Personal finance

US President Donald Trump holds up outgoing President Joe Biden’s letter as he signs executive orders in the Oval Office of the WHite House in Washington, DC, on Jan. 20, 2025. Jim Watson | AFP | Getty Images With President Donald Trump back in the White House and Republicans in control of Congress, experts worry

Cofotoisme | E+ | Getty Images How long it takes you to save for a 20% down payment on a home depends in part on where you live.  In a pricey area such as New York City, it could take the typical buyer roughly 10.85 years to save $173,000, which is 20% of the median

Interest rates moved lower near the end of 2024 as the Federal Reserve cut rates three times, shaving a full percentage point off the federal funds rate since September. In 2025, that trend is likely to continue. But with inflation still above the Fed’s 2% target, a strong labor market and a new administration, the central

Osaka, Japan. Jiale Tan | Moment | Getty Images The new year has many travelers thinking ahead to 2025 vacation plans — and how much those trips may cost. About half — 51% — of Americans say flight cost will determine their destination choices this year, according to Skyscanner. And 50% said hotel costs are

Sweeping changes may be in store once President-elect Donald Trump takes office. Among them could be the closure of numerous federal agencies and regulators. Trump will be sworn in for a second nonconsecutive term in the White House on Jan. 20. Already, he has suggested major cuts to federal spending. To that end, Trump named Elon Musk and Vivek Ramaswamy co-chairs of

After a prolonged period of job gains and wage increases, employers capped off the year by giving their employees bigger year-end bonuses, a new report found. The average bonus awarded in December was $2,503, on average, up from $2,447 in 2023 — an increase of just over 2%, according to an exclusive look at data

sturti | E+ | Getty Images As tax filing season starts, 1 million taxpayers are already set to receive automatic payments from the IRS. That has many people asking, “Will I receive an IRS stimulus check in 2025?” “IRS automatic stimulus payments” is a breakout search, with rising queries related to eligibility, Google Trends data

Hirurg | E+ | Getty Images With the start of tax season approaching, Democratic and Republican lawmakers are split on the future of Direct File, the IRS’ free tax filing program. Direct File, which recently expanded to limited taxpayers in 25 states, processed roughly 140,000 returns in 2024 during the pilot that launched mid-season. The

Burned cars and homes destroyed by the Eaton Fire are pictured in Altadena, California, on Jan. 9, 2025. Zoe Meyers | AFP | Getty Images California residents affected by recent wildfires may be eligible for a one-time $770 payment from the federal government, President Joe Biden said this week. The money — called serious needs

US President Joe Biden speaks during an event in Madison, Wisconsin, US, on Monday, April 8, 2024.  Daniel Steinle | Bloomberg | Getty Images The Biden administration announced on Thursday what it described as its final round of student loan forgiveness, clearing over $600 million in debt for thousands of borrowers. The relief will go

Rep. Jason Smith, R-Mo., speaks during a House Oversight and Accountability Committee impeachment inquiry hearing into U.S. President Joe Biden on Sept. 28, 2023. Jonathan Ernst | Reuters As Congress wrestles over President-elect Donald Trump‘s agenda, several key tax provisions are in limbo, including the child tax credit claimed by millions of families.   Enacted by

Flames and smoke from the Palisades Fire surround a home (C) in the community of Topanga, California, on January 9, 2025.  David Swanson | Afp | Getty Images Firefighters are still working to contain the record-breaking fires that have been raging for more than a week in Southern California. The fires in the Greater Los

Headquarters of Ashford University in San Diego, a for-profit university belonging to Bridgepoint Education. Frank Duenzl | Picture-Alliance | DPA | AP The Biden administration announced Wednesday that it would forgive $4.5 billion in student debt for 261,000 borrowers who attended the now-defunct Ashford University. Borrowers who qualify for the relief are those who studied

A customer browses eggs on partially empty shelves at a grocery store in Lawndale, California, on Jan. 2, 2025.  Patrick T. Fallon | AFP | Getty Images Inflation ticked up in December on the back of higher energy and food prices, according to the consumer price index. The CPI, an inflation gauge, rose 2.9% in

Jose Luis Pelaez Inc | Digitalvision | Getty Images The health sector holds many of the best job opportunities for workers in 2025, due to factors like high labor demand and pay, according to a new ranking from job search site Indeed. Health care roles account for six of the top 25 jobs for 2025,

Freshmen college enrollment increased in fall 2024, the National Student Clearinghouse Research Center said — contrary to its previous report that the enrollment declined. A “methodological error” in the preliminary enrollment report, released in October, caused the miscalculation, Executive Director Doug Shapiro said in a statement Monday. “The error in research methodology caused the mislabeling

President Joe Biden. Irfan Khan | Los Angeles Times | Getty Images The Biden administration announced this week yet another round of federal student loan forgiveness. More than 150,000 people stand to benefit from the roughly $4.2 billion in loan cancellation, which comes days before President Joe Biden leaves office. Here’s who qualifies for the

Richard Stephen | Istock | Getty Images When President Joe Biden signed the Social Security Fairness Act on Jan. 5, it was a victory for those who tirelessly lobbied for years for new changes that will provide more generous benefits to public workers with pensions. Yet for the policy community, the enacted change backed by

Internal Revenue Commissioner Danny Werfel speaks during his swearing-in ceremony at the IRS in Washington, D.C., on April 4, 2023. Bonnie Cash | Getty Images News | Getty Images The 2025 tax season kicks off on Jan. 27, and more taxpayers will have access to Direct File, the IRS’ free tax filing program, which launched

Workers dismantling a mattress. Thomas Lohnes | Getty Images News | Getty Images Consumers in a handful of states are paying to help make the mattress industry more eco-friendly — and more states may follow suit? Four states — California, Connecticut, Oregon and Rhode Island — now levy a flat fee on any mattress or