Your house may have seemed just right for you when you bought it. But over the years, your situation can change. Perhaps you had a kid or started working from home full-time. Maybe one-and-a-half baths and a smaller kitchen did not feel restrictive when you made the purchase, and now it does.

In this situation, you are faced with two options: renovate your home for your current wants and needs, or move. While staying put may seem like the simpler option, it “isn’t always the easier or cheaper path,” said Realtor.com. Then again, relocating is also an undertaking in and of itself, even if it is just a few streets over.

When does renovating make sense?

The “biggest reason to put the time and effort into renovating or expanding your home is its location,” said U.S. News & World Report. If you are attached to the area where your home is, whether because of your kids’ school, nearby neighbors or favorite shops, it can make sense to commit.

For homeowners with “strong equity and a solid mortgage, remodeling can be a savvy way to level up your living space without resetting your entire financial picture,” said Realtor.com. There are improvements you can make that boost livability and enjoyment now, with some even pushing up resale value later, too.

When is moving a better choice?

It’s “easy to think that a remodel will solve everything you don’t like about your home, but in reality, it’s not a magic bullet,” said Zillow. The truth is, “there are some things that a renovation just can’t fix, like having loud neighbors, an unfavorable school district, more or less square footage or the type of home you’re living in.” In these cases, moving will likely be a better use of your time and money.

While a whole new house may sound like a much bigger-ticket item, in some scenarios, it is still the more financially sound option. “If the desired renovation project exceeds $100,000 to $150,000, it starts to make more financial sense to move, especially when factoring in time, stress and lifestyle disruption,” said real estate agent Mike Toltzis to U.S. News & World Report.

What should you take into account when making the decision?

When weighing whether to renovate or relocate, consider the following factors:

Cost: Cost is a major component of this decision. Even if a renovation looks cheaper on paper, it “isn’t always a value-adding slam dunk, especially if your home is already priced near the top of the market,” said Realtor.com. For moving, look at more than just the sale price — also factor in moving costs, realtor commissions and perhaps a larger mortgage payment if your next house is bigger.

Timeline: Buyers “often underestimate the cost and time involved in remodeling,” said realtor Ashley DeHart to NerdWallet. But a “real estate agent can help weigh these factors against the convenience and potential savings of buying a move-in-ready home.”

Current real estate market: If you’re in a “down market and can’t get the price you want or need out of your home to move to a better property or neighborhood, it might make more sense to renovate,” said U.S. News & World Report. In a competitive market, it can be smarter to “sell your home while prices are high and homes are in strong demand.”

Long-term plans: “Will this home still serve your needs in five or 10 years? Or are you stretching it to fit a life it’s already outgrown?” said Realtor.com. You will also want to ask yourself whether you are renovating “because you love your home — or because you’re avoiding a harder decision.”

You vowed till death do us part at the altar — but does that have to extend to your money, too? Not necessarily.

Increasingly, many married couples are opting to keep their finances separate, at least to some extent. “Between 1996 and 2023, the share of married homeowners with financial assets who held at least one joint account, such as a checking or savings account, dropped from 85% to 77%,” said The Washington Post, citing Census Bureau data. Instead, “couples are opting for individual accounts alongside or instead of shared ones.”

There are definite pros to this approach. But there are also downsides, and couples should consider both before deciding to go financially solo.

Pro: provides greater financial independence and protection

Perhaps one of the biggest reasons couples decide to keep separate accounts is to maintain some sense of independence — and in the case of divorce, to have an easier path out. Having a separate account as an “emergency fund” allows you to “protect yourself if your relationship turns sour,” said U.S. Bank. It also ensures that you avoid a “common scenario where a partner legally drains a joint account without the other’s knowledge.”

Con: detracts from financial alignment and transparency

As the saying goes, teamwork makes the dream work, and merging finances can encourage that. “Instead of keeping a running tally of who spent what or operating their married lives like they are college roommates,” couples who share accounts “tend to focus on their collective needs, supporting one another without worrying about an immediate or equal payback,” said the Post. Plus, shared ownership ensures that both partners are aware of and have access to the full financial picture.

Pro: minimizes conflicts over spending

“Nobody wants to scold or nag, but it’s hard to hold your tongue when your significant other is a spendthrift — or its opposite, a penny-pincher,” said TIAA. While at least some level of financial alignment is integral to a marriage, separate accounts give both spouses a bit more breathing room when it comes to discretionary purchases.

Con: makes covering bills and expenses more complicated

When there is just one pool of money to tap for costs of living, it is straightforward to simply hit “pay.” But when the funds are divided between different accounts, it takes more figuring out. While certainly possible to navigate, couples with separate accounts will “need a system for splitting monthly bills, whether through regular transfers, payment apps or rotating responsibility,” said SoFi.

Pro: keeps separate debts separate

If you “wind up merging all your finances — credit cards, too — you could be on the hook for your partner’s spending habits,” said Bankrate. This may leave your hard-earned money on the line, not to mention it can impact your credit score, if your spouse falls behind on making debt payments. A separate account will shield you from that liability.

Con: makes money more difficult to access in an emergency

With a joint account, “by having each of you listed as an authorized account holder, you won’t need to jump through any hoops to access your money if the other is unavailable,” said Bankrate. However, when your accounts are all separate, “if one partner becomes incapacitated, the other may struggle to access needed funds,” said SoFi.

If you are living on a tight budget, going on vacation may seem totally out of reach. But you may just need to adjust your sense of scale. Rather than taking a week or more off work and trying to cover lodging, food and everything else for that entire time, consider stepping away for just a few days instead.

Known as a microvacation, such smaller-scale trips can be easier both logistically and financially — and they can still be plenty of fun. “One in five Gen Zers (21%) plan to take shorter trips in 2026 than in past years,” with one of the top reasons — cited by 37% of survey respondents — being the “spontaneity,” said Bank of America’s 2026 Summer Travel Outlook, per Investopedia.

What is a microvacation (or microcation)?

The defining feature of a microvacation, also referred to as a microcation, is its length. A microvacation “usually lasts one to four days,” said Kiplinger, and it “doesn’t require long flights, complicated itineraries or a big chunk of time off work.”

Often, a microvacation does not entail traveling to a far-flung location but rather sticking closer to home, with many opting for somewhere just a short drive away, given the condensed timeframe. But some travelers view the expedited timeline as a way to tick off places on their bucket list that much faster — in essence, they are “questioning the idea of saving all pleasure for one annual holiday, instead using shorter breaks to see more of the world in manageable, repeatable doses,” said the BBC.

Why are people opting for shorter trips instead?

For starters, “compared with weeklong vacations, microvacations can be cheaper, fit into a work schedule more easily and are simpler to plan,” said Investopedia. Beyond that, “some are inspired by the idea of stretching limited paid time off; others look to game loyalty points for quick trips to, say, Barcelona and London; and some are simply drawn to the challenge,” said The New York Times, noting the trend of “microvacationers posting about their itineraries on social media.”

While you may wonder how effectively you can really experience a place in just a handful of days, some microcation proponents argue the opposite. With fewer days, “each day is more impactful — you’re really in the moment, and you have more [money] to spend on what matters,” said microvacationer Sarah Pardi to the BBC.

How can you start planning a microcation?

When planning a microvacation, one of the best places to start is by determining why you want to take one. Consider “what you actually need right now: rest, connection, fun or simply a change of scenery,” said Kiplinger.

With that in mind, you can start preparing — but make sure not to get carried away. Microvacationers should “aim to anchor their trips to a single experience,” ensuring you aren’t trying to “cover too much ground in the limited time you have” and that you “don’t overplan,” said Laurel Greatrix, the chief communications officer for Tripadvisor Group, to the Times. After all, you do not want to spend a large chunk of your short time away in transit from one place to the next.

For many people, taxes come due just once a year. But for others, it is necessary to make payments every quarter alongside the requisite filing due April 15.

Known as quarterly estimated tax payments, these are “taxes paid to the IRS throughout the year on earnings that are not subject to federal tax withholding,” said NerdWallet. Failing to make quarterly estimated tax payments when you owe them can result in a penalty, which is why it is important to know whether this applies to you. Here are the common situations in which quarterly taxes are owed.

People who do not have enough withheld

The general rule of thumb for owing quarterly estimated taxes is if “you’ll owe $1,000 or more in federal income taxes this year, even after accounting for your withholding and refundable credits,” said NerdWallet. You will also need to pay them if “your withholding and refundable credits will cover less than 90% of your tax liability for this year, or 100% of your liability last year, whichever is smaller.” That threshold increases to 110% for those with incomes over a certain amount.

This situation could apply even to those whose employers withhold a portion of their income if not enough is held back to fully cover the tax owed. The amount of money that is withheld largely depends on the information employees provide on their W-4 form.

Those who are self-employed or earn business income

Taxes “typically aren’t withheld from self-employment income, so if you do any freelance, consulting or gig work, you should either pay quarterly income taxes or increase your withholding on other types of income to cover the shortfall,” said U.S. News & World Report.

If you own a small business, you should also anticipate needing to make these payments. “Individuals, including sole proprietors, partners and shareholders of S corporations, must make estimated tax payments on business ownership earnings if the total tax on built-in gains, excess net passive income tax and investment credit recapture tax is $1,000 or more,” said Investopedia.

Investors who realize large capital gains or receive other investment income

Capital gains, which occur when you sell an investment for a profit, can result in owing quarterly tax payments. “Any realized capital gains that can’t be offset by exclusions or capital losses are generally taxable and can be a trigger for making quarterly tax payments,” said Natalie Taylor, a certified financial planner and behavioral financial advisor in Santa Barbara, California, per U.S. News & World Report.

Other types of investment income can similarly trigger estimated taxes. This may include dividend and interest income, and rental income for landlords with rental properties.

Individuals who have made taxable retirement withdrawals

If you’ve been “saving in a tax-deferred retirement account, like a traditional IRA, and you make taxable withdrawals,” you can also end up owing quarterly taxes, said U.S. News & World Report. The same applies “if you earn enough income while on Social Security.”

You can, however, avoid making quarterly estimated tax payments in this case if you request that enough to cover taxes gets withheld from either your retirement account withdrawal or Social Security benefits.

The rate of inflation slowed in April despite concerns about the impact of the Iran war and oil shortages on household bills, but this dip may be only temporary.

Data from the Office for National Statistics (ONS) shows the Consumer Prices Index (CPI) was 2.8% in April, down from 3.3% in March. The lower energy price cap introduced in April “helped soften the sharp rise in fuel costs since the start of the Iran war”, said The Guardian.

But the fall is expected to be “short-lived”, said CNBC, as the “economic implications of the Iran war materialise”.

It comes as the government announced that fuel duty will be frozen for a further four months until January 2027. Chancellor Rachel Reeves has laid out extra measures for low-income households to help mitigate the worst of the cost-of-living crisis.

What is inflation?

Inflation measures the changing price of goods and services. It is based on the CPI, which tracks a basket of goods, such as food, energy bills and transport costs, monitored by the ONS.

To see inflation in action, said MoneyHelper, “think about what you could buy with £1 over the past few decades”. A higher inflation rate means you can buy “less this year than you could last year for the same amount of money”.

At 2.8%, the inflation figure is above the Bank of England’s target of 2%, but is “well below” the 11.1% figure reached in October 2022, said the BBC.

Will inflation ever come down?

The latest drop in the rate of inflation was “more substantial than anticipated”, said The Independent, but the ongoing Middle East conflict “could soon reverse this progress”.

The reduction in the energy price cap in April was a “key driver” in the latest figures, said Financial Reporter, but “rising global energy costs” are likely to feed through into a higher Ofgem price cap from 1 July, which would push inflation higher.

It comes as Iran’s continued closure of the Strait of Hormuz means “more than half” of the normal oil supply is not getting through. Unless “something changes”, said Kiplinger, this means gas, fuel and food prices will “start rising in the future”. This can push up the rate of inflation.

Oil markets have been “heavily disrupted due to the Iran war”, said MoneyWeek. The commodity is used in the manufacturing of “a significant portion” of everyday items such as plastic, crayons, shoes, backpacks, iPhones, pillows and much more.

This “simple answer” to the question of whether inflation will come down, said Big Issue, is “probably never” and “almost certainly not by very much”.

Inflation still means prices are rising. The rate would have to be negative for prices to actually fall – known as deflation. This can “actually be a quite a bad thing”, as it means the economy is stagnant. In the past, this has been used as “political cover for austerity”.

The Bank of England has the power to “lift or lower interest rates”, said the BBC, to change how households and businesses use their money and control inflation.

But many of the “current pressures” on inflation are coming from outside the UK, meaning the cost of living is “widely expected to rise from here”.

When you have questions, AI is an easy place to turn for immediate answers. People are increasingly leveraging the variety of artificial intelligence platforms available for guidance in an area that can often feel complicated and confusing to navigate alone: personal finance.

As of early 2026, “more than 55% of Americans reported using AI to help with financial management decisions,” said CBS News. This can range from asking questions around homebuying to soliciting advice on investing and retirement savings strategies. However, while this practice may be convenient and in many cases useful, it is still essential to remember the cardinal rule of sensitive financial and personal information: Be cautious about what you share and where.

What are the risks of oversharing with AI?

A Stanford study examining the “privacy policies of six major AI companies — Amazon, Anthropic, Google, Meta, Microsoft and OpenAI — found that all six use chat data by default to train their models, and some keep this information indefinitely,” said The Washington Post. Based on this finding, the researchers issued a “cryptic warning,” suggesting that “either by design or negligence, your data could be exploited.”

Not only is the information living in these systems, but a “subset of conversations are sampled and reviewed by OpenAI and Google employees for quality improvement,” said Ramayya Krishnan, a professor of management science and information systems at Carnegie Mellon University, to Money. Additionally, there is always the risk that your AI account may become compromised. If a bad actor gains access and you had shared sensitive information, that “could empty a bank account or lead to identity theft,” said the Post.

What specific financial information should you avoid sharing with AI?

Given the risks, if you are consulting AI for financial guidance, steer clear of divulging the following:

• Your name, address and date of birth
• Social Security numbers
• Bank and investment account numbers
• Usernames and passwords
• Employment information
• Exact numbers, such as for your spending, debts or account balances
• Detailed financial documents, such as tax returns, investment account statements or paychecks

What is safe to share with AI for financial help?

Just because there are certain things you should not share with AI, that does not mean you cannot effectively leverage AI for guidance in your financial life. As a rule, “always treat AI chats as public-facing logs, avoid sharing any personally identifiable or financial details and verify critical advice with human professionals,” said Investopedia.

While you may tend to think the more an AI knows, the better support it can provide, the reality is that an AI chatbot “does not need your account number to tell you how to pay down debt, nor does it need your Social Security estimated earnings statement to recommend when to start collecting your retirement benefit,” said the Post. Instead, you can plug in more general questions that you can apply back to your own situation, or even give the AI ranges for figures like your salary or debt, rather than hard numbers, and still get similarly salient tips.

Lastly, keep in mind that the “bots are far from perfect: AI models often make factual errors, stumble when processing current events and oversimplify financial processes,” said Money. So take the advice with a grain of salt.

Sometimes one is just not enough. That is the conclusion many people are drawing when it comes to their sources of income amid ever-increasing economic uncertainty. In a growing trend known as income stacking particularly popular among Gen Z, people are picking up multiple jobs to ensure they can continue to make ends meet and live comfortably.

What is income stacking?

It’s the practice of “taking on multiple jobs to build financial security” through a “side hustle or freelance work on top of a full-time job, or several part-time roles,” said CNBC. One 35-year-old, for example, is “working two jobs — as an usher at an event space and a receptionist at the student center — while finishing her computer engineering studies at the University of the District of Columbia,” said CNBC.

