Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates moved up once again this week, with the 30-year fixed rate averaging 6.27%, up from 6.19% last week, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago 52-week average 52-week…
Key takeaways The Federal Open Market Committee (FOMC) sets the benchmark rate, which impacts the rates auto lenders set. When the federal funds rate fluctuates, so will the cost to finance a vehicle. The Fed increased the benchmark rate 11 times between 2022 and 2023 and cut it three times…
Bloomberg Creative/Getty Images Key takeaways The federal funds rate impacts how expensive it is for lenders to loan money, so consumer loan rates typically change when the federal funds rate changes. During the Federal Open Market Committee’s December meeting, the regulatory body announced it would drop the target rate by…
Even the most carefully planned budget can develop small leaks over time. Subscriptions renew automatically, outdated service plans linger, and everyday habits slowly chip away at your financial progress. While these expenses might seem minor on their own, together they can quietly drain hundreds of dollars from your budget each…
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Last year, on the day before Tax Day, my mom was scheduled to fly into Philadelphia International Airport to stay…
The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
With Republicans ending the Grad Plus program, private lenders are eyeing billions in new business, while some students could be…
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Most people see taxes come out of their paycheck without thinking much about where the money goes. Federal taxes follow one set of rules no matter where you live, but state taxes vary widely depending on your location. Some states have no income tax at…
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Get to Work – As Much as You Can Did you know almost half of Canada’s post-secondary students take on student loan debt?…
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For fintech startups, the first five years of the decade have been a roller-coaster ride. At the outset, companies were awash in easy…
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How Roth IRA gains are taxed depends on when and why you withdraw the money. You can typically withdraw growth inside a Roth IRA completely tax-free if you meet certain IRS rules. However, early withdrawals or non-qualified distributions may trigger income tax and even penalties. It can be extremely beneficial…
I’m a big fan of getting money back from purchases I would have made anyway. I rarely carry cash, use a debit card or write a check. Instead, I used three credit cards for most of my purchases in 2025, and when all was said and done, I earned close…
Reaching your 80s doesn’t automatically mean saying goodbye to income taxes. Many retirees live on fixed incomes and may owe little or nothing to the IRS. However, others with pensions, investment income or retirement withdrawals may still face tax obligations. The key to understanding your tax situation in your later…
Images by Getty Images; Illustration by Issiah Davis/Bankrate The average savings account rate is a benchmark for the overall interest-rate environment, but it’s not a rate you should settle for. Rather, aim for an annual percentage yield (APY) many times the national average, such as those offered by high-yield savings…
The IRS generally treats unemployment compensation as taxable income. If you don’t plan for this, or don’t withhold money from your weekly payments, you may owe money when you file your tax return. State tax rules vary, too, which can further impact your final tax bill. Knowing how to report…
Key takeaways Start by identifying your primary banking needs: checking, savings, CDs or specialized services. Avoid banks with excessive fees — average overdraft fees are $26.77, but many banks offer fee-free options. Consider traditional banks, online banks and credit unions, keeping in mind that the latter two may provide better…
Whether you owe taxes or receive a refund comes down to how much tax was withheld from your paychecks, how your income changed over the year, and whether you still qualify for the credits and deductions you may have relied on in the past. If too little tax is withheld…
For most of your working career, the focus of your retirement planning is on accumulating savings and investing that money wisely. As you approach retirement, more attention will go to estimating your income after you stop working, and the kind of lifestyle that this will support. The way to do…
Photography by Getty Images; Illustration by Bankrate The tax deadline will be here before you know it. The good news is that there are a few different options to file your taxes for free in 2026 — and many of them offer guided support to make sure you file your…
Key takeaways Figuring your AGI is a crucial step on the path to calculating your taxable income and, in turn, your tax bill. Your AGI determines your eligibility for a variety of tax deductions and tax credits. (Sometimes, your modified adjusted gross income comes into play — more on that…
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