The summer of 2022 got off to a very expensive start as shoppers paid an average of 9.1% more for goods and services in June than they did at the same time last year. According to CNBC, inflation rose even faster last month than the already high 8.8% that analysts had predicted. By Andrew Lisa That adds yet another month with 40-year-high inflation to the tally — prices haven’t risen this quickly since 1981....
More than one in four U.S. consumers are not aware that you can buy a house at auction, according to a new survey from ServiceLink, and yet more than 60% — including 75% of millennials — would consider doing so if given the chance. By Vance Cariaga See: Housing Trends: Two-Thirds of Home Sellers in U.S. Plan to Sell Within Six Months, According to New SurveyFind: Home Equity Loans 101: What They Are, How They’re Used and What You Need To Get One...
You might have seen the photo that recently retired quarterback Tom Brady shared on social media last summer, soon after receiving his seventh ring for winning the Super Bowl. It shows Brady, his two hands held up, with huge, knuckle-to-knuckle rings dominating seven of his fingers. By Jami Farkas The picture of success. More: The 10 Highest-Paid Players in This Year’s Super Bowl Also Learn: How Much Are the Owners of the Super Bowl LVI Teams, Rams and Bengals, Worth?...
Mandela Barnes, 35, is an American politician who currently serves as the lieutenant governor of Wisconsin and is running for a Senate seat against Republican Sen. Ron Johnson. The race is very close with Barnes, a progressive Democrat, being the slight front-runner in recent polling. By Michelle Tompkins See: Surprising Things You Can Buy With Food StampsFind: 6 Types of Retirement Income That Aren’t Taxable He is currently taking some heat for not being present while President Joe Biden was giving a Labor Day speech on Sept....
Contrary to popular thinking, washing dishes by hand is much less efficient than using your dishwasher. As Better Homes & Gardens noted, a recent study by Cascade found that Energy Star-certified dishwashers use less than four gallons of water per cycle. Washing one dish by hand for 15 seconds uses a half-gallon. By David Nadelle Explore: 5 Ways to Save on Your Electric Bill That Won’t Cost You MoneyFind Out: Can Using an Air Fryer Instead of an Oven Save You Money?...
What’s the best way to budget for living costs? While the internet easily could debate this question at length, there is a general rule that most experts agree on as a basic financial strategy. You might already be familiar with this formula: It’s the 50/30/20 rule. By Heather Taylor Have Any $200 Quarters Lying Around? It’s Worth Checking Your Spare ChangeDollar Tree: 5 High-Quality Items To Buy Now Why, especially in a time of inflation, does the 50/30/20 still work as one of the best budgeting guidelines?...
When your young child gets invited to a classmate’s birthday party, he or she will likely be overwhelmed with excitement. Meanwhile, you can’t help but wonder, “Wow much should I spend on a gift?” By Cynthia Measom See Our List: 100 Most Influential Money ExpertsRead More: 7 Surprisingly Easy Ways To Reach Retirement Goals Here’s everything you need to know. More From Your Money: Choose a high-interest saving, checking, CD, or investing account from our list of top banks to start saving today....
If you’re approaching retirement age, chances are most of your New Year’s resolutions involve money — with a particular emphasis on making sure your nest egg is big enough to carry you through the next couple of decades. That’s understandable (and smart), but it shouldn’t be your only focus. By Vance Cariaga Discover: Best Cities To Retire on a Budget of $1,500 a MonthSocial Security January Payments: When Will Checks Arrive in 2022?...
Prior to the pandemic, Baby Boomers — typically classified as people born between 1946 and 1964 — represented 41% of homeowners in the U.S, according to a special report from the Research Institute for Housing America. By Dawn Allcot Live Updates: Financial Trends, Money News and MoreExplore: Younger Boomers May Outlive Their 401(k) Savings — These Steps Could Help the Money Last Longer That number promises to shift in the next few decades, as older Americans age out of their homes to move to assisted living or smaller rentals apartments and, ultimately, die....
The Bureau of Labor Statistics July Consumer Price Index report shows that prices increased .5% from June. This is after an overall increase of prices in June of .9%. These figures represent an overall increase of 5.4% in prices over the last 12 months before seasonal adjustments. By Georgina Tzanetos See: Despite Increasing Wages, Inflation Means the Average Worker Gets a 2% Pay Cut Find: Understanding the Differences Between Inflation, Deflation & Stagflation...
