Personal finance

Mariah Carey performs “All I Want for Christmas Is You” at the 2023 Billboard Music Awards.  Gilbert Flores | Penske Media | Getty Images “I don’t want a lot for Christmas / There is just one thing I need / An answer to just one question / An estimate of Mariah Carey’s song royalties, please?”

U.S. President Joe Biden delivers remarks on the economy at the Brookings Institution in Washington, DC, U.S. December 10, 2024.  Kevin Lamarque | Reuters The Biden administration announced on Friday that it would forgive another $4.28 billion in student loan debt for 54,900 borrowers who work in public service. The relief is a result of fixes

A few years ago, Wes Bellamy, 38, took stock of his investment accounts in preparation to buy a home in Charlottesville, Virginia. It was then that he noticed significant gains in his 401(k). Although Bellamy, who is the chair of the political science department at Virginia State University, had been saving diligently for nearly a

Professionalstudioimages | E+ | Getty Images President-elect Donald Trump has been vocal about potentially raising tariffs on imported goods, which experts say could bump up car prices. Trump has talked about implementing an additional 10% tariff on Chinese imported goods, as well as adding tariffs of 25% on all products from Mexico and Canada. On

Richard Stephen | Istock | Getty Images As Congress scrambles to avoid a government shutdown, the Senate is also poised to consider another bill that would increase Social Security benefits for some public workers. But the bill, the Social Security Fairness Act, may undergo changes if some Senators’ efforts to add amendments are successful. Per

Homebuyers touring a house with a real estate agent. sturti | Getty The Federal Reserve on Wednesday cut interest rates for the third time in 2024. Despite the move, mortgage rates increased. The 30-year fixed rate mortgage spiked to 6.72% for the week ending Dec. 19, a day after the Fed meeting, according to Freddie

Drs Producoes | E+ | Getty Images The average 401(k) savings rate, including employee deferrals and company contributions, continued to climb in 2023, a new industry survey reported. In 2023, the average combined savings rate was 12.7%, up from 12.1% in 2022, with employees deferring 7.8% of pay and companies adding 4.9%, according to the

In this article NNI Follow your favorite stocksCREATE FREE ACCOUNT Chair Elizabeth Warren, D-Mass., conducts the Senate Finance Subcommittee on Fiscal Responsibility and Economic Growth hearing titled Promoting Competition, Growth, and Privacy Protection in the Technology Sector, in Dirksen Building on Tuesday, December 7, 2021. Tom Williams | CQ-Roll Call, Inc. | Getty Images A

The US Capitol building in Washington, DC, on November 24, 2024.  Daniel Slim | Afp | Getty Images The Senate is getting closer to a final vote on a bill that would increase Social Security benefits for an estimated 3 million people. The chamber voted Wednesday to let consideration of the bill — the Social

Credit card rewards can go a long way toward attracting new customers and encouraging existing borrowers to spend. But whether they’re earning cash back, points or miles, most consumers end up leaving some reward dollars on the table. Now the Consumer Financial Protection Bureau is cracking down on some issuers’ “bait-and-switch” rewards programs. The consumer

Hispanolistic | E+ | Getty Images Many investors are likely still deciding whether to stay in bitcoin or reduce their profits from the last bull run to new all-time highs. So, after a strong year for bitcoin, it could be time for investors to weigh rebalancing their portfolio by shifting assets to align with other

Skynesher | E+ | Getty Images When it comes to financial resolutions for 2025, there’s one goal that often lands on the top of the list — paying down debt, according to a new survey from Bankrate. That’s as a majority of Americans — 89% — say they have a main financial goal for 2025,

Eyecrave Productions | E+ | Getty Images Buying a house is not easy or cheap, especially in today’s market.  But while it’s too soon to tell whether the housing market is going to favor buyers or sellers next year, some areas will offer more favorable market conditions than others, according to a new report by

Ivan Pantic | E+ | Getty Images With the Federal Reserve’s recent moves to lower interest rates — and further cuts on the horizon — some federal student loan borrowers are wondering if now is a good time to refinance. “We are already seeing more borrowers tempted to refinance their federal loans,” said Betsy Mayotte,

Fcafotodigital | E+ | Getty Images If you’re eager to save more for retirement, it’s not too early to boost 401(k) plan contributions for 2025, financial experts say. For 2025, you can defer up to $23,500 into 401(k) plans, up from $23,000 in 2024. For workers age 50 and older, the 401(k) catch-up contribution remains

Alfexe | Istock | Getty Images With the Federal Reserve expected to cut interest rates again this week, it’s a great time to earn competitive returns on cash, experts say. “The best offers on savings accounts, money markets and CDs [certificates of deposit] are still well above inflation, and that’s likely to persist well into

US President Joe Biden speaks during an event in Madison, Wisconsin, US, on Monday, April 8, 2024.  Daniel Steinle | Bloomberg | Getty Images With weeks to go before President-elect Donald Trump takes office, the Biden administration is still taking steps to deliver sweeping student loan forgiveness to millions of Americans. The U.S. Department of

Tetra Images | Tetra Images | Getty Images As year-end approaches, there’s still time to slash your 2024 tax bill or boost your refund, financial advisors say.   Typically, you can expect a tax refund when you overpay taxes throughout the year. Alternatively, you get a tax bill when you haven’t paid enough. Most 2024 tax

Pixdeluxe | E+ | Getty Images As the Federal Reserve prepares to lower interest rates once again at the end of its two-day meeting this week, Americans’ assessments of the future are improving. Although a prolonged period of high inflation took a toll on household budgets, consumers are feeling increasingly optimistic about their financial situation, according to a

Cavan Images | Cavan | Getty Images Last month, Congress moved to take rare bipartisan action to change certain Social Security rules. The House of Representatives on Nov. 12 passed the Social Security Fairness Act by an overwhelming 327 to 75 majority. The proposal would eliminate rules that reduce Social Security benefits for those who