Personal finance

Bloomberg Creative | Bloomberg Creative Photos | Getty Images A government shutdown looms over this coming weekend. If it does occur, a shutdown would pose far-reaching and potentially severe financial risks for American households. Those risks — everything from delayed paychecks and federal benefits to long waits at airports and skeleton customer service crews at

After a prolonged period of high inflation and higher interest rates, Americans are just getting by. As of August, 60% of adults said they are living paycheck to paycheck, according to a new LendingClub report, unchanged from last year. Recent data is painting a mixed picture of where the economy stands. Inflation has shown some signs of cooling but the

When Jacynthe Riviere graduated from college with an accounting degree, “there were plenty of jobs,” she said — and “the big firms paid well.” The year was 1984. Riviere, now 61 and living in Puerto Rico, made roughly $18,000 in her first position as a staff auditor — the equivalent of more than $53,000 today

A general view of the U.S. Capitol, where Congress will return Tuesday to deal with a series of spending bills before funding runs out and triggers a partial U.S. government shutdown, in Washington, D.C. Sept. 25, 2023. Jonathan Ernst | Reuters Washington lawmakers are scrambling to pass a spending bill before an Oct. 1 deadline.

A student debt relief activist outside the U.S. Supreme Court on June 30, 2023. Kevin Dietsch | Getty Images Two big events could soon coincide: The U.S. federal government is poised to shut down just as student loan bills restart after a pause of more than three years. With lawmakers thus far unable to strike

Sen. Tim Scott, R-S.C., speaks to a crowd during a presidential campaign kickoff event at Charleston Southern University on May 22, 2023. The Washington Post | The Washington Post | Getty Images At a campaign event earlier this month in Fort Dodge, Iowa, Sen. Tim Scott of South Carolina said former president Ronald Reagan had it

Courtneyk | E+ | Getty Images Americans are at risk of falling short of what they may need to live on financially in retirement. One potential reason is lifestyle creep, or the tendency to upgrade your lifestyle as you earn more. An upgrade people are often tempted to make – the purchase of a second

Jose Luis Pelaez Inc | Digitalvision | Getty Images There are a lot of opportunities to minimize your tax burden when it comes to retirement planning. Of course, making the most of tax-advantaged accounts is a key aspect of any retirement strategy. Some employer-sponsored plans such as 401(k)s allow you to make contributions on either

If you’re making $80,000 per year, the thought of racking up $1 million for retirement might seem daunting. But with a little dedication and the right timing, it’s likely within reach — if you stick to a clear plan. As a rule of thumb, most financial advisors suggest that you save 10% to 15% of

IRS Commissioner Daniel Werfel testifies before the Senate Finance Committee on April 19, 2023. Chip Somodevilla | Getty Images Roughly one year after Congress approved tens of billions in IRS funding, the agency has unveiled plans to crack down on tax preparers with “questionable practices.” The news comes amid heightened scrutiny of a popular small

Getty Images If you want a good deal on airfare for the fall and winter holidays, get ready to book. “The best time to book is between today and the second week of October, as prices are low and there are a lot of seats left to book,” Hayley Berg, lead economist at Hopper, said Thursday.

Members of the United Auto Workers union hold a practice picket in front of Stellantis headquarters in Auburn Hills, Michigan, on Sept. 20, 2023. Bill Pugliano | Getty Images Regardless of the outcome, the United Auto Workers strike threatens to cause already-high car prices to escalate. After the Big Three automakers — Ford, GM and

Between inflation and economic instability, Americans have depleted most of what they had in their savings accounts. More than half of all Americans now live paycheck to paycheck and most adults — 57% — cannot afford a $1,000 emergency expense, a Bankrate survey from earlier this year found. Meanwhile, experts say having a cash reserve is

Fatcamera | E+ | Getty Images Long waits to receive new passports haven’t yet eased from earlier this year, as the U.S. Department of State works through a backlog of applications amid high demand for international travel. While the State Department expects delays to shorten through the rest of 2023, travelers should continue to plan

Bloomberg | Bloomberg | Getty Images The “summer of strikes” needs a new name — there is no sign of a slowdown in workers walking off the job. Some 362,000 workers have gone on strike so far in 2023, compared with 36,600 over the same period two years ago, according to data by Johnnie Kallas,

In this article CAMLX Follow your favorite stocksCREATE FREE ACCOUNT Ascentxmedia | Istock | Getty Images WASHINGTON — Millions of Americans look forward to claiming Social Security retirement benefits after years of paying into the program. But Social Security beneficiaries face the possibility of an across-the board benefit cut of at least 20% in the

Twenty/20 Girls and young women want to be homeowners by the time they’re 30 — a higher priority even than getting married or earning a lot of money. About half, 52%, of young women ages 7 to 21 want to buy a house by 30, the most of any goal, according to Girlguiding’s Girls’ Attitudes

The Consumer Financial Protection Bureau headquarters in Washington, D.C., on May 14, 2021. Andrew Kelly | Reuters The Biden administration wants to remove medical debt completely from consumer credit reports, so the Consumer Financial Protection Bureau on Thursday outlined its proposed rules to keep unpaid medical bills from affecting patient’s credit scores. One in 5

Westend61 | Getty Images By now, most student loan borrowers have accepted that, after a three-year break, their payments will restart in October. Some people, however, may actually have more time. CNBC spoke to several borrowers who say have statements from their servicer showing their first payment’s due date is in November or December. That’s

The Federal Reserve left its target federal funds rate unchanged Wednesday, but did not signal an end to its aggressive rate hike campaign. For households, that offers little relief from sky-high borrowing costs. Altogether, Fed officials have raised rates 11 times in a year and a half, pushing the key interest rate to a target range of 5.25%