Visa’s Practical Money Matters column delivers expert personal finance tips to consumers of all ages in English and Spanish. The article series has been syndicated nationwide in 500 U.S. newspapers and a Huffington Post blog. Topics include saving, budgeting, credit & debt, life events, taxes, retirement, insurance and more.
Summer is here and millions of Americans will be taking their annual vacations. There are some simple steps you can take to make sure your vacation lives up to your dreams and doesn’t devolve into a fiscal nightmare.
You probably get numerous credit card offers every month. Many list terms that sound too good to be true, which often means they are: 0 percent interest, huge credit limits, free rewards — the list goes on.
It's hard to fathom how much the financial industry has changed in the past several decades. Before the first charge card was introduced in 1950, "cash and carry" was pretty much the rule for most purchases. Prior t...
By the summer, many of us have forgotten about our New Year’s Resolutions. We’ve either successfully lost those 10 pounds, or given up until next January. But you still have several months to make good on your pledges, ...
My parents never talked about money at home and like so many of us, I had to learn about it on my own, often making youthful mistakes along the way. Take this opportunity with the kids home from school this summer to in...
It's hard to believe "back to school" season is right around the corner, but that's what store displays have been telling us for weeks. Before blindly opening your wallet, take a few moments to form a plan of at...
One of today’s fastest-growing and most ominous crimes is identity theft, where someone steals your personal information and uses it to open a bank account or loan, make purchases, secure false identification, or commit...
As parents, what we say and do regarding money can profoundly influence our children’s future financial habits. That’s a sobering thought for those of us who may not have always made the best financial decisions in our ...
Sometimes the easiest way to interest your children in something is to turn it into a game - whether it's getting a toddler to eat breakfast or entertaining a carload of third-graders. But when the topic is even remotel...
Forty billion dollars. That's how much crooked telemarketers steal from Americans each year, according to the National Consumers League; and 56 percent of those victims are over age 50, says the American Association...
For millions of Americans, workplace benefits open enrollment for 2007 is just weeks away. Consider this: By simply checking "same as last year" on your enrollment form, you may miss an opportunity to save hundreds of d...
Managing your personal finances can be a constant juggling act where car payments, a mortgage and college savings all compete with daily expenses. Despite today’s pressing needs, don’t lose site of tomorrow&...
College students have many sound reasons for getting a credit card: It’s a good way to start building a solid credit history, safer than carrying large amounts of cash and can be a lifesaver in an emergency. But inexper...
Many people will go out of their way to avoid talking about illness, death and money, especially when aging parents are concerned. But the reality is, we all get older and eventually need help from others. The more prep...
For women, it’s a classic "good news, bad news" scenario: The good news is, on average women live seven years longer
than men; the bad news is, there’s a strong possibility they may have less money to live on during...
Many people are so accustomed to frequent credit offers that when an application is denied, they’re shocked. Damaging credit report information or overextended borrowing are usually the culprits. Warning signals for deb...
I hate paying bills. It’s not just saying goodbye to my money that hurts, but the tedious routine of writing and mailing checks. I’ve also experienced a few late fees when payments got stuck at the post office and didn’...
In my family, the holiday season is more than just a time for gift-giving and elaborate meals. It’s also when we make charitable contributions to help others who are less fortunate. My kids get in on the act and we all ...
Like most new parents, my wife and I felt a full range of emotions while she was pregnant: joy, relief, and anticipation combined with nervousness, anxiety, and downright fear.
Now that the leftover turkey is gone, you’ve probably moved on to the next seasonal event – holiday spending. Between gifts, entertaining and travel, many of us spend considerably more than we’d planned, let alone budge...
As hectic as life is at this time of year, if you can spare a few minutes I have a few suggestions that could save you a lot of money if you act quickly before the 2006 tax year ends.
When my wife and I signed our first mortgage in 1999, we had to keep convincing ourselves we were doing the right thing. Renting was safe, but buying a home was a major commitment with many big risks. We had long weighe...
I’ve learned the hard way that although New Year’s resolutions can be a great way to make a fresh start, if you set unrealistic goals they’ll likely fizzle out after a few months. Sometimes small steps are the answer, b...
I’d rather get a root canal than go car shopping. How to choose among so many models, options and financing alternatives? But it’s worth a little homework to make sure you get a car you like and can truly afford; plus, ...
I know people who love their careers and can’t wait to go to work each day. And I know others who hate their jobs and feel underemployed, underpaid or overworked. No matter where you fall in that spectrum today, someday...
Benjamin Franklin once said, "Nothing can be said to be certain, except death and taxes." Although I don’t have any updates on the former, at least where taxes are concerned I do have some positive news:
Many American teenagers seem to have a cell phone permanently glued to their ear. With more than 200 million U.S.
cell phones now in use, they’re clearly not going away, especially as cell phone manufacturers and se...
There’s a lot of confusion around credit reports and credit scores – what they’re used for, how they’re calculated and why they’re so important if you want to buy a car or house. Lenders and insurers review your credit ...
You'll likely face many major decisions to make when you're ready to take the homeownership plunge, not the least of which is choosing the right kind of mortgage for your needs. Mortgage options use...
It used to be, you’d work hard your whole life, then retire with a gold watch and a few good years left to visit the Grand Canyon, spoil your grandchildren and get hooked on daytime TV. Pension plans were the rule not t...
One of the hardest parts of parenting is allowing your children the freedom to learn from their own mistakes. We all want to protect our kids from harm, but if sheltered too much, they won’t be ready to deal with real-w...
My friend Carol recently turned 50. Along with birthday cards she also received an invitation to join the American Association of Retired Persons (AARP). After simmering down, Carol visited their Website,
I don’t want to date myself, but when I went to college, tuition was much more affordable and it was nearly impossible for students to qualify for credit cards and car loans. What hasn’t changed since then, however, is ...
Unless you pay cash for everything, you’re impacted by interest – either as a lender or as a borrower. Understanding the different types of interest can give you a clearer picture of how your money accumulates and what ...
When it comes to filing taxes, some of us are ants and some are grasshoppers. Ants methodically file receipts all year in color-coded folders and on January 2 they calculate their refund; grasshoppers shove everything i...
Like most Americans, you're probably reeling from your winter heating bills and hoping spring comes soon. I spoke with some insiders at a major utility company about ways consumers can conserve energy – and cut util...
I hate writing checks for automobile insurance. It always seems like money down the drain – that is, until you need it; then, insurance can be a lifesaver. But that doesn’t mean you shouldn’t try to get the best deal po...
Have you tried helping your children with their homework lately? It’s amazing how much information they’re able to absorb. But some would say we’re doing our kids a disservice by not emphasizing more s...
For many of us, the agony of filing taxes each April is partially offset by knowing that a few weeks later we’ll get a nice refund from Uncle Sam (assuming you don’t have to write him a check). Last year, nearly 70 perc...
Like many people, I often take my health for granted. I plan to work for many more years, but you never know: Studies have shown that Americans of all ages are more likely to become disabled in a given year than to die,...
You may have heard people refer to "good debt" and "bad debt." Ideally, we'd have no debt at all because we'd be rich enough to never need a loan. But few of us belong to that exclusive club, so sometimes we tak...
Mother's Day has been around in one form or another since ancient Greece. Mothers (and wives and grandmothers) deserve heartfelt thanks for tackling one of the hardest jobs on the planet. But rather than simply taki...
During graduation season millions of college (and high school) seniors will march on stage in graduation caps and gowns to the relieved cheers of parents and friends. Many have already lined up a job in their chosen fie...
It seems like everyone I know works longer hours and has more responsibilities than ever before. Some people say the only thing that keeps them sane is thinking about their vacation.
Many people recall their wedding day as one of their happiest, filled with cherished memories and promises of a bright future. But at an average cost of more than $27,000, it’s not surprising that some weddings start co...
During graduation season millions of college (and high school) seniors will march on stage in graduation caps and gowns to the relieved cheers of parents and friends. Many have already lined up a job in their chosen fie...
Father's Day is almost upon us. This year, along with the traditional necktie or dozen golf balls, why not give your dad something that will make him feel like he's truly taking care of his family and watching o...
Probably the last thing college students want to do during summer break is absorb any new information. But if you can prevail on your kids, I've got a subject that’ll provide a lifetime of A's for their financia...
Nothing strikes more fear in an unorganized person's heart than tax season, when you pay dearly for a year's worth of stashing bills, receipts and other papers in a shoebox. I know, because I'm a recovering ...
When it comes to getting a new car, many people wrestle with whether to lease or buy. Both methods have advantages and disadvantages, so it's important to understand your needs and payment habits before signing on t...
It used to be that only the wealthy consulted financial planners for advice on estate planning, investments and tax shelters. But with tax laws becoming increasingly complex, more people investing in the stock market th...
If you can remember when the Beatles first sang “When I’m 64,” you’re probably fast approaching retirement or already there. When Paul McCartney wrote, “We shall scrimp and save,” how...
Statisticians say the odds of winning the lottery are about the same as being struck by lightning. There are many other, smaller financial windfalls you're much more likely to experience – everything from tax refund...
You can hardly watch or read the news without hearing about the latest scam to separate folks from their hard-earned money. As criminals become increasingly more sophisticated, their schemes are more difficult to spot. ...
Shortly after our first child was born, my wife and I realized we needed to remodel our kitchen and family room to accommodate our new family focused lifestyle and our new arrival. But, like most first-time remodelers, ...
Few phrases inspire greater dread for my seven-year old than, "back to school shopping."No doubt the same holds true for many other parents who must spend precious summer hours – and hundreds of dollars – on shopping ex...
If you've got a freshman heading off to college, you're probably scrambling to teach him or her how to cook macaroni and cheese and do laundry without turning everything pink. But there are other important lesso...
For 77 million baby boomers rapidly approaching retirement, long-term elder care is no longer an academic concept – it's becoming a reality. Many of us already deal with elder-care issues for our parents.
Raising a family is one of the most rewarding and fulfilling experiences in life, but also one of the most expensive. According to a U.S. Department of Agriculture survey, a typical middle-income family will spend nearl...
I lived paycheck to paycheck during my early twenties. Saving didn't seem feasible there were just too many expenses. And, like many, during my early workforce years I neglected to have a portion of my paycheck auto...
That anguished roar you hear is the sound of millions of students returning to school after summer break. As a parent, you might feel relief that teachers are taking over the reins, but hold on: School may be the best p...
Not to sound like Dear Abby, but the key to maintaining any sound relationship, whether friendship, business or marriage, is open and honest communication. This becomes doubly important when finances are involved &ndash...
If you're among the nearly 44 million Americans eligible for an employer-provided pension plan, consider yourself lucky: Since 1980, such plans have decreased by nearly 80 percent. And, while more companies now offe...
Like death and taxes, rising health care costs are unavoidable. In fact, you've probably seen your medical insurance premiums increase several times in the past few years. A little careful planning can help you ease...
