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Financial Wellness

FILE - A sign highlighting the financing interest rate is displayed near the price sticker on an unsold 2023 vehicle at a Mercedes-Benz dealer on Nov. 30, 2023, in Loveland, Colo. The Federal Reserve’s decision Wednesday, May 1, 2024 to keep its benchmark rate at a two-decade high should have ripple effects across the economy. Mortgage rates, credit card rates, and auto loan rates will all likely maintain their highs, with consequences for consumer spending. (AP Photo/David Zalubowski, file)

The Fed indicated rates will remain higher for longer. What does that mean for you?

The Federal Reserve’s decision Wednesday to keep its benchmark rate at a two-decade high should have ripple effects across the economy.

President Joe Biden delivers remarks on student loan debt at Madison College, Monday, April 8, 2024, in Madison, Wis. (AP Photo/Evan Vucci)

The deadline to consolidate some student loans to receive forgiveness is here. Here’s what to know

Sheri Wilkins talks about her experience using the DailyPay app outside of the clubhouse at her apartment complex in College Station, Texas on Tuesday, March 26, 2024. (AP Photo/Sam Craft)

These apps allow workers to get paid between paychecks. Experts say there are steep costs

In this image made from video, Lindsay Bryan-Podvin, a financial therapist and founder of Mind Money Balance, is interviewed, Wednesday, April 10, 2024, in Ann Arbor, Mich. With tax season upon us, Bryan-Podvin recommends that you make a plan to tackle your return step by step and focus on self-care if you're experiencing financial stress. (AP Photo/Mike Householder)

Here’s how to reduce stress and get your taxes done

This image provided by the Federal Communications Commission shows a portion of a blank, sample broadband consumer label. Much like nutritional labels on food products, “broadband labels” for internet packages will soon tell you just what is going into the pricing of your service, thanks to new rules adopted by the Federal Communications Commission this week. (FCC via AP)

Internet providers must now be more transparent about fees, pricing, FCC says

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A page from the Internal Revenue Service website is shown on a laptop on Monday, April1, 2024 in New York. Taxpayers usually know their identity has been stolen when they try to file their tax returns and the IRS says they've already done so. (AP Photo/Peter Morgan)

Here’s how to protect yourself from common scams this tax season

Scammers look for ways to trick people into giving them money year-round, but tax season can be particularly fraught. One of the most common tax scams is identity theft.

FILE - Logos for Cash App are shown on devices in New York, Sept. 8, 2023. Tax reporting requirements for freelancers or gig workers who receive payments via apps like Venmo, Zelle, Cash App or PayPal will change for the 2024 tax year. (AP Photo/Richard Drew, File)

How freelancers can prepare for changing tax requirements

If you’re a freelancer or gig worker who receives payments via apps like Venmo, Zelle, Cash App or PayPal, your tax reporting requirements will change for the 2024 tax year.

FILE - Wheaton College students stop to chat on the Norton, Mass. campus, Feb. 13, 2024 as snow falls. More than 75 million student loan borrowers have enrolled in the U.S. government's newest repayment plan since it launched in August. (Mark Stockwell/The Sun Chronicle via AP, File)

What to know about the SAVE plan, the income-driven plan to repay student loans

More than 7.5 million student loan borrowers have enrolled in the U.S. government’s newest repayment plan since it launched in August.

FILE - TurboTax is displayed in a Costco warehouse in Pittsburgh on Jan. 26, 2023. It's tax season in the U.S., and for many people, filing tax returns can be a daunting task that's often left until the last minute. (AP Photo/Gene J. Puskar, File)

Today is Tax day. Here are some tips on how to navigate it and file your taxes

April 15 is the last day to submit tax returns from 2023. If you left your tax filing until the last minute, you’re not alone.

Jesus Noyola, a sophomore attending Rensselaer Polytechnic Institute, poses for a portrait in the Folsom Library, Tuesday, Feb. 13, 2024, in Troy, N.Y. A later-than-expected rollout of a revised Free Application for Federal Student Aid, or FASFA, that schools use to compute financial aid, is resulting in students and their parents putting off college decisions. Noyola said he hasn’t been able to submit his FAFSA because of an error in the parent portion of the application. “It’s disappointing and so stressful since all these issues are taking forever to be resolved,” said Noyola, who receives grants and work-study to fund his education. (AP Photo/Hans Pennink)

Students and parents are frustrated by delays in hearing about federal financial aid for college

For many students, the excitement of being accepted into their first-choice college is being tempered this year by a troublesome uncertainty over whether they’ll get the financial aid they need to attend.

FILE - The likeness of Benjamin Franklin is seen on U.S. $100 bills, July 14, 2022, in Marple Township, Pa. In 2023, the Federal Trade Commission received over 64,000 romance scams reports that translated into $1.14 billion in reported losses. (AP Photo/Matt Slocum, File)

How to keep yourself safe from romance scams this Valentine’s Day

Last year, the Federal Trade Commission received over 64,000 romance scams reports that translated into $1.14 billion in reported losses.

