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☆ That shiny new electric car you bought will cost more to insure — here's why
▼ + stars: | 2023-03-03 | by ( Alexa St. John | ) www.businessinsider.com time to read: +4 min

Car-buyers should understand the nuances of EV insurance and why it might cost more. Right now, new EVs cost more on average. The latest estimate from NerdWallet said the national average cost of car insurance stands at about $2,148 per year. Plus, there aren't as many shops with technicians trained to fix electric vehicles versus traditional vehicles." Where EV insurance and upfront costs look more than with a gas-powered car, drivers could see substantial fuel and maintenance costs-savings from going electric.

☆ What investors need to know about the tech rally
▼ + stars: | 2023-02-16 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat investors need to know about the tech rallyCNBC's Jon Fortt joins 'Squawk Box' to present two sides of the current tech rally, with coverage of A.I., Roblox, and NerdWallet.

☆ How to earn $65,000 in interest only every year in retirement
▼ + stars: | 2023-02-07 | by ( Emily Lorsch | Mackenzie Sigalos | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to earn $65,000 in interest only every year in retirementAn "interest-only" retirement plan can fund your retirement without draining your savings, but you will need to save a lot of money to make it possible. NerdWallet crunched the numbers, and we can tell you how much you need to save every month, broken down by age, to get $65,000 every year in an "interest-only" retirement. Check out this video to learn how much you will need in order to make it a reality.

Retirement usually entails replacing your annual salary with other income sources to keep up with your lifestyle. While Social Security may cover part of your budget, the rest of your money will most likely need to come from your savings and investments. NerdWallet crunched the numbers, and we can tell you how much you need to save now to get $65,000 every year in retirement, without taking a bite out of your principal. The numbers assume you will retire at age 65 and that you currently have no money in savings. For investing, we assume an annual 6% return when you are saving and a more conservative 3% rate during your "interest-only" retirement.

☆ Auto loan delinquencies are rising. Here's what to do if you're struggling with payments
▼ + stars: | 2023-02-04 | by ( Sarah O'Brien | ) www.cnbc.com time to read: +4 min

Fotostorm | E+ | Getty ImagesFor a rising share of car owners, monthly auto loan payments appear to be evolving into a problem. High prices, interest rates have led to bigger paymentsLoan delinquencies can harm your credit scoreWhile the auto loan delinquency rate is edging higher, the default rate is not, according to Cox. "If you're 30 days late, it impacts your credit score," said Brian Moody, executive editor of Kelley Blue Book. What to do if you're struggling with auto loan billsFor car owners who are pretty sure they're heading toward delinquency, it's important to try preventing the problem from snowballing. If you're struggling to keep up because you don't budget well, that's at least potentially fixable, experts say.

☆ Homebuyers, rejoice! You can afford to bid on a more expensive home now that mortgage rates have fallen below 6%
▼ + stars: | 2023-02-03 | by ( Robert Davis | ) www.businessinsider.com time to read: +4 min

The US housing market is warming back up because of declining mortgage rates. The average for 30-year mortgage rates have just dipped below 6% for the first time in months. Mortgage rates dipped below 6% on February 2, according to Mortgage Daily News, marking their lowest reading since September 2022. The declining mortgage rates have helped to bring buyers back to the market and bolster purchasing power. "We went from sellers controlling everything, to now being more of a neutral, and even almost a buyer's market."

☆ Workers are 'career cushioning' by creating a Plan B ahead of a looming recession and sweeping layoffs. Here's how it could protect you.
▼ + stars: | 2023-02-03 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

Some employees are "career cushioning" to protect themselves in case they are made redundant. "They're using 'career cushioning' as an insurance policy to set themselves up for success should they need to in the future." In professional life, "career cushioning" means workers will start to look for other jobs while still in their current roles. Cushioning not only gives employees professional security but can also soften the emotional blow of being laid off. For a lot of people, career cushioning is an exercise in building confidence, LinkedIn's Davies said.

