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<?xml version="1.0" encoding="UTF-8"?><rss version="2.0" xmlns:content="http://purl.org/rss/1.0/modules/content/" xmlns:wfw="http://wellformedweb.org/CommentAPI/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:atom="http://www.w3.org/2005/Atom" xmlns:sy="http://purl.org/rss/1.0/modules/syndication/" xmlns:slash="http://purl.org/rss/1.0/modules/slash/" xmlns:georss="http://www.georss.org/georss" xmlns:geo="http://www.w3.org/2003/01/geo/wgs84_pos#" xmlns:media="http://search.yahoo.com/mrss/" > <channel> <title>Money.com</title> <atom:link href="https://money.com/money/feed/" rel="self" type="application/rss+xml" /> <link>https://content.money.com/money/feed/</link> <description>Money.com</description> <lastBuildDate>Tue, 21 May 2024 14:03:22 +0000</lastBuildDate> <language>en-US</language> <sy:updatePeriod> hourly </sy:updatePeriod> <sy:updateFrequency> 1 </sy:updateFrequency> <generator>https://wordpress.org/?v=6.3.4</generator><site xmlns="com-wordpress:feed-additions:1">180424325</site> <item> <title>Target Is the Latest Store to Go on a Price-Slashing Spree</title> <link>https://money.com/target-price-cuts-store-discounts/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Tue, 21 May 2024 13:17:35 +0000</pubDate> <category><![CDATA[Uncategorized]]></category> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5952070</guid> <description><![CDATA[In a bid to win back inflation-weary customers, Target is discounting milk, bread, veggies, yogurt, coffee, pet food, paper towels and more.]]></description> <content:encoded><![CDATA[<p>Target is the latest major retailer to announce broad price reductions as stubborn inflation continues to weigh on the budgets of everyday Americans.</p><p>The box-store behemoth said Monday that it has already slashed prices on 1,500 popular products, including many grocery staples, with “thousands more price cuts” planned for the summer. In total, about 5,000 products will be discounted once the plan is in full effect.</p><p>“We know consumers are feeling pressured to make the most of their budget,” Rick Gomez, an executive vice president at Target, said in a <a href="https://corporate.target.com/press/release/2024/05/target-will-help-consumers-save-big-by-lowering-prices-on-5,000-frequently-shopped-items">statement</a>.</p><p><a href="https://secure.money.com/pr/ud43e4c0bbc7?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Ftarget-price-cuts-store-discounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Ftarget-price-cuts-store-discounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=ud43e4c0bbc7&type=image" /></a></p><p>The discounted items include many essentials, such as milk, bread, veggies, yogurt, coffee, pet food, paper towels and more. The changes affect some name-brand products from well-known companies like Huggies, Pepperidge Farm and Clorox as well as Target’s own private-label brands, which include Good & Gather and Everspring.</p><p>The price cuts are in addition to seasonal promotions slated for Memorial Day and the Fourth of July. Target estimated that the lower prices will add up to millions of dollars of savings, collectively.<strong><br /></strong></p><p>The strategy also doubles as a way for the retailer to <a href="https://money.com/stores-cutting-prices-inflation/">lure back inflation-weary customers</a>.</p><h2>Why is Target lowering its prices?</h2><p>Though the <a href="https://money.com/fed-interest-rate-cuts-predictions-september/">inflation rate for April</a> was slightly lower than expected at 3.5%, it lingers well above the Federal Reserve’s preferred rate of about 2% in the long run. Month after month of price growth — albeit much slower than at the 2022 peak — continues to eat into Americans’ budgets.</p><p>According to the National Retail Federation, a retail lobbying group that represents Target and other retailers, persistent inflation is contributing to fatigue from consumers, causing them to be more selective with their spending.</p><p>Target is not immune to the trend. The company’s latest earnings report, which was released in March and looks at the final three months of 2023, reveals the retailer has been grappling with sluggish sales — and looking for ways to reverse them.</p><p>“While there are some encouraging signs in the economy, there are also stubborn pressures impacting families,” Christina Hennington, Target’s chief growth officer, said on a March earnings call. “Consumers say they still feel stretched, they’re balancing a lot and having to make trade-offs.”</p><p>In a similar bid to woo budget-conscious shoppers, Target debuted a new private-label brand called Dealworthy in February. The no-frills brand name includes about 400 items like paper towels, disposable plates, cotton balls, underpants, toothbrushes and other essentials priced mostly under $10.</p><h2>Other retailers cutting prices</h2><p>In recent months, several other grocers and retailers have lowered their prices for similar reasons: Inflation pushed some shoppers away. Now, those companies want them back.</p><p>For instance, Walmart, Ikea, Whole Foods, Giant Food, Michaels and Aldi have recently announced or implemented broad price reductions in an effort to drum up business from folks who may have previously been turned off by soaring price tags.</p><p>“Freight costs are lower, and input costs are also moderating, so retailers can afford to take those lower costs and pass them on to the consumer,” Mickey Chadha, vice president of corporate finance at Moody’s, <a href="https://money.com/stores-cutting-prices-inflation/">previously told Money</a>.</p><p>Price cuts may have also been spurred by mounting pressure from the White House. For months now, President Joe Biden has blamed lingering inflation on the greed of major corporations and urged retailers to use their record profits to bring their prices back down.</p><p>Alas, even though some retailers are starting to do just that, Chadha said it’s unlikely that prices will ever fall back to where they were before the pandemic.</p><p class="p1"><a href="https://secure.money.com/pr/u9f10c3be8c0?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Ftarget-price-cuts-store-discounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Ftarget-price-cuts-store-discounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=u9f10c3be8c0&type=image" /></a></p><h2>More from Money:</h2><p class="headline heading-content"><a href="https://money.com/private-college-tuition-discount-record-high/">The Average Tuition Discount at Private Colleges Hits 52%, a Record High</a></p><p class="headline heading-content"><a href="https://money.com/meme-stocks-gamestop-down-billions/">Meme Stock Flop: GameStop Investors Lost Over $13 Billion Last Week</a></p><p class="headline heading-content"><a href="https://money.com/home-price-cuts-increase-zillow-report/">The Share of Homes for Sale With Price Cuts Hit a 6-Year High</a></p><p class="p1"><a href="https://secure.money.com/pr/o4da576d97c8?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Ftarget-price-cuts-store-discounts%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Ftarget-price-cuts-store-discounts%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=o4da576d97c8&type=image" /></a></p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5952070</post-id> <media:thumbnail url="https://img.money.com/2024/05/News-Target-Slashing-Prices2.jpg?quality=85" /> <media:content url="https://img.money.com/2024/05/News-Target-Slashing-Prices2.jpg?quality=85" medium="image"> <media:title type="html">News-Target-Slashing-Prices2</media:title> </media:content> </item> <item> <title>Why Eating at Restaurants Is So Expensive Right Now</title> <link>https://money.com/restaurant-prices-increase-inflation/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Mon, 20 May 2024 19:17:49 +0000</pubDate> <category><![CDATA[News]]></category> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5951976</guid> <description><![CDATA[As restaurant prices rise faster than general inflation, Americans are collectively saying "we have food at home."]]></description> <content:encoded><![CDATA[<p>If it feels like restaurant bills are getting more expensive, you’re not imagining it: The cost of dining out is on the rise even as grocery prices decline.</p><p>The latest <a href="https://money.com/fed-interest-rate-cuts-predictions-september/">inflation data</a> shows that prices for food away from home increased by 0.3% from March to April, while food-at-home prices declined by 0.2%. Compared to a year ago, the restaurant index is up 4.1%.</p><p>Americans are taking notice. As restaurant prices rise faster than general inflation, 68% of a surveyed group of consumers said they are “trading down from restaurant meals to food from the grocery store,” according to a <a href="https://www.vericast.com/press-release/rising-costs-at-restaurants-have-more-americans-saying-we-have-food-at-home/">recent report</a> from Vericast, a marketing firm.</p><p class="p1"><a href="https://secure.money.com/pr/u9677d2569ed?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Frestaurant-prices-increase-inflation%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Frestaurant-prices-increase-inflation%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=u9677d2569ed&type=image" /></a></p><h2>High prices discourage diners</h2><p>Dana Baggett, executive director of Vericast’s restaurant division, said in the report diners are also making other changes to deal with higher costs, like picking cheaper places to eat and choosing to dine out at more affordable mealtimes (aka breakfast and snacks, not dinner).</p><p>Of course, when you dine out, you’re not just paying for the food itself but also the labor and all the other costs of running a restaurant. But as the premium to eat out rises, people are naturally changing their habits.</p><p>“There’s a noticeable decrease in consumers dining out, especially with consumers that have a household income under $75,000,” Baggett said in the report. “The steadily increasing cost of dining out is testing the limits of what consumers can and will spend.”</p><p>Meanwhile, several large chain stores — including <a href="https://corporate.target.com/press/release/2024/05/target-will-help-consumers-save-big-by-lowering-prices-on-5,000-frequently-shopped-items">Target</a> and <a href="https://corporate.aldi.us/fileadmin/fm-dam/newsroom/Press_Releases/aldi-doubles-down-on-summer-savings-to-put-100-million-back-into-customers-wallets-press-release.pdf">Aldi</a> — have announced price drops on food items this month, indicating the trend toward lower grocery costs may have some momentum. In a <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/05/15/statement-from-president-joe-biden-on-the-april-consumer-price-index/#:~:text=Prices%20are%20still%20too%20high,lower%20grocery%20prices%20for%20consumers.">statement</a> responding to the new inflation data last week, President Joe Biden mentioned the progress but said food prices are still too high, adding that he’s “calling on grocery chains making record profits to lower grocery prices for consumers.”