Why is it becoming more popular?

This practice is not necessarily new, especially for younger people just starting out in their careers. But it is becoming more common, partially due to the rising costs of living. It is also happening because “Gen Z isn’t buying into what they see as a broken social contract, where a linear path up the career ladder is the most reliable route to success and financial stability,” said Fast Company.

Social media is additionally contributing. For the younger generations, “freelance employment has been modeled in the form of influencers, content creators and podcasters online,” said Fast Company.

What are the benefits?

The most obvious benefit is the extra money it provides. This can give savers some wiggle room in their budget to cover basic living costs or fund extras. It can also provide a safety net in the event of job loss, with an alternative income source to fall back on.

Used strategically, extra income can help with building wealth. “Extra income could go toward a brokerage account, retirement savings or paying off the student loans that have been dragging you down financially,” said NerdWallet.

As a bonus, juggling multiple jobs can offer a shortcut to building skills and job experience, which can translate into further opportunities down the road. For example, “thrift store arbitrage is a lesson in customer communication, pricing strategy, logistics, cash-flow management and marketing — talents any savvy business would appreciate in a workforce,” said Utah Business.

How can you decide if the practice is right for you?

The biggest consideration is whether you realistically have the time and energy. You might first “consider taking steps like having a career conversation with your boss or maximizing the money you put into a health savings account,” said Vered Frank, a CFP in New York City, to NerdWallet. The former option could allow you to eventually earn more without putting in more hours, while the latter would let you make better use of the funds you are already bringing in.

If you do pursue income stacking, make sure you understand what your added job will entail and why you want to take it on. “It’s easier to make income stacking work when you have a clear goal and timeframe in mind,” said Samantha Mockford, a CFP with San Francisco-based firm Citrine Capital, to NerdWallet. “You may hate sacrificing sleep when you drive rideshare in the evenings, but it may be tolerable if it means being debt-free before the year ends.”

Summer: the season of sunshine, swimming pools, barbecues and a bracingly high electric bill. As temperatures rise and humidity increases, running the air conditioning can become a necessity for some households — and not a cheap one. This year, that bill could get even higher.

The “average seasonal cost for electricity, covering June through September, is projected to be 8.5% higher this year, rising to $778,” said the National Energy Assistance Directors Association in a recent forecast, per The New York Times. Those increases are likely to be felt disproportionately by southern states, with Texas and Oklahoma “expected to see an 11.5% jump to $924,” said the outlet.

While there is not much consumers can do about the primary drivers of these price hikes — namely, “utility grid updates and demand from new data centers that power artificial intelligence, as well as increased use in the summer because of higher temperatures,” said the Times — there are steps people can take to make their bills at least a little more manageable. Here are three.

1. Stay on top of system maintenance

Keeping your air conditioner running as efficiently as possible can go a long way toward better electric bills. Regularly changing air filters is key here, as any blockages can stress the system, causing it to work harder and use more energy.

In general, “air filters should be replaced every two to three months but may require more frequent attention if your air conditioner is used consistently, in a dusty environment or if you have pets in the home,” said Rob Munin of Johnson Controls, a technology and energy company, to Better Homes & Gardens.

2. Minimize sunlight exposure indoors

Just like a “car parked in the sun on a hot day, your home can heat up if you don’t close your blinds while you’re away,” said Matt Malinowski, the building program director at the American Council for an Energy-Efficient Economy, to CNBC Make It. Before your house starts cooking, look for some easy ways to minimize direct sunlight.

This can include “using indoor plants to create shade, keeping your curtains closed to block out the sunlight during the day and investing in reflective blinds or UV-reflective film for windows,” said CBS News. You might also consider outdoor additions, like “extending roof eaves or adding a trellis or awning to shade windows,” or “planting trees on the south and west sides of your house,” said Better Homes & Gardens.

3. Consider a thermostat upgrade (or adjustment)

You will pay a little bit for a smart thermostat up-front, but over the long run, having one could end up saving you. That is because “smart thermostats can ‘do the work for you’ by programming to turn on and off based on your schedule,” said Piero Caballero, the senior product manager at Johnson Controls, to CNBC Make It.

Of course, you can always adjust the thermostat yourself, especially when you leave the house. “In states with high summer temperatures, the energy directors association recommends keeping your thermostat at 70 to 78 degrees Fahrenheit when people are home and at 78 when the house is empty,” said the Times. Even a slight temperature change can make a difference, given “every degree of increase between those temperatures saves about 3% on your electric bill.”

Between inflation and gas prices, the cost of living can feel hard to keep up with. Add the rapidly rising costs of homeownership to the equation, and it is no surprise that some people are falling behind.

In the first quarter of 2026, “U.S. foreclosure filings hit a six-year high,” said The Wall Street Journal, citing property-data provider Attom. The “number of U.S. properties with a foreclosure filing rose to almost 119,000,” a “26% jump from the same period a year earlier.” The culprit? “Fast-rising homeownership costs such as property tax and insurance bills.”

If you are finding yourself in a financial bind or worry one is just one unexpected expense away, here is what to know.

What happens in foreclosure?

Foreclosure is the consequence of not making mortgage payments. After a prolonged period of non-payment, a mortgage lender will repossess, or foreclose, on a home to recoup their losses.

This does not just happen overnight, however, and homeowners will have a heads-up. Before anything happens, the lender will let a borrower know there is a risk of foreclosure, usually after the loan enters default, which occurs after “three to six missed mortgage payments,” said Bankrate. This alert “marks the beginning of the preforeclosure process, but the borrower still has time and options to avoid losing their home,” said Rocket Mortgage.

At this juncture, the borrower and lender can work together to find a solution. But if this does not happen, the process of foreclosure can move forward. In that case, “your lender will file a notice of sale” and “your home will be placed up for auction at a specified time and place,” said Bankrate. After your home is sold, “you’ll generally have a few days to gather your belongings and move to a new residence,” or face eviction.

What are the impacts of foreclosure?

Foreclosure carries some heavy consequences. For one, you will lose your home, which served as collateral, backing the mortgage loan you took out and were unable to repay as promised. “Not only will you lose your place to live, but you’ll also lose the money and effort you put into it,” said Bankrate.

Then there is the effect on your credit. “Like bankruptcy, foreclosure has one of the most serious negative impacts on your credit,” and it will remain on your credit report for seven years, said Experian.

Additionally, “depending on your state’s laws, you may owe money if your home sells at the foreclosure auction for less than you owe,” a gap known as a “deficiency,” said Bankrate. If you are unable to pay any deficiency, “you may be sued, face wage garnishment and more.”

How can you avoid foreclosure?

Thankfully, there are some steps you can take to avoid the nightmare that is foreclosure.

Proactively communicate with your lender. “As soon as you think you’ll have trouble making your monthly payment (or shortly after you fall behind), call your mortgage servicer,” said Nolo. They can walk you through your options before it is too late, whether that is working out a repayment plan or modifying your existing loan.

Get help from a housing counselor. A housing counselor can help you determine what your options are and how to access them. “You can contact a local HUD housing counselor or dial the HOPE hotline at (888) 995-HOPE to connect with a housing expert for 24/7 help,” said Bankrate.

Apply for forbearance. If you fell behind due to a passing financial crisis, a forbearance “offers temporary relief — usually via a payment pause or reduction — to help you get your finances in better shape,” said Yahoo Finance.

Consider a deed-in-lieu of foreclosure. “If you can’t catch up on your mortgage payments or don’t qualify for any options to prevent foreclosure, you may want to consider signing a deed instead of foreclosure, where you can hand over the property to the lender voluntarily,” said Rocket Mortgage. This won’t allow you to hold onto your home, but you will “avoid some repercussions of foreclosure.”

Older people are becoming increasingly vulnerable to scams, and the latest target appears to be inheritance tax.

From April 2027, pensions are to be used in inheritance calculations, but criminals are attempting to “exploit people’s concerns” by inventing fake scams claiming a person’s retirement savings can be invested abroad instead, said The Guardian.

The impact of scams is “often emotional as well as financial”, said Age UK. In terms of the financial cost, research by VirginMedia 02 found that over-65s falling victim to such fraud lose £831 on average.

Scammers are often “emotionally manipulating” their victims, said StopThinkFraud, before they steal money or personal data. But you can protect yourself or encourage your family members to be careful by “staying vigilant and always taking a moment to stop, think and check” the source of the information.

‘Grandparent’ scams

One of the “most common scams”, said The Mirror, is where criminals pose as a grandchild or close relative. In instances like these, the scammer claims to have a new number and says they are in trouble, all in the “hope of being sent money”.

A major red flag is that scammers often request to be paid “through gift cards or wire transfers” so victims “have no way to ever recover their money”, said the National Council on Aging. This scam is seen as particularly effective “because it exploits people’s emotions”.

Authorised push payment fraud

Victims can “lose their life savings in a matter of seconds” from authorised push payment (APP) fraud, said Age UK.

This involves scammers pretending to be the police, a government department or your bank and “tricking people into transferring money” to an account under their control.

This type of scam is “more attractive” to criminals because they can “quickly take the money and run”, said FICO.

Romance scams

Romance scams involve fraudsters setting up a fake profile to steal money. Scammers lure in their victims with the promise of a genuine relationship, gaining trust before requesting funds.

Victims aged between 75 and 84 lost £9,054 on average in 2024 from romance scams, said Lloyds Bank, 52% more than all other age groups.

Scammers often target older people, said the Daily Express, who are seen as “less tech savvy and more likely to be keen to forge a new relationship”.

Modelling scams

A “new twist on a well-known scam”, said the BBC, is fake modelling agencies aimed at older people who may be searching for opportunities in retirement, or to branch out with a side hustle.

These “phoney modelling agencies” have been taking cash from “desperate” young people for years, and scammers have “found a new target” – older people.

AI scams

National Trading Standards has warned of a “new and advanced” phone scam that uses artificial intelligence (AI) to clone voices, said Which?.

It appears to be targeting older people, using the “ruse of a ‘lifestyle survey’ cold call”. The survey responses given are used to create “AI-generated voice clones” to then start direct debits “without your knowledge”.

How to protect yourself from scams

Scams can often be “sophisticated” and therefore “difficult to spot”, said the Financial Conduct Authority. But there are “warning signs” to look out for.

You can protect yourself by “treating all unexpected calls, emails and text messages with caution”, and check the FCA register online to see if a firm asking about financial products is regulated.

If you think you have been scammed, “act quickly to help limit the damage”, said MoneyHelper. Contact your bank or card provider “immediately” using their official phone number, and stop any further payments “straight away”.

Those who are targeted can also highlight the matter to Report Fraud.

You finally found the right house to make an offer on — only to discover you’re not the only one. If you are competing against one or more prospective buyers for the same house, you have ended up in what is known as a bidding war.

A set-up like this obviously puts the seller at a major advantage, as they have their pick when it comes to offers. As a buyer in the running, putting up more money is likely going to be key, but it is not the only factor that will lead to landing the house.

How does a bidding war work?

Bidding wars are “common when housing supply is low and buyer demand is high — often referred to as a seller’s market,” said Zillow. This scenario, with more buyers than there are houses, leads to multiple buyers making an offer on the same house.

Once they learn they are not the only one in the running, homebuyers will “go back and forth adjusting their offers to make them more appealing to the seller,” said Chase.

This usually means pushing up the purchase price of the home, with offers in a bidding war going above the asking price. But there are also other ways buyers can sweeten the deal, like making an earnest money deposit, limiting contingencies or trying to accommodate the seller’s preferred closing timeline.

How can you improve your odds of winning a bidding war?

Sellers are typically looking for the highest price they can get, particularly when a bidding war over their property emerges. “However, since potential buyers have no idea what other offers may be submitted, they can include escalation clauses,” which effectively “indicate that they are willing to bid higher if needed,” up to a specified ceiling, said U.S. News & World Report. You can also increase the amount of your earnest money deposit to demonstrate your seriousness as a buyer.

The amount you put up is not all that matters — how you are paying can also make a difference. For instance, “bidding with a cash offer may provide an edge over higher bids that require financing,” since cash offers “aren’t contingent on a lender approving a mortgage so they give the seller confidence that the deal will close,” said U.S. News & World Report. If you are not in a position to make a cash offer, it is important to have all of your ducks in a row with financing — namely, mortgage preapproval.

Sellers may additionally be assuaged by having greater certainty a deal will actually go through, which is why limiting or waiving contingencies, such as for a home inspection or appraisal, can boost your odds. Just make sure to think twice before doing this, as it can expose you to more risk.

Lastly, keep in mind how much flexibility can work to your advantage. For example, a “seller might be moving across the country for work and need to close by a specific date,” said SoFi. “So if you can get the appraisal and inspection done swiftly, that could be a huge plus.”

When should you walk away from a bidding war?

Buying a house is already an emotional process, and once the element of competition enters the equation, it can be easy to get carried away. But the reality is that “you don’t want to overextend yourself financially and can continue looking for a home you can afford,” said Rocket Mortgage.

If a home is moving out of your budget, or if you are taking on more risk than you are reasonably willing to stomach, it may be better to move onto the next house. There is bound to be another you will feel excited about.

Sure, you may know that being annoyed costs you mentally and emotionally. It could be costing you financially as well.

The so-called annoyance economy refers to the web of spam calls, customer service chatbots and impossible-to-cancel subscriptions, among other aggravations, that Americans have to navigate in their regular financial lives, whether it’s to rebook a canceled flight or to stop paying for a service they are no longer using. All these small tasks, and the time and headaches they can involve, add up to a real financial cost.

What’s the annoyance economy?

To boil it down, it includes the “everyday interactions that should be simple but often turn into fraught ordeals,” said a report from Neale Mahoney, a Stanford economist, and Chad Maisel, a policy fellow at Groundwork Collaborative, per The New York Times. Common examples of these interactions include customer service calls, spam calls and texts, wait times, junk fees and health insurance paperwork.

Take this relatable scenario: “You call your insurance company about a nixed claim, get routed through a phone tree, wait 40 minutes, explain your problem to a chatbot that can’t help, then start over with a human agent who asks for the same information. By the time you hang up, you’ve burned an hour on what should’ve been a two-minute fix — and you might have to call again,” said Investopedia. Repeated over the course of the year, this constitutes the overall framework of annoyances that is costing Americans big, both in money and time.

How can it impact your bottom line?

Per one estimate, the “accumulated cost” of the annoyance economy “adds up to $165 billion a year in lost time and wasted money for American families,” said the report. Some of its costs are a little less quantifiable, such as “delaying needed medical care because of overwhelming paperwork,” said The New Republic.

The annoyance economy’s impact can be starker for those surviving on tighter budgets. For families “living paycheck to paycheck, the burden of excessive overdraft fees,” for example, can “add up and mean the difference between affording enough to eat or not,” said The New Republic. For others who “fall through the cracks of the complex healthcare system, it can mean tens of thousands of dollars in unexpected medical bills.”

Is it possible to avoid falling victim to it?

While it may be tough to opt out entirely, there are steps you can take to mitigate the impact. For one, pay attention to junk fees. Often, these fees are designed to slip by unnoticed, but you can save by keeping an eye out. When a “charge doesn’t match an advertised price, contest it” by filing a complaint with the FTC, said Investopedia.

Also, know your rights when canceling. “Several states now require businesses to make canceling as easy as signing up,” said Investopedia. So if the process seems tougher than it should be, document and report it.

Finally, be proactive about blocking spam. Cut down on fielding pesky calls and texts by exploring options to block them. You can register your number at DoNotCall.gov, and some carriers also offer tools for filtering calls.

Pressure is growing to give people living together more rights so that they share the same benefits as married couples.

