Understanding the relationship between the economy and your personal finances is the first step toward financial security. Let’s break down what you need to know about the current economic climate in the United States.

The Battle Against Inflation

The Federal Reserve (often called “The Fed”) has one primary tool to cool down a heating economy: raising interest rates. When inflation—the rising cost of goods and services—gets too high, the Fed increases rates to make borrowing more expensive. This slows down spending, which eventually helps bring prices back down.

For the average American, this is a double-edged sword. While it aims to make your groceries and gas cheaper in the long run, it changes the rules of the game for your debt and savings.

What High Rates Mean for Borrowers

When interest rates rise, the cost of carrying debt increases almost immediately.

1. Mortgages: If you are looking to buy a home, higher rates mean higher monthly payments. A 1% or 2% difference might seem small, but over a 30-year loan, it can cost you hundreds of thousands of dollars in interest.
2. Credit Cards: Most credit cards have variable annual percentage rates (APRs). As the Fed raises rates, your credit card interest likely goes up, making it harder to pay off balances.
3. Auto Loans: Financing a new car becomes more expensive, potentially pushing buyers toward used vehicles or smaller models.

The Silver Lining: Savings and Yields

It’s not all bad news. While borrowers struggle, savers often win. How interest rates affect your money in a positive way is most visible in your bank account.

For the first time in over a decade, High-Yield Savings Accounts (HYSAs) and Certificates of Deposit (CDs) are offering significant returns. If you have an emergency fund, now is the time to ensure it is sitting in an account that pays a competitive rate. Many online banks are currently offering 4% to 5% APY, allowing your money to grow passively while you sleep.

Strategic Moves to Make Now

To navigate this environment, financial experts suggest three key moves:

• Pay Down High-Interest Debt: Prioritize credit card balances before rates climb further.
• Lock in High Savings Rates: If you have extra cash, consider a CD to lock in today’s high yields for the next year or two.
• Review Your Budget: As the cost of living fluctuates, ensure your “needs vs. wants” ratio is still aligned with your long-term goals.

The economic landscape is always shifting, but staying informed puts you in the driver’s seat. By understanding how interest rates affect your money, you can make smarter decisions about when to borrow, when to save, and how to protect your financial future against inflation.

Whether you are looking to automate your savings, invest your spare change, or get cashback on everyday purchases, the right financial technology can make a world of difference. In this guide, we will explore the top-rated FinTech tools that can help you take control of your financial future.

1. High-Yield Savings Accounts (HYSA): SoFi & Ally

The foundation of any wealth-building strategy is a solid savings account. Traditional “big banks” often offer measly interest rates. However, FinTech leaders like SoFi and Ally Bank provide High-Yield Savings Accounts (HYSA) that offer rates significantly higher than the national average.

By moving your emergency fund to these platforms, your money works harder for you through compound interest. Most of these apps also come with “buckets” or “vaults” to help you visualize different savings goals.

2. Automated Budgeting: Rocket Money

If you’ve ever wondered where your money goes at the end of the month, Rocket Money (formerly Truebill) is a game-changer. It is widely considered one of the best FinTech tools for saving money because it identifies recurring subscriptions you might have forgotten about.

Rocket Money can negotiate your cable or internet bills and provides a clear breakdown of your spending habits. This transparency allows you to cut unnecessary costs and redirect that cash into your savings.

3. Micro-Investing for Beginners: Acorns

Many people believe they need thousands of dollars to start investing. Acorns debunks this myth with its “Round-Ups” feature. Every time you swipe your linked debit or credit card, Acorns rounds up the transaction to the nearest dollar and invests the difference into a diversified portfolio.

It’s a “set it and forget it” tool that turns your spare change into a long-term investment strategy. For US users, this is an effortless way to enter the stock market without financial stress.

4. Cashback and Rewards: Rakuten & Upside

Why pay full price when you can get money back? For online shoppers, Rakuten is the gold standard. By clicking through their portal before shopping at stores like Walmart, Target, or Nike, you earn a percentage of your spend back in cash.

For those concerned about rising gas prices, Upside is a must-have app. It offers cashback on fuel and groceries at thousands of locations across the US. Using these tools consistently can save the average household hundreds of dollars per year.