</p><p>In a <a href="https://www.bloomberg.com/news/articles/2024-04-09/americans-still-seeing-food-inflation-at-restaurants-usda-says">Bloomberg TV</a> interview last month, Agriculture Secretary Tom Vilsack acknowledged that restaurant prices are an issue for many everyday folks.</p><p>“The opportunities at grocery stores are improving significantly, but it is restaurants where we are still seeing a bit of high inflation,” he said.</p><h2>Fast food companies offer promotions</h2><p>For their part, fast food restaurants seem to be aware that customers are frustrated about prices. With inflation easing, some companies are trying to gain market share with new promotions.</p><p>McDonald’s is launching a new $5 meal deal this summer that will include a burger or a sandwich, four nuggets, fries and a drink, and Jack in the Box is coming out with a “Munchies under $4″ offer.</p><p>“We in the industry are all seeing this kind of pressure from the headwinds of the consumer,” Dean Harris, CEO of Jack in the Box, said during an earnings call last week. “We know that value is going to be something we talk about for the rest of the year. We know the competition is doing that, so we will be in that game.”</p><p class="p1"><a href="https://secure.money.com/pr/q04447c77b84?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Frestaurant-prices-increase-inflation%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Frestaurant-prices-increase-inflation%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=q04447c77b84&type=image" /></a></p><h2>More from Money:</h2><p><a href="https://money.com/best-credit-cards/">17 Best Credit Cards of May 2024</a></p><p><a href="https://money.com/social-security-cola-2025-increase-payments/">Social Security COLA: Projected 2025 Payments Tick up on Latest Inflation Data</a></p><p><a href="https://money.com/fed-interest-rate-cuts-predictions-september/">When Will the Fed Cut Rates? Cooling Inflation Builds Hope for September</a></p><p class="p1"><a href="https://secure.money.com/pr/sc3ba8a1c51c?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Frestaurant-prices-increase-inflation%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Frestaurant-prices-increase-inflation%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=sc3ba8a1c51c&type=image" /></a></p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5951976</post-id> <media:thumbnail url="https://img.money.com/2024/05/News-Restaurants-Expensive.jpg?quality=85" /> <media:content url="https://img.money.com/2024/05/News-Restaurants-Expensive.jpg?quality=85" medium="image"> <media:title type="html">News-Restaurants-Expensive</media:title> </media:content> </item> <item> <title>Meme Stock Flop: GameStop Investors Lost Over $13 Billion Last Week</title> <link>https://money.com/meme-stocks-gamestop-down-billions/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Mon, 20 May 2024 17:46:08 +0000</pubDate> <category><![CDATA[News]]></category> <category><![CDATA[stocks]]></category> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5951960</guid> <description><![CDATA[If you bought $1,000 worth of GameStop stock at the recent high, it would have been worth $300 a few days later.]]></description> <content:encoded><![CDATA[<p>If you missed out on last week’s <a href="https://money.com/gamestop-meme-stock-rally-roaring-kitty/">meme stock rally</a>, consider yourself lucky. The second iteration of GameStop mania ended as abruptly as it arrived, leaving retail investors on the hook with exceptional losses and erasing any hopes of repeating 2021’s “moonshot.”</p><p>Last week’s well-publicized return of Keith Gill, a.k.a. Roaring Kitty, coincided with shares of GameStop (GME) rising 179% from market close Friday, May 10, to market open Tuesday, May 14<strong>.</strong> However, the rally was short-lived. By market close at the end of the week, GameStop investors had lost $13.1 billion, according to an <a href="https://www.investors.com/etfs-and-funds/sectors/sp500-dumb-money-loses-billion-in-latest-gamestop-stock-mania/">Investor’s Business Daily analysis</a>.<del></del></p><p><a href="https://secure.money.com/pr/w534f64483f7?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fmeme-stocks-gamestop-down-billions%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fmeme-stocks-gamestop-down-billions%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=w534f64483f7&type=image" /></a></p><p>As of Monday morning, the stock had plummeted 70% from its recent high, underscoring the dangers of investing in GameStop or other meme stocks, which are widely regarded as fundamentally flawed companies.</p><p>In fact, the $13.1 billion loss experienced by investors is nearly double GameStop’s entire market capitalization — or the total value of a publicly traded company’s outstanding shares owned by stockholders — of $6.6 billion.</p><h2>Why did GameStop shares tank?</h2><p>Fewer traders hopped on the GameStop bandwagon this time around, in part suggesting that some of those left holding the bag after the first meme stock rally learned a valuable lesson and didn’t join the fray more recently. Daily trading volume for GME reached a high of 368.8 million Feb. 27, 2021; last week, daily trading volume maxed out at 96.08 million, or nearly 74% lower than in 2021.</p><p>Fundamentally, GameStop remains a flawed business. It has posted negative earnings per share 9 of the past 11 quarters and showed a net loss 10 of the past 12 quarters. Its assets have decreased from $3.76 billion in the third quarter of 2022 to $2.71 billion in the fourth quarter of 2023, and its operating expenses increased nearly 60% from the last quarter of 2023 to the first quarter of 2024.</p><p>Additionally, analysts’ forecasts for GameStop may have curbed some enthusiasm. <em>The Wall Street Journal</em>‘s one-year median price target is $7, <em>MarketWatch</em> gives GME a consensus rating of “Strong Sell,” and both outlets state there is 68.55% additional downside for the stock.</p><p>At the time of writing, shares are trading for $19.67, down from an intraday high of $67.40 last week. In other words, if you bought $1,000 worth of GameStop stock around that recent high, it would worth about $300 now.</p><p class="p1"><a href="https://secure.money.com/pr/fc4ee174c128?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fmeme-stocks-gamestop-down-billions%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fmeme-stocks-gamestop-down-billions%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=fc4ee174c128&type=image" /></a></p><h2>More from Money:</h2><p><a href="https://money.com/how-to-invest-in-your-20s/">How to Invest in Your 20s</a></p><p><a href="https://money.com/dow-40k-stock-market/">The Dow Just Crossed 40,000 for the First Time Ever</a></p><p><a href="https://money.com/best-stock-apps/">5 Best Stock Trading Apps</a></p><p class="p1"><a href="https://secure.money.com/pr/w589e9f64e7d?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fmeme-stocks-gamestop-down-billions%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fmeme-stocks-gamestop-down-billions%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=w589e9f64e7d&type=image" /></a></p><p> </p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5951960</post-id> <media:thumbnail url="https://img.money.com/2024/05/News-investors-lost-betting-GameStop.jpg?quality=85" /> <media:content url="https://img.money.com/2024/05/News-investors-lost-betting-GameStop.jpg?quality=85" medium="image"> <media:title type="html">News-investors-lost-betting-GameStop</media:title> </media:content> </item> <item> <title>What Is a Tax Credit?</title> <link>https://money.com/what-is-a-tax-credit/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Mon, 20 May 2024 16:01:51 +0000</pubDate> <category><![CDATA[News]]></category> <category><![CDATA[Taxes]]></category> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5946343</guid> <description><![CDATA[Here's what you need to know about popular tax credits and how to claim them.]]></description> <content:encoded><![CDATA[<p>It’s never too early to start getting your finances in order for Tax Day. And part of that is figuring out what you’ll be on the hook to pay the IRS.</p><p>Luckily, applying tax credits can lower your federal income tax bill — and, in some cases, even increase your <a href="https://money.com/wheres-my-refund/">refund</a>. Taxpayers with families, clean vehicles, homes, retirement savings and more can qualify for these credits. You may be eligible for more than one tax credit, too, so it’s crucial to understand their ins and outs.</p><h2>What is a tax credit?</h2><p>A tax credit is an amount of money that a taxpayer can claim in order to decrease their tax liability, or how much they owe in taxes in a given tax year. Technically, tax credits are incentives, so your eligibility is usually tied to qualities, behaviors or actions the government wants to reward. (Think: caring for kids, going to college, being environmentally friendly, et cetera.)</p><h2>How do tax credits work?</h2><p>You qualify for a tax credit based on personal characteristics and then can claim it on your individual income tax return when you go to <a href="https://money.com/how-to-file-taxes/">file your taxes</a>. You may need to fill out an extra form or provide supporting documentation.</p><p>Tax credits are what’s called dollar-for-dollar; they get subtracted directly from your federal tax liability. If you owe $500 in taxes and can claim a $100 tax credit, for example, then you’ll only owe $400.</p><p>Here’s another example. Say you were in a high-earning couple in 2023 and had a $250,000 AGI with an effective tax rate of 20%. Your tax bill was about $50,000. But if you’d claimed a $1,000 tax credit, that bill would have been $49,000 — and your effective rate would have dropped to 19.6%.</p><h2>What is the difference between a tax credit and a refund?</h2><p>Tax credits and refunds are not the same thing. A tax refund is the money you get back from the IRS when you’ve paid the government more what you owe, whereas a tax credit is a reduction of your bill.