Checking Account

July 18, 2022As the Federal Reserve has raised its target federal funds borrowing rate during 2022, interest rates paid to savings account depositors have lagged behind. However, since the Fed’s 0.75% increase to a target rate of 1.5% to 1.75% at its… read more…

July 12, 2022Certificate of deposit (CD) accounts and savings accounts can help you keep your money safe and secure while earning some interest on balances. While they’re both deposit accounts, they aren’t exactly the same when it comes to interest earnings, fees and access to your money. Your decision to open a CD or savings account will… read more…

November 16, 2021These days, bank accounts can do a lot. They make it easy for you to track your spending and receive transaction alerts, often in real-time. They allow you to transfer between accounts and even send money to others in just… read more…

October 26, 2021If you have enough money, putting some kind of savings aside for both short- and long-term goals is important. After covering general expenses for your daily or monthly budget, an emergency fund could help you prepare for short-term costs such as… read more…

July 30, 2021Having a demand deposit account is the first step many people take when they embark on a saving and investing program. Most consumers begin with a checking account and add a savings account or a money market account as time… read more…

May 4, 2021The Federal Reserve says that revolving consumer credit debt – including debt from credit cards, home equity lines of credit and personal lines of credit – increased to $974.4 billion in February 2021, marking a 10.1% annual rate increase from the year prior. This is almost one-third of all consumer debt – which also includes… read more…

April 21, 2021While there is still a long way to go, women have made significant strides over the last few decades to achieve greater equality in education, earnings and business ownership. According to data from the Bureau of Labor Statistics, in 2019, 57.4% of adult women participated in the workforce, which is still much less than 69.2% of men,… read more…

April 21, 2021IRS data shows that roughly 6% of American taxpayers earn $200,000 or more annually. While that figure includes income from investments, most reported income comes from salaries and wages. Across all occupations, the average worker earns $56,310 annually. In some of the highest-paying occupations, however, the average worker makes nearly three, four or even five… read more…

April 15, 2021Individuals with higher levels of financial literacy tend to adhere to better financial practices – such as having an emergency fund and planning for retirement – and are also more likely to build wealth further by investing in the stock market. Many Americans, however, lack financial knowledge and do not follow financial best practices. Less than 50% of American adults have… read more…

April 8, 2021It’s no secret that the U.S. unemployment rate peaked at 14.7% in April 2020, as a result of the COVID-19 outbreak — up from a pre-pandemic rate of just 3.5% in February 2020. As the job market continues to rebound with the vaccine rollout and the recent wave of federal aid, which could help many… read more…

March 25, 2021While many economists believe that the U.S. economy will return to pre-pandemic levels by late 2021, they are less confident that the job market will bounce back as quickly. According to February data from the National Association of Business Economics, 82% of economic forecasters surveyed expect real GDP to return to pre-COVID-19 recession levels sometime… read more…

March 23, 2021Almost one in two Americans (48%, to be exact) prefer to live in a town or rural area, according to a 2020 Gallup survey – up from 39% in 2018. And while 27% still say that they want to live in a city, almost two-thirds of that group (16%) prefer a small city to a… read more…

March 17, 2021According to the Department of Housing and Urban Development, a household that spends more than 30% of its combined income on housing is considered “cost-burdened.” And households spending over 50% are considered “severely cost-burdened.” Many homeowners nationwide facing constraints based on their housing expense ratio may need to rethink their housing budget and move forward with… read more…

March 16, 2021The COVID-19 pandemic has caused unprecedented job losses across many industries and occupations. However, STEM jobs have been less affected generally. The 2020 unemployment rates for all three STEM occupational categories were more than three percentage points lower than the overall rate (8.1%). Specifically, the average 2020 unemployment rates for computer & mathematical occupations, architecture… read more…

February 25, 2021While Baby Boomers and Generation X are now the bosses at many companies, more than 25% of the workforce is younger than 30. This means that Generation Z (born between 1997 and 2012) and millennials (born between 1981 and 1996) are emerging as the generations to soon comprise the largest percentage of workers. Starting your… read more…

February 18, 2021The Bureau of Labor Statistics (BLS) says that computer and information technology jobs are expected to have grown by 11% from 2019 to 2029, adding 531,200 new jobs in cloud computing, big data storage and collection and information security. The median annual wage for those jobs in May 2019 was $88,240, which is $48,430 higher… read more…

February 9, 2021Dating in the time of COVID-19 isn’t easy. The pandemic has impacted Americans and the economy unevenly. And cities have shutdown and reopened at different rates. So depending on where you live, it can be complicated for a couple to find a good restaurant, see a movie, visit a museum or enjoy any other romantic… read more…

January 21, 2021How far you live from work, school and other places you frequent can cost you time, money and health. The U.S. Census says that the average commute takes Americans 27.6 minutes each way. That’s more than 240 hours annually, if you commute twice every workday in 2021. And now that many people have cut back… read more…

January 13, 2021For most people, working is inevitable: You need a job to afford your lifestyle. The trick, of course, is to find a balance where you can earn the money you need without spending all of your time in the workplace. Some of that depends on what the work culture is like in your city, how much… read more…

January 12, 2021According to the Census Bureau, almost 20 million renters allocate at least 30% of their household income towards rent, indicating that they are housing cost-burdened. This can be especially true in larger cities where the cost of living is higher. And if time is money, then many Americans will have to resort to working longer… read more…

January 7, 2021Since the onset of COVID-19, remote work has become the norm for many Americans, allowing them to continue to meet some of their expenses while saving where possible. In the late spring of 2020, about half of American workers were working from home, according to two surveys conducted by the National Bureau of Economic Research.… read more…

January 6, 2021Jobs requiring a bachelor’s degree or higher level of education for entry are often more insulated from unemployment than others. During the COVID-19 pandemic, total unemployment for individuals 25 years and older spiked to 13.1% in April 2020. However, the highest unemployment rate over the past year for bachelor’s degree holders 25 and older was… read more…

January 6, 2021Women’s earnings in the U.S. make up about 81% of men’s, according to Census Bureau data from the past several years. Though this figure has steadily grown over the course of decades, researchers predict the economic effects of the COVID-19 pandemic could set back pay for women. Bureau of Labor Statistics data unequivocally shows that… read more…

December 15, 2020Though the COVID-19 crisis has resulted in widespread fitness center closures, many Americans still want to stay as healthy as possible. Depending on the level of services and equipment required, staying active can affect people’s budgets in a variety of ways. For now, virtual exercise classes and home gyms are the route most people are… read more…

December 9, 2020A tall, frosty glass of beer has proven welcome succor during the distressing COVID-19 pandemic: Through the first half of 2020, beer sales in the U.S. rose about 16% compared to the same period in 2019, according to Chicago-based market research firm IRI. Though lock-down orders and restrictions on bars and restaurants have changed the… read more…