Ask Liz Weston

Get smart with your money

money advice

3 times you need money advice from a human

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You can now manage most aspects of your money without ever consulting another human being. You can budget, borrow, save, invest, buy insurance, prepare your tax return and create a will — among many other tasks — by using apps, websites and software.

But technology still has limitations, especially when you’re facing a money situation that’s complex or involves judgment calls. In my latest for the Associated Press, when to consider consulting a human expert.

Monday’s need-to-know money news

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Today’s top story: What new debt collector rules mean for you. Also in the news: A new episode of the Smart Money podcast on holiday travel and giving money advice to family, what to buy (and skip) on Black Friday, and questions to ask your realtor when selling your home.

What New Debt Collector Rules Mean for You
Find out where they can contact you.

Smart Money Podcast: Holiday Travel and Giving Money Advice to Family
The holidays are almost here.

What to Buy (and Skip) on Black Friday 2020
Start making your lists.

Questions to Ask Your Realtor When Selling Your Home
Important information.

Friday’s need-to-know money news

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Today’s top story: How to give money advice that sticks. Also in the news: 3 steps to spring clean your credit card debt, how to research 401(k) funds on Morningstar, and using a loan to pay your tax bill.

How to Give Money Advice That Sticks
Focus on what you say and how you say it.

3 Steps to Spring-Clean Your Credit Card Debt
Scrub that debt away.

How to Research 401(k) Funds on Morningstar
Navigating the investment research company.

Should You Use a Loan to Pay Your Tax Bill?
Check the interest first.

How to give money advice that sticks

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Unsolicited money advice is like stale fruitcake: Most people wish the givers would just keep it to themselves.

Still, those who are “good with money” often want to help friends and family who struggle. Many of us remember the timely money tip that made all the difference: when a co-worker suggested we contribute to the company’s 401(k), for example, or that time a relative warned us off an investment that really was too good to be true.

In my latest for the Associated Press, I turned to neuropsychologist and executive coach Moira Somers, author of “Advice That Sticks: How to Give Financial Advice That People Will Follow.” Her book was written for financial planners, but the techniques she suggests, backed by behavioral finance research, could be helpful for anyone who wants to give effective money counsel.

Tuesday’s need-to-know money news

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Today’s top story: When good money advice is bad for you. Also in the news: Loyalty program overload, 4 ways socially responsible banks are good for you and your wallet, and why we stress spend during the holidays.

When Good Money Advice Is Bad for You
One size does not fit all.

Loyalty Program Overload? Here’s How to Stay Focused
Making the programs work for you.

4 Ways Socially Responsible Banks Are Good for You and Your Wallet
When your money supports a mission.

Why we stress spend during the holidays — and how to stop
Curbing impulse behavior during the holidays.