From left, Elon Musk, House Speaker Mike Johnson and Vivek Ramaswamy arrive for a meeting on Capitol Hill on Dec. 5, 2024. Al Drago/Bloomberg via Getty Images When Elon Musk and Vivek Ramaswamy laid out their vision for slashing the size of the federal government, they touted plans to bring workers back to the office […]
5 advisors offer important tips for managing your money in 2025
Personal finances are top of mind for many households as they get set to ring in the new year. About 38% of Americans ranked financial stability as their No. 1 focus area for 2025, according to a recent Allianz Life survey. CNBC reached out to certified financial planners on its Financial Advisor Council to list […]
Here are steps you can take to avoid overspending next holiday season
Ezra Bailey | Stone | Getty Images Opening presents during the holidays is of course a lot of fun. But for many, opening those credit card statements will be just the opposite. Months before the holidays hit, consumers were already bracing for the anticipated costs. More than half of 2024 holiday shoppers, or 55%, felt […]
Exchange-traded funds have ‘tax magic’ that many mutual funds don’t offer
Israel Sebastian | Moment | Getty Images Investors who hold exchange-traded funds can often escape a tax bill incurred by those with mutual funds, which are generally less tax efficient, according to investment experts. ETFs and mutual funds are baskets of stocks, bonds and other financial assets overseen by professional money managers. But they have […]
Here’s what should be on your financial to-do list for 2025, advisors say
Rgstudio | E+ | Getty Images When it comes to financial resolutions, paying down debt is at the top of many to-do lists for 2025. But financial advisors who work with clients every day have their own wish lists for what they think should be top financial priorities for 2025. Here are some tips covering […]
Credit card debt explored by Saïd Sayrafiezadeh in new short story
J Studios | Digitalvision | Getty Images In Saïd Sayrafiezadeh’s fictional short story, “Minimum Payment Due,” the main character is trapped in credit card debt and desperate for a way out. The fact that the experience is common — more than a third, or 38%, of adults in the U.S. have credit card debt, according […]
Here’s how this DC-area high school is helping to close the wealth gap
Hill Street Studios | Getty Images Keith Harris, a 17-year-old high school senior at KIPP DC College Preparatory, has studied accounting, investing and budgeting, among other basic lessons, like his English, history and math curriculum. Harris is enrolled in his high school’s NAF Academy of Business, a rigorous three-year finance program with a work-based learning […]
36% of American consumers took on holiday debt, averaging $1,181
Manonallard | E+ | Getty Images Many Americans are capping off the holidays with new debt balances. This season, 36% of American consumers took on holiday debt, according to a new survey from LendingTree. Those who racked up balances this season took on an average of $1,181 in debt, up from $1,028 in 2023. However, […]
The Roth 401(k) is becoming more common
Filippobacci | E+ | Getty Images Retirement savers, take note: more employers have added a Roth savings option to their workplace 401(k) plans. And, due to a legislative change, it’s likely the remaining holdouts will soon offer it, too. About 93% of 401(k) plans offered a Roth account in 2023, according to an annual poll […]
The busiest return season of the year is about to begin
After a strong start to the holiday season, consumer spending is on track to reach record levels this year. But many of those purchases will soon be returned. December’s peak shopping days are closely followed by the busiest month for sending items back, which experts dub “Returnuary.” This year, returns are expected to amount to 17% […]