The Latest Breaking News from Bankrate

As the Federal Reserve raises interest rates again, credit card debt is already at a record high, and more people are carrying debt month to month

The process can drag on for weeks, so getting started early is key.

There’s good news on the inflation front: December 2022 marked the sixth straight month that the U.S. rate of inflation has decreased.

Finding ways to prepare for a recession or weather high inflation can be even simpler than cutting back on spending and increasing your income. Sometimes, it first comes down to finding the right place to bank.

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…