Tuesday’s need-to-know money news

Today’s top story: How to lower your monthly mortgage payment. Also in the news: 5 things to do before changing careers, a Labor Day look at America’s workforce, and 3 myths that could tank your credit score.

How to Lower Your Monthly Mortgage Payment
Taking the first steps.

Want to Change Careers? Do These 5 Things First
Preparing for change.

Hard at Work: A Labor Day Look at America’s Workforce
Where we’ve been and where we’re going.

3 myths that could tank your credit score
Don’t believe the hype.

Credit myths that need to die

YCS4 coverThe more you understand about how credit works, the more frustrated you get with how much misinformation is floating around out there. At least, that’s true for me and the three experts who joined me last week on a Google hangout to talk about “Credit myths that need to die.”

John Ulzheimer, who’s worked at Equifax and Fair Isaac, has unique insight into the credit reporting world. One thing that drives him around the bend is the persistent myth that employers use credit scores to evaluate applicants. Another myth he hates: the one about how closing accounts hurts your credit scores.

Gerri Detweiler, who writes for Credit.com and runs the DebtCollectionAnswers.com, discusses how medical debts affect your credits and debunks the myth that you need to carry balances to improve your credit scores.

Maxine Sweet heads consumer education at Experian and battles the myth that there’s just one credit score.

Take some time today to check out our discussion. You’ll come away from it a lot more informed about credit and how to make yours the best.

Friday’s need-to-know money news

My first carBusting credit myths, credit goals for 20-somethings, and the evolving list of what your home insurance will and won’t cover.

6 Credit Myths That Can Wreck Your Finances
It’s time to bust some credit myths.

10 Amazing Pieces Of Financial Advice Stuffed Into 1 Cheat Sheet
Everything you need on a simple index card.

5 Critical Financial Goals for 20-Somethings (Hint: One Goal Makes You ‘Poorer’)
With adulthood comes great financial responsibility.

5 Bad Habits of New Car Owners That Ruin a Vehicle’s Value
You’ve got to treat your new baby right.

6 Things Home Insurance Won’t Cover
Sharknado, yes. Mold, no.