Jovita Carranza, administrator of the U.S. Small Business Administration, speaks as Steven Mnuchin, U.S. Treasury secretary, listens at a House Small Business Committee hearing in Washington, D.C. Erin Scott | Getty Images The federal government is about to turn off the tap on its supply of forgivable loans for small businesses. Saturday, Aug. 8 is

The top source of financial stress is saving enough for a comfortable retirement, a worry that is trending upward as a result of the pandemic, according to a newly released nationwide survey by Charles Schwab of 1,000 currently employed 401(k) plan participants between the ages of 25 and 70.  The survey, conducted between May 28 and

U.S. Treasury Secretary Steve Mnuchin and White House Chief of Staff Mark Meadows at the U.S. Capitol on Aug. 1. Stefani Reynolds/Bloomberg via Getty Images A $600 boost to weekly unemployment checks ended Friday, leaving many families wondering how to pay for rent, food and other bills this month. Democrats want to extend the payments,

President Donald Trump speaks to the media before boarding Marine One on the South Lawn of the White House on July 31. Yuri Gripas | Abaca | Bloomberg | Getty Images President Donald Trump might not have to wait for Congress to pass his payroll tax cut. He may be able to do it on

Joshua Roberts | Reuters Capitol Hill lawmakers seem to agree on one thing: Sending a second round of stimulus checks to help Americans weather the economic storm brought on by the Covid-19 pandemic is is  worthwhile. But the conditions around who gets those checks could still be subject to change, particularly when it comes to

Getty Images If you’re like many Americans, the Covid-19 pandemic has prompted a financial reality check: You haven’t saved enough. A recent Bankrate survey found that 55% of Americans have regrets over their emergency savings, or lack thereof. Experts agree that having an emergency fund can help you whether you face a job loss or

Hundreds of unemployed Kentucky residents wait in long lines outside the Kentucky Career Center for help with their unemployment claims. John Sommers II Individuals receiving unemployment benefits this year could face a tax surprise in 2021: owing Uncle Sam or receiving smaller refunds. Some 1.43 million people filed for unemployment last week, according to the

Couple buying a new house. PeopleImages | Getty Images A Roth individual retirement account is often cited as a way to save for your golden years. It could  also help you buy a house. In a nutshell, up to $10,000 in earnings can be withdrawn from such an account — free of both taxes and

Protesters gather at a July 22 rally in Boston in support of legislation to block evictions in Massachusetts for up to a year. Boston Globe | Boston Globe | Getty Images If you’re facing eviction during the pandemic, you’re definitely not alone.  Up to 40 million Americans may lose their homes in this downturn, four times the

U.S. Senate Majority Leader Mitch McConnell (R-KY) arrives as Senate Republicans hold their weekly policy lunch on Capitol Hill in Washington, June 16, 2020. Jonathan Ernst | Reuters The $600 boost in weekly unemployment checks ends Friday. With negotiations between Democrats and Republicans at an impasse, millions relying on that aid are in the dark

For millions of students with disabilities and special needs in U.S. public and private schools, the shift to remote learning has created an even greater host of challenges — and, in some cases, additional financial pressures for their families.  Special needs students require varied educational and support services. In this coronavirus pandemic, many families are

Getty Images When a person passes away, it’s not unusual for them to leave behind some unpaid debt. So what happens to those remaining balances? It depends.  Upon death, a person’s assets — no matter how meager or massive — become their “estate.” This includes everything they own: financial accounts, real estate and possessions. And,

Sen. Marco Rubio, R-Fla., and Sen. Mitt Romney, R-Utah, at a town hall meeting in Aston, Pa., in 2012 when Romney, as governor of Utah, was campaigning for U.S. president. AP Photo/Jae C. Hong A second set of stimulus checks could be on the way, but the ink on the deal hasn’t dried yet. On

U.S. President Donald Trump delivers a speech during a tour of the Double Eagle Energy Oil Rig in Midland, Texas, July 29, 2020. Carlos Barria | Reuters Lawmakers on both sides of the aisle are in agreement on sending a second batch of $1,200 stimulus checks to millions of Americans. And now President Donald Trump

LeoPatrizi There may be a financial storm brewing at a key intersection on Main Street. Roughly 35% of small-business owners in a survey said they’ve needed to tap their own funds — via a personal credit card and/or savings, for example — to help prop up their business in the months since the coronavirus whacked

