More car buyers pay at least $1,000 a month for their loans as high prices, rate hikes throw ‘a one-two punch’

Skynesher | E+ | Getty Images A growing share of car buyers are signing up for monthly loan payments of $1,000 or more amid rising interest rates and elevated auto prices, new research shows. Overall, 14.3% of consumers who financed a new vehicle in the third quarter committed to payments at or above that amount,…

As California stimulus checks of up to $1,050 start to go out, here’s what you need to know

The Good Brigade | DigitalVision | Getty Images Up to 23 million California residents are about to receive tax refunds of as much as $1,050, thanks to one-time stimulus payments the Golden State began deploying Friday. The payments, which will total $9.5 billion, mark the largest program of its kind in the state’s history. The…

There’s new optimism the $300 monthly child tax credit checks can be renewed — but the relief may look different

Parents and caregivers with the Economic Security Project gather outside the White House to advocate for the Child Tax Credit in advance of the White House Conference on Hunger, Nutrition, and Health on Sept. 20 in Washington, DC. Larry French | Getty Images Entertainment | Getty Images When Natacha Chavez began receiving monthly child tax…

Biden’s student loan forgiveness application will go live any day now. Here’s how to prepare

Tempura | E+ | Getty Images The U.S. Department of Education has said its application for student loan forgiveness will go live in early October, suggesting it could be ready any day now. With legal challenges to President Joe Biden’s historic move to cancel up to $20,000 in debt for millions of Americans mounting, experts…

Long-term unemployment dips by another 70,000 people. Here’s what that means for job seekers

A storefront in Ocean City, New Jersey, on Aug. 18, 2022. Photographer: Al Drago/Bloomberg via Getty Images Al Drago/Bloomberg via Getty Images Long-term unemployment declined again in September amid a continued strong labor market for job seekers. The number of Americans unemployed at least 27 weeks — the official barometer of long-term joblessness — fell…

‘The month of unprecedented deals’ — From Amazon to Target, here’s what you need to know about the early holiday sales going on now

In this article TGT AMZN Follow your favorite stocksCREATE FREE ACCOUNT Amazon‘s two-day “Prime Early Access Sale” starts soon, spurring a number of holiday deals coming earlier than ever before. “October is really going to be the month of unprecedented deals,” said Deborah Weinswig, the founder and CEO of Coresight Research. Indigenous People’s Day or Columbus…

As more consumers go cashless, here’s why you may still want to have some money handy

JGI/Jamie Grill Cold, hard cash could be going by the wayside for many Americans when it comes to routine transactions like paying for groceries or gas. Even so, it’s still important to keep some cash in your wallet, experts say. The cashless economy trend is not necessarily new, but it is gaining momentum, according to…

‘Billions of dollars get left behind’: The 401(k) industry now has a ‘lost and found’ for your old retirement accounts

JGI | Jamie Grill | Blend Images | Getty 401(k) plans hold a whopping $7.7 trillion in retirement savings. But cash-outs of small accounts pull billions from the system each year and can harm investors’ chances of a secure retirement, research shows. A trio of the industry’s largest 401(k) administrators — Fidelity Investments, Vanguard Group…

Despite inflation worries, Americans are less likely to cancel Amazon Prime, Netflix than cut spending on food

In this article SPOT AMZN NFLX Follow your favorite stocksCREATE FREE ACCOUNT Netflix may as well be a necessity. Even as Americans cut back in the face of rising prices and recessionary fears, fewer want to give up their streaming subscriptions, especially when it comes to TV, movies and music services, such as Amazon Prime, Netflix…

46% of Americans continue to make this expensive credit card mistake

One of the biggest credit card misconceptions is that carrying a balance month to month will give your credit score a boost. To that point, 46% of Americans incorrectly believe that leaving a small balance on their card is better for their credit score than paying off the balance each month, a recent NerdWallet study…

Key Democrat outlines 5 priorities for $80 billion in IRS funding

Senate Finance Committee Chairman Ron Wyden, D-Ore., questions IRS Commissioner Charles Rettig at a Senate Finance Committee hearing. Tom Williams | Pool | Reuters Senate Finance Committee Chairman Ron Wyden, D-Ore., has outlined five priorities for the nearly $80 billion in IRS funding enacted in August through the Inflation Reduction Act.  Wyden shared expectations for…

Biden’s student loan forgiveness plan could cost $379 billion over 30 years, Education Department estimates

Demonstrator Gan Golan of Los Angeles at Occupy DC activities in Washington, D.C. Jacquelyn Martin President Joe Biden’s order to cancel student loan debt for millions of Americans could cost an average of $30 billion per year over the next decade, according to Biden administration estimates. The 10-year cost will be roughly $305 billion, as measured by…