It’s no secret that kids are expensive, but where you raise them can add thousands to your annual budget. The average yearly cost of raising a child across the 100 most-populous U.S. metros is $22,989, but it can vary widely between cities, according to an analysis by Creditnews Research. In San Francisco, the annual cost … Read more
When Warren Buffett shares details of his personal finances, people tend to pull up a chair and take notes. When you’re one of the wealthiest people on Earth, you must be doing something right. While Buffett’s acolytes are chiefly interested in strategies for amassing more money, they recently received a lesson in how to give … Read more
Activists demonstrate in support of a $15-per-hour minimum wage and tips for restaurant workers in Washington, D.C. on Feb. 8, 2022. Mandel Ngan | AFP | Getty Images The federal minimum wage recently marked a new anniversary. But for affected workers, that may not be something to celebrate. The federal minimum wage has now been … Read more
U.S. Vice President Kamala Harris speaks at an event with U.S. President Joe Biden (not pictured) in Prince George’s County, Maryland, U.S., August 15, 2024. Elizabeth Frantz | Reuters Vice President Kamala Harris on Friday unveiled an economic plan, including an expanded child tax credit worth up to $6,000 in total tax relief for families … Read more
The average American does a pretty decent job managing their credit. But if you want to boost your credit score, it’s important to avoid falling for a commonly held myth: Carrying a balance on your credit card each month helps improve your score. “This is not true,” Tommy Lee, FICO’s senior director of analytics and … Read more
People under pressure to save on energy have been promised a radical plan by one city’s leader, who says it will slash power bills. Melbourne Lord Mayor Nick Reece has pledged to establish Australia’s largest community-led bulk purchasing program for renewable energy across Melbourne, if he is re-elected. “Australians are desperate for power savings at … Read more
How sequence risk hurts your portfolio Investors can typically start withdrawing funds from retirement accounts without penalty at age 59½. But there’s a big risk for younger retirees or near-retirees who experience stock market downturns just before or as they start tapping accounts. Withdrawing from your portfolio when the stock market drops could mean selling … Read more
Sakorn Sukkasemsakorn | Istock | Getty Images About 2.9 billion people may have had their personal information hacked, a new proposed class action lawsuit alleges. If true, reports suggest all Americans may have had valuable personal information compromised — including full names, current and past addresses, Social Security numbers and information on parents, siblings and … Read more
Fotostorm | E+ | Getty Images Inflation cooled below 3% in July 2024, the first time it dropped beneath that level in more than three years. While many areas of the U.S. economy are dis-inflating — meaning their prices are still rising, though at a slower rate — some have been outright deflating. That means … Read more
Pascal Broze | Onoky | Getty Images As investors face economic uncertainty, financial advisors have guidelines for how much cash they should have set aside. Despite second-quarter economic growth, nearly 60% of Americans wrongly think the U.S. is currently in a recession, according to a June survey of 2,000 adults from Affirm. While Goldman Sachs … Read more
