Personal finance

Many Americans are starting 2025 a little worse off than before, at least when it comes to credit card debt. Almost half of cardholders — 48% — now carry debt from month to month, according to a new report by Bankrate. That’s up from 44% at the start of 2024. Of those carrying balances, 53%

Damircudic | E+ | Getty Images There’s one upside to your student loan payments: they might reduce your 2024 tax bill. The student loan interest deduction allows qualifying borrowers to deduct up to $2,500 a year in interest paid on eligible private or federal education debt. Before the Covid pandemic, nearly 13 million taxpayers took advantage of the

Simpleimages | Moment | Getty Images As the first paycheck of 2025 hits your bank account, it could have slightly more money due to IRS tax bracket changes. The IRS in October announced the federal income tax brackets for 2025, which raised each income threshold by roughly 2.8%. By comparison, the brackets increased by about

sturti | E+ | Getty Images The Consumer Financial Protection Bureau on Tuesday announced it has finalized a rule to remove about $49 billion in medical debt from credit reports, a change that will affect an estimated 15 million Americans. Individuals who have medical debt on their credit reports may see their credit scores increase

President Joe Biden after he signed the Social Security Fairness Act at the White House on Jan. 5 in Washington, D.C.  Kent Nishimura | Getty Images News | Getty Images President Joe Biden on Sunday signed the Social Security Fairness Act into law, clearing the way for nearly 3 million public workers including teachers, firefighters