Following the Supreme Court’s decision to strike down President Joe Biden’s student loan forgiveness plan, the Federal Trade Commission (FTC) issued a notice that warned borrowers to beware of scammers.  The FTC said scammers will likely start sending out mass texts and robocalls, promising help on repaying loans, often charging…

More Americans are planning a summer trip this year compared to last year, but plan to spend less overall, a recent survey said.  Half of Americans said they would travel this summer, up from 46% last year, according to a Deloitte survey. Much of that activity is still driven by…

In light of recent bank shutdowns and economic uncertainty, Americans said they are looking to their financial services providers for more advice, according to a survey by Morning Consult.  “There’s been an uptick in the share of customers who have reached out to their banks, credit unions and credit card…

Even though about 75% of financial professionals say workers should invest bonuses in their 401(k) plans, only 17% of employees do so, according to a recent survey by Empower.  Nonetheless, bonus amounts vary widely. When asked how much they received in bonus payments, 36% of respondents said less than $500,…

Most Americans agreed that the economy is in or near a financial crisis. Still, many believed that having a plan will help them through it, according to a recent Nationwide survey. Eighty-eight percent of Americans said that having a plan for their investments made them feel more confident that they could…

In March, only 2.6% of all mortgages in the U.S. were in some stage of delinquency, according to the loan performance insights report by CoreLogic. That marked a 0.3 year-over-year percentage point decrease and the lowest level in more than two decades, CoreLogic said.  The organization defines delinquency as being…

Many Americans plan to save less than $5000 this year and are relying on their tax refunds to build rainy day funds, according to a recent survey. The majority of Americans (59%) saved about the same last year, according to the TaxAct survey. Financial experts recommend that consumers have roughly three…

The average American’s Retirement Score has dropped to 78, a decrease from its 2020 all-time high of 83, according to the latest Retirement Savings Assessment report by Fidelity Investments.  This means the typical American has a 78% chance of covering estimated retirement expenses in a down market, based on Fidelity’s…

As Americans cope with high inflation, many said their stress levels were at an all-time high, according to a recent survey by Clever Real Estate.  In fact, 61% of respondents said they have never been more stressed and 80% reported they were stressed about the cost of living, the survey…

The Federal Reserve is expected to raise interest rates by another 25 basis points during its May meeting, according to economists polled by Reuters.  The move would come following the collapse of financial institutions Silicon Valley Bank (SVB) and Signature Bank, which sent shockwaves throughout the banking industry. Some economists…