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 Build My Credit If I Have No Credit?
How can I build my credit if I have no credit? This reader wants to know how to go about buying a car and a home with no credit history. Q: I'm in the process of buying my first car (researching, calculating finances) and I wanted to ask what your advice would be as I [...]
VIDEO: How Can You Help Better Protect Yourself Against Identity Theft?
In a 5-part series, Credit 101, Ilyce Glink, an award-winning personal finance columnist and CEO of the financial wellness platform Best Money Moves, details important information you need to know about your credit reports and scores. Create a myEquifax account (at www.myEquifax.com) to receive six free Equifax credit reports every 12 months. Watch [...]
COVID-19: Unemployment and the Mounting Financial Crisis
COVID-19: unemployment and the mounting financial crisis. Understanding how people live paycheck-to-paycheck and the implications of extended unemployment. Q: In your recent column in the Washington Post, it was stated that “nearly 80 percent of Americans were living paycheck to paycheck before the pandemic…” I want to know how do you define living paycheck-to-paycheck when [...]
How Can You Help Better Protect Yourself Against Identity Theft
How can you help better protect yourself against identity theft? The Coronavirus/COVID-19 pandemic has presented new opportunities for identity thieves and other bad actors to use the stress of the current environment to their advantage. With no concern for your financial well-being, thieves can use stolen information to run up balances on credit cards or [...]
COVID-19 Scams: What to Look for in a COVID-19 Scam
COVID-19 scams: what to look for. How scammers are targeting Americans during the COVID-19 pandemic and what to do if you’re a victim of a COVID-19 scam. Update: The types of COVID-19 scams were updated to include a new national unemployment mailing scam on July 30th, 2020. Scammers have been working overtime this year, preying [...]
How Do You Change A Deed from Tenants in Common to Joint Tenants?
How do you change a deed from tenants in common to joint tenants? This homeowner also wants to know if it will trigger any adverse tax consequences. Q: My wife and I purchased a home over 40 years ago. The original deed is titled as John Smith and Sally Smith. This defaults to tenants in [...]
COVID-19 Pandemic Update: Property Tax Payment Extensions and Penalty Waivers
COVID-19 pandemic update: property tax payment extensions and penalty waivers. There are now 16 states offering some form of COVID-19 property tax relief. Relief programs for financial obligations continue to become available as more Americans have their incomes disrupted due to the coronavirus pandemic and the resulting economic slowdown. The average American household spends $2,375 [...]
Second Home vs Investment Property: IRS Tax Rules
Second home vs investment property: IRS tax rules. If a property was used as both over time, what are the tax implications when the property is sold? Q: I read your article on avoiding capital gains tax on second homes in our Sunday paper. I have a question that is along those same lines, except [...]
Revocable vs Irrevocable Trust: Which is Better
Revocable vs irrevocable trust: which is better. The difference between revocable and irrevocable trusts and the purpose each serves in estate planning. Q: I am divorced and have two grown daughters. I am placing my house in a trust. My attorney is recommending an irrevocable trust. Which do you prefer, revocable or irrevocable and why? [...]
Is Summer Canceled Because of the COVID-19 Pandemic?
Is summer canceled because of the COVID-19 pandemic? Not exactly, but some summer events and activities can’t happen while social distancing is in effect. This summer, things are going to be a bit different. The coronavirus pandemic and the social distancing efforts to limit its spread mean that summertime events that draw big crowds are [...]