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☆ Series I bonds still 'attractive for longer-term investors' as annual rate falls to 4.3%, expert says
▼ + stars: | 2023-05-01 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Series I bonds will pay 4.3% annual interest through October, a drop from 6.89% in November amid falling inflation, the U.S. Department of the Treasury announced on Friday. There are two parts to I bond interest rates: a fixed rate that stays the same after purchase, and a variable rate, which changes every six months based on inflation. Starting May 1, the new variable rate is 3.38% and the fixed rate is 0.9%. While experts predicted the 3.38% variable rate, the fixed rate, which jumped to 0.9% from 0.4% in November, "definitely makes it attractive for long-term investors," said Ken Tumin, founder and editor of DepositAccounts.com. The 0.9% fixed rate is the highest since November 2007, when I bonds offered 1.2%, Tumin said, noting the new rate was a "pleasant surprise."

☆ The Federal Reserve is expected to hike rates one more time. What that means for you
▼ + stars: | 2023-05-01 | by ( Jessica Dickler | ) www.cnbc.com time to read: +4 min

"Yet another rate hike from the Fed means today's sky-high credit card interest rates will rise even further in the very near future," said Matt Schulz, chief credit analyst at LendingTree. Cardholders should expect their current cards' interest rates to rise in the next billing cycle or two, he said. Auto loan rates rose to more than 6.5%Even though auto loans are fixed, payments are getting bigger because the price for all cars is rising along with the interest rates on new loans. Federal student loans are already near 5%Wavebreakmedia | Istock | Getty ImagesFederal student loan rates are also fixed, so most borrowers aren't immediately affected by rate hikes. Interest rates for the upcoming school year will be based on an auction of 10-Year Treasury notes later this month.

☆ Jerry Springer, Host of Unapologetically Brash Talk Show, Dies at 79
▼ + stars: | 2023-04-27 | by ( Remy Tumin | ) www.nytimes.com time to read: 1 min

Jerry Springer, the brash talk show host who mediated tumultuous relationships and family feuds and who briefly served as mayor of Cincinnati, died on Thursday at his home in Chicago. Mr. Springer’s death, after a brief illness, was confirmed in a statement by Jene Galvin, a family friend and executive producer of Mr. Springer’s podcast. “The Jerry Springer Show” ran for nearly three decades, reaching its peak viewership in the 1990s. No matter what sort of drama had taken place in front of a studio audience and viewers tuning in from home, Mr. Springer ended each segment with a signature sign-off: “Take care of yourself, and each other.”A complete obituary will follow.

— The Montana House of Representatives took the extraordinary step of blocking the state’s only transgender lawmaker from the House floor for the remainder of the legislative session on Wednesday after an escalating standoff over her ability to speak in the House led to heated protests and arrests on Monday and the abrupt cancellation of Tuesday’s session. The barred lawmaker, Representative Zooey Zephyr, will still be allowed to cast votes during House proceedings for the remainder of session, which concludes on May 5, but must do so remotely. The move is the culmination of a weeklong battle between House leadership and Ms. Zephyr, who was prohibited from participating in deliberations on the House floor after she made impassioned comments during debate over a bill that would prohibit hormone treatments and surgical care for transgender minors. It was one of a half-dozen similar bills targeting transgender youth that the Legislature had considered in the last week alone. And it comes amid an avalanche of similar legislation in Republican-controlled legislatures across the country.

☆ Scottish Island for Sale, Amenities Not Included
▼ + stars: | 2023-04-23 | by ( Remy Tumin | ) www.nytimes.com time to read: 1 min

For sale: An uninhabited, 25-acre island with pristine views of the Scottish coastline. The catch: Reaching the island is challenging, and staying there for any length of time even more so. Barlocco Island was listed for sale on Thursday by the Scottish real estate firm Galbraith. It is only accessible by boat or, at low tide, by all-terrain vehicle or foot over a rock causeway. While there are no dwellings or buildings on the island, there is a pebble beach and a flood pond where rainwater could gather in extreme rainfall and provide water for livestock and wildlife.