☆ Finally ready to buy in 2023? These were the 10 least bubbly cities in the last two years and could be the safest bet for buyers this year as prices have remained stable.
▼ + stars: | 2023-01-26 | by ( Alcynna Lloyd | Robert Davis | ) www.businessinsider.com time to read: +2 min

Homebuyers appear to be gaining leverage in many real estate markets across the country. Approximately 28 million people say they are planning to buy a home in 2023. These 10 markets could be the safest places for regular buyers to find the home of their dreams. At least 28 million Americans say they plan on buying a home in 2023, according to NerdWallet's latest home buying survey. "In 2023, I think we'll start to see that real estate is local again."

☆ Southwest Airlines gave away as many as 50 billion airline miles after its holiday travel meltdown
▼ + stars: | 2023-01-26 | by ( Taylor Rains | ) www.businessinsider.com time to read: +3 min

Southwest Airlines offered 25,000 Rapid Rewards points to people affected by its holiday meltdown. The carrier sent points to an estimated 2 million people, putting the value at about $750 million. The low-cost carrier started sending out 25,000 Rapid Rewards points to qualifying customers in early January. Southwest sent the points to around two million customers, company CEO Bob Jordan told CNBC. The decision to offer free frequent flier points was an effort by Southwest to repair the damage created by its poor December performance.

☆ Homebuyers who are hoping for lower prices in 2023 are in for a 'rude awakening' when house hunting
▼ + stars: | 2023-01-24 | by ( Robert Davis | ) www.businessinsider.com time to read: +4 min

Some respondents said a souring economic climate could keep them from buying in 2023. One homebuyer told Insider that she is considering moving to a new state to afford a home. "I got sick of wasting money on rent and wanted to see what I could qualify for, but it has not been promising," Jenner told Insider. To Elizabeth Renter, a spokesperson for NerdWallet, these survey results show that many homebuyers may be in for a "rude awakening" in 2023. However, Renter said many homebuyers are still facing an uphill battle when it comes to buying a home.

Proptech customers, employees, and investors said they went from delighted to disillusioned. Proptech investors eager to capture these trends pumped $32 billion into the industry in 2021. As markets deteriorated, disillusionment set in among proptech customers, investors, and employees. Some customers say they were disappointed buying homes via proptech startupsReal-estate startups like Divvy Homes and Better launched under the auspices of helping customers afford quality homes. Investors in proptech firms are taking financial hitsYou don't need to ask proptech investors whether they're disappointed in the sector's performance — just look at share prices.

☆ Here are 3 money moves you should make at the start of the year, financial experts say
▼ + stars: | 2023-01-09 | by ( Annie Nova | ) www.cnbc.com time to read: +3 min

One of the revelations that will likely come in 2023 is that you're largely the same person as last year. Here are three of the most important actions to take now (and at the start of every year), financial experts say:1. Update your budget"The new year is a chance to reflect and start fresh," said Brian Bender, head of Schwab Retirement Plan Services. 2. Review your emergency savingsHaving a solid emergency savings account is one of the best ways to sleep soundly at night, said Cristina Guglielmetti, president of Future Perfect Planning in Brooklyn. watch nowShe recommends keeping the cash in a high-yield savings account.

So I dove headfirst into the credit card tag on TikTok and found the app's most popular "hacks" for credit card experts and novices. Here's a look at some of the best and worst credit card hacks on TikTok right now. Credit utilization ratio refers to the amount of debt you have in relation to your income (debt/income = credit utilization ratio). How it worksIf you search "credit card hack" on TikTok you're sure to find dozens of posts on the 15/3 method. "While it won't double your payment history, the 15/3 credit payment hack can actually help you reduce the reported amount on your credit card."

☆ Worried about the economy? These 5 successful companies were started during the Great Recession
▼ + stars: | 2022-12-29 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +5 min

Multiple high-profile startups that did just that after launching during the Great Recession, which ran from late-2007 to the summer of 2009. It's proof that even tough times aren't enough to prevent every great idea from growing into a flourishing business — especially if your idea can save other people money during tough times. Today, Groupon has more than 20 million active customers — a lot, but less than half of its 54 million customers in 2014. The app currently has more than 90 million users. In 2018, PayPal CEO Dan Schulman told CNBC that he's seen Venmo help people who grew up during the Great Recession become more thoughtful about taking care of their money.