5. Smart Investing and Trading: Robinhood

For those who want more control over their portfolio, Robinhood remains a top contender. With commission-free trades for stocks, ETFs, and options, it has democratized access to the financial markets. Their user-friendly interface is perfect for the modern American investor who wants to manage their wealth on the go.

How to Choose the Right FinTech Tool for You?

When selecting the best FinTech tools for saving money, consider the following factors:

• Security: Ensure the app uses bank-level encryption and is FDIC-insured (for banking apps).
• Fees: Look for “no-fee” or “low-fee” options to ensure your savings aren’t eaten up by monthly charges.
• User Experience: A tool is only useful if you actually use it. Choose apps with intuitive interfaces.

Mastering your finances in 2028 is about leveraging the power of technology. By integrating these best FinTech tools for saving money into your daily routine, you can automate your path to financial freedom. Start with one or two apps that fit your immediate needs—whether it’s cutting subscriptions or earning cashback—and watch your net worth grow.

The good news? The digital landscape is bursting with opportunities that don’t require a 9-to-5 commitment. From leveraging your creative skills to performing simple tasks, here are the most lucrative ways to pad your bank account this year.

1. Freelance Your Skills on Upwork or Fiverr

If you have a knack for writing, graphic design, coding, or digital marketing, freelancing is one of the best side hustles to make money online. Platforms like Upwork and Fiverr connect you with clients globally. Many US-based freelancers command rates of $30–$100 per hour depending on their expertise.

2. Become a Virtual Assistant (VA)

American business owners are busier than ever. As a Virtual Assistant, you help entrepreneurs manage emails, schedule appointments, and handle social media. This is a perfect remote role that offers flexibility and a steady stream of income.

3. High-Ticket Affiliate Marketing

Affiliate marketing remains a powerhouse for passive income. By promoting products you love and earning a commission on every sale, you can build a scalable business. Focus on “high-ticket” items (expensive products) to ensure your commissions are worth the effort.

4. Sell Digital Products on Etsy

You don’t need physical inventory to make it big on Etsy. Digital downloads—such as budget planners, Canva templates, or printable wall art—are booming. Once the product is created, it becomes a passive income machine that makes money while you sleep.

5. Online Tutoring and Coaching

Are you an expert in math, music, or a foreign language? Platforms like VIPKid or Chegg Tutors allow you to share your knowledge with students worldwide. With the rise of remote learning, online tutoring has solidified its place as one of the best side hustles to make money online.

6. User Testing for Websites and Apps

Companies like UserTesting.com will pay you to visit a website or app and speak your thoughts out loud. A typical 20-minute test pays $10, and it’s an incredibly easy way to make extra cash in your spare time without any specialized skills.

7. Content Creation (YouTube and TikTok)

While it takes time to build, content creation is the ultimate “modern” side hustle. With the TikTok Creativity Program and YouTube AdSense, creators are turning hobbies into six-figure incomes. Focus on a niche you are passionate about to build a loyal audience.

How to Succeed with Your Side Hustle

To truly succeed with the best side hustles to make money online, consistency is key. Don’t try to do everything at once. Pick one method that aligns with your skills, dedicate 5–10 hours a week, and watch your earnings grow.

The best time to start was yesterday; the second best time is today. Which of these side hustles will you try first?

To build a resilient portfolio that stands the test of time, one must look past the daily headlines and anchor their strategy in these foundational pillars.

1. Strategic Asset Allocation: The Only “Free Lunch”

Modern Portfolio Theory suggests that the mix of assets within your portfolio is the primary determinant of long-term returns. When implementing wealth management strategies, balancing domestic equities (S&P 500) with international exposure and fixed income is essential.

The goal is not to maximize returns in a single year, but to achieve a superior risk-adjusted return. By maintaining a diversified portfolio, you ensure that the failure of one sector does not derail your entire financial future.

2. The Silent Edge: Tax Efficiency and Cost Management

In the U.S. financial landscape, what you keep is more important than what you earn. Professional investing requires a deep understanding of tax-advantaged accounts:

• Tax-Advantaged Vehicles: Maximizing contributions to 401(k)s, Roth IRAs, and HSAs is the cornerstone of efficient wealth building.
• The Impact of Fees: High management fees can erode up to 30% of a portfolio’s potential value over decades. Shifting toward low-cost index funds and ETFs is a proven method to increase net returns.