People walk past the U.S. Federal Reserve building in Washington D.C., the United States, May 21, 2020. U.S. Federal Reserve Chair Jerome Powell on Thursday said the COVID-19-induced economic downturn has inflicted acute pain across the country, noting that the burden is not evenly spread. Ting Shen | Xinhua via Getty Images Some borrowers benefit

Residents of Imperial County in California wait in a bookkeeping shop in Calexico after filling out unemployment forms on July 24. Photo by Mario Tama/Getty Images Senate Republicans unveiled their plan to replace an extra $600-a-week boost in unemployment benefits on Monday. That subsidy — which the federal government has been paying on top of typical

fstop123 | E+ | Getty Images This summer, more than a dozen states are offering shoppers a back-to-school sales tax break. Whether it’ll be enough to draw legions of parents to mom-and-pop shops amid a pandemic is looking iffy. Depending on the state where you’re shopping, you can knock off anywhere from 4% (Alabama) to

Senate Majority Leader Mitch McConnell, R-Ky., leaves the Senate Republican Policy luncheon in Hart Building on Tuesday, July 21, 2020. Tom Williams | CQ-Roll Call, Inc. | Getty Images A second round of $1,200 stimulus checks could be coming, thanks to Senate Republicans’ new stimulus proposal. The terms of the new payments were outlined in

Senate Majority Leader Mitch McConnell, R-Ky. Photo by Stefani Reynolds/Getty Images Republicans have introduced their proposal for the next coronavirus relief package, a $1 trillion plan called the HEALS Act.  Notably absent from their agenda: relief for people with student debt. The plan calls for streamlining the number of repayment options, but wouldn’t extend the

skynesher | E+ | Getty Images You know you need a cash cushion. But the numbers can be daunting. Experts say you need three to six months of living expenses — or even more. If you’re put off by the numbers — how do you save when you can barely make ends meet? — focus

Senate Majority Leader Mitch McConnell, R-Ky., arrives at the U.S. Capitol in Washington, D.C., on Monday, July 27, 2020. Sarah Silbiger/Bloomberg via Getty Images Unemployment benefits would be cut by nearly half in a new plan proposed by Senate Republicans on Monday. The policy is expected to replace a $600-a-week federal boost, which lapsed over the

Hispanolistic | E+ | Getty Images Months of economic uncertainty have driven people to turn toward a normally forbidden pot of cash: their retirement savings. The CARES Act, which President Donald Trump signed into law this spring, allows individuals affected by the pandemic to take emergency withdrawals of up to $100,000 from their retirement plans.

In response to the coronavirus pandemic, a growing number of U.S. colleges have said their campuses will remain closed through the fall semester.  Still, students are heading back to school as soon as this weekend. For some, there is nowhere else to go. About 52% of high school and college students said going back to school

Cynthia Pineda lost her accounting job in early April. Without the $600 weekly unemployment boost, she’ll get just $275 each week in aid from Florida. Meanwhile, finding a new job has proven extremely challenging. Cindy Pineda was the breadwinner of her family before the coronavirus pandemic hit. But Pineda, 60, lost her accounting job in

Blank Social Security checks are run through a printer at the U.S. Treasury printing facility February 11, 2005 in Philadelphia, Pennsylvania. William Thomas Cain | Getty Images Congress won’t move on the next round of stimulus legislation this week. Despite that, however, a second set of stimulus checks is still on the table. Draft legislation

Jovita Carranza, administrator of the U.S. Small Business Administration (SBA), speaks as Steven Mnuchin, U.S. Treasury secretary, left, listens during a House Small Business Committee hearing in Washington, D.C. Erin Scott | Getty Images Details of  Senate Republicans’ version of a coronavirus aid bill are starting to emerge. Accountants question whether it will provide enough

People who lost their jobs wait in line to file for unemployment benefits, following an outbreak of the coronavirus disease (COVID-19), at Arkansas Workforce Center in Fort Smith, Arkansas, U.S. April 6, 2020. Nick Oxford |File Photo | REUTERS In mid-March, Erin Madden was furloughed from her job as a bartender at the Hollywood Burbank

10’000 Hours The ask First, take your pre-Covid-19 job description and evaluate how your position has changed since. “You have probably taken on way, way more responsibilities,” said Jaras, author of “Know Your Worth, Get Your Worth” and host of the podcast, Her Career Talk. Take a “red marker” to that job description and underline

With declining enrollments, reduced giving and state funding cuts, colleges are resorting to last-ditch efforts to stay afloat. Now teachers are the latest victims of extreme cost cutting. The University of Akron, Boston University and the University of Arizona are just a few of the schools to lay off or furlough staff in response to the