Matt Richardson

1 week ago | cbsnews.com | Angelica Leicht |Matt Richardson

If you have student loans, you've likely noticed just how much the rules around forgiveness have changed lately. From the restart of previously paused payments to sweeping overhauls of repayment plans, the past few years have completely reshaped the way borrowers approach student loan debt.

1 week ago | cbsnews.com | Melanie Lockert |Matt Richardson

The latest inflation reading showed a decline to 2.3%, heading closer to the Federal Reserve's 2% target. But that good news may be short-lived and ongoing economic uncertainty threatens to upend that downward trajectory. The Federal Reserve kept the federal funds rate paused as it believes the risks of higher unemployment and inflation have increased. With no rate cuts, the borrowing landscape continues to be costly with elevated interest rates.

1 week ago | cbsnews.com | Melanie Lockert |Matt Richardson

While the Federal Reserve continues to uphold the current federal funds rate, savers can maximize their returns in this high-rate environment. A certificate of deposit account (CD) comes with a fixed interest rate so you can lock in returns for a set term. In normal circumstances, long CD terms would provide the most competitive Annual Percentage Yield (APY). However, in these uncertain times, there's a notable switch, and short-term CD accounts are providing the highest interest rates.

1 week ago | cbsnews.com | Matt Richardson |Angelica Leicht

Borrowing from your home equity with a home equity loan comes with a series of both timeless and timely considerations. In the first category, homeowners will need to carefully calculate affordability as they could lose their home in a foreclosure should they fail to repay their loan. In the latter category, however, the intended use of the home equity funds and the interest rate at which that money is secured become more prevalent concerns.

1 week ago | cbsnews.com | Matt Richardson |Angelica Leicht

There are multiple ways to roll your credit card balances into one monthly payment. Whether it's via a debt consolidation loan secured independently, a debt consolidation program with a debt relief company, or a debt management program,card users have various options to explore. And in today's unique economic climate, in which inflation remains a concern and elevated interest rates remain frozen on a variety of borrowing products, it makes sense to explore these options sooner rather than later.