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 Subscriptions renew automatically, outdated service plans linger, and everyday habits slowly chip away at your financial progress.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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We all know that inflation has greatly affected our purchasing power in recent years. Prices have risen an average of 22.7 percent since the beginning of 2021 and wages have grown 21.5 percent, according to Bankrate’s 2025 Wage to Inflation Index. This is a major contributor to the low consumer…
Key Takeaways October is Financial Planning Month: a reminder to take charge of your finances, review debt, and set long-term goals. Multiple debt relief options exist: including debt management plans, debt consolidation, debt settlement, and bankruptcy; each comes with benefits and risks. Nonprofit credit counseling offers safe solutions: organizations like…
Congratulations! Becoming debt-free is a game-changer. Making that last payment on credit cards, student loans or whatever debt burden you carried must have been a huge weight off your shoulders. After having paid off $300,000 of debt, I know that feeling well. But when the celebratory vibes wear off and…
Sometimes, two seemingly incongruous things can be true at the same time. For example, it’s true that U.S. homeowners have amassed an extraordinary amount of home equity these days — roughly $34.5 trillion. And according to ATTOM’s most recent home equity report, more than 47 percent of homeowners are “equity…
ANDREW CABALLERO-REYNOLDS/AFP via Getty Images Feeling the strain of making ends meet without a regular paycheck? You’re not alone. On top of the more than 7 million people who are currently unemployed, 750,000 federal employees are now on furlough and without pay due to the current government shutdown. And it…
Once you begin taking required minimum distributions (RMDs) at age 73, you must withdraw a set amount each year from your pre-tax retirement accounts. If you don’t need that money for living expenses, you can still use it productively. Many retirees choose to reinvest their RMDs in a taxable brokerage…
Image by GettyImages; Illustration by Bankrate Home equity rates ticked lower in the latest week, reaching levels not seen since 2023. The $30,000 home equity line of credit fell five basis points to 7.84 percent, according to Bankrate’s national survey of lenders. Meanwhile, the benchmark 5-year $30,000 home equity loan…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates held steady again this week, with the 30-year fixed rate averaging 6.39 percent, unchanged from 6.39 percent the previous two weeks, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago…
Even though I have enough saved for early retirement, I still worry. As someone with lifelong chronic conditions, I know all too well how healthcare costs can creep up, even when everything else seems under control. Medical debt is one of the sneakiest ways financial stress shows up in people’s…
PNC Bank is one of the largest banks operating in the U.S. It offers a full suite of retail, commercial and small-business products. PNC Bank has around 2,200 branches across 27 states and Washington, D.C. Its customers can also access nearly 60,000 in-network ATMs. PNC Bank near me You can…
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