☆ 'Career cushioning' is the latest workplace trend, seeing employees create a 'Plan B' ahead of a looming recession and job cuts
▼ + stars: | 2022-12-10 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

The new workplace trend refers to employees creating a professional "Plan B." The panic around job security has replaced a wave of "quiet quitting" with "career cushioning," a new workplace trend that has employees scrambling for a professional "Plan B." "They're using 'career cushioning' as an insurance policy to set themselves up for success should they need to in the future." Cushioning not only gives employees professional security but can also soften the emotional blow of being laid off. For a lot of people, career cushioning is an exercise in building confidence, LinkedIn's Davies said.

☆ These 7 states are the safest in the country for identity theft and fraud
▼ + stars: | 2022-12-09 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +4 min

Residents of Montana and Arkansas experience less identity theft — or other types of fraud — than the rest of the country. Montana residents were least vulnerable to identity theft and other types of fraud — recording the second-fewest identity theft complaints per capita in 2021, with just 106 complaints per 100,000 residents, according to the report's analysis of Federal Trade Commission data. By comparison, Rhode Island recorded the most identity theft complaints per capita, with 2,857 reports per 100,000 residents in 2021, according to FTC data. Here are the seven least vulnerable states for identity theft and fraud, based on NerdWallet's rankings:Montana Arkansas Indiana Maine Wyoming Oklahoma WashingtonCases of fraud, including identity theft, have risen in recent years, spurred partially by the Covid-19 pandemic and an uptick in data breaches flooding the black market with stolen personal information. Earlier this year, the FTC reported that consumers filed more than 5.7 million fraud reports in 2021, roughly a quarter of which were identity theft complaints.

☆ These 7 states face the highest risk of identify theft and fraud
▼ + stars: | 2022-12-08 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +2 min

Online fraud cases, including identity theft, have hit all-time highs in recent years — which means you're likely more at risk than ever of having your personal information targeted by hackers or other bad actors. Consumers filed more than 5.7 million fraud reports with the Federal Trade Commission last year, including nearly 1.4 million reports of identity theft. Online fraudsters can seek you out anywhere, but identity theft and fraud are more prevalent in some states than others. Here are the country's seven most vulnerable places for identity theft and fraud, according to the report:Washington D.C. Delaware Louisiana Rhode Island Colorado Pennsylvania GeorgiaWashington D.C. tops the list as the place with the most online fraud and identity theft. The rankings give the most weight to the number of identity theft and fraud complaints per capita, as well as the average losses for the victims of those complaints.

☆ Pilot pay is skyrocketing in the airline industry and it could keep airfare sky high
▼ + stars: | 2022-12-07 | by ( Taylor Rains | ) www.businessinsider.com time to read: +5 min

Pilots are seeing big pay bumps across the industry. Taylor Rains/InsiderDelta Air Lines and its pilot union have come to a preliminary agreement to increase wages by over 30%. Pilot pay raises could increase airfare as labor is the number one cost for airlines. But pilot pay raises may be a more effective way to attract and retain talent. Increased pay could mean higher faresAs more major carriers potentially solidify additional pay raises, it's possible the industry's already high airfare could increase even more as labor is the number one cost for airlines.

☆ How to tell if your colleagues are keeping information that could help you do your job better to themselves – and how to stop them
▼ + stars: | 2022-12-03 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +4 min

Introduce employees to new recruitsCampbell says there are ways businesses can help crack down on "quiet constraining." This makes the new member of staff less of a rival, and more of a team member," Campbell adds. He also suggests setting up one-on-one meetings or calls to help employees to get to know their colleagues better. Details posted can be shared in meetings, giving a boost to employees who that shared that information, Campbell says. Group projects can also help to fully utilize all employees' strengths and specialties, leading to better respect among colleagues and generally helping staff feel that they are more valued in the workplace.

