After years of being in debt, Rachel Kramer Bussel came to a realization: “If I don’t become proactive about it, I will be in debt for the rest of my life.” For Bussel, a freelance writer near Atlantic City, New Jersey, that meant scaling back spending and putting any available money toward the debt principal. […]
Recent Blog Posts
Q&A: Why you need to pay attention to your credit utilization
Dear Liz: Our credit scores are in the low 800s. We always pay all credit card balances off before the next billing period. We are presently charging a cruise for us and our daughter and her husband. We’re worried about using too much of our available credit and thus reducing our credit scores. We’re using one […]
This week’s money news
This week’s top story: Smart Money podcast on investing in 2023. In other news: Small-business trends 2023, privacy hacks that may hurt your credit, and how to avoid hotel resort fees. Smart Money Podcast: Your Money in 2023: Investing in the Stock Market This week’s episode is all about investing in 2023. Small-Business Trends: 6 Predictions […]
Q&A: Estate taxes on house bequests
Dear Liz: You recently wrote about the capital gains tax implications when someone sells a house they’ve been given, versus one they’ve inherited. Would you elaborate on the estate ramifications for the donor if that person has a large estate? Would their estate pay tax on the gift? Answer: Few people have to worry about either gift or estate […]
This week’s money news
This week’s top story: How to get paid for surviving the Southwest meltdown. In other news: Smart Money podcast on January money moves, and paying off your mortgage early, 4 ways to improve your odds of meeting new year’s money goals, and the path of mortgage rates prior to Fed meeting. How to Get Paid for […]
Sneaky ways inflation affects your money in 2023
By now, you’re probably familiar with the more obvious ways inflation affects your finances. Your money doesn’t go as far at the grocery store, for example. Credit card and other variable-rate debt is getting more expensive as the Federal Reserve raises short-term interest rates to combat inflation. Rates are also rising, albeit more slowly, on savings accounts. […]