Personal finance

Sen. Bernie Sanders, I-Vt., speaks on raising the federal minimum wage outside the U.S. Capitol on May 4, 2023. Anna Moneymaker | Getty Images News | Getty Images The federal minimum wage of $7.25 an hour has not changed in nearly 14 years. Last week, Sen. Bernie Sanders, I-Vt., unveiled a new plan to update

Halfpoint | Istock | Getty Images As of the latest tally, 1.4 million more Americans have dropped out of college — although some “stopouts” may reenroll if the Supreme Court affirms President Joe Biden’s student loan forgiveness plan and their education debt is forgiven, a new report shows. Overall, college enrollment declines have begun to

Protestors take part in a May Day demonstration on Rennes, France, on May 1, 2023. Damien Meyer | Afp | Getty Images An increase in pension retirement age to 64 from 62 in France has sparked ongoing protests. The U.S. could be poised for a similar change with the Social Security retirement age. That shift

Amsterdam, The Netherlands. Alexander Spatari | Moment | Getty Images The following is an excerpt from “This week, your wallet,” a weekly audio show on Twitter produced by CNBC’s Personal Finance team. Listen to the latest episode here. Costs have been off the charts this year for many aspects of travel.   Why? Americans are

Hero Images | Hero Images | Getty Images Whether you’re building an emergency fund or short-term savings, finding the best place for your cash isn’t easy — especially as the Federal Reserve weighs a pause in interest rate hikes. The central bank on Wednesday unveiled another quarter percentage point interest rate increase, with signals that

Getty Images If you’re one of the millions of taxpayers who paid for TurboTax when the filing software should have been free, you may soon receive a settlement check, New York Attorney General Letitia James announced on Thursday. TurboTax owner Intuit in May 2022 agreed to pay $141 million to lower-income Americans who were “unfairly

Rawf8 | Istock | Getty Images Higher education often costs more than most families can afford. A new report by NerdWallet shows the high school class of 2023 is facing a little more than $37,000 in student loan debt to receive a college bachelor’s degree. Tuition and fees plus room and board for a four-year

Thomas_eyedesign | E+ | Getty Images This story is part of CNBC’s College Money Guide 2023, a series to help students and recent graduates understand their money and start their adult life off on a solid financial path. Buying your first car as an adult is always a little daunting. But trying to buy in

The U.S. may default on its debt within a month — an event that could threaten severe financial harm for American households and the economy at large, experts warn. To avoid that outcome, lawmakers are trying to find a path forward to raise or suspend the debt ceiling, which would enable the U.S. to pay

Holger Scheibe | The Image Bank | Getty Images A recession may be in the forecast for the U.S. economy, but the big question is when. The Federal Reserve has said the banking crisis may prompt a mild recession later this year. On Wednesday, the central bank raised interest rates by 0.25 percentage point, while

Fotostorm | E+ | Getty Images Most Americans nearing retirement expect Social Security to be their biggest source of income. Yet many of those people, ranging in age from 55 to 65, are unaware of the basics about the program, according to new research from MassMutual. About 43% of the 1,500 people surveyed do not

Fatcamera | E+ | Getty Images Now that a pandemic-era policy that guaranteed Medicaid enrollees wouldn’t be dropped from their coverage has come to an end, affected parents may be worried about how to keep their children insured. Under the Families First Coronavirus Response Act, states were required to provide continuous Medicaid coverage to enrollees in order

Some consider April 5 equal pay day for Asian American, Native Hawaiian and Pacific Islander women, marking the point into the new year that the average AAPI woman has to work to make the same pay white men earned in 2022. In other words, an AAPI woman has to work 15 months to earn what

Zeynepkaya | E+ | Getty Images It’s an especially expensive time for people with credit card debt, and the pain will likely only worsen with another expected interest rate hike coming from the Federal Reserve this week. Interest charges on credit cards tend to move with the Fed’s benchmark rate. The current national average rate

Maskot | Digitalvision | Getty Images The job market is still hot but is clearly slowing from the scorching levels seen during much of the past two years, according to labor experts. Job openings and voluntary worker departures (or, quits) declined in March, while the layoff rate increased, according to data issued Tuesday by the

Steve Prezant | The Image Bank | Getty Images May 1 is College Decision Day, the deadline many schools set for students to decide which college they will attend. One key consideration should be picking a school that doesn’t require taking on too much student debt, experts say. “Families are increasingly getting price-sensitive when choosing

Series I bonds will pay 4.3% annual interest through October, a drop from 6.89% in November amid falling inflation, the U.S. Department of the Treasury announced on Friday. There are two parts to I bond interest rates: a fixed rate that stays the same after purchase, and a variable rate, which changes every six months

In this article LC Follow your favorite stocksCREATE FREE ACCOUNT Some good news: Overall, fewer Americans are living paycheck to paycheck. As of March, the share of adults feeling stretched too thin fell to 60% from 62% in the previous month, according to a new LendingClub report. Many consumers have scaled back or picked up a

It’s never too early to start thinking about retirement. While the thought of funding your retirement adequately might be daunting, if you start planning now you’ll certainly be thankful later. It also might not be as difficult as you think. Retirement usually entails replacing your annual salary from a workplace with other income sources to

Consumers are sending mixed signals. For the most part, people are concerned about inflation and the direction of the U.S. economy. Consumer spending sank in March, according to Morning Consult. “Sticker shock” has taken a toll, the report found, with consumers more likely to walk away from a purchase because the price is too high. However, many