The U.S. public safety net can be a catch-22: These services act as a lifeline for people with disabilities, but it bars people from meaningfully saving, investing and building personal wealth. Money stashed in a retirement account or brokerage account counts against the small, strict asset limits imposed by certain…
Key Takeaways Focus on essential needs like food, housing, and utilities while reducing unnecessary purchases. Establish a structured budget to prioritize needs vs wants and stick to it. Consider community resources and government assistance that provide help with food, housing, and utilities. Investigate professional credit counseling from a non-profit agency…
Sarah-Jane Joel/Getty Images Key takeaways A deed of trust is a legal agreement used in real estate transactions in which a third party — the trustee — holds the title to the property until the borrower repays the mortgage. A mortgage is a similar agreement, but it doesn’t involve a…
Dependent life insurance is a type of life insurance you may not have encountered, but which could be good to investigate. Life insurance is designed to provide financial resources in the event that the insured person — often the policyholder — dies while the policy is in force. Dependent life…
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Many people in economics, finance, business, and regular consumer life have been waiting for the forecast inflation, the tariff shock,…
San Francisco-based Chime, the largest digital bank in America, wants to go public at a price between $24 and $26…
The Trump administration is clamping down on federal student loan defaults; at the same time, Republican lawmakers in Congress just…
A practice of Elon Musk and Tesla’s board raises questions about the company’s governance and the possible low valuation that…
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Five years ago, Taylor Gothard, 41, and his spouse found themselves staring at $100,000 in credit card debt spread out over 17 maxed-out credit cards. When it comes to debt like this, they’re not alone. Nearly 40 percent of cardholders have maxed out a credit…
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Images by Getty Images; Illustration by Bankrate When you’re working hard to build financial security, deciding to spend thousands of dollars on a…
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OBSERVATIONS FROM THE FINTECH SNARK TANK JPMorgan Chase notified fintech data aggregators that, starting later this year, it plans to charge for access…
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Olga Pankova/Getty Images Key takeaways People often invest in bonds for their perceived safety, but it’s still possible to lose money investing in bonds. Bond prices move inversely to interest rates, so when rates rise, bond prices fall. Inflation can also eat into the return that bond investors earn, potentially…
Key takeaways Decreasing term life insurance provides temporary coverage for a specific financial need like an outstanding debt or mortgage. It may cost less than level term life insurance because the death benefit decreases to account for the fact that the debt obligation will likely lessen over time. A decreasing…
A 401(k) can be a great way to save for retirement, but a few wrong decisions can derail your progress. Fortunately, it only takes a little planning to avoid the biggest 401(k) mistakes, and working with a financial advisor can help you supercharge your 401(k), too. Here are some common…
Key takeaways Bad credit business loans are available for business owners with poor credit histories, but they often come with higher interest rates and fees Understanding eligibility requirements and working to increase your credit score can improve the chances of loan approval Equipment loans and invoice factoring are alternative methods…
Major life events often come with major financial decisions. A new job is cause for celebration, but how will the switch impact your plans for retirement? Should you make contributions to a traditional 401(k) at your new job or try out the Roth 401(k) option instead? These answers aren’t always…
Key takeaways The One Big Beautiful Bill Act has introduced a wide range of tax cuts and adjustments that small business owners should pay attention to and prepare for. New deductions around pass-through income, tipped and overtime wage and bonus depreciation can allow small business owners and workers to lower…
Colleen Campell, a former executive director at the Department of Education’s Federal Student Aid office, questions why Public Service Loan Forgiveness (PSLF) is seemingly always in the spotlight. “PSLF is 2 million borrowers and there are 43 million student loan borrowers,” says Campbell, who received PSLF relief for some of…
Images by Getty Images; Illustration by Issiah Davis/Bankrate Key Takeaways Key takeaways A FICO score below 580 or a VantageScore of less than 601 is considered a bad credit score. If your score falls in the bad credit range, you will face less favorable outcomes with lenders (who…
Key takeaways Ongoing rollbacks at the CFPB may lead to some deregulation in consumer lending, but it’s unlikely to reach pre-2010 conditions. Consumers could see the return of inflated interest rates, forced arbitration clauses and more expensive fees moving forward. Facing fewer consequences, some lenders may revert to aggressive tactics…
Key takeaways Bankruptcy discharge of student loans is very difficult, but not impossible, and requires demonstrating undue hardship in an adversarial proceeding. Exceptions exist, such as the possibility of discharging loans that are not qualified education loans. Recent policy changes by the U.S. Departments of Education and Justice permit the…
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