As we prepare to honor our armed forces on Veterans Day, it's appropriate to address the financial challenges often faced by those who defend our country. Far too often, military families face daunting financial dif...
In the 1970s-era spy thriller "The Day of the Jackal," a would-be assassin steals the identities of several dead people to further his plan to kill French President Charles DeGaulle. Unfortunately, this once-shocking pl...
We all know we should set aside money for a rainy day, a house down payment or retirement, but there are always a million reasons why we can't. If this sounds familiar, remember this: To get ahead, you either need t...
America's once red-hot housing market has cooled off considerably. Prices are down, unsold housing inventory is up and mortgage lenders have tightened credit standards.
Americans lead the world in charitable giving. In 2006 alone, we gave a record $295 billion, of which 76 percent came from individuals. That doesn't even count time spent volunteering, which some sources value at $1...
At this time of year, most people fall into two types: Those who look forward to the holiday season, and those who dread it. Many people end up in the latter camp because of money worries. You know how easy it is to ove...
Are you stumped for ideas on what to get your children for holiday gifts? Join the club. When I was a kid, my folks had far fewer gift choices for me: board games, a bicycle, or maybe the dreaded long underwear. Today, ...
Maybe it's a sign of approaching middle age, but as the world becomes increasingly unpredictable, I instinctively seek out security for my family wherever I can; not just physical safety, but financial protection as...
Few things bug me more than unsolicited telemarketing calls - especially on the weekend. That's why my family registered our home and cell phone numbers with the national Do Not Call list administered by the Federal...
People choose self employment for a variety of reasons: To escape corporate bureaucracy, flex their entrepreneurial spirit or simply put food on the table after being laid off. Nearly 11 million Americans work for thems...
In this era of big-box discount stores, it's practically a badge of honor not to pay full price for anything. A similar philosophy reigns when it comes to paying taxes: Yes, we should all shoulder our fair share, bu...
You'd never want to compound your loved ones' misery should you become seriously ill or die, but that's exactly what might happen if you haven't adequately planned for your future care and the distributi...
It's no secret that the bubble has fully burst in the real estate market and that millions of homeowners are facing severe financial hardships as home values drop and adjustable mortgage rates shoot upward.
If you've procrastinated about signing up for your company's 401(k) retirement savings plan, you're not alone: About one-third of eligible employees haven't enrolled, even when their employer offers matc...
We’ve all felt first-hand the painful impact that record oil prices have had on home heating and driving expenses this winter. You’ve also likely seen price hikes on just about everything else as fuel-related shipping a...
Anyone who’s retired or living on a fixed income knows how difficult it is to keep up with skyrocketing health care, fuel and food costs. And, with today’s longer lifespans, many of us will need to keep our eye on the b...
If you're a renter and there's an accident or burglary, the landlord's insurance will pick up the tab, right? Not true. Landlords usually only insure the building structure itself, so you're responsible ...
The days when most folks joined a company right out of school and remained until retirement are long gone. Today, people intentionally change jobs numerous times during their lifetimes. Unfortunately, such changes aren&...
More and more seniors unable to keep up with escalating living expenses have begun exploring reverse mortgages, where they draw equity from their paid-off homes and continue living there with no monthly payments.
More and more seniors unable to keep up with escalating living expenses have begun exploring reverse mortgages, where they draw equity from their paid-off homes and continue living there with no monthly payments.
Aside from getting a root canal or visiting the DMV, few activities are more unpleasant than filing income taxes. It gets more complicated every year and what's worse, if you've put off organizing your paperwork...
Between skyrocketing prescription drug prices, rising insurance copayments and an aging population, it's not surprising more and more people are having difficulty paying for their medications.
Paying bills used to be pretty cut-and-dried: Each month, you'd sit down with your checkbook, write a bunch of checks and drop them in the mail. Once in awhile you might accidentally bounce a check because of a math...
If you're a parent looking forward to having an empty nest, you may need to adjust your expectations. Faced with burgeoning student loan balances, high rents and a stagnant job market, increasing numbers of adult ch...
Start checking your mailbox in early May. That's when more than 130 million Americans should begin receiving big checks from Uncle Sam, thanks to the $168 billion Economic Stimulus Act of 2008 passed by Congress and...
Children growing up during the Great Depression watched their parents struggle against extreme hardships. But the "scrimp and save" mentality they learned slowly waned as Baby Boomers and Generation Xers found it easier...
Each year, roughly 70 percent of Americans get an income tax refund. Thanks to the Economic Stimulus Act of 2008, beginning in early May most also will receive an additional tax rebate check of up to $600 (up to $1,200 ...
Have you ever wasted precious weekend hours searching for tax-related documents? If the television died, could you locate the warranty to see if it's still covered? Ever forgotten an online account password? These a...
As Mother's Day approaches, it's worth noting that most women still face significantly more hurdles to achieving financial security than do men, especially at retirement. A few statistics say it all:
Anyone who's graduated from college understands the relief of leaving behind years of cramming for exams and living on dorm food. With the next chapter of their lives now at hand, this year's grads deserve kudos...
If you're among the 45 percent of Americans who've already written a will, you may think you've done everything necessary to ensure a smooth transition of your assets to your heirs. Not necessarily.
As Mother's Day approaches, it's worth noting that most women still face significantly more hurdles to achieving financial security than do men, especially at retirement. A few statistics say it all:
Nothing erases the glow of a honeymoon faster than money woes. In their haste to live happily ever after, many couples don't do their homework before the ceremony and then are unpleasantly surprised to learn they...
Sharply rising gas prices are taking their toll on almost every aspect of our lives, from filling up the gas tank to shelling out more for food and other commodities. If you've started planning your next vacation, y...
Summer's almost here and you know what that means: warmer days, longer evenings and endless choruses of 'there's nothing to do.' Before you park your kids in front of the TV or at the mall, consider a fe...
Many people find it increasingly difficult to make ends meet in today's troubled economy, whether because of mortgage woes, high fuel costs, job insecurity or other financial problems. If that weren't bad enough...
I hope this is one column you'll read and say, "Whew, I'm glad that doesn't apply to me." I'm talking about what can happen when someone's debt spirals out of control and they don't know where to...
I hope you're sitting down. According to an annual study by the USDA, the average cost for a middle–income family to raise a child born in 2007 until age 18 is estimated at a staggering $204,060. And that does...
Since its creation in 1935, Social Security has provided countless Americans with a degree of financial stability through its retirement, disability and survivor benefits. While never intended to fully support people wh...
You probably began 2008 with the best intentions: lose a few pounds, reduce debt, start saving for college or retirement. You may have even written New Year's resolutions and started working on them. But you get bus...
Many people refuse to contemplate their own death, while others take great comfort in planning every funeral detail ahead of time. No matter where you fall in this spectrum, there are several factors you should consider...
As the economy continues to falter, many people find themselves trapped in financial limbo: unable to cover their bills (such as adjustable rate mortgages) and not qualified for more favorable interest rates that could ...
The news at the pump is grim: With the average cost of a gallon of gas well above $4 and rising, people are asking, "What happened?" Unfortunately, there is no simple answer. But here is what government and industry exp...
It usually bugs me when retailers start hawking events months before they happen – like selling Halloween candy before Labor Day or displaying barbeque grills while it's still freezing outside. But sometimes a...
Forget the birds and the bees: One of the most difficult – yet most important – discussions you can have with your children before they head off to college concerns the financial facts of life. Because a few...
The current housing crisis and other economic woes are taking their toll on people's wallets. Caught between escalating mortgage payments and rising fuel and food costs, many folks are having difficulty paying their...
Divorce is often referred to as the No. 2 most stressful life event, second only to death of a spouse. And no wonder: Besides its obvious emotional impacts, getting divorced can also be a financial nightmare as you'...
Fifteen years ago, only a few million Americans carried debit cards. Today, more than 80 percent of us use them to withdraw cash, pay bills and make purchases at stores, restaurants and other merchants worldwide.
If you're among the hundreds of thousands of people expected to retire or be discharged from the military in the next few years, you're no doubt aware that you'll face many changes – and challenges &nd...
When budgeting how much money they'll need for living expenses after retirement, most folks generally include things like housing, medical expenses, transportation – even food and entertainment. But sometimes ...
It's pretty hard to ignore the environmental crisis our world faces today. You've probably already begun altering your behavior in response, whether by recycling, planting trees or simply driving less.
As college costs have escalated in recent years, students increasingly depend on their parents to help foot the bill: According to a recent consumer survey conducted by Visa Inc., nearly a quarter of those who attended ...
In these tough economic times, many people are seeking ways to stretch their buying power. Although cutting back on purchases and avoiding extravagances make sense, another good strategy is to look for ways to trim your...
If you've already retired or plan to in the near future, it's a good idea to review your health care coverage to make sure it has kept pace with your changing needs. Adequate health insurance is a vital componen...
Tens of millions of Americans don't have access to checking accounts or credit cards, which can make it difficult for them to cash their payroll or government-provided benefit checks, pay bills, withdraw cash an...
Tens of millions of Americans don't have access to checking accounts or credit cards, which can make it difficult for them to cash their payroll or government-provided benefit checks, pay bills, withdraw cash an...
One interesting – albeit non-scientific – way to gauge someone's comfort level with the state of the economy is to ask how much they plan to spend on holiday gifts. In good times, people tend to spen...
Among the most valuable financial wisdom you can teach your kids is how to harness the power of compounding. This life lesson is best learned early because the payoff grows exponentially the sooner you start practicing ...
If your employer provides a traditional pension plan you are part of a vanishing breed. According to the Department of Labor, only about 20 percent of private sector workers are covered by pensions today, about half the...
During the holiday season, many people reflect on what they can do to help those less fortunate. In 2007, caring
Americans gave a record $306.4 billion in charitable donations – which doesn't even include ...
December is the year's busiest month for many people, with holiday-related shopping, socializing and travel cutting into already hectic schedules. It will be tough, but try to set aside some time before year'...
One of the fastest growing segments of America's workforce is the self-employed. Being your own boss can be
liberating, but it's also hard work: Many bothersome details your employer used to handle becom...
An estimated 47 million Americans live without health insurance. Even among those fortunate enough to have coverage, many struggle to pay ever-rising monthly premiums, while still others worry about losing health be...
Many folks are happy to see 2008 fade into the distance. Between the rollercoaster stock market, tightening credit availability and falling home values, most of us have taken a financial beating.
About the only upside when the cost of living increases is that every year the IRS readjusts personal tax exemptions, standard deduction amounts and retirement account contribution limits. It's not like winning the ...
As it does every year, Super Bowl mania is sweeping the nation. In a recent survey of Visa Inc. cardholders, more than 60 percent said they would be inviting family and friends over to watch the game, spending an averag...
As anyone who's applied for a new loan lately knows, if you don't have a gold-plated credit history, you may have a tough time borrowing. And even many 24-karat consumers are being turned down. Lenders h...
