Biden administration approves more than 16 million borrowers for student loan forgiveness

Even though millions have been approved for the president’s student loan forgiveness initiative, the plan remains in legal battle and the Supreme Court is set to take it on in February. This is what you need to know about paying off student loan debt quickly.

Fed raises rates 25 basis points in first meeting of 2023

The Federal Reserve announced a highly anticipated interest rate increase of 25 basis points at its February meeting. Here's what it means for your wallet.

Americans fear recession, but most believe their jobs are safe: Survey

Many Americans have a negative outlook on the economy, but say they didn't believe a downturn would impact their jobs, according to a new survey.

How economic policy can lessen the blow of a recession
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Dion Pouncil, chief investment officer and principal at Pouncil Capital, talks about the elements of the recession and how economic policy can lessen the financial blow on everyday people.

Tax refund would help many Americans pay for holiday spending: survey

Many Americans said an advance on their tax refund would help with holiday debt, according to a recent Jackson Hewitt Tax Service survey.

Top tips to get that tax refund as soon as possible
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Believe it or not, it's already time to get your tax paperwork in order. It's officially tax season. Nobody really looks forward to this time of year because it can be stressful. Geoff Harlow, a CPA with the Illinois CPA Society, joined Good Day Chicago to offer some of his tips.

5 surprising ways you can save money
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Consumer savings expert Andrea Woroch dishes out several unconventional ways that you can ease the stress on your bank account.

Best place to retire? This state just beat Florida, according to a new study

WalletHub compared the 50 states across 47 key indicators of retirement-friendliness including affordability, health-related factors and overall quality of life.

Tax filing season is underway - what to know
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Start getting your W-2 forms ready because tax filing season officially began on Monday.

Major Social Security trust funds could be tapped out by 2033: CBO

Social Security spending is trending upward as the proportion of Americans at or above retirement age has increased relative to the active workforce.

Why your tax refund this year could be lower than 2022's
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Dan Roccato, financial professor at the University of San Diego, talks about what tax filers can expect from their refunds this year.

$47M in Cook County property tax refunds to be issued automatically

More than $47 million in property tax refunds will be sent over the next few months to more than 53,000 Cook County homeowners who overpaid last year.

IRS ends COVID-19 tax credits: Here's what you need to know before filing in 2023

Among the several pandemic tax credits returning to 2019 levels is the Child Tax Credit. Filers will get $1,600 less in credit for 2022 for each qualifying child under age 17.

Here's when you can start filing your 2022 tax return

Tax filing begins on Jan. 23, and the deadline to submit last year's tax returns, file extensions, and pay money owed falls on April 18.

Tips for buying a car without breaking the bank
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Dan Roccato, financial professor at the University of San Diego, walks us through the car-buying process in 2023 and common pitfalls to avoid.

Biden proposes new student loan repayment plan: Here’s how much borrowers will save

The Department of Education's new student loan repayment plan would offer $0 monthly payments for any individual borrower who makes less than roughly $30,600 annually and any borrower in a family of four who makes less than about $62,400.