When couples face financial stress, the importance of open communication cannot be understated. Research conducted by Cornell University suggests that many couples struggle to effectively address their financial problems due to a fear of initiating difficult conversations. This avoidance is often rooted in the misconception that discussing financial issues will only lead to arguments, further
Personal
As TikTok continues to provide users with a plethora of tips on how to build wealth, one particular trend gaining traction is the “no-spend month.” This challenge urges individuals to refrain from making any non-essential purchases for a specified period of time. The idea behind this trend is to divert funds that would typically be
The U.S. Department of Education is considering extending the eligibility of the popular Public Service Loan Forgiveness program to early childhood educators. This move comes in response to the low wages that many workers in early childhood education settings face. U.S. Under Secretary of Education James Kvaal expressed the importance of supporting these educators who
The Supreme Court recently made a decision in the case of Moore v. United States, upholding a federal tax on certain foreign investments. This ruling brought up questions about the constitutionality of a potential wealth tax. The case centered around a Washington state couple who were taxed on income from an investment in an India-based
As the older members of Generation X approach retirement age, the looming pressure of saving enough money for a comfortable retirement is becoming increasingly concerning. A report from Natixis Investment Managers revealed that 48% of Gen Xers believe they will not have sufficient funds to enjoy their retirement. Additionally, 31% fear that they will never
The issue of heirs’ property, where homeowners die without a will and informally leave property to multiple descendants, has far-reaching consequences on wealth transfer. With more than $32 billion in assessed values of U.S. property at stake, these non-formal ownership arrangements can lead to a host of challenges. Not having a clear legal title can
The inflation rate for food prices has slowed down in recent months, according to government data. However, this slowdown does not mean that consumers are not feeling the impact of high grocery costs. In the past few years, 80% of Americans have noticed a significant increase in the price of groceries, with prices rising by
The U.S. Department of the Treasury and the IRS have recently revealed a plan aimed at closing a significant tax loophole used by large, complex partnerships. This move is expected to generate more than $50 billion in tax revenue over the next decade. The focus of the plan is on combating “related party basis shifting,”
The recent decision by the Federal Reserve to leave interest rates unchanged has signaled that there may be only one rate cut expected before the end of the year. This means that individuals carrying credit card balances will not see much relief in terms of sky-high interest charges. With the average credit card rate nearing
The world of car payments has undergone significant changes in recent years. With a combination of high prices and interest rates, the average monthly auto loan payment has surged to $760, according to Moody’s Analytics. This marks a substantial increase from the $535 average payment in May 2019. Moreover, a staggering 17% of car owners