In many families, personal financial details aren't always shared freely, especially between generations. But if you're not familiar with your parents' financial situation, you may be doing them – and ...
One of the few bright spots in the current financial crisis is that the government has reinstated federal tax credits for a variety of energy-efficient home improvements you make in 2009. They also extended deadline...
When it comes to children's allowances, many parents struggle with which approach to take. Some link allowances to completion of chores; others feel they shouldn't be tied to completing tasks, but rather, be an ...
We all know we should set aside money for a rainy day, a house down payment or retirement, but there are always a million reasons why we can't. If this sounds familiar, remember this: To get ahead, you either need t...
You've got to hand it to our military personnel: Not only are they often put in harm's way, but they must contend with a host of issues that would be tough under the best of circumstances, including low pay scal...
Be forewarned: Income tax season is upon us. Procrastination is probably never a good thing, but when it comes to the IRS, it can be downright expensive. To help keep you on track, I've compiled a few suggestions th...
Thanks to the rocky economy, most people's retirement savings have taken a beating in the past year. In fact, many folks have been forced to postpone retirement because of their shrinking nest eggs. And, those who&...
More and more Americans are filing, and paying, their taxes electronically. The IRS projects the number of individual tax returns filed electronically in 2009 to exceed last year's record of nearly 90 million taxpay...
If you've ever been laid off from a job, you know how paralyzing it can be to worry about what to do next. Because you may not find a new position right away – especially in this economy – here are sever...
Some people looking to reduce expenses drop or trim their insurance coverage, gambling that they won't become sick, have a car accident or suffer a fire or other catastrophe. Unless you've got unlimited savings,...
The 2009 economic stimulus bill President Barak Obama signed into law on February 17, 2009, is a whopper, not only in cost ($787 billion) and length (1,070 pages), but also in terms of the vast number of spending and ta...
It's no news flash that people who invest in the stock market saw their account values drop significantly in the last six months. For those already retired or fast approaching, the impact was especially painful, sin...
By simply flapping its wings, a butterfly in the Amazon rainforest can set off an atmospheric chain reaction that will eventually trigger a tornado in Texas – or so says a popular, if highly implausible, explanati...
With Mother's Day just around the corner, wouldn't you like to show your appreciation in a way that's more meaningful than buying your mom a box of chocolates or a bunch of flowers?
These are interesting times for potential car buyers. Because so many people have become wary of the faltering economy and are avoiding auto showrooms, nervous car manufacturers have been slashing prices, issuing rebate...
Forget college – just paying for your kid's senior year in high school can break the bank if you haven't planned carefully. While it's always a challenge to deny your kids enjoyable experiences, today&...
Financing college is becoming a little easier, thanks to the 2009 economic stimulus bill. For 2009 and 2010 – perhaps longer, pending Congressional approval – several education assistance programs are being ...
In the old days, if you paid cash for everything and carried no debt, you were considered a great prospect for a mortgage or car loan. Fast forward a few decades and the rules have changed considerably.
One of the first things many people trim from their budget during economic downturns is vacation. That's unfortunate because stressful times are when we most need to recharge our batteries. Taking on additional debt...
Unfortunately, as people become increasingly desperate during tough economic times, crime rates rise. What's worse – those being targeted are often in dire financial straits themselves.
People often say mothers have the hardest job in the world – and I wouldn't dispute that. But being a father might be the second hardest job in the world. And becoming a dad for the first time is a challenge f...
One way the government hopes its 2009 economic stimulus plan will help jumpstart the economy is by investing billions of dollars in industries that support energy efficiency – everything from electric car battery ...
There's no getting around it: Baby boomers are officially middle-aged. Millions of Americans born in 1959 will turn 50 this year; and many boomers born right after World War II have already begun receiving Socia...
When people hear the word "contract," some start daydreaming about signing a multimillion dollar deal with the NFL while others recall how their knees shook the day they signed that first car loan. If you think about it...
Boomerang kids. You've probably read articles about them or may even have one yourself. That's where parents reopen their formerly empty nests to adult children who are trying to pay off student loans or bills, ...
"If it sounds too good to be true, it probably is."
How many times have you heard that expression? Even in favorable economic times, otherwise cautious people can be duped by get-rich-quick schemes or inve...
Many folks plan summer vacations that involve a lot of driving. For those sticking close to home, gas and maintenance are usually the biggest car-related expenses. But if you're planning to rent a car at your de...
As we move through one of the most financially tumultuous years in many decades, some economists feel the worst may be over. But today's continuing high unemployment rates, troubled housing market and tight credit c...
When the stock market and housing prices were soaring not so long ago, many baby boomers figured they could retire early and live comfortably on their profits. Today that situation has reversed: Many folks are now postp...
As back-to-school shopping veterans, my wife and I have learned our share of money-saving tricks – plus methods to lessen meltdowns and frayed nerves that come with the territory. If you are new to thi...
In this challenging economy, many people have curbed discretionary expenses like vacations, entertainment and shopping excursions. Unfortunately, many folks – even those with medical insurance – are also cut...
People naturally procrastinate when faced with difficult decisions. Take planning for your own demise: Only 40 percent of people recently polled by Visa Inc. have an up-to-date will.
One small silver lining from the recent economic downturn is that people have begun saving again. For decades personal savings rates hovered around 10 percent of after-tax income, but beginning in the late 1980s, rates ...
I have friends who swear by online social and professional networks like Facebook, MySpace and LinkedIn. Where else can you reconnect with long-lost former classmates, post vacation photos for friends around the wor...
Until you get in the habit, putting aside savings is never easy. But the sooner you start, the sooner you'll start seeing results. As you'll see below, when it comes to savings, time is your best friend:
You've probably already thought about how you'd like to share your assets with relatives, friends and favorite charities when you're gone, whether it's money you've saved, your home, or family heirlo...
The past year has been rough financially for many folks. You probably know people who have lost their jobs, seen their retirement savings evaporate or experienced home foreclosure – you may even be in a tough spot...
Suppose your teenager came to you needing help answering homework questions on finance – would you be able to answer correctly or know where to find help? Consider questions like these:
In the depths of the recession the government passed the 2009 economic stimulus bill and tweaked the federal tax code to help boost consumer spending and assist people who were losing their jobs, homes and benefits. Now...
Many employers will soon be offering open enrollment for next year's employee benefit coverage. Wading through all that paperwork is a sure-fire cure for insomnia, but considering how much is at stake, you may want ...
Prescription drug costs can take a double toll on retirees, who often live on fixed incomes and are also likely to need more – and more costly – medications as they get older. That's why the government c...
In the midst of the holiday hustle and bustle, try to carve out a few moments for some year-end financial housekeeping. You may be able to save enough money using available tax breaks to pay for all your holiday nee...
When I was a kid, Christmas club savings accounts were quite common. Like their close cousin, the layaway plan, these accounts encouraged people to start saving far in advance for expenses they knew were coming.
Getting the most bang for your buck is a badge of honor these days, whether you're car shopping, choosing a college or just comparing loaves of bread. One area where you really don't want to misspend your hard&#...
Reverse mortgages have become an increasingly popular way for seniors to keep pace with rising expenses. Typically, people borrow against their home equity and continue to live in the home with no monthly mortgage payme...
At this time of year, many people pause to reflect on what they’d like to change about their lives going forward – lose a few pounds, take a class, spend more time with the kids. Often, these goals revolve a...
For many professions, the price of admission is higher education. Unfortunately, college degree costs have skyrocketed, so people often to enter the workforce saddled with massive student loans and monthly loan payments...
Proverbs survive because of their universality. Take the adage, “One bad apple spoils the barrel.” It teaches us that good people (or good businesses) can be tainted by association with those whose actions a...
When deciding whether to save for retirement using a traditional or Roth IRA, many people wrestle with the question, “When I retire, will my tax rate be higher or lower than it is today?”
When deciding whether to save for retirement using a traditional or Roth IRA, many people wrestle with the question, “When I retire, will my tax rate be higher or lower than it is today?”
A key feature in last year’s economic stimulus bill was the federal income tax credit designed to help first-time homebuyers. Now, as part of legislation signed by President Obama in November 2009, that tax cre...
If you’re plagued by winter drafts and high heating bills but can’t afford to weatherproof your home, the U.S. Department of Energy’s (DOE) Weatherization Assistance Program (WAP) just might be able to...
People stash their money in safe havens such as savings accounts, Treasury Bills and Certificates of Deposit for a variety of reasons. It could be fear of losing money in the stock market, the security of knowing their ...
Although not as unique as fingerprints or snowflakes, credit scores are highly individualized – and often mysterious. Many factors determine your score, which can change overnight depending on everything from last...
Earlier this decade, headlines blared that trillions of dollars soon would begin changing hands in the largest wealth transfer in history, as depression-era parents began passing along their nest eggs to Baby Boomer off...
April 15 is right around the corner. If a chill just went down your spine, chances are you haven't yet organized your income tax paperwork, let alone filed your return.
One major piece of legislation President Obama signed last year was the Credit Card Accountability, Responsibility and Disclosure (CARD) Act, which made fundamental changes to credit card agreements. Some provisions wer...
Unless you raise chickens, the literal meaning of “Don’t put all your eggs in one basket” probably
doesn’t apply. But we all know what the phrase implies: Don’t deposit all your money i...
If the financial consequences weren't so damaging, you might almost find humor in how identity theft has butchered the English language in recent years. "Phishing," "pharming" and "vishing" are just a few ways crimi...
Most people are somewhat familiar with Medicare, since it's likely they or a family member are already covered by the government-provided health insurance program. But with its alphabet soup of options and complex r...
Anyone who's ever tried to lose a few pounds knows that not every diet works for every person. Similarly, it may take a few tries to find a system for managing your personal finances that you can stick to.
Raising a family is challenging, even under the best circumstances. For those with special needs children, however, the emotional – and financial – stakes are raised dramatically. Medical bills and specializ...
In a major crisis, our first impulse is to address people's immediate needs. With the Haiti and Chile earthquakes, that meant providing food and shelter to the victims. In the case of the recent economic recession, ...
This is the season for income taxes – and income tax refunds. According to the IRS, nearly 78 million people received federal tax refunds in 2009 averaging $2,705. If you're one of those folks, it may be tempt...
For many people, 2009 was a bumpy ride. Although the economy is slowly rebounding, times are still tough for those dealing with significant financial issues such as unemployment, lack of health insurance or foreclosure....
Considering how frequently many people move, switch jobs and change their names, it's not surprising that state treasuries and other agencies are sitting on more than $33 billion in unclaimed assets. That doesn'...
Mother's Day provides the perfect opportunity to celebrate your love and appreciation for the moms in your life. So buys flowers and make dinner reservations, or whatever your custom is. But before too many days pas...
This is the time of year when many people finalize their summer vacation plans – confirming travel and lodging reservations, dusting off suitcases and looking for games to occupy the kids on long road trips. Just ...
