Personal finance

More than 4 million new college graduates will head out into the world this month, but it could be years before they pay their own own way. Most people feel like a grownup by the time they’re 18 — and certainly once they have a college degree — but many young adults do not become

In this article EOCW Follow your favorite stocksCREATE FREE ACCOUNT Even as inflation shows signs of cooling, some investors may be fearing the worst about a potential looming economic downturn. A recent survey from Nationwide finds more than two-thirds of respondents — 68% — expect a recession within the next six months. Meanwhile, 62% of

Getty The annual contribution limit for health savings accounts, or HSAs, will soon get a sizable boost due to inflation, the IRS announced this week. For 2024, the yearly limit for self-only HSA plans is rising to $4,150 from $3,850 in 2023, and the cap for family plans is jumping to $8,300 from $7,750. The catch-up

JGI | Blend Images | Getty Images The IRS is preparing to test a free online direct filing system for some taxpayers — and while pre-populated returns with certain details already filled in aren’t part of the initial plan, research shows it may be possible for certain filers. As directed by the U.S. Department of

Sen. Kirsten Gillibrand, D-N.Y., urges Congress to make child care affordable, pass paid leave, support care infrastructure, and raise the debt ceiling on May 17, 2023 in Washington, D.C. Paul Morigi | Getty Images Entertainment | Getty Images Many workers need to take leave at some point to address their own health needs or to

Most young investors claim they are going to invest more money in the stock market this year compared to 2022 but, in fact, many of them have been doing exactly the opposite. That’s according to Bankrate, which released a new survey Wednesday that found 53% of Gen Z and 43% of millennial investors said they

Lordhenrivoton | E+ | Getty Images Higher prices have made it difficult for Social Security beneficiaries to keep up, even with a record boost to benefits for 2023. An 8.7% cost-of-living adjustment, or COLA, put about $140 per month more in Social Security beneficiaries’ checks starting in January, according to estimates from the Social Security

Sen. Bernie Sanders, I-Vt., speaks at a press conference outside the U.S. Capitol Building on May 4 in Washington, D.C. Anna Moneymaker | Getty Images News | Getty Images For many Americans, a medical emergency can lead to a financial crisis due to the high cost of health care in the U.S. This week, Sen.

Jayme Thornton | Tooga Productions | Getty Images The IRS is testing a system that would allow taxpayers to file federal tax returns for free online directly with the agency, with a pilot program launching for some filers next year. Known as Direct File, the pilot program will begin during the 2024 filing season, following

With persistent inflation, an impasse on federal debt limit talks and a possible recession looming, many Americans are very concerned about the impact of this economic uncertainty on their finances and are confused when it comes to determining the right moves to make with their own money right now. About two-thirds of U.S. adults expect

IRS Commissioner Danny Werfel speaks at a Senate Finance Committee hearing in Washington, D.C., on April 19, 2023. Al Drago | Bloomberg | Getty Images The IRS on Monday said that Black taxpayers are significantly more likely to face an IRS audit, confirming recent findings. IRS Commissioner Daniel Werfel said the agency is weighing changes

A billboard showing the debt limit is seen in Washington, D.C. on April 17, 2023. Mandel Ngan | AFP | Getty Images As lawmakers work to hammer out a debt limit deal, experts already say more needs to be done to curb the nation’s spending, and that could include Social Security and Medicare reform. The

Collectively, Americans owe nearly $1 trillion on credit cards. Total credit card debt stood at $986 billion at the start of 2023, unchanged from the record hit at the end of 2022, according to a new report on household debtfrom the Federal Reserve Bank of New York. Typically, balances fall in the beginning of the

Nirunya Juntoomma | Istock | Getty Images An emergency fund is a key piece of your financial plan, especially amid economic uncertainty. But the right amount of cash depends on your household and occupation, according to financial experts. Most Americans aren’t prepared for a financial emergency, according to a recent CNBC/Momentive survey of more than

Toondelamour | E+ | Getty Images Have a losing investment? You may need to wait longer than you think to regain that loss. The answer lies in simple arithmetic. Yet, “investors always misunderstand this,” said Ted Jenkin, a certified financial planner based in Atlanta and a member of CNBC’s Financial Advisor Council. Here’s an example:

Rockaa | E+ | Getty Images Although the Biden administration’s sweeping student loan forgiveness plan and the legal troubles around it have gotten the most headlines, the U.S. Department of Education has already canceled more than $66 billion in education debt under existing programs. More than 2 million borrowers, including defrauded students and those who

Dobrila Vignjevic | E+ | Getty Images Amid a stalemate on federal debt ceiling negotiations, some government officials are warning the Social Security checks sent to more than 65 million beneficiaries each month could be at risk. On Sunday, Senate Majority Leader Chuck Schumer, D-N.Y., warned a “Social Security shutdown” could happen if the U.S.

U.S. Senate Minority Leader Mitch McConnell, R-Ky.; Speaker of the House Kevin McCarthy, R-Calif.; President Joe Biden; and Senate Majority Leader Chuck Schumer, D-N.Y., meet in the Oval Office on May 9, 2023 to discuss the debt ceiling. Anna Moneymaker | Getty Images News | Getty Images The U.S. may be weeks away from being

Ponywang | E+ | Getty Images This story is part of CNBC’s College Money Guide 2023, a series to help students and recent graduates understand their money and start their adult life off on a solid financial path. Getting your first full-time job out of college is exciting! It’s thrilling to know that someone wants

A protestor holds a sign reading “64 years is a no” during a May Day (Labor Day) demonstration in Lille, France, on May 1, 2023, more than a month after the government pushed an unpopular pensions reform act through parliament. Sameer Al-doumy | Afp | Getty Images French citizens have taken to the streets to