What To Do If An ATM Fails To Dispense Your Money
At last count (in 2022), there were 451,500 ATMs in the U.S. With this many, it's not impossible for one to glitch. If this happens to you, here's what to do.
Read MoreArchive for July 2024
Back to Archive IndexBanking (10)
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You've Been Warned: Never Fall For These Sneaky Credit Card Scams
Credit card scams are commonplace, but fortunately, avoiding being scammed is simple with a bit of due diligence and awareness of what to look for.
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How Much Cash Should You Leave In Your Investment Portfolio?
In a portfolio, you'll want a mix of asset classes, including cash (equivalents). As for how much cash, that'll depend on factors like age and risk tolerance.
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How Interest Rate Changes Affect Banks In The US
In a discussion on interest rate changes and bank profits, it begins with a particular concept: net income interest or NII. For banks, it's a balancing act.
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New CFPB Rule Creates Registry To Track Nonbank Bad Actors
The new rule establishes a registry that will facilitate the CFPB's supervision of certain nonbanks. Its effective date is September 16, 2024.
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Is Paying Off A Car Loan Early A Good Strategy? Here's The Truth
The average auto loan balance grew by 5.2% in 2023, per Experian data. For many, erasing this debt would be helpful, but there are other advantages, too.
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You've Been Warned: This Type Of Savings Account Will Only Hurt Your Finances
When it comes to savings, you have some choices. One key factor to consider is an account's APY. Will your money's purchasing power diminish or grow?
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The Wealthy Use High Interest And High Inflation To Their Advantage (& You Can Too)
While your assets won't make you a one-percenter, that doesn't mean you can't use similar tactics used by the wealthy to grow your money, too.
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What To Do When You're Denied A Checking Or Savings Account
Being denied a checking or savings account today doesn't mean you won't be able to secure one in the future. In the meantime, you have a few easy options.
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What A New Chair Could Mean For The FDIC
On June 13, news came that the White House had chosen Christy Goldsmith Romero as its nominee to take over as head of the Federal Deposit Insurance Corporation.
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Budgeting (33)
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Student Loans: What You Need To Know Before Switching To An IDR Plan
Federal student loan debt accounts for over 91% of all student loan debt in the U.S. This includes 6.2% of borrowers who are 62 years of age or older.
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One Of The Cheapest States To Retire In Is Also A Popular Travel Destination
Looking for a cheap place to retire? A certain Mountain West state offers a natural beauty tourists flock to, but also various ways to save for its residents.
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What Happens If You Miss A Student Loan Payment?
U.S. student loan debt totals $1.753T. If you miss a loan payment, what happens next will largely depend on if you have a federal or a private loan.
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The Best Places To Put Your Extra Money
If you find yourself with some extra money, congrats. But, rather than splurging it, consider better uses for it, including ones in which you can earn a return.
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How Keeping This Old Item Around Can Boost Your Net Worth
Per Experian, the average monthly car payment in 2024 is $735 for a new car and $523 for used. For many, though, there's no need to take on this debt.
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Saving Money Is Easiest If You Live In This US City
According to a new study, there's a Midwestern city where it's easiest to save money. Factors include lower credit card debt and more affordable housing.
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Places In The US Where It's Actually Cheaper To Rent Than Buy
Per Zillow, rent in California is 33% higher than the national median. This said, a recent study finds renting is cheaper than buying in most major U.S. cities.
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11 Outdated Money Rules You Can Stop Following Today
The internet is full of financial advice, some of which is relevant to today's buyers and savers while some theories are now outdated.
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Monthly Expenses You're Forgetting To Put In Your Budget
A budget makes it easier to track spending. Unfortunately, many of us forget to budget for certain expenses, so keep these in mind when creating yours.
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4 Of The Best Tax Breaks After 50 (You May Not Realize You Can Get)
They say the median retirement age is 62. However, there are certain tax breaks you can start to take advantage of before you retire, even as early as age 50.
