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Tuesday’s need-to-know money news

July 2, 2019 By Liz Weston

Today’s top story: Dodge dealership dread with online used car sellers. Also in the news: What first-time home buyers should know about fixer-uppers, how to save for the future when it’s uncertain, and how long it takes for paid debt to be reported to credit bureaus.

Dodge Dealership Dread With Online Used Car Sellers
Car shop from your couch.

What First-Time Home Buyers Should Know About Fixer-Uppers
Don’t get trapped in a money pit.

How to save for the future when it’s uncertain
An emergency fund is crucial.

Here’s How Long It Takes for Paid Debt to Be Reported to Credit Bureaus
Be patient.

Filed Under: Liz's Blog Tagged With: Credit Bureaus, debt, emergency funds, first-time home buyers, fixer-uppers, paid debt, Savings, used car shopping

Monday’s need-to-know money news

July 1, 2019 By Liz Weston

Today’s top story: 3 sites to help aging parents organize vital details. Also in the news: How much you’ll really pay for that student loan, financial records to keep in your “go bag”, and online games that encourage savings.

3 Sites to Help Aging Parents Organize Vital Details
Keeping important documents straight and accessible.

How Much You’ll Really Pay for That Student Loan
The totals can be shocking.

Keep These Financial Records in Your ‘Go Bag’
Documents to have in case of an emergency.

People are paying to play online games that encourage them to save
Contradictory? Or incentivizing?

Filed Under: Liz's Blog Tagged With: financial documents, online games, Savings, seniors and money, Student Loans

Friday’s need-to-know money news

May 3, 2019 By Liz Weston

Today’s top story: What not to buy for your vacation. Also in the news: How to tidy up your finances so each dollar sparks joy, how to save on road trips, and how your retirement savings compares to others in your age group.

What Not to Buy for Your Vacation
What to buy to save money and time.

‘Tidy Up’ Your Finances So Each Dollar Sparks Joy
The Marie Kondo effect.

How to Save on Road Trips
Don’t blow all of your money on fuel.

Find Out How Your Retirement Savings Compare to Others in Your Age Group
Are you ahead or behind?

Filed Under: Liz's Blog Tagged With: Marie Kondo, retirement savings by age group, road trips, Savings, vacation tips

Tuesday’s need-to-know money news

April 23, 2019 By Liz Weston

Today’s top story: In the points and miles game, blind loyalty can cost you. Also in the news: The best mortgage lenders with no origination fee, how a personal loan affects your credit score, and how thinking like an optimist could help you save more.

In the Points and Miles Game, Blind Loyalty Can Cost You
You could end up losing the points game.

Best Mortgage Lenders with No Origination Fee of 2019
They’re not easy to find.

How Does a Personal Loan Affect Your Credit Score?
A chance to improve your score.

To Save More, Think Like an Optimist
The saving power of positive thinking.

Filed Under: Liz's Blog Tagged With: airline miles, Credit Scores, mortgage lenders, origination fees, Personal Loans, rewards, Savings, travel rewards

Thursday’s need-to-know money news

April 4, 2019 By Liz Weston


Today’s top story: Why you should love robo-advisors. Also in the news: 7 ways to trim your tax bill in retirement, how Roth IRA taxes work, and how to save money for the future when it’s uncertain.

Why You Should Love Robo-Advisors
Keeping costs low and advice honest.

Taxes in Retirement: 7 Ways to Trim Your Bill
Ideas that can reduce financial stress in retirement.

How Roth IRA Taxes Work
A good investment at tax time.

How to save for the future when it’s uncertain
Preparing for a variety of outcomes.





Filed Under: Liz's Blog Tagged With: Retirement, robo-advisors, Roth IRA, saving for the future, Savings, Taxes

Q&A: Here’s a big mistake to avoid when planning your wedding

April 1, 2019 By Liz Weston

Dear Liz: Would you advise taking money out of your 401(k) for your wedding if you’re getting a lump sum of money within the same year and can pay the full amount back?

Answer: How about postponing the wedding until you can pay for it in cash?

That would be so much better than starting your life together “betting on the come” — in gambling parlance, counting on cards that haven’t yet been dealt into your hand. There are so many ways that can go wrong and only a few where it can go right.

The most obvious risk in borrowing from your 401(k) is that you will lose your job and won’t be able to pay back the money before the balance is deemed a withdrawal, incurring taxes and penalties. Plus, you can’t put the money back, so you’ve lost all the future tax-deferred compounding those savings could have earned.

You’re also setting a seriously bad precedent for your marriage when you borrow money for a luxury, which is what a wedding is. (You also might want to read the Emory University study that found the duration of a marriage was inversely proportional to how much was spent on the engagement ring and wedding. The more spent, in other words, the shorter the marriage.)

It’s easy to get in the habit of borrowing rather than making hard choices or having hard discussions. But a good marriage, and sound finances, requires plenty of both. Give yourselves the gift of a wedding you can afford, when you can afford it.

Filed Under: Couples & Money, Q&A Tagged With: Savings, wedding planning, weddings

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