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Friday’s need-to-know money news

March 28, 2014 By Liz Weston

images (2)Today’s top story: The importance of having your affairs in order. Also in the news: Why you should save more for retirement, when it’s time to take over your parents’ finances, and when to smash the piggy bank containing your emergency fund.

A Cautionary Tale: Get Your Affairs In Order Now
Don’t let the biggest decisions in your life be left to chance.

5 Steps To Retraining Your Brain To Save More For Retirement
It’s not just about when you retire; it’s also how you retire.

How to Swoop In and Manage Your Parents’ Finances
Before it’s too late.

When Should I Dip Into My Emergency Fund?
What constitutes an actual emergency?

5 Last Minute Apps to Help You Get Through Tax Season
Your phone or tablet isn’t just for Candy Crush.

Filed Under: Liz's Blog Tagged With: financial apps, health care proxy, managing elderly parents, personal affairs, power of attorney, tax refunds, tax season, Taxes

Get all the (college) credit you deserve

March 27, 2014 By Liz Weston

Zemanta Related Posts ThumbnailOne way to save money on college, families are frequently told, is to start at a two-year school and then transfer to a four-year institution.

The problem with such advice is that a lot of students never make it to the four-year college.

Even when researchers control for family background, achievement and ambition, those who start at two-year schools are far less likely to complete a bachelors degree.

One of the reasons may be that credits earned in community college often don’t transfer to the four-year school. Students who aren’t savvy about the transfer process may not realize how picky four-year institutions can be.

That’s leading a lot of otherwise capable students to drop out, according to two researchers from the City University of New York who reviewed 13,000 students’ records. My Reuters column this week, “For students who transfer, lost credits can doom college hopes,” has details about their study.

Community college students are more likely to be first generation, which means they can’t turn to their parents for advice about navigating the college transfer process. They’re trying to figure this out on their own, often without much help from the schools.

Some states have tried to ease the way by creating pathways between community college and their public four-year institutions. These pathways guarantee admission and credit if the students take recommended courses and maintain a minimum grade point average.

But students have to know such pathways exist and how to follow them. In states where these pathways haven’t been created, students must try to determine which courses are most likely to transfer and which aren’t.

To do that, kids need help. College consultant Todd Weaver recommends that community college students make a point of getting to know their academic adviser. The advisors’ caseloads may be huge–hundreds of students–but seeing them once every four to six weeks can help create the kind of relationship these students need to get specific advice on navigating this complicated process, Weaver said.

At the macro level, the researchers believe more needs to be done to smooth the transfer process. Most new jobs in the 21st century will require a four-year degree, and a more educated population is necessary if we want to compete in the global economy and have a viable middle class.

Given what’s at stake, students need all the help they can get.

 

 

Filed Under: Liz's Blog Tagged With: college, college costs, college credit, college transfer

Thursday’s need-to-know money news

March 27, 2014 By Liz Weston

Zemanta Related Posts ThumbnailToday’s top story: What to expect when you’re hit with a penalty APR. Also in the news: What to do when your home equity line is about to end, everything you need to know about personal finance in 100 words or less, and stories from America Saves Week.

Am I Stuck With a Penalty APR on My Credit Card?
How long until you can get your old rate back?

What to do if your home-equity line is about to end
What to do before your month payment shoots through the roof.

Everything You Need to Know About Personal Finance in 100 Words (or Less)
Short and sweet.

12 Personal Finance Stories For America Saves Week
Learning from others.

What The NCAA Bracket Can Teach You About Personal Finance
Be prepared for upsets.

Filed Under: Liz's Blog Tagged With: advice, America Saves Week, Credit Cards, home equity line, NCAA tournament, penalty rate

Wednesday’s need-to-know money news

March 26, 2014 By Liz Weston

Portrait Of Senior Couple In ParkToday’s top story: Hacks that can give your credit score a boost. Also in the news: Amazon refunds eBook buyers, seniors not taking it easy during retirement, and what you should know about long term care insurance.

4 Credit Score Hacks
How to give your credit score a little boost.

Amazon e-book customers wake up to free cash
If you’ve purchased e-books from Amazon over the past few years, you could have a surprise in your inbox.

Why So Many Seniors Are Launching Businesses
Retirement is no longer just for golfing.

Long-Term Care Insurance: What You Should Know
Don’t be caught off guard by medical expenses during retirement.

Should I Use a Charge Card? Depends on Month
Waiting until April could be a good thing.

Filed Under: Liz's Blog Tagged With: Amazon, Credit Score, eBooks, long-term care insurance, Retirement

Tuesday’s need-to-know money news

March 25, 2014 By Liz Weston

Zemanta Related Posts ThumbnailToday’s top story: Deciphering the different types of credit scores. Also in the news: The mysteries of financial aid, authorized credit card users and bankruptcy, and how to plan your retirement regardless of employer contributions.

Which Credit Score Should I Check?
Understanding the different species of credit scores.

9 Things You Probably Didn’t Know About Financial Aid For College
Clearing up the collegiate confusion.

What Happens If Authorized User Goes Bankrupt
What impact will it have on your credit rating?

Don’t depend on your employer for retirement
Planning your retirement regardless of employee contribution is essential.

5 Money-Saving Tips for Small Business Owners
Save money and stress with these tips.

Filed Under: Liz's Blog Tagged With: Bankruptcy, credit rating, Credit Scores, financial aid, Retirement, small business owners

Monday’s need-to-know money news

March 24, 2014 By Liz Weston

Zemanta Related Posts ThumbnailToday’s top story: Everything you need to know about the Earned Income Tax Credit. Also in the news: Saving for your wedding, double checking your 1040, and why deducting medical expenses isn’t as easy as you’d think.

Earned Income Tax Credit: The Basics
What you need need to know about this important tax credit.

How to Save for Your Wedding in Less Than a Year
The happiest day of your life doesn’t have to drain your bank account.

Do Some Looking And Thinking Before Signing Form 1040
Making sure you’ve covered the bases.

Claiming medical deductions harder than you think
Because nothing with taxes is ever easy.

Should You Buy an Extended Warranty?
Depends on what you’re purchasing.

Filed Under: Liz's Blog Tagged With: medical expenses, medical tax deductions, tax credits, Taxes, warranties, weddings

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