We cover the basics and more about personal finance, answering frequently asked questions about credit and debt, identity theft, saving for college, retirement, estate planning, insurance, taxes, job hunting, and raising money-savvy kids. Check out the articles, columns, blog posts, radio shows and videos for tons of personal finance advice.
Holiday Shopping Tips
With the holiday season upon us, it's time to start looking for bargains and avoid overspending. Here are a few great holiday shopping tips that will let you give great gifts without having to run up the bills higher than you should.
Ilyce Glink on WSB Radio – November 13, 2005
Ilyce starts the show by disclosing her longstanding desire to buy a big screen TV. Her husband Sam says just move closer to the TV, but it looks like Ilyce will be buying anyway. Ilyce offers holiday shopping tips for those who are in the market for a big screen TV. She also discusses all sorts of other personal finance, real estate, and consumer advice issues -- and answers questions from callers.
Divorce And Quit Claim Deed
Can a divorce settlement override a quit claim deed? Unlikely. If one spouse pays the other spouse his share of a property and he signs a quit claim deed, the first spouse does not owe the other one any money for a home. But when you're going through a divorce with assets, the judge will look at all the assets when deciding how to divide up property.
Ilyce Glink on WSB Radio – October 23, 2005
Ilyce starts the show with a discussion about the cost of raising a child that is born today. Ilyce then takes calls on topics from wrapped mortgages to cool off periods for used automobiles. Ilyce is off next Sunday for NASCAR coverage and will return November 6th.
Ilyce Glink on WSB Radio – October 16, 2005
The bankruptcy laws have changed! Ilyce starts her show by discussing the new bankruptcy laws. She then takes multiple calls on the topic of the new bankruptcy laws.
Inherited Real Estate Among Siblings
After inheriting real estate, ten siblings are in the midst of figuring out what to do with the residential properties they inherited. Knowing the value of the inherited properties will help them make informed decisions. An attorney is also advised to help this group sort out their inheritance.
Ilyce Glink on WSB Radio – October 9, 2005
Ilyce kicks off the show with new information on the Medicare prescription drug plan. Ilyce then takes calls on topics from double commissions to handling surrendered annuities for an elderly parent. As of November 15, 2005, you can elect into a medicare drug plan. Each company typically provides 3 plans at 3 different prices points with different coverage. Here's some of the Medicare information that was discussed on the show:
Today, Medicare participants receive 75 percent of drug costs, after they pay the $250 deductible up to $2,250 in total spending. The plan currently pays 95 percent of drug costs after the participant spends a total of $3,600 in out of pocket expenses.
The new plans are supposed to do better. A quick look at the Georgia drug plans that are available show that most offer 3 tiers, with the monthly premiums ranging from $17 to $62.29. The plans cover anywhere from 77 to 99 of the top 100 drugs. Most include tiered co-pays for drugs, which haven't yet been spelled out in the literature.
Enrollment begins November 15, 2005, and coverage begins January 1, 2006, or the first day of the month after you sign up. If you currently get drug benefits from an outside insurance source (like a job you hold), there isn't a financial incentive to sign up now. But, if you don't have outside drug benefits, then the government wants you to sign up now. If you sign up later, the premiums will rise.
For more information, check out www.cms.hhs.gov/map/map.asp. You can check out any state's plans from this website.
Credit Cards: Rising Gas Prices Can Affect Credit History
Small things like the rising costs of gas prices can affect a consumer's credit history if they start missing credit card payments. Rising gas prices may force consumers to make only the minimum payments on their credit cards or miss them altogether, which will negatively affect their credit history. Even one late payment can affect a consumer's credit score so if you have to pay cash at the pump, do so, instead of using your credit card.
Reverse Mortgage Can Provide Retirement Money
A reverse mortgage can allow you to tap the equity in your home without having to sell it or take on another loan. Reverse mortgages or HECMs are commonly used by older Americans in retirement. A reverse mortgage can supplement other retirement income from investments and Social Security.
Reverse Mortgage Loan Provides Extra Income
A reverse mortgage may be a way to obtain some extra income, especially if you're elderly or retired. A reverse mortgage lets you get the equity out of your home without having to sell it or take on another loan such as a home equity loan. Learn who might be a good candidate for a reverse mortgage, or HECM.