Personal finance

U.S. President Joe Biden gestures as he delivers remarks on aid to Ukraine from the White House in Washington, U.S., December 6, 2023.  Kevin Lamarque | Reuters The Biden administration announced Wednesday that it would forgive an additional $4.8 billion in student loan debt, for 80,300 borrowers. The relief is a result of the U.S.

Morsa Images | Digitalvision | Getty Images About 8 million Americans rely on federal benefits that provide income to the elderly, blind and disabled who have little or no income or resources. Yet the program — Supplemental Security Income, or SSI — has not been updated in about 40 years. A bill called the SSI

Consumer spending has remained remarkably resilient in the face of persistent inflation — but that has come at a cost. To keep up with higher prices, Americans racked up more credit card debt than ever this year. Not only are balances higher, about half, or 47%, of cardholders are carrying debt from month to month, creating

The number of Americans who say they are stretched too thin has remained stubbornly high. Amid a prolonged period of high inflation, more than 60% of Americans are living paycheck to paycheck. However, women are ”significantly more likely” than men to have a hard time making ends meet, according to a recent report from Varo Bank. About

Luis Alvarez | Digitalvision | Getty Images The U.S. economy inched closer to a so-called “soft landing” after a new batch of labor data, economists said. A soft landing is a good thing. It would mean the Federal Reserve has accomplished the difficult task of taming inflation without triggering a recession. Job openings, a barometer

High schools have been buzzing about financial education. The latest “report card” from the Center for Financial Literacy at Champlain College in Burlington, Vermont, shows seven states — Alabama, Iowa, Mississippi, Missouri, Tennessee, Utah and Virginia — made the top grade. They earned an “A” because in those states, high school graduates in the class

Young people using cellphones. Filippobacci | E+ | Getty Images Gen Z women are driving spending trends on TikTok. Women in their 20s spend more time on the short-form video app than male peers of their generation, and it’s exposing them to a financial risk. “TikTok is a Gen Z women-centric app and it is

Eric Audras | PhotoAlto Agency RF Collections | Getty Images If you’ve poured cash into money market mutual funds, you could see a higher 2023 tax bill in April. But other investments could reduce your 2024 taxes, experts say. Investors and institutions have funneled cash into money market funds amid rising interest rates, and balances

Vesna Andjic | E+ | Getty Images With roughly one month left in 2023, there’s still time to reduce your tax bill or boost your refund, experts say. Typically, you can expect a federal refund when you overpay annual taxes or withhold more than the total owed. The average refund for 2023 was $3,054, as

A US Air Force (USAF) Lockheed Martin F-35A Lightning II all-weather stealth multirole combat aircraft flies over during the 2023 Dubai Airshow at Dubai World Central – Al-Maktoum International Airport in Dubai on November 13, 2023.  Giuseppe Cacace | Afp | Getty Images In times of war, investors’ thoughts naturally may turn to defense stocks.

Hero Images | Hero Images | Getty Images Even before the Supreme Court blocked President Joe Biden’s plan to forgive student debt, fewer students were enrolling in college. Nationwide, enrollment has lagged since the start of the Covid-19 pandemic, when a significant number of students decided against a four-year degree in favor of joining the workforce or completing a certificate

Richard Stephen | Istock | Getty Images When Joyce Debnam’s husband passed away, she began receiving $1,400 a month in Social Security survivor benefits. Eight months later, that income unexpectedly changed. The trigger: Debnam retired from her job at the United States Postal Service in 2013 after four decades of service. That life change prompted