Today's Personal Finance Pulse
Young Canadians can grow wealth by automating savings despite high living costs
MoneySense advises that professionals should capture at least half of any raise and start modest contributions of $40‑$150 per paycheck. Automating transfers helps eliminate discretionary spending, while tax‑advantaged accounts such as TFSA and FHSA boost long‑term growth.
U.S. Consumer Sentiment Plummets to Record Low as Inflation and Oil Prices Squeeze Households
The University of Michigan’s consumer sentiment index fell to a record low, while one‑year and five‑year inflation expectations rose sharply. 57% of respondents said high prices are eroding their personal finances, a trend amplified by recent oil price spikes and hawkish Fed commentary.
Can You Really Lower Your Bills Just By Asking? Here's What Happened When I Tried.
A consumer tested the classic advice of calling service providers to ask for lower rates and saved over $720 in a year. The experiment covered streaming (Peacock), fitness (Fitbit Premium), utilities (electric), and telecom (AT&T internet), yielding discounts ranging from...
U.S. Gasoline Hits $4.24/gal, Prompting 35% Surge in Savings Withdrawals
U.S. gasoline prices surged to $4.24 a gallon, the highest level in over a year, forcing millions of families to tap employer‑sponsored emergency savings. Withdrawals for transportation rose 35% year‑over‑year, while the national personal‑savings rate slipped to 3.6%, underscoring a...
Suddenly Inherited Money? The Critical Steps You Need to Take First
The so‑called Great Wealth Transfer could move roughly $124 trillion across generations in the next 10‑20 years, with women expected to inherit a disproportionate share. Financial advisers caution that many heirs either never receive the anticipated funds or quickly deplete them,...
Social Security, Withdrawal Strategy, HSAs, 4% Rule, Roths, Retirement Trust: Q&A #2621
In this Q&A episode, certified financial planners Jim Saulnier and Chris Stein tackle common retirement topics, focusing on Social Security claiming strategies, the interplay of spousal benefits, and how early filing impacts reductions. They also field questions about withdrawal sequencing,...
Debt‑Negotiation Expert Carrie Joy Grimes Offers Practical Tools to Cut Household Bills
Carrie Joy Grimes, founder of the nonprofit WorkMoney and author of *The Joy of Money*, urges Americans to use under‑utilized programs and direct negotiation to reduce credit‑card fees, tax bills and everyday expenses. Her guidance arrives as households grapple with...
Millennial Steve Antonioni Pioneers "Camp FIRE" With $90,000 War Chest
Steve Antonioni built a $90,000 savings buffer, left his corporate job and launched a YouTube channel on financial independence. He coined "Camp FIRE," a mini‑retirement model that lets young adults fund career pivots or breaks much sooner than traditional FIRE,...
Dave Ramsey Warns Three Everyday Habits that Shave Years Off Retirement Savings
Financial guru Dave Ramsey says three common behaviors—treating debt payments as normal, unchecked lifestyle creep, and postponing savings while relying on Social Security—can cut years from a worker’s retirement readiness. He backs the warning with data on $1.25 trillion in U.S....
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The 9 Best Places To Put Your Savings
The article outlines nine optimal places to park cash, ranging from traditional savings accounts and high‑yield online accounts to certificates of deposit, money‑market products, Treasury securities, bonds, and tax‑advantaged accounts such as HSAs and Roth IRAs. Each option is evaluated...
Retired Californians Lose $845,000 to Impersonation Scam, Spotlighting Elder Fraud
Peter and Diane Hata, a retired couple from Covina, California, were duped out of $845,000 by scammers posing as FBI agents. The fraud, which involved cryptocurrency transfers and a home equity loan, highlights the growing vulnerability of seniors to sophisticated...
5 Vanguard Mutual Funds to Navigate Inflation and Geopolitical Risks
The U.S. economy showed resilience in April, with CPI up 3.8% year‑over‑year and core CPI 2.8% amid oil prices above $100 per barrel. Producer Price Index surged 6% YoY, the highest since 2022, pushing bond yields higher as Fed rate‑cut...
