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Joined: July 9, 2024
Articles: 975

Credit & Debt

Mortgage Rates Surge Past 7% Amid U.S. Debt Concerns and Downgrade

As of late May 2025, mortgage rates in the U.S. have climbed above 7% for 30-year fixed home loans. This increase, one of the largest in recent years, has made buying homes less affordable for many Americans. The spike in mortgage rates has mostly come about due to higher yields on U.S. Treasury bonds, which generally set the stage for mortgage costs. Investors have become less confident in U.S. Treasury bonds because the government owes a lot of debt and Moody's, a well-known credit rating agency, recently lowered the credit rating of the United States. Additionally, recent economic decisions made by President Trump and ongoing worries about the country's increasing debt levels have made the economic situation more uncertain, keeping mortgage rates high.

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May 26, 2025

Protection

Unmasking UPI Fraud: Battling Phone Spoofing and Digital Payment Scams

In recent years, phone number spoofing and digital payment scams have become major problems for financial consumers. Scammers often disguise their true phone numbers to trick people into believing they are communicating with someone trustworthy. This tactic helps them convince victims to share private details or make unauthorized transactions. At the same time, payment platforms using Unified Payments Interface (UPI) have become popular targets for fraudsters. To help fight against these scams, the National Payments Corporation of India has introduced rules that require UPI payment apps to clearly show only the genuine details of senders, making it harder for scammers to hide behind fake identities. Despite improvements, striking the right balance between security and convenience remains an ongoing challenge.

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May 26, 2025

Saving

Is Your Checking Account Costing You Lost Earnings?

Holding too much money in your checking account can mean missing opportunities to grow your finances, especially in uncertain financial times. Experts recommend having just enough in checking to cover about one to two months of essential expenses, plus a modest cushion for unexpected costs. For example, if your monthly spending averages $3,000, keeping somewhere between $3,000 and $6,500 in checking is likely enough—though people with incomes that fluctuate, like self-employed individuals, might benefit from keeping a bit more. With mortgage interest rates close to 7% and climbing because of rising U.S. budget deficits, it's more important than ever to put extra money into investments or savings accounts where you can earn higher returns.

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May 26, 2025

Earning

The Gig Boom 2025: AI-Powered Side Hustles Fueling Financial Flexibility

In 2025, the gig economy continues to expand rapidly, involving over 70 million Americans and generating more than $1 trillion each year. As economic uncertainty increases due to rising mortgage rates and worries about the national budget, many individuals are turning to side hustles to gain extra income and greater career flexibility. New platforms, especially those targeting niche industries, are expected to develop, making it easier for people to earn money from specific talents or skills. In addition, artificial intelligence (AI) tools are becoming popular among side hustlers, helping them save time by automating routine tasks and improving their marketing efforts. Overall, side hustles are providing people with valuable opportunities to build financial stability and navigate shifting economic conditions.

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May 26, 2025

Taxes & Tools

Tax Time Bomb: How TCJA’s Expiration Could Impact Your Retirement

Perhaps most concerning for retirees and those nearing retirement is that the expiration of the Tax Cuts and Jobs Act (TCJA) at the end of 2025 will cause taxes to rise significantly. This means that current tax brackets, which range between 10% to 37%, will shift back to the former, higher rates of up to 39.6%. Middle-income retirees will feel this impact most, as the 12% tax bracket increases to 15% and the 22% bracket jumps to 25%. Many retirees will need to prepare carefully, as paying higher taxes could mean adjusting retirement budgets or reevaluating retirement income strategies to make sure they can still comfortably meet their financial goals.

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May 26, 2025

Basics

Tariff Troubles: Americans Tighten Budgets Amid Recession Fears

Amid rising concerns about a potential recession, many Americans have begun to adjust their spending habits significantly in response to tariffs introduced under President Trump's administration. Recent surveys show that over half of American consumers have already scaled back their spending, with others planning to follow soon. This shift can be seen across a variety of everyday expenses like clothing, groceries, streaming services, and dining out. To stretch their dollars further, people are buying more store-brand products, hunting for discounts and coupons, and limiting unnecessary purchases. As these household budget changes become more common, businesses and the economy as a whole may feel the impact.

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May 25, 2025

Credit & Debt

Mortgage Rates Spike Amid ‘One Big Beautiful’ Budget Concerns

As of May 25, 2025, mortgage rates in the United States remain close to 7%, significantly increasing costs for homebuyers. These higher borrowing rates are due to growing concerns about government spending, especially with the introduction of a new Republican tax bill nicknamed the "One Big Beautiful Bill." Experts worry this legislation could sharply raise the federal deficit, leading investors to become cautious and push interest rates upward. Additionally, Moody's recent downgrade of the U.S. credit rating has further intensified worries about America's fiscal future, causing borrowing costs for homes, cars, and other loans to climb higher and making it more challenging for many American families to afford homeownership.

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May 25, 2025

Credit & Debt

Mortgage Rates Spike Amid Debt Doubts and Deficit Fears

Mortgage rates have climbed to nearly 7%, the highest they've reached in decades, partly due to government actions and rising debt concerns. A newly introduced Republican tax plan called "One Big Beautiful Bill" could greatly increase the U.S. deficit. This has caused global markets to worry, making investors nervous and pushing borrowing costs even higher. Moody's, a major credit rating company, recently downgraded the United States' credit rating because of these growing debt concerns. For everyday consumers, higher interest rates mean borrowing money—such as taking out a mortgage to buy a home or loans to pay off debt—is now more expensive. As a result, people need to carefully consider their financial decisions and look to save more, pay off existing loans, or adjust their buying plans in response.

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May 25, 2025

Earning

Gig Economy 2025: Freedom, Flexibility, and Financial Challenges

In 2025, the gig economy—freelance or contract-based work rather than permanent jobs—has become increasingly popular in the United States. Online platforms like Upwork, Fiverr, and Freelancer.com have made it easier than ever for people to find work in fields like graphic design, writing, financial consulting, and software development. Many Americans are choosing freelancing because it allows them flexible schedules, independence, and the chance to earn money from different sources, which can help them better manage tough economic times. However, freelancing also presents some difficulties, such as unpredictable incomes and the absence of benefits like insurance and retirement plans, requiring workers to carefully manage their finances to remain secure.

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May 25, 2025

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