Monday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: Five changes lawmakers have made to your taxes for 2015. Also in the news: Keeping your low-down-payment mortgage affordable, why using a Roth IRA to pay for college could work against you, and three reasons why you can’t stick to a budget.

5 Major Changes Lawmakers Made to Your Taxes
Getting ready for 2015.

How to Keep a Low-Down-Payment Mortgage Affordable
How to handle PMI.

Using a Roth IRA to Pay for College May Work Against You
Your child’s financial aid package could take a hit.

3 reasons why you just can’t stick to a budget
Besides being human.

Retailers’ data breaches could get ‘ugly’
More like ‘uglier’.

Friday’s need-to-know money news

crop380w_istock_000009258023xsmall-dbet-ball-and-chainToday’s top story: How to decide which debts you should pay off first. Also in the news: Financial topics you should never discuss at work, a key tax move you need to check before the end of the year, and how to offer financial advice to your adult kids.

Which Debts Should You Pay Off First?
How to develop a strategic pay off plan.

3 Financial Topics You Should Never Discuss at Work
Keep these conversations off-limits.

Don’t Let December End Without Looking at This Key Tax Move
Preparing for 2015 taxes.

How to Offer Financial Advice to Your Adult Child
Approaching a difficult conversation.

Plan Out a Year of Life as a Retiree To Jump-Start Your Saving
Giving your savings a boost in the right direction.

4 In 5 Millennials Optimistic For Future, But Half Live Paycheck To Paycheck
A look at the financial lives of millennials.

Wednesday’s need-to-know money news

budgetToday’s top story: Time to start getting your finances ready for 2015. Also in the news: How to give yourself a holiday bonus, protecting yourself and your credit from “Santa Scams”, and an end-of-the-year financial checklist.

15 tips on turning your finances around in 2015
Start getting ready.

Give Yourself (not Uncle Sam) a Christmas Bonus
Time to look at your W-4.

Santa Claus Is Coming… for Your Credit Cards
Watch out for the Letters From Santa scam.

Your End-of-Year Financial Checklist
Starting 2015 off on the right foot.

3 Reasons Why You Just Can’t Stick to a Budget
And how to fix them.

Tuesday’s need-to-know money news

retirement-savings3Today’s top story: Seven financial moves to make before New Year’s Eve. Also in the news: When you should use your credit card instead of your debit card, what to do when you’re 40 and have nothing saved for retirement, and busting four common myths about taxes.

7 Financial Moves to Make Before New Year’s Eve
Preparing yourself for 2015.

6 Times You Should Use a Credit Card Instead of a Debit Card
Credit cards can provide more protection.

What to Do When You’re 40 and Have Nothing Saved for Retirement
Don’t panic.

5 Ways to Combat an Online Shopping Addiction
Tips to combat a growing problem.

4 Common Myths About Taxes
Time for some tax mythbusting.

Monday’s need-to-know money news

shutterstock_62636899Today’s top story: Why debt doesn’t have to ruin your holiday season. Also in the news: How time can heal your credit wounds, where you’ll have to pay sales tax on Cyber Monday, and how to protect yourself from charity fraud during the holidays.

Don’t let debt ruin your holiday season
Manage and reduce your debt while still enjoying the holidays.

Time heals all wounds when it comes to credit
Time and responsibility are the best remedies for credit bruises.

On Cyber Monday, Will You Have to Pay Sales Tax?
It all depends on where you live and where you shop.

How to protect yourself against charity fraud during the holidays
Don’t let thieves take advantage of your generosity.

How Information Overload Can Hurt Your Retirement
Take small bites instead of big chunks.

Friday’s need-to-know money news

AirfaresToday’s top story: How to find the best airfare deals. Also in the news: Financially preparing for a job search, how “reason codes” can help improve your credit, and ten money moves to make before the end of the year.

3 Insider Tips for Getting the Best Airfare Deal
How to get the best possible deal on flights.

Preparing Financially for a Job Search
Three tips to help you survive the hunt.

Pay Attention to Credit Report “Reason Codes” to Improve Your Score
These codes can help you improve your credit.

10 Smart Money Moves to Make Before the Year Ends
Don’t put off your finances until the new year.

Want to Pay Off Your Mortgage Early? Not So Fast
Why you should carefully consider where your money should go.

Flight delays? Lost luggage? Your credit card may help

Zemanta Related Posts ThumbnailHundreds of flights have already been cancelled on this busy travel day, with more cancellations and delays likely to come as a winter storm rolls through the East Coast. If you used the right credit card to book your trip, though, you may be entitled to some compensation.

Most cards offer some kind of travel protection, but some of the policies are pretty weak, even for high-end cards. Some only offer compensation for lost baggage, while others offer hundreds of dollars in compensation for trip delays–and thousands for trip cancellations.

