Most people are used to seeing sales tax on a receipt, but not every purchase includes it. When it doesn’t, you may still owe tax on that purchase through what’s called a use tax. This comes up most often with online shopping, out-of-state purchases and private sales. Understanding the difference…
Try to Offer Advice or Support Instead of Criticism While younger generations are often criticized for their lack of financial literacy, getting into debt can happen to any one at any age, and for a variety of reasons. The suggestion that younger generations are “terrible with money” is certainly not…
Key takeaways Down payment amounts vary widely depending on home prices and loan types. They can range from less than $10,000 to $200,000 or more. Most housing market data focuses on the median down payment, rather than the average, because it’s a better measure of what the typical borrower contributes.…
Spring is the season for renewal, a perfect time to perform a “deep clean” of your financial profile. While March marks National Credit Education Month, the real goal is gaining the freedom that comes with a top-tier credit rating. Whether you’re planning to buy a home, finance a car, or…
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Last year, on the day before Tax Day, my mom was scheduled to fly into Philadelphia International Airport to stay…
The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
With Republicans ending the Grad Plus program, private lenders are eyeing billions in new business, while some students could be…
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While buy-to-let real estate can generate steady cash flow and long-term appreciation, it also introduces specific tax rules, reporting requirements and potential liabilities. Rental income is generally taxable, but investors may qualify for deductions that reduce their overall tax burden. These can include expenses like…
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Paying off Debt on a Fixed Income: Making Sacrifices and Learning Patience Paying off debt on a fixed income requires discipline. Jill emphasizes…
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For fintech startups, the first five years of the decade have been a roller-coaster ride. At the outset, companies were awash in easy…
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If financial stress has been weighing you down, you aren’t alone. Around 43% of Americans cite money as a factor negatively impacting their mental health, according to a recent Bankrate survey. January is the perfect time to reset your financial mindset and create routines that bring peace of mind all year long. By building good money…
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict editorial policy, so you can trust that…
Image: Getty Images; Illustration: Bankrate HELOC rates took a big dive in the latest week, dropping to three-year lows. The $30,000 home equity line of credit plummeted 78 basis points to 7.44%, as a major lender resumed its promotions, according to Bankrate’s national survey of lenders. Meanwhile, the benchmark five-year…
ImagePixel/Getty Images; Illustration by Issiah Davis/Bankrate Key takeaways The right credit card program for you depends on how you spend and how you prefer to redeem rewards. Top rewards programs offer flexible earning structures and valuable redemption options, including points transfers. Many also include extra perks like limited-time offers, dining…
Image by GettyImages; Illustration by Bankrate Key takeaways Unsecured loans are debt products that do not require collateral but may come with higher interest rates and stricter credit requirements. There are various unsecured loans, including personal loans, student loans, and credit cards. When determining eligibility for an unsecured loan, lenders…
Amanda Gomez submitted hundreds of rental applications for an apartment in Harlem, New York, last year. Most were met with silence. Fifteen, however, were outright rejected. When she subsequently noticed the same apartments relisted five or six times, Gomez suspected racial discrimination. In 2024, housing discrimination complaints filed with the…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates dipped again this week, with the 30-year fixed rate averaging 6.18%, down from 6.24% last week and the lowest level since September 2022, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One…
There has been a lot of buzz in the news recently about President Trump’s proposed 10% cap on credit card interest rates and what it could mean for people struggling with high balances. While this is still a proposal, the bigger question for consumers is simple: If your interest rates…
When people hear the phrase debt management program, there’s often confusion, hesitation, or even fear attached to it. As a credit counselor, I see this every day. Many individuals know they’re overwhelmed by debt, but they don’t fully understand what their options are or what credit counseling actually does. I…
Key takeaways Savings accounts are deposit accounts available at banks and credit unions. They allow you to keep your money safe while it earns interest. Online banks tend to offer the highest interest rates for savings accounts. You can withdraw your money from a savings account at any time, though…
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