With wedding season right around the corner, a lot of soon-to-be brides and grooms are frantically nailing down their wedding and honeymoon plans. Before you marry and mingle your finances, be sure to carve out time for...
For those reentering the job market after decades of employment, you should know that the rules have changed considerably since you were last looking for a job. Fifteen years ago, online job sites were in their infancy;...
Ever since Individual Retirement Accounts were introduced in the 1970s, the numbers of tax-advantaged retirement savings options – and participants – have continued to grow. One relatively new alternative...
With millions of American schoolchildren starting summer vacation, cries of "I'm bored" will soon ring out across the nation. Swimming lessons and trips to the mall can fill only so many hours. Before you give up an...
Tax credits and tax deductions are two common ways people lower their income tax bills. Although similar in intention, these two tax-reduction methods have fundamental differences and are not interchangeable. Knowing th...
My wife and I survived two major home remodeling projects and we've got the battle scars to prove it. Like most people feeling cramped for space – thanks to two growing children in our case – we weighed ...
Senior citizens and others living on a fixed or low income know how difficult it is to make ends meet, especially when costs for essentials like health care, food and energy increase faster than their sources of income....
My wife recently enrolled in graduate school, so like millions of other Americans we've paid close attention to news about student loan programs. One recent example: A key component of the Health Care and Education ...
Recently, a man stepping off a curb near my office was struck and killed by a passing bus. Only 49, he clearly had many productive years ahead. Reading about it reminded me how quickly unexpected accidents can turn your...
State and local government budget cuts have taken their toll on practically every public service, including school districts. As parents, you're probably already being asked to contribute more and more to fund your ...
If you've got teenagers heading off to college soon, I hope you've done a good job educating them about the importance of personal financial responsibility and how to build a strong credit history. If not, bette...
When I was growing up, car manufacturers made a big deal each fall about unveiling next year's models, literally shrouding them in secrecy under tarps in print and TV ads until the launch date. Car-crazy dads would ...
Thanks to cherished family traditions like birthday celebrations and presents from Santa and the Tooth Fairy, today's children are often bombarded with gifts from an early age. In fact, many kids begin cashing in on...
In the past few recessionary years, most of us have gotten used to closely watching our expenses for everything from child rearing to college to retirement funding. Another important area where comparison shopping m...
If you've ever paid a penalty for sending in your credit card payment late, the following news might spark your interest: On August 22, 2010, the Federal Reserve Board implemented the third and final stage of the Cr...
Even in a strong economy, divorce is often difficult and costly; but in a prolonged recession, it can be financially
devastating. For example, suppose that:
Sometimes I miss the days before cell phones, email and voicemail. Sure, they've simplified our lives in many ways – remember how frustrating it was trying to reach people before answering machines? On the dow...
A friend of mine recently realized his mother needed help managing her finances when he found her closets filled with
oddball purchases like jalapeno jelly beans and Betty Boop bobblehead dolls. "It was pretty clear...
Millionaires can probably skip this column. Most likely they've already got a team of financial professionals
advising them about the best ways to pass along their wealth. For the rest of us, however, a quick re...
As with all challenges in a marriage, often what starts as a small issue can fester and grow into a large problem, given enough time. It's not surprising that after being together a few years, some couples realize t...
In the coming weeks, millions of Americans will receive 2011 employee benefit open enrollment materials. Yes, it's a pain to wade through all that information, but simply opting for your current coverage could prove...
Some people go into business for themselves so they can call their own shots; others turn to self-employment after falling victim to today's chronic unemployment rates. But before hanging out your shingle, recognize...
Wouldn't it be nice if, after decades of hard work and saving, you could retire without worrying about paying taxes? Alas, that'll probably never happen.
Even if your income drops significantly post-retire...
When faced with overwhelming debt, many people don't know where to turn: Should they file for bankruptcy, consolidate their debts into one loan or try to settle with creditors for less than they owe? Each approach c...
Drew Brees' list of accomplishments is long and impressive: New Orleans Saints quarterback. Super Bowl XLIV MVP. Devoted family man. And now, financial literacy champion.
For many, mid-November through New Year's Day is a blur of activity when important tasks get ignored. Who has time to review their benefits and tax paperwork when holiday planning looms overhead?
Today's tough economy has been doubly hard on non-profit organizations that rely on charitable contributions. Many people feeling the pinch have had to cut back on their donations; and because so many are out of wor...
At this time of year, many people overindulge, whether it's overeating or drinking too much at holiday parties or spending too much on gifts and decorations. You'll regret the former the next morning; but with o...
My wife decided to upgrade her dinosaur cell phone to a "smartphone" and enlisted my help. Initially, we ran into the brick wall of decisions smartphone shoppers frequently face: How to choose among hundreds of availabl...
If your preteen child hasn't hit you up yet for a cell phone, you're among a rare breed indeed. Studies have found that roughly 70 percent of 11- to 14-year-olds now use cell phones. Closer to home, our 10-year-...
When Ben Franklin famously wrote, "An ounce of prevention is worth a pound of cure," I'm pretty sure he wasn't warning his readers about the perils of cyber crime. But in today's world of phishing, shoulder-...
The Patient Protection and Affordable Care Act President Obama signed on March 23, 2010, set in motion a wide range of healthcare reforms. Although many of its more sweeping changes won't be fully activated until 20...
If you dread making New Year's resolutions because you're afraid you'll fall short, take heart: One minor setback doesn't mean having to write off the rest of the year. You'll probably have more succ...
You'll probably hate me for bringing this up, but it's time to begin planning for your 2011 taxes – or at least, about the tax implications of your retirement account contributions.
If someone gave you a $50 bill, you probably wouldn't just stick it in a drawer and forget it. But that's essentially what happens to billions of dollars worth of gift cards each year – people either lose ...
Between holiday shopping bills now coming due, increased winter heating bills and the upcoming income tax season, many people are feeling the pinch. Your best bet for getting back on track is probably to trim expenses. ...
If you've tried to take out a loan or open a new credit account recently, you know that the days of easy credit are long gone. Lenders, insurers and landlords are more diligently scrutinizing your credit history to ...
Chances are you or someone you know have been laid off recently. Being unemployed is difficult enough, but in a cruel twist, the longer you're out of work, the harder it can be to find a job. And, when work does fin...
So many expenses, so few dollars saved. That's the dilemma faced by millions of Americans – everyone from struggling college students to young families saving for a down payment to baby boomers approaching ret...
Reentering the civilian workforce after a career in the armed forces can be challenging even during the best of times. But with today's economic uncertainty and high unemployment rates, retiring and discharged milit...
When it comes to insurance, many people face the Goldilocks dilemma: Am I buying too much coverage, not enough, or just the right amount? How do you determine your proper insurance levels while ensuring you don't wa...
Before the housing crisis, it wasn't uncommon for people to raid their home-equity piggybanks to pay off bills. Plummeting home values and tougher lending standards helped curb that practice, leading some people to ...
Nobody likes being nagged, but I'm going to risk reader displeasure by reminding everyone that there are hefty financial consequences if you owe income taxes and do not file a return on time – or at least requ...
How often are you asked to sign something? I don't mean autographs or birthday cards, but legally and financially binding documents – everything from endorsing a check to signing a sales receipt to buying a ho...
Talk about a stampede: The first wave of Baby Boomers begins turning 65 in 2011, which means they'll soon be tapping Social Security retirement benefits, if they haven't already. If you're a Boomer and haven...
I'm the last person to cast aspersions on anyone who procrastinates, given my own occasional lapses in that area. I'll leave it to the self-help gurus to supply behavior-modification techniques. What I will say,...
Each spring, millions of Americans look forward to receiving a hefty income tax refund. And it truly is "hefty" with the average federal refund in 2010 hovering around $3,000. That's a lot of money to be giving the ...
I wouldn't trade the experience of raising my two kids for anything, but I must admit that when my wife and I started planning our family, we had no idea how expensive it would be. According to a Department of Agric...
One of the most valuable financial lessons you can share with your kids before they leave the nest is to explain what interest rates are and how they work. The important financial transactions they'll conduct as adu...
Mother's Day is May 8. In addition to traditional gifts like candy and flowers, consider spending a few hours helping your mom organize her financial, legal and medical records so she – and you – know wh...
I learned lots of valuable information in high school, but one subject that wasn't on the curriculum was personal financial management. We didn't learn how to balance a checkbook, why budgeting is important or h...
To paraphrase Yogi Berra, when it comes to gas prices, this is like déjà vu all over again. Instability
in Africa and the Middle East, among other factors, has driven up pump prices to levels we haven&...
Parents, if your high-school senior is about to graduate, you have my heart-felt congratulations – and my sympathy. As your checkbook can attest, this has been an expensive year and it's not over yet. You'...
If you're lucky enough to win a multimillion-dollar lottery, you don't need this column; you need a team of legal and financial experts to make sure you don't blow your chance for lifetime financial security...
We're forever warning teenagers to be careful online – don't reveal personal information to strangers, avoid scams, report bullying behavior. The same advice may be appropriate for grandma and grandpa as w...
With Father's Day upon us, dads everywhere are gearing up for an avalanche of gifts and "I love yous" from their spouses and kids. If you really want to return their affection, think about what you can do to protect...
If you – or one of your kids – are about to graduate from college or high school, congratulations on successfully navigating the twists and turns of the education system. You don't need me to tell you wh...
Next time you're tempted to lecture your kids about wasting too much time on video games, first check out which games they're playing – it turns out they may actually be learning important life lessons.
One common misconception among many people who rent their homes is that they are covered under their landlord's insurance in case of an accident, burglary, or other disaster. Let me dispel that myth: Landlords typic...
Nervous investors have faced many challenges over the last few years searching for safe havens. That's one reason many turn to annuities to ensure a steady stream of retirement income. But with so many types of annu...
Budgets are like diets: No single approach works for everyone; overly complicated plans rarely work for long; and sometimes it takes a few tries before you get it right.
If you've ever fallen far behind on paying your bills, you know what it's like to dread whenever the phone rings: What if it's another bill collector? Ignoring the call – like ignoring a toothache &nda...
Kudos to the millions of "sandwich-generation" Americans. These exhausted souls spend their time and money caring for and supporting not only their own children (and sometimes, grandchildren), but their parents as well....
One indicator our economy is still hurting is that more and more people are postponing retirement. According to the Department of Labor, those over 55 and still working have increased steadily since the recession began ...
You're probably weary of being reminded to take precautions against identity theft, but here's a wrinkle you may not have considered: Identity thieves have broadened their reach by harvesting children's dorm...
The days when you could send your kids off to the first day of school with a lunchbox and a hug are long gone. Today's back-to-school preparations likely include filing out piles of pre-enrollment paperwork, lining ...
You can scarcely turn on the TV without seeing ads for reverse mortgages. They're touted as a great tool for cash-strapped seniors to tap their home equity to pay off bills while remaining in their homes with no mon...