Ask the Tax Editor, May 22: Roth IRAs and the Five-Year Rule
The IRS imposes two five‑year rules on Roth IRAs: one governing tax‑free earnings and another governing the 10% early‑withdrawal penalty on conversions. The earnings rule’s clock starts on January 1 of the year you first fund any Roth IRA, and it...
How Can I Improve My Money Management Skills?
Improving money‑management isn’t about perfect decisions; it’s about building repeatable habits that keep spending visible and savings consistent. The article outlines a step‑by‑step framework—from daily expense tracking and lifestyle‑aligned budgeting to goal setting, automated savings, and regular financial reviews. By...
Folse Financial Unveils Four‑Phase Retirement Planning Framework for Louisiana Clients
Folse Financial Investment & Retirement Services launched a four‑phase retirement planning framework, guiding clients from saving to legacy transfer. The model, championed by founder Rob Folse, targets high‑net‑worth individuals in Louisiana, Mississippi and Virginia, and signals a shift toward more...
Trump Administration Targets Senior Job‑Training Program for Elimination in FY 2027 Budget
The White House’s FY 2027 budget calls for a complete shutdown of the Senior Community Service Employment Program (SCSEP), wiping out the $395 million authorized for 2026. The move threatens the part‑time training placements and wages that have helped roughly 30,000 seniors...
When Lower Interest Rates Make It Tougher to Save, Don't Stop — Just Switch Up the Game a Bit
As the Federal Reserve nudged rates lower at the end of 2025, borrowers welcomed cheaper loans while savers saw returns on cash‑based products tumble. A WalletHub poll shows 56% of Americans are dissatisfied with bank‑account yields, and many feel less...
Laura Pomfret - CCJs, Decrees and Unpaid Court Debts
On 22 May finance commentator Laura Pomfret appeared on Morning Live to discuss the sharp rise in County Court Judgments (CCJs) across England, Wales and Northern Ireland, and their Scottish counterpart, decrees. She outlined why more borrowers are receiving judgments, the...
Social Security Trust Fund Faces 2034 Exhaustion, Experts Warn of Urgent Reform
Urban Institute fellow Gary Koenig warned that the Social Security trust fund is projected to be depleted by 2034, highlighting that surpluses ended in 2010 and that Congress has avoided tough choices since the 1983 solvency fix. He outlined policy...
Credit Card as a Budgeting Tool? Tips for Young Credit Card Users
Young adults can turn credit cards into effective budgeting tools by selecting rewards that match everyday spend, treating the card like a debit card, and maintaining disciplined payment habits. Keeping credit utilization under 30% and paying the full statement balance...
Voya CEO Highlights Benefit Gap for Caregivers and Disabled Workers
Voya Financial chief Heather Lavallee told CNBC on May 15, 2026 that caregivers and workers with disabilities are systematically excluded from employer‑provided benefits. She urged employers to integrate ABLE accounts, a tax‑advantaged savings tool, into benefits packages to close the...
Flint Leads WalletHub Home‑Affordability Ranking, Detroit Second; Michigan Cities Rank
WalletHub released its May 19 affordability ranking, naming Flint the most affordable U.S. city for home buyers and Detroit the second. Seven additional Michigan cities made the list, highlighting the state as a hotspot for low‑cost housing relative to income.
'Inflation Comes and Goes,' But Your Savings Can't Wait: Dave Ramsey’s 8 Ways to Protect Your Retirement
Dave Ramsey emphasizes that Social Security should be viewed as a supplemental benefit, not the foundation of retirement income. He advises saving roughly 15% of earnings each year and adopting disciplined withdrawal strategies—such as the 4% rule or bucket approach—to...
Dave Ramsey Flags Three Habits that Could Shave Years Off Retirement Savings
Personal‑finance guru Dave Ramsey warned listeners that treating debt as normal, unchecked lifestyle inflation and postponing retirement contributions are draining nest eggs. He cited $1.25 trillion in U.S. credit‑card debt and an average 21.5% APR, underscoring how everyday choices can shave...
Suze Orman’s 2 Personal Finance Rules to Follow (and 2 to Rethink)
Suze Orman advises building a three‑to‑six‑month emergency fund and maintaining a solid credit score as foundational personal‑finance habits. She cautions against car leasing, arguing it can be a costly depreciation trap, and suggests limiting debit‑card use in favor of strategic...
