Personal Finance

PhotoAlto/Dinoco Greco American teens are worried about the financial impact of the coronavirus pandemic on their family — and on their future. According to a survey by Junior Achievement, 57% of teenagers said they were concerned about how Covid-19 will affect their life after high school. Of the high school juniors and seniors polled, 27%

(Credit: Getty | PeopleImages) When the government launched a web tool on April 15 so that eligible Americans could find out the status of their coronavirus stimulus payments, Jake Koepke was eager to log on. But the central Wisconsin resident, 34, was disappointed to find himself shut out after three failed attempts to get onto

U.S. households that already were less prepared to weather a financial storm are getting hit hardest from the recent rash of job losses across the country, research shows. Adults with lower income (under about $37,500 annually) and middle income ($37,500 to $112,600) comprise a greater share of those who have lost their job or taken

The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. Angus Mordant | Reuters Stay-at-home orders aren’t only hitting mom-and-pop businesses. They’re also a driver behind the cratering price of oil. For example, the cost of a futures contract for

US Senator Chuck Schumer speaks at media briefing with mayor Bill de Blasio on first death related to COVID-19 outbreak in New York CIty at City Hall. Lev Radin | Pacific Press | Getty Images Congress is hashing out the terms for the next package of federal loans for small businesses, even as millions of

freemixer | E+ | Getty Images Social Security beneficiaries who do not typically file tax returns have until tomorrow to tell the government to include their dependent children in their stimulus payments.  The U.S. government is in the process of deploying one-time checks of up to $1,200 to Americans who qualify, including those receiving Social

Raymond Boyd Some big restaurant chains have gotten called out in recent days for using a loophole in the $2.2 trillion coronavirus relief law to access loan money earmarked for smaller businesses. Potbelly Sandwich Shop, for example, got a $10 million loan from the Paycheck Protection Program — the upper lending limit. Ruth’s Chris Steak House got

Close up of a mature man paying bills Geber86 Back away from your 401(k). Now is not the time to grab your money and go. Recent changes stemming from the CARES Act, the stimulus package passed Congress and signed into law by President Donald Trump in March, give you greater access to the money before retirement without

One conundrum that some investors face is how to capture the safety of bonds while trying to get in on riskier stock-like returns. Enter convertible bonds. These hybrid investments are corporate-issued bonds that pay interest — generally higher than U.S. Treasury rates but lower than those on regular corporate bonds. After a predetermined length of

miodrag ignjatovic Younger Americans are eager to eat and drink out in public again. They will, however, likely shy away in large numbers from festivals, sports venues and international trips for a while once conoravirus lockdowns are lifted across the U.S., perhaps preferring to shop online from home while waiting to see how vaccine trials

NoDerog | iStock | Getty Images Millions of Americans received stimulus checks from the U.S. government this week to help stave off the negative economic effects of the coronavirus. But many people are still asking: Where is my money? If you haven’t received your payment yet, take heart: Millions more Americans are slated to receive

Empty desks and chairs in a high key cafeteria room with no people during corona virus pandemic. Giulio Fornasar Samantha Costanza was furloughed in March by her company, which designs merchandise for Broadway shows, all of which are now closed due to the coronavirus pandemic.  “I had not heard of the term ‘furlough’ before, and assumed

andresr/Getty Images This week was supposed to include Tax Day, when personal income taxes are traditionally due. Instead, it marked a different big milestone: the beginning of the coronavirus stimulus payments. Now, Congress has updated its timeline on when subsequent rounds of payments can be expected. Here’s the latest, according to the House Ways and

The seal of the Internal Revenue Service (IRS) hangs on a podium during an IRS Criminal Investigation 100th year anniversary event at the agency’s headquarters in Washington, D.C., U.S., on Monday, July 1, 2019. Photographer: Andrew Harrer/Bloomberg via Getty Images Bloomberg An unlikely group counts itself among the recipients of the coronavirus stimulus checks: the

Wondering where your coronavirus stimulus payment is? The delay could be due to a glitch related to your tax preparation service. A new report from The Washington Post on Thursday estimates that millions of Americans could still be waiting to see their stimulus money if they previously filed their taxes with companies like TurboTax, H&R

