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…
Dept Managmnt
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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In case you haven’t heard, the Mint budgeting app is shutting down. And their users are being asked to move to . . . Credit Karma. But if you’re a Mint user who thinks you’ll be able to keep budgeting the same way, you’re going to be pretty disappointed. Because,…
As the holiday season approaches, the excitement of festivities, gatherings, and gift-giving often comes with a looming concern of financial strain. The key to enjoying this time without compromising your financial health lies in refreshing your budget. A well-thought-out budget allows you to partake in the joy of the season…
Morsa Images/ Getty Images; Illustration by Austin Courregé/Bankrate A certificate of deposit (CD) is a time deposit account in which your money accrues interest at a fixed yield for a set period of time, or term. CD terms typically range from as short as a few months to as long…
More Americans are expressing optimism about their finances as pandemic-era price hikes and the “vibecession” increasingly fade away. Bankrate’s latest Financial Outlook Survey finds that 44 percent of Americans think their finances will improve in 2025. This compares with 37 percent who said in a 2023 survey that they expected…
We could all use some extra cash right now—for the next vacation, the next grocery run, or the next car repair that’s bound to happen. Well, good news! There’s a money trend that’ll help you save some bucks and create more breathing room in the budget—starting this month. It’s called…
Martinns/GettyImages; Illustration by Hunter Newton/Bankrate A money market account is a type of savings deposit account that tends to offer check-writing privileges and a debit card for ATM access to your savings. Typically, savings accounts usually don’t let you write checks from the account, making money market accounts a unique…
A covered call is an options trading strategy that offers limited return for limited risk. A covered call involves selling a call option on a stock that you already own. By owning the stock, you’re “covered” (that is, protected) if the stock rises and the call option expires in the…
If you’re thinking about buying or selling a house and wondering about the housing market, you’re not the only one. The real estate market has seen a lot of unusual trends in the past couple of years, so it makes sense that you’d want the latest market update before you…
Images by Getty Images; Illustration by Issiah Davis/Bankrate The average savings account rate is a benchmark for the overall interest-rate environment, but it’s not a rate you should settle for. Rather, aim for an annual percentage yield (APY) many times the national average, such as those offered by high-yield savings…
With all the excitement surrounding Bitcoin’s recent climb to over $100,000, many investors — new and experienced alike — are wondering if it’s time to hop on the crypto bandwagon. But don’t move too fast. Crypto is highly volatile and not backed by business performance or concrete assets like cash…
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