Personal finance

Djelics | E+ | Getty Images Richelle Brooks’ budget is already tight. She doesn’t know what she’s going to do when federal student loan payments resume in the fall. The single mother of two has seen all her expenses rise over the last few years amid high inflation. “I go grocery shopping and spend $300

Pixdeluxe | E+ | Getty Images Retirement savers who withdrew money from their accounts in the early days of the Covid-19 pandemic may have just days or weeks left to repay those funds and reap the tax benefits. The CARES Act — a federal relief law passed in March 2020 — allowed savers to pull

baona | Getty Images The rate of inflation has shown signs of easing, following the highest spike in four decades. Yet the shock of rising prices continues to have an impact on consumers’ psyches. “The typical U.S. consumer is looking at the gas station or their grocery store and seeing prices elevated and not coming

File photo of graduates of Baruch College participate in a commencement program at Barclays Center, Monday, June 5, 2017, in the Brooklyn borough of New York. Bebeto Matthews | AP In the days ahead, 125,000 graduating high school seniors will receive automatic acceptance letters from the State University of New York, Governor Kathy Hochul announced

The Senate voted to repeal President Joe Biden’s student loan forgiveness plan on June 1, 2023. Biden —pictured here with U.S. Secretary of Education Miguel Cardona in October  — is expected to veto the bill. Getty Images | Bloomberg A GOP-led effort to overturn President Joe Biden’s sweeping student loan forgiveness plan passed the Senate

dowell | Moment | Getty Images Treasury bill yields have climbed over the past few months, with one-month to one-year terms currently topping 5%, as of June 1. However, there are a few things for everyday investors to know about the Treasury bill purchase process, according to financial experts. Treasury bills, or T-bills, have terms

Fizkes | Istock | Getty Images Stubborn inflation has driven households near the breaking point, but the pain of high prices has not been shared equally. By most measures, low-income households have been hardest hit, experts say. The lowest-paid workers spend more of their income on necessities such as food, rent and gas, categories that also

Halfpoint Images | Moment | Getty Images Americans’ confidence they can live comfortably in retirement has dropped the most since the global financial crisis in 2008, according to a recent report from the Employee Benefit Research Institute and Greenwald Research. One reason is high inflation, which has reduced both workers’ and retirees’ belief that their

Djelics | E+ | Getty Images During the past year, the rate at which Americans quit their jobs has steadily declined from a record high back to pre-pandemic levels — seeming to spell the end of the labor market trend that came to be known as the “great resignation,” labor economists said. The “quits rate”

US House Speaker Kevin McCarthy, a Republican from California, arrives to the US Capitol in Washington, DC, on Wednesday, May 31, 2023. Sarah Silbiger | Bloomberg | Getty Images A measure in the debt ceiling deal terminating the student loan payment pause is facing heavy opposition from advocates, progressives and borrowers. “The pause on student

Anadolu Agency | Anadolu Agency | Getty Images Federal student loan borrowers hoping for another extension of the pandemic-era payment pause received bad news in the the tentative deal between Republican lawmakers and President Joe Biden to suspend the debt ceiling and avoid default. According to the legislative text of the agreement, the pause on

Visitors at the U.S. Capitol in Washington, D.C., on May 24, 2023. Jonathan Ernst | Reuters A tentative deal to raise the debt ceiling limit includes up to $21.4 billion of IRS budget cuts, slashing part of the nearly $80 billion in agency funding enacted last August to boost taxpayer service, technology and enforcement.   The

Miniseries | E+ | Getty Images Americans have suffered in “declines in overall financial well-being,” according to a new annual Federal Reserve report on economic well-being of U.S. households released last week. Only 63% of all adults can cover an unexpected $400 expense, the report on 2022 found, down from a high of about 68%

These days, many people are worried about paying for college. Less than half of Americans are confident that they’re currently saving enough for future education expenses, according to a recent report by Edward Jones. Checking your 529 college savings balance may not provide much comfort, either. Last year, these popular savings plans took a hit

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Yellow Dog Productions | Getty Images With less than a week before the U.S. government faces a possible debt default, many are bracing for the economic fallout — and advisors have tips for nervous investors. Negotiations to raise the debt ceiling intensified between the White House and congressional Republicans on Thursday after a stark warning from

As a growing contingent of Americans feel priced out of a college education, tuition assistance may be the most valuable incentive companies are using to attract and keep workers. In the last few years, more businesses have added or expanded benefit offerings of free college programs. Not only does free or discounted higher education improve

Skynesher | E+ | Getty Images The pandemic-era policy suspending federal student loan payments has been an especially big win for public servants. Most borrowers have benefited from the payment pause, which has lasted more than three years and spanned two presidencies. But for those pursuing the popular Public Service Loan Forgiveness program, the policy

In this article LC Follow your favorite stocksCREATE FREE ACCOUNT Even as inflation cools, consumers still show signs of strain. As of April, the share of adults feeling stretched too thin held nearly steady at 61%, according to a new LendingClub report. However, high-income earners are increasingly under pressure, LendingClub found. Of those earning more than

Getty | mihailomilovanovic The federal debt-ceiling standoff and the specter of a possible recession on the horizon may mean turbulent times ahead for the stock market — and that’s especially worrisome for retirees who rely on their investment portfolios for income. Retirees are generally advised to hold some stocks as part of their nest egg.