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May 21, 2024 By Liz Weston Leave a Comment

This week’s money news

This week’s top story: The hidden cost of helping friends earn more credit card rewards. In other news: 6 LGBTQ+ celebrations around the world worth a trip, how to use credit cards to save money on gas, and white house extends key student loan forgiveness deadline.

The Hidden Cost of Helping Friends Earn More Credit Card Rewards
Credit card rewards earned with your spending aren’t taxable, but you could owe taxes when you refer friends to a card and get a bonus.

6 LGBTQ+ Celebrations Around the World Worth a Trip
Celebrate Pride worldwide all year round, and see some sights while you’re at it.

How to Use Credit Cards to Save Money on Gas
The best cards for gas earn at least 3x back at the pump, and they don’t feature names of big oil companies or service station brands.

Act Now: White House Extends Key Student Loan Forgiveness Deadline
You now have until June 30 (instead of April 30) to consolidate certain federal student loans — and potentially get loan forgiveness in September (instead of July).

Filed Under: Liz's Blog Tagged With: 6 LGBTQ+ celebrations around the world worth a trip, credit card rewards, student loan forgiveness deadline, the best cards for gas

May 20, 2024 By Liz Weston Leave a Comment

Q&A: Newlyweds wonder if it’s the time to buy a home

Dear Liz: My husband and I are newlyweds and looking into purchasing a home. However, many homes in our area sell for $50,000 and more over the asking prices, which already are pretty high. We have stable jobs, but our dilemma is whether we should go into the market now or continue to save and wait […]

Filed Under: Q&A, Real Estate

May 20, 2024 By Liz Weston Leave a Comment

Q&A: More credit score drama over a missed payment

Dear Liz: You responded to a woman who was concerned that a missed payment had hurt her credit score. My situation is also about a missed payment. In fall 2018, I received a dunning letter from a bill collector. I did a ton of research because I never received the bill that ruined my previously stellar […]

Filed Under: Credit Cards, Credit Scoring, Q&A

May 13, 2024 By Liz Weston Leave a Comment

This week’s money news

This week’s top story: Home insurance companies may use aerial images to drop policies. In other news: how participating in campus protests could affect your financial aid, the worsening prescription drug shortage and how to cope with it, and balancing homebuying and summer travel. Home Insurance Companies May Use Aerial Images to Drop Policies Insurance companies […]

Filed Under: Liz's Blog Tagged With: balancing homebuying and summer travel, campus protests, financial aid, home insurance policies, prescription drug shortage 2024

May 13, 2024 By Liz Weston Leave a Comment

Q&A: Need help with your IRA? Call a CPA, or maybe a PFS

Dear Liz: My husband and I have substantial pre-tax savings in our workplace retirement plans and IRAs. Based on where those balances would be in retirement, we would definitely be paying more in taxes than now, and face the potential of running out of money if forced to withdraw it all. You often refer people to […]

Filed Under: Financial Advisors, Q&A, Taxes

May 13, 2024 By Liz Weston Leave a Comment

Q&A: Safeguarding your personal data is hard. Here are a few tips.

Dear Liz: I was recently alerted that my Social Security number has been found on the dark web. My information was part of the AT&T breach that took place recently. I am no longer an AT&T customer and haven’t been for several years, but they have not made any contact with me. What do I do […]

Filed Under: Identity Theft, Q&A, Scams

May 6, 2024 By Liz Weston Leave a Comment

This week’s money news

This week’s top story: 7 surprising facts about credit cards. In other news: Weekly mortgage rates rise again, look to last-minute scholarships when you can’t control FAFSA delays, and best cities for freelancers and self-employed workers 2024. 7 Surprising Facts About Credit Cards Card issuers have a lot of leeway in terms of when and how […]

Filed Under: Liz's Blog Tagged With: best cities for freelancers and self-employed workers 2024, Credit Cards, FAFSA delays 2024, scholarships, weekly mortgage rates May 2024

May 6, 2024 By Liz Weston Leave a Comment

Q&A: A sticky inheritance scenario

Dear Liz: I have an adult daughter by a previous marriage who has no savings or retirement funds. I want to change my living trust to ensure that my daughter only receives a monthly amount similar to my required minimum distribution from my IRA, plus half of our paid-off house after my wife and I pass […]

Filed Under: Inheritance, Q&A

May 6, 2024 By Liz Weston Leave a Comment

Q&A: Credit for time spent on a DIY home project?

Dear Liz: My husband remodeled all of the bathrooms in our home. We have receipts for the materials we purchased so that we can reduce our capital gains when we sell our home. Can we claim my husband’s time as labor costs for the home improvements? Answer: No. You can add the cost of improvements to your […]

Filed Under: Q&A, Taxes

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