Credit/Debt – Matt About Money https://mattaboutmoney.com Simple. Meaningful. Success. Wed, 20 Nov 2019 11:44:04 -0500 en-US hourly 1 9092505 Profitable Ideas: When Savers Find It Tough to Spend, Whether Credit Card Rewards are Taxable, and More https://mattaboutmoney.com/2019/11/22/profitable-ideas-when-savers-find-it-tough-to-spend-whether-credit-card-rewards-are-taxable-and-more/ https://mattaboutmoney.com/2019/11/22/profitable-ideas-when-savers-find-it-tough-to-spend-whether-credit-card-rewards-are-taxable-and-more/#respond Fri, 22 Nov 2019 14:30:00 +0000 https://mattaboutmoney.com/?p=7861

Weekly roundup of some of the best personal finance articles from around the web.

Don’t save too little, or too much (NY Times). After many years of saving, some people find it hard to spend.

Tiny home living and minimalism are helping us become debt-free (Marriage, Kids and Money). The big steps one couple is taking on the path toward financial freedom.

The money people in my life that I’m thankful for (ESI Money). With Thanksgiving coming up, and since this is a financial blog, who are the money people in your life that you’re thankful for?

More retirees today have a mortgage (Squared Away). No matter how far you are from retirement, planning to retire without a mortgage would be a very good goal.

Read this before you take out a loan on your 401(k) (MarketWatch). Such loans are easy to obtain, but come with some unique risks.

How to survive an IRS tax audit (US News). While your chances of being audited are pretty slim, here’s what you need to know should it happen to you.

What does buying a new car really cost over the years? (JL Collins). Follow up to the author’s article in last week’s roundup about buying a new car.

Do you have to pay taxes on credit card rewards? (The Balance). In short, probably not. However…

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Profitable Ideas: Finishing Rich Isn’t About the Lattes, Finding Your Financial Focus, and More https://mattaboutmoney.com/2019/10/25/profitable-ideas-finishing-rich-isnt-about-the-lattes-finding-your-financial-focus-and-more/ https://mattaboutmoney.com/2019/10/25/profitable-ideas-finishing-rich-isnt-about-the-lattes-finding-your-financial-focus-and-more/#comments Fri, 25 Oct 2019 13:30:55 +0000 https://mattaboutmoney.com/?p=7740

Weekly roundup of some of the best personal finance articles from around the web.

All you need to do to finish rich (The Irrelevant Investor). It isn’t about lattes. 

Can self-employed people ever actually retire? (MarketWatch). In short, yes, but it’ll take discipline and an awareness of the unique retirement accounts available to the self-employed.

How I paid off $100,000 of student loans in 3 years (Mr. Money Wizard). It wasn’t magic, but it’s inspiring nonetheless.

Only one in five Americans achieves this key financial goal for a comfortable retirement (USA Today). How to make the most of your retirement plan.

Even with the best advice, people can still mess up (Washington Post). Can you help the people around you if they don’t seem to want help?

Where you kid goes to college doesn’t matter as much as you think (CNN). What factors to look for when choosing a school.

It’s open enrollment. Are you making the most of your employee benefits? (Schwab). Some of the key decisions you’ll need to make, along with some helpful guidance.

To change your financial circumstances, choose focus (Becoming Minimalist). Finding the one thing would make the biggest difference in your financial life.

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Profitable Ideas: The Master Life Skill, Inside the Credit Card Industry, and More https://mattaboutmoney.com/2019/10/11/profitable-ideas-the-master-life-skill-inside-the-credit-card-industry-and-more/ Fri, 11 Oct 2019 13:30:45 +0000 https://mattaboutmoney.com/?p=7718

Weekly roundup of some of the best personal finance articles from around the web.

True long-term career success depends on this most underrated aspect of talent (Fast Company). The ability to wait for a greater reward is considered the master life skill, impacting our careers, our investing success, and so much more.

I worked at Capital One for five years. This is how we justified piling debt on poor customers (New Republic). A disturbing inside look at the credit card industry.

America’s middle class can’t afford its cars (Wall Street Journal). Loans are getting longer, making them more like mortgages.

How to buy clothes that are built to last (NY Times). Tips for slow fashion, which is good for our wallets and the environment.

Don’t make major decisions on an empty stomach (Science Daily). You know you shouldn’t shop for groceries when you’re hungry, but that advice applies to many other situations as well.

When filling out FAFSA, the waiting is the hardest part (A Teachable Moment). A lot of people don’t bother filling out the form, thinking they won’t qualify for any aid. That’s a mistake.

How do we balance what Scripture says about saving with the biblical commands to give generously (Eternal Perspective Ministries). Ideally, this isn’t an either/or decision. It’s all about priorities.

14 wildly different allowance strategies (Budgets Are Sexy). Lots of interesting ideas here. 

