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When you were a first-time homebuyer, you were probably surprised by the total amount of fees and closing costs. Are you familiar with the costs on the selling side? A recent study from Zillow and Thumbtack calculated the average costs of selling a home both nationwide and in specific markets. The national average is $20,851,
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Hey, We Agree On Something It’s difficult to get a bill passed on a bipartisan basis in the current Congress, but the latest retirement bill is one of those rarities. The Setting Every Community Up for Retirement Enhancement (SECURE) Act is designed to give Americans greater access to retirement funds while making it easier to
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“Attention, employers. This is Denise. She’s just entering the working world, but she’s already concerned about retirement. She knows that traditional defined benefit pensions covered 84.4% of workers in 1979 but only covered 27.7% as of 2015 – and the share probably hasn’t been increasing. She expects you to offer a 401(k) or similar defined
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“Honey, our taxes are just too high. We’re moving to Alaska,” said no one, ever. Nevertheless, a new study from the moving assistance website HireAHelper.com found that your state tax burden could change drastically with an interstate move. According to the study, if you move from the District of Columbia to Tennessee, your collective state
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Mistakes are part of the human condition; it’s impossible to avoid them 100% of the time. But financial mistakes are in a class all their own — they tend to have a snowball effect and get worse over time. A seemingly small money mistake in your twenties can have outsized consequences in your thirties, forties,
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Do as I say, not as I do. Do you ever fall into that trap? New research from Debt.com suggests that you might have that attitude when it comes to budgets. Debt.com recently surveyed the budgeting habits and attitudes of Americans and found a wide discrepancy in following through on budgeting beliefs. A huge majority
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Beware of Credit Score Inflation America’s credit scores have improved along with the improving economy. Compared to 2006, there are approximately fifteen million fewer Americans with credit scores below 660 and a corresponding increase of fifteen million Americans with scores greater than 740. That’s good news, with a potential downside. Federal Reserve research suggests that
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Congratulations! You’ve made it through the home-buying process. You feel a great sense of satisfaction and relief. Will you feel the same way over time? According to a new survey from Bankrate.com, you have a decent chance of regretting something about your home purchase – especially if you’re a millennial. While 79% of survey respondents
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According to Federal Reserve data, America’s outstanding revolving debt – mostly credit card debt – stood at $1.055 trillion at the end of 2018. Who holds most of that debt? ValuePenguin’s report on average credit card debt in America shows that households with the lowest net worth (zero or negative) have the highest average debt
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How many people like the IRS? According to Facebook, it’s almost 110,000! Does it bother you that the Internal Revenue Service is more popular than you are? If you regularly use social media outlets to stay in touch with friends and follow people or businesses that you find interesting and relevant, consider adding the Internal
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Do you whip out your credit card to take care of every large purchase? Maybe you shouldn’t. A personal loan may be a better alternative – but when would it be best for you? A recent finder.com survey explored the reasons why just over one-third (34%) of Americans took out a personal loan in the
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Expand Your Horizons You’ve been searching for a long time for your new home, without success. Maybe you’re looking in the wrong place. According to the Census Bureau’s 2017 American Housing Survey (AHS), 35% of people who had recently moved did so because they wanted a larger or higher-quality home – and that dream home
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Wouldn’t it be nice if you could deduct your credit card debt from your taxes? For most Americans, that’s just a dream that will never come true. However, some circumstances allow you to deduct some credit card debt – all related to using your card for business purposes. The 2017 Tax Cuts and Jobs Act
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Tax preparation software has improved significantly over the past several years, and more and more people are using it to file their own taxes. If you are debating whether doing your own taxes is right for you, consider the following factors: Simplicity of your Tax Situation – If you have relatively few deductions, few sources
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You know you need to protect your accounts and personal information – but what is the best method? Should you use a credit monitoring service or subscribe to identity theft protection instead? What’s the difference between the two methods? Credit monitoring services do exactly what they say they do – monitor activity on your accounts
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The Internal Revenue Service has plenty of ways to penalize you for mistakes on your tax return. Some of these potential penalties are so convoluted and complex that there may well be disagreement within the IRS on when they apply. However, most people accrue tax penalties for very simple mistakes. Below are some of the
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What two words cause the most panic to Americans? There are probably a hundred funny responses running through your mind right now, but we were thinking of a less humorous response: “IRS audit.” Your odds of avoiding an audit are usually pretty good. The IRS reviewed less than 1.1 million tax returns in fiscal year
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You’ve taken steps to avoid identity theft, and maybe even applied a credit freeze to your credit report. You can sit back and relax, right?Wrong. You may have prevented identity thieves from opening new accounts in your name, but have you kept your existing credit accounts secure? As opposed to identity theft where your information
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Would you know what to do if you discovered that you were a victim of identity theft? Given the massive data breaches over the last few years, it’s important that you understand your rights as an identity theft victim – because your odds of becoming one are greater than ever. “If you find you
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