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Car insurance premiums are on the rise but there are ways to cut the costs. Data from the Association of British Insurers (ABI) shows motorists paid an average of 25% more annually for their car cover in 2023. More recent figures from researcher Consumer Intelligence shows the average quoted price of car insurance rose by […]

If you are planning to help cover the cost of a child’s education someday, opening a 529 plan is often considered one of the best ways to start saving. That’s because a 529 college savings plan offers myriad benefits — it “allows you to invest in high-return assets, avoid taxes on the capital gains while in […]

A high-yield savings account delivers exactly what its name suggests: higher yields on your deposits. Indeed, high-yield savings accounts “can pay up to 10 to 12 times the national average of a standard savings account,” said Investopedia. This category of savings accounts are typically offered by online banks and credit unions, as opposed to traditional […]

Divorce at any age isn’t easy, but when it occurs later in life, spousal separation can present some unique challenges, particularly financially. As the rate of gray divorce — defined as divorce that occurs later in life between older adults — ticks up, those challenges are becoming more readily apparent. “Both partners see their wealth […]

A new tax year has begun, bringing a range of fresh allowances for your savings, investments and pensions. This is the start of the financial year “when time runs out on certain reliefs and allowances”, said Investors’ Chronicle, as the state’s requirements for funding continue to rise.  There are “various tax changes”, said Which? that […]

As spring brings about longer, sunnier days, you may want to consider harnessing the sun’s energy to power your house. But given that installing solar panels is a major — not to mention costly — project, it’s only natural to wonder: Are solar panels worth it for your home? For most people, “installing residential solar panels is […]

If you’re owed a tax refund and it hasn’t already arrived, it’s bound to hit your bank account (or mailbox) sometime soon. As of mid-March, the average refund amount that taxpayers are receiving this tax season is $3,109, said The Wall Street Journal. Given this is far from an insignificant chunk of change, it’s helpful […]

A $90 trillion “great wealth transfer” will make millennials the “richest generation in history”, according to a new study. The “blockbuster” findings predict that a “windfall” is set to “fall into the laps of millennials over the course of the coming decades”, said Fortune, “shifting the power dynamic in the economy away from boomers”. But […]

Intended as a tax-advantaged way to save for retirement, 401(k) plans are increasingly becoming somewhere Americans are turning in a financial pinch. Last year, “a record share of 401(k) account holders took early withdrawals from their accounts” to help cover “financial emergencies,” The Wall Street Journal said in a report, citing internal data from Vanguard […]

Pension savers are facing a new dilemma ahead of this year’s general election which could dictate how much they withdraw from their retirement savings. The lifetime allowance will be scrapped from the new tax year on 6 April, removing any limits on how much you can save into a pension.  But Labour has pledged to […]

Have you noticed that product sizes are shrinking while prices stay the same? These days, “everyone from President Joe Biden to Cookie Monster is taking a stand against shrinkflation,” said CNBC. In his State of the Union, President Biden made the allegation against Snickers bars, noting that “you get charged the same amount, and you […]

Consumers are facing massive rises in their household bills on everything from water to broadband as the cost of living crisis continues to hit hard. Millions of households will see their bills “rise steeply” from April as companies “take it in turn to hit consumers with price rises”, said The Telegraph. But the energy price […]

If you believe that money equals happiness, then willingly accepting a pay cut may sound like a straight path to gloom and doom. But as it turns out, some people who trade their higher-paying job for one with a lower salary end up “happier,” said The Wall Street Journal. Though a lower income obviously entails […]

If you believe that money equals happiness, then willingly accepting a pay cut may sound like a straight path to gloom and doom. But as it turns out, some people who trade their higher-paying job for one with a lower salary end up “happier,” said The Wall Street Journal. Though a lower income obviously entails […]