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Consumers are spending more to keep up with the surging cost of living and it may get worse before it gets better. “Even though wage growth has been the best in decades, it’s been outpaced by increased household costs,” said Greg McBride, chief financial analyst at Bankrate.com. “With inflation at a 40-year high, that has

miodrag ignjatovic | E+ | Getty Images If you have a Medicare supplement plan — aka, Medigap — there may be times when it’s worth making sure it’s still the best fit for you. Medigap policies are standardized — same-named plans offer identical benefits no matter which private insurance company sells it — but the

Newly minted graduates are in for a shock. Although the job market and starting salaries for the Class of 2022 look significantly better than last year, they may fall far short of graduates’ expectations. Employers plan to hire about 31% more new degree holders from this year’s graduating class than they hired from the Class

Building wealth is cool. That’s a mantra of Modern Blk Girl, a community aimed at teaching Black women the importance of investing and wealth creation that was founded by Tiffany James when she was just 25. Like most newly minted college graduates, James had student loan debt and was living just barely within her means

Tetra Images | Tetra images | Getty Images There’s a recent uptick in states swapping tiered income taxes for a flat tax, charging the same rate to all residents, regardless of earnings. Over the past 100 years, only four states have changed from graduated rates to flat taxes, according to the Tax Foundation. Another three

Israel Sebastian | Moment | Getty Images There are some financial goals more pressing for adults right now than bulking up their nest egg. For 2022, just 17% have made saving for retirement their top financial priority, according to First National Bank of Omaha‘s latest financial wellness survey. And nearly half of respondents — 46%

kate_sept2004 Summer vacations plans could be in flux this year. This time, it’s not because of Covid-19. Instead, high prices due to inflation may prompt prospective travel goers to switch up their plans. In fact, 69% of adults who say they will take a vacation this summer anticipate changing their travel plans as prices have

GlobalStock | Getty Images Deciding at what point you will collect Social Security benefits may be one of the biggest decisions you make in retirement. Yet many people who are at or near the age when they face that choice may need to brush up on the program’s rules before they do. MassMutual recently gave

Westend61 Whether you got a refund or owed money this tax season, it’s never too soon to start thinking about next year’s bill.  Boosting your 401(k) contributions for 2022 may provide two benefits: reducing your adjusted gross income while also padding your retirement savings.   What’s more, there’s a higher 401(k) employee deferral limit for 2022,

At the country’s top colleges, the most recent application season was the most competitive on record, but getting accepted at several schools may have been the easy part for students. Now they have less than one week to decide on which school they’ll attend ahead of National Decision Day on May 1, the deadline for

Alxeypnferov | Istock | Getty Images As more people head back to the office, they may not be able to rely anymore on their work wardrobe from more than two years ago. Their tastes or size may have changed during the pandemic, or their company might have amended expectations around professional attire. Restocking your closet

At the country’s top colleges, the most recent application season was the most competitive on record, but getting accepted at several schools may have been the easy part for students. Now they now have less than one week to decide on which school they’ll attend ahead of National Decision Day on May 1, the deadline

Ariel Skelley | Digitalvision | Getty Images How would it feel to give your children an enormous leg up on saving for retirement while also helping them form healthy money habits? The answer could be opening a Roth individual retirement account for them. To start, a Roth IRA is a special retirement account that allows

Jose Luis Pelaez Inc | Getty Images As midterm elections loom, advocates for voters ages 50 and up are hoping Congress will take up one issue that could help rein in rising costs — prescription drug prices. A proposal to let the government negotiate some prescription drug prices covered under Medicare was included in Democrats’

Getty Images If you filed a last-minute tax return, you may see your 2021 refund faster than you’d expect.  Nine out of 10 refunds have arrived within 21 days this season, according to the IRS. As of April 15, the agency has issued more than 78 million refunds worth over $242 billion in total, and

Musketeer | Getty Images For anyone who’s nearing retirement and watching the stock market nervously, those jitters may mean it’s time to review your portfolio. While stocks over time offer the best opportunity for long-term growth despite periods of volatility, a persisting market downturn heading into retirement can be problematic if you’re tapping those assets

Fizkes | Istock | Getty Images For some consumers, medical debt they don’t even owe appears to ends up haunting them anyway. Complaints jumped 31% from 2018 to 2021 about debt collectors attempting to get consumers to fork over amounts that already were paid or otherwise not owed, according to a new report from the

Prices for gas, food and housing have skyrocketed in the last year. Less noticeable, to some, is the rising cost of health care.  Medicare, the U.S. government’s national health insurance program for Americans age 65 and over, imposed a 14.5% increase in premiums for Part B (outpatient care coverage) for 2022, a record high and

Many Americans agree it now takes a six-figure salary — at least — to get by amid today’s rising prices and economic uncertainty. Yet, 72% of six-figure earners are men, according to a recent report by MagnifyMoney that’s based on an analysis of U.S. Census Bureau data. For every woman who makes at least $100,000,

MoMo Productions | DigitalVision | Getty Images Inflation is taking a substantial bite from the income retirees get from pensions. Many pensions periodically increase recipients’ payment amounts by offering a cost-of-living adjustment. But those raises are small relative to the 8.5% annual inflation rate in March, the highest in over 40 years. Some plans, especially