The financial news that actually matters
The average American worker’s paycheck grew 3.6% over the past year. That sounds like progress until you look at what everything costs. According to the Bureau of Labor Statistics’ April 2026 Employment Situation report, released May 8, average hourly earnings for private nonfarm workers hit $35.53, up from $34.30 a year earlier. But consumer prices…
A borrower earning $35,000 a year and carrying $40,000 in federal student loans could see their monthly payment leap from under $100 to roughly $424 if they don’t act before July 1, 2026. That is the difference between an income-driven formula and the standard repayment plan the Department of Education will assign by default to…
Freshworks Inc. is eliminating roughly 500 jobs, about 11 percent of its workforce, as the company accelerates a shift toward artificial intelligence that its leadership says will redefine how it builds and sells software. The San Mateo, California-based maker of customer service and IT tools disclosed the restructuring in a regulatory filing in May 2026,…
For years, homeowners insurance was the kind of bill most people glanced at and paid. That era appears to be over. A Pew Research Center survey conducted in March 2026 found that 71% of U.S. homeowners say their premiums have risen in recent years, with 42% calling the increase substantial. Among those paying more, 57%…
In 2014, a licensed firearms dealer in Wisconsin opened his monthly bank statement and found a letter instead. His account was being closed. No fraud allegation, no compliance violation, no explanation beyond a boilerplate reference to the bank’s right to terminate relationships at its discretion. He was one of dozens of gun retailers, payday lenders,…
The clock is running out for anyone still holding a canceled Spirit Airlines ticket. Frontier Airlines’ rescue fares, which cut up to 50% off base prices for stranded Spirit customers, expire at 11:59 p.m. ET on May 10, 2026. After that, the discounts disappear for good, and passengers booking flights on routes Spirit once served…
A new car in America now costs more per month than a lot of people pay for groceries, utilities, and internet combined. Total outstanding auto loan balances reached a record $1.68 trillion as of March 2026, according to the Federal Reserve’s G.19 Consumer Credit report released on May 7, 2026. The average monthly payment on…
The University of Michigan has been asking Americans how they feel about the economy since 1952. In all that time, they have never felt this bad. The university’s Index of Consumer Sentiment fell to 48.2 in its preliminary May 2026 reading, the lowest mark in the survey’s 74-year history. It undercuts the worst months of…
A homeowner in Cape Coral, Florida, who bought at the 2022 peak may now owe more than the house would fetch on the open market. That scenario, once unthinkable in a state that minted equity for years, is playing out across multiple Florida metros at the same time the rest of the country is barely…
The average monthly payment on a new car loan in the United States has reached $773, according to Edmunds’ quarterly auto financing data. In 2018, that figure was $506. The 53% jump did not happen because Americans suddenly developed a taste for gold-plated bumpers. It happened because vehicle prices climbed, interest rates roughly doubled, and…