Learn how to avoid holiday shopping pitfalls and quickly improve your credit, with ideas for restoring your credit.How can you avoid overspending during the holidays? How can you can help your credit score recover after missed payments? Can rental payments be reflected on your credit reports? Hosts Sean Pyles and Sara Rathner discuss optimizing your financial habits during the holiday season and overcoming credit mishaps that could show up on your credit report. They begin with a discussion of impulsive holiday shopping, providing tips for intentional spending, minimizing waste, and prioritizing experiential gifts over material items. Then, NerdWallet credit writer…

Ascension, a healthcare company that operates 140 hospitals and 40 senior care facilities throughout the country, disclosed on December 19 that it had suffered a data breach going back to May of 2024 affecting 5,599,699 of its patients and employees. Ascension was hacked through a social engineering email from a ransomware gang that lured an employee of Ascension to download malware that enabled the hacker to steal Ascension’s data. According to Ascension, “Although the data involved varies and cannot be confirmed for each individual, it may include medical information (such as medical record number, date of service, types of lab…

The Biden administration walked away from two mass student loan forgiveness plans on Friday, marking an anticlimactic end to the efforts to enact broad student debt relief. Officials withdrew proposed regulations that would have allowed the initiatives to be implemented. The two loan forgiveness plans would have created pathways to student debt relief for broad swaths of student loan borrowers, including those who have experienced runaway balance growth due to interest accrual, and people who are dealing with significant personal or financial hardships. Had the programs been enacted, they could have benefited more than 30 million borrowers. But given ongoing…

Sometimes it’s hard to look at statistics without having the air knocked out of you, like a hard punch to the gut. Just over a week ago, Zumper released it’s 2024 Annual Rent Report. One statement in it represented a large portion of the country getting winded through high average consumer rent: “In 2024, renters spent an average of 42% of their pre-tax income on housing, up from 35% in 2021, even though a majority believed rent should be capped at 30% of income,” Zumper wrote. It’s astounding and disturbing. Never before has the mismatch between what people make and…

Charbel S. Joseph was a construction contractor who decided for whatever reasons not to file or pay his federal income taxes due. On September 1, 2023, Joseph filed a petition in the U.S. Bankruptcy Court for the Eastern District of Kentucky seeking Chapter 7 relief. In later filings, Joseph would claim that he had only $21,095 in assets against more than $10 million in debts. Curious as to the wide discrepancy between the debtor’s assets and liabilities, the U.S. Trustee began to conduct discovery about Joseph’s assets and business activities. The documents that Joseph produced were scanty and seemed to…

If a picture can be worth a thousand words, here are three thousand worth on where the economy stands now. First, inflation using the Personal Consumption Expenditures measure, which is the Federal Reserve’s preferred measure when making decisions: Next, economic growth via gross national product, or GDP: Finally, the unemployment rate: Put succinctly: Inflation is down, the economy is growing, and unemployment is low. This seems like the so-called soft landing, where the economy comes under control without a recession. All’s well for the end of the year. Except that may not be the case given the most recent economic…

The amount of money that federal prisoners have in their commissary accounts came under scrutiny when it was reported that some prisoners, namely Larry Nasser and R. Kelly, had tens of thousands of dollars in their account. The money, many believed, should not be used on improving the comforts of prison when there are victims to be compensated. As a result, the Federal Bureau of Prisons (BOP) and Department of Justice proposed supplemental notice of a proposed rule in how it handles the Inmate Financial Responsibility Program (IFRP). The IFRP has been around since 1987 and was meant to encourage…

Retirement savings are a cornerstone of financial security. Whether you’re just starting out or looking to optimize your existing savings strategy, focusing on practical steps to increase contributions can make a substantial difference in your long-term financial well-being. This guide provides targeted strategies to help you increase your retirement savings for the year ahead. 1. Assess Contribution Limits Retirement savings accounts have specific contribution limits that are adjusted annually to account for inflation. For 2025, the IRS contribution limit for 401(k), 403(b), governmental 457 plans, and the Thrift Savings Plan has increased to $23,500 for individuals under 50. Those aged…

Einstein never said that the definition of insanity was doing the same thing repeatedly and expecting different results. The site Quote Investigator found that it seems associated with 12-step programs. Doing the same thing in a quest to improve could even be akin to the adage, “Practice makes perfect.” At least, sometimes it does. Other times, it can be whacky indeed. The race to a government closure on Friday is an example. By USA Today’s count, there have been 21 shutdowns since 1976. Some lasted for a few hours; others, days or weeks. The longest-lasting one — 35 days at…

Gas tax rates are set to increase in five states in the new year. Once they do, drivers in Florida, Georgia, Minnesota, New Jersey and Utah can expect to pay slightly more for each gallon of gas.The increases in each state are small, ranging from less than 1 cent to 3.3 cents per gallon. But state taxes can add a chunk of change to the overall price of fuel. When the changes take effect on Jan. 1, the total state gas tax rates for those spots will be:New Jersey: 45 cents per gallon.Florida: 39.4 cents per gallon.Utah: 39.2 cents per…