The makeup of UK households has changed over the past decade, with the latest data from the Office for National Statistics showing the number of cohabiting-couple families in 2025 was 3.5 million, up from 3.2 million in 2024. This makes up 17% of households. In contrast, married couples accounted for 65.3% of families in 2025, or 13 million, down from 66% in 2015.

This trajectory is “intensifying pressure”, said Forsters Law, for “long-awaited” reform of laws for unmarried couples who live together.

The government has promised to consult on changes, but for now, many couples appear unaware of the risks from remaining outside of marriage’s legal framework.

What rights do couples have?

Common-law marriage may be recognised in some countries, said solicitors Bell Lamb & Joynson, but it is “a myth in the UK”.

Cohabiting couples do not have many rights around finances, property or children, which can be an issue if a relationship breaks down or a partner passes away.

If an unmarried couple splits up, there are no automatic rights to each other’s property, assets or income, apart from property that is jointly owned and child maintenance.

What happens to property?

Unlike a married couple, a cohabiting partner has no rights to claim a percentage of their partner’s assets or property, regardless of how long they have lived together or if they have children together. Unless it is a joint ownership.

It may be worth owning a property as ”tenants in common” with a deed of trust, said MoneySavingExpert, if it is “more complicated than a simple 50/50 split”.

But you have far fewer rights if the property is solely owned by your partner in the event of a split.

Are there Inheritance rights?

Very few. Unless assets are jointly owned or an individual applies to the courts, they will not inherit anything from a partner, unlike married spouses or those in a civil partnership.

A valid will, outlining beneficiaries, can provide reassurances that money or assets such as property can be passed on.

Those who inherit assets from their partner will benefit, but under current law, married couples enjoy far more protection and allowances. For example, spouses can pass assets to each other tax-free, but for those not married, anything worth above £325,000 in a deceased person’s estate could face an inheritance tax charge.

The lack of rights for unmarried couples might seem “harsh”, said law firm Slater and Gordon, but marriage provides a “certain degree of clarity” and comes with the “benefits and liability of a contract”.

However, “marriage isn’t the only type of legal contract”, and a cohabitation agreement or a declaration of trust can also provide some legal protection.

Can pensions be passed on?

Not in the majority of cases, which makes them a particularly “big risk area” for unmarried couples, said The Times.

Most schemes will automatically pay out to a spouse, but there are “no guarantees” for cohabiting partners. In some cases, payments for long-term partners will be allowed, and is worth investigating to see whether certain documentation needs to be completed in advance, such as an expression of wish form.

Packing for a trip is stressful enough without the added worry of how much it will cost you to bring your suitcase on the plane. But with many airlines raising checked baggage fees amid the ongoing war with Iran, it is becoming a cost that is worth taking into account in your travel budget.

In recent months, “most major airlines have hiked the price to check a bag by about $10” in an effort to “address the added costs” of operation and of jet fuel, both of which have increased since the start of the war, said The New York Times, citing airline executives. That means for most airlines, “you’ll pay at least $90 to check a bag on your next round-trip domestic flight,” said CNBC Select. And if you are traveling with your full family or with more than one suitcase, that bill can quickly increase.

Here are some smart ways to scale back (and not necessarily on what you pack) so you can save your funds for the actual fun of vacation.

1. Understand each airline’s policies

The specifics of baggage fees — when they apply, how much they run and what you can do to waive them — may vary a lot from airline to airline. If you know you will be checking bags, take a look at those fees when you are booking, rather than just considering the cost of the flight itself.

With United, for instance, you will pay $45 for the first checked bag and $55 for the second, said the Times. Meanwhile, for Jet Blue, the cost will vary depending on whether or not you are flying during peak travel times: The first checked bag is “$39 off-peak, $49 peak,” while the second checked bag is “$59 off-peak, $69 peak.”

2. Check your credit card’s perks

If you carry an airline credit card, “chances are you don’t have to worry about baggage fees,” given that “several top airline credit cards offer a free first checked bag for the cardholder — and sometimes for companions traveling on the same itinerary as well,” said NerdWallet.

For example, the Citi/AAdvantage Platinum Select World Elite Mastercard “grants cardholders and up to four companions traveling on the same reservation a first checked bag for free on American Airlines flights,” said CNBC Select. Another option, the Delta SkyMiles Gold American Express Card, allows “you and up to eight people traveling on the same reservation to get your first checked bag free.” Just note that you may have to make your reservation using the card to get this perk.

3. Take advantage of frequent flyer status

If you are in the air often, it can make sense to take advantage of airlines’ frequent flyer programs. Many of these “allow members with elite status to fly with checked bags for free,” and sometimes even multiple bags at no cost, said NerdWallet.

Flying frequently is not the only way to get this status, either. For instance, “if you have elite status with a hotel chain, you might be able to get elite benefits on a partner airline,” plus some credit cards offer automatic status as well, said NerdWallet.

If you need to take out a mortgage to purchase a house, the rate you get makes a major difference in how much you ultimately pay over time. Even just a percentage-point contrast can mean shelling out hundreds more per month on your mortgage payment. Understanding what factors influence your mortgage — and which of those you have some control over — can go a long way toward helping you secure a better rate.

What broader economic and market factors shape mortgage rates?

The “overall level of mortgage rates is set by market forces,” with rates moving “up and down daily, based on the current and expected rates of inflation, unemployment and other economic indicators,” said NerdWallet. In particular, the following has a bearing:

The overall economy. The broader economy, particularly factors like inflation and unemployment, has a sizable influence on mortgage rates. As a general rule of thumb, “mortgage rates tend to fall when the economy is slowing down, inflation is falling and the unemployment rate is rising,” said NerdWallet.

10-year Treasury yields. This yield “helps to show market trends in interest rates,” said Investopedia. “If the bond yield rises, mortgage rates typically rise as well,” and “the inverse is the same.”

Demand for mortgage-backed securities (MBS). Mortgage rates “change based on demand for MBS within the bond market,” which are effectively bundles of mortgages that lenders sell to government-backed entities, said Rocket Mortgage. “If more people are flocking to bonds,” which tends to happen more during periods of economic uncertainty, the yield “doesn’t have to be as high and mortgage rates are lower.”

The Federal Reserve. While the Federal Reserve itself does not set mortgage rates, the “biggest single factor that determines mortgage rates and all other borrowing rates in the U.S. is the Federal Reserve’s decision on the rates it charges banks in order to maintain the stability of the system,” said Investopedia.

What are the borrower-specific factors that influence mortgage rates?

While many of the forces shaping mortgage rates are out of borrowers’ control, there are still quite a few exceptions. That’s because lenders also evaluate the risk of lending to a specific individual when issuing a loan.

To make this determination, lenders look at factors like:

Credit score. A higher credit score almost always translates to a lower rate, as creditworthy borrowers present a lower risk to lenders.

Loan-to-value ratio. Your LTV ratio “compares the amount you’re borrowing with the price of the home,” said Bankrate. The “larger your down payment, the lower your LTV ratio and, generally, the lower your rate.”

Debt-to-income ratio. If you have a low ratio, “meaning the percentage of your income that goes toward monthly debt payments is low, it could result in a lower rate,” said Experian.

Loan term. The shorter your loan term, the “lower your mortgage rate is likely to be,” said Rocket Mortgage.

Property type. You can expect to pay a lower rate for a mortgage for a primary residence as opposed to a vacation or investment property. The idea is that if you “ever get into financial trouble, you’re more likely to prioritize the payment on the home you live in most of the time," said Rocket Mortgage, making a mortgage on a primary residence less of a risk in the eyes of the lender.

There are many ways to put money away, but are you better off sticking with savings or placing funds in your pension?

Putting money into savings or pensions, said Flagstone, “helps grow your wealth for the long term”. And while pensions provide “generous tax breaks”, said MoneySuperMarket, they aren’t as “flexible” as savings accounts. So how do you decide which is “best for your nest egg”?

Pros and cons of pensions

You can get a pension through your workplace or set up your own self-invested personal pension to manage the pot yourself.

Pensions have “valuable tax advantages”, said PensionBee, including tax relief on money you put in as well as employer contributions on workplace schemes, but the money can’t be accessed until you are 55 – and this is rising to 57 in 2028.

Once you hit the minimum age, 25% of your pension savings can be taken tax-free, said MoneyHelper, which you are “free to spend or save in any way you like”.

Up to £60,000 can be put into a pension each year, said GoCompare, and the money is invested in the stock market so there is “no limit to how much your pension investments can grow”, depending on the performance of financial markets.

Additionally, earnings in your pension are tax-free and you only pay tax once you start making withdrawals.

The earlier you start “the more your fund can grow”, said Flagstone, but as with all investing, “you can lose your money”.

Should you stick with savings?

Relying on a pension, said GoCompare, means you won’t have “easy access to money in the short-term”.

In contrast, you could put money into a savings account to set funds aside for “the future, for emergencies or to buy expensive purchases like a new car or a holiday”, said Citizens Advice, plus you will earn interest on your money.

Savers can choose from easy access, regular saver or fixed accounts. Many let you “access your cash whenever you like”, said MoneySavingExpert, but some versions such as notice accounts or fixed rates may have restrictions.

There is also a personal savings allowance of £1,000 for basic rate taxpayers and £500 for those on the higher rate.

Unlike pensions, said MoneySuperMarket, savings accounts have “no age-related restrictions” plus interest can be earned tax-free through a cash ISA, which makes them an “appealing option for many savers”.

Up to £20,000 can currently be placed into a cash ISA and also into a stocks and shares ISA. An ISA can be beneficial, said LV=, for those with “shorter- to medium-term goals”, or “people who value flexibility and access to their savings”.

Many savers have benefited from high interest rates in recent years, said MoneyWeek, but if your savings are outside an ISA and above the savings allowance, your returns can easily be “eroded away further by tax and inflation”.

Benefits of both pensions and savings

Pensions will provide a “much higher return” than cash savings, but you won’t have access to it in the short-term and there is tax on withdrawals, unlike taking money from an ISA. The “real answer” is that you can have both.

The “ideal approach”, said GoCompare, is to “take advantage” of the benefits of both pensions and savings.

You could combine the tax relief and employer contributions that you get with a pension with the “flexibility and accessibility” of savings and tax-free withdrawals from an ISA to build a “balanced financial future”.

Skipping the pump entirely by owning an electric vehicle may sound more enticing than ever as the cost of gas continues to skyrocket. Since the start of the war in Iran, the price per gallon of regular gasoline has pushed $4 in many locations. And with the average passenger car carrying between 12 and 16 gallons of fuel, according to online car-shopping guide Edmunds, costs can add up quickly per fill-up.

An EV, of course, allows you to avoid that cost entirely. But charging an electric vehicle is not necessarily free either, and there are other costs to consider in the overall equation, such as higher sticker price and faster depreciation.

How much can an EV save you on gas?

The answer depends largely on how and where you charge your vehicle. An analysis published by The New York Times in 2025 found that “driving an electric vehicle instead of a gas-powered car would save the average driver $8 every 100 miles” — but that’s “true only if you install a charger at home,” said Kelley Blue Book. If you plan to rely more often on public chargers, you may not see as notable of savings. In fact, some chargers can “cost more per mile than gas,” said Consumer Reports. However, “in every state, home charging is less expensive than gasoline,” said Kelley Blue Book.

Savings can also vary from location to location. That is because gasoline prices “vary depending upon the state, partly due to state taxes and partly because of the cost of transporting the stuff longer distances from where it’s refined,” said Kelley Blue Book. Electricity rates are similarly not fixed — and in many places, they are climbing. As such, in some states, the gap between the cost of electricity and the cost of gas may be wider or narrower, and it may change over time.

What other costs factor in when comparing an electric vs. gas car?

While gas tends to be the car-ownership cost we are confronted with most often, it is certainly not the only cost associated with owning a car. Before trading in for an EV, be sure to additionally weigh:

Sticker price: “Traditional gasoline cars usually have the lowest sticker price compared to their electrified counterparts,” said CNET.

Maintenance and repair costs: “EVs and PHEVs have 80% more problems on average than gas-only cars,” said Consumer Reports, citing its surveys of “hundreds of thousands of vehicle owners.” That said, they do have fewer parts and systems involved to maintain, and some offer “generous warranties on parts like batteries and electric drivetrains.”

Insurance costs: While “insurance costs vary a lot depending on the type of car you own,” on average, EVs are the “most expensive to insure because they have the highest sticker price, and because components such as batteries are more expensive to replace,” said CNET.

Depreciation and resale value: “Historically, EVs have experienced higher and faster depreciation than gas vehicles,” in part because the “EV technology improves so quickly,” said CNET.

Carbon costs: Environmental costs are also worth considering. “Producing an EV typically emits more greenhouse gases than manufacturing a gas car, but EVs are much less carbon intensive to drive,” with average total CO2 emissions of 30 tons for an EV sedan (including manufacturing and travel) versus 70 tons for a gas sedan, said The New York Times.

You hear the terms buyer’s market and seller’s market get tossed around a lot when the real estate market changes, whether due to varying supply and demand or mortgage rate movements. But if you are getting ready to enter the market, either as a buyer preparing to make a purchase or a seller listing their property, what does it actually mean for your homebuying — or selling — experience?

These terms effectively give you a clue as to which party will likely have the upper hand in transactions. If you are a buyer entering a buyer’s market, you can generally expect more options to choose from and greater leverage in negotiations. A seller’s market, by contrast, gives the seller the advantage, meaning they may get a better sales price, will have to offer fewer credits and repairs to seal the deal and even see bidding wars.

What is the difference between a buyer’s vs. seller’s market?

A buyer’s market happens when the “number of homes for sale exceeds the number of active buyers,” said Realtor.com. When this is the balance in the market, it typically “gives buyers more leverage as sellers compete to outshine one another.”

In a seller’s market, the exact opposition is true: there “will be more buyers than homes for sale, so sellers have more control over the transaction,” said Yahoo Finance. As a result, buyers have a “lower chance of getting a home they want for a lower price, negotiating for repairs or receiving closing cost assistance from sellers,” and they may even “have to compete for a property in a bidding war.”

How can you tell if it is a buyer’s or a seller’s market?

One of the biggest tipoffs is home inventory. The “larger the inventory, the more likely it is that your local area is in the midst of a buyer’s market,” said Rocket Mortgage.

Another way to gauge market conditions is by digging into homes that were recently sold. For instance, “if you find that homes generally have been selling above their asking price, it’s a good indication that you’re in a seller’s market,” said Rocket Mortgage. If homes are sitting on the market for a while and there are price cuts, that suggest a buyer’s market.

Lastly, mortgage rates and where they have been headed can be an indicator. “Rising interest rates make it more expensive for buyers to borrow money for a mortgage loan,” which can mean “first-time buyers and those on tighter budgets are often pushed out of the market entirely, reducing overall demand,” said HomeLight, a home buying and selling platform. Lower rates, on the other hand, will have more buyers ready to make moves.

Is it bad to sell in a buyer’s market, and vice versa?

Not necessarily, as long as you understand the implications and adjust your expectations and strategy accordingly. If you want to sell your house in a buyer’s market, “consider your list price carefully, compare the numbers for a good estimate of what the sale proceeds will be and be ready for a possibly slower sale,” said Yahoo Finance.

On the flip side, as a seller in a buyer’s market, it is important to balance making a competitive offer without compromising on your budget or eventual home purchase. In this situation, a knowledgeable real estate agent, a mortgage preapproval, an earnest money deposit and some flexibility around a closing date can go a long way. Patience is also key, since “during a seller’s market, sometimes buyers lose out on homes they’re interested in,” said Rocket Mortgage, and they may have to make multiple offers and commit to a longer search.