The exciting and volatile rise of Bitcoin was the investment story of the previous decade. While cryptocurrency has made clear that it’s no passing fad, no one knows for sure whether it will ever truly compete with traditional currency — but that might not matter. Many experts believe that cryptocurrency’s real value lies in its potential as an asset more than in its acceptance as a medium of exchange. By Andrew Lisa If You’re Looking: 8 Best Cryptocurrencies To Invest In for 2021More Options: 10 Cheap Cryptocurrencies To Buy...
By Andrew Lisa More About Him: How Much Is Jeff Bezos Worth? Also See: Fascinating Things Top Billionaires Have in Common More From Your Money: Choose a high-interest saving, checking, CD, or investing account from our list of top banks to start saving today. He Was Dethroned as King of the Billionaires Bezos was the richest man in the world — until he wasn’t. That drama dates back to at least 2019 when Bill Gates knocked Bezos off his perch....
A Roth IRA is a qualified individual retirement account that allows you to grow investments tax-free. You contribute money you’ve already paid taxes on. By Joel Anderson How It Works Who Is Eligible Advantages Disadvantages Roth vs. Traditional Takeaway That’s the reverse of a traditional IRA or 401(k), in which you don’t pay taxes on money you contribute but do owe income tax on any withdrawals. There’s also no required distribution from your Roth IRA, unlike a traditional IRA or 401(k)....
Social Security checks are scheduled to go out starting on Sept. 14. Rising inflation has increased the Social Security cost-of-living adjustment (COLA) to 5.9% for 2022, the largest in nearly 40 years, and there are forecasts of a nearly double-digit increase for 2023. By Josephine Nesbit See: 5 Places in Florida Where You Can Live Only on Social SecurityFind: 7 Surprisingly Easy Ways To Reach Your Retirement Goals Here is the September Social Security schedule:...
The Internal Revenue Service (IRS) is urging all taxpayers to set up direct deposit for their tax return in order to receive their money faster. The IRS will not permit taxpayers to deposit a tax refund into someone else’s account, however — so if your teen doesn’t have a bank account, now is a good time to teach them this aspect of personal finance. By Dawn Allcot See: Teens & Taxes: Are Working Minors Entitled to a Tax Refund?...
It could cost you real money to earn your wages — at least according to a new report that looks at the costs behind going into an office versus working from home. It found that workers could be spending twice as much just to show up at work. By Selena Fragassi See: 9 Best Dollar Tree Items for Fall 2022Find: 22 Side Gigs That Can Make You Richer Than a Full-Time Job...
Even in a seller’s market, having a home that appeals to the most buyers can help you get your home sold quicker and for the best price. So it’s important to be aware of the top red flags buyers look out for when searching for homes. By Gabrielle Olya Advice: 20 Home Renovations That Will Hurt Your Home’s ValueMore: 8 Insider Tips To Get Rich in Real Estate Opendoor surveyed homebuyers about their biggest turn-offs, and identified the home design elements that could be costing you that offer....
It’s never too early to teach your kids about money. Whether they count coins in a piggy bank, set aside their allowance to buy special toys, earn gas money with a part-time job or start investing for the future in a Roth IRA, they can learn important financial lessons at every age. Teaching kids the following habits can help them build a strong financial future — and help them in many other ways, too....
In negative market news for many investors, Uber has reported a $5.9 billion first quarter net loss, per MSN. However, considering how well Uber performed in other bookings and earnings categories, investors could instead choose to toast potential good times ahead. By David Nadelle Discover: 22 Side Gigs That Can Make You Richer Than a Full-Time Job More: Cash App Borrow: How To Borrow Money on Cash App The San Francisco-based ridesharing company reported better-than-expected first quarter results across the board as it continues to rebound from stilted pandemic performance....
Imagine you time traveled back to the year 2000 with $20 in your pocket. According to the CPI Inflation Calculator, that $20 bill would be the equivalent of about $33.95 today in purchasing power. By Heather Taylor Twenty-two years ago, the inflation rate was 3.36%. According to the Bureau of Labor Statistics consumer price index, the dollar has had an average inflation rate of 2.43% per year between 2000 and today....
