Personal finance

US President Donald Trump speaks during the National Prayer Breakfast at the US Capitol in Washington, DC, on February 6, 2025.  Mandel Ngan | Afp | Getty Images As House Republicans look for ways to slash spending to fund President Donald Trump’s tax cuts, they’ve floated proposals that could raise federal student loan bills for
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U.S. Sen. Elizabeth Warren (D-MA) speaks to a crowd gathered in front of the U.S. Treasury Department in protest of Elon Musk and the Department of Government Efficiency on Feb. 4, 2025 in Washington, DC. Anna Rose Layden | Getty Images U.S. senators expressed concern on Friday that Elon Musk’s cost-cutting effort, the Department of
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President Donald Trump takes questions during a press conference with unseen Israel’s Prime Minister Benjamin Netanyahu in the East Room of the White House in Washington, DC, on February 4, 2025. Andrew Caballero-Reynolds | Afp | Getty Images President Donald Trump on Thursday met with Republican lawmakers to outline his tax agenda, including plans to
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Hero Images | Hero Images | Getty Images College advocates breathed a sigh of relief when the U.S. Department of Education said the Trump Administration’s “federal funding freeze“ would not affect federal Pell Grants and student loans.  Nearly 75% of all undergraduates receive some type of financial aid, according to the National Center for Education Statistics. About 40%
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Robert F. Kennedy Jr., U.S. President Trump’s nominee to be secretary of Health and Human Services, testifies before a Senate Finance Committee confirmation hearing on Capitol Hill in Washington, U.S., Jan. 29, 2025.  Evelyn Hockstein | Reuters Americans’ credit card balances soared to a record $1.17 trillion in 2024 — and even the wealthy are
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A truck drives past shipping containers at the Port of Philadelphia, Nov. 6, 2024. Bloomberg | Bloomberg | Getty Images As President Donald Trump begins imposing tariffs on imported goods, some experts question his revenue expectations — including the possibility of replacing the federal income tax.  During his presidential campaign, Trump floated an “all tariff
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D-keine | E+ | Getty Images Many taxpayers qualify for credits worth hundreds or even thousands of dollars — even if you don’t have a federal filing requirement.   Generally, you must file a tax return with earnings over a certain threshold, depending on filing status. However, submitting your return can be beneficial, even when it’s not
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By many measures, millennials are doing considerably well financially. Still, fewer younger adults are thinking about retiring in the traditional sense one day. “Retirement is becoming more deprioritized,” said Michael Liersch, head of advice and planning at Wells Fargo. “Ten or 15 years ago that was always the number one goal,” he said. Now, “actually
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Many consumers are rightfully concerned about escalating trade tensions. President Donald Trump on Saturday said he would impose 25% tariffs on goods from Mexico and Canada, and 10% tariffs on goods imported from China. He also signaled that tariffs on the European Union could be next.  While Trump has agreed to halt the implementation of tariffs against Canada for at least 30 days
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An American flag and a U.S. Department of Education flag fly outside the US Department of Education building in Washington, D.C., U.S., Feb. 1, 2025.  Annabelle Gordon | Reuters With the Trump administration looking for ways to close parts or all of the U.S. Department of Education, many of the country’s 42 million federal student
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Trump administration tariffs set to begin on February 4th would affect prices and the availability of some products at grocery stores.  Nick Lachance | Toronto Star | Getty Images President Donald Trump’s new executive order issuing tariffs on goods entering the U.S. from Canada, China and Mexico sent markets falling early Monday. By midday, the
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