Speculation is rife about how Chancellor John Healey will attempt to balance the books in his first Autumn Budget.

Healey will deliver the Budget on 28 October and with Labour pledging not to raise income tax, VAT or national insurance and to keep the triple lock until April 2030, “targeted measures” on wealth, investments, pensions and property are “the most likely revenue-raising options”, said Rathbones.

The Treasury is facing pressures of “rocketing government borrowing”, said The Sun, driving fears of “painful tax hikes”.

1. Don’t act too early

Nothing has been confirmed, but there are rumours of changes to capital gains tax rates and pensions tax.

The “general consensus”, said Saga, is that it is unwise to make decisions based on “Budget rumour and speculation”.

It is worth reviewing transactions that are “already in the pipeline” and reassessing your tax position “if changes are ultimately announced in the Budget”.

There is an “annual rumour”, said Trustnet, that the amount that can be taken tax-free from a pension at retirement will be cut. But “acting early has risks” as reinvesting a withdrawn lump sum can breach HMRC’s recycling rules and lead to penalties.

2. Make use of existing tax allowances

We already know that the cash ISA allowance is being reduced to £12,000 for under-65s from April 2027.

ISAs remain one of the “most valuable tax shelters”, said Hargreaves Lansdown, so it is worth making use of the current full £20,000 allowance.

Married couples and civil partners have “additional flexibility” as they can move assets to each other without any tax liability and can “maximise two sets of tax-free allowances” including on capital gains tax exemptions.

3. Boost your pension contributions

A “limited number of taxes” could rise in the Budget, said The i Paper, due to manifesto pledges on income tax, VAT and national insurance, plus Prime Minister Andy Burnham has “ruled out” changes to stamp duty and council tax.

But income tax thresholds remain frozen and the chancellor could even reduce these for additional rate taxpayers. The impact of frozen thresholds could “continue to hit hard”, said FT Adviser.

It is therefore “worth seeing” if higher earners can increase their pension contributions to help “cut their income tax bill”.

4. Focus on what you can control

There is plenty of speculation about what will be announced in the Budget, said Coutts, but while “headlines come and go, your financial goals are likely to be longer term”.

Focusing on objectives is important, and it is also worth reviewing finances to “highlight opportunities that already exist, rather than speculating on changes that may never happen”.

5. Plan for what you know

There are changes announced in the previous Budget that you can prepare for such as the reduced cash ISA allowance from April 2027 and the inclusion of pensions for inheritance tax calculations.

These are changes “we already know about”, said The i Paper, so it is something “that people can plan for”.

If something sounds too good to be true — like 0% interest on a credit card — then it’s smart to ask questions. While a credit card advertising a 0% APR generally does not charge interest on qualifying purchases or balance transfers for a period of time, there is a lot of fine print to read. Here are four key things to know before you apply or start swiping.

1. The no-interest period is only temporary

The 0% interest “only lasts for the duration of the introductory period, and once it ends, the card will revert to its regular APR (the exact rate is determined based on your creditworthiness),” said NerdWallet. Exactly how long this period lasts can vary widely from card to card. Some may offer 0% APR for just 12 months and others for as long as 21 months. Regardless, you will want to know exactly when it ends, because standard credit card APRs are usually well into the double digits.

2. The 0% APR may not apply across the board

Be aware that a 0% APR may not apply to everything, since a single credit card can have multiple APRs. While “just about every 0% APR offer is for new purchases made with the card,” known as the purchase APR, only “some of these introductory offers also feature 0% on balance transfers, but not all do,” said NerdWallet. Further, even if the offer is for both types of APRs, the length of the promotional period may not be the same for each of them.

3. You could lose the rate if you do not abide by the rules

When you “miss a payment or make a late payment on a 0% APR credit card, the terms of the offer likely stipulate that the issuer could nullify your promotional offer,” said Bankrate. “This also happens if you don’t make at least your minimum payment each billing cycle.” In some cases, these missteps may result in the penalty APR applying, which is significantly higher than the regular purchase or balance transfer APR.

4. You will owe interest if any balance remains after the promo period

If you are not able to pay off your full balance before the promotional period ends, you could see your credit card balance balloon. This is where it becomes particularly important to pay attention to the fine print. While a standard 0% deal “charges interest only on whatever remaining balance exists after the promotional period ends,” it is also possible to instead end up with a deferred interest offer, which works differently, said The Washington Post. For that, “if you can’t pay by the deadline, you get hit with backdated interest, which can amount to hundreds or thousands of dollars.”

Looking to invest beyond your 401(k)? Opening a brokerage account could make sense. These accounts allow you to buy and sell a variety of investments, from stocks and bonds to ETFs, mutual funds and even cryptocurrency. And unlike retirement plans, they do not have limits on contributions or withdrawals.

You may find, however, that there are also seemingly unlimited options when it comes to brokerage accounts to choose from. Here are the key criteria to consider on your quest to finding an account that supports your investing goals, whether it be learning about stocks or building wealth (or both).

Investment and trading options

“Not all brokerage accounts offer the same menu of investments,” so “knowing what you want to invest in will help you narrow down your choices,” said The Motley Fool. Some may focus their offerings on more hands-off investment options, like mutual funds, while other brokerage accounts are tailored for investors participating in more advanced strategies, like futures trading, in which case execution quality may matter more. Do not overlook the platform itself, either — you want to make sure it feels navigable and in alignment with your intended uses.

Commissions and fees

Cost is an important consideration when choosing a brokerage, as there can be some variance when it comes to trading and management fees. But do not automatically assume the least expensive option is right for you. Discount brokerages “charge significantly lower fees than their full-service counterparts but also offer fewer services,” and they will require you to make your own investment decisions, said Investopedia. Some investors may prefer the guidance of a full-service brokerage, despite the added cost.

Tools, research and educational resources

Especially “if you’re new to investing, it may be best to look for a brokerage that offers free educational resources, such as live webinars, thorough how-to guides, video tutorials, glossaries and more,” said NerdWallet. Investors pursuing more complex, advanced strategies, on the other hand, may be looking for in-depth market analysis and monitoring and analysis tools.

Customer service

“Ask your broker what the firm does to support its customers. Does the firm return calls promptly? Does it offer explanations when something goes wrong?” said U.S. News & World Report. When your money is on the line, you want to know. Also consider what your preferred format of communication is, whether that be live chat or a phone line, and if a particular brokerage offers that.

User experience and reputation

If you have found a few potential accounts that seem to meet your needs, digging into a brokerage’s reputation and general user satisfaction can be a deciding factor. What types of investors are typically using the platform? Are there any widespread, notable complaints? You will also have the choice between newer names and longstanding institutions. While not having years under their belt “doesn’t mean these newcomers are untrustworthy,” keep in mind “it does mean they may be unproven during a variety of stock market scenarios,” said NerdWallet.

Home warranties may feel like a catch-22: They can offer some financial protection in case something big breaks in your house — think a major appliance or your heating and cooling system — but they also add an extra cost to your monthly budget. And they do not always cover everything.

The good news: If you are weighing a home warranty, there are some clear considerations that can make the whole decision feel a bit less like guesswork. Here is what to know.

What do home warranties cover?

In short, a home warranty “covers appliance and system repairs related to wear and tear from everyday use,” said NerdWallet. This can include large appliances like your washer and dryer, refrigerator, dishwasher and garbage disposal, or systems such as plumbing, heating, A/C and the electrical system.

What a home warranty will not cover is “your home’s structure, foundation, walls or workmanship,” said RocketMortgage. It also will not cover systems and appliances under certain conditions, such as if the item was not “specifically listed in the contract,” or if the breakdown is due to a “problem that predates the contract” or “from anything other than regular wear and tear.” Same goes for if the item was “modified or installed incorrectly” or “you made the problem worse by trying to fix it yourself.”

When is a home warranty worthwhile?

On a “strictly financial level, home warranties have the potential to pay for themselves if covered items malfunction and need repairs or replacements cost more than what the customer pays for the plan premium and service fee,” said Forbes. But because you cannot predict what unexpected home repairs may arise, or when those issues may occur, home warranties are “generally best for homeowners who have appliances and systems reaching the end of their lifespans,” said Forbes.

Same goes for if you recently bought a home and are not totally sure of the status of various systems or appliances. In these scenarios, having a home warranty can make your future repair bills a little less unpredictable.

Just bear in mind that “there could also be a preexisting condition — even if it wasn’t evident to you when you bought the home warranty — that allows the provider to deny coverage,” said Consumer Reports. This is another gamble of these warranties. There is also a risk if anything is too old, as “many home warranties pay less to repair or replace older items through a process known as depreciation,” said NerdWallet.

When should you skip a home warranty?

A home warranty generally will not be worthwhile if you already have protection in place. For instance, “new-home appliances may already be covered,” and “even if your appliances aren’t new, they may still be under warranty if you made the purchase with a credit card” since some cards “extend warranty length,” said Consumer Reports.

It is also worth noting that when you request a repair under a home warranty, you may only be able to work with a technician in their network, rather than your preferred repair person. In some cases, “you might have to wait longer for appointments than if you’d hired a repair company on your own,” said NerdWallet.

Finally, there is the ultimate risk: “You may pay for it for years without actually using it,” said Forbes. Or you might pay for it, only for the repairs you end up needing not to be covered.

Establishing an emergency fund is likely something you know you should do. Setting aside the funds to make it happen, however, can be another story, especially with the ever-rising costs of living and other savings priorities.

But if you ever find yourself in a pinch — whether it be from a surprise medical bill or a pricey but nonnegotiable car repair — you will be very glad to have an emergency fund stashed away. You may otherwise find yourself taking on debt to cover the cost, which will just add another worry to your financial plate. Here are three tips to help you start building.

1. Figure out your target number

Savings goals are often easier to meet the more concrete they are. If you just have a vague idea in mind, like saving enough money to cover a potential job loss, it can be trickier to accomplish because there is no clear end goal.

While you may hear some experts “recommend you save three to six months’ worth of expenses for emergencies,” in truth, the “amount you need for emergency savings can vary based on your own financial situation,” said Bankrate. You’ll want to consider “how stable your income is, your level of risk tolerance and whether you have children or other dependents,” all of which will influence what an appropriate buffer is for you. Generally, though, you want to define your typical monthly costs (making a budget is a good way to figure this out), then aim to be able to cover those from your emergency fund at least a few times over.

2. Have a plan for how you will fund it

Just as important as knowing how much you need to save is figuring out how you will achieve that balance. But “instead of focusing on one large savings goal, focus on smaller, attainable monthly goals,” as “this can help you keep the habit of saving regularly and make the overall task less daunting,” said NerdWallet. Maybe you aim to set aside a certain amount each month, such as $50 from every paycheck. Automating that amount to move from checking to savings each time your paycheck hits can make it that much easier to do consistently and regularly.

Do not overlook the impact of any financial windfalls, either. Even just putting a portion of your tax refund or annual bonus into your emergency fund can give it a good boost.

3. Be strategic about where you keep your money

Where you keep your emergency fund parked and waiting can make a difference in how quickly it grows. But “while investing your money can bring higher returns, it can also come with losses, especially if you have to sell quickly in the event of an emergency,” said Experian. Instead, keep your emergency fund in a liquid account — meaning one that is easily accessible when you need it — but that still earns some interest. A high-yield savings account is often an ideal candidate, as you will earn interest above the low rates that standard savings accounts offer but still be able to easily access your money in case of, well, an emergency.

Increasing numbers of workers are opting out of their workplace pensions to save money, but there are risks to be aware of.

All employees are automatically enrolled into workplace pension schemes if they are over the age of 22. But a “growing number” of Gen Z and millennials are choosing to opt out, “due to cost-of-living pressures”, said BBC News.

However, the over-60s are “consistently the highest rate of any age group” opting out, said Fidelity International, but this “may not be the right decision and could cost them dearly”.

Why people are opting out of workplace pensions

Saving for retirement is, of course, sensible but with a “cost-of-living crunch and compressed real wage growth ”younger workers are “prioritising having money in their pockets now”, said Investors’ Chronicle.

Some over-60s may also feel they have enough for retirement or have a health issue that reduces life expectancy, said Fidelity, so their priorities “may understandably change”.

How to opt out of your pension scheme

If you wish to opt out of your pension scheme, your employer will tell you the scheme you are enrolled in. To leave, you will need to contact the provider directly.

Businesses “must not actively encourage their staff to opt out”, said the Pensions Regulator, so it must be your own decision.

You can opt out within a month of being added to your employer’s scheme, and you will get back any contributions. Once you have been enrolled for a month, any contributions will usually stay in your pension fund until you retire.

Other options include reducing the level of your contributions, although there is a minimum of 5% of pay for employees and 3% for employers.

The benefits of opting out

The “main benefit” of opting out, said Legal & General, is getting your hands on extra cash. This can be useful if you have “new financial commitments, or changed your spending priorities”.

But while it can seem an “easy way” to pocket more money each month, said TPT Retirement Solutions, it can have a “surprisingly large impact” on the plans you have for your golden years.

The drawbacks of opting out

Opting out of a workplace pension is like giving up “free money”, said Armstrong Watson, as you lose employer contributions and government tax relief.

It is easy to underestimate the impact of “even a few years of missing pension contributions” though, said The Times, especially when you are young.

Your retirement is more likely to be comfortable “if you can save over the longest time possible”, said MoneyHelper.

You will miss out on potential investment growth if you opt out from your pension, which can slow down your savings, said Legal & General, which means “you might end up having to fill the gap by working for longer, later on in life”.

Opting out isn’t a “one-time decision” though, said LV, and you can usually rejoin your company’s workplace scheme. But this can be a “lengthy process” so you will miss out on any benefits and investment growth in the meantime.

When mortgage rates are high, many buyers are less inclined to make a home purchase. This can end up being bad news for sellers.

Conventional wisdom has called for staying put until rates cool off. But with “mortgage rates on the cusp of topping 7% for the fifth year in a row, it might be time to stop waiting for lower rates to put your home on the market,” said The Wall Street Journal. It may also be a good time to get more strategic.

How do high mortgage rates affect home sales?

Higher mortgage rates squeeze the budgets of buyers. Because “rising mortgage rates reduce purchasing power even when home prices change little,” prospective buyers may “lower their target price or postpone a purchase,” said U.S. Bank. Buyers are also likely to be more cautious and critical about making an offer. When rates are high, they are “quick to walk away from homes that are overpriced or in poor condition,” said the Journal.

For sellers, this means they may not sell their home for as much as they want or get it done as quickly as they want. While there are exceptions, “most sellers can no longer count on a swift sale,” said the Journal. They may also be forced to make concessions and address issues they may have otherwise avoided in a seller’s market.

What can you do to sell when mortgage rates are high?

When buyers are price-sensitive, “pricing your home correctly from the start is one of the most important things you can do,” said Homie, a real estate technology company. “Overpricing can scare buyers away, while smart pricing can lead to more offers — and even a bidding war.”

