Key takeaways The Federal Open Market Committee (FOMC) sets the benchmark rate, which impacts the rates auto lenders set. When the federal funds rate fluctuates, so will the cost to finance a vehicle. The Fed increased the benchmark rate 11 times between 2022 and 2023 and cut it three times…
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 December meeting, the regulatory body announced it would drop the target rate by…
Ariel Skelley / Getty Images Key takeaways Interest rates on federal student loans are set on July 1 each year for loans disbursed from July 1 to June 30 of the following year. Borrowers with existing federal student loans will not see any changes when the Fed lowers interest rates.…
Even the most carefully planned budget can develop small leaks over time. Subscriptions renew automatically, outdated service plans linger, and everyday habits slowly chip away at your financial progress. While these expenses might seem minor on their own, together they can quietly drain hundreds of dollars from your budget each…
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Last year, on the day before Tax Day, my mom was scheduled to fly into Philadelphia International Airport to stay…
The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
With Republicans ending the Grad Plus program, private lenders are eyeing billions in new business, while some students could be…
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Most people are used to seeing sales tax on a receipt, but not every purchase includes it. When it doesn’t, you may still owe tax on that purchase through what’s called a use tax. This comes up most often with online shopping, out-of-state purchases and…
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Get to Work – As Much as You Can Did you know almost half of Canada’s post-secondary students take on student loan debt?…
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For fintech startups, the first five years of the decade have been a roller-coaster ride. At the outset, companies were awash in easy…
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Key takeaways CD rates are beginning to fall as the Federal Reserve shifts toward rate cuts. Locking in competitive yields now or laddering your CDs can protect against lower future rates. Savers should also consider high-yield savings or money market accounts for more flexibility and liquidity. Certificates of deposit (CDs)…
Key takeaways Joint checking accounts let two people manage shared expenses with equal access to funds — ideal for couples, parents with teens, or adult children helping aging parents. The best joint checking accounts offer no monthly fees, competitive APYs and features like overdraft protection and mobile banking tools. Before…
Key takeaways FDIC insurance covers up to $250,000 per depositor, per bank, per ownership category — meaning a single person can protect far more than $250,000 by using different account types at the same institution. If you have $300,000 in one account, only $250,000 is protected — the remaining $50,000…
Key takeaways The best consolidation loans allow you to save money on interest, pay off debt more quickly and replace multiple debts with one new loan and payment. There are many options to consolidate debt, including balance transfer credit cards, home equity loans, debt consolidation loans and peer-to-peer loans. The…
Key takeaways Emergency loans for bad credit tend to have higher interest rates and fees than traditional loans. Payday alternative loans and credit card cash advances are emergency loan options available to most borrowers — even with imperfect credit. Payday and title loans are also options, but these are much…
An individual retirement account (IRA) is one of the most popular ways to invest for retirement. Not only are you saving for your future, but you’re also getting a generous tax advantage to do so, courtesy of the U.S. government. If you’re looking to get off to a fast start…
By Garrett Johnson BNPL loyalty programs Canada started as simple tools that let users split purchases into interest-free installments. Over time, these apps have evolved into full-fledged programs with loyalty rewards, points systems, membership tiers, and interactive features. Instead of just choosing “pay later” at checkout, users can now earn…
By Garrett Johnson BNPL loyalty programs Canada started as simple tools that let users split purchases into interest-free installments. Over time, these apps have evolved into full-fledged programs with loyalty rewards, points systems, membership tiers, and interactive features. Instead of just choosing “pay later” at checkout, users can now earn…
Key Takeaways Understand the Terms: Always read and understand the terms of any “Buy Now, Pay Later” (BNPL) service before committing, including interest rates, fees, and payment schedules. Budget Wisely: Ensure that any BNPL commitments fit comfortably within your monthly budget to avoid future stress. Educate Yourself: Use resources from…
When it comes to taxes, dependents can affect your return in ways many families don’t expect. Whether you’re claiming a young child, a college student or an aging parent, understanding how deductions and credits apply may change how much you owe or receive. From the standard deduction rules to tax…
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