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.
How Can I Help My Adult Child Get Out of Debt?
I have counseled numerous families on how to manage their finances, and there’s been a common issue among many: how to best help an adult child with his or her financial issues, from struggling to make mortgage payments to managing overwhelming credit card and student loan debt. Adults face a tough job market today—even with [...]
Why You Shouldn’t Withdraw Your Retirement Funds Early
After a lot of scrimping and saving, you’ve finally started building up some retirement savings in the form of a 401(k) or IRA. If you’re lucky, you may even have an emergency fund set aside in a savings account. But your financial situation could quickly change, whether as a result of a layoff, a medical [...]
Insurance Facts: What Happens When Your Car Is Totaled?
Collisions aren’t the only way your car can be irreparably damaged. A fallen tree, a major flood, or a fumbled theft could quickly end your car’s days on the road. More than 5 million vehicles are totaled by these and other causes every year, according to the National Automobile Dealers Association (NADA). But the word [...]
Six Tax Planning Tips for Selling Your Home
Your home is one of your most interesting assets when it comes to income taxes. It’s easy to avoid paying taxes on most (or all) of the profits once you’ve sold it, and you can even turn home ownership into a tax-free source of income. When you sell your home, you can exclude a big [...]
Yes, Money Can Buy Happiness—For a Lot Less Than You Think
Can money buy happiness? That’s an age-old question, and one that I think that everyone asks themselves at some point. Most people wonder if all of their hard work will pay off and give them the financial freedom and happiness they seek. In short, the answer is yes—and it can be purchased for a lot [...]
Four Insurance Facts to Remember This Hurricane Season
Hurricane season began on June 1, so it’s time to make sure you and your property are covered by a good insurance policy. According to Ron Sachs, executive producer of the National Hurricane Survival Initiative, experts are predicting 2014 will be a modest year for hurricanes—but that’s no reason to be lulled into a false sense [...]
Will My Homeowners Insurance Cover a Fireworks Claim?
Summer means backyard barbeques, water sports, and, for many people, fireworks. Whether it’s a Memorial Day, Fourth of July, or Labor Day celebration, or simply a fun (yet dangerous) way to spend an evening, the sound of fireworks is common on summer nights. Before you start planning your own celebration that will include fireworks, review [...]
Top 5 Most Expensive Places to Drive a Car
Think it’s expensive to own a car? It’s a lot worse if you’re in Wyoming. Wyoming was recently named the most expensive place to drive a car, according to Bankrate.com. A typical driver in the Cowboy State spends $2,705 a year to operate a vehicle, about $500 more than the national average of $2,223. Meanwhile, [...]
Should I Reaffirm My Mortgage Debt After Bankruptcy?
If you’ve found yourself in financial difficulty, you may be considering bankruptcy, which allows you to settle with your creditors in court. In a bankruptcy, you may be able reorganize your debts to make your payments more manageable—or even eliminate your debts completely. While a bankruptcy can help you get rid of your debt in [...]
Must-Have Insurance Plans for Millennials
Older members of Generation Y (people born between the 1980s and the year 2000), also known as Millennials, are starting to face some big life events. They’re getting married, purchasing their first homes, and having their first kids. The big life moments should trigger insurance decisions, but many Gen-Yers are less than thrilled to make [...]