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Home is where the heart is, or, as this past year has taught us, where you may just end up spending pretty much all of your time trying to elude a pandemic. By Nicole Spector Since the onset of the pandemic in March 2020, Americans have done just about everything from their respective domiciles, be it shopping, working, exercising, homeschooling, etc. Through it all, many have felt that they need more space, with some families setting up fort in new “pandemic destination cities“, where you can get more square footage for less....

Consumer spending, also known as personal consumption expenditures, is the value of all goods and services bought by a country’s citizens. Personal consumption is a critical aspect of the U.S. gross domestic product. For the first quarter of 2021, consumer spending amounted to 68.3% of the entire U.S. GDP. Consumer spending is important because it keeps businesses afloat, which allows them to hire workers. However, when consumers go on a spending binge and create more demand for products than there is supply, inflation can result....

By Andrew Lisa More Lessons: What Gen Z Can Learn From Millennials’ Money Mistakes And: What Gen X Can Learn From Boomers’ Money Mistakes Millennials Should Break Retirement Savings Tradition Although they didn’t save as much as their parents, Gen Xers tended to save the exact same way when they did. “One common mistake we see with Gen Xers who have been good savers is that a large majority of their retirement savings, if not all of it, is in pre-tax accounts such as 401(k)s and traditional IRAs,” said Matt Hylland, a financial planner at Arnold and Mote Wealth Management in Cedar Rapids, Iowa....

If you ask people who work in the service industry whether men or women are better tippers, you’ll likely get a range of responses. By Cody Bay “Men,” “other people who work in the service industry” and “smokers” were among the responses to this question when recently posed on social media. Explore: Your Biggest Money Etiquette Questions AnsweredFind Out: Do’s and Don’ts of Dollar Store Shopping “When I was younger, I would have said men, because men just make more than women,” said Amee Shepard, who worked as a bartender in Seattle for more than a decade before quitting during the pandemic....

America had a record 10.1 million jobs openings in June, but businesses are struggling to fill these open positions, CNN reported. So what’s causing this mismatch between worker supply and demand? By Gabrielle Olya Get the Money You Want: 5 Things To Negotiate at Your Job Other Than SalaryFollow Along: 31 Days of Living Richer According to Hourly Workers, These Are the Primary Reasons That Businesses Are Facing Difficulty Hiring A recent survey of over 3,000 hourly workers conducted by Branch is shedding some light on the divide between worker supply and demand....

The bear market that’s arrived on Wall Street carries different challenges for different investors, with younger folks generally better equipped to weather it because they have more time to wait for the rebound. That doesn’t mean Gen Z investors should wave it off as no big deal, however. By Vance Cariaga See: Should You ‘Buy the Dip’ During a Bear Market — Or Wait It Out?Find: How Long Do Bear Markets Normally Last?...

Looking forward to the day you retire? It’s fun to daydream about all the hobbies you’ll have time for and the trips you’ll take, but preparing for retirement is another thing entirely. By Jenny Rose Spaudo Explore: Your Biggest Money Etiquette Questions AnsweredRead More: 5 Things You Must Do When Your Savings Reach $50,000 Not Diversifying Investments According to the study mentioned above, 52.8% of retirees regret not saving earlier, and 32% aren’t sure whether or not they’ll be able to live comfortably for the remainder of their retirement....

Not storing your food correctly is a quick way to make all your groceries go to waste, not to mention the foodborne illnesses you can get by consuming food that has gone bad. By Sam DiSalvo The average monthly grocery bill for a family is $387. Wasting this much money simply because of food storage mistakes is not worth it. Here’s what not to do to make your groceries last longer....

Increased security concerns regarding credit cards have caused many users to switch to other options including virtual credit cards. So, if you frequently use credit cards for online transactions, virtual credit cards can be a good option. By Suchetana Bhattacharyea About Virtual Cards X1 Card Citi® Diamond Preferred® Card Citi® Double Cash Card Capital One Venture X Rewards Apple Card Read: 3 Easy Tips To Turn Your Credit Woes Into Wows...

The year opened with a debate over the American Rescue Plan, which would go on to boost household income by $1,400 — $5,600 for a family of four — through a third round of direct Economic Impact Payments. Now that the year is over, the big question is whether 2022 will see a fourth round of payments, even if the checks aren’t as big. By Andrew Lisa See: Stimulus Checks Totaled Over $850 Billion: See How That Money Was Spread OutSocial Security 2022: How the COLA Will Increase Benefits for the Average Senior Couple...