☆ Fuel Tanker Explosion on Connecticut Bridge Kills at Least One Person
▼ + stars: | 2023-04-21 | by ( Remy Tumin | ) www.nytimes.com time to read: 1 min

Buildings below the Golden Star Memorial Bridge, a pair of steel truss bridges on the Thames River, were also on fire, the Connecticut State Police said on Twitter. “Injuries reported but extent is unknown at this time,” the police wrote, warning people to avoid the area. Officials closed the highway between exits 86 and 88, Trooper Muniz said, and the bridge was closed in both directions for part of the day. Amtrak reported some delays along the Northeast corridor, which has tracks near the accident. Several agencies, including the Coast Guard, are responding.

☆ A Mysterious Spiral in the Alaska Sky Had an Earthly Explanation
▼ + stars: | 2023-04-20 | by ( Remy Tumin | ) www.nytimes.com time to read: +1 min

At first, Ronnie Cole thought the bright light in the sky over southern Alaska was an airplane. “Then, it moved out of the clouds and the spiral was still there, and it was just getting bigger in the sky. That’s when I realized that it was something else.”The blue spiral made its way across the sky’s green and red hue of the northern lights for about three minutes before disappearing over the tree line near Trapper Creek, about 100 miles northwest of Anchorage. “I’ve spend about 1,000-plus hours out watching the night sky every winter,” Mr. Cole said. “I see a lot of weird things in the sky, but that was definitely the most unusual.”

☆ Republicans Call for Censure of Transgender Lawmaker Who Condemned Care Ban
▼ + stars: | 2023-04-20 | by ( Remy Tumin | ) www.nytimes.com time to read: +1 min

Representative Zooey Zephyr took to the floor of the Montana Legislature on Tuesday to make an impassioned plea for her colleagues to reject a bill that would ban transition care for transgender minors, saying that denying such care would be “tantamount to torture.”“This body should be ashamed,” Ms. Zephyr, a first-term Democrat and the Legislature’s first transgender member, said. “If you vote yes on this bill and yes on these amendments I hope the next time there’s an invocation, when you bow your heads in prayer, you see the blood on your hands.”The Montana Freedom Caucus, a group of conservative lawmakers, responded by accusing Ms. Zephyr in a letter of “attempting to shame the legislative body” by using “hateful rhetoric.” The letter, which misgendered Ms. Zephyr, called for her to be censured. On Thursday, however, the House adjourned without taking that step. It was unclear if they planned to take up the matter on Friday.

☆ Netflix Put His Photo in a True-Crime Film. Now, He’s Suing.
▼ + stars: | 2023-04-18 | by ( Remy Tumin | ) www.nytimes.com time to read: +1 min

In 2019, Taylor Hazlewood posted a picture of himself holding a friend’s hatchet on Instagram as a tribute to his favorite childhood book, “Hatchet,” a young-adult wilderness survival novel by Gary Paulsen. Mr. Hazlewood is suing Netflix for using his photo in “The Hatchet Wielding Hitchhiker,” a true-crime documentary about a hitchhiker turned convicted murderer. He is seeking $1 million in damages for defamation and the misappropriation of his likeness..Reached by phone on Tuesday, Mr. Hazlewood referred requests for comment to his lawyer, Angela Buchanan. In a statement, Ms. Buchanan said “there should have been no confusion” if Netflix had done “its homework.”“Because of the lack of due diligence,” she said, “Mr. Hazlewood has a constant fear regarding the impact the film will have on his personal relationships, his employment and his reputation in general.”

☆ Series I bond rate expected to fall to below 4% in May, experts say
▼ + stars: | 2023-04-12 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

But rates have been falling and the yield will decline again in May, experts say. Annual inflation rose by 5% in March, down from 6% in February, according to the U.S. Department of Labor. The annual rate may drop below 4%Based on inflation data from the past six months, Tumin says the variable portion of the I bond rate could drop to 3.38% in May. If the fixed rate remains at 0.4%, the new annual rate may drop to 3.79%, Tumin said. Of course, the combined annual yield is only an estimate until TreasuryDirect announces new rates in May.