If you do get an offer, it’s worth being a little flexible. Although “five years ago, sellers could say no to repairs and rely on a backup offer,” today, it “might pay to provide a reasonable credit or fix the problem,” said Chris Wands, a Douglas Elliman real estate agent, to the Journal. It could additionally help to offer concessions, like paying closing costs, in order to make the sale.

Last but not least, it is vital that your home is in tip-top shape when you begin showing it. “Standing out from the competition is particularly important when interest rates are high because buyer traffic will be lower,” said REMAX.

Is it worth staying put instead of selling?

“When you look at the actual numbers, the high mortgage rates seller’s dilemma makes sense,” said REMAX. Still, “homeowners waiting to sell their homes due to high interest rates need to think about the whole picture.” Consider what the trade-offs are of postponing a move you want to make, and factor in the possibility that home prices themselves could go up while you are waiting for mortgage rates to fall.

It’s worth pointing out that staying where you are and selling are not necessarily the only two options on the table. As a third path, “owners holding ultralow fixed-rate mortgages can take advantage of the strong rental demand,” said Ben Dixon, another Douglas Elliman agent, to the Journal. “High rents might cover carrying costs, generate cash flow and allow the owner to hold on to their low-cost debt until the market takes a turn for the better.”

The Free Application for Federal Student Aid, aka FAFSA, is the key to securing federal-, state- or school-based financial aid, from student loans to grants and work study funding. But when you are in the thick of admissions essays and applications, or just another semester’s worth of schoolwork, filling out a stack of paperwork may feel like the last thing you want to do.

The good news: This year the FAFSA may be a little bit less of a headache. “We’ve simplified it,” said Department of Education Under Secretary for Higher Education Nicholas Kent to ABC News. “Instead of it taking hours or even days to fill out, it takes 15 minutes on average.” Plus, applicants will have more time to get it done, thanks to the form for the 2027-2028 school year launching “earlier than ever before.” To make the process even easier, here is what to know ahead of time.

What information does the FAFSA request?

The first section of the FAFSA collects basic personal information such as your name, date of birth, contact information and Social Security number. You will also be asked to answer questions about your personal circumstances, which will determine whether you qualify as a dependent or independent student for financial aid purposes. Demographic questions, like your race and ethnicity, also appear in the form, though these are “used for research purposes only and not factored into your aid eligibility,” said SoFi.

The next — and likely more time-consuming — section collects information about your financial situation. You will need to report your federal tax information and details on any financial assets you own, as well as child support or federal benefits you receive. You will also be asked to list any colleges or career schools you are applying to.

If you’re a dependent student, the FAFSA will also request information about your parents and their finances. Students who are married will need to provide details about their spouse.

Which documents will you need to complete FAFSA?

When filling out the FAFSA, you will generally need the following:

• Social Security or Alien Registration number
• Most recent tax return
• Records of income, such as W-2s
• Balances of cash, checking and savings accounts
• Investment information
• Details on net worth of businesses or farms, if applicable
• Records of child support payments, if relevant

To access the form, you will also need to have a StudentAid.gov profile. Setting one up requires your name, date of birth, email address and Social Security number.

When should you aim to submit your FAFSA?

Ideally, as soon as you can. “For the best chance at receiving available financial aid, submit your FAFSA as soon as possible after the application becomes available,” said Sallie, a student loan resource and lender. “Filing early gives colleges more time to prepare your financial aid offer and may improve your chances of receiving aid that has limited funding.”

Technically, though, the 2027-2028 FAFSA deadline is 11:59 p.m. Central Time (CT) on June 30, 2028.

It has maybe gotten a little too easy to make a purchase. From saved credit card information to click-to-buy, you can move from contemplating a purchase to following through on it within mere seconds.

But what if you weren’t able to move quite so fast and instead, had to pause for a beat before completing a buy? This is exactly the premise of the 30-day savings rule, which stipulates a mandatory waiting period for unplanned purchases as a way to curb impulse buys.

What is the 30-day savings rule?

When it comes to the 30-day savings rule, the “idea is simple: When you get the urge to buy something, wait at least 30 days before deciding whether to make the purchase,” said U.S. News & World Report. This rule applies specifically to non-essential items, meaning those things you by no means need to survive but that can nonetheless make a dent in your budget.

Once that 30-day waiting period has passed, you can reconsider the purchase you were tempted to make. It’s possible you will decide you still want to make it, but at least then, you’ll be doing it with more intention — and perhaps some financial preparation.

There’s even a good chance you will find that you can’t remember why you wanted to buy the item in the first place. You can also use that pause before purchasing to “comparison shop, dig for coupons or wait for the item to go on sale,” said Yahoo Finance, all of which can contribute to sounder financial decisions.

How can the 30-day rule limit overspending?

This practice isn't “necessarily going to stop you from spending money completely,” said Yahoo Finance. But it will “force you to slow down, be more mindful about your purchases and prevent you from buying items that you don’t really need or want.”

When you repeat these types of purchases throughout the month, they can end up having a real impact on your overall budget. So even just culling a few such impulse buys may make it possible to put a bit more toward savings, debt payoff or a more meaningful long-term financial goal.

How can you implement the 30-day savings rule?

The most important step is to pause and consider. “If you feel the urge to make a significant purchase of something that’s non-essential, whether it’s in a store or online, the rule says: Stop. Leave the store, or click away from the site,” said SoFi.

Next, take a moment to note down the item you were tempted to buy, along with relevant information like where it’s being sold and how much it costs. You can come back to that note in 30 days.

Just don’t stop thinking about the purchase then and there. “In the meantime, ask yourself a few key questions,” such as: “How would this purchase impact my budget and savings goals?,” “how many hours would I have to work to pay for this item?” and finally, “are there more affordable alternatives?,” said Yahoo Finance. The answers may be illuminating.

The government has unveiled a new housing support scheme to boost the property market.

Your First Home aims to “combat malaise” among housebuilders, said The Times, and “get young people on the housing ladder”.

Similar to later versions of the popular but now defunct Help to Buy scheme, it will only be available to first-time buyers.

But the “devil will be in the detail” that is coming in next month’s Budget, said Property Week, especially to “avoid claims of unfairness” for those who have already put money aside in the government’s Lifetime Isa.

What does Your First Home involve?

Under the Your First Home scheme first-time buyers will be able to purchase a new-build property with a 2.5% deposit backed by a 20% government equity loan, which could “save hundreds of pounds per month compared to a 95% mortgage”, said the Ministry of Housing, Communities and Local Government.

The deposit “eliminates one of the biggest challenges facing would-be homeowners”, said The Guardian, as many first-time buyers can find it hard to save while also covering other costs such as rent, household bills and, in some cases, childcare.

How will it work?

Full details will be revealed in the Budget, but the government has said first-time buyers will be able to purchase a new-build with a low deposit and an equity loan from developers signed up to the scheme.

The government-backed equity loan will be interest-free at the start and with a 2.5% deposit, the upfront costs “should work out considerably cheaper” than a larger loan-to-value mortgage, said The Sun. There will be a local property price cap and a household income cap “to stop wealthier buyers taking advantage of the scheme”.

The terms haven’t been confirmed, but the equity loan will be repayable, “meaning further costs down the line”, said The Independent.

There has been some criticism of the scheme, though. Will Bainbridge, founder of property investment firm Hawthorn Capital, told Money Age it is “irresponsible policymaking dressed up as aspiration”.

He cited the government’s own evaluation of Help to Buy, which estimated that new-build homes attracted a 5.5% premium, with properties purchased through the scheme carrying a further 0.9% over comparable new-builds.

Your First Home vs. Help to Buy

Commentators are describing Your First Home as a revived version of Help to Buy.

Later versions of Help to Buy had “a lot of similarities” to what we know so far about Your First Home, said The Guardian, including an equity loan, new-builds and price caps.

But the “ongoing row” about soaring student loan debts means there will be extra pressure to be “very clear” about how the equity loan interest will work.

Savers can also put up to £4,000 per year in a Lifetime Isa each year to save towards a property deposit, backed by a 25% government bonus.

Any scheme that "penalises those savers”, said Property Week, “would risk widespread criticism”.

To the average investor, the bond markets may seem like a concern better left to Wall Street bigwigs. But what happens in these markets can have major implications not only on the larger economy but also on household budgets.

“Keeping an eye on the nearly $32 trillion market for U.S. government bonds, called the Treasury market, is important because it offers a clear signal of where the economy may be headed,” said The New York Times. It can “affect everything from student loans to the housing market.”

Lately, what is happening with bonds has been setting experts on edge. Here’s a breakdown of what to know to make sense of it all.

How do bond markets work?

Bonds work similarly to loans, wherein someone — in the case of bonds, the government, a company or a municipality — borrows money. When investors purchase a bond, they are effectively funding that loan. They will then earn interest on the loan, known as bond yield, in addition to receiving repayment after a certain period of time.

But “bonds can fluctuate in value,” and typically, “bond prices and yields move in opposite directions from each other,” said NPR. So “if bond prices fall — like they are now — investors demand to be paid more in interest as additional compensation,” whereas “if bond prices are rising, investors are fine getting less in interest since they are holding bonds that are appreciating in value.”

What impact do bond yields have on consumers?

In short: They impact interest rates, which translates to how much people pay to borrow. Mortgages are impacted, given that the “10-year Treasury yield serves as an important guide for mortgage rates as it generally moves in tandem ‌with mortgage-backed securities,” said Yahoo Finance. In addition, “rates on new auto loans and other fixed-rate consumer debt ⁠also tend to drift higher as market rates and lenders’ funding costs rise, though the pass-through is not immediate or exact.”

Do the bond market and the stock market affect each other?

Generally speaking, “bond investors and stock investors tend to see things differently,” said NPR, due to the nature of the investment itself. While “bond investors care, primarily, about whether they’ll get paid back,” stock investors “tend to make a more straight-up bet on corporate profits.” That can explain why as of this month, the stock market is soaring but the bond market is sounding the alarm.

This divergence will likely only hold true to a certain point, however. Ultimately, “yields matter for investors’ assessment of stocks’ value,” and a “sharp rise in yields or intense volatility in the bond market can irk the stock market,” said CNN Business. Further, said NPR, if “signs emerge showing that inflation or rising borrowing costs are starting to tamp down economic growth,” then the stock market could very well start showing signs of concern too.

You’ve undoubtedly heard of borrowing money to buy a house or a car. But Americans are also increasingly borrowing funds to invest, a practice known as margin trading.

As of this month, the “amount of money that investors are borrowing to make trades is at an all-time high — more than $1.5 trillion,” said NPR, which, impressively, is “more than the country’s total credit card debt.” But while it may sound better to invest more, there are some major risks involved, especially when someone else’s money is on the line.

What does it mean to buy on margin?

When you “buy securities on margin,” you are “able to leverage the value of securities you already own to increase the size of your investment,” said Fidelity. This investment strategy increases purchasing power, allowing investors to access opportunities they might not otherwise be able to afford. It can also “potentially magnify your returns, assuming the value of your investment rises.” Ideally, this would snowball into a “self-fulfilling opportunity cycle where increases in collateral value further increase leverage opportunities,” said Investopedia.

How does margin trading work?

To buy on margin, you must have a margin trading account, as opposed to the standard brokerage account. Once your account is open, you will need to make an initial deposit to a broker by putting down eligible securities, which will serve as collateral, backing the amount you borrow (and allowing the broker to seize it, if needed to recoup their losses).

The broker will then float you money to buy more investments, usually “up to 50% of the initial investment capital,” said Kiplinger. So, for example, this may give you the “ability to make a $20,000 investment despite having just $10,000 funded in your account.”

As with any loan, “when an investor buys securities on margin, they must eventually pay back the money borrowed, plus interest,” said Investopedia. This cost, which gets charged to your margin account, can make it that much harder to come out ahead when borrowing funds to invest.

Why is margin trading risky?

Although “making profits with other people’s money is great,” the “problem is when markets go down,” said NPR. And just as margin trading can potentially magnify returns, it does the same for losses. It’s “even possible for a margin trader to lose more money than they originally had to invest — meaning that they would have to make up the difference with additional assets,” said Investopedia.

This demand for more money is what is known as a margin call. And as if that were not already enough pressure, “if you do not act promptly, your brokerage firm may sell securities you own — without notifying you — in order to increase the equity in your account,” said Fidelity.

Owners of high-value homes will be hit with a new mansion tax from April 2028 but there are already fears that it could affect more homeowners than expected.

The High Value Council Tax Surcharge, to give it its official name, was presented by former chancellor Rachel Reeves in her 2025 Autumn Budget as a way to “make the council tax system fairer”, said MoneyWeek.

The Treasury says that under the current system, the average band D charge for a typical family home across England is £2,280. That is £250 more per year than for a £10 million property in Mayfair, based on the band H charge in the City of Westminster. The government says that “this surcharge will change that”. Here is what you need to know.

What is the mansion tax?

The levy targets wealth “tied up in property”, while positioning it as “a tool to support public finances”, said property specialists Benham & Reeves.

Under the proposals, properties worth above £2 million will be placed into bands based on their value. Owners of homes worth between £2 million and £2.5 million will pay £2,500 extra council tax per year, rising to £3,500 for homes worth between £2.5 million and £3.5 million, and it will be £5,000 for homes worth £3.5 million to £5 million. Properties worth more than £5 million will incur a charge of £7,500. Charges will increase in line with the consumer prices index inflation rate each year from 2029-30.

How will homes be valued?

Over the next two years, the Valuation Office, an executive agency of HM Revenue & Customs, will be conducting a “targeted valuation exercise” to identify the properties that will be affected, said MoneyWeek. It will use professional valuers and industry-standard automated valuation models to assess sales data and property attributes such as the size, sale price and age of properties.

Information gaps may “pose a problem”, said Transparency International; the price paid for properties is in many cases “incomplete or missing” and in some cases it may be unclear who owns the property.

Homeowners who disagree with the valuation may face a “long and expensive appeals process”, said north London estate agency Maunder Taylor. The Treasury has also indicated there may be exemptions, such as for individuals who bought or inherited their home but who now have a lower income.

How many people will have to pay it?

The high threshold to be eligible for mansion tax means the “vast majority” of homeowners and buyers “won’t be impacted”, said law firm Setfords. Estimates from the Office for Budget Responsibility suggest around 165,000 households will be impacted under the current scope.

But there have been reports that the tax threshold could be lowered to £1.5 million. This would affect another 160,000 homes, said Tax Policy Associates. Such a “controversial move” would “hammer” swathes of homeowners in the capital, said London’s The Standard. The Telegraph estimates that lowering the threshhold would make one in four homes in the capital eligible for mansion tax.

How will it tax impact the housing market?

Properties in London and the South East of England will “bear most of the brunt” of the mansion tax, said the HomeOwners Alliance. It is “unlikely to have a marked impact” on the overall property market, said financial advisers CMS Wealth, but it could push down prices around the mansion tax thresholds. Those looking to avoid the tax may think about downsizing, although stamp duty costs “may make this option prohibitive”.

If you have the means, the appeal of paying off your mortgage early is obvious: You will finally be done making payments on your home — including that continually accruing interest — and you will own your house free and clear.

