Personal Finance Institute

Competition among peer-to-peer payment apps like Venmo, PayPal, Cash App and Zelle have been heating up for the past 10 years. The big banks tried to compete in the space when PayPal first came on the scene 25 years ago, but their business models failed. Now, Zelle, a seven-bank platform, is outpacing its rivals in average transaction value. But a rise in reported fraud activity recently got the attention of Congress, with allegations that the banks aren't supporting those affected customers.

Learn about your health insurance coverage options in Michigan - including ACA individual and family plans, small-group, short-term, Medicare and Medicaid.

hahaha this system sucks.a huge thanks to my Patreon for giving me a chance to do this way-too-big video: https://patreon.com/briandavidgilbertfilmed by Kare...

Dodgers star Clayton Kershaw is backing out of playing for the U.S. in the WBC, calling the situation "super disappointing." A source told ESPN's Alden Gonzalez an insurance issue led to Kershaw's turn of events.

In its fifth iteration, the Diary of Consumer Payment Choice data show that cash continues to be used extensively for small-value purchases - representing nearly half of all payments under $10 and 42 percent of payments less than $25. However, consumers’ use of other payment options, including debit and credit cards, is growing.

Credit card fraud is an unfortunate fact of life, with hundreds of thousands of Americans falling victim each year.1 This multibillion-dollar crime became even more common during the first year of the COVID-19 pandemic. It's expected to grow as people continue to rely on online shopping and social media, creating many opportunities for scammers to snag … Continued

Question of the Day for teachers and students: How long has the average U.S. adult used the same checking account?

“What is ONE thing about Personal Finance You think not enough people know?”

The Fed is expected to start hiking its target interest rate by spring, and consumers will see a corresponding rise in interest rates for credit cards.

Financial literacy and greater longevity awareness will help fix retirement planning gaps, according to a study that delved into multiple dimensions of undersaving.…Read More

U.S. consumer spending fell for a second straight month in December, putting the economy on a lower growth path heading into 2023, while inflation continued to subside, which could give the Federal Reserve room to further slow the pace of its interest rate hikes next week.

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You can invest HSA assets just like a 401(k) or IRA.

The Federal Reserve Board of Governors in Washington DC.

The BLS Data Finder allows for search across all BLS time series databases.

The markets in 2022 were characterized by a lot more pain than gain. That said, there were winners to be found, even during a turbulent year

Stadr: An online simulated stock trading platform. Use Stradr to learn about the stock market, risk free and for free. Education settings provided

Budget Like a Millionaire is a 4 part on-demand budgeting masterclass that teaches you how to create an intentional spending plan that actually works.

Investors have learned to ride out the highs and lows of the US stock market. In this analysis, we look at S&P 500 annual returns over the past 25 years.

The spending bill congressional leaders agreed to early this morning creates significant new incentives for retirement savings and broadly eases rules for withdrawing funds. Like...

This data note reviews our recent polling data that finds that Americans struggle to afford many aspects of health care, including disproportionate shares of uninsured adults, Black and Hispanic ad…

Most of the time, this column answers questions that are specific to Vermont: Why is there a phallic mushroom sculpture on Burlington's waterfront? Why is...

The findings could justify changes to driver insurance policies, the authors say.

In less than a decade, the share of Americans who go “cashless” in a typical week has increased by double digits.

Turn the tables and decline credit card protection insurance.

You might be surprised by one of the answers.  Answer: Engineers, accountants, management, attorneys and teachers Thanks to Jenny Trieu for providing the inspiration (and the resources) for this Question of the Day!  Question:  Do any of these five professions surprise you?   Given that only 31% of millionaires earn more than $100,000 a year, how do you think those earning less than $100,000 are able to build such wealth? A friend tells you they want to be a millionaire. What advice would you give them to achieve this goal?  Here are the ready-to-go slides for this Question of the Day that you can use in your classroom. Behind the numbers (Yahoo Finance): While these careers strongly correlate millionaire status to a higher education, that didn’t require attending a swank school.

Total household debt balances continued their upward climb in the third quarter of 2022 with an increase of $351 billion, the largest nominal quarterly increase since 2007. This rise was driven by a $282 billion increase in mortgage balances, according to the latest Quarterly Report on Household Debt & Credit from the New York Fed’s Center for Microeconomic Data. Mortgages, historically the largest form of household debt, now comprise 71 percent of outstanding household debt balances, up from 69 percent in the fourth quarter of 2019. An increase in credit card balances was also a boost to the total debt balances, with credit card balances up $38 billion from the previous quarter. On a year-over-year basis, this marked a 15 percent increase, the largest in more than twenty years. Here, we take a closer look at the variation in credit card trends for different demographics of borrowers using our Consumer Credit Panel (CCP), which is based on credit reports from Equifax.