Personal finance

Sen. Kirsten Gillibrand, D-N.Y., urges Congress to make child care affordable, pass paid leave, support care infrastructure, and raise the debt ceiling on May 17, 2023 in Washington, D.C. Paul Morigi | Getty Images Entertainment | Getty Images Many workers need to take leave at some point to address their own health needs or to

Most young investors claim they are going to invest more money in the stock market this year compared to 2022 but, in fact, many of them have been doing exactly the opposite. That’s according to Bankrate, which released a new survey Wednesday that found 53% of Gen Z and 43% of millennial investors said they

Jayme Thornton | Tooga Productions | Getty Images The IRS is testing a system that would allow taxpayers to file federal tax returns for free online directly with the agency, with a pilot program launching for some filers next year. Known as Direct File, the pilot program will begin during the 2024 filing season, following

Sen. Bernie Sanders, I-Vt., speaks at a press conference outside the U.S. Capitol Building on May 4 in Washington, D.C. Anna Moneymaker | Getty Images News | Getty Images For many Americans, a medical emergency can lead to a financial crisis due to the high cost of health care in the U.S. This week, Sen.

Renewed fears of a possible recession have spurred more households to adjust their spending habits — finally. Broadly, Americans are cutting back, particularly on discretionary purchases, and saving more, according to recent reports on the state of the consumer by the Bank of America Institute and Deloitte. Now, 71% of Americans are likely to keep cash on

With persistent inflation, an impasse on federal debt limit talks and a possible recession looming, many Americans are very concerned about the impact of this economic uncertainty on their finances and are confused when it comes to determining the right moves to make with their own money right now. About two-thirds of U.S. adults expect

IRS Commissioner Danny Werfel speaks at a Senate Finance Committee hearing in Washington, D.C., on April 19, 2023. Al Drago | Bloomberg | Getty Images The IRS on Monday said that Black taxpayers are significantly more likely to face an IRS audit, confirming recent findings. IRS Commissioner Daniel Werfel said the agency is weighing changes

Collectively, Americans owe nearly $1 trillion on credit cards. Total credit card debt stood at $986 billion at the start of 2023, unchanged from the record hit at the end of 2022, according to a new report on household debtfrom the Federal Reserve Bank of New York. Typically, balances fall in the beginning of the

Toondelamour | E+ | Getty Images Have a losing investment? You may need to wait longer than you think to regain that loss. The answer lies in simple arithmetic. Yet, “investors always misunderstand this,” said Ted Jenkin, a certified financial planner based in Atlanta and a member of CNBC’s Financial Advisor Council. Here’s an example:

Nirunya Juntoomma | Istock | Getty Images An emergency fund is a key piece of your financial plan, especially amid economic uncertainty. But the right amount of cash depends on your household and occupation, according to financial experts. Most Americans aren’t prepared for a financial emergency, according to a recent CNBC/Momentive survey of more than

Rockaa | E+ | Getty Images Although the Biden administration’s sweeping student loan forgiveness plan and the legal troubles around it have gotten the most headlines, the U.S. Department of Education has already canceled more than $66 billion in education debt under existing programs. More than 2 million borrowers, including defrauded students and those who

For soon-to-be college grads without a job lined up, the future is daunting. “I’m definitely pretty stressed about it,” said Naomi Watson, 22, a senior at Santa Clara University in California. The political science major plans to move back in with her mom while she continues her search. With student loan payments on the horizon