By going all in on your mortgage, however, it can also mean you have less money to devote elsewhere. Depending on the specifics of your financial situation, the trade-off might not be as worthwhile as you think.

Weighing the pros and cons of early mortgage payoff can help you decide what actually makes the most sense. Here are three of each.

Pro: Your home loan will be paid off.

A major upside of paying off your mortgage early is the peace of mind it offers. “If you ever face job loss or a sudden medical issue, you won’t have to worry about a looming housing payment or the possibility you could lose your home if you fall behind,” said Rocket Mortgage. Overall, your costs of living will become lower. This added room in your budget can be a major upside if you are living on a fixed income — a common reason retirees consider early mortgage payoff.

Con: You will have less cash on hand, or for other purposes.

If paying off your mortgage requires depleting your cash reserves, you could end up in a tight spot later should a financial emergency arise. It is also important to think twice about focusing on your mortgage if you have other higher-interest debt to pay off. Even if that’s not the case, the opportunity cost is still worth considering. “Investing the money — rather than paying off your mortgage — may give you a higher return, especially in tax-advantaged or tax-free accounts,” said NerdWallet.

Pro: You could save on interest payments.

“No mortgage payment means no interest charges, which could save you hundreds of thousands of dollars over the remainder of the loan,” said Experian. Your exact savings will depend on factors like the size of your mortgage and how high your mortgage interest rate is. Timing also matters, due to the fact that early mortgage payments go more toward paying down interest than principal. As a result, the “earlier in the repayment term you pay it off — or pay more toward it — the more you’ll save.”

Con: You will lose the mortgage interest deduction.

Having a mortgage does grant you some benefits, namely the mortgage interest tax deduction. If you pay it off, you can no longer deduct your mortgage interest from your taxes. Depending on your situation, losing this tax deduction could increase your taxable income, raising your tax bill and even pushing you into a higher tax bracket.

Pro: You will build equity in your home faster.

By accelerating your mortgage repayment, you also build home equity more quickly. This is the percentage of your home you own versus the amount you still owe on your mortgage, and it can come in handy should you ever need to borrow money down the road. Options like home equity loans and HELOCs tend to have lower interest rates.

Con: You could face prepayment penalties.

While not especially common, some lenders do charge a fee if you pay off your loan ahead of schedule, particularly within the first few years. “Fees can run up to 3% of your outstanding principal loan balance,” said Experian, which may eat into your savings. It is worth checking your loan documents beforehand to see whether or not your lender charges this fee.

Without solid credit, becoming a homeowner may be that much more challenging. While credit score is not the only thing that lenders weigh when evaluating mortgage applications, it is a major factor in determining whether or not you get approved for a mortgage and what your interest rate will be.

Lately, it seems credit requirements are getting harder to meet. The “average credit score of people who successfully obtained a mortgage” has “skyrocketed starting in 2007 and continued to climb in recent years, hitting a high of 742 in 2024 — 29 points above the average credit score in the U.S.” said The Washington Post. Meanwhile, the “share of mortgages going to people with credit scores in the 600s has plummeted.”

What credit score do you need to buy a house?

To buy a house, “most mortgages (including the popular conventional loan) need a credit score of at least 620,” said NerdWallet. Credit requirements can, of course, vary from lender to lender and depending on the specific loan.

Having a score that’s lower than the typical minimum does not automatically mean you are out of the running for a home loan. Certain loan programs work with borrowers with lower scores. For instance, FHA loans insured by the Federal Housing Authority require a minimum credit score of just 500 if you can make a down payment of at least 10%.

In general, the higher your credit score, the better your odds of approval — and of landing a lower mortgage rate. Lenders tend to look more favorably upon more creditworthy borrowers, especially with a loan as sizable as a mortgage.

What other factors do mortgage lenders weigh?

Alongside credit history, “lenders will also consider your income, employment history and debt, along with the amount of the mortgage you’re requesting and your down payment,” said U.S. Bank.

Lenders are essentially attempting to verify, to the extent it is possible, that you are likely to make good on your loan payments. That is why, for example, “if you've been in the same salaried position or industry for a long time, you may have better odds of getting good terms than someone with a spotty job history or who is self-employed with irregular income,” said Experian.

What if your credit score is not high enough to get a mortgage?

Taking steps to improve your credit score makes sense prior to applying for a mortgage. Not only will it increase your odds of approval, but it can also help you land a lower interest rate. Some simple ways to do this include improving your credit utilization ratio, either by paying down existing debt or increasing available credit, and reviewing your credit report for any mistakes. Avoid applying for any new accounts in the interim, and don’t underestimate the impact of making on-time payments.

Beyond improving your credit, you can also shop around with different lenders. “One lender might be more accepting of your situation and offer a better rate,” said Fidelity. Just “be prepared to discuss your financials and explain why you’d be a good borrower, even with a lower credit score.”

Pension plans were starting to seem like a thing of the past. But a recent resurgence suggests this retirement benefit may be staging a comeback.

As companies work to “settle negotiations with labor unions or win over employees in fields where recruiting and retaining workers is especially competitive,” a “small but growing number” of them have begun to either reopen their pension plans or start them, said The Wall Street Journal. However, these pensions may look a little different than those of the past, as “many newer plans instead give workers market-linked returns, similar to a 401(k),” which in turn “shifts most of the investment risk to employees.” Here is what to know.

What is a pension plan?

It’s an employer-sponsored retirement savings account wherein “employers make regular contributions to a pool of money set aside to fund payments to eligible employees after they retire,” said Investopedia. Employees may also be required to make additional contributions to the plan.

Payouts in retirement depend on the type of pension plan. With a defined-benefit plan, the type of pension that used to be more common, the employer “guarantees that the employee receives a specific monthly payment after retiring and for life, regardless of the performance of the underlying investment pool,” said Investopedia. Meanwhile, with the increasingly offered defined-contribution plan, the “final benefit to the employee depends on the investment performance of the plan” and the company’s “liability ends when the total contributions are expended.”

How is a pension different from a 401(k)?

A 401(k) is another type of defined-contribution plan, but it has some meaningful differences from a pension. For one, the “employer provides the bulk of funding for a pension plan, while 401(k) plans are primarily funded by the employee,” said SoFi. This also grants the employer greater control, particularly as a “defined benefit plan generally pools money in the company’s pension fund,” as opposed to an investment account in your name, said SmartAsset.

There is also no option to bring a pension with you if you change jobs, as you can with a 401(k) rollover. Rather, “when an employee leaves a company in which they have a vested pension benefit, the employee must keep track of their pension benefit after their departure,” said Investopedia.

What are the benefits and risks of pensions?

The benefits and risks of pensions can vary widely depending on the specific plan. For instance, if the pension is a defined-benefit plan, the employee can largely count on receiving a certain amount at retirement — though “in the case of public pensions, there’s also the risk that the state or municipality will encounter economic issues and declare bankruptcy, which could result in a reduction of benefits for pension plan participants,” said SmartAsset.

With a defined-contribution plan, payout in retirement will largely depend on investment performance, similar to a 401(k). But “unlike with a 401(k) plan or IRA, you have no say in how your company invests the money in your pension fund,” which means that “if the manager of the fund makes bad investment decisions, that could result in insufficient funds for the overall pension,” said SmartAsset.

As another benefit, “both pension plans allow the worker to defer tax on the retirement plan’s earnings until withdrawals begin,” which “allows the employee to reinvest dividend income, interest income and capital gains — all of which compound and can generate a much higher rate of return,” said Investopedia.

The transition from college to the “real world” is never easy. But when you add inflation, a tough labor market and the ubiquity of AI, the transition can feel especially tricky.

When the going is tough, the best bet is often to fall back on financial basics. While the larger economic environment may be out of your control, you can at least make sure your financial situation is starting off on the right track. Use these four tips as guidance after graduation.

1. Do not underestimate the importance of a budget

“When it comes to money, it’s best not to wing it,” said Investopedia. To formulate a plan, begin by getting a handle on the full details of your current situation, accounting for what income, savings and debt you have. Then, assign every dollar that hits your bank account a job, whether that is covering bills or rent, bolstering your emergency fund or paying off student loans.

Once you have made your budget, you’ll come to the hard part: sticking to it. It may sound dull, but the reality is that “staying on budget as a recent college graduate — or even better, under budget — can ensure your financial goals stay achievable,” said Navy Federal Credit Union.

2. Be open to opportunities to cut costs

Experts say “young workers need to prepare for financial uncertainties and job market challenges by staying frugal and saving what they can,” said Investopedia. This may look like relying on public transportation instead of getting a car or moving to a less trendy but more affordable neighborhood.

Another major way that many young professionals are cutting costs is by moving back home. But make sure you do not end up spending more in other areas just because mom and dad are footing the rent. “Recent grads need to use the money they save when moving back home to set them up for a stable financial future,” said Bruce Maginn, a partner at Solomon Financial, to Investopedia.

3. Start to get a handle on debt sooner than later

Although technically most student loans have a six-month grace period, that does not mean recent graduates need to wait to start paying. “If you can start making payments earlier, you’ll save on interest and establish the habit,” said NerdWallet.

There are situations where student loan debt may not be your primary concern, like if you have other high-interest debt, such as credit card debt. In that case, “put as much as possible toward the higher-interest debt first, while continuing to make minimum payments on other debt,” said Navy Federal Credit Union. “This will save you money and allow you to pay off higher-interest debt quicker, giving you more money to put toward student loan debt repayment.”

4. Use credit, but be smart about it

When finances are tight, pulling out a credit card may seem irresponsible. But using your credit wisely is one of the best things you can do to set yourself up financially. Good credit helps with everything from qualifying for better borrowing opportunities at lower rates when you need them to influencing whether or not you land an apartment when you are ready to strike out on your own.

One of the easiest ways to build your credit is to make payments on time and in full, each and every time. And if you do not yet have a credit card, student loan payments count, too.

Knowing you need to save enough for retirement and actually doing it are two different things. Today’s economy has left younger generations struggling to determine how to navigate a financially tricky present while also setting something aside for the future. Along the way, many are hoping to catch a break, and maybe even enjoy themselves a little.

This conundrum has led to the rise of Coast FI (short for Coast Financial Independence). The aim of this financial planning approach is to set aside enough for retirement that, assuming reliable investment growth, people will have some room in the future to just “coast,” so to speak.

What is Coast FI?

This retirement savings strategy is a subset of the FIRE movement, which stands for Financial Independence, Retire Early. But instead of the goal being early retirement, the Coast FI philosophy aims for just the former: achieving financial independence.

Without the focus on retiring as soon as possible, Coast FI “encourages a focus on a different question,” said Kiplinger. “How much would you need to have invested, such that if you didn’t touch your nest egg, it would grow to support your future retirement spending needs?”

Coast effectively refers to the point at which you have saved enough that you can breathe a sigh of relief. In other words, “Coast FI is when you have enough in investments to fund your full retirement without any more contributions,” with the idea being that “reaching Coast FI early frees you up to, say, take a lower paying job, take time off from work or try to start a business,” said The Wall Street Journal.

What is the appeal of Coast FI?

For many, the promise of freedom and flexibility. While it requires saving aggressively for retirement until you hit your target number, there is then the chance to pump the brakes. That could “free up money to travel or invest for other goals, like a down payment,” said NerdWallet. You may alternatively decide to leverage that freedom to “shift to more fulfilling, perhaps even part-time, work instead.”

Given its recent rise in popularity, having these options on the table is likely reassuring. “Younger Americans worry about how new technology like artificial intelligence will affect their careers and ponder the uncertain future of Social Security,” said the Journal.

Are there any risks to the Coast FI approach?

Despite its allure, it is important not to let Coast FI lull you into a false sense of security. “The core principle hinges on the market performing how you expect it to,” said NerdWallet, and there are, of course, no guarantees when it comes to investing. “If the market tanks in the first few years after you stop contributing, it could greatly reduce how much you have in retirement years,” said the Journal.

Estimating “how much you’ll spend in retirement and your withdrawal rate (factors that go into calculating your Coast FIRE number) can also be hard to figure if you’re decades away from retirement,” said the Journal. This raises the risk of miscalculations, depending on what kind of twists and turns your life takes.

It seems like you can place a bet on the outcome of just about anything these days: a football game, a midterm election, the Grammys, even the likelihood of an impending natural disaster. The rise of prediction markets like Kalshi and Polymarket has made it not only possible but easy to take a stab at making money based on correctly predicting the outcome of a future event.

Before you give it a try, though, it’s worth understanding how exactly prediction markets work. It is not the same as online betting, and it’s important to know the risks involved, including shifting regulations.

How do prediction markets work?

Prediction markets “run on a type of financial instrument known as an event contract,” said NerdWallet. These contracts have a “nominal value — often $1 — and traders can buy ‘yes’ or ‘no’ positions on it for some fraction of that value.” Once the event occurs, the contract pays out to those with the position that ended up being correct.

The positions people can buy into are wide-ranging. Examples have included “when Prime Minister Keir Starmer of Britain will leave office, how many social media messages Elon Musk will send next month or how hot it will be in Paris on a given day,” said The New York Times. If someone were to, say, correctly bet Starmer would leave office by the end of the year, buying a 20-cent ‘yes’ position, they would have made 80 cents, minus any fees the platform may charge. But if they had bet he would not, they would lose the money they had put down.

What are the risks of prediction markets?

One risk is that not everyone will be entering on equal footing. Some people may have greater knowledge than others, whether due to expertise in that area or, in some cases, potential insider trading. “Several high-profile instances occurred this past year, including an Army soldier charged with using classified information to place bets regarding the capture of Venezuelan President Nicolás Maduro,” said Kiplinger.

Similar to betting, prediction platforms can also encourage the gamification of money, potentially leading to overspending and frequent losses. “Most people don’t come out ahead,” and “more than 100,000 accounts have lost at least $1,000 on Polymarket, but only half as many have won that much,” said Kiplinger, citing a Bloomberg analysis.

While prediction markets may seem akin to investment products in some ways, they do not offer the same potential for long-term growth that investing does. “You’re going to end up with a lot more money over the course of 10 or 20 years in the market, with consistent investing, than you would with the win-some-lose-some approach of betting on sports on a weekly or monthly basis,” said Chris Woods, a certified financial planner, to NerdWallet.

Are prediction markets regulated?

Regulations are another potentially murky area for prediction markets. While currently overseen at the federal level by the Commodity Futures Trading Commission, certain “states view outcome-based markets, much like sports betting or gambling, as subject to state oversight,” said Forbes, which has led to lawsuits and uncertainty. Due to the “evolving” nature of prediction markets, “market rules, permitted contract types and regulations can change over time and may vary by jurisdiction,” said Fidelity.

From lower bills to better weather, many people are looking beyond the UK and choosing to retire abroad, but there are risks to look out for.

The number of Britons looking to retire abroad is “rapidly growing”, said Sky News, but there are hurdles before they can fulfil their dream of a life “in the sun”, especially since Brexit.

Due to a range of factors there is a “massive gap”, said Aegon, between the life people imagine in retirement and where they eventually choose to live.