Many people suffered blows to their credit scores during the unstable economy of the last few years, whether because they missed payments, exceeded credit limits or, more seriously, experienced a home foreclosure or eve...
It's not uncommon to feel overwhelmed by the sheer number of important decisions we need to make concerning retirement accounts, investments, college savings and other complicated financial issues. That's one re...
I wish I had learned about the power of compounding a long time ago. As a kid I walked dogs in the neighborhood, earning $5 a week. If I'd started investing that weekly $5 from age nine until 65, it would have grown...
According to Gail Cunningham, spokesperson for the National Foundation for Credit Counseling, we live in a credit-dominated society. "Without a checking or savings account," she says, "it's difficult to cash payroll...
If you've got a high school senior, your household is probably knee-deep in senior-year activities – and expenses. Not to elevate your stress level, but this is probably a good time for you and your kid to sta...
Admit it: You probably spend more time comparison shopping online than reviewing your annual benefits enrollment materials. That's a big mistake because the money you could save by choosing the right employee benefi...
If you're enrolled in Medicare, mark these dates on your calendar: October 15, 2011 – December 7, 2011. That's Medicare's 2012 Open Enrollment period – and you should note that it occurs a month ...
If you haven't already jumped on the home energy-efficiency bandwagon, the good news is that several federal energy tax credits originally slated to end in 2010 were extended through December 31, 2011; but the not-s...
The other day I got one of those annoying emails from a supposed Nigerian prince promising rich rewards for helping to move money out of his country. It's hard to believe those kinds of scams are still thriving, but...
It's tough sticking to your budget any time of year, but the holiday season presents special challenges with so many unexpected expenses and temptations. If you sometimes fall prey to holiday overspending, you might...
Life insurance has no one-size-fits-all option. Singles with no dependents often need little or no coverage. But it can be an important purchase for people whose families depend on their income to cover daily living cos...
Each year, roughly one-third of American households itemize deductions on their federal income taxes. If you're among that group, there are a several important actions you need to take by year's end in order to ...
Reaching your 70th birthday is cause for celebration. But thanks to our quirky tax code, a potentially more important milestone arrives six months later. IRS rules say that you must begin taking required minimum distrib...
You may not know it, but millions of Americans are owed money from long-forgotten government payments, stock sales, bank accounts and other lost accounts. When the entities holding these funds can't find the rightfu...
Couples who marry as young adults usually don't bring a lot of financial baggage to the table. But what if you're getting married in your 40s, 50s or later – after divorce, children and years of building a...
We've all suffered buyer's remorse – say you buy something you really can't afford or the item's sudden drop in value make it seem, in retrospect, a poor investment. That's what has happened to...
Despite high-profile media attention, the odds of having your credit or debit card number stolen by crooks remains at historically low levels. That said, it's always good to know what to do in case lightening does s...
For the first time since 2009, the IRS has increased the amount people can contribute to their 401(k) and other defined contribution plans. Effective January 1, 2012, the maximum annual contribution grows by $500 to $17...
College costs are out of control. Total outstanding student loans hover around $1 trillion, second only to home mortgages. Student loan repayment takes a hefty toll on starting salaries even during good economic times. ...
By many measures, women's lives have changed substantially in recent decades. According to a comprehensive government report called "Women in America" (
Getting paid to go shopping may sound like a dream job, but buyer beware: For each legitimate mystery or secret shopper opportunity, probably hundreds more are scams. In fact, the National Consumers League (NCL) says co...
For most of us, income tax calculations don't change much from year to year. But thanks to the roller coaster economy of the past few years, many people have undergone major life changes that can have a significant ...
As you and your spouse celebrate Valentine's Day over a candle-lit dinner, you may want to avoid romance-killing topics like, "Honey, let's talk about our financial future." But you really should have that conve...
After four years of coping with a stagnant economy, probably the last thing you want to hear is how important it is to sock away money for a rainy day – you already know that. But hear me out, just in case.
Sometimes it's hard enough just keeping track of your own finances. But, as many of us have learned, life gets even more complicated when your parents come to you for assistance with their money matters – or w...
I'm a firm believer that the more knowledge you acquire, the richer your life will be. But as college tuition and fees continue to skyrocket, students and parents increasingly are asking, "Is a degree really worth t...
There are many reasons why someone might leave their home unoccupied for months at a time: Maybe you moved to another state and your old house is languishing on the market; or you can no longer afford your mortgage so y...
If you're worried you won't be able to pay your income taxes by this year's April 17 filing date, don't panic; but don't ignore the deadline and certainly don't wait for the IRS to reach out to y...
If you're worried you won't be able to pay your income taxes by this year's April 17 filing date, don't panic; but don't ignore the deadline and certainly don't wait for the IRS to reach out to y...
Losing your spouse is one of life's most stressful events. Ironically, it's during that time of grief, when you're probably not thinking clearly or focusing on such matters, that you're expected to make ...
It's hard to think of any act more generous than adopting a child. Many adoptive parents I know tell me it's the most personally rewarding thing they've ever done.
If you're among the millions of Americans expecting an income tax refund this year, you've probably already filed your 2011 return and are eagerly awaiting the money. But if you haven't already mentally spen...
For decades, millions of kids have faithfully followed the adventures of their favorite comic book superheroes like Spider-Man and the X-Men – sometimes well into adulthood. Although often considered pure escapism...
If the memory of hours spent hunting for and organizing paperwork to file your taxes is still fresh, think about doing some financial spring cleaning so next year's tax preparation won't be such an ordeal.
Now that tax day has passed, chances are you're either waiting patiently for your 2011 tax refund to arrive, it's already been spent, or you just wrote the U.S. Treasury a check and are in budget-cutting mode. <...
Disastrous wedding mishaps have long been a comedy staple, probably because so many of us can relate. What bride- or groom-to-be hasn't had nightmares about hurricane-force winds blowing over the reception tent or a...
For many people, having roommates is a natural transition between leaving their parent's house and buying their own home. It can be a great way to trim expenses and save for the future. But if you're not careful...
On Mother's Day, children of all ages thank their moms for the many sacrifices made during their childhoods – and well beyond, considering how many adult children still hit up their moms for a loan or free bab...
High school and college students hoping to find temporary jobs may be in for a tough time this summer – once again – as they compete with older, more experienced workers in a still-struggling economy. But if...
With summer vacation right around the corner, you're probably busy planning itineraries, shopping for new bathing suits and finishing up work projects. But before you completely check out, take a few minutes to revi...
As parents, we hope we're doing a good job raising our children – teaching them right from wrong, instilling the desire to learn and demonstrating how to manage money responsibly. But what if they see us preac...
Would you be surprised to learn that parents in many poorer countries often spend considerably more time talking with their children about money management than in wealthier countries like the United States? I was.
I'll wager that when most brides and grooms utter the phrase, ":For better or for worse,": the ":worse": they're imagining probably involves situations like getting laid off or a prolonged family...
Their names may sound funny but their financial consequences are not: "Phishing," "smishing," "vishing" and "pharming" are just a few of the ways criminals gain access to personal information via your computer or smartp...
Lesbian, gay, bisexual and transgender (LGBT) couples – and individuals – often face significant financial hurdles compared to their heterosexual counterparts. According to Chris Kollaja, a certified public ...
By most estimates, over half of adult Americans haven't written a will stating how their assets should be distributed after death. Fewer still have bothered to appoint someone to make financial and health care decis...
It's no secret that health care costs have been spiraling out of control for years. To fight back, your best bet is to be a well-informed consumer: Know the true costs of medical procedures, supplies and medications...
If your spouse-to-be is considering postponing the wedding because of fears about the so-called "marriage penalty," you two probably have bigger issues than whether you'll have to pay higher taxes as a married coupl...
Much was made of the size and complexity of the Patient Protection and Affordable Care Act when President Obama signed it into law in 2010. But now that the Supreme Court has upheld much of the act's constitutionali...
When the Do-Not-Call Implementation Act of 2003 was passed, it was supposed to herald a new era of silence – as in, no more annoying dinner-time telemarketing calls. Based on the number of unsolicited calls our ho...
On the fun-o-meter, I'd probably rank back-to-school shopping right above getting a flu shot and preparing income taxes. Never mind the hassle of figuring out what our kids need for the coming school year and draggi...
Until last year, Social Security sent taxpayers an annual personalized statement showing a complete record of their taxable earnings as well as estimated retirement, disability and survivor benefits based on those earni...
If you've got a recent high school graduate who's getting ready to head off to college or join the workforce, let me share a few lessons I learned the hard way about managing personal finances that you can pass ...
No doubt many wannabe first-time homebuyers have been sitting on the sidelines of the volatile housing market, unsure when or how to enter the game. If that describes you, you're probably fortunate to have missed ou...
When the last national census was taken in 2010, 48 percent of the population was classified as poor or low-income (earning less than 200 percent of the poverty level). Anyone who's ever tried to live on a low incom...
Here's more than you ever wanted to know about junk mail: Each year, direct mail creates 10 billion pounds of solid waste in the U.S. and costs local communities more than $1 billion in collection and disposal expen...
Over the next few weeks, millions of Americans will receive their 2013 open enrollment materials. Although it's tempting to simply check "same as last year," that can be a costly mistake – especially if your e...
For senior citizens, the most important decision you will make this fall comes in the form of choosing the most appropriate Medicare coverage options for next year.
Are you ordering far fewer checks for your bank account these days? Does a roll of postage stamps seem to last a lot longer? Like most people, you're probably performing many more financial transactions electronical...
Before the Great Recession of 2008 overturned many long-held financial beliefs, it wasn't uncommon for people to differentiate between "good debt" and "bad debt." The thinking was that certain kinds of debt were wor...
As we honor our armed forces this Veterans Day, let's also acknowledge the financial challenges they and their families often face, both while in service and after discharge. Fortunately, service members needn't...
Young adults applying for college or preparing to enter the workforce are sometimes shocked to find out that that certain behaviors that were either tolerated or ignored when they were younger now fall under closer scru...
Like many other economic measures, charitable donations in the U.S. have yet to bounce back to pre-recession levels. According to Giving USA's Annual Report on Philanthropy, charitable contributions totaled $298.4 b...
The closer the holidays loom, the less time harried families have to buy gifts, plan seasonal events and make travel arrangements. Unfortunately, when time is at a premium and you're forced to make last-minute decis...
From now until New Year's is probably when you have the least amount of time to spare on mundane financial bookkeeping tasks. But if you can dedicate a few minutes to review your benefits and tax paperwork, you migh...
If you're like many Americans – 71 percent, according to an AARP survey – you might be under the impression that your 401(k) plan administrator doesn't charge you anything to maintain your account. Y...
If you've ever tried to remove inaccurate of fraudulent information from your credit report and gotten the runaround, take heart: The Consumer Financial Protection Bureau is now on the case.