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Profitable Ideas: Whether Your College Kid Needs a Credit Card, The Market Will Crash, and More https://mattaboutmoney.com/2019/09/20/profitable-ideas-whether-your-college-kid-needs-a-credit-card-the-market-will-crash-and-more/ Fri, 20 Sep 2019 13:30:05 +0000 https://mattaboutmoney.com/?p=7639

Weekly roundup of some of the best personal finance articles from around the web.

Can your college kid handle a credit card? (Independent Advisors). Be sure to teach them the rules of the road for wise credit card use.

My biggest FI demon — status anxiety (Monevator). Great article that expresses what so many of us experience as we try to manage money wisely and counter-culturally.

The only benchmark that matters (Reirement Field Guide). Why comparing your investment returns to “the market” can be a mistake.

Why did my car insurance go up? (Clark Howard). Did you know that using roadside assistance can count against you?

Yes, the stock market is going to crash (A Wealth of Common Sense). It’s just what the market does every now and then.

Financially supporting your adult children? Don’t let it jeopardize your retirement (Kiplinger). For parents of young kids, this is why to give them increasing levels of financial responsibility. 

Here’s when buying in bulk is really worth it (US News). I’m not sold on the “benefits” of warehouse clubs? How about you?

Can you get cancer from tap water? New study says even ‘safe’ drinking water poses risk (USA TODAY). Oh, man. There goes one frugal solution down the drain.

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Profitable Ideas: Lessons Learned on the Journey Out of Debt, You’re Not Doing Enough to Prevent ID Theft, and More https://mattaboutmoney.com/2019/09/13/profitable-ideas-lessons-learned-on-the-journey-out-of-debt-youre-not-doing-enough-to-prevent-id-theft-and-more/ https://mattaboutmoney.com/2019/09/13/profitable-ideas-lessons-learned-on-the-journey-out-of-debt-youre-not-doing-enough-to-prevent-id-theft-and-more/#comments Fri, 13 Sep 2019 13:30:33 +0000 https://mattaboutmoney.com/?p=7600

Weekly roundup of some of the best personal finance articles from around the web.

Smashing 6 figures of debt & learning what doesn’t apply to me (She Picks Up Pennies). Getting out of debt has much to do with how you frame the conversation.

Two years after huge Equifax breach was revealed, consumers are still too vulnerable to identity theft (CNBC). We hear about huge hacks seemingly all the time, and yet we do far too little about it.

How buying and selling a home could soon be as simple as trading stocks (MarketWatch). How technology is changing the game.

This financial planner’s no-fail secret will have you effortlessly spending less (MarketWatch). It’s so simple you’ll think it won’t work, but it does.

Why college became so expensive (The Atlantic). Parents feel tremendous pressure to help their kids pay for college, and it’s taking a toll.

How my shopping habits changed after simplifying my home and life (Becoming Minimalist). The positive ripple effects of minimalism.

Why you need a healthcare proxy (The Balance). It’s just one part of an estate plan, but it’s an important part.

Avalanche vs. snowball: Which debt payoff method is best? (Clark Howard). Should you go after your highest interest rate debts first or your lowest balance debts?

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Profitable Ideas: The Company You Keep, Insuring Against a Disaster, and More https://mattaboutmoney.com/2019/08/30/profitable-ideas-the-company-you-keep-insuring-against-a-disaster-and-more/ Fri, 30 Aug 2019 13:30:28 +0000 https://mattaboutmoney.com/?p=7555

Weekly roundup of some of the best personal finance articles from around the web.

Frugal friends: 4 ways your inner circle influences your finances (Money Ning). How much you spend has much to do with the company you keep.

Easy home improvements for under $100 (Real Simple). Not sure about “easy,” but if you’re handy here’s how to change the look of certain rooms inexpensively.

The spy in your wallet: Credit cards have a privacy problem (Washington Post). “Where does it end? Nobody really knows.”

Having “the money talk” with your parents as they get older (Marriage Kids and Money). Good ideas for broaching a tough topic.

Banana Republic joins the clothing rental craze (CNN). “Craze”? Personally, I think this is kind of crazy. How about you?

How to win at money (Becoming Minimalist). Six good suggestions — steps to take, ways to think.

How a decision matrix can help you make big choices with confidence (Gen Y Planning). Faced with a big decision? Break it down into smaller decisions.

Hurricane Dorian: What does insurance cover after a disaster? (USA Today). Also check to see if you have drain backup insurance, which is different than flood insurance. 

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Profitable Ideas: Whether to Give Your Teen a Credit Card, Pricing Strategies That Make You Overspend, and More https://mattaboutmoney.com/2019/08/23/profitable-ideas-whether-to-give-your-teen-a-credit-card-pricing-strategies-that-make-you-overspend-and-more/ Fri, 23 Aug 2019 13:30:20 +0000 https://mattaboutmoney.com/?p=7541

Weekly roundup of some of the best personal finance articles from around the web.

Give your teenager a credit card? Some financial experts say yes (NY Times). Better for them to learn while they’re still under your roof than to figure it out when they’re on their own.

Don’t wait for a life-changing event to change jobs (Fast Company). Changing jobs can be difficult and disruptive, which is why many people put off even thinking about it—often to their detriment.  

