Personal finance
‘I work just 2 hours a day’: A 24-year-old who makes $8,000 a month in passive income shares her best business advice
Like millions of Americans, I found myself out of work during the pandemic. At first, I was laid off from my waitressing job. Then I began working for myself as an online fitness coach, but running the business required 10-hour workdays and I was only making $1,000 to $2,000 a month. So in July 2021, […]
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Consumers spend an average $133 more each month on subscriptions than they realize, study shows
Jose Luis Pelaez Inc | DigitalVision | Getty Images There’s a decent chance you don’t have a good handle on how much your subscriptions are really costing you. Consumers’ offhand guess of how much they spend monthly on subscriptions averaged $86, according to a survey commissioned by market research firm C+R Research. Yet when asked […]
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Investors revisit muni bonds amid higher yields and strong credit
David Jakle | Image Source | Getty Images It’s been a tough year for municipal bonds, with investors cashing out amid rising interest rates. However, higher yields and strong credit may be sparking a shift, experts say. While investors piled a record-breaking $96.8 billion of net money into U.S. muni mutual and exchange-traded funds in […]
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Need to tap your 529 college savings plan soon? Here’s how to handle a stock market downturn
Klaus Vedfelt | DigitalVision | Getty Images Months of stock market volatility may deliver a costly surprise to parents sending children to school this fall: smaller-than-expected 529 college savings plan balances. The average 529 account size was $30,287 in 2021, according to the College Savings Plans Network, but families may now have lower balances, financial […]
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This advisor started a financial non-profit to empower women. Here’s her top investing and entrepreneurship advice
Stacy Francis Source: Stacy Francis Stacy Francis never planned to become a financial advisor, especially one for women going through divorce. But a candid talk with her grandmother shifted her career trajectory. Her grandmother, Myra, was a victim of spousal abuse and, before passing, she confessed to staying in her marriage because she felt “financially […]
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Rising gas prices and inflation overtake Covid as top travel concern, survey finds
After more than two years of largely staying home due to the pandemic, most Americans are ready to hit the road. Yet inflation and record-breaking gasoline prices are weighing on would-be vacationers, even more than Covid concerns, according to a report. Roughly 60% of Americans said they would take more trips this year compared to […]
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Memorial Day weekend car shopping is looking ‘pretty bleak.’ Here’s what to expect
Bloomberg | Bloomberg | Getty Images One of the best car-shopping weekends prepandemic is more of a dud these days. Amid the auto industry’s manufacturing challenges due to persisting supply-chain issues, Memorial Day sales are generally minimal to nonexistent this year. “It’s looking pretty bleak, to be straightforward about it,” said Ivan Drury, senior manager […]
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Fraud had ‘significant’ role in $163 billion leak from pandemic-era unemployment system
Courtneyk | E+ | Getty Images More than $163 billion in benefits likely leaked from the unemployment system during the pandemic, with a “significant portion” attributable to fraud, according to a U.S. Department of Labor report. Congress created many new programs in March 2020 to support millions of people who lost their jobs from the […]
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Here’s the best way to use a health savings account, which offers a triple-tax advantage
The Good Brigade | Digitalvision | Getty Images Health savings accounts can be a powerful way to build wealth and prepare for medical costs in old age — if they’re used the right way. HSAs carry a three-pronged tax benefit. Contributions and investment growth are tax-free, as are withdrawals if used for qualified health expenses. […]
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Capital gains may have triggered hundreds of billions more in individual taxes for 2021, analysis shows. How to trim your tax bill
The U.S. Department of the Treasury building Julia Schmalz | Bloomberg | Getty Images Some investors may be grappling with the sting of higher-than-expected capital gains for 2021 and losses in 2022. But experts say tax-planning opportunities may soften the blow. Individuals paid significantly more taxes this season, and the surge in capital gains in […]
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