Financial Wellness

FILE - Television screens on the floor of the New York Stock Exchange show the news conference of Federal Reserve Chair Jerome Powell, Wednesday, Jan. 31, 2024. A strong performance in financial markets, particularly an outsize gain for the stock market in 2021, helped entrench existing trends of wealth inequality during the pandemic. (AP Photo/Richard Drew, File)

Wealth disparities by race grew during the pandemic, despite income gains, report shows

A strong performance in financial markets, particularly an outsize gain for the stock market in 2021, helped entrench existing trends of wealth inequality during the pandemic, new data released this week show.

File - A Discover card is used to pay for gasoline at a Sam's Club in Madison, Miss., July 1, 2021. A combination of inflation, increased interest rates, and the end of pandemic-tied relief, such as the moratorium on student loan payments, has led to record credit card debt, experts say. (AP Photo/Rogelio V. Solis, File)

Why now is a crucial time to pay off credit card debt

An Internal Revenue Service 2023 1040 tax form and instructions are shown on Friday, Jan. 26, 2024. For many people filing U.S. tax returns — especially those doing it for their first time — it can seem like a daunting task. (AP Photo/Peter Morgan)

Tax season is under way. Here are some tips to navigate it

FILE - The Internal Revenue Service 1040 tax form for 2022 is seen on April 17, 2023. Majorities of U.S. taxpayers say the amount they pay in taxes is too high, with many saying that they receive a poor value for the taxes they do pay, according to a new poll from the University of Chicago Harris School of Public Policy and The Associated Press-NORC Center for Public Affairs Research. (AP Photo/Jon Elswick, File)

Most Americans feel they pay too much in taxes, AP-NORC poll finds

The Los Angeles Times newspaper headquarters is located in El Segundo, Calif., Tuesday, Jan. 23, 2024. The Los Angeles Times plans to lay off 94 newsroom employees starting Tuesday, according to the head of the journalists' union who said the number, while substantial, is less than feared. (AP Photo/Damian Dovarganes)

What to do if you’re concerned you might be laid off — or if you’ve lost your job

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File - Harvard University students celebrate their graduate degrees in public health during Harvard commencement ceremonies, Thursday, May 25, 2023, in Cambridge, Mass. A pause on student loan payments that's been in place since the start of the COVID pandemic will end late this summer if Congress approves a debt ceiling and budget deal negotiated by House Speaker Kevin McCarthy and President Joe Biden. (AP Photo/Steven Senne, File)

Here’s how to prepare to start paying back your student loans when the pandemic payment freeze ends

An estimated 43 million borrowers who could have seen their student loan balances decreased or erased will now resume their original payments in the fall, following the Supreme Court’s decision to strike down the Biden administration’s debt forgiveness plan.

File - Columbia University class of 2020 graduates pose for photographs on Commencement Day on Wednesday, May 20, 2020, in New York. After three years, the pandemic-era freeze on student loan payments will end in late August. It might seem tempting to just keep not making payments, but the consequences can be severe, including a hit to your credit score and exclusion from future aid and benefits. (AP Photo/Frank Franklin II, File)

It’s almost time to resume student loan payments. What happens if you don’t?

After three years, the pandemic-era freeze on federal student loan payments will end in October. It may seem tempting to just keep not making payments, but the consequences can be severe, including a hit to your credit score and exclusion from future aid and benefits.

File - Harvard University students celebrate their graduate degrees in public health during Harvard commencement ceremonies, Thursday, May 25, 2023, in Cambridge, Mass. A pause on student loan payments that's been in place since the start of the COVID pandemic will end late this summer if Congress approves a debt ceiling and budget deal negotiated by House Speaker Kevin McCarthy and President Joe Biden. (AP Photo/Steven Senne, File)

Here’s how to prepare to start paying back your student loans when the pandemic payment freeze ends

A three-year pause on student loan payments will end this summer regardless of how the Supreme Court rules on the White House plan to forgive billions of dollars in student loan debt.