</p><p>Some tax credits are nonrefundable, meaning the tax credit is only good up to the amount you owe, and you sacrifice whatever’s left over after reaching zero. But some are refundable, meaning the money is yours even if the credit is more than your tax bill. For example, if you owe $400 and claim a $500 refundable tax credit, you’d get $100 added to your federal tax refund.</p><h2>What is the difference between a tax credit and a deduction?</h2><p>Tax deductions impact your taxable income — they reduce the amount of money your taxes are based on in any given tax year. Credits have a more direct impact, as they lower your taxes owed (or increase your refund).</p><p>Think about the standard deduction, which the vast majority of taxpayers take: For 2024, it decreases a single filer’s taxable income by $14,600 — it doesn’t decrease your tax bill by $14,600, nor do you get a refund of $14,600 (sorry).</p><h2>Popular types of tax credits</h2><p>There are several commonly claimed tax credits; here, we’re focusing on federal tax credits that individual taxpayers can claim (as opposed to state tax credits or ones intended for employers). Eligibility varies based on your own financial situation.</p><h3>Child tax credit</h3><p>The child tax credit is intended for people who are financially supporting — you guessed it — a child. For 2023, the credit was worth up to $2,000 per kid.</p><p>To qualify, a kid must be under age 17 at the end of the year; have a Social Security number; be your child, stepchild, foster child, sibling or descendant; live with you for more than half the year; be claimed as your dependent; and pay for no more than half of their own expenses. You’ll also have to satisfy income requirements.</p><p>You may remember that in 2021, the pandemic-era American Rescue Plan Act expanded the child tax credit to $3,000 per child between 6 and 17 years old and $3,600 per child under 6. It made the child tax credit fully refundable and allowed taxpayers to get half of the money in advance monthly payments. This provision expired at the end of 2021, and though several legislators have taken steps to revive it, Congress has not revived the expanded child tax credit.</p><p>Today, the child tax credit has a refundable and nonrefundable portion. For 2023, the refundable part was worth up to $1,500; it’s called the additional child tax credit.</p><h3>Child and dependent care credit</h3><p>A separate credit from the child tax credit, this is intended for taxpayers who paid care expenses for another person while they worked or looked for work. To qualify, that person must be under age 13; a spouse who’s unable to care for themselves and lives with you at least half of the year; or someone who’s unable to care for themselves, lives with you at least half the year and is (or would typically be) your dependent.</p><p>The child and dependent care credit covers 20% to 35% of your work-related expenses, depending on your income, up to a maximum of $3,000 for one person ($6,000 for two or more people).</p><h3>Earned income tax credit</h3><p>The earned income tax credit, or EITC, is intended for workers with low to moderate incomes. To qualify in tax year 2024, you must have a Social Security number, be a citizen or resident alien, have a <a href="https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit/earned-income-and-earned-income-tax-credit-eitc-tables">certain amount</a> of earned income, not have foreign income, and have less than $11,600 in investment income.</p><p>How much your EITC is depends on how many eligible children you have (the more kids/relatives you claim, the higher your income and credit can be). For 2023, the maximum EITC without kids is $632. With one child, it’s $4,213; with two, it’s $6,960. For three or more kids, it’s $7,830.</p><p>Keep in mind that if you claim the EITC or additional child tax credit (mentioned above), the IRS is legally obligated to hold onto your tax refund until mid-February.</p><h3>American opportunity tax credit</h3><p>The AOTC, as it’s abbreviated, is intended for people who are paying for certain higher education expenses for a qualifying student. College students are eligible as long as they’re pursuing a degree or other credential, are enrolled at least half time in at least one academic period in the tax year, not have graduated yet, and not have a felony drug conviction.</p><p>Taxpayers can’t claim the AOTC for more than four years and must also satisfy income requirements.</p><p>The AOTC relies on Form 1098-T, which is a tuition statement. The tax credit is $2,500 max per student (100% of the first $2,000 paid plus 25% of the next $2,000). If claiming the AOTC makes your tax liability zero, you’re able to claim 40% of what’s left over, up to $1,000, as a refund.</p><p>The IRS also offers the lifetime learning credit, or LLC. The LLC doesn’t require a student to be pursuing a degree, nor does it limit the number of tax years you can claim it — you just can’t claim both the AOTC and LLC for the same student or same expenses on one tax return. Other eligibility requirements are listed on the <a href="https://www.irs.gov/credits-deductions/individuals/llc">IRS website</a>.</p><h3>New clean vehicle tax credit</h3><p>This nonrefundable tax credit is intended for people who buy certain new, plug-in electric vehicles (or fuel cell electric vehicles). To qualify for the EV tax credit, you have to purchase it for personal use mostly in the U.S. and satisfy income requirements.</p><p>Requirements for this tax credit are tied to when you received the car in 2023, not when you bought it.</p><p>If your vehicle was placed in service between Jan. 1 and April 17, 2023, you’re eligible for $2,500 plus $417 if it has at least 7 kilowatt hours of battery capacity and $417 for each kilowatt hour of capacity beyond 5 kilowatt hours, up to $7,500 total.</p><p>If your vehicle was placed in service after April 18, 2023, it has to meet those conditions as well as mineral and battery requirements (which are $3,750 apiece), though the maximum credit is still $7,500.</p><p>There are certain price, weight and assembly requirements the vehicle must meet in order to <a href="https://money.com/electric-vehicles-qualify-tax-credits-2023/">qualify for the EV tax credit</a>, as well. If you bought a used EV from a dealer in 2023, you might qualify for a used clean vehicle credit; there’s more information about that on <a href="https://www.irs.gov/credits-deductions/used-clean-vehicle-credit">the IRS website</a>.</p><h3>Saver’s credit (retirement contributions tax credit)</h3><p>This tax credit is intended for certain low- and moderate-income taxpayers who are saving for retirement through an employer-sponsored plan (like a 401(k) or 403(b)) or an individual retirement account (IRA).</p><p>Taxpayers who are at least age 18, aren’t dependents and aren’t students can qualify, though your eligibility for and the amount of the credit depends on your adjusted gross income. You claim 10%, 20% or 50% of your retirement contributions up to $2,000 ($4,000 for married couples). The maximum credit, therefore, is $1,000 ($2,000 for married couples).</p><p>According to the IRS, over 9 million taxpayers claimed the saver’s credit on their 2020 returns, which adds up to $1.7 billion total or about $186 per person.</p><h2>How to claim a tax credit</h2><p>Some tax credits, like the earned income credit, have specific lines on the 1040; your <a href="https://money.com/best-tax-prep-software/">tax preparer</a> will likely fill them out for you. For other tax credits, you may have to fill out a Schedule 3 form, then include the relevant amounts when filing your 1040.</p><p>You might have to submit other documents, too, depending on which credits you’re eyeing: For the American opportunity credit, for instance, you’ll need to complete Form 8863 and attach it to your 1040.</p><p>If you need help claiming a tax credit (or determining which you’re eligible for), consider consulting the IRS website or an accredited tax professional.</p><h2>Latest tax credit news</h2><p>It’s been a busy few years for IRS tax credits.</p><p>In 2020 and 2021, the federal government sent out three rounds of stimulus checks to help people through the economic crisis triggered by the COVID-19 pandemic. These were advance payments of a refundable tax credit called the recovery rebate credit; as such, eligible Americans who didn’t receive their stimulus checks upfront could claim the credit on their tax returns in 2021 and 2022. Congress also expanded the child tax credit, as mentioned above.</p><p>For now, there is no recovery rebate or expanded child tax credit on the horizon. The IRS is currently focused on working out the kinks in the tax credits for clean vehicles and employee retention.</p><p class="p1"><hr><h2>Level up your financial literacy with Dollar Scholar</h2><p>Let us teach you the key money lessons you need to know. Get useful tips, expert advice and cute animal pics in your inbox every week.</p><p><a href="https://money.com/subscribe/dollar-scholar/" target="_blank">Sign Up</a></p><hr><h2>More from Money:</h2><p><a href="https://money.com/best-tax-relief-companies/">5 Best Tax Relief Companies</a></p><p><a href="https://money.com/best-tax-relief-companies/">How to File Taxes</a></p><p><a href="https://money.com/best-tax-prep-software/">The Best Tax Software</a></p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5946343</post-id> <media:thumbnail url="https://img.money.com/2023/11/Explainer-Tax-Credit.jpg?quality=85" /> <media:content url="https://img.money.com/2023/11/Explainer-Tax-Credit.jpg?quality=85" medium="image"> <media:title type="html">Explainer-Tax-Credit</media:title> </media:content> </item> <item> <title>How Motion Sensors Work</title> <link>https://money.com/how-motion-sensors-work/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Mon, 20 May 2024 14:48:15 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5951957</guid> <description><![CDATA[Motion sensors, along with cameras and lighting systems, have become one of the most recognizable parts of the best home security systems. They are also used for a variety of everyday purposes outside of home security. However, you may have wondered how motion sensors work from a mechanical perspective. Read on to learn how motion…]]></description> <content:encoded><![CDATA[<p class="p1"><a href="https://secure.money.com/pr/m2ab77ffde81?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fhow-motion-sensors-work%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fhow-motion-sensors-work%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=m2ab77ffde81&type=image" /></a></p><p>Motion sensors, along with cameras and lighting systems, have become one of the most recognizable parts of the <a href="https://money.com/best-home-security-system/">best home security systems</a>. They are also used for a variety of everyday purposes outside of home security. However, you may have wondered how motion sensors work from a mechanical perspective.