personal finance

The coronavirus crisis has Americans hoarding more money than ever before as widespread fear paralyzes consumer spending habits. The swiftness and severity of economic recovery in the U.S. hinges on whether consumers continue to stockpile cash or start to spend again.  The personal savings rate hit a historic 33% in April, the U.S. Bureau of Economic Analysis said Friday....

The coronavirus pandemic has battered Americans’ household finances, but another major threat lies around the corner: hurricane season.

In normal times, not paying your student loans can crush your credit score. During the pandemic, however, federal student loan borrowers were supposed to get a break from their bills, and their lenders were supposed to report their payments as on-time anyway. That’s not how it’s playing out.

Unsecured personal loans can pay for almost anything. Their flexibility makes them easy to turn to when you want to consolidate your debts or put in that kitchen island. But first assessing all your financing options can save you money. As the economy shifts, so will the way a personal loan fits into your plans. Right now, for example, the…

When it comes to the economic fallout from the coronavirus pandemic, many young professionals are asking, “Will I still have a job?” And no wonder, as 63% of young Americans are worried they will lose their jobs versus 52% of Americans overall, a survey from TD Ameritrade found. Those fears are not unjustified, with 1 in 3 young Americans reporting…

Sandra Speier is among the millions of Americans who have filed for unemployment benefits in recent weeks. But, a month later, her application is still in limbo. The Miami resident, a single mother and self-employed personal trainer, submitted an online application for jobless benefits on March 23. It’s been “pending” ever since and has yet to be processed by the state’s...

The coronavirus pandemic is causing nearly 9 in 10 Americans to feel anxious about money, according to a new survey from the National Endowment for Financial Education.

The IRS and the U.S. Treasury on Friday launched a new IRS website where people who aren’t required to file taxes can go to enter payment information to receive their stimulus relief check. The portal is available for U.S. citizens and resident aliens who have a valid social security number, can’t be claimed as  dependent of another taxpayer and who have adjusted...

The high level of jobless claims, paired with the market volatility, has many Americans worried about the fate of their retirement savings.

The IRS is preparing to send most Americans one-time stimulus relief checks in response to the coronavirus pandemic. But the bill excludes many financially vulnerable groups from receiving checks. Individuals earning up to $75,000 will receive a check for $1,200, while couples earning up to $150,000 will get $2,400. Additionally, parents will receive $500 for each child under 17. That leaves out…

Everyone is wondering how much they will get from the federal government when the $2 trillion coronavirus stimulus bill is complete. Here’s a basic guideline of what you can expect using items we found while stuck home with our kids.

The recent market volatility may have you wondering just what to do with your retirement account.

Senate leaders and the White House have reached an agreement on a sweeping $2 trillion measure to aid workers, businesses and a health care system strained by the rapidly spreading coronavirus outbreak.

A lot of people already carry some debt financially, and if you are out of work during this pandemic, you just want to be careful not to dig a hole you can’t get out of. So, if you need cash right now, check with your landlord or your mortgage lender.  Many of them are offering to allow you to...

You’ll now have an extra 90 days, until July 15, to file and pay your federal income taxes. You are still allowed to file for an extension until October 15, just as you can during any other year. To do that, you have to file the extension form by April 15. The changes have rolled out over the course of the...

Americans of all ages are facing financial stress from the coronavirus, which already has caused a stock market crash, lost wages and mounting layoffs. Whether you are retired or near retirement, a freelancer with complicated taxes, or a college student sent home from school, here are answers from CNBC’s Sharon Epperson to some of the critical questions to stay financially...

With the coronavirus pandemic causing many workers to lose hours, it’s more important than ever to know what financial options you have. While it’s well and good for financial advisors to tell you not to check your investments in a volatile market, that may not even be a worry for many Americans, when almost 80% of workers live paycheck to paycheck and many households say...

In a rare move, the Federal Reserve announced an emergency rate cut of 50 basis points in response to the growing threat from the coronavirus outbreak. It’s the first time the Fed has cut rates by half a percentage point since late 2008.  “The fundamentals of the U.S. economy remain strong,” Fed Chairman Jerome Powell said in a meeting with reporters. However, “the spread...

Couples who live together without getting married don’t enjoy the same legal protections that married counterparts have, especially if one of you gets really sick or passes away.

As a general rule, the higher your credit score, the better off you are. However, a missed payment or default can quickly drag your score down, sometimes significantly. As many consumers know, your credit score plays a big role in daily life. It can determine the interest rate you’ll pay for credit cards, car loans and mortgages — or whether you’ll...