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Liz Weston

Thursday’s need-to-know money news

August 1, 2013 By Liz Weston

Detroit stationDebt collectors are spying on creditors through social media, what consumers can learn from Detroit, and is it time to become the boss?

Are Debt Collectors Stalking You Online?
That friend request you just accepted might not be someone interested in playing Candy Crush with you.

3 Personal Finance Lessons Learned From Detroit’s Bankruptcy

Control your debt before it takes control you.

6 Ways to Prepare for Unexpected Financial Events
Expecting the unexpected could be the thing that pulls you through.

5 Basic Money Errors Retirees Make
From giving away money to relatives, to not keeping a budget, these mistakes can tarnish your golden years.

Making the Jump to Self-Employment
Are you ready to become your own boss?

Filed Under: Liz's Blog Tagged With: collections, debt, debt collectors, disasters, emergency preparedness, emergency savings, Retirement, self-employment

Wednesday’s need-to-know money news

July 31, 2013 By Liz Weston

Zemanta Related Posts ThumbnailGetting a mortgage with bad credit, busting financial myths, and how to survive back-to-school shopping with your teenager.

How to Get a Mortgage With Bad Credit

Buying a home is still possible even with bad credit.

7 Personal Finance Myths That May Have Fooled You

Mythbusting, finance style.

5 Financial Decisions That Sound Smart But Are Really Dumb
What sounds good at that time could be bad in the long run.

How to Avoid New Bank Fees
Tips on avoiding the ever growing list of bank fees.

How to Handle Back-to-School Shopping With Teens
Back-to-school shopping with your teen doesn’t have to be a nightmare.

Filed Under: Liz's Blog Tagged With: back to school, banking, Credit, mortgage

How to deal with your debt

July 31, 2013 By Liz Weston

Zemanta Related Posts ThumbnailDebt may be a four-letter word, but it’s not necessarily the enemy. Some debts are much, much worse than others, and knowing which to tackle first can leave you richer.

That’s the central idea of my book “Deal with Your Debt,” and I go into more detail in this interview with Experian’s Mike Delgado. (Also, you’ll get a great view of one of our bedrooms…I couldn’t get my laptop to cooperate with Google Hangout, so I had to resort to the desktop.)

We covered a bunch of topics, including:

  • What you need to know about getting, and paying off, student loans
  • Why retirement has to be your top financial goal (yes, even ahead of paying off debt)
  • What debts to tackle first and
  • When to consider filing for bankruptcy

…and much more.

Filed Under: Liz's Blog Tagged With: Bankruptcy, Budgeting, college costs, college students, Credit Cards, Credit Scores, debt, debt reduction, pay down debt, Retirement, retirement savings, Student Loans

Zero waste: our progress so far

July 30, 2013 By Liz Weston

Garbage dumpA few weeks ago I wrote about how the “zero waste” movement had inspired me to look for ways to cut back on the garbage our family generated. I’m not aiming to eliminate all the waste. I’m looking for ways to be a bit gentler on the planet while, hopefully, saving money and not adding inordinately to my workload. Turns out there are plenty of ways to do that.

Here’s what has happened so far:

The composter’s in place. I bought this beauty for $20 from the City of Los Angeles, and got a worm bin for an additional $5. (The worm bin is basically a plastic tote with a few holes drilled in the top.) Then I bought an attractive little bin to sit on my countertop for another $20. Nope, the little bin wasn’t at all necessary, but it’s easier to use than the large plastic peanut butter jar with a screw-top lid it replaced…and it looks a heck of a lot better sitting out in the open. My husband’s an artist, and he’s taught me to consider aesthetics at least occasionally.

The little bin holds about 12 cups of food scraps, vegetable peels and other kitchen waste, and I empty it into the composter at least every other day. That’s a lot of garbage being redirected to a better use.

This is also getting me to think more about ways to cut back on kitchen waste, particularly on food that’s not getting eaten. That’s meant more consistent meal planning and using up leftovers, which helps reduce our grocery bill.

The reusables are getting used. I bought a reusable plastic cup with lid and straw from Starbucks and keep it in the car along with a commuter mug. So far, all the places I’ve asked—Jamba Juice, coffee joints, even fast food restaurants—have been fine with letting me use my own cup instead of one of their disposable versions. This doesn’t save me any money (well, maybe 10 cents at Starbucks) but it doesn’t cause much inconvenience, either. Ditto for the reusable shopping bags, which now live (mostly) in the car rather than scattered throughout the house.

I’m giving props to my city. I had a vague idea that Los Angeles was recycling more stuff than in the past, but the list has gotten amazingly long—way longer than in many other communities I’ve read about. In addition to the usual suspects of glass, paper, aluminum and plastic, LA recycles:

  • Styrofoam containers
  • Wire and plastic hangers
  • Drink cartons (for juice, wine, milk, heavy cream…you name it)
  • Plastic bags (including grocery and dry-cleaning bags)
  • Aerosol cans (with the plastic tops removed)lastic toys
  • Plastic toys
  • All aluminum, tin, metal and bi-metal cans
  • Clean aluminum foil
  • Clean film plastic

I’m still looking for ways to reduce the volume of what we discard (more on that in a later post), but for right now I’m pleased that a lot more stuff can go into the blue recycling bin and a lot less into the black trash bin. Again, no big savings that I can see, but also no inconvenience encountered.

If you’ve found ways to reduce waste and save money, I’d love to hear about them!

 

Filed Under: Liz's Blog Tagged With: saving money, zero waste

Tuesday’s need-to-know money news

July 30, 2013 By Liz Weston

School Kids DiversitySaving on back-to-school shopping, tool to make managing your money easier, and what you need to do financially when your marriage comes to an end.

Be Smart on Back-to-School Shopping
How to fill their backpacks without emptying your wallet.

8 Money Tools You Should Try
8 tools to make managing your money much easier.

How To Reduce Your Debts Without Spending Unnecessarily
You shouldn’t have spend money to get out of debt.

Save Your Way to $1 Million Dollars
It might be easier than you think!

We’re Getting A Divorce, Now What?
Ways to protect yourself financially when your marriage comes to its end.

Filed Under: Liz's Blog Tagged With: back to school, back-to-school shopping, couples and money, debt reduction, Debts, Divorce, money tools, saving money

Survivor benefits: what you can expect

July 29, 2013 By Liz Weston

Dear Liz: Two years ago, I elected to start my Social Security benefits early, at age 62. My current benefit is $1,350 per month. My spouse, currently working, will be turning 62 next year and is also planning to take an early retirement benefit because of health issues. Her benefit is expected to be slightly more than my benefit at that time. If she dies before me, what can I expect to collect from Social Security as the spouse of someone who started benefits early?

Answer: If your wife dies before she begins receiving Social Security, your survivor’s benefit would be based on what’s known as her “primary insurance amount.” That’s the amount she would receive at full retirement age (which is 66 for those born between 1943 and 1954; after that, full retirement age increases gradually to age 67 for those born in 1960 or later).

Once she begins benefits, though, your survivor’s benefit is based on what she’s actually getting. So if she receives a reduced benefit, your survivor’s benefit is reduced as well. It would be further reduced if you, as a widower, begin taking survivor’s benefits before your own full retirement age.

You would not be able to get your own benefit plus a survivor’s benefit if your wife should die, by the way. You would get the larger of the two, but not both.

Filed Under: Q&A, Retirement Tagged With: Social Security Administration, Social Security benefits, survivors benefits

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