Get smart with your money
Dear Liz: I’m paying down credit card debts. At what ratio of debt to income would you consider my personal finances healthy? Answer: The healthiest level of credit card debt is none. Credit card interest rates tend to be high and variable, which makes this kind of debt toxic to your financial health. Congratulations for […]
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Today’s top story: Turn your quarantine clutter into money. Also in the news: 10 digital banking services changing up checking, what to do when you’re a victim of debit card fraud, and how your stimulus checks will affect your taxes. Turn Your Quarantine Clutter Into Money What to do if you went a little overboard. […]
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Today’s top story: Why you may not want to be an executor. Also in the news: 5 ways to foil catalytic converter thieves, 3 money habits to carry forward from the pandemic era, and how to avoid fees when paying your taxes. Why You May Not Want to Be an Executor Settling someone’s estate can […]
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Today’s top story: Debit card fraud? Act fast to protect your money. Also in the news: How a data nerd tackled buying a house, popular 2021 home upgrades and how to pay for them, and when you don’t need to buy travel insurance. Debit Card Fraud? Act Fast to Protect Your Money When dealing with […]
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Being asked to be an executor is an honor you might want to pass up. Settling an estate typically involves tracking down and appraising assets, paying bills and creditors, filing final tax returns and distributing whatever’s left to the heirs. At best, the process is time-consuming. At worst, it takes hundreds of hours, exposes you […]
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Today’s top story: Why buying life insurance for your parents can make financial sense. Also in the news: A new episode of the Smart Money podcast on the 50/30/20 budget, one person’s no-spending month results, and when to hire a tax professional. Why Buying Life Insurance for Your Parents Can Make Financial Sense Life insurance […]
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Dear Liz: You recently advised a teacher who was inquiring about paying down student debt. You suggested among other things to “have a substantial emergency fund before you make extra payments on education debt (or a mortgage, for that matter). ‘Substantial’ means having three to six months’ worth of expenses saved. If your job is […]
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Dear Liz: My grandson’s wife, 22, was killed in a motor vehicle accident just after her birthday. My grandson, 26, was left with a 2-year-old and 9-month-old. Due to COVID-19, he was staying home with the children, and she was working at a fast-food restaurant. We thought there would be Social Security survivor benefits, but […]
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Today’s top story: How to finally tackle tough money tasks. Also in the news: It’s now easier than ever for your boss to pay your student loans, 6 Black financial pros to follow in 2021, and 3 budgets apps for couples who want to align on money. How to Finally Tackle Tough Money Tasks Completing […]
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Today’s top story: What gig workers need to know about taxes. Also in the news: 5 credit card red flags to avoid, why financial advisors of color matter, and how to prevent stolen tax returns. What Gig Workers Need to Know About Taxes Protect yourself from tax surprises. 5 Credit Card Red Flags to Avoid […]
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