Personal finance

David Sachs | The Image Bank | Getty Images It’s no secret that the first half of 2022 has ushered in a lot of expensive changes for consumers: The S&P 500 Index fell 20.6% in the largest first half decline since 1970, pulling down investors’ portfolios with it. The Federal Reserve in June approved a

Pollyana Ventura | Istock | Getty Images The expanded child tax credit, and monthly payments that came with it, expired last year. But eligible Puerto Rico residents can still claim the sums of up to $3,600 per child. Now, Code for America, a non-profit tech organization, is making it possible for Puerto Rico residents to

Beyond highlighting the overwhelming burden of student loan debt, the last few years of economic turmoil have also shed light on the sky-high cost of college. “Sometimes students feel the sense of ‘My parents are going to make it work,'” said Jennifer Finetti, director of student advocacy at ScholarshipOwl. “I think a lot of students don’t

Morsa Images | DigitalVision | Getty Images For some retirees, there’s an extra cost associated with Medicare premiums that can ambush their household budgets. Most Medicare enrollees pay the standard premium amounts for Part B (outpatient care) and Part D (prescription drugs). Yet an estimated 7% of Medicare’s 64.3 million beneficiaries end up paying extra

Momo Productions | Digitalvision | Getty Images The pandemic-era surge in remote work may be an unlikely ally in the fight to tame stubbornly high inflation. As many employees have enjoyed commute-free workdays, less stress and better work-life balance, their employers have also benefited from remote work by paying lower wages than they otherwise might,

An activist holds a placard demanding a $15 an hour minimum wage and tips for restaurant workers during a rally to call for additional relief for restaurants in Washington, D.C., on Feb. 8, 2022. Mandel Ngan | AFP | Getty Images Record high inflation has pushed the value of the federal minimum wage down to

Westend61 | Westend61 | Getty Images The job market is still hot, but that won’t last forever. In fact, there have already been some signs of a shift, according to John P. Morgan, president of talent development and transition firm Lee Hecht Harrison. To be sure, the most recent data shows strong job growth in

In this article WTW Superb Images | The Image Bank | Getty Images In another sign of a tight labor market, U.S. companies plan to give workers their largest pay increase in 15 years in 2023, with an average bump of 4.1%. That’s the finding from a new survey by Willis Towers Watson, a compensation

A person shops for groceries on March 10, 2022 in the Prospect Lefferts Garden neighborhood of Brooklyn. Michael M. Santiago | Getty Images News | Getty Images Inflation hit a new 40-year high in June, and policymakers are working feverishly to tame it — perhaps even risking recession to do so.   Jerome Powell, chair

Kevin Dietsch | Getty Images Social Security beneficiaries will be in line to receive a record high cost-of-living adjustment in 2023 due to inflation. The question is exactly how high it may be. Based on new consumer price index data for June released Wednesday, The Senior Citizens League, a nonpartisan senior group, now estimates the

Grocery shopping in Rosemead, California on April 21, 2022. Frederic J. Brown | Afp | Getty Images Inflation jumped to a new 40-year high in June, the U.S. Bureau of Labor Statistics reported Wednesday. That means the prices Americans pay at the gas pump, grocery store and elsewhere have been rising much faster than normal this year. That

Getty Images Inflation has continued to rise, but some retirees won’t feel the brunt of many soaring costs, experts say. Annual inflation jumped by 9.1% in June, growing at the fastest pace since late 1981, the U.S. Department of Labor reported on Wednesday. Higher prices have many worried, even those earning six figures. Some 65%

Saul Loeb | AFP | Getty Images If you’re a prospective homebuyer who is having second thoughts, you’re not alone. About 15% of all home contracts fell through in June, marking the highest share of cancellations since March 2020 — the start of the pandemic — when it was 17.6%, according to real estate brokerage

Woman on her back pushing shopping cart in supermarket aisle David Espejo | Getty Images Experts are weighing the odds as to how likely a recession is and how fast it could come upon us. Most Americans — 70% — already believe an economic downturn is on its way, according to a new survey from

David Ryder | Getty Images After staggering growth during the pandemic, the U.S. housing Boismarket is starting to cool — and it’s happening fastest along the West Coast. The quickest-cooling real estate market is San Jose, California, according to a new Redfin analysis, which ranked U.S. metropolitan markets based on median sales prices, year-over-year inventory

A customer reaches down to pick up a bottle of water from a street vendor in Paris on June 17, 2022. Stefano Rellandini | Afp | Getty Images The value of the euro relative to the U.S. dollar has sunk near a two-decade low — and that’s good news for Americans traveling to Europe this

A customer shops for meat at a Target store on June 08, 2022 in San Rafael, California. Justin Sullivan | Getty Images News | Getty Images Inflation is a real worry for many Americans — even those who earn six figures — and it’s impacting decisions about how they spend their money. Fully 96% of

Skynesher | E+ | Getty Images If you’re among the millions of workers who have left their job as part of the so-called Great Resignation that’s still rumbling through the labor market, be sure not to neglect your 401(k). While you may have options for how to handle retirement savings in your ex-employer’s plan, there

Getty Images The demand for Series I bonds, an inflation-protected and nearly risk-free asset, has skyrocketed as investors seek refuge from soaring prices and stock market volatility. While annual inflation rose by 8.6% in May — the highest rate in more than four decades, according to the U.S. Department of Labor — I bonds are

Spxchrome | E+ | Getty Images Your company is switching its 401(k) provider. What should you do? At a high level, what this means is your employer chose a new firm to administer and keep records for its company-sponsored retirement plan. These firms track details for employees like total savings, contributions, trades, investments, holdings and