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The sudden rise of the coronavirus pandemic in early 2020 immediately plunged the U.S. into a recession. The GDP rate in Q2 2020 fell by a whopping 9.5% in the United States. By John Csiszar However, the economy reversed itself almost immediately. Unemployment rates began to fall, stock markets recovered, and Q3 2020 GDP skyrocketed 33.1%. This made the 2020 recovery the quickest on record. Find: Stimulus Updates To Know for Spring 2022 SNAP Schedule 2022: May Payments...

The Federal Reserve Board of Governors raised key interest rates 0.25% points on March 16 for the first time in three years, just as Russia’s widely condemned invasion of Ukraine upset global energy markets already weakened by the COVID-19 pandemic. By David Nadelle See: Tesla Hikes Prices as Musk Says There is ‘Inflation Pressure on Raw Materials’ Find: Are Bonds Still a Safe Investment During Inflation? In context, the benchmark interest rate increase comes only two years after the central bank slashed rates to near-zero to ease the economic pain caused by the COVID-19 pandemic....

Thanksgiving is coming up and this year, putting together a festive meal may be more stressful than ever. One of the realities of this year’s Thanksgiving is that many people will struggle to afford all of their usual holiday food staples because of inflated prices. By Jaime Catmull Holiday Spending: Get Top Holiday Shopping and Savings TipsMore: If Your Credit Score Is Under 740, Make These 4 Moves Now Nearly 1 in 2 Americans are now struggling to make ends meet financially amid soaring food and gas bills, according to new research from Monmouth University, making a traditional Thanksgiving dinner out of reach for many Americans....

Is it possible to get your back-to-school shopping list taken care of during a Costco trip? Absolutely! By Heather Taylor Here are some of the best ways savvy families, and Costco members, can save extra money and cross all the essential purchases off their back-to-school shopping lists. Here It Is: Our 2022 Small Business SpotlightFind Out: 7 Things You Should Never Do When Planning For Retirement Bulk Buy Traditional School Supplies Most families know Costco is a haven for stocking up on food, snacks and individual-sized drinks....

Many Americans are getting paid more now than they did in previous years, but that extra money isn’t doing much to offset spiraling inflation in most parts of the country, according to a new survey from The New York Times. By Vance Cariaga See: Retail Holiday Sales Increased 8.5%, Despite Omicron, Inflation and Supply Chain Disruptions Find: Planning a 2022 Wedding? Here’s How Inflation Will Affect Your Budget Only 17% of workers responded that they had received raises which kept up with inflation over the past year, according to a survey of 5,365 adults which was conducted last month by Momentive for The New York Times....

The toll inflation is continuing to take on Americans has translated to a record number of people taking 401(k) “hardship withdrawals,” according to new data, a phenomenon which Vanguard called “concerning.” In turn, this move could potentially have a longer-term negative impact and could mean difficult years when these Americans enter retirement. By Yaёl Bizouati-Kennedy See: 8 Purchases Retirees Almost Always RegretFind: 5 Things You Must Do When Your Savings Reach $50,000...

By Dawn Allcot See: Stimulus Update: How To Request an IRS Trace for Lost Child Tax Credit Payment Find: Stimulus Update: What COVID-Era Programs Will Continue in 2022? As of the 2022 tax season, the CTC is not taxable. However, parents must reconcile the amount they received with the amount they were supposed to receive based on their 2021 adjusted gross income. The child tax credits are not taxable and are not reported as income on your 2021 tax return....

The shift from commuting to work to working from home during the pandemic was an unexpected financial blessing for most, especially when gas prices were at their peak. By David Nadelle See: What Is the Highest Income for Food Stamps in 2022?Find: 22 Side Gigs That Can Make You Richer Than a Full-Time Job For drivers, working from home meant saving time and money by avoiding lengthy commutes. With these becoming a daily reality again, more people are rethinking their car use and looking to save money....

Taxpayers who received unemployment benefits in 2020 and were on the earlier side of filing 2020 tax returns are about to receive their refund. The IRS has started issuing automatic tax refunds to taxpayers who reported unemployment payments before the American Rescue Plan was signed into law in March, waiving federal income tax on a portion of unemployment benefits. By Georgina Tzanetos Under the American Rescue Plan stimulus relief bill, which went into effect on March 11, unemployment benefits up to $10,200 are exempt from federal income tax for taxpayers reporting an adjusted gross income of less than $150,000....