File - Alphabet CEO Sundar Pichai, left, and OpenAI CEO Sam Altman arrive to the White House for a meeting with Vice President Kamala Harris on artificial intelligence, Thursday, May 4, 2023, in Washington. As concerns grow over increasingly powerful artificial intelligence systems like ChatGPT, the nation's financial watchdog says it's working to ensure that companies follow the law when they're using AI. (AP Photo/Evan Vucci, File)

Regulators take aim at AI to protect consumers and workers

As concerns grow over increasingly powerful artificial intelligence systems like ChatGPT, the nation’s financial watchdog says it’s working to ensure that companies follow the law when using AI.

FILE - In this June 27, 2020, file photo, Saltillo High School seniors make their way to the football field as the sun begins to set for their graduation ceremony in Saltillo, Miss. Federal parent PLUS loans have become a last resort for many lower-income families paying for a kid’s college education. Today, parent PLUS loan debt totals $108.5 billion among 3.7 million borrowers, and the average borrower owes more than $29,000. (Thomas Wells/The Northeast Mississippi Daily Journal via AP, File)

The US has approved $42 billion in loan forgiveness for public service workers. Here’s what to know

The U.S. has approved more than $42 billion in federal student loan debt forgiveness for more than 615,000 borrowers over the past 18 months.

File - First Republic Bank signs and logos are attached to a window at a branch location, Wednesday, April 26, 2023, in Boston. Regulators seized troubled First Republic Bank early Monday and sold all of its deposits and most of its assets to JPMorgan Chase Bank in a bid to head off further banking turmoil in the U.S. (AP Photo/Steven Senne, File)

Is my money safe? What you need to know about bank failures

Recent turmoil in the banking industry may have you worried about your money. Shares of PacWest, a small regional bank based in Los Angeles, plunged almost 40% after the company confirmed it may put itself up for sale.

A home under construction at a development in Eagleville, Pa., is shown on Friday, April 28, 2023. Rates on credit cards, mortgages and auto loans, which have been surging since the Fed began raising rates last year, all stand to rise even more. (AP Photo/Matt Rourke)

How a Fed increase could affect credit card debt, auto loans

The Federal Reserve has raised its key interest rate yet again in its drive to cool inflation, a move that will directly affect most Americans.

Bank rates are up. How to avoid leaving money on the table

After years of paying low rates for savers, banks are finally offering better interest on deposits. Moving your savings around by opening a new account and closing an old one can seem like a hassle, but it’s a use of time that can pay off.

File - An ad banner appears in the parking lot of the H&R Block offices on Thursday, Jan. 8, 2015, in the Atlas District in Washington. (AP Photo/Pablo Martinez Monsivais, File)

Left your taxes till the last minute? Here are some tips

The deadline to file your taxes has arrived. Whether you do them by yourself, go to a tax clinic or hire a professional, navigating the tax system can be complicated.

FILE - A portion of the 1040 U.S. Individual Income Tax Return form is shown July 24, 2018, in New York. The IRS has been tasked with looking into how to create a government-operated electronic free-file tax return system for all. Congress has directed the IRS to report in on how such a system might work. (AP Photo/Mark Lennihan, File)

Freelancers can prepare now for new 2023 tax reporting

If you receive payments via apps like Venmo, Zelle, Cash App or PayPal, your tax reporting requirements will change next year.

The likeness of Benjamin Franklin is seen on a U.S. $100 bill, Wednesday, Feb. 22, 2023, in Marple Township, Pa. In a time of high inflation and high interest rates, refunds for taxpayers are on average 10% smaller this year compared with last year, in part due to expired pandemic relief programs. (AP Photo/Matt Slocum)

Your tax refund could be smaller than last year. Here’s why

If you’re expecting a tax refund, it could be smaller than last year. And with inflation still high, that money won’t go as far as it did a year ago.

Apple rolls out buy now, pay later service: What to know

Apple is getting into the buy now, pay later space with a few tweaks to the existing model, including no option to pay with a credit card.

Rahwa Berhe, 30, who considers herself a crypto patron rather than an investor, speaks during an interview, Friday Jan. 27, 2023, in New York. (AP Photo/Bebeto Matthews)

Black, Hispanic investors struggle with faith in crypto

NEW YORK (AP) — A software developer twice invested his savings in cryptocurrencies, only to lose it all.