When it comes to making New Year's resolutions, getting into good shape financially ranks right up there with losing weight and eating healthier. All three goals require discipline and planning; and, as you've n...
Benjamin Franklin once declared, "Nothing can be said to be certain, except death and taxes." Although I don't have any updates on the former, where taxes are concerned I do have news:
According to a recent survey by the Federal Deposit Insurance Corp. and the U.S. Census Bureau, 17 million American adults now live in "unbanked" households, while another 51 million are considered "underbanked." In oth...
By many measures, women's lives have changed substantially in recent decades. According to a comprehensive government report called "Women in America" (
Now that the housing market has finally begun to stabilize and interest rates remain at historically low levels, more and more homebuyers and sellers are dipping their toes back in the water.
Anyone who's put a loved one to rest knows that death is not cheap. According to the National Funeral Directors Association, the average adult funeral cost $6,560 in 2009 (their most current data). That doesn't ...
Ever wonder why Mom and Pop stores sell wildly unrelated products side by side, like umbrellas and sunglasses, or Halloween candy and screwdrivers? Customers probably would never buy these items on the same shopping tri...
Many people file their income tax returns as early in the year as possible. Some are eager to claim their tax refund right away, while others are simply following their New Year's resolution not to procrastinate unt...
Many people adopt a "penny wise, pound foolish" mentality when it comes to buying insurance. When trying to lower expenses, some will drop or reduce needed coverage, gambling that they won't become seriously ill, su...
Back when people from my parents' generation were first planning their lives together, most married couples looked forward to working hard for a few decades, buying a house, raising a family and then retiring togeth...
The U.S. tax code grows more complicated every year and currently spans thousands of pages – even government experts can't agree exactly how long it is. So it's not surprising that millions of Americans hi...
Natural disasters are inevitable, unpreventable and often come without warning. No part of the world seems to be spared, whether it's a hurricane, earthquake, tornado, drought or flood. Even though such catastrophes...
Congress could well debate the debt ceiling, tax reform and other important economic issues until the cows come home, but one thing's for sure: If you don't pay your income taxes – or at least file for an ...
Have you ever turned on the light in a dark basement and shuddered as cockroaches scurried away? I get that same sense of revulsion whenever I hear about unscrupulous swindlers taking advantage of the victims of natural...
Parents of special needs children have enough on their plates just tending to the health, educational and emotional needs of their kids – not to mention often having to cope with drastically lowered income because...
I'm a big believer in having the appropriate amount of insurance, especially when it comes to your health and personal liability. But if money is tight and you want to get the most bang for your buck, there are a fe...
Most people who grew up during the Great Depression and World War II learned to scrimp and save as a matter of necessity. Many also gained financial security during subsequent decades when pension plans were more common...
I'm not sure whether it was intentional or merely a coincidence that several years ago Congress proclaimed April to be Financial Literacy Month. April is also the month when millions of Americans grimly write a chec...
Maybe you're a college student looking to rent your first apartment; or a downsizing homeowner reentering the rental market for the first time in decades. Whatever your situation, there are many precautions you shou...
Although the odds of having your identity stolen remain quite low, anyone who's ever had their bank or credit card account compromised knows what a pain it can be to unravel the mess. Sometimes enterprising hackers ...
Now that the long-debated estate tax rules have finally been settled, let's get real: Despite all the hoopla
raised, most people probably would never be impacted whether the lifetime estate tax threshold had sta...
Weddings have always been big business, but I was shocked to see how expensive they've become in the 17 years since my wife and I got married. According to the annual Real Weddings Study, the average wedding in the ...
Are the 70 percent of the developing world's adult population with no formal bank account doomed to a life of economic uncertainty and financial illiteracy? If a woman's culture dictates that she should always p...
The last few years have been tough economically for many people. Unemployment fears combined with plunging home, stock and retirement account values caused many to forgo big vacations – even though stressful times...
My trusty Volvo wagon served our family well for 13 years, but after 106,000 miles it finally gave up the ghost. My wife just completed graduate school so we weren't ready to commit to a new car payment. I rented a ...
One of the pitfalls of Congress passing complicated, sweeping legislation is that sometimes provisions designed to protect one group unexpectedly create hardships for others. That's what happened with 2009's Cre...
To the millions of college and high school seniors who recently graduated (and to their parents, who weathered the ups and downs of reaching that summit): congratulations on a job well done. After the celebration dies d...
Have you ever ordered something online that was delivered damaged ' or never arrived at all? Or been double-billed by a merchant? Or spotted a charge on your credit card statement you didn't make? Most of us hav...
When caller ID first arrived on the scene it seemed like a godsend to many people: Now you could easily identify who was on the line and ignore unwanted calls, whether from telemarketers, an ex-boyfriend or an unfriendl...
If your retirement is not far off, you've probably already started to estimate what your living expenses will be after the regular paychecks stop. Most would-be retirees remember to include routine expenses like hou...
Have you ever been turned down for a credit card and wondered why? Or gotten approved for a car loan or mortgage but suddenly the interest rate and fees are much higher than in the initial quote?
If your wallet has ever been lost or stolen, you know what a pain it is to replace your driver's license. That goes double when other vital documents like your, passport, birth certificate or car registration are mi...
If you feel frustrated or intimidated whenever you take your car in for repairs, you're not alone. According to the Federal Trade Commission and the Better Business Bureau, auto repair fraud consistently ranks among...
When budgeting for back-to-school expenses, parents generally include routine fare like clothes, school supplies and maybe a new backpack. But if your kids participate in extracurricular activities, whether it's spo...
One of the most important decisions you'll make when writing your will is determining who should be named executor of your estate. Even if you're just leaving behind household goods and a small savings account, ...
In 1978, Congress passed legislation proclaiming the first Sunday after Labor Day as National Grandparents Day. Presidents since Jimmy Carter have issued proclamations urging citizens to, in the words of President Barac...
We all know that sinking feeling when you get pulled over for a traffic violation. If you're lucky, you might just get a "fix-it" ticket for a broken tail light. But what if it was a more serious offense, like speed...
Ever notice how many people walk down the street completely engrossed in their smartphones and tablets? I fully expect to see one of them to walk into a light post one day.
Few events inspire more dread than an IRS tax audit. Even if you're confident you've accounted for every cent of income and only taken legitimate deductions, it's hard not to worry what a close examination o...
Millions of young Americans recently began their senior year of high school. If your kid is among them, he or she is probably busy juggling homework, extracurricular activities and maybe a part-time job – all whil...
I look forward to the day when we no longer need to warn senior citizens about scams designed to separate them from their hard-earned money. I'm not holding my breath, however.
In 2002, Congress passed legislation to create an income tax credit designed to encourage lower- and middle-income people to save money for retirement. The saver's credit, worth up to $1,000 a year for individuals (...
If you're among the 170 million Americans who receive health insurance through an employer-provided plan, you'll probably receive your 2014 open enrollment materials shortly. Although it's a pain to wade thr...
If someone told you there's a way for you to potentially save hundreds – if not thousands – of dollars on your income taxes by simply spending a few minutes reviewing your benefits and tax paperwork, wou...
Whether you're relocating across town or across the country, moving is expensive. By the time you've paid to have your household goods packed and moved, cancelled and reconnected utilities and racked up storage ...
As Veteran's Day approaches, this is a good time to remind our active duty service members and veterans about the many education assistance benefits available to them through the G.I. Bill and other government progr...
Although I take a certain amount of comfort from statistics that show major declines in most types of crime throughout the U.S., I also know that burglaries have increased in areas surrounding my neighborhood over the l...
I'm usually in too much of a Thanksgiving food coma to hit the sales on Black Friday, but millions of other Americans somehow find the energy. Last year, 89 million people took advantage of Black Friday sales (57 mi...
Would you be surprised to learn that if your laptop gets stolen during a car break-in, your automobile insurance probably won't reimburse you for the loss? Don't be.
With final holiday preparations looming, the last thing anyone wants to think about is next April's tax bill. But if you're over 70 ½ and have any tax-deferred retirement accounts (like an IRA), put down ...
Year after year, Congress keeps kicking meaningful income tax reform down the road. Consequently, taxpayers continue to be stuck with an archaic, overly complicated mess that pleases no one – except perhaps some t...
We've all had these moments: You're at a romantic restaurant and the evening went great. But just as you and your date are readying to leave, an embarrassed waiter appears and whispers, "I'm afraid your card...
Full disclosure: I've always been somewhat skeptical of timeshares. I understand the appeal of having a guaranteed vacation home in an area you love and being able to swap your unit for a place halfway around the wo...
Each year, auto insurance companies declare millions of vehicles to be "totaled," meaning it's not worth the cost to repair them. It doesn't matter whether the car was damaged in a collision, during a flood or a...
Anyone who's bought groceries, filled their gas tank or paid insurance premiums recently would probably be surprised to learn that, according to Department of Labor's Consumer Price Index for Urban Consumers (CP...
Anyone who's ever been asked to step in and manage their parents' or someone else's personal finances can tell you that it's an awesome responsibility – and by "awesome," I don't mean "totally ...
Moving is already traumatic and expensive enough; the last thing you want to worry about is getting ripped off by your mover. Yet each year, the Better Business Bureau receives thousands of complaints against moving com...
Reverse mortgages have become increasingly popular in recent years, as cash-strapped seniors seek ways to keep pace with rising expenses – not to mention cope with the pummeling their retirement savings took durin...
On Valentine's Day, people's emotions run all over the map – some are head-over-heels and want to shower their loved one with gifts, while others are despondent because currently they have no one special i...
One topic I've learned to avoid with new acquaintances until I know them better (along with politics and religion) is where they stand on the treatment of pets. Some people, when their dog gets sick or badly injured...
If you're among the millions of U.S. residents who each year send tens of billions of dollars to family, friends or foreign businesses overseas, here's good news: The Consumer Financial Protection Bureau recentl...
Calculating income taxes is a royal pain, even when your situation is uncomplicated enough that you can file a 1040EZ Form. And if you're self-employed, be prepared for extra layers of complexity. Not only must you ...
We all love a good bargain, no matter what our age. But if you're a senior citizen on a fixed income, finding discounted goods and services can mean the difference between making ends meet and going without.
Does this sound familiar? A few years back your yearly earnings were pretty low so you figured you wouldn't owe any income tax. Thus, when April 15 rolled around the following year you didn't bother filing a tax...
Good news for people shopping for a mortgage – and for current homeowners facing foreclosure because they can no longer afford their home loan: New mortgage regulations drafted by the Consumer Financial Protection...
I have yet to meet anyone who thinks they're saving too much money for retirement. On the contrary, most people admit they're probably setting aside too little. Retirement accounts must compete with daily expens...
Last year the IRS doled out over 110 million income tax refunds averaging $2,803. Another way to look at it is that collectively, Americans overpaid their taxes by nearly $310 billion in 2012.
One of the few positive outcomes of the 2008 financial crisis was that it helped shine a light on the importance of understanding and staying on top of your credit profile. Along with that heightened visibility, however...
