Yearly Archives: 2022

by Mike BrassfieldSenior WriterMaybe you’ve thought about getting life insurance to protect your family in case something happens to you. But you haven’t gotten around to it because — let’s face it — figuring out what kind of policy you really need is complicated and a little intimidating.When you shop for life insurance, you get bombarded with weird jargon like “term life,” “cash value,” “universal life,” “death benefit,” “whole life,”

by Robin Hartill, CFP®Senior EditorA payday loan is a type of short-term, high-interest personal loan that becomes due when you get your next paycheck. Payday loans may look appealing in a cash crunch, particularly for people with low credit scores. But the fees and interest are exorbitant, leading many borrowers to become trapped in a debt cycle where they take out loan after loan.In this article, we’ll explain how payday

by Nicole Dow, Veronica Matthews It’s probably not news to you, but the price of fresh produce is rising. Between March and April 2022, the price of food in general went up 9.4 percent. Add to that supply chain and food waste concerns and there are more price increases predicted for fresh fruits and vegetables this year — between 6.5 and 7.5 percent. With these stats, you need a strategy

by Katherine Snow SmithContributor Travelers who are excited about taking those long-awaited trips aren’t nearly as cheery about the rising cost of airfare thanks to fuel costs and inflation in general. Budget airlines, of course, are impacted too, but there are still many bargains to be had. For example, Avelo Airlines,  is charging $59 each way between Wilmington, North Carolina, and Orlando, Florida, this summer and the same price for

Best for Making the Most of SavingsVaro1.2%–5%APYBest for Customers on Tight BudgetsChime0.50%APYby Dana Miranda, CEPF®ContributorTired of looking for a branch or navigating a clunky app when you need to manage your bank account?For anyone who’s ready to walk away from traditional branch banks, an industry of online challenger banks has blown up over the past decade. Technology companies have swooped in to respond to the need for more mobility, better

by Kiara TaylorContributorAmericans’ use of mobile banking apps and online banking continues to grow as fewer people are visiting brick and mortar banks to access their bank accounts. This has people wondering, “Are banking apps safe?”To answer this question, it’s important to understand data privacy policies and have an awareness of potential threats to your consumer information. You work hard for your money, so it’s crucial that you make sure

Real Answers for Life’s Money Challengesby Robin Hartill, CFP®Senior EditorMy husband and I have been married for 10 years. We have four children (ages range from 8 to 5 months). We recently relocated, and my husband is not working so he can care for our youngest children. My mother-in-law retired and relocated with us. She is currently living with us and has been for over 10 months. She intends on purchasing

by Adam Hardy, Robert BruceMore than a million student loan borrowers are entitled to automatic relief thanks to recent court settlements and rule changes from the U.S. Department of Education.Several groups of student loan borrowers will receive automatic aid unless they choose to opt out. The groups include some current and former service members, borrowers with qualifying permanent disabilities that prevent them from working and attendees of the defunct ITT

by Rachel Christian, CEPF®Senior WriterA recession may be on the horizon.Gas prices are at a staggering $5 per gallon on average. Rents are soaring and inflation is at 8.6% — the highest it’s been in 40 years.The stock market is flirting with bear territory and bitcoin and other cryptocurrencies continue to crash.In response to soaring inflation, the Federal Reserve is raising interest rates — a move economists worry could slow

Real Answers for Life’s Money Challengesby Robin Hartill, CFP®Senior EditorI am a 27-year-old who still lives with her parents. I’m also a college dropout. I was never taught anything about finances, and I’m just now starting to learn. I have medical debt that I’m working on paying off and a car payment, and I can’t seem to save up any money. I live in a town where it’s nearly impossible to