Originally intended to track Social Security contributions, your nine-digit Social Security number now is used for a wide variety of purposes. By David Nadelle See: Social Security Updates To Know for August 2022Find: 7 Surprisingly Easy Ways To Reach Your Retirement Goals Although some U.S. institutions will accept a taxpayer or employer identification number, virtually every major financial task in life — filing your taxes, opening a bank account, applying for a federal loan, passport, driver’s license or public assistance program, enrolling in Medicare, buying a car or home — requires you to present your Social Security card for identification and tracking purposes....

If you’re already making a list and checking it twice ahead of the 2022 holiday shopping season, you might want to check the prices of Christmas trees. They’re expected to be more expensive this year because of higher operating costs tied to the soaring inflation rate. By Vance Cariaga Inflation Relief Checks: When Will You Get Yours?See Why: This Credit Score Mistake Could Be Costing Millions of Americans An August survey of 55 wholesale Christmas tree growers conducted by the Real Christmas Tree Board, an industry group, found that 71% of respondents expect to raise the wholesale prices they charge retailers by 5% to 15% vs....

Holiday shoppers feeling the pinch of inflation this year may be tempted to pay for gifts using the money in their emergency fund. Despite feeling pressured to do it for the purpose of having the best holiday ever, the general recommendation is to avoid this impulse as much as possible. Here’s why it isn’t a good idea to use your emergency fund to pay for holiday gifts. By Heather Taylor Take a Look Back: 2022 Year in ReviewTry: 3 Easy Tips To Turn Your Credit Woes Into Wows...

There might be hundreds of dollars out there you don’t know you have. But, you have to know where to look to find your unclaimed money. Find out where to check regularly to find surprise money. Hint: It’s not just your jacket pocket. By Sam DiSalvo Discover: Lesser-Known Side Hustles To Earn Some Extra Cash Also See: How To Make Extra Cash While Decluttering Your House Unclaimed.org According to the National Association of Unclaimed Property Administrators (NAUPA), 1 in 10 Americans has unclaimed property or money....

Gold, which is known for being an inflation hedge, has not been spared by the global volatility of the markets. Indeed, the precious metal is on pace to record two consecutive years of declines for the first time since 2015, according to The Wall Street Journal. By Yaёl Bizouati-Kennedy See: 7 Ways To Know You’re Ready To Start Investing Find: 5 Things You Must Do When Your Savings Reach $50,000...

Inflation has been hitting Americans hard, everywhere from the gas pump to the grocery store. In July, the Consumer Price Index rose 8.5% compared to the prior year — an improvement over last month, but still quite high. By Casey Bond Explore: Your Biggest Money Etiquette Questions AnsweredCash App Borrow: How To Borrow Money on Cash App And as we head into the last few weeks of summer, there’s another major event being impacted by inflation: back-to-school shopping....

If the Walt Disney Co. ever makes a movie about a former CEO who stepped down from the job and then shockingly returned less than two years later, it won’t have to do much research. The producers can just talk to Bob Iger from his executive suite at Disney, where he was rehired as CEO on Nov. 20, 2022, after having last held the position nearly three years earlier. By Vance Cariaga See: How Rich Is Former President Donald Trump?...

Road trips are often a much cheaper option compared to flying; however, the expenses can add up quickly with all the costs of motels, gas and food. In order to leave room in the budget for road trip snacks and ease anxiety, let’s learn from some experts how to best prepare and budget for excursions in the car. By Maddie Duley Find Out: Surprising Things You Can Buy With Food Stamps in the SouthMore: Best Cities To Retire on a Budget of $1,500 a Month...

After a loved one passes away, the person in charge of settling the deceased’s estate is responsible for filing a final individual income tax return and the estate tax return when due. By Josephine Nesbit See: 10 Reasons You Should Claim Social Security Early Find: The Downsides of Retirement That Nobody Talks About According to the IRS, you will need to file Form 56, Notice Concerning Fiduciary Relationship, to notify the agency of a fiduciary relationship....

Despite “working tirelessly” to alleviate its massive backlog of income tax returns, the Internal Revenue Service’s (IRS) managing of its overall backlog plight may be worse than it claims. By David Nadelle See: 18% of Americans Expected a Tax Refund of at Least $1,500 — Was That Realistic?Tax Refund Delays: Despite Best Efforts, IRS Is Still Experiencing Backlog and Staffing Issues The IRS announced Tuesday that it is diligently working through all outstanding tax returns and should be completing all paper individual tax returns without errors received in 2021, or Form 1040 filings, by the end of this week....