For some years, various political and economic groups — typically aligned with Democrats — have pushed for laws and labor rules that would make it difficult for independent contractors to continue their businesses. Now Donald Trump has nominated a candidate for Secretary of Labor who has been a strong proponent of the reclassification efforts that would potentially undermine independent contractor status and interfere with their abilities to run their businesses and gainfully employ themselves. Legal pressures In various ways, those groups have promoted a framework from the 1930s called the ABC test. California, which incorporated the standard into a disastrous…

Thanksgiving is more than sitting down with family and friends, it is a time of reflection on blessings in our lives. At times, it takes a second chance at life to bring the greatest appreciation for so many things in life. Men like Irvin Mayfield know the feeling. After serving an 18-month federal prison sentence for fraud in 2022 he doubled down on his community efforts to be an example of what is possible when a second chance comes around. When Mayfield first performed at what was then the Orleans Parish Prison in 2004, Hurricane Katrina was soon to be…

A recent study highlighted in the Harvard Business Review examined the gap between retirement expectations and real-world applications. By observing how people transition from primary working years into the next life phase, it hoped to explore the keys to achieving a fulfilling retirement. Labeled the search for a “retirement without regrets,” it studied what might lead to a purpose-filled, happy retirement and what might not. Conducted by researchers affiliated with Harvard Business School and co-authored by Teresa M. Amabile, Lotte Bailyn, Marcy Crary, Douglas T. “Tim” Hall, and Kathy E. Kram, this decade-long research looked at two groups. The first…

If you’re headed out to take advantage of year-end new-vehicle clearance sales, or are just considering buying a new set of wheels in the coming weeks or months, it’s likely you’ll be offered any number of transaction add-ons before closing the deal. While experts advise shoppers decline most of them – like extended warranties, rustproofing and fabric protection – there is at least one that should be seriously considered, and that would be what’s known as “gap insurance.” With new-car prices averaging around $10,000 more than they were five years ago, and financing terms extending to as long as six,…

With the holiday shopping season in full swing, consumers are using Buy Now, Pay Later (BNPL) loans for everything from groceries and dining out to travel, technology items and home decor. CNBC’s Small Business Survey reported higher BNPL popularity among Black and Hispanic Americans with 12% and 13% respectively saying they use these platforms for holiday purchases, compared to only 5% of white Americans. Fast growing BNPL companies like Klarna and Affirm are expected to capitalize on this and set new records this season, driving $18.5 billion in online spend, up 11.4% from this time last year. The Breakdown You…

Learning how to budget effectively in your 20s is a critical skill that sets the foundation for lifelong financial stability. With student loans, rent, food and other lifestyle expenses, budgeting may seem intimidating, but it’s possible to create a workable financial plan. More than simply cutting costs, creating a budget for 20 year olds is about building a system that helps you save, invest and grow your wealth. By adopting smart financial strategies now, you can set yourself up for a brighter future. This article will guide you through practical tips to control spending, increase savings and plan for long-term…

The Free Application for Federal Student Aid (FAFSA) is the key that unlocks federal student aid – including grants and student loans. It’s also the primary tool that colleges and universities use to award need-based scholarships. The FAFSA is typically filled out by families in the fall of their senior year of high school, and then repeated each year of college. In fact, the FAFSA just opened for the 2025-2026 academic year. Given the importance of filling out the FAFSA, almost one-quarter of states have adopted rules requiring their graduating seniors to fill out the FAFSA. Here are the states…

According to Experian, the average American’s debt is $104,215 including credit cards, mortgages, auto loans, and student loans. If budgeting feels dreadful and boring, you’re not alone—but it doesn’t have to stay that way. A few simple shifts in how to budget better can turn it into a tool that empowers your financial goals. Here’s how to get a head start and take control this year: Schedule Your Budget Like A Meeting With Your CEO Time is your most valuable resource. Dedicate two hours per month to reviewing and adjusting your budget. Use this time to tackle small wins, like…

An Associated Press report dug into “buy now, pay later” programs and the problems they can cause. They can be particularly attractive to people with poor or no credit histories. There’s been press over the years arguing that the Gen Z demographic — those born between 1997 and 2021 — has been particularly enamored of the arrangements and that somehow it is putting them in debt more than any other generation. Except, they aren’t. Buy Now Pay Later Let’s start with BNPL programs. In theory, they can sound fine for someone without available credit, or who doesn’t want to use…

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. In this episode: Celebrate 2024’s Financial Turkeys as we spotlight the year’s biggest money blunders and share tips to avoid them yourself.Why are grocery prices so high in 2024? What are ghost jobs and how do they affect job seekers? Hosts Sean Pyles and Sara Rathner roast the year’s “Financial Turkeys” (pun intended), spotlighting the biggest money misfortunes of 2024 and offering listeners a chance to commiserate over shared financial frustrations. They share their own takes on this year’s financial flops and invite listeners to reflect on…