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Once You Hit This Age, You Should Have A Will
While people may think about retirement planning early on, they likely don't think of writing a will. However, according to financial experts, you should.
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Why Renters Are Winning: Don't Let Society Pressure You Into Buying A Home
The median home price in the U.S. is around $420,000. This makes buying a home for many impossible. Others however, simply rather rent, and that's OK.
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The Highest-Paid NFL Players Make An Astounding Amount Of Money
With 53 players on an NFL team's roster, star franchise players always account for the bulk of a team's total salary. Here's who earns the most.
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The Best Way To Save Money If You're Living Paycheck To Paycheck
Payroll.org reports 78% of surveyed Americans said they were living paycheck to paycheck in 2023. This said, there's often still a way to save each month.
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At What Age Should You Become Financially Independent From Your Parents?
Given the economy, the age young adults become financially independent is different from the past. Yet, there is an age range you and your parents can aim for.
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Clear Signs You're Above Average Financially (Even If It Doesn't Feel That Way)
Contrary to what you may see on social media, if you consistently pay your bills on time and meet these other metrics, you're doing fine financially.
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Is A Fabletics Membership Actually Worth The Price?
For brand activewear, you may have considered subscribing to Fabletics. If so, here's what you need to know to get the most out of your membership.
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The 'Dirty Word' One Expert Financial Adviser Wants To Rebrand
Making sure your paycheck covers all your expenses is a math problem most of us take on each month. It's important to remember, though, to reward yourself, too.
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Scam Warning: Never Respond If Someone Calls You And Uses These Phrases
Per Trucaller's latest scam report, 21% of Americans lost money from phone scams in 2023. To protect yourself, start by learning what to listen for.
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The 3 Worst Personal Finance Mistakes Experts Warn You're Probably Making
CFP Lawrence Sprung shares with us three of the most common mistakes he sees people making when it comes to their finances and retirement planning.
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Why So Many High Earners Are Living Paycheck To Paycheck Today
While you might think high earners who bring home $100K, even $200K a year, are financially set, many deal with the same problems lower-wage earners face.
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How Much Do Artists Actually Make Off Of Spotify?
While Spotify artists need to meet certain streaming requirements to receive royalties, they also can become millionaires without being a chart-topper.
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This Is The Single Most Important Piece Of Expert Financial Advice For Gen Z
Once you're 50, you're allowed to make catch-up contributions to your 401(k) and/or IRA. A CFP explains how Gen Z can avoid needing to make such contributions.
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Unexpected Ways Restaurants Save Money At The Customer's Expense
Thirty-eight percent of restaurant owners reported not being profitable in 2023, with higher food costs a key factor. Learn how many restaurants try and save.
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Yes, Freelancers Can Set Up 401(k) Accounts To Save For Retirement. Here's How
There will be an estimated 80 million U.S. gig workers by 2025. For these individuals, it's important they know what their retirement plan options are.
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20 Tough Money Truths We Wish We Knew In Our 20s
Learning proper budgeting and savings techniques now is essential to building a secure financial future for yourself and your family.
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If You Have Corporate Burnout, Could A Mini Retirement Be The Unexpected Cure?
Given how more Americans are working past the age of 65 today, taking an intentional career break sometime earlier may also turn into a more common thing.
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The Red Flag That Should Make You Run From A Financial Adviser
When choosing a financial adviser, look for someone with this specific license; it requires them, by law, to act in the best interest of their client: You.
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The Most Important Financial Skill For People Entering The Workforce Later In Life
Labor participation for those 55 to 64 is forecast to be 37.4% in 2032. That said, CFP Lawrence Sprung names the one financial skill older workers should hone.
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Subway Vs. Jimmy John's: Which Chain Offers A Bigger Bang For Your Buck?
According to ScrapeHero, there are 7.67 times more Subway shops in the U.S. than Jimmy John's. If you have both in your area, here's how they compare.
