Personal finance

Senate Finance Committee Chairman Ron Wyden, D-Ore., questions IRS Commissioner Charles Rettig at a Senate Finance Committee hearing. Tom Williams | Pool | Reuters President Joe Biden‘s nominee to lead the IRS answered questions during a Senate Finance Committee hearing this week, highlighting key issues from lawmakers on both sides of the aisle. Daniel Werfel,

Inflation is still taking a hefty toll on households, recent reports show. Prices continued their upward momentum in January, rising 0.5% for the month and 6.4% over the past 12 months, according to the latest consumer price index data released by the U.S. Bureau of Labor Statistics. To make ends meet, 27% of Americans said they’ve had to

Pablo Rasero | Istock | Getty Images While those with federal student loans wait to see if the Biden administration’s sweeping loan forgiveness plan survives two Supreme Court challenges, another big change is also on the horizon for borrowers. The U.S. Department of Education is working to create a new repayment option for the tens

Daniel Swan, 26, started as an apprentice and now works full time as an HVAC technician in California. Courtesy: Lee’s Air For Daniel Swan, a 26-year-old father of two, it was simply a means to a well-paying job during an uncertain time. Armed with a technical degree, Swan joined an apprenticeship program with Lee’s Air

In this article RJF Follow your favorite stocksCREATE FREE ACCOUNT A man walks past a grocery store on February 01, 2023 in New York City. Wages for workers in most major U.S. cities grew at a slower pace in the final three months of 2022, with inflation still outstripping pay for many workers. Leonardo Munoz

U.S. Senate Minority Leader Mitch McConnell of Kentucky at the U.S. Capitol Building on Feb. 13, 2023. Anna Moneymaker | Getty Images News | Getty Images Dozens of Republican members of Congress have filed briefs with the U.S. Supreme Court, arguing that the Biden administration’s student loan forgiveness plan should be ruled unlawful. “Congress authorized

Luminola | E+ | Getty Images Talking about money with your romantic partner or spouse can be tough — especially when you don’t understand or know much about how they think about money. A new survey finds that 64% of couples admit to being “financially incompatible” with their partners, with different philosophies about spending, saving,

Fotostorm | E+ | Getty Images The start of 2023 has seen a number of large companies announce deep cuts to their head counts, including Amazon, Dell, Google, Microsoft, PayPal and Zoom. Being laid off can be one of the most disruptive events in a person’s life, setting off a host of financial and existential

Ivan Kyryk | Istock | Getty Images If you got married in 2022, you can add “tax return” to the list of things you’ll now be sharing. For some newlyweds, this is going to mean a bigger tax bill due to a so-called “marriage tax penalty.” It can happen when tax-bracket thresholds, deductions and credits

Collectively, Americans owe more on credit cards than ever before. Thankfully, 0% balance transfer credit card offers — which are “one of the best weapons Americans have in the battle against credit card debt” — are even more plentiful than they were a year ago, said Matt Schulz, chief credit analyst at LendingTree. Yet 37% of

Hobo_018 | E+ | Getty Images In August, when President Joe Biden rolled out his historic plan to cancel up to $20,000 in student loan debt for tens of millions of Americans, one of the policy’s stated goals was “to help narrow the racial wealth gap.” Shortly after the president’s announcement, critics of student loan

Pekic | E+ | Getty Images More than 1 million people recently took to the streets in France to protest an increase in the country’s standard retirement age. In the U.S., a similar battle may be quietly brewing in Washington. The full retirement age for Social Security, when workers are eligible for 100% of the

Sutthichai Supapornpasupad | Moment | Getty Images Consumers are paying record prices for eggs. But beyond the inflated sticker price for a dozen eggs, there’s also a hidden expense to the soaring costs. Elevated egg prices are trickling into food items across the grocery store — namely those in which eggs are a main ingredient,

Malaikacasal | Istock | Getty Images That heart-shaped box of chocolates may be only half full this Valentine’s Day. It is not the result of a manufacturing glitch. Instead, it is an effort by certain brands to use bigger boxes to prompt consumers to think they are getting more for their money than they really

Nearly 200 million people will watch the Philadelphia Eagles face off against the Kansas City Chiefs in the Super Bowl on Feb. 12, which might be a good motivation to buy a brand-new television. While you might not see as many deals now as there are on Black Friday, prices, in general, have been steadily falling,

10’000 Hours The IRS on Friday issued federal tax guidance for millions of Americans who received state rebates or payments in 2022. The announcement came about a week after the agency had urged those taxpayers to hold off on filing while it determined if the funds are taxable on federal returns. “The IRS has determined

Taylor Swift attends the 65th Grammy Awards on Feb. 5, 2023 in Los Angeles. Jeff Kravitz | Filmmagic, Inc | Getty Images This is an excerpt from the Personal Finance team’s weekly Twitter Space, “This week, your wallet.” Check out the latest episode here, and tune in every Friday at 11 a.m. ET. Egg prices have

As a young physician, Dr. Elizabeth Clayborne saw a need for a better way to stop nosebleeds, a common condition she saw at the hospital where she worked, especially among children. She developed a bandage-like device for your nose and secured patents for her invention, called “NasaClip.” Then, in 2020, the Washington, D.C.-Baltimore area physician

If picking a college comes down to the financial bottom line, then an in-state public school can look like a particularly good deal. “In-state tuition is half to two-thirds lower than out-of-state,” said higher education expert Mark Kantrowitz and author of “How to Appeal for More College Financial Aid.” These days, that goes a long way

Halfpoint Images | Moment | Getty Images Moving money from a 401(k) plan to an individual retirement account — an action commonly known as a “rollover” — may sound straightforward. But the seemingly easy task has many pros and cons to consider before moving your money, according to financial advisors. More people may be facing