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inflation

Monday’s need-to-know money news

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Today’s top story: Cash advance apps can hurt more than help at the holidays. Also in the news: Lawsuit against Marriott makes hotel pricing math easier, Black Friday 2021 store hours and online hacks, and what to do when inflation cuts into your black Friday deals.

Cash Advance Apps Can Hurt More Than Help at the Holidays
Cash advance apps offer a boost at the holidays, but consumer advocates say they could lead to a cycle of debt.

Lawsuit Against Marriott Makes Hotel Pricing Math Easier
Marriott commits to a policy that would be transparent in the disclosure of mandatory fees like resort fees.

Black Friday 2021 Store Hours and Online Hacks
Many stores are closed for Thanksgiving as Black Friday discounts span weeks rather than just days.

What to Do When Inflation Cuts Into Your Black Friday Deals
Inflation will cut into Black Friday deals this year, but there are strategies you can use to soften the blow.

Wednesday’s need-to-know money news

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Today’s top story:  Prices are skyrocketing, and how to lessen the impact. Also in the news: How to talk to your parents about estate planning, air fryer Black Friday 2021 deals, and why travel insurance is a great holiday gift to yourself.

Prices Are Skyrocketing: Here’s How to Lessen the Impact
Inflation reached a 30-year high in October, according to fresh CPI data from the U.S.Bureau of Labor Statistics.

Why (and How) to Talk to Your Parents About Estate Planning
Help ensure that everything plays out the way Mom and Dad would want.

Air Fryer Black Friday 2021 Deals: Are They Worth It?
Target is discounting a 5-quart air fryer by $60, and Macy’s has air fryers starting at $24.99.

Consider Gifting Yourself Travel Insurance Ahead of the Holidays
Buy yourself some peace of mind by getting travel insurance, either through your credit card or a full policy.

Monday’s need-to-know money news

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Today’s top story: What to do if Chime or other neobanks close your account. Also in the news: A new episode of the Smart Money podcast on fighting inflation and the risks of small mortgage lenders, 6 essential terms to understand in your homeowners policy, and what millennial parents want their kids to know about money.

What to Do if Chime or Other Neobanks Close Your Account
Customers are being left with no way to access their accounts.

Smart Money Podcast: Fighting Inflation and Risks of Small Mortgage Lenders
Learns the ins and outs of inflation.

6 Essential Terms to Understand in Your Homeowners Policy
Words like “endorsements” and “exclusions” don’t need to be confusing.

What Will You Teach Your Kids About Money?
The money lessons five millennial parents around the country want their children to learn

Thursday’s need-to-know money news

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Today’s top story: Smart strategies for fighting back against inflation. Also in the news: Easing into credit cards with a simple cash-back card, Medicare and dental implants, and these 6 psychological biases may be holding you back from building wealth.

Wary of Credit Cards? Ease In With a Simple Cash-Back Card
No-fee, flat-rate cash-back cards offer useful rewards and benefits as beginners learn about credit cards.

Smart Strategies for Fighting Back Against Inflation
Plan purchases carefully and trade variable-rate debt for fixed interest rates to help offset rising prices.

Does Medicare Cover Dental Implants?
Original Medicare doesn’t cover dental implants, but you may be able to find coverage elsewhere.

These 6 psychological biases may be holding you back from building wealth
How to overcome them.

Smart strategies to fight back against inflation

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Few economists predict we’ll return to the double-digit price increases of the late 1970s and early 1980s. But knowing some of the ways consumers coped back then — and how things are different now — can help you formulate a plan to deal with rising prices.

First, a primer: Inflation shrinks your purchasing power, so you need more money to buy the same goods and services. When inflation averages less than 2%, as it did from 2010 to 2020, it would take more than 35 years for prices to double. When inflation averages 5%, which was the annualized rate reported in May, prices would double in less than 15 years. That is a huge deal if you live on a fixed income or are trying to calculate how much you’ll need in retirement.

In my latest for the Associated Press, strategies that may prove helpful.

Thursday’s need-to-know money news

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Today’s top story: What to do if you save too much for retirement. Also in the news: The ins and outs of starting a car, financial pros are hanging on to stocks, and why you need multiple savings accounts.

What to Do If You Save Too Much for Retirement
Saving too much for retirement can cause problems as well as saving too little. Beware of IRS rules and penalties.

So You Think You Know How to Start a Car
It’s become much more complicated

Selling Stocks on Inflation Fears? Financial Pros Wouldn’t
The inflation sirens are wailing, but financial pros say there’s no reason to panic.

Why You Need Multiple Savings Accounts
Multiple accounts make it easier to reach your savings goals.