Thursday’s need-to-know money news

estate planningToday’s top story: How $250 can keep families off welfare. Also in the news:A new tool to manage your student loans, what Prince can teach you about personal finance, and how to declutter after tax season.

$250 Can Keep Families Off Welfare, Study Finds
Even a small savings can have a big impact.

White House Releases New Tool to Help You Manage Your Student Loans
Finding the best repayment options.

What Prince Can Teach You About Personal Finance
A legend in music, not so great at estate planning.

With taxes done, now it’s time to shovel papers, declutter
Fire up the shredder.

Friday’s need-to-know money news

taxesToday’s top story: The biggest tax mistake Millennials make. Also in the news: The 10 best Tax Day sales and freebies, the pros and cons of paying off debt early, and how to decide how big your emergency fund should be.

The biggest tax mistakes Millennials make
Don’t overlook these deductions.

10 Best Tax Day Sales, Deals and Freebies
Making Tax Day more tolerable.

The Pros and Cons of Paying Off Debts Early
Fixing one problem could create another.

Decide How Big Your Emergency Fund Should Be With the 3-6-9 Guideline
Don’t be left in a lurch.

Monday’s need-to-know money news

returnToday’s top story: What retirees need to know about the new Social Security deadline. Also in the news: States with no income tax, tax breaks for getting older, and why you need an “Armageddon Fund.”

What Retirees Need to Know About the New Social Security Deadline
Consider your options carefully.

U.S. States With No Income Tax
In case your recent tax fillings have put you in a relocating mood.

​Get tax breaks just for getting older
With age comes wisdom AND tax breaks.

Create an “Armageddon Fund” to Save for a Major Emergency and Still Earn Interest
Your emergency fund just got scarier.

Monday’s need-to-know money news

invest-emergency-fundToday’s top story: How to build an emergency fund. Also in the news: Social Security mistakes to avoid, the best way to save for a down payment on a home, and what happens when your 401(k) gets too big?

How to Build an Emergency Fund
Creating a financial buffer.

Don’t Make These 3 Social Security Mistakes
Social Security isn’t one size fits all.

The best way to save for a down payment
Where you should keep your money before making a purchase.

Can your 401(k) account be too big?
How to avoid penalties and extra taxes.

Best Leap Day Sales and Deals of 2016
It only happens once every four years!

Tuesday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: The most important number in your financial life. Also in the news: How to get the most from a balance transfer credit card, how to build up your emergency fund, and how to audit your financial products.

The 5 Most Important Numbers in Your Financial Life
The numbers you need to know.

7 Ways to Get the Most From a Balance Transfer Credit Card
Tips to keep mind.

5 Tips to Build Up an Emergency Fund This Year
Easy tricks to fill up your emergency fund.

How to Audit Your Financial Products
Making sure your financial products are truly working for you.

One Absolute Must For Everyone Who Has An Aging Parent With Memory Problems
Protecting your parents from financial disaster.

Thursday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: Money moves that could kill your retirement. Also in the news: How to stress test your budget, how to build long-term wealth while renting, and how to prepare your parents for financing their long-term care.

9 Money Moves That Could Kill Your Retirement
Avoid these at all costs.

Stress-Test Your Budget with a “Financial Fire Drill”
Putting your emergency plan to the test.

How Renters Can Build Long-Term Wealth, Too
Investment alternatives can help.

Steps to Prepare Your Parents for Financing Long-Term Care
How to have a difficult conversation.

Wednesday’s need-to-know money news

how_to_build_an_emergency_fundToday’s top story: How to boost your emergency fund. Also in the news: What you need to worry about for retirement besides money, why you should worry about medical identity theft, and deciding when it’s time to dump your credit card.

11 Ways to Boost Your Emergency Fund
How to prepare for unexpected expenses.

5 Things to Worry About Besides Money for Retirement
There’s more to retirement planning than just money.

Medical identity theft: Why you should worry
And you thought credit theft was bad…

6 Signs You Should Dump Your Credit Card
Deciding when to cut the card.

This Simple 6-Step Routine Could Save You $30 Per Week on Groceries
An extra $1500 a year would be nice!

Tuesday’s need-to-know money news

321562-data-breachesToday’s top story: Yet another data breach hits a major retailer. Also in the news: Five costly Social Security mistakes, which tax breaks will be making a comeback in 2015, and why you should still save money even if you’re in debt.

The Kmart Data Breach: What You Need to Do
Here we go again.

Five Costly Social Security Mistakes
Avoid these at all costs.

Will Your Favorite Tax Break Be Restored?
The clock is ticking on restoration for 2015.

Why You Should Still Save When in Debt
Emergency funds are essential no matter how much you owe.

Tips for Giving Money to Needy Family Members
Making the difficult decision to say yes or no.

Thursday’s need-to-know money news

seniorslaptopToday’s top story: Personal finance tips from big data companies. Also in the news: Why more seniors are being duped out of their money, the right amount to have in your emergency savings and ten ways to best spend $1000.

Three Personal Finance Tips From Big Data
Analyzing your spending habits.

More Seniors Getting Swindled Out of Money
Preying on some of our most vulnerable

How Much Is in Your Emergency Fund?
What is your emergency sweet spot?”

We asked a palm reader and a financial adviser how to handle our money
Who came out on top?

10 Smart Ways to Spend $1,000
And possibly double your money.

Why you want an emergency fund

Dear Liz: I regularly read about people in your column who don’t feel the need for an emergency fund, or think they only need a small one. This is one of the many issues that makes me glad that my husband takes care of the finances. We are both professionals with graduate degrees who, for different reasons, were once unemployed for three months at the same time. Because we had a healthy emergency fund, we kept up with our bills with only minimal belt-tightening. If I had been in charge we would have had to flee the country to escape our creditors! That’s an exaggeration, but you get my point.

Answer: Kudos to your husband for being prudent, and to you for cooperating with him.

For most families, growing a fat emergency fund necessarily must take a back seat to more important priorities, such as saving for retirement and paying off toxic debt, including credit cards. As soon as they’re able to add to their emergency savings, though, they should do so. The average duration of unemployment stretched over five months after the recent recession. Although you may be able to live off credit cards and lines of credit, using cash is obviously better — and having that fat emergency fund can help you sleep better at night.