Why are people retiring abroad?

An estimated 200,000 to 250,000 British retirees currently live overseas, said PensionBee, with many possibly swayed by “warmer weather, a change of lifestyle or a more affordable way of living”.

In some cases, older people are looking further afield in places such as Thailand for care homes, due to “higher standards and lower costs”, said The Times.

Popular places to retire to

France, Spain and Australia have historically been “prime candidates” for expat Brits to retire to, said Hoxton Wealth, but a “new roster of destinations” is becoming more popular due to cost of living rises, visa rule changes post-Brexit and changing tax landscapes.

Cyprus is popular among retirees, said MoneyWeek, due to the lack of inheritance or wealth taxes in place, “as well as its climate and outdoor lifestyle”, plus English is widely spoken across the country. The Republic of Ireland is also popular as “under the Common Travel Area (CTA), UK citizens have the right to live, work and retire” there without the need for a visa and there’s no formal application process for residency, “unlike a host of other EU countries post-Brexit”.

Malta and Portugal also rank high among retirees, added the financial website, thanks to their proximity to the UK as well as “balmy climates, access to healthcare and low crime levels.”

What to consider when retiring abroad

One of the biggest factors to consider when retiring abroad is your state pension.

Expats are denied the “triple lock uplift” on state pensions, said The Telegraph, if they live in around 100 countries including much of the European Union, Canada, Australia and New Zealand.

This means state pension payments are frozen at the rate first received and the financial impact can be “increasingly severe”, said Rathbones, meaning people miss out on around £77,000 over 20 years.

Depending on where you take money from, you need to consider “inevitable fluctuations” in exchange rates, said Experts for Expats, as you need to be sure your income will continue to support you, even if your disposable income drops. The “default position”, may be to sell your home and move abroad, but consider whether you may decide to return to the UK and how hard and expensive it may be to get back onto the property ladder.

It is worth testing out an area first either by renting or just having a holiday, said Aegon, and working out what stage of retirement it is best for. This way you can find out what daily life actually feels like “before you redesign it entirely”.

A key question when budgeting is how much of your income you should be stashing away in savings. But when you start to get into the numbers, it’s not uncommon to find there is a gap between how much it is recommended you save and how much you can actually save after all of your expenses.

This reality, intensified by persistent inflation, is why the 60/30/10 budgeting method has been rising in popularity. The ratios offer a little more room for expenses by putting a little less toward savings than the longstanding gold standard, the 50/30/20 budget.

What is the 60/30/10 budgeting method?

The 60/30/10 budgeting method breaks down your monthly income into three categories: 60% of your income will go toward essential expenses (think housing, food and transportation), 30% will go toward discretionary expenses (like going out to eat and streaming services) and the remaining 10% goes into savings or toward paying down high-interest debt.

This budgeting framework differs from the go-to 50/30/20 budget in one major way, which is how much it allocates to savings. With the 50/30/20 rule, you put only 50% toward essential expenses, instead allocating 20% to savings and debt pay-off.

How does it stack up against the classic 50/30/20 budget?

The truth is, “many individuals may find that 50% of their income just isn’t enough to cover all necessary expenses,” said Kiplinger. For people feeling strapped by steep costs, the 60/30/10 budget can offer a more forgiving framework to follow.

Some experts worry, however, that the reduced rate of savings and debt pay-off could end up hampering long-term financial progress. Setting aside 10% instead of 20% can translate to “slower progress on savings and debt repayment, which may leave you carrying high-interest balances longer,” said NerdWallet. It may also make it challenging to, say, save enough for retirement or a down payment on a home.

The reallocation from savings to essentials could sidestep addressing root problems, too. For example, if “high rent is driving costs, downsizing or relocating might be a better solution than raising your ‘needs’ to 60%,” said NerdWallet.

How can you determine the right budgeting ratio for you?

Ultimately, the “exact ratios someone should use are flexible and many people find that they need to shape it to their needs,” said Stephen Kates, a certified financial planner and the principal financial analyst for Annuity.org, to U.S. News & World Report.

The 60/30/10 budget may work well for “young adults who have higher ‘startup’ costs like a first apartment, buying a car, moving to a new city for a job, student loan repayments, etc.” said NerdWallet. On the other hand, “older individuals may want to prioritize savings over spending, leading them to trim down the 30% allocation on discretionary spending and save more for retirement,” said Kiplinger.

Whichever ratio you land on, keep in mind that it does not have to be a permanent choice. As your financial situation evolves, so, too, should your saving habits.

When you get married, you might assume your taxes are now a joint venture. But that does not necessarily have to be the case.

Filing jointly tends to be the more popular option among married couples, both because it’s easier and because it can offer more tax benefits, potentially resulting in a lower tax bill. For some spouses, however, filing separately may be the preferable choice.

What is the difference between married filing separately vs. jointly?

Married couples have two filing status options come tax time: married filing separately and married filing jointly. When couples file jointly, they submit just one tax return that combines “income, deductions and credits with a spouse’s, all on one tax return with the same tax rate,” said Fidelity. Meanwhile, married filing separately means that you each file your own return, keeping your income, deductions and credits, and thus tax liabilities, separate on two different tax returns.

This choice has consequences beyond whether or not you can work together on your return. It also affects your effective tax rate and your eligibility for tax deductions and credits, which in turn determines how much you pay and get back at tax time.

When can it make sense to file separately?

While married filing jointly will generally result in the lower tax bill, “filing separately might be advantageous in situations where one spouse has significant deductible expenses or concerns about joint liability, as it allows for more individualized tax treatment,” said Chase. More specifically, couples may consider married filing separately in the following situations:

One of you has high medical bills. “If one spouse’s out-of-pocket medical expenses exceed 7.5% of their individual adjusted gross income (AGI), but don’t exceed 7.5% of their joint AGI, they might be able to lower their taxes by filing separately and taking the medical deduction,” said Intuit TurboTax.

Either you or your spouse has student loan debt. “If you’re on a student loan income-driven repayment plan, filing separately could reduce your bill since it would be based on your income alone, instead of your spouse’s income and yours combined,” said Fidelity.

There are tax liabilities or other issues. “If you don’t want to be liable for your spouse’s taxes and suspect that they are hiding income or claiming deductions or credits falsely, then filing separately is probably the best option,” said Investopedia. If you sign a joint return, you are assuming responsibility.

Another factor worth evaluating is your incomes and how combining them (or keeping them separate) influences your total tax bill. For instance, “dual-income households with similarly large paychecks could be pushed into a higher tax bracket than if they filed separately,” said CNBC Select.

When is married filing jointly a better choice?

The reason filing jointly is typically more advantageous is because “joint filers usually have higher income thresholds for certain taxes and deductions,” which “means they can earn a higher income and still qualify for certain tax breaks,” said Intuit TurboTax. They can also “more easily qualify for various tax credits,” including the Earned Income Tax Credit and Child and Dependent Care Credit.

The laws of your state are also worth weighing. If you live in a community property state, where all assets earned during marriage are considered jointly owned, “couples filing separately there each have to report half of the income both spouses earned, which could nullify most of the advantages of filing separately,” said NerdWallet.

There are a lot of myths and misconceptions when it comes to bankruptcy. But it is also a process that an increasing amount of Americans are facing.

Filings at the end of March this year “were up almost 12% from a year earlier,” said NPR. This suggests that a “growing number of Americans have reached the point where the pressure of their debt has overcome the stigma of bankruptcy.” While it’s still a last resort option, it can also be a lifeline back to financial solvency.

What is bankruptcy?

Bankruptcy is a legal process that people can go through when they are unable to pay back their debt on their own. Obtaining it requires filing a petition with the courts requesting relief.

The exact form this relief will take depends upon what type of bankruptcy you qualify for. Chapter 7 bankruptcy “can discharge eligible debts entirely, but requires the filer to forfeit nonexempt assets and property,” whereas with Chapter 13 bankruptcy, you “won’t have to forfeit any property, but you’ll need to set up a repayment plan to pay back creditors,” said LendingTree.

Why do people file for bankruptcy?

In short: relief. As soon as you file for bankruptcy, an “automatic stay takes effect, temporarily halting creditors from pursuing collection actions against you, including lawsuits, foreclosure and wage garnishment,” said Investopedia. And while it is generally a last resort, if you have “exhausted all other alternatives, bankruptcy may be the only way to get the financial relief you’re seeking,” potentially even offering a “fresh financial start” after you do the requisite work, said Experian.

However, it is worth noting that bankruptcy is not a guaranteed fix. Not everyone who files will qualify. Further, “certain debts, like child support and unpaid taxes, are ineligible for discharge through bankruptcy,” said Investopedia, which means it might not be the right solution for every situation.

What are the consequences of bankruptcy?

The financial reboot that bankruptcy can offer does not necessarily come easy. For one, bankruptcy has the potential to do major damage to your credit score, remaining on your credit report for up to 10 years. “It can take several years to rebuild your credit history,” said Experian, and in the meantime, you might have limited access to borrowing opportunities, such as a mortgage, credit card or car loan. If you are approved, you will likely pay a steeper interest rate.

Bankruptcy can also result in you losing some of your assets. For instance, under Chapter 7, if you “have a lot of home equity and your home isn’t protected from sale, your trustee might choose to sell it,” said LendingTree.

As such, before you go down this path, it is worth considering some bankruptcy alternatives. Depending on your situation, a debt management plan, debt consolidation or simply negotiating directly with creditors may be a better option.

If you are trying to save on your next car, you may be considering buying used instead of new. Used cars do usually cost less than new cars — but that does not mean you will automatically get a good deal on one.

“Today’s shoppers are facing record-high prices and a dwindling supply of budget-friendly inventory,” said The Washington Post, citing a new second-quarter report from car-shopping website Edmunds. Largely due to an imbalance between supply and demand, the current average price of a three-year-old used vehicle — $32,461 — is “4% higher than a year ago and a 15.5% increase from 2021.”

If you are in the market for a used car, here is what to keep in mind while shopping.

1. Know your numbers

Before you approach the negotiating table, it’s essential that you have done your homework. The first thing to figure out is how much you can actually afford to spend. “If you’re taking out a loan to pay for your car, a good rule of thumb is to cap your car expenses at 10% of your take-home pay, including your car payment and other ownership costs, such as fuel and insurance,” said Edmunds. And “if you plan to buy a car that’s out of warranty, it’s also a good idea to set aside a ‘just-in-case’ fund to cover unexpected repairs.”

If you know you need an auto loan, this is also a good time to verify your creditworthiness. Consider getting prequalified, which will not only provide a sense of how much you may be able to borrow and potential rates but also give you leverage when shopping and negotiating.

2. Make sure to comparison shop

Once you get to the point where you are eyeing up one car in particular, “look up the current market value — what other buyers have paid for that used car — in pricing guides such as Edmunds or Kelley Blue Book,” said NerdWallet. “Current pricing information from these impartial sources will give you confidence and show you how much to negotiate on a used car.”

It can also help to look at different sources. For instance, certified preowned vehicles tend to “cost the most, given that they typically have fewer miles, are often in better condition and have some warranty coverage,” whereas “private-party sales typically cost less,” though there is more effort involved, said Edmunds.

3. Dig into a vehicle’s history

A low price on a vehicle that turns out to be a lemon is not such a good deal in the end. This is why it’s important that you ask questions, and verify everything the former owner says before you sign. “Get the vehicle history report (Carfax and AutoCheck are two popular choices) to confirm the odometer reading, ownership history and reports of accidents and flood damage,” said Investopedia. And if you are “buying from a private seller, you can also ask to see a copy of maintenance records.”

Your own eyes — and nose — are a good resource too. “Visually inspect the car on a dry, sunny day to see imperfections and potential problems better,” said Consumer Reports. If you “smell mildew, the car may have been in a flood or there may be a leak somewhere, which could mean unseen water damage.”

Egg freezing is becoming an increasingly popular and visible choice among women. Rep. Alexandria Ocasio-Cortez recently joined the ranks of public figures who have shared their experience, detailing on social media her own decision-making and the realities of undergoing the process.

The procedure, in which eggs are harvested from the ovaries and then frozen for storage, can offer women an option if they are not yet ready to conceive or have health concerns and anticipated treatments that could later impact fertility. For many people, however, the cost of egg freezing is a major obstacle.

What is the average cost of freezing your eggs?

A single cycle of egg freezing “nationally averages around $16,000,” said The Sacramento Bee, citing FertilityIQ’s patient-reported data. This “includes roughly $11,000 for the clinic procedure and about $5,000 for fertility medications.” In addition, “egg storage is typically billed separately and can cost up to about $1,000 a year, depending on the facility,” said CNN Health.

Of course, there are a number of variables that influence how closely the actual cost aligns with these averages. One is location: “Clinics in mid-size cities may charge around $10,000 per cycle, while coastal metros like New York or San Francisco can exceed $18,000 for the procedure alone,” said The Sacramento Bee.

Also, “many women need to undergo multiple cycles to get their desired egg count,” said Dr. Marcelle Cedars, a professor and director at the University of California, San Francisco’s Center for Reproductive Health, to CNBC. That multiplies the initial estimate. Finally, when women are ready to use their eggs, they have the cost of IVF to navigate, which “averages roughly $23,000 per cycle,” said The Sacramento Bee.

How much does it cost if you decide to freeze embryos instead?

Despite the price tag, there is no guarantee that egg freezing will lead to a successful pregnancy. Freezing embryos can yield a higher success rate, which is why some women opt to freeze both their eggs and their embryos. Of course, this further compounds costs.

Since the process of embryo freezing also includes sperm banking and fertilization, it generally has a higher starting cost, averaging around “$10,000-$20,000 per cycle,” said the North Carolina Center for Reproductive Medicine. Storage is also necessary; this can run up to $1,000 a year.

What options are there to help cover the costs of egg and embryo freezing?

While “some high-profile tech companies, including Meta and Apple, have advertised egg freezing as an employee perk,” the reality is that “most insurance does not cover the cost unless there is a medical reason, such as ahead of cancer treatments that will damage or destroy a woman’s eggs,” said CNN Health. In fact, said The Sacramento Bee, “only about 20% of large U.S. companies include egg freezing in their benefits.” Still, the first step when assessing costs for the procedure is to check with your health insurance plan to see what costs it may help cover, if any.

A total of “21 states have fertility preservation mandates, which means they may cover some aspects of medically necessary egg freezing (and/or sperm freezing) for qualified patients,” said CCRM Fertility. The fertility clinic itself may be willing to offer discounts or payment plans, and there are various organizations that offer financial assistance and even grants or scholarships. You might also consider using your Health Savings Account (HSA) or Flexible Spending Account (FSA) funds toward qualified expenses.

You finally got a raise at work. Now you feel a little more comfortable ordering in a few times a week, and you are not thinking twice if you need to opt for an Uber over taking the bus. Your quality of life may have improved, but when you look at your bank account, the numbers are more or less the same — even though your salary went up.

