Personal finance

Secretary of Education Dr. Miguel Cardona answers questions during the daily briefing at the White House August 5, 2021 in Washington, DC. Win McNamee | Getty Images The U.S. Department of Education announced Wednesday a host of major changes to the public service loan forgiveness program, which could bring more than 550,000 borrowers closer to

Elizabeth Frantz | Reuters Two years after Congress passed a law that ushered in improvements to the U.S. retirement system, lawmakers’ efforts to make further enhancements are moving forward — albeit slowly. There’s bipartisan backing for measures in both the House and Senate that would build on the 2019 Secure Act, which aimed to increase

Advocate JoAnna Vance joins families, parents and caregivers at Capitol Hill to call on Congress to include paid family and medical leave in the Build Back Better legislative package on Nov. 2, 2021. Paul Morigi | Getty Images Entertainment | Getty Images Hopes for a federal paid family and medical leave program have dimmed after

Sen. Joe Manchin, D-W.Va., walks outside of the Senate Chamber on Capitol Hill on Dec. 9, 2021. Kent Nishimura | Los Angeles Times | Getty Images The “backdoor Roth” tax strategy used largely by wealthy retirement savers and slated to be killed next year has survived — for now. The loophole lets rich 401(k) and

JaruekChairak | iStock | Getty Images Amid all the worrisome news about the omicron variant, there one’s good development: Soon most Americans should be able to pick up at-home Covid tests for free. The Biden administration said earlier this month that those with private health insurance can request reimbursement from their plans for these takeaway

Bloomberg | Bloomberg | Getty Images It looks like it’s going to be another competitive year for homebuyers in 2022. While the market isn’t expected to be as frenzied as this past summer, prices are still predicted to rise. Zillow is forecasting 11% home value growth in 2022, down from a projected 19.5% in 2021.

Westend61 | Westend61 | Getty Images One of the most coveted holiday gifts of the year might be unexpected. Some 65% of Americans want financial investments such as stocks and cryptocurrency as gifts this year, according to a recent survey of more than 2,000 adults from MagnifyMoney. In addition, about one-quarter of those surveyed said

Getty Images Without the child tax credit, Stormy Johnson is worried about having enough to eat. Johnson, 44, works as a student support specialist in Preston County Schools in Kingwood, West Virginia. Since July, she’s been receiving an additional $500 each month through the enhanced child tax credit for her two children, Violet, 14, and

Heading into 2022, many workers are ready for a change. But you don’t have to join the “Great Resignation” and quit to shake things up. You may be able to give your old job a new look with a few small tweaks. As return-to-office plans are pushed back once again with the rise of the

Getty Images While household debt reached a record $17 trillion in the second quarter of 2021, many American households have felt less financial stress this year thanks to Covid-19-related government policies. That’s according to the federal Financial Stability Oversight Council, which released its annual report for 2021 on Friday. The council was created by legislation

Pedestrians stand in line at a Covid-19 mobile testing site at Columbus Circle in New York, on Dec. 5, 2021. Jeenah Moon/Bloomberg via Getty Images Covid cases are spiking in some parts of the U.S., and the highly contagious omicron variant is expected to fuel another virus wave headed into winter. In New York, some

In this article GSBD damircudic | E+ | Getty Images Working Americans rank credit card debt as one of the top challenges to their ability to save for retirement. That’s the finding in a new surveyconducted over the summer by Goldman Sachs that included more than 1,200 people. Melinda Opperman, president and chief relationship officer

The Consumer Financial Protection Bureau said Thursday it is opening an inquiry into popular “buy now, pay later” programs. The financial watchdog said it is particularly concerned about how BNPL impacts consumer debt accumulation, as well as what consumer protection laws apply and how the payment providers harvest data. “Buy now, pay later is the

A Social Security Administration office in Sebring, Florida. Jeff Greenberg | Universal Images Group | Getty Images Applying for Social Security benefits can be a complicated process. Now President Joe Biden wants to make it easier. This week, the president signed an executive order to streamline processes for Americans to apply for services and benefits

mphillips007 | iStock Unreleased | Getty Images If some holiday magic makes you a Powerball or Mega Millions jackpot winner this weekend, don’t forget Uncle Sam will be celebrating alongside you. After no ticket matched all six numbers drawn Wednesday in Powerball, the jackpot has jumped to $353 million for Saturday night’s drawing. For Mega

In this article COLM CLBK The days of rock-bottom rates are nearly over. The central bank will aggressively unwind last year’s bond buying sooner than originally planned after recent reports on inflation continued to show a sharp rise in prices. While the Federal Reserve said Wednesday that interest rates will stay near zero for now,

ljubaphoto | E+ | Getty Images The Covid-19 pandemic exacerbated many differences between haves and have-nots in the U.S. Now, a new survey shows that it also made the savings gap more pronounced between those groups. Of those with incomes less than $50,000, 36% say they now have less savings than before the pandemic, versus

mixetto | E+ | Getty Images The tax season is fast approaching — and the IRS has its eye on crypto investors.   Form 1040, which U.S. taxpayers use to file an annual income tax return, has a question about “virtual currency” near the top of the first page. Investors must report taxable 2021 transactions

Tetra Images | Getty Images Thousands of taxpayers may still be waiting for a tax refund on unemployment benefits collected during the Covid pandemic, as the IRS grapples with a backlog of tax returns. The American Rescue Plan Act, a pandemic relief law, waived federal tax on up to $10,200 of unemployment benefits a person

Liu Guanguan | China News Service | Getty Images News that inflation rose to a historic high in November probably comes as no surprise to retirees. But they may be in for another shock when they receive their monthly Social Security checks in January. The Social Security Administration announced in October that beneficiaries will get