Stay updated on financial news, market trends, and economic changes that affect your money. From interest rate hikes to government policy shifts, we break down what’s happening now—and what it means for your finances.
More than one in four American households do not have a savings account and one in ten don’t have a checking account, the Federal Deposit Insurance Corporation found in a 2011 survey released on Thursday. Roughly two-thirds of U.S. households have both a checking and savings account. The findings are the result of the second … Read more
Americans continued to feel the pinch in a sputtering economy and saw their incomes decline for the second year in a row – but fewer people are going without health insurance, according to a report released by the U.S. Census Bureau on Wednesday. The U.S. median household income fell 1.5 percentage points to $50,054 in … Read more
The national unemployment rate fell from 8.3 percent to 8.1 percent in August, according to Labor Department statistics released on Friday. The economy added 96,000 jobs last month – mostly in food services and drinking places, in professional and technical services, and in health care. The number of long-term unemployed (jobless for 27 weeks or … Read more
Consumer confidence rose slightly in July after declining for four straight months – but consumers still remain cautious due to the job market, a private research group reported on Tuesday. The Conference Board reported that the consumer confidence index rose 65.9 in July from 62.7 the previous month, surprisingly higher than the 61.5 that economics … Read more
In a comment to the Consumer Financial Protection Bureau on Monday, the Federal Trade Commission expressed its support of new protections for users of general purpose reloadable (GPR) cards. GPR cards are a type of prepaid card that can be “reloaded” with a payment. GPR cards have been gaining in popularity in recent years – … Read more
Consumers started racking up their credit cards again in May as revolving credit increased by a whopping 11.2 percent – or $8 billion – for the largest one-month gain since 2007, according to data released by the Federal Reserve on Monday. Overall, consumer credit grew at an annualized rate of 8% as consumers added $17.1 … Read more
The economy gained a mere 82,000 jobs and the number of unemployed remained virtually unchanged at 12.7 million in June, the Labor Department’s Bureau of Labor Statistics reported on Friday. The jobs gain came predominantly from professional and business services, and most other major industries changed little over the month, the Bureau said. The 8.2 … Read more
Con artists have no qualms about taking advantage of people during hard times. You may have heard or seen ads that promise the government has free money to help you pay your bills, but the Federal Trade Commission warns consumers that it is a scam: “There is currently money available NOW right here in your … Read more
The total number of employers fell in the U.S. in 2010 for the third consecutive year in a row – but at a slower pace than earlier years, according to a government report released on Tuesday. There were 7.4 million U.S. businesses with paid employees in 2010 – a decline of 36,800 establishments from the … Read more
Lower home values are contributing to the student loan crisis as parents can’t get the funding to help their kids through college, according to a report released by the National Association of Home Builders. “The rising student loan debt problem is another consequence of the housing downturn,” said NAHB Chairman Barry Rutenberg. “As more and … Read more
