Catherine Mcqueen | Moment | Getty Images After years of higher yields on cash, the Federal Reserve’s shifting policy means lower future returns on savings, certificates of deposit and money market funds. Despite falling rates, investors should still keep emergency funds “liquid,” meaning the cash can be easily tapped, financial experts say. Advisors typically suggest … Read more
U.S. home buyers are gaining tens of thousands in purchasing power as mortgage rates drop. With 30-year fixed mortgage rates declining from 7.79% in October 2023 to 6.2% last week, home buyers in the 100 largest U.S. cities have gained a median of $70,000 in additional buying power for the same $2,100 monthly payment, according … Read more
Woman at home looking at the bills and taxes. Hirurg | E+ | Getty Images The tax extension deadline is Oct. 15, but you have options if you still can’t pay your balance, experts say. This year, the federal tax deadline was April 15. Those struggling to meet that due date could submit Form 4868 … Read more
Many people struggle to keep on top of their personal finances, but one trend in particular could leave Australians “poorer” as they head towards old age. Research has shown almost half of Australians have never sought advice about retirement, according to the Association of Superannuation Funds of Australia (ASFA), with the trend “worrying” experts. WATCH … Read more
Courtesy: Wojciechowski Family Real estate is a key puzzle piece in achieving the U.S.’ climate goals, according to federal officials. Residential and commercial buildings account for 31% of the nation’s greenhouse gas emissions, after accounting for “indirect” emissions like electricity use, according to the Environmental Protection Agency. That’s more than other economic sectors like transportation … Read more
Are you someone who uses Buy Now Pay Later (BNPL) services more than you should? With the industry largely unregulated, it can be almost too easy to rack up debt. Two in five Australians have used one in the six months to August, with the most frequent adopters being Gen Z (59 per cent) and … Read more
The U.S. has experienced an unprecedented wealth boom. Yet, few Americans — including millionaires— feel confident about their financial standing. Only 12% of Americans consider themselves wealthy, according to a new report by Edelman Financial Engines. Despite their high net worth, just 33% of millionaires said the same, the report found. Edelman Financial Engines polled more than … Read more
The Federal Reserve slashed interest rates by a half percentage point, or 50 basis points, on Wednesday, its first rate cut since March 2020. Even before the Fed rate cut, some homeowners had already taken advantage of recent declines in mortgage rates to refinance. Refinance activity increased to 46.7% of total applications during the week … Read more
Westend61 | Westend61 | Getty Images Some young people are splashing out on luxuries like travel and designer clothes instead of saving, in a trend that’s being characterized as “doom spending” on social media. Doom spending is when a person mindlessly shops to self-soothe because they feel pessimistic about the economy and their future, according … Read more
Couples must now both earn six-figure salaries to afford a home in the majority of Sydney areas, new data from Canstar has revealed. The average Australian salary is just over $100,000, according to data from the Australian Bureau of Statistics (ABS). Sydney’s eastern suburbs have a median house price of almost $4,000,000, while the north … Read more
