About.com Financial Planning

Watch Out For Hidden Credit Card Fees

Mon, 08 Feb 2010 20:18:55 +0000

Credit card reform may be on the way, but it isn't all good news. If you're like most people, you probably get a lot of credit card offers in the mail. Many of these offers provide some attractive low interest rates, balance transfers, or reward programs. While it can be tempting to take advantage of some of these offers, you have to be careful. These offers are usually short-lived and can be even more costly than you think.

Whether it is a teaser rate or hidden fees on balance transfers, you want to read all of the fine print before taking advantage of any credit card. Some promotions are legitimately worthwhile, but there is usually more to it than the big 0% they are promoting on the form.�Learn how to spot these hidden fees and how to avoid them.

Watch Out For Hidden Credit Card Fees originally appeared on About.com Financial Planning on Monday, February 8th, 2010 at 20:18:55.

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A Few Money Tips For Singles

Sat, 06 Feb 2010 23:01:03 +0000

Everyone needs to plan for the future and find ways to save money, but being single presents a few unique opportunities and issues to consider. When you only need to support yourself and nobody is relying on your income, things like life insurance may not be on the top of your list. At the same time, with only one income you're solely responsible for making money to pay the bills. And when you're young and single, issues like retirement may be the furthest thing from your mind, yet it's still very important to start planning now. Here are a few things to consider when you're single and trying to make the most of your money.

A Few Money Tips For Singles originally appeared on About.com Financial Planning on Saturday, February 6th, 2010 at 23:01:03.

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Save Money on Groceries

Wed, 03 Feb 2010 09:25:50 +0000

In this economy, you're probably finding that your dollar doesn't go as far at the grocery store as it used to, or you simply don't have as many dollars to spend. Groceries and food prices have been increasing steadily over the past few years, and it is beginning to really put a strain on some family budgets. Even as costs continue to rise, there are plenty of ways that you can save money on your next grocery trip. Here are some tips on how to save money on groceries.

In addition to just saving money at the grocery store, now is a good time to take a look at reviewing, or creating a budget so you can find other areas to save money. It is easy to let a little bit of money here and there slip through the cracks, so finding, and stopping those spending leaks can lead to big savings over time.

Save Money on Groceries originally appeared on About.com Financial Planning on Wednesday, February 3rd, 2010 at 09:25:50.

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Investing 101: Bond Basics

Sun, 31 Jan 2010 19:06:47 +0000

There are a lot of investment choices out there. Stocks, bonds, mutual funds, and the list goes on. Most of us are somewhat familiar with stocks since we hear about the markets on the news all the time. But what about bonds? If you have a retirement plan, chances are you're also investing in bonds. So, what are bonds, how do they work, and what place do they have in your overall portfolio? Get a crash course in what bonds are and how they work.

Investing 101: Bond Basics originally appeared on About.com Financial Planning on Sunday, January 31st, 2010 at 19:06:47.

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Need Tax Advice? Call the IRS Toll-Free

Wed, 27 Jan 2010 20:14:01 +0000

It's tax time, and I'm sure many of you are just now beginning to gather your important tax documents. You'll be receiving W-2 forms, 1099s, mortgage interest statements, and much more. While most tax returns are relatively simple, there are many things that could have happened in 2009 that may make your tax situation a little trickier than usual. If you aren't ready to hire an accountant, where can you turn for tax advice?

Look no further than the IRS. I know what you're thinking, why contact them? They are the bad guys, right? Not exactly. Sure, everyone fears an audit or worse, but the IRS is really out there and willing to help. Best of all, they can answer most of your questions for free. It's certainly worth a free phone call to potentially get tax advice that could actually prevent you from getting audited. Learn how to get free tax help from the IRS.

Need Tax Advice? Call the IRS Toll-Free originally appeared on About.com Financial Planning on Wednesday, January 27th, 2010 at 20:14:01.

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Can You Afford to Stay at Home With Your Child?

Mon, 25 Jan 2010 19:38:07 +0000

Working families are often presented with a challenge -- should someone stay home to watch the child, or continue working and pay for daycare? The thought of giving up an income to stay home with the kids may seem like a big sacrifice, but when you actually start to look at the true costs and potential savings, it might not be so bad. Of course, everyone has different priorities and financial situations, but you can make the best decision for your family if you take everything into account carefully.

