Worried young couple with financial bills stock photo. Shadow DOF. Developed from RAW; retouched with special care and attention; Small amount of grain added for best final impression. 16 bit Adobe RGB color profile. Milos Dimic | E+ | Getty Images For some shoppers, the upcoming holiday season may lead to piling on more debt. …
Courtneyk | E+ | Getty Images Americans face a potential shortfall in their retirement savings, putting them at risk financially. One factor that contributes to this is lifestyle creep, where people upgrade their lifestyle as their income increases. However, one particular upgrade – buying a second home – can be extremely risky for long-term financial …
Choochart Choochaikupt | Istock | Getty Images A recent survey released by the New York Federal Reserve reveals that American consumers are increasingly concerned about their access to credit. With persistently higher interest rates and stricter lending standards at banks, nearly 60% of respondents claim that getting loans, credit cards, and mortgages has become more …
Many Americans are experiencing a paper-rich situation with their homes. Thanks to the continuous rise in housing prices, homeowners now have nearly $30 trillion in home equity, almost reaching the peak recorded in 2022, according to the St. Louis Federal Reserve . This means that each homeowner has an average of $200,000 in equity that …
Westend61 | Westend61 | Getty Images Financial experts have long been warning of an impending economic downturn in the United States. The only question was when it would happen. However, some firms and experts are now retracting their predictions, casting doubts on the reliability of a once-trusted indicator of recession known as the yield curve …
Love is said to be priceless. However, when it comes to weddings, that statement doesn’t hold true. According to a report from the wedding website The Knot, couples in the United States spent an average of nearly $30,000 on their weddings in 2022. But it wasn’t always this way. In the 1950s, the “Complete Guide …
Former Federal Reserve governor Randall Kroszner believes that additional interest rate hikes may still be on the horizon. Kroszner, currently a professor of economics at the University of Chicago, predicts that interest rates will remain high well into the next year. Speaking to CNBC’s “Fast Money” on Wednesday, Kroszner stated, “I don’t see how they …
Image Source: Jose Luis Pelaez Inc | Digitalvision | Getty Images Americans have increasingly relied on credit cards to navigate financial challenges in the lead-up to summer. According to the New York Federal Reserve, aggregate credit card balances have now exceeded $1 trillion, a historic milestone. During the period of April to June, total credit …
Halfpoint Images | Moment | Getty Images The Americans with Disabilities Act was signed into law 33 years ago to protect people with disabilities from discrimination. However, disabled individuals still encounter significant obstacles when it comes to building wealth. In an effort to assist disabled individuals with lower incomes in saving, Senator Bob Casey, D-Pa., …
The United States is embarking on a new chapter in its economy with the Federal Reserve raising its benchmark interest rate. In July 2023, the federal funds effective rate surpassed 5%, marking a significant shift after four decades. Economists predict that as interest rates continue to rise, financial conditions will return to a more normal …