The first half of 2021 is behind us. As life emerges from the pandemic to a “new normal,” a mid-year financial checkup may be more important than ever this year. Here are some ways to make sure that your financial situation is continuing on the right path. Reassess your financial goals At the beginning of
There have been four student loan payment pauses since the start of the pandemic. The latest pause extends repayment obligations for federal student loan borrowers to January 31, 2022. On August 6, 2021, the U.S. Department of Education announced an extension of the pause on federal student loan payments to January 31, 2022. The payment
If you pay attention to financial news, you are probably seeing a lot of discussion about inflation, which has reared its head in the U.S. economy after being mostly dormant for the last decade. In May 2021, the Consumer Price Index for All Urban Consumers (CPI-U), often called headline inflation, rose at an annual rate
As your parents age, they will probably need more help from you. But it may be difficult to provide the help they need, especially if they’re experiencing financial trouble. Money can be a sensitive subject to discuss, but you’ll need to talk to your parents about it in order to get to the root of
For many teenagers, getting a driver’s license is a rite of passage that brings them one step closer to adulthood. Unfortunately, distracted driving, drinking and driving, and not wearing a seat belt are just some of the known risks associated with teenage drivers.1 Most parents are painfully aware that automobile crashes are a leading cause
Home-improvement spending normally lags during recessions, but COVID-19 sparked an unexpected surge in do-it-yourself renovation and maintenance projects. Many households whose finances held up during the pandemic devoted time and money to making their indoor and outdoor living spaces more functional and comfortable for working, learning, and recreation. Sources: Joint Center for Housing Studies of
In general, workers seem to begin preparing for retirement almost as soon as they get their first job. However, according to the 2021 Retirement Confidence Survey by the Employee Benefit Research Institute (EBRI), retirement preparations do vary a bit by age group. Retirement Preparations Nearly three-quarters (72%) of workers say that they or their spouse
After two years of decreases, interest rates on federal student loans are set to increase almost a full percentage point for the 2021-2022 school year.1 The interest rates on federal student loans are reset each year after the May auction of the 10-year Treasury note. The rates apply to new federal student loans issued on
U.S. consumers won’t soon forget the troubling shortages of personal protective equipment during the early days of the pandemic, or when the first stay-at-home orders spurred panic buying and stress-inducing shortages of toilet paper, cleaning products, and food. Now, as the economy reopens fully and all at once, consumers are again experiencing a wide array
Despite the economic shock of the coronavirus pandemic, American workers and retirees remain largely optimistic about their financial prospects for retirement. In its annual Retirement Confidence Survey conducted in January 2021, the Employee Benefit Research Institute (EBRI) found that 80% of retirees and 72% of workers were either very or somewhat confident in their ability
