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Although mortgage rates generally decline for higher-earning borrowers, Harvard University’s Joint Center for Housing Studies said Tuesday it found racial disparities in that trend that reflect a history of discrimination. The research, which relied on 2019 data from the Census Bureau’s American Housing Survey, shows Black homeowners who make $100,000 or more paid a median interest rate of 4.169% on their mortgages—higher than White homeowners across most income groups, including the lowest-earning....

An estimated 40% of parents who regularly pay for child care have at one point gone into debt over it, according to a September survey of 2,000 parents commissioned by Penny Hoarder, a personal finance website, and 20% wouldn’t be able to afford it once the federal government’s monthly child tax credit payments end this year. For perspective, 29% said child care costs had put them into debt in a 2018 survey, although take that comparison with a grain of salt, since the older survey polled Penny Hoarder readers, rather than a representative sample of the U....

Tax Credits and Deductions Tax credits are under-appreciated because they are misunderstood. A tax credit is a dollar-for-dollar reduction in your business tax bill because the credit is applied against your gross income. So if you spend $100 on an energy-efficiency project, your business tax is reduced by $100. Tax deductions are almost as good, but they come into play after your gross income is determined. In either case, making the most of all the tax deductions and tax credits you are eligible for is a great way to reduce your business taxes....

Here you’ll learn how to take the temperature of the market, and what to look for to determine whether it’s a buyer’s market or a seller’s market. What’s the Difference Between a Buyer’s and a Seller’s Real Estate Market? On the other hand, a seller’s market—or “hot” real estate market—is the best financial market in which to sell. Why? Because there are more buyers than houses available to buy. If your market is sizzling hot, you might be able to demand that buyers waive appraisals and inspections, within reason....

Yield to call is a calculation that determines possible yields if a bond can be called by the issuer, reducing the amount of money the investor receives because the bond is not held to maturity. Yield to Call To understand yield to call (or YTC), it’s necessary first to understand what a callable bond is. A callable bond is one that an issuer—usually a corporation or municipality—can redeem or “call away....

If you’re a job seeker who has unexpectedly become unemployed after spending 10 years or more with the same company, you might worry about how your long tenure will look on a resume. As usual, the answer is: it depends. Factors like career track, industry, and job requirements make a big difference in how your work history will be perceived. Can Staying With a Company Too Long Hurt Your Career?...

While it is technically possible to get exposure to cryptocurrency assets in a Roth IRA, its not really straightforward. Since cryptocurrency regulations are still evolving, a lot of brokerages do not allow for investing in cryptocurrencies directly through Roth IRAs. Here’s a look at how to buy cryptocurrency in your Roth IRA and several potential options to facilitate crypto investments in your retirement account. Can You Hold Crypto in a Roth IRA?...

Can 16-Year-Olds Get a Credit Card? Since the legal age to accept a credit card agreement is 18 in most states, you won’t be able to get your own credit card at age 16.Once you turn 18, you can get a credit card on your own, but there are some caveats. Credit card issuers will have to make sure you have enough income to make a credit card payment each month....

How Traders Use Technical Indicators Technical indicators usually have several settings that can be configured by the trader to modify the way the indicators are displayed. These data points typically correspond to a chart’s price bars, which are composed of an open, a high, a low, and a close. When traders use an indicator, they can choose which of these data points to apply in their calculations. Instead of using data points in that fashion, traders can choose a setting that takes the average of the open, high, low, and close....

If you’re unemployed, the stress can be compounded with concern about how long it’s going to take to find a new job, and how you’re going to pay the bills until you line up a new position. When you haven’t had to job search or interview in a while, that can add to your stress level as well. You might never consider job searching fun, but at least you might be able to turn it into a positive experience rather than a difficult one....

It’s important to make a good first impression, in order to increase your chances of landing an interview (and eventually, the job). Before you start writing a cover letter, take a look at administration and business cover letter examples to get an idea of how to construct a professional and effective letter that is going to sell your credentials to the hiring manager. What to Include Your Cover Letter Before you start writing your cover letter, review the job posting....

Maybe that’s why so few candidates write them. Only 42% of applicants say that they submit this crucial document when they apply for a job. However, most hiring managers still want to see cover letters from job applicants. Even if they didn’t, it would be a shame to miss out on the opportunity to sing your praises to decision-makers. Write a thoughtful, professional cover letter, and you’ll stand out from the competition before you’ve even spoken with the hiring team....

Current Ratio The current ratio measures whether or not your business has enough resources to pay its bills over the next 12 months. Current assets are a category of assets on the balance sheet that represents cash and assets that are expected to be converted into cash within one year. Current liabilities are a category of liabilities on the balance sheet that represent financial obligations that are expected to be settled within one year....

As a first step, gain clarity on your financial picture: Understand how much you owe and your current monthly payments for each of your accounts. Then, with a firm grasp on your debt details, you can work toward a strategy to become debt-free. Here’s a look at a few ways you can manage your debt with some help. What Is Debt Relief? Debt relief is a strategy meant to resolve or deal with a large amount of personal debt....

The Raise the Wage Act of 2021 would initially raise the $7.25 minimum wage to $9.50 an hour, with specific increases scheduled each year through 2025. After that, the wage would automatically increase annually at the same rate as the median wage for U.S. workers. The bill would also phase out subminimum wages for tipped workers. A $15 minimum wage is by no means a new idea, though proponents say the economic crisis triggered by the pandemic increases the urgency to get money into low-wage workers’ pockets....

Many people open Roths for the accounts’ unique tax advantages. Unlike a traditional IRA, a Roth IRA is funded with after-tax dollars. Those earnings then grow tax-free for distributions during your retirement years. Learn more about the requirements to contribute to a Roth IRA, including the cap on adjusted gross income and the maximum that can be invested annually, and about the sliding scale for how much can be invested based on adjusted gross income (AGI)....

It is easy for medical bills to add up to more than your coverage limits, especially if there is more than one person involved in the accident. Umbrella insurance should not take the place of your car, home, or business insurance, if applicable. Instead, you should consider it to be supplemental insurance that you add to other coverage. Do I Need Umbrella Insurance? Most people who are just starting out in a career do not need umbrella insurance....

Tax Agreements Between States Some states have reciprocity agreements in place that allow residents of other states to work there without having to file nonresident state tax returns. This is most common among neighboring states where crossing over the line to go to work is a common practice. You won’t have to file a return in the nonresident state if your resident state and the state in which you’re working have reciprocity....

Most home policies have exclusions that can prevent you from getting paid in a claim for situations that are listed among them. When you buy a home with a wine room or cellar, or you have amassed an investment-grade wine collection, it is important to look into whether your home insurance will provide adequate coverage. Most standard home insurance policies have limitations and exclusions or policy conditions that may not take into account special coverage needs for collections like wines and spirits or items of high value....

Opening a savings account requires documents and personal information for verification purposes. Learn which are needed to set up a savings account, how these requirements differ for minors, and steps on how to open a new savings account. What Documents Do You Need To Open a Savings Account? To open a savings account, you’ll need to verify your identity and provide a number of personal documents. Banks and other financial institutions typically require a U....