WHEN IT COMES TO expensive habits worth quitting, smoking should be one of the first on the chopping block. Not only is regular tobacco use bad for your health, it can burn up your finances, too. “We don’t realize how much far beyond that cost of a pack we’re putting into (smoking),” says Jennifer Folkenroth, […]
Category: Personal Finance
10 ways to save a lot of money — even if you’re not a high earner
If you read a lot about how to save money, you may believe that the biggest scourge threatening your financial goals are subscription boxes, latte consumption and envy of the Joneses. Having worked within personal finance with people with modest incomes for nearly 20 years, I have learned that there are even bigger threats looking […]
Hosting Thanksgiving costs hundreds of dollars — 5 ways to limit the damage
That plate of turkey, mashed potatoes, stuffing, green-bean casserole, cranberry sauce and pumpkin pie doesn’t come cheap. More than one in four hosts say that Thanksgiving represents a financial strain, according to a survey by LendingTree TREE, -1.09% . That shouldn’t come as a surprise given how expensive hosting a feast for the annual holiday […]
A tax-smart move for 70-somethings with extra money on their hands
If you’ve reached age 70½, you can make cash donations to IRS-approved charities out of your IRA. These so-called qualified charitable distributions (QCDs) are now a permanent feature of the tax law — unless Congress changes its mind. To take maximum advantage for 2018, you should replace some or all of this year’s IRA required […]
How the new tax law affects vacation-home owners
If you own a vacation home that you use for both rental and personal purposes, now is a good time to plan how to use it for the rest of this year with tax savings in mind. Here’s what you need to know: Rented less than 15 days during the year with more than 14 […]
How student-loan debt affects the rest of your life (it’s not pretty)
Student-loan debts are crippling the finances of Americans and seriously stressing them out, according to a new survey. It’s no secret there are widespread hazards with hefty student loans, but a new report from Student Debt Crisis, a nonprofit organization, and Summer, a start-up geared at helping student-loan borrowers figure out repayment, paints a stark […]
Credit Card Limits Tightening
Did your credit card limit unexpectedly decrease? If so, would you believe the good economy is the reason why? Capital One and Discover, two of America’s largest credit card issuers, recently announced a tightening of credit card limits despite the strong economy. Both companies cite risk management as the reason. While the economy may be […]
Sharing financial wisdom with your kids
Parents often try to impart their values about money to help their children establish a strong financial foundation. If you are a parent, talking to your kids about money can help them learn how to be financially responsible, self-supporting adults. To get the discussion flowing, consider using these conversation starters depending on your child’s age. […]
4 Tax Surprises You Might Face in Retirement
Many working adults are used to losing a portion of their income to taxes. New retirees, on the other hand, are often shocked to find that much of their income is, in fact, subject to taxes as well. Here are a few unpleasant tax surprises that might catch you off guard in retirement if you […]
Should You Get Your Boss a Holiday Gift?
If you have an excellent boss who has treated you well all year, you might be tempted to add them to your holiday gift list. That’s not always a good idea, and it’s a decision you should be very careful with. “Tread carefully,” Jo Bennett, a partner in the executive search firm Battalia Winston, told […]
Credit scores reveal red flags about a person that have nothing to do with money
Many new couples inquire about a potential mate’s age or how many previous partners they’ve had. Others are more interested in another number. Approximately 42% of adults say knowing someone’s credit score would affect their willingness to date that person, according to a recent survey of 1,000 adults by personal finance website Bankrate.com. That’s up […]
Single Women Have Their Sights on Homeownership. Here’s How to Make It Happen
One benefit of being coupled up is having someone with whom to split the bills, which makes many major financial goals more attainable. It therefore stands to reason that single folks who are forced to go it alone might have a harder time meeting their financial objectives. This especially holds true for women, who are […]