Author: Money Mechanics

Each April, Americans, or someone they hire, work through income tax forms, fill in totals from their financial records and send the results to the IRS.The goal is usually simple: Pay as little to the federal government as legally possible so you can keep more of your hard-earned money.But what if paying more in taxes today could leave you with more money tomorrow? What if voluntarily paying additional taxes now could reduce the amount you and your family pay over your lifetime? From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor. Subscribe from just $107.88…

Most people love saving money. But when the cheapest option wears out quickly, those upfront savings can disappear through repeated purchases, wasted time and constant frustration.That’s become a recurring theme in online communities like Reddit’s r/BuyItForLife, where consumers regularly compare products that lasted decades against cheaper versions that failed after only a few months or years. Many shoppers say they eventually learned the hard way that “saving money” upfront sometimes meant spending more overall.From office chairs that fall apart after a year to cookware that fades, luggage that breaks mid-trip and phone chargers that constantly need replacing, certain “budget” purchases…

When planning for retirement, state taxes on your 401(k), pension, and Social Security benefits should be part of your strategy.Yet while some states offer no retirement taxes on any of these sources, a zero-percent tax rate can lose its shine if you can’t get a doctor’s appointment when you need one.After all, an average 65-year-old retiring in 2026 can reportedly expect to spend $185,500 on healthcare and medical expenses throughout retirement. And living comfortably on a fixed income requires balancing healthcare costs with other top retiree concerns, like housing and daily living expenses. From just $107.88 $24.99 for Kiplinger Personal…

For years, people have been encouraged to build digital libraries of movies, TV shows, music and books. Buying a movie online seems just as permanent as buying a DVD, until it suddenly isn’t.A recent licensing dispute involving Sony has reignited the debate over digital ownership after hundreds of purchased movies disappeared from customers’ libraries. While streaming and digital downloads remain incredibly convenient, many customers are realizing that clicking “Buy” often doesn’t provide the same ownership rights as purchasing a physical copy.That realization is helping fuel an unexpected comeback for DVDs, Blu-rays and other physical media. As subscription costs rise and…

According to Kevin O’Donnell, CEO of RenaissanceRe, the reinsurer’s third-party capital and insurance-linked securities management unit, RenaissanceRe Capital Partners, is experiencing more capital interest in its collateralized vehicles than it can accommodate within its structures.As we recently reported, RenaissanceRe Capital Partners generated just over $83 million of fee income for the reinsurer during Q2 2026. However, speaking during the firm’s Q2 2026 earnings call this week, Bob Qutub, Executive Vice President and Chief Financial Officer of RenRe, explained that the reinsurer opted to not deploy its collateralized reinsurance and retrocession investment fund vehicle Upsilon at the mid-year renewals. Instead, the…

AI image with prompt “Social Security Cola and glass of ice.” Perchance.org By David Enna, Tipswatch.com Each July, since 2017, I have been forecasting the next year’s Social Security cost-of-living adjustment. Over the years, I have learned one thing: It’s important to be humble. This is a nearly impossible task, combining an obscure inflation index, a weird quarter-year average, and summer months of traditionally volatile inflation. And this summer, the inflation picture is hidden in deep fog, making any projection “a wild guess.” COLA basics It is important to understand the needlessly complex way the COLA is calculated, which is…

New listings inched up week over week, but they’re near their lowest level since the start of 2026. Still, there are many more sellers than buyers in the market, giving buyers negotiating power.  U.S. pending home sales fell 1.3% week over week to their lowest level in three months during the four weeks ending July 19. The decline in homebuying demand comes as weekly average mortgage rates rise to a 11-month high of 6.55%. Additionally, home prices are stubbornly high, sitting just about $900 shy of their all-time peak. The topsy turvy U.S. economy, including the resurgence of the Iran…

(BOE Report) – The number of tankers crossing the Strait of Hormuz fell to just one on Thursday, the lowest level since May 7, according to shiptracking data, amid ongoing shipping risks in the Middle East and as oil prices surged back to $100 a barrel. Only one tanker crossed the Strait of Hormuz on July 23, compared with three the day earlier, data from analytics firm Kpler showed. Very large crude carrier New Giant, loaded with 2 million barrels of Iraqi Basrah crude, exited the strait on Thursday and is due to arrive at China’s Rizhao port by mid-August.…

It’s summer, and as the temperature rises, so too do energy bills.According to a recent survey from SupplyHouse, nearly three out of four homeowners (77%) say summer energy bills are causing them financial stress. Additionally, 65% say they’ve already cut back on things like dining out/takeout (49%), shopping (35%), subscriptions (27%) and even groceries (18%) to offset increased energy costs.The result is that many homeowners are searching for ways to stay cool without breaking the bank. “I will admit I’ve been in front of the fridge longer than any grown adult should just to feel something cold on my face,”…

According to average rates from the Zillow lender marketplace, the current 30-year fixed rate today, Saturday, July 25, 2026, rose by 24.1 basis points to 6.696%, the 15-year fixed rate rose by 9.6 basis points to 6.036%, and the 5/1 ARM rose by a whopping 41.4 basis points to 6.637%. Read more: Weekly survey of mortgage lenders with the lowest rates: Rates bubble higher Today’s mortgage rates Here are the current mortgage rates today, Saturday, July 25, 2026, according to the latest Zillow data: 30-year fixed: 6.696% 20-year fixed: 6.705% 15-year fixed: 6.036% 5/1 ARM: 6.637% 7/1 ARM: 6.59% 30-year…