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 […]
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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 […]
Friday’s need-to-know money news
Today’s top story: 5 smart ways to use and repay holiday debt. Also in the news: Gamifying your financial goals, what your credit card rental car coverage doesn’t include, and how much the wrong savings account cost you in 2018. 5 Smart Ways to Use and Repay Holiday Debt Reward yourself for giving. Budgeting No […]
Thursday’s need-to-know money news
Today’s top story: Money myths you don’t have to live by. Also in the news: Keep track of store deadlines for happy returns, how to stop scammers who sound just like your bank, and how to use tipping apps. You Don’t Have to Live By These Money Myths What works for one person might not […]
Wednesday’s need-to-know money news
Today’s top story: What to buy every month in 2019. Also in the news: Giving income updates to credit card companies, Experian adds a new way to strengthen your credit, and how the latest Fed decision affects rates on credit cards, mortgages and savings accounts. What to Buy Every Month in 2019 Plan your purchases […]