If you've got teenagers, you already know how expensive high school can be. Besides food, clothing and school supplies, a whole host of extracurricular activities are competing for a share of your wallet – eve...
Most people understand why having life insurance is a good idea: Nobody wants to leave their survivors in a financial lurch if they were to die suddenly. But what if you suffer an accident or illness and don't die, ...
Mother's Day is May 11. If you're wracking your brain for ways to show your mom appreciation for all the sacrifices she made while raising you, here's a thought: Why not offer to spend some time helping to s...
In today's world of Internet banking, smartphone shopping apps and web-based access to investment accounts, it's easy to forget that billions of people around the world – including millions in our own coun...
Summer vacation is right around the corner. I'm not a big believer in pre-planning every single detail – sometimes the best vacation moments are spontaneous. But unless your rich uncle is paying for the trip, ...
By now, most people know about the perils of identity theft, where someone steals your personal or financial account information and makes fraudulent charges or opens bogus accounts in your name.
Each year when Father's Day rolls around, I'm reminded that I wouldn't trade the experience of raising my two kids for the world. But when I think back to how naïve my wife and I once were about the cos...
To the roughly 1.6 million college graduates in the class of 2014: You have my heartiest congratulations – and my sympathies. I graduated during the early 1990s recession when finding a decent job was very difficu...
June 1 marked the beginning of hurricane season. Meanwhile, across much of the Western U.S., major droughts have greatly increased the danger for summer wildfires. And don't forget last winter's record-breaking ...
Talk about good news wrapped in bad: In the midst of grieving the loss of a loved one, you learn that you were named beneficiary of their 401(k) plan. Chances are you've got too much on your mind to make any sudden ...
For harried parents, the definition of true panic is realizing in April that you forgot to enroll your kids for summer day camp and now all the slots are filled. Cut to: as the school year ends, you're feverishly tr...
If you always stop to read the fine print before signing anything, congratulations – your parents trained you well. If you don't, beware: Your signature could commit you to a long-term gym membership you don&#...
No doubt you've seen many warnings against sharing personal or financial information with strangers, but what about your spouse – or ex-spouse? A recent study by McAfee uncovered some unsettling results:
Parents, if this is your first time at the back-to-school rodeo, let me share a few lessons my wife and I have learned the hard way. Chances are you'll be spending the next few weeks filling out piles of pre-enrollm...
For many people, their biggest expenses in life are funding retirement, buying a home and paying for their children's college education – or a portion of it, anyway. Setting aside money for these and other fin...
By now, you've probably heard about the Big Three credit bureaus (Equifax, Experian and TransUnion), which monitor your financial history and issue credit reports and credit scores to potential lenders. But did you ...
To parents with a freshman entering college this fall: You're probably expecting to shell out major bucks for tuition, room and board and a million other necessities over the next few years. But before you send your...
I'm sorry to report that child identity fraud is alive and well in 2014. If anything, the problem may be worsening as identity thieves devise new methods to steal – and use – children's personal info...
Many people finally get around to writing a will in order to safeguard their assets for their heirs. But what if you've got the opposite problem: Your nest egg was decimated by the recession, bad investments or simp...
Call it a paperless experiment that didn't quite pan out. In 2011, a budget-strapped Social Security Administration (SSA) stopped mailing annual benefit statements to workers over 25 in order to save $70 million on ...
In their quest to land a job, any job, many young adults will sacrifice what used to be called "fringe benefits" to gain a foot in the door. But many entry-level jobs either offer no healthcare benefits, or the employee...
Retirement isn't cheap. Even though you're no longer drawing a paycheck, you still must pay for housing, food, utilities, transportation and healthcare, to name just a few expenses. As prices continue to escalat...
Shakespeare probably said it best: "Neither a borrower, nor a lender be, for loan oft loses both itself and friend." Four hundred years later, people still wrestle with whether or not to help out a loved one by loaning ...
Late last year, my wife and I were in the unenviable position of needing to shop for a new car, since the used car lease I'd assumed was about to expire. I knew it would probably have to last until my kids were well...
For millions of Americans, 2015 open enrollment for employer-provided benefits is right around the corner. While it may be tempting to simply opt for the same coverage you have this year, doing so could cost you hundred...
You'd have to be living under a rock not to be concerned about identity theft. It seems like every other month there's a new report about another massive data breach somewhere in the world.
If you're currently enrolled in Medicare, what you do or don't do over the next few weeks could determine whether you can secure the best, most affordable coverage next year. Here's why:
When it comes to holiday spending, waiting in store lines all night and jostling for discounts will mean very little if you don't have a budget that shapes your finances year-round. With the average U.S. household s...
No matter how far away you are from retirement, it's important to understand your Social Security benefits – and there's a particularly good reason to do it now.
The latest generations of veterans face a particularly complicated financial picture, attributed to multiple deployments, a tough civilian economy, predatory lending threats at home and disability and health issues.
The flurry of activity during the last weeks of December can make it difficult to pay attention to finances. If you want to save on your tax bill come April, now's the time to make some critical moves.
There was a time when contractors building McMansion-style home additions or Michelin-worthy kitchens were a regular sight in many neighborhoods – until around 2006, when the Great Recession began to take hold.
Is it ever too late to plan for retirement? No, as long as you're willing to be thrifty and extend your working years and be mindful of your individual and employer-based retirement savings options. Building a succe...
There was a time when contractors building McMansion-style home additions or Michelin-worthy kitchens were a regular sight in many neighborhoods – until around 2006, when the Great Recession began to take hold.
If your 65th birthday is around the corner or you're anxious about the Medicare open enrollment period (closing Dec. 7), it's a good time to start focusing on your options.
The Pew Research Center reports (http://www.pewsocialtrends.org/) that four in ten American adults have at least one steprelative, defined as a stepparent, a...
Over the last decade, reverse mortgages have been marketed as an easy way for seniors to cash in their home equity to pay for living expenses. However, many have learned that improper use of the product – such as ...
A first-time global financial literacy study shows that the keys to successful personal finance education are student perseverance and an openness to problem solving.
Valentine's Day is often a time to reflect on your relationship, and consider the next step. If your relationship is heading toward joint finances, it's essential to talk about it first – openly and honest...
Many grandparents go above and beyond to offer financial help to adult children and grandchildren. If you're seeking to contribute to your grandkids' financial future, one option might involve opening a custodia...
What if a sudden, debilitating illness, fraud or economic downturn affected your senior family member's retirement, estate or long-term care issues? Would you be prepared to take over?
If you're worried about paying for your child's college education, keep this statistic in mind: during the 2011-12 school year, the U.S. Department of Education reported that 85 percent of all full-time, four-ye...
For many teens, there's nothing more exciting than receiving the first paycheck from a summer job – a sure-fire ticket to fun and freedom. It's also a great opportunity for parents to encourage proper mone...
Crowdfunding – the online method of raising money from people around the world – is less than a decade old, allowing artists, activists and a growing number of entrepreneurs to connect with financial support...
Premium food, state-of-the-art veterinary care and creature comforts most humans would envy are now a regular part of life for many American pets. That's why prospective pet owners should consider financial planning...
Retirement planning can face derailment after a divorce. Married, two-income couples have the advantage of splitting living expenses and pooling all their investment assets, including retirement accounts. Once the marri...
Credit scoring has evolved over the last three decades and this fall, FICO made one more important change. Borrowers who have struggled with medical debt and those with a limited credit history might see better FICO num...
A sudden storm, a missed connection or a family emergency can turn a hard-earned vacation or important business trip into a big disappointment. Travel insurance can save the day, but picking the right coverage requires ...
The 2015 Financial Literacy Summit 2015, (http://www.practicalmoneyskills.com/summit2015/) held April 15 in Chicago and co-hosted by Visa Inc. and the Federal Reserve Bank of Chicago, focused ...
A young adult's first months out of college are about personal freedom and finding one's path as an adult. Building solid money habits is a big part of that.
If your financial life is confined to boxes, file cabinets and various piles of statements and receipts that only you can navigate, it might be time for a little de-cluttering.
A successful job search goes well beyond snagging the title and the paycheck. From the day you start looking until the day you're hired, there are strategic and financial issues to consider that may be more valuable...
Setting a few hours aside for a midyear financial checkup in June or July can help you review how you're doing with savings, investing, spending and debt. It can give you the opportunity to spot irregularities and a...
If you, your partner or your family want – or need – to get out of town right now, how do you improvise a great last-minute trip without breaking the bank?
Identity theft is one of the fastest-growing fraud issues at the Internal Revenue Service (IRS). Online thieves have been capturing Social Security numbers and other tax filing data to file fraudulent returns, principal...
After the 2008 economic crisis, many people assumed they would never be able to reach true financial independence – the ability to live comfortably off one's savings and investments with no debt whatsoever.
If you've received a replacement for your credit or debit cards in the mail lately, take a closer look. That little gold chip on the front is going to make it tougher for thieves to steal your data.
A generation ago, most families didn't think about financial fraud. Today, it can come in many forms – over the phone, through the mail and increasingly, online. It's an equal opportunity crime that affect...
For the eighth consecutive year, the American Psychological Association (APA) identified money as the number one stress trigger, with 72 percent of Americans report...
It will begin soon enough – all those "beat the rush!" ads for holiday shopping, activities and events. Right now, you have a great opportunity to beat the rush to organize your year-end finances and make some sma...
Unexpected money from a friend or relative can be a great surprise or a potentially difficult money lesson. How you plan for unexpected money issues overall can be a key to how well you'll handle a sudden windfall. ...
If you've ever wondered if you can be charitable with only a few extra dollars in your wallet or a little bit of free time, the answer is yes. You just have to get a little creative.
Have you ever thought about growing your own fruits and vegetables at home? For experienced gardeners, the cold months are when their imaginations get fired up; seed catalogs seem to blow in with the arctic blast, accom...
Before the housing market collapse of 2007, all renovation projects – no matter how expensive – seemed like winners. Today, home renovation is a whole new ballgame and why you should carefully research any p...
My neighbors and I talked for weeks about their upcoming European vacation with their teenaged kids. We discussed every single place they planned to visit. But when I asked if they knew how much their European train and...
During a particularly cold winter or hot summer, you open your utility bill with a sense of dread. Is it time to consider your utility company's budget-billing plan?
Whether you're talking about diet, exercise or money, keeping New Year's resolutions is challenging. A University of Scranton researcher noted that "weight loss" is the current reigning resolution, followed by "...
When you die, will your kids fight over your money?
It's an important question that might be hard to answer now, but parents who devote themselves to estate planning with relevant updates over their lifetimes ca...
Whether you're planning a future procedure or navigating care after a sudden illness or accident, smart consumers have a plan in place to avoid hidden costs and billing errors common to our ever-changing healthcare ...