Bipartisan Charity Parity Act Targets 401(k) Giving, Unlocks $111,000 Tax‑Free Donations
Lawmakers in both chambers introduced the Charity Parity Act on May 13, 2026, allowing retirees 70½ and older to make qualified charitable distributions directly from 401(k), 403(b) and 457(b) plans. The bill removes the costly IRA rollover step and preserves...
Millennials, Many of You Are Making These Common Money Mistakes (and You Won't Like the Consequences)
Millennials in their 30s and 40s often sideline retirement savings, yet early contributions dramatically boost long‑term wealth. A $300 monthly 401(k) deposit at age 35 can grow to about $340,000 by 65, whereas starting at 45 yields just $147,000, highlighting...
A Time to Save
The author recounts how a 401(k) at Vanguard sparked a lifelong commitment to saving, starting with a 3% employer match and a 15% payroll contribution in the early 1990s. Over time, the writer shifted from actively managed stock funds to...
Pay Your Credit Card Early, Transform Your Finances
They taught us algebra in school but never taught us that paying your credit card three days earlier could change your entire financial life. I wrote the article I wish existed when I was broke. link in comment ⤵️
Switching Insurers Saved $1,000 on Homeowners Insurance
Our homeowners insurance went up $600. So, I called an insurance broker friend, and the new policy with a different insurer is going to be $1,000 lower than the existing plan. Gotta love insurance stuff.
NerdWallet Unveils Financial Resilience Index, Scores U.S. Households at 60.4
NerdWallet introduced its monthly Financial Resilience Index, giving the inaugural score of 60.4 out of 100. The index shows that two‑thirds of Americans anticipate a recession and more than a third will turn to credit to cover expenses, highlighting growing...
Experts Warn 401(k) Balances Could Plummet in a Market Crash
Financial advisers caution that a sudden stock market crash could erase a large portion of retirement savings. With the S&P 500 up 26% over the past year, the risk of a rapid correction is prompting calls for more conservative asset...
Is Your 401(k) Rollover Truly Protected in an IRA? Take Our Quiz
Moving a 401(k) to an IRA removes the federal ERISA shield that safeguards employer‑sponsored plans, exposing the assets to creditor claims, bankruptcy rule changes, and higher administrative risk. The quiz highlights that rolled‑over dollars no longer enjoy automatic bankruptcy protection...
Month‑by‑Month Checklist Helps 65‑Year‑Olds Guard Finances Against Scams
Consumer‑advocacy experts released a month‑by‑month checklist for people approaching age 65, warning that data brokers treat the birthday as a high‑value trigger. With more than 73,000 unauthorized Medicare plan switches in 2024 and $76 million in FTC‑reported impersonation losses in 2023,...
Worried About College Savings? Bond Ladder ETFs Could Help
Investors worried about rising college costs can turn to bond ladder ETFs, specifically the Northern Trust 2030 Inflation‑Linked Distributing Ladder ETF (TIPA). TIPA builds a ladder of U.S. Treasury Inflation‑Protected Securities (TIPS) that mature each year through 2030, delivering inflation‑adjusted...
Congress Passes Bipartisan Crypto Tax Bill to Standardize Digital Asset Reporting
House lawmakers from both parties have finalized a bipartisan crypto tax bill that clarifies the tax treatment of staking rewards, wash‑sale rules and digital‑asset lending. The measure also adds reporting exemptions for smaller personal crypto transactions, aiming to reduce confusion...
Why I Invest In A 529 Plan
Parents are turning to 529 college‑savings plans to lock in tax‑advantaged growth for future education costs. The One Big Beautiful Bill Act, signed last summer, broadened qualified expenses to include K‑12 tuition, vocational training and up to $20,000 annually for...
Fallen Into Negative Home Equity? Here Are Your Options
Canada’s housing market has reversed its pandemic‑era boom, with prices dropping 20% from the early‑2022 peak and a further 0.4% decline in March. The slide has pushed many recent buyers—especially those who put down only 5‑10%—into negative equity, or “underwater”...
