That’s according to a report released Tuesday by the Federal Deposit Insurance Corporation, an agency that regulates banks. The share of unbanked households—that is, households where no one has a checking or savings account at a bank or credit union—peaked at 8.2% in 2011 and has steadily improved since then. The 4.5%, however, still represents 5.9 million households. Households without bank accounts are forced to meet their financial needs by using expensive and exploitative alternatives to mainstream financial services, such as payday loans and check cashing businesses....

Mykhailo Lukashuk/Getty Images The refinancing index measured by the Mortgage Bankers Association (MBA) has fallen nine out of the last 10 weeks, thanks to mortgage rates that have been trending upwards over the same time period. It’s now at a level not seen since February of 2020. The data released Wednesday is a clear indication that homeowners keen to refinance this past winter when interest rates were at record lows have much less appetite for it now that rates have climbed, even though they’re still relatively cheap....

How the REPAYE Plan Works All federal income-driven repayment plans set your monthly student loan payment as a percentage of your discretionary income, which is your adjusted gross income (AGI) minus a certain percentage of the federal poverty guideline for your state and family size). That said, the REPAYE Plan has unique characteristics: Monthly payments: Under the REPAYE Plan, student loan costs are generally set to 10% of a borrower’s discretionary income, then divided by 12 to get the monthly payment....

How to Use a Resume Headline Like a resume profile or resume objective, the headline goes directly below your contact information. Because it’s located at the top of the page, your resume headline is likely the first thing a hiring manager sees when looking at your application. It’s a strong opportunity to make a quick case for your candidacy. Capitalize the Headline Keep in mind it’s called a headline for a reason: Your phrase can be pithy — in fact, it doesn’t even need to be a complete sentence....

Learn how return of premium life insurance works and what you can expect to pay for it. It may be helpful to know the pros and cons of this option as well as what other alternatives exist. What Is Return of Premium Life Insurance? Return of premium life insurance is a type of term life insurance, available either as a standalone product or as an add-on to your policy, also known as a rider....

You can use this resignation letter example when you resign from your current job after you accept a new job opportunity. New Job Opportunity Resignation Letter Sample This is a resignation letter example you can use after you’ve accepted a new job offer elsewhere. Download the resignation letter template (compatible with Google Docs and Word Online) or see below for more examples. September 1, 2018 Robert SmithDirector, Human ResourcesAcme Software123 Business Rd....

When you put saving money on autopilot, meeting your financial goals becomes even easier. You’ll no longer have to stop and think about saving funds or making a transfer. Instead, these things will happen automatically. To understand how to automate your savings, keep reading. You’ll find plenty of strategies and resources to help you save even more. Why You Should Automate Your Savings Process You can automate your savings by setting up systems that automatically deposit some of your money regularly, such as into a savings or investment account....

1. State Law May Limit the Security Deposit Amount How much you can collect from a tenant as a security deposit may be limited by the state where your rental property is located. Twenty-five states have no limit on the maximum amount you can collect, and 25 states, plus the District of Columbia, do set a maximum limit on how much you can collect. States With Limits Approximately half of U....

Before you open a joint account, consider the advantages and disadvantages, and whether opening a joint account is the right choice for you and your partner. Pros and Cons of a Joint Bank Account Pros Explained Provides financial transparency and accountability for couples: Joint bank accounts allow couples full access to each other’s money and financial habits. Couples will also be able to get a detailed look at the percentage of their income that goes toward each spending category....

It is important to buy a home for the right reasons. You should be sure you are ready and aren’t just buying because it’s you feel like it’s what you are “supposed” to do at this time in your life. Read on for five reasons you should not buy a home, and five reasons why it might be a good next move when trying to decide whether you should rent or buy....

Maybe you’re facing the end of your unemployment benefits, and this is the only job offer on the table. Perhaps your family is relocating because of your spouse’s work, and you need a job in a hurry. You now find yourself with a decision to make. Whether you take the job or hold out for a more promising opportunity, making a decision relatively quickly is a top priority. Only you know when it’s worth it to take a job you’re not crazy about, but these factors are something to consider....

But there are exceptions to that rule. It is possible to be pennywise and pound-foolish with a new versus used decision. Here are some observations to help guide your decision-making, inspired by financial author Dave Ramsey. Things to Buy New Computer software. There’s a very good chance that used software package you see online is pirated or otherwise “fell off a truck.” So, you’d be stealing from the true developer and be vulnerable to who-knows-what glitches in the ripped-off program....

Learn more about claiming based on your ex-spouse’s earnings and what else you need to know. Who Is Eligible? You must still be single to claim benefits based on your ex-spouse’s earnings record. Your ex-spouse’s current marital status has no impact. If you have remarried, you cannot claim your ex’s benefits. If you get married while you are receiving benefits, your eligibility will come to an end. But if this later marriage ends because of your spouse’s death, divorce, or annulment, you may be able to start or resume claiming benefits from your ex-spouse....

You’ll want to explore all your alternatives before making a final decision if you’re thinking of purchasing an immediate annuity. The best solution for retirement is usually to build a combination of income-producing investments by using an immediate annuity along with one or more of these choices. For an additional annual fee, the insurance company will guaranteed an amount you can withdraw for life at some point in the future....

You’ll need questions, although which you’ll ask can depend on the tone of the interview as well as the position of interviewer within the company and the type of company you’re applying to. There’s something in this for you, too. You’ll want to know what you’re getting into if you’re offered and accept the job. In this respect, you’re actually interviewing the company. Some Basic Guidelines Steer clear of questions that require no more than a “yes” or “no” answer....

However, what if you want to invest in a specific country or region? That’s when you want to consider a country-specific ETF. If you’re looking to hedge foreign risk in a certain country or would like to take advantage of growth in a specific region, then check out ETFs by country. There is a slew of country- and region-specific funds and some areas have more than others, which you’ll see on the list below....

The total number of homes for sale in the U.S. increased 3.9% in May from April, according to data released Wednesday by real estate website Zillow. It’s the first time in 10 months that inventory has gone up and just the fifth time in the last two years. House hunters navigating a frenzied real estate market will welcome the news. Low interest rates for mortgages and a desire for more space to work from home during the pandemic have sparked a rush on homes in the last year, sending prices soaring to record highs and the amount of available inventory plunging to a record low earlier this spring....

A long straddle options strategy involves buying call and put options on the same security with the same expiration dates, as well as the same strike price. An options strangle involves purchasing put and call options on the same security with the same expiration date but different strike prices. In addition to that, the key differences between the two strategies include the cost of implementing each and the price movement required before you begin to earn a profit....

You are also allowed to transfer money between different types of investments within the annuity without incurring a tax when, for example, the proceeds from selling shares in one mutual fund are used to buy shares in another fund. That sounds perfectly good to this point, but there are two tax-related problems with variable annuities that investors should be aware of. These problems could cause you or your heirs to pay more in taxes than you or they would have if you had used other investment alternatives....

These jobs are very diverse, in industries ranging from entertainment to transportation to healthcare. However, despite being in different industries, they have a number of similarities. These jobs typically pay by the hour. Many are service jobs that require tipping in order for the worker to make a decent salary. 25 of the Lowest Paying Jobs Here are the top 25 worst-paying jobs in America, according to an employment survey from the U....