3. Protecting Purchasing Power Against Inflation

A key component of modern wealth management strategies is the defense against inflation. Cash is often a depreciating asset in a high-inflation environment. To preserve purchasing power, investors should consider:

• Equities and Real Estate: Historically, these assets have outpaced inflation over long horizons.
• TIPS (Treasury Inflation-Protected Securities): These provide a direct hedge by adjusting the principal in line with the Consumer Price Index.

4. Behavioral Finance: Overcoming the Human Element

The greatest threat to a well-constructed portfolio is often the investor’s own psychology. Behavioral biases—such as loss aversion and FOMO—frequently lead to buying high and selling low.

A professional approach involves creating an Investment Policy Statement (IPS). By having a written set of rules for rebalancing, you replace emotional reactions with systematic discipline, ensuring that your wealth management strategies remain objective even when the markets are volatile.

5. Compounding and the Horizon Principle

Time is the most powerful lever in finance. The “Horizon Principle” dictates that the longer your capital remains deployed, the more the mathematical miracle of compounding can work in your favor. Data consistently shows that missing just a few of the market’s best-performing days can lead to significantly lower lifetime wealth. Professionalism in investing is defined by time in the market, not timing the market.

Investing is not a game of chance; it is a rigorous discipline of probability and patience. By focusing on asset allocation, tax efficiency, and emotional control, you can implement wealth management strategies that transcend the noise of Wall Street and build a legacy of enduring value.

If you are ready to stop stressing about money and start building wealth, incorporate these four high-impact practices into your daily life.

1. Define Your Financial “North Star”

You wouldn’t start a road trip without a destination, and your finances should be no different. Whether it’s saving for a down payment on a house in the suburbs, funding your child’s 529 plan, or ensuring a comfortable retirement, you need specific goals.

The Strategy: Break your goals into short-term (under a year) and long-term (5+ years) categories. Having a clear “Why” makes it much easier to say no to impulsive purchases today.

2. Master the Art of “Thinking Ahead”

A budget is more than just tracking what you spent yesterday; it’s about planning for what’s coming tomorrow. Even if your monthly bills are covered, “hidden” expenses like annual car registrations, home maintenance, or holiday shopping can derail your progress.

The Strategy: Use “Sinking Funds.” Set aside small amounts of your net income each month for these non-monthly expenses. When the bill finally arrives, you’ll have the cash ready, keeping your stress levels at zero.

3. Respect the “Cash-Only” Rule for Lifestyle Spending

In a world of “Buy Now, Pay Later” and high-interest credit cards, it’s easy to live beyond your means. Falling into the trap of carrying a balance leads to a cycle of high interest and mounting debt that is notoriously difficult to break.

The Strategy: If you can’t afford to pay for a non-essential item in cash today, you can’t afford it. Use credit cards for their rewards and security, but only if you can pay the statement in full every month. Managing money effectively means making your money work for you, not for the bank’s interest margins.

4. Leverage the Power of Compound Interest

When it comes to saving, time is your greatest ally. The “magic” of compound interest means that the earlier you start, the less “heavy lifting” you have to do later in life.

Bonus Tip: The Importance of an Emergency Fund

Beyond the four habits mentioned above, one of the most critical components of effective money management is the creation of an emergency fund. Financial experts typically recommend saving three to six months’ worth of living expenses. This fund acts as a financial safety net, ensuring that an unexpected medical bill or job loss doesn’t force you into high-interest debt.

By combining an emergency fund with your new money management habits, you create a dual layer of protection for your wealth. Start small—even saving $500 can make a significant difference when life throws a curveball. Consistency is the key to long-term financial resilience.

Saving for college is a state of mind. That’s the (simplified) takeaway from new research on 529 college savings plans.

Researchers at the University of Chicago found what they described as a “striking paradox at the heart of America’s college affordability crisis”: Financial constraints do limit what parents can stash away in a 529 account, but behavioral barriers may be just as critical as economic ones.

