Personal finance

In this article FIS Follow your favorite stocksCREATE FREE ACCOUNT Fluxfactory | E+ | Getty Images In a year marked by stiff economic headwinds, retirement savers paid the price. Although the average 401(k) balance rose in the fourth quarter of last year, balances ended 2022 down 23% from a year earlier to $103,900, according to

MStudioImages | E+ | Getty Images If you’re looking for a relatively safe place for cash, Treasury bills have recently become more attractive, experts say. Backed by the U.S. government, Treasury bills, or T-bills, have terms ranging from four weeks up to 52 weeks, and investors receive interest when the asset matures. Over the past

Credit card providers are benefitting from post-pandemic travel and increasing card usage in general, with balances way up in recent months. Valentinrussanov | E+ | Getty Images Financial stocks were so out of favor for most of 2022 that perhaps their tickers should have been appended with a Nathaniel Hawthorne-esque “U” — for “unloved.” Yet

Citing inflationary pressures and sinking enrollment, more colleges are set to close in 2023. Already, Presentation College in Aberdeen, South Dakota; Cazenovia College in Cazenovia, New York; Holy Names University in Oakland, California; and Living Arts College in Raleigh, North Carolina, announced they will shut down after the current academic year. The consequences of fewer students and less

Pixelfit | E+ | Getty Images Falling behind on federal student loans is likely to trigger other major financial consequences for borrowers, according to new research by The Pew Charitable Trusts. More than 80% of borrowers who experienced default stated that they’d faced at least one additional consequence as a result. The most common impact

Many Americans are feeling increasingly cash-strapped. An extra paycheck next month could help. If you are a W-2 employee and get paid biweekly, there are two months out of the year when you will receive three paychecks instead of the usual two. Depending on your pay schedule, your first three-paycheck month in 2023 could be

Skynesher | E+ | Getty Images The pandemic-relief policy suspending federal student loan payments has now been extended eight times and spanned nearly three years. When will the payments actually resume? It’s still uncertain. Experts say the Supreme Court hearings on Feb. 28 over President Joe Biden’s student loan forgiveness plan will solidify the timeline.

Urbazon | E+ | Getty Images Democratic lawmakers in Washington are renewing a proposal to give every American child $1,000 at birth. The “baby bond” funds, called American Opportunity Accounts, would then be topped off with up to $2,000 per year, depending on a family’s income. The accounts would be federally insured and managed by

dowell | Moment | Getty Images If you’re looking for ways to trim your yearly tax bill, experts may check your portfolio, since some assets are more likely to trigger taxes in certain accounts. Your 401(k) account offers tax-deferred growth, meaning you won’t owe levies on yearly income, such as dividends and capital gains. By

Westend61 | Westend61 | Getty Images Eager to take advantage of Presidents’ Day sales, many shoppers may not realize how much holiday discounts on a range of items – from mattresses to home appliances and electronics to new cars – could really cost them. “Consumers should look closely at the fine print and long-term financial

SDI Productions Despite the cooling market, many homeowners made money selling their property in 2022 — and part of that windfall may be taxable. Home sellers made a $112,000 profit on the typical sale in 2022, a 21% increase from 2021, and a 78% jump from two years ago, according to ATTOM, a nationwide property

In this article LNC CVNA AUTO-GB CARS Follow your favorite stocksCREATE FREE ACCOUNT Craig Stowell loves what he does for a living. He gets to follow his passion and go car shopping as a profession. Stowell owns Flying Wheels, a car dealership in Danville, New Hampshire. The business, which is valued at an estimated $3

A gas station in Arlington, Virginia. Xinhua News Agency | Xinhua News Agency | Getty Images New government data for January shows high inflation has continued into the new year. That has some economists worried high prices may prove to be sticky, even as the Federal Reserve works to slow inflation by raising interest rates.

Olezzo | iStock | Getty Images There’s no question 2022 was a rough year for investors. With record-high inflation, economic uncertainty and aggressive interest rate hikes from the Federal Reserve to combat rising prices, stocks took a beating. All three of the major indexes had their worst year since 2008: The S&P 500 Index dropped

A shopper browses meat department at a Los Angeles supermarket on Feb. 13, 2023 in Los Angeles. Mario Tama | Getty Images News | Getty Images A recent Morning Consult survey recently found almost half of adults — 46% — think the U.S. is already in a recession. Such a downturn — traditionally defined as

Inflation is still taking a hefty toll on households, recent reports show. Prices continued their upward momentum in January, rising 0.5% for the month and 6.4% over the past 12 months, according to the latest consumer price index data released by the U.S. Bureau of Labor Statistics. To make ends meet, 27% of Americans said they’ve had to

Dobrila Vignjevic | E+ | Getty Images Health care in retirement can come with a hefty price tag. A new study looks at how much money a 65-year-old — who’s at the age of Medicare eligibility — would need to have set aside to secure a 50%, 75% or 90% chance of covering their health-care

Daniel Swan, 26, started as an apprentice and now works full time as an HVAC technician in California. Courtesy: Lee’s Air For Daniel Swan, a 26-year-old father of two, it was simply a means to a well-paying job during an uncertain time. Armed with a technical degree, Swan joined an apprenticeship program with Lee’s Air

Pablo Rasero | Istock | Getty Images While those with federal student loans wait to see if the Biden administration’s sweeping loan forgiveness plan survives two Supreme Court challenges, another big change is also on the horizon for borrowers. The U.S. Department of Education is working to create a new repayment option for the tens

Talking about money with your romantic partner or spouse can be tough — especially when you don’t understand or know much about how they think about money. A new survey finds that 64% of couples admit to being “financially incompatible” with their partners, with different philosophies about spending, saving, and investing their money. Unfortunately, this