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5 ways to calm financial stress

March 26, 2024 By Liz Weston

Financial stress is so common that certified financial planner Katie Lindquist says almost every client she has tells her they are feeling it.

“They don’t know what they should be doing with their money, and they feel like they should know. They feel shame around their money habits, which is a huge driving force of stress,” Lindquist says.

To alleviate that tension, Lindquist helps them get organized and take inventory of their financial accounts and goals. “People who have financial plans are a lot less stressed because they know where they are and where they want to go,” says Lindquist, who is based in Madison, Wisconsin. In Kimberly Palmer’s latest for the Seattle Times, learn 5 ways to calm financial stress.

Filed Under: Liz's Blog Tagged With: common financial mistakes

This week’s money news

March 26, 2024 By Liz Weston

This week’s top story: 5 tips for avoiding tax scams in 2024. In other news: How a travel credit card can be your ticket to big savings, what to know when applying life insurance for transgender people, and government shutdown threat finally put to rest for now.

5 Tips for Avoiding Tax Scams in 2024
If someone unexpectedly tries to rush you into a tax decision, they are likely a scammer. Here are five tips for spotting and avoiding tax scams this season.

How a Travel Credit Card Can Be Your Ticket to Big Savings
A travel credit card can provide savings for your next vacation if you can make full use of its valuable features.

Life Insurance for Transgender People: What to Know When Applying
Gender identity won’t impact eligibility, but you may have to share your sex assigned at birth or medical history.

Government Shutdown Threat Finally Put to Rest — For Now
Early on Saturday, shortly after the midnight deadline, Congress approved a spending bill to avoid a shutdown.

Filed Under: Liz's Blog Tagged With: Credit Cards, government shutdown, life insurance, reward cards, tax scams

This week’s money news

March 18, 2024 By Liz Weston

This week’s top story: What the big relators settlement means for home buyers and sellers. In other news: The evolution of retirement and what it might mean for you, next target in Biden vs. junk fees, and dynamic pricing.

What the Big Realtors Settlement Means for Home Buyers and Sellers
The agreement could mean that home buyers would set their own agents’ pay, and sellers might save on commissions.

The Evolution of Retirement — and What It Might Mean for You
From adapting your portfolio to playing more pickleball, here’s how retirement might be shaping up for you.

Next Target in Biden vs. Junk Fees: Colleges, Student Lending
The Biden administration is now tackling fees that fall on college students and student loan borrowers.

Wendy’s Isn’t the First: Dynamic Pricing Is Everywhere
Dynamic pricing uses real-time supply and demand data to fluctuate prices up or down.

Filed Under: Liz's Blog Tagged With: real estate, Retirement, Student Loans

Worried about money? Ways to keep your kids from feeling your stress

March 11, 2024 By Liz Weston

When it comes to parents and children, money stress can be contagious.

That’s what Amy Weimer, director of the School of Family and Consumer Sciences at Texas State University, found when she and a colleague studied 60 children last year. They were more likely to report feeling worried if their parents were experiencing long-term financial stress.

“As a parent, if I know I’m in deep debt, I would want to do something to address that issue so it doesn’t trickle down and have an impact on my child’s mental well-being,” Weimer says. Parents may want to seek financial counseling to help with debt management, for example, if they are experiencing financial strain, she adds.

According to researchers and financial professionals, there are also other steps parents can take to help teach their children about money without sharing their financial worries with them. In Kimberly Palmer’s latest for the Seattle Times, learn ways to keep your kids from feeling your stress.

Filed Under: Liz's Blog Tagged With: kids and money

This week’s money news

March 11, 2024 By Liz Weston

This week’s top story: When you want to leave your medicare advantage plan but feel stuck. In other news: How the SVB collapse still ripples through banking, 5 financial mistakes to avoid when you are self-employed, and what small-business owners need to know about NIL sponsorships.

When You Want to Leave Your Medicare Advantage Plan — But Feel Stuck
How to get out of your Medicare Advantage plan if it’s not right for you — and what to do if there are no good alternatives.

How the SVB Collapse Still Ripples Through Banking, 1 Year Later
Five banks failed last year, including Silicon Valley Bank. Keeping your money FDIC-insured goes a long way to prepare you for any future bank collapse.

5 Financial Mistakes to Avoid When You Are Self-Employed
Self-employment can be rewarding, but it can also be expensive when you make certain financial mistakes.

What Small-Business Owners Need to Know About NIL Sponsorships
Small-business owners can use name, image, likeness sponsorships, but should be intentional and avoid investing simply as fans.

Filed Under: Liz's Blog Tagged With: Medicare, Medicare Advantage plan, self-employment, Silicon Valley Bank, small business

This week’s money news

March 4, 2024 By Liz Weston

This week’s top story: Mortgage rates will not fall in March. In other news: Rental housing prices 2024, why some millennials don’t want kids, and managing credit cards when you grew up in a cash-only household.

When Will Mortgage Rates Fall? Probably Not in March
Mortgage rates are expected to go down sometime in 2024, but the decline probably won’t start in March.

Will Rental Housing Prices Drop in 2024?
Rental inflation is slowing down, but prices are expected to stay elevated in 2024.

Why Don’t Some Millennials Want Kids? They Say It’s Too Expensive
A new NerdWallet survey finds that just 25% of millennials who don’t have kids plan to have them. A major reason why? The high cost of raising children.

Managing Credit Cards When You Grew Up in a Cash-Only Household
Debt-averse relatives may not understand your choices, but it’s OK to forge your own financial path.

Filed Under: Liz's Blog Tagged With: Credit Cards, kids and money, mortgage rates, rent

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