In fact, in one part of the study, the researchers found that 61% of parents who could save enough to pay for half of their child’s future college costs didn’t think their savings would be “meaningful.”

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The findings show that “there’s more that needs to be done in explaining the value-add of these plans… and helping parents make better financial decisions for their kids,” says economist Guglielmo Briscese, who coauthored the study.

College savings plans, also called 529 plans, are investment accounts that offer tax-free growth and withdrawals if you use the money for qualified expenses. In some states, you can also get an income tax break to sweeten the deal further.

While these plans were originally designed to help pay for higher education, the list of qualified expenses has expanded in the past decade to include K-12 private school tuition and student loan debt.

Americans hold more than $500 billion in roughly 17 million 529 accounts, according to the College Savings Plan Network. Yet surveys of parents consistently show that the accounts are underutilized, with many parents reporting they don’t know much — or anything — about how 529 plans work.

Lack of financial literacy is a major barrier

For the study, the researchers surveyed a representative sample of parents in Illinois, narrowing in on the roughly 70% of respondents who said they were not saving in a 529 account.

When asked about their concerns regarding the accounts, “I couldn’t save enough money to meaningfully reduce the cost of higher education” was either the first or second most commonly cited response across income levels.

To dig in further, the researchers asked the parents how much they could afford to put into a savings account each month if they were using a 529 plan. They then compared how much the parents would be able to save over the years with the expected cost of college at the time their child would turn 18.

That’s where they discovered how frequently parents underestimated their own savings. In addition to the 6 in 10 parents who thought their savings would not cover a meaningful amount — even though they could potentially save up to half of college costs — 66% of parents who could save enough to cover between one-third and one-half of college expenses also saw their potential savings as meaningless.

The researchers chalk up the discrepancy to gaps in financial literacy. Parents may not be fully grasping fundamentals such as the power of compound interest — “You have to save a lot less if you start earlier,” Briscese says. And they may lack more nuanced information about college financing.

“We find a strong and significant correlation between low levels of financial literacy and a high likelihood of underestimating the future cost of college, underestimating how meaningful their monthly contributions can be and also overestimating the financial aid probability amount,” he remarks.

Other misconceptions about how 529 plans work were also critical factors. A majority of parents cited the burden of paperwork associated with opening an account, even though it takes just 10 minutes, Briscese says.

Another persistent misunderstanding is how money in 529 plans is treated in financial aid formulas. Parents frequently think saving will hurt their chances at getting a scholarship, and the researchers found that was a common concern among this population of parents, too. The reality? Money in 529 accounts does reduce your child’s financial aid eligibility — but only by 5.64%. That means for every $10,000 saved in a 529 plan, you could lose up to $564 in financial aid.

All of these barriers to opening an account held fairly steady across income groups, which suggests that a common criticism of 529 plans — that they primarily benefit the wealthy — isn’t quite true, Briscese says.

And when there were differences by income groups, the barriers for wealthier parents were still significant. About two-thirds of parents earning under $150,000 cited not having enough money as a reason for not saving in a 529 plan, but even among parents earning above that amount, 46% cited similar challenges with financial constraints.

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Why poor uptake and use of 529 plans matter

In addition to surveying parents, the researchers also looked at data from more than 900,000 529 accounts in Illinois, where they found behaviors linked to financial literacy resulted in some “suboptimal saving strategies.”

For example, although the state of Illinois allows individuals to deduct up to $10,000 in 529 contributions from state income taxes, the more common annual contribution was $1,200. This suggests parents may be depositing $100 a month for simplicity’s sake, rather than figuring out either how much they can actually afford or how much they need to save based on projected college costs.

In another example, parents who set up automatic deposits — typically a smart move — rarely changed their deposits over time, meaning they didn’t update the frequency or amount. This resulted in lower cumulative savings in the long run.

“Just because you have parents who overcome the administrative hurdle of opening an account, you should not assume that they are set for life and that they are making the best decisions for themselves and for their kids,” Briscese says, adding that the researchers’ findings show the need for financial education both in opening an account and in helping parents make the most of it.

This is also the first study that actually links 529 data to educational outcomes for hundreds of thousands of students. Even after controlling for income, that data shows that higher savings in a 529 is correlated with “improved educational outcomes including four-year college enrollment, attendance at selective institutions and pursuit of postgraduate degrees.”

