Personal finance

marekuliasz | iStock | Getty Images Deciding when to claim Social Security retirement benefits is probably one of the most important financial decisions you will make in your lifetime. Yet many people are at risk of failing to pick the right strategy for them. The stakes are high. If you claim too early, you’re signing

The U.S. Department of Education will automatically suspend payments for most student loan borrowers through the end of the year. Mark Chilton | iStock | Getty Images Most student loan borrowers don’t have to start making payments on their debt again until January 2021.  With Republicans and Democrats locked in a stalemate on the details of

JGI/Jamie Grill There may never be a better opportunity than now to teach your kids about money. Many parents are likely spending more time with their children thanks to closed summer camps and virtual schooling brought on by the coronavirus pandemic.  “We don’t always get a chance in our life to pause and be this

franckreporter | E+ | Getty Images College students whose parents have lost their jobs could be facing more pain next year. That’s because their financial aid packages could fall far short of what they need to cover the cost of their education. On Oct. 1, students can start filling out the Free Application for Federal

Democratic presidential candidate Joe Biden speaks at a June 25 campaign event in Lancaster, Pennsylvania. Mark Makela | Reuters Health insurance for the nation’s older population could undergo some changes if Joe Biden wins the presidential election in November. The Democrat nominee wants to expand both Medicare coverage and eligibility for the program, as well

Jennifer Moon has waited more than two months for unemployment benefits — and the delay presented a scary situation. Absent any income, the 46-year-old, who lives in Cedartown, Georgia, fell behind on bills. Lenders repossessed her car. She lost water at her home, which she rents, before a friend helped pay the bill. Most significantly, Moon,

CasarsaGuru | E+ | Getty Images This fall’s back-to-school shopping list certainly isn’t looking like those of years past. With many schools across the country going virtual, or offering part-time distant learning, parents are rethinking what their kids will need as the school year gets underway. “We’re being forced to really look at how we

Former Vice President Joe Biden, Democratic presidential nominee, speaks during the Democratic National Convention at the Chase Center in Wilmington, Delaware, U.S., on Thursday, Aug. 20, 2020. Stefani Reynolds | Bloomberg | Getty Images Joe Biden accepted the Democratic presidential nomination on Thursday night, which could be the beginning of a series of reforms for

The Federal Emergency Management Agency, which is overseeing program funding, had approved 13 states to offer the extra unemployment benefits as of around noon ET on Friday.  Those states are: Arizona, Colorado, Idaho, Iowa, Kentucky, Louisiana, Maryland, Michigan, Missouri, Montana, New Mexico, Oklahoma and Utah. Seven others — Alabama, Alaska, Arkansas, California, Indiana, Texas and West

Hill Street Studios | DigitalVision | Getty Images Some taxpayers are getting a surprise in the mail from the IRS: a notice indicating that they still owe money, even if they’ve paid. Earlier this spring, when many IRS workers — as well as many other employees — were told to work from home due to

When it comes to a second round of $1,200 stimulus checks, there’s good news and bad news. The good news: Both political parties have said they want to send Americans more direct payments. The bad news: Congress needs to agree on the next coronavirus stimulus package in order for that money to come through. Talks

Unemployed Kentucky residents enter the Kentucky Career Center for help with their unemployment claims on June 19, 2020 in Frankfort, Kentucky. John Sommers II/Getty Images Kentucky and Montana It appears just two states — Kentucky and Montana — are opting to pay $400 instead of $300. As of Thursday, Montana was the only state to implement the

For the colleges that still plan to bring students back to campus, there is no shortage of expenses associated with in-person instruction. From Covid-19 tests to new standards for cleaning and disinfecting, the costs are adding up. For students, that is translating into new fees on an already sky-high tuition bill.  More from Personal Finance:Here’s

People wait for their numbers to be called at an unemployment event in Tulsa, Oklahoma, on July 15, 2020. Photo by Nick Oxford for The Washington Post via Getty Images Some workers got an extra $300 in unemployment benefits this week. That aid will start flowing to others in coming days.  But thousands of out-of-work

A President Donald Trump and a former Vice President Joe Biden supporter converse before the Joe Biden Campaign Rally at the National World War I Museum and Memorial on March 7, 2020 in Kansas City, Missouri. Kyle Rivas | Getty Images When Americans go to the polls this November, preventing Social Security benefit cuts will

Getty Images Credit card debt is even more of a problem during the pandemic than usual. Almost two-thirds of Americans with credit card debt are worried about being able to make minimum payments in the next three months if the crisis continues, according to a CreditCards.com poll. The good news is that some are already

Carlos Ponce joins other demonstrators participating in a protest asking Senators to support the continuation of unemployment benefits on July 16, 2020 in Miami Springs, Florida. Joe Raedle | Getty Images Workers in a handful of states may soon see a $300-a-week bump in their unemployment benefits. The federal government has approved funding for seven

Former vice president and presumptive Democratic presidential nominee Joe Biden and running mate Sen. Kamala Harris, D-Calif., hold a press conference after a briefing on Covid-19 in Wilmington, Delaware, on Aug. 13, 2020. Mandel Ngan | AFP | Getty Images The coronavirus pandemic could have a big impact on Social Security’s financial prospects. And that

Democratic presidential nominee and former US Vice President Joe Biden introduces his vice presidential running mate, US Senator Kamala Harris, during their first press conference together in Wilmington, Delaware, on August 12, 2020. Olivier Douliery | AFP | Getty Images Though former vice president Joe Biden has proposed raising taxes on the wealthiest households, accountants

U.S. President Donald Trump talks to reporters as he leaves the White House for a trip to Minnesota and Wisconsin August 17. Chip Somodevilla/Getty Images) A $300-a-week federal boost to unemployment benefits may end shortly after it starts. In some states, recipients may only get three weeks’ worth of payments — if they get it at