Consumers are racking up credit card debt at a pace not seen in decades as inflation continues to pervade the U.S. economy. And while analysts say many U.S. consumers remain in good financial shape thanks mostly to low unemployment, the debt situation is growing dire. As the Federal Reserve has continued to lift interest rates to counter sky-high inflation, credit card rates have climbed to the highest levels ever measured. At just 2.1%, credit card delinquency rates remain below pre-pandemic levels. Still, said Raneri of TransUnion, as long as credit card companies are willing to continue to extend credit, credit scores will mostly remain unaffected.

☆ Student loan payments may not resume until August. Here's what borrowers need to know
▼ + stars: | 2022-11-26 | by ( Annie Nova | ) www.cnbc.com time to read: +8 min

With so much still up in the air, the Biden administration has pushed back the due date on student loan bills again. With previous extensions of the payment pause, the Education Department provided one date for when student loan bills would resume. Betsy Mayotte, president of The Institute of Student Loan Advisors, warned borrowers to first understand the federal protections they're giving up before they refinance. "Refinancing can generate a lower interest rate than federal student loan rates," Mayotte said. Could it make sense to still pay my student loans?

☆ Flights just before Christmas cost 39% more this year and it might only get more expensive
▼ + stars: | 2022-11-21 | by ( Brady Macdonald | ) www.businessinsider.com time to read: +3 min

The Friday before Christmas is shaping up to be one of the busiest travel days of the year. More than half of Americans plan to travel during the Thanksgiving or Christmas holiday seasons this year, according to Hopper. The most expensive days to travelWith Christmas falling on a weekend, the Friday before and the Monday after the holiday will be the most expensive days to fly, according to Hopper. With New Year's Eve also falling on a weekend, January 1 and 2 will be the most expensive days for return flights, according to Hopper. Expect to pay a premium for Christmas travel if you book in December with more connections and undesirable flight times, according to The Vacationer.

☆ When the bakery under my apartment caught fire, my renters insurance covered everything — including a new couch I couldn't have otherwise afforded
▼ + stars: | 2022-11-11 | by ( Hannah Van Sickle | Read More | Read Less | ) www.businessinsider.com time to read: +7 min

When I was in my 20s, my boyfriend's dad all but insisted we get renters insurance. In hindsight, renters insurance turned out to be a game-changer. Here's what's covered by renters insuranceSo what's included in renters insurance rates? Insider's Featured Renters Insurance Companies Lemonade Renters InsuranceProgressive Renters InsuranceAllstate Renters Insurance Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. ), my experience with renters insurance lingers as a positive one.

While it used to be impossible to charge your rent or mortgage payments to a credit card to earn points, that has changed in recent years. Several services let you pay your housing expenses with a credit card, and there's even a credit card designed for this very purpose. You can still earn points on your rent and mortgage payments by utilizing a processing service. Credit cards to use on rent and mortgage paymentsOnce you have a program picked out that lets you pay your rent or mortgage with a credit card, you'll want to choose a credit card that offers maximum rewards. Read our review Read Our Review A looong arrow, pointing rightThe Capital One Venture Rewards Credit Card and Capital One Venture X Rewards Credit Card earn 2x points on almost all spending, including rent and mortgage payments.

☆ A Walmart-backed fintech has been making changes to an online bank it acquired. Long-standing customers are getting fed up.
▼ + stars: | 2022-11-02 | by ( Carter Johnson | Ben Tobin | ) www.businessinsider.com time to read: +15 min

But once the Walmart-backed fintech venture Hazel acquired One and adopted its moniker in January, some of the features that drew Gastley to the bank disappeared. The page has become, in some cases, the first place customers turn to for information about product changes. (Like most neobanks, One has partnered with a sponsor bank, the Washington-based Coastal Community Bank, to provide financial services.) But then One customers received an email from the bank on May 12: It would be closing current credit lines, effective immediately. That's not the only change to Pockets for which Joseph, who has dozens of the virtual bank accounts, didn't receive a notification about, he said.

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