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The Federal Reserve Board released its long-awaited discussion paper about the pros and cons of a potential U.S. central bank digital currency (CBDC) on Jan. 20, inviting comment from the public. A digital currency being enacted would have massive economic influence on both the domestic and international economies. By Yaёl Bizouati-Kennedy See: The Federal Reserve Explained: How This Critical Institution Operates Find: The Federal Reserve Isn’t Raising Interest Rates — Yet...

With the national average price of gas hovering over $3.50 per week, according to AAA, filling up is no easy feat. You’ll pay an average of $3.531 per gallon (as of Feb. 2, 2022). That number isn’t just painful because it’s so high. If you’re the type who likes round numbers, counting change to the third decimal point just looks wrong. By Dawn Allcot Learn: How Filling Up on Gas During Specific Days Could Save You $100 AnnuallyExplore: White House Considers Federal Gas Tax Holiday as Oil Prices Approach $100 a Barrel...

Americans are struggling to cover the costs of prescription drugs. According to a survey published in October by Healthcare.com, four in 10 prescription medication users fear that prescription drug spending in their household could lead to bankruptcy or debt; three in 10 say their drug spending increased in the past year and three in 10 also say they had difficulty paying for food or housing in the past year as a direct result of the high cost of prescription meds....

As with every big game, Super Bowl LVI has plenty of intriguing stories and subplots. Among the most interesting is the chess match that will occur on the sidelines between Sean McVay of the Los Angeles Rams and Zac Taylor of the Cincinnati Bengals, who are the two youngest coaches in the NFL. By Jami Farkas The two know each other well. McVay hired Taylor on his staff in 2017 as an assistant wide receivers coach and promoted him to quarterbacks coach the following season....

If you have a savings account, you’re probably eking out a barely noticeable yield of 0.06% interest, which is the national average, according to the FDIC. That’s far cry from 1980 at the peak of the so-called Great Inflation, when yields on three-month CDs were approaching 20%. In fact, savings accounts have delivered such paltry returns for so long that they were losing money to rising prices long before inflation took off in 2021....

You entered the new year with a big resolution: paying down your debt. But as you look at that pile of paper bills and email notifications of payments due, you wonder just how to start making a dent in that debt. By Jami Farkas Student Loan Forgiveness: Will You Qualify for $0 Payments Under Biden’s New Plan? How To: Protect Your Financial Future With Gold and Silver See: Here’s How Much Americans Have in Their Savings Accounts in 2023...

A 2016 report by the National Association of Student Financial Aid Administrators showed that many students who are eligible for federal financial aid enroll in college without completing the FAFSA, and leave about $24 billion in federal aid on the table each year. By Georgina Tzanetos See: 6 Common Mistakes to Avoid When Filling Out Your FAFSA Find: Everything You Need to File a FAFSA by the June 30 Deadline...

The Federal Reserve announced earlier this month that it expects to raise interest rates earlier than anticipated. Policymakers foresee bumping interest rates at least twice by the end of 2023. The New York Times noted that this increase demonstrates the confidence in the economic rebound post-pandemic; however, more than half of officials had assumed that rates would stay near zero into at least 2024. By Josephine Nesbit Compare: What Would the Benefit of Raising Interest Rates Right Now Be?...

Novo Bank Overview Novo is an online banking option that offers a single product — a business checking account. The account makes it easy for small business owners, entrepreneurs and freelancers to manage transactions on the go. By Lydia Kibet About Novo Bank Features Fees Novo Bank’s Competitors Who Is Novo Best For? Mobile App 4.0 Ease of Use 4.2 Fees 4.0 Customer Service 3.5 Pros No minimum balance requirements or monthly fees ATM fee reimbursement No ACH transfer fees Integrations with top business tools like QuickBooks, Stripe, Xero and Wise Cons No physical locations No cash deposits Founded in 2016, Novo has no physical locations and is ideal for business owners who are comfortable with digital banking....

As the adage goes, every dog has its day. This is particularly true about shiba inu, a cryptocurrency named after and based on the Japanese dog breed. Following its introduction to the crypto world, the coin grew at an astounding rate for a time, garnering attention from investors and enthusiasts alike. By Scott Jeffries About Shiba Inu Worth Safety Where To Buy Investment Quality Read: 5 Things You Must Do When Your Savings Reach $50,000...

