Hinterhaus Productions | Digitalvision | Getty Images Savings accounts Higher rates mean that consumers have to pay more to service their debt, but it also means that banks pay higher rewards to savers. It’s one of the silver linings to the current rate environment, said Ted Rossman, chief credit card analyst at Bankrate. “There’s also … Read more
A person plays lottery at a 7-eleven store as Mega Millions jackpot reaches $ 1 billion 580 million, in Redwood City, California, United States on August 8, 2023. Tayfun Coskun | Anadolu Agency | Getty Images ‘Keep your mouth shut’ Hundreds of millions of dollars can be life-changing for a lottery winner, their family and … Read more
To live “comfortably” as a single person in 99 of the largest U.S. metro areas, you’ll need a median income of $93,933, according to a recent SmartAsset analysis. “Comfortable” is defined as the income needed to cover a 50/30/20 budget, which assumes 50% of your monthly income can pay for necessities like housing and utility … Read more
Westend61 | Westend61 | Getty Images While inflation is 10 times higher now than 60 years ago, home prices are 24 times more expensive, a new study found. If home prices increased at the same rate as inflation since 1963, the median price of a typical house in the U.S. would be $177,511, according to … Read more
The Good Brigade | Digitalvision | Getty Images Over the last few years, the Biden administration has repeatedly announced that it was forgiving student debt for small groups of qualifying borrowers. So far, it has canceled the loans for almost 3.9 million people, totaling $138 billion in relief. Those who haven’t qualified for the aid … Read more
U.S. President Joe Biden speaks at the Pieper-Hillside Boys & Girls Club in Milwaukee, Wisconsin, on March 13, 2024. Sara Stathas | Bloomberg | Getty Images How student loan forgiveness used to be taxed Before that Covid-era change, any student loan debt canceled by the government was considered taxable and levied at the borrower’s normal … Read more
Economists expect the Federal Reserve to leave interest rates unchanged at the end of its two-day meeting this week, even though many experts anticipate the central bank is preparing to start cutting rates in the months ahead. In prepared remarks earlier this month, Federal Reserve Chair Jerome Powell said policymakers don’t want to ease up too quickly. Powell … Read more
Kate_sept2004 | E+ | Getty Images Investing can seem overly complicated, and that complexity may paralyze Americans into doing nothing. But investing — and doing so smartly — doesn’t have to be hard. In fact, getting started can be relatively easy, according to financial experts. “You don’t need to be a rocket scientist. Investing is … Read more
This story is part of CNBC Make It’s Millennial Money series, which details how people around the world earn, spend and save their money. With over 50 items on his daily to-do list, Jake Spotswood has his days planned out to a T — a necessity for a 25-year-old juggling a day job in strategy consulting with … Read more
Jessie Casson | Digitalvision | Getty Images It’s hard to lose a spouse, and a costly surprise makes it even more difficult, especially for older women — higher taxes. But financial experts say there are several ways to prepare. In 2022, there was a 5.4-year life expectancy gap between U.S. sexes, according to data from … Read more
