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News Articles: Your Money

Social Security's finances have improved slightly in the last year. But benefits are still facing an automatic cut in less than a decade unless Congress takes steps to prop up the program.

Tagged as: 

  • Economy

The clock is ticking to fix Social Security as retirees face automatic cut in 9 years

Social Security's finances have improved slightly in the last year. But the popular retirement program still faces big challenges including the threat of automatic benefit cuts in less than a decade.

May 08, 2024
|
By:
  • Scott Horsley

Tagged as: 

  • Your Money

The do's and don'ts of lending money

What do you do if a loved one asks to borrow a big sum of money from you? Experts weigh in on when it's OK to fork over the cash — and when you should probably say no.

May 08, 2024
|
By:
  • Andrew Limbong
BYD electric cars wait to be loaded onto a ship at a port in Yantai, China, on April 18. China has rapidly become a major auto exporter, but tariffs have kept cheap Chinese EVs out of the U.S. market — so far.

Tagged as: 

  • Business

China makes cheap electric vehicles. Why can't American shoppers buy them?

American drivers want cheap EVs. Chinese automakers are building them. But you can't buy them in the U.S., thanks to tariffs in the name of U.S. jobs and national security. Two car shoppers weigh in.

May 06, 2024
|
By:
  • Camila Domonoske
Iowa recently became the fourth Republican-led state to ban spending public money on basic income programs that do not have a work requirement.

Tagged as: 

  • National

After a boom in cash aid to tackle poverty, some states are now banning it

Four states so far have passed laws prohibiting the use of public money for no-strings cash aid. Advocates for basic income say the backlash is being fueled by a conservative think tank.

May 03, 2024
|
By:
  • Jennifer Ludden
Rhaina Cohen and her husband live in a row house with another couple and their two children in Washington, D.C. Cohen says they wanted to share a home with people who they were excited to live with — and who they could depend on. From left to right: Cohen, her husband, her housemate's child and her housemate.

Tagged as: 

  • Arts & Life

What is 'communal living' and is it right for me?

People who've lived in co-ops, communes, group houses and 'intentional communities' share four questions you should ask yourself before taking the leap.

May 01, 2024
|
By:
  • Sam Leeds
The medical device maker Philips has agreed to a $1.1 billion settlement to address claims brought by thousands of people with sleep apnea who say they were injured by the company's CPAP machines.

Tagged as: 

  • Your Money

What consumers should know as Philips agrees to $1.1 billion CPAP settlement

Under a related deal, users who return devices by Aug. 9 can get an extra $100. As part of the recall, the company is offering repairs, replacements or refunds of the machines' cost.

April 29, 2024
|
By:
  • Bill Chappell
Travelers and their luggage in a terminal at Los Angeles International Airport in August 2023.

Tagged as: 

  • National

Airlines are ordered to give full refunds instead of vouchers and to stop hiding fees

In an effort to crack down on airlines that charge passengers steep fees to check bags and change flights, the Biden administration announced new regulations aimed at expanding consumer protections.

April 24, 2024
|
By:
  • Joel Rose
Some baby boomers would like to downsize from their large homes, but say it doesn't make financial sense. Single-family homes in Dumfries, Va., are seen here last year.

Tagged as: 

  • Economy

Many baby boomers own homes that are too big. Can they be enticed to sell them?

Lots of older Americans say they'd love to downsize, but it doesn't make financial sense. The housing roadblock has left some would-be buyers stuck. We asked experts what policies could change that.

April 20, 2024
|
By:
  • Laurel Wamsley
Kitboga, a popular "scam baiter" who hides behind characters to waste the time of scammers, has a combined Twitch and YouTube following of more than million subscribers. His aviator sunglasses — a signature look — recall a comically disguised CIA agent.

Tagged as: 

  • Technology

To make sure grandmas like his don't get conned, he scams the scammers

Livestreamers who bait scammers find creative ways to waste their time. This makes for entertaining viewing. But as scams spike, one streamer, Kitboga, wants to protect as many victims as possible.

April 15, 2024
|
By:
  • Emma Bowman
The U.S. market for domestic mail delivery is by far the largest in the world, and a recent report found its prices are very low compared to other developed countries. The U.S. Postal Service said this week that it wants to raise rates in July.

Tagged as: 

  • Your Money

The Forever Stamp is forever rising in price. How does the U.S. cost compare globally?

U.S. stamps are heading for their sixth price hike since 2021. In raw numbers, only four countries in a recent study of 31 developed nations had cheaper stamps than the U.S.

April 13, 2024
|
By:
  • Bill Chappell
COVINGTON, KY - APRIL 8: Kathleen Malone works on tax returns at the Cincinnati Internal Revenue Service Center April 8, 2005 in Covington, Kentucky. The tax filing deadline is a week away.

Tagged as: 

  • Your Money

TikTok is filled with tax advice. Is any of it worth listening to?

TikTok, and other apps like it, are filled with financial advice. Some of it is reliable, some... less so.

There are videos about running a business, having a side hustle, generating passive income. And also, there are a lot of tips and tricks, many of them questionable, about saving on your taxes.

On this show, we run some of the greatest hits of TikTok tax advice by some bonafide tax experts. We'll talk about whether you can use gambling losses to reduce your tax bill, whether your pets qualify you for tax deductions – and we'll fact check the claim that all rich people own expensive Mercedes G-Wagons... for tax purposes.

Along the way, we'll drill down on the concepts like taxable income and the standard deduction. And we'll ask why so many videos on TikTok suggest that you (fraudulently) categorize personal expenses as business expenses. Sometimes with a literal wink and a nod.

This episode was hosted by Nick Fountain. It was produced by Emma Peaslee with help from Willa Rubin, who also fact-checked this episode. It was edited by Molly Messick and engineered by Cena Loffredo. Alex Goldmark is Planet Money's Executive Producer.

Help support Planet Money and get bonus episodes by subscribing to Planet Money+
in Apple Podcasts or at plus.npr.org/planetmoney.

April 12, 2024
|
By:
  • Nick Fountain,
  • Molly Messick,
  • and 1 more
About a third of all taxpayers are expected to file their returns in the last two weeks before the April 15th deadline.

Tagged as: 

  • Economy

Five things to know as the tax deadline looms

April 15th, the deadline to file your income taxes, is just around the corner. Filings so far this year are on track with last year's, while the average refund is slightly larger.

April 11, 2024
|
By:
  • Scott Horsley
U.S. Education Secretary Miguel Cardona participates in an event at Dartmouth College in January.

Tagged as: 

  • Education

Biden seeks student debt relief for millions

The sweeping new proposals, if enacted, could ease student loan debt for millions of borrowers.

April 10, 2024
|
By:
  • Sequoia Carrillo
The Apple Pay app on an iPhone in New York. Consumers tend to spend about 10% more when they adopt mobile contactless payment methods, a researcher says.

Tagged as: 

  • Your Money

Using your phone to pay is convenient, but it can also mean you spend more

Consumers tend to spend about 10% more when they adopt mobile contactless payment methods, according to research from Assistant Professor Yuqian Xu at UNC-Chapel Hill.

April 07, 2024
|
By:
  • Matthew Schuerman and
  • Ayesha Rascoe

Tagged as: 

  • Education

This year, colleges must choose between fast financial aid offers, or accurate ones

Colleges don't yet trust the FAFSA data the U.S. Education Department is sending them, but there's pressure to get aid offers out to students as soon as possible.

April 05, 2024
|
By:
  • Sequoia Carrillo
  • Load More

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