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Start Paying Attention To Your Cellphone Bill. Here's Why
As a monthly bill, any change to the cost of your cell service can add up quickly. Consider, $5 isn't much, but in a year, that's $60, which is a bit different.
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This Is The Best Age To Consider Disability Insurance
Disability insurance is a type of coverage many likely think is for older workers. However, as with health insurance, disability coverage is for everyone.
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The 24-Hour Rule Is The Money-Saving Hack You Need
Today, products and services are literally a click (or tap) away, making spending easier than ever. Employing the 24-hour rule can help curb such spending.
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Collectibles (4)
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The Unexpected Value Of Your Old Stamps Today
Linn's Stamp News estimates there are ~5 million U.S. stamp collectors. If you want to join in with your stamps, here's what you need to know about the hobby.
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The Unexpected Value Of Your Old Concert Posters Today
Given the fact that ephemera like concert posters weren't meant to last, it's not surprising to find some hold particular value as pieces of history.
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Valuable Sports Cards That May Be Hiding In Your Closet
These five cards are ones fans (and readers) were likely to come across in their time. Their high values? The result of who the athletes would become.
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The Unexpected Value Of Your Old Beanie Babies Today
Everyone knows Beanie Babies with their heart-shaped Ty tags. In the '90s, they were all the craze, but only some have held on to their collectible value.
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Earning (3)
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Here's How Much Team USA Athletes Make For Winning Olympic Gold
Team USA winners at the Paris Games will each receive a medal bonus. This year, track-and-field gold winners will also receive prize money from World Athletics.
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The Economic Impact Of A Global Tech Outage
The July 19 global tech outage that brought down millions of computer systems served as a stark reminder of how interconnected the world's IT infrastructure is.
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Why Don't All Jobs Pay Overtime?
Why you may work beyond a 40-hour workweek, you may not be entitled to overtime pay; it depends on if your position is classified as exempt or nonexempt.
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History (1)
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5 Of The Biggest Sports Betting Long Shots Of All Time
An underdog's upset victory means big winnings for the bettors who believed in them. And in the case of these long shots, those wins are still hard to believe.
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Investing (13)
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Telltale Signs A Romance Scammer Is Making A Move On Your Money
Per the FTC, consumers reported 64,003 romance scams in 2023. And out of all imposter scams, romance scams bilk victims out of the most money on average.
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Sports Gambling ETFs That Are Worth A Look
As sports betting in America continues to grow, investors may be looking for a way to be part of this growth. One option is to buy into a sports gambling ETF.
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The One Financial 'Celebrity' Real Experts Actually Respect
Separating the financial professional from the celebrity is key to getting trusted advice today. Though mega-famous, this person falls in the former category.
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Will FTX Investors Get Their Money Back?
FTX filed for bankruptcy on November 11, 2022. Since, investors continue to wait to see when their lost money will be returned. Here's where things stand today.
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Red Flags Of Recession: Could The US Be Heading Toward One?
As the Fed aims to steer the economy toward a soft landing, the recession watch continues as well. U.S. economic growth slowed to 1.4% to start 2024.
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Avoid This Terrible Retirement Advice Making The Rounds On Social Media
CFP Lawrence Sprung tells us he's worried people who follow influencer financial advice might be getting the wrong idea about how to best save for retirement.
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Read This Before You Consider Any Automated Investment Platform
Robo-advisers offer you a way to start investing, even without much knowledge. For a more personalized strategy, though, you may want to think twice.
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AI's Impact On The Financial Advisory Industry
Speaking to us about AI's impact on his industry, CFP Lawrence Sprung explained how the technology allows professionals like him to help clients even more.
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What To Look For In AI Trading-Bot Scams
While AI is definitely changing the way traders trade and investors manage their portfolios, the technology has also opened the door for new financial scams.
