In his State of the Union address, President Joe Biden celebrated his administration’s progress in the fight against inflation. “Wages keep going up and inflation keeps coming down,” Biden said in the annual speech before Congress. To be sure, inflation has cooled while wages have ticked higher — but households are still struggling to keep up with the increased cost of living. More from Personal Finance:Why … Read more
Consumers have been increasingly relying on credit cards to make ends meet, and it may be finally catching up with them. The national average credit score, which has steadily increased over the last decade, fell to 717 from a high of 718 in the beginning of 2023, according to a report from FICO, developer of one of the … Read more
The author, Bola Sokunbi Credit: Bola Sokunbi When it comes to managing money, women commonly use the word “fear” to describe what stands between them and the life they want. But achieving financial success means stepping out of our comfort zone, said Bola Sokunbi, founder of Clever Girl Finance and author of “Choosing to Prosper” — … Read more
A young woman in her early 20s riding a chopper cycle. Karan Kapoor | The Image Bank | Getty Images Having a strong budget can help you build financial wellness. “A budget is a picture of what your money is doing,” Tiffany Aliche, also known as The Budgetnista, told CNBC during a Women & Wealth … Read more
Customers look at appliances for sale at a Best Buy store in Miami, Florida, Oct. 8, 2021. Joe Raedle | Getty Images Sara Rathner didn’t want to replace her clothes dryer. But a part was clearly broken, causing the machine to make a high-pitched squealing sound every time she dried a load of laundry. “We … 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
 Sturti | E+ | Getty Images The cost of housing is generally expensive across the board for Americans, whether you’re a renter or an aspiring homeowner. While both home prices and rent have outpaced wage growth in most areas, renting can be the smarter financial choice in many markets, said Susan M. Wachter, a … Read more
With consumer prices still rising due to higher inflation, there is one way to save money that you may be overlooking: raising your credit score. Increasing your score from fair (580 to 669) to very good (740 to 799) may help you save $22,263 over the life of your credit and loans, according to a … Read more
Taking a financial education class in high school does pay off. In fact, there is a lifetime benefit of roughly $100,000 per student from completing a one-semester course in personal finance, according to a recent report by consulting firm Tyton Partners and Next Gen Personal Finance, a nonprofit focused on providing financial education to middle and … Read more
Marlon and his dog, George. Courtesy: Since 1988, Marlon Fox has been paying down his federal student debt. He didn’t see an end in sight. Then, on Aug. 25, 2023, an email popped up in his inbox with the subject line: “Your student loans have been forgiven!” His $119,500 balance was reset to zero. “I … Read more
