For a lot of historic and cultural reasons, men on average make more money than women. But averages are just that, and in many families, the wife earns more money than the husband. This shakes up traditional relationships, and not always for the better. How should people deal with that?Farnoosh … [Read more...] about What happens when she makes more? An interview with Farnoosh Torabi
Who needs long-term care insurance?
Long-term care insurance is a complicated topic. If your assets are low, you may not need it because you will qualify for Medicaid with little fuss and you probably need the money you would spend on premiums to live. If you are wealthy, you're probably better off spending your own money on long-term … [Read more...] about Who needs long-term care insurance?
‘Pay later’ plans: The fine print may cost you thousands
Although the true tightwad saves up money before buying anything, that doesn't work for most of us all the time. Sometimes, a refrigerator breaks down before we have time to save for a new one, the couch of our dreams goes on sale two months before the bonus check arrives, or a retailer is offering … [Read more...] about ‘Pay later’ plans: The fine print may cost you thousands
How to deal with debt collectors
Debt collectors have a way of tracking people down, and sometimes, they track down the wrong people. That's why it's important to know how debt collectors work. No matter what your credit rating, you may get a call one day. When that happens, you need to figure out how to deal with the collector and … [Read more...] about How to deal with debt collectors
Teaching kids about money with allowances
A lot of people are surprised that I run Chicago on the Cheap, because it seems like such a deviation for someone who wrote Hedge Funds For Dummies. However, you can't enter the world of high finance if you don't have money to invest. Here's something interesting I've learned over the years: Just … [Read more...] about Teaching kids about money with allowances
When medical bills go bad: Fixing costly insurance errors
Each year, the American Medical Association issues its health insurer report card, which reports on the costs and efficiency of health care billing. In 2013, they found that commercial health insurers made mistakes on 7.1% of submitted claims and denied coverage on another 1.8%. The numbers have … [Read more...] about When medical bills go bad: Fixing costly insurance errors
Grocery savings: Price book smacks down warehouse stores
A price book is simple, powerful cheapskate tool. You start taking notes of what particular items cost at different stores you shop. It does not have to be fancy; start by tracking items you usually buy, like this:PASTA Store brand: $0.89 (must buy 10 offer) Brand X: $1.25 Brand Y: … [Read more...] about Grocery savings: Price book smacks down warehouse stores
In over your head with debt? How to find real help
Nathan Rabin is a great writer who has published several books about pop culture. Among other things, he is the co-author of Weird Al Yankovic's biography, Weird Al: The Book. He also got himself in a mess of financial trouble that only got worse when he signed up with a … [Read more...] about In over your head with debt? How to find real help
10 ways to wipe out your student loan debt
Beginning July 1, new federal student loans will carry an interest rate of 6.8%, twice the 3.4% rate on loans issued last year. Given that student loans cannot be discharged in bankruptcy, the rate should be close to zero, as the lender has very little risk. But no one is listening to me!Student … [Read more...] about 10 ways to wipe out your student loan debt
5 steps to start saving with an IRA
A key savings goal for many people is retirement. To make it easier to reach that goal, the U.S. tax code offers a lot of advantages for saving through an Individual Retirement Account, sometimes called an Individual Retirement Arrangement, but most commonly known as an IRA.The bad news is that … [Read more...] about 5 steps to start saving with an IRA
Where’s the best place to save your money?
You're "saving" money, but what does that mean? If your frugal living is a means to generating money for retirement, a college fund or a down payment, you need to figure out how to get those savings out of your wallet and into some sort of account.It's a strangely mechanical problem, isn't … [Read more...] about Where’s the best place to save your money?
Get free – and legal – music and audiobooks
I love music, and I have always spent money on it. It is one of the things that I try to work into my budget, no matter what else is going on. In my search for new music, I have found a lot of sources of free music. That's great, because it can be hard to spend money on something that you have … [Read more...] about Get free – and legal – music and audiobooks
Credit or debit? What you should know about fraud
Banks push plastic, and how! Credit cards, debit cards and cash can all be used to buy things, but they have very different costs and benefits. The more you know, the less money you'll lose in fees and fraud charges.CardHub, a website that tracks the credit card industry, released its 2013 … [Read more...] about Credit or debit? What you should know about fraud
Create sweet Valentine’s Day crafts using photos
Between digital cameras, cellphones, and an influx of school portraits, most of us have tons of great photos. And where are they? Stuck in a drawer or, more likely, in a computer file. If you have these great shots, you should use them. Print them out and make some simple, inexpensive Valentine's … [Read more...] about Create sweet Valentine’s Day crafts using photos