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

For Americans who lacked savings prior to the pandemic, financial stress is rising. 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, with rising and worrying de

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

Tax season starts today and for many people filing U.S. tax returns — especially those doing it for their first time — it can be a daunting task that’s often left to the last minute.

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

A majority of U.S. taxpayers feel they pay too much in taxes, with many saying that they receive a poor value in return.

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

Recent mass layoffs from technology and media companies, including eBay, Riot Games and the Los Angeles Times, might have you thinking about your job security.

File - A customer makes a transaction at an automatic teller machine in Los Angeles on March 27, 2023. The cost to overdraw a bank account could drop to as little as $3 under a proposal announced by the White House, the latest move by the Biden administration to combat fees it says pose an unnecessary burden on American consumers, particularly those living paycheck to paycheck. (AP Photo/Richard Vogel, File)

What to know about overdraft fees as the White House cracks down on them

The Consumer Financial Protection Bureau has proposed new rules that would lower overdraft fees, with President Joe Biden calling the charges “exploitative.”

FILE - Credit cards as seen Thursday, July 1, 2021, in Orlando, Fla. After paying off credit card debt, it’s important to evaluate your relationship with plastic to determine whether a second chance is worthwhile. While a break from credit can be necessary and useful for establishing new spending habits, doing away with a credit card entirely could negatively impact your credit. Credit cards aren’t a match for everyone, but they can be helpful tools in your credit journey if used responsibly. If you’re considering returning to credit cards, a stay-out-of-debt plan that is tailored to your motivations may prevent debt the next time around. (AP Photo/John Raoux, File)

Overdraft fees could drop to as low as $3 under new Biden proposal

The cost to overdraw a bank account could drop to as little as $3 under a proposal announced by the White House, the latest move by the Biden administration to combat fees it says pose an unnecessary burden on American consumers, particularly those living paycheck to paycheck.

FILE - Agriculture Secretary Tom Vilsack holds up a Supplemental Nutrition Assistance Program Electronic Benefits Transfer (SNAP EBT) card during a news conference at the White House, Wednesday, May 5, 2021, in Washington. Student and legal advocacy groups are petitioning the U.S. Department of Agriculture to lift the interview requirement for Supplemental Nutrition Assistance Program (SNAP) applicants to receive food aid. (AP Photo/Evan Vucci, File)

Advocacy groups are petitioning for the end of SNAP interview requirements

Student and legal advocacy groups are petitioning the U.S. Department of Agriculture to lift the interview requirement for Supplemental Nutrition Assistance Program applicants to receive food aid.

File - A graduating Boston College student speaks on a phone during commencement ceremonies on May 22, 2023, in Boston. The Free Application for Federal Student Aid, or FAFSA, has been available on and off for a few days now. While many have been able to take advantage of the new shorter application, many others have struggled to even open the application. (AP Photo/Steven Senne, File)

The new FAFSA is meant to make applying for college aid easier, but not everyone can access it yet

A new online application designed to make applying for federal student aid easier went live this week, but not everyone has been able to access it.

File - Students make their way through the Sather Gate near Sproul Plaza on the University of California, Berkeley, campus March 29, 2022, in Berkeley, Calif. The Free Application for Federal Student Aid is available for the 2024-2025 school year, three months later than usual. (AP Photo/Eric Risberg, File)

What to know about changes to this year’s FAFSA application for college students

A new version of the federal student aid application is now available to all college applicants for the 2024-2025 school year.

Holiday shopper crosses First Avenue in the Cherry Creek North shopping district late Friday, Dec. 15, 2023, in Denver. (AP Photo/David Zalubowski)

Here are some ways you can reduce financial stress during the holidays

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.

Nicole Plauché, 23, poses for a photo at her family's home in Highland Village, Texas, Friday, Dec. 15, 2023. Plauché graduated from college last year with a business degree and is navigating how to manage holiday spending while paying student loan debt. (AP Photo/LM Otero)

How to manage holiday spending when you’re dealing with student loan debt

The holidays can be a challenging time if you’re on a budget. This year, millions of people have had to start paying back their student loans, adding to the financial pressure and making gift-giving even more stressful.

FILE - People shop for Nike shoes at a store on Nov. 25, 2022, in New York. A popular form of payment by installment — 'buy now, pay later' — is projected to have its biggest holiday season yet. But analysts caution more transparency is needed in the space to prevent consumers from over-extending themselves if they take on multiple loans. (AP Photo/Julia Nikhinson, File)

More Americans are expected to ‘buy now, pay later’ for the holidays. Analysts see a growing risk

Consumers are expected to use “buy now, pay later” payment plans heavily this holiday season, a forecast that bodes well for retailers but that has credit experts again sounding alarm bells.

A page from the National Council on Aging website is shown in this photo taken Thursday, Nov. 9, 2023 in New York. In 2022, consumers lost $8.8 billion to scammers. And older adults lost the highest amount of money compared to other age groups, according to the Federal Trade Commission. (AP Photo/Peter Morgan)

How to talk to older people in your life about scams

Last year, consumers lost $8.8 billion to scammers, and the Federal Trade Commission says older adults lost the most money compared to other age groups.

