Personal finance

Xavierarnau | E+ | Getty Images The IRS has unveiled the individual retirement contribution limits for 2025. In its announcement Friday, the agency said the 2025 IRA contribution limit will be $7,000, unchanged from 2024. IRA catch-up contributions for investors age 50 and older will also stay the same, at $1,000. The annual individual limit applies to contributions to

Cecilie_Arcurs | E+ | Getty Images The IRS has announced new 401(k) catch-up contribution limits for 2025. In its release on Friday, the agency boosted the 401(k) contribution limit to $23,500 for 2025. But catch-up contributions for savers age 50 and older will remain unchanged at $7,500. The limits apply to workplace plans, including 401(k)s,

D3sign | Moment | Getty Images The IRS has unveiled the Roth individual retirement account contribution and income limits for 2025. For 2025, the total contribution limit to Roth IRAs remains $7,000, unchanged from 2024, according to the IRS’ announcement on Friday. If you are 50 or over, catch-up contributions also remain unchanged at $1,000.

Impulse spending has a cure. So-called “slow shopping” promotes the importance of taking time to think through each purchase to make more mindful buying decisions, according to consumer savings expert Andrea Woroch. “This is definitely a shopping trend worth adopting to help you avoid impulse purchases and taking on debt,” she said.  ‘Slow shopping’ can

The US Department of Treasury in Washington, DC, on February 22, 2024.  Mandel Ngan | AFP | Getty Images The U.S. Department of the Treasury has announced new Series I bond rates.  Linked to inflation, newly purchased I bonds will pay 3.11% annual interest from November 1 through April 30, 2025, which is down from

The “phased rollout“ of the new Free Application for Federal Student Aid is on track for the upcoming academic year, the U.S. Department of Education says. So far, the 2025-26 FAFSA has been available to limited groups of students in a series of beta tests that began on Oct. 1. It will become available to all students

Blueflames | Getty Images The rate of inflation has come down from pandemic era highs. Yet many Americans still say they are living paycheck to paycheck, according to new research from Bank of America. That may apply whether household income is less than $50,000 or more than $150,000. How tight household budgets are is a

Betsie Van der Meer | Getty Only one cohort of shoppers thinks they have enough financial runway to spend cash this holiday season without rolling into debt — and even so, many in that group anticipate struggling. About half, or 52%, of shoppers with incomes of $100,000 or more believe they can “easily afford” holiday

Getty Images If you’re weighing a year-end Roth individual retirement account conversion, waiting too long could be risky, financial experts say.   Roth conversions move pretax or nondeductible IRA funds to a Roth IRA, which can start tax-free growth. The trade-off is upfront taxes on the converted balance, which boosts your adjusted gross income. The strategy has

As the run-up to the U.S. presidential election has highlighted, there is a growing share of “childless cat ladies” in this country. There is also a larger share of single women with children. As marriage rates fell, the number of women heading families rose. Often, this comes with financial challenges. Many single mothers shoulder the

Westend61 | Westend61 | Getty Images There’s still time to lower your taxes or boost your refund for 2024, financial experts say. Typically, there’s a refund when you overpay taxes during the year via withholdings or estimated payments. You can expect a tax bill when you don’t pay enough. Since the Tax Cuts and Jobs

When I was a teenager, I bought my first car. It was a Toyota Tercel with a few hundred miles on it and cost less than $10,000. Granted, this was 30 years ago. Now that I have a daughter turning 17, I envisioned a similar scenario. She has worked — and saved — since the