Personal finance

Parents tend to splurge on their children during the holidays. This year, 63% of millennials, many of whom now have school-age children of their own, said they plan to spend the same or more on holiday shopping as they did last year — the highest share of any generation, according to a quarterly report by

Images By Tang Ming Tung | Digitalvision | Getty Images As some Americans struggle to save for retirement, key 401(k) plan changes could soon make preparing easier for certain workers, experts say.  Enacted by Congress in 2022, “Secure 2.0” ushered in sweeping changes to the U.S. retirement system, including several updates to 401(k) plans. Some

Caiaimage/Paul Bradbury | Caiaimage | Getty Images ‘Tis the season for giving … dupes? Buying a dupe — short for duplicates — rose to the top of this year’s holiday wish lists. A dupe gift is a gift that is a cheaper alternative to a more expensive, branded item. They were largely kept under the radar until

Stock traders on the floor of the New York Stock Exchange. Michael M. Santiago | Getty Images News | Getty Images Many large U.S. companies have seen their stocks swell since the presidential election. The top 10 performing stocks in the S&P 500 index saw returns of 18% or more since Election Day, according to

Matthias Ritzmann | The Image Bank | Getty Images With the Biden administration’s new student loan repayment plan is tied up in legal battles, millions of borrowers have had their monthly payments put on hold. The break from the bills is likely a relief to the many federal student loan borrowers enrolled in the Saving

Mementojpeg | Moment | Getty Images The Biden administration has forgiven a record amount of federal student debt. But in about two months, President-elect Donald Trump, a vocal critic of student loan forgiveness polices, will enter the White House. Under Trump, the U.S. Department of Education is likely to abandon its efforts to deliver wide-scale

Sporrer/Rupp | Image Source | Getty Images Most Americans are concerned about what may happen to Social Security when its retirement trust fund crosses a projected 2033 depletion date, according to a new Bankrate survey. Nearly three-quarters, 73%, of non-retired adults and 71% retired adults say they worry they won’t receive their benefits if the

Voters stand in line at a local polling station in Washington, DC, on November 5, 2024. Americans cast their ballots in the presidential race between Republican nominee former President Donald Trump and Democratic nominee Vice President Kamala Harris, as well as multiple state elections that determine the balance of power in Congress. (Photo by Nicolas

Filadendron | E+ | Getty Images Thanksgiving is a time to gather with loved ones, to show gratitude for life’s abundance — and, of course, to eat. And when it comes to Thanksgiving food, it seems Americans are getting relief on their grocery bills this year following a few years of escalating costs. A “classic”

Westend61 | Getty More than 72.5 million Americans will see a 2.5% cost-of-living adjustment in their Social Security and Supplemental Security Income checks in 2025. Before then, beneficiaries can expect to receive a notice detailing how their monthly checks will change. In December, the notices will be available online for beneficiaries who have My Social

Maskot | Digitalvision | Getty Images Prospective car buyers considering an electric vehicle may need to act fast to get a Biden-era EV tax credit worth up to $7,500, due to the likelihood that President-elect Donald Trump and Republicans on Capitol Hill will axe those savings in tax negotiations next year, according to auto and

U.S. President-elect Donald Trump speaks during a meeting with House Republicans at the Hyatt Regency hotel in Washington, D.C., on Nov. 13, 2024. Allison Robbert | Via Reuters Congressional lawmakers will soon debate expiring tax breaks and new promises from President-elect Donald Trump. Agreeing on cuts and spending, however, could be a challenge. With a

Boogich | E+ | Getty Images Lenders often encourage federal student loan borrowers to enroll in automatic payments. It can seem like a good idea to do so: Borrowers don’t need to worry about missing a payment and often get a slightly lower interest rate in exchange. However, the decision can backfire in a lending

Inflation is cooling and wages are rising. Yet, few Americans — including millionaires — feel confident about their financial standing. Across all income and asset levels, 89% of Americans said they do not consider themselves wealthy, according to Fidelity Investments’ State of Wealth Mobility study. Fidelity polled 1,900 adults in August. “Only one-tenth of Americans consider themselves

Karl-Josef Hildenbrand/Picture Alliance via Getty Images The number of older Americans who report losing more than $100,000 to fraud in a given year has more than tripled since 2020, according to the Federal Trade Commission, a trend that experts say represents a grave and growing threat to older adults’ financial security. In 2023, about 4,600

If you still haven’t booked your holiday travel plans, take note: Prices tend to rise the closer you get to the days you’re looking to travel.  To afford holiday trips, about 50% of respondents are cutting back on other expenses while 49% are picking up discounts and deals, according to the 2024 Holiday Travel Outlook

U.S. President-elect Donald Trump arrives on November 13, 2024 at Joint Base Andrews, Maryland.  Andrew Harnik | Getty Images President-elect Donald Trump‘s return to the White House is poised to have big impacts on consumer health care. Republicans may face few legislative roadblocks with their goals of reshaping health insurance in the U.S., experts said,

Baona | E+ | Getty Images Americans are determined to travel this holiday season — and certain workarounds are helping them take those trips.  The ability to work remotely is a major leg up when planning out itineraries. About 49% of employed travelers are “laptop luggers” — those who plan to work at some point

A customer visits Macy’s Herald Square store in New York City during early morning Black Friday sales, Nov. 24, 2023. Kena Betancur | Getty Images Typically, the five days beginning Thanksgiving Day and ending Cyber Monday are some of the busiest shopping days of the year. This year, the number of people shopping in stores

Voters line up to cast their ballots at a voting location in Bethlehem, Pennsylvania, on Nov. 5, 2024. Samuel Corum | Afp | Getty Images When asked, “Are you better off today than you were four years ago?” the answer for many older voters ages 50 and over was “no,” according to a new post-election