Balancing Caregiving Costs and Debt Caregiving often comes with changes to your income and spending. Many caregivers reduce their work hours or take unpaid leave, while also covering out-of-pocket expenses like home modifications, special diets, or respite care. That’s why building a realistic and adaptable budget is key. Track your…
Images by Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways Mortgages make up the highest percentage of household debt nationwide, with the average American owing $252,505. Millennials have the highest average mortgage debt at $312,014, with Gen X close behind at $283,677. The District of Columbia, California and Hawaii have…
Andrew Harnik / Staff / Getty Images Key takeaways The first of three monthly reports from the U.S. Department of Education suggests that processing for both income-driven repayment plans and the Public Service Loan Forgiveness buyback program is off to a slow start. Borrowers who applied for either program should…
Stocks tend to dominate financial headlines due to their volatility and potential for rapid gains or losses. But, bonds also play an important role by providing investors with stability and income. Both markets are large, and their size can change depending on the economy, interest rates and investor behavior. Knowing…
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While there has been much conversation on not buying from companies with poor diversity, little has been said about investing…
Lifestyle inflation occurs when your expenses increase as you earn more income. It can start subtly—dining at pricier restaurants, upgrading…
Chime, the largest digital bank in America, grew its revenue to $1.7 billion in 2024, an increase of roughly 30%…
Technology has transformed some parts of the daunting homebuying process–making it easier to search and compare properties online, to prepare…
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Key takeaways With home values at historic highs, tapping home equity is tempting if you need cash. However, while home equity loan and HELOC rates are lower now than they have been over the past year, they’re still higher than historical norms. Of the…
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Cons of Budgeting Apps While the best budgeting apps will give all the benefits above, they also tend to share a few general…
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Apple, FedEx and Oracle all got loans guaranteed by the Small Business Administration. But rules and red tape keep many banks from making…
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Key takeaways Adding authorized users to your business credit card account can make it easier for you to complete purchases and earn rewards…
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Rolling over your 401(k) to a 403(b) is only an option if you start a job that offers a 403(b) plan. These plans are typically available through public schools, nonprofits and certain government organizations. If you do become eligible, transferring your retirement savings from a 401(k) to a 403(b) can…
A boost to the child tax credit could increase tax refunds for millions of taxpayers this coming tax season, with parents who have children under 17 potentially enjoying a credit worth up to $2,500 per child, up from $2,000 currently, if a proposed Republican bill becomes law. But the increase…
If you’re self-employed, saving for retirement is your responsibility. Two common tools are SEP IRAs and annuities, but they work in different ways. An SEP IRA gives you tax advantages, control over investments and flexibility. An annuity offers guaranteed income, but usually with less access to your money and slower…
Key takeaways An individual retirement annuity provides tax advantages and guaranteed income in retirement. Unlike an individual retirement account, an individual retirement annuity limits you to fixed or variable annuities. Like individual retirement accounts, individual retirement annuities have an annual contribution limit of $7,000 in 2025. Some individual retirement annuities…
Key takeaways You can find plenty of scholarship and grant options for graduate school, and you generally don’t have to pay them back. You can also fund graduate school through a variety of other options, such as work study, tuition assistance and military benefits. Scholarships are fairly easy to…
For most individual taxpayers, the October 15 tax extension deadline is final. Unlike the automatic six-month extension granted in April, the IRS typically does not offer further extensions beyond October 15 for personal tax returns. This deadline represents the absolute cutoff for most filers. Missing it can result in late-filing…
Key takeaways If you’re applying for a new card, you can expect to encounter common credit card application questions intended to verify your identity and creditworthiness. Understanding how to answer credit card application questions ahead of time helps make the application process as quick and easy as possible. …
Key takeaways A balance transfer credit card can help you pay off your debt faster and save money on interest, but it may not be the right move for everyone. Balance transfer credit cards offer advantages, including consolidating multiple payments, lowering your total interest paid and paying off…
A speeding ticket in Minnesota can cost more than just a quick hit to your bank account. While fees vary depending on the county you are speeding through, the fine for going 10 mph over the limit typically costs at least $100 — and climbs sharply the faster you’re going.…
Key takeaways Setting up a custodial Roth IRA for a child provides them with decades of tax-free, compounded investment growth on money they can use for important life events. Adults can easily open a custodial IRA on behalf of a minor at a discount broker by providing basic information about…
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