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 A budget is a financial plan that helps you manage your finances, so you know exactly how much you are earning, spending and saving. Having a budget helps you meet financial obligations such as paying your bills, preparing for any unplanned expenses and meeting your savings goals. Budgeting…
Key takeaways 0 percent financing is a good choice if you have excellent credit and can afford the higher short-term payment. A cash rebate makes sense if you want a lower loan amount or a lower price on the car you’re buying. Both options are usually only offered by auto…
Under the One Big Beautiful Act, sweeping reductions to Medicaid and modifications to Affordable Care Act enrollment rules have been enacted. The alterations promise to reshape federal healthcare requirements and change who qualifies for coverage. These shifts could impact millions of Americans, especially those in affordable care markets. Here’s what’s…
Feverpitched/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Lenders often sell mortgages to other companies or investors to free up funds for them to offer more loans. Homeowners cannot prevent their mortgage from being sold, but they do have rights to receive information about the transfer. The trading of…
Your Social Security benefits may be taxable depending on your provisional income. This is calculated by adding your adjusted gross income (AGI), any tax-exempt interest and half of your Social Security benefits. The IRS compares this total to set income limits to decide if 0%, up to 50%, or up…
Mortgage rates are at their lowest levels of the year, with the average cost of a 30-year mortgage retreating to 6.63 percent as of Aug. 6, according to Bankrate’s national survey of lenders. Yet, today’s rates still feel high, especially for the many Americans who long for the days of…
Cash balance plans and 401(k)s are both employer-sponsored retirement options, but they work differently. A cash balance plan is a type of pension that promises a set payout at retirement based on a formula, while a 401(k) depends on how much you contribute and how your investments perform. The choice…
Key takeways More homesellers may incur a capital gains tax on their proceeds, the National Association of REALORS warns, due to the dizzying rise in home equity stakes over the last few years – and no changes to exemption limits. Even with the increase, though, it’s unlikely that more than…
Cris Cantón/Getty Images Nvidia (NVDA) made a huge splash as it skyrocketed in the last couple years to become a trillion-dollar stock. It now sits among tech heavyweights such as Microsoft (MSFT), Apple (AAPL) and Amazon (AMZN) in the list of the world’s largest companies. But who else is primed…
For many taxpayers, the standard deduction makes it unnecessary to itemize. However, this also limits which deductions you can claim, including donations to charity. Recent tax changes have affected claiming and qualifying for charitable deductions if you don’t itemize your return. Knowing the current rules can help you plan your…
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