Personal finance

New technologies have given people access to more information and new tools to manage their money. Robo-advisors can build and rebalance portfolios based on customer preferences. However, automation doesn’t factor in people’s emotional needs. Experts say adding behavioral science to investing knowledge can help financial advisors get better results for their clients.  Understanding behavioral science 

Longhua Liao | Moment | Getty Images Some investors may worry about market volatility ahead, given a contentious presidential race, lingering inflation, sinking consumer sentiment and uncertainty over Federal Reserve interest rate cuts. Financial analyst Tom Lee has a more optimistic outlook. “Since Covid, companies went through a huge stress test, and they showed that

U.S. President Joe Biden delivers remarks regarding student loan debt forgiveness in the Roosevelt Room of the White House on Wednesday August 24, 2022. Demetrius Freeman | The Washington Post | Getty Images The Biden administration said on Wednesday that it would forgive $7.7 billion in student loans for more than 160,000 borrowers, its latest

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

Urbazon | E+ | Getty Images An unequal distribution of wealth in the U.S. can make it so some children are behind from birth. Now lawmakers are considering whether federal children’s savings accounts can help. One proposal — the 401Kids Savings Act — would create savings accounts for all newborns. Low- and moderate- income families

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

President Joe Biden announces student loan relief with Education Secretary Miguel Cardona, right, in the Roosevelt Room of the White House in Washington, D.C., Aug. 24, 2022. Olivier Douliery | AFP | Getty Images In attempts to fix the country’s $1.6 trillion student loan system, the Biden administration has routinely announced forgiveness of large shares

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

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

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

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 Tuesday, 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. That is the highest rate for parents in more than 30

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

JGI/Tom Grill May 17 is your last chance to file 2020 returns and claim your refund, which could include missed pandemic relief, experts say. As of May 6, there was still an estimated $1 billion in unclaimed refunds from tax year 2020, and the median payment was $932, according to the IRS. There is no

A voter casts her ballot in the Pennsylvania primary elections at the Rockledge Fire Company in Rockledge, Pennsylvania, May 17, 2022. Hannah Beier | Reuters Older women are the largest bloc of swing voters — and the biggest concern they have heading into the November election is their financial security, according to the AARP. Most

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

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,

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.