Certificates of deposits (CDs) continue to be worth considering as a component of your savings strategy in 2025. Yields on the best CD rates increased to highs not seen in years, thanks to the Federal Reserve raising its benchmark rate 11 times in 2022 and 2023. In 2024, yields dipped…
When the Federal Reserve changes interest rates, consumers feel the ripple effects in all sorts of ways. For savers, banks offering top interest rates tend to pay more when the U.S. central bank hikes rates and less when it cuts them. “Regardless of what the Federal Reserve decides to do,…
When the Federal Reserve cuts interest rates even by just 0.25%, it will have a direct impact on your finances. While a quarter of a percent may sound small, even slight changes in rates can ripple through the economy affecting everything from credit card payments to mortgage rates (more on…
Life throws curveballs. And often those curveballs mean you’re spending your hard-earned savings or you’re borrowing money instead. It can feel like a catch-22: Creating savings should help you avoid costly borrowing, but spending it equals losing it and going back to square one. So what is a saver to…
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How long it takes to get a 401(k) loan can vary depending on your employer, plan administrator and whether your plan offers an online portal or requires paperwork. In some cases, the process may take just a few days. In others, you may need to…
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The world of budgeting and personal finance is all abuzz with the news: Mint is shutting down this year. If you’re currently a budgeter with Mint, we know you’ve got lots of questions. Many of them probably start with, what the heck? (or something stronger). Let’s answer at least two…
If you’re like me, you’re probably already wondering when you’ll have time to wrap all your presents for Christmas. I want my gifts to look cute, but I don’t want to spend a ton of time or money on them this year. I’ve fallen into that trap before! Wrapping presents…
Hill Street Studios/Getty Images Key takeaways Tariff uncertainty may delay Federal Reserve rate cuts, as the tariff deadline has been moved to Aug. 1. High-yield savings accounts remain a smart move, with leading yields surpassing 4 percent APY. If the Fed cuts rates later this year, so too might today’s…
The price of gold has been hitting all-time highs for more than a year, and it seems like its momentum won’t slow down. But just how good have gold’s returns been over time? Here’s how much money you’d have now if you invested $1,000 in gold 10 years ago, as well…
Taking out student loans to pay for college seemed like a great idea at the time (hey, everyone was doing it!). But now you’re out of school and struggling to make your loan payments. Maybe you’ve already defaulted on your student loans—or it’s just a matter of time before you…
Klaus Vedfelt/Getty Images A 403(b) is the retirement planning vehicle used by not-for-profit or other tax-exempt employers of nurses, doctors, teachers, professors, school personnel, researchers, clergy, and some governmental organization workers. 403(b) plans are named after the section of the Internal Revenue Service (IRS) code that created them. It has…
Look, we get it—taxes are the worst. Just hearing the words “Tax Day” is enough to make you reach for a bottle of aspirin . . . or maybe a stiff drink. But here’s the thing: April always rolls around, and taxes aren’t going anywhere. So, why not ditch the…
Taxes . . . can’t live with ’em, can’t live (in America) without ’em. Whether we like it or not, income taxes are as much a part of American life as baseball and apple pie. And while we groan and grumble as we fill out our tax returns every spring,…
Medical expenses can add up fast. If you’re wondering if you can deduct medical expenses from your taxes, the short answer is: maybe. There are a few key things to keep in mind when you’re figuring out which medical expenses you can and can’t deduct. We’ll break it down for…
Hey, we’re not going to geek out on accounting terminology, but to understand tax liability, it’s helpful to be familiar with two basic accounting terms: assets and liabilities. Assets are things you own—think money, property, your collection of obsolete cell phones. Liabilities are money you owe to other people. In other words: Bills…
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