Author: Money Mechanics

With college costs outpacing inflation, even affluent families are rethinking how to pay less out of pocket during National Scholarship Month, which is this month.The assumption that “we make too much to qualify for aid” is one of the costliest misconceptions in higher education.In reality, billions of dollars in scholarships, grants and state workforce incentives are available — many with no income restrictions at all. From just $107.88 $24.99 for Kiplinger Personal Finance Be a smarter, better informed investor. CLICK FOR FREE ISSUE Sign up for Kiplinger’s Free Newsletters Profit and prosper with the best of expert advice on investing,…

When was the last time that you were paying for your groceries or other items, and the cashier asked, “Would you like to round up your total for charity?” Perhaps they didn’t tell you which charity. Or maybe they simply asked, “Would you like to round it up?”That’s what “Sylvia” and her mother encountered at a home decor chain store that sells bedding, kitchenware and holiday goods.”After all of our items were rung up, my mom paid in cash, and then the cashier said, ‘Would you like to round it up?’ Mom said, ‘Sure, no worry. There is a shortage…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The writer is a partner at law firm Maurice Turnor GardnerI am a great fan of trusts. The trust as a concept has existed for many centuries and it has adapted and evolved with the times. Its resilience and flexibility are remarkable, from holding land to protecting family businesses, and it can be the most useful tool for strategic planning. The UK tax rules may have impacted the use of trusts but they can still play an important role.But if you are…

If you go on a trip over the holidays, whether for a vacation or a family visit, you’ll usually face packed airports and elevated prices for airfare and hotels. But after the December hustle and bustle subsides, opportunities abound for cost-conscious travelers.January and February are consistently the cheapest months of the year to fly, thanks to shrinking demand following the holiday surge.”It flips from one of the most expensive times to one of the cheapest almost overnight—around January 8,” says Scott Keyes, founder of Going (formerly Scott’s Cheap Flights), a travel company that helps people find and book inexpensive airfare.…

Where Else People Age 55-64 Are Saving Money Asset % Households with Asset Median Value for Asset Holders Savings Bonds 8.5% $3,000 CDs 6.6% $25,000 Stocks (directly held) 19.2% $30,000 Retirement Accts 57% $185,000 Bonds (directly held) 1.2% $400,000 Source: The Federal Reserve’s “Survey of Consumer Finances” (2022) “Directly held” means the asset is not in a retirement account. The value of bonds in this table looks much higher than the other categories, especially given that only a tiny fraction of 55-64-year-olds owns directly held corporate or municipal bonds. This small group either holds numerous bonds, bonds with high values,…

Key Takeaways While most Americans consider $1.5 million to be the “magic number” that they need to save in order to retire, experts advise saving more than that. One reason why more than $1.5 million is needed is due to expenses such as healthcare, inflation, and unforeseen costs. Those looking to retire early should consider either continuing to work in some capacity or being more aggressive with their savings during their working years. According to Northwestern Mutual, the average American thinks they need to save $1.26 million by age 65 in order to retire comfortably. Last year, that figure was…

A Lot of Americans Will Hit the Road—and Sky—This Week. Here’s What to Expect 15 minutes ago If you’re traveling this week, you’ll be in good company. A record 81.8 million Americans are expected to travel 50 miles or more for Thanksgiving, according to the American Automobile Association, likely leading to crowded roads, airports and airplanes from Tuesday onward. About 1.6 million more people are expected to travel this year than did in 2024, with nearly 90% driving to their destination, AAA said. Some families may have decided driving was a better option, given that the Department of Transportation ordered flight traffic…

demand is going to continue growing, but insufficient investment could tip fundamentals into imbalance, Russia’s Alexander Novak said today in Beijing. Global demand for oil is about to reach 104.6 million barrels daily this year, the Deputy Prime Minister said, as quoted by TASS. That is slightly lower than OPEC’s demand forecast of 105.14 million barrels daily. Investment in new supply, however, is slow, which has raised the risk of a shortage, according to the official, who is Russia’s top negotiator in OPEC+. Natural depletion at mature fields is one reason for this situation, Novak noted, and the higher cost…

The Insurance Council of Australia (ICA) has declared an Insurance Catastrophe for the strong winds and damaging hail that affected South East Queensland between Sunday, November 23, and Monday, November 24, with the firm noting that insurers have already received more than 16,000 claims.Under the ICA’s catastrophe declaration, which currently covers claims across more than 140 postcodes and will be referred to as CAT 255, insurers will prioritise claims from affected policyholders and triage them to ensure urgent support is provided to the worst-impacted property owners. Moreover, it has also been confirmed that ICA representatives will be assigned to work…

This Week In A Nutshell Rates are a little lower with investors more hopeful for a rate cut at the December 10 Fed meeting after a mixed jobs report and New York Fed President John Williams signaling openness to another cut “in the near term.” But it truly feels like a coin toss, with no new data of significance coming before the meeting and the Fed entering their blackout period on November 29. Upcoming Attractions This is a quiet week with no Fed speeches and few important data reports, just mostly delayed data releases from September. September retail sales (Tuesday):…