Key takeaways The Federal Reserve’s interest-rate decisions have a wide-ranging influence on Americans’ personal finances, affecting their job security, financing costs and the direction of the economy. When the Fed’s key interest rate falls, borrowing costs for consumers also decrease, influencing the cost of financing purchases with credit cards, car…
Images by GettyImages; Illustration by Hunter Newton/Bankrate Index funds are one of the most popular types of investments because of their simplicity, low cost and diversification benefits. In general, index funds seek to replicate the performance of an underlying index comprised of stocks or bonds, which means they aren’t managed…
Can you count a local sports team sponsorship as a business expense? If you discuss your advertising strategy over coffee with your partner, is it considered a business lunch? And just what does a certified public accountant do when you hand them a pile of gas receipts? If you’re a…
Worries about inflation, high interest rates and chaotic global events have kept experts and investors queasy about the stock market and the economy overall. All that fear and uncertainty has led to whispers about another recession or a potential stock market crash—the first since the start of the coronavirus pandemic…
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A perfect storm is brewing for millions of federal student loan borrowers, who may experience dramatic increases in their monthly…
As the Biden administration exits Washington, President-elect Donald Trump inherits a federal student loan system that looks much different than…
Republican lawmakers in Congress are circulating a number of proposals to cut federal spending as part of a massive bill…
Washington is abuzz over whether Congress will address President-elect Donald Trump’s ambitious policy agenda in one bill or two. But…
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Key takeaways You can write checks against a line of credit with credit card convenience checks. Convenience checks are often processed as a cash advance, which can be expensive. It’s a good idea to consider alternatives before using a convenience check to borrow against your…
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Key takeaways A balance transfer fee is what credit card issuers charge when you transfer debt, usually credit card debt, to another credit…
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No matter how often bank regulators, international standard setters, rating agencies, or financial reform advocates warn banks that climate change is serious, the…
Credit Cards
Key takeaways The Bank of America® Unlimited Cash Rewards credit card offers a flat 1.5 percent cash back on all purchases. Bank of…
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Yoshiyoshi Hirokawa/Getty Images With interest rates higher than they’ve been in some time, savers and investors are once again able to earn decent rates of return in relatively safe investments such as money market funds. Money market funds invest in short-term securities issued by governments and corporations and are available…
Key takeaways The business loan agreement is the document that outlines everything about the loan and what is expected of you and the lender. The loan agreement includes various information, such as the loan amount, interest rate and fees and what happens if you default or break the agreement. Take…
Credit Sesame examines whether the bull market upward momentum will persist in 2025 amidst rising inflation, high stock valuations, and shifting consumer spending. Investors enjoyed significant gains last year as falling interest rates and a resilient economy drove the stock market to new record highs, fueling a bull market. In…
The pandemic may be officially over, but the price you’re paying for groceries and fuel is an irritating reminder that we’re still seeing the effects of COVID-19 play out in the economy. And it’s not just your wallet that’s feeling the pressure. It’s the weird job market we’re seeing in…
Catherine Delahaye/Getty Images Key takeaways The Downpayment Toward Equity Act is a proposed bill that would grant up to $25,000 to first-generation first-time homebuyers in the U.S. who meet certain eligibility standards. The grant funds could be put toward various homebuying expenses, including the down payment, closing costs or a…
Gold and silver are two popular investments for those looking for assets that can be both a store of value and an inflation hedge. These precious metals are both well regarded and have long histories, but they offer different kinds of benefits and safety, and investors should know how they’re…
Medical expenses can add up fast. If you’re wondering if you can deduct medical expenses from your taxes, the short answer is: maybe. There are a few key things to keep in mind when you’re figuring out which medical expenses you can and can’t deduct. We’ll break it down for…
As the calendar turns to January, it’s the perfect opportunity to hit the reset button on your financial habits. The beginning of a new year is often filled with possibilities and aspirations for personal growth, making it an ideal time to reevaluate and rejuvenate your financial strategy. Crafting a new…
Members of the military and armed forces tend to lead busy lives and are often not on the same day-to-day work routine as everyone else. When it comes to investing, military members also do not have access to all of the same investment plans that workers in the private sector…
Key takeaways Unsecured loans aren’t backed by collateral, making them a higher risk for lenders Unsecured business loan rates vary, ranging from 7 percent to 75 percent APR With good credit, you could secure a low interest rate on an unsecured loan — between 8 percent and 7 percent APR…
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