D3sign | Moment | Getty Images More retirement savers have taken loans from their 401(k) accounts over the past year, suggesting that U.S. households are borrowing more readily as they feel the pinch of inflation, experts said. “I think 401(k) loans — like credit card debt — are kind of leading indicators of economic stress
Personal finance
In this article MTCH BMBL Follow your favorite stocksCREATE FREE ACCOUNT D3sign | Moment | Getty Images Channing Muller moved to Chicago in May from Chattanooga, Tennessee. Her main goal in the new city was to find a partner. Already a Bumble user, before long, she was subscribed to three more dating apps: The League,
Momo Productions | Digitalvision | Getty Images Over the last three years, while student loan payments were on pause, many borrowers probably thought, “I could get used to this.” Fortunately, you may be able to finish paying off your student debt sooner than you thought, experts say. They shared tips on how to make that
Westend61 | Westend61 | Getty Images You may want to think twice before scanning that QR code. The codes — a digital jumble of black and white squares, often used for storing URLs — have become seemingly ubiquitous, found on restaurant menus and in retail stores, for example. However, they can pose risks for the
A simplified Free Application for Federal Student Aid is set to roll out by the end of the month. However, the new FAFSA may launch with outdated inflation figures, which could mean many students “will get less financial aid than they deserve,” according to higher education expert Mark Kantrowitz. “It is a pretty big deal,” he said. “We are
D3sign | Moment | Getty Images Millions of people move money from a workplace 401(k) plan to an individual retirement account each year. Such “rollovers” are common when workers retire or take new jobs at different employers. More than 5.6 million people rolled a combined $618 billion into IRAs in 2020, according to the latest
Young people using cellphones. Filippobacci | E+ | Getty Images Gen Z women are driving spending trends on TikTok. Women in their 20s spend more time on the short-form video app than male peers of their generation, and it’s exposing them to a financial risk. “TikTok is a Gen Z women-centric app and it is
Vesna Andjic | E+ | Getty Images With roughly one month left in 2023, there’s still time to reduce your tax bill or boost your refund, experts say. Typically, you can expect a federal refund when you overpay annual taxes or withhold more than the total owed. The average refund for 2023 was $3,054, as
JGI/Jamie Grill If you funneled cash into money market mutual funds in 2023 amid rising interest rates, you may have a surprise tax bill in April, experts say. Investors and institutions have piled $5.84 trillion into money market mutual funds, as of Nov. 29, according to the Investment Company Institute, and many funds are paying
Tom Werner | Digitalvision | Getty Images As 2023 comes to an end, you may have just a few weeks left to use any leftover money in your health-care flexible savings account. Employer-sponsored FSAs allow you to save pretax dollars and use the funds for qualified medical expenses. An individual can save up to $3,050
Pedestrians walk in front of the IBM building in New York. Scott Mlyn | CNBC IBM, which decades ago helped lead the shift from defined benefit plans to defined contribution plans, recently told U.S. employees it will be scrapping its 401(k) match in favor of funding what it calls a “retirement benefit account.” Other companies
Black Friday shoppers leave the Nike store as other shoppers wait in line to shop as retailers compete to attract shoppers and try to maintain margins on Black Friday, one of the busiest shopping days of the year, at Woodbury Common Premium Outlets in Central Valley, New York, U.S. November 24, 2023. Vincent Alban |