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Alexi Rosenfeld | Getty Images As the April 18 deadline to file taxes nears, parents who were eligible for monthly child tax credit payments last year may also look forward to more generous lump sums when they complete their returns. The American Rescue Plan enacted by Congress temporarily made that credit more generous for 2021….
Willie B. Thomas | Digitalvision | Getty Images Saving for retirement is an important financial task. But what should workers do if they don’t have access to a sponsored plan, such as a 401(k), through their employer? In 2021, 28% of workers in private industry and state and local government didn’t have an employer-sponsored retirement…
Recent graduates may have just gotten an extended break on their student loan payments, but college debt remains a substantial hurdle for nearly everyone with a degree. “Attending and affording college can be next to impossible without taking out a student loan, thanks to the exponential rise in college tuition,” said Bankrate.com analyst Sarah Foster….
A “Now Hiring” advertisement in a store window in Bay Shore, New York, on March 24, 2022. Steve Pfost/Newsday RM via Getty Images Claims for unemployment insurance last week fell to their lowest level in more than 50 years — yet another sign workers are reaping the benefits of a hot labor market. Americans filed…
The Biden administration has grappled with ending the pause on student loan payments as the economy’s recovery from pandemic lows continues. Supachok Pichetkul / Eyeem | Eyeem | Getty Images President Joe Biden announced Wednesday another extension of the payment pause on federal student loans, this time until September. This is the sixth prolongment of…
Student Olivia Raymond participates in a personal finance course in her middle school class in West Orange, New Jersey, in February 2020. CNBC Pursuing financial literacy is something that should continue beyond traditional school years, according to several state governors. “We think it’s a lifelong experience,” New Jersey Gov. Phil Murphy told CNBC’s Sharon Epperson…
Ting Shen/Bloomberg via Getty Images Most payday loan borrowers aren’t using the lowest-cost repayment option in states where it’s available, perpetuating a cycle of high fees and debt, the Consumer Financial Protection Bureau said Wednesday in a report. In some cases, payday lenders have withheld information about these “no-cost extended repayment plans” from borrowers to…
Klaus Vedfelt | DigitalVision | Getty Images The cost of college can be a challenge for families, but a few tax breaks may lessen the burden, financial experts say. For the 2021-22 academic year, the average tuition and fees for full-time undergraduate students ranged from $10,740 (1.6% higher than the year before) for in-state public…
Xinhua News Agency | Xinhua News Agency | Getty Images The Biden administration plans to announce another extension to the payment pause for federal student loan borrowers, sources tell CNBC. The pause is likely to last through August. This would be the sixth extension of the break, which has now spanned two presidencies. Currently, the…
The “Great Resignation,” also known as the “Great Reshuffle,” has many Americans at least considering a career move. But increasingly, job hopping may be more necessary than voluntary as the recent spike in inflation puts households under financial stress. While wage growth is high by historical standards, it isn’t keeping up with the increased cost of…
Edwin Lopez sorts the money in the cash register at Frankie’s Pizza on January 12, 2022 in Miami, Florida. Joe Raedle | Getty Images As inflation continues to weigh on American households, people are plotting what they’ll cut from their budgets in the coming months to keep spending in check. More than 50% of adults…
Going to the grocery store is only going to get more expensive. Food prices rose 1% while food at home jumped 1.4%, making them the fastest monthly gains since April 2020, according to the latest Consumer Price Index figures. And food price inflation likely will only intensify in the months ahead. In 2022, “all food prices…