With so much focus today on college affordability and the burden of student debt, it’s critical to try to help parents understand how useful a 529 plan can be, Briscese says.

“Every dollar you save in a 529 plan today will be more than a dollar less that your kid will have to take out in student loans in the future,” he says.

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Hackers gained access to sensitive information on millions of Americans in a data breach targeting TransUnion, one of the nation’s big three credit bureaus.

TransUnion confirmed an unauthorized “cyber incident” happened on July 28, affecting over 4.4 million people, according to legal disclosures filed this week with the offices of attorneys general in Maine and Texas. Names, Social Security numbers and dates of birth were among the stolen information, according to the Texas filing.

Both states require companies to disclose data breaches that impact their residents, though only a portion of the people affected by the TransUnion hack live in those two states.

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Details are scarce. In a statement to Money, TransUnion said “the incident involved unauthorized access to limited personal information for a very small percentage of U.S. consumers,” adding, “we are working with law enforcement and have engaged third party cyber security experts for an independent forensics review.”

As of press time, TransUnion had not made any public announcements about the data breach on its website, but the company told Money that it is notifying affected costumers.

In the Maine filing, TransUnion said it began sending out letters notifying people affected by the breach on Tuesday.

“We recently experienced a cyber incident involving a third-party application serving our U.S. consumer support operations,” a sample letter reads. “We regret any concern caused by this incident and take seriously the responsibility to help secure consumer information.”

TransUnion told Money that the leak did not involve its “core credit database or include credit reports” and that the company “identified and contained this event within hours.” The credit bureau is offering two years of free credit monitoring services (provided by Cyberscout) to those impacted, according to the letter.

The TransUnion hack is the latest in a series of major breaches. Just this week, Google urged 2.5 billion Gmail users to reset their passwords after it was hacked by a group called ShinyHunters. The hackers targeted the corporate software company Salesforce, which works with many high-profile clients, and impersonated staff to gain access to more data at other companies.

Insurance firm Allianz and telecom giant AT&T were also targeted by the group. While the TransUnion letter mentions the hack involved a “third-party application” and not its core database, it’s not clear whether this leak is tied to ShinyHunters’ Salesforce operation.

Separately, in May, the consumer data broker LexisNexis, which works closely with the credit bureaus, disclosed a data breach that affected more than 360,000 people. Social Security numbers, driver’s license numbers, addresses and dates of birth were leaked in that cyber attack.

So far, 2025 has been particularly brutal for data breaches and identity theft. As of June 30, the Federal Trade Commission said it had received nearly 750,000 identity theft complaints, putting 2025 on track to be one of the worst years on record.

How to check if your information was stolen

While TransUnion said it began sending letters this week to people who were affected, it’s not clear when everyone will receive them — or if the bureau will send out other types of alerts.

To check if you were impacted, you can contact TransUnion directly by calling its fraud assistance line at 1-800-516-4700. The call center is open Monday through Friday, 8 a.m. to 8 p.m. Eastern time.

Another way to spot identity theft is to review your credit reports for suspicious activity that you did not authorize. At the federally authorized AnnualCreditReport.com, you can receive credit reports from all three credit bureaus every week online for free. There’s no need to pay to check your credit report.

Unofficial, online tools such as DeHashed or Have I Been Pwned can help check whether your email account has been associated with any known breaches, as well.

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What to do if your information was leaked

If your data was leaked, that doesn’t automatically mean your identity has been stolen. You should, however, be on high alert and keep a close eye on all of your financial accounts.

Fraud experts previously told Money that you should consider taking these key steps: Delete your old accounts to limit your points of exposure; sign up for credit monitoring (especially if TransUnion offered you two free years); and change all of your passwords.

You can also notify your banks, credit card companies and other financial institutions that your data has been leaked and that they should monitor accounts for suspicious activity.

Even if you haven’t experienced identity theft yet, experts often recommend that you freeze your credit as a preventative measure. (This, too, is free; all you have to do is request a freeze online from TransUnion, Equifax and Experian.) That way, if your identity is stolen, thieves won’t be able to open new credit cards or take out loans in your name. Whenever you need to apply for a new line of credit, you can briefly unfreeze it, then freeze it again.

