Category: personal finance

Remember, Everyone Makes Mistakes

November 9, 2022
BrightFamilymoneypersonal financerelationships
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Dear Dave, I am on Baby Step 2 of your plan, and I am about four months away from being debt-free. My younger brother is a good person, but he is very careless with his finances. He is always asking to borrow money from me. I don’t want to be mean or damage our relationship,…

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Why You Will Pay Less for Medicare in 2023

November 9, 2022
BrightMedicareMedicare Advantagepersonal financeretirement
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During this time of high inflation rates, seniors will be glad to hear that some Medicare plan costs will be reduced in 2023. It is certainly good news after hearing that the cost-of-living adjustment (COLA) is higher for 2023 than it has been for a long time. It means seniors will not have to spend…

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Don’t Overthink Social Security Starting Date Questions

November 9, 2022
Brightfull retirement ageLifestylepersonal financeretirementretirement benefitsSocial Security
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I frequently get emails from readers who turn a little molehill of an issue into a big mountain of a problem, and it has to do with the starting date for their Social Security benefits. The Social Security retirement application asks a question that goes something like this: “Which month do you want your benefits…

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Auto Loan Delinquencies Rise to Highest Level in a Decade as Borrowing Costs Rise

November 9, 2022
auto loansBusiness & Marketseconomic policieseconomyinflationinterest ratespersonal financeUSUS News
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The number of Americans failing to pay their auto loans has risen to the highest level in a decade as borrowing costs rise. Credit agency TransUnion tracks more than 81 million auto loans throughout the United States. It announced that 1.65 percent of auto loans, or 200,000 customers, were at least 60 days behind their…

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Australian Government Eyes Wealthy Retirees as It Considers Super Tax Concession Cuts

November 9, 2022
AustraliaBusiness & Marketseconomic policieseconomyinflationpersonal financeStephen Jonessuper tax concessionsWorld
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The Australian centre-left Labor government is considering cutting superannuation tax concessions for Australians with high retirement savings as it looks for avenues to improve the budget’s bottom line. Speaking at The Australian Financial Review Super & Wealth Summit on Nov. 8, Financial Services Minister Stephen Jones said the federal government would bring up a debate…

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Closing Prices for Crude Oil, Gold and Other Commodities (Nov. 8)

November 8, 2022
Benchmark U.S. crudeBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for December delivery fell $2.88 to $88.91 a barrel Tuesday. Brent crude for January delivery fell $2.56 to $95.36 a barrel. Wholesale gasoline for December delivery fell 1 cent to $2.64 a gallon. December heating oil fell 1 cent to $3.77 a gallon. December natural gas fell 80 cents to $6.14…

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Family Finances: The Advantages of Filling out the FAFSA

November 8, 2022
BrightbudgetingFAFSAFederal Student Aidpersonal finance
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By Emma Patch From Kiplinger’s Personal Finance The Free Application for Federal Student Aid (FAFSA) that determines students’ eligibility for federal grants, loans, and work study, became available on Oct. 1 for the 2023-24 academic year. It typically takes from 30 to 60 minutes to complete the FAFSA (available at www.studentaid.gov), yet many students or their…

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The State of the US Economy on Election Day

November 8, 2022
2022 Midterm ElectionsBusiness & MarketscongressDemocratseconomic policieseconomyinflationMarketsMidterm electionspersonal financePolicies & ImpactsPoliticsrecessionRepublicansU.S. economyUS
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Millions of Americans are heading to polls, with many seeing the struggling state of the U.S. economy as their primary concern for Election Day. The highly anticipated Nov. 8 midterm elections are a referendum on President Joe Biden and the Democrats, as the Republicans attempt to take back both houses of Congress. If the Republicans…

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Credit Card, Personal Loan Balances Hit Record Highs Amid Soaring Inflation, Rising Rates

November 8, 2022
Business & MarketsCredit Cardsdebt balancesdelinquencieseconomyinflationpersonal financePersonal LoansratesUSUS News
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As consumers grapple with surging inflation and rising interest rates, more Americans are taking on extra debt to mitigate household financial pressures, a new report found. According to TransUnion’s Q3 2022 Quarterly Credit Industry Insights Report (CIIR), credit card balances advanced 19 percent year over year in the third quarter, to an all-time high of…

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Midterm Elections Could Bring Higher Taxes In Some States: What Voters Need to Know

November 8, 2022
2022 Midterm ElectionsArizona Proposition 132billionaires taxBusiness & MarketsColorado Proposition 121Colorado Proposition FFeconomic policieseconomyinflationMassachusetts Question 1personal financePolicies & ImpactsPoliticstax policytax the richUS
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As Americans head to polls in one of the highest turnouts for midterm elections, several major issues are on the table, such as tax policy changes that will have a significant impact on Americans’ personal financial situations. Tax policy involves everyone from the average earner to the richest Americans, and accounts for deductions and incentives,…

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