Marlon and his dog, George. Courtesy: Since 1988, Marlon Fox has been paying down his federal student debt. He didn’t see an end in sight. Then, on Aug. 25, 2023, an email popped up in his inbox with the subject line: “Your student loans have been forgiven!” His $119,500 balance was reset to zero. “I … Read more
Credit cards are an Achilles’ heel for many people. Collectively, Americans now owe $1.13 trillion on their cards, and the average balance per consumer is up to $6,360, both historic highs. Not only are more cardholders carrying debt from month to month but more are increasingly falling behind on payments, recent reports show. “Even though dealing with $1 … Read more
Anna Bizon | Gallo Images Roots Rf Collection | Getty Images President Joe Biden took to social media ahead of the Super Bowl on Sunday to take a jab at snack companies that are giving consumers less food for their money. The phenomenon called shrinkflation — where consumer products become smaller in quantity, size or … Read more
When Amber Steeves started working at Verizon almost 15 years ago, she did one of the best things you can do when you start a new job. She enrolled in the company’s 401(k) program to begin saving for retirement. “I was never financially stable, and that was a goal,” she tells CNBC Make It. “OK, … Read more
Catherine Falls Commercial | Moment | Getty Images If you’ve noticed the cost of your car insurance policy has gone up, you’re not alone. Inflation takes some of the blame, but your credit score may have a role as well. The national average cost for full-coverage car insurance has gone up to $2,543 per year, … Read more
Skynesher | E+ | Getty Images New government data shows a surprisingly strong job market for the month of January. But there are signs of weakness in the labor market, based on tens of thousands of workers who have been laid off since 2024 started. U.S. employers announced 82,307 job cuts in January, up from … Read more
By many measures, Generation Z is doing well. Compared with their parents at this age, young adults are more likely to have a college degree and work full time — particularly women, who are not only achieving increasing levels of education but also earning more. However, Gen Z adults are also less likely to own a … Read more
Ascentxmedia | E+ | Getty Images High inflation has prompted even well-to-do Americans to rethink their spending habits. But one group — affluent millennials — are more likely to lie or exaggerate their finances to appear financially successful, according to a recent survey from Wells Fargo. That goes for 34% of affluent millennials versus just … Read more
Brand X Pictures | Stockbyte | Getty Images When faced with an unexpected $1,000 expense, more than one-third of Americans would borrow the money, according to a new Bankrate survey. That may include tapping their credit cards, seeking money from friends or family or taking out a personal loan. Most would not turn to cash … Read more
D3sign | Moment | Getty Images On-ramp period should protect your credit Generally, failing to make timely payments on debts, including your student loans, can damage your credit. Payment history accounts for 35% of your score, according to FICO. Typically, “missing just one payment can cause your credit score to drop by 50 to 100 … Read more