There are also plenty of free resources available, including those from nonprofits like Identity Theft Resource Center, which can help you screen for potential scams — or recover from them — at no charge. The Federal Trade Commission also has extensive resources at identitytheft.gov.

More from Money:

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What to know about background checks

• Nearly one in every three adults have some form of a criminal record according to the National Conference of State Legislatures. This highlights why employers and landlords are increasingly relying on background checks to screen candidates.
• Only some types of background check are regulated by the Fair Credit Reporting Act (FCRA), which places limits on the kind of information that you can obtain on others.
• People search sites can be a useful tool for finding relatives or doing reverse phone searches. For background checks on potential employees, domestic workers, or tenants, you’ll need to work with an FCRA-compliant company.
• Social media background checks have become a more common part of the recruitment process for many employers despite the ethical and privacy concerns surrounding them.

How we chose our top picks

Our editorial team draws on its extensive knowledge and experience in the background check industry to independently assess screening companies. We evaluated over 40 data points across 20 vetted background check companies to ensure readers have accurate and helpful information about this type of service.

Read the full methodology below to learn more.

Our top picks for the best background check sites

People search background check sites

Unlike FCRA-compliant companies, these background search sites cannot be used for employment or tenancy purposes. You can, however, use them to conduct personal searches.

FCRA-compliant background screening sites

The following background screening sites all comply with FCRA regulation on consumer reporting agencies, namely the information they can provide and what it can be used for. This means you may use them for employment and tenancy purposes.

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Why we chose it: TruthFinder offers highly detailed reports that cover a wide range of information, from personal assets to criminal records and employment history. Its intuitive app with a straightforward interface makes starting new searches and viewing existing reports easy.

Although the service only offers monthly plans — you won’t be able to pay for one-off reports — the price of TruthFinder’s services is slightly below that of other background check memberships. And for an additional $3.99/mo, it also lets you download reports as PDFs and monitor reports online for updates to their information.

It bears mentioning that TruthFinder was one of two background check sites which were penalized by the Federal Trade Commission in 2023 for deceiving users about the accuracy of their reports and violating FCRA guidelines. Although it has been some time since, this is something to keep in mind as you consider the companies on our list.

Reports may include: first and last name, known aliases, physical address, photos, social media profiles, location history, associated persons, related persons, birth information, phone numbers, email addresses, employment history, educational history, possible associates, business ownership, assets, criminal records, traffic records, court records.

*See disclaimer below for more information.

Why we chose it: Instant Checkmate offers unlimited searches, making it ideal for anyone who needs to conduct background checks regularly. It’s especially thorough when it comes to criminal information, featuring search functions for inmates and traffic, criminal and arrest records.

Another highlight of the platform is its streamlined interface that makes navigation easy — both on browsers and on the handy mobile app. On the other hand, Instant Checkmate’s lack of single-report purchase option means it isn’t as cost-effective for those who only need occasional searches.

Like TruthFinder, Instant Checkmate was penalized by the Federal Trade Commission in 2023 for deceptive business practices and breaking FCRA guidelines. This isn’t necessarily a deal breaker — both companies were placed under monitoring by the FTC — but it’s worth considering while choosing a background check site.

Reports may include: birth information, photos, phone numbers, social media profiles, email addresses, address history, employment history, educational history, business ownership, assets, criminal records, traffic records, court records.

*See disclaimer below for more information.

Why we chose it: BeenVerified does VIN and license plate lookups, which provide valuable insight into a car’s past, including accidents, market value, recalls, warranty and ownership history. This makes it a go-to option for used car buyers, automotive professionals and others who may need to run a vehicle history check.

Like other popular background check sites, BeenVerified also features a mobile app to search people, phone numbers, emails and physical addresses. However, it also offers an app specifically for carrying out vehicle checks, making it even easier to keep track of several car records at once.

While the platform is excellent for vehicle searches, it offers less detailed reports in other fields. It’s also easy to miss that BeenVerified’s membership costs $32.89/mo, not $1 or $5 (which are only the price of its 7-day membership for the “Casual” and “Plus” trial plans, respectively).

