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Here’s the latest personal finance news, how it may impact your financial plan and what you can do to maintain your financial well-being. Buy Now, Pay Later Services Must Comply With U.S. Credit Card Laws The Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule classifying buy now, pay later (BNPL) services as credit […]
The Latest Personal Finance News for June 2024 Read More »
Here’s the latest personal finance news, how it may impact your financial plan and what you can do to maintain your financial well-being. The First Wave of Forgiveness for SAVE Plan Borrowers Is Happening In late February, the U.S. Department of Education announced the first wave of forgiveness for eligible federal loan borrowers who have
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Here’s the latest personal finance news, how it may impact your financial plan and what you can do to maintain your financial well-being. Mortgage Rates Tumble After Hitting 8% In October, mortgage rates made a brief stop at 8%, the highest since 2000. Since then, they’ve dropped sharply, according to Mortgage News Daily. Reasons for
The Latest Personal Finance News for December 2023 Read More »
Here’s the latest personal finance news, how it may impact your financial plan and what you can do to maintain your financial well-being. Federal Reserve Expects a Bumpy Path Toward Its Inflation Goal The inflation rate has dropped significantly since it peaked in June 2022, but it still remains high. In October, the Bureau of
The Latest Personal Finance News for November 2023 Read More »
Here’s the latest personal finance news, how it may impact your financial plan and what you can do to maintain your financial well-being. Interest Rates Are Expected to Stay High In its September meeting, the Federal Reserve Open Market Committee (FOMC) declined to hike its interest rate again. But in August, the core inflation rate,
The Latest Personal Finance News for October 2023 Read More »
Here’s the latest personal finance news, how it may impact your financial plan and what you can do to maintain your financial well-being. U.S. Credit Card Debt Reaches $1 Trillion for the First Time According to data from the Federal Reserve Bank of New York for the second quarter of 2023, Americans owe more than
The Latest Personal Finance News for September 2023 Read More »
Here’s what’s happening in the personal finance space this month, how it might impact you and what you can do about it. Inflation Rate Hits Its Lowest Level in Nearly Two Years In April, the Bureau of Labor Statistics (BLS) reported an increase in prices of just 0.1% for all items in the consumer price
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Inflation is putting financial pressure on U.S. households. Consumers are now paying 6% more for goods and services than they were in March 2022, according to the U.S. Bureau of Labor Statistics. While that’s down from last year’s highs, which were the highest rates seen since the 1980s, inflation still remains steep. This persistent hike
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Here’s what’s happening in the personal finance space this month, how it might impact you and what you can do about it. Credit Card Debt and Interest Rates Are at an All-Time High Bouncing back from a steep decline at the beginning of the pandemic, credit card debt has reached an all-time high, according to
The Latest Personal Finance News for March 2023 Read More »
As the cost of living surges due to inflation, getting a second job may be an option you’re considering to help you cover rising expenses. You wouldn’t be alone, either: Nearly 4 in 10 (38%) of surveyed workers have started seeking a second job, and 14% plan to start soon, according to a Qualtrics study.
Should You Get a Second Job to Cover the Cost of Inflation? Read More »
If you’re feeling like grocery prices have inched up seemingly overnight, you’re not alone. The last time grocery costs spiked this much was in 1980, when the U.S. was coming off more than a decade of rising prices in the wake of higher government borrowing and spending spurred by World War II and the Vietnam
How Grocery Purchasing Power Has Changed in the U.S. Read More »
Inflation is when the prices for goods and services gradually rise, which in turn means your money won’t go as far to cover your expenses. Like most Americans in 2022, you’ve likely felt the sting of inflation when paying for gas, groceries and other goods and services. And if you use credit cards to make
How Does Inflation Impact My Credit Card Debt? Read More »
Inflation reached a 40-year high in June, and the light at the end of the tunnel remains out of view. The result is that many everyday goods and services, including back-to-school items like clothing and supplies, have gotten more expensive. While you may still need to buy these necessities, it’s possible to combat rising costs
How Inflation Impacts Your Back-to-School Costs Read More »
From September 2020 to September 2021, total mortgage debt grew by 7.6% to reach $10.3 trillion, according to Experian data. Mortgage balances are by far the largest component of American consumer debt, comprising more than two-thirds of the collective $15.3 trillion in debt Americans carry. As illustrated in Experian’s recent 2021 consumer debt review, the
Total Mortgage Debt Increases to $10.3 Trillion in 2021 Read More »
In an effort to combat inflation, the Federal Reserve has raised interest rates by a quarter point to a range of between .25% and .5%. This interest rate hike, the first since 2018, is one of seven planned interest rate increases in 2022. So what does that actually mean for your finances? Let’s take a
Here’s What You Need to Know About Interest Rates Going Up Read More »
You may have noticed that you’re spending a little more than you usually do at the grocery store. That slight uptick in prices can be explained by inflation. Inflation is the rate at which prices for goods and services increase over a period of time. One way inflation is measured is with something called the
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You may have heard some talk about inflation recently – or maybe you just took a look at used car prices. Either way, there’s no denying the fact that inflation is becoming a hot topic around the country. But is all this concern over inflation justified? If so, what’s causing it? More importantly, what can
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