Monday’s need-to-know money news

Today’s top story: 5 essential investing moves for Millennials. Also in the news: Why your tax refund is ideal for paying credit card debt, how to make sure retirement isn’t a drag, and why you need to do your homework before meeting with a financial advisor.

5 Essential Investing Moves for Millennials
Planning for the future.

Why Your Tax Refund Is Ideal for Paying Credit Card Debt
Use it wisely.

Retirement Can Be a Drag. Here’s How to Fix That
Making the most of it.

Before You Meet With A Personal Financial Advisor, Do Your Homework
Know who you’re dealing with.

Wednesday’s need-to-know money news

Today’s top story: What to do when you haven’t received your W-2s. Also in the news: When you should use your emergency fund, how overborrowing can add over $100 a month to your student loan payment, and how a millennial couple paid off $20,000 in debt in two years.

Haven’t Gotten Your W-2? Take These Steps
Getting your tax docs in order.

When You Should Use Your Financial Emergency Fund
Determining true emergencies.

Overborrowing Could Add $119 to a Typical Monthly Student Loan Payment
Only borrow what you truly need.

How This Millennial Couple Paid Off $20,000 in 2 Years
Sticking to a plan.

The never-ending car payment

Car payments have morphed from a temporary nuisance into a permanent part of many people’s budgets. Whether that’s a bad thing depends on what you do with the rest of your money.

One-third of millennial car buyers chose a lease last year, which helped push auto lease volume to a record of 4.3 million and 31 percent of all new auto purchases, according to market research by Edmunds.com.

“There is a greater percentage of people who view car ownership as a monthly payment like their cell phone or cable or Wi-Fi,” says Jessica Caldwell, executive director of strategic analytics at Edmunds.com. “It’s just the way we live our lives.”

In my latest for the Associated Press, why millennials are looking at cars the same way they look at cell phones, and the financial implications.

Friday’s need-to-know money news

hidden-fees1Today’s top story: Credit card late fees are expected to rise in 2017. Also in the news: 10 New Year’s resolutions for your wallet, will Millennials be ready for retirement, and 3 signs you should switch banks.

Look for Credit Card Late Fees to Rise in 2017
More incentive to pay on time.

Sean Talks Money: 10 New Year’s Resolutions for Your Wallet
Starting the news year off on the right foot.

Only 30 Years to Go. Will Millennials Be Ready for Retirement?
The clock is ticking.

3 Signs You Should Switch Banks in 2017
Knowing when it’s time to switch.

Wednesday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: 4 ways you can protect your credit score over the holidays. Also in the news: Giving Tuesday and beyond, why you should think twice before grabbing certain Black Friday deals, and the used cars with the best discounts on Black Friday.

4 Ways You Can Protect Your Credit Score Over the Holidays
Monitoring is key.

Giving Tuesday and Beyond: How Millennials Like to Contribute
Bucking against the self-centered stereotype.

Think twice before grabbing this Black Friday deal
It’s all in the wording.

The Used Cars With the Best Deals on Black Friday
Used car shopping on Black Friday? Why not!

Monday’s need-to-know money news

stack-of-billsToday’s top story: Why minimum payments on credit cards are designed to keep you in debt. Also in the news: Retirement planning rules Millennials can break, how to choose the right health insurance plan “metal tier,” and why it’s so hard to stick to a budget.

Credit Card Minimums: Perfectly Calibrated to Keep You in Debt
The card companies aren’t on your side.

4 Retirement Planning Rules Millennials Can Break
Or at least bend.

Choosing the Right Health Insurance Plan ‘Metal Tier’
Sadly, no rose gold.

Why Is It So Hard to Stick to a Budget?
Answering the age-old question.

Q&A: Job hopping can be a good strategy for young workers

Dear Liz: I am a millennial and just started a new job at a very small company. I really like the work I do and the leaders of the company. However, I don’t make enough to move out of my parents’ home and be financially secure. I live in the Washington, D.C., area and make $50,000. For an entry-level position it’s a good salary, but this area is so expensive. I wanted to stay at this company for at least two years to add stability to my resume. Now I’m considering moving to a cheaper area so I can move out on my own and not face a financial strain. But I don’t want to be a millennial job hopper, and I don’t want to disappoint my boss.

Answer: Being a millennial job hopper can actually be a good thing in the long run. A 2014 study for the National Bureau of Economic Research found that people who switch jobs more often early in their careers have higher incomes later in life. Economists Martin Gervais, Nir Jaimovich, Henry Siu and Yaniv Yedid-Levi contend that young job-changers are more likely to find their true calling, which leads to greater productivity and higher income. Sticking with one job can mean settling for paltry raises, while changing jobs can mean bigger jumps in pay.

Changing locations, meanwhile, can be a powerful way to boost your standard of living. Living on a below-average income in a city with above-average costs can be a recipe for misery, so congratulations on being willing to explore alternatives. Since you’re living in one of the costliest cities in the U.S., those alternatives include most of the U.S.

The good news is that you have a job and a place to live, so you can take your time searching for what’s next. In the meantime, you can build up your savings to help pay for the move.

As for disappointing your boss, understand that most bosses are grown-ups. They realize that people can and do move on to better opportunities.

Monday’s need-to-know money news

hidden-fees1Today’s top story: Costly financial fees you might not know you’re paying. Also in the news: Why Millennials love auto leasing, ten smart money moves that take ten minutes or less, and why nearly 7 in 10 Americans have less than $1,000 in savings.

Costly Financial Fees You Might Not Know You’re Paying
A closer look at hidden fees.

Why Millennials Love Auto Leasing
Does it make financial sense

10 smart money moves to make that take 10 minutes
Take ten minutes to get closer to your goals.

Nearly 7 in 10 Americans have less than $1,000 in savings
Where do you stand?

Friday’s need-to-know money news

o-CREDIT-REPORT-facebookToday’s top story: How to buy your kid a good credit score. Also in the news: What keeps us awake at night, what low-income families lose by not having bank accounts, and finance lessons Baby Boomers could learn from Millennials.

How to Buy Your Kid a Good Credit Score for $200
Starting them off on the right foot.

Money, Safety and Privacy Keep Us Awake at Night
What we worry about when we try to sleep.

Low-Income Families Are Most Likely to Skip the Bank Account — and Pay the Price
Losing interest and protection.

5 Finance Lessons Baby Boomers Could Learn From Millennials
Taking advice.

Friday’s need-to-know money news

155403-425x282-Mortgage-LateToday’s top story: Bouncing back after foreclosure. Also in the news: How to piece together the perfect bank, handling the financial consequences of millennials living at home, and a parents guide to insurance for college students.

How to Bounce Back After Foreclosure
Getting through a trying time.

How to Piece Together the Perfect Bank
Ticking all the boxes.

How to Handle the Financial Consequences of Millennials Living at Home
Don’t sacrifice your retirement.

A parents guide to insurance for college students
Evaluating your insurance needs as your child goes to college.