As the holiday season wraps up, a troubling trend is emerging among American consumers—an escalation in holiday debt. A recent survey conducted by LendingTree reveals that 36% of Americans found themselves constrained by holiday expenses, resulting in an average debt accumulation of $1,181. Though this figure represents a modest increase from the $1,028 recorded last
Personal
The filing requirements surrounding the Beneficial Ownership Information (BOI) report have garnered considerable attention, particularly following the recent announcement from the U.S. Treasury Department regarding an extended deadline for compliance. Originally set for January 1, 2024, small businesses now have until January 13, 2025, to submit this vital information to the Financial Crimes Enforcement Network
The landscape of the U.S. job market has undergone profound changes over the past few years, transitioning from a phase dominated by high employee turnover to one where workforce stability is the norm. This shift, encapsulated by terms such as the “Great Resignation” of 2021 and 2022, has gradually transformed into what can be described
The Internal Revenue Service (IRS) has recently unveiled a significant announcement that will benefit many taxpayers who missed out on the 2021 Recovery Rebate Credit. Starting later this month, the agency plans to deliver automatic payments of up to $1,400 to approximately one million eligible individuals who did not claim this credit on their tax
The Biden administration’s recent withdrawal of significant student loan forgiveness plans raises critical questions about the future of student debt relief in the United States. Two major proposals aimed at allowing the Secretary of the U.S. Department of Education to cancel loans for specific groups of borrowers have been sidelined. This decision comes at a
The beloved holiday film “Home Alone” has entertained generations since its release in 1990, but beyond the comedic misadventures of a young boy defending his home from burglars, viewers have become increasingly curious about the financial status of the fictional McCallister family. How affluent are they really? This article will delve deeply into the subtle
As the holiday shopping season reaches its peak, consumers are not just excited about their purchases but also steeling themselves for the inevitable returns that follow—a phenomenon aptly dubbed “Returnuary.” As we embark on the new year, the National Retail Federation (NRF) anticipates a staggering 17% of all merchandise sales will be returned in 2024,
In recent years, the landscape of retirement savings has been undergoing a significant transformation, particularly among millennials. In what was once considered merely aspirational, hitting the $1 million mark in retirement accounts is increasingly becoming a reality for this generation—a noteworthy shift from previous decades. The rise in the number of younger individuals meeting this
As the U.S. Congress races against the clock to prevent a government shutdown, it simultaneously faces pressing issues regarding Social Security reform. A significant piece of legislation currently on the table is the Social Security Fairness Act, which is poised to address long-standing inequities in benefits for public workers. However, this bill’s future is rife
As economic policies evolve under new leadership, the specter of tariffs on imported goods looms larger than ever, particularly within the automotive sector. President-elect Donald Trump has not shied away from discussing the implementation of substantial tariffs, notably a proposed additional 10% tariff on products imported from China, alongside another anticipated 25% on goods coming