As we usher in 2025, it appears that many Americans find themselves grappling with an increasing burden of credit card debt. A recent study by Bankrate illuminates a concerning trend: nearly half of all credit card holders, approximately 48%, are now carrying debt from month to month, a notable rise from 44% at the beginning
Personal
In a groundbreaking step towards alleviating financial pressure on millions of Americans, the Consumer Financial Protection Bureau (CFPB) has finalized a transformative rule aimed at eradicating approximately $49 billion in medical debt from credit reports. This strategic initiative is set to impact around 15 million individuals, offering a fresh start to those grappling with the
In recent years, target-date funds (TDFs) have become an integral part of retirement savings strategies for 401(k) participants. Their growth is striking; as of 2023, these funds constituted approximately 29% of assets in typical 401(k) plans, as reported by the Plan Sponsor Council of America (PSCA). This marks a significant increase from 16% in 2014,
As the importance of preparing for retirement becomes increasingly paramount, many individuals find themselves struggling to navigate the complex landscape of their 401(k) plans. A recent CNBC poll revealed that approximately 40% of Americans are lagging in their retirement planning and savings efforts, pointing to a broader issue of financial literacy and preparedness. With 2025
As individuals approach retirement, strategic financial planning becomes increasingly vital. Recent studies, including a Bankrate survey of over 2,400 American employees, indicate that a majority of workers believe they are lagging in their retirement savings. With 2025 on the horizon, a proactive approach could make a significant difference, especially concerning contributions to 401(k) plans. Adjusting
The landscape of student loan forgiveness has shifted dramatically, particularly with the Biden administration’s recent decision to withdraw wide-scale debt forgiveness plans. This decision is attributed not only to operational issues but also to mounting political pressure and legal challenges from Republican-led states. Borrowers facing educational debt must now pivot their expectations and explore various
The landscape of work has undergone a dramatic transformation in recent years, driven significantly by the COVID-19 pandemic. As business leaders like Elon Musk and Vivek Ramaswamy express their vision to reduce the size of the federal government, they also advocate for a return to full-time in-office work. In a collaborative op-ed from November 20
In the wake of significant political shifts, particularly in the realm of student loan policies, borrowers are facing an uncertain future. The looming departure of President Joe Biden and the impending inauguration of President Donald Trump signal potential upheaval for nearly 40 million federal student loan borrowers. The Biden administration had introduced sweeping initiatives aimed
The landscape of student loan repayment in the United States continues to evolve, especially in light of recent announcements by the U.S. Department of Education regarding the revival of two key repayment plans: the Pay As You Earn (PAYE) Plan and the Income-Contingent Repayment (ICR) Plan. These options serve as critical aids for borrowers as
As the holiday season approaches, the excitement of gift-giving clashes with the reality of financial strain for many consumers. While the joy of unwrapping presents can bring smiles, the dread of inflated credit card statements can lead to significant stress. According to a recent survey by The Harris Poll, commissioned by NerdWallet, a staggering 55%