The likeness of George Washington is seen on a U.S. one dollar bill, Monday, March 13, 2023, in Marple Township, Pa. (AP Photo/Matt Slocum)

Debt, expenses stress lower income households: AP-NORC poll

A new AP-NORC poll shows that personal finances are a major source of stress for about half of the lower income households in the U.S..

What the Fed rate increase means for your credit card bill

The Federal Reserve has raised its key rate by another quarter point, bringing it to the highest level in 15 years.

File - Credit card logos are displayed on a business's door, Monday, July 5, 2021, in Cambridge, Mass. As the Federal Reserve considers whether to raise interest rates again, credit card debt is already at record highs, and more people are carrying debt month to month. (AP Photo/Steven Senne, File)

Credit card debt is at record high as Fed raises rates again

As the Federal Reserve raises interest rates again, credit card debt is already at a record high, and more people are carrying debt month to month.

FILE - Hiring signs are displayed at a grocery store in Arlington Heights, Ill., Jan. 13, 2023. Employers are increasingly posting salary ranges for job openings, even in states where it's not mandated by law, according to analysts with employment sites Indeed, GlassDoor, and Monster. (AP Photo/Nam Y. Huh, File)

Pay transparency is spreading. Here’s what you need to know

More employers are posting salary bands for job postings, even in states where it’s not mandated by law.

The likeness of Benjamin Franklin is seen on a U.S. $100 bill, Wednesday, Feb. 22, 2023, in Marple Township, Pa. If you are concerned you may be laid off, start saving. It's crucial to start building an emergency fund even when you feel secure at your job but especially if you think you might lose it. (AP Photo/Matt Slocum)

What to do if you’re concerned you might be laid off

The job market in the U.S. remains strong overall, but recent high-profile layoffs at technology and media companies and predictions of a recession later this year have raised concerns about job security.

FILE- Light illuminates part of the Supreme Court building on Capitol Hill in Washington, Nov. 16, 2022. The Supreme Court is about to hear arguments over President Joe Biden’s student debt relief plan. It's a plan that impacts millions of borrowers who could see their loans wiped away or reduced. (AP Photo/Patrick Semansky, File)

Supreme Court student loan hearing: What you need to know

The fate of President Joe Biden’s student loan forgiveness plan is up in the air after Supreme Court justices questioned whether his administration has the authority to broadly cancel federal student loans.

File - Car shoppers consider a 2022 Cooper convertible on display in a Mini dealership in Highlands Ranch, Colo., on Friday, Feb. 18, 2022. A low credit score can hurt your ability to take out a loan, secure a good interest rate, or increase a credit card spending limit. (AP Photo/David Zalubowski, File)

How credit scores are evolving to improve access to credit

A low credit score can hurt your ability to take out a loan, secure a good interest rate, or increase a credit card spending limit.

Ryan Johnson, left, poses with Anna Craven outside their home, Friday, Feb. 10, 2023, in Nashua, N.H. The recently engaged couple have also established a transparent financial relationship including being open about individual budgets and having mutual financial goals. Talking about money with your significant other might not be the most romantic topic, but it's a key element of a healthy relationship. (AP Photo/Charles Krupa)

Valentine’s Day tips for talking about money as a couple

Money might not be the most romantic topic for Valentine’s Day, but talking about finances with your significant other is a key element of a healthy relationship.

FILE - A sign hangs outside the Internal Revenue Service building in Washington, on May 4, 2021. The IRS issued guidance Friday, Feb. 3, 2023, recommending that taxpayers hold off on filing their tax returns for 2022 if they received a special tax refund or payment from their state last year due to the agency’s uncertainty about the taxability of the payments. (AP Photo/Patrick Semansky, File)

IRS urges special refund recipients to delay filing taxes

The Internal Revenue Service is recommending that taxpayers hold off on filing their tax returns for 2022 if they received a special tax refund or payment from their state last year.

