Latest Personal finance News
Should you worry about overfunding your 529 plan?
529 college savings plans are powerful tools to help pay for the mounting costs of an education. Why are some people hesitant to use them? One common concern is oversaving. You can use 529 funds to cover only qualified education expenses without incurring a tax penalty, but...
10 tips from experts to help you change your relationship with money in 2025
NEW YORK (AP) — With the end of 2024 around the corner, you might be reflecting on financial goals for 2025. Whether you're saving to move out of your parents' house or pay off student loan debt, financial resolutions can help you stay motivated, said Courtney Alev, consumer...
For some FSA dollars, it's use it or lose it at year's end
A big shopping deadline is drawing near for some people, and it has nothing to do with the holidays. Millions of people use flexible spending accounts to help pay for health care, and some may lose money left in those accounts if they don’t spend it by year’s end. ...
MrBeast's new show already faced controversy. Its new giveaway partner may bring more
NEW YORK (AP) — MrBeast's ambitious reality show, which the YouTube megastar hopes will expand his giant online reach and turn the corner on recent controversies, is already raising questions from consumer advocates over a partnership with a fintech company. Prime Video's Thursday...
The Fed expects to cut rates more slowly in 2025. What that could mean for mortgages, debt and more
NEW YORK (AP) — The Federal Reserve's third interest rate cut of the year will likely have consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses. But with inflation pressures still elevated and with concern that...
MacKenzie Scott gives rare third gift to medical debt relief group
MacKenzie Scott continues to make medical debt relief a priority in her mysterious giving. This week, Undue Medical Debt, formerly RIP Medical Debt, announced it had received a rare third gift — $50 million — from the billionaire philanthropist, signaling her satisfaction with...
How to avoid financial stress during the holiday season
NEW YORK (AP) — The holidays are meant to be a time of celebration with family and friends. But they can also bring pressure to spend money on gifts, gatherings and plane tickets home, exacerbated by brand emails, social media influencers and family expectations. With credit card...
Medical debt totaling $30 million to be paid off in Connecticut
HARTFORD, Conn. (AP) — Connecticut has become the latest state to begin notifying its eligible citizens that some or all of their medical debt will soon be paid off, officials announced Monday. Nearly 23,000 residents with debt totaling $30 million will automatically be informed by...
Bank groups sue the Consumer Financial Protection Bureau over a proposed cap on overdraft fees
Some banks and banking trade groups are suing the Consumer Financial Protection Bureau over a finalized rule that limits overdraft fees banks can charge. The rule is part of President Joe Biden administration's campaign to reduce junk fees that hit consumers on everyday purchases,...
The White House is cracking down on overdraft fees
NEW YORK (AP) — The Biden administration has finalized a rule limiting overdraft fees banks can charge, as part of the White House's campaign to reduce junk fees that hit consumers on everyday purchases, including banking services. President Joe Biden had called the fees, which can be as high as...