A majority of small business owners admitted feeling more empathetic toward their employees and colleagues since working from home during the pandemic, according to a new survey. By Yaёl Bizouati-Kennedy See: The 26 Highest-Paying Jobs That Let You Work From Home Find: 72% of Remote Workers Admit To Napping on the Job, Survey Finds The new survey, conducted by OnePoll in partnership with Field Effect, polled 1,000 small business owners to see how working remotely has impacted their company....

In an effort to protect the purchasing power of retirees, the Social Security Administration announces a cost-of-living adjustment (COLA) to Social Security payouts every year. The amount of the COLA is based on an index known as the CPI-W, which is the way the SSA monitors inflation. By John Csiszar Good Question: Can I Draw Social Security at 62 and Still Work Full Time? Find Out: 5 Things You Must Do When Your Savings Reach $50,000...

One month following Robinhood’s announcement that it would launch its own crypto wallet, the waitlist has topped 1 million customers, CEO Vlad Tenev said. By Yaёl Bizouati-Kennedy Learn: Shiba Inu Cryptocurrency at Record High Sunday Night, Tumbles After Musk Tweets He Doesn’t Own AnyDiscover: 8 Best Cryptocurrencies To Invest In for 2021 “We’re very proud of our cryptocurrency platform and giving people more utility with the coins they have,” Tenev, speaking at CNBC’s Disruptor 50 summit last week, said....

Students who received a Pell Grant to help pay for college could be eligible for double the student loan forgiveness under President Biden’s new student loan forgiveness plan. If you have federal student loans and earn less than $125,000 (or $250,000 for married couples), you can qualify for up to $10,000 in debt cancellation. But if you had a Pell Grant, you could receive up to $20,000 in loan forgiveness....

Preparing your Thanksgiving feast is pretty easy with Costco — the difficult part will be opting not to buy everything that looks tasty. Definitely do not go shopping when you’re hungry! By Jordan Rosenfeld Holiday Spending: Get Top Holiday Shopping and Savings TipsLearn More: If Your Credit Score is Under 740, Make These 4 Moves Now From appetizers and alcohol to main courses and kitchen supplies, you’ll find everything you could possibly need at the warehouse retailer to make your holiday delightful....

If you or someone you love has entered retirement or is about to soon, it’s probably safe to bet that your two biggest concerns are health and money. The first one is between you and your doctor. When it comes to navigating the complicated financial landscape of life beyond your earning years, however, you are not alone. By Andrew Lisa See Our List: 100 Most Influential Money ExpertsRead More: 7 Surprisingly Easy Ways To Reach Your Retirement Goals...

In 1986, Greg LeMond became the first American and non-European in general to win the Tour de France — his first of three titles. No American has legitimately won the Tour since. By Andrew Lisa Greg LeMond Net Worth: $40 Million Although he never competed in the Olympics, LeMond makes this list because he was chosen for the U.S. Olympic team in 1980, but America boycotted the Moscow Games. After that, he went pro and the Olympics didn’t allow professionals to compete until after he retired in 1996....

If you frequently end the month wondering where your money went, you probably aren’t using a budget. Alternatively, you could be using a budget that doesn’t work with your income schedule or financial goals. By Andrea Norris What It Is Advantages Disadvantages Creating a Zero-Based Budget Other Budgeting Methods Who It’s Right For Zero-based budgeting is a budgeting method that can help you gain better control over your spending, saving and debt repayment habits....

Rebalancing your investment portfolio is a time-tested method to help dampen volatility and improve long-term returns. However, rebalancing without a plan can be more damaging than helpful. There are times when you should definitely rebalance your portfolio, and other times when you might be better served by waiting. Given the current state of the economy and the financial markets, now might be one of those times when you should consider rebalancing....

Virtual job fairs weren’t born of necessity two years ago; they were around long before any notion of a global pandemic. Even as we continue to normalize our work back to pre-COVID times, informing and recruiting virtually has its advantages over in-person events. By David Nadelle See: 22 Side Gigs That Can Make You Richer Than a Full-Time JobFind Out: How To Get Rich With a Normal Job A virtual job fair, despite being digital, is still an event and it should be treated as such....