When you are already scrolling on your phone, your credit card information is saved and shipping is free, it can be a little too easy to click ‘buy.’ Even if that purchase is small, these shopping slip-ups can quickly add up. Over time, they may push your well-laid financial plans off track.

Such incongruence between actions and intentions can also bring about feelings of guilt. According to a study by Liquid Web, “14% of shoppers have bought something within one minute of seeing an ad, and 85% regret an impulsive online purchase,” said Investopedia.

So how can you keep your focus on the big picture, instead of falling for the short-term high of shopping? Friction maxxing may be the answer.

What is friction maxxing?

In essence, friction maxxing refers to the practice of adding friction, or some degree of difficulty or inconvenience, to a task. The practice can apply in practically any area — it may look like “cooking from scratch instead of ordering a delivery, finding your way using road signs instead of just plugging in the [GPS] or reading a book rather than half-listening to the audio version of it,” said The Guardian.

The point is not to make your life harder, but rather to cause you to slow down and be more intentional about your time and choices. When it comes to finances, that might mean deleting your saved payment information from your favorite shopping sites, so you are forced to pause for a moment, get up and get your physical credit card; during this time, you could reevaluate whether the purchase really aligns with your broader financial goals.

How can adding friction help you spend less?

When spending “feels easy, it grows quickly,” so the idea is that by “adding small inconveniences, known as ‘friction,’” it “gives your brain a moment to assess whether a purchase is worth it,” said Empeople Credit Union. During this pause, you gain a little bit of space to more deliberately weigh your decision to purchase, and you may ultimately decide against it.

Course-correcting these seemingly small decisions can add up. While “each decision may add only a few dollars to a receipt,” when it reoccurs “over weeks and months, these minor deviations can total hundreds or even thousands of dollars a year,” said Yahoo Finance.

You can also introduce friction around your exposure to spending opportunities. After all, if you do not even know an item exists, you cannot feel tempted to buy it. After committing to “block social media and shopping apps from 5 to 9 p.m. on weekdays,” one finance writer reported cutting their spending “by $300 compared with the previous month,” which they then put into their family’s “sinking funds, rather than let it slip away toward impulse purchases,” said NerdWallet.

What are some easy ways to add friction to your financial life?

If you are intrigued by the idea of financial friction maxxing, there are some easy ways to institute it:

• Delete saved payment information
• Turn off one-click purchasing
• Get rid of shopping apps
• Cut back on time spent scrolling and on social media
• Institute a waiting period, such as 24 hours or even a week, before making a purchase

It is likely that somewhere along the way, you have heard about emergency funds and the importance of having one of your own. These cash stashes will be waiting for you when the unexpected happens, like a surprise medical bill or a burst pipe in your house. But what about those costs that you technically know are coming somewhere down the line, but they are not yet part of your regular, day-to-day budget?

This could be a roof you realize will eventually need replacing or a new set of tires after you hit a certain mileage on your car. In these situations, a sinking fund can be exactly what you need to ensure you have the cash on hand, without depleting the funds necessary for your everyday expenses or wiping out your emergency stores.

What is a sinking fund?

A sinking fund is “another name for money you save a little bit at a time for a specific purchase in the future,” said NerdWallet. This can refer to “infrequent bills,” such as your pet’s annual teeth cleaning or mulching your yard, or a “large one-time expense,” like a down payment on a home or an engagement ring, said CNBC Select.

The type of expenses that make sense to cover with a sinking fund are those that are “generally more predictable than emergencies but less so than recurring spending, and they don’t occur often,” said NerdWallet.

When can a sinking fund come in handy?

Having a sinking fund adds a forward-looking component to your budget, allowing you to earmark specific savings goals and start stashing away money for them. This ensures the expected funds are there when you need them, which can prevent you from falling back on credit, dipping into your other savings buckets or derailing your regular monthly budget when the expense arises.

While you can dedicate a sinking fund to any range of expenses, some of the most common uses include:

• Home maintenance and repairs
• Expensive appliances or electronics
• Furniture
• Vehicle maintenance and repairs
• Pet care costs
• Birthdays and holidays
• Vacations
• Wedding and engagement expenses
• Baby expenses

How can you start a sinking fund?

What sets a sinking fund apart from other savings is that it “focuses on one specific savings goal” rather than being more broadly for the future and any emergencies that may arise, said Discover. As such, one of the first steps in setting up a sinking fund is determining what goal you are putting away money for, how much you will need and what your deadline for meeting your goal will be.

From there, determine how much is necessary to set aside each month to meet your goal by the assigned deadline, as well as where you will be putting those funds. Ideally, “you want your sinking funds to earn as much interest as possible while remaining somewhat accessible,” said CNBC Select. A high-yield savings account can be a good candidate for this, especially given that “some banks allow you to open a main savings account with multiple subaccounts,” said SoFi, making it even easier to know which amount is going where.

Roadtripping offers a unique blend of spontaneity and flexibility that many other forms of travel simply do not have. But when it comes to cost, this kind of expense can be a little less clear-cut than, say, simply purchasing an airline ticket, where you know exactly what you are paying upfront.

That variability also means that there is more room to find ways to save. And especially given the sky-high cost of gas lately — not to mention inflation — saving is more important than ever. Here are four ways to spare your wallet on an upcoming road trip.

1. Plan ahead as much as possible

Nailing down all the angles of your trip ahead of time can save you both a lot of headaches and a significant amount of money. Before you set out, decide how much you can comfortably budget for your trip. Then, plan the route you will take and where you will stop along the way, including for sightseeing, lodging and food.

Advanced planning can also allow you to cut down on certain costs, which can leave more wiggle room for other fun add-ins. For example, “you can often secure a better rate by booking in advance (and online), than by showing up without a reservation or booking last minute,” said SoFi.

2. Make the most of rewards

It is hard to think of a road trip these days without considering the cost of gas. While fuel is an unavoidable expense (unless you drive an EV), there are ways you can portion less of your total road trip budget toward it. Consider gas-saving hacks, such as paying in cash, joining gas station fuel rewards programs or using a gas rewards credit card. There are also apps you can use to find the cheapest spots to fill up nearby.

Rewards do not have to be reserved for just gas, either. Booking with the “same hotel chain as often as possible and signing up for their member loyalty (or ‘points’) program may net you a free night after a few stays,” said SoFi.

3. Get a tune-up before you go

Your vehicle itself is another major determinant of fuel efficiency. Simple tasks like aligning and filling your tires, as well as changing your oil, can help you use a little less fuel and put less wear and tear on your vehicle, which can add up when you are racking up the miles on a long road trip.

Taking your car in for review can also help avoid issues down, or rather on, the road, which can be costly — and cause you to lose out on valuable vacation time. The good news is, “if you happen to need a standard oil change before your trip, many service centers will offer a free multi-point checkup of your vehicle and examine fluid levels, the battery, tire pressure, brakes and more,” said Discover.

4. Pack smart

How you pack your car can also have a major impact on overall costs. Put simply, the “heavier your vehicle, the worse its fuel efficiency,” which means that the “more luggage and gear you carry, the more fuel your vehicle will use,” said Kiplinger.

Also, think carefully about what you decide to dedicate your precious trunk space to. By “packing a cooler with water bottles, drinks, hand-held snacks and sandwiches,” for instance, “you can end up saving a sizable chunk of cash by not having to buy drinks and snacks at rest stops, vending machines and drive-throughs,” said SoFi.

As conflict continues to destabilise the Middle East, the Gulf States elite are seeking solace in European alternatives that offer comparable financial benefits with a far lower risk of war on the doorstep. One such destination is the small Swiss town of Zug, which is becoming a “bolt-hole” for Gulf-based wealth, said the Financial Times.

‘Swiss Monaco’

Switzerland’s reputation as a magnet for the world’s financial elite is nothing new. In 2025, the country recorded the “densest concentration of millionaires” with an estimated 146 per 1,000 adults last year, said The Times. Now home to around 135,000 people, Zug’s canton – also named Zug – used to be the “poorest corner of Switzerland” until it lowered its tax rates in the 1950s. “Now it has corporate tax rates of 16.2% compared with 40% in the US and 33.3% in France.”

“In almost all ways Zug is unremarkable”, with its traditional Swiss architecture and cobbled waterfront lanes. But if its “Alpine lake water is clear”, the financial scene is more “murky”. Many credit Marc Rich and Pincus “Pinky” Green, founders of metals and minerals trading firm Glencore, with the transformation of Zug from a “Swiss backwater” to its status as the “Swiss Monaco”. The multinational is headquartered just outside Zug, and has made the town a “global powerhouse for trading crude and refined oil products”. It should be “no surprise” that the “1% of the world’s 1%” are taking shelter there, and at the same time, hoping to still “keep a hand in the oil business”.

“Industry estimates suggest that tens of billions of dollars could flow into Switzerland depending on how the current conflict evolves,” said the Outbound Investment Group. The “immediate trigger” for the “surge in interest” from Gulf-based investors is the war in the Middle East. However, Switzerland’s underlying appeal is its unwavering “Swissness”: “political neutrality”, “strong legal frameworks”, and reputation for wealth preservation. It’s a safe bet with no sign of slowing.

‘Availability tightening’

There are some drawbacks, said the FT. For “would-be arrivals”, the appeal of the region for Middle Eastern residents comes with “practical constraints”. Those outside the EU “face a higher bar”. Usually, the condition of residency is “tied” to employment or company formation. For the “very wealthy”, there is the added option of “negotiated lump-sum taxation agreements with cantonal authorities” that allow individuals to “pay a flat annual tax based on living expenses rather than global income”.

Even if they are holders of EU passports, the “main bottleneck” is the availability of property. Competition is “intense” and “rental supply is extremely limited, with properties often snapped up within days”. With Zug’s “availability tightening”, other cantons in the region with similar tax arrangements could benefit, such as Lugano, an Italian-speaking city in the Ticino region.

The uncertainty of the duration of the conflict is one of the most pressing concerns, said Bloomberg. The recent breakdown of ceasefire talks risks “forcing a reckoning for the professional and expat classes considering options after putting down roots in the Middle East”.

The short-term benefits of physical safety from leaving the Gulf are clear, but changing tax residency “takes time” and practicalities such as finding schools and “conforming to national requirements such as opening local bank accounts” is often “complicated and time-consuming”. The region’s ultra-wealthy are facing “uncomfortable decisions on whether to make the move permanent, especially with the end of the school year in sight”.

From brick-and-mortar behemoths to smaller online startups, there are a lot of options when it comes to banking. But banks, whether online or in-person, are not your only choice when choosing where to store your money. There are also credit unions to consider.

These financial institutions have a distinct member-owned and member-operated model that can confer a number of unique benefits to those who choose to join, from competitive rates and lower fees to a more personalized, community-focused feel. Increasingly, Americans are taking advantage. In 2025, credit unions “added 2.4 million members, bringing total membership to 144.7 million,” said CNBC Select, citing data from the National Credit Union Administration (NCUA).

What makes credit unions unique?

The biggest distinction between credit unions and banks is that credit unions are not-for-profit organizations that are owned and operated by their members, who elect a board of directors. Because of this model, any profits a credit union earns are returned to its members in the form of lower fees and higher rates. Banks, by contrast, are for-profit institutions that are owned by private owners or investors.

To have an account with a credit union, it is necessary to become a member. Beyond that, though, credit unions offer many of the same account types and services as banks. Deposits are typically federally insured, up to the same limits as with accounts at banks, though through the NCUA as opposed to the FDIC.

What are the benefits of a credit union?

Arguably, the “biggest benefit is better rates because they work for members, not outside investors,” said Bankrate. Not only do “credit union profits go back to members, who are also shareholders,” but they also “enjoy tax-exempt status as not-for-profit organizations,” which means they do not have to pay taxes on their profits as banks do. This can materially affect the yields they can offer and the amount they collect in fees. Often, at credit unions, you will find “higher savings account rates and lower loan rates,” as well as “better yields on certificates of deposit (called share certificates at credit unions) and more competitive rates on mortgages and auto loans,” said Bankrate.

Another area where credit unions can shine is customer service. “Focusing on a community of people, they tend to pride themselves in treating everyone fairly and personalizing service the best they can,” which may materialize as “looking beyond just your credit score when approving you for a loan or offering you access to assistance like financial counseling,” said CNBC Select.

Are there any drawbacks to credit unions?

While credit unions probably sound enticing, they are not always easy to join. “Some credit unions have very specific membership requirements, such as military- and company-based credit unions,” said NerdWallet, though there are many more to choose from that do have easier-to-meet requirements.

It is also worth keeping in mind that while a smaller size can confer a more personalized service feel, it may also limit what credit unions can provide. “Banks get higher customer satisfaction ratings for the number and location of ATMs and branches, compared to credit unions,” said Investopedia, citing the American Customer Satisfaction Index survey. You may also find fewer account options and a more limited, or less sophisticated, digital presence.

Premium Bonds are one of the nation’s most-loved savings products, but falling prize rates mean savers could be better off putting their money elsewhere.

Government-backed National Savings & Investments has offered Premium Bonds since 1956, as a way to keep savings safe, with the “added thrill of a monthly cash prize draw”, said GoCompare.

But its prize rate dropped this month from 3.6% to 3.3%, cutting the chances of winning.

What are Premium Bonds?

Premium Bonds are a government-backed savings account. But rather than earning a guaranteed return in interest, savers are entered into a monthly prize draw with the chance to win a sum ranging from £25 to £1 million in cash.

The prize fund rate is the benchmark used by National Savings & Investments to set the number of prizes to be given away each month. The figure represents the rate of return for a bondholder with average luck. Some holders will earn a lot, some nothing.

But the odds of winning are so low that if everyone with £1,000 in Premium Bonds were lined up, “you’d need to walk past 60% of the line until you hit the first £25 winner”, said MoneySavingExpert,.

Pro: Safe, tax-free savings

Money in NS&I accounts is lent to the government, making it secure with Treasury-backed benefits. Money with other regulated financial institutions, such as banks, is protected under the Financial Services Compensation Scheme (FSCS) if a provider goes bust for up to £85,000.

As the maximum investment in Premium Bonds is £50,000, the protection level is the same as if you had an equal amount in a savings account.

Those who do strike lucky in the monthly draw can take the winnings tax-free, which could be a good way to safeguard savings from the taxman if you have used up all ISA and personal savings allowances.

Con: Low odds, won't beat inflation

The main allure of Premium Bonds is the chance to win up to £1 million, but even discounting the maximum, many of those with money in accounts will never win anything.

With the reduction in the prize rate, the odds of winning anything are 23,000 to one. The luck of the draw means a saver could win big, but they could also walk away with nothing at all.

Relying on luck and not fixed interest, over time and without a win, Premium Bonds savings may lose purchasing power as inflation rises. The poor odds of winning make it unlikely to beat such rises.

Pro: Easy withdrawal

They do offer the chance, no matter how small, of a holder becoming a millionaire, and savers get the monthly thrill of a prize draw. Plus there are no time limits, and money is free to be withdrawn at any time.

Con: Low returns

But Premium Bonds are “not the most lucrative choice” based on the return, said Fidelity. This is especially the case compared with top savings accounts, which may have suffered cuts in recent months, but still pay regular interest at more than 4%.

In contrast to Premium Bonds, savings accounts provide an “agreed rate of return”, said The Independent, plus savers may “attract higher long-term returns” by investing.

On the face of it, a subscription — whether to a streaming service, a newsletter or a food delivery app — may seem like it would not make or break your budget. But those small, recurring charges can quickly add up, especially if you have a lot of them.