This phenomenon is what is known as lifestyle creep, and it’s not uncommon for it to occur when you start bringing in more money, whether due to a pay increase, a bonus or a new job. While there is a case to be made for leveling up as your career does, doing so in lockstep with your income can leave you right back where you started financially.

What is lifestyle creep, and why is it a problem?

Lifestyle creep, sometimes called lifestyle inflation, “occurs when your spending gradually increases as your income rises,” said U.S. News & World Report. Basically, what happens is those two figures move up in tandem, squeezing out the opportunity that a higher income should provide to save and invest more.

What makes it so insidious is that “it happens little by little, so you may not even realize it,” said Investopedia. In other words, “it sneaks (or creeps) up on you.” The small shifts you are making in your lifestyle, whether that be splurging on slightly nicer clothes or making your weekly latte a daily occurrence, can have big impacts. Unfortunately, “lifestyle creep can deplete your savings and prevent you from achieving long-term financial goals.”

What are the warning signs of lifestyle creep?

Improving your lifestyle and overall quality of life is not inherently a problem. To “some degree, lifestyle creep is expected,” said U.S. News & World Report. There are signs, however, that you may have taken it too far.

One sure sign that “your lifestyle may be creeping up too much can be that you begin saving and investing less and less,” said Fidelity. Another tip-off is that you have started accumulating debt, perhaps carrying a credit card balance.

You may also notice your attitude toward budgeting and tracking your spending has changed. For instance, maybe “you have stopped following your budget because you assume you’re earning enough not to have to worry about spending,” or you now “feel as if you can afford to buy whatever you want and no longer stick to previous limits,” said SoFi.

How can you avoid lifestyle creep?

To avoid falling into the trap of lifestyle creep, follow these three steps.

Make a budget. “Give all income a job to do,” said SoFi. Before you start spending, put a portion into savings and invest another amount, making sure to reserve enough to cover essentials. Anything that remains, you can allocate toward fun splurges or upgrades.

Track your spending. Often, lifestyle creep is not an intentional choice but an accrual of small shifts in spending. To make sure that does not happen, keep tabs on where your money is going. Budgeting apps make this easy to do.

Set goals. A new pair of shoes may feel nice, but reaching a financial goal, whether that is finally buying a house or being able to retire early, will arguably feel even better. “One key to avoiding lifestyle creep is to set long-term financial goals and keep your eye on the prize,” said SoFi.

At a certain point, a “swelling retirement account isn’t really about retirement,” said Daniel de Visé in USA Today. The average American family has a little more than $268,000 saved up in an individual retirement account. But at least 32,000 people have amassed more than $10 million in workplace and individual retirement accounts like a Roth IRA, which can grow without taxes due on the earnings, according to the Joint Committee on Taxation. And “at the top of the wealth heap, 208 taxpayers have $85 billion saved in IRA-type accounts” that were originally designed for the middle class. “One might wonder how any American, no matter how wealthy,” could amass so much given the restrictions that govern contributions. After all, even “at its most generous,” the federal government only allows certain older Americans to contribute a maximum of $35,750 to a 401(k). Yet some people have found ways around the guardrails.

The “mother of all tax breaks” comes to those who stash startup shares in a Roth, said Brian Contreras in Inc. Entrepreneurs, hedge fund managers, and Silicon Valley insiders who have access to early and promising startups will often deposit “that stock in an IRA or workplace retirement account” and watch it pile up “massive gains while still enjoying substantial tax benefits.” Because those shares are cheap at first, they remain within annual contribution limits. Roblox board member Gregory Baszucki, for instance, has “at least $68 million worth of Roblox stock in his Roth IRA, and potentially about $158 million in tax-free holdings total.”

That’s how retirement accounts have become “an artifact of ever-expanding wealth inequality,” said Michael Hiltzik in the Los Angeles Times. While 40% of working Americans “don’t have any retirement savings at all,” the rich abuse the system to amass millions tax-free. “The outsize growth of plutocrats’ retirement accounts has bubbled up to public notice” again recently, after Sens. Ron Wyden (D-Ore.) and Richard Neal (D-Mass.) proposed legislation to cap IRAs and 401(k)s at $10 million. Even that amount seems “excessive.”

But anyone can supersize their retirement account with some savvy execution, said Anne Tergesen and Theo Francis in The Wall Street Journal. A “little-known fact about 401(k) plans” is that employees can really set aside “as much as $72,000 in these accounts every year, rising to as much as $80,000 for those 50 and older.” To go beyond the usual $24,500 limit, a worker can contribute as much as another $47,500 after taxes—and then convert that money to a Roth 401(k). “Someone who saved the equivalent of today’s $72,000 maximum” every year from 1984 to 2019 would have had $20.6 million by the end of 2024, “assuming returns consistent with the S&P 500 index.”

Speculation is rife with just a couple of months to go until the first Autumn Budget for new Prime Minister Andy Burnham and Chancellor John Healey.

“It’s an unusual high-stakes moment,” said Coutts, as Burnham has only just returned to Parliament as an MP and Healey is “fresh to the chancellorship, succeeding Rachel Reeves”. The Budget will be delivered to Parliament on 28 October.

It will come at a time when public finances are “expected to be gloomier than forecast at Rachel Reeves’ spring statement”, said The Guardian, when the Iran war had only just started.

Burnham has already announced a “handful of cost of living measures”, said Which?, which include a £2 cap on bus fares, the removal of VAT from electricity bills and a business rates tax cut for pubs and clubs.

There are plenty of clues on further cost of living support but no certainty yet on what will be announced. Healey has said, however, he wants to move “power and money out of Westminster, and into every postcode around Britain”.

Here is how the Autumn Budget could impact your finances.

Tax threshold tinkering

Burnham has committed to keep Labour’s manifesto pledge not to raise income tax rates. But during the Makerfield by-election campaign he did hint at “revising the personal tax allowance”, said Which?, to amend when people’s earnings move into different tax bands.

Wealth taxes

Former chancellor Reeves unveiled a mansion tax in her final budget, which Healey is expected to “push ahead with”, said The Sun.

Other wealth taxes are still “much discussed”, said BDO, but there are fears that a straightforward wealth tax would lead to the wealthy leaving the UK. Other taxes on wealth, such as raising the capital gains tax rate, “might prove better at raising revenue”.

Property tax changes

Burnham has previously described the UK's property tax system as “outdated”, said Fidelity, and has “expressed support” for a land value tax to replace stamp duty and council tax. However, he did say during the summer that there were “no immediate plans” to abolish either one.

Social care strategy

One “bold idea”, said The Independent, is to scrap inheritance tax and replace it with a social care levy. But tax moves to fund a social care overhaul “may simply be delayed until a future budget”, added BDO, as Baroness Casey’s independent commission on adult social care is not due to report until summer 2027.

Pensions

Get set for “another period of speculation on pensions”, said Saxo.

The previous two Labour budgets had all kinds of speculation about limits being cut, such as pension tax relief, “leading to withdrawals and investors pulling money out of portfolios”.

Healey is “broadly expected”, said The Sun, to continue with plans to add pensions to estates for inheritance tax from April 2027.

Burnham has already committed to keeping the state pension triple lock but there is “persistent speculation about cutting the tax-free pension lump sum”, said WealthR. Trimming pension tax relief “could also be on the radar”.

If you have ever looked into how to make a budget, you’ll quickly find the calculations typically hinge on how much money you earn each month. But what if you don’t know how much you will make next month, let alone six months from now?

This kind of income uncertainty can create a wrinkle in the budgeting process for gig workers, seasonal employees, freelancers and commission-based workers. However, that does not mean they should skip budgeting altogether. Rather, those with irregular or unpredictable incomes just have to approach the budgeting process a bit differently than those with steady paychecks.

1. Plan around your worst month — not your best

If your income is high one month and low the next, you may think the best way to approach that from a budgeting perspective is to work based on the average amount you’re earning. But it’s actually “way better to start low than to start with an average,” said Ramsey Solutions, a personal finance blog. “If you budget low, you can always go up from there,” whereas if you end up “overestimating and then having to scale back later, that can put you in a real tight spot.” So find the month in which you earned the least, then build from there.

2. Make sure every dollar you earn has a purpose

When figuring out how to budget with irregular income, “one of the most effective strategies is the zero-sum budget,” said Discover. With this budgeting method, you assign every dollar that hits your bank account a specific purpose, whether that is covering groceries, contributing to your retirement account or paying off student loans.

You can use the lowest-income figure that you determined in the prior step to set a baseline for assigning purposes. Using that amount, figure out how you will put every last dollar of your income to use. Then, if there is some extra one month, you can top off your savings.

3. Create a buffer with savings

An emergency fund becomes especially important if you do not have the reliability of a regular paycheck. If one month goes off the rails — maybe you lose your most important client or have a health issue — then your savings account is what will see you through. To keep steadily building up that balance, a “good strategy is to put at least a portion of every paycheck you get into savings,” said NerdWallet. And if you aren’t “making enough to do that, you may need to branch out.”

4. Remember to plan ahead for taxes

Many people who do not earn a paycheck from a traditional employer are responsible for paying their own taxes, rather than having them automatically deducted from their paycheck. The impact can be surprising, adding another element of unpredictability. But planning can help lessen the blow. “A good rule of thumb for commissioned and self-employed people is to set aside 25% to 33% of every payment for federal and state taxes,” stashing that in a separate account reserved exclusively for quarterly estimated tax payments, said U.S. News & World Report.

When tackling something challenging, coming up with a plan is often a good first step. That is certainly the case when it comes to paying down debt, especially when your balance is already overwhelming and still ballooning thanks to interest.

Debt management plans, which are created and administered by credit counseling agencies, aim to give you a roadmap toward getting debt-free. They can also streamline the number of monthly payments you have to worry about and potentially lower the interest rate and fees you are paying, smoothing the path even further.

What’s a debt management plan?

A debt management plan is a strategy for paying off certain types of debts, specifically unsecured debts like personal loans and credit cards. Offered by credit counseling agencies, a debt management plan “lumps your debt payments into a single payment with a reduced interest rate,” which in turn “gives you a structured path to pay off the debt over three to five years,” said NerdWallet.

Once you meet with a credit counselor to create a plan and decide to enroll, the counselor will reach out to each of your creditors, informing them of the plan and potentially negotiating the debt owed, asking them to waive fees or reduce interest. You will then make a payment each month to the credit counseling agency, which will in turn pay your creditors on your behalf. Typically, you’ll owe a one-time fee for the plan’s set-up as well as recurring monthly fees.

What are the pros and cons?

The most obvious benefit of a debt management plan: It can help you pay down your debt. “Your counselor works with you to develop a livable budget that makes room for debt payment and savings,” and they may also “negotiate with creditors to secure lower interest rates, enabling you to pay off your debts faster,” said Experian. Further, with a debt management plan, you will need to worry about just one monthly payment to the credit counseling agency.

There are trade-offs, however. “With a debt management plan, you typically must close any open credit accounts,” and “you usually can’t open new accounts until you’ve repaid your debt,” said Discover. You may initially see your credit score drop due to these closures “but not as drastically as it would with a bankruptcy or debt settlement,” which a debt management plan will help you avoid, said Experian.

And remember: This help does not come free — or fast. You will typically owe a fee for the service. In addition, the “plans often take several years to complete, and not everyone can stay the course,” said The New York Times.

When can a debt management plan be the right solution?

“People who have stable income but who find themselves juggling payments for several high-rate credit cards are generally good candidates,” said the Times. To see a debt management plan through, you need to be able to make the payments each month, as missing just one can lead to the plan’s cancellation. But with a plan, you will at least be making these payments under the structure and guidance of a professional (and hopefully with a lower rate).

Keep in mind that these plans only work for certain types of debt. It “may not be as beneficial if your largest debts are secured, such as an auto or home loan, since these can't be included,” or “if several creditors refuse to participate in the plan and reduce interest costs or fees,” said Experian.

If you need cash and happen to own your home, the equity you have built up there can be a good place to look for it. There are a variety of ways you can tap into those funds, one of which is a cash-out refinance.

This particular option has become “increasingly popular” in recent years. “These loans are up 13% year-over-year and are expected to account for more than 40% of all mortgage refinancings in 2026,” said The Wall Street Journal, citing the Federal Housing Finance Agency. But just because cash-out refinancing is growing in popularity does not mean it’s always a good idea or the right fit for everyone.

What is a cash-out refinance?

Cash-out refinancing lets “homeowners convert part of their home equity into cash by replacing their current mortgage with a larger one,” with the “difference between the two loans paid out in cash,” said Investopedia. This distinguishes it from a typical refinance, where the new loan is for an equal amount, leaving no leftover funds.

Typically, lenders set an 80% loan-to-value (LTV) ratio, which means “you can borrow up to 80% of your home’s value — minus your outstanding mortgage balance,” said LendingTree. There are often not many restrictions on how you can use the funds, whether that is home repairs or renovations, debt consolidation or a major cost, like college tuition. Keep in mind that this is a secured loan, with your home serving as collateral. It is also necessary to meet eligibility requirements to qualify.

What are the pros and cons of cash-out refinancing?

A cash-out refinance gives you access to cash, typically at a lower interest rate compared to options like credit cards or unsecured loans. Plus, if your financial profile and credit have improved since you took out your original mortgage, you could qualify for better terms.

A better rate is not a guarantee, however. If interest rates have “risen since your original mortgage, you’ll pay more on the new loan even with a credit score of 740 or higher,” said Bankrate. And “since the new mortgage is larger, that higher rate applies to more debt.” The larger balance will also often mean higher monthly payments, with your home on the line if you cannot make them. In addition, you can usually expect to pay closing costs and fees when you refinance.

When can a cash-out refinance make sense?

A big part of the decision comes down to the numbers. You will want to figure out whether you even have enough home equity to qualify — lenders will likely require at least 20% — and how much closing costs and fees will cut into the loan amount you receive. It’s also vital to consider whether the new monthly payment is feasible for your budget.

Your plan for the funds is a deciding factor as well. While some uses, like “funding a renovation that adds resale value or paying off high-interest debt,” can make sense, “if you’re covering a vacation, a car or other discretionary spending, you’re trading long-term home equity for short-term spending, and the math rarely works in your favor,” said Bankrate.

When taking out student loans, most borrowers are aware of two options: federal student loans and private loans. But amid new limits on federal loans for graduate students in particular, the availability of a third option — state-backed student loans — is becoming increasingly widespread.

While technically “states have had their own student loan offerings for decades,” a number of them have “recently moved to expand their loan offerings in anticipation of the added restrictions on federal borrowing,” said CNBC. These loans do not necessarily offer the same protections as federal loans. Still, they may be an alternative to private loans worth considering.

What are state student loan programs?

State student loan programs are offered by select states as opposed to the federal government or a private lender, and they are often overseen by a state’s department of postsecondary education. As of July, “at least 16 states offer state-run loan programs for students pursuing a postsecondary degree or credential,” said the National Conference of State Legislatures, a bipartisan organization that serves the legislators and staff of all 50 states.