Jonathan Nackstrand | Getty Images For Americans sheltering at home, life, as they once knew it, is on hold. Because of the global pandemic, weddings and graduations are postponed, while upcoming conferences, concerts, sporting events and vacations are all canceled. That has left nearly 4 in 10 adults — or 59 million people —  with out-of-pocket costs,

Damir Khabirov | iStock | Getty Images Some Americans who are eagerly awaiting their coronavirus stimulus payments may be in for an unwelcome surprise: less money than they had expected. News that $1,200 payments are coming to individuals and $2,400 for couples has made headlines since Congress passed the CARES Act in March. Dependents are

Hero Images | Getty Images In an uncertain period, money may be the first thing to wobble. Over the last few weeks, 16 million filed for unemployment. Many more are frightened about job security. It’s an excellent time to strive for some peace of mind by smoothing out unpredictability. To make matters worse, unexpected expenses

Yuka Ioroi, co-owner of Cassava restaurant on Balboa Street in San Francisco manages take-out orders on April 8, 2020. San Francisco Chronicle/Hearst Newspapers via Getty Images Nearly 7.5 million small businesses are at risk of closing their doors permanently over the next several months if the coronavirus pandemic persists, according to a survey. Around two-thirds

Ahmad Alsheikh, 18, was admitted to the Harvard class of 2024. Source: Ahmad Alsheikh For Ahmad Alsheikh, 18, gaining acceptance to Harvard’s Class of 2024 was a lifetime in the making.  Alsheikh and his family came to the U.S. from Syria, seeking asylum from that country’s civil war. Yet in starting school as a high school

Getty Images If you’d planned on making a payment to the IRS on April 15 and now want to reschedule due to the coronavirus pandemic, you’re running out of time. In March, the IRS and Treasury Department announced it would give taxpayers until July 15 to file their 2019 income tax returns and make any necessary payments.

Jetta Productions | Iconica | Getty Images As the economy craters, small businesses are among the hardest hit. When unemployment claims began to jump nationwide in March, layoffs among small business spiked 1,021% compared to the month before, according to exclusive data compiled by human resource provider Gusto, based on more than 100,000 small businesses nationwide.

Unemployment applications are seen as City of Hialeah employees hand them out to people in front of the John F. Kennedy Library on April 08, 2020 in Hialeah, Florida. (Photo by Joe Raedle/Getty Images) Joe Raedle Americans are applying for unemployment in record numbers as the coronavirus pandemic has effectively shuttered much of the U.S.

A new government tool to file for coronavirus stimulus checks is here, and that’s good news for some Social Security recipients. The government is urging certain individuals to apply using that tool now to make sure they receive timely payments and the full amounts for which they are eligible. This week, the Treasury Department and

The Internal Revenue Services offices in Washington, D.C. Adam Jeffery | CNBC The IRS is giving taxpayers extra relief on upcoming deadlines, pushing the due date for more  returns and payments to July 15. Taxpayers have three more months to submit their 2019 income tax returns and payments, and now the IRS is granting additional

kate_sept2004  If you’re paying a financial advisor to guide you through current market havoc, groups representing those professionals want you to nab a tax break for those fees. A quintet of groups representing financial advisors is calling upon Congress to restore a tax deduction for advisory fees. “We think it’s good public policy at any

As more than 16 million Americans have lost their jobs in the last three weeks, many have scrambled to apply for unemployment insurance to help cover their expenses. And some workers age 62 and up may also consider tapping another source: Social Security retirement benefits. During the financial crisis, more people decided to file for

Framing designer Leticia Bartelle Lorenzoni searches Social Security services on the internet in her house after losing her job at a framing art gallery, during the coronavirus outbreak, in Los Angeles, California on April 1, 2020. APU GOMES Many Americans, now more than ever, are learning how to stretch their dollars. Faced with layoffs, furloughs

With most Americans under stay-at-home orders due to the coronavirus outbreak, the roads are quieter – and safer – than usual. So why should you keep paying your regular auto insurance premium?  Many insurers have a perhaps surprising answer to that question: You shouldn’t.  Allstate announced this week that it would slash April and May’s

A Japanese male businessman typing on a laptop computer. kazuma seki Whether you were looking for a new job before the coronavirus pandemic hit or have lost your job because of it, one thing is clear: Getting hired now isn’t going to be so easy.  “We’re seeing a lot of interviews rescheduled or canceled,” said Emily