Personal finance

Aj_watt | E+ | Getty Images A recent Social Security report showed a strong economy has helped the program. Still, Social Security’s trust funds may be depleted in the next decade, if no changes happen sooner. Many Americans have a misplaced worry that benefits will disappear. “The biggest myth about Social Security is that when

Coroimage | Moment | Getty Images Americans traveling this summer have broadly seen prices fall for airline fares, a welcome trend after last year’s sticker shock. But airfare remains more expensive in 2024 for some regions and destinations, largely for trips abroad, data shows. For example, an average round-trip flight to Tokyo, Japan — one

Young woman feeling concerned about grocery prices on the bill in the supermarket. Lordhenrivoton | E+ | Getty Images Many shoppers have been shocked by what they pay at the grocery store checkout. Food prices shot up amid broader inflation in recent years, and remain high for many staples. As consumers struggle with elevated food

US President Joe Biden announces student loan relief with Education Secretary Miguel Cardona (R) on August 24, 2022 in the Roosevelt Room of the White House in Washington, DC. Olivier Douliery | AFP | Getty Images The Biden administration fixes to the country’s $1.6 trillion student loan system have resulted in regular announcements to forgive

Wind turbines in Dawson, Texas, on Feb. 28, 2023.  Mark Felix | Afp | Getty Images As carbon emissions from fossil fuels keep warming the planet, eco-conscious consumers may wonder if there’s a way to buy electricity from renewable sources without installing technology like solar panels or windmills on their property. In short, the answer

Some young retirement savers say they might raid their 401(k) accounts to buy a home. Doing so, however, could be to their detriment, experts warn. Nearly one-third (30%) of aspiring homeowners say they plan to withdraw funds from their 401(k) plan to fund a purchase, according to the Real Financial Progress Index by BMO Financial

In this article NRDS UAL Follow your favorite stocksCREATE FREE ACCOUNT Klaus Vedfelt | Digitalvision | Getty Images If you plan to spend money on travel as the days get longer, sunnier and warmer, be careful: It could leave you with high-interest debt you will still be paying off through the fall and winter. Almost

Wagnerokasaki | E+ | Getty Images When the U.S. Department of Education released the new interest rates on federal student loans this week, there was some unpleasant news for parents. So called Direct PLUS loans for parents will come with a 9.08% interest rate for the 2024-2025 academic year — the highest rate for parents

Former President Donald Trump speaks during a campaign rally in Wildwood Beach on May 11, 2024 in Wildwood, New Jersey.  Michael M. Santiago | Getty Images News | Getty Images Most Americans have paid lower income taxes since 2018 — and trillions in tax breaks will sunset next year without action from Congress. Enacted by

Greg Hinsdale | The Image Bank | Getty Images For registered investment advisors, advancements in artificial intelligence have brought to the surface lingering feelings of unease that many advisors have had since the robo-advising boom of the early 2010s. The AI explosion has dovetailed with Thomas Moore’s time as the director of Betterment for Advisors.

Grace Cary | Moment | Getty Images Inflation fell slightly in April as easing price pressures for groceries and other areas of consumer balance sheets were partially offset by higher gasoline prices and stubbornly high housing costs. The consumer price index, a key inflation gauge, rose 3.4% in April from a year ago, the U.S.

As the costs at some colleges near $100,000 a year, families need a savings strategy they can bank on. Financial experts and plan investors agree that 529 college savings plans are a smart choice for many. And, as of 2024, there are even more benefits, including higher contribution limits and the flexibility to roll unused

President Joe Biden delivers remarks on canceling student debt on February 21, 2024 in Culver City, California. Mario Tama | Getty Images News | Getty Images The U.S. Department of Education is giving borrowers more time to meet a key student loan forgiveness deadline. Those who request a so-called loan consolidation by June 30 —

Simonskafar | E+ | Getty Images Incentives are coming back to the auto market, but high interest rates are weakening those deals for car shoppers. “Pre-pandemic, people would see a 0% financing for 60 months and think, ‘no big deal,’ because it was available everywhere,” said Jessica Caldwell, an insights analyst at Edmunds, an auto

Lourdes Balduque | Moment | Getty Images High inflation eased slightly in April, which may provide some relief to consumers who have been contending with elevated prices.   For retirees and people approaching retirement, higher than normal inflation poses unique challenges. Most retirees have access to one of the few inflation-adjusted sources of income —

Keeping up with credit card debt is getting more difficult. Americans now owe $1.12 trillion on their credit cards, the Federal Reserve Bank of New York reported Tuesday. The average balance per consumer stands at $6,218, up 8.5% year over year, according to a separate quarterly credit industry insights report from TransUnion. “Consumers continue to use credit,

D3sign | Moment | Getty Images As the affordable options and relief measures for federal student loan borrowers pile up, consumer advocates advise caution before refinancing your debt. “How’s this for a warning? DON’T!” Betsy Mayotte, president of The Institute of Student Loan Advisors, wrote in an email to CNBC. Refinancing your federal student loans turns

Oscar Wong | Moment | Getty Images Inflation is higher than policymakers would like across the broad U.S. economy. Yet, there are many sectors seeing the opposite dynamic: deflation. Deflation means prices are declining for consumers. Conversely, inflation measures how quickly costs are rising for goods and services. Consumers have largely seen prices deflate for

Riska | E+ | Getty Images Many Americans are earning more on cash after interest rate hikes from the Federal Reserve — and that income can trigger a surprise at tax time. “So many people were shocked by their cash interest earned” and taxes owed, said Boston-based certified financial planner Catherine Valega, founder of Green

Prasit photo | Moment | Getty Images As employers compete to attract and retain talent, equity compensation — or an ownership stake in the company — has become a key workplace benefit. Some 72% of companies offer some form of equity compensation to certain employees, a 2023 survey from Morgan Stanley found. That’s up from