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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Real estate agents — whether representing the buyer or the seller — generally earn their income through a percentage of the home’s sale price. Traditionally, sellers have picked up the tab for both their own agent and the buyer’s agent, with total commissions often landing in the 5 percent to…
Inheriting an individual retirement account (IRA) comes with specific tax obligations that can feel overwhelming during an already difficult time. One of the most important requirements to understand is the required minimum distribution (RMD) for an inherited IRA. This determines how much money you must withdraw each year. Unlike traditional…
Key takeaways Insurance companies offer discounts in several categories, such as safe driving, professional affiliation, young driver, vehicle safety and customer loyalty. Adding discounts to your current policy or switching to a carrier with better discounts could help you save on car insurance. Raising your deductible, practicing safe driving and…
Key takeaways You could save interest and free up room in your budget by paying your auto loan off early. There are several ways to pay off your loan — like refinancing, paying biweekly or rounding up your payments to the nearest $100. Confirm your lender doesn’t charge a prepayment…
Key takeaways A standard home insurance policy does not cover all aspects of hurricane damage. Flood insurance covers hurricane-related storm surges and flood damage. Mold damage, however, is not included. You may have a separate, and higher, hurricane insurance deductible. Getting hurricane coverage before the season starts may be the…
Headlined by Hurricanes Beryl, Helene and Milton, AccuWeather estimated that more than $500 billion in immediate total damage and long-term economic losses were sustained over the 2024 hurricane season. Unfortunately, the forecaster is also predicting another year of above-average storm frequency and intensity for coastal residents in 2025. While there’s…
Key takeaways Online banks typically offer savings rates 5-10 times higher than traditional banks, with top accounts paying over 4 percent APY. Online banks charge fewer fees, with many offering completely fee-free checking and savings accounts. Online banking provides 24/7 account access with advanced mobile features, but lacks physical branch…
The 529 college savings plan is one of the best ways to set aside money for your children’s college education. The plan offers a host of features that make it an attractive option for savers, including sizable tax breaks and deductions just for doing something that’s already valuable for a…
Applying discounts to your policy can be one of the most effective ways to save money on your homeowners insurance. Some discounts may not be quite so simple to obtain, installing a new roof, for instance, but others may not require much of you at all. Bankrate’s insurance editorial team…
Key takeaways Large-cap stocks typically have market capitalizations above $10 billion, while small-cap stocks generally fall between $300 million and $2 billion. Small-cap stocks may have more growth potential than large-cap stocks, but large caps are often more profitable and more likely to pay a dividend. Both large- and small-cap…
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