Take a look at what you should consider when determining if you can afford to stay home with your child or not.

Can You Afford to Stay at Home With Your Child? originally appeared on About.com Financial Planning on Monday, January 25th, 2010 at 19:38:07.

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Free Professional Financial Advice Today, January 22nd

Fri, 22 Jan 2010 02:00:55 +0000

On Friday, January 22, Kiplinger.com is hosting a live discussion with members of the National Association of Personal Financial Advisors (NAPFA) for Kiplinger's Jump-Start Your Retirement Plan Days. From 9 a.m. to 6 p.m. eastern time, these fee-only planners, who are well versed in investments, taxes, insurance, estate planning, and saving for college and retirement, will take questions. The NAPFA planners will answer as many questions as time permits.

This is your chance to get personal and professional financial advice from qualified financial planners who usually charge anywhere from $150 to $300 an hour! There are two ways you can get help. You can call toll-free at 888-919-2345 or submit your question online. If you have a burning financial question and would like some help, here's your chance.

Free Professional Financial Advice Today, January 22nd originally appeared on About.com Financial Planning on Friday, January 22nd, 2010 at 02:00:55.

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Should You Refinance Your Mortgage?

Wed, 20 Jan 2010 12:33:40 +0000

Mortgage rates have fallen quite a bit in recent months, so a common question is whether or not you should consider refinancing. The benefits are easy to understand--the lower the interest rate, the lower your monthly payment and total cost of buying a home. But before you rush into a refinance, there are some drawbacks to consider.

For starters, it costs money to refinance. In some cases, it can cost thousands of dollars. So, while you may be lowering your monthly payment, how long will it take to break even on the closing costs? Six months? A year? Three years or more? If you aren't sure whether you'll be in the house long enough to offset the cost, a refinance could end up costing you more.

Refinancing your mortgage can be a great way to save money, but make sure you consider all of the pros and cons before signing any papers. It is an important decision, and if you aren't careful, it could prove costly.

Should You Refinance Your Mortgage? originally appeared on About.com Financial Planning on Wednesday, January 20th, 2010 at 12:33:40.

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How Much Money Do You Need To Retire?

Sun, 17 Jan 2010 18:32:35 +0000

One of the most frequently asked questions I receive has to do with retirement. In particular, people are wondering how much money they need to retire. I wish there was a simple answer, but it isn't an easy question. There are a lot of media outlets out there that will throw around a lot of numbers and say you need at least a million dollars in the bank, or have to save at least 15% of your income for retirement. While these may apply to some people, the problem is that everyone's specific retirement situation is unique and it's impossible to have this magic number that works for everyone.

So, how can you determine how much money you need for retirement? The younger you are, the harder it is to calculate because so much can change in terms of your situation and with things like taxes and economic conditions over the next thirty or so years. In situations like this, you should know that you'll probably need close to as much income in retirement as you need now (adjusted for inflation of course). As you get older and retirement gets closer, you really need to sit down and start to project your expenses. You should have a rough idea of whether or not you'll be receiving a pension, what your Social Security check will be, and realistically start thinking about life expectancy and your retirement goals.

Learn more about how you can project how much money you'll need to retire.

How Much Money Do You Need To Retire? originally appeared on About.com Financial Planning on Sunday, January 17th, 2010 at 18:32:35.

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How to Eliminate Credit Card Debt

Thu, 14 Jan 2010 21:35:54 +0000

Credit card debt is one of the biggest problems most people face when trying to get a handle on their finances. Credit cards make it easy to spend more money than you have, and then the crippling interest rates and fees make it seem impossible to get out from under. While there isn't an instant cure for credit card debt, there are steps you can take to put yourself on a path to becoming debt free.

It takes a little planning, a little budgeting, and some time, but if you keep at it you'll find that you're getting out of debt faster than you had imagined. Here's the process to help you eliminate your credit card debt.

How to Eliminate Credit Card Debt originally appeared on About.com Financial Planning on Thursday, January 14th, 2010 at 21:35:54.

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