Many money experts recommend subscriptions as one of the first places to look if you want to trim back. More than half of U.S. adults (55%) “plan to significantly decrease the subscriptions they have in 2026 in order to save money,” said NerdWallet, citing its recent survey. However, you do not necessarily have to go cold turkey and cancel everything to reap some savings. Here are four ways to save on your subscriptions.

1. Regularly reassess

One of the smartest ways to prevent subscriptions from taking too large a bite out of your budget is fairly simple: Keep track of what subscriptions you have, then revisit that list on a regular basis. Most Americans “likely couldn’t list all their subscriptions and prices off the top of their heads — not due to carelessness, but because they have so many, and they’re easy to forget about on autopay,” said NerdWallet.

By doing an audit, you may find you have been paying for a service you do not actually use anymore or even that you are accidentally paying for one twice. You can do this work manually, by going through bank and credit card statements, or there are also budgeting apps that can do the work of tracking, and sometimes even canceling, your subscriptions for you.

2. Commit for longer

This may seem counterintuitive if you are trying to cut back on subscriptions. But for those you really want to hold onto, making a longer-term commitment can make a difference, since “paying annually rather than monthly will usually work out cheaper,” said The Guardian. Just make sure to watch out for auto-renewal, when a price hike will sometimes sneak in.

3. Share with family or friends

When it comes to subscriptions, it is usually the more, the merrier. So if you have friends or family members who also use the same subscriptions you enjoy, ask if they want to go in on a plan together.

For instance, “Spotify, Apple Music, YouTube Premium and some live TV bundles all have family or group options that cost much less than what you’d pay on your own,” said GoBankingRates. Sometimes, though, there is fine print to be aware of — for example, some “services’ family plans might require all members to live at the same address.”

4. Pause and rotate

Just because you like to have a subscription does not mean you must have it all the time. Another hack that people sometimes use to save money is pausing (or totally canceling) one subscription, then picking up another for a bit.

How would this work? For saving on streaming services, you would “pick a couple that have shows premiering this month or shows that you’ve been meaning to watch,” then “keep those for a few months while you catch up on everything you want to watch,” said Kiplinger. After that, “cancel your subscription and move on to your next batch of two or three streaming services.” Once you are “caught up on movies and TV series on those, rinse and repeat.”

If you opt for a pause instead of a full cancel, you can keep your account there, frozen and waiting for you. Just make sure to maintain tabs on when it starts back up.

Climbing gas prices can put a major crimp in your budget, especially if you have a long commute or live in a car-reliant location. Just cents more per gallon can quickly add up to a higher total gas bill, and when the price per gallon skyrockets by a dollar or more — as it did in some areas in March amid the Iran war — that can make every fill-up feel like a nail-biter.

Common solutions to higher gas prices are often tied to driving habits, whether that means relying less on your car and more on public transportation, or finding someone to carpool with on your way to work. Those gas-saving strategies are certainly valid, but they are not your only option, particularly when gas prices are getting especially steep. Another hack might already be in your wallet, or could be a smart addition to it: a gas rewards credit card.

How can credit cards help offset higher gas prices?

Gas credit cards offer “rewards on fuel purchases, which can help reduce the cost,” said U.S. News & World Report. These rewards may come in the form of points or a percentage cash-back on every fuel purchase.

Many of today’s top gas credit cards “offer around a 3%-5% (or 3x-5x) return on your gas station spending,” said Yahoo Finance. And while this may not seem like much, it can “add up over time, especially while fuel prices are high.”

Are there any risks or drawbacks to using credit cards to cover gas?

Perhaps the biggest caveat is that gas rewards cards tend to be best for those who can afford to pay off their credit card balance in full each and every month. Given steep credit card APRs, “any rewards you might earn by paying with plastic would likely be overshadowed by the interest you’d rack up in just a single billing cycle,” said NerdWallet. Some cards may also charge annual fees, which can also eat into the rewards you earn.

Additionally, it is worth noting that cards may put a cap on the rewards you can enjoy in a certain period. “Depending on how much your regular gas bill is, these caps could make a difference in how much you can earn,” said Yahoo Finance.

How can you find the best gas credit card?

To get the most out of a gas rewards credit card, you need to know what to look for. There are two main types: specific “co-branded gas cards — those affiliated with a particular company such as Exxon or Shell,” and “general rewards credit cards,” said NerdWallet. The former “tend to offer incentives on fuel bought at those specific stations,” whereas general rewards cards allow you to earn rewards “on gas purchases made anywhere, not just with one specific brand,” and often at a higher rate. (There are, however, exceptions here, such as “cards affiliated with wholesalers like Costco and Sam’s Club, whose gas prices tend to be lower than average,” said NerdWallet.)

That said, when choosing a card, it is also important to note any associated costs. That could be a membership fee, as with the aforementioned wholesalers’ cards, or an annual fee.

For a general rewards credit card, you should also take a look at the card more holistically in terms of your financial habits. If you can “find a card that helps you save on gas along with your other regular budget items, you can save even more over time,” said Yahoo Finance.

The countdown to the closure of the SAVE plan has at last begun. The student loan repayment plan, which aimed to offer lower monthly payments and a faster path toward forgiveness for borrowers, almost immediately faced pushback when introduced by the Biden administration in 2023, with several Republican-led states suing. For a while, this ongoing legal battle left borrowers in limbo. But with the recent arrival of a decisive, plan-ending judgment, followed by a deadline set by the Trump administration for those who are enrolled to exit, borrowers are now in a position where they must take action.

What is happening to the SAVE plan?

After a roughly two-year legal battle, a decisive judgment has arrived for the federal SAVE, or Saving on a Valuable Education, plan. As of March, the “Eighth Circuit Court of Appeals put an end to a legal challenge of the SAVE student loan repayment plan and instructed a district court to approve a proposed settlement between the Trump administration and the state of Missouri that would end the program,” said Yahoo Finance. In short, the program is “permanently eliminated.”

Following this, the Department of Education sent out a notice informing borrowers “they would need to switch to a different federal repayment plan by the end of September,” said NerdWallet. As of that announcement, “over 7 million borrowers” were still enrolled in the plan, which “offered lower monthly payments than other income-driven repayment plans,” as well as the opportunity for faster loan forgiveness.

What will happen to borrowers enrolled in SAVE?

Up until this point, while litigation has been ongoing, borrowers enrolled in the SAVE plan have been in “an administrative forbearance without payments due since the plan was challenged in court in the summer of 2024,” said CNBC, though interest began accruing in August 2025. But as of July 1, these remaining enrollees can expect to receive an email from their servicer instructing them to leave the SAVE plan and offering instructions for how to enroll in another repayment option. They will have 90 days to do so, or until the end of September.

Those who do not switch over will be automatically enrolled in the 10-year standard plan, “which would result in considerably higher payments in many cases,” said U.S. News & World Report.

What alternative repayment plan options do borrowers have?

With SAVE now officially off the table, borrowers have the option of existing income-based repayment plans, which can offer more affordable payments than the standard 10-year repayment plan. Another option is to wait to enroll in RAP, or the Repayment Assistance Plan, a new repayment plan established under Trump’s One Big Beautiful Bill Act. This plan moderates payments based on income, though a minimum payment is required, and offers forgiveness after a longer period of 30 years.

Regardless of the option borrowers choose, “it’s likely that any new plan will mean higher payments,” said U.S. News & World Report. The SAVE plan “was the most affordable option for most people.”

The countdown has begun to the introduction of new rules on how pensions are treated after someone dies.

In the “biggest shake-up of inheritance rules in a generation”, said The Telegraph, the value of a pension will, from April 2027, form part of someone’s estate after they die.

This could mean an inheritance tax bill for one in five households, said The Times, so “the countdown is on to protect their family wealth”.

What is the pensions death tax?

Putting money into a pension has traditionally been “one of the most tax-efficient ways to pass wealth on to loved ones”, said Rest Less. But any unused money in the pot from next year will fall into the scope of inheritance tax, “potentially reducing the amount families receive when someone dies”.

The proposals were announced in the October 2024 Budget by Chancellor Rachel Reeves. They aim to address concerns, said Dentons, that pensions were “increasingly being used as vehicles for inheritance planning, rather than for their primary purpose of providing retirement income”.

Who will be affected?

Inheritance tax is paid on the value of an estate above £325,000. Additionally, there is a £175,000 allowance for your main residence.

The tax “isn’t going to be an issue for most people”, said Royal London, but you may be affected if you own your own home and the value of your pension is added due to the potential total amounts.

The changes will still affect “most individuals” who have unused pension benefits when they die, said Tax Adviser. This means pensions can no longer be relied on as an “efficient means of passing” on wealth such as to your children. This could apply to millions who were previously free of it.

Inheritance tax receipts have already been rising due to “years of property price growth, asset inflation and frozen tax thresholds”, said The Times, so including pensions “will accelerate the trend”.

Beyond the potential charge, “of greatest concern”, said Wedlake Bell, is that payment of inheritance tax on pension assets will remain six months from the end of the month when the deceased died and interest on unpaid inheritance tax is currently running at 7.75%. The government has rejected calls to give bereaved families more time to pay.

Many families could face paying interest, said MoneyWeek, “due to administrative jams” involved in finding pension information and getting the right valuations.

How to prepare for the changes

If you are retired “it might make sense” to prioritise taking money from your pension before other assets, said Grovely Financial, especially if your goal is “inheritance tax mitigation”.

Another option, said MoneyWeek, is to “give away money while you are alive” so you can watch your loved ones enjoy it.

Up to £3,000 per tax year can be given as a financial gift, and tax-free gifts can be made to your children worth up to £5,000 for a wedding or civil partnership or £2,500 for a grandchild or great-grandchild.

Any money given outside of the gifting allowances is tax-free as long as you live for seven years after transfer. Gifting allowances can be used to pass cash on to loved ones, or alternatively, for extra net income.

Alternatively, there are life insurance policies that pay out to cover the cost of inheritance tax. They work in a similar way to other life insurance products: you pay premiums while you are alive “and there will be a payout when you die”, said The Independent.

A British computer scientist who pioneered a forerunner of cryptocurrencies has denied reports that he is Satoshi Nakamoto, the pseudonymous creator of Bitcoin.

An investigation by The New York Times used biographical details and writing style comparisons to make the case that Adam Back was the cryptocurrency’s enigmatic founder.

Who is Adam Back?

Back, a 55-year-old computer scientist from London, “has long been seen as a potential candidate to be Nakamoto”, said The Times. “A pioneer of early digital asset research in the 1990s”, he “has a long-standing background in cryptography, the techniques used to secure and verify digital information”. This includes developing Hashcash, “a proof-of-work system that later influenced Bitcoin” and was referenced by Nakamoto in his Bitcoin “white paper”.

Back dismissed The New York Times’ use of writing analyses to link him to the elusive Nakamoto as “a combination of coincidence and similar phrases from people with similar experience and interests”. In reference to the claim that he disappeared from Bitcoin message boards when “Satoshi” was at his busiest, Back insisted that he “did a lot of yakking” on the forums at the time. “I’m not Satoshi,” he said.

Why is Nakamoto’s identity a secret?

Since Bitcoin launched in 2008, Nakamoto has chosen to stay anonymous. All their communication was written under their pseudonym and no verifiable personal details have ever been released or revealed. Since 2011, they have given no public statements at all, their seeming disappearance giving them a “cult-like status among crypto enthusiasts”, said The Times.

This anonymity was very on-brand for Bitcoin. The cryptocurrency was designed to have no central authority; if the identity of a real person were known they could become a leader or figurehead, which might contradict the founding principle of decentralisation. There is a security element, too: Nakamoto is thought to own $78 billion worth of bitcoin, so remaining anonymous lessens the risk of extortion or kidnapping.

It’s also possible that the mysterious founder is not one person, but rather a team of developers or cryptographers. Either way, the years of speculation have added to Bitcoin’s profile and acted as a useful indirect marketing tool.

Has anyone else been suggested?

In 2014, Newsweek identified a Japanese-American systems engineer called Dorian Satoshi Nakamoto as the creator of Bitcoin. He disputed this, and the claim has “largely been debunked”, said the BBC.

The following year, Wired suggested Nakamoto could be a pseudonym for Australian computer scientist Craig Wright. Unlike Back and Dorian Nakamoto, Wright went public to assert he was indeed Nakamoto, until a UK High Court judge ruled he was not the Bitcoin founder and barred him from continuing to claim he was.

In 2024, an HBO documentary claimed that Canadian crypto expert Peter Todd was the real Nakamoto, a suggestion he described as “ludicrous”.

Whether you are considering a move to a new apartment or reevaluating how to allocate your budget, you may be wondering how much is reasonable to shell out each month for rent. Of course, the cost of housing is a non-negotiable — after all, you need a place to live — but it is also typically among the biggest regular expenditures a person has. It is also an expense you must commit to, at least for a certain period of time, when you sign a lease.

Before you sign on the dotted line and agree to pay a portion of your income every month, it is important to have an understanding of the guidelines for rent spending, as well as what factors influence the amount that is actually right for you and your budget.

What percentage of your income should ideally go to rent?

These two common rules of thumb can give you a rough idea of what is reasonable to spend on rent each month, at least according to financial experts:

The 30% rule: This rule “says that you should limit what you spend on rent to 30% or less of your gross monthly income,” with the cost of rent also including “other housing costs, such as renters insurance, utilities, parking and more,” said Rocket Mortgage.

The 50/30/20 rule: This is a “more comprehensive rule that takes all of your expenses into account, as well as savings goals,” said Rocket Mortgage. Here, the benchmark is to spend a maximum of 50% of your income on essentials and financial obligations, like rent, and then 30% on wants, meaning discretionary spending. The remaining 20% goes into savings.

What factors affect the cost of renting?

The above rules can be a helpful starting point, but they do not necessarily account for the myriad factors that can quickly throw a wrench in those calculations.

Location, as you might expect, is a big one. For instance, the 30% rule can be “hard to follow in a place like New York City or San Francisco, where median rents are well over $3,500 for a one-bedroom apartment,” said NerdWallet, citing 2025 Zillow rental market summaries. Where you live also shapes housing inventory, and the “law of supply and demand means landlords can charge more in areas where there’s a shortage of rental properties,” said Experian.

It is also important to look at the one-time and recurring costs as they relate to the place you rent. Some landlords include utility costs in the price of rent, in which case it may make sense for you to pay a bit more. Or, an apartment building could “have an on-site gym or a washer and dryer in-unit, which might make your rent payments higher,” but you will “save money on membership fees and laundromats,” said NerdWallet. Another consideration is commuting costs: While you may save by living further from the city center, how much will you then have to shell out to get to work every day?

How can you determine how much rent you can afford?

Rather than focusing on this one number, it is important to zoom out and consider your broader financial situation. The “biggest factors are your income and fixed monthly bills, such as utilities, loan payments, health insurance and other costs you must cover,” said Rocket Mortgage. This will shape how much you actually have leftover in your budget to cover the cost of rent.

If you find that the resulting calculations are out of line with the above rules of thumb, consider whether you can cut back in other areas or if you are open to exploring ways to pay less in rent, such as getting a roommate.

Spring is usually considered prime time for the housing market. The winter weather is finally thawing out, the sun is starting to shine more regularly and everything is looking greener and rosier. But this year, some unanticipated challenges are threatening to upend what is usually the busy season for both buyers and sellers.

Due to the war with Iran, the “cost of oil is shooting higher, leading to rising inflation and causing the Fed to reconsider” its previously planned rate cuts, said CNBC. In turn, “U.S. bond yields are rising, with mortgage rates following suit.” With rates steadily increasing week by week and waning affordability continuing to squeeze budgets, the question arises: is this spring the right time to make homebuying moves?

What is next for mortgage rates?

