Getty Images American parents aren’t going all in on the allowance. While many financial experts tout the allowance as an important tool to teach kids about money, a recent survey commissioned by CreditCards.com found that only 40% of children under the age of 18 receive one. “Whether or not to pay an allowance is a

Bill Hinton | Getty Images First, you receive a call about your student loans. The person on the other end offers to lower your monthly payments or make your debt disappear altogether, potentially for a fee. Sounds great, right? You go through the steps, sharing your federal student loan ID and other sensitive information along

Alija | Getty Images If you’re a New Yorker who spends half the year in Miami, you’ll have to do more than that to be considered a Floridian. Moving to an income tax-free haven like Florida, Nevada or Texas is a tempting prospect for residents in high-tax states such as New York, New Jersey and

In this May 6, 2012, photo, a woman enters a Wells Fargo bank in New York. Cx Matiash The Great Recession has officially been over for a decade. For many Americans, there’s little reason to celebrate. Many people’s finances haven’t recovered from the recession’s blows, according to a new survey by personal finance website Bankrate.com.

Democratic presidential candidate Elizabeth Warren gestures as she speaks during a campaign stop at George Mason University in Fairfax, Virginia on May 16, 2019. Mandel Ngan | AFP | Getty Images Democratic presidential candidate Elizabeth Warren isn’t waiting for the election to push forward her proposal to erase the majority of the country’s outstanding student

DNY59 | iStock | 360 | Getty Images To save, or not to save? That question might not be yours to answer. A growing number of companies now direct money from their employees’ paychecks to a retirement account — even after a worker has said “no, thanks.” Auto-enrollment into retirement plans, of course, is not

With the Atlantic hurricane season underway, homeowners should be aware that inadequate insurance coverage can make recovering from a bad situation even worse. Whether damage from a storm comes from wind or water, homeowners whose coverage is insufficient have discovered the hard way that it makes recovery difficult and that their options for help are

Slocan Lake, BC Ira T. Nicolai | Stone | Getty Images It’s not every day that you’d tell a retiring client to ratchet up their stock exposure, but if she has some guaranteed income, it just might make sense. That’s because pension income, Social Security benefits and income annuities all provide retirees with a measure

Kelvin Murray | Getty Images Older workers could soon find it easier to prove they’ve run into age discrimination on the job. The House Education and Labor Committee voted on Tuesday to approve the Protecting Older Workers Against Discrimination Act (POWADA), introduced by Sens. Chuck Grassley, a Republican from Iowa; and Bob Casey, a Democrat

ADragan | iStock | Getty Images Many people are in the dark about what makes their credit scores rise and fall. That’s the takeaway from a new survey by the Consumer Federation of America and VantageScore Solutions, which found that consumer knowledge about credit scores is at the lowest level in the past eight years.

You’ve probably heard before that baby boomers are to blame for Social Security’s money woes. Yet new research from the Center for Retirement Research at Boston College suggests otherwise. Tetra Images | Getty Images The thinking typically goes that boomers, who were born between 1944 and 1964, have put undue pressure on the system because

When it comes to your resume, DIY may not be your best strategy. It’s never been easier to create your own resume. You’ve got word processing templates, examples on Pinterest and decent paper from the office supplies store. Turn it into a PDF and you’re good to go. Maybe not, though. A survey from TopResume,

Mick Jagger performs during the Rock in Rio Lisbon 2014 music festival, in Lisbon, Portugal on May 29, 2014. (Photo by Pedro Fiúza/NurPhoto via Getty Images) NurPhoto | NurPhoto | Getty Images If you’re attending a Rolling Stones concert this summer, you might notice something different. And no, it’s not Mick Jagger’s new moves. The

If you’re thinking about having basic Medicare without any supplemental coverage, experts have a message for you: Don’t. With deductibles, copays, coinsurance and — this is a biggie — no out-of-pocket maximum, the program has a variety of costs that make having no backup insurance a huge financial risk. “All it takes is one big

Getty Images Got your first job at a start up? This workplace perk gives you a shot at a windfall — if you’re lucky. When offered as part of a compensation package, stock options give workers an opportunity to own a slice of the company. It can be an attractive perk. That’s because while smaller,

Kelvin Murray | Getty Images There are many reasons that older Americans take on part-time work after leaving a full-time job behind — perhaps better financial security, a sense of purpose or a way to stay connected. It’s also becoming more common to work well into one’s 60s or 70s, or even 80s. By 2026,

A Quest Diagnostics Inc. requisition form is displayed for a photograph at Perry Memorial Hospital in Princeton, Illinois, U.S., on Wednesday, Oct. 11, 2017. Daniel Acker | Bloomberg | Getty Images Medical identity theft like the recent breach involving nearly 12 million Quest Diagnostics patients can cost you lots of money. In 2018, there were

Oliver Rossi | The Image Bank | Getty Images Legislation that will help workers save for retirement could also have a chilling effect on a strategy to pass individual retirement accounts on to heirs. The bill, known as the Secure Act, sailed through the House on May 23. Legislators on both sides of the aisle

Chegg has a new plan to help its employees deal with their student loans. And its CEO wants other companies to follow Chegg’s lead. The student-connected learning platform announced a new program Thursday that will give its entry- through manager-level workers up to $5,000 a year, if they have been with the company at least

In October 2018, an anonymous woman in South Carolina won the $1.6 billion Mega Millions jackpot. Lottery prizes have been on the rise since the two major lottery organizations, Mega Millions and Powerball, struck a deal to cross-sell tickets in each others’ member states in 2010. But lotteries go back much further — in colonial