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Natalia Gdovskaia | Moment | Getty Images In an environment of high inflation, health insurance costs are doing the opposite: They’ve begun to deflate, and are poised to continue dropping each month until fall 2023, economists predict. Health insurance prices fell by 4% in October and 4.3% in November, according to the consumer price index,…
FamVeld If you don’t have health insurance lined up for next year, there’s still time to get private coverage through the public marketplace. The deadline is Dec. 15 — Thursday — to sign up on Healthcare.gov for a health plan to take effect Jan. 1. Otherwise, you have until Jan. 15 to enroll with coverage…
Kevin Dodge | The Image Bank | Getty Images SEATTLE — For many families, paying for college is a financial burden, and experts say education funding myths may be adding to the student loan debt crisis. “There’s often this perception that somehow people are being penalized for saving for college,” said Cozy Wittman, national education…
Inflation in the United States hit a record high in June 2022. Consumer prices soared by 9.1% compared with a year prior — the largest annual increase since 1981. While wages are rising, they’re not keeping up with inflation. Wage growth has been consistent with an inflation rate of about 4.5%. Meanwhile, as of November,…
Westend61 | Westend61 | Getty Images In the latest inflation reading, used cars are one of the few categories with prices that are lower than they were a year ago. While the consumer price index — which measures price changes for a variety of consumer goods and services — was up 7.1% in November from…
Getty Images If you’re eager to file your 2022 tax return in January or early February, the IRS has a warning: You’ll need to wait for “key documents” before filing in 2023. In a release last week, the IRS urged “early filers” to watch for Form 1099-K, which reports income for third-party payment networks such…
HOUSTON, TEXAS – AUGUST 29: Students study in the Rice University Library on August 29, 2022 in Houston, Texas. Brandon Bell | Getty Images News | Getty Images After President Joe Biden’s historic announcement that tens of millions of Americans would get up to $20,000 in student loan forgiveness, borrowers’ celebrations were short-lived. Conservative groups…
Cn0ra | Istock | Getty Images The end of the year is an important time for making financial decisions that can have an impact in the year ahead — and for years to come. From your work to your savings and investments to spending and giving back, here are five moves you should consider making…
Kathrin Ziegler | Digitalvision | Getty Images As inflation has kept prices high in 2022, Social Security beneficiaries may look forward to a record high cost-of-living adjustment in 2023. “Your Social Security benefits will increase by 8.7% in 2023 because of a rise in cost of living,” the Social Security Administration states in the annual…
Charday Penn | E+ | Getty Images If you’ve accepted payments via apps such as Venmo or PayPal in 2022, you may receive Form 1099-K, which reports income from third-party networks, in early 2023. But there’s still time to reduce your tax liability, according to financial experts. “There’s no change to the taxability of income,”…
Itsskin | E+ | Getty Images Thinking about retiring to another state? You’re not alone. A United Van Lines study found the percentage of people retiring to a new state had increased to 18.3% in 2021, up from 13.4% in 2015. Making the move is not a straightforward decision, however, as there are myriad financial…
House and Senate champions and impacted families appear at a Dec. 7 Washington, D.C., event for expanding the child tax credit during the lame duck session. Tasos Katopodis | Getty Images Entertainment | Getty Images Millions of children were lifted out of poverty in 2021, thanks to a more generous child tax credit that included…