In general, state-backed loan programs “have similar requirements and benefits to federal loans: low, fixed interest rates and flexible repayment plans,” said SoFi. Specifics, however, vary by state, among other factors. For instance, “interest rates on state education loans vary by state, and can also depend on the degree program and borrower qualifications, such as income and credit score,” said CNBC. Eligibility requirements and borrowing limits can also vary.

How do state student loans compare to federal loans?

It’s “important that borrowers understand state student loan programs are excluded from federal relief options and protections,” Tiara Moultrie, a fellow at The Century Foundation, a left-leaning think tank, said to CNBC. This includes federal repayment plan options like income-driven repayment and Public Service Loan Forgiveness (PSLF), though some states do offer their own alternatives.

Further, while interest rates can be comparable to federal loans, they can also be a good bit higher. Interest rates on “some state student loans can exceed 10%,” according to a July analysis by The Century Foundation, whereas the “U.S. Department of Education’s Direct Unsubsidized Loans for graduate and professional students currently come with a flat interest rate of 8.07%,” said CNBC. But the opposite can also be true: “The interest rate for a borrower with a co-signer and a 10-year repayment term, for instance, is 6%” in Minnesota’s SELF Grad Loan program, said The New York Times.

Another major difference is in the qualification process. Federal direct subsidized loans do not have credit score requirements, but state loans may. Debt-to-income ratio and financial history could also be taken into consideration.

Who can use state loan programs?

State residency may or may not be a factor in eligibility, depending on the specific program. For example, “Minnesota’s program is open to students who are either residents of the state or out-of-state students attending a participating in-state college or university,” while “Connecticut’s program is available to Connecticut residents, or residents of seven other states (Maine, Massachusetts, New Hampshire, New Jersey, New York, Rhode Island and Vermont) who are attending an eligible Connecticut institution,” said the Times. Additionally, approval usually takes into consideration factors like “credit score, annual income, credit history, debt-to-income ratio and whether a borrower is attending a qualifying institution,” said The Century Foundation.

From girl math to loud budgeting, social media has gone through its fair share of financial trends. The latest one, however, may have some staying power.

Known as moneymaxxing, this new fad focuses on making the most of, well, your money. “While the tactics can vary, the underlying goal is simple: Make sure every dollar is doing as much as it reasonably can, so you’re able to put your money where it really matters,” said Northwestern Mutual. Here’s what to know.

What is moneymaxxing?

In short, moneymaxxing “encourages people to maximize their budgets by trimming recurring expenses, redeeming rewards points — a related trend known as ‘pointsmaxxing’ — and stashing extra cash in a high‑yield savings account,” said CNBC. Other actions aligned with the movement might include evaluating how you are allocating your money and setting clear financial goals.

Admittedly, the concepts that moneymaxxing espouses are not really new, though social media has given it a fresh spin and name. “It’s kind of like the FIRE movement — financial independence, retire early — but gamified. It makes saving feel like something you can do without going the normal route,” said certified public accountant and financial planner Felicia Greenwald to Parade.

Why is moneymaxxing getting popular right now?

The rise of moneymaxxing may have something to do with the financial reality many Americans are currently facing. “Largely because of rising costs, young adults are having a hard time making it on their own,” said CNBC, with many still relying on their parents and viewing financial independence as a far-off prospect.

Moneymaxxing “helps close these gaps by encouraging people to pay more attention to their finances,” said Northwestern Mutual. From there, they can start to make more meaningful, intentional decisions, whether that means focusing on paying off debt, building an emergency fund or saving enough for a rental deposit.

The social aspect of the trend can also be motivating. “When those numbers are real, and people are talking about real figures, it’s easy for people to understand and not feel so alone in their own financial struggles,” said Greenwald.

How can you start moneymaxxing?

Moneymaxxing is a trend — but it can also be a smart way to maximize the funds you have, making the most of your financial situation no matter what it looks like. A great first step into moneymaxxing is to get a handle on how much money you have going in compared to how much is going out, and where specifically that money is going. You can then use that information to identify what is and isn’t working as efficiently as it could be.

The next step is to determine your financial priorities. “Whether the objective is to reduce debt or build a savings cushion, having a clear milestone can help you stay motivated,” said Jack Howard, the head of money wellness and behavioral finance expert at Ally Bank, to CNBC.

Finally, there is the task of figuring out how to actually achieve your financial aspirations. You might consider breaking down intimidatingly lofty goals — like building an emergency fund with six months of expenses — into smaller, more manageable chunks, like aiming to set aside a small amount each month. Financial tools can also help offload some of the work, whether that is choosing a budgeting app to help you stay on track or using automation to ensure consistent transfers to savings.

Sticking to your budget can be hard enough without inflation. But when prices on everything from gas to groceries are steadily creeping upward, sticking to your plans for spending can feel like a losing battle.

When your money is not stretching as far as it used to, creating a budget — and sticking to it — becomes more important than ever. And while you may not be able to push the price of gas back under $3 a gallon, there are still steps you can take to better stay on track financially amid inflation.

1. Get a handle on your current spending habits

Sure, inflation can play a role in you going over budget. But whether or not you would like to admit it, your own spending habits matter just as much. “If you haven’t already, track your purchases for a month,” then “consider whether increased expenses are due to inflation, habit creep or a little of both,” said NerdWallet.

Equipped with this information, you can make informed adjustments accordingly. Maybe you see an area where you tend to overspend, and you can commit to cutting back there. For example, perhaps you’re underestimating the actual cost of groceries each month; in this case, you could allocate more to that line item and away from others, or you might instead look for ways to get creative with meal planning and work with less.

2. Reevaluate debt

Paying down debt should not fall to the wayside entirely, even when your budget feels tight. The longer you stretch out repayment, the more you may pay in interest and the more time you will have that burden hanging over your head. You can, however, explore ways to make your debt payments take up a smaller chunk of your budget.

Taking advantage of options like a credit card balance transfer or debt consolidation loan could allow you to repay your loan at a lower interest rate. So could refinancing, a possibility for both student loans and mortgages. Just make sure you understand the drawbacks, alongside the benefits, before committing.

3. Take advantage of automation

Budgeting admittedly takes work. But using budgeting apps and automated features can help offload some of it. Not only can automation “simplify saving money and paying bills” through options like automated bill pay and automatic account transfers, but “money that goes automatically into your savings also means it’s not sitting elsewhere — like in your checking account, where you’re more likely to spend it,” said Bankrate.

Especially when prices are uncertain and trending upward, a bit of cushion in your savings can come in handy. “If possible, keep a few hundred dollars extra in your spending plan to account for costs that are higher than expected,” said NerdWallet. “That way, you can handle it when factors outside of your control put you over budget.”

4. Check in regularly

Even if you employ some tools to handle tasks automatically, your finances should never become a set-it-and-forget-it situation. That is especially true when economic conditions are shifting rapidly. A “budget loses a great deal of its value if you don’t check to see if you're sticking to it,” said TD Bank.

Plan check-ins at a regular cadence, perhaps monthly, and use that time to “review all your spending and savings to see if you're hitting your targets,” said TD Bank. If you are not, this is the time to make changes proactively — rather than reactively.

Having a good listing agent can mean the difference between a frustrating home-selling process with disappointing results and one that is easy and lands the best possible offer. But how do you figure out which realtor will do a solid job representing you in the transaction? While there is never a guarantee that a relationship will be smooth sailing, there are a number of factors you can evaluate in your search to help you find the right fit. Here is how to know you have found the best realtor for the job.

They have the right qualifications and experience.

Step one when choosing a real estate agent is ensuring they are actively licensed in your state. Search for them in a real estate licensing database and also reference your state’s licensing division, noting “when the license was issued and if there are any temporary suspensions or complaints on file,” said HomeLight, a real estate matching service.

Experience also matters. “Ask potential listing agents how long they’ve been selling real estate and how many houses they’ve sold recently,” said NerdWallet. “If someone hasn’t closed a deal in several months, that’s a reason for concern.” Ideally, they will also be familiar with your particular area and housing market.

They answer your questions clearly and are professional.

Personality and communication style are worth weighing when choosing a realtor, as this will be a working relationship. “I see so many consumers get stuck with an agent who looked good on paper but was awful to deal with,” said Wendy Gilch, a fellow at the Consumer Policy Center, to The New York Times.

The best way to evaluate prospective agents is to interview at least a few of them. See whether they will clearly address your questions and assess their demeanor when they do so. Recommendations and reviews from trusted sources and former clients can also be helpful here.

They have a plan for pricing and marketing your home.

An experienced listing agent should have a solid handle on comparable homes in the area (often referred to as “comps”) and an informed explanation for their suggested list price for your home. “If they can’t have a full discussion about pricing and comparables, that’s a red flag,” said Gilch to the Times.

In addition, a “good real estate agent will have a robust plan to promote your listing to find the right pool of buyers,” whether that is through open houses, professional photography or specific staging recommendations, said NerdWallet. It’s important that you feel aligned on the approach and confident it will deliver.

They have a fair rate and transparent contract terms.

Before signing anything, make sure you understand what your realtor will charge for their services and what exactly is included. “A full-service real estate agent will provide a high level of offerings that go toward giving you a great selling experience and boosting exposure to your home,” said HomeLight.

And remember: “Agent compensation is fully negotiable and not set by law,” said the National Association of Realtors. You should not feel pressured or like you cannot push back.

The message is clear that you should be saving for retirement. What may be less clear: what, exactly, you are saving for. There are the obvious costs most retirees can predict, such as continued basic life expenses, or some they will even look forward to, like the expense of additional travel and time spent on hobbies.

Then there are costs that retirees often end up overlooking when they are meting out their retirement account balance. These can inevitably end up complicating what seemed like a smart retirement plan. Here are some of the most common hidden costs to look out for.

1. Out-of-pocket healthcare costs

Most retirees are aware that healthcare costs are a reality of aging. What can fly under their radar, however, is just how rapidly healthcare costs can rise and how much they may have to pay out of pocket.

“Once you retire, you’ll still be responsible for premiums, deductibles, copays and services that Medicare doesn’t fully cover, like dental, vision and hearing,” said GOBankingRates. Not to mention “long-term care or extended rehabilitation after a surgery or illness.”

A surprising or devastating health event can easily throw a wrench into things. “Without insurance and depending on the severity, unexpected medical costs can range from $20,000 for a two-night hospital stay to $100,000 or more for longer stays and critical conditions,” said certified financial planner Jeffrey Stouffer to Kiplinger.

2. Taxes

When you are working, taxes are often automatically deducted from your paycheck, which means you do not have to think about them when budgeting. That is not the case in retirement. Nor do you get to skip out on taxes in your golden years because you are no longer bringing in a regular paycheck.

The reality is, “distributions from traditional individual retirement accounts (IRAs) and 401(k)s are taxed as ordinary income,” and “depending on your combined income, up to 85% of your Social Security benefits may be taxable,” said Citizens Bank. You may also end up owing taxes on any income from investments or pensions, not to mention property taxes if you own your home.

3. Rising insurance premiums

Even if you have a line item in your budget for home and auto insurance, that may soon become obsolete as premiums continue to go up. “While overall inflation has hovered between 2% and 3% in recent years, home insurance rates surged by 11% in 2023 and 11.4% in 2024, according to a July 2025 LendingTree analysis,” said AARP. Further, “federal data shows motor vehicle insurance premiums have risen at double or triple the overall inflation rate for most of 2025.” Retirees may therefore end up paying a lot more than they initially expected over time.

4. Inflation

While you may hear a lot about inflation on the news, “retirees routinely cite inflation as one of the most surprising ongoing costs in retirement,” said Kiplinger. It can creep into just about everything, from groceries to utilities to housing. “Even at a moderate historical average of around 3% per year, the cost of essentials” can “more than double over a 25-year retirement,” said Citizens Bank.

You have worked your whole life to save up enough to retire. And now you have — but you are afraid to spend those hard-earned savings.

Being frugal in retirement may seem like a good thing. You are most likely living on a fixed budget with no more paychecks flowing in. For many retirees, however, concerns about outlasting their savings leave them limiting themselves unnecessarily.

Why do people tend to underspend in retirement?

For many retirees, the “biggest hurdle is psychological rather than financial,” said U.S. News & World Report. “Many retirees have spent decades living below their means, making thoughtful financial decisions and consistently saving for the future,” which means that “by retirement, those behaviors have become second nature.” It can be hard for these retirees to suddenly change their money mindset and pivot to spending the retirement savings they worked so hard to accumulate.

Fear is another component. “According to a recent survey by the Employee Benefit Research Institute, more than three in four retirees agree they can afford to spend freely — but nearly half say they still underspend out of fear they’ll run out of money,” said Charles Schwab.

Then there is the very real puzzle of figuring out an appropriate amount to spend. After all, it is impossible to know how long you will live or how well your investments will perform.

What are the risks of underspending in retirement?

The risk of overspending in retirement is obvious; the risk of underspending may be less so. But “according to financial advisors, it ultimately amounts to something similar: not living as fulfilling a life as one could have,” said CNBC. “It represents a life not lived, the vacations you didn’t take because you were afraid you were going to run out of money,” said certified financial planner Marianela Collado to the outlet.

Sure, you can ultimately pass on what remains to your heirs or to a charity or another organization of your choosing. But by playing it safe and never tapping into what you worked so hard to accrue, you never get to reap the rewards of all that labor.

How can you figure out a safe rate of spending in retirement?

Admittedly, the “‘right’ withdrawal rate is far from settled science, in that you’re trying to figure out how much to extract under uncertain market conditions and an unknowable time horizon,” said Morningstar. Instead of trying to come up with a hard-and-fast withdrawal rule that will last throughout your retirement, think of it as something you can continually reassess as your circumstances shift.

Known as “flexible withdrawal strategies,” these “ebb and flow with a portfolio’s balance,” said Morningstar. Such strategies may allow you to withdraw more of your portfolio during your own lifetime “rather than leave behind big balances after death.” Maybe you slow down your spending after a big year of travel, for example, or a market downturn. As long as you allow yourself to ramp it up when things are going well and you have golden years you want to live to the fullest.

A law aimed at curtailing surprise medical billing has been surprisingly lucrative for doctors, said Anna Wilde Mathews and Tom McGinty in The Wall Street Journal. Health-care providers were awarded nearly $15 billion last year from arbitrators called in to settle medical billing disputes, more than triple the amount in 2024. It’s an unintended result of the No Surprises Act, passed by Congress in 2020 in response to a surge of complaints from patients about “huge, unexpected bills from doctors who weren’t in their insurers’ networks.” Patients are no longer responsible for those bills, but their insurers now battle doctors in arbitration hearings “over how much they will pay.” Doctors are winning around 80% of the cases. Some insurance groups allege that the system is getting “gamed,” said Sarah Kliff in The New York Times. Seeing the favorable results, “a growing number of medical providers and billing firms have begun using it to obtain higher payments for scheduled procedures”—and then winning payments “that are 10 or hundreds of times as high as what insurance typically pays.”