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You've Been Warned: Life Insurance Is (Usually) A Bad Way To Save For Retirement
When it comes to life insurance and retirement planning, Lawrence Sprung explains why, for the majority of the investing public, these policies aren't ideal.
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The Most Successful Stock Of All Time
Given the companies that comprise the so-called Magnificent Seven, you might think the most successful stock of all time is from the tech sector. It's not.
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You May Already Own Nvidia Stock And Not Even Know It
If you feel like you're on the outside looking in when it comes to Nvidia's stock, check your portfolio first. It's possible you might be in on it after all.
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The Worst Financial Mistake People In Their 50s Tend To Make
According to MassMutual, the ideal retirement age is 63, which means that if you've just turned 50 or you're in your 50s, there's still time to plan and save.
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Luxury (2)
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The US Has 550 'Million-Dollar Cities.' This State Accounts For 38% Of Them
A million-dollar city is a city where the cost to buy a home is $1M or more. As U.S. home prices continue to rise, the number of these cities does as well.
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What Is The Most Expensive Tattoo Of All Time?
About a third of Americans have at least one tattoo. Though, none are likely like the most expensive tattoo ever, which was meant to be a one-of-a-kind design.
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Shopping (9)
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Listen To This Type Of Music While Grocery Shopping To Save Money
Hearing music while grocery shopping is a given, but ever think about the type of music? Turns out there's a reason why stores choose the playlists they do.
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The Upsetting Reason To Avoid Buying A Home In These American Cities
While high home prices and homeowners insurance account for much of the homebuying equation, there's another factor for buyers to consider, too: climate change.
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Problematic Things You'll Find In A Foreclosed Home
While foreclosed homes often present a solid financial opportunity, there are things that often come with such properties you should be prepared for.
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Car Shopping Guide: When To Buy New, Buy Used, Or Lease
Per Consumer Reports, used car prices are down 10% from a year ago. In this guide, we go over other factors you should weigh when buying or leasing a car.
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How Much Do Americans Actually Spend On Amazon Each Month?
How much consumers spend on Amazon largely depends on if they're Prime members or not. Analysts estimate there are some 180 million Prime members as of Q1 2024.
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Super-Successful Businesses That Rejected Their Shark Tank Offers
Even when deals don't close on "Shark Tank," entrepreneurs likely benefit from the exposure. That certainly was the case for these two million-dollar ideas.
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Beware: Amazon Prime Day Deals Aren't Always All They're Cracked Up To Be
Prime Day has become the summer's Black Friday. That said, when it comes to deals, it doesn't hurt to do your due diligence to ensure you get the best bargain.
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Finding The Best Deals At Lowe's
Lowe's is tailored more to homeowners than some competitors, and offers several ways that shoppers can save money the next time they're in.
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You've Been Warned: Buying A New Car This Summer Is A Big Mistake
Transportation is the second-biggest expenditure for most U.S. consumers. So, finding ways to save is always welcome, such as buying at the right time of year.
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Spending (2)
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You've Been Warned: This Convenient Money Habit Will Cost You While Traveling Abroad
When traveling abroad, overpaying for things, even by a little, can add up quickly. Instead, ensure you get the best deal by paying for your items like this.
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5 Of The Most Gut-Wrenching Gambling Losses In History
A losing $5 lottery ticket may have you thinking about it (and its opportunity cost) all week, but imagine gambling away millions in a day, or even, hours.
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Taxes (3)
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The Real Reason Britain Is Losing So Many Millionaires
A recent report finds the United Kingdom is to see the second-biggest loss of millionaires in 2024. This one tax rule looks to be a key reason as to why.
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The Hidden Truth Behind Estate Sale Tax Implications
An EstateSales.NET 2023 survey found that the most common reason for an estate liquidation is the loss of a loved one. Downsizing or moving came in second.
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Are Remote Workers Taxed Differently?
A lot more people in the U.S. are working remotely these days, with the Pew Research Center estimating that 22 million people are doing so on a full-time basis.
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