Next time you’re booking travel, it may be tempting to skip purchasing a travel insurance policy to cut corners and save some money. But saving a little now could actually end up costing you more later — if you lose your baggage, need to cancel your trip, or encounter unexpected medical costs while traveling. According to Bankrate’s 2022 Travel Woes survey, “79% of travelers who have taken an overnight trip outside their local area this year experienced at least one travel-related issue.”...

In seconds, users can create a free account and ask the software for help with virtually anything from “help me write a business plan,” to “what should I do for my 10-year-old’s birthday party.” It seems as though the stream of knowledge an AI software can provide is endless, but what are the limitations of this technology, and when it comes to your personal finances are your money-related questions better left to the (human) pros. What exactly is ChatGPT? ChatGPT is a chatbot that was first...

The problem: investing has been shown to be a key wealth-builder over time, and the earlier you start investing, the more time your money has to grow. How investing can translate to greater wealth U.S. stocks, as represented by the S&P 500 index, have returned a historic annualized average return of around 11.88% between 1957 and 2021, according to experts. It’s important to note that this figure doesn’t tell the whole story of how inflation and stock market swings can impact your returns and...

“This minimum tax would make sure that the wealthiest Americans no longer pay a tax rate lower than teachers and firefighters,” the White House said in a press release earlier this week. According to the statement, billionaires pay an average tax rate of just 8% in a given year. What is the billionaire tax? The Billionaire Minimum Income Tax will require that America’s wealthiest households pay a tax rate of at least 20% on their full income, including unrealized appreciation (more on that...

But for many Americans, the purchase of a new car is sometimes a non-negotiable if they rely on a vehicle to get to work, get their kids to and from school, or don’t have a reliable public transportation system to lean on. Determining how much you can comfortably afford will ultimately depend on your personal budget. And even then, with car buying costs having increased significantly, many buyers are finding themselves stretching their budgets to the limit in response to interest rates and...