Practical Money Tricks That Lead to Real Treats Getting out of debt doesn’t happen overnight, but small, consistent actions can help you regain confidence and control. Here are a few tried-and-true strategies: Budget like a pro: Track every dollar for a month to see where your money really goes. Focus…
Key takeaways Credit unions typically offer better rates on savings and lower rates on loans compared to traditional banks. Membership is required and may have specific eligibility requirements based on location, employer or affiliation. Your deposits are federally insured up to $250,000, just like at banks, providing the same level…
Key takeaways A home equity line of credit (HELOC) on an investment property is a loan taken out against a piece of real estate that generates income or a financial return. Lenders will consider both the borrower’s creditworthiness and the property’s financials when evaluating an investment property HELOC application. These…
Key takeaways While your home’s value is determined by many factors, some home improvements could help increase its worth. There are multiple ways to pay for upgrades, including cash-out refinancing, a home equity loan or home improvement loan. If you plan to sell your home, it’s important to determine not…
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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,…
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Images by GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways A debt consolidation loan replaces multiple streams of debt with one new loan at a fixed rate and monthly payment. A personal loan for debt consolidation is typically a fast and simple way to consolidate all…
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The decision of which debt to start paying off first is a personal one, but starting with high-interest debt is generally considered the…
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Lawrence Golub, billionaire founder and CEO of private credit firm Golub Capital, emphatically dismissed fears that the rapid growth of private credit, specifically…
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Getty Images / Win McNamee / Staff Key takeaways The Federal Reserve’s September rate cut is likely the beginning of lower yields on CDs and other deposit accounts. Locking in a CD now can secure today’s higher rates, which are still outpacing inflation. Don’t rush to put money into a…
Bloomberg Creative/Getty Images Key takeaways The federal funds rate impacts how expensive it is for lenders to loan money, so consumer loan rates typically change when the federal funds rate changes. During the Federal Open Market Committee’s July meeting, the regulatory body announced it would hold the federal funds target…
Image by GettyImages; Illustration by Bankrate A split decision for home equity rates, as the Federal Reserve delivered an expected quarter-point interest rate cut, the first rate reduction this year. The average rate on a $30,000 home equity line of credit fell five basis points to 8.05 percent, according to…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates fell this week, with the 30-year fixed rate averaging 6.30 percent, compared to 6.38 percent the previous week, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago 52-week average 52-week…
A 403(b) plan is common in public schools, nonprofits and religious groups. It is a defined contribution plan where employees add money to a pre-tax or Roth account. The money is usually invested in mutual funds or annuities. Growth depends on contributions, investment performance, fees and time. Some employers may…
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…
We’re heading into the final months of the year, which makes this the ideal time to lower your 2025 tax bill. Financial moves you make before year-end can reduce your taxable income, trim what you owe the IRS and put more money back in your pocket come tax-filing season. Here…
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