Savings
Top personal finance New Year's resolutions for 2025
The elevated inflation in recent years continued to wreak havoc on many Americans' wallets in 2024, but the start of the new year provides a…
Your best advisor to finance and money management.
Explaining Finance is your one-stop website for the latest news, updates, and tips about finance.
Latest News
5 ways to pay off debt this Labor Day
Americans have amassed record-high debt amid high inflation and recession fears. But there are ways to get back on track.…
GDP growth for Q2 dips on second estimate
Real gross domestic product (GDP) grew at an annual rate of 2.1% in the second quarter of 2023 following a…
IRS announces changes impacting catch-up contributions
The Internal Revenue Service (IRS) is changing limits on Americans’ catch-up contributions to their retirement accounts that will be in…
Americans depend on credit cards more than ever: survey
Amid high inflation and rising interest rates, many Americans are becoming increasingly dependent on credit cards, according to a survey…
More than half of Gen Xers stopped saving for retirement, here’s why: Survey
Amid record-high debt and stubborn inflation, Gen X has struggled to save for retirement, according to a survey by Clever…
401(k) participation rates reach all-time high: Vanguard
401(k) participation reached a record-high rate of 83% this year, according to a report by Vanguard. "It is encouraging to…
Summer savings: Students can combat expensive educational costs ahead of school
To avoid years and years of debt after college, it is important to make financially smart decisions while you are…
If you win the lottery, these are steps to take ASAP
One lucky Powerball winner in California is sitting with the $1.08 billion ticket drawn Wednesday night and 36 others, across…
How to save up for a boat without drowning in debt
Have you ever dreamed of cruising on the water's surface on a beautiful boat? Tunes playing, sun shining with a…
Retirement account balances rise despite economic turmoil: Fidelity
Despite economic volatility, retirement account balances increased in the first quarter of 2023 for the second quarter in a row,…
How to save money from your side hustle
A recent Bankrate.com survey revealed that 39 % of U.S. adults have a side hustle, and 44% of those with a side…
Student loan scam attempts likely to rise after SCOTUS decision: FTC
Following the Supreme Court's decision to strike down President Joe Biden’s student loan forgiveness plan, the Federal Trade Commission (FTC)…
Inflation shrinks summer vacation budgets for many Americans, survey says
More Americans are planning a summer trip this year compared to last year, but plan to spend less overall, a…
More Americans seeking advice from financial institutions: report
In light of recent bank shutdowns and economic uncertainty, Americans said they are looking to their financial services providers for…
Many Americans identify what will help them weather a financial crisis: Survey
Most Americans agreed that the economy is in or near a financial crisis. Still, many believed that having a plan…
Financial professionals recommend investing your bonus in your 401(k): Survey
Even though about 75% of financial professionals say workers should invest bonuses in their 401(k) plans, only 17% of employees…
Mortgage delinquency rates drop to all-time low: CoreLogic
In March, only 2.6% of all mortgages in the U.S. were in some stage of delinquency, according to the loan…
Gen Z, Millenials have bleak outlook on financial futures, study finds
With recession fears and activism both on the rise, younger generations of U.S. adults have more confidence that they can…