The Federal Reserve isn’t expected to make any rate cuts at its January meeting, but its first gathering of the year still has a lot at stake for American households grappling with expensive borrowing costs, affordability challenges and a tough job market. The big question many Fed watchers are hoping…
Key takeaways A bank statement loan allows you to qualify for a mortgage using bank statements rather than pay stubs or tax returns. It’s most often used by self-employed borrowers. Not all mortgage lenders offer bank statement loans. You might need to work with a mortgage broker to find one.…
Key takeaways Mobile banking apps now offer AI-powered financial insights, biometric security, real-time fraud detection and automated savings tools beyond basic account access. According to Chase, 86% of consumers prefer to use a single app to do their banking. When selecting an app, prioritize security features, user experience and financial…
Hispanolistic/GettyImages; Illustration by Hunter Newton/Bankrate Key takeaways Offered by many financial institutions, online bill pay is typically a free, secure service that enables consumers to make various types of payments electronically. Payments made via online bill pay can be made using a website or an app. Keep track of your…
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The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
Historically Black colleges and universities are on the frontlines of the One Big Beautiful Bill Act’s new limits on parent…
The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
With artificial intelligence beginning to eat away at many white-collar entry-level jobs, and the unemployment rate for recent college graduates…
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Credit: Marje/Getty Images; Illustration by Issiah Davis/Bankrate If your credit needs work, that doesn’t necessarily mean you won’t qualify for a mortgage. There are lenders and loan programs for borrowers with bad credit, including FHA loans. However, you’ll have your work cut out for you:…
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2. Coaching and Tutoring Take stock of your areas of expertise – maybe you speak a second language or solving math equations comes…
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OBSERVATIONS FROM THE FINTECH SNARK TANKBankers wants to discuss AI strategy. They’re excited about chatbots, machine learning models, generative AI tools, and AI…
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Julia Sheers and her boyfriend want to buy a house. The housing market in Charlotte, N.C., just won’t let them. They’ve run into the same wall as millions of other Americans: too few homes they can afford and too much competition for the ones that are in their price range.…
Jordan Perkins, 36, could be a homeowner, but for now, he chooses to rent. He earns a comfortable salary from his sales job and is close to a seven-figure net worth — the product of an aggressive savings strategy he’s had since his late 20s. It just makes more sense…
Jeremy Nunes calls it the “money pit.” The three-bedroom, ranch-style home in central Illinois looked like a dream when Nunes and his wife purchased it in 2017, needing what appeared to be little more than a $10,000 bathroom remodel to be perfect. Then came the unexpected. A cascade of problems…
Key takeaways Unsecured debt, such as credit cards, student loans, medical bills and high-interest loans can all be consolidated. Debt consolidation can simplify your bill-paying strategy by consolidating multiple accounts into one new loan with a single payment. Consolidating debt can save you money on interest and help you get…
What’s worse: a weak job market or stubborn inflation? Most people would say they don’t want either. Rising prices make it harder to afford the things you need, even when you’re working. A weak job market makes it tougher to ask for a raise, find a better position or land…
A health savings account (HSA) can support your retirement plan through tax-deductible contributions, tax-free growth and tax-free withdrawals for qualified medical expenses. But not all insurance premiums qualify, so it’s important to know which costs you can and cannot cover with HSA funds. A financial advisor can help you review…
An inherited non-qualified stretch annuity pays out over many years instead of all at once. Only the earnings in each payment are taxable because the original contributions were made with after-tax dollars. Spreading payments over time can lower the yearly tax bill and keep the remaining balance growing tax-deferred. Distribution…
Joe Raedle / Getty Images Key takeaways TSA PreCheck is a trusted traveler program offering expedited airport screening to members. Memberships for TSA PreCheck start at $77 and are good for five years. Several credit cards can help you get TSA PreCheck for free, usually through a statement credit toward…
When comparing Medicare and Affordable Care Act (ACA or Obamacare) coverage, it helps to look at how each program works, who qualifies and what the costs may be. Medicare is a federal program for people age 65 and older and certain individuals with disabilities. The ACA provides access to private…
This year has been the year of the luxury credit card. The Chase Sapphire Reserve® and American Express Platinum Card® both added new perks in exchange for higher annual fees (now $795 and $895, respectively). And Citi re-entered the high-end credit card market with the debut of the Citi Strata Elite℠ Card (annual…
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