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The average homeowner is sitting on a sizable amount of equity that could be worth borrowing now that the Federal Reserve is cutting interest rates again. Jason marz/Getty Images The Federal funds rate is now at its lowest level since 2022. That was the big financial news on Wednesday afternoon after the Federal Reserve issued another interest rate cut, this time in the amount of 25 basis points. The cut was the third such one in the last four months, dropping the federal funds rate to a range of 3.50% to 3.75%. Now at its lowest level since November 2022, the…

The average homeowner is sitting on a sizable amount of equity that could be worth borrowing now that the Federal Reserve is cutting interest rates again. Jason marz/Getty Images The Federal funds rate is now at its lowest level since 2022. That was the big financial news on Wednesday afternoon after the Federal Reserve issued another interest rate cut, this time in the amount of 25 basis points. The cut was the third such one in the last four months, dropping the federal funds rate to a range of 3.50% to 3.75%. Now at its lowest level since November 2022, the…

See how the central bank’s interest rate stance influences car loans, credit cards, mortgages, savings and student loans.

Amna Nawaz: The Trump administration has reached a joint settlement with seven states that will effectively shut down a key Biden era student loan relief program.John Yang looks at what’s behind the change and what it could mean for borrowers in the months ahead — John. John Yang: Amna, it’s called Saving on a Valuable Education, or SAVE. It bases borrowers’ monthly payments on their incomes and provides a faster path to loan cancellation.The Trump Education Department doesn’t like it. Instead, it’s created several other repayment options. And with this proposed settlement of a lawsuit brought by seven Republican states,…

CLINTON TWP., Mich. (WXYZ) — Americans are heading into this year’s holiday season carrying more credit card debt than ever before. Paying off that debt in the New Year could be an even greater challenge due to factors like inflation, high rent, and high interest rates.Watch Peter’s report in the video player below How to keep holiday spending in check as American credit card debt reaches record high According to the New York Federal Reserve, outstanding credit card balances jumped to a record $1.23 trillion in the third quarter of this year, up six percent from last year.With Christmas just…

Map showing the average credit card debt by state in 2025, based on TransUnion data. The average U.S. credit balance is $6,523.

TPG Inc. blew through an earlier goal to raise more than $6.2 billion for a fund that will invest in privately negotiated debt deals as it capitalizes on looming maturities and higher financing costs.

We want to be generous, but life doesn’t get any cheaper. So, how do you get the gifts worth giving without breaking the bank?

Building an emergency fund is one of the smartest ways to protect your financial stability. When the unexpected hits, like a surprise rent increase, a broken appliance, or a gap between paychecks, having money set aside can keep you from scrambling or relying on credit. Even a small cushion can make stressful moments feel more manageable.   If you’re not sure how much to save or how to get started, this guide breaks down the basics so you can begin building a safety net that fits your life.  Why an Emergency Fund Matters  An emergency fund is money set aside to…

We won’t sugarcoat it: divorce is difficult. On top of big changes in your personal life, you’re also dealing with significant financial challenges, like splitting assets, taking on new bills, and paying legal fees.  Let’s explore some strategies for managing money after divorce to help you clear these hurdles—without pulling your hair out.   5 Steps for Managing Money After Divorce  Managing money after divorce isn’t just about cutting expenses—it’s about rebuilding a stable financial foundation. These steps can help you regain clarity, control, and confidence as you move forward.  1. Create a Budget  If you didn’t have a budget before,…