Wednesday’s need-to-know money news

budgetToday’s top story: How to earn more interest on your money. Also in the news: When and how to appeal a financial aid award, what you need to know about estate planning, and how keeping your finances simple can ensure you staying on top of them.

4 Ways to Earn More Interest on Your Money
Making your money work for you.

When and How to Appeal a Financial Aid Award
Asking for more.

Do I need a will? What to know about estate planning
YES.

Keep Your Finances Simple to Ensure You Stay On Top of Them
Don’t overcomplicate things.

Thursday’s need-to-know money news

interest-rates-300x225Today’s top story: How to find the best mortgage interest rate. Also in the news: How to financially prepare for a spouse’s deployment, the biggest credit card mistakes made by millennials, and where to find the best St. Patrick’s Day deals.

How to Score the Best Mortgage Interest Rate
Finding the best interest rate on a mortgage that suits your needs.

How to Plan Financially for a Spouse’s Absence
Getting your finances in order before a spouse is deployed.

The 4 biggest mistakes millennials make when it comes to credit cards
Mistakes that can have long-term consequences.

The Best St. Patrick’s Day Sales and Deals of 2016
There are deals to be found at the end of the rainbow.

Before Filing Your Taxes With IRS, Consider This
There’s such a thing as too much information.

What the Fed rate hike means to you, and your wallet

For everyone who has been saying interest rates can only go up, well – now is their time. But what does the Federal Reserve’s decision to raise interest rates actually mean for your wallet?

Probably not much for the near-term.

One small interest rate hike of one-quarter of a percentage point is unlikely to have much impact on your budget, but that does not mean you should ignore the Fed’s first rate increase since 2006.

In my latest for Reuters, what to expect as a result of the hike.

In my latest for MoneyWatch, three money resolutions for 2016 – and how to keep them.

Fed interest rate hike means it’s time to review your credit cards

Pile of Credit CardsYou may hardly notice the first Federal Reserve rate increase in nearly a decade, but it makes now a good time to consider making changes to the credit cards you use. If you carry a balance, you may be able to reduce the future cost of your debt. If you don’t, you should be looking for better rewards deals.

The Fed on Wednesday increased its benchmark short-term interest rate, which it last raised in 2006 and which has hovered around zero since 2008, 0.25 percent.

In my latest for Reuters, what this hike means for you and your credit cards.

In my latest for Bankrate, how to balance diversification and simplicity in your financial life.

Monday’s need-to-know money news

interest-rates-300x225Today’s top story: What you need to know about a potential interest rate hike. Also in the news: An education tax credit that could save you $2500, how to save money on your next vacation, and how to calculate how much you’ll lose by cashing out an old 401(k).

Rates Are About to Rise: Here’s What You Need to Know
Be prepared.

Could an educational tax credit save you $2,500 this year?
Let’s find out.

5 ways to save money on your next vacation
Alternatives to coming home broke.

This Calculator Shows How Much You’ll Lose by Cashing Out an Old 401(k)
Should you cash out?

Monday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: How to protect your credit cards online. Also in the news: Tips to avoid investing scams, moves to make before the Fed raises interest rates, and how to handle investments if you divorce.

4 Ways to Protect Your Credit Cards Online
With holiday shopping just around the corner, you can’t be too careful.

Simple steps retirees (and others) can take to avoid investing scams
If it sounds too good to be true…

5 moves to make before the Fed raises rates
It’s only a matter of time.

How to Handle Investments When You Divorce
Making sure your assets are fairly divided.

Finally Start Saving for Retirement With the Help of Your Tax Refund
Saving instead of splurging.

Friday’s need-to-know money news

Hand with money and toy car isolated on white background

Hand with money and toy car isolated on white background

Today’s top story: Tricks to help you build good credit. Also in the news: How rising interest rates will affect your investments, understanding the credit bureau differences, and what you should know before buying a new car.

3 Simple Tricks That Can Help You Build Good Credit
Improving your score a little bit at a time.

4 Ways Rising Interest Rates Will Affect Your Investments
Your savings accounts will benefit.

Why Your Credit Scores at the Three Bureaus Are All Different
Understanding the differences.

How Do Dealers Set Car Prices?
What you should know before heading into the dealership.

What a Fed rate hike will mean for your finances

percentageThe Fed’s decision to boost interest rates – when it finally happens – will not significantly impact your household budget, at least not immediately. Instead, take it as a signal to get your finances ready for the increases to come.

“It’s like the first snowfall,” said Greg McBride, chief financial analyst for Bankrate.com. “The first snowfall is not what closes roads and cancels school. But it’s a sign the seasons are changing.”

The U.S. Federal Reserve Bank typically changes the influential federal funds rate in a series of moves over time rather than all at once. The Fed’s last sequence of 17 quarter-point rate increases over two years ended in June 2006, while 10 subsequent cuts between September 2007 and December 2008 left the rate near 0 percent.

Future increases may well be more gradual given the challenges the economy faces, McBride said.

“This is going to be different than last time,” McBride said. One increase “doesn’t mean the second will be on its heels.”

In my latest for Reuters, a look at what an eventual boost in the rates will mean for your finances.

Thursday’s need-to-know money news

law-technology-podcasts-300x300Today’s top story: Seven money podcasts you should be tuning in to. Also in the news: Why your parents’ financial advisor keeps asking about you, how small business owners can prepare for an interest rate hike, and a guide to debit vs credit cards.

7 Money Podcasts You Should Be Following
Making your commute more enjoyable and profitable!

Why Your Parents’ Financial Advisor Asks About You
A different kind of inheritance.

3 Ways Small-Business Owners Can Prepare for an Interest Rate Hike
The days of zero percent interest rates could be coming to an end.

A Simple Guide to Debit vs. Credit Cards
Which is best for you?

Want to Get Out of Debt? Study Finds Best Way to Do It
Where should you start?

Tuesday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: What happens if you get caught lying on your FAFSA? Also in the news: Why your financial life is a mess, which interest rate you should choose, and the credit score every small business owner should understand.

What Happens If You Lie on Your FAFSA?
Resist the temptation.

Fixed or Variable: Which Interest Rate Should You Choose?
Which interest rate is best for you?

The Credit Score Every Small Business Owner Needs to Understand
Introducing the FICO SBSS.

Top Seven Reasons Why Your Financial Life Is A Mess
Getting your financial house in order.

If You Won’t Remember Something in a Week, Don’t Buy It
Smart advice.