Personal finance

Nora Carol Photography | Moment | Getty Images This is the time of year for making — and breaking — resolutions. With high inflation, rising interest rates, and economic uncertainty, two-thirds of American adults are making resolutions to improve their finances this year, according to a survey by Fidelity. Some of the most common include

Some types of debt can haunt you. “Buy now, pay later” loans, especially, can be hard to track, making it easier for more consumers to get in over their heads, some experts say — even more than credit cards, which are simpler to account for, despite sky-high interest rates. Over the holidays, the use of installment

Rohit Chopra, director of the Consumer Financial Protection Bureau, speaks during a Senate Banking, Housing, and Urban Affairs Committee hearing in Washington, D.C., Dec. 15, 2022. Ting Shen | Bloomberg | Getty Images When student loan servicers make errors by cutting corners or sidestepping the law, it can “pose serious risks to individuals and the

Ezra Bailey | The Image Bank | Getty Images Workers are poised to get smaller raises in 2024 — and their annual pay bumps are unlikely to increase again anytime soon amid a cooler job market, labor experts said. U.S. companies plan to give salary increases of 4%, on average, this year, down from 4.4%

Boy_anupong | Moment | Getty Images After higher yields in 2023, investors are bracing for interest rate cuts that could put a damper on shorter-term savings. Federal Reserve officials expect three quarter-percentage-point cuts in 2024, according to December meeting minutes released Wednesday. But there’s lingering uncertainty over when, or if, those changes may occur. More

Ryanjlane | E+ | Getty Images As the new year kicks off, some workers could see a slightly bigger paycheck due to tax bracket changes from the IRS. The IRS in November unveiled the federal income tax brackets for 2024, with earnings thresholds for each tier adjusting by about 5.4% higher for inflation. While it’s

Tanya Constantine | Getty Images Once you start Social Security retirement benefits, you are generally guaranteed to receive monthly checks for life. But that will stop once you die — with some exceptions for your loved ones. A one-time lump-sum death payment of $255 may be available, provided your survivors meet certain requirements. For example,

South_agency | E+ | Getty Images Many people have a 401(k) plan and other retirement savings that may provide funds after they stop working, but there’s no denying it: The Social Security benefit is an important part of the retirement income stream as people enter the next chapter of their lives. However, there is much

Harvard University President Claudine Gay’s resignation Tuesday is just the latest upheaval at one of the nation’s top colleges. For college applicants, the move adds more uncertainty to an admissions process that was already shifting in the wake of the Supreme Court‘s ruling against affirmative action. “I don’t expect Harvard to lose its crown as one of

Klaus Vedfelt | Getty Images To live your best life in retirement, it helps to make the most contributions while you’re working. Employees who participate in 401(k) plans can put up to $23,000 in pre-tax or post-tax Roth contributions in 2024. But there’s another limit — $69,000, including employee and employer contributions — that may

Maskot | Maskot | Getty Images U.S. Department of Labor data issued Wednesday suggests a two-tiered job market has emerged, in which workers enjoy strong job security while the unemployed may have trouble finding a new gig. “There’s a bifurcated labor market,” said Julia Pollak, chief economist at ZipRecruiter. “There are haves and have nots.”

Mark Edward Atkinson | Tetra Images | Getty Images Beneficiaries who rely on monthly checks from the Social Security Administration will get a 3.2% benefit increase now that the calendar has turned to 2024. Those who receive Supplemental Security Income, or SSI, are first in line to receive those enhanced benefit checks. About 7.5 million

Nancy Ney | Photodisc | Getty Images The new year has ushered in a big change to 529 college savings plans, which has made the accounts more attractive to some investors. But the adjustment may have unexpected downsides, experts say. Starting in 2024, families can roll unused 529 plan funds to the account beneficiary’s Roth

A new Free Application for Federal Student Aid soft launched over the holiday weekend with much anticipation after a long delay. However, for now, the 2024–25 FAFSA form is only available for short periods of time as the U.S. Department of Education works to “resolve minor issues,” according to a department spokesperson. This soft launch period

U.S. President Joe Biden speaks on the student debt relief plan as Secretary of Education Miguel Cardona (R) listens in the South Court Auditorium at the Eisenhower Executive Office Building on October 17, 2022 in Washington, DC. Alex Wong | Getty Images After the Biden administration’s gigantic setback at the Supreme Court over its sweeping

Adamkaz | E+ | Getty Images If you’re a retiree who relies on Social Security benefits for income, you will see some changes in 2024. You will get a benefit boost to adjust for inflation. But just how much extra money you see will depend on the size of your Medicare Part B premiums and

A simplified Free Application for Federal Student Aid is finally online after a significant delay. However, as part of a “soft launch,” the new FAFSA form has only been periodically available. It’s likely few, if any, of the millions of students applying to college for the 2024-25 academic year have been able to successfully submit an application,

Tom Werner | Digitalvision | Getty Images If you left behind a small 401(k) plan account at a former job, odds are your former employer has moved those funds out of the plan. And that move may hurt your retirement savings over the long term, experts say. Current law allows employers to “force out” 401(k)

Rear view of woman sitting on top of mountain against cloudy sky during sunrise. Simonkr | E+ | Getty Images It was a very good year for the stock market. The benchmark S&P 500 ended the year with a 24.2% gain, the Dow Jones Industrial Average rose more than a 13% this year and and the Nasdaq

What begins as a gender wage gap inevitably becomes a significant shortfall by retirement. In the U.S., women who work full time are typically paid about 80 cents for every dollar paid to their male counterparts. That gap has persisted despite women’s increasing levels of education and representation in senior leadership positions. Women are also still more