Personal finance

The party may be over for “buy now, pay later.” The Consumer Financial Protection Bureau said Thursday that these installment payments come with “several areas of risk of consumer harm,” including data harvesting, debt accumulation and “loan stacking” — or juggling multiple payment plans at once. Buy now, pay later lenders — including companies such

Sporrer/Rupp | Image Source | Getty Images As talk of Social Security reform heats up heading into the November election, one congressional proposal to expand the federal program has received a new endorsement from California lawmakers. In August, a joint resolution passed both the state’s senate and its assembly. Now, it goes to Capitol Hill

A Social Security Administration office in San Francisco. Getty Images The Social Security Administration’s average wait time for an initial disability decision hit an all-time high in August of more than six months, or 198 days — almost three times higher than it was a decade ago. That is just one of many signs that

Cecilie Arcurs | Getty Images There’s about one month until the Oct. 17 tax deadline extension, and experts say filers need to prepare, especially for more complicated returns. An estimated all-time high of 19 million American taxpayers filed an extension for their 2021 returns, according to the IRS. Kevin Brady, a certified financial planner and

If you’re expecting relief from President Joe Biden‘s plan to forgive up to $20,000 in student loans, you may have state income tax liability, depending on where you live.  While legislation is evolving, it’s possible that seven states — Arkansas, California, Indiana, Minnesota, Mississippi, North Carolina and Wisconsin — may tax student loan forgiveness, according

Pekic | E+ | Getty Images The U.S. Department of Education continues to put out new information on how President Joe Biden’s historic student loan forgiveness plan will work. Some of the latest details include how forgiveness will be applied to your balance: which federal student loans can get the relief, and in what order.

Andresr | E+ | Getty Images For retirement “super savers,” good financial habits appear to go far beyond fattening up their nest eggs, a new study shows. Most of these workers — whose 401(k) contributions are at least 15% of their pay or 90% or more of the maximum allowed — also pay their bills

Going to the grocery store isn’t getting any cheaper. Rising food costs helped push inflation higher again last month, despite a drop in gas prices. The food index alone rose 11.4% over the past year, according to the latest consumer price index figures — marking the biggest 12-month jump since May 1979. The food-at-home index, a measure

Fizkes | Istock | Getty Images There’s good news for the millions of people with federal student loans who’ve made payments on that debt during the Covid pandemic: many of them will be eligible to get the money back. The U.S. Department of Education says that many borrowers eligible for President Joe Biden‘s student loan

Getty Images If you haven’t been sending part of your income to the IRS in recent months, this week is the last chance to avoid a tax penalty. The deadline for third-quarter estimated taxes is Sept. 15, applying to income from self-employment, small businesses, investments, gig economy work and more, according to the agency. “It’s

Largely out of necessity, consumers are getting creative about stretching their dollars. After inflation hit back-to-school budgets hard and as families are feeling the weight of holiday expectations, more are considering thrift shopping as a way to save. Bargain hunting is certainly not new. But with the Covid pandemic came a surge in “thrifting” and

Sollina Images | Tetra Images | Getty Images Despite falling gas prices, inflation was higher than expected in August, curbing optimism for lower day-to-day expenses. But some retirees won’t feel the sting of elevated costs, experts say. Annual inflation rose by 8.3% in August, fueled by growing costs for food, shelter and medical care services,