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The advantages of being a commuter student, lifestyle crimp aside
I got the reaction I expected from my daughter when I suggested that for graduate school, to save money, she live at home.She shuddered.I understand her reservation. But for her greater good, my...
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The debt dialogue must be turned on its head
There is power in words.I cringe when I hear financial professionals argue there is “good debt” and “bad debt.” They typically put mortgages and student debt into a category of virtuousness.On the...
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Is your college freshman packing the best financial tools for the fall?
In a week or two, thousands of young adults will be heading to college for the first time, and they’ll be faced with a lot of financial choices. I wonder how prepared they will be. It’s not enough to...
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What’s the root of the financial favoritism debate? Plain old greed.
Already this summer, I’ve written a couple of columns about financial favoritism by parents. And the debate is still raging.The discussion kicked off after I got a question from a reader who said his...
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College students should master cash before getting a MasterCard
There is a method to what some readers consider my madness.Some people hate that I hate debt.Others disagree when I encourage families not to borrow for college.And, man, do I get a lot of e-mail when...
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No excuse for high-income families in subsidized low-income housing
Like so many, I was shocked to learn that some housing units set aside for low-income families are being occupied by people with six-figure salaries.The Department of Housing and Urban Development’s...
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Wisdom to see you through those heart-stopping big drops in the market
A newscaster broke into the regularly scheduled program with breaking news: The Dow Jones industrial average was down more than 1,000 points. The network showed frenzied people on the floor of the New...
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Financial proverbs for families of the college-bound
When I think of paying for college, I’m reminded of the opening lines from the original “Star Trek” TV series. “Space: the final frontier. These are the voyages of the starship Enterprise. Its...
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Striking a balance between saving and making debt payments
Although I can’t answer all the questions during my online discussions, I try to get to some that are particularly interesting. Many people are trying to follow the right path to pay off student loans....
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In New York, good riddance to a questionable hiring practice
Oooh, New York. If you can make it there, you can make it anywhere; that’s what they say. That’s a little spin on Alicia Keys’s “Empire State of Mind (Part II)” and its nod to Frank Sinatra. For job...
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Paying off student loans shouldn’t be a wedding gift
In just a little bit, we’ll begin to see Christmas holiday decorations, which start showing up even before Halloween. And along with the strings of lights all over the place will be a set of emotions...
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Is your adviser truly protecting your retirement?
There’s a discussion going on that is vital to the retirement money you’ve worked so hard to save. The Labor Department, directed by the Obama administration, is proposing that more advisers, when...
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Applying to college just got slightly less stressful
The Obama administration recently announced two changes that could help bring some financial common sense to college selection.One involved the Free Application for Federal Student Aid, or FAFSA as...
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In your 20s? Don’t squander your biggest financial asset: time
People are always trying to find the secret to financial success.But I’d like to address, in particular, the young folks who ask me how to get rich.If you’re young, you have something we older folks...
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Being debt-free is liberating and ideal, but not if you must give up family time
Anyone who reads my columns knows that I absolutely despise debt.Some people argue that there is “good debt” (a mortgage or student loans) and “bad debt” (credit-card debt and payday loans). I...
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The pope has left D.C., but his words remain: We must help the poor
Once the choirs have stopped singing and the homilies have been delivered, will Pope Francis’s urging that we all commit to helping the poor make a difference?I hope the pope’s advocacy of the poor not...
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College costs aren’t always worth it, alumni say, so think before borrowing
If you leave college with student loans, there’s a good chance you’ll end up feeling that your education wasn’t worth the liabilities you’ll have to carry.Gallup recently teamed with Purdue University...
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Calculating the right amount of roof for you
When my husband and I were shopping for our first home, real estate folks kept telling us how much we could afford.They would look over our gross income figures and declare that we weren’t shopping for...
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Monitoring your finances may be hard, but not doing it can mean big trouble
Every so often, my husband and I review our finances and revise our goals. We dig deep into the numbers, which often results in a reduction in our spending, an increase in our savings or both....
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Are you two compatible? Check your credit scores.
We often look for predictors to help us make the right choices. One of the key data points that lenders use to predict whether you’ll be able to pay back a loan is a credit score. The higher your...
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