Credit scores greatly impact a consumer’s financial moves — and how much they’ll pay along the way — yet many don’t even know how the rating works. Around 40 percent believe, incorrectly, that age and marital status play a role in their three-digit score, according to the Consumer Federation of America’s credit card survey, which

Martin Dimitrov | Getty Images A whopping 87 percent of millennials say they have been broke in the past or are currently broke, according to a survey by CreditLoan. Most people feel like an adult at age 18, but these days they might not become financially independent until almost a decade later. In fact, more

Get rid of really bad debt If you have credit card debt, aim to get it paid off as soon as possible. “Credit card debt is really an issue for many people,” Dougherty said. “It’s a pure cost, and it can be a high cost. And it’s a big impediment to being able to save.”

Many investors who are just starting out grapple with a four-letter word: debt. If that’s you, you want to watch the interest that you are paying on your credit cards and student loans. If the money you are charged for using your credit card gets too expensive, shop around for a better deal. Also take

Whether you should continue to use taxable account assets to pay those IRA costs will depend on two things: your account’s growth and your time horizon, said Jeffrey Levine, CEO and director of financial planning at BluePrint Wealth Alliance in Garden City, New York. “The greater the growth in the IRA and the longer the

If you ask your credit card issuer to drop an annual fee, waive late charges or reduce your interest rate, your credit card company is highly likely to say yes, according to a recent survey from CreditCards.com. The success rate, while good across the board, varied based on the type of request cardholders made: 85

Beyond the financial benefits to making early payments, there are mental advantages, too. Rubin at Edvisors says that starting payments early is a way to establish good financial habits before real life hits. “If you are making payments, you are already establishing a routine,” she said. “It’s also a constant reminder that it’s not free

Due largely to increasing demand and limited inventory, the median sale price for a home nationwide has reached $238,700, according to Zillow. Values have gone up 8.7 percent over the past year and are expected to rise another 6.5 percent within the next year. Much of the competition is for lower-priced houses, which means retirees

Some parents might not believe it’s worth it, he added. For example, when parents save for their child’s college expenses in a 529 plan, they could, in theory, have an almost two-decade-long investment timeline. “Whereas when you’re saving for K-12, and you start having to use your plan when your child enters first grade, that

As the tax advantages of alimony payments disappear in 2019, expect the individual retirement account to feature more prominently in divorce discussions. That’s a prediction from Ed Slott, CPA and founder of Ed Slott and Co. He hosted a discussion on IRA planning at the American Institute of CPA’s Engage conference in Las Vegas. Today,

Nearly 70 percent of households in the U.S. own a pet, according to a survey conducted by the American Pet Products Association. Of those pets, it is estimated that 1 in 3 will need emergency veterinary treatment every year. Emergency treatment can be a huge added expense for pet owners. According to Petplan, a pet

The U.S. tax system is a pay-as-you-earn deal. Workers who don’t have an employer withholding taxes from their paychecks are expected to pony up to the IRS as they make money throughout the year. Otherwise, look out. “If you owe more than $1,000 at the end of the year and you don’t qualify for one

Close to half of the participants said they didn’t have renter’s coverage. About a third of the respondents believed that their landlord or property management company would be responsible for damage and liability protection. Your landlord isn’t on the hook for damage to your belongings. You are. While the person who owns your dwelling likely

If your estate plan only saves your family from a hefty tax bill, then — surprise — it’s still not doing enough. That’s because while planning techniques may do an adequate job of covering possible tax problems, they likely do nothing to address family dynamics that will long outlive you and your savings, said Marve

For starters, credit card rates are already at a record high of 17 percent on average, according to Bankrate. Most credit cards have a variable rate, which means there’s a direct connection to the Fed’s benchmark rate, and as interest rates rise, card holders will continue to get squeezed. The typical American has a credit

What Amazon potentially has going for it in the home insurance space is name recognition, lots of consumer data and the ability to analyze it effectively. If it did have a home insurance offering, it would be very convenient for the 49 percent of American consumers that already have an Amazon Prime premium membership. But

The other most common reasons cited were to cover a financial emergency or medical expense. Less than 10 percent said it was to buy a home and just said 3 percent said they tapped their retirement savings to pay college costs. But for those with little or no savings, a lack of proper investment income

When it comes to managing health-care expenses, having insurance is only part of the battle. That’s because, even with coverage, individuals run into higher costs in the form of high deductibles, out-of-network fees and additional expenses related to testing that may not be useful. Carolyn McClanahan, an M.D. and director of financial planning at Life

He told her it was. “He’s bleeding a lot,” he added. Then, the man told her that if she didn’t send him money immediately he would let her father die. “I stopped mid-sob,” she said. She suspected it was a scam and hung up. Still, many people do end up sharing financial information over the

Other states moving toward offering it include Pennsylvania, West Virginia and Mississippi. The old law, the Professional and Amateur Sports Protection Act, largely outlawed sports betting outside of Nevada. As for taxation of your winnings: The new tax law that took effect this year continues to allow winners to deduct their gambling losses up to