</p><p>Read on to learn how motion sensors work and the different types of sensors available.</p><p class="p1"><a href="https://secure.money.com/pr/m50249e16c6f?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fhow-motion-sensors-work%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fhow-motion-sensors-work%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=m50249e16c6f&type=image" /></a></p><h2>What is a motion sensor?</h2><p>A motion sensor or motion detector is a device that sends an electrical signal when it gets triggered by motion. This signal can be synced to turn on a light, activate a simple alarm or be part of a home security system. Motion sensors are usually placed near entry points and outside homes to detect potential intruders and stop unwelcome guests.</p><p>A motion sensor can be used to activate a security camera, which then immediately starts recording, or simply to turn on a light when you approach the front door. Its variety of uses in home security systems and relatively low cost have made them a common element of even the simplest of security systems.</p><p>The first motion detection device was invented by attorney Samuel Bagno in 1947 in New York. Its patent claims that it would activate by “interference with mechanical vibrations in air or other fluid using active vibration detection systems using ultrasonic detection means using Doppler shift detection circuits”.</p><h4>Other uses for motion sensors</h4><p>Motion sensors are used widely and for a variety of purposes unrelated to home security, including automatic door openers in public buildings and activating public smart lighting systems that conserve energy when not in use.</p><h3>Types of motion sensors</h3><p>Motion sensors that are part of a security system are classified as having either active or passive detection systems. Active sensors fall into three categories: optical, microwave and acoustic.</p><h4>Active sensors</h4><ul><li><strong>Optical sensor:</strong> An optical sensor works by detecting and measuring light intensity, turning it into electrical signals that can be read by the motion sensor, usually in conjunction with a light transmitter. The sensor then detects any changes in light intensity, which activates the electrical trigger inside the device.</li><li><strong>Microwave sensor:</strong> A microwave sensor uses high frequency radio waves to sense motion. The advantage of a microwave sensor is that it has range in every direction, emitting waves by a transmitter which are then bounced back to a receiver that detects any changes.</li><li><strong>Acoustic sensor:</strong> As the name suggests, an acoustic sensor measures sound waves in the surrounding environment, detecting any sudden changes. The device produces an ultrasonic sound wave which humans cannot hear that then bounces back to the sensor. These work best for intruder detection in otherwise quiet environments.</li></ul><h4>Passive sensors</h4><p>Passive sensors don’t emit anything, only detecting changes in how infrared radiation hits its passive infrared (PIR) sensor. These are also sometimes called passive infrared detectors (PID). By detecting the radiation emitted by bodies, it can detect the presence of people, animals and some objects. Most low-cost sensors are passive sensors.</p><h4>Dual-technology sensors</h4><p>Some sensors may use multiple technologies at once for a more accurate reading, using a passive PIR sensor on top of a microwave sensor that only activates after the PIR sensor is tripped. This can potentially save energy when compared to operating a transmitter nonstop and gives more accurate readings by using two sensors to detect motion.</p><p class="p1"><a href="https://secure.money.com/pr/u11d79edb19f?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fhow-motion-sensors-work%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fhow-motion-sensors-work%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=u11d79edb19f&type=image" /></a></p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5951957</post-id> <media:thumbnail url="https://img.money.com/2024/05/Explainer-Motion-Sensors-Security.jpg?quality=85" /> <media:content url="https://img.money.com/2024/05/Explainer-Motion-Sensors-Security.jpg?quality=85" medium="image"> <media:title type="html">Explainer-Motion-Sensors-Security</media:title> </media:content> </item> <item> <title>How Does ADT Work?</title> <link>https://money.com/how-does-adt-work/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Fri, 17 May 2024 21:35:58 +0000</pubDate> <category><![CDATA[home security system]]></category> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5951939</guid> <description><![CDATA[ADT is a residential and business security service offered by ADT Inc., a well-known company in the home security industry with a long history and strong reputation. ADT features a range of products and services designed to protect properties from various threats, including burglaries, fires, carbon monoxide leaks and medical emergencies. For these reasons, it…]]></description> <content:encoded><![CDATA[<p><a href="https://secure.money.com/pr/zc5fae6bcad0?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fhow-does-adt-work%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fhow-does-adt-work%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=zc5fae6bcad0&type=image" /></a></p><p>ADT is a residential and business security service offered by ADT Inc., a well-known company in the home security industry with a long history and strong reputation. ADT features a range of products and services designed to protect properties from various threats, including burglaries, fires, carbon monoxide leaks and medical emergencies. For these reasons, it is one of the <a href="https://money.com/best-home-security-system/">best home security systems</a> you can find. But how exactly does ADT work?</p><p>Below, we explain how ADT’s equipment and monitoring services work, how to get started with the service and how to contact its customer support.</p><p><a href="https://secure.money.com/pr/e8379588f9b4?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fhow-does-adt-work%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fhow-does-adt-work%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=e8379588f9b4&type=image" /></a></p><h2>How Does ADT Equipment Work?</h2><p>ADT’s home security equipment forms the backbone of their comprehensive protection system. Here’s an in-depth look at how each component functions to ensure your home remains secure.</p><h3>Control Panel</h3><p>The ADT control panel communicates with all the sensors and devices in your home, acting as the central hub of your security system. When the system is armed, the control panel monitors all connected devices and triggers an alarm if a security breach is detected. Modern ADT control panels often come with touch screens to make navigating the user interface easier.</p><h3>Door and Window Sensors</h3><p>These sensors are designed to detect when a door or window is opened. They have two parts: one is installed on the door or window, and the other on its frame. When the door or window is closed, the two parts align and create a circuit. If the circuit is broken (i.e., if the door or window is opened), the sensor sends a signal to the control panel, which can then trigger an alarm.</p><h3>Motion Detectors</h3><p>Motion detectors use infrared technology to sense movement within their coverage area. If motion is detected while it’s armed, the sensor communicates with the control panel to trigger an alarm. These detectors are usually placed in areas where an intruder is likely to pass through, such as hallways or living rooms.</p><h3>Security Cameras</h3><p>ADT offers a range of security cameras, including indoor, outdoor and doorbell cameras. These cameras provide real-time video monitoring and recording. They come equipped with features such as HD video, night vision and two-way audio, allowing you to see, hear and speak to anyone on your property from your mobile device.</p><h3>Environmental Sensors</h3><p>ADT also offers environmental sensors that detect smoke, carbon monoxide and water leaks. These sensors are crucial for early detection of potential hazards. For instance, smoke detectors can alert you to a fire, while carbon monoxide detectors can warn you about dangerous gas leaks, prompting you to take swift action.</p><h2>How Does ADT Monitoring Work?</h2><p>ADT’s professional monitoring services are a cornerstone of the company’s security offerings. They ensure that your home is protected around the clock, which may grant greater peace of mind without the need to constantly check up on your home yourself. Here’s how it works.</p><h3>24/7 Monitoring Centers</h3><p>ADT operates six monitoring centers across the country, staffed with trained professionals who are available 24/7. These centers are strategically located to ensure redundancy and reliability, so even if one center goes offline, another can take over seamlessly.</p><h3>Alarm Response</h3><p>When an alarm is triggered due to a break-in, fire or another emergency, the system sends a signal to the nearest ADT monitoring center. The response time is typically within seconds. The monitoring personnel will then attempt to contact you via phone or through the control panel’s two-way communication feature.</p><h3>Verification and Dispatch</h3><p>If the monitoring center cannot reach you or if you confirm the emergency, they will immediately dispatch the appropriate emergency services to your location. This could include the police, fire department or medical responders, depending on the nature of the alarm.</p><h3>False Alarms</h3><p>ADT’s monitoring service also helps in managing false alarms. They can guide you through the process of identifying and canceling false alarms, which is essential for preventing unnecessary dispatches and potential fines from local authorities.</p><h2>How to Get Started with ADT</h2><p>The first step for getting started with ADT is to contact the company for a consultation. This can be done through their website or by calling their customer service line. ADT typically sends a representative to your home to assess your security system needs and requirements. Based on the assessment, the ADT representative will recommend a security package.</p><p>ADT packages range from basic security systems to more advanced setups that include home automation features. After you select a package, ADT schedules a professional installation with a certified technician, who will set up the equipment, ensure that everything is functioning properly and provide a tutorial on how to use the system and the ADT mobile app.