Author: Money Mechanics

Key Takeaways Thursday’s long-awaited report on job creation did little to settle the Federal Reserve’s dilemma about whether to cut its key interest rate in December.The report showed job creation bounced back in September, but that was before the government shutdown.An uptick in the unemployment rate could be used to justify a rate cut, while rising wages could push the Fed to keep rates higher for longer to fight inflation. Thursday’s report on job growth and unemployment in September shed light on the health of the job market but didn’t make clear whether the Federal Reserve needs to save it…

(Oil Price) – Alaska’s production outlook is shifting for the first time in nearly a decade, with the U.S. Energy Information Administration (EIA) on Wednesday projecting that North Slope crude output will rise by some 13% next year as two large fields move into high-volume phases. This would mark the strongest annual increase since the 1980s and a rare break from the long decline that has steadily reduced throughput on the Trans-Alaska Pipeline (TAPS). The agency ties the anticipated jump to new wells and extended-reach drilling tied to major North Slope projects, which are expected to push daily output to around 540,000 barrels…

Key Takeaways After you die, your bank will freeze your savings account to protect your assets and prevent fraud.If you have a will, an executor will administer and distribute your assets.If you don’t have a will, your account will be processed through a probate court, and a court-appointed executor will manage your assets.You can avoid probate by setting up joint accounts, payable on death (POD) accounts, or living trusts.To close an account, your bank may require your survivors to provide your death certificate and other documents. It may be difficult to think about, but it’s important to plan for what…

Key Takeaways Foreclosure activity rose in the third quarter, led primarily by government-backed Federal Housing Administration loans that are generally used by first-time homebuyers.FHA loans are designed for low- and moderate-income homebuyers, who often are purchasing less expensive properties.Analysts said the data is another indication of a divergence between upper- and lower-income earners. Foreclosure activity is rising across the country, but not necessarily for everyone. Recent data shows that rising delinquencies and foreclosures in government-backed Federal Housing Administration loans are driving the increase. Analysts said this indicates a growing disparity between wealthy and lower-income homebuyers. Why This Matters to Homebuyers…

Key Takeaways The U.S. economy added 119,000 jobs in September, more than forecasters expected, while the unemployment rate rose to 4.4% from 4.3%.The report, which was delayed by last month’s government shutdown, presented a mixed picture of the job market’s health. More people got hired in September than forecasters expected, and more were unemployed too, according to a highly anticipated and long-delayed report on the labor market.The U.S. economy added 119,000 jobs in September, rebounding from a loss of 4,000 jobs in August, the Bureau of Labor Statistics said Thursday. That was more than double the 50,000 forecasters had expected,…

As holiday giving season kicks into high gear, donors face a charitable landscape that is significantly different from the one they navigated a year ago, following passage of the One Big Beautiful Bill (OBBB).What’s new? Making charitable contributions just got a little easier — but also a little harder. It’s a mixed bag, and donor education is critical, with some changes already in effect for the 2025 tax year, and others set to begin January 1.Generally, those who itemize and make charitable contributions might want to accelerate some donations to make them before the end of this year to maximize…

The Social Security retirement earnings test is a set of rules that determines how much of an individual’s Social Security will be temporarily withheld from their benefit check if they are younger than full retirement age and still earning income while receiving benefits.This article clarifies the nuances of the earnings test, its implications on benefit amounts and how to navigate it effectively.Earnings test fundamentalsThe retirement earnings test (RET or earnings test) applies to Social Security beneficiaries who: 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…

Once you find a bank account you like, you rarely switch to another. In fact, the average person keeps the same account for 17 years, Bankrate found.What causes this long-term loyalty? One reason is that switching bank accounts, especially checking accounts, can be a complicated process. You must update direct deposits and change every automatic bill payment you make. As a result, many people prefer not to go through the hassle of switching.But is this loyalty costing you opportunities to earn better returns? This is where the trend of “soft switching” comes in. From just $107.88 $24.99 for Kiplinger Personal…

When your gift list gets longer but your holiday gift budget stays the same, it’s time to get creative about shopping for everyone on your list. While rising prices make it feel impossible to get something everyone will love without overspending, there are plenty of budget-friendly gift ideas out there.One of the best-kept secrets for finding under-$20 gifts that will put a smile on people’s faces is Amazon Haul. The home of “crazy low” prices and deeply discounted finds, Amazon Haul is a place where everything you see costs $20 or less.Sure, you won’t find the newest Nintendo Switch for…

Stock futures pointed sharply higher Thursday, a day after AI darling Nvidia (NVDA) reported quarterly results above analysts’ lofty expectations.  Futures associated with the tech-heavy Nasdaq, benchmark S&P 500, and blue-chip Dow Jones Industrial Average were up a respective 1.4%, 1%, and 0.4%. Yesterday, the Dow and S&P 500 snapped four-session skids ahead of Nvidia’s earnings, while the Nasdaq ended higher for the first time this week. After the bell Wednesday, Nvidia’s fiscal 2026 third-quarter results blew past Wall Street expectations and the company also issued rosy revenue guidance for the current quarter, with CEO Jensen Huang saying sales of its AI Blackwell platform are…