With the average American spending only 4.2 years at any given job according to the Bureau of Labor Statistics, it's never been more important to have a plan for retirement funds you've accrued at any employer.
How well do you really understand the homebuying process? Taking a qualified homebuying class will do more than teach you how to get a mortgage or pull together a down payment. It will help you determine the amount of h...
Phased retirement – a catchall term that describes a variety of part-time and reduced-hour work arrangements before leaving an employer for good – is gaining steam. But before you sign on, it's important...
Kids are surprisingly resilient in the face of a crisis. But even so, serious family money troubles can potentially affect a young person's home life, education and outlook on money management down the road.
Preparing your kids for college isn't just about the money you've put aside for tuition, room and board. It's about making deadlines, making the right choices and making sure your teen has the proper life an...
If you're not close to retirement age, it's easy to ignore what Social Security is doing. However, some significant announcements late last year make now a very good time to pay attention.
According to a 2014 University of Michigan Study, the average high school senior – who may already be juggling a part-time job in addition to their schoolwork– knows little about saving or proper money manag...
Adulthood brings certain financial responsibilities like the building of budgets, bank accounts and proper insurance. It's surprising how few consider a proper estate plan part of that essential mix.
It's never a bad time to consider life, liberty and the pursuit of happiness but Independence Day offers us a special opportunity. For me, those concepts also have a great deal to do with financial independence. Aft...
Today, our standard workday isn't so standard anymore and we're talking more about "gigs" – alternative work arrangements that often depend on the latest technology and a desire to set one's own schedu...
If a close friend or family member is getting married it's an honor to be asked to join the wedding party. However, if your budget is tight because you're saving up for a financial goal, paying off bills or have...
The decision to start a family is a joyful event. However, parents considering adoption should consider advance planning for a range of financial issues unique to the process and the child they hope to bring into their ...
On the hunt for a new apartment? A move can be an exciting opportunity to explore a new area or meet new people. However, competitive rental markets can make it difficult to find a desirable place on a budget.
If having a dedicated professional to help you manage your money sounds appealing, consider looking into a financial advisor – regardless of your income. There’s no substitute for financial education but an ...
Looking for an eco-friendly subcompact or the thrills that come with a sports car? Perhaps the practicality of a sedan or a spacious SUV better fits your needs? No matter what type of vehicle is calling your name, plann...
It's increasingly common to find classrooms filled with the blue hue of computer and tablet screens. Early education or postgraduate work, there's a shift towards technology-driven, or at least technology-aided,...
Are you stressed about managing your money? Most of us are at one time or another. Whether you're trying to track your spending or invest spare change, fintech (financial technology) is here to ease your money worri...
As you prepare for a new year at college, managing your money may be the last thing on your mind. But, college is the perfect time to instill strong and healthy financial habits, such as budgeting and living within your...
Food shopping can quickly take over your budget despite your best intentions. Perhaps it's due to impulse purchases, unplanned shopping trips, food going bad or a combination of all three. If you're looking for ...
Fall is here and school is back in session but for many graduates, it's out for good. If you're a recent high school or college graduate, this might be the first time you're on your own. Living away from hom...
Deciding to make a charitable contribution can arise from a desire to help others, a passionate commitment to a cause or the aim to give back to a group that once helped you or a loved one. Choosing which organizations ...
Do you turn the thermostat a notch higher or put on an extra sweater when it gets cold? It's a common household debate as family members try to maintain a balance between comfort and savings during the winter. It...
Teaching personal finance topics can be immensely rewarding because the lessons are often immediately applicable to many students' lives. Whether you're comparing financial products, creating a budget or evaluat...
How long would it take you to earn an extra $1,000? Contrary to what spam and internet ads tell us, after taking taxes and deductions into account, it's not an easy task. But you might be able to save over a thousan...
Do you have a high school senior who is knee deep in the college admissions process? Writing essays and filling out forms can be a stressful process for students, just as covering the cost of college can be for parents....
Whether you're actively looking to make a move or being lured away by a recruiter, a new job offers many opportunities for growth. Discovering how different organizations run and tackling the learning curve during t...
The end of the year is approaching and between visiting friends and family and celebrating the holidays, your taxes may be the last thing on your mind. However, putting off tax preparation until later could be a costly ...
You should want to know your credit score. After all, your credit can be incredibly important to your financial future. It could impact your likelihood of getting approved for a loan and the interest rate you'll get...
Did you recently get married, move in with a new roommate, see a child off to college or start managing a relative's finances? The change in relationship dynamics could prompt you to consider tying part of your fina...
'Tis the season for overflowing refrigerators, never-ending loads of laundry and hopefully visiting family who will lend a hand. Many people ask their appliances to work a little harder than normal during the holida...
Most people have at least one bad financial habit. Whether it's impulse shopping, forgetting to pay bills on time or putting off building that emergency fund, balancing what you want to do and what you "should" do i...
The end of the year is a perennial period of self-reflection, and I enjoy partaking in setting a few New Year's resolutions. Unfortunately, I've (more than once) enthusiastically started a year with shiny optimi...
It seems like every few weeks there's a new "must-watch" movie or show. Competition between traditional and new production companies is driving the wave of high-quality content. I can't complain, but it's al...
Have you ever considered how lenders compare applicants? Typically, the lowest rate goes to those who have the highest likelihood of repaying the loan on time. A lot of data goes into determining that probability, inclu...
Children and teenagers who received monetary gifts for the holidays are often excited to choose what to buy. While they should be allowed to spend some of the money or gift cards, as a parent, you could also use these w...
I'm often intrigued and sometimes inspired by stories of people traveling the world using points and miles. There's a well-known (within certain circles, at least) man who earned over a million airline miles by ...
The chill of winter can be offset with the pleasure of curling up inside a warm home. Turning on the heat and settling into your favorite chair to open a new book or watch a movie feels even better when snow falls or ra...
Imagine the frustration that would follow if you spent hours planning and narrowing in on a dream home only to find out that you can't afford it when push comes to shove. Starting with a price range can help you mak...
If you've made it to a point in life where you're ready to start investing, or at least start thinking about investing, you may consider opening a brokerage account. But you're not alone if the thought of ch...
Maybe your financial house is in order. Your debt is manageable or paid off. You have an emergency fund and now you're looking for ways to grow your wealth. Or, perhaps you're planning ahead by learning about di...
You may not have seen one in your neighborhood yet, but the tiny house phenomenon has spread across the country. For some, the move is driven by a desire to downsize and live a minimalistic lifestyle. Others see it as a...
You're not alone if your heart pounds when you see a letter from the Internal Revenue Service (IRS) in your mailbox. While some lucky filers get sent a letter because they're due a larger refund, most of us fear...
Planning for a baby is exciting and sometimes a little frightening for expectant parents, especially first-time parents. The months will fly by and soon you'll be at home embarking on an adventure along with the new...
The picture of retirement that many of us have is a post-work period filled with travel and plenty of relaxation. It's a time when you can finally take up a new hobby, sink into the pile of books and enjoy more time...
Flipping a house can seem like a walk in the park when it's wrapped into a few montages during a half-hour TV segment. Find a run-down property. Buy it. Take out a few walls, paint, replace carpets, upgrade the kitc...
Cities attract people for different reasons, which is partly why cities are such popular vacation destinations. Summer is one of the best times to visit, as the long days give you extra hours of sunlight for exploration...
Some homeowners can't wait to see the assessed value of their home drop. In fact, they'll tell you the bigger the drop, the better. Why? Your property taxes depend on your tax rate and your property's curren...
Following the Great Recession, it seemed liked extreme couponing was a competitive sport. You could watch on TV as shoppers armed with binders full of clipped coupons and an in-depth knowledge of stores' policies wo...
When you're a kid, a few dollars can seem like all the money in the world. It can take weeks, sometimes months, to save up your allowance. When you finally decide to spend it, you might realize that $10 or $20 isn&#...
Moving into a place of your own for the first time is a huge step. I remember my first post-college apartment move. It was nothing special, but it was mine. It came with a few new challenges and
How many times have you gone to pour milk in your coffee, only to see that the date on the carton was yesterday? Some people will instinctively throw it away, but chances are that's not what the label is intended to...
Whether it’s a matter of comfort, appearance or safety, there are many medical procedures that you may want or need, but your health insurance won’t cover.
Laser eye surgery may fall into the want category for...
College tuition, a new pair of glasses and retirement may seem unrelated, but the tax law says otherwise. By knowing how and where to save your money, you could pay for each of these expenses with tax-advantaged –...
You can break personal finance into three broad categories: income, expenses and savings. Your personal cash flow statement lists your income and expenses and a common goal is to end each month with a positive balance &...
Season ticket holder or first timer, watching your team take the field or visiting new teams in a different venue, gripping your seat tightly during the finger-biting last minutes of a close game or cheering on a decisi...
Many parents face the same difficult question when raising a child. Should one of you stay at home while the other works? It's not a question to take lightly. The decision can have emotional and financial consequenc...
In some parts of the world, a gap year – a year-long break between high school and college – is the norm. It's starting to catch on in the U.S. as well.
Camping can be an inexpensive way to enjoy a vacation with your friends and family. Whether you’re going swimming or boating at a nearby lake, or want to rough it on a multi-day backpacking trip, many people look forwar...
A birthday party is a fun way to recognize important milestones in a child's life. Family and friends are invited to join in the fun, and everyone enjoys a day of celebration. Behind the scenes, however, this can b...
How do you envision your retirement? For some, there's an idealistic image that many share of days spent walking along a warm beach, endless travel and a leisurely lifestyle. On the other end of the spectrum, some peopl...
Leaving college and entering the "real world" can bring about a mixture of excitement and anxiety. I remember feeling as if the possibilities were endless, but also feeling uncertainty about where or how to start the ne...
A friend and I were recently discussing family pets. Their family had recently adopted a dog, and he was pointing out that while his children had fervently promised to take care of the pet with the best of intentions, t...
While learning to discuss and manage money as a couple can be a challenge at first, figuring it out can pay dividends for years to come. It's beneficial to start communicating about money early in a relationship and...
Like many others, when my wife and I got married, we decided to intertwine our finances along with the rest of our lives. For most couples, opening joint bank accounts and buying a car or home together is the norm. Howe...
If you've got a business idea and you couple that with an entrepreneurial itch, you may find yourself tossing and turning at night trying to figure out a plan for moving it forward – dreaming of the day you...
I went to college after high school, and it proved to be a good investment. However, I also realize that the college path isn't necessarily the right fit for everyone, nor is it something to be embarked upon lightly...
Parents take their children's financial future seriously, and technology provides an ever-evolving variety of fun and innovative ways to teach kids about money....
Identity theft can be a time-consuming and costly hassle, but there are measures you can take to protect your personal information and avoid the headache. One tool that can help is credit monitoring. But what exactly do...
This article and the recommendations included within it are provided for informational and educational purposes only and should not be relied upon for tax, legal, regulatory or other advice. Recommendations should b...