Reports may include: full name, date of birth, city/state history, phone numbers, email addresses, photos, possible relatives and associates, traffic records, criminal records, court proceedings, litigation history, bankruptcy proceedings, education history, employment history, business associations, social media platforms, blogs and websites.

*See disclaimer below for more information.

Why we chose it: Unlike the other people finding services on our list, Spokeo lets you pay per individual search instead of forcing you into a subscription. This makes it considerably more affordable (and convenient) than the competition for occasional searches. And if you happen to need a large volume of reports, its $29.95/month membership isn’t expensive compared to other sites.

But Spokeo’s affordability comes at the cost of depth. Its reports are broad, but not as detailed as those of more premium services — they lack detail in criminal history and financial records, for example — and the platform’s short turnaround times can sometimes backfire, leading to inaccuracies.

Reports may include: names, aliases, phone numbers, email addresses, birth information, marital status, education level, hobbies and interests, current and past addresses, nearby residents, neighbors, property records, lifestyle data, investments, estimated salary, family members, household demographics, social media profiles, usernames, dating sites, music and gaming accounts. Criminal records, DUIs and sex offenses also available for an additional fee.

*See disclaimer below for more information.

*DISCLAIMER: You may not use the non-FCRA approved service mentioned in this article or the information it provides to make decisions about consumer credit, employment, insurance, tenant screening, or any other purpose that would require FCRA compliance. This service doesn’t provide consumer reports and is not a consumer reporting agency. (These terms have special meanings under the Fair Credit Reporting Act, 15 USC 1681 et seq., (“FCRA”), which are incorporated herein by reference.)

The information available on this website may not be 100% accurate, complete, or up to date, so do not use it as a substitute for your own due diligence, especially if you have concerns about a person’s criminal history. The service doesn’t make any representation or warranty about the accuracy of the information available through their service or about the character or integrity of the person about whom you inquire. For more information, please review the service’s Terms of Use.

All product names, logos, brands, trademarks and registered trademarks are property of their respective owners.

Why we chose it: Backgrounds Online checks all the marks when it comes to a great screening service — comprehensive reports, transparent pricing, position-specific searches, and advanced solutions for compliance, to name a few.

For custom packages, Background Online provides an à la carte experience. You can choose between 22 options as you are guided by a dedicated account manager. Moreover, the platform can sync applicant tracking systems (ATS) with its internal web application, which allows you to request checks while providing the necessary information that is available in its database.

As for compliance, the Applicant Self-Submittal feature allows the people you screen to see and approve all necessary compliance documents. Then, Backgrounds Online produces a report for you to make more informed hiring decisions.

Why we chose it: Checkr hosts a variety of dynamic compliance features, including candidate assessment, online adverse action and individualized assessment tools. These tools streamline the recruitment process, which is otherwise rife with regulatory requirements that change frequently and vary region to region.

Background checks are not only a headache for hiring teams, but can also expose your company to compliance risks — violations and litigation can cost a business millions. Checkr’s “compliance engine” combats this by keeping employers updated with evolving regional laws.

The platform also features fast report turnaround times thanks to its AI-powered technology that clarifies and categorizes adverse findings but also estimates processing times. Unfortunately, this has led to some claims of inaccurate results, and the lack of phone support might make it hard to corroborate this with the Checkr. But overall, the company’s commitment to compliance makes it a standout choice for businesses looking to mitigate hiring risks.

The options listed above are only valid for businesses that run less than 300 background checks per year. Custom packages are available for those that run more.

Why we chose it: TransUnion SmartMove was designed for tenant screenings first and foremost. With specialized tools like the ResidentScore — a number that predicts the likelihood of eviction — property managers are able to process potential renters more efficiently.

SmartMove pulls credit data directly from TransUnion, providing accurate financial insights into a potential tenant’s history. The platform’s criminal records and eviction reports help give a fuller picture of an applicant’s risk level, while its pay-per-report pricing model keeps the service free until you decide to fully process an applicant.

One of SmartMove’s standout features is that landlords don’t have to pay for reports — they can ask applicants to cover the cost instead during the process. And although customization options and on the platform are limited, the system is easy to use. Reports are generated quickly, which can help property owners make informed leasing decisions without extensive delays.