The No Surprises Act has spared millions of Americans from unexpected medical costs, said Lisa Jarvis in Bloomberg. It “addressed a real problem many Americans regularly experienced.” Unfortunately, that great bipartisan achievement is getting abused, which means patients will start “paying the bill in other ways.” Several insurers, like UnitedHealthcare of New York, have already said that “costs associated with the dispute process accounted for a portion of its premium hike for next year,” which could be as high as 9%. “What began as an exercise in consumer protection” is instead becoming “another force pushing health care out of Americans’ reach.”

It’s a perfect example of a policy with consequences “nearly the opposite of what was intended,” said The Wall Street Journal in an editorial. The Biden administration estimated there would be 17,000 disputes every year; last year, there were 2.6 million. Part of the problem is that “arbitrators don’t often throw out ineligible claims.” The government should audit and discredit the obvious money grabs. However, the Trump administration “finalized a Biden-proposed rule aimed at making arbitration more efficient and less expensive.” This will only “encourage more claims.”

Early drafts of the No Surprises Act foresaw this very issue, said the Washington Examiner. Those drafts required “insurers to pay out-of-network providers a clear, market-based benchmark rate,” which was usually tied to the median in-network price for the same service in the same area. “This was the simplest and fairest solution.” But hospitals and medical groups argued this would be too favorable for insurers. And so instead the arbitration process has become “a racket.” Congress must fix its mistake.

Winning a scholarship can help make covering the cost of college much more manageable. And unlike student loans, which you have to pay back, scholarships are money that is gifted to you free and clear — well, almost.

In some cases, you may have to pay taxes on that scholarship money. So, what are those cases? The problem with that question is “answering it often seems to require a Ph.D.,” with confusion abounding among both parents and students, said The Wall Street Journal. Figuring it out in advance, however, is key to minimizing tax impacts or at the very least being aware of them.

When do taxes not apply to scholarships?

Perhaps it is first easier to understand when you do not owe taxes on scholarship funds. “A general rule is that your college scholarship is tax-free when it is used to pay for ‘qualified education expenses,’” said Kiplinger. These are the costs that are “typically limited to items required for all students to attend a particular institution” — think “tuition, fees, books and supplies.”

The student, as well as the school, must also meet certain requirements for the scholarship money to be tax-free. Specifically, the student must be a “candidate for a degree at an educational institution that has regular faculty, regular curriculum and a regularly enrolled population of students in attendance,” said H&R Block.

When do you owe taxes on scholarships?

If you use your scholarship funds for costs beyond what is absolutely required for all students in attendance at the program, then income taxes will generally apply. So, for instance, “if a student uses scholarship dollars to buy a computer that’s not required, those funds are likely taxable,” said the Journal. The same goes for “funds used to pay for room, board, most travel and optional expenses,” as well as any “money the student receives for other services, such as office work,” alongside “stipends for living expenses.”

Additionally, for your scholarship to be tax-free, the amount cannot exceed your qualified education expenses. “If your scholarship exceeds the amount of your qualified education expenses, you may need to report the excess amount on your tax return,” said Kiplinger.

How should you report a taxable scholarship?

If your scholarship is indeed taxable, you will need to report that to the federal government. The process for doing so is the same as it is for any other income.

You will report the taxable scholarship amount using either Form 1040, Form 1040A or Form 1040E Z on the line labeled “Wages, salaries, tips.” If “no W-2, Wage and Tax Statement was received, also enter ‘SCH’ by the taxable amount,” said H&R Block.

Summertime heat can bring sky-high electric bills, which may have you searching for new savings opportunities. Solutions can range from the low-cost option of increasing the temperature by a few degrees to the high-cost solution of installing an entirely new cooling system. A middle-of-the-road option that may be worth exploring? Upgrading to a smart thermostat.

These devices make it easy to set your system on your schedule, so you are not running it unnecessarily when you are at the office or away on vacation. Some are even more advanced, automatically detecting your absence and switching to a more energy-friendly mode. While these shifts can cut down on usage and increase efficiency, calculating the actual electric bill savings you will see is not necessarily clear-cut.

How can a smart thermostat save you money?

The potentially cost-saving feature most smart thermostats offer is an app that you can use to easily set a schedule for the heating and cooling of your home. “Technically, you can do this with any thermostat, but smart thermostats make it especially easy with their eco modes and suggestions, which means the average user typically starts saving more money when they adopt a smart thermostat,” said CNET. The app can also display your energy usage habits, which can help you course correct going forward.

Some more advanced smart thermostats take things a step further. They figure out when “nobody is home, most commonly with motion or occupancy sensors, or by checking the location of your phone,” and then they flip to an “energy-saving model” if no one is around, said Consumer Reports.

What is the average savings a smart thermostat offers?

Compared to the savings some smart thermostat manufacturers claim, “independent research tends to paint a more conservative picture,” said CBS News. Many studies show “average savings closer to 10% to 15%.”

The savings rate you see will depend on a variety of factors. In general, the “largest savings are often seen by homeowners who previously left their thermostat at the same temperature around the clock,” said CBS News. If you were already scheduling your thermostat, you may not see as big a difference. Same goes for if you are home most of the time, or if you live somewhere with more moderate temperatures.

When can installing a smart thermostat make sense?

Whether a smart thermostat “makes financial sense for your budget depends largely on your current habits, your HVAC system and how long you expect to stay in your home,” said CBS News. Consider how much you are currently adjusting your home’s temperature based on your occupancy and how often you are there; switching modes during absences is the main way smart thermostats offer savings.

Some HVAC systems, such as “an older HVAC system without a C-wire” and “electric baseboard radiators,” tend not to work with smart thermostats, said Consumer Reports. Systems like “modern variable-speed air conditioners, and especially heat pumps,” may become less efficient with a smart thermostat, since they are “designed to work better and more efficiently when they run constantly at a fixed temperature.”

Lastly, it is important to account for the cost of the thermostat itself, which runs from “around $100 for the cheapest models to more than $350 for top models with all the bells and whistles,” said CNET. You will also need to pay for installation. Still, with the average savings most smart thermostats offer, you can expect to offset those costs “within a year or two.”

Picking up the phone and realizing a debt collector is on the other end is a stomach-dropping experience. It is also a conversation that can have numerous potential implications, which is why it’s essential to know ahead of time how to navigate the call when the time comes.

Unfortunately, these conversations are becoming more prevalent amid soaring credit card bills and unpaid medical debt. “Lawsuits filed by debt collectors over unpaid credit card bills and other outstanding balances have surged to their highest levels in years,” said the Pew Charitable Trusts, per The Wall Street Journal. Here is how to prepare.

You have a right to know the facts.

Believe it or not, “many sold debts have errors about the amount owed or even who owes it,” said NerdWallet. So, as soon as you hear from a debt collector, first verify all of the details to ensure they are accurate.

When a debt collector contacts you, they are legally required to provide you with certain information about the debt within five days. But do not just take their word for it — you should also “gather your own records, including information on the original creditor and your history of payments,” said NerdWallet.

You should be cautious about what you share.

Watch what you say when speaking with debt collectors, as it could work against you later. For instance, avoid offering personal financial information, including your bank account number or details on your assets, as this “might be used to collect from you through a wage garnishment, bank levy or property lien if the creditor or collector gets a judgment against you,” said Nolo.

Similarly, avoid making any promises regarding the debt. “Your acknowledgment of the obligation might revive the statute of limitations” or the length of time the creditor has to take legal action to collect the debt, said Nolo.

You should absolutely keep detailed records.

As you navigate communicating with debt collectors, make note of what is said and who you talk to, as well as the date and time of the call. This is important because it “will help you determine who’s calling you from where and what debt each collector calls about,” said Nolo. You can also “track how often a particular collector calls and document inconsistencies in what collectors say to you from one call to the next.” You will be glad to have this info in case you need to file a complaint or you end up in court.

You can tell a debt collector to stop contacting you.

While working with a debt collector can help you resolve your debt, if it feels overwhelming or you have any hesitations, you have the right to ask them to stop contacting you. You can draft a letter saying as much using one of the forms on the Consumer Financial Protection Bureau (CFPB) website, and the debt collector is obligated to comply. Just keep in mind that if the debt is yours, “stopping communication with a debt collector doesn’t make the debt go away,” said the CFPB.

You have protection against certain types of communications.

Under the Fair Debt Collection Practices Act, debt collectors cannot harass or threaten you. Prohibited behavior ranges from “repeatedly calling you at any time, day or night or before 8 a.m. or after 9 p.m.” to using “any false, deceptive or misleading representation,” said Experian. If you think a debt collector may have violated your rights, be sure to submit a complaint with the CFPB.

When summer is sweltering, there is nothing more luxurious than a swimming pool in your own backyard. But is it actually a smart investment?

Installing a swimming pool is certainly not cheap nor is it a quick and easy project. Once it’s there, it’s hard to undo, and you will need to commit to the necessary maintenance and upkeep costs. On the flip side, how nice would it be to splash around with your kids on any given day or swim laps each morning? Couldn’t it even attract potential buyers if you decide to sell someday? Here are the pros and cons to evaluate before making the splash.

How much does a swimming pool cost overall?

The cost of a pool varies hugely depending on the type you install. “On average, expect to pay $2,146 to install an above-ground pool and $49,638 for an in-ground pool,” said Citizens Bank.

Even if you feel fine about that number, keep in mind that the costs do not stop there. You will also have to cover the expense of maintaining the pool and the higher electric bills that pool pumps, filters and heaters can generate. You will most likely also deal with a higher home insurance bill for the added coverage. And if anything goes wrong, you will need to pay for that as well. For instance, a “tear in a swimming pool’s lining is a common issue encountered by pool owners,” and “repairing it can cost anywhere between $1,000 and $6,000 depending on how big the tear is,” said Kiplinger, based on data from HomeServe, a home repair administrator.

Can a swimming pool increase your home’s value?

It depends. A major influence is your home’s location and the climate there. “In some markets, especially those with warm climates, in-ground pools may add more value to the property than in colder climates where a pool would get only a few months use each year,” said Zillow.

The popularity of pools in your neighborhood also has a bearing. “If you live in a neighborhood where many of your neighbors have swimming pools, your investment is probably solid,” and “in those circumstances, not having a pool might decrease your home’s marketability,” said HGTV.

A lot comes down to your specific pool and its condition and features, too. “Older pools, especially those requiring significant repairs or updates, can drag down the overall value of the property,” said Zillow. By contrast, “homes with saltwater pools sell for 1.5% more than comparable homes without one — and they sell two days faster.”

What else should you consider to decide if a pool is worth it?

Before getting a pool, it is absolutely worth running the numbers, both to assess the total overall cost and to determine how much of your investment you may get back in resale. But money is not the only factor to ponder.

Particularly if you have young kids, pool safety is a major consideration. You will want to include at least a locked fence around the pool. This can add to the cost of the project, not to mention the stress of ownership.

It is also important to weigh your options for paying for the pool and the benefits or disadvantages of each of them. If you have significant equity in your home, you may be able to get a lower interest rate on a home equity loan or home equity line of credit (HELOC). A personal loan or credit card can also be an option, though you should be aware of the added cost of interest on those.

If you are saving for retirement with a 401(k) plan, there is a good chance you enjoy matching contributions from your employer. Those using an IRA do not have that same opportunity, however, as the retirement saving option is opened independently outside of an employer. The Saver’s Match, set to roll out in 2027, will finally give some IRA owners (and workplace savers) a chance to claim a matching contribution.

Created under the Secure 2.0 Act of 22, the Saver’s Match program will “provide income-eligible retirement savers with a matching annual contribution worth up to $1,000 for single tax filers and $2,000 for joint filers,” said CNBC. The Treasury Department will deposit these contributions directly into retirement accounts.

What is the IRA Saver’s Match?

In short, the Saver’s Match is a “government-funded contribution to an eligible retirement account,” said U.S. News & World Report. Under the program, the Treasury Department will direct deposit matching contributions into the retirement accounts of eligible account owners.

These contributions will be “equal to 50% of retirement contributions up to $2,000, for a maximum yearly match of $1,000,” said CNBC. Eligibility for matching contributions, and the amount of the contributions, is income-dependent.

Who is eligible for the Saver’s Match?

“Eligibility for the Saver’s Match is based on income: single filers with a modified adjusted gross income of $20,500 or less in 2027 (or $41,000 for joint filers) are eligible to receive a 50% match on up to $2,000 of their contributions,” said Investopedia. As income increases, the amount of matches goes down, phasing out for single filers earning between $20,500 and $35,500 ($41,000 to $71,000 for those filing jointly).

Another asterisk in eligibility is that it also matters what type of IRA you have. “Although contributions to an IRA may qualify workers for the match, any money the worker is entitled to can only go into a traditional IRA — not a Roth IRA,” said CNBC. Effectively, this “means that workers who save via a Roth” would “need a traditional account to receive the match.”

Those with workplace retirement plans, such as 401(k) plans, are also eligible for the Saver’s Match if they meet income thresholds.

How does the Saver’s Match compare to the Saver’s Credit?

The Saver’s Match is replacing the Saver’s Credit, which is a nonrefundable tax credit designed to encourage low- and middle-income savers to contribute to a retirement plan. A tax credit is designed to directly reduce the amount of taxes you owe.

The problem with the credit, however, is that it was something “low-income savers largely couldn’t use since they owe little or no taxes,” said Investopedia. With the Saver’s Match, it is not necessary to pay taxes to get the matching contribution. All you have to do is meet eligibility requirements and contribute to your retirement account.

A financial trick that uses credit card debt to make money has returned because of relatively high savings rates.

Financial conditions are now in a “sweet spot” for the strategy known as stoozing, said The Telegraph.

A “successful stoozer”, said MoneySuperMarket, effectively turns credit card debt into a short-term interest-free loan while keeping their actual money in a high-paying savings account.

The difference between the savings interest and any credit card fees is your profit. But while the concept is “relatively simple”, successful stoozing “requires careful organisation and financial discipline”.

What is stoozing?

Stoozing is a way of “manipulating 0% spending credit cards to make money”, said MoneySavingExpert.

The method means you can “maximise interest earnings”, said The Independent, by spending on a 0% interest credit card “while diverting your actual cash into high-yield savings accounts”.

How stoozing works

Stoozing involves taking out a long-term 0% spending credit card and using it for your normal daily spending, while any unspent money from your bank account – such as your wages – goes into a top savings account to earn interest.

You need to make sure you pay off the credit card bill each month. When the 0% deal is about to end, you will need to either “pay off the balance using the money from the savings account or transfer it to a new credit card with a 0% balance transfer”, said Go.Compare. Meanwhile, any interest you earn on the money in the savings account ends up as profit.

Pros and cons of stoozing

The method can be “lucrative”, said MoneySavingExpert, but it will not work if you are “not very financially organised, unsure of how it works, have a poor credit history, don’t have financial self-discipline, or have other credit card, overdraft or loan debt”.

It is a “relatively low-effort” way to earn some extra money and maximise savings interest, said Moneyfacts.

But there are risks. You could be hit with interest charges if you don’t clear the debt, said CompareTheMarket, “undoing all the good work of having your money in a savings account”.

