Tired of constantly overspending? Budgeting can help you take control of your money. But if you want to actually stick to your budget every month, you have to track your expenses. Why is tracking expenses throughout the month so important? Because it helps you know where your money is going…
Claiming dependents correctly could help reduce your tax bill. A family with two qualifying children may potentially receive several thousand dollars in combined tax credits, including the Child Tax Credit and the Child and Dependent Care Credit. Someone supporting an elderly parent may also qualify for additional benefits, including head…
A successor beneficiary is someone who inherits an individual retirement account (IRA) from a prior beneficiary rather than directly from the original owner. That second-generation inheritance can affect distribution deadlines, annual required minimum distributions (RMDs) and tax-planning considerations. Because of these implications, it’s especially important to understand the original beneficiary’s…
So, you want to know the best time to buy a house. That way, you’ll be set up for success as you make one of the biggest purchases of your life. What’s the Best Month to Buy a House? Traditionally, late summer and early fall are the best times…
Trending
Spotlight This Week
More Articles
Personal Finance
While there has been much conversation on not buying from companies with poor diversity, little has been said about investing…
Lifestyle inflation occurs when your expenses increase as you earn more income. It can start subtly—dining at pricier restaurants, upgrading…
Chime, the largest digital bank in America, grew its revenue to $1.7 billion in 2024, an increase of roughly 30%…
Technology has transformed some parts of the daunting homebuying process–making it easier to search and compare properties online, to prepare…
Featured Articles
Retiring at 65 with $1.6 million in a 401(k) could set you up for a much larger tax bill 10 years later. As the account continues to grow, RMDs may eventually force sizable taxable withdrawals, potentially pushing more of your retirement income into higher tax…
Dept Managmnt
In her half-century on earth, Torry Holmesly has been subjected to neglect, violence, eviction and homelessness. So, if you ask her about what…
Banking
Chime, the largest digital bank in America, grew its revenue to $1.7 billion in 2024, an increase of roughly 30% from 2023, according…
Credit Cards
All News
Buy Now, Pay Later (BNPL) options are becoming increasingly popular for travel expenses such as flights, hotels, cruises, and vacation packages. While BNPL may offer flexibility, it is important to understand the potential costs and risks before committing to a payment plan. This article covers how BNPL works for travel,…
The President’s proposal to cap credit card rates at a maximum of 10% over the next year has gotten a lot of attention in the midst of a national affordability crisis. It’s understandable. Rates are flashy, and it sounds good to talk about bringing them down. But I’d argue they…
Claiming a dependent does not reduce the taxes taken from each paycheck by a fixed amount. Instead, dependents may make you eligible for federal tax credits, and accounting for those credits on Form W-4 can change how much federal income tax your employer withholds. The impact that ultimately has on…
Skipping a 401(k) match at age 40 could cost you more than the amount your employer would have contributed. You also give up potential investment growth on that money during the next 25 years. Missed contributions and earnings can add up to a substantial gap in your retirement savings.How Much…
Back in 2017, Congress delivered a massive tax overhaul for Americans, cutting tax rates, doubling the standard deduction, capping certain deductions, and simplifying the tax code for millions of families. But they slapped an expiration date on most of those changes—and those changes were finally set to expire at the…
Summer is ending soon, and a new school year is fast approaching. It also brings expenses like clothes, shoes, and supplies. With costs on the rise, back-to-school shopping can feel overwhelming. This article covers tips for shopping without the overspending or accumulating additional credit card debt. Key Takeaways Start with…
Debt settlement companies technically aren’t allowed to charge fees until after lowering a consumer’s debt. But a loophole in the Telemarketing Sales Rule — and a mish-mash of federal and state laws — allows predatory firms the opportunity for exploitation. A growing corner of the $23 billion debt relief industry…
The 65-day rule can give certain trusts more flexibility when deciding when to distribute income to beneficiaries. The IRS may treat an eligible distribution made during the first 65 days of a new tax year as though it occurred in the prior year. This can potentially shift taxable income from…
A mega backdoor Roth 401(k) can give high earners a way to save even more for retirement. This strategy allows them to put substantially more money into Roth savings than standard contribution limits normally allow. The strategy uses after-tax 401(k) contributions that are later converted to Roth, potentially creating years…
Finance is different for everyone. We all inhabit our own money realities: white people and people of color, Gen Z and baby boomers, high earners and those with lower incomes. Women live in their own financial reality, too. One where the gender pay gap is a force holding back their…
Editor's Pick
