Tax scams are becoming more sophisticated each year, especially during tax season when millions of Americans are filing and expecting refunds. Scammers take advantage of this urgency by posing as the IRS, offering false promises of larger refunds, or pressuring individuals into sharing sensitive information. Falling victim to a tax…
By Julie Jaggernath If you’re thinking about downsizing, crunch your numbers carefully because it might cost you more than it saves in the long run. Since the pandemic, the ability to defer mortgage payments has become a more seamless process. But given the persistent high cost of living, you might…
Does your grocery store hike the price of milk during your hurried commute home? Is it raising the cost of ice cream during a July heat wave? Are you seeing “personalized” prices based on your income or shopping history? As technology advances, these scenarios are becoming increasingly realistic. Put simply,…
Images by Getty Images; Illustration by Issiah Davis/Bankrate Key takeaways Contrary to popular belief, you don’t actually have to put down 20% of a home’s price to get a mortgage. Some mortgages don’t require any down payment at all, and you can get a conventional mortgage with as little as…
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Last year, on the day before Tax Day, my mom was scheduled to fly into Philadelphia International Airport to stay…
The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
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Key takeaways A longer loan term means you’ll have a lower monthly payment, but you’ll also pay more in interest. A shorter loan term helps minimize borrowing costs and the risk of being upside-down on your loan. Consider the monthly payment and overall cost of…
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Key takeaways Car title loans are a convenient way to get fast cash if you own your vehicle outright. These loans are risky…
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For fintech startups, the first five years of the decade have been a roller-coaster ride. At the outset, companies were awash in easy…
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Before she landed an affordable apartment in the San Francisco suburb of Burlingame, Lorena Gonzalez was crashing at a relative’s house, where she shared a bedroom with her 18-year-old son. And before that, Gonzalez rented an apartment so far from her job that the commute could take three hours. “I…
It’s not uncommon for debt to feel like you’ll never get out from underneath it. Thankfully, there are steps that you can take to improve your finances and be done with debt once and for all. As you start your payoff journey, use these tips to choose strategies that get…
10’000 Hours/Getty Images Key takeaways It is possible to have multiple personal loans as long as you have the income and credit score to qualify. A lenders may limit how many personal loans you can have with it at the same time. Having multiple personal loans could become unaffordable if…
Key takeaways Home additions are time-intensive and pricey, easily hitting six figures. Materials, labor and zoning regulations will impact the scope of your project, so request quotes from multiple contractors to determine the full cost. Home improvement loans are an unsecured option to finance small to midsize additions. The cost…
Halfpoint Images/Getty Images Key takeaways Calculating how much your business can afford to borrow and how much it really needs is an important first step when looking for a loan. Reviewing your qualifications like credit score, annual revenue and time in business is another important step in preparing to apply…
Key takeaways Home equity loans and HELOCs offer more money at a lower interest rate than credit cards or personal loans. Some of the most common reasons for using home equity include paying for home renovations, consolidating debt and covering emergency or unexpected costs. Although lenders allow you to tap…
Images by GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways A car can be used as collateral for a loan even if your credit score is low, and loans secured by your vehicle may come with lower rates than unsecured loans. Car title loans can be risky and are typically smaller…
Annuities are a common financial product used in retirement planning, but their compensation structure isn’t always easy to understand. Many investors are familiar with the basic concept of exchanging a lump sum for a stream of guaranteed income, but fewer are aware of how financial advisors are compensated when recommending…
My wife and I bought our home in 2013 using a $417,000 30-year mortgage at a fixed rate of 4.625%. In 2020, we paid it off 23 years ahead of schedule, saving about a quarter of a million dollars in interest. Owning our home without a monthly payment provides tremendous…
Illustration by Hunter Newton/Bankrate Ayesha Garnett is defying the housing market’s grim math. A housekeeper in Philadelphia, Garnett says she doesn’t make much, but she’s smart with what she’s got. “I’m a saver,” she says. “[My salary] takes care of me and what I need to get done.” But there was…
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