The job market has historically been one of the biggest predictors of consumer spending and debt patterns. While the unemployment rate has risen from 3.4 percent last April to 4.2 percent at present, that’s still low, historically speaking. The 3.4 percent reading last spring was the lowest level since 1969.…
Key takeaways Interest rate caps are controlled at the state level by usury laws, but those laws have a long list of exemptions. Credit card companies and banks are often exempt from state usury laws, meaning there are no maximum credit card interest rates at the state level. Due to…
Intel (INTC) and Taiwan Semiconductor (TSM) have agreed to a joint venture, according to reports. The two chip giants will form a joint venture in the U.S. that will leverage Intel’s American foundry and Taiwan Semi’s expertise to produce advanced chips. For its contribution, Taiwan Semi would take a 20…
Tariff worries have been looming for small business owners across the United States, with import taxes promising price increases, shortages and supply chain snarls for business owners who rely on global trade for their equipment, inventory and restaurant ingredients. President Donald Trump announced a slew of tariffs in early April,…
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While there has been much conversation on not buying from companies with poor diversity, little has been said about investing…
Lifestyle inflation occurs when your expenses increase as you earn more income. It can start subtly—dining at pricier restaurants, upgrading…
Chime, the largest digital bank in America, grew its revenue to $1.7 billion in 2024, an increase of roughly 30%…
Technology has transformed some parts of the daunting homebuying process–making it easier to search and compare properties online, to prepare…
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Image by Getty Images; Illustration by Bankrate After years of high auto theft rates, the latest report from the National Insurance Crime Bureau (NICB) shows a surprising turn of events — vehicle theft rates dropped by 17 percent in 2024. This decrease finally puts car theft…
Dept Managmnt
Budgeting and Building an Emergency Fund for Rising Costs If rising costs are stressing you out, you may require adjustments to your budget…
Banking
Apple, FedEx and Oracle all got loans guaranteed by the Small Business Administration. But rules and red tape keep many banks from making…
Credit Cards
Key takeaways Adding authorized users to your business credit card account can make it easier for you to complete purchases and earn rewards…
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Key takeaways Seasoning, for mortgage-related purposes, refers to the amount of time you’ve had funds in your bank account — specifically, the money to cover the down payment and closing costs. For mortgages, money becomes “seasoned” after it’s been in an established account from 60 to 90 days. Seasoning requirements…
Key takeaways You can refinance a home equity and, with rates currently in decline, now might be a good time to do it. Refinancing a home equity loan can lower monthly payments and lengthen or shorten your loan term. Drawbacks to refinancing a home equity loan include prepayment penalties…
Key takeaways Wire transfers cost more but provide familiar bank security. Crypto moves faster and costs less but requires some technical know-how. Bank fees often hit you twice — when sending and receiving. Crypto platforms charge one transaction fee, usually under $5. Bank wire transfers used to be the only…
Key takeaways Money stored in payment apps often lacks federal deposit insurance protection. Basic security practices significantly reduce the risks of fraud or theft. Apps earn interest on user balances while paying nothing to customers. Different apps serve different needs — personal, business or international use. Peer-to-peer payment apps have…
Cryptocurrency has long been associated with frauds and outright scams, dating back to at least the massive loss of Bitcoin from the Mt. Gox crypto exchange in 2014. In many ways, crypto is an ideal vehicle to commit fraud because of its broad adoption by criminals, the anonymity of transactions…
Currency exchange is a common necessity for travelers, international shoppers and anyone conducting business overseas. However, exchanging currency isn’t free. It usually involves an exchange rate and other fees. Excessive fees can significantly impact how much money you receive, making it essential to know where and how to exchange currency…
SimpleImages/Getty Images Key takeaways Fiat money is a government-created currency, usually issued by its central bank, and isn’t backed by a tangible commodity, like a precious metal. Unlike commodity-backed money, fiat money isn’t intrinsically valuable; its worth is determined by supply and demand and the issuing government’s credibility. Most countries…
Key takeaways Most banks offer free coin exchange services to account holders, though you may need to roll coins yourself. Self-service coin-counting machines are more commonly found at local banks and credit unions than at national banks. Coinstar offers convenient coin exchange but charges steep fees unless you opt for…
Key takeaways Receipt-scanning apps scan and save paper documents like receipts to your phone or computer. Digitizing your receipts and other documents allows you to track financial data and file away important information for tax season and may even offer cash-back rewards. Some receipt apps track and sell your data,…
Understanding Gen Z’s Financial Health Gen Z—Americans born between 1997 and 2006—is entering adulthood at a challenging financial moment. With inflation, student loan pressures, and rising housing costs, it’s no surprise that many are feeling overwhelmed. But there’s good news: Gen Z is taking an active interest in managing…
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