☆ Most Americans are using tax refunds to boost savings or pay off debt, CNBC survey finds
▼ + stars: | 2023-04-11 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +2 min

mediaphotos | E+ | Getty ImagesMost Americans will use their tax refund to bolster their finances amid economic uncertainty, stock market volatility and lingering inflation. More than one-third of Americans are saving their tax refund this season and 44% have earmarked the funds to pay off debt or bills, according to the CNBC Your Money Financial Confidence Survey, conducted in partnership with Momentive. A recent Bankrate survey also found that tax refunds are important to most Americans' financial situation, and that paying off debt and boosting savings are top priorities this year, which is similar to past findings. Some 45% of Americans expect to receive or have already received a tax refund this season, according to the CNBC survey. "So if you have credit card debt, putting some of this refund money towards that debt is a really good choice."

☆ Finally! Savings Rates Could Soon Beat Inflation
▼ + stars: | 2023-02-23 | by ( ) www.wsj.com time to read: +6 min

Why savings rates could rise in 2023Fortunately, many experts predict the situation will reverse, with inflation on a downward trend even as the Fed continues nudging up interest rates. Since the most generous banks have increased their rates in tandem with the Fed, they would likely increase savings rates as well. Bottenfield doesn’t see savings account interest rates surpassing the rate of inflation before 2024. “The difference between an online savings account and the average brick and mortar account is huge right now,” says Tumin. If you think interest rates will fall, you can lock in mid-4% rates long-term with a five-year CD.

☆ The Magic of Your First Car
▼ + stars: | 2023-02-09 | by ( Adali Schell | Remy Tumin | ) www.nytimes.com time to read: +1 min

The ability to get behind the wheel of a car for the first time and go anywhere is a distinct American rite of passage. For many young people, their first car grants them a freedom to explore their city on an intimate level, with their windows down and music blasting – and away from the prying eyes of parents. The photographer Adali Schell, 21, grew up in Los Angeles and spent last summer documenting the members of his creative community in their cars. Finding a place to belong “feels so scarce” in L.A., Adali said. But in the confines of an old Mercedes Benz (now powered by vegetable oil), a former taxi cab, a beat-up Volvo and a “mom” car, this group of artists and students found “a stronger sense of self and sense of security.”

☆ When it makes sense to buy extra paper Series I bonds with your tax refund, according to experts
▼ + stars: | 2023-02-06 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

Jetcityimage | Istock | Getty ImagesIf you're trying to max out the yearly purchase limit for Series I bonds, your tax refund offers an opportunity to buy even more. While the annual purchase limit is generally $10,000 per person for electronic I bonds, you can buy another $5,000 in paper I bonds with your tax refund. Buying paper I bonds with your tax refund may make sense if you're eager to purchase as much as possible, said Ken Tumin, senior industry analyst at LendingTree and founder of DepositAccounts.com, a website that tracks I bonds, among other assets. Downsides of paper I bondsKeil said it's also important to consider the downsides of purchasing paper I bonds tied to your tax return. What's more, paper I bonds must be converted to electronic form before redemption.

☆ Savers poised for 'biggest win' in 2023 as inflation falls. Where to put your cash now
▼ + stars: | 2023-02-06 | by ( Lorie Konish | ) www.cnbc.com time to read: +5 min

Xavier Lorenzo | Moment | Getty ImagesAs interest rates go up, 2023 is shaping up to be a good time for savers who stand to earn more money on their cash. As the unemployment rate hit a 53-year low in the latest jobs report, the interest rate increases are expected to keep coming. Online savings accounts tend to pay the highest rates, with rates like 4% or 4.5% becoming more common. Series I bonds have 'become a better deal'Series I bonds are accrual type savings bonds tied to inflation that are issued by the government. If you cash in the I bond in the first five years, you will lose three months' interest, McBride said.

☆ Where to keep your cash amid high inflation and rising interest rates
▼ + stars: | 2023-01-04 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Investors have many options when saving for short-term goals, and those choices have become more complicated amid high inflation and rising interest rates. While there have been signs of slowing inflation, the Federal Reserve is expecting higher interest rates to continue. More from Personal Finance:Strategies that can help you dig out of holiday debtWhy your savings account interest may be behind the FedExperts say it's time to boost 401(k) contributions for 2023Although the Fed's federal funds rate has reached the highest level in 15 years, savings account interest rates haven't matched these hikes, Tumin explained. As of Jan. 4, online high-yield savings accounts were paying an average of 3.48%, according to DepositAccounts, with some smaller banks reaching 4%. Still, if you're keeping money in a savings account, Tumin said it's better to stick with established banks.