5 simple steps to stop overspending today (Money Ning). Simple, effective ideas for taking more control of your spending.

Four way to cut college textbook costs (Reuters). It isn’t just college textbooks that have gotten super expensive. One of the required books for our high schooler was $50!

To successfully pass down your wealth, first share your intent (Kiplinger). Estate planning is about more than just having the proper paperwork in place.

The trick that makes you overspend (BBC). The pricing behind many companies’ products or services is highly scientific, highly psychological. 

Four essential documents that could save your financial life (CNBC). Do you have these documents in place?

Does your job title really matter? 6 career experts weigh in (Go Banking Rates). In short, yes. Here’s why.

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Profitable Ideas: Unseen Identity Theft, Overdraft Protection Isn’t What It Seems, and More https://mattaboutmoney.com/2019/08/16/profitable-ideas-unseen-identity-theft-overdraft-protection-isnt-what-it-seems-and-more/ https://mattaboutmoney.com/2019/08/16/profitable-ideas-unseen-identity-theft-overdraft-protection-isnt-what-it-seems-and-more/#comments Fri, 16 Aug 2019 13:30:39 +0000 https://mattaboutmoney.com/?p=7530

Weekly roundup of some of the best personal finance articles from around the web.

Lost amid Equifax and Capital One hacks: Children with no credit histories are increasingly lucrative to identity thieves (MarketWatch). Some good advice for parents.

H&M, Zara, and other fashion brands are tricking shoppers with vague sustainability claims (Fast Company). “Sustainability” is all the rage, but what does it really mean?

The 4 legal documents your college-age child really needs (Kiplinger). You got them some back-to-school clothes and a dorm-size fridge, but is their paperwork in order?

Never mind (Humble Dollar). Removing the pressure to keep up with the Joneses. 

Three financial aid mistakes that could make college more costly (CNBC). The early bird gets the aid.

Why you should never sign up for overdraft protection (Clark Howard). There’s more in it for your bank than for you.

Who really owns your digital assets? (Wise Bread). Estate planning in our modern age.

Driving the same car for 53 years (YouTube). Do the basic maintenance (and keep the miles low!), and it’s amazing how long your car might last. 

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Profitable Ideas: Navigating Our Photoshopped World, Using Credit Cards Safely, and More https://mattaboutmoney.com/2019/08/02/profitable-ideas-navigating-our-photoshopped-world-using-credit-cards-safely-and-more/ Fri, 02 Aug 2019 13:30:32 +0000 https://mattaboutmoney.com/?p=7488

Weekly roundup of some of the best personal finance articles from around the web.

The age of envy: How to be happy when everyone else’s life looks perfect (The Guardian). Some words of advice for living in our Photoshopped world.

A new planner won’t change your life (Becoming Minimalist). The right tools can help, but ultimately, you have to do the work.

When is it a bad choice to “go cheap”? (The Simple Dollar). Where to draw the line between frugal and cheap.

GRindexing (KC-ROI). What a 101-year-old skier can teach us about making deposits of the most valuable kind.

Beat the cheats (Humble Dollar). With yet another big data breach in the news, some ideas on the safe use of credit cards.

The $3 billion mistake Americans are making with their credit cards (MarketWatch). Do you have a system in place that helps make sure you pay your bills on time?

Millennials rely on ‘side hustles’ to climb the corporate ladder (MSN). Career paths aren’t what they used to be.

How to avoid failure to launch — 8 steps to helping your kids reach financial adulthood (Wealthy Nickel). Sure, we love our kids, but eventually they need to make it on their own.

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Profitable Ideas: How to Up Your Investment Game, Keeping the Financial Peace in Your Family, and More https://mattaboutmoney.com/2019/07/12/profitable-ideas-how-to-up-your-investment-game-keeping-the-financial-peace-in-your-family-and-more/ Fri, 12 Jul 2019 13:30:23 +0000 https://mattaboutmoney.com/?p=7395

Weekly roundup of some of the best personal finance articles from around the web.

Why are we such poor investors (The Financial Bodyguard). How our brains, and our hearts, often lead us astray.

The thing that’s probably blowing a hole in your budget (A Wealth of Common Sense). It drives more of your financial life than you probably realize.

Your best tips for managing the family money (NY Times). I don’t agree with all of these ideas (and neither will you) but there are some good nuggets here.

The new Millennial obsession (Gartner L2). Oddly, pay-by-installment is the new credit card.

Why things break: Easy causes of business and investing failure (Collaborative Fund). Not a quick how-to article, but an interesting read, as is usually the case with Morgan Housel’s writing.

Here’s an example of the perfect résumé, according to Harvard career experts (CNBC). If you’re in the job market, here’s how to put your best foot forward.

Storm prep: How to keep your documents safe from a natural disaster (USA TODAY). This might be too late for the folks in New Orleans, but what if an especially bad storm hits your town?

5 tips on managing the ‘boomerang generation’ (NY Times). Lots of adult ‘kids’ are moving back home. Here’s how to keep the peace.

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