MoMo Productions/Getty Images Key takeaways Almost all workplace 401(k) plans let workers save extra money for the future, so long as you meet age requirements. Those age 50 or older can contribute an extra $7,500 per year. And, starting this year, individuals aged 60-63 can now make “super catch-up” contributions…
Photography by Getty Images; Illustration by Bankrate Key takeaways Snow and ice are covered by home insurance in some instances, like if your roof collapses or a tree falls on your home. When it comes to roof leaks, it will depend on scenario specifics. Some snow-related roof leaks will be…
Key takeaways Credit card issuers may choose to reject your application even if you have a good or excellent credit score. Factors like previous credit mistakes, too many applications and too many cards can affect your approval odds. If you were denied a credit card with good or excellent credit,…
Key takeaways Seasoning, for mortgage-related purposes, refers to the amount of time you’ve had funds in your bank account — specifically, the money to cover the down payment and closing costs. For mortgages, money becomes “seasoned” after it’s been in an established account from 60 to 90 days. Seasoning requirements…
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While there has been much conversation on not buying from companies with poor diversity, little has been said about investing…
Lifestyle inflation occurs when your expenses increase as you earn more income. It can start subtly—dining at pricier restaurants, upgrading…
Chime, the largest digital bank in America, grew its revenue to $1.7 billion in 2024, an increase of roughly 30%…
Technology has transformed some parts of the daunting homebuying process–making it easier to search and compare properties online, to prepare…
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Since President Donald Trump took office earlier this year, the regulatory agencies that oversee the U.S. mortgage market have been on the chopping block. The Trump administration has moved quickly to scale back both the size and the scope of the federal government, including ordering…
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By Garrett Johnson For Canadians, tariffs on American goods could mean higher prices for the average consumer. With over 70% of Canada’s trade…
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Apple, FedEx and Oracle all got loans guaranteed by the Small Business Administration. But rules and red tape keep many banks from making…
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Images by GettyImages; Illustration by Bankrate Key takeaways Wire transfers, third-party apps and checks are all valid ways to transfer money from one bank to another. Each method has its own speed, cost and limits for transfers. Some options can transfer funds within minutes, though you may have to pay…
Key takeaways Higher education costs are rising, but there are several ways to make paying for college feasible. Grants, work study and scholarships are forms of aid that do not need to be repaid. Loans are another option, but consider federal loans first, as they offer perks you won’t get…
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict editorial policy, so you can trust that…
Key takeaways Generally, paying off your student loans with the highest interest rates first is the best repayment strategy. Consider paying off private student loans first due to higher rates, shorter repayment terms, lack of loan forgiveness, and lack of options for income-driven repayment. Student loans tend to have lower…
Key takeaways It’s crucial to understand how residual interest is calculated, especially if you carry a balance on your credit card. If not properly managed, residual interest can impact debt repayment and your credit score, which may take time to recover. Failure to pay residual interest can also lead to…
Chuck Savage/Getty Images Key takeaways Create an account with your loan servicer to begin making student loan payments. Discuss your repayment options with the servicer, which will vary depending on the type of student loan. Be sure to know what you owe and adjust your budget to free up disposable…
The biggest tax question on most people’s minds, once filing season gets underway, is whether they’ll get a refund or owe the IRS money. The average tax refund so far this year is $3,221, a full $140 higher than the average tax refund of $3,081 for the same week a…
Images by GettyImages; Illustration by Hunter Newton/Bankrate The best bank and credit union for you will depend on your banking needs, but in general, the best banks offer accounts with low or no minimum balance requirements and don’t charge monthly fees — or at least allow you to waive them.…
Bloomberg / Contributor / Getty Images It seems like only yesterday that Robinhood waltzed onto the brokerage scene to show the grownups how kids these days think things should be done around here. Trading commissions? Hard pass. Crypto? Heck, yeah! Binary options — er, “events trading”? Check. How time flies. With its…
Key takeaways There are many ways to deposit a check, including through a bank branch, ATM, smartphone, online or through the U.S. Postal Service. Precautions should be taken when depositing checks, such as endorsing the check and using valid identification. It is important to confirm the legitimacy of a check…
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