Why we chose it: GoodHire’s combination of affordability, ease of use and compliance support makes it a more accessible option for professional background screening. Said options cover a wide range of industries — from IT and banking to healthcare and nonprofits — or can be picked out to target only specific roles you need filled.

GoodHire also comes with several pre-integrated ATS and human resources information systems, such as FCRA compliance tools and adverse action workflows. Compliance tools are especially helpful for smaller organizations to mitigate the potential legal risks associated with employment background checks.

Another highlight of GoodHire is its interface, both on browsers and on its mobile app. The platform’s dashboard provides results and status updates at a glance, with more urgent information clearly visible from the get-go. And your candidates can view their results in the same simple, mobile-optimized format available to you.

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What you need to know about background checks

Background checks are not one, but multiple processes that are undertaken to investigate a person’s past. These involve looking through public and private records for personal information, from personal identifiers like age, physical address and social media profiles, to more sensitive data, such as your social security number, credit history and criminal record.

People carry out checks for a number of reasons. You may want more information on your new next-door neighbor, for example, or to verify that your date really is who he claims to be.

Alternatively, special background checks known as consumer reports may be used by employers or landlords to evaluate potential candidates and tenants. The same goes for people looking to hire domestic workers — including cleaning professionals and nannies.

You can do a background check by going to a website like Instant Checkmate or TruthFinder and providing a name, phone number and/or other common identifiable information. You can even do a check on yourself! Doing so will show you what others would see when looking up your profile on one of these sites — and let you dispute any inaccurate information on you.

Types of background check searches

Broadly speaking, there are two types of background checks: those that comply with FCRA guidelines on consumer reports, and those that do not. The latter are often called “people search websites” because the information found there cannot be used for the purpose of hiring employees or tenancy. Using them this way could lead to serious legal consequences.

The following are popular types of searches, reports or screenings that you might see on a background screening website and what they entail.

1. People search, reverse phone lookups, email lookups and address lookups are all types of simple background checks that are typically offered by non-FCRA compliant services. They often provide the same data on a person — the information you input serves as a “key” to find their profile on a platform’s database.
2. Criminal background checks involve looking through watchlists, sex offender registries, and court records at the county, state, national and federal level for evidence of a criminal history, such as misdemeanors, sanctions and felonies.
3. Verifications mostly focus on two fields: employment and education. Employment verification consists of obtaining information about someone’s professional history to confirm their resume or job application is accurate. Education verification works much the same way, but by looking for information on someone’s credentials or degree.
4. Position specific searches are useful for verifying that a candidate for a job post has the necessary qualifications. For example, you may request a drug screening for a federal position, or a motor vehicle record search if you are hiring drivers.
5. International reports cover different types of background check but are performed to vet people coming from other parts of the world.

These background checks may be offered as individual services or as part of a larger package of services.

Methodology

To pick the best background check services, we reviewed 20 background check companies based on over 40 data points grouped under the following categories:

Cost

We compared the prices of each background check platform, taking into account whether the service worked on a per-report basis or as a subscription service (or both). Price isn’t the end all be all — you get what you pay for, after all — but we favored companies with lower individual reports costs, less fees and a wider variety of plan tiers for those that had membership options.

Features

For basic background checks, or people search sites, we listed and compared the types of information each company includes in its identity verification profiles or reports, including full names, age, email, physical address and other personal identifiable information.

We did the same for FCRA-compliant services, but also considered the breadth of their individual report types, such as criminal reports, driving record checks, employment verification reference checks and drug testing. We favored companies that offered a greater number of these in addition to industry packages and add-ons like global watchlist searches.

Reputation

Many companies in the background checks industry have been the subject of legal actions, mostly relating to privacy. We carefully evaluated lawsuits found during our searches and highlighted those that were particularly relevant to consumers or involved regulatory violations. Do note that this research is not based on a comprehensive review of court records.

Customer experience

We evaluated each background check site’s user interface on web browsers and mobile apps (when applicable) to determine if they were easy to navigate and provided key information useful to consumers. Then, to see what customers had to say about each company we researched and read customer service reviews on the Better Business Bureau’s site.

Summary of our top picks

People search background check sites

FCRA-compliant background screening sites