Today’s high interest rates have created a ticking time bomb for many homebuyers who took out an adjustable-rate mortgage near the start of the COVID-19 pandemic. About 330,000 homeowners who took out an ARM in 2019 have already seen their five-year fixed-rate term end, and another 100,000 will join them next year, according to ICE Mortgage Technology. With mortgage rates ...
Women would rather accept the “singles tax” than the couple. The “singles tax” — the highest costs singles pay to support themselves financially — recently rose to over $7,000, according to Zillow, but women would rather stay on their own. A new study conducted by Qualtrics on behalf of Intuit Credit Karma found that while many single women admitted that ...
Okay, boomer! Most Americans are overwhelmed and fed up with today’s tipping culture, but some are still more generous than others, according to a survey conducted by personal finance comparison site Bankrate. Nearly 3 in 5 adults have negative feelings about tipping – and dissatisfaction only increases with age. “Older Americans seem to have the most shock about the rising ...
Few words inspire less joy than “budget,” but as inflation rates rise and wages remain stagnant, many of us are looking for ways to save. There is no single wallet solution for saving. Rather, the key to financial stability and fat stacks of paper lies in understanding your spending habits, non-negotiables, and long-term goals, all qualifiers that can be found ...
If you feel like you’re getting slapped with extra card fees more and more – you’re not imagining it. As businesses face rising costs, a growing number are charging their customers an extra fee when they pay by card to cover the cost of processing that transaction. And while it may seem like an insignificant amount at the moment, studies ...
The top actuaries for Social Security and Medicare testified before a House panel Thursday about the financial woes of two safety net programs that could see key trust funds run out in about a decade, leaving beneficiaries to face with a benefit reduction if the funding gap is not resolved by Congress. The Trustees for Social Security and Medicare recently ...
What would it take to feel financially prepared? New research has found that the average American feels prepared for the worst after saving $5,078. The survey of 2,000 employed Americans, evenly divided by generation (500 Gen Z, 500 Millennials, 500 Gen X and 500 Baby Boomers) found that Gen Zers need at least $4,286 in their bank account at all ...
Shane O’Farrell didn’t set out to get rich buying and selling Lego – all the 35-year-old from New Jersey was looking for was a connection to his childhood in Ireland, where the modest Fort Legoredo was one of them. favorite toy. Twenty years later, when he saw the kit going for hundreds more than its 1996 retail price of $85, ...
If you need a mortgage, a good credit score, also called a FICO score, is essential—and it’s within your control. In short, a credit score is a simplified calculation of your history of repaying debts and making regular loan payments. If you’re borrowing money to buy a home, lenders want to know you’ll pay back those comes back on time, ...
Don’t let your money slip away! The easiest way to save money on coffee is to brew it at home, but some of us can’t live without Venti Java Chip Frappuccinos – a treat that has become increasingly expensive in recent years. Fortunately, a former Starbucks bartender reveals, you don’t have to give up your visits to the popular chain ...