Current Federal Reserve Chairperson Jerome Powell recently indicated that the Fed may soon cut interest rates for the first time since the start of the financial crisis in 2009. What would such a change in the federal funds rate mean for you?
In today’s world of 24/7 cable TV and Internet news, people are more
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Debt is no picnic at any age, but it’s particularly rough on senior citizens. Most are nearing their retirement years or have already retired with little time (or money) to pay down debts.
Seniors tend to have better access to more credit if they need it. Their average credit score is 745, well above the
Does your family celebrate Amazon Prime Day? Over half of Amazon customers are estimated to be members of Amazon Prime, a staggering figure. Prime Day 2018 was the biggest shopping day of the year, exceeding even Black Friday and Cyber Monday, with 89 million visitors logging on and over 100 million products sold. Prime Day
America’s credit card debt is nearly $1 trillion, according to Federal Reserve data. How much of that debt belongs to your kids?
The 2019 Parents, Kids, and Money Survey from T. Rowe Price shows that credit card use has skyrocketed among 8-to-14-year-olds over the past seven years – from 4% in 2012 to 17% today.
Few things are more effective at fighting identity theft than credit freezes. When you freeze your credit, potential lenders can’t access your credit file to assess the risk of lending money to you. No risk assessment means no credit – so identity thieves can’t use your stolen information to create fake accounts in your name.
You finally made it through college and graduated with a degree, a new set of friends, great memories, and most likely a significant amount of student loan debt. How can you manage paying such a substantial debt on a starting salary (assuming you were fortunate enough to find a job at all)? It is not
By Dawn Springer
Mortgage rates may be rising but there’s still room to refinance your home loan. You might have heard much said about the constant rise of interest rates over the past year, with some blaming that for a recent dip in home sales. Yet mortgage rates remain near record lows, presenting an opportunity
By Laurence Jankelow, cofounder at Avail
Whether you’ve owned your two-flat duplex for years or you’re trying to decide whether real estate is the right addition to your portfolio, it’s important to think of rental property as an investment. Like any investment, your goal should be to maximize returns.
You don’t need to predict which
Congratulations! You’ve made it through college and are looking forward to using your new skills in the real world. Here’s our gift to help you start your journey – a copy of your credit report.
If you aren’t familiar with your credit report and how it works, now’s the time to check it out.
Congratulations! You’ve just finished paying off your mortgage – probably the largest debt you’ll ever have in your life. Should you expect your credit score to increase as a result? Not necessarily.
Your credit score is calculated from your credit report, a history of all of your borrowing and payment activity. While your mortgage was
Americans appear to be feeling more confident in their finances – at least with respect to their credit card payments.
According to a new survey from CompareCards.com, more Americans are paying their credit card bills in full. As of January 2019, 39% of survey respondents paid all credit card bills in full over the last
Total student debt in America is almost $1.5 trillion, while the average person with education debt in 2018 owed between $20,000 and $24,999. This massive debt load threatens the ability of recent and future graduates to reach their goals of home ownership and economic independence.
How can you successfully get your children through college without
When you were a first-time homebuyer, you were probably surprised by the total amount of fees and closing costs. Are you familiar with the costs on the selling side?
A recent study from Zillow and Thumbtack calculated the average costs of selling a home both nationwide and in specific markets. The national average is $20,851,
For some parents, sending their kids to day camp is a way to get a bit of peace and quiet. For others, it is an opportunity to work or look for employment without having to scramble for childcare. If you are in the latter category, do not let your hectic life cause you to forget
One of the most controversial provisions of the 2017 Tax Cuts and Jobs Act (TCJA) was the cap on state and local tax (SALT) deductions. The TCJA capped the SALT deduction at $10,000 – which sounds generous until you realize how high state and local taxes can be in certain areas.
SALT taxes are combinations
Some trends fade and then return after a few decades or so, like bell bottoms and tie-dye. You probably have a few things in the back of your closet waiting patiently to become a hot new retro-style – whether that’s good or bad for society in general.
