The Latest Breaking News from Bankrate

Banks are piling on the perks while debt soars.

Gregory Daco, chief economist at EY Parthenon, expects to see a “K-shaped consumer spending pattern” in 2023, where working class families slow their spending, while wealthy families continue to splurge.

For 48% of Americans, their checking account fees are hurting their ability to prep their finances for a possible recession.

More likely than not, the U.S. economy will enter a recession this year, Bankrate’s Fourth-Quarter Economic Indicator poll found.

Despite the increase in revolving debt carriers, Americans’ favorite credit card perk has nothing to do with their APRs. Cash back is the most-favored credit card feature, far above low APR, wide acceptance, travel perks, and a slew of other features.

More Americans are leaning on their credit cards to cope with rising prices. And as interest rates continue to climb, that debt is getting more and more expensive.

As the Fed hinted at raising interest rates through 2023, investors are worried about a recession. However, the rate hike aggression is expected to slow down if inflation keeps cooling. Regardless of market conditions, buying and holding fundamentally sound stocks Johnson & Johnson (JNJ), Berry Corporation (BRY), Honda Motor Company…

Boosting their savings, paying off credit card debt, and building an emergency are some of the top financial resolutions for consumers this year.

The holidays are fast approaching, and for many of us, it's time to do some Christmas shopping.