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  The past few years have resulted in increased financial strain for many Americans, with the economic challenges piling up faster than many people's paychecks can keep pace. Between stubborn inflation and the elevated interest rates meant to temper it, many households have been struggling to maintain their standard of living.One of the most significant factors, though, has been the dramatic increase in the price of essentials. According to the USDA, food prices surged by 25% percent from 2019 to...

How much of your credit card debt can be forgiven?

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  With the cost of living and inflation elevated, many people use credit cards to cover basic needs. But carrying a balance comes at a price. According to the Federal Reserve, credit card interest rates average nearly 23% right now. If you have $10,000 in outstanding credit card debt with a 23% interest rate, you'll face almost $191 in interest for this statement cycle. Unless you pay off a large chunk of that balance, that interest grows, and next month, you'll...

Need to pay off $10,000 in credit card debt? 3 options you may not have considered

While a rising cost of living has consumers of all ages reaching for plastic, people in their prime spending years are seeing the greatest impact on their balances, according to Experian data. Average credit card balances have increased the most for millennials and Generation X, much more than balances of...

Average credit card debt by age in 2024

Fox Business

If Fed rates don't decrease by at least 75 basis points soon, untapped home equity potential could serve as the "lifeline" for the U.S. economy, according to Meredith Whitney.

Expert who predicted 2008 mortgage crisis reveals the housing ‘lifeline’ if market doesn’t get moving

(The Center Square) – More Americans are struggling financially as savings are significantly down and debt and delinquencies are up compared to four years ago. Savings and disposable income are significantly down when comparing federal data under the Trump and Biden-Harris administrations. As of June 2024, the personal savings...

More inflationary woes: Credit card debt hits record $1.14 trillion

JPMorgan Chase, the nation’s largest credit card issuer, will bar customers from using its credit cards to repay increasingly popular “buy now, pay later” installment loans. Chase said in an emailed statement that buy now, pay later installment loans “are a form of credit” and that the...

Chase to Bar Customers From Using Credit Cards for ‘Pay Later’ Loans

Colorado State

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David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

Mental_Floss

Trying to find an affordable house in Vermont or New Jersey is tough right now, but those aren’t the only states in the U.S. where home prices are on the rise.

10 States Where Home Prices Are Rising the Fastest

Ohio State

The Lantern

On Tuesday, licensed Ohio dispensaries began legally selling non-medical marijuana to consumers; however, the drug’s possession, growth and/or usage are still prohibited on Ohio State’s campus. Credit: Jefferee Woo/Tampa Bay Times/TNS [Original caption: Four citizen-led petitions with proposals to update Dallas’ charter hit the 20,000 valid signature threshold to make it on the Nov. 5 election ballot, including one that would ban police officers from arresting or citing people carrying less than four ounces of marijuana.] As of Tuesday, students 21 and older can now legally purchase marijuana in Ohio.

Dispensary sales of recreational marijuana began Tuesday; possession and usage still prohibited on Ohio State’s campus

The Hill

Mortgage payments edged downwards for the first time in four years as falling inflation is finally being felt in the housing sector. Median mortgage payments declined by 0.1 percent over the four weeks ending Aug. 18 to $2,587 at a 6.49 percent interest rate, according to data published Thursday by real estate company Redfin. Mortgage…

Monthly mortgage payments decline for first time since 2020: Analysis

Marijuana joints and buds, also known as "flower," are viewed on May 24, 2024, in Los Angeles. (Photo Illustration by Mario Tama/Getty Images) Lawmakers voted 4-1 on Tuesday to finalize a nearly 70% hike to the price of a medical marijuana business license. Sen. Red Dawn Foster, D-Pine Ridge, was...

Lawmakers make it official: Annual fees for medical pot businesses will jump 70%

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  Over the past couple of years, Americans dealt with persistent inflation in the U.S. economy. In an effort to keep inflation at bay, the Federal Reserve raised its benchmark rate several times — and now it remains near a 23-year high. As a result, this increased the interest rates for many consumer loans, including mortgages, making it too expensive for many people to buy a home.While mortgage rates remain relatively high — today's average 30-year mortgage rate as of...

Here's the mortgage interest rate forecast for fall 2024

Nearly half of student loan borrowers are anticipating debt forgiveness in the future. While there are ample opportunities for relief, consumer advocates warn families not to make borrowing decisions based on the assumption that they won't have to repay the debt. Nearly half — 48% — of student loan borrowers...

Nearly half of student loan borrowers are expecting debt forgiveness, Sallie Mae report finds

GOBankingRates

Upon retirement, it is time to budget. That's because most retirees are on a limited or fixed income, a personal combination of Social Security, individual savings and work-related compensation like...

9 Best Cars for Retirees With Monthly Payments Under $300

When buying a home lender will consider your overall finances including any debt, your credit score, current salary and security before determining how much they are willing to lend. This benchmark is typically set at 4.5 times a borrower’s salary, this ensures that homeowners can manage their repayments without a heavy financial strain.

The Mortgage-to-Salary Ratio

The Motley Fool

If you have a decent-sized cash hoard, it's even more important to open one of the best savings accounts. See how much $20,000 can earn in a year or more.

How Much Will $20,000 Make You in a High-Yield Savings Account?

Housing is the largest expense for the average American consumer. Since 2020, home prices have skyrocketed, increasing costs for homeowners and renters alike. The more people have to spend on housing,...

How Much Does the Average Homeowner Have in Savings vs. the Average Renter?

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NewsNinja

A lady is cautioning others about purchasing budget earrings from Amazon, Shein, and H&M, after she experienced keloid formations on her earlobes due to wearing them. On a TikTok post that has garnered more than 334,000 likes, Sailor Rozema (@sailor.rozema), a content creator, shares a warning with her community of "dangly earring girls": the inexpensive jewelry found in fast fashion can have negative impacts on your well-being.

‘I’ll never be wearing earrings for the rest of my life’: Customer warns against buying from Shein

A view of the Colorado Capitol on May 4, 2024. (Quentin Young/Colorado Newsline) A bill passed by the Colorado Legislature this year that adjusts taxpayer refunds will benefit high earners but decrease refunds for most Colorado taxpayers, according to a recent analysis from legislative staff. Senate Bill 24-228 is a...

Income tax bill increases economic disparities in Colorado, analysis shows

The Federal Deposit Insurance Corporation (FDIC) has unveiled a startling figure that shows Americans are holding a colossal $7.7 trillion in uninsured deposits within their bank accounts. The agency’s data, captured at the end of March, shows the amount of unprotected deposits in US banks has been increasing for the...

FDIC Report Reveals Alarming $7.7 Trillion in Uninsured U.S. Bank Deposits

NewsBreak

Credit card debt rising, while housing, other costs remain high for lowest earners

Equifax credit files through June show that credit card delinquency is still rising. Americans’ total credit card balances are at $1.14 trillion, up 5.8% from a...

Credit card debt rising, while housing, other costs remain high for lowest earners

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