Personal finance

Skynesher | E+ | Getty Images When it comes to financial resolutions for 2025, there’s one goal that often lands on the top of the list — paying down debt, according to a new survey from Bankrate. That’s as a majority of Americans — 89% — say they have a main financial goal for 2025,

Blank Social Security checks are run through a printer at the U.S. Treasury printing facility February 11, 2005 in Philadelphia, Pennsylvania. William Thomas Cain | Getty Images During the Senate’s final days of business in this Congressional session, it is expected to vote on a bill that would change certain Social Security rules. The bill

Ivan Pantic | E+ | Getty Images With the Federal Reserve’s recent moves to lower interest rates — and further cuts on the horizon — some federal student loan borrowers are wondering if now is a good time to refinance. “We are already seeing more borrowers tempted to refinance their federal loans,” said Betsy Mayotte,

Fcafotodigital | E+ | Getty Images If you’re eager to save more for retirement, it’s not too early to boost 401(k) plan contributions for 2025, financial experts say. For 2025, you can defer up to $23,500 into 401(k) plans, up from $23,000 in 2024. For workers age 50 and older, the 401(k) catch-up contribution remains

Alfexe | Istock | Getty Images With the Federal Reserve expected to cut interest rates again this week, it’s a great time to earn competitive returns on cash, experts say. “The best offers on savings accounts, money markets and CDs [certificates of deposit] are still well above inflation, and that’s likely to persist well into

US President Joe Biden speaks during an event in Madison, Wisconsin, US, on Monday, April 8, 2024.  Daniel Steinle | Bloomberg | Getty Images With weeks to go before President-elect Donald Trump takes office, the Biden administration is still taking steps to deliver sweeping student loan forgiveness to millions of Americans. The U.S. Department of

Tetra Images | Tetra Images | Getty Images As year-end approaches, there’s still time to slash your 2024 tax bill or boost your refund, financial advisors say.   Typically, you can expect a tax refund when you overpay taxes throughout the year. Alternatively, you get a tax bill when you haven’t paid enough. Most 2024 tax

Pixdeluxe | E+ | Getty Images As the Federal Reserve prepares to lower interest rates once again at the end of its two-day meeting this week, Americans’ assessments of the future are improving. Although a prolonged period of high inflation took a toll on household budgets, consumers are feeling increasingly optimistic about their financial situation, according to a

Cavan Images | Cavan | Getty Images Last month, Congress moved to take rare bipartisan action to change certain Social Security rules. The House of Representatives on Nov. 12 passed the Social Security Fairness Act by an overwhelming 327 to 75 majority. The proposal would eliminate rules that reduce Social Security benefits for those who

President Donald J. Trump signs the Tax Cut and Reform Bill in the Oval Office at The White House in Washington, DC on December 22, 2017. Brendan Smialowski | AFP via Getty Images There’s tax uncertainty heading into 2025 as Congress prepares to negotiate President-elect Donald Trump‘s economic agenda. But there could be lessons for

The Federal Reserve is expected to lower interest rates by another quarter point at the end of its two-day meeting on Dec. 18. That would mark the third rate cut in a row — altogether shaving a full percentage point off the federal funds rate since September. So far, the central bank has moved slowly as they recalibrate policy after

Eleganza | E+ | Getty Images If you’re considering a Roth individual retirement account conversion, your tax bracket could help you decide whether the move makes sense. Roth conversions transfer pretax or nondeductible IRA funds to a Roth IRA, which can begin tax-free growth. The trade-off is paying upfront taxes on the converted balance —

Mark Zandi, chief economist of Moody’s Analytics, testifies during the Senate Budget Committee hearing titled “The Default on America Act: Blackmail, Brinkmanship, and Billionaire Backroom Deals,” in Dirksen Building on Thursday, May 4, 2023.  Tom Williams | Cq-roll Call, Inc. | Getty Images The economy is doing “exceptionally well” as President-elect Donald Trump gets ready

A customer walks by a display of fresh eggs at a grocery store on Sept. 25, 2024 in San Anselmo, California. Justin Sullivan | Getty Images It’s déjà vu for grocery shoppers, as the price of those Grade A eggs has spiked in recent months, just two years after egg prices soared to record highs.

Andersen Ross Photography Inc | Digitalvision | Getty Images Most people believe in the value of college and, for the most part, institutions of higher education have been able to weather significant financial challenges throughout history.   But now, the number of colleges set to close in the next five years is expected to spike, a

Sdi Productions | E+ | Getty Images A number of factors can get your mortgage application denied. So-called “unverifiable income” is one of them.  Mortgage lenders want to know if you’re financially capable of paying back the loan. One way they’ll do that is by requesting documents like your federal income tax returns, W-2 and

Eclipse_images | E+ | Getty Images If you’re age 73 or older and retired, there’s a key annual deadline approaching for mandatory retirement plan withdrawals — and missing it could trigger a penalty, the IRS said on Tuesday. Generally, you must start so-called required minimum distributions by age 73. The first due date is April

An exterior view of the New York Stock Exchange on September 18, 2024 in New York City.  Stephanie Keith | Getty Images As the calendar turns to a New Year and a new presidential administration, many investors are wondering where they can earn above-average returns. The current outlook is positive, with continued interest rate cuts

David Zervos, Jefferies Scott Mlyn | CNBC The Federal Reserve is expected to cut interest rates by another quarter point at the conclusion of its two-day meeting next week. “Two years ago … three out of four economists were saying we’re going into a recession,” David Zervos, chief market strategist for Jefferies LLC, said during CNBC’s

Ljubaphoto | E+ | Getty Images If you’re in the market for a used car, the best time of the year to buy one is fast approaching. New Year’s Eve and New Year’s Day are the best days of the year to buy a used car because there are 47.9% more deals than average, according