Many people who take out loans to pay off credit cards and other obligations wind up worse off, with more debt and more stress than before they applied. Some people, though, successfully use debt consolidation loans to turn a bad financial situation around. In my latest for the Associated Press, a look at debt consolidation […]
Recent Blog Posts
Q&A: Social Security survivor’s benefit
Dear Liz: My husband will retire next spring but has wisely decided to not collect Social Security until he is 70. I have been retired for several years and have been collecting my Social Security benefits, which are significantly less than what his will be because he was the higher wage earner. Should he die […]
Q&A: Paying credit card debt after death
Dear Liz: I am 80 and I have a substantial amount of credit card debt, approximately $30,000. What becomes of this credit card debt in the event of my death? Will it become a future liability for my two sons or will this eventually become a bad debt for the credit card company? I would […]
Q&A: Spouse balks at wife’s franchise-financing scheme
Dear Liz: My wife has an MBA and essentially has been a homemaker due to having a disabled child. She would like to go back to work and has asked me to cosign a $1.5-million loan to buy a franchise. In addition, she would like to use all the savings we have —$140,000 — for […]
Monday’s need-to-know money news
Today’s top story: How your credit score affects your mortgage rate. Also in the news: Why free shipping isn’t always free, how people are feeling about chip credit cards, and the four personal finance questions you need to ask yourself before retiring. How Your Credit Score Affects Your Mortgage Rate Borrowing at higher rates. Why […]
Friday’s need-to-know money news
Today’s top story: How to teach your kids about money. Also in the news: How money market accounts could drag down your retirement, how to deal when your student loans are more than your yearly income, and why you should start thinking about your taxes immediately. 3 Ways to Teach Kids About Money Raising financially […]