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.
Working Toward Retirement With High Debt
A couple is in debt and close to retirement. They need to stash away as much cash as possible to rebuild lost savings, pay off debt, and get into a position where they can retire. Since the husband traded a higher-paying job for a lower-paying one, they may have to wait several years before they build enough savings to retire.
No Checking Or Savings Account? Use Prepaid Cash Card
Prepaid cash cards have come to the financial rescue for millions of Americans who don't have a checking or savings account. Having a checking or savings account is better for Americans, because it gives them more options. More than 250,000 people don't have a checking or savings account, so they use a prepaid cash card.
How To Save Money For Retirement
Are you saving enough for your retirement? Most Americans don't have enough put away for retirement. You should be deferring 10 to 15 percent of your income toward retirement. A budget calculator like the one at choosetosave.org can help you figure out how much you'll need for retirement.
Refinance Old Mortgage Or Home Equity Line Of Credit?
A homeowner has a small balance on their mortgage with a high interest rate, should he refinance or get a home equity line of credit? The homeowner and Ilyce cover the options for refinancing the remaining balance, or getting a home equity line of credit. Ilyce suggests a home equity line of credit instead of refinancing in order reduce interest.
Get Your Taxes Done For Free
Tax time means paperwork, which is especially tough for those taxpayers who either lost a job or took on a second job last year to make ends meet. Tax preparation services can help, but you'll pay hundreds of dollars to have your tax forms filled out. The good news is, if you earned less than $35,000 last year, you can get your taxes done, for free, in Chicago.
Credit Card Traps To Avoid
In the continuing search for higher profits, credit card companies are raising fees, shortening grace periods and trying to find ways to get you to pay more in interest. Consumers need to know more and more to avoid credit card traps. Learn about the terms of your credit card and stay aware of any changes in order to avoid extra fees and traps.
Wife Is Addicted To Saving Money
Can a savings plan work too well? If fun isn't part of your financial plan, then your personal finance goals may lead to personal disaster. While it's a great idea to committing to saving money, it's important to leave room for the fun stuff, too.
Questions About Investing
Where is a good place to invest an emergency fund? What the safest investment in a rocky economy? Is it better to use extra cash to invest or to pay down debt? Your investment and personal finance questions answered here.
Escrow Management And Who Pays Taxes
Escrow accounts hold money to pay property taxes. You can either manage your own escrow account or let your mortgage company do it. But if you manage your own escrow account you will get to earn interest on your escrow money. The best way to manage escrow money depends on each home owner.
Keeping Track Of Personal Finances Online
Keeping track of your personal finances online or with computer programs like Quicken has become easier. A new Quicken user asks about creating a paper trail to keep his books balanced. Until you're feeling comfortable with the program, download the information into Quicken and also print a copy of the record so you can make sure the download of information has posted correctly.