The Chase Sapphire Preferred card, for example, is justifiably famous among savvy travelers for its generous delay and cancellation protection: If your trip is canceled or cut short by illness, severe weather and “other covered situations,” can can be reimbursed up to $10,000 for prepaid, nonrefundable expenses. You can get up to $500 for trip delays and a whopping $3,000 for lost luggage. (Many other cards limit lost luggage reimbursement to $500.) Other high-end Chase cards, along with The United Explorer Visa Platinum Card, offer similar top-drawer benefits.

Citi recently stepped up its game, and now offers card members refunds for trip expenses if unforeseen events like severe weather, jury duty or even previously unannounced strikes cause trip cancellations. The coverage is limited to $1,500 for most cardholders, though some get up to $5,000. Those with ThankYou Premier or Citi Prestige can get up to $500 to buy clothes and toiletries if their bags are delayed. If a trip is delayed, these travel rewards card members also can get up to $500 for unplanned expenses such as hotel rooms, ground transportation and meals.

Travel cards that you think would have pretty good protection–such as American Express or Capital One Venture–unfortunately don’t. Amex offers travel protection for an extra cost and CapOne covers just lost or stolen luggage (although the limit is $3,000).

If you’re affected this weekend by travel hassles, call and ask the credit card company that you used to book the trip what your options might be. If you don’t like what you hear, start looking for a better alternative for your next trip.

 

 

Wednesday’s need-to-know money news

air-miles-cardToday’s top story: The best airline miles credit cards. Also in the news: Behind the scenes of a student loan deal, how to prioritize your bills when you’re low on cash, and five items to donate for a charitable tax deduction.

The Best Airline Miles Credit Cards in America
Getting the most mileage bang for your buck.

How a Little Student Loan Deal Could Spell Big Trouble for Borrowers
The ghosts of FFEL loans.

How to Prioritize Bills When You’re Low on Cash
Paying in the right order could save you time and money.

5 Items to Donate for a Charitable Tax Deduction
Every little bit healps.

An IRS impersonator just called me

Customer Support liarHere’s the voicemail he left me (in a rather heavy Indian accent):

“I am Jonathan Knight and I am calling you from the federal investigation department of IRS. My badge number is 46719. The matter at the hand is extremely time sensitive and urgent as after audit we found that there was a fraud and misconduct on your taxes which you are hiding from the federal government. This needs to be rectified immediately so do return the call as soon as you receive the message on my direct line number. And this is Jonathan Knight again federal investigation department of IRS.”

I was really rather bummed that I’d let this particular gem go to voice mail. Oh, the fun I could have had with this idiot! Here’s me, pretending to be all scared and upset…drawing him in, getting him all excited about the money he was going to scam from me…and then Boom! Telling him exactly what I thought of his morals, his conduct, his parentage and what bug he’ll be incarnated into the next go-round.

I did call the number back and got a different gentleman with an Indian accent on the line (with the noise of a call center in the background). He called himself “Chief Ray Parker” and told me that “complete audits” of my tax returns from 2002 to 2012 had turned up “errors and miscalculations” and that the government was going to the courthouse to file a lawsuit against me within two hours. When he demanded to know if I had a lawyer and I said yes, though, he didn’t seem to know what to say next, and hung up on me. So I didn’t get to unleash at all.

The IRS says this a pervasive, aggressive scam that’s hitting taxpayers all over the country. The scammers alter their caller ID to make it look like it’s coming from a Washington D.C. number and may know a lot about the people they’re calling. Unfortunately, too many people take the bait and give up sensitive personal information or even money to these scoundrels.

Just as a refresher: the IRS typically contacts taxpayers by letter, not by phone, particularly if an audit is involved. If the IRS thinks you owe money, it will let you know and give you some time to make payment arrangements. Oh, and by the way, the IRS is one of the few creditors that doesn’t need to go to court to get a wage garnishment.

If you get one of these calls, report it to the Treasury Inspector General for Tax Administration (TIGTA) at 1.800.366.4484 or at www.tigta.gov. Even if you don’t, tell your parents and grandparents about this since older people may be more vulnerable to these kinds of scams.

Tuesday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: How to prepare for a credit check. Also in the news: What you should include in your long term care plan, how to avoid holiday shopping scams, and why you should purchase renters insurance before the holidays.

How to Get Ready for a Credit Check
Three steps to help you prepare.

4 Things to Include in Your Long-Term Care Plan
Planning for a long life.

Consider Buying Renters Insurance Before the Holidays
Accidents are more common around the holidays.

Beware of Holiday Shopping Scams, FBI Warns Consumers
Beware of too good to be true deals.

Top 10 Reasons to Give Thanks to Your Financial Advisor
In the spirit of Thanksgiving.