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Thursday’s need-to-know money news

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Zemanta Related Posts ThumbnailToday’s top story: Protecting your assets from a car accident. Also in the news: Why having a single credit card just for bills can make fraud less disruptive, big tax breaks for homeowners, and last-minute moves to trim your tax bill.

How to Protect Your Assets in the Event of a Car Accident
Paying the heavy price of someone else’s accident.

Having a Just-for-Bills Credit Card Makes Fraud a Little Less Disruptive
Keeping the chaos contained.

7 big tax breaks for homeowners
The amount of money you can save may surprise you.

Last-Minute Moves That Can Trim Your Tax Bill
The clock is ticking.

Thursday’s need-to-know money news

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interest-rates-300x225Today’s top story: How to find the best mortgage interest rate. Also in the news: How to financially prepare for a spouse’s deployment, the biggest credit card mistakes made by millennials, and where to find the best St. Patrick’s Day deals.

How to Score the Best Mortgage Interest Rate
Finding the best interest rate on a mortgage that suits your needs.

How to Plan Financially for a Spouse’s Absence
Getting your finances in order before a spouse is deployed.

The 4 biggest mistakes millennials make when it comes to credit cards
Mistakes that can have long-term consequences.

The Best St. Patrick’s Day Sales and Deals of 2016
There are deals to be found at the end of the rainbow.

Before Filing Your Taxes With IRS, Consider This
There’s such a thing as too much information.

Tuesday’s need-to-know money news

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Zemanta Related Posts ThumbnailToday’s top story: How to prevent identity theft. Also in the news: The costs that are often overlooked when deciding to rent or buy, reasons to file a tax extension, and how you’re using your credit card incorrectly.

How to Prevent Identity Theft
Staying one step ahead.

The Major Costs People Often Overlook When Deciding to Rent or Buy
What you need to taje into consideration.

6 Reasons to File a Tax Extension
Beyond procrastination.

5 Ways You’re Using Your Credit Card Wrong
Bad credit habits you should kick.

6 times it’s more expensive to be a woman
Happy International Women’s Day!

Q&A: Cashing out an IRA to pay off credit card debt

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Dear Liz: I owe about $49,000 on my credit cards and now have the money to pay them off in full. Should I? Or should I slowly pay them in large amounts?

Answer: There’s typically no reason to delay paying off credit card debt. Carrying balances costs you money and doesn’t help your credit scores. You’ll see the fastest improvement if you pay them off in one fell swoop.

The only excuse for delaying would be if this windfall comes from a retirement fund. Cashing out a 401(k) account or IRA to pay off debt is not wise, since you’ll trigger huge taxes and penalties. Add in the future tax-deferred compounding you lose and the total cost is far more than you’ll save in interest.

Friday’s need-to-know money news

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Pile of Credit CardsToday’s top story: The best credit card tips for March. Also in the news: Two smart paths for student loan borrowers, a 401(k) mistake to avoid, and how to get a tax deduction for supporting your child’s school.

NerdWallet’s Best Credit Card Tips for March 2016
Head into spring by maximizing your rewards.

The Road to Being Debt-Free: Two Smart Paths for Student Loan Borrowers
Income-driven repayment plans could make your life much easier.

You could be making this 401(k) mistake
Don’t cheat yourself out of money.

How To Get A Tax Deduction For Supporting Your Child’s School
Those routine school donations can go a long way.