Ask Liz Weston

March 2, 2020 By Liz Weston

Q&A: Culture and parental advice

Dear Liz: You recently answered a question from a parent who wanted to know how to fix a financial issue in an adult child’s marriage. Your advice was basically to butt out. I think that may depend on culture. What if your advice saved your child’s marriage? What if it prevented your child from going […]

Filed Under: Follow Up, Q&A Tagged With: follow up, parents and money, q&a

March 2, 2020 By Liz Weston

Q&A: Different approaches to marital finances

Dear Liz: Thank you for mentioning that many couples like to keep their finances entirely or mostly separate. Our solution was to create a joint bank account just for paying joint expenses, such as rent, food, entertainment together, vacations and so on. We each funded this account proportionately, based on our income (for example, the […]

Filed Under: Couples & Money, Follow Up, Q&A Tagged With: couples and money, follow up, q&a

February 28, 2020 By Liz Weston

Friday’s need-to-know money news

Today’s top story: Concerned about Coronoavirus? How to prepare your house, mind and bank account. Also in the news: 3 ways Millennials are getting money right, what to buy (and skip) in March, and 6 moves to make if you’ve saved more than $1,000 in your checking account. Concerned About Coronavirus? How to Prepare Your […]

Filed Under: Liz's Blog Tagged With: banking, checking accounts, Coronavirus, March shopping, millennials and money, money moves, tips

February 27, 2020 By Liz Weston

Thursday’s need-to-know money news

Today’s top story: When the market drops, play the long game with retirement savings. Also in the news: Is booking a last-minute spring break flight with miles a good idea, a credit union’s new card goes all-in with 3X points, and how to get a credit card when you’re already in debt. When the Market […]

Filed Under: Liz's Blog Tagged With: ask a points nerd, Credit Cards, credit union, miles, retirement savings, rewards, spring break, stock market, Tropical financial credit union

February 26, 2020 By Liz Weston

Wednesday’s need-to-know money news

Today’s top story: Credit cards that earn 2% cash back or more on purchases. Also in the news: Most Americans go mobile with payment apps, why you shouldn’t let your credit score define you, and the best tax preparation software of 2020. Credit Cards That Earn 2% Cash Back or More on Purchases Reward simplicity. […]

Filed Under: Liz's Blog Tagged With: credit card rewards, Credit Score, mobile payment apps, tax preparation software

February 26, 2020 By Liz Weston

Should you shift to a cash management account?

High-yield cash management accounts are popping up at brokerages nationwide, promising customers much better returns and higher insurance limits than they can get from traditional banks. The accounts are a twist on the sweep accounts brokerages have long offered their customers, where idle cash is swept into a money market account or affiliated bank account […]

Filed Under: Liz's Blog Tagged With: banking, cash management accounts, Savings

February 25, 2020 By Liz Weston

Tuesday’s need-to-know money news

Today’s top story: Home Down payment – more attainable than you may think. Also in the news: The best balance transfer credit cards for business, the SmartMoney podcast tackles converting an IRA to a Roth, and how to avoid higher airline baggage fees. Home Down Payment: More Attainable Than You May Think Big down payments […]

Filed Under: Liz's Blog Tagged With: airline baggage fees, balance transfer credit cards, IRA, Roth, SmartMoney podcast

February 24, 2020 By Liz Weston

Monday’s need-to-know money news

Today’s top story: How the IRS knows if you cheat on your taxes. Also in the news: 3 reasons to pay for spring break with a travel credit card, alternative options if you can’t find an affordable FHA-approved home, and why the bank holds your deposit for 9 days on new accounts. How the IRS […]

Filed Under: Liz's Blog Tagged With: banking deposits, Credit Cards, FHA-approved homes, IRS, reward points, spring break, tax cheats, Taxes

February 24, 2020 By Liz Weston

Q&A: To build credit, try this set-it-and-forget-it trick

Dear Liz: I have little credit history and my Experian credit score is about 620. My wife has no credit history. We are in the process of increasing our creditworthiness. I have an unsecured credit card from my credit union. She will be getting a secured credit card. We will use these lightly and regularly, […]

Filed Under: Credit Scoring, Q&A Tagged With: Credit, credit building, q&a, tips

February 24, 2020 By Liz Weston

Q&A: Delaying Social Security benefits

Dear Liz: My wife is a retired schoolteacher who has a pension. Because she is subject to the government pension offset, she will not be eligible for my Social Security benefit when I pass. My plan was to wait until 70 to file to maximize my benefit. This usually has the advantage of also increasing […]

Filed Under: Q&A, Social Security Tagged With: delaying benefits, q&a, Social Security

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