3 Hidden Ways Credit Card Debt Is Costing You
Image source: Getty Images Being in credit card debt is no fun. As you quickly find out, credit cards have extremely high interest rates. The average rate on cards that are charged interest is a staggering 23.37%, according to the Federal Reserve. At that interest rate, $10,000 in debt would cost you over $2,300 per […]
Why Retirees’ Average Take-Home Social Security Increase in 2025 Will Be 20% Lower Than They Might Expect
Less than six weeks remain before retirees will get a raise. Last month, the Social Security Administration announced that the next cost-of-living adjustment (COLA) will be 2.5%. The adjustment takes effect on Jan. 1, 2025. But retirees shouldn’t count on receiving that full amount. Here’s why the average take-home Social Security increase will be roughly […]
A Big Change Is Coming to 401(k)s in 2025. Here’s What You Need to Know.
Signing up for your workplace 401(k) plan is one of the best things you can do for your retirement. The neat thing about 401(k)s is that they’re funded automatically through payroll deductions. This means that once you sign up, your employer is the one responsible for getting money into your account — not you. You […]
Let’s Get Real About Social Security and Immigration
For a majority of retirees, Social Security represents more than just a monthly check. This vital program provides a financial foundation without which an overwhelming percentage of aged beneficiaries would struggle. Since 2002, national pollster Gallup has surveyed retirees on an annual basis to gauge how reliant they are on their Social Security income. During […]
Social Security 2025: There’s Good and Bad News Coming for High-Earning Workers
The Social Security Administration recently announced the cost-of-living adjustment (COLA) for 2025, and beneficiaries can expect a 2.5% raise (amounting to around $50 per month for the average retiree) heading into next year. But that’s not the only change coming for Social Security. A new year brings a slew of new income limits that could […]
It’s a Key Time to Boost Your Credit Score. Here’s Why — and How
Image source: The Motley Fool/Upsplash U.S. consumers have an average credit score of 715, according to Experian. And while that’s a good score, it’s not considered great. Experians classifies a credit score of 740 to 799 as very good and designates scores of 800 to 850 as excellent. So if you want to qualify for […]
3 Little-Known Ways to Save on Your Winter Utility Bills in 30 Minutes or Less
Image source: Getty Images. I’ve spent my entire life in Wisconsin, so I know a thing or two about sky-high utility bills in the winter. A balmy day for us is anything above freezing and sometimes we’ll hit 50 degrees below zero. Also, it’s dark around 4 p.m. so our electricity bill goes up a […]
3 Expenses I Never Put on My Credit Cards
Image source: Getty Images Credit cards tend to have a bad reputation as a tool that leads people to debt. But when used wisely, they’re a great source of extra cash back or rewards. That’s why I make a point to use my credit cards as often as it makes sense to. For example, because […]
The One Thing That Would Make Me Cancel My Costco Membership
Image source: Upsplash/The Motley Fool Costco has its perks. For $65 or $130 a year, you get access to a warehouse of goods sold in bulk. The prices are competitive, an Executive membership earns cash back, and you can return just about anything — apparently, even used Christmas trees in January. For some people, however, […]
3 Reasons That a 660 Credit Score Is Good Enough
Image source: Getty Images I don’t know about you, but my Google News feed is just overflowing with articles about how people with the best credit scores are killing it, or what kind of perks come with 800-plus credit scores. And, hey, I’m happy for these people, but they make up no more than 25% […]
