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
Kathrin Ziegler | Digitalvision | Getty Images “Sorry I am dead.” This is how Doug Boneparth, a certified financial planner, starts what he calls a “death note” to his wife, Heather. Such a document, he says, is distinct from other estate-planning cornerstones like drafting a will, which lays out one’s wishes for how to distribute … Read more
The House of Representatives on Wednesday passed a bipartisan tax bill that would expand the child tax credit through 2025 and could have implications for taxpayers as early as this year. The $78 billion package wouldn’t go so far as reviving the expanded child tax credit families were able to claim as part of the … Read more
Cavan Images | Cavan | Getty Images “Financial sextortion,” a type of cybercrime that targets teens and tweens, is on the rise. Reports of financially motivated sextortion involving minors increased at least 20% from October 2022 to March 2023 relative to the same six-month period the prior year, the FBI said in January. “Sextortion is … Read more
The Federal Reserve announced Wednesday it will leave interest rates unchanged, setting the stage for rate cuts to come and paving the way for relief from the combination of higher rates and inflation that have hit consumers particularly hard. Although Fed officials indicated as many as three cuts coming this year, the pace that they trim interest … Read more
U.S. President Joe Biden speaks to United Auto Workers members at the UAW’s Community Action Program legislative conference in Washington, D.C., on Jan. 24, 2024. Leah Millis | Reuters The Biden administration announced on Wednesday that it will try to deliver student loan forgiveness to borrowers experiencing financial hardship. After the Supreme Court struck down … Read more
Inflation is cooling. Consumer spending continues to be at record highs, while consumer confidence has been trending up. And, after almost two years of rate hikes by the U.S. Federal Reserve, investors are expecting at least a few cuts to interest rates this year. Their anticipation is understandable: The federal funds rate hasn’t been this … Read more
Hiraman | E+ | Getty Images It wasn’t so long ago that workers had the power to “quiet quit” or join the great resignation. That is no longer quite so easy. Some laid-off employees report they are having a hard time in their job search or making it through hiring processes. In fact, 55% of … Read more
The peak Australian community services body says JobSeeker and related government payments must be “urgently raised and without further delay” following the announcement that an additional $115 million in funding will be committed to cost-of-living support services over the next five years. Beneficiaries of the funding include emergency relief organisations, financial counselling and other hardship … Read more
Travelcouples | Moment | Getty Images Jan. 30 is National Plan for Vacation Day — and travelers mapping out their next excursion have a few reliable money-saving hacks at their disposal. Total travel costs — including airfare, hotels, rental cars, dining out and entertainment — are down an average 2% in the past year, according … Read more
