Jose Luis Pelaez Inc/Getty Images Key takeaways Short-term loans provide financing with a brief repayment period and often require collateral to obtain. These loans are generally capped at $2,000 and are often used by borrowers who are strapped for cash or who have a low credit score. Loan funds are…
Holiday spending came in at the high end of projected ranges for 2025 despite numerous economic challenges. According to Mastercard, U.S. retail sales (excluding automotive) increased 3.9% year-over-year from Nov. 1 through Dec. 21, 2025. CNBC and the National Retail Federation published a similar increase, reporting holiday sales grew 4.1%…
ljubaphoto/Getty Images: Illustration by Issiah Davis/Bankrate Key takeaways The interest rate on a mortgage indicates how much interest you’ll pay for the amount you borrow. The annual percentage rate (APR) is the interest rate plus additional fees and any points. When comparing loan offers, it’s best to compare APRs to…
Christina Zelow Lundquist/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways A cash-out refinance replaces your current mortgage with a new, bigger one. The borrower receives the difference between the two balances in cash. The terms of your refinanced mortgage might differ from your original loan, including a new interest…
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The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
Historically Black colleges and universities are on the frontlines of the One Big Beautiful Bill Act’s new limits on parent…
The big new fees JPMorgan Chase is planning to charge some financial technology companies may well trickle down to consumers,…
With artificial intelligence beginning to eat away at many white-collar entry-level jobs, and the unemployment rate for recent college graduates…
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VIEW press/Contributor/Getty Images Wells Fargo is a financial institution that offers its customers personal, small business, commercial, corporate and investment banking solutions. There are currently around 5,600 branches and 11,000 ATMs nationwide. Wells Fargo Bank near me You can find a Wells Fargo retail banking…
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2. Coaching and Tutoring Take stock of your areas of expertise – maybe you speak a second language or solving math equations comes…
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These entrepreneurs, traders and investors are making an outsized impact in fintech, crypto and traditional financial services.By Jeff Kauflin, Hank Tucker and Nina…
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Image by GettyImages; Illustration by Bankrate Very mixed movements on the home equity financing scene in the latest week. The average rate on a $30,000 home equity line of credit (HELOC) skyrocketed 80 basis points to 8.90 percent, according to Bankrate’s national survey of lenders — though the increase reflects…
The safe withdrawal rate (SWR) method is a spending strategy that allows retirees to draw down their portfolios during retirement while minimizing the risk of running out of money. While the method isn’t perfect, the safe withdrawal rate gives retirees a guideline for their spending. Maintaining a portfolio based on…
Like a bar that wants to close at 2 a.m., the Education Department is urging student loan borrowers to switch from SAVE — the most generous of the income-driven repayment plans for federal student loans. Yes, ending SAVE’s interest-free forbearance is tantamount to last call. Except in this case, borrowers…
This page was originally published in early 2023 and reflects the author’s financial decisions during that time. The card details have since been updated. Booking travel through a credit card issuer’s portal has its pros and cons, as I found out when I booked a trip for my family using…
Nitat Termmee/ Getty Images; Illustration by Austin Courregé/Bankrate Key takeaways A financial advisor evaluates the financial needs of their clients and helps them make informed investment decisions to build wealth. A financial planner creates comprehensive financial plans for their clients by considering factors such as savings, retirement and estate planning.…
Image by Getty Images; Illustration by Bankrate Key takeaways SBA lenders aren’t required to take collateral for most SBA loans under $50,000. SBA lenders will use their existing loan collateral policies to determine how much collateral you need to put up. The SBA requires a personal guarantee for any owners…
Key takeaways Protect your home: Consider installing fire-resistant materials where possible, including noncombustible decking materials, a fire rated-roof, safer windows and fire-resistant landscaping. Develop an evacuation plan: Decide how your family will evacuate in the event of a fire and create an emergency supply kit. Read your homeowners insurance policy:…
Luis Alvarez/Getty Images Kristen Allen, the founder of Exclusively Kristen, a women’s clothing company, had recently moved to Hong Kong to more closely monitor the distribution of goods from her warehouse. But after heading to the post office to fulfill her first order, she was told that Hong Kong had…
Key takeaways Life insurance payouts are also called death benefits and are paid out when the insured passes away. Those receiving the payout are called beneficiaries, and can be a single person, multiple persons or an organization, such as a charity. Payouts are handled in a number of different ways…
Hero Images Inc/Getty Images Key takeaways A fiduciary is a person or organization that is required by law to put their clients’ interests ahead of their own. A financial advisor can help you construct a plan to help you grow your wealth, but may not necessarily be a fiduciary. To…
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