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Young Job Seekers Are Falling Victim to a ‘Money Mule’ Scam
As young people go out looking for work this summer, government agencies want them to be aware of the risks of “money mule” fraud schemes. Money mules are people who are used to transfer stolen money for another person or a group. The government is particularly worried about students and other people looking for online remote work potentially being involved, often without the knowledge a crime is happening.
Americans' 6 Favorite Long-Term Investments, Ranked
Americans may have more investment options than ever these days, but real estate still reigns supreme. In survey results released Wednesday by Gallup, 36% of people said they think real estate is the best long-term investment. This marks the 11th straight year that real estate has safely notched the No. 1 spot in Gallup's annual Economy and Personal Finance poll, beating out gold, savings accounts, cryptocurrency and more.
When Will the Fed Cut Rates? Cooling Inflation Builds Hope for September
Optimism about the prospects for interest rate cuts increased on Wednesday after new government data showed that inflation is cooling. The year-over-year inflation rate eased to 3.4% in April after rising 0.3% from the previous month, which was less than expected. The good news on inflation in the April consumer...
How to Invest in Your 20s
It’s understandable why many young people don’t invest: They’d rather use their money elsewhere, or they might not think they have any extra cash available for investing. But investing in your 20s is a golden opportunity to build wealth, especially if you embrace the right level of...
GameStop and Meme Stock Mania Are Back. Should You Join?
One of the pandemic's wildest investing trends is making a comeback: Shares of GameStop, the ultimate meme stock, have more than tripled since the market opened Monday, and other heavily shorted stocks are spiking, too. Shares of GameStop (GME) rose 74% in intraday trading on Monday fueled by speculation over...
Deflation vs. Disinflation: What’s Better for the Economy?
New inflation data comes out Wednesday. And while consumer price index updates are always closely watched, this data drop is primed to be particularly scrutinized as the Federal Reserve mulls its approach to future interest rate hikes, which will affect the U.S. economy at large. Inflation has proven sticky lately,...
Why People Are Giving up on Buying Vacation Homes
The demand for vacation home mortgages has plunged to around an eight-year low, declining 65% since 2021. Factors that have led to fewer homebuyers purchasing second homes include the rise in mortgage rates, high prices in vacation home markets and decreased flexibility for remote work, according to a new report from Redfin.
How to Use a Fire Extinguisher
Fire extinguishers are the most recognizable tool in fire safety. Designed to be easily accessible and noticeable, we see them in virtually every public building, yet most people have never used one and may not be sure how to operate one properly. Let’s learn how fire extinguishers work and how to use one.
Myths About Home Security
There are many misconceptions about home security and property crime that have become widely accepted as facts. Read on to find out which myths about home security have been widely spread, why they could’ve originated, what the actual home security facts are, and more. Widespread misconceptions about home security.
How Technology Is Revolutionizing the Home Security Landscape
Traditionally, home security systems have relied on physical barriers, alarms and human input. While these methods provide a basic level of protection, they can fall short due to the evolving tactics of modern-day intruders. Modern technology has ushered in a new era for the home security industry. From sophisticated surveillance...
Porch Pirates Are Upping Their Game. Here’s How to Save Your Stuff
Online shopping is more popular than ever, and package theft is booming right alongside it. The rise of so-called "porch pirates,” thieves who steal packages directly from people’s front steps, is making it riskier to have packages delivered to your home. More than one-third of respondents to a November 2023 survey from SafeWise said they had a package stolen last year, and 65% said they were more worried about losing a package to porch pirates than they were the year before.
Thousands of Social Security Recipients Will Soon Qualify for Bigger Payments
A change in government policy will help more Americans qualify for Social Security benefits — and increase payments for some existing recipients. The Social Security Administration announced Thursday that it has published a final rule affecting its Supplemental Security Income (SSI) program, which sends monthly checks to about 7.4 million Americans with limited resources who are disabled, blind or older than 65. The rule expands the agency's definition of a "public assistance household," opening it up to households that receive Supplemental Nutrition Assistance Program (SNAP) benefits, informally known as food stamps.
The Every Person’s Guide to DIY Home Security
The best home security systems can help protect your family and home from potential threats, but the installation and monitoring costs can quickly add up. If you’re thinking of installing and maintaining a home security system on your own, here are some things you should know, including how a DIY home security system works and how to set one up.
How Mental Health, Birth Order and Even Movies Can Shape Your Money Habits
Breaking news: There might finally be an answer to the age-old question "Why am I like this?" It turns out that nearly every financial behavior you have has its roots in something else, and many of these influences are so minor that you'd never recognize them. “We attempt to put...
How Much Are Airline Rewards Really Worth? Biden Admin Probes Credit Card Programs
White House officials and regulators are probing what they say are issues with airline credit card programs, including the devaluation of points, high interest rates and the stripping of travel benefits. Americans tend to have a love-hate relationship with airline credit card programs: Putting day-to-day spending on these cards can...
Federal Student Loan Interest Rates Are About to Increase
Interest rates on federal student loans are set to jump by one percentage point this summer. Undergraduate loans will soon carry a rate of 6.53% for the 2024-2025 school year, up from 5.50% this school year. Graduate direct loans will have a rate of 8.08%, up from 7.05%. And PLUS loans for grad students and parents of undergraduates will rise to 9.08%, up from 8.05% this year.
Why the Recent Rise in Stock Buybacks Is a Good Sign for Investors
Stock buybacks reached a six-year high as companies flush with cash are signaling confidence in the economy — and in their own financial outlooks. More than $383 billion in authorized share repurchases have been announced over the past 13 weeks, marking a 30% year-over-year increase and the most since July 2018.
You Can Still Get a CD With a 5% APY — for Now
Many certificates of deposit, or CDs, are still offering yields of at least 5% — for the short term, that is. Putting money in a short-term CD with a 5% annual percentage yield, or APY, is currently an easy way to beat inflation, making it an attractive option for anyone with cash they can set aside for a few months. However, your options are quickly changing.
As Home Values Soar, Americans Are Sitting on Record High Home Equity
After years of soaring home prices, owners are now sitting on record amounts of equity — trillions of dollars of which they can tap into if needed. According to a new report by data analytics firm Intercontinental Exchange (ICE), American homeowners with mortgages held nearly $17 trillion in home equity during the first quarter of 2024 — a new record high. What’s more, $11 trillion of that equity is tappable, meaning the homeowner can cash out a portion of their home’s value while maintaining a 20% equity stake in their homes.
Banks Are Offering Hundreds of Dollars to Open a Checking Account. What's the Catch?
The battle of bank bonuses is heating up. As financial institutions compete for deposits in a high-interest rate environment, they have increased their cash bonus offers for customers who open new checking accounts. The average checking account promo is now just over $400, up from about $300 in 2021, according...
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