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retirement contributions

Friday’s need-to-know money news

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Today’s top story: Why traditional credit scores still matter. Also in the news: Staying ahead of travel scams, banks still playing with financial fire, and the benefits to maxing out your retirement contributions early in the year.

Newfangled Data Aside, Credit Scores Still Matter
Those 3 numbers still reign supreme.

Stay a Step Ahead of Travel Scams
Traveling safely.

After ’08 Meltdown, Banks Still Play With Financial Fire
And we’re the ones who get burned.

Should You Max Out Your Retirement Contributions Early in the Year?
A new study shows interesting results.

A game plan for grads struggling with new loan payments

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Student-LoansAn improved economy and lower unemployment should reduce the number of recent college graduates who default on the federal student loans they are supposed to start repaying when their six-month grace periods expire – as soon as November for May graduates.

Inevitably, though, some will fall behind even though there is no good reason to do so. Their credit scores will be crippled and they will risk the government garnishing their wages and seizing their tax refunds.

In my latest for Reuters, how new graduates can handle their new loan payments and protect their credit.

At MoneyWatch, the five things you should know about disaster insurance, and the IRS retirement plan contribution limits for 2016.