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Liz Weston

Friday’s need-to-know money news

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Today’s top story: Is it okay to never have a credit card? Also in the news: How to organize important documents simply and safely, can a credit card company lower your credit limit, and how to try and prevent your eviction.

Is It OK to Never Have a Credit Card?
Using credit cards responsibly is one way to build your credit history — but it’s not the only way.

How to Organize Important Documents Simply and Safely
What you should keep and for how long.

Can a Credit Card Company Lower My Credit Limit?
Cardholders are seeing an increase in reductions.

How to Try and Prevent Your Eviction
23 million renting families could lose their homes by September 30.

Thursday’s need-to-know money news

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Today’s top story: Probate workarounds can save your heirs time and money. Also in the news: Student loan refi rates keep dropping, which airline you should fly in 2020 (and beyond), and how to know if you should refinance your mortgage.

Probate Workarounds Can Save Your Heirs Time and Money
There are often workarounds to help get assets to heirs, but avoiding probate isn’t the right move for everyone.

Student Loan Refi Rates Keep Dropping, Should You Take the Plunge?
The advertised minimum fixed interest rate on refinanced student loans dropped to an average of 3.51% on July 1.

Ask a Points Nerd: Which Airline Should I Fly In 2020 (and Beyond)?
Flying has become a lot more complicated.

How to Know if You Should Refinance Your Mortgage
Mortgage rates continue to drop.

Wednesday’s need-to-know money news

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Today’s top story: Which airline has the most valuable elite status program. Also in the news: A look at summer homebuying, 25 tips for buying your first home, and how to automatically transfer your 401(k) money when you change jobs.

Which Airline Has the Most Valuable Elite Status Program?
The best perks and how to earn them.

Summer Homebuying: Tips for Pricey Homes and Pandemic Concerns
Know your market.

25 Tips for Buying Your First Home
How to avoid a money pit.

How to Automatically Transfer Your 401(k) Money When You Change Jobs
Introducing auto portability.

Tuesday’s need-to-know money news

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Today’s top story: Options for undergrad, grad, veteran and international students when colleges say stay home. Also in the news: Which airlines have handled COVID-19 the best, is it OK to never have a credit card, and where to put your money when interest rates are falling.

When Colleges Say Stay Home: Options for Undergrad, Grad, Veteran and International Students
You can expect a decrease in costs.

Which Airlines Have Handled COVID-19 the Best?
Grades on flexible policies and health and safety measures.

Is it OK to never have a credit card?
Other ways to establish credit.

Where to Put Your Money When Interest Rates Are Falling
Consider an online savings account.

Probate workarounds can save heirs time, money

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A reader recently reached out after his elderly mother died, asking how soon he could distribute the $10,000 she had earmarked in her will for each of her two grandchildren.

Because she lived in California, I had to break the bad news: He won’t be able to hand over the money any time soon.

Probate is the court process to distribute someone’s estate after their death, even if there is a will, and is notoriously slow in California. A typical probate takes nine to 12 months, and court shutdowns related to COVID-19 mean the wait could be longer. Probate is also expensive in California: By law, an attorney could charge $11,000 in fees to handle the woman’s $400,000 estate.

In my latest for the Associated Press, what to keep in mind if you’re trying to decide whether to make the investment to spare your heirs the expense and hassle of probate.

Monday’s need-to-know money news

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Today’s top story: 5 reasons why people get personal loans and what financial advisers say about them. Also in the news: A new episode of the SmartMoney podcast on creating wealth, 5 secrets of car buying from a former undercover car salesman, and how to lower your tax bill with these last-minute moves.

5 reasons people get personal loans—and what financial advisers say about them
The pros and cons.

Smart Money Podcast: Taxes Are Due, and How to Get Started Creating Wealth
You can still create wealth in a pandemic.

5 Secrets of Car Buying, From a Former Undercover Car Salesman
Even the playing field.

Lower Your Tax Bill With These Last-Minute Moves
You still have time.