The Bureau of Labor Statistics tracks unemployment and jobs on a monthly basis. The current unemployment rate reveals more about the state of the overall economy and its impact on the average American’s finances. What the Current Unemployment Rate Means for You When businesses are hiring, wages rise and fewer people are unemployed. That’s seemingly good news for you and your wallet. But that might not necessarily be the case....

Yok46233042 / Getty Images The Foreign Corrupt Practices Act: Definition and Examples The Foreign Corrupt Practices Act (FCPA) was enacted by Congress to make it unlawful to make payments to foreign government officials to obtain or retain their business. It was designed to prevent corrupt practices, protect investors, and level the playing field for honest companies trying to win business based on quality and price rather than bribery. This law has been in place since 1977 as a result of investigations after the Watergate Scandal that revealed that U....

Definition and Examples of the Right of Redemption If your lender has foreclosed on your home or it’s been seized for unpaid taxes, there may be a period of time when you can pay the amount you owe and reclaim it. This redemption period is known as the right of redemption. Many states and the federal government offer a redemption period. In foreclosure cases, the redemption period is often determined by whether the foreclosure is judicial or non-judicial....

Definition and Examples of Zombie Debt A zombie debt is an old debt that should be “dead,” but has recently had new collections activity. For example, zombie debt may be revived with new communication from a collection agency or a new debt collection on your credit report. Often, debt is “dead” because it is time-barred, or no longer legally enforceable, meaning the statute of limitations has expired. The statute of limitations defines the amount of time debt collectors are able to sue you and use the courts to force you to pay a debt....

When a Repossession Can Occur In most states, creditors can repossess your vehicle once you’ve defaulted on the loan. What constitutes default varies from loan to loan, but it could be as soon as the account is 30 days past due. Review your contract to be certain when your loan is in default. In practical terms, repossession isn’t likely to occur so quickly. It’s in creditors’ best interests for you to bring the account current, so they are not likely to go to the extreme measure of repossessing a vehicle after only one missed payment....

The best time to get insurance is often when you’re young and healthy, but it can be helpful in other situations as well. We’ll review why buying early is best, and we’ll highlight several situations when life insurance might be important. Why You Should Get Life Insurance Life insurance can protect loved ones by providing a substantial amount of money upon your death. The death benefit is typically tax-free to beneficiaries, and those funds can pay off debt or cover everyday expenses for survivors....

Whether you need the adjustment to be short-term or permanent, here’s what you need to know about asking for a child support modification in court. When to Request a Child Support Modification Whether their parents were once married and have divorced, or if they were never married in the first place, minor children raised by separated parents are entitled to the same level of support they would have received in a two-parent household....

Free business checking accounts are easy to find, and they help you keep track of revenue and expenses as well as gain legitimacy. They might even help you reduce your personal liability. There are two ways your business can bank for free: We’ve listed several good options below. Review each bank’s account agreement carefully before you open an account. As you may know from your personal accounts, it’s not uncommon for banks to charge fees on checking accounts....

Retail sales in October had risen 8.3% over the past 12 months according to data from the Census Bureau released Wednesday, while the consumer price index, a popular measure of inflation, has risen 7.7% over the same period. The chart below shows the kinds of retail products where spending has roughly kept up with price increases, and where people have cut back. The fact that people have been able to keep on spending despite the sharp price increases for many products over the last year is a good sign for economic growth, but a worrisome one for the fight against inflation, economists said....

Sincerely, Maureen Dear Maureen, I applaud you for looking at your debt and taking steps to pay it off. It can seem like an overwhelming, or even impossible, task. But with some tools and tips, you can do it! Paying off debt is an especially relevant question during times when the Federal Reserve raises interest rates because borrowing money and having debt gets more expensive. The higher the Fed hikes rates, the more you’ll have to pay in interest when you take out a mortgage or car loan, and your credit card interest rate could go up, too....

All Individuals who are paid to prepare tax returns MUST have a Preparer Tax ID Number (PTIN), provided by the IRS. At this point, no exam is necessary to receive a PTIN, but in future paid tax preparers will be required to pass a qualifying exam and background check. If you pay someone to do your business and personal taxes, ask to see the person’s PTIN identifier. Reasons to Not Prepare Your Own Business Tax Returns You can certainly prepare your own business tax return....

What happens if a ball hits your car and damages the windshield or puts a dent in the body? Who pays for the repair? It can vary, depending on the situation and the people involved. Insurance can play a role in repairs if the out-of-pocket expense is too high. File a Claim on Car Insurance You can file a claim on your car insurance policy if you have comprehensive coverage listed at the time the vehicle is damaged....

But that wisdom is not always widely accepted among new grads. Financial writer Michael Schramm, himself a college student, has a real problem with that advice. His critique of that adage in Money Magazine provides great food for thought as one college class enters the job market laden with student debt, and another ponders how best to invest their time and effort over the next four years. Can Money Buy Happiness?...

Why Timely Cell Phone Payments Don’t Help Your Credit Score Cell phone providers usually don’t report regular payments to the credit bureaus, even though they check your credit score to decide whether to approve you for a phone contract or an installment plan for a new phone. No matter how many times you make your cell phone payment on time, it won’t help your credit score, since the cell phone company is not reporting your on-time payments to the credit bureaus....

Concerns for Parents of School-Age Children The best time to think about how you are going to handle both having a job and raising children is before you begin this phase of your life. Several things make it harder to work while your kids or a bit older and in school than when they are infants or toddlers. School Days Are Shorter Than Work Days: Since your child will spend seven hours a day in school, they won’t need a full-time sitter....

Second, it settles trade disputes. Most conflicts occur when one member accuses another of dumping. That’s when it exports goods at a lower price than it costs to produce it. The WTO staff investigates, and if a violation has occurred, the WTO will levy sanctions. Third, it manages ongoing negotiations for new trade agreements. The biggest would have been the Doha round in 2006. That would have eased trade among all members....

A November survey of supply and purchasing executives around the country showed orders went up, production rose, prices grew more slowly, backlogs expanded at a slightly slower pace, and hiring picked up a bit, the Institute for Supply Management said Wednesday. Other bits of new data are also encouraging: Fewer cargo ships are waiting to unload along the California coast and supplies like steel are easier to get. “We are not out of the woods yet by any means,” economists at Wells Fargo said in a commentary about the ISM report, but it was “the best report card for the manufacturing sector that we have seen in months—a welcome indication that the choke points in the supply chain are clearing, if only incrementally....

Before we get into the list of funds, let’s review the basics of ETFs to be sure that this investment type is appropriate for your investing needs. What Is an ETF? Even if you’ve never invested in ETFs, chances are good that you’ve heard of this versatile investment vehicle. But what exactly are ETFs? ETF is an acronym that stands for “exchange-traded fund.” They’re similar to mutual funds in that they are single securities that hold a basket of underlying securities....

If you’re a recent graduate who’s hesitant to jump into the “real” working world, consider doing something else with your time, like interning, volunteering, or traveling. Whatever you choose to do, consider how these roles may impact your future career options, if that’s a concern for you. Here are 15 options for what to do after college. There are opportunities both within the United States and internationally. Many companies look to hire eager, English-speaking guides due to the popularity of these activities among college students abroad....

26(f) Retirement Program Definition and Benefits A 26(f) retirement program is a type of retirement savings vehicle that takes advantage of rules set forth in U.S. Tax Code 26, Subtitle F. A recent application of a 26(f) retirement plan is for individuals to save and grow their money with an insurance product, such as a permanent insurance policy, where cash value or investment returns can accumulate over time on a tax-deferred basis Here are the primary rules and benefits to know about 26(f) retirement programs:...