Money Pulse

The April 15 filing deadline is here. If you haven't filed yet, here's what you need to know right now. Filing an extension is free and automatic — but it only extends the deadline to file, not to pay. If you owe and don't pay by April 15, interest and penalties start accruing immediately. If you're owed a refund, there's zero penalty for filing late, but you're giving the government a free loan every day you wait. Two last-minute moves that still work: you can contribute to a traditional IRA (for a 2024 deduction) until April 15, and you can contribute to an HSA for 2024 until the same deadline.

Top online savings accounts are still offering 4.5–5.0% APY as the Fed holds rates steady. That means your emergency fund is earning meaningful income — roughly $450–$500 per year on a $10,000 balance. But here's the context most people miss: if inflation is running at 2.8%, your real return on a 5% HYSA is about 2.2%. That's solid for cash reserves, but it's a reminder that savings accounts are for safety and liquidity, not wealth building. Once your emergency fund is fully funded, additional dollars should move into investments where historical returns average 7–10% after inflation.

If recent market swings have you thinking about selling, here's the historical reality check. The S&P 500 has experienced intra-year declines averaging 14.2% every single year since 1980 — yet has delivered positive annual returns in roughly 75% of those years. The temptation to "wait for things to settle down" is the most expensive instinct in investing. Time in the market consistently beats timing the market. An investor who stayed fully invested from 1990–2024 earned about 10.5% annually. Missing just the 10 best days reduced that to 6.7%. Missing the 20 best days? 4.4%.

We're a quarter into 2025, which means you should be roughly 25% of the way to maxing out your retirement contributions. Here's the math: 401(k) limit is $23,500 ($31,000 if 50+), which means you need to contribute about $1,958/month or $904/biweekly paycheck. Roth IRA limit is $7,000 ($8,000 if 50+), or $583/month. HSA limit is $4,300 individual / $8,550 family. If your paycheck deductions won't get you there by December, now is the time to increase your contribution percentage — not in October when you'll need to scramble.

Average credit card APR has climbed to 22.8% — a record high. If you're carrying a $5,000 balance and paying $150/month, you'll pay $2,400 in interest alone and take 47 months to pay it off. That same $5,000 at 0% (via balance transfer) paid off at $150/month takes 34 months and costs zero in interest. The difference: $2,400 that stays in your pocket. Even with a typical 3% balance transfer fee ($150), you save $2,250.