Hurricanes could impact millions of Americans’ taxes
Florida CFO Jimmy Patronis joins Fox & Friends to discuss the state's property insurance crisis as residents reel from Hurricane Milton. Tens of millions of Americans living in federal disaster areas may be eligible for some tax relief in the form of late filing, and victims may be able to take a deduction from their […]
Seniors to get moderate cost of living bump in Social Security payments next year
Less inflation means fewer increases in Social Security payments. (iStock) According to the Social Security Administration (SSA), Social Security and Supplemental Security Income (SSI) benefits for more than 71 million Americans will increase by 2.5% in 2025, resulting in an additional $561 in Social Security income per year. This is expected to increase. Beneficiaries will […]
Inflation sees the lowest annual rise since 2021
Inflation rose, but the increase was minimal compared to the previous three years. (iStock ) The Consumer Price Index (CPI), the main measure of inflation, rose 0.2% in September, a similar increase to what consumers saw in August and July. Reported by the Bureau of Labor Statistics. The index rose 2.4% over the past 12 […]
Social Security COLA will be 2.5% in 2025, lower than prior year
More than half of adults age 50 and older are worried about having enough money for retirement, according to a recent AARP survey. The Social Security Administration announced Thursday that the 2025 cost-of-living adjustment rate will be 2.5%. Social Security retirement benefits will increase by about $50 a month on average starting in January, the […]
Private student loan interest rates rise for 5-year terms and dip for 10-year terms
At Credible Operations, Inc. (NMLS No. 1681276, hereafter referred to as “Credible”), our goal is to give you the tools and confidence you need to improve your financial situation. While we promote products from partner financial institutions from whom we receive compensation for our services, all opinions are our own. The latest private student loan […]
Nearly 60% of Americans say $100K income required to curb expenses anxiety
Storch Advisors CEO Gerald Storch speaks with Varney & Co. about the state of the American consumer ahead of the holiday season. Americans are still feeling the pain of rising prices, with many believing they would have to bring home at least $100,000 a year to not have to worry about the cost of daily […]
Fed cuts interest rates for first time in 4 years – here’s what that means for your wallet
A cut in interest rates by the Federal Reserve would mean improved borrowing rates for borrowers. (iStock) Federal Reserve System Lower the federal funds rate It rose by half a percentage point on Wednesday, something economists had largely expected as inflation continues to steadily incline toward the 2% target rate. The central bank, focusing on […]
Private student loan interest rates drop for 5-year terms and rise for 10-year terms
At Credible Operations, Inc. (NMLS No. 1681276, hereafter referred to as “Credible”), our goal is to give you the tools and confidence you need to improve your financial situation. While we promote products from partner financial institutions from whom we receive compensation for our services, all opinions are our own. The latest private student loan […]
Inflation hits 2.5% in August, keeping the Fed on track to lower interest rates
Inflation is slowing and the Fed is likely to cut interest rates in September. (iStock) Annual inflation continued to rise slowly in August toward the 2% target rate set by the Federal Reserve. Consumer Price Index The Consumer Price Index (CPI) released by the Bureau of Labor Statistics (BLS). Prices rose 2.5% year-on-year in August, […]
Not setting aside funds for retirement early enough ‘biggest’ financial regret for Americans: Bankrate
Affirm co-founder and CEO Max Levchin told “The Craman Countdown” that the company is “doing very well.” Saving for retirement is important, with 22% of U.S. adults reporting that not starting this habit earlier is their biggest financial regret. That's what Bankrate reported. Recently published studies The YouGov poll, conducted July 16-18 with a non-probability-based […]