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The prospect of a 2023 recession will bring no joy to the Social Security Administration, which is already battling everything from inadequate funding to proposed legislation that would reduce benefits for future generations. By Vance Cariaga See: 6 Shakeups to Social Security Expected in the New YearFind: 5 Things You Must Do When Your Savings Reach $50,000 A recession would put even greater financial pressure on the SSA and its beneficiaries, according to a press release from the Senior Citizens League, a nonpartisan seniors advocacy group....

One of the reasons Social Security checks can cover bills for some retirees and not others is because benefits are based on income earned before retirement. The more you earn working, the more you pay into the Social Security system, and the higher your benefit. Two retirees can work the exact same number of hours and years but still have drastically different Social Security checks. By Vance Cariaga See: 6 Types of Retirement Income That Aren’t TaxableLearn: With a Recession Looming, Make These 3 Retirement Moves To Stay On TrackExplore: All the States That Don’t Tax Social Security...

States that withdrew early from expanded federal unemployment benefits enjoyed slightly higher job growth than those that didn’t, according to a new study, but it came with a price: lower consumer spending that likely hurt their economies. By Vance Cariaga See: Inflation’s Ups and Downs: How It Impacts Your Wallet Find: 5 Tips for Taking Advantage of a Recovering Economy The 26 states that ended benefits early — including a $300 weekly supplement tied to the COVID-19 pandemic — saw a nearly $2 billion reduction in household spending, CNBC reported Monday, citing data from a new paper authored by economists and researchers at Columbia University, Harvard University, the University of Massachusetts-Amherst and the University of Toronto....

Though universities and state colleges tend to get the most acclaim, they’re quite expensive and many students seek more affordable alternatives. In fact, more than 10 million students were enrolled in community college in the 2020-2021 school year (about 6.2 million for credit and a bit more than 4.1 million not for credit), according to the American Association of Community Colleges. By Andrew Lisa President Joe Biden made two years of free college tuition one of his top priorities from the start of his campaign....

The Federal Reserve’s move on May 4 to raise its benchmark interest rate by a half-percentage point was greeted with wild applause on Wall Street, with stocks rising sharply on the hope that the hike can tame inflation while also helping the U.S. avoid a recession. By Vance Cariaga Discover: 27 Ugly Truths About Retirement More: 10 Kitchen Renovations That Will Hurt Your Home’s Value The Dow finished the day up 2....

If you are paid hourly and work more than 40 hours per week, your employer should pay you overtime pay. This can vary, but most employers pay time and a half for any hours over 40 that you work. To make sure you are being paid correctly, it’s important to know how to figure overtime pay for your hourly rate. By Karen Doyle Time and a Half Calculating Overtime Examples Qualifying for Overtime Pay Time and a Half The common expression for overtime pay is “time and a half....

The holidays are often a busy — and expensive — time of year. Americans are expected to spend $1,455 on gifts per household this year. Due to inflation, prices are up 10%. Americans are giving fewer gifts than they did last year, however the amount is still estimated to be about the same. By Sam DiSalvo Zelle Facebook Marketplace Scam: How To Recognize and Avoid This ScamCheck This: If Your Credit Score Is Under 740, Make These 4 Moves Now...

Cryptocurrencies have been making their way into mainstream investing for quite some time, including in retirement plans. Despite the downturn the space has been suffering for the past few months, some investors are still banking on the assets for the long term. But not all generations share the same stance regarding incorporating digital assets in retirement plans. By Yaёl Bizouati-Kennedy See: 7 Surprisingly Easy Ways To Reach Your Retirement Goals Looking To Diversify in a Bear Market?...

To say the 2021 real estate market was competitive might be the understatement of the year — at least in many areas. White hot buyer demand from 2020 carried over into the new year, creating headaches for buyers and big profits for sellers. By Jennifer Taylor Good To Know: 20 Home Renovations That Will Hurt Your Home’s ValueFind Out: 8 Affordable Ways To Upgrade Your Primary Bedroom Inventory hit an all-time low from about May 2020 through May 2021, said Jonathan Spears, a real estate agent and founder of Spears Group, based in Santa Rosa Beach, Florida....

The real estate market has been a bit chaotic for quite some time now with prices in many places rising rapidly. As a result, you might be wondering which locations you should consider when buying a new home. Yes, the United States is large and complex, and there are bound to be nuances and exceptions. By Bob Haegele Read: Craziest Things That Kill Your Home’s Value Find Out: Here’s Where Home Prices Are Headed in 2022, According to Experts Nevertheless, there are certain locations that tend to be better than others, especially in this overheated market....

