Tuesday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: How to avoid the 10 most common student loan mistakes. Also in the news: Finding the essential facts on your social security statement, using targeted savings to achieve your financial goals, and how to save money on utilities as the hot weather approaches.

The 10 Most Common Student Loan Mistakes
Learning how to avoid them.

5 Essential Facts on Your Social Security Statement
Where to find these important pieces of information.

How to Use Targeted Savings to Achieve Goals
Using subaccounts to save for specific things.

5 Ways You Can Save Money on Your Utility Bills
Preparing for air conditioning season.

Refinance Wisdom: Should You or Shouldn’t You?
With interest rates expected to creep up, is now the time to refinance?

Monday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: Money tips for new college grads. Also in the news: Lying to yourself about finances, the pros and cons of auto financing, and ranking the 50 states for retirement.

Money tips college graduates can use
Welcome to the real world!

3 Financial Fibs You Tell Yourself
Paying off debt and building your savings aren’t mutually exclusive.

Auto Financing vs. Paying in Cash: What Are the Costs and Benefits?
Evaluating present vs future costs.

Report ranks best, worst states for retirement
Where does your state rank?

What You Should (and Shouldn’t) Overlook During an Open House
You can always change the paint.

Friday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: The student loan deadlines you need to know. Also in the news: What to do if you haven’t saved for your kid’s college, a retirement check list for baby boomers, and how getting in shape could help your wallet.

3 Student Loan Deadlines Everyone Needs to Know
Missing these deadlines could become costly.

Eight Tips for Parents Who Have Saved Nothing for College
Hope is not completely lost.

Here’s What Needs to be on Every Boomers’ Retirement Check List
The important things you need to watch.

How to Spring Clean Your Budget: Start With Your Health
Get your body and your wallet in shape.

Does Taking Early Social Security Hurt Your Spouse?
Taking social security early could have a big impact on your spouse.

Is it time for you to get unstuck?

Getting UnstuckBob Sullivan’s excellent book, “The Plateau Effect,” is finally out in paperback with a new, snazzier title: “Getting Unstuck: Break Free of the Plateau Effect.”

Co-written with technology entrepreneur Hugh Thompson, “Getting Unstuck” covers what to do when hard work stops working. Whether it’s advancing in your career, trying to lose weight or building relationships, a plateau can leave you stranded putting in more effort while achieving less.

The book has already garnered a lot of attention. The Miami Heat used it last year on their way to a second NBA championship. It was featured on the cover of O! Magazine and in the Wall Street Journal.

But a lot more people need to discover and read this book. Understanding how the plateau effect works can help you stop wasting time and effort, and start getting better results.

 

Thursday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: Saving money on your summer travel plans. Also in the news: Disappearing inheritances, creative college financing, and the hidden costs of moving.

6 ways to score deals on summer travel
Planning ahead could save you money.

Why You May Not Get An Inheritance (And What To Do About It)
You know that saying about counting chickens before they hatch?

Outside-the-Box Financial Strategies to Pay for College
Thinking outside the loan box.

The Hidden Costs of Moving
You’re going to need boxes, packing tape and a whole lot of cash.

Helping Gen Y Declare Their Financial Independence
Escaping the debt-ridden 20’s.

Wednesday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: Distinguishing between good and bad debt. Also in the news: How to fly for free, reducing your post-retirement cost of living, and protecting yourself from buying a lemon of a home.

When Your Student Loan Debt Shouldn’t Be Your First Priority
Learning the differences between good and bad debt.

How Our Family of 3 Will Fly Free for the Next 2 Years
It’s all about the points.

5 Ways to Reduce Your Post-Retirement Cost of Living
While reducing your stress at the same time.

Protect Yourself from Buying a Lemon of a Home
Don’t buy a money pit.

5 reasons to try a 2-week spending freeze
Give your savings a jump start.

Tuesday’s need-to-know money news

Zemanta Related Posts ThumbnailToday’s top story: Are you being charged too much for your 401(k)? Also in the news: Teaching your kids about money, using your tax refund to pay down debt, and tips that will make next year’s tax filing a breeze.

