Dear Liz: I’m debt free with a comfortable income and excellent credit. I just got a new cash-back credit card. I have three other credit cards, including one affiliated with a retail chain that I no longer use. Should I close the retail chain card so I only have three cards? Should I have fewer? Answer: More […]
Recent Blog Posts
How to get comfortable with taking smart financial risks
Making money, whether by putting cash into the stock market, buying a home or jumping to a better-paying job, requires some degree of risk. While embracing any of those moves might feel as scary as skydiving off a cliff, there are times when a little risk makes financial sense. “In certain scenarios, not taking enough […]
This week’s money news
This week’s top story: Steps to do before the redesigned 2024 FAFSA launches in December. In other news: 3 ways to stretch your dollar on a European vacation in 2023, the best time to book holiday travel is very soon, and housing shortage can’t be fixed with polite nudges, pocket change. Do This Before the Redesigned […]
Q&A: Establishing credit without debt
Dear Liz: My wife and I are retired. We have always paid our credit card balances in full each month and have zero debt. A banker recently advised us to establish credit and make timely monthly payments in order to maintain a high credit rating in case we need to borrow in the future. I feel […]
Q&A: Social Security spousal benefits
Dear Liz: I qualified for Social Security and receive a benefit. My wife did not work long enough to get a benefit, yet she receives a small amount each month. What is this from? What happens to it at her death? Answer: Her benefit is probably a spousal benefit, which is based on your work record. Spousal benefits can […]
Q&A: When a HELOC rate is too good to be true
Dear Liz: My current home mortgage rate is 5%. I owe about $340,000 on the house and have about $300,000 in equity. My credit union is offering a home equity line of credit with a rate of 3%. Would it be a good idea to take out a HELOC at that rate and use those funds […]