</p><p>After installation, your system will be activated and connected to ADT’s monitoring centers. You’ll also be given access to the ADT app, where you can arm and disarm your system, view camera feeds, and receive alerts.</p><h2>Contacting ADT’s Customer Support</h2><p>Effective customer support is essential for any security system. To that end, ADT offers multiple support channels, including phone support for both sales and technical assistance. Customers can call its customer service line for help with their system, to report issues or to ask questions about their account. The support line is available 24/7 for monitoring-related inquiries.</p><p>ADT’s website features a robust support section with FAQs, user guides and troubleshooting tips. You can also find contact forms and live chat options for real-time assistance. The ADT mobile app also provides a direct link to customer support. Through the app, you can access help articles, request service, and chat with support representatives.</p><p>Lastly, ADT maintains a presence on social media platforms like Facebook and Twitter. These channels can be used for customer service inquiries and to stay updated on the latest news and updates from ADT.</p><p><a href="https://secure.money.com/pr/b030f0d20778?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fhow-does-adt-work%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fhow-does-adt-work%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=b030f0d20778&type=image" /></a></p><h2>Summary of Money’s How Does ADT Work</h2><p>ADT’s security systems include a variety of equipment that works together to detect and respond to various threats. The company also provides 24/7 professional monitoring through multiple centers across the country. Its trained personnel respond quickly to alarms, verify emergencies, and dispatch the necessary services.</p><p>Starting with ADT involves a consultation, choosing a customized security package, professional installation and activating your system. Additionally, ADT offers multiple channels for customer support, including phone, online resources, a mobile app, and social media. The company’s support team is available around the clock to assist with any issues or questions.</p><p>By combining state-of-the-art equipment with professional monitoring and robust customer support, ADT is able to ensure peace of mind for its customers.</p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5951939</post-id> <media:thumbnail url="https://img.money.com/2024/05/Explainer-How-Does-ADT-Work.jpg?quality=85" /> <media:content url="https://img.money.com/2024/05/Explainer-How-Does-ADT-Work.jpg?quality=85" medium="image"> <media:title type="html">Explainer-How-Does-ADT-Work</media:title> </media:content> </item> <item> <title>How to Put Out a Fire</title> <link>https://money.com/how-to-put-out-a-fire/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Fri, 17 May 2024 21:05:36 +0000</pubDate> <category><![CDATA[home security]]></category> <category><![CDATA[home security system]]></category> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5951911</guid> <description><![CDATA[Learning how to put out a fire is not only a useful skill, but also a life-saving one. By knowing the basics, individuals can protect themselves and loved ones from the devastating effects of fires. The best thing to do when there’s a fire in your home is to evacuate and call emergency services. However,…]]></description> <content:encoded><![CDATA[<p class="p1"><a href="https://secure.money.com/pr/zc5fae6bcad0?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fhow-to-put-out-a-fire%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fhow-to-put-out-a-fire%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=zc5fae6bcad0&type=image" /></a></p><p>Learning how to put out a fire is not only a useful skill, but also a life-saving one. By knowing the basics, individuals can protect themselves and loved ones from the devastating effects of fires.</p><p>The best thing to do when there’s a fire in your home is to evacuate and call emergency services. However, when you know how to put out a fire it can help you react swiftly and effectively in critical moments.</p><p>Read on to learn the different classes of fire, how to put out fires without a fire extinguisher and some tips on how to use extinguishers. If you’re concerned about other safety issues in your home, check out our list of the <a href="https://money.com/best-home-security-system/">best home security systems</a>.</p><p class="p1"><a href="https://secure.money.com/pr/e8379588f9b4?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fhow-to-put-out-a-fire%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fhow-to-put-out-a-fire%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=e8379588f9b4&type=image" /></a></p><h2>Classes of Fire</h2><p>Not all fires are created equal.</p><p>Different flammable materials create different classes of fire. When you know what each class involves it helps determine how to extinguish each class or know which fire extinguisher to use.</p><p>The four main classes of fire are:</p><ul><li><strong>Class A fire</strong> – These involve ordinary materials such as paper, wood, fabrics, rubber and many plastics.</li><li><strong>Class B fire</strong> – These involve flammable liquids and gasses such as gasoline, oil, alcohol, greases, tars, solvents and lakers.</li><li><strong>Class C fire</strong> – These involve energized electrical equipment, such as appliances, wires and circuit breakers. They are uniquely hazardous because they present the risk of electric shock.</li><li><strong>Class D fire</strong> – These generally occur in industrial settings. They involve combustible metals, such as magnesium, titanium, potassium, and sodium.</li></ul><p>There are also <strong>Class K fires</strong> which involve cooking oils, trans-fats, fats and other combustible cooking materials. These kinds of fires generally occur in cafeterias or kitchens.</p><h2>How to put out a kitchen fire</h2><p>According to the National Fire Protection Association (NFPA), the leading cause of home fires is cooking fires.</p><p>The fastest way of putting out a cooking fire is to first turn off the heat source, if it’s safe to do so. Next, cover the pan with a metal lid, a cookie sheet or a large, fireproof dish. Doing this smothers the fire. Avoid swatting at the fire with a towel, as this will literally fan the flames. Instead, you can drape a damp towel over the fire to contain it and deprive it of oxygen.</p><p>In case of an oven or microwave fire, turn off the heat (or unplug it in the case of a microwave) and keep the door closed to cut off its oxygen supply.</p><p>For <a href="https://money.com/how-to-put-out-a-grease-fire/">grease fires</a> in particular, don’t use household items such as water, baking powder or flour, as these could lead to a bigger fire.</p><h2>How to put out a fire pit or campfire</h2><p>To extinguish these types of fires, douse the fire with water to put out the flames. Then, stir the embers and ashes with soil and pour more water over them again to make sure they’re thoroughly wet and the fire is out.</p><p>To avoid a fire getting out of control, whether in your backyard pit or out camping, make sure you build it within a pit or fire ring. If there isn’t a pit or fire ring, make one using rocks. Don’t forget to remove any flammable materials such as extra dry leaves or sticks before lighting the fire and avoid using excessive fuel.</p><h2>How to put out an electrical fire</h2><p>In the case of an electrical appliance fire, disconnect it from the power source first. If the fire is too large or spreading rapidly, evacuate immediately and call emergency services. Don’t, under any circumstance, use water as it is a natural conductor of electricity. Using water on an electrical fire can help the fire spread or could get you electrocuted.</p><p>You can use sodium bicarbonate (baking soda) to suffocate small fires. However, it’s best to contact emergency services as they’re trained to handle these and other fires.</p><p>A good fire safety tip when it comes to electrical fires is to never overload outlets or use extension cords to connect heavy appliances such as heating units or air conditioners.</p><h2>What to do in case of a gas fire</h2><p>We don’t recommend you try to put out a propane gas fire yourself. When it comes to gas fires, it’s best to evacuate everyone from the building and contact the fire department once you’re at a safe distance.</p><h2>How to use a fire extinguisher</h2><p>Before using any type of fire extinguisher, identify the safest evacuation route. According to the NFPA, “you need to fight the fire from an angle that ensures you have a clear path to safety while also making sure exits for anyone else in the home aren’t compromised.”</p><p>If the fire is blocking this path or you don’t feel comfortable using an extinguisher, evacuate and call the fire department.</p><p>Generally, you can use most fire extinguishers using what the Occupational Safety and Health Administration (<a href="https://www.osha.gov/etools/evacuation-plans-procedures/emergency-standards/portable-extinguishers/use">OSHA</a>) calls the P.A.S.S. technique:</p><ul><li>Pull the pin and break the tamper seal.</li><li>Aim the nozzle (or hose) at the base of the fire</li><li>Squeeze the lever or handle to release the substance</li><li>Sweep the nozzle (or hose) from side to side until you put out the fire.</li></ul><p class="p1"><a href="https://secure.money.com/pr/b030f0d20778?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fhow-to-put-out-a-fire%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fhow-to-put-out-a-fire%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=b030f0d20778&type=image" /></a></p><hr><h2>How to Put Out a Fire FAQs</h2><h3>How to put out a fire without water</h3><p>Ultimately, it will depend on the type of fire. If you're dealing with a grease fire, avoid using water and instead smother the flames by covering them up with a lid or cookie sheet. For electrical fires, first cut off the fire source, then use a non-conductive substance such as baking soda or a Class C fire extinguisher. In the case of gas fires, shut off the gas source and use a Class B extinguisher or smother the flames with a fire blanket if you have one. </p><h3>How to put out a lithium battery fire</h3><p>The best way to put out a lithium battery fire is to use an extinguishing agent. The most effective fire extinguisher for this class of fire is a Class D fire extinguisher. If you don't have a class D extinguisher you can use water to douse the fire. (While you shouldn't use water for lithium fires, you can use water to put out this type of fire because lithium batteries contain small amounts of lithium metals.)