What Americans spend: A look at the cost of housing, food, transportation and more
Americans spent more than $70,000 in 2020 just to keep their households running.
6 min read
Dec 05, 2022
EXPERTISE
- Banking
- Personal finance
- Credit cards
EDUCATION
- Bachelor’s degree in English, University of Illinois
- Master’s degree in journalism, Columbia College Chicago
Karen Bennett is a consumer banking reporter at Bankrate. She uses her finance writing background to help readers learn more about savings and checking accounts, CDs, and other financial matters.
Karen brings decades of writing and reporting experience to the table, including the roles of credit cards writer for travel website Million Mile Secrets and money and career writer for The Cheat Sheet. Her work has also appeared in USA Today, Illinois Legal Times, and several Chicago, Milwaukee, and Washington, D.C. newspapers. In addition, she’s worked in the areas of marketing and business development, and she was product manager for a consumer money-saving website.
When she’s not writing Bankrate articles, she can often be found cheering her kids on at soccer games, cooking and reading up on saving for retirement and other personal finance topics.
Karen's latest articles
-
-
The best time of the year to buy everything in 2023
Here’s when to find the deepest discounts on a range of big purchases.
9 min read Nov 29, 2022 -
The average cost of a vacation: Transportation, food, entertainment and more
Many Americans are ready for a vacation. Here’s how much you’ll spend to get away.
6 min read Nov 29, 2022 -
Want to save money on paper checks? Skip your bank
You can spend less on reorders and still have the security features you need.
3 min read Nov 23, 2022 -
How to save money for a car in 7 steps
Take these simple steps to jumpstart your savings plan for a new car.
4 min read Nov 21, 2022 -
No-penalty CD vs. savings account
Should you keep money you need access to in a no-penalty CD or in a savings account?
4 min read Nov 21, 2022 -
Best online banks that take cash deposits
Let’s look at several online banks and credit unions that let you deposit cash.
5 min read Nov 16, 2022 -
What is a demand deposit account (DDA)?
These accounts provide easy access to your money.
3 min read Nov 14, 2022 -
What is a bank reconciliation statement?
A bank reconciliation statement helps you track business finances and catch errors.
2 min read Nov 10, 2022 -
Midterm elections 2022: Here are the key things at stake for your money
Inflation and the economy are hot topics as the midterm elections draw near.
7 min read Nov 08, 2022 -
Guide to checking account terminology
Learn about common checking terms, from bounced checks to outstanding checks.
4 min read Nov 08, 2022 -
Routing number: What it is and how to find yours
That string of numbers at the bottom of your check is really important. Find out why.
3 min read Nov 03, 2022 -
American Express National Bank Review 2022
Learn more about this institution’s features and see if it’s the right fit for you.
Oct 28, 2022 -
US cities with the highest ATM fees
These are the cities where ATM fees will put the biggest dent in your wallet.
5 min read Oct 28, 2022 -
Top banks with 24/7 customer support
These popular banks are available to speak with customers around-the-clock.
3 min read Oct 27, 2022
-
Business checking vs. personal checking: How they compare
Here’s what you need to know if you’re considering a switch to business checking.
3 min read Nov 09, 2022 -
16 legitimate ways to find fast cash
Here are some places to look for a source of funds.
5 min read Nov 09, 2022 -
CDs vs. share certificates: What’s the difference?
Here are differences between CDs and share certificates, and which one to choose.
3 min read Nov 03, 2022 -
Walmart MoneyCenter: What it is and how to use it
Walmart MoneyCenter offers services like a checking account and money transfers.
3 min read Nov 03, 2022 -
11 pesky bank fees and how to avoid them
Steer clear of these common bank fees to keep your accounts from taking a hit.
7 min read Oct 28, 2022 -
5 things to know before opening a CD
A CD often earns a competitive, fixed rate. Here’s what to know before opening one.
6 min read Oct 28, 2022 -
How to choose the right savings account
Finding the right savings account consists of comparing rates, fees and more.
4 min read Oct 28, 2022 -
Pros and cons of jumbo CDs
Jumbo CDs pay a higher yield than other CDs. Here’s what to know before opening one.
3 min read Oct 27, 2022 -
What is a notary and what do they do?
A notary public witnesses and validates the signing of important documents.
2 min read Oct 27, 2022 -
What to do if a bank rejects you for a checking account
Your banking past has come back to haunt you. Here’s how to ask for a second chance.
3 min read Oct 27, 2022 -
Is it safe to link bank accounts?
Linking bank accounts is a way to make it easier to transact between the two.
5 min read Oct 24, 2022 -
6 top reasons to save your money
Most people know they should be saving a portion of their income, but they might not grasp all of the benefits of doing so. Saving is an important habit to get into for a number of reasons — it helps [...]
4 min read Oct 20, 2022 -
-
8 banks that reimburse ATM fees
ATM fees can be nuisance that add up. Here are eight banks that don’t reimburse them.
3 min read Oct 13, 2022 -
How to become a millionaire: 7 steps to reach your goal
The advice is really simple, but reaching the goal is more challenging than it sounds.
5 min read Oct 12, 2022