BudgetADirect

Key takeaways Refinancing your mortgage can help you lower your rate, access your home’s equity or move to a fixed-rate loan. For most homeowners, the best time to refinance is when you qualify for a lower rate than you’re currently paying. If you want to refinance, calculate the break-even point…

Key takeaways Bank accounts with named beneficiaries (called “payable-on-death” or POD designations) transfer directly to those people — no court involvement, no waiting. The beneficiary just needs a death certificate and valid ID. Joint accounts with rights of survivorship automatically belong to the surviving owner, though FDIC coverage drops from…

Donald Trump and his administration have made a lot of big promises to improve affordability since taking office. Those promises have ramped up as consumers increasingly feel pinched by the U.S. economy, from sticky inflation and a stagnant job market to high interest rates. The macroeconomic data broadly suggests that…

In the journey of a relationship, finances play a pivotal role that can either strengthen a couple’s bond or lead to significant stress. While every partnership is unique, identifying financial red flags early can prevent them from escalating into a crisis. Whether you are newlyweds or have been together for…

Buying your first home can be thrilling, but it can also be stressful. After all, it’s likely one of the most impactful financial decisions you’ll make. Keeping yourself informed can make the experience of getting a mortgage much smoother — so before you get started, consider this list of major…

Illustration by Mae Sangaline/Bankrate Key takeaways There are many strategies to save for a down payment, including maximizing your savings, reducing everyday expenses and applying for down payment assistance. You likely don’t have to save 20% for a down payment on a home. Conventional mortgages require just 3% down, and…

When you’re in a committed relationship, you unavoidably merge at least some aspects of your financial lives. However, that doesn’t mean you have to combine all of your accounts. In fact, most Americans don’t. Most couples in committed relationships (62%) keep at least some financial accounts in their name only,…

When you sell stocks, exchange-traded funds (ETFs) or other equity investments for more than you paid, the profit is generally subject to capital gains tax. The capital gains tax on equity depends on how long you held the investment, your taxable income and whether the asset was sold in a…

Federal income tax applies to most people who earn income in the U.S., but the tax code includes limited exceptions. Whether someone is exempt from federal income tax depends on factors such as income level, filing status, age, disability status, religious affiliation and the type of income received. In some…

There are two common ways to think about a retirement budget: you can start with the lifestyle you want or the assets you have. By focusing on a lifestyle, you can identify your target retirement income and then build savings to support that goal. For example, using the 4% rule,…