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Why you (and I) should name a ‘trusted contact’

March 1, 2022 By Liz Weston

For the past few years, financial services companies have been bugging me to name a “trusted contact.” Banks, brokerages and insurers increasingly want to have someone to call or email in case they notice suspicious activity and can’t reach the account holder.

I ignored these requests. Trusted contacts are a great idea for older people experiencing cognitive decline, I thought, but that’s not me.

Then a younger friend developed early-onset dementia, and I realized we don’t always get enough warning to put such protections in place.

In my latest for the Associated Press, learn more about trusted contacts.

Filed Under: Liz's Blog Tagged With: trusted contacts

Monday’s need-to-know money news

February 28, 2022 By Liz Weston

Today’s top story: Mortgage Outlook in March. Also in the news: Balancing Hopes, Dreams and a Low-Paying College Major, Smart Money podcast on the tax, and how to safely tap home equity in a financial emergency.

Mortgage Outlook: Rates Could Keep Climbing in March
Mortgage rates are more likely to go up than go down in March.

Balancing Hopes, Dreams and a Low-Paying College Major
Liberal arts grads face longer odds compared with science, technology, engineering and mathematics degrees, but a well-chosen humanities major doesn’t have to be a vow of poverty.

Smart Money Podcast: The Tax Episode
Sean and Liz discuss deductions, credits and how to know when to call in a tax pro.

How to Safely Tap Home Equity in a Financial Emergency
Understand the costs and risks of borrowing against your home equity before tapping into it.

Filed Under: Liz's Blog Tagged With: financial emergency, Home Equity, low-paying college major, mortgage, Smart Money podcast

Friday’s need-to-know money news

February 25, 2022 By Liz Weston

Today’s top story: 3 business loan application mistakes and how to avoid them. Also in the news: New tax reporting requirements and the five stages of a market bubble.

3 Business Loan Application Mistakes and How to Avoid Them
When applying for a business loan, choose the right lender, organize your paperwork and seek advice from financial professionals.

Sold $600 on Peer-to-Peer Apps? Expect a New Tax Form
Apps like PayPal and Venmo are subject to new tax reporting requirements as of Jan. 1. Here’s what’s changing for small businesses.

The Five Stages of a Market Bubble (and Where Crypto Stands)
Just because the blockchain may be here to stay doesn’t mean the current crypto market isn’t circling the drain.

Filed Under: Liz's Blog Tagged With: business loan, crypto, new tax form, PayPal, Venmo

Thursday’s need-to-know money news

February 24, 2022 By Liz Weston

Today’s top story: Grimace-free ways to learn personal finance. Also in the news: How to stop anxiety from sabotaging your investments, and what to look for in a house if you want to start a family.

Grimace-Free Ways to Learn Personal Finance
Outrageous statements and flashy graphics grab attention, but there’s also plenty of sound, factually correct money content out there – and some of it is even entertaining.

How to Stop Anxiety From Sabotaging Your Investments
Fear is the mind-killer—don’t let it be the IRA killer, too.

What to Look for in a House If You Want to Start a Family
Beyond good schools and a quiet street, it helps if you can find these features.

Filed Under: Liz's Blog Tagged With: housing, investment, IRA, personal finance

Wednesday’s need-to-know money news

February 23, 2022 By Liz Weston

Today’s top story: 7 secrets to surviving group travel With different budgets. Also in the news: Why Puerto Rico is the ultimate travel destination this year, and 5 ways to avoid travel headaches this year.

7 Secrets to Surviving Group Travel With Different Budgets
Communication and planning are key when setting financial expectations for travel with friends.

One Big Reason Why Puerto Rico Might Be the Ultimate Travel Destination This Year
High vaccination rates and fewer travel restrictions make Puerto Rico a draw.

5 Ways to Avoid Travel Headaches This Year
COVID-19 is still negatively impacting travel, so plan accordingly.

Filed Under: Liz's Blog Tagged With: budget travel, travel

Tuesday’s need-to-know money news

February 22, 2022 By Liz Weston

Today’s top story:  How to protect your spending power from inflation. Also in the news: How money red flags can make or break a couple, how Generation Z can jump-start savings, and how to tell if a subscription flight service is worth your money.

How to Protect Your Spending Power From Inflation
So the 7.5% spike seen over the past year in the costs of fuel, used vehicles, groceries and just about everything else is the kind of sudden and systemic rise that can give a jolt to most peoples’ everyday spending.

Money Red Flags Can Make or Break a Couple
If you both can discuss your differences with honesty and empathy, it’s an opportunity to emerge stronger. But some money red flags can’t be ignored.

How Generation Z Can Jump-start Savings (Advice Anyone Can Use)
Start saving early: Begin with a small amount, automate your deposits, earn interest and eventually level up.

How to Tell If a Subscription Flight Service Is Worth Your Money
Alaska Airlines is joining the subscription game with Flight Pass. How good of a deal is it?

Filed Under: Liz's Blog Tagged With: flight service subscription, inflation, jump-start savings, money red flags

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