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How to Know if There’s Too Much Cash in Your Savings Account

As our country wrestles with new coronavirus outbreaks, the economy continues its downward slump. This week’s announcement from the Federal Reserve was bad news for savers—who may already be antsy about low interest rates and where to stash their cash, according to a new Bloomberg report. Read more...

Why the Weak Dollar Is Good for Your Investments

As the economy struggles, it’s been a rough month for the U.S. dollar. Our currency may be on track for the weakest month in almost a decade, according to the Wall Street Journal. Two things have caused the recent decline: Our coronavirus outbreak and low interest rates from the Federal Reserve. As a result, investors…Read more...

How This Week’s Fed Meetings May Impact Your Wallet

Yesterday, the Federal Reserve announced it would leave its benchmark interest rate close to zero. “We’re not even thinking about thinking about thinking about raising rates,” Fed Chair Jerome Powell said in a press conference. As coronavirus cases continue to spike, the Fed also plans to extend its lending programs…Read more...

How to Do a Mid-Year Portfolio Checkup

It’s been a nerve-racking year for investors. Almost four months ago, experts declared the end of the bull market after a series of drops. Yet after the stock market plunged almost 35%, investors saw a speedy recovery. The second quarter finished strong, nearly erasing the damage from February and March. Now that the…Read more...

'Gamify' Your Savings With a Prize-Linked Bank Account

A new prize-linked savings account called Yotta Savings has sparked interest among Redditors and the Doctor of Credit blog. According to its website, Yotta wants to help Americans become more financially secure “by making saving instantly fun.” The company says the concept came from Premium Bonds—the UK’s biggest…Read more...

Make a Plan for the Return of Federal Student Loan Payments

This week, Senate Republicans introduced the HEALS Act, the party’s next stimulus relief bill. While the $1 trillion plan calls for unemployment insurance, direct payments, forgivable Paycheck Protection Program (PPP) loans and more—there’s not much in it for student loan borrowers. As CNBC reports, the HEALS Act…Read more...

What to Do if You Still Haven’t Received the First Stimulus Check

Yesterday afternoon, Senate Republicans unveiled the HEALS Act, their latest response to the ongoing coronavirus pandemic. As expected, the HEALS Act includes a provision for another round of $1,200 direct payments—similar to what the CARES Act offered. While the second stimulus check is a welcome relief, millions of…Read more...

You Now Have More Time to Sign Up for COBRA After a Job Loss

With the unemployment rate lingering in the double digits, the Kaiser Family Foundation estimates 26.8 million people could soon become uninsured if they don’t sign up for other health coverage. If you are one of the millions of Americans who have experienced job loss during the pandemic, you may be facing a tough …Read more...

Boost Your Credit Score With On-Time Netflix Payments

As more folks stay home, streaming services like Netflix have become more popular than ever. While Netflix offers plenty of binge-worthy television shows and movies, it may also provide another new benefit: The ability to increase your credit score. Starting today, you can add your Netflix payment history to your …Read more...

Prepare for Post-Divorce Taxes When You Sell Your Home

There’s no doubt about it—the lengthy pandemic has put a strain on marriages. While some folks are grappling with job loss and making ends meet, others are trying to juggle the demands of working from home, childcare, and homeschooling—often in tight quarters. For unsteady couples, the shutdowns may be making tensions…Read more...

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