Key takeaways The president can influence the stock market, but other factors can have a greater impact on share prices, such as consumer behavior, the Federal Reserve and global trade. President Donald Trump’s tariff announcements have been unpredictable and have negatively affected the stock market, at least temporarily. When stock…
MoMo Productions/Getty Images Key takeaways Almost all workplace 401(k) plans let workers save extra money for the future, so long as you meet age requirements. Those age 50 or older can contribute an extra $7,500 per year. And, starting this year, individuals aged 60-63 can now make “super catch-up” contributions…
Photography by Getty Images; Illustration by Bankrate Key takeaways Snow and ice are covered by home insurance in some instances, like if your roof collapses or a tree falls on your home. When it comes to roof leaks, it will depend on scenario specifics. Some snow-related roof leaks will be…
Key takeaways Both 401(k)s and 403(b)s are tax-advantaged retirement savings plans. While 401(k)s are offered to workers in for-profits companies, 403(b)s are for not-for-profit and government workers. Both plans are subject to the same annual contribution limits, though 403(b)s have a special provision for long-term employees. If you’re looking at…
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While there has been much conversation on not buying from companies with poor diversity, little has been said about investing…
Lifestyle inflation occurs when your expenses increase as you earn more income. It can start subtly—dining at pricier restaurants, upgrading…
Chime, the largest digital bank in America, grew its revenue to $1.7 billion in 2024, an increase of roughly 30%…
Technology has transformed some parts of the daunting homebuying process–making it easier to search and compare properties online, to prepare…
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Key takeaways PITI stands for principal, interest, taxes and insurance — the four big elements of your monthly mortgage payment. You can calculate your PITI payment yourself or by using an online calculator. You may need to pay additional costs not included in PITI, such…
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Budgeting and Building an Emergency Fund for Rising Costs If rising costs are stressing you out, you may require adjustments to your budget…
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Apple, FedEx and Oracle all got loans guaranteed by the Small Business Administration. But rules and red tape keep many banks from making…
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Key takeaways Homeowners insurance protects the borrower’s and lender’s investment in the home, while mortgage insurance financially protects the lender’s investment in the home if the homeowner defaults on their loan. Mortgage insurance is typically required for borrowers who make a down payment of less than 20 percent when purchasing…
2025 has seen a rough start for the stock market. By mid-March, the Nasdaq plummeted more than 10 percent from its all-time high, entering what market watchers call a “correction.” The S&P 500 stock index wasn’t far behind, either, though not officially in correction territory. This kind of downdraft…
Julia Barnard was working her “dream job,” pouring her “heart into the work” of helping education debtors nationwide. Until Barnard — the last student loan ombudsman at the hotly-contested Consumer Financial Protection Bureau (CFPB) — was abruptly (and some argue, illegally) fired by the Trump Administration on Feb. 13. Barnard’s…
Key takeaways Think about the mix of industries and sectors in your portfolio. For instant diversification at a low price point, look to index funds. Watch out for over diversification as you pick assets. As stocks and other investments change value over time, investors may find that one or…
The Stanford Marshmallow Test, conducted by researcher Walter Mischel in the late 1960s, found that children who could delay immediate gratification — by waiting to eat a marshmallow placed before them — tended to achieve better outcomes later in life. The lesson? Sacrificing short-term indulgences can lead to bigger rewards…
Flashpop/Getty Images: Illustration by Issiah Davis/Bankrate Key takeaways You can get a loan for a vacation home from a private lender. There are no government-backed loans for vacation homes. Qualifying for a vacation home loan is typically harder than qualifying to buy a primary residence, with stricter debt-to-income ratio, credit…
Should you buy the dip? The phrase “buy the dip” means jumping into the stock market after it’s fallen, hoping to scoop up some bargains while they’re available. It’s a popular rallying cry on social media after the market has plummeted, as traders come out and talk about their moves.…
Key takeaways Equipment loans can be used to purchase large assets that could strain cash reserves Equipment loans are easy to qualify for and are offered through a variety of bank and online lenders. If you fail to pay your equipment loan on time, the lender may seize the equipment…
Investors were reminded of how volatile stocks can be in early March as stocks sold off due to concerns about how tariffs would impact the outlook for economic growth and inflation. Previous market darlings such as Tesla and Nvidia saw their shares fall about 50 percent and 30 percent, respectively,…
Key takeaways Extended warranties typically cover significant repairs for systems like heating/air, engine, and brakes. Extended warranties may be helpful to luxury car owners or those who plan to keep their car for many years after the manufacturer’s warranty expires. The cost of an extended car warranty can range from $1,300…
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