Monday’s need-to-know money news

Today’s top story: 4 mental tricks to help you save more for retirement. Also in the news: How to boost your chances of getting a personal loan, answers to your HELOC questions, and how to get your finances in order before the new year. 4 Mental Tricks to Help You Save More for Retirement Staying […]

Continue reading...

Q&A: Why you should keep credit use low

Dear Liz: You recently said you don’t need debt to have good credit, but I was told that “credit utilization” — the amount of credit you use compared with your credit limits — is important. Paying off the cards each month means zero balances are reported to the credit bureaus and result in no utilization. […]

Continue reading...

Q&A: Finding a way out from under big medical bills

Dear Liz: I am so lost. I recently became a widow at 52. My husband didn’t have life insurance. I had to grab a job two weeks after he passed. Five months later, I’m sick with late-stage congestive heart failure and can’t work. I’m barely able to pay my mortgage now with Social Security survivor […]

Continue reading...

Wednesday’s need-to-know money news

Today’s top story: Do your kids a favor and pick retirement savings over tuition. Also in the news: 18 of the best Black Friday deals, Navient’s student loan practices are under fire, and how much it costs to have a float in the Macy’s Thanksgiving Day parade. Do Your Kids a Favor: Pick Retirement Savings […]

Continue reading...

Tuesday’s need-to-know money news

Today’s top story: Having the talk about college costs with your teen. Also in the news: How the new tax law affects vacation homes, what to do when an airline loses your bag, and thinking twice before paying for accident forgiveness. Having ‘The Talk’ About College Costs With Your Teen Managing expectations. How the new […]

Continue reading...

With money goals, multitasking pays off

Tackling money goals one at a time cost financial literacy expert Barbara O’Neill at least $1 million. That’s how much O’Neill, a distinguished professor at Rutgers University, figures she lost by starting saving for retirement only after she had created an emergency fund, bought a car with cash and purchased a home. “I tell students […]

Continue reading...

Monday’s need-to-know money news

Today’s top story: Smart ways to rein in holiday spending. Also in the news: Budgeting before Black Friday to prevent costly regrets, why you should check travel prices before Black Friday, and 7 things not to buy on Cyber Monday. Smart Ways to Rein In Holiday Spending Keeping your expenses in check. Budget Before Black […]

Continue reading...

Q&A: What to do when your bank gets picky about accepting a power of attorney

Dear Liz: My husband’s brother had a stroke and is now incapacitated. My husband needs to take over his finances. The bank will not accept the durable power of attorney that they set up 14 years ago because it is “too old.” Another bank asked me if it was set up less than six months […]

Continue reading...

Q&A: When to merge 401(k) accounts

Dear Liz: I have $640,000 in a previous employer’s 401(k) and $100,000 in my new employer’s plan. Do you recommend I merge the two? Both funds offer similar investment options. My only motivation is based on simplifying paperwork during retirement, although there may be other advantages I am not aware of. Answer: The choice of […]

Continue reading...

Q&A: Many factors go into rental choice

Dear Liz: You recently answered a reader who didn’t want to keep and rent out the home she inherited with her brother. You mentioned that if he refused to buy her out, she could go to court to force a sale. Another option is to hire a property management company to provide a buffer between […]

Continue reading...