Taking out too much debt can also have a “negative impact” on your credit score, said Money to theMasses, which may make it harder to borrow money for a “legitimate reason” such as if you need a mortgage.

Plus, you may regret “locking away your savings” if you suddenly need the money sooner than expected, as there may be penalties for early withdrawals.

Is stoozing worth it?

Stoozing “only really works”, said uSwitch, when “savings interest rates are high”.

The method can be “worth the hassle”, said Go.Compare, if you have “strong credit” as well as “discipline for timely repayments”. Stoozers also need to be able to invest borrowed funds “profitably”. It is risky if you will struggle to pay the credit card bill or “the returns are too small for the effort involved”.

There are alternatives to stoozing, such as reward or cashback cards that pay “a percentage of your money back or build points to redeem in shops”.

When it comes to a major purchase like a car, you likely want to save any money you can. Unfortunately, car-buying deals are not so easy to come by these days.

Though increases in new car prices have slowed since they shot up during the pandemic era, the “average cost of a new car remains historically high,” said Nerdwallet. “At the end of 2025, the average transaction price hit an all-time high of $50,326 according to Kelley Blue Book — and despite recent moderation, prices haven't strayed far from that peak.” And unfortunately, used cars are not that easy on the wallet either lately, especially given rising financing and car insurance costs.

But for many, a set of wheels is a necessity. If you are in the market, here are some ways you can try to trim costs.

1. Do your research

Doing your homework before you set foot in a dealership is essential. Get familiar with car models in the class you are interested in, and see what is well-rated for factors like performance, reliablity and value. Figure out what a fair price is for that vehicle using “online pricing guides, such as Kelley Blue Book, Edmunds or NADA guides, to know what price you should pay,” said Nerdwallet.

2. Get pre-approved

Equally important is getting prepared financially. “Before you start visiting dealerships, get a pre-approved financing offer,” as this will ensure that the “dealer has to offer a better deal if they want to earn your business for this part of the transaction,” said U.S. News & World Report. Be sure to shop around, too, before you settle on any one offer from an auto lender, to ensure you get the best rate.

3. Keep your eye out for incentives

“Check dealership and manufacturer websites for local and national incentives such as cash-back offers, low-rate or even 0 percent financing, and lease deals with low monthly payments, said Consumer Reports. It is not uncommon to find these sorts of offers “among less-popular offerings — such as sedans, small hatchbacks, and front-wheel-drive (as opposed to all-wheel-drive) SUVs,” said the outlet. Certain times of year to buy a car are also better than others if you are after a good deal.

4. Brush up on your negotiation tactics

Whether you are working with a car dealer or a private seller, it never hurts to ask for a better offer. One “good negotiation tip is to focus on the car’s total price,” said TaxAct. “A salesperson will sometimes try to gauge how much of a monthly payment you can afford instead of your total budget, which can lead to you spending more money than you anticipated,” especially once car ownership costs are factored in.

The trump card in a negotiation, however, is being comfortable walking away. “Just showing the willingness to get up and leave is often a powerful enough message to get the dealership staff to take notice and make you a better offer,” said U.S. News & World Report.

5. Stay flexible

Staying open about which car you get and the features it has can go a long way towards getting a better price. For instance, “note which brands have more or fewer cars in stock,” as those with more inventory will typically be more willing to negotiate, said Kiplinger (a sister site of The Week). Also consider the different trims offered in a vehicle, and which features seem like a necessity and which you are fine living without. If you feel like you need certain add-ons but the price is not matching up with your budget, “consider downsizing or shopping among models that aren’t as popular,” said Consumer Reports.

In an ideal world, you would enter your golden years debt-free. By erasing what is usually among the biggest debts anyone has, your mortgage, you would undoubtedly make the math on your monthly retirement budget much easier. But whether or not paying down that debt is feasible to do — let alone the most financially responsible move to make — is a whole other question.

The answer will depend on the specifics of your financial situation and mortgage loan. After all, the “right answer for a homeowner carrying a 2.875% mortgage, a solid brokerage account and a reliable pension looks very different from the one facing someone with a 6.5% loan heading into heavy IRA withdrawals,” said Kiplinger.

Why prioritize paying off your mortgage before retirement?

The most obvious benefit of paying off your mortgage before retirement is that you will cut a major expenditure from your budget. “Without the monthly mortgage payment, your Social Security, retirement funds, or pension will go much further, providing more funds for living expenses, hobbies, and travel,” said Investopedia.

You also stand to save a significant amount on interest, particularly if your mortgage has a high interest rate. “Depending on a home loan's size, interest rate and term, the interest can cost hundreds of thousands of dollars over the long haul,” said Charles Schwab. You can then put those funds towards other uses or invest them.

When does it not make sense to pay off your mortgage before retiring?

Even if the peace of mind a paid-off mortgage offers sounds appealing, it is not necessarily the right move financially. “Tying up too much of your savings or net worth in your home can create challenges,” if down the road you lack the liquidity to cover an emergency expense or a significant healthcare bill, said Investopedia.

It is also important to weigh the costs—both literal and opportunistic—to an early mortgage paydown. Depending on your lender, you could end up owing prepayment penalties for paying off your mortgage ahead of schedule. Or, if you have higher-interest debt, such as credit card debt, but focus on your mortgage instead, that could end up costing you more overall due to the accrual of interest.

Shifting your focus to your mortgage could also result in you putting “retirement savings on the back burner, which could come back to bite you when you stop working,” said Northwestern Mutual. And, depending on your mortgage rate and how it compares to potential investment returns, you might actually be better off investing those funds instead of putting them toward an early mortgage payoff.

What should you consider when deciding whether to pay off your mortgage?

A lot of the decision comes down to the numbers. You will want to consider, “Does your mortgage rate cost you more than what you can likely earn elsewhere? If it does, then paying it off might be better,” said Investopedia.

Additionally, you will want to determine how paying down your mortgage would affect your cash reserves. If you need to drain your savings to do so, then it might not make sense for your overall financial health.

You could have sworn you did not spend that much, but once again, you get to the end of the month, and the numbers in your bank account are not quite adding up. So, what gives? There is one easy way to get to the bottom of this mystery: expense tracking. By taking note of every time you spend throughout the month, you can more easily see where you might be overspending and where you might be able to cut back.

What are the benefits of tracking your spending?

Tracking your spending is effectively an exercise in attention. When you get into the nitty-gritty of your day-to-day expenditures, you can quickly start to see where exactly your money is going and identify patterns in your spending.

That noticing is only the first step, however — “pairing action with that attention is what really makes a difference,” said Nerdwallet. With increased awareness, perhaps you can figure out what is causing you to veer off budget each month and then make adjustments there. Or, maybe you will spot spending you did not even totally realize was happening, such as on subscriptions or other recurring purchases. Once you cut those out, you free up room in your budget to put towards building your emergency savings account, paying off debt or inching closer to your long-term financial goals.

Ultimately, “not only is tracking spending fundamental to understanding where your money is going, but it also ensures that your spending truly aligns with your goals and priorities,” said Daniel E. Milks, certified financial planner and co-founder of Fiduciary Organization, to Fortera Credit Union.

Is expense tracking the same thing as budgeting?

Expense tracking and budgeting certainly can go hand in hand, but they are not one and the same. Tracking your spending simply refers to the act of “monitoring where your money goes,” whereas “budgeting is more of a proactive approach to managing your money,” said Chase.

You can think of expense tracking as an information-gathering step, with the data you gather there informing the budget you create and adhere to.

How can you track your spending?

There are a number of ways that you can go about tracking your spending. The best option will be whichever feels easiest to you.

A “notebook or printed tracker,” for instance, can be “good for people who remember better by writing things down,” while a spreadsheet can work well for those who “like totals, categories and monthly comparisons,” said MoneyFit, a nonprofit financial education and counseling organization.

There are also a variety of budgeting apps and tools available. “For those who prefer the convenience of automation, linking checking and savings accounts to a budgeting app can often simplify the process,” said Milks to Fortera Credit Union.

Covering the cost of fertility treatment can feel like yet another hurdle in a process that is already physically and emotionally draining. Not only do you have to go through the testing and medical procedures involved, you can also end up paying tens or even hundreds of thousands of dollars.

For families who want to have kids or women who want to afford themselves a little more time, though, this can feel like a price well worth paying. But the process may necessitate some financial planning. Research can also go a long way, as insurance companies increasingly offer coverage.

How much can fertility treatments cost?

The cost of fertility treatments can vary widely depending on the specific treatment that is necessary. A “typical egg preservation cycle is about $10,000,” while a frozen embryo transfer “could total about $2,500,” said The Bump. Meanwhile, a procedure like in vitro fertilization (IVF) “could add up to a total of $13,000 to $14,000.” Opting for a surrogate, meanwhile, can run anywhere from $80,000 to $100,000.

There is also the reality that a fertility treatment is not always a one-time thing. In fact, “most people will need more than one cycle to achieve pregnancy,” said The Wall Street Journal.

Can insurance help cover fertility treatments?

Over the past decade, “more companies have already stepped up to help employees,” said Jaime Knopman, a reproductive endocrinologist for CCRM Fertility of New York, to the Journal. Now, said the outlet, “more than 40% of companies offer overall fertility benefits, according to a 2024 survey of employee benefits plans from the International Foundation of Employee Benefit Plans.”

Still, this does not mean you will get full coverage, and certain parts of the treatment process may not be covered. For example, “your plan may cover fertility medications, but only those of a specific brand. Or it may cover routine lab work, but only at designated labs,” said Discover. This makes it absolutely vital to do in-depth research and ask questions.

If your company does not offer coverage, it could be worth asking HR. “Some patients even successfully lobbied their human-resources departments to change a company’s policies and benefits plans,” said the Journal.

What are other options for covering the cost of treatments?

There are options besides your own bank account or insurance for helping to cover the cost of fertility treatments. Some alternatives include:

FSA or HSA funds: Flexible spending accounts, or FSAs, and health savings accounts, or HSAs, “may be used to help pay for IVF and other fertility treatments,” said First Citizens Bank.

Provider payment plans or financial assistance: Your doctor “may offer a payment plan, discounts for uninsured patients or even a shared-risk program,” said Discover.

Nonprofits and charities: There are many “national and local nonprofit organizations that support fertility treatments and related costs,” said Discover. They may have eligibility requirements, however, as some are “established to assist with specific types of patients, while many include income thresholds.”

While everything from algebra to essay writing may have been covered in school, a subject area often left off the curriculum is personal finance. Unfortunately, most people are far more likely to run into questions of budgeting and investing than, say, calculating the area of a triangle (some professions aside).

The good news: It is never too late to play catch-up. And with these personal finance books, doing so does not have to feel like homework.

‘Get Good with Money: Ten Simple Steps to Becoming Financially Whole’ by Tiffany Aliche

This book by financial educator Tiffany Aliche, aka “The Budgetnista,” offers a breakdown of financial foundations and daily money habits. Perhaps unsurprisingly, given her moniker, the book helps with establishing a baseline budget, but it also offers guidance on other staples like saving, investing, insurance coverage, credit scores and more. Ultimately, Aliche succeeds in presenting an “ethos of financial wholeness that rejects the unnecessary complexity and unrealistic nature of traditional financial advice,” said U.S. News & World Report.

‘Your Money or Your Life’ by Joe Dominguez and Vicki Robin

This book encourages readers to get clear about their personal values around money. “The simple premise: How much money are you willing to trade your life for? Whenever you’re working, you’re trading your life and energy for money. What does that mean to you?” said Grant Sabatier, a personal finance blogger, to The Strategist. The idea is that “once you’re clear on the ‘why’ behind your saving and spending, making decisions about investing and budgeting becomes much easier,” said the outlet.

‘The Intelligent Investor’ by Benjamin Graham and Jason Zweig

Once your budget and debts are ironed out, you are in a good place to start investing, a practice foundational to building wealth. This book was originally published in 1949, though it has since been updated and now remains a classic for a reason. It provides a guide to “investing for individuals looking to develop sensible strategies and protect their investments,” said GOBankingRates. Business magnate Warren Buffett has called it “by far the best book about investing ever written.”

‘The Psychology of Money’ by Morgan Housel

The “biggest impediment for most people building wealth is their emotional decisions that get in the way of doing what should provide the greatest outcomes,” said Mitchell Kraus, a financial planner with Capital Intelligence, to The Wall Street Journal. This book helps readers learn the signs of those pitfalls so they can better steer clear of them. Think of it less as a how-to guide and more as a psychological unpacking and broader money mindset shift.

‘Broke Millennial: Stop Scraping By and Get Your Financial Life Together’ by Erin Lowry

This book is for the millennials out there (though there is a good chance other generations may relate — looking at you, Gen Z). It is “aimed at 20- and 30-somethings who are dealing with both paying off debt and beginning to plan for the future,” said The Strategist. There are chapters on everything from navigating the decision of whether to move back in with your parents to making preparations for retirement.

Weddings, and the amount they cost, can run the gamut from a small, DIY ceremony in the backyard to a massive bash that shuts down Madison Square Garden. Obviously, the latter may only be within reach for certain pop stars and their football-playing partners, but that still leaves a wide range for how much you and your soon-to-be spouse could potentially spend.

When making the determination, it is important to weigh two things: making your big day a special one and honoring your financial reality. Your wedding may mark the start of your next chapter, but your finances are what will largely shape your future as a married couple.

What is a typical wedding budget?

As a benchmark, the average wedding costs $34,200, said wedding planning website The Knot, based on findings from its 2026 Real Weddings Study. You can expect the bulk of that to go toward your venue and any necessary rentals, such as tableware and tables themselves, as well as catering and drinks. But there are countless other small costs that can quickly add up: cake, photographer, flowers and decor, music, outfits, rings, wedding planner.

How can you determine how much is right for you to spend?

How much you “should budget for a wedding depends on your financial situation,” said NerdWallet. While this may seem obvious, it is easy to get carried away with a grand vision when you sit down to start planning. Consider what savings you and your partner have set aside for the wedding, how much of your upcoming earnings you can set aside and whether you are getting any outside financial help, such as from your parents.

It is also important to put your wedding in context with your other financial goals. “Zoom out and identify short- and long-term financial goals you have individually and as a couple,” said Charles Schwab, whether that is paying off student loans, buying a house or retiring early. Figure out how you would “prioritize them in order of most importance and allocate your resources appropriately,” keeping in mind that “ideally, your wedding spend shouldn’t get in the way of other financial goals.”

How can you make an effective wedding budget?

One of the first steps in making a wedding budget is to “sit down and have open and honest discussions about what your must-haves are, and what you’re comfortable leaving off as you build your budget,” said Minted, a wedding stationery brand. This will give you a guiding vision as you start allocating available funds.

As you build the budget, do not forget to leave some wiggle room ahead of your absolute maximum, which you should also make sure to set and agree to honor. “Even the best planners who budget early on might forget to add items or will inevitably have things they need to add on,” said Andrew Westlin, a certified financial planner at Betterment, to The Knot. This could include anything from add-on service charges to a last-minute rain tent to extra time on the dance floor.