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Keeping your family’s and your own clothes clean can be a remarkably costly enterprise — especially if you have kids — and one you probably don’t get enough appreciation for. Household chores can add up, especially when you wash your clothes if you don’t pay close attention. If you want to save money on laundry, you can make smart changes like watching the time you do laundry and picking the right washing machine and the best laundry detergent for your budget....

When you retire and start collecting Social Security benefits, the amount of monthly income you get from the program depends on a number of factors, from the amount of money you earned during your career to the age at which you retire. By Vance Cariaga Find Out: 6 Types of Retirement Income That Aren’t TaxableNext: 5 Things You Must Do When Your Savings Reach $50,000 Lifetime earnings concerning work which resulted in you paying Social Security taxes will be the biggest factor in determining your benefits....

Paying off big debts that might have been around for decades is like a financial rebirth because money you once budgeted elsewhere is suddenly yours to keep. The temptation is to splurge on a new car or a dream vacation, but the smart move is to put that extra income to work for you. By Vance Cariaga See: 10 Reasons You Should Claim Social Security EarlyFind: 10 Best Countries To Live on Just a Social Security Check...

A credit card holder might need a credit line increase for many reasons. It may be to make a big purchase, transfer a balance from another card or improve a credit score. Requesting a Bank of America credit line increase is easy to do. Eligible cardholders can request an increase online, while others will need to request one by phone. By Andrea Norris How To Request an Increase How Often It’s Increased Automatic Increases Maximum Credit Line Hard or Soft Pull How To Request a Bank of America Credit Line Increase To determine if a card is eligible for an online credit line increase and to request the increase:...

There’s a near-record backlog of ships and several metric tons of goods waiting at the largest U.S. port in California. By Josephine Nesbit Learn: Expect Apparel Prices To Rise This Holiday Season as Cotton Costs Hit Decade-HighPrepare: Grocery Store Shortages Comparable to 2020 — Are You Prepared for Lack of Supply During the Holidays? On Tuesday, Los Angles had nearly 500,000 20-foot long shipping containers and 12 million metric tons of goods waiting for spots to open at the port to dock and unload, according to data pulled from the Marine Exchange of Southern California’s master queuing list, Business Insider reported....

On Jan. 19, the U.S. officially hit its debt ceiling, having spent all of the $31.4 trillion available for expenditures as allocated by the Treasury. In the days since, conversations have become heated about how the country will move forward to avoid a total spending freeze and a financial catastrophe. By Selena Fragassi See: Here’s How Much Americans Have in Their Savings Accounts in 2023Read: With a Recession Looming, Make These 3 Retirement Moves To Stay On TrackStudent Loan Forgiveness: Will You Qualify for $0 Payments Under Biden’s New Plan?...

Medicare and Medicaid are two separate programs created by the U.S. government to cover the medical bills of qualifying Americans. Medicare is a health insurance program primarily designated for people age 65 and older, although people under 65 with certain disabilities and conditions may also qualify. Medicaid, on the other hand, provides assistance with medical expenses for people of all ages with limited income and resources. Here are the main differences between Medicare and Medicaid, and how these programs impact the amount you’ll pay for medical expenses....

Retirement may not come easy for future generations. With talk of Social Security being depleted by 2035 and more people retiring later in life than they did 30 years ago (76% of Americans aged 65-69 are still working, per Yahoo), a robust, healthy retirement may be out of reach for kids today. By Selena Fragassi The Future of Finances: Gen Z & How They Relate to MoneyRead: 3 Things You Must Do When Your Savings Reach $50,000Find: How 2023 Recession Will Differ From 2008 and How You Should Prepare Differently...

One of the challenges facing gig workers is keeping up with different sources of income during the year — and remembering to pay taxes on all of them. Whether you’re a small business owner, independent contractor or someone with a bunch of side hustles, you might have dozens of different payees sending you 1099 forms during tax season. By Vance Cariaga See: 6 Types of Retirement Income That Aren’t TaxableFind: 3 Ways Smart People Save Money When Filing Their Taxes...

Your grandmother may have told you it’s rude to talk about money, but Gen Z isn’t buying it. By Cody Bay Check Out: 22 Side Gigs That Can Make You Richer Than a Full-Time JobExplore: Your Biggest Money Etiquette Questions Answered “Older generations were taught not to talk about money and that the subject itself is taboo,” said Elaine Swann, an etiquette expert based in San Diego. “Younger people tend to be much more open about all sorts of things – everything from how much they paid for something to how much they make....