☆ Demand for Series I bonds crashes TreasuryDirect site ahead of key deadline as investors try to secure 9.62% rate
▼ + stars: | 2022-10-28 | by ( Greg Iacurci | ) www.cnbc.com time to read: +6 min

Shapecharge | E+ | Getty ImagesInvestors crashed the Treasury Department website for Series I bonds on Friday as they clamored to lock in a record-high interest rate before a key deadline. Investors must buy I bonds and receive a confirmation email by Oct. 28 to lock in the 9.62% rate, according to TreasuryDirect. What a TreasuryDirect outage means for investorsAn outage on TreasuryDirect.gov — where investors purchase I bonds — may mean they're unable to complete an I bond purchase by Friday's deadline to secure the 9.62% rate. The Treasury Department is not planning to extend the deadline, a Treasury Department spokesperson said Friday. The site continues to "see customers successfully create accounts and purchase bonds at record levels," the spokesperson added.

☆ How to get the 'best of both worlds' for Series I bond interest rates before November
▼ + stars: | 2022-10-18 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

RyanJLane | E+ | Getty ImagesAfter a difficult year for the stock market, investors have poured money into Series I bonds, a nearly risk-free and inflation-protected asset that's paying a record 9.62% annual interest rate through October. While I bond rates shift twice yearly based on inflation, you can still lock in 9.62% annual interest for six months — as long as you complete the purchase by Oct. 28. You can estimate I bond rates for one yearThere are two parts to I bond rates: a fixed rate, which stays the same after purchase, and a variable rate, which shifts twice per year based on inflation. It's nice to know what interest rates you will get when you're committing to a 12-month lockup. "The biggest downside is you are locked in for 12 months," Keil said.

☆ Series I bond interest expected to fall to roughly 6.48% in November. But that's still a 'really good rate,' experts say
▼ + stars: | 2022-10-14 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +1 min

Morsa Images | E+ | Getty ImagesFixed rate for I bonds will 'most likely be zero'I bond rates have two parts, a fixed rate, which remains the same after purchase, and a variable rate, which changes every six months based on inflation. However, there's no set formula for the fixed rate, which is currently 0%, according to David Enna, founder of Tipswatch.com, a website that tracks I bond rates. While he predicts a 50/50 chance of the fixed rate changing, he said many experts believe it won't be necessary due to existing high demand for I bonds. "If we get to 0.3% or 0.5% [for the fixed rate], it will be somewhat a surprise," Enna said. Although interest rates are climbing, most banks still aren't paying more than 4% for a one-year CD, he said.

☆ Savings rates climb to levels not seen since 2009. Here's how to get the best return on your money
▼ + stars: | 2022-09-26 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

NBC | Getty ImagesOnline savings accountsThe September rate hike is already sending some online savings accounts higher. Notably, that interest rate growth is concentrated in online accounts, while savings at brick-and-mortar banks have not moved much at all. Credit unions, which also offer savings accounts, have also been more aggressive in keeping pace with the central bank's rate hikes. Series I bonds currently offer a 9.62% interest rate, which experts acknowledge is hard to beat elsewhere. The money cannot be cashed out in the first year, and if you withdraw before five years you lose three months' interest.

☆ How Much Money Can You Make Chasing High-Yield Savings Rates?
▼ + stars: | 2022-06-07 | by ( ) www.wsj.com time to read: +6 min

Given how much sleep consumers are losing these days with record inflation and gas prices, chasing after a better deal by moving your money to a high-yield savings account seems like one easy solution. Additionally, savings interest rates can rise if the Federal Reserve holds off on purchasing U.S. Treasuries, and rising Fed interest rates can impact savings interest rates. Experts expect the rate environment for high-yield savings accounts to improve in the near future, or at least not worsen. And let’s take what the Federal Deposit Insurance Corp. listed as the average savings account interest rate in mid-May: 0.07%. If you do open a high-yield savings account, you may find yourself enjoying the better rate and saving more than in the past.

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