MoneyWatch

While inflation and elevated interest rates have hurt the wallets of millions of American borrowers, there has been a silver lining: high returns on savings accounts. In today’s inflationary climate, it’s not difficult to find a high-yield savings account with an interest rate of 4.5% or higher— or a certificate of deposit (CD) with a rate over 5%. Select savers …

Filing for bankruptcy can be a challenging and overwhelming period in your financial journey. But while the bankruptcy process can be tough, and can result in serious financial hurdles, it’s also a relatively common option to choose. For example, annual bankruptcy filings totaled 452,990 in 2023, according to a report from the Administrative Office of the U.S. Courts — an …

Credit card debt forgiveness has been a hot topic as of late. With the federal funds rate target frozen at a 23-year high, credit card interest rates have risen significantly in recent years. And since interest makes up a sizable portion of credit card minimum payments, many are dealing with higher monthly payments today than they were just a couple …

Inflation remained stubbornly high in January, possibly pushing back any interest rate cuts by the Federal Reserve. Still, the long line graph indicates a cooling trend, albeit a bumpy one. Nevertheless, lenders have already begun lowering mortgage rates in anticipation of any cuts to the federal funds rate. According to Freddie Mac, the rate on a conventional 30-year fixed-rate mortgage …

Credit card debt can be overwhelming, especially in today’s high-rate environment. And, since the majority of a credit card’s minimum monthly payment is interest, rising interest rates can result in larger credit card bills. Combine that with the increasing costs of consumer goods and it’s easy to see how many people are facing financial hardship. So, what can you do …

After promising that its software would shield internet users from third-party tracking, Avast allegedly harvested and sold customers’ online browsing data, according to the Federal Trade Commission. The maker of antivirus software deceived customers by claiming it would protect their privacy, while not making clear it would collect and sell their “detailed, re-identifiable browsing data,” the agency announced Thursday. “Avast …

Yale University on Thursday said it is reversing a pandemic-era policy that made standardized test scores like the SAT exam optional for applicants, joining other top colleges such as Dartmouth and MIT. In a statement posted to its website, Yale said it is abandoning the test-optional approach that it began four years ago, when the pandemic shut down testing centers …

More than half of Americans who earned college diplomas find themselves working in jobs that don’t require a bachelor’s degree or utilize the skills acquired in obtaining one. What’s worse, they can get stuck there for the entirety of their careers. If a graduate’s first job is in a low-paying field or out-of-line with a worker’s interests, it could pigeonhole …

United Airlines said Friday it is increasing checked bag fees on all flights in North America, joining other carriers that have recently boosted such charges. Economy class passengers on domestic United Airlines flights will now pay an additional $5, raising the cost for their first checked bag to $40. The fee for a second checked bag will also rise $5, …

H&R Block marketed its tax-preparation products as free yet deleted the data of customers as way to pressure them into paying for pricier services, the Federal Trade Commission alleged on Friday. The tax-preparation software giant’s online tax-filing products lead users to costlier products made for more complicated tax filings, even if they don’t need the additional forms and schedules offered, …