Beautiful Bill’s student-loan-related provisions, that someone appears to be the parents of lower- and middle-income families. The Trump Administration’s massive budget reconciliation bill — law of the land as of July 4 — will reshape how…
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