How the Bank of England Base Rate Affects Your Mortgage, Savings and Loans
The Bank of England’s base rate serves as the benchmark for UK mortgage, savings and loan pricing. When the rate rises, variable‑rate mortgages and most consumer loans become more expensive, while savings accounts tend to offer higher returns. Fixed‑rate products...
Opening a Brokerage Account for a Minor: Uses, Types and Steps
Adults can open custodial brokerage accounts—UGMA, UTMA, custodial Roth IRAs, or teen‑direct accounts—on behalf of minors, allowing the child to own investments from birth. These accounts have no contribution limits, broad investment choices, and the assets become the child’s property...
Retirees Confront Rising Debt and Garnishment Threats as Bankruptcy Options Gain Attention
A surge in debt lawsuits against seniors is exposing retirees to wage garnishment and bank levies, even as Social Security benefits remain largely protected. Bankruptcy filings can trigger an automatic stay that halts most collection actions, but exemptions vary by...
Bankrate Report Finds Only 30% of Americans Can Cover $1,000 Shock With Savings
Bankrate’s 2026 Annual Emergency Savings Report reveals that only 30% of U.S. adults would tap savings for a $1,000 unexpected bill. The data shows stagnant or falling reserves for most households, widening gaps by income, age and debt levels.
Deep Dive #9: Why Everyone Should Care About Investment Income
In this episode, AJ Bell’s head of financial analysis Dani Hewson explains why income investing matters for both retirees seeking cash flow and long‑term investors looking to boost returns through dividend reinvestment. The discussion covers dividend fundamentals, the power of compounding,...
FTC Report Finds Facebook Drives $2.1 Billion in Consumer Scam Losses
The Federal Trade Commission’s latest report reveals that Facebook was the leading platform for scam initiations, contributing to $2.1 billion in consumer losses in 2023. Almost one‑third of victims said the fraud began on social media, with investment scams alone costing...
SAVE Forbearance Is Ending: 7 Million Borrowers Face Repayment Restart
The episode explains that the SAVE forbearance period for roughly 7 million federal student loan borrowers ends after loan servicers begin sending notices on July 1, 2026, giving borrowers about 90 days to choose a new repayment plan before being placed into the higher‑payment...
Warren Buffett Advice: You Don’t Have to Pick the Right Stock, Just Pick This Index and You’ll Build Wealth In...
Warren Buffett repeatedly tells non‑professional investors to buy a low‑cost S&P 500 index fund and hold it for life. He argues that a broad, inexpensive exposure to America’s 500 largest companies outperforms most active managers over decades. Buffett’s own will instructs...
‘He Didn’t Really Pay Attention’: I Told My Friend He Left Millions on the Table in Retirement. Did I Do...
A senior publishing executive earned $250,000‑$450,000 annually, maxed out his 401(k)s, and lived frugally, yet kept the bulk of his savings in cash. By ignoring investment options beyond tax‑advantaged accounts, he potentially forfeited millions of dollars in compounded growth. The...
Inflation Hits Three-Year High; Experts Advise Portfolio Strategies to Beat Rising Prices
The Consumer Price Index rose at its highest annual rate in three years, reigniting concerns for savers. Investment strategists from Edward Jones, Keil Financial Partners and Fairway Wealth Management outlined concrete steps—stock exposure, Treasury Inflation‑Protected Securities and diversified assets—to shield...
Advantages of Owning Vanguard Total US and Total International Stocks ETFs Separately
Vanguard’s VTI and VXUS together capture the entire U.S. and international equity markets at a lower blended expense ratio than the all‑world fund VT. Holding the two ETFs separately lets taxable‑account investors claim a Foreign Tax Credit on non‑U.S. dividends,...
U.S. Credit‑Card Balances Drop $25 B in Q1 2026, Yet Debt Remains 5.9% Higher YoY
The New York Fed reported that U.S. credit‑card balances fell by $25 billion to $1.25 trillion in the first quarter of 2026, marking the first quarterly decline in months. Despite the drop, total card debt is still 5.9% higher than a year...
IRS Rules Turn Health Savings Accounts Into Tax Traps for Non‑Spouse Heirs
IRS inheritance rules strip health savings accounts of their tax‑advantaged status when passed to anyone other than a surviving spouse. The entire balance becomes taxable in the year of death, a risk that can thrust heirs into the top 37%...