Image: Getty Images; Illustration: Bankrate HELOC rates are feeling the impact of the Federal Reserve’s recent quarter-point rate cut. The $30,000 home equity line of credit fell 18 basis points to 7.63%, its lowest level in almost three years, according to Bankrate’s national survey of lenders. Meanwhile, the benchmark five-year…
Key takeaways Buying a new car allows for customization and the latest technology, but it comes at a higher price and loses value quickly. Used cars are less expensive and slower to depreciate, but may require compromises and can come with higher maintenance costs. When deciding between new and used,…
Most drivers only interact with a rental car on vacations or time away — and for many, they can also be a means to getting a vehicle of their own. While rental cars go through many drivers, they also typically have thorough maintenance records and a low price tag. But…
Key takeaways Texas has the highest car loan balance of $7,920. While vehicle expenses vary across the country, drivers can still work to secure a competitive rate by improving their credit and comparing different lenders. Vehicle affordability is still a challenge for many drivers and has resulted in more auto…
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The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
Historically Black colleges and universities are on the frontlines of the One Big Beautiful Bill Act’s new limits on parent…
The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
With artificial intelligence beginning to eat away at many white-collar entry-level jobs, and the unemployment rate for recent college graduates…
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Key takeaways Your required minimum distribution (RMD) amount changes each year based on the IRS’s life expectancy calculation for your age. You calculate your RMD by dividing your year-end account value by the estimated remaining years in your lifetime, as per an IRS table. If…
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What Is the 4 Gift Rule for Christmas? A Financial Safety Net What the 4-gift rule for Christmas provides is a simple guide…
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OBSERVATIONS FROM THE FINTECH SNARK TANKBankers wants to discuss AI strategy. They’re excited about chatbots, machine learning models, generative AI tools, and AI…
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Robo-advisors automate the investing process for you, making it simple to invest in a diversified portfolio of assets — and they cost much less than a typical financial advisor. It’s little wonder that many investors have turned to them, and robo-advisors now manage hundreds of billions of dollars. What a robo-advisor does…
Key takeaways The Federal Deposit Insurance Corp. (FDIC) protects your money if your bank fails. Deposits are insured for up to $250,000 per depositor, per FDIC-insured bank, per ownership category. FDIC insurance covers traditional bank deposit products such as checking and savings accounts. In the event of a bank failure,…
You can use money from a health savings account (HSA) to pay for COBRA health insurance, allowing you to cover premiums with tax-free withdrawals. COBRA premiums qualify as medical expenses under HSA rules, which can make an HSA useful for maintaining coverage after leaving a job. Before using these funds,…
Cavan Images/Getty Images Key takeaways It can be intimidating to start building credit without a credit history, but there are several good credit card options available. Interest rates, annual fees, security deposits and potential rewards are all factors to consider before making a decision. Some top options for first-time credit…
A Roth IRA conversion is available any time you have money in a qualifying pre-tax account. People choose to make a conversion to reduce future required minimum distributions (RMDs), spread taxes over several years and create a source of tax-free retirement income. But the success of this strategy will depend…
Andrey_Popov/Shutterstock Key Takeaways Mobile check deposit lets you deposit checks by taking photos with your smartphone instead of visiting a bank branch or ATM. Most major banks offer this feature through their mobile apps, including Chase, Bank of America and Capital One. Banks typically set daily or monthly limits on…
Tatiana Meteleva/Getty Images It’s easy to get swept away in the latest viral holiday trend or marketing push. This year, it’s a Ralph Lauren Christmas. Don’t miss the Viral TikTok garland. Stuff your stockings with lippies, digital cameras and ice rollers. Hide the elf on the shelf in a new…
Images by Getty Images; Illustration by Austin Courregé/Bankrate A high-yield savings account earning 4% annual percentage yield (APY) would generate about $400 in interest on a $10,000 deposit over one year. This is over six times more than the national average savings rate of 0.60%, according to Bankrate’s weekly survey…
Images by Getty Images; Illustration by Austin Courrege/Bankrate Key takeaways Having $100,000 in a CD earning 4% annual percentage yield (APY) would earn you around $4,000 in interest in one year. This is more than double the $1,930 you’d earn with $100,000 in a one-year CD that earns the approximate…
Private health insurance premiums will be going up in 2026 — in some cases, by a lot. Congressional Democrats and Republicans remain deadlocked on health care reform, following disagreements over America’s health insurance marketplace that contributed to November’s government shutdown. At the heart of the issue is the extension of…
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