Fees on a concert ticket receipt are shown in this photo taken Wednesday, Nov. 1, 2023, in New York. "Junk fees" are just what they sound like: hidden or misleading charges that increase the total cost of concert tickets, hotel rooms, utility bills and other goods and services. (AP Photo/John Minchillo)

The White House has proposed cracking down on junk fees. Here’s how to avoid them

The Biden administration has proposed increasing transparency around junk fees, which are hidden or misleading charges that increase the total cost of concert tickets, hotel rooms, and other goods and services.

FILE - Credit cards as seen July 1, 2021, in Orlando, Fla. Many Americans say their household expenses are outpacing earnings in 2023 according to a new poll from AP-NORC Center for Public Affairs Research. (AP Photo/John Raoux, File)

Many Americans say their household expenses are outpacing earnings this year, AP-NORC poll shows

About two in three Americans say their household expenses have risen over the last year, but only about one in four say their income has increased in the same period.

FILE - The U.S. Social Security Administration office is seen in Mount Prospect, Ill., Oct. 12, 2022. About 71 million people including retirees, disabled people and children receive Social Security benefits. (AP Photo/Nam Y. Huh, File)

What to know about the Social Security cost-of-living adjustment

Tens of millions of older Americans will see a modest increase in benefits in January when a new cost-of-living adjustment is added to Social Security payments.

File - The Southern University Human Jukebox marching band warms up before the 2023 National Battle of the Bands at NRG Stadium, Saturday, Aug. 26, 2023, in Houston. Student loan payments resume in October after a three-year pause due to the pandemic. (AP Photo/Michael Wyke, File)

Biden is trying again on student loan forgiveness. Here’s where the process stands

President Joe Biden is making another attempt at student loan cancellation after the Supreme Court ruled earlier this year that his administration couldn’t forgive $400 billion in student loan debt using a 2003 law.

File - Graduating Harvard University students celebrate their degrees during commencement ceremonies, on May 25, 2023 in Cambridge, Mass. Student loan payments resume in October after a three-year pause due to the pandemic. (AP Photo/Steven Senne, File. )

Borrowers are reassessing their budgets as student loan payments resume after pandemic pause

Millions of Americans must start repaying their federal student loans again in October, with monthly payments averaging hundreds of dollars.

Karin Engstrom, 82, poses for photos at home, Wednesday, Sept. 27, 2023, in Seattle. Engstrom recently had student loans forgiven. She's one of 804,000 borrowers who will have a total of $39 billion forgiven under a one-time adjustment granted by the Biden administration. (AP Photo/Stephen Brashear)

804,000 long-term borrowers are having their student loans forgiven before payments resume this fall

Student loan payments start up again for most borrowers in October, but more than 800,000 people who have been paying for years are having their loans forgiven.

File - Jorge Amezquita, from right, cousin Adalene Castillo and girlfriend Cassandra Duarte look for a TV remote under debris after a tornado ripped the roof off the apartment on Jan. 24, 2023, at Beamer Place Apartments in Houston. When natural or manmade disasters happen, renters insurance can mean the difference between catastrophe and stability. (Yi-Chin Lee/Houston Chronicle via AP, File)

What to know about renters insurance and what it does and doesn’t cover

When natural or manmade disasters happen, renters insurance can mean the difference between catastrophe and stability.

Melissa Chavez feeds a treat to her toy poodle Milo, Thursday, Aug. 24, 2023, in New York. Chavez decided to get a dog in the summer of 2020, she had an idea of the costs but was surprised by how fast they added up.When (AP Photo/Bebeto Matthews)

Pets are our faithful companions, but the costs to care for them can add up

Pets provide joy and companionship, but costs can add up quickly, especially if you’re a first-time owner and don’t know what to expect.

FILE - Jewell Baggett walks amidst debris strewn across the yard where her mother's home had stood, in Horseshoe Beach, Fla., after the passage of Hurricane Idalia, on Aug. 30, 2023. Information theft is on the rise. Frauds and scams often emerge during specific incidents such as the COVID pandemic, and in the wake of climate-related catastrophes. (AP Photo/Rebecca Blackwell, File)

Information theft is on the rise. People are particularly vulnerable after natural disasters

Information theft is on the rise. Over 1.1 million people reported the crime to the Federal Trade Commission in 2022.

File - Graduates embrace during Southern California's 140th commencement ceremony, on May 12, 2023, in Los Angeles. Interest on federal student loans has started accumulating again after a three-year pause because of the COVID-19 pandemic. Borrowers still have another month before they'll need to start paying back loans. (Sarah Reingewirtz/The Orange County Register via AP, File)

Federal student loan interest has started accruing again. Here’s what you need to know

Interest on federal student loans has started accumulating again after a three-year pause because of the COVID-19 pandemic.