Ask Liz Weston

Q&A: Here’s a 2024 resolution: Stop using paper checks. Fraud is soaring

Dear Liz: I had several checks stolen from the U.S. Postal Service. The thieves altered and cashed the checks. I monitor my bank accounts religiously and discovered the altered checks quickly. I immediately put holds on the checks and for the most part I have been reimbursed. One check, however, was written out to one bank […]

This week’s money news

This week’s top story: January mortgage rate forecast. In other news: 4 things that could impact your credit in 2024, the new 2024-25 FAFSA, and how to pay for promising medications like Ozempic. January Mortgage Rate Forecast: Steady While Waiting for Spring Mortgage rates might not change much in January, after going through a tumultuous spell toward […]

Overspent in December? Here’s how to battle the January blues

The first workday in January after the holidays hits a little bit differently: The parties are over, debt payments are soon due and it can feel like there’s nothing to look forward to. You may be able to minimize the doldrums with some planning and other steps to turn things around, financial experts say. “Financial […]

Q&A: What is financial infidelity? And what should you do about it?

Dear Liz: My sister is married to a man who is considerably older. They’ve been married for eight years. He has cancer and the outlook isn’t good, but he refuses to discuss their financial status. As a result, she has no idea what’s going on. How can she force him to tell her their financial situation? […]

Q&A: Should you close a credit card?

Dear Liz: You recently wrote about how closing credit cards can hurt your credit scores. I’m wondering what impact closing a business credit card would have on my personal credit score. For many years I have been working in the film industry under contracts with my personal services loan-out company. My company has two credit cards, including a […]

This week’s money news

This week’s top story: Should you use your home or car as collateral for a credit card? In other news: 5 financial new year’s resolutions for 2024, airline that has been the most reliable in 2023, and to cash a check at any bank or check-cashing service. Should You Use Your Home or Car as Collateral for […]

Q&A: Distributing funds from inherited IRAs

Dear Liz: You have referenced the relatively new 10-year rule that sets a deadline for distributing money out of an inherited IRA. You mentioned that surviving spouses are one exception to that rule. Aren’t there others? Answer: Yes. The 10-year rule applies to IRAs of those who die after Dec. 31, 2019. Most non-spouse inheritors must empty an inherited […]

Q&A: What is a ‘qualified higher education expense’ for 529 college savings plans?

Dear Liz: We are tapping our child’s 529 college savings plan for the first time and are confused on what qualifies as a “qualified higher education expense.” Obviously tuition counts, but what about other fees, such as student body fees, health insurance coverage and tuition insurance? We’re also trying to figure out how much we can withdraw to […]

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