Traders on the floor at the New York Stock Exchange watch Federal Reserve Chair Jerome Powell's news conference after the Federal Reserve interest rate announcement in New York, Wednesday, Feb. 1, 2023. (AP Photo/Seth Wenig)

Here’s what the Fed interest rate hike means for you

The Federal Reserve raised its key rate by a quarter point Wednesday, bringing it to the highest level in 15 years as part of an ongoing effort to ease inflation by making borrowing more expensive.

FILE - A man waits outside a H&R Block tax preparation office on Monday, April 6, 2020, in the Brooklyn borough of New York. Tax season is here again. Whether you do your taxes by yourself, go to a tax clinic or hire a professional, navigating the tax system can be complicated. (AP Photo/Mark Lennihan, File)

Tax season already? Some tips for avoiding stress and scams

Tax season is here again. Whether you do your taxes by yourself, go to a tax clinic or hire a professional, navigating the tax system can be complicated.

FILE - Andrea Mena shops in the holiday section of a Walmart in Secaucus, N.J., Tuesday, Nov. 22, 2022. The holidays are supposed to be a joyful time, but they can also be financially stressful. With gifts, social gatherings and plane tickets home, the costs can start piling up.(AP Photo/Seth Wenig, File)

Holidays can bring financial stress, here’s how to reduce it

The holidays are supposed to be a joyful time, but they can also be financially stressful. With gifts, social gatherings and plane tickets home, the costs can start piling up.

FILE - A help wanted sign is shown in a storefront on Nov. 1, 2022, in Bedford, N.Y. The Federal Reserve's move Wednesday, Dec. 14, to raise its key rate by a half-point brought it to a range of 4.25% to 4.5%, the highest level in 14 years. (AP Photo/Julia Nikhinson, File)

How the Fed’s rate hikes could affect your finances

The Federal Reserve’s move to raise its key rate by a half-point brought it to its highest range in 14 years.

FILE - Starting wages are advertised on a sign in the window of a Taco Bell in Sacramento, Calif., Monday, May 9, 2022. A wave of retirements, a drop in legal immigration, and hundreds of thousands of COVID-19 deaths have left the U.S. with a smaller workforce than when the pandemic began two and half years ago, a change that could bolster wage growth and inflation and force the Federal Reserve to keep interest rates higher for longer. (AP Photo/Rich Pedroncelli)

Inflation is slowing, but still high. What you need to know

After reaching 40-year highs over the summer, price increases in the U.S. are now steadily easing. Consumer inflation slowed to 7.1% in November from a year earlier and to 0.1% from October, the government said Tuesday.

Shoppers looking for bargains enter an OshKosh children clothing store, Monday, Nov. 21, 2022, in Miami, Fla. Bargain hunting is back with full force heading into the holidays. But inflation is limiting how much of a deal consumers will be getting. (AP Photo/Marta Lavandier)

Shoppers hunt for deals but inflation makes bargains elusive

NEW YORK (AP) — Consumers holding out for big deals — and some much-needed relief from soaring costs on just about everything — may be disappointed as they head into the busiest shopping season of the year.

FILE - President Joe Biden speaks about student loan debt relief at Delaware State University, Friday, Oct. 21, 2022, in Dover, Del. The Biden administration is no longer accepting applications for student loan forgiveness after a second federal court shut down the program. The Education Department says on its federal student aid website that it is seeking to overturn the court orders blocking the student debt relief program. (AP Photo/Evan Vucci, File)

What to know if you’ve applied for student loan forgiveness

President Joe Biden’s plan to provide up to $20,000 in federal student loan forgiveness has been blocked by two federal courts.

A help wanted sign in a storefront, Tuesday, Nov. 1, 2022, in Bedford, N.Y. The Federal Reserve may reach a turning point this week as it announces what's expected to be another substantial three-quarter-point hike in its key interest rate. The Fed's hikes have already led to much costlier borrowing rates, ranging from mortgages to auto and business loans. (AP Photo/Julia Nikhinson)

How steep fed rate hikes affect your finances

Mortgage rates continue to jump, home sales slump and credit cards and auto loans increase. Savings rates are slightly juicier, though.As the Federal Reserve rapidly increases interest rates, many economists say they fear that a recession remains inevitable in the coming months — and with it, job lo