</p><h3>How to put out a chemical fire</h3><p>Chemical fires are Class B fires and you can put them out by suffocating them as oxygen fuels these fires. To extinguish chemical fires you should use a Class B fire extinguisher. However, if one isn't available it's best to evacuate and call emergency services as these professionals will have agents such as foam, carbon dioxide gas or dry powder to put them out.</p><hr><h2>Summary of Money’s guide on How to Put Out a Fire</h2><p>Learning how to extinguish fires is a useful skill that could help you protect yourself and those you care about. The National Fire Protection Association advises that when you encounter a fire you should “get out as quickly and safely as possible, and once outside, call the fire department immediately for assistance.”</p><p>However, knowing how to put out a fire can help you act quickly in these situations. For example, if you’re cooking and accidentally start a grease fire, you can quickly put it out by covering it with a metal lid, baking pan or a large, fireproof dish. For house fires or any fire for that matter, if there’s an extinguisher available exercise OSHA’s P.A.S.S. technique: pull the pin, aim at the base, squeeze the lever and sweep the nozzle.</p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5951911</post-id> <media:thumbnail url="https://img.money.com/2024/05/Explainer-Put-Out-Fire.jpg?quality=85" /> <media:content url="https://img.money.com/2024/05/Explainer-Put-Out-Fire.jpg?quality=85" medium="image"> <media:title type="html">Explainer-Put-Out-Fire</media:title> </media:content> </item> <item> <title>Pet-Safe Homes 101: Essential Security Features Every Pet Parent Needs to Know</title> <link>https://money.com/pet-safe-homes-101/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Fri, 17 May 2024 20:59:10 +0000</pubDate> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5951922</guid> <description><![CDATA[Pets aren’t just animals; they’re beloved members of the family, and there are certain safety considerations to keep in mind when we bring a four-legged friend home. Read on for a list of essential security features to implement in your household so that your pet can thrive and explore its new environment risk-free. Pet cameras…]]></description> <content:encoded><![CDATA[<p class="p1"><a href="https://secure.money.com/pr/zc5fae6bcad0?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fpet-safe-homes-101%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fpet-safe-homes-101%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=zc5fae6bcad0&type=image" /></a></p><p>Pets aren’t just animals; they’re beloved members of the family, and there are certain safety considerations to keep in mind when we bring a four-legged friend home.</p><p>Read on for a list of essential security features to implement in your household so that your pet can thrive and explore its new environment risk-free.</p><p><a href="https://secure.money.com/pr/e8379588f9b4?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fpet-safe-homes-101%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fpet-safe-homes-101%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=e8379588f9b4&type=image" /></a></p><h2>Pet cameras</h2><p>You can monitor your pet remotely by installing a pet camera. These devices often come equipped with useful features like live video streaming, two-way audio communication and motion detection. The cameras in the <a href="https://money.com/best-home-security-system/">best home security systems</a> also double up as pet cameras, so you’re covered if you invest in a home security setup.</p><p>With these devices, you can ensure your pet is safe and comfortable, and react in a timely manner if a problem comes up or if they gain access to a room they’re not supposed to be in. A pet camera can also capture any concerning behaviors or activities that you may not be aware of, allowing you to address these through training or behavioral modification.</p><h2>Microchip and I.D. tags</h2><p>Properly identifying your pet is key to ensuring its safety if it escapes or gets lost. Fit your dog or cat with a secure collar and ID tag that includes your name and one or two phone numbers.</p><p>Consider a microchip, too. This device is about the size of a grain of rice, and it is implanted under the pet’s skin using a needle. This microchip contains identification numbers that can be picked up by a scanner. These identification numbers lead to a database that stores your contact information so you can be notified if your pet is found.</p><p>That said, microchipping doesn’t replace the need for ID tags. Whoever finds a lost pet must have a scanner on hand to retrieve the microchip information, and these devices aren’t all that common. But if they take the lost pet to a veterinary clinic or shelter, the staff is likely to have a scanner.</p><p>Legible ID tags combined with a microchip are a multi-layered approach and increase the chances of reuniting with your companion animal if it gets lost or escapes.</p><h2>Lockable cabinets</h2><p>Secure cabinets keep pets away from hazards like toxic food and cleaning supplies. The trick is to look for child-proofing products, as these solutions typically overlap with security solutions marketed to pet owners. Of course, if you own a particularly strong and large breed, it’s best to look for products that can withstand their strength.</p><p>Renters and homeowners can upgrade existing kitchen and bathroom cabinets with a variety of latches: spring-loaded cabinet locks, magnetic cabinet locks, and U-shaped locks that slide around the cabinet handles and keep the doors locked in place.</p><p>Hazardous items such as cleaning supplies, medications and chemicals are best stored in these areas. Or alternatively, in high shelves where pets can’t reach. The same applies to food items, especially if your pet is inclined to overeating or rummaging the kitchen for snacks</p><h2>Baby gates</h2><p>Baby gates are an excellent solution for sealing off areas of the house and keeping your pet secure.</p><p>Look for gates appropriate for the animal’s height and jumping ability. Large dogs like Great Danes may easily jump over most gates, and you’ll likely need another solution to block their path.</p><p>Another tip is to buy a gate with more than one locking mechanism. Savvy pets can often figure out how to open a gate, and you’ll be thankful to have a second or third way to keep it closed.</p><h2>Window and door screens</h2><p>An open window is a dangerous invitation for cats. A bird or a loud noise can lure your cat off the ledge, whether you live on the ground level or the sixth floor. This type of incident is so common among domestic cats that vets call it “high-rise syndrome.”</p><p>Keeping the windows closed is the easiest solution, but it isn’t always feasible, and come summer, you’ll appreciate letting the breeze in.</p><p>You can install a rental-friendly mesh guard on your windows to keep your cats secure while allowing fresh air to circulate. Another option is to install child-proofing tools that open the window to a desired width (two inches is typically enough to keep small animals from slipping through).</p><h2>Pet emergency preparedness kit</h2><p>You’ll need a plan to care for your pet after emergencies like wildfires, tornadoes, earthquakes or flood warnings. A basic pet disaster kit should include the following:</p><ul><li>Your pet’s vaccination documents and I.D. tags</li><li>Bowls, food and water for at least three days</li><li>Manual can opener</li><li>Medications and medical records</li><li>Current photos of your pet in case you get separated</li><li>Leash and collar</li><li>Secure pet carrier for transport</li><li>Pet first aid kit</li><li>Litter box, doggy pads and any other sanitation supply your pet needs</li></ul><p>Store this kit in an accessible location in your home, next to the emergency kits for the rest of the household members.</p><h2>Temperature control</h2><p>Extreme temperatures can pose a danger to pets, especially during hot summers and severe winter conditions. The most pet-friendly housing is properly insulated and equipped with heating and cooling systems that maintain a comfortable environment for your pets year-round. Avoid leaving your pets unattended inside a vehicle or outside without any access to shade or shelter, as it can expose them to life-threatening temperatures.</p><p>According to the <a href="https://www.nal.usda.gov/programs/awic">Animal Welfare Act</a>, dogs shouldn’t be housed in temperatures higher than 85 degrees for more than four hours. Additional ventilation (fans or air conditioning) is crucial if the temperature rises past that number at any point during the day. During winter, the Humane Society recommends keeping pets sheltered at all times. If your pet spends a lot of time outdoors, make sure they have enough food to offset the energy spent staying warm and place their water in a plastic bowl (their tongues can stick to frozen metal).</p><h2>Secured trash cans</h2><p>Lid-locking trash cans will keep curious pets out of the bin and away from hazards like food scraps, bones and plastic items. Another alternative is to place weights at the bottom of the bin to prevent the dog from knocking the trash can over.</p><p>Some pet parents go as far as buying bear-proof trash cans if they own large dogs that are determined to raid the bin.</p><p class="p1"><a href="https://secure.money.com/pr/b030f0d20778?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fpet-safe-homes-101%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fpet-safe-homes-101%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=b030f0d20778&type=image" /></a></p><h2>Tips on how to pet-proof your home</h2><p>Pet-proof your home by area, examining each section, including the yard, balcony or patio. What hazards are at your pet’s eye level, and what items can they easily reach if they stand on their hind legs or jump?</p><p>Adjustments depend on the type of pet you care for and its temperament. An older dog may not need as many safety precautions as a puppy, and cat owners must pay special attention to windows, balconies and the washer and dryer.</p><h3>Kitchen and bathroom</h3><p>Most pets find trouble in the kitchen and bathroom, as these areas are where we store most cleaning supplies and potential hazards like food and waste.