In March, mortgage rates steadily climbed. The month saw a “three-week climb” that marked the “steepest such rise in more than a year and a half,” said Realtor.com, citing Freddie Mac data. As of the week ending March 27, the “contract rate on a 30-year, ​fixed-rate mortgage rose 14 basis points to 6.57%,” said U.S. News & World Report.

So, will that ascent continue? “While there’s a slight possibility of rates easing downward, they are more likely to remain in the low-6% range for the near term,” said MarketWatch, citing Jen Poniatowski, the SVP of mortgage growth and market development at Key Mortgage.

However, the trajectory will ultimately depend on factors that are hard to predict with any certainty, particularly oil prices. “If oil prices retreat closer to $70 per barrel, then mortgage rates may return closer to 6%. If oil prices reach $100, then mortgage rates may rise to 6.7% to 7%,” said Lawrence Yun, the chief economist and senior vice president of research at the National Association of Realtors, to MarketWatch.

How could rising rates affect the spring housing market?

Higher mortgage rates have already “proved a deterrent for some potential home buyers,” said NerdWallet. And then there is the added layer of “higher costs for basic household goods, food and gas,” which “could scuttle more folks’ plans.”

This hesitancy is showing up in the market. “The number of homes for sale is climbing not because there are so many more sellers, but because the homes on the market are sitting,” said CNBC. This is giving buyers a bit more leverage, though, as “sellers entering the market appear to be moderating their price expectations, with the typical asking price running nearly 2% below year-ago levels,” said Realtor.com.

Is this spring still a good time to buy or sell?

Both buyers and homeowners “should be prepared for continued rate volatility and avoid making decisions based solely on short-term market movements,” said Kiplinger. Really, what it comes down to is “how a housing decision fits into your broader financial picture, including your income stability, long-term plans and comfort with monthly costs,” rather than what is going on with the market at any given moment.

Zooming out for some broader context can also be helpful. While rates are high, and rising, “they’re still notably lower than at the same time last year,” said NerdWallet.

Sometimes, people may feel like they are stuck renting because homeownership is out of reach financially. But what if renting were actually a step on the path toward becoming a homeowner? In the case of rent-to-own agreements, it can be.

These agreements are essentially rental leases that include an option (or, in some cases, an obligation) to eventually buy the property after living in it for a period of time. During this time, some of the rent you pay may go toward a future down payment. While this likely sounds like an appealing prospect, and it can have upsides, there are some definite drawbacks worth weighing first.

What is a rent-to-own agreement?

A contract that effectively “gives renters the option to work toward buying the home they already live in,” said Bankrate. Because of this dual purpose, the contract contains two parts: a standard rental lease detailing your obligations as a renter, and a separate option-to-purchase contract.

As part of the agreement, a portion of the rental payment you make each month may get diverted toward your eventual down payment, an arrangement known as “rent premiums” or “rent credits,” said NerdWallet. You may also need to make a non-refundable deposit upfront, known as an “option fee,” that is similarly a portion of the home’s purchase price, “typically 1% to 7%.”

While you continue to rent, that money will be held in an escrow account until you purchase the home. Typically, “your rent-to-own agreement will spell out how long you can rent the home before you must decide whether or not you buy it,” a period of time that is “often 2 to 3 years,” said Rocket Mortgage. Depending on the specifics of the contract, that eventual purchase may be an option (a lease-option contract), or it may be a contractual obligation (a lease-purchase contract).

What are the pros of rent-to-own homes?

One of the obvious upsides is that you are accruing a down payment while you live in the home as a renter. This can be helpful if you have been struggling to set aside the necessary amount. Plus, while you save, you have built-in time to improve your credit, if that is necessary for you to secure a competitive mortgage offer.

The arrangement can also offer some stability, not to mention logistical relief. “Since you’re already living in the home, you won’t have to deal with the expense and hassle of moving again,” and you will also have the chance to “familiarize yourself with the property and neighborhood,” said Redfin.

Are there downsides to rent-to-own?

Definitely. For one, “if you change your mind or you can’t buy the home when the time comes, you could lose a lot of money,” said Investopedia. “At a minimum, you will lose your option fee,” and “if you signed a lease-purchase contract, you could face more financial fallout.” Even if you feel confident you will follow through, tread carefully: “Often, the contract terms are so rigid that the renter winds up defaulting and losing all the money,” said The New York Times.

Further, while it may sound smart to lock in a home purchase price when you sign the contract, often years ahead of purchase, this might not actually end up being a great deal. “That price is often higher than the home’s fair-market value,” said the Times, citing Karen E. Brown, the director and managing attorney of the Home Defense Program at the Atlanta Legal Aid Society. Often, the “inflated prices cause problems when the property is appraised for a mortgage.”

Bereaved families could be in line for thousand of pounds of compensation from National Savings & Investments (NS&I) after the government-backed bank admitted failing to trace accounts of dead customers.

A “catastrophic operations failure”, said The Telegraph, meant money belonging to 37,500 dead savers has been withheld from their families.

NS&I has said claims with a total value of up to £476 million in customer deposits “may have been affected”.

The savings organisation’s chief executive Dax Harkins has stepped down following the scandal, and has been replaced by former HMRC boss Jim Harra.

What has gone wrong at NS&I?

NS&I has been accused of “short-changing bereaved families” after losing track of investments, delaying payouts, and withholding prizes for its popular Premium Bonds, said ThisIsMoney.

Some families, said The Guardian, had resorted to paying lawyers to “recover their money”. NS&I has apologised and said its search process “failed to identify” all products when handling bereavement claims, which it said has now been fixed.

It’s not the first bit of “negative publicity” for NS&I, said Sky News, after the bank’s £3 billion digital transformation project was criticised by MPs for exposing “the taxpayer to additional risk”.

Who is affected by the missing payments?

Pensions minister Torsten Bell told MPs that around three-quarters of the cases relate to the period between 2008 and 2025.

NS&I has said up to 37,500 bereavement claims may have been affected, adding that it received 211,800 new bereavement claims and repaid £4 billion last year.

How much are people owed from NS&I?

The cases cover accounts worth an estimated £476 million, according to NS&I, which “works out at roughly £12,693 on average per person”, said ThisIsMoney.

The government has indicated families should have their funds returned, including interest and compensation.

How can bereaved families claim?

The government has confirmed “impacted customers” will be remunerated, said Metro, but “exact details” haven’t been announced yet.

NS&I has confirmed it will ensure savers’ estates are “appropriately compensated” and will reveal more details in May. It has also hired 100 more staff members to contact those affected.

You “don’t need to do anything” if you have recently made a claim or have an ongoing one, said NS&I, as it will be responsible for contacting beneficiaries.

This also means those affected won’t need to use a claims management company or solicitor, said MoneyWeek, “to be reunited with their money”.

The “silver lining”, said The Guardian, is that the money is 100% safe as NS&I is government-backed. So the main issue is “marrying it up with the owner, not the security of funds”.

High inflation is bad enough on its own — but what about when it comes with high unemployment and stagnant economic growth? This pairing is what is known as stagflation, a rare economic phenomenon. And lately, concerns are cropping up that the U.S. economy could be showing signs of it.

“Persistent inflation above the Federal Reserve’s target and the job market slowdown had already prompted worries,” said CNBC. Then “surging oil prices due to the Iran war” entered the equation, bringing to mind the “oil supply shocks that led to shortages and long gas lines Americans saw during stagflation in the 1970s.” Still, many experts, including Federal Reserve Chairman Jerome Powell, maintain that the risks of stagflation reoccurring remain low.

What is stagflation, and why does it happen?

Stagflation — a blend of the words inflation and stagnation — refers to the combination of “stagnant economic growth, high unemployment and persistent inflation,” said Investopedia. This is a pattern that “defies traditional economic models, which typically show inflation rising during strong economic growth and falling during recessions.”

Often, stagnation is attributed to supply-chain disruptions, such as to the oil supply. This can result in “a shortage of crucial goods or commodities,” which in turn “can lead to higher prices for consumers and a slowdown in economic growth,” said Yahoo Finance.

Another driver can be monetary policy decisions made by the Federal Reserve. For example, an “easy monetary policy where interest rates are being lowered combined with a tight fiscal policy can lead to wage retaliation if taxes remain too high,” said Kiplinger. “As workers demand higher wages, businesses may reduce employment and pass the higher costs onto consumers by raising prices.”

What are the risks of stagflation?

One of the “most noticeable effects of stagflation is higher prices for goods and services,” which can lead consumers “to spend more for everyday expenses and even take on debt to keep up with higher costs,” said Yahoo Finance. Additionally, people may experience “fewer job opportunities, lower wages or layoffs” as businesses instate cost-cutting measures to deal with the effects.

Together, this can make it more challenging to save and invest, which can have ripple effects down the road for people financially.

How can you protect yourself from stagflation?

To be clear, it is still up for debate whether or not the U.S. is nearing, or actually even showing real signs of, stagflation. Still, many of the steps you can take to prepare happen to be generally good financial practices anyway, including:

• Set aside money in savings, ideally a high-yield account, and make sure your emergency fund is well-stocked.
• Pay down debt — particularly high-interest debt like credit card debt.
• When it comes to investing, “stay the course and diversify,” said Kiplinger.
• Pay some attention to your career, whether that is by learning new skills to increase employability or exploring ways to boost income.

Getting a refund when you file your taxes is a nice financial boost. This year, there are claims that tax refunds could be bigger than ever before.

President Donald Trump has said “this will be the ‘largest tax refund season of all time’ following the 2025 changes enacted via his ‘big beautiful bill,’” said CNBC. The White House in January released an estimate saying the “average refund could increase ‘by $1,000 or more,’” said CNBC. But will refunds actually be bigger — and if so, will yours be among those that are? Here is what to know.

What is the average tax refund for 2026?

The average tax refund this year is “higher by about $350, or nearly 11%, when compared to last year, according to the latest Internal Revenue Service data as of March 13,” said CNN. At its highest point so far this tax season, the average refund size “peaked at $3,804 on Feb. 20, an increase from $3,453 about one year prior,” before that average “gradually declined over the next two weeks,” said CNBC.

However, the deadline for tax filing is not until April 15, which means that the average could very well shift, though “refund sizes typically level off after late February,” said CNN, citing Erica York, the vice president of federal tax policy at the Tax Foundation.

How did the One Big Beautiful Bill Act impact tax refunds?

The One Big Beautiful Bill Act (OBBBA), signed into law in July, introduced a number of changes that could affect how much money people get back this tax season. Alongside making permanent many provisions that were set to expire and would have increased many people’ s tax bills, the bill introduced four new tax deductions: deductions for tips, overtime pay, new car loan interest and seniors age 65 and up.

Additionally, “standard deductions have been adjusted for inflation twice for 2025,” said Experian — once as part of the “regular 2025 inflation adjustments” and then “again with the passage of the OBBBA.” At the same time, “tax brackets have been adjusted by about 3%” for 2025, a change that “can reduce the amount of tax you pay by taxing more of your income at lower rates,” said the outlet.

Lastly, “when the OBBBA was passed into law, the IRS did not update withholding tables,” which meant that “some taxpayers became eligible for additional deductions but were still paying more toward taxes with each paycheck,” said Yahoo Finance. As a result, those taxpayers may get more money back than usual.

What else affects the size of your tax refund?

While deductions, tax brackets and excess withholdings can all certainly influence the amount of your tax refund, they are not the only factors determining how much you get back, if anything. Other things that may have an impact include:

• Any changes in eligibility for tax credits
• A change in income, or the addition of side income
• Changes to your tax filing status
• The sale or purchase of a home
• Updates to your retirement account contributions
• Capital gains, interest or dividends from investing

So before you go betting on a bigger-than-ever tax refund this year, realize that the reality actually comes down to your specific financial and tax situation. If you are in luck, that could mean more money back from Uncle Sam.

Abuse can take many different forms. One that may be less easily visible but still seriously damaging is financial abuse. This occurs when someone wields money and access to it as a form of control over someone else. It can look like aggressively monitoring spending, forcing reliance on them for cash, withholding access to funds or even actively sabotaging employment opportunities or financial standing.

Financial abuse is unfortunately not so uncommon — research indicates that it occurs in “99% of domestic violence cases,” said the National Network to End Domestic Violence (NNEDV). This form of abuse can often perpetuate a given situation, too, as “surveys of survivors reflect that concerns over their ability to provide financially for themselves and their children was one of the top reasons for staying in or returning to an abusive partner.”

What is financial abuse?

Financial abuse, also referred to as economic abuse, is “where a partner — or ex-partner — controls money and finances, taking over the decisions on anything from spending and bills to bank accounts and loans,” said The Money Pages, a financial website. At its root, financial abuse is typically about control over another individual, as overseeing or restricting a victim’s access to necessary financial resources can force them to be dependent on the abuser.

This form of abuse “rarely happens in isolation and usually occurs alongside other forms of abuse, including physical, sexual and psychological abuse,” said Surviving Economic Abuse, a registered charity for the cause.

What are some of the warning signs of financial abuse?

Since financial abuse “doesn’t always involve physical harm, it’s often hard to recognize, even by its victims,” said TD Bank. Abusers may use a “wide range of tactics to gain and maintain financial control,” which can also make it harder to identify confidently.

Common signs of financial abuse can range from fairly subtle to more overt, including:

• Control or intense scrutiny over any spending
• Restriction of access to funds and accounts
• Secretiveness or refusal to share information about financial situation
• Sabotage of or interference with your ability to work
• Theft of your income or other property
• Refusal to contribute to or help with household costs, or other misuse of funds
• Accrual of debt in your name, or other damage to your financial standing

What can you do if you or someone you know is a victim?

If you believe that you or someone you know is the victim of financial abuse, it is important to get help. There are a number of resources available to turn to:

The NNEDV's Financial Abuse Toolkit

The National Domestic Violence Hotline

Local programs that support victims of financial abuse

Understand that getting out of the situation can be difficult, and even risky, but it is possible to do so. Communication is critical, as is slowly taking steps to find financial safety once again, whether that means changing passwords, ensuring access to independent resources going forward or seeking out expert guidance and support to rebuild.

When you are in a tight spot for money and you have a sizable balance in your retirement account that won’t be needed for years to come, it can be tempting to go ahead and tap into it. You can just restock it later, right? The problem: this does not always end up happening. Plus, you will lose out on the compound interest that would have accrued, which can materially affect your available savings come retirement.

Last year, a “record 6% of workers in 401(k) plans administered by Vanguard Group took a hardship withdrawal,” marking the “sixth straight year of increases since 2018, when Congress made it easier to take a hardship distribution,” said The Wall Street Journal. Many people are facing real financial challenges: The “top reasons for taking hardship withdrawals last year were avoiding foreclosure and eviction and paying medical expenses.” But when you are in this situation, there are other places to turn outside of the money set aside for your golden years.

Your emergency fund

If you have built up an emergency savings fund, this is the time to use it, as opposed to raiding your 401(k) balance. This is “why you have emergency savings in the first place,” said Bankrate. Just make sure that if you do tap into it, you replenish the balance later, and that you are saving in a high-yield account to maximize interest earnings.

Friends or family

If you have friends or family members who might be willing to help, share your situation with them. “Though it can be difficult to ask, borrowing from someone you know could be a fast and affordable solution,” as you will avoid a credit check and, depending on the situation, interest payments, said NerdWallet. Just make sure to approach the arrangement thoughtfully, with clear communication and an agreed-upon repayment plan, to avoid future conflict.

A home equity loan or line of credit

If you own a home and have built up equity in it, a home financing product — like a home equity loan or a home equity line of credit (HELOC) — can “provide a cost-effective method of accessing extra cash,” said SoFi. Interest rates on these loan products are typically lower because they are secured loans, meaning they are backed by your home. However, this also means that in case of non-payment, the lender can seize your house, which is a risk worth keeping in mind before proceeding.

