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Retail sales saw a big increase of 1.4% in addition to higher revisions for both January and February, which is great news! Autos were the star of the show with 5.3% increase month-over-month. Excluding both autos and gasoline, sales grew 0.8% from February and 5.3% annually. Check out the video below for more detail on how this impacts consumer and the economy. Follow Bankrate for more analysis on current financial trends.

Is owning a home still part of the American dream? According to a new Bankrate survey, the answer is yes, as 82% of Americans consider homeownership to be a part of the American Dream. Homeownership was more commonly cited over being able to retire (71%), having a successful career (66%), owning a car, truck, or other automobile (56%), having children (44%), and obtaining a college degree (35%) as components of the American Dream. Notably, the majority (83%) of aspiring homeowners point to one or more affordability challenges as reasons why they do not currently own a home. For those looking to buy a home, Bankrate Chief Financial Analyst Greg McBride, CFA notes, “when affordability is strained, it often leads buyers to reach to the very limit or beyond what they can comfortably afford. Leave some buffer in your budget so if unplanned expenses arise or you incur an income disruption, it doesn’t lead to a crisis.” For more, visit: https://lnkd.in/dz9WnyKu

April 15th is here, and that means it's officially Tax Day 2025! If you haven't hit "submit" on your tax return yet, consider this your friendly nudge. With the standard deduction seeing a boost for 2024 returns, it’s an excellent time to decide if you’ll go standard or itemize. And if you're living in one of the 25 states with access to the IRS Direct File program, remember that you have a streamlined, no-cost way to get those taxes in. For those eager for a refund, e-filing with direct deposit is still your fastest option. But if you prefer paper, brace for a longer wait. So, gather up those W-2s, 1099s, and whatever else your accountant dreams of at night. Whether you're going solo or calling in the tax cavalry, it's time to get those returns filed. Avoid the penalties, and may your refund be swift! If you're scrambling for last-minute tax filing resources, Bankrate offers a wealth of information to help you get started. Just click here: https://lnkd.in/eXS9dJyB

How easy is it to save money in your state? A new Bankrate study found that Tennessee is the easiest state in the country to save money in, while Hawaii is the hardest. Overall, the top five states where it is easiest to save money are all in the South and Midwest, while the five hardest states to save money in are in the West and Northeast. Bankrate Financial Analyst Stephen Kates, CFP®, notes that aspiring savers should “review this data carefully, but also consider that certain metro areas may not reflect the state average. Job availability and cost-of-living may vary from region to region, while average savings rates may remain more consistent.” To see where your state ranks, visit: https://lnkd.in/gBt2uPjn

A new Bankrate survey highlights a significant trend: 64% of credit card debtors have delayed or avoided crucial financial decisions due to their debt. With Americans now grappling with a record $1.2 trillion in credit card debt and average credit card rates hovering around 20%, the financial strain is palpable. Among the top delayed/avoided actions are creating emergency savings (34%), investing (23%), and buying a car (21%). For many households, credit card debt is their most expensive form of debt, underscoring the importance of paying it off swiftly and cost-effectively. Strategies like utilizing a 0% balance transfer card or consulting a nonprofit credit counselor such as Money Management International can help. Additionally, increasing your income through a side hustle and reducing expenses can make a significant difference. Among credit card debtors, millennials and Gen Zers are more likely than older generations to say they delayed financial spending due to their credit card debt, at 75% and 72%, respectively. Gen Xers came in at 64% and baby boomers at 52%. Eliminating pricey credit card debt can vastly improve your financial health. Let's make it a priority! https://lnkd.in/eVJ8j4r2

The March Consumer Price Index is set to be released this week and will likely be the calm before the storm as it will show limited evidence of tariffs and their impact. Bankrate’s Chief Financial Analyst, Greg McBride, CFA breaks down what to expect from the inflation report and how that matters to consumers and their finances.

It's officially spring, which means warmer weather, pollen and a flurry of homebuying activity. Aspiring home buyers in today’s market need to earn nearly $40,000 more per year to afford a typical home in the U.S. compared to five years ago. The household income needed has skyrocketed to nearly $117,00 in 2025, according to Bankrate's latest study. But, of course, those numbers will look different depending on where you live. Residents in 30 states and the District of Columbia need a household income of more than $100,000 annually to afford a median-priced home. Five years ago, residents in just six states and the District of Columbia needed a six-figure income to afford a median-priced home. The District of Columbia requires the most income to afford a typical home in the area as of January 2025, at $240,009, followed by Hawaii at $235,638. West Virginia requires the least, at $64,179. I asked Americans from different parts of the country how much they think they need to earn to afford a typical home in their state. Many of their answers were close to our estimates, underscoring how widely entrenched the housing affordability problem is. Now it’s your turn to answer: How much household income do you think you need to afford a median-priced home in your state? Do you think housing is unaffordable in your area? Read more: https://lnkd.in/ecPYP5aJ

In a vacuum, tariffs are a one-time price adjustment, but the reality is the impacts can reverberate through the economy for months or years. For instance, tariffs on auto parts will create cost changes that impact not only new cars, but also used cars, rental costs, insurance costs, and repair costs. Our economy is an interconnected web domestically and internationally. It won’t shift overnight without some discomfort to our portfolios and our wallets. As this theater plays out over the next weeks and months, consumers and investors should seek to make conscientious decisions about how to adjust their spending and investments. With limited dollars (to spend or invest) we need to deploy of resources more carefully than before. Thanks to ABC News for including my thoughts. Follow Bankrate for further coverage and analysis as we delve deeper into how this environment impacts our finances.

At face value, the March jobs report looks pretty good. Some 228,000 jobs were added to payrolls, although with downward revisions for the previous two months. The unemployment report rose slightly to 4.2%, in part because more people were in the labor force. At the same time, we know that effects of DOGE job cuts are not reflected in this report because workers on leave or recieving severance are not counted, aside from ongoing legal challenges or lack of longer-term clarity. And, we know that the tarriffs announcement was made only in recent days. Remember, this data is collected around the 12th of the previous month. Here's more on what we're seeing. #jobs #economy #career

Last week, Bankrate experts Karen Bennett, Stephen Kates, CFP®, and Sarah Foster had the opportunity to share personal finance tips with Red Ventures employees during a Financial Literacy Panel. Moderated by Bankrate Lead Writer, Benét J. Wilson, the session covered important financial topics from how the state of the economy impacts our personal finances, tips for investing and building wealth, and how to secure your financial future. Thank you to Red Ventures’ Empowered ERG for hosting this and to our experts for sharing their valuable insights!