</p><ul><li>Keep human and pet food out of reach and in closed containers</li><li>Stash cleaning supplies and the trash behind closed doors and locked cabinets</li><li>Place medications, cleaners, chemicals and laundry supplies on high shelves</li><li>Keep trash cans covered or inside a latched cabinet</li><li>Check for and seal off any small spaces, nooks or holes inside cabinets and behind appliances where your pet may get trapped</li><li>Keep the toilet lid closed to prevent your pet from drinking any cleaning chemicals or from drowning (especially if they’re young)</li><li>Clear countertops and low coffee tables to discourage counter-surfing</li></ul><h3>Family and living room</h3><ul><li>Keep cords and wires from lamps, DVD players, televisions and other appliances organized and out of reach</li><li>Tuck away window blind cords. Pets (especially curious kittens) can get tangled up and hurt themselves</li><li>Put children’s toys, games and crafting supplies away in a secure drawer, box or cabinet</li><li>Take stock of which houseplants are pet-safe and which aren’t. Store the toxic plants in hard-to-reach areas</li><li>Make sure all heating/air vents have covers</li><li>Check whether candles, diffusers and essential oils are pet-safe</li><li>Keep fragile décor off easy to access surfaces like coffee tables and consoles</li></ul><h3>Garage and laundry room</h3><ul><li>Move all chemicals to high shelves or behind secure doors</li><li>Make sure to clean any antifreeze spills from the floor and driveway, as one taste can be lethal to animals</li><li>Bang on your car hood to ensure that your kitten (or any neighborhood cat) has not hidden in the engine compartment for warmth</li><li>Keep all sharp objects and tools out of reach</li><li>Cats are known for hiding in the dryer and washer. Keep these appliances closed when you’re not using them (even if you’re walking away for just a moment).</li></ul><h3>Bedroom</h3><ul><li>Store skin care, medications, lotions and makeup in drawers, cabinets or boxes</li><li>Be mindful of where you keep your laundry and make sure that there aren’t any leftover snacks or candies in any pockets</li><li>Store clothes, socks and shoes behind closed doors. These items can cause serious intestinal problems if swallowed</li><li>Move electrical and phone wires out of reach of chewing</li><li>Scan your bedroom for areas where your kitten can hide and check drawers and closet doors before closing them</li></ul><h3>Yard, patio or balcony</h3><p>The fence or balcony rail in the outdoor parts of your home should be tall enough to prevent your pet from escaping. There should be no gaps or holes where your pet could squeeze through or get stuck.</p><p>Consider pet safety when landscaping your yard, too. Herbicides and pesticides can be toxic to dogs and cats and should be avoided unless absolutely necessary. If you must use these chemicals in your yard, read the product instructions thoroughly. The general recommendation is to allow all pesticides, herbicides, and fertilizers to dry fully and keep your pet away from the area for at least two days.</p><p>Lastly, buy fertilizers without ingredients like bone and blood, and avoid birdseed mixes that include raisins. Dogs love to eat these ingredients even though they can make them seriously ill.</p><h3>Pet-friendly plants</h3><p>Many common household plants are toxic to pets. However, the risk of houseplants depends entirely on your pet’s temperament and habits: some dog breeds are habitual chewers and digging up these toxic houseplants can become their favorite pastime. Others are completely uninterested and pose no worry for their owners.</p><p>The safest bet is to opt for pet-friendly varieties, especially if you’re bringing a new pet home or if your pet’s going to be alone for long periods of time. The second best option is to store your houseplants in hard-to-reach places.</p><p>Here’s a list of some of the most popular pet-friendly houseplants:</p><ul><li>Chinese money plant</li><li>Money tree</li><li>Rattlesnake plant</li><li>Spider plant</li><li>Calathea</li><li>Certain succulents</li><li>Venus flytrap</li><li>Boston fern</li><li>Watermelon peperomia</li></ul><p>Check out the <a href="https://www.aspca.org/pet-care/animal-poison-control/toxic-and-non-toxic-plants">Toxic Plant Database</a> from the American Society for the Prevention of Cruelty to Animals (ASPCA) for a complete list.</p><p class="p1"><a href="https://secure.money.com/pr/u11d79edb19f?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fpet-safe-homes-101%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fpet-safe-homes-101%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=u11d79edb19f&type=image" /></a></p><hr><h2>Pet-Safe Homes 101 FAQs</h2><h3>How to dog-proof a fence</h3><p>Dog-proofing a fence is essential to prevent escape and ensure the safety of your furry friend. You should regularly inspect the fence for any gaps, holes, or weak spots and repair them promptly. Also, ensure that the fence is tall enough to prevent your dog from jumping over it. To prevent digging, install chicken wire at the bottom of the fence; to prevent climbing, consider adding a coyote roller or similar deterrent to the top of the fence. Lastly, remember to supervise your dog when they are in the yard to discourage any attempts to escape.</p><h3>How to keep a dog safe in a car</h3><p>Keep your dog in the backseat and restrained with a fitted seat belt harness, pet carrier or travel crate. Doing so not only protects the dog, but other passengers in the car. If you get in a car accident, an unrestrained dog becomes a heavy projectile that can seriously injure others. </p><p>Buckling your dog during car rides also keeps it safe after a collision. A scared dog can easily escape out of the car and onto dangerous traffic conditions, worsening an already difficult situation for everyone involved. </p><hr><h2>Summary of Money’s Pet-Safe Homes 101</h2><p>Through careful planning and attention to detail, pet parents can create a secure home for their beloved four-legged family members. Here are the most important safety features to keep in mind:</p><ul><li>Identification: I.D tags with contact information and microchipping</li><li>Pet-proof gates to seal of specific areas of the home</li><li>Lockable trash bins and latched cabinets to store food, medication and cleaning supplies</li><li>Pet emergency kits with everything you need to leave at a moment’s notice</li><li>Motion-sensing cameras to keep an eye on your pet throughout the day</li><li>Secure fences without any holes or weak points that your pet can get through</li><li>Window coverings or wedges to keep your cat or dog from falling out</li><li>Pet-friendly plants, fertilizers and lawn treatments</li></ul>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5951922</post-id> <media:thumbnail url="https://img.money.com/2024/05/Explainer-Pet-Home-Safety.jpg?quality=85" /> <media:content url="https://img.money.com/2024/05/Explainer-Pet-Home-Safety.jpg?quality=85" medium="image"> <media:title type="html">Explainer-Pet-Home-Safety</media:title> </media:content> </item> <item> <title>The Average Tuition Discount at Private Colleges Hits 52%, a Record High</title> <link>https://money.com/private-college-tuition-discount-record-high/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Fri, 17 May 2024 13:54:20 +0000</pubDate> <category><![CDATA[News]]></category> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5950722</guid> <description><![CDATA[As college costs spike, more students are receiving institutional aid, with bigger discounts off the full sticker price.]]></description> <content:encoded><![CDATA[<p>The typical private college student is now paying less than half the full price of tuition and fees as discounting hits a record high.</p><p>The average tuition discount rate at private colleges was 56.1% for freshmen and 51.9% for all undergraduate students for the 2023-2024 school year, according to a new <a href="https://www.nacubo.org/Press-Releases/2024/Annual-NACUBO-Tuition-Discounting-Study-Finds-Financial-Aid-Awards-on-the-Rise">study</a> from the National Association of College and University Business Officers (NACUBO). Both rates represent all-time highs for the study, which has been conducted annually since 1994.</p><p>A college’s discount rate is another way to describe how much it awards in scholarships and grants out of its own pocket. Officially, the term refers to the total institutional grant aid a college awards as a percentage of the total tuition and fee revenue it would collect if all students paid the full rack rate.</p><p class="p1"><a href="https://secure.money.com/pr/u3e72cf8ee70?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fprivate-college-tuition-discount-record-high%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fprivate-college-tuition-discount-record-high%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=u3e72cf8ee70&type=image" /></a></p><p>In other words, the NACUBO study finds that for every dollar of undergraduate tuition and fees colleges could have charged in 2023-2024, schools awarded roughly 56 cents of aid to freshmen and 52 cents to all undergraduates who received institutional grant aid. The findings are based on a survey of 325 private, non-profit colleges.</p><p>The results for the current school year are preliminary, since schools answered the survey in the fall before finalizing enrollment and aid packages for the spring semester. The final numbers may shift up or down, but the long-running trend of rising discount rates is likely to hold.</p><p>The average discount rate, for both freshmen and undergraduates overall, has increased almost every year in the past decade. In the 2014-2015 school year, the discount rates were 47.1% for freshmen and 41.3% for all undergraduates — about 9 to 10 percentage points less than they are for the current school year.</p><p>For comparison, in the same time period, published <a href="https://money.com/college-tuition-prices-decreasing-inflation/" target="_blank" rel="noopener">tuition prices</a> at private colleges increased from an average of $31,280 to $41,540, according to a separate <a href="https://research.collegeboard.org/media/pdf/Trends%20Report%202023%20Updated.pdf" target="_blank" rel="noopener">report</a> from the College Board.</p><h2>Which students receive tuition discounts?</h2><p>While public colleges also award institutional grants, the practice of tuition discounting is far more common at private colleges, which have a different business model since they don’t receive funding from state taxes.</p><p>Different private colleges have varied strategies for awarding their institutional aid. A small set of colleges, primarily the wealthiest, most selective institutions in the country, award <a href="https://money.com/scholarships-grants-for-college/" target="_blank" rel="noopener">grants and scholarships</a> based strictly on financial need. At these colleges, lower-income students typically have a much lower net cost of attendance than their middle- and upper-income peers.