Young adults today are facing a myriad of financial challenges that their parents did not have to contend with when they were in their 20s and 30s. From skyrocketing food and housing costs to lower wages and larger student loan balances, millennials and Generation Z are finding it increasingly difficult to make it on their
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President Joe Biden’s State of the Union address highlighted the administration’s achievements in combating inflation. He emphasized that wages are rising while inflation is decreasing, painting a positive picture of the economic landscape. However, despite these assertions, the reality on the ground tells a different story. Many households are still grappling with the challenges of
It is no secret that California is known for having some of the highest gas prices in the nation. According to AAA, the national average for a gallon of regular unleaded gas was $3.40, while California soared above at an average of $4.87. This stark difference can be attributed to various factors such as refining
New York Community Bank has recently experienced a significant decrease in deposits, with a loss of 7% over a turbulent month. This has raised concerns among customers, leading many to withdraw their money from the regional commercial bank. In an effort to stabilize the situation, a new capital infusion of over $1 billion has been
In recent years, consumers have increasingly turned to credit cards as a means of financial support. This reliance on credit cards has led to a concerning trend where the national average credit score has begun to decline. According to a report from FICO, a leading developer of credit scores used by lenders, the average credit
In a recent survey conducted among college-bound students, Harvard University has made a comeback as the ultimate “dream” school, overtaking last year’s top choice, Massachusetts Institute of Technology. This shift comes after a challenging period for the Ivy League institution, with controversies surrounding its former President and allegations of plagiarism. Despite these setbacks, there is
Student loan borrowers are facing potential impacts on their 2023 tax filing due to recent developments in the loan repayment landscape. With the restart of bills and the possibility of forgiven debt, it is crucial for borrowers to understand how these factors may influence their tax liabilities come April 15. Experts emphasize the importance of
Budgeting is more than just keeping track of your expenses; it is the foundation upon which you build your financial house. According to financial experts like Tiffany Aliche and Sophia Bera Daigle, having a strong budget is crucial for achieving financial wellness. By understanding where your money is going, you can make informed decisions that
While most Americans are expected to pay Social Security payroll taxes throughout 2024, top earners with an annual wage income of $1 million will cease contributing to the program as of March 2. This abrupt halt in payments is due to the existence of a taxable maximum, which imposes a limit on earnings subject to
Women have been facing a persistent wealth gap when compared to men. Despite increasing levels of education and representation in senior leadership positions, gender pay gaps remain prevalent. Women are often forced to take time off from the labor force or reduce their working hours due to caretaking responsibilities, which has been termed as the