Dear Liz: You’ve advised people that “it’s important to keep your credit utilization down, even if you pay in full (as you should).” That may be good advice regarding one’s credit score, but there is another perspective. Although we pay in full every month (and have paid no credit card interest since 1971), charging almost […]
Recent Blog Posts
Q&A: Social Security strategies vary by age
Dear Liz: My husband has been on Social Security disability since he was 61. He’s now 69 and receives $1,700 a month. I will be turning 66 next year. I still work and want to file for spousal benefits, which would be half of his benefit, but I’m not sure what the best option is. […]
Q&A: Fear of a market meltdown has frozen this retiree’s money decisions
Dear Liz: I sold my home two years ago and still have not done anything with my gain of $200,000. It’s in a one-year certificate of deposit so at least it’s earning something while I try to figure out what to do with it. I’m 66, retired and have an IRA of $500,000 that’s invested […]
It’s time to fix Social Security’s tax burden
People on Social Security need a tax break. The rest of us need to make sure they get it — for everyone’s sake. When Congress made Social Security benefits taxable in 1983, lawmakers didn’t index the tax thresholds to inflation. They “forgot” inflation again when adding a second layer of taxation in 1993. That means […]
Q&A: Mysterious bank charge needs investigating
Dear Liz: The other day I went to my credit union to withdraw $1,000 to pay for my sister’s burial. The bank teller kept $90 and gave me only $910. Is that done when a person withdraws cash from a bank account? I got very angry and complained to the manager of the bank, but […]
Q&A: One auto-pay misstep and her credit score falls off a cliff
Dear Liz: I recently took a deduction in my Experian FICO score of more than 100 points due to a single late payment to my mortgage. My score of 810 dropped to 704. The mortgage company notified me several months ago that my impound account would go up $51 a month due to higher homeowners […]