Ask Liz Weston

Get smart with your money

Liz's Blog

Tuesday’s need-to-know money news

By

Today’s top story: 7 expenses that vanish when you retire. Also in the news: earning extra cash for the holidays, money mistakes to avoid in your 40’s and 7 questions to ask before you retire.

7 Expenses That Vanish During Retirement
Time to kiss commuting expenses goodbye!

7 Things Your Credit Score Doesn’t Reveal
The source of your debt is one of them.

Ready to Retire? Answer these 7 Questions First
Seven questions you need to answer before handing in your papers.

How to Earn Extra Cash for the Holidays
Legitimate ways to earn money from home for the holidays.

Money Mistakes You Can’t Make In Your 40s
Starting with having too much credit card debt.

Settling student loan debt: not exactly the easy way out

By

Education savingsCredit card debts can be settled for pennies on the dollar. Not so student loan debt. Borrowers usually can’t threaten bankruptcy to get a settlement, and the federal government has extraordinary powers to force borrowers to pay. (The feds collect between $1.11 and $1.22 for every $1 owed.)

But in the right circumstances, student loan debt can be settled. My latest column for Reuters explains who might be in a good position to try: those who have a lump sum to offer, and whose prospects for paying up otherwise are dim.

Also, in case you missed it, check out “Saving for college? 529 plans aren’t as safe as you think.” These tax-advantaged plans are still the best way for most families to save, but you need to keep a close eye on your mix of stocks, bonds and cash as your kids approach college age. Bond-heavy portfolios are common in the final years of age-based plans, but those could be in for some shocks if interest rates rise.

 

Help your local food bank

By

eating breakfastFood stamp benefits to 47 million people were cut Nov. 1–and further cuts may lie ahead.

Food banks already depleted by the lousy economy are now bracing for an influx of new patrons. So if you’re not among the one in seven Americans currently receiving food stamps, please consider a donation to your local food bank to help meet this growing need.

The best donation is cash (or checks, or payment by credit card). Food banks have relationships with food makers and distributors that allow them to get much better deals on bulk purchases than what you can get at the retail level. The Los Angeles Regional Food Bank, which my family supports with a monthly donation, can provide four meals for every $1 donated.

If what you can offer is food, though, or your skills in organizing a food drive–that’s good, too.

You can find your local food bank through the Feeding America site.

Monday’s need-to-know money news

By

Today’s top story: Preparing your home for the winter months. Also in the news: Common credit card myths, how to save on your Thanksgiving travel, and what you shouldn’t buy on Black Friday.

Seven Essential Home Maintenance Tips for Winter
Preparing your home for the cold months ahead.

5 Common Credit Card Myths
Time for some mythbusting.

Money Saving Tips For Thanksgiving Travel 2013
Going over the river and through the woods doesn’t have to cost a fortune.

How to prepare your ‘retirement landing’
Avoiding turbulence as you approach the runway.

13 Things Not to Buy on Black Friday
Just because it’s on sale doesn’t mean it’s a bargain.

Friday’s need-to-know money news

By

Old Woman Hand on CaneToday’s top story: How to manage your elderly parents’ money and protect them from identity theft. Also in the news: Changes to health savings accounts, open enrollment season, and personal finance tips from evil millionaires.

How to Manage Your Elderly Parent’s Money
Protecting elderly parents from identity theft.

The Best Personal Finance Tips from Evil Millionaires
Who better to learn from?

How to Make Smart Benefits Choices for 2014
How to approach open enrollment season for 2014.

7 Tips to Cut Flight Costs During the Holidays
How to arrive at your holiday destination for less.

Treasury Loosens Rules on Health Spending Accounts
Up to $500 can be rolled over to the next year IF your company offers the option.

Thursday’s need-to-know money news

By

Today’s top story: Fighting back against bad credit. Also in the news: financial horror stories, retiring on one million dollars, and mastering your finances through TED talks.

Haunted By Bad Credit? 5 Ways to Fight Back
Busting the ghosts of bad credit.

Top 5 TED Talks to Master Your Finances
Listening to the experts.

6 Financial Horror Stories That Could Happen to You
Read with the lights on.

Can you retire worry-free on $1 million?
Possibly.

10 people you’re not tipping enough
Tips on tipping.