April 21, 2020 By

Tuesday’s need-to-know money news

Today’s top story: What to know before accepting COVID-19 credit card relief. Also in the news: You can now get free weekly credit reports, how to get money to family and friends in a crisis, and what your small business should do with its Paycheck Protection Program loan.

What to Know Before Accepting COVID-19 Credit Card Relief
Beware the fine print.

You Can Now Get Free Weekly Credit Reports — Here’s How to Use Them
Keeping a close eye on your credit.

How to Get Money to Family and Friends in a Crisis
Watch out for fees.

Your small business got a Paycheck Protection Program loan. Now what?
The best ways to strategize.

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April 20, 2020 By

Monday’s need-to-know money news

Today’s top story: Cancel your travel credit card due to Coronavirus? Ask for a retention offer first. Also in the news: What to do when a family member or friend needs money, and before opening a new credit line, check for this restriction.

Cancel Your Travel Credit Card Due to Coronavirus? Ask for a Retention Offer First
Banks don’t want to lose your business.

A Friend or Family Member Needs Money. What Do You Do?
Things to consider before writing that check.

Should College Savers Opt for Student Loans This Fall?
Interest rates have plummeted.

Before Opening a New Credit Line, Check for This Restriction
One word: Iowa.

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April 20, 2020 By

Q&A: Where’s my stimulus check?

Dear Liz: My wife and I are retired and don’t have enough income to file tax returns. How can we get our stimulus checks?

Answer: If you get Social Security checks, your stimulus checks will be sent to you automatically, either via direct deposit if that’s how you get your benefits or paper check.

If you don’t collect Social Security yet and didn’t file a tax return for 2018 or 2019 because your income was below the limit to require filing, the IRS.gov website has more information.

The IRS has started sending out stimulus checks via direct deposit for people who filed 2018 or 2019 returns and provided their bank information. Those who filed returns but did not provide their bank information can follow an IRS “Get My Payment” link for assistance.

Filed Under: Coronavirus, Q&A Tagged With: , , ,
April 17, 2020 By

Friday’s need-to-know money news

Today’s top story: Capital One letting you use miles on takeout, delivery, and streaming. Also in the news: Coronavirus auto insurance refunds – how much to expect, how to school kids on money lessons during the outbreak, and how to check if you’re eligible for food stamps.

Capital One Letting You Use Miles on Takeout, Delivery, Streaming
New categories for reward redemption.

Coronavirus Auto Insurance Refunds: How Much to Expect
Why some insurers are giving money back.

How to School Kids on Money Lessons During the COVID-19 Outbreak

How to Check If You’re Eligible for Food Stamps
Getting assistance during this tough time.

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April 16, 2020 By

Thursday’s need-to-know money news

Today’s top story: Where Coronavirus relief checks go, fraudsters follow. Also in the news: What to do if you’re a U.S. citizen stranded abroad right now, how to strengthen your financial resilience with these 3 insights, and why you should keep paying your federal student loans right now, if you can.

Where Coronavirus Relief Checks Go, Fraudsters Follow
Scammers never take a holiday.

What to Do If You’re a U.S. Citizen Stranded Abroad Right Now
Patience is key.

Strengthen Your Financial Resilience With These 3 Insights
Developing new strategies.

Keep Paying Your Federal Student Loans Right Now, If You Can
Save yourself some interest.

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April 15, 2020 By

Wednesday’s need-to-know money news

Today’s top story: Don’t let your Coronavirus relief check disappear into your debts. Also in the news: How to make your car last 200,000 miles, what kind of credit card relief you can request during the pandemic, and how to check the status of your Coronavirus relief payment.

Don’t Let Your Relief Check Disappear Into Your Debts
How your relief check could be diverted.

How to Make Your Car Last 200,000 Miles
Yes, you read that correctly.

COVID-19: What Kinds of Credit Card Relief Can You Request?
Take the initiative and be prepared to spend a long time on hold.

How to Check the Status of Your Coronavirus Relief Payment
Tracking your money.

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April 15, 2020 By

How to raid your retirement funds in a crisis

In an ideal world, your retirement accounts would be left alone for retirement. You’ve probably noticed that we’re not living in an ideal world.

Early withdrawals can have serious repercussions, including big tax bills today and potential shortfalls in the future. In my latest for the Associated Press, alternatives to consider and what to do if you absolutely must touch your savings.

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April 14, 2020 By

Tuesday’s need-to-know money news

Today’s top story: What to know about buying life insurance during the Coronavirus pandemic. Also in the news: How to earn passive income, deferring a personal loan payment, and how to sell your home during the Coronavirus shutdown.

Buying Life Insurance? What to Know During the Coronavirus Pandemic
It’s not too late for most people to still get coverage.

What Is Passive Income, and How Do I Earn It?
Making money without the pressure of a full-time job.

Can’t Pay Your Personal Loan? Here’s How Deferment Works
The stress relief is only temporary.

How to Sell Your Home During the Coronavirus Shutdown
Get ready to go virtual.

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April 13, 2020 By

Monday’s need-to-know money news

Today’s top story: How to file for Coronavirus unemployment if you’re self-employed. Also in the news: Should you save your miles and points or spend them, 8 ways to switch up the new at-home normal, and a new episode of the SmartMoney podcast on what to do when you owe the IRS.

How to File for Coronavirus Unemployment if You’re Self-Employed

Double Take: Should You Save Your Miles and Points or Spend Them?

8 Ways to Switch Up the New At-Home Normal

SmartMoney Podcast: “Help! I Owe the IRS!”

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April 13, 2020 By

Q&A: Push lenders for student loan help

Dear Liz: I saw your previous column about the federal student loan payments being suspended by the CARES Act until Sept. 30, with interest being waived. I reached out to my loan servicer about my loans and was told that while they are federal loans, they were made before 2010 and are not covered by the relief bill.

Answer: Your experience is an excellent example of why loan servicers have attracted so much criticism in recent years for misleading borrowers about their options.

You should have been told that although your Family Federal Education Loan (FFEL) program loans don’t qualify, you can consolidate your loans through the U.S. Department of Education’s direct loan program and the consolidation would qualify for relief. You can get more information at StudentAid.gov.

Filed Under: Coronavirus, Q&A, Student Loans Tagged With: , , ,