Get smart with your money
Dear Liz: I hope you can offer me some advice regarding a large credit card debt. My 28-year-old grandson is currently enrolled in college part-time and is employed. Over the last few years, he was not in school and unable to find work. He has, consequently, accumulated a total debt of $7,000 on his three […]
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Dear Liz: I am 63 and divorced after being married over 10 years. I was told by our local Social Security office that I need my ex’s Social Security number in order to find out whether spousal benefits based on his record would be more than benefits based on my own record. I have his […]
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Dear Liz: In your book “Your Credit Score,” you note that one of the best ways to improve your credit score and lighten your credit card load is to get a personal loan with a credit union and pay it off in installments. I have two high-interest credit card balances that are hovering right near […]
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Dear Liz: Should my retired wife (age 74) and I (age 78) refinance our home just to lower our monthly payment by $100? I’m considering going for a five-year fixed at 2.74% followed by a 25-year variable. Our outstanding loans amount to $200,000. The value of our home has decreased to $400,000. My wife is […]
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The conventional wisdom—that people who file for bankruptcy are deadbeats who choose not to pay their debts—is typically dead wrong. Ask any bankruptcy judge or trustee. Most people who file for bankruptcy don’t do it as a first resort. Most people, in fact, put off filing for far too long. They struggle for years with […]
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Foreclosure, bankruptcy or a history of missing payments can send your credit scores into the basement. The good news: nothing is permanent in the world of credit and credit scoring. You can rehabilitate your scores over time if you know how. Here’s what to do: Pull your credit reports from all three bureaus. Check for […]
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Dear Liz: Our landlady has been diagnosed with an advanced stage of cancer. In her precarious health, I find myself concerned that we may have to move if she gives up the duplex and moves to a care facility. I’m unemployed and my 72-year-old husband has recently been diagnosed with early stages of dementia. I […]
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Dear Liz: I question your advice to the father whose son was turned down for a car loan. You told the father: “Your children don’t need to take on debt to build their credit histories. A couple of credit cards, used lightly but regularly and paid off in full every month, will do the job.” […]
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If you’re in the market to replace a vehicle, check out Edmunds.com’s list of 2012 Used Car Best Bets, which include: Compact Sedan: 2005-2010 Hyundai Elantra Midsize Sedan: 2005-2010 Nissan Altima Large Sedan: 2006-2010 Hyundai Azera Coupe: 2005-2010 BMW 3 Series Convertible: 2005-2010 Mazda Miata Wagon: 2005-2010 Pontiac Vibe Compact SUV/Crossover: 2005-2010 Honda CR-V Midsize […]
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Dear Liz: I opened Uniform Transfers to Minors Act savings accounts for my two boys (now 7 and 10) when they were newborns. I chose not to go with the 529 college savings accounts because I didn’t like the restriction that the money had to be used for education. It has always been my intention […]
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