Personal Finance News Round-Up for Wednesday, January 9, 2013
Here’s a review of top personal finance stories, columns and studies from publications, websites and blogs across the country.
50 ways to improve your finances this year
Many financial news writers offer small lists of tips to save money and earn more throughout the year. Kimberly Palmer of U.S. News and World Report decided to begin the year with a big list of 50 tactics and strategies that consumers can use to make more and keep more of their money.
Review the detailed list at Yahoo! Finance.
Jobs with increasing income
Salaries and wages for many jobs and fields took a big hit during the recent economic downturn. And while not all fields have recovered, some jobs are paying quite a bit more these days. Media, IT and construction are three of the top industries where specialists are seeing an increase in their compensation.
Read the full article at CNN Money.
Keeping your credit score as high as possible
Few things are more critical when it comes to your financial wellbeing than your credit score. Looking for a new smart phone? Hunting for a nicer apartment? Applying for a loan? All these pursuits and more typically involves someone is going to review your credit history and credit score in the process. Add to that the possibility that a prospective employer may also examine your credit. Regina Lewis of USA Today reviews some easy ways to make sure you’re managing your credit correctly, from watching when you open or close credit cards to how much of your credit limit you should actually use.
Read more at USA Today Money Quick Tips.
Fiscal Cliff update
Lawmakers in Washington, D.C. and the President came to an agreement just in time to avoid the fiscal cliff. But the resulting deal still impacts nearly every working American. Households earning more than $450,000 will be paying more in both income and capital gains taxes. Meanwhile, payroll taxes go up from 4.2% to 6.2% this year for everyone. Plus, there are many issues still unresolved, including how to nurture America’s economic growth.
Read more at US News & World Report.
Personal finance industry flaws revealed
A new book exposes some of the problems that plague the world of personal finance. Author Helaine Owen, herself a money and finance columnist, explains that good advice can be tainted by overly optimistic experts or firms with conflicts of interest. The best course for consumers is to only trust independent advisors and do their own homework.
Read the full article at Fox Business.
Retirement actions to avoid in 2013
The web has made it easier to access plenty of financial experts out telling you what you should be doing with your money. The Wall Street Journal MarketWatch recently decided to take a different tack and instead compiled a list of things not to do when it comes to making retirement decisions. Among the “don’ts” are the all-too-common mistakes of treating your home as an investment and drinking the Wall Street Gatorade.
Get the complete list of retirement don’ts at The Wall Street Journal MarketWatch.
Families need to talk honestly about money
According to a 2011 Charles Schwab survey, teens say their families have felt the effects of the economic recession and are more grateful now as a result. Talking to your teenagers regarding finances is important and USA Today has some helpful guidance, such as to make sure they understand you respect their privacy from the start and explaining impact of decisions.
Read more at USA Today.