The American dream is to get an education, get a job, buy a home, and live the good life. When that dream becomes a reality, especially when you own a home, you likely will be able to build a nice nest egg and pass it on to your family. Latino Homeownership And Wealth Accumulation For Latinos, achieving the American dream is harder. Although Latinos are buying homes at an accelerating rate — according to a 2023 report from the National Association of Hispanic Real Estate Professionals, nearly 50% of Latino households have purchased a house — they never really own…

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. In this episode: Get tips for saving money on Halloween costumes and decorations, plus how to leverage credit cards when making big purchases.How can you use credit cards to maximize rewards when making big purchases? What are some ways to save money on Halloween costumes? Hosts Sean Pyles and Elizabeth Ayoola discuss saving money on Halloween costumes and decorations to help you understand how to be festive without breaking the bank. They begin with a discussion of Halloween budgeting, with tips and tricks on DIY costume ideas,…

A federal appeals court seems inclined to strike down President Joe Biden’s newest student debt relief initiative that reduces payments for millions and provides a pathway to student loan forgiveness. And a potential far-reaching ruling could eliminate loan forgiveness under several much older repayment programs, as well. In August, the 8th Circuit Court of Appeals issued a nationwide injunction blocking Biden’s SAVE plan while a legal challenge brought by Republican-led states continues. SAVE is the newest income-driven repayment, or IDR, plan. Like all IDR plans, the program uses a formula to tie a borrower’s monthly student loan payments to their…

Barring sudden changes, the national average price of gas looks like it could soon drop below $3 per gallon for the first time since May 2021. It’s an arbitrary threshold but it feels significant. 2021 prices? That’s practically pre-pandemic!As prices fall, drivers are regaining some buying power at the gas pump. To show how much, let’s say you have $20 to spend on fuel, and you’re paying the national average for regular gas (as of Oct. 28). At the current U.S. average price of $3.13 per gallon, you could buy about six gallons for $20, filling roughly half a tank. (Gas…

In many ways, Donald Trump and Kamala Harris have drawn tax policy maps that are mirror images of one another. While few ideas overlap, the two 2024 presidential candidates could not be charting more divergent tax policy paths. Vice President Harris’s tax proposals generally fit within a well-defined framework. She backs tax cuts for low- and moderate-income households. And she especially favors families with children. Many of her initiatives fit within her “caring economy” model (see here and here). At the same time, she’d raise taxes on high-income households and corporations. With one big exception, she’d stay well within the…

In Part 1 of this series, we talked about various strategies for getting rid of credit card debt and eliminating the sometimes-crushing interest charges that eat into money you could be spending o n things you really want and keep you from saving for retirement or other needs. I’m devoting Part 2 to an in-depth exploration of a strategy known as a balance transfer. If used correctly, a balance transfer credit card can help you pay down those credit card balances and potentially save you hundreds, if not thousands, of dollars in interest payments. But, if you’re not careful, it…

It’s nearly the end of the year and a majority of Americans have regrets about their money moves, or lack thereof, in 2024. Whether they set New Year’s resolutions that didn’t work out, or just thought they’d be further ahead than they are now, a new NerdWallet survey, conducted in Oct. 2024 by The Harris Poll, finds that 69% of Americans have financial regrets for 2024.The youngest adult generation — Gen Z (ages 18-27) — is most likely to be remorseful about money this year. Nearly 9 in 10 Gen Zers (89%) say they have financial regrets for 2024, compared…

Whether you’re a business owner, high earner, or retiree, consider these strategies to reduce taxable income and capital gains taxes to lower your total tax bill in 2024. But don’t sit on these options. Nearly all tax-saving strategies must be done before year-end. 10 Tax Strategies For 2024 Although not an exhaustive list, here are ten ideas to reduce tax (in no particular order): Optimize your investment income Max out retirement plans at work Make a tax-deductible IRA contribution Retirement income planning Stock option/equity compensation tax planning Give stocks to charity with a donor-advised fund Harvest losses Plan distributions from…

With the holiday shopping season inching earlier every year, one of the biggest questions for shoppers comes down to timing: When should you start buying gifts? If you start too soon, you could miss out on some of the best sales. But if you start too late, you could pass up your chance at discounts and free shipping offers before the cutoff dates. And if you shop all season long, you risk racking up spending over three months.To strike the right balance, money experts say plan early, but wait until prices drop to buy items on your list. That means…

There’s an obvious tension in being an entrepreneur and a new parent at the same time. Both require as much attention as you can possibly give. Last year, my wife and I had a rapidly growing business, a toddler, a high-energy dog, and another baby on the way. It seemed like growing the business would just have to wait. Or maybe not. To find some inspiration and advice, I asked three successful entrepreneurs about their experiences raising babies and growing businesses—at the same time. Here’s what they told me. When Cassie’s son was born in December 2019, she had two…