Category: Personal finances

The lights are strung, presents have been bought and plans are set for holiday entertainment. For many people it’s time to leave work behind and enjoy the last few days of the year.

However, if you can find a few minutes to spare before turning out the lights on 2021, it may be worthwhile to review your finances and make some last-minute moves. Here are five possible actions that won’t take much time and may end up saving you plenty down the road.

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Maximize 401(k) Retirement Plan Contributions

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The personal finance industry has been witnessing shifts in trends every year, especially as technology and its applications continue to develop. But the pandemic has put a spotlight on personal finance. It gained higher priority as people realised the importance of financial planning and protection, leading to many experimenting with digital offerings at a time when physical interactions were restricted. As with several other industries, the personal finance market too saw a boom in digitisation, with existing digital players seeing an uptick and legacy players rushing to modernise.

The i…….

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Bottom line: The SavorOne Rewards for Good Credit from Capital One doesn’t offer a welcome bonus. like some of the other Capital One Savor cards, but it’s a good option for earning up to 3% cash back in pop…….

With shutdowns and layoffs looming throughout the year, personal finances have been a big concern since the start of the pandemic.

President Biden announced today that he is extending the pause on student loans, until May 1st. For those with federal student loans, the pause on payments was a welcome relief, one that now continues.

After taking advantage of the pause on payments last year, this additional extension has Brittany Cannon ready to ease back into paying what she owes.

“Definitely, it was definitely helpful. I am ready, I think. I think I’m caught up with everything so I’m at least ready to start trying ag…….

The National Retail Federation expected consumers to spend about $1,000 on average for gifts and holiday items.

GREENSBORO, N.C. — “This is the one time of year that people tend to overspend because you want to get presents for everybody,” Ja’Net Adams, money expert, said.

Giving and receiving gifts is one of the best parts of Christmas, but once the spirit of the season dwindles and the first of the month rolls, around many may panic seeing all those bills.

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Welcome to Taking Stock, a space where we can take a deep breath and try to figure out what the COVID-19 economy really means for our finances. Every month, personal finance expert Paco de Leon will answer your most difficult, emotionally charged questions about money. This year has forced many of us to reprioritize our finances, and there’s no clear road map for getting through the pandemic yet — but Taking Stock is here to help us figure it out together.

Last time, we talked about whether it’s ever justified to spend half your paycheck on rent. This week, we asked Refinery29 readers the highest amount they’ve ever spe…….

New Hampshire parents and others gather outside of Sen. Maggie Hassan’s Manchester office on Sept, 14, 2021..

Scott Eisen | Getty Images Entertainment | Getty Images

Democrats on Capitol Hill will face a big task when they regroup in the new year — finding common ground on the Build Back Better legislation.

One key question leaders will address in the negotiations is whether to extend the enhanced child tax credit — which was temporarily increased to $3,000-to-$3,600 per child as part of Covid-19 relief enacted earlier this year.

“It seems like the child tax credit is a major sticking point right now,” sai…….

Author Kelley Keehn, in Toronto, on Nov. 13, 2019.Christopher Katsarov/The Globe and Mail

Note: This is the last Carrick on Money newsletter for 2021. Have a happy holiday and stay safe. The newsletter returns on Jan. 4 to begin what I think will be another epic year in personal finance.

I remember interviewing Kelley Keehn about her first personal finance book and being struck by her mention of the cost burden of diapers if you’re a new parent. Female personal finance writers were rare back in the early 2000s, …….

The Federal Reserve’s preferred inflation gauge, the so-called PCE price index, vaulted again in November, this time hitting its highest level in nearly four decades and delivering a fresh data point reinforcing the persistence of inflationary pressures.

The Commerce Department reported on Dec. 23 that the headline Personal Consumption Expenditures (PCE) price index rose by 5.7 percent in the 12 months through November. That’s a higher pace of inflation than the 5.1 percent logged in October, which was the highest since 1990, and nearly three times higher than the Fed’s inflation target of 2 percent. It’…….

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Debt consolidation lets you roll several high-interests debts into one manageable payment. Find out whether it hurts your credit. (iStock)

If you want to lower — or simplify — your monthly debt payments, debt consolidation may be right for you. It can help you organize your finances and make it easier to pay off debt. With de…….