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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Key takeaways A divorce decree outlines which spouse is legally responsible for each debt after the divorce is completed. States either have community…
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This fall, FICO (the creator of the most popular credit scoring formula) will begin incorporating buy now, pay later (BNPL) loans into Americans’ credit scores for the first time. Depending on your perspective, this is either a very positive development or a very unwelcome one. When we talk about buy…
We know nobody’s talking about rising health care costs because it’s super affordable right now and nobody’s struggling at all. (That . . . is sarcasm.) But we thought we’d address it anyway—specifically, how to save on health care. You know, just in case you felt like saving money sometime.…
Halfpoint Images/Getty Images Key takeaways You can get a $30,000 personal loan from banks, credit unions, online lenders and peer-to-peer lenders. Eligibility requirements vary by lender, but for a loan this size, you’ll likely need a good credit score and a high enough income to qualify for the best rates.…
Trying to sort through all of your retirement account options can be a daunting task. You start hearing terms like 401(k) and 403(b) and IRA and all of a sudden you feel like you’re drowning in an alphabet soup of random numbers and letters all mashed together. Look, we hear you!…
Key takeaways Selling a home with a mortgage is common and generally not a problem. But first, make sure you’ll earn enough from the sale to pay back the loan. Get a payoff statement from your lender and do some research to estimate its fair market value. If your mortgage…
You know that feeling you get when you find $20 in your pocket? Imagine finding $500! And if you can find that kind of money without cutting the budget, that’s even better, right? So, what’s the trick? It’s quick and easy—all you have to do is take a look at…
Replacing a windshield can set you back hundreds of dollars. But the good news is that if you have comprehensive and collision coverage on your auto insurance policy, your out-of-pocket costs may be lower for a covered windshield claim, minus your deductible amount. Even better, the replacement cost could be…
For years, we’ve been told that going to college is part of the American Dream. That a degree is the golden ticket to a well-paying job and meaningful work. That it’s the only way for someone to avoid missing out on their full potential. But folks, the narrative is changing—and…
Have you ever been in a fender bender or at a routine traffic stop, and suddenly, you can’t remember where your insurance ID card is or when the last time you made your auto insurance payment was? That feeling happens to all of us, even if we have never missed…
If you’ve got an upside-down car loan, you’re not alone. In fact, the number of drivers who owe more on their car than it’s worth continues to go up.1 But no matter how underwater you are on your car, you can come up for air! Let’s talk about how to…
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