The Latest Personal Finance News for May 2026

Americans Are Less Confident About Their Retirement Savings

More Americans are doubting their ability to retire comfortably—and the numbers back it up. According to the 2026 Retirement Confidence Survey from the Employee Benefit Research Institute (EBRI) and Greenwald Research, 64% of Americans feel confident they'll have enough money to live comfortably in retirement, down from the previous year. Worker confidence took the biggest hit, with confidence falling 6 percentage points to 61%, while retiree confidence dropped 5 percentage points to 73%.

Most workers (4 in 5) and 7 in 10 retirees said they're worried the government will make changes to the U.S. retirement system. Meanwhile, fewer than 3 in 5 workers said they have enough savings to cover an emergency expense, down from 64% in 2025.

Why It Matters

For everyday Americans, this survey reflects a financial reality many are already living. The shift away from traditional pensions toward 401(k)s and Social Security has placed more of the retirement burden on individuals at a time when that's getting harder to manage. Rising housing costs are affecting 7 in 10 workers' ability to save, and nearly 6 in 10 say health care expenses are cutting into their retirement contributions, according to the EBRI survey.

The good news is that awareness is a starting point. If you're feeling uncertain about your retirement outlook, taking the opportunity to review your credit and get a handle on debt are practical first steps toward building a stronger financial foundation.

What You Can Do

• Read up on retirement planning.
• Understand the various retirement mistakes to avoid.
• Make sure you're getting your employer's 401(k) match (if available).
• Figure out how to manage your retirement savings.

Crypto-Backed Mortgages Are Coming

Homebuyers who hold cryptocurrency may soon have a new way to use it. Better Home & Finance and Coinbase announced a token-backed mortgage program that lets buyers pledge Bitcoin or USDC as collateral toward a down payment instead of putting up cash.

Eligible borrowers will receive two loans at closing: a conforming Fannie Mae mortgage on the home and a separate loan secured by the pledged crypto to cover the down payment—similar to a piggyback loan. Better holds the crypto through Coinbase for the life of that loan and returns it once repaid. Because the mortgage follows Fannie Mae guidelines, it qualifies for significantly lower interest rates than other crypto-backed loan products.

Crypto use in home purchases remains rare. Only 1% of buyers who made a down payment between July 2024 and June 2025 used proceeds from selling crypto, according to a National Association of Realtors survey. This product targets the 52 million Americans who own digital assets and want to leverage them without liquidating.

Why It Matters

For the mortgage industry, Fannie Mae's involvement is significant. Until now, lenders following Fannie and Freddie guidelines generally couldn't count crypto holdings unless converted to cash. Last June, the Federal Housing Finance Agency directed both agencies to develop a proposal for treating crypto as a reserve asset in single-family loan risk assessments.

Before involving crypto with their mortgage, however, buyers should understand the risks. The collateralization ratio is steep—$100,000 in Bitcoin yields only $40,000 in down payment credit—so this product is really only accessible to people with substantial holdings. And if a borrower goes 60 days delinquent on payments, Better can liquidate the pledged crypto to cover the loan. For most buyers, a traditional down payment approach will still make more sense.

What You Can Do

• Learn about investing in cryptocurrency.
• Determine the right type of mortgage for you.
• Prepare your credit before buying a house.
• Consult a financial advisor before considering a crypto-backed mortgage.

Tax Refunds Are up 11% This Year

If you got a tax refund this year, you likely got more than you expected. According to IRS filing season statistics through April 10, 2026, the average tax refund this filing season is $3,397—up 11.2% from $3,055 at the same point in 2025. The total amount refunded has climbed even faster, rising 16% year over year to $265.2 billion.

The number of refunds issued is up as well, with 78.1 million refunds processed so far compared to 74.9 million at this point last year.

One notable wrinkle is that the total returns received are actually down 2.8% compared to the same period in 2025. More money is going out to fewer filers, which suggests the average refund amount is being driven higher rather than the overall filing pool growing.

Why It Matters

For everyday Americans, a larger refund can feel like a windfall, but it's worth understanding what's behind it. A bigger refund generally means more tax was withheld from your paycheck than you owed, which is essentially an interest-free loan to the government.

That said, for people living paycheck to paycheck, a lump-sum refund can serve as a savings mechanism that's easier to manage than setting money aside each month.

However you feel about tax refunds, what matters most is what you do with the money. Putting it toward high-interest debt like credit card balances can have a big impact on your financial health. Using it to build or replenish an emergency fund is another smart move, especially given how many Americans said they lack adequate emergency savings this year.

What You Can Do

• Learn more about how tax refunds work.
• Check the status of your refund.
• Learn different ways you can put your tax refund to good use.
• Read up on tips to maximize your tax refund.

Inflation Returns to 3% Territory

According to the U.S. Bureau of Labor Statistics, the Consumer Price Index for All Urban Consumers rose 3.3% over the 12 months ending in March 2026—up sharply from 2.4% in both January and February. On a monthly basis, prices climbed 0.9% in March, the largest single-month gain in nearly four years.

The primary culprit was energy prices. The energy index surged 10.9% in March, driven almost entirely by a 21.2% spike in gasoline prices—the largest monthly increase since BLS began tracking the series in 1967. That single category accounted for nearly three-quarters of the overall monthly increase, tied to U.S.-led military action against Iran that began in late February and disrupted global oil supply through the Strait of Hormuz.

Core inflation (which strips out food and energy) was more contained, rising just 0.2% for the month and 2.6% over the year.

Why It Matters

For everyday Americans, the March report is a reminder that inflation is not fully tamed. Even if gasoline prices moderate, the ripple effects of an energy spike don't stop at the pump. Higher fuel costs feed into shipping and transportation, pushing up prices on a wide range of goods.

The Federal Reserve was already holding rates steady before this report. At its March meeting, policymakers voted to keep the federal funds rate at 3.5% to 3.75% and had quietly revised their 2026 inflation forecast upward. Rate cuts this year are looking less certain, which matters for anyone carrying variable-rate debt or waiting for mortgage rates to fall.

What You Can Do

• Learn more about inflation and how it can impact you.
• Look for the next inflation report on May 12.
• Read up on ways you can fight inflation.
• Look for ways to reduce your risks when borrowing money.

Good Credit Can Contribute to a Healthy Financial Plan

While there are aspects of your financial situation that are outside of your control, building and maintaining a good credit score can help you weather challenges and save money in the long run.

With Experian's free credit monitoring service, you'll get access to your FICO^® Score^Θ and your Experian credit report. With this information in hand, you can gauge your credit health and target areas of your credit profile that you can improve over time. And with real-time alerts whenever your report is updated, you can spot potential issues and fraud and address them quickly.