Personal Finance: What to Ask a Financial Adviser
Financial advisers and planners attend seminars and classes and read books so they can learn how to win your business or, if you’re already their client, to “deepen the relationship.” The customary procedure is for the adviser to ask you questions, orally and in writing,…
Put Your Finances on Autopilot
When you lived at home, your biggest financial concern was probably how to spend your weekly allowance. Now that you’re on your own, you’ve got a slew of new financial responsibilities. You have to pay for utilities and other household expenses, manage your credit cards, pay off debts such as your student loans and car loan. Plus, you know you should start saving for a rainy day and investing for your future.
Need Help Meeting Financial Goals? Get a Money Buddy
In late 2006, a man we’ll call Patrick faced more than $66,000 of debt in credit cards, student loans and more. He resolved to shrink his debt by $10,000 in one year. And at the end of November 2007, he had achieved nearly double his…
How to Pick a Financial Planner
It’s not always easy to take a dispassionate view of your own financial situation and decide on the proper mix of insurance, investments and the like. A good stockbroker can help. But if you’d like someone to make broader-based investment recommendations based on extensive knowledge…
Budget Planner: Nine Financial Moves for New Moms and Dads
If you’re thinking about starting a family, or a baby is already on the way, you’re probably bracing yourself for months of sleep deprivation, dirty diapers and Barney. You also probably wince every time someone tells you that “a baby will change your life.” Well,…
Save Money on Investing
Looking for a partner in wealth? Your company 401(k) is a smart choice because you defer paying taxes on your contributions, giving you a bigger paycheck now and allowing you to save more. For example, if you contribute $200 per month, your paycheck will drop by just $150 if you’re in the 25 percent tax bracket. (This assumes you’re investing in a traditional 401(k); if your company offers and you’re using a Roth 401(k), you get no tax break up front but all withdrawals can be tax-free in retirement.)
Personal Finances: When's It Worth Going Into Debt?
To charge or not to charge? That’s a question the editors at Kiplinger hear a lot. Is it okay to go into debt for a wedding ring? Grad school? A car? Travel? Furniture?
Warning Signs of Too Much Debt
A longstanding rule of thumb holds that monthly payments on debts (not including a home mortgage, which is really more of an investment) shouldn’t exceed 20 percent of take-home pay. The closer you get to that 20 percent ceiling, the greater your risk of over-indebtedness….
Financial Management: Credit Card Smarts
Credit cards often get a bad rap. But by themselves, they are not necessarily evil. They can actually be useful tools in building a good credit history—and that will save you money for the rest of your life. It’s how people use their credit cards…
Household Budget: 8 Sneaky Saving Strategies
Here’s a timely question that came to magazine deputy editor Janet Bodnar… and her response.