A personal loan

Another option you might consider, if you do not have a home to borrow against or do not want to put it on the line as collateral, is a personal loan. Personal loans are “available from online lenders, local banks and credit unions and can be used for virtually any purpose,” said SoFi. These loans are also unsecured, which means you do not have to put anything on the line to take one out — though that can also mean they may have slightly higher interest rates.

Losing your job can bring up a lot of things. There is an emotional component as you leave behind your old position and team and there is also a logistical one, both in terms of what your next steps will be in your career, and how you will get by for a while without a steady paycheck.

For those with student loan debt, one of the big financial questions after a job loss is how they will continue to make monthly payments. While it may be tempting to table the issue for later, once you have worked through the initial fallout from losing your job, postponing the issue could end up making things more challenging down the road. Here are three steps you can take to manage your loans.

Inform your loan servicer

The first thing you should do student loan-wise after losing your job is to get in touch with your loan servicer. The “earlier you contact your loan servicer, the more options you’ll have,” said ELFI, a lender offering private student loans and refinancing. Be transparent about your situation, and find out what relief options are available to you. Your lender can walk you through the choices and help you figure out what might make the most sense.

Look into alternative repayment plans to reduce payments

Depending on the type of student loans you have and your specific lender, you may have access to different repayment plan options; these could allow you to lower the amount that is due each month. When you are working on a constrained budget after a job loss, this can make a major difference, allowing you to continue making progress on repayment without forking over more than you can reasonably afford

For instance, “federal student loan borrowers who are laid off from their jobs — or just not earning enough — are usually able to sign up for an income-driven repayment plan and get a lower payment, or even a $0 bill,” said CNBC. Those with private loans generally do not have this option, but their lender may instead offer loan restructuring, where you get an “extended loan term that makes your payments more affordable,” said ELFI.

Consider deferment or forbearance for a pause

If continuing to make payments does not seem tenable, you can consider exploring taking a pause entirely, either through deferment or forbearance. For federal loans, “borrowers can pause payments for up to three years with a student loan unemployment deferment,” said NerdWallet. Meanwhile, forbearance is “typically limited to a few months at a time,” said Bankrate. Some private lenders may offer these options, though not all do, and availability varies by lender and loan type. Before proceeding, just make sure to note the implications of a pause, namely whether interest will continue to accrue during it.

Student loan refinancing is often billed as a way to expedite and simplify student loan repayment. And it certainly can be: By replacing your existing loans with a new one, you can potentially score a lower interest rate, and you will have just one payment due date to keep track of. But refinancing is not the right strategy for everyone.

In general, it’s a move that tends to make sense if you have private student loans and if your credit score and income are “high enough to qualify you for a lender’s lowest interest rates,” said NerdWallet. However, in the following four instances, you may want to reconsider or at least think twice.

1. You have federal loans and may want those benefits

While technically you can refinance either private or federal student loans, refinancing federal loans is “riskier” because when you do, “you’re no longer eligible for federal benefits and repayment options,” said U.S. News & World Report. This includes options like income-driven repayment plans, where your payments are modified based on your income and family size, as well as temporary repayment relief options like student loan forbearance.

Even if you do not need those options right now, it is important to consider whether there is any chance you will down the road. For instance, “if you lose your job or have to take a pay cut, making student loan payments can become more difficult, especially because private lenders don’t offer much support in times of need,” said Student Loan Planner.

2. You are pursuing student loan forgiveness

Also under the umbrella of federal benefits you will lose if you refinance — though worth calling out on its own — is student loan forgiveness. “Refinancing federal loans makes them ineligible for federal loan programs including Public Service Loan Forgiveness and Teacher Loan Forgiveness,” said NerdWallet.

If you are progressing along on either of those options — or if you are far along on an income-driven repayment plan, which will wipe away any remaining debt after 20 or 25 years of payments — then refinancing is likely not in your best interest.

3. Your interest rate would not change much

For refinancing to make sense savings-wise, the interest rate you get on your new refinance loan needs to be noticeably lower than it is on your current loan(s). If your student loan “already has a decent rate or you don’t qualify for the lowest rates, the savings with your new loan may not be significant enough to bother with refinancing,” said Student Loan Planner.

Generally, the biggest factor in landing a much better rate when you refinance is solid credit, though lenders will also take into consideration your overall financial situation, including your income and your other debt obligations.

4. You are close to paying off your loans

While you might think refinancing could help push you over the finish line on paying off your student loans, it may not work out that way. At this point in the game, “it doesn’t make sense to do something as risky as refinancing,” where you are changing up your loan terms entirely, and “because you’re close to paying down your debt, any refinancing benefits would be minimal,” said U.S. News & World Report. Instead, stay the course and relish the fact that the end is near.

The one thing that can sweeten the slog of filing your tax return is finding out you are getting money back once you hit submit. A tax refund can be a nice little financial windfall, offering a cash infusion to put toward paying down debt, bolstering your savings or inching closer to your financial goals.

However, the exact amount of your refund — and whether you even get one at all — will vary depending upon the specifics of your return. While many of these determining factors are not changeable, especially not shortly before tax time, there are some last-minute steps you can take to potentially increase the amount of your refund, allowing that money to stretch that much further in your financial life.

1. Make sure you are maximizing deductions

Tax deductions and credits are two easy ways to possibly shave down the amount of your money that goes to Uncle Sam. They work in different ways, though: Deductions “lower your taxable income, which in turn can reduce your tax bill,” while credits “offer a dollar-for-dollar tax reduction,” said H&R Block.

When you go to file, make sure you are aware of any deductions or credits you are eligible for, and that you are claiming them. Some common ones to be aware of are the student loan interest deduction, the Saver’s Credit for certain taxpayers contributing to an eligible retirement account, the Earned Income Tax Credit, and various credits for those caring for children and other dependents.

2. Increase contributions to your IRA or HSA

If you have either an independent retirement account (IRA) or a health savings account (HSA), upping your contributions can reduce your taxable income, which can help boost the refund you get.

While it may seem counterintuitive, you can actually “still make prior-year contributions to a traditional IRA up until the 2026 tax filing deadline,” and the same goes for an HSA, said Yahoo Finance. For the 2025 tax year, you can contribute up to $7,000 to an IRA ($8,000 if you are age 50 or older), and up to $4,300 to an HSA as an individual ($5,300 for those 55 and up, or $8,550 for families).

3. Be strategic when selecting your tax filing status

One of the “first decisions you make when completing your tax return — choosing a filing status — can affect your refund’s size, especially if you’re married,” said Intuit TurboTax. That is because your tax filing status determines what tax bracket you are in, as well as the amount of the standard deduction and your eligibility for certain tax credits.

Often, it is straightforward which filing status applies to you — but that is not always the case. For instance, “many taxpayers who care for elderly parents don’t realize they can claim head of household status,” which is available “if you provide more than half of your parent’s financial support — even if your parent doesn’t live with you,” said Intuit TurboTax. Also, while filing jointly is usually the more tax-efficient choice if you are married, in some cases, filing separately can yield a higher tax refund.

President Trump has a new plan for the government to “give millions of workers a $1,000 a year to boost their retirement savings,” said Michelle Singletary in The Washington Post. During his State of the Union speech last week, Trump said that 54 million workers without access to an employer-sponsored retirement plan will soon be able to open tax-advantaged accounts similar to those for federal employees—and the federal government will match contributions up to $1,000 each year. The idea of matching contributions “piggybacks on a retirement savings program established” during the Biden presidency. But the wrinkle in Trump’s new plan is that he wants more workers to be able to access “the federal government’s low-fee workplace investment program,” and be able to, in his words, “profit from a rising stock market.” But as with many Trump pronouncements, what he says may be “too good to be true.” To qualify for the full $1,000 match, workers would have to put in at least $2,000 per year. That’s a lot to ask of workers currently “struggling to pay for housing and health care.”

Still, the arrival of this option is “welcome news for the millions of Americans without access to a workplace retirement plan, much less an employer match,” said Emily Peck in Axios. Fewer than 20% of America’s lowest earners have a 401(k) today, and Social Security alone isn’t going to cut it for many of them. There are “real policy chops” behind this proposal, which arrives “at a moment when policy wonks are rethinking” a broken retirement system. It’s not hyperbolic to say this could be “one of the most consequential administrative actions in decades,” said Teresa Ghilarducci in Forbes. Millions of workers have “no retirement wealth simply because they lack access to payroll-based savings.” That maps “directly onto income inequality.” Trump’s action won’t “resolve the retirement crisis,” but it will help reduce this “persistent coverage gap.”

This plan has already been tried, said Kathryn Anne Edwards in Bloomberg. In 2015, former president Barack Obama launched MyRA, a program “similar to today’s Trump Savings Plan” that introduced voluntary benefits to those without workplace retirement accounts. What happened? After two years, only 30,000 people joined, and it was “abruptly ended by the Trump administration in 2017.” MyRA failed because “Congress needed to approve auto-enrollment, and it didn’t.” Research has conclusively shown that “what ‘works’ about 401(k)s” is automatic enrollment, which “supersedes” the greatest obstacle to savings: inertia. However, auto-enrollment requires legislation from Congress. “There is great potential for the federal government to help Americans struggling with financial insecurity,” but a White House announcement isn’t going to do much.

With the weather finally thawed and kids out of school, spring and summer are the busiest seasons for homebuying. This can mean more options to choose from on the market — but it can also mean more competition.

Going through the work of putting together an offer on a house you are excited about, only to get beat out by other buyers, can feel like a major letdown. So, how can you make your home offer stand out if you are wading into a hot housing market? From having your own affairs in order to being flexible and savvy in the offer you craft, here are some tricks you can implement to improve your odds of winning out.

Have everything in order before bidding

If you are trying to buy in a fast-moving, competitive market, it is vital that you have all your ducks in a row before you get to the point of submitting an offer on a home. This means working with an experienced, knowledgeable real estate agent you can trust, and already having mortgage preapproval in hand, so you have a ballpark idea of how much you will actually be able to borrow.

The former will help you ensure you are putting your best (and most strategic) foot forward when you make an offer, and the latter will provide peace of mind for the seller, given that “in a competitive market, sellers will likely have multiple offers to choose from and will look for a buyer who is able to close on the sale,” said Zillow.

Understand the market, the property and the seller

When it comes to this, the real estate agent you work with can make all the difference. “Their deep market knowledge allows agents to identify accurate comparable listings and help buyers price offers more strategically,” said USA Today. They will also “know how quickly homes are selling in a given area and can communicate quickly and effectively with listing agents.”

An agent can often get insight into what is most important to a particular seller — whether that is a quick closing timeline, the security of a cash offer or an above-listing price — and help ensure your offer checks those boxes.

Consider ways to sweeten your offer

Depending on what feels reasonable and is doable for you, there are a number of steps you can take to make your offer more enticing, including:

Increase your earnest money deposit. This is a deposit made upfront to demonstrate your seriousness about and ability to purchase the home. Typically, it is “around 1% to 3% of the purchase price,” but “in a competitive market, you may choose to increase this to 5% or higher to stand out and prove your commitment,” said Investopedia.

Add in an escalation clause. With an escalation clause, your offer automatically increases, up to a specified maximum, if another buyer in the running outbids you. This can “help you stay in the running if another offer comes in for slightly more than yours,” said Rocket Mortgage, though it is not always necessary or even allowed in certain markets.

Offer concessions. Offering the seller concessions can “make your offer more attractive,” said Rocket Mortgage, though it is also vital here to ensure what you offer is workable for you. Common examples of concessions include offering to pay certain fees, such as the agents’ commission or the seller’s real estate attorney fees, or purchasing the property as-is.

You have found a home and made an offer. Now, you are ready to apply for a mortgage. While you may have dipped your toe in by getting preapproved prior to home shopping, the process of formally applying for a mortgage is much more involved.

You can expect the first step — applying and deciding what lender to work with — to take “up to one week,” said U.S. News & World Report. After that, you can anticipate another “three to four weeks” for underwriting and loan processing, and then “up to one week” to wrap everything up and close on your new home. Here is the exact timeline breakdown.

1. Submit your application for a mortgage loan

Once you’ve “had your purchase offer accepted and you’re under contract for the property you want, you can get official loan estimates from the lenders you got preapproved with,” said U.S. News & World Report. This requires filling out a mortgage application, usually online, and providing a great deal of information, including information on your employer and income, your assets and debts, your credit history and the property you intend to buy. Be prepared to provide supporting documentation, which ideally you will have compiled during your preparation for applying.

Once completed, you will need to sign and then submit your application. “Sometimes, to begin processing of your application, the lender may require a fee of $100 to $500 that covers the cost of pulling your credit report and obtaining an appraisal of the property’s market value,” said Kiplinger.

2. Review loan estimates and select a lender

If a lender accepts your application, within three business days, they will provide you with a loan estimate. This is an “estimate of the final loan costs at such a point in time based on the information relied upon by the lender,” said Zillow, and it is an essential document for accurately comparing total costs between different lenders.

Pay special attention to “compare their closing costs and interest rates, using the best offer to try to negotiate your loan terms, because some lenders will match interest rates or offer discounts,” said U.S. News & World Report. This can lead to major savings.

3. Undergo loan underwriting and processing

Once you have committed to a lender, the process of loan underwriting begins. This usually takes “between 30 and 45 days,” though potentially much longer, and is a time during which “your lender verifies your financial situation before deciding whether to approve your loan application,” said Rocket Mortgage. Specifically, the lender will “review your documents and details of your income, assets, debts, credit and the property you’re applying to buy,” and this will include ordering a property inspection. You may be asked to provide additional information.

After this process is completed, underwriters will give the final word on your loan application, which may be “to accept the loan as it is proposed, reject it or approve it with conditions,” such as that “you supply more information about your credit history,” said Investopedia.

4. Review your Closing Disclosure and close on your home

At least three days prior to closing, the lender “issues a Closing Disclosure outlining your finalized loan terms, monthly payment and closing costs,” said Kiplinger. Review this carefully to make sure there are no discrepancies or surprises. If everything looks good, you can move forward with scheduling your closing and a final walkthrough of the house that is about to be yours.

Hundreds of thousands of Britons have been stranded across the Middle East by the Iran conflict and many more could see holidays cancelled due to flight restrictions and airport closures.

However, people who purchased travel insurance to protect against such disruption might be out of luck.

Travel insurance often excludes protection against war, said the Daily Express, so “you may not be covered by your holiday insurance at all”.

How travel insurance works

Travel insurance typically covers a “range of possibilities”, said MoneyHelper, such as lost luggage, medical care and disruptions including delays and cancellations.

But unless you have a specialist policy, most standard travel insurance won’t include losses linked to a war, “meaning disruption to your trip”, said the Association of British Insurers. Extra costs you may have, such as food and hotels, may not be covered.

There may be some protections if government guidance on a destination changes after you booked, such as if the Foreign Office advises against travelling to a country.

If the guidance changed after you booked, said Axa, travel insurance coverage “may apply” and your policy may cover you for getting home or let you cancel your trip and get a refund for flights, hotel bookings and tours.

Travel disruption rights explained

It is always worth checking with your airline or travel provider when there is disruption such as delays or cancellations before claiming on your travel insurance. Most travel insurance policies “don’t cover claims if the losses can be recovered from another source”, said the Financial Ombudsman Service.

As the Foreign Office guidance changed on the Gulf, customers who have already booked have the right to cancel a package holiday.

If you are stuck in a destination such as Dubai or Abu Dhabi, package holiday operators “have an obligation to book you on the next available flight home”, said The Sun.

