It’s been difficult to watch the action in the stock market lately. The Federal Reserve, or Fed, is moving to combat inflation at levels we haven’t seen in more than four decades, and most financial experts agree that there’s a high probability of an economic recession in the near term.  Of course, the market is … Read more

Think you don’t need a renters insurance policy unless you’re older, well-off, and have expensive furniture or art collections? If so, you’ve bought into one of the myths about renters insurance. And without basic personal liability coverage for your property, you’re playing fast and loose with your financial future. Peace of mind is priceless, and … Read more

It’s possible to make $100s just by opening up a new bank account. But sorting through the best offers can be tricky. There’s no shortage of enticing opportunities for banking clients right now. We’re happy to do the work for you. The Money Crashers team combs through hundreds of bank account deals every month to … Read more

Individual bank account bonuses and rewards programs come and go. But it’s basically a given that dozens of online banks (and brick-and-mortar banks and credit unions) offer enticements to new and longtime account holders at any given time. The same is true for opportunities to earn high yields (high-interest payouts) and generous rewards on other … Read more

At a Glance The Consumer Financial Bureau has fined Wells Fargo $3.7 billion for repeated legal violations. These violations include misapplying loan payments, charging incorrect interest and fees, and wrongfully foreclosing on homes and repossessing vehicles. This is just the latest in a long series of scandals for the bank over the past decade. On … Read more

If you travel regularly, you should have at least one travel rewards credit card in your wallet. The more you travel, the more specialized — and generous — that card needs to be. I’ve had several travel credit cards over the years. Most have been general-purpose cards like the Capital One Venture X rewards card, … Read more

Quick Look Home equity is how much of your home you own based on how much you’ve paid off. You can borrow against your home equity. But borrowing against your home equity isn’t always the right move. A cute little house with a white picket fence is a lot more romantic than the portion of … Read more

Quick Look The Fed raised interest rates by 50 basis points this week. Economists expect a smaller 25-basis-point hike on Feb. 1, 2023. Interest rates on credit cards and mortgages will continue to increase as a result. Savings account yields could increase as well. The Fed hopes to stop hiking rates in Q1 or Q2 … Read more

A certificate of deposit, or CD, is an excellent place to park cash you don’t need right away. It’s insured by the federal government, it usually pays more than a standard savings account, and its yield (interest rate) is guaranteed for the entire term. That rate guarantee is important because CD rates can be volatile … Read more

Being in debt sucks. Believe me, I know. There was a point when I found myself in way more credit card debt than I’d like to admit as a personal finance expert. My husband’s chronic illness flared up, and suddenly we were facing mounting medical bills at the same time he had to stop working. … Read more