I bonds are the one investment everyone should have right now

If there’s one investment everyone should have right now, it’s a series I bond, according to personal finance expert Suze Orman. The variable interest rate of the bond is based on inflation, which means that the asset currently has a high yield. The Consumer Price Index rose 8.6% in May, the highest rate since 1981. … Read more

Emergency savings take a hit as households tighten short-term finances

A woman pushes a shopping cart through the grocery aisle at Target in Annapolis, Maryland, on May 16, 2022, as Americans brace for the shock of the summer tag as inflation continues to grow. JimWatson | AFP | fake images It seems that emergency savings are another victim of high inflation. About one-third of adults … Read more

Michigan becomes the 14th state to require personal finance education

Michigan Governor Gretchen Whitmer addresses the state during a speech in Lansing, Michigan on October 8, 2020. Michigan Governor’s Office via AP Michigan is now officially the 14th state in the US to ensure that its students have access to a personal finance education course before they graduate from high school. On Thursday, Governor Gretchen … Read more

How entrepreneur Tori Dunlap saved $100,000 and quit her job at 25

Having an emergency fund should be the cornerstone of your personal budget. Experts recommend having at least three months of expenses in savings to deal with unforeseen events. But how much money should you save before intentionally quitting your job? That is a more difficult question to answer. For Tori Dunlap, founder of the women-focused … Read more

Michigan will be the 14th state to mandate personal finance education

Michigan Governor Gretchen Whitmer poses at an event where General Motors announced an investment of more than $7 billion in four Michigan manufacturing sites on January 25, 2022 in Lansing, Michigan. Jeff Kowalski | AFP | fake images High school students in Michigan will soon be guaranteed a course in personal finance before they graduate. … Read more

Michigan will be the 14th state to mandate personal finance education

Michigan Governor Gretchen Whitmer poses at an event where General Motors announced an investment of more than $7 billion in four Michigan manufacturing sites on January 25, 2022 in Lansing, Michigan. Jeff Kowalski | AFP | fake images High school students in Michigan will soon be guaranteed a course in personal finance before they graduate. … Read more

This advisor started a non-profit financial organization to empower women.

stacy francis Source: Stacy Francis Stacy Francis never planned on becoming a financial advisor, especially for women going through divorce. But an honest conversation with her grandmother changed the trajectory of her career. His grandmother, Myra, was a victim of spousal abuse and, before she passed away, confessed to staying in her marriage because she … Read more

The Fed will raise interest rates again soon. Make these money moves now

Federal Reserve Chairman Jerome Powell. Xinhua News Agency | Xinhua News Agency | fake images Americans are dealing with a period of rapidly rising interest rates for the first time in years. The Federal Reserve released minutes from its latest meeting on Wednesday, showing the central bank plans to make more 50 basis point rate … Read more

Why 2022 has been a dangerous time to retire and what to do about it

mdphoto16 | E+ | fake images It’s a scary time for new retirees. Stocks have plummeted this year. Bonds, which traditionally serve as a drag when stocks falter, have also been hit. Both of these trends are concerning for seniors who rely on investments for their retirement. High inflation also means retirees need to earn … Read more

Bank balances surged during Covid even as pandemic-era stimulus ended, says BofA CEO

Bank of America account holders saw strong growth in their balances during Covid and have yet to spend their pandemic-era stimulus money, CEO Brian Moynihan told CNBC. In an interview at the World Economic Forum’s “Squawk Box” in Davos, Switzerland, the BofA president said customers who had between $1,000 and $2,000 before the pandemic now … Read more