“In general, Thanksgiving is one of the cheapest holidays to host. The foods are so cheap — potatoes, squash, carrots, apples, turkey,” says Andrea Dekker, who publishes simple home organization and cooking tips on her eponymous website. Indeed, the American Farm Bureau Federation, an agricultural industry group that tracks food prices, reports that in 2024, the classic Thanksgiving meal for 10 costs just over $58. That’s a decrease of 5% from last year, but 19% higher than five years ago. In addition to selecting the right ingredients, the following strategies can also make it easier to host Thanksgiving on a…

Home equity lines of credit (HELOCs) have been having a moment, with balances skyrocketing to $387 billion between mid-2023 and 2024 as homeowners look for budget-friendly ways to cash in on their home equity. And while HELOCs can be a savvy way to fund home improvements or pay down high-interest debt, using them recklessly—like splurging on luxury vacations or risky investments—can leave you in a financial mess. With your house on the line, it’s important to understand the risks before turning your home into a personal ATM. Why HELOCs Can Be A Risky Loan Option A HELOC allows you to…

The banking and finance industry is evolving, and leading the charge are women. Women executives are breaking barriers, driving innovation, and inspiring others. Their advice on finances, career growth, and leadership offers valuable lessons for anyone at any stage. Here’s what some of the Most Powerful Women in Banking and Finance shared with me when it comes to money and career success. Holly O’Neill: Start Early and Take Calculated Risks Holly O’Neill, President of Retail Banking at Bank of America, highlights the importance of building financial habits early. “Start saving early, set a budget and plan, and don’t spend money…

While it’s well off its peak, manufacturing remains one of the largest sectors of the U.S. economy, contributing to about 10% of the country’s overall output. But global supply chain dynamics make it difficult to measure precisely which products qualify as “made in America,” according to the U.S. Commerce Department. That’s because much domestic manufacturing relies on foreign parts and materials that are imported into the United States for assembly. Those assembled consumer products may then be sold in the U.S. or exported to other countries. But some products are still produced entirely in the U.S. U.S. manufacturers source 69%…

Elizabeth Warren Backs 10% Cap on Credit Cards The incoming top Democrat on the Senate Banking Committee threw her support behind a 10% cap on credit card interest rates. Sen. Elizabeth Warren (D-Mass.) told reporters she saw an opportunity to work with President-elect Donald Trump to cap card rates. Trump promised on the campaign trail to do just that. “Bring it on,” Warren said. [Punchbowl News] Credit Crunch Crushes Dreams: Millions Face Loan Rejections, NY Fed Reports Credit is getting harder to come by, especially for auto loans, mortgages and those with low credit scores. Amid an environment where lenders…

Black Friday is fast approaching, and shoppers are gearing up. The National Retail Federation expects more than 183 million people to shop over the weekend spanning Thanksgiving to Cyber Monday this year. But fraudsters are preparing for Black Friday too, looking for opportunities to steal your money or personal information. Before you dive into holiday shopping, learn how to spot common scams and protect yourself. 1. Phony order and delivery notificationsFraudsters commonly send phishing emails and text messages impersonating delivery services or popular retailers like Amazon. These messages, which typically claim there’s an issue with processing or delivering the order,…

Most employee retirement plans are governed by the Employee Retirement Income Security Act (“ERISA”), which provides the legal construct and restrictions by which such plans are to be created and administered. Compliant ERISA plans are also awarded with favorable tax treatment under the Internal Revenue Code. Importantly, at least for us here, ERISA plans are typically protected from creditors by the so-called “anti-alienation” protection found at 29 U.S.C. § 1056(d)(1), which provides simply: “Each pension plan shall provide that benefits provided under the plan may not be assigned or alienated.” If a debtor lands in bankruptcy, this anti-alienation protection has…

Black Friday deals are everywhere right now, and many of the major streaming services will probably announce special promotions to entice new customers soon, too.If you’re thinking about “cutting the cord,” or switching from a traditional cable provider to a streaming service, this might be a good time to try it.“The deals that will be coming out will be attractive to new subscribers and most likely will be basic plans with ads,” Chad Gammon, an Iowa-based certified financial planner, said in an email interview. While some streaming services might also offer deals on plans without ads, Gammon, who owns Custom…

With home values on the rise, HELOCs have become a popular way for homeowners to tap into their growing equity. A report from CoreLogic shows that U.S. homeowners with mortgages—about 62% of all homes—have gained a total of $1.3 trillion in home equity since mid-2023. That’s an 8% increase in one year, bringing total homeowner equity to more than $17.6 trillion. These flexible credit lines, which come with lower interest rates than most loans, are seeing a surge in demand; HELOC borrowing limits have increased for 10 consecutive quarters, adding $9 billion in the latest round. Keep in mind, the…

In August the Justice Department started the Corporate Whistleblower Awards Pilot Program and it has already resulted in 200 people providing tips. Whistleblowing programs are an essential weapon in the combatting white collar crime where complex crimes are often difficult to discover without insider information. The program applies to crimes of financial institutions that goes beyond traditional banks to include cryptocurrency businesses as well as foreign criminal corporate acts and health care fraud schemes involving private insurance plans. The Justice Department’s whistleblower program applies to people who provide original, non-public and voluntary information of criminal conduct that leads to financial…