As a personal finance consultant, Michela Allocca often hears from people who feel “very overwhelmed and defeated about their finances,” even if they make a good salary. Allocca gets it â managing money can be hard. But a lot of people who feel helpless are probably doing better than they think they are, says the … Read more
Alexa von Tobel realized the importance of being financially savvy at a young age, but she still wishes she’d learned more about money as a kid. In fact, the Harvard University-trained investor points to one financial lesson in particular she wishes she’d learned earlier: “Really understanding the compounding of investing,” she tells CNBC Make It. … Read more
Tax season often brings a frantic rush of investments in tax-saving instruments, but a strategic approach to tax planning can significantly enhance your financial health. This detailed guide will delve into incorporating tax planning into your broader financial strategy, which can result in improved investment choices and, ultimately, wealth accumulation. Understanding the Integration of Tax … Read more
Around this time in 2022, Delhi-based Shalini Narang found herself with some extra cash and didn’t quite know what to do with it. So the 53-year-old homemaker rang up her trusted advisor, Palak Narang, who suggested she invest in some mutual funds (MFs). Hesitant at first, Shalini quickly came around when she saw Palak’s dizzying … Read more
Runstudio | The Image Bank | Getty Images Credit card interest rates have ballooned to record highs in recent years â and the growing portion of the formula that generates profit for card issuers is partly to blame, according to a new analysis by the Consumer Financial Protection Bureau. The average consumer paid a 22.8% … Read more
Total credit card debt in the U.S. has reached a record high â but people are putting less money toward paying it down. Americans collectively hold $1.13 trillion in credit card debt as of the end of December, according to the Federal Reserve Bank of New York’s latest Household Debt and Credit Report. On an … Read more
U.S. President Joe Biden delivers remarks at an event at Culver City Julian Dixon Library, in Culver City, California, U.S. February 21, 2024. Kevin Lamarque | Reuters When Marlon Fox, a chiropractor in North Charleston, South Carolina, got his student debt forgiven last year, he was thrilled. His $119,500 balance was reset to zero. But the … Read more
The nation’s millionaires and billionaires are evading more than $150 billion a year in taxes, adding to growing government deficits and creating a “lack of fairness” in the tax system, according to the head of the Internal Revenue Service. The IRS, with billion of dollars in new funding from Congress, has launched a sweeping crackdown … Read more
Drazen_ | E+ | Getty Images The IRS on Wednesday unveiled plans for “dozens of new audits” of corporate jet usage as part of its increased scrutiny of large corporations, complex partnerships and top earners. More than 10,000 corporate jets operate in the U.S., and the agency believes some companies overstate deductions while using aircraft … Read more
As excitement surrounding artificial intelligence technology appears to show few signs of slowing down, investors are looking to Nvidia’s latest quarterly earnings report to see whether the company’s meteoric growth can last. The technology company considered to be at the heart of the AI chip boom reported its fourth quarter earnings after the stock market’s … Read more