Airlines typically have to pay compensation if they are at fault for a delay. But those flying in and out of the UK and European Union, or with a non-UK or non-EU airline, should not expect redress, as the airlines are not at fault for the outbreak of war. However, there is a duty of care for airlines to look after affected passengers. This means they should help with rearranging flights and provide food, drink and accommodation.

But don’t rush to take a refund from your airline while you are stranded as “it manages down the problem at little cost to the carrier”, travel expert Simon Calder said in The Independent. You are better off hanging on to your ticket and “hope that eventually they come up with an alternative journey for you”.

It is also worth checking if the local destination is providing support. The United Arab Emirates has publicly said that it is “bearing accommodation and hosting costs for affected passengers” amid the Iran conflict, said Condé Nast Traveller, so many travellers “won’t need to pay for hotels at all” and won’t need to claim on insurance. However, you may still need your insurance for “extra expenses” such as missed onward connections or medical costs.

Investing introduces a seemingly endless array of options. Often, funds are touted as a great way to avoid fully committing to any one investment, as they allow you to own a diverse group of assets with just one purchase. But even when you go to look at investment fund options, you’ll find that there are a myriad to choose from.

Two of the most common you will likely come across are ETFs, or exchange-traded funds, and mutual funds. But how do they differ, and how can you know which one is the right fit for your portfolio? Read on for the breakdown.

How do ETFs and mutual funds differ?

Admittedly, ETFs and mutual funds do have a lot in common. “They are both relatively liquid baskets of stocks, bonds and other assets overseen by professional money managers, and can help investors diversify their portfolios,” said CNBC.

However, they also have some distinctions “that may make one a better financial choice than the other for certain investors,” said the outlet. These include:

Management: One big difference is in how the funds themselves are managed, which in turn impacts both the cost of investing and your potential returns. Generally, mutual funds tend to be actively managed, which means the “fund’s manager picks and chooses securities to buy and sell, and when to do so,” said Bankrate. By contrast, ETFs are more often passively managed, meaning the “fund manager doesn’t select the investments but rather mimics an index that’s already been selected, such as the S&P 500.”

Cost: Passive investing tends to be less costly, and that generally holds true for ETFs vs. mutual funds, with ETFs usually being “significantly cheaper for investors to own than mutual funds,” said CNBC. Additionally, ETFs tend to be more tax-efficient.

Buying and selling: Another major difference is in how you can buy and sell these investments. While ETFs trade on an exchange, just like stocks, allowing for buying and trading at any time the market is open, mutual funds are not priced until the end of the trading day. So although investors technically can place trades at any point in the business day, they “won’t know their transaction’s exact price per share until the end of the day,” said CNBC.

When can ETFs be a good fit for your portfolio?

Ultimately, whether an ETF or a mutual fund makes more sense for your portfolio “all depends on your goals and the type of investor you are,” said Schwab, as well as the specifics of the particular fund. For example, if you are a passive investor focused on tax efficiency and cost savings, a passively managed ETF may be the right move; this can also make sense if you tend to trade actively, as various types of trades “are possible with ETFs, but not with mutual funds,” said Schwab.

When could mutual funds make more sense?

Mutual funds tend to be a better choice for investors who prefer a more active management style, as they are more likely to align with that. Investing in mutual funds can also make sense depending on your specific investment account. For instance, 401(k) plans “often invest in mutual funds and don’t have an ETF option,” and some plans, as well as brokerage accounts, also “allow automatic contributions to mutual funds,” said Bankrate.

Whether it is because you are juggling too many bills, your budget is stretched thin or you simply overlooked the due date, you have missed a student loan payment. What happens next?

The unfortunate — though perhaps unsurprising — reality is that missing a student loan payment does carry consequences, ranging from late fees and credit damage to collections calls and even wage garnishment. How severe the consequences get, however, depends on how long the debt remains outstanding, which is why prompt action in this situation is essential.

What happens if you do not pay your federal student loans?

The distinction of a missed federal student loan is important to note here, because “what happens to you ultimately depends on the type of student loan you have: federal or private,” said Ramsey Solutions, a personal finance website.

Just one day after you miss a payment, your federal loan is considered delinquent. Late fees do not kick in until 30 days after a missed payment, though it is important to note that “all federal student loans issued after 2010 are part of the Federal Direct Loan program, which means that they do not incur late fees,” said NerdWallet.

If 90 days have passed and you still have not made any payment, then the servicer will usually report that to credit bureaus, which will then add it to your credit report, where it will remain for seven years. “This can lower a credit score by over 150 points, according to a 2025 report by the New York Fed — making it harder for you to open a credit card, rent an apartment or even get a cell phone plan,” said NerdWallet.

After that, if non-payment continues for 270 days, your loans will enter default. This carries even more serious consequences, potentially including wage garnishment.

How do the consequences of missed payments differ for private loans?

The biggest difference is that “private lenders usually give you less leeway than the federal government when you miss student loan payments,” said SoFi. Unlike with federal loans, when there is a standard timeline with defined consequences, individual lenders get to determine their own policies.

As a result, “you could see higher late fees” and credit damage “after just 30 days,” and “your loan might default after just 90 days,” said NerdWallet. Additionally, private lenders can sue you for the money you owe.

How can you avoid missing student loan payments?

Digging yourself out of the hole that missing a student loan can create is not an easy task. You are better off avoiding the scenario in the first place, which you can do by:

• Setting up autopay, if you have a tendency to forget your payment due date.
• Looking for ways to lower your student loan payments, if the amount is what is causing you to risk missing a payment.
• Talking to your lender, if you have hit a personal or financial roadblock that is temporarily preventing you from being able to pay.

A home inspection is a critical step in the homebuying process. While buyers typically see a property during an initial viewing, an inspection allows for a deeper dive into the house and an assessment of any issues it might have.

This is valuable information, given how major an investment a house is, and the fact that when you become the owner, you also become responsible for any problems that may arise, or that already exist. A thorough and detailed report can give you the confidence to move forward with the deal, the backing to ask for compensation for needed repairs or the understanding that it is in your best interest to walk away.

1. Understand your state’s inspection standards

To know what you can expect to get from a home inspection, it is first important to understand the standards your state has for them. “Currently, 35 states require home inspectors to be licensed, although the requirements vary widely,” said The Wall Street Journal, citing James Thomas, the executive director of the American Society of Home Inspectors. The remaining 15 states “regulate inspectors by statute,” though these “guidelines are typically less rigorous than the requirements for licensing.”

It is also good to note what an inspection in your state is required to inspect, and what may be missing from that list. Keep in mind that home inspection is “a noninvasive, visual review of a home’s structure and major systems,” which means it “doesn’t include such things as punching holes in walls to check electrical or plumbing,” said Rocket Mortgage.

2. Be an active and attentive participant in the inspection

When “walking through a home you’re considering, keep a critical eye (and a critical nose) open,” looking out for any “stains on walls and, especially, ceilings” as well as red flags like a “mildew smell,” said The New York Times. Make sure to bring anything you notice to the attention of your inspector. Do not hesitate to ask them questions.

Since a home inspection is so critical, it is also vital to ensure you can give it your full attention. As such, “this is definitely an instance where you’ll want to drop off your little one at grandma’s and leave your dog at home, because both you and the inspector need to be able to focus on the inspection,” said Consumer Reports.

3. Involve other expert opinions, if necessary

Remember: The inspector is not necessarily the end of the road when it comes to investigating issues with your potential future home. “Uncovering concerns like termite damage, old wiring inside walls (even if the electrical panel is modern) and buried oil tanks (in older homes that once had an oil furnace) will require separate, specialist checks,” said the Times. It is therefore worth asking both “your agent and inspector about common troubles in your area” for investigation on those sorts of matters.

If your inspector does flag any concerning issues with a home, you will likely want someone with particular expertise in that area to come take a closer look. For instance, if “your inspector finds worrisome foundation cracks,” you may consider hiring a “structural engineer or an architect to check it out more thoroughly,” said Consumer Reports.

The catch-22 of building credit is that you need to have access to and use credit in order to improve your credit. But often, without a solid score or an established history, it is difficult to qualify for borrowing opportunities, such as credit cards, in the first place.

A secured credit card can make landing an opportunity to prove yourself, credit-wise, a bit easier. While you will have to be in the financial position to hand over an initial cash deposit, from there, if you use your account responsibly, you can start moving on up in the credit world and eventually access better cards.

What is a secured credit card?

A secured credit card works much like a regular credit card, except for the fact that a security deposit is required when you open the account. This deposit “reduces the risk to the credit card issuer: If you don’t pay your bill, the issuer can take the money from your deposit,” said NerdWallet. This is why secured credit cards are generally easier to qualify for and more accessible to those with poor or no credit.

Secured cards tend to have lower credit limits compared to the more standard unsecured credit card, with the limit typically equal to the amount of the cash deposit made upon account opening. So, for example, if you “make a $200 security deposit, you’ll receive a $200 credit limit,” said CNBC Select.

How can a secured credit card help establish credit?

One of the “biggest pros of secured credit cards is that they’re available to customers with poor or limited credit,” said WalletHub. This is primarily because secured credit cards are backed by collateral — that initial security deposit — which the issuer can seize if payments are not made. Unsecured credit cards, by contrast, are backed only by the cardholder’s creditworthiness, which is why for these cards, an applicant’s credit score and history are weighed heavily.

Still, unsecured credit cards “report account activity to the major credit bureaus just like unsecured cards do,” which means “cardholders can begin to rebuild or establish credit by using the card responsibly,” said WalletHub. Responsible use means consistently making on-time payments and maintaining a low credit utilization ratio by not using too much of your total available balance at any one time.

Are there any drawbacks to secured credit cards?

Depending on your financial situation, coming up with the initial deposit required for a secured credit card may not be easy, especially since those funds will continue to be tied up while you have the card open. The “required security deposit typically starts at $200, but you may have the option to make a larger or smaller deposit,” said Experian.

Just keep in mind that this deposit typically represents your credit limit, or the amount you can spend with the card. Not only can a low limit “reduce your financial flexibility,” it “also makes it easy to use a high percentage of your available credit, which can negatively impact your credit score,” said Experian.

Plus, while it is generally easier to get approved for a secured credit card, “you’ll still need some kind of income to be approved,” and a “major negative on your credit report, such as non-discharged bankruptcy, may also prevent you from qualifying,” said WalletHub. If you are approved, paying off your balance in full is essential — not only for building credit, but also because the APR on a secured card is typically higher.

While it is legal to bet using online prediction markets in the United States, pushback has begun against a practice that many states say is harmful to their residents. Officials have initiated numerous lawsuits against major betting platforms like Kalshi and Polymarket, but they may face an uphill battle as these prediction markets continue to grow more popular.

At least 20 lawsuits nationwide

Many states have alleged that the online prediction community is essentially a front for gambling. At least 20 federal lawsuits have been filed nationwide, “disputing whether companies such as Kalshi and Polymarket should be treated as federally regulated financial exchanges, as they maintain,” said The Guardian. But the lawsuits claim these companies are “gambling operations that should be regulated like state-licensed sportsbooks.” Polymarket was previously banned in the U.S. but was largely reinstated in 2025.

These lawsuits say the industry is harmful because companies “let users trade on the outcome of virtually anything, ranging from sports and elections to award shows, speeches and even what someone might wear,” said The Guardian. The users essentially bet against each other while platforms collect transaction fees, differing from casinos where players bet “against an established ‘house.’” These companies fall under “federal commodities law and are currently overseen by the Commodity Futures Trading Commission rather than under state gaming regulators,” making the platforms available in all 50 states.

One of the most notable lawsuits is in Nevada, where the state’s “effort to block the prediction market platform Kalshi is moving through multiple courts,” said NBC News. Officials in Nevada allege that Kalshi, “through its prediction market contracts, is offering people a way to illegally bet on sports,” though Kalshi maintains it is just a financial exchange platform. But many of these lawsuits are also facing their own headwinds. In “Massachusetts alone, Robinhood and Polymarket have sued to block” legal maneuvers by the attorney general, said Bloomberg Law.

‘A full-blown war’

As the lawsuits continue, there are also political aspects to the rift between lawmakers and prediction markets. This has “escalated into a full-blown war, and battle lines aren’t being neatly drawn along party lines,” said Wired. Liberals and conservatives often find themselves defending the same cause. One side “argues that the platforms are breaking the law by operating as shadow casinos. The other insists they are just giving people access to legitimate financial markets already subject to adequate government oversight.”

Prediction markets have also become “entrenched in mainstream culture, a transformation that has brought vast sums of money into play,” said Wired. But in court, challenges to “sports prediction markets have won early victories,” said The New York Times, which could be “devastating for prediction markets” as a whole. Kalshi’s “own data shows that $12.5 billion of its total trading volume comes from sports-related contracts.” All of its other categories combined generate just $4.7 billion.

The 2028 election could also have implications for the market, particularly if Democrats win back the White House and go after such brands. “These sportsbook companies want to be fast, they want to be active, they want to get a good return on what they’re spending right now,” Chad Beynon, a senior analyst at Macquarie Group, told the Times, “knowing that this could go away in 2028.”

President Donald Trump has already lent his name to real estate projects, hotels, golf courses and even a meme coin. Now, the president has given his name to a federal prescription drug platform: TrumpRx.

Officially launched on Feb. 5, the drug-pricing website allows consumers to search for prescription drugs and then purchase them elsewhere, purportedly at a discount. But while the White House has promised the site will “instantly deliver prescription drugs at ‘the lowest price anywhere in the world,’” drug policy experts say the “jury is still out on whether the platform will provide the significant savings Trump promises,” especially given that a number of similar platforms already exist, said the Los Angeles Times.

How will TrumpRx work?

Put simply, TrumpRx is designed to “help uninsured Americans find discounted prices for high-cost, brand-name prescriptions, including fertility, obesity and diabetes treatments,” said the LA Times.

Rather than selling drugs directly, the website will allow consumers to search for their prescriptions, find prescription savings if available and then go to their pharmacy with a provided coupon or get directed to a manufacturer’s direct-to-consumer website to purchase the drug at a discount. While things may shift in the future, “at least initially, people would not be able to use their insurance through TrumpRx, though it directs people to some manufacturer sites that allow patients to use their coverage,” said The New York Times.

As of the site’s launch, TrumpRx offers 43 medications, “including well-known and widely used products like insulin; inhalers; the popular weight-loss drugs, Wegovy and Zepbound; and a copycat version of Humira, used for conditions like arthritis,” said the Times. The Trump administration says more drugs will be added in the future.

Who can benefit from TrumpRx?

TrumpRx is “primarily for people who are buying out-of-pocket without insurance,” said NerdWallet. People who are insured privately, rather than paying cash, generally will not see as much benefit, although there are “cases when discounts could reduce costs — for example, when a newer, specialty name brand drug isn’t covered or easily approved by insurance,” said the outlet.

Meanwhile, people who are covered by Medicaid are “unlikely to benefit since nearly all prescription drugs are covered with little or no copay,” said NerdWallet.

Will TrumpRx offer meaningful savings?

It is “unlikely that many consumers will save money by using TrumpRx,” given that “nearly all of the drugs on the site are already widely covered through insurance, and some are available as inexpensive generics from competing manufacturers,” said the Times.

Further, many of the discounts that TrumpRx does offer are already available through comparable websites, such as the online pharmacy GoodRx. For example, “Pfizer’s Duavee menopause treatment is listed at $30.30 on TrumpRx, but it is also available for the same price at some pharmacies via GoodRx,” said the LA Times. In another example, “weight management drug Wegovy starts at $199 on TrumpRx” — a price at which “manufacturers were already selling.”