Personal finance

Xinhua News Agency | Xinhua News Agency | Getty Images The Biden administration plans to announce another extension to the payment pause for federal student loan borrowers, sources tell CNBC. The pause is likely to last through August. This would be the sixth extension of the break, which has now spanned two presidencies. Currently, the

Edwin Lopez sorts the money in the cash register at Frankie’s Pizza on January 12, 2022 in Miami, Florida. Joe Raedle | Getty Images As inflation continues to weigh on American households, people are plotting what they’ll cut from their budgets in the coming months to keep spending in check. More than 50% of adults

Going to the grocery store is only going to get more expensive. Food prices rose 1% while food at home jumped 1.4%, making them the fastest monthly gains since April 2020, according to the latest Consumer Price Index figures. And food price inflation likely will only intensify in the months ahead. In 2022, “all food prices

VALERIE MACON | AFP | Getty Images Social Security beneficiaries soon will have one more way to seek assistance from the government agency as local offices are slated to reopen this week. Starting Thursday, April 7, the Social Security Administration will restore in-person services, including for people who do not have appointments, acting Social Security

Westend61 Many Americans eagerly look forward to a time when they can stop working and officially set their status to “retired.” But when asked what age they anticipate that could be, there isn’t a consensus. The average age when people say they hope to retire is 62, according to one survey. That is also the

Miguel Cardona, U.S. Education Secretary, at the Queen Theatre on Dec. 23, 2020 in Wilmington, Delaware. Joshua Roberts | Getty Images News | Getty Images More than 100,000 borrowers will receive student debt forgiveness thanks to policy fixes made to the public service loan forgiveness program. The relief amounts to more than $6 billion, according

Morsa Images | Digitalvision | Getty Images To achieve financial success, knowledge is key. Yet many Americans lack financial literacy. That can impact everything from the amount of money saved to debt owed. The situation is dire for more than a few. More than half of Americans can’t cover a $1,000 emergency expense with savings,

Filling up at the pump comes with a hefty dose of sticker shock. Russia’s invasion of Ukraine and global supply concerns have sent gas prices to record highs — hitting $6 in some parts of the country. To combat the spike in energy costs, the White House said it will release 1 million barrels of

No-mad | Istock | Getty Images The four-day workweek just became a reality for dozens of companies across the U.S. and Canada, at least for the next several months. The pilot program, being led by 4 Day Week Global, kicked off on Friday and is expected to last six months. Participating organizations include crowdfunding platform

Tetra Images | Getty Images The IRS has issued nearly 58 million refunds, which are worth almost $189 billion in total, as of March 25, the agency reported Friday. Tax refunds are a critical part of many family budgets, and some 46% of Americans plan to save their payments, according to a LendingTree survey, up

A job seeker receives information from a recruiter during a job fair in Miami on Dec. 16, 2021. Eva Marie Uzcategui/Bloomberg via Getty Images The ranks of the long-term unemployed fell again in March, edging closer to pre-pandemic levels as the job market offers ample opportunity for workers. Long-term unemployment is a period of joblessness

Prasit photo | Moment | Getty Images Many Millennials and Gen Zers who invested in the stock market over the last year wish they had done things differently. Some 57% of Gen Z investors and 50% of millennials regret how they invested in the last 12 months, outpacing their Gen X and baby boomer counterparts,

Josh Gottheimer, D-N.J., talks to reporters in Washington, Nov. 4, 2021. Elizabeth Frantz | Reuters President Joe Biden has proposed a new tax on the ultra-wealthy as part of his 2023 federal budget, aiming to reduce the deficit by about $360 billion. Some experts say it’s unlikely to gain traction in Congress. The “billionaire minimum income tax” calls

Antonio_diaz | Istock | Getty Images Women under 30 outearn their male counterparts in 16 metropolitan areas around the country, a new Pew Research Center analysis found. In addition, they are at pay parity in six metro areas. To be sure, their pay still lags men’s in 228 locations. Yet, the news is encouraging, said

The Good Brigade | Digitalvision | Getty Images The IRS says it is no longer deploying $1,400 stimulus checks and plus-up payments that were due to qualifying Americans in 2021. However, there may still be people eligible for those checks, or additional funds, once they file their returns this tax season. A Treasury Department report

Fatcamera | E+ | Getty Images Sometimes, new retirees who sign up for Medicare may find themselves paying extra monthly charges for premiums. Yet for those whose income drops at retirement, it may be possible to change that. Roughly 7% of Medicare’s 63.3 million beneficiaries with income above a set threshold pay “income-related monthly adjustment

Lightspeedshutter | Istock | Getty Images There are a number of reasons to believe that the Biden administration will extend the payment pause for student loan borrowers beyond the current expiration date in May. The White House has already hinted it might do so, and student loan servicers have been told to hold off on

In this article INTU Kimberly White | Getty Images Entertainment | Getty Images The Federal Trade Commission sued Intuit in federal court on Monday, claiming it has deceived customers for years by marketing its TurboTax software as free and then charging most users when they file their income taxes. Around 56 million people filed their

Oliver Rossi | Stone | Getty Images When it comes to money, couples face a big question: Combine finances, keep them separate or do a combination of both? Now, research finds that those who do pool their money are more likely to stay together. The study, titled “Pooling finances and relationship satisfaction,” found that whether

US President Joe Biden delivers a speech at the Royal Castle in Warsaw, Poland on March 26, 2022. Brendan Smialowski | AFP | Getty Images Nowhere in President Joe Biden’s more than 100-page budget for 2023 is any mention of student loan forgiveness or the payment pause for borrowers, continuing the uncertainty millions of Americans