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by Quinten PlummerStaff WriterIt’s confirmed. You aren’t going crazy — inflation is. And if you’re like most of us, your wages aren’t keeping up with this historic inflation we’ve been facing during the pandemic years.Things will eventually settle down as supply will inevitably close ground on demand, though that’s little comfort if 2022’s wild economy is poised to set you back or knock you off track.Gloves up! We’ve got five

by Nicole DowSenior WriterWhen’s the last time you kept one of your New Year’s resolutions?While the motivation to lose weight, learn a new skill or save more money is super strong at the beginning of January, it tends to taper off by the time February rolls around. By the middle of the year, most resolution-setters have completely abandoned their idealistic plans.However, just because you’ve never stuck to one of your

Best for High-Yield SavingsHigh-Yield Savings0.50%APYBest for Users Who Want to Save SmarterOnline Savings AccountUp to 0.50%APYBest for Connecting to Multiple Accounts360 Performance Savings 0.40% APYBest for Access to a Cash-Back Debit CardSavings Account0.40%APYby Kathleen GarvinContributor When it comes to savings accounts, where do you even begin? Do a quick search, and you’ll find many savings accounts with different options with varying percentages, monthly fees and minimum requirements. Not to mention

by Robin Hartill, CFP®Senior EditorDear Reader,As the clock ticks toward the new year, I’m looking back at the 10 most-read Dear Penny letters of 2021. Some big themes in my inbox from the past year: Want some advice on a money dilemma? No question is too awkward or tricky. This column is a judgment-free zone, and I’ll always keep your identity anonymous. Send your money questions to [email protected]. Check back

by Robin Hartill, CFP®Senior EditorNew year, new investing strategy? Sorry, but that isn’t what you’ll find here. Investing doesn’t really change from year to year. It requires patience, consistency and a focus on long-term results. That’s why our best investing tips for 2022 look familiar. The best ways to invest in 2022 will still be the best ways to invest in 2023 and even 2033. If you’re ready to make

by Kari FaberStaff WriterAh, the new year. Time to start fresh!And since you’ve already cut 2021 from your life (albeit, not by choice — but because, you know, time), you might as well keep going. Keep cutting those toxic people, traits and choices from your proverbial life diet and start 2022 feeling good.Where to start? Well, this is The Penny Hoarder, after all. Start by getting rid of those greedy

Best for passive investingBetterment$0minimumBest for micro-investingStash$0minimumBest for active tradingE*TRADE$0minimumBest for access to a financial advisorSoFi Automated Investing$0minimumby Rachel Christian, CEPF®Senior Writer Picking the best investment app can be a tough decision. After all, there are a lot to choose from. From micro-investing mobile apps that buy fractional shares with your spare change to active trading platforms equipped with advanced trading tools and market commentary, there’s an investment app for every

by Nicole DowSenior WriterThe blank slate of a new year is something to look forward to.But as we set financial goals for the upcoming 12 months, it’s important to think beyond broad declarations, like: “I want to save more money.” Without a clear plan mapped out, those types of resolutions often fall through.The 52-Week Money Challenge, on the other hand, is specific and concrete — offering a better chance to

by Katherine Snow SmithContributor Go no further than TikTok to find people quitting their jobs in high-drama ways. “I’d rather not pay my rent than work for someone like you,” a young woman says to her boss — with camera rolling. “Today is my last day working in this toxic workplace,” a one-line resignation message reads. Another man announces he’s quitting by playing the Justus Bennetts song Real Life Sux,

by Robin Hartill, CFP®Senior EditorYou may have seen ads saying you can invest in Google or Amazon for as little as $1. You may have wondered: Is this legit?A whole share of Google parent company Alphabet costs over $2,900 as of December 2021. Amazon’s share price is more than $3,500.But the claims that you can invest in big-name companies with as little as $1 or $5 are actually legit. The