Personal finance

boonchai wedmakawand Financial scammers will likely try to steal money offered to Americans suffering from the negative economic effects of the coronavirus pandemic — and the public should be on its guard, federal officials warned on Wednesday. The White House has proposed making direct payments to American households as the coronavirus continues to wreak havoc

Americans have begun to reconsider the cash they handle every day as coronavirus spreads. Some experts have said COVID-19 could latch onto currency the same way it is able to survive on other surfaces, such as doorknobs and handrails. Credit cards, on the other hand, may not be much better. Credit cards carry more types of bacteria than

U.S. President Donald Trump speaks while flanked by Secretary of the Treasury Steven Mnuchin (R) during a briefing about the coronavirus in the press briefing room at the White House on March 17, 2020 in Washington, DC. Drew Angerer | Getty Images Taxpayers will get a three-month reprieve to pay the income taxes they owe

AndreyPopov | Getty Images Some good news – in the form of money – may be coming to Americans soon. On Tuesday, Treasury Secretary Steve Mnuchin said that the Trump administration plans to move “immediately” to send money to Americans as the coronavirus cripples the economy. “Americans need cash now,” Mnuchin said, indicating checks could

For this year’s crop of high school seniors, their freshman college year is full of unknowns. Chief among them is where they will enroll and if they will even be able to afford it in the fall. For now, National College Decision Day is set for May 1, the deadline for high school seniors to

Bettmann | Getty Images It’s natural to want to strengthen your safety net in an emergency. For many, that means having extra cash on hand, whether that’s in the bank, in your wallet or both. That’s especially relevant now, as news headlines change by the minute. Meanwhile, the Federal Reserve cutting interest rates to near

Another wrinkle for the travel industry may emerge as the novel coronavirus, or COVID-19, continues its rapid spread across the country: airline passengers who don’t have proper identification to fly domestically beginning in October. At least two states have now asked the federal government to delay the enforcement date for when travelers must comply with

Daniel Grill | Tetra Images | Getty Images The odds of slipping into a recession are increasingly likely as the global coronavirus outbreak puts acute stress on the U.S. economy. That could be bad news for American workers, who may lose jobs by the millions in a downturn. For those workers who don’t receive severance

My husband died after a short illness 13 years ago. I was brokenhearted, and my anguish seemed endless. However, I slowly emerged from my “stage 1” deep grief/numb phase of widowhood. I entered “stage 2” of widowhood — growth — when it’s time to take care of business, including money matters. The fog lifts and

Toilet paper shelves lay empty at a supermarket in Saugus, Massachusetts on March 13, 2020. Joseph Prezioso | AFP | Getty Images It’s not all in your mind. The growing panic over coronavirus is real, and fear is a rational response. What’s not a foregone conclusion is your own reaction. When markets tank, some people

Many international students are not able to come to the U.S. and that could cause a significant disruption in our college system. For years, there has been a major influx of students studying in this country, particularly from China. In fact, one-third of all the international students in the U.S. come from China — more

If the new coronavirus interferes with your already-planned trip, don’t count on your travel insurance to provide much help. Unless you have “cancel for any reason” coverage, you might be out of luck.  While some insurers have loosened their restrictions, fear of contracting the new coronavirus, or COVID-19, is not covered under a standard policy,

Hero Images | Getty Images This week’s market activity probably wasn’t the shot of confidence you were hoping for if you’re retired or planning to retire soon. And your first instinct is probably to protect your retirement income. Yet experts caution that the worst way to do that is to take dramatic actions with your

DenisTangneyJr Students at Georgetown College in Kentucky received a one-two punch of bad news this week. Amid the coronavirus, classes would be moved online until at least April and most students would need to vacate their dorms.  Oh, and they shouldn’t expect a refund.  “[T]he college is not in a financial position to offer any rebates

Democratic presidential candidate former Vice President Joe Biden reacts while giving a speech during a campaign event at Tougaloo College on March 08, 2020 in Tougaloo, Mississippi. Jonathan Bachman | Getty Images Former vice president Joe Biden’s $4 trillion tax plan would raises taxes on higher income households both in life and at death, according

Treasury Secretary Steven Mnuchin speaks with reporters outside White House in Washington, DC, on March 13, 2020. Jim Watson | AFP | Getty Images Treasury Secretary Steven Mnuchin said Friday that the Trump administration would consider suspending people’s student loan payments as part of a larger strategy to mitigate the economic consequences of the coronavirus.  “I can

Daniel Trumbower was working from home in Monrovia, Maryland, in early February when his wife called: A tornado warning had been issued for their town. Initially dubious — a tornado in Monrovia? Yeah, right — he looked outside to check the sky and saw a large, heavy-duty garbage can soaring through the air. He ran

Countries around the world are scrambling to rein in the coronavirus and understand its ultimate medical and economic impacts. One prominent business school is using the turmoil as a learning opportunity. The Wharton School at the University of Pennsylvania will soon begin offering a new course about the coronavirus — the disease that’s infected nearly 128,000

Thanagon Karaket / EyeEm | EyeEm | Getty Images As the stock market sinks, you’ve probably already heard not to check your 401(k). Yet when it comes to steering your personal financial plan in a turbulent time, it’s still wise to take a proactive approach, according to Michael Liersch, a behavioral finance expert and global

Luis Alvarez Investing is a young person’s game. I mean, I can understand the argument for ignoring short-term market dives when it’ll be decades before you need to actually touch the money. But what about retirees who need income today? Should retirees and near-retirees be cashing out of stocks on fears that a worldwide pandemic