Personal finance

Bloomberg Creative | Bloomberg Creative Photos | Getty Images A government shutdown looms over this coming weekend. If it does occur, a shutdown would pose far-reaching and potentially severe financial risks for American households. Those risks — everything from delayed paychecks and federal benefits to long waits at airports and skeleton customer service crews at

When Jacynthe Riviere graduated from college with an accounting degree, “there were plenty of jobs,” she said — and “the big firms paid well.” The year was 1984. Riviere, now 61 and living in Puerto Rico, made roughly $18,000 in her first position as a staff auditor — the equivalent of more than $53,000 today

A student debt relief activist outside the U.S. Supreme Court on June 30, 2023. Kevin Dietsch | Getty Images Two big events could soon coincide: The U.S. federal government is poised to shut down just as student loan bills restart after a pause of more than three years. With lawmakers thus far unable to strike

A general view of the U.S. Capitol, where Congress will return Tuesday to deal with a series of spending bills before funding runs out and triggers a partial U.S. government shutdown, in Washington, D.C. Sept. 25, 2023. Jonathan Ernst | Reuters Washington lawmakers are scrambling to pass a spending bill before an Oct. 1 deadline.

Jose Luis Pelaez, Inc. | Getty Images Caregiving can require a significant investment of time and money, no matter your background, but Latino caregivers — particularly Latinas — tend to have more burdensome expenses. Lea este artículo en español aquí. It’s worth being aware of those financial effects, experts say, because caregiving is an important touchstone

Sen. Tim Scott, R-S.C., speaks to a crowd during a presidential campaign kickoff event at Charleston Southern University on May 22, 2023. The Washington Post | The Washington Post | Getty Images At a campaign event earlier this month in Fort Dodge, Iowa, Sen. Tim Scott of South Carolina said former president Ronald Reagan had it

Courtneyk | E+ | Getty Images Americans are at risk of falling short of what they may need to live on financially in retirement. One potential reason is lifestyle creep, or the tendency to upgrade your lifestyle as you earn more. An upgrade people are often tempted to make – the purchase of a second

IRS Commissioner Daniel Werfel testifies before the Senate Finance Committee on April 19, 2023. Chip Somodevilla | Getty Images Roughly one year after Congress approved tens of billions in IRS funding, the agency has unveiled plans to crack down on tax preparers with “questionable practices.” The news comes amid heightened scrutiny of a popular small

If you’re making $80,000 per year, the thought of racking up $1 million for retirement might seem daunting. But with a little dedication and the right timing, it’s likely within reach — if you stick to a clear plan. As a rule of thumb, most financial advisors suggest that you save 10% to 15% of

Getty Images If you want a good deal on airfare for the fall and winter holidays, get ready to book. “The best time to book is between today and the second week of October, as prices are low and there are a lot of seats left to book,” Hayley Berg, lead economist at Hopper, said Thursday.

Between inflation and economic instability, Americans have depleted most of what they had in their savings accounts. More than half of all Americans now live paycheck to paycheck and most adults — 57% — cannot afford a $1,000 emergency expense, a Bankrate survey from earlier this year found. Meanwhile, experts say having a cash reserve is

In this article CAMLX Follow your favorite stocksCREATE FREE ACCOUNT Ascentxmedia | Istock | Getty Images WASHINGTON — Millions of Americans look forward to claiming Social Security retirement benefits after years of paying into the program. But Social Security beneficiaries face the possibility of an across-the board benefit cut of at least 20% in the

Members of the United Auto Workers (UAW) union hold a practice picket in front of Stellantis headquarters in Auburn Hills, Michigan, on September 20, 2023.  Bill Pugliano | Getty Images Regardless of the outcome, the United Auto Workers strike threatens to cause already high car prices to escalate. After the Big Three automakers — Ford,

Bloomberg | Bloomberg | Getty Images The “summer of strikes” needs a new name — there is no sign of a slowdown in workers walking off the job this fall. Some 362,000 workers have gone on strike so far in 2023, compared with 36,600 over the same period in 2021, according to data by Johnnie

Westend61 | Getty Images By now, most student loan borrowers have accepted that, after a three-year break, their payments will restart in October. Some people, however, may actually have more time. CNBC spoke to several borrowers who say have statements from their servicer showing their first payment’s due date is in November or December. That’s

The Consumer Financial Protection Bureau headquarters in Washington, D.C., on May 14, 2021. Andrew Kelly | Reuters The Biden administration wants to remove medical debt completely from consumer credit reports, so the Consumer Financial Protection Bureau on Thursday outlined its proposed rules to keep unpaid medical bills from affecting patient’s credit scores. One in 5

In this article RDFN Follow your favorite stocksCREATE FREE ACCOUNT Twenty/20 Girls and young women want to be homeowners by the time they’re 30 — a higher priority even than getting married or earning a lot of money. About half, 52%, of young women ages 7 to 21 want a house by 30, the most

Jose Miguel Sanchez | Istock | Getty Images Federal student loan repayment is set to restart in October following a pandemic hiatus that has been in place since March 2020. Millions of Americans will be on the hook to make monthly payments on those debts, including some Social Security beneficiaries. But if those debtors fall

A sign marks the location of the University of Phoenix Chicago Campus in Schaumburg, Illinois. Getty Images The Biden administration announced on Wednesday that it would cancel nearly $37 million in student debt for more than 1,200 students who attended the University of Phoenix. The relief will go to many borrowers who applied for borrower

Thomas Barwick Life goals and other financial priorities can get in the way of saving for retirement. Long-term, those competing priorities — dubbed the “financial vortex” — may reduce U.S. workers’ retirement savings by up to 37%, according to new research from Goldman Sachs Asset Management. That’s even as more U.S. workers — 65% —