Savings rates for adults under 35 plunged from 5 percent in 2009 to a negative 2 percent, according to Moody’s Analytics, and the consequences are potentially huge. Here’s how a Wall Street Journal writer put it: “A lack of savings increases the vulnerability of young workers in the postrecession economy, leaving many without a financial […]
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Monday’s need-to-know money news
Today’s top story: A surprising way identity theft can hurt your credit. Also in the news: Tips on how to manage major bills, rethinking retirement for Millennials, and financial tips for veterans from military experts. The Surprising Way an Identity Thief Can Hurt Your Credit Pay close attention to hard inquiries. Utilize the Half Payment […]
Q&A: Who is responsible for credit card debt after death?
Dear Liz: My mother, who is widowed, has credit card debt. When she dies, are my sister and I responsible for that debt? There is no estate, but she does have a small amount of life insurance that mainly would go toward her funeral expenses and fixing things in her home to get it ready […]
Q&A: Debit card fraud follow-up
Dear Liz: Regarding your recent answer regarding a mysterious debit charge, I beg to differ with your quoted source, Odysseas Papadimitriou of Evolution Finance, who said it was unlikely to be fraud. It took me all of 30 seconds to search online for “credit card fraud small amount” and found multiple reliable sites dedicated to […]
Friday’s need-to-know money news
Today’s top story: How to calculate your retirement number. Also in the news: Hilton HHonors program suffers a data breach, the biggest mistakes people make when saving for retirement, and a beginner’s guide to taxes for newly married couples. 3 Ways to Calculate Your Retirement Number Determining how much you need to retire. Newest Target […]
Thursday’s need-to-know money news
Today’s top story: How student loan servicers are trying to trick you. Also in the news: When to use your debit card instead of credit, saving for your kids’ college education, and tips on getting and staying out of debt. 6 Ways Student Loan Servicers Are Trying to Trick You Pay close attention to every […]