There is a chance that you’re unaware of the date whereupon your taxes need to be filed — it’s April 18, by the way — but do you know all the choices you now have in terms of making your payment? By David Nadelle See: Taxes 2022: Do I Have to Pay Taxes on My Credit Card Rewards? Find: Will You Have To Pay Taxes on Your Stimulus Checks? Technology and online security protocols are continually advancing, and the IRS is adapting this year by providing several options where you can pay immediately or arrange to pay in installments....

The U.S. Department of Commerce and U.S. Census Bureau released an advance report today showing that retail sales were down this month, with a shift in consumer spending to travel and entertainment, Reuters reports. Retail sales dropped 1.3% month-over-month in May, while April’s sales data was revised to show a 0.9% increase in retail sales. By Dawn Allcot See:Bank of America CEO Says Consumer Spending is 20% Higher Than 2019Find: Signs We’re Bouncing Back: 6 Ways Americans’ Spending Has Changed Since Last Year...

If you’re wondering whether your small business requires a license, the answer is generally “yes.” Typically, licenses are required so that government entities — be they local, state or federal — can ensure that you’re complying with relevant regulations to operate safely and ethically and that you’re also paying your taxes. By John Csiszar See Our List: 100 Most Influential Money Experts Check Out: 22 Side Gigs That Can Make You Richer Than a Full-Time Job...

Market capitalization is the total value of a company’s shares on the stock market. Market cap is also known as the market value of equity, and it is a fairly straightforward mathematical calculation. However, market cap is just one way to measure a company’s worth. Here’s a look at the components of market capitalization, how to calculate it and how it differs from other types of evaluation you might use when choosing specific stocks to buy....

To qualify for Supplemental Nutrition Assistant Program (SNAP) benefits, which were previously referred to as food stamps, you need to meet certain eligibility requirements, including the amount of income you bring in. The program sets restrictions on both net and gross monthly income, broken down into household size. By Vance Cariaga To meet net monthly income eligibility standards, your income must be no more than equal to the U.S. poverty level....

Taxpayers who received advance child tax credit payments this year will need to report those payments on their 2022 tax returns. In some cases, they might need to repay the IRS if their payments exceeded the CTC amount they can claim on their returns. By Vance Cariaga See: Reconcile the Child Tax Credit on Your 2021 Tax Return — Here’s HowFind: Stimulus Update — You Could Still Qualify for a $1,400 Payment — Here’s What To Double-Check on Your Taxes...

Since the Reddit subthread r/WallStreetBets gained fame – and some level of notoriety – in the winter and spring of 2021, the social network has become a surprising source of investment tips and guidance. By Dawn Allcot Reddit stocks carry a level of intrigue that can make investing fun. What are some of the stocks that Reddit investors believe could break out this fall? What Stocks Are Reddit Stocks? Retail video game chain GameStop might be the first stock that comes to mind when people think of “Reddit stocks,” followed closely by AMC movie theaters and then, perhaps, retailer Bed, Bath & Beyond....

The holidays are here and parties and celebrations are in full swing already. With all the events along with your everyday responsibilities at work and at home, you may forget to pick up a gift for the Secret Santa game or White Elephant exchange you agreed to participate in a couple of weeks ago. By Cynthia Measom Holiday Spending: Get Top Holiday Shopping and Savings TipsCheck Out: 3 Easy Tips To Turn Your Credit Woes Into Wows...

When considering where to keep your hard-earned money, you want to be sure of two things: that the investment is safe and that it’s insured. This is especially true when it comes to certificates of deposit (CDs). By Preston Hartwick FDIC Insurance for CDs About FDIC Insurance Limits Risks What’s Not Insured The U.S. government established the Federal Deposit Insurance Corporation (FDIC) to insure deposits made to banks. Here are the details about FDIC insurance when it comes to CDs....

When the Biden administration passed the American Rescue Plan Act (ARP), it expanded the Child Tax Credit (CTC) temporarily for 2021, creating the largest U.S. child tax credit ever. The CTC has reverted to its original amount of $2,000 per child for the 2022 tax year, but the enhanced 2021 credit can still be claimed on your 2023 taxes. By David Nadelle See: What Is the Highest Income Level for Food Stamps in 2023?...