Unfortunately, that’s true for financial trends as well
By Andrea Woroch
After months of heavy spending – and eating – people across the country start to think to themselves: this isn’t sustainable.Like clockwork, Americans make ambitious plans.January is the big month, but that’s just the beginning.Or, so they think.
According to U.S. News & World Report, by the second week of February, some
Hey, We Agree On Something It’s difficult to get a bill passed on a bipartisan basis in the current Congress, but the latest retirement bill is one of those rarities. The Setting Every Community Up for Retirement Enhancement (SECURE) Act is designed to give Americans greater access to retirement funds while making it easier to
How much of your available credit are you using right now? Experts generally suggest keeping your credit utilization ratio – the amount of credit in use compared to your credit limits – below 30% to keep your credit score high.
A new study from CompareCards.com shows that many Americans are struggling to meet that goal,
“Attention, employers. This is Denise. She’s just entering the working world, but she’s already concerned about retirement. She knows that traditional defined benefit pensions covered 84.4% of workers in 1979 but only covered 27.7% as of 2015 – and the share probably hasn’t been increasing.
She expects you to offer a 401(k) or similar defined
Risky home loans led to the 2008 housing crisis and the subsequent Great Recession. Regulators and lenders quickly tightened mortgage-underwriting standards to prevent future crashes. Have we forgotten the roots of the housing crisis in just over a decade?
The Federal Housing Administration (FHA) thinks so and has taken action to reverse trends showing increased
You want to buy a home, but you haven’t been saving for one. You want to retire near the typical retirement age, but you haven’t been saving for that, either. Don’t worry, the homeowner and retirement fairies will be pulling up to your door soon to deliver a truckload of cash.
Absurd, isn’t it? Nobody
You see lines on your credit or debit card statement that read “APL*ITUNES.CON/BILL 866-712-7753 CA” or something similar. Where did all those charges from iTunes come from?
Maybe it’s your spouse downloading audiobooks. Maybe it’s your kids downloading their favorite songs or inadvertently making in-app purchases while playing online games. Maybe it’s subscription renewals that
“Honey, our taxes are just too high. We’re moving to Alaska,” said no one, ever.
Nevertheless, a new study from the moving assistance website HireAHelper.com found that your state tax burden could change drastically with an interstate move. According to the study, if you move from the District of Columbia to Tennessee, your collective state
Mistakes are part of the human condition; it’s impossible to avoid them 100% of the time. But financial mistakes are in a class all their own — they tend to have a snowball effect and get worse over time. A seemingly small money mistake in your twenties can have outsized consequences in your thirties, forties,
Do you sometimes use your credit card just to get rewards? According to a new poll from finder.com, more Americans are making purchases to chase rewards – but at least we’re spending less in the process.
Finder.com’s recent Chasing Points study found that almost 2 in 5 (39%) respondents have used a credit card just
MoneyTips Not as Much as It Seems How is your 401(k) doing? Fidelity Investment’s Q1 2019 retirement analysis shows that many retirement funds are following a positive trend. Ten years after the Dow Jones hit its lowest mark in the financial crisis, retirement balances have more than doubled in 401(k), IRA, and 403(b) accounts. Average
Has your credit card information been exposed in a data breach? If not, it probably will be at some point. According to the Identity Theft Resource Center (ITRC), 14.2 million credit card numbers were exposed in 2017 – an 88% increase from 2016. Given the collective data breaches, there’s little reason to expect 2018 and
A recent survey by Credit Takeoff revealed that although the majority of the 500 American respondents prioritize having a good credit score, many have a poor understanding of how credit scores and credit reporting work.
Only 28% Are Very Knowledgeable About How Their Credit Score is Calculated The results of the survey suggest that Americans
You reach into your pocket or purse, but your wallet isn’t where it belongs. With a sinking feeling, you realize that your wallet is lost, and likely stolen. What do you do now?
Avoid the urge to panic and think of where it may have been taken or lost – but don’t search too long
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