Eakgrunge | Istock | Getty Images Less risk often means lower returns. But that’s not the case with I bonds, an inflation-protected and government-backed asset, which may soon pay an estimated 9.62%. I bonds currently offer 7.12% annual returns through April, and the rate may reach 9.62% in May based on the latest consumer price index data. Annual
Personal finance
D3sign | Moment | Getty Images Inflation has hit levels not seen in 40 years and Americans’ wallets are feeling the strain. Prices are rising on everything from energy to food to shelter, costing the average American household an additional $327 per month, according to a Moody’s Analytics analysis. That’s higher than last month’s estimate
Small changes in the price of gasoline may not seem like much. However, every 10-cent increase at the pump costs consumers overall a combined $11 billion or more over the course of a year, according to Ryan Sweet, a senior director at Moody’s Analytics. Gas prices are up nearly 50% from a year ago and
Asiavision | E+ | Getty Images If you haven’t filed your taxes because you owe money, it may be a costly mistake, financial experts say. That’s because the late filing penalty for federal taxes is 5% of your unpaid balance per month capped at 25%, whereas the late payment fee is 0.5%, said certified financial planner Larry Harris, director
A driver uses the Uber app to drop off a passenger. Chris J. Ratcliffe | Bloomberg via Getty Images When Sergio Avedian, 55, started driving full time for Uber and Lyft in 2016, he used to make $3,000 a week. “Now, it’s impossible to make that kind of money,” he said. Coming out of the
Thomas Barwick | Digitalvision | Getty Images A shortened workweek may become the reality for many employees in California. Legislation is now working its way through the state legislature that would make the standard workweek 32 hours for companies with more than 500 workers. There would be no cut in pay, and those who work
The Biden administration has grappled with ending the pause on loan payments as the economy’s recovery from pandemic lows continues. Jose M. Osorio | Tribune News Service | Getty Images The U.S. Department of Education has extended the payment pause on federal student loans for the sixth time since the pandemic began more than two
Moyo Studio | E+ | Getty Images As the coronavirus pandemic wears on and government aid sent at the beginning of the crisis runs out, Americans are feeling the impact of tight budgets. One-quarter of Americans said that they felt financially stressed all the time last year, according to a CNBC + Acorns Invest in
Luminola | E+ | Getty Images When you find yourself about a decade away from retirement, it might be time to evaluate whether that target-date fund you’ve been investing in still makes sense for you. Although these “set it and forget it” funds offer a way to put your savings on autopilot by gradually shifting
Justin Paget | Digitalvision | Getty Images The Covid-19 pandemic has increased Americans’ awareness of the need to have a will, living trust or other similar end-of-life document prepared. Yet only about 33% of Americans have put these plans in place, according to a new survey from senior living referral service Caring.com. That means that
Inflation is surging — and if it keeps up, Americans may start nixing their travel plans. Some 40% of U.S. adults said they would cancel a vacation or trip if consumer prices continue to rise, according to a new CNBC + Acorns Invest in You survey, conducted by Momentive. The online poll was taken March
Travelers booking luxury trips to Europe have not canceled amid the Ukraine war, says travel advisor Jessica Griscavage of Runway Travel. Pictured, Grignan, France. Westend61 | Westend61 | Getty Images As the Russian invasion of Ukraine continues with no end in sight, how are Americans’ European vacation plans being affected? It depends on whom you
Hinterhaus Productions | Getty Images About 7.7 million Americans count on monthly government checks through a program for low-income seniors or people with disabilities. Supplemental Security Income, or SSI, as it’s known, provided an average benefit of $569 per month as of November. One big change — updating the program’s rules around income from work
In this article TREE Anchiy Tax Day is swiftly approaching, and for most filers that means a refund is also likely on the way. This year, many taxpayers are planning to save any refunds they receive in an effort to boost their personal wealth. Some 46% of people plan to save their refunds, according to
Sen. Ron Wyden, D-Ore., speaks during a Senate Finance Committee nomination hearing on Feb. 23, 2021. Greg Nash | Pool | Reuters Americans increasingly favor a wealth tax on the ultra-rich. But despite an uptick in proposals, these policies have struggled to gain traction. President Joe Biden in March unveiled the latest federal wealth tax
bymuratdeniz | iStock | Getty Images There are 10 days until April 18, the tax deadline for most Americans, and the IRS has already sent more than 63 million refunds worth over $204 billion in total, as of April 1, the agency reported Friday. Almost one-third of Americans don’t file until the last minute, according to a
If you’re one of those procrastinators who still hasn’t filed your taxes, you’re not alone. About one-third of Americans wait until the very last minute. A survey from IPX 1031 finds the most common reason this year for the delay is the belief that if there’s no refund, there’s no rush to file. Nearly one-third
Carla Osborn, second from left, with her classmates at Clovis Community College in New Mexico. Source: Bob Dart “I didn’t want to give up, but it could have come to the point that I couldn’t afford school,” said Carla Osborn, 31, from Portales, New Mexico. Osborn is studying nursing at Clovis Community College, located in a
Willie B. Thomas | Digitalvision | Getty Images Saving for retirement is an important financial task. But what should workers do if they don’t have access to a sponsored plan, such as a 401(k), through their employer? In 2021, 28% of workers in private industry and state and local government didn’t have an employer-sponsored retirement
Recent graduates may have just gotten an extended break on their student loan payments, but college debt remains a substantial hurdle for nearly everyone with a degree. “Attending and affording college can be next to impossible without taking out a student loan, thanks to the exponential rise in college tuition,” said Bankrate.com analyst Sarah Foster.