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.
Seven Things Every College Student Should Know About Taxes
The college years are an exciting and difficult time: From tuition payments to Free Application for Federal Student Aid (FAFSA) forms to full or part-time employment, college may be the first time young adults are in charge of their own finances. With more financial freedom comes added responsibility, including a duty to pay Uncle Sam. [...]
Having a Baby? Four Things You Need to Know About Your Taxes
Congratulations – your new baby has finally arrived. With this new addition comes added responsibility that can make it easy to forget about all the important things you need to do. While taxes aren’t the first thing you think about when your new baby arrives, forgetting anything on this list could have you scrambling come [...]
Tips on Making Estimated Tax Payments
The other day, a client called me very proudly. She had made her second quarterly estimated tax payment “right on time”—on July 15. I couldn’t help chuckling. After all, she tried to get it right. Unfortunately, she was actually one month late on her payment. Estimated taxes are used to pay taxes on income not [...]
Should You Borrow from Your Retirement Account to Fund Your Grad School Education?
Anyone preparing to go back to school has probably considered paying tuition, at least in part, with their retirement savings. After all, the money is just sitting there, waiting to be used. But that doesn’t necessarily mean you should use it to pay for your degree. “Don’t do it,” says Kathy Ruby, senior college financial [...]
When Should I See a Financial Planner?
How do you know if you’re ready for a financial planner? After all, it’s sort of a strange proposition: You’re spending money on someone who will tell you how to spend your money. But that’s exactly why millions of people see financial planners in the first place. “Typically, people who come to me are already [...]
What Is Pay-As-You-Drive Insurance?
While the National Association of Insurance Commissioners reports that the average annual cost for auto insurance has declined over the past year, some consumers may still be looking to save money on their policies. One way that consumers may choose to lower their insurance payments is by taking advantage of a program known as pay-as-you-drive [...]
Why Estate Planning Documents Should Be Part of Your Financial Planning Strategy
There is an old saying that people spend more time planning for a vacation than they do for retirement. You can imagine that most people spend even less time with estate planning. Planning for death or incapacity might not be on your bucket list, but it must be considered, especially when it relates to your [...]
Should I Choose Term or Permanent Life Insurance?
Let’s face it: few people like to talk about life insurance, let alone buy it. Benjamin Franklin, who was instrumental in creating the first life insurance company, the Presbyterian Ministers’ Fund, subsequently found that various religious authorities were outraged at the practice of putting a value on human life. Criticism cooled, however, when it was [...]
The Fed’s Stimulus Policies are Actually Paying Off: Study
The Fed was right about some of its stimulus policies, basically. A new study shows that the Federal Reserve's bond-buying stimulus program, which has kept mortgage rates artificially low for the past four years, had a measurable, positive impact on American households and the economy. Of course, it didn't work in the exact way the [...]
How Do I Change My Name After Marriage?
So you’re getting married and you’ve opted to change your last name. Congratulations! But as you’ll soon find out, changing your name is not quite as simple as just signing the marriage license. You need to notify a number of different agencies about your name switcheroo. It’s a bit of work, but don’t worry—it’s not [...]