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Tuesday’s need-to-know money news

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Today’s top story: Why your parents’ money guru may not be right for you. Also in the news: Home loans with 3% down for 2018, what hotel credit card upgrades mean for your bottom line, and how the student loan grace period works.

Your Parents’ Money Guru May Not Be Right for You
Striking out on your own.

HomeReady and Home Possible: Loans With 3% Down for 2018
What you need to know.

What Hotel Credit Card Upgrades Mean for Your Bottom Line
Sweet new perks.

How the Student Loan Grace Period Works
Interest will still accrue.

How to reset retirement plans to weather a downturn

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The older the current bull market gets, the more stories you’re likely to read about how this is an awful time to retire.

Yes, we’re due for a correction that trims 20 percent or more from stock values. That could be a big problem for people taking withdrawals from investment portfolios, since market losses early in retirement increase the chances of running short of money.

The answer isn’t to cower in fear, but to plan for the inevitable downturns. In my latest for the Associated Press, actions to make your money last.

Monday’s need-to-know money news

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Today’s top story: How to stretch your spending money in college. Also in the news, 4 places to find last-minute scholarships, why your house is not a piggy bank, and 6 financial microhabits that can make you rich.

How to Stretch Your Spending Money in College
Making it last week-to-week.

4 Places to Find Last-Minute Scholarships
You still have (a little bit of) time.

Your House Isn’t a Piggy Bank
Don’t treat it like one.

6 Financial Microhabits That Can Make You Rich
Even the tiniest habit can make a difference.

Wednesday’s need-to-know money news

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Today’s top story: 3 simple things anyone can do to stay out of debt. Also in the news: Summer is the perfect time for a financial checkup, how to ace back-to-school shopping, and how stashing receipts saved one man over $1000 in 7 months.

3 Simple Things Anyone Can Do to Stay Out of Debt
Knowing your limits.

Summer Is the Perfect Time for a Financial Checkup
Checking your financial health.

Ace Back-to-School Shopping With 6 Smart Moves
Starting the school year off right.

How stashing receipts saved one man over a $1,000 in 7 months
Hold on to every single one.

Tuesday’s need-to-know money news

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Today’s top story: 5 times to stash your cash and pay with plastic. Also in the news: Chase switches to Expedia for its online travel, how to use autopay to boost your bottom line, and a guide to borrowing money from friends and family.

5 Times to Stash Your Cash and Pay With Plastic
Good for extra protection.

Chase Switches to Expedia to Power Its Online Travel Portal
More choices and flexibility.

How to Use Autopay to Boost Your Bottom Line
It could even help save for retirement.

A Guide to Borrowing Money From Friends and Family
How to handle that awkward conversation.

Your house isn’t a piggy bank

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Your home equity could keep you afloat in retirement or bail you out in an emergency — but not if you spend it first.

U.S. homeowners are sitting on nearly $6 trillion of home value they could tap as of May 2018, according to data provider Black Knight. Lenders are eager to help many do just that through home equity loans, home equity lines of credit and cash-out refinancing.

The rates are often lower than other kinds of borrowing, and the interest may still be deductible, despite last year’s tax reform changes. But you can lose your home to foreclosure if you can’t pay back the loan, which is why financial planners generally frown on using equity for luxuries, investing or consolidating credit card debt.

Many planners point to the foreclosure crisis that started a decade ago as an example of what can go wrong when people binge on home equity debt.

In my latest for the Associated Press, why it’s dangerous to treat your house like a piggy bank.