Tuesday’s need-to-know money news

Today’s top story: The latest trends in home renovations and how to pay for them. Also in the news: 4 tips for starting or restarting a business in tough times, student loan forgiveness scams, and key 2021 financial deadlines to add to your calendar. The latest trends in home renovations—and how to pay for them […]

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Monday’s need-to-know money news

Today’s top story: How to get the most home insurance help after a winter storm. Also in the news: A new episode of the Smart Money podcast on filing your taxes early and tapping into your home equity, 8 ways to take your credit card rewards to the next level in 2021, and how to […]

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Q&A: Don’t rush to start collecting Social Security

Dear Liz: Having read your advice on Social Security numerous times, I’m having a heck of a time encouraging a friend who reached full retirement age last year to start collecting her benefits. She said her Social Security isn’t enough to live on and she needs to work two more years before collecting. She said […]

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Q&A: How much debt can you afford to pay each month? Put it in perspective

Dear Liz: I’m paying down credit card debts. At what ratio of debt to income would you consider my personal finances healthy? Answer: The healthiest level of credit card debt is none. Credit card interest rates tend to be high and variable, which makes this kind of debt toxic to your financial health. Congratulations for […]

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Friday’s need-to-know money news

Today’s top story: Turn your quarantine clutter into money. Also in the news: 10 digital banking services changing up checking, what to do when you’re a victim of debit card fraud, and how your stimulus checks will affect your taxes. Turn Your Quarantine Clutter Into Money What to do if you went a little overboard. […]

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Thursday’s need-to-know money news

Today’s top story: Why you may not want to be an executor. Also in the news: 5 ways to foil catalytic converter thieves, 3 money habits to carry forward from the pandemic era, and how to avoid fees when paying your taxes. Why You May Not Want to Be an Executor Settling someone’s estate can […]

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Wednesday’s need-to-know money news

Today’s top story: Debit card fraud? Act fast to protect your money. Also in the news: How a data nerd tackled buying a house, popular 2021 home upgrades and how to pay for them, and when you don’t need to buy travel insurance. Debit Card Fraud? Act Fast to Protect Your Money When dealing with […]

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Why you don’t want to be an executor

Being asked to be an executor is an honor you might want to pass up. Settling an estate typically involves tracking down and appraising assets, paying bills and creditors, filing final tax returns and distributing whatever’s left to the heirs. At best, the process is time-consuming. At worst, it takes hundreds of hours, exposes you […]

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Tuesday’s need-to-know money news

Today’s top story: Why buying life insurance for your parents can make financial sense. Also in the news: A new episode of the Smart Money podcast on the 50/30/20 budget, one person’s no-spending month results, and when to hire a tax professional. Why Buying Life Insurance for Your Parents Can Make Financial Sense Life insurance […]

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Q&A: Emergency fund: How big?

Dear Liz: You recently advised a teacher who was inquiring about paying down student debt. You suggested among other things to “have a substantial emergency fund before you make extra payments on education debt (or a mortgage, for that matter). ‘Substantial’ means having three to six months’ worth of expenses saved. If your job is […]

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