Is Your Small-Company 401(k) Charging Too Much?
How much are you paying in fees?

3 Everyday Events That Can Teach Your Kids About Money
It’s never too early.

Use tax refund to reduce your debt
While not as fun as a new TV, it pays off in the long run.

Tips to Make Your Taxes Way Easier Next Year
Anything to make taxes less stressful.

13 Times Being Cheap Could Cost You More
The high price of trying to save money.

Can you submit too many college applications?

Zemanta Related Posts ThumbnailI only applied to one college, and I opted for early decision. There’s no way I’ll let my daughter do the same thing.

Recognizing how much the world has changed is key to getting our kids launched right. These days, a half dozen applications may not be enough, as I write in this week’s Reuters column, “How many college applications is too many?” College consultants say there’s a rising level of unpredictability to admissions, which means you may want more than two safety schools, two matches and two reaches.

One issue I didn’t get into for lack of space was the public vs. private school aspect. Private school students typically have access to counselors who are essentially dedicated to getting them into good colleges. These counselors usually stay up to date not only on colleges’ statistics but also on their changing needs (that is, what they’ll be recruiting for next year). Private schools often subscribe to services like Naviance, which help students see exactly where they stand relative to the stats (GPA, class rank, test scores) of a college’s existing student body. With intel like that, private school students (and families who hire private consultants who offer the same services) can get a pretty good idea at where they have a good shot at getting in and where they don’t.

Public school students, by contrast, may be assigned a counselor who has 400 other kids in her caseload plus duties that have nothing to do with college admissions. Families may be on their own in trying to figure out where to apply.

The good news is that most colleges still accept most applicants–the Ivies and other highly selective colleges are a small fraction of the total number of higher learning institutions in the U.S. Also, there are sites such as Lynn O’Shaughnessy’s The College Solution and CollegeData.com to help sort through the options.

Still, if you’re not getting help in winnowing down your application list, it can make sense to err on the side of applying to too many colleges rather than too few.

Monday’s need-to-know money news

homebuyerToday’s top story: How long you should work to max out your social security benefits. Also in the news: What your student loans are really costing you, 9 common financial myths, and paying close attention to closing costs.

Social Security Benefits: How Long Should You Work to Max Them Out?
Determining your magic number.

Are Your Student Loans Costing You More Than You Think?
Find out what you’re really paying.

9 Common Money Myths
How many do you believe?

Watch Out for These Closing Costs When Buying a Home
Don’t pay more than you have to.

Quiz: Are you smart enough to buy a home?
Do you have what it takes to become a homeowner?

Social Security statements make a comeback

Zemanta Related Posts ThumbnailUntil a few years ago, Social Security sent annual statements to just about everybody who was still working to let them know what they could expect to receive in retirement, survivor and disability benefits (minus a 25% or so haircut if Congress never gets its act together to fix the system). Those statements got axed by budget cuts, but now Congress wants them resumed.

Here’s the scoop from Reuters columnist Mark Miller:

Starting this September, the Social Security Administration (SSA) will resume mailings at five-year intervals to workers who have not signed up to view their statements online, an agency spokesman told Reuters. The statements will be sent to workers at ages 25, 30, 35, 40, 45, 50, 55 and 60, he said, adding the agency would continue to promote use of the online statements.

We won’t be getting these in the Weston household, since we signed up for online accounts. (If you decide to go that route, note that some people have had trouble setting up their Social Security accounts because they have security freezes on their credit reports at Experian, the bureau that Social Security uses to verify identity. Investment News columnist Mary Beth Franklin says you’ll have to unfreeze your report, or visit a Social Security office in person with a government-issued ID to set up an online account.)

Social Security tends to be a pretty vague concept for most people until they start closing in on retirement age–or they’re unlikely enough to need its survivor or disability benefits. But the system contributes half or more of most people’s retirement income, so it’s worth knowing what you’ve been promised. Perhaps knowing might even inspire you to lean on your lawmakers to get the system’s problems fixed while there’s still time.