</p><p>Other private colleges, particularly those that are competing for students, reserve a much larger portion of their financial aid budgets for non-need-based aid, usually called merit aid.</p><p>Regardless of a college’s financial aid policies, the reality is the same: Most — and in some cases, all — freshmen at private colleges receive institutional aid that reduces the price they have to pay. In fact, the NACUBO study finds that, on average, nine in 10 first-year students at the surveyed colleges received institutional grants in 2023-2024. The average award was equal to 62% of tuition and fees.</p><p>These rates, too, have increased steadily in recent years. A decade ago, the average student aid for those receiving institutional awards covered 53.9% of tuition and fees.</p><p>As the report authors write, “Over the past decade, the data show at least two distinct trends: More students received institutional aid, and the aid students received accounted for a higher share of the institutions’ tuition and fee sticker prices, on average.”</p><p class="p1"><a href="https://secure.money.com/pr/uf2d11997a47?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fprivate-college-tuition-discount-record-high%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fprivate-college-tuition-discount-record-high%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=uf2d11997a47&type=image" /></a></p><h2>How tuition discounts affect college enrollment and revenues</h2><p>Discounting is used as an enrollment tool at many colleges. The idea is that different students can afford to pay different prices, and discounting can attract students who are unable or <a href="https://money.com/college-financial-aid-appeal-for-more-money/" target="_blank" rel="noopener">unwilling to pay the full sticker price</a> while still maximizing revenue from those students who do pay the higher rates.</p><p>In general, as published tuition rates, or sticker prices, have climbed, so, too, have discount rates at private colleges.</p><p>But there are many experts and analysts in higher education who say the continued rise of tuition discounts is unsustainable. The strategy only works in the long term if colleges are able to bring in enough new revenue to cover the cost of the discounts. And the NACUBO study finds that net revenue from tuition and fees has been volatile for the past decade. This year, preliminary data show a slight uptick in year-over-year net tuition revenue. Yet after accounting for inflation, it ends up looking like there will be a small drop, on average, in revenue from tuition for the 2023-2024 school year.</p><p>From a consumer perspective, the idea of a permanent sale on tuition probably sounds nice, given how expensive it can be to earn a college degree today. But there is a lot of criticism from this angle, too — namely that the high price, high aid model results in a lack of transparency around college costs.</p><p>Philip Levine, an economist who studies higher education, wrote in a <a href="https://www.brookings.edu/articles/ignore-the-sticker-price-how-have-college-prices-really-changed/">Brookings Institute paper</a> last month that current system of setting and communicating college prices does not work. His research shows that sticker prices are increasingly out of touch with the <a href="https://money.com/how-to-pay-for-college/" target="_blank" rel="noopener">price students actually pay for college</a>.</p><p>“We cannot expect students to make sound decisions regarding educational investments if they do not understand how much college will actually cost them,” he writes.</p><p class="p1"><a href="https://secure.money.com/pr/k121516a6d81?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fprivate-college-tuition-discount-record-high%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fprivate-college-tuition-discount-record-high%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=k121516a6d81&type=image" /></a></p><h2>More from Money:</h2><p><a href="https://money.com/college-tuition-prices-decreasing-inflation/">College Tuition Prices Are Actually Decreasing Thanks to Inflation</a></p><p><a href="https://money.com/college-costs-financial-aid-myths/">4 Things Families Often Get Wrong About College Costs</a></p><p><a href="https://money.com/student-loans/">Best Private Student Loans</a></p><p class="p1"><a href="https://secure.money.com/pr/y61180a308af?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fprivate-college-tuition-discount-record-high%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fprivate-college-tuition-discount-record-high%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=y61180a308af&type=image" /></a></p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5950722</post-id> <media:thumbnail url="https://img.money.com/2024/05/News-Private-Colleges-Discounting-Tuition-Freshmen.jpg?quality=85" /> <media:content url="https://img.money.com/2024/05/News-Private-Colleges-Discounting-Tuition-Freshmen.jpg?quality=85" medium="image"> <media:title type="html">News-Private-Colleges-Discounting-Tuition-Freshmen</media:title> </media:content> </item> <item> <title>The Share of Homes for Sale With Price Cuts Hit a 6-Year High</title> <link>https://money.com/home-price-cuts-increase-zillow-report/?xid=moneyrss</link> <dc:creator><![CDATA[]]></dc:creator> <pubDate>Fri, 17 May 2024 12:00:21 +0000</pubDate> <category><![CDATA[Uncategorized]]></category> <category><![CDATA[News]]></category> <guid isPermaLink="false">http://money.com/?post_type=money_article&p=5950645</guid> <description><![CDATA[Over 22% of home listings got a price cut in April, up from 17% the year before.]]></description> <content:encoded><![CDATA[<p>Homebuyers accustomed to seeing prices going higher and higher are finally getting some relief. The share of home listings with price cuts climbed to a six-year high last month, likely due to weaker demand as a result of high <a href="https://money.com/current-mortgage-rates/">mortgage rates</a>.</p><p>In April, 22.4% of home listings had price cuts, a 1.9 percentage point jump from a month prior and an increase from 17.2% in April 2023, according to a <a href="https://www.zillow.com/research/april-2024-market-report-34050/">new Zillow report</a>.</p><p>It’s unusual for so many home sellers to cut their listing prices at this time of year when the housing market is often in overdrive, Skylar Olsen, chief economist at Zillow, said in the report.</p><p><a href="https://secure.money.com/pr/cb3c129dcc04?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fhome-price-cuts-increase-zillow-report%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fhome-price-cuts-increase-zillow-report%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=cb3c129dcc04&type=image" /></a></p><p>The increase in price cuts comes as sellers have been entering the market at a faster rate than buyers so far this <a href="https://money.com/home-buying-guide-spring-2024/">spring homebuying season</a>.</p><p>The inventory of homes for sale is still about 36% lower than the pre-pandemic level, but the number of active listings increased 6.4% in April compared to the previous month, according to Zillow’s data.</p><p>Meanwhile, <a href="https://money.com/tips-for-homebuyers-high-mortgage-rates/">mortgage rates surged past 7%</a> in mid-April for the first time in 2024 after <a href="https://money.com/inflation-march-2024/">inflation data</a> came in hotter than expected, causing buyers to sit back and wait for better financing opportunities.</p><p>“The market coasted off of the speed built up in the first three months of the year. Home values continued to grow, but more slowly than the seasonal norm, and the speed of sales fell behind last year’s pace,” Olsen said.</p><h2>Home values remain high</h2><p>Unfortunately for buyers, despite a larger share of listings with price cuts, <a href="https://money.com/record-high-home-equity/">home values</a> are at a record high. Based on Zillow’s index that estimates what existing homes are worth, the typical home value was $359,000 in April. That’s a 4.4% increase from level a year ago of $344,000.</p><p>Because mortgage rates have soared, the typical monthly payment of $1,908 is up even more in the past year: 11.6%.</p><p>Olsen says recent price cuts from sellers could be a sign of “softer price growth ahead” amid weaker demand. However, there’s an alternative explanation, which is that the increase in price cuts is more related to sellers going through a “feeling out process.” Sellers may be adjusting prices more frequently because it’s a complicated real estate environment and some owners have simply initially listed at an unrealistically high asking price.</p><p>“The latter scenario becomes more likely in a rapidly changing market like we see today, with relatively few recent sales to compare against,” Olsen said.</p><p class="p1"><a href="https://secure.money.com/pr/q0ba5704b09e?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fhome-price-cuts-increase-zillow-report%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fhome-price-cuts-increase-zillow-report%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=q0ba5704b09e&type=image" /></a></p><h2>More from Money:</h2><p><a href="https://money.com/best-mortgage-lenders/">8 Best Mortgage Lenders of May 2024</a></p><p><a href="https://money.com/fed-interest-rate-cuts-predictions-september/">When Will the Fed Cut Rates? Cooling Inflation Builds Hope for September</a></p><p><a href="https://money.com/buying-vacation-homes-decrease/">Why People Are Giving up on Buying Vacation Homes</a></p><p class="p1"><a href="https://secure.money.com/pr/t39f99e0e0ab?type=image&xid&ca_referer=https%3A%2F%2Fmoney.com%2Fhome-price-cuts-increase-zillow-report%2F&ap_referrer=https%3A%2F%2Fmoney.com%2Fhome-price-cuts-increase-zillow-report%2F" target="_blank" rel="sponsored"><img src="https://secure.money.com/embeds/v1?pcuid=t39f99e0e0ab&type=image" /></a></p>]]></content:encoded> <post-id xmlns="com-wordpress:feed-additions:1">5950645</post-id> <media:thumbnail url="https://img.money.com/2024/05/News-Home-Sales-Price-Cuts.jpg?quality=85" /> <media:content url="https://img.money.com/2024/05/News-Home-Sales-Price-Cuts.jpg?quality=85" medium="image"> <media:title type="html">News-Home-Sales-Price-Cuts</media:title> </media:content> </item> </channel></rss> If you would like to create a banner that links to this page (i.e. this validation result), do the following:
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