Personal Finance
What the Fed’s first rate hike in years means for your wallet
The Federal Reserve’s first interest rate hike in more than three years is likely to increase borrowing costs for many consumers, particularly those carrying variable-rate debt such as credit cards and home equity lines of credit. Earlier this month, the Fed…
Average 401(k) balance hits record $155,800 in second quarter: Fidelity
Americans’ 401(k) balances reached a record high in the second quarter of 2026, new data shows. The average 401(k) balance climbed to a record $155,800 in the second quarter of 2026, up 10.5% from the previous quarter and 13.1% from a year earlier, according…
Retirement account balances dip in Q1 2025 as savings rates hit record high
Retirement account balances dipped in the first quarter due to stock market turbulence. Still, people kept socking away money for their retirement, according to new data from Fidelity Investments. The financial services company analyzed more than 50 million…
Personal finance expert tackles ‘widespread’ financial misconceptions
Managing one’s finances can be challenging, especially when faced with conflicting — and often wrong — information fed to people, especially on social media. Buying into common misconceptions surrounding money can be harmful, putting someone on their back…
Americans more reactive about finances as planner numbers drop to 40%
How people tackle their finances can vary but, according to new research from PYMNTS, there are two ways that are most common. PYMNTS found just 40% of American consumers are “planners,” meaning their strategy for money had more foresight. That figure has…
Study reveals retirement costs without Social Security across states
Retirement remains top of mind for many Americans, whether they are approaching their so-called “golden years” or have many years to go before leaving the workforce. How much money a person needs to have saved to retire without financial stress is an…
FICO to include buy now, pay later data in new credit score models
FICO said on Monday that it is going to incorporate buy now, pay later (BNPL) data into credit scores as the payment method surges in popularity. The FICO Score 10 BNPL and FICO Score 10 T BNPL will be the first credit scores from a leading credit scoring…
Americans now say $2.3 million net worth makes you wealthy, survey finds
The average net worth that Americans feel is needed to qualify as wealthy has surprisingly declined, compared to last year, though it is still an eye-popping figure, Charles Schwab found. The financial services company said in the latest edition of its…
AI financial advisers may soon outperform humans in wealth management decisions
For decades, Americans were given the same advice about money: Find a good financial adviser. Trust the person, not just the process. That model worked when markets were simpler, tax laws changed more slowly, statements arrived quarterly and financial…
Jobs market may determine if credit scores continue declining in 2026
A strong credit score can be the key to major financial purchases and affordable loans, but some states saw notable declines that created a “perfect storm” for Americans’ wallets, according to a credit repair expert. On Thursday, WalletHub released its list…
Tax-efficient Diversification Techniques | Fox Business
Investors are increasingly focused on not just how they invest their money but also how they can optimize their after-tax investment outcomes. Allspring Global Investments is dedicated to helping investors navigate the evolving tax and estate planning…
ETFs or mutual funds? How to choose in today’s market
As more Americans take a hands-on approach to their finances, many are weighing whether to invest in exchange-traded funds (ETFs) or mutual funds. Both offer a simple way to build a diversified portfolio of stocks or bonds, and at their core, the two…