Latest from Michelle Singletary

Just because the world is opening back up doesn’t mean your wallet should

Now that things are getting back to normal, the pressure is back on spending money on clothes, eating out and social experiences. For those who have the financial ability to splurge, here are five reasons to avoid returning to your pre-pandemic spending sprees.
  • Jun 18, 2021
  • Post Reports

Inflation, inflation, inflation

The Fed says inflation could climb higher than projected — but many of the price hikes could be short-lived. How to navigate the many new spending opportunities the end of the pandemic has brought. Plus, the power of this year’s graduation speeches.
  • Jun 17, 2021

IRS launches child tax credit tool for low-income families. Community groups say it’s too hard to use.

The IRS has launched an online tool to help low-income families register for monthly child tax credit payments. But it doesn't work on mobile devices, which advocacy groups say makes it less accessible to the most vulnerable people.
  • Jun 15, 2021

What you need to know about setting up a 401(k) on your first job

Here are some tips to help a young adult sign up for a 401(k) for the first time. With the right contribution level and time, they can become a 401(k) millionaire.
  • Jun 8, 2021

The tax system is built to favor wealthy Whites, new book argues

Racial bias in the tax code contributes to wealth disparity, Emory law professor Dorothy Brown argues in her book "The Whiteness of Wealth."
  • May 28, 2021

Amid the pandemic, some people can’t afford rent, others became 401(k) and TSP millionaires.

Despite the continued impact of the pandemic on the U.S. economy, average balances in retirement accounts skyrocketed, according to the latest quarterly retirement report from Fidelity Investments. The number of 401(k) and Thrift Savings Plan millionaires hit record numbers.
  • May 25, 2021

Millions of consumers paid down their credit card balances during the pandemic. Let’s keep this trend going.

The New York Fed reported that total credit card balances declined by $49 billion. It was the second-largest quarterly decline in the history of the data, which originated in 1999.
  • May 21, 2021

Cryptocurrency scams rose 1,000 percent in the past year and cost consumers at least $80 million, FTC says

As the number of Americans investing in cryptocurrency has increased, so too have the scams. The Federal Trade Commission released new data showing cryptocurrency-related investment scams have skyrocketed.
  • May 18, 2021

What you need to know about the May 17 tax deadline

This FAQ addressed top issues from taxpayers for the May 17 tax deadline. People still aren't sure about the taxability of the unemployment income, stimulus payments, or whether they can take a home-office deduction.
  • May 16, 2021

Gig-economy jobs and how to manage the irregular income

The pros and cons of working in the gig economy. Adapted from “What to Do With Your Money When Crisis Hits: A Survival Guide,” to be published Tuesday by HMH.
  • May 14, 2021