Illustration by Hunter Newton/Bankrate While most 24-year-olds are preparing to leave the warm embrace of their parents’ health insurance, Jocelyn Becerra had something else in mind — becoming a homeowner. Two years ago, Becerra bought her house in Bentonville, Ark., after a year of buckling down to save up. She…
Key takeaways A first-time homebuyer is someone who has never owned a home or who has not owned a home in the last three years. Buying a new house involves many steps, from securing a mortgage to negotiating with sellers and navigating the underwriting process. First-time homebuyer programs offer mortgages…
Physicians tend to start earning later than most professionals after years of training, and many carry significant student debt by the time they begin practicing. Once they reach attending-level income, however, they often move into higher tax brackets quickly. Whether a doctor works as a hospital employee or runs a…
Tax planning is complicated enough in one country. Add a second, and things get more complex in a hurry. Overlapping tax obligations, foreign reporting requirements, and the risk of being taxed on the same income twice all come into play. Whether you’re a U.S. resident earning income abroad, a business…
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Last year, on the day before Tax Day, my mom was scheduled to fly into Philadelphia International Airport to stay…
The nation’s 75 million Social Security recipients will receive a 2.8% cost of living adjustment (COLA) increase in their benefits…
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Key takeaways Preapproval will help you get the best rate available and give you leverage to negotiate at the dealership. Consider the overall cost of an auto loan in addition to the monthly payment — and don’t clue the dealership salesperson in on your budget…
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You’ve accomplished the first step on the road to financial recovery after being entrenched in debt. So, what’s next? For starters, you’ll want…
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For fintech startups, the first five years of the decade have been a roller-coaster ride. At the outset, companies were awash in easy…
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Deciding how to file your taxes as a married couple can have a meaningful impact on your return. Depending on your situation, it may affect how much you owe or receive. Many couples assume married filing jointly is always the better choice, but that may not be true in every…
The standard deduction for a widow over 65 can be higher than that of the average taxpayer. This has the potential to lower your taxable income and reduce your federal tax bill. This is because widows may be able to file as a “qualifying surviving spouse.” They have two tax…
When I offered my annual credit card predictions around this time last year, I speculated that regulatory issues would dominate the credit card landscape in 2025. I wrote: “The biggest credit card industry development of 2024 occurred in February when Capital One announced an agreement to acquire Discover for $35…
Thomas Barwick/Getty Images What’s considered a “high” credit limit varies depending on a person’s credit history and income, but in general, high-limit credit cards come with credit limits of $10,000 or more. You won’t typically know your actual credit limit until you apply for your new card, however, regardless of…
Illustration by Hunter Newton/Bankrate You’ve lost your job. Who are you going to call? It might have to be your mortgage lender. A cooling job market is colliding with high homeownership costs, putting many people into a particular new squeeze: a loss of income and a monthly payment that was…
Spousal benefits are Social Security payments based on a spouse’s lifetime earnings record, and a spouse may receive up to half of the working spouse’s benefit. Eligibility is automatic, but payments do not begin until the spouse files an application with the Social Security Administration. To help explain this, let’s…
After two years of cheaper deals and better prices, holiday shoppers may have to reach deeper into their wallets again this season, as inflation makes an unwelcome return to many of the items households buy this time of year. More than 3 in 4 holiday staples (78%) have gotten more…
Image: Getty Images; Illustration: Bankrate Home equity rates were unchanged in the latest week, holding at their lowest point in two years. The $30,000 home equity line of credit stayed at 7.81%, according to Bankrate’s national survey of lenders. Meanwhile, the benchmark five-year $30,000 home equity loan also didn’t budge,…
Image by PM Images/Getty Images; Illustration by Hunter Newton/Bankrate Mortgage rates jumped higher this week, with the 30-year fixed rate averaging 6.37%, up from 6.29% the previous week, according to Bankrate’s latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago 52-week average 52-week low…
At a time of sticky inflation and a softening job market, extra money in the bank can serve as a lifeline for many consumers. Yet 8 in 10 Americans did not increase their emergency savings this year, a new Bankrate survey found, leaving them in no better financial position to…
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