Reviewing Arrived’s strengths and weaknesses is a good way to get a feel for the platform. By Vance Cariaga What Is Arrived? Who Is It Best For? How it Works Arrived vs. Competitors Final Take Accessibility 4.5 Account Minimum 4.5 Risk/Reward 4.0 Breadth of Products 3.0 What Is Arrived? Arrived Homes is a real estate investment platform that lets you invest in fractional shares of rental homes for as little as $100 per house or as much as $20,000....

By Gabrielle Olya Have a Small Business That You’d Like To See Highlighted? Nominate Them Here Every month, as part of our Small Business Spotlight series, we’re featuring the top-nominated small businesses from around the U.S. Congrats to our August winners! From New York to California: A Spotlight on Beloved Small Businesses Across All 50 StatesRead: Small-Business Ideas for a Post-Pandemic World More From Your Money: Choose a high-interest saving, checking, CD, or investing account from our list of top banks to start saving today....

Investors should always expect some turbulence when it comes to navigating their assets through tough economic times. By David Nadelle See: How To Convert Your Savings and Investments Into a Steady Stream of Retirement IncomeDiscover: As Tech Selloff Continues, Focus on Secular Winners, Analyst Dan Ives Says However, these are unusually tougher times than we are accustomed to. Last week, the S&P 500 was down 21% since its most recent peak in January, and its benchmark index is at its lowest level since March 2021, per CNBC Select — down 22%....

Food price inflation slowed in December 2022, although it continues to rise at a higher rate than most consumer goods, while prices of meat, poultry and eggs shot up for the month after declining in November. By Vance Cariaga Learn: What Does December’s Consumer Price Index Report Mean For You? Experts Weigh InDiscover: How To Get Free Gift Cards From Your Everyday PurchasesConsumer Price Index: December Inflation By The Numbers...

Apple Pay can be a convenient way to buy food, but this payment option may be unavailable at some restaurants and shops. You may be wondering: Does Wendy’s take Apple Pay? The answer is yes — as of Feb. 28, 2022, Wendy’s officially takes Apple Pay through its iOS app. By Monica White Apple Pay at Wendy’s Accepted Forms of Payment Through this versatile app, Wendy’s customers can order food for take-out or dine-in or at the drive-thru....

You’re on a budget, so as a savvy shopper, you try to find all the household items you need at Dollar Tree or Family Dollar. Both stores offer great deals, but you feel like one might have better savings opportunities than the other. By Jennifer Taylor See: 9 Costco Brand Items That Aren’t Worth the MoneyImportant: If Your Credit Score Is Under 740, Make These 4 Moves Now Bounty Essentials Paper Towels Dollar Tree: $1....

What do states including New York, California and Florida all have in common? These three states have some of the highest rents in the United States. By Heather Taylor In tight, popular rental markets, how can renters navigate finding a place to rent? Follow these tips to gain a competitive edge as a renter. Work With an Experienced Real Estate Agent Renters attempting to navigate a competitive real estate market should not go it alone....

Massachusetts residents who qualify for Supplemental Nutrition Assistance Program benefits now have another option to buy groceries online after the Big Y supermarket chain was added to the list of online retailers. By Vance Cariaga SNAP Benefits: How Long Do They Last?Find: 10 Items That Are Always Cheaper at Sam’s Club In a Nov. 14 announcement, Gov. Charlie Baker and Lt. Gov. Karyn Polito said Bay State residents who receive SNAP can use their Electronic Benefits Transfer cards to make online purchases at Big Y, which operates 70 supermarkets throughout Massachusetts and Connecticut....

Whether expected or not, getting laid off from a job can be a panic-inducing moment. It can mean very different things depending on your situation, like whether you will receive a severance package or not. By Cody Bay Explore: Your Biggest Money Etiquette Questions AnsweredMore: 5 Things You Must Do When Your Savings Reach $50,000 “In a normal environment, unemployment is already difficult,” said Mindy Yu, director of investing for Betterment at Work, which provides and manages 401(k) plans for businesses....

Although sales rose at a slower pace than the 8.5% increase in December 2021, U.S. holiday retail spending outpaced expectations and remained strong in the face of stubbornly high inflation this year. By David Nadelle Holiday Return Policies: Don’t Be Discouraged From Saving — Learn New RulesExplore: What Are the Best Months To Purchase Clothing in 2023? According to Mastercard SpendingPulse, American retail sales rose 7.6% year-over-year (YOY) this holiday season from Nov....