Ask Liz Weston

April 11, 2016 By Liz Weston

Q&A: Letting car be repossessed will make debt problem worse

Dear Liz: I own a car that I can no longer afford. Unfortunately, buying it was a poor decision and came with terrible interest rates and terms. I’ve been 30 to 60 days late on the payments for close to a year and have other debts that I haven’t been able to pay. Because of […]

Filed Under: Credit & Debt, Q&A Tagged With: automobiles, debt, q&a, repossession

April 11, 2016 By Liz Weston

Q&A: Understating financial situation

Dear Liz: When applying for credit or at other times when one must state gross income, how should virtual income be computed and treated? My wife and I have annual tax-free income of about $96,000, not subject to offset of any kind, plus our $8,000 annual property taxes are waived in their entirety, as are […]

Filed Under: Credit & Debt, Q&A Tagged With: Credit, credit check, q&a, virtual income

April 11, 2016 By Liz Weston

Q&A: Social Security vs. state pension

Dear Liz: I worked enough in private industry to qualify for Social Security benefits, but then worked for the state and did not contribute to Social Security for another 20 years. So, I will have a state pension at my current salary as well as Social Security representing my former salary, which was about one-third […]

Filed Under: Q&A, Retirement Tagged With: Pension, q&a, Retirement, Social Security, windfall elimination provision

April 8, 2016 By Liz Weston

Friday’s need-to-know money news

Today’s top story: How to save money without disrupting your lifestyle. Also in the news: What you can learn from your tax return, discovering your FI number, and why millennials should consider a robo-advisor. How to Save Money Without Disrupting Your Lifestyle Saving doesn’t have to be painful. 5 things you can learn from your […]

Filed Under: Uncategorized Tagged With: FI number, financial independence, millennials, robe-advisors, Savings, tax return, Taxes, tips

April 7, 2016 By Liz Weston

Thursday’s need-to-know money news

Today’s top story: How the new advisor rule will effect your retirement investments. Also in the news: Why a better FICO score leads to a better retirement, how to avoid retirement rip-offs, and protecting your tax returns from criminals. What the New Advisor Rule Means for You, Your Retirement Investments Introducing the fiduciary rule. How […]

Filed Under: Liz's Blog Tagged With: Credit Scores, FICO score, fiduciary rule, financial advisors, phishing, Retirement, tax returns, Taxes

April 6, 2016 By Liz Weston

Wednesday’s need-to-know money news

Today’s top story: Should you pay your taxes with a credit card? Also in the news: Smart money moves for April, tax myths about IRS audits and why having more money won’t fix your financial problems. You can pay your taxes with credit card, but should you? The convenience could become costly. Smart Money Moves […]

Filed Under: Liz's Blog Tagged With: audits, financial habits, IRS, money moves, myth busting

April 5, 2016 By Liz Weston

‘Alternative’ Credit: Your Scores Still Matter

Startup and traditional lenders alike are looking for the new prize: creditworthy people who don’t have good credit scores. To find them, companies are experimenting with all kinds of alternative data that’s typically not part of credit reports, such as utility bills, social media posts and how often you change your address. In addition, some […]

Filed Under: Liz's Blog Tagged With: alternative scores, Credit, Credit Scores

April 5, 2016 By Liz Weston

Tuesday’s need-to-know money news

Today’s top story: How to lodge a student loan complaint. Also in the news: How adult kids living at home can help your tax bill, using direct contributions from your paycheck to save for college, and the best time of year to sign up for a rewards credit card. How to Lodge a Student Loan […]

Filed Under: Liz's Blog

April 4, 2016 By Liz Weston

Monday’s need-to-know money news

Today’s top story: What to buy and what to skip in April. Also in the news: What all those terms and conditions you ignore really mean, how to save for a home when you have student debt, and steps for helping kids become financially savvy. What to Buy (and Skip) in April Spending your cash […]

Filed Under: Liz's Blog Tagged With: kids and money, mortgages, National Financial Literacy Month, real estate, shopping tips, student debt, teens and money, terms and conditions, tips

April 4, 2016 By Liz Weston

Q&A: The pros and cons of converting life insurance to an annuity

Dear Liz: I have a life insurance policy that is worth $16,000 if I cash out. Our agent says if we convert this to an annuity, we would eliminate our monthly fee of $25. The policy is worth $35,000 if I should die with it still in effect. We purchased this only for the purpose […]

Filed Under: Insurance, Q&A, Retirement Tagged With: annuity, life insurance, q&a

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