Give Gen Zers credit for one thing: They are not afraid to be creative when it comes to earning money. Many have embraced side hustles to develop new income streams, build more financial independence and gain more control over their lives and work. By Vance Cariaga But embracing the gig economy in such a big way also carries risks — including the risk of misjudging how much you might owe in income taxes....

You’ll be seeing Cinderella, Elsa and Buzz Lightyear in a lot more Target stores ahead of the holiday season, as the retailer has announced plans to expand the “Disney Store at Target” concept to triple its current number of locations. By Vance Cariaga Learn: What’s Next for Disney and Other Big Companies in 2021Read: Target Offers 100% College Tuition (Plus Textbooks) To Attract Workers, Following In Walmart’s Footsteps Target will add the Disney shops to more than 160 of its stores across the United States by the end of the year, USA Today reported today....

Set to resume production at its Shanghai factory, Tesla has now further delayed the reopening following COVID-19 lockdowns. By Yaёl Bizouati-Kennedy See: 22 Side Gigs That Can Make You Richer Than a Full-Time JobFind: Don’t Get Suckered Into Paying For These 20 Useless Things at Car Dealerships The Shanghai factory, located in the Pudong district east of the city’s Huangpu River, suspended production from Monday to Thursday after the city launched a two-stage lockdown to combat a surge in COVID-19 cases....

Before you begin to build your fortune by investing in stocks, you will have to open a brokerage account. A brokerage account is simply an investment account where you can deposit your money and then use it to buy or sell stocks, bonds, mutual funds or other types of assets. So, even if you’re a complete do-it-yourself trader working with an online-only broker, you’ll still need to open a brokerage account....

Tesla CEO Elon Musk has been very busy recently, most notably with his battle with Twitter following his bid to acquire the social media platform. By Yaёl Bizouati-Kennedy See: 6 Alternative Investments To Consider for Diversification in 2022Find: 7 Financial Habits That Improve Your Daily Life But the past few weeks also saw a string of additional major developments for Tesla, including a factory closing in Shanghai due to COVID-19 lockdowns, an opening of a Gigafactory in Austin and its “killer opening party,” the announcement of a stock split and a drawn-out battle with the Securities and Exchange Commission (SEC) over tweets....

This year, Presidents Day is Monday, Feb. 21. Presidents Day is a federal holiday and all Social Security offices will be closed. Federal benefits are not paid on federal holidays. By Heather Taylor Learn: Is Your Social Security Payment Late? Here’s What To DoExplore: 17 Tips To Live Comfortably Off Just a Social Security Check Will Social Security checks be delayed due to Presidents Day? No. The next payment date is Wednesday Feb....

You have heard of product testing, but what is it? It’s just what the phrase implies — testing a product from the beginning to the end of its development. First, the concept of the item itself is evaluated for its viability in the marketplace, and then the process advances through phases such as quality assurance and A/B Testing to weigh dueling versions of the product. One of the steps in the sequence is user testing, during which companies put the goods in the hands of consumers to try out and provide feedback....

Although gas prices continue dropping in the U.S., we are still facing record-high prices that exceed last summer’s national average, according to AAA. If you are wondering about ways to get free gas, you’re not alone. By Dawn Allcot Ways To Get Free Gas 20 Ways To Get Free Gas There are many ways to not just save on fuel for your vehicle, but ways to get free fill-ups. And yes, they are all completely legal....

An employer-sponsored 401(k) plan encourages you to save for retirement by allowing pretax contributions from your paycheck and tax-deferred growth on your investments. The catch is that you can’t withdraw the money before you turn 59½ years old unless you are experiencing a serious financial hardship or are willing to incur a 10% penalty — and both options have additional consequences you need to consider before making an early withdrawal....

With autumn in full swing, it’s time to start focusing on cozy fall days and all the delicious food that comes along with it, like all the holiday goodies and treats your family loves to have this time of year. By Jake Arky While you probably won’t want to buy all of your food in bulk this fall, there are a few food items available at Costco that you should be sure to pick up on your next trip....

Although there’s still plenty of food to go around, supply chain disruptions could make Thanksgiving dinner staples a little harder to find this year. According to market research firm IRI, retailers were running lower on basic Thanksgiving items in the week ending Nov. 7 compared to the same time last year. By Josephine Nesbit Compare: The 6 Best Deals From Costco’s November Coupon Book Explore: How To Save Money on Thanksgiving Dinner — Even on a Tight Budget...