Skip to main content
Updating results

Borrowing

MoneyTips

When your identity is stolen, you have so many potential issues to deal with — changing passwords, closing accounts, dealing with fraudulent charges, and placing fraud alerts with the credit reporting agencies — that you may forget about potential tax fraud. Armed with your personal information, identity thieves can file a fraudulent tax return in your name and receive a refund before you realize your information has been compromised. Sometimes taxpayers are unaware of the breach until they have problems filing their taxes.

What do you do if you fall victim to tax-related identity theft? Start by responding to any IRS notice as instructed. Your first hint that there is an issue could be a notice from the IRS asking you to verify your identity because of a suspicious tax return with your Social Security number.

Remember that almost all legitimate IRS contact will be through a letter in the ...

How To Avoid Being A Tax-Scam Victim

IRS Reveals The Top Tax Scams Of 2019

Video: How To Catch Identity Theft Before It Hurts You

MoneyTips

When your identity is stolen, you have so many potential issues to deal with — changing passwords, closing accounts, dealing with fraudulent charges, and placing fraud alerts with the credit reporting agencies — that you may forget about potential tax fraud. Armed with your personal information, identity thieves can file a fraudulent tax return in your name and receive a refund before you realize your information has been compromised. Sometimes taxpayers are unaware of the breach until they have problems filing their taxes.

What do you do if you fall victim to tax-related identity theft? Start by responding to any IRS notice as instructed. Your first hint that there is an issue could be a notice from the IRS asking you to verify your identity because of a suspicious tax return with your Social Security number.

Remember that almost all legitimate IRS contact will be through a letter in the ...

How To Avoid Being A Tax-Scam Victim

IRS Reveals The Top Tax Scams Of 2019

Video: How To Catch Identity Theft Before It Hurts You

  • Updated

MoneyTips

The housing bubble from several years ago put a significant number of homeowners in a terrible position. Due to plummeting real estate prices, the market value of their homes fell below the corresponding mortgage amounts, thus classifying these homes as "underwater.”

The government established relief programs to help underwater homeowners refinance their mortgages (such as the HARP program), and provided tax relief through the Mortgage Forgiveness Debt Relief Act of 2015. This legislation waived taxes on reductions of debt through refinancing, or forgiveness of debt incurred from a short sale or foreclosure of your house.

Normally, these debt reductions are considered taxable income. It may seem odd, but it makes sense from an accounting perspective. If a bank accepted your house for $50,00...

A Million Fewer Underwater Homeowners

Mortgages Can Be The Most Burdensome Type Of Debt

HAMP Loan Modifications Starting to End

  • Updated

MoneyTips

The housing bubble from several years ago put a significant number of homeowners in a terrible position. Due to plummeting real estate prices, the market value of their homes fell below the corresponding mortgage amounts, thus classifying these homes as "underwater.”

The government established relief programs to help underwater homeowners refinance their mortgages (such as the HARP program), and provided tax relief through the Mortgage Forgiveness Debt Relief Act of 2015. This legislation waived taxes on reductions of debt through refinancing, or forgiveness of debt incurred from a short sale or foreclosure of your house.

Normally, these debt reductions are considered taxable income. It may seem odd, but it makes sense from an accounting perspective. If a bank accepted your house for $50,00...

A Million Fewer Underwater Homeowners

Mortgages Can Be The Most Burdensome Type Of Debt

HAMP Loan Modifications Starting to End

MoneyTips


By Andrea Woroch

Money is a top concern for most Americans these days and, with so much uncertainty still ahead, it's important to create financial security for yourself and your family as we enter into this new year.

Improving your finances may seem like a daunting process, but getting started is half the battle. Here are five money moves you can tackle now to get the momentum going.

1. Plug budget leaks.

Considering that 35% of Americans have less savings now than before the coronavirus took hold of our country, according to a recent survey from Bankrate.com, finding areas in your budget to rebuild savings should be a priority for the new year. Rebuilding an emergency fund may seem impossible now, but you may be surprised ho...

How To Accomplish A Financial Resolution By Year's End

Baby Boomers Focused More on Weight than Wallets

5 Tips For Making Financial Resolutions For The New Year

  • Updated

MoneyTips


By Andrea Woroch

Money is a top concern for most Americans these days and, with so much uncertainty still ahead, it's important to create financial security for yourself and your family as we enter into this new year.

Improving your finances may seem like a daunting process, but getting started is half the battle. Here are five money moves you can tackle now to get the momentum going.

1. Plug budget leaks.

Considering that 35% of Americans have less savings now than before the coronavirus took hold of our country, according to a recent survey from Bankrate.com, finding areas in your budget to rebuild savings should be a priority for the new year. Rebuilding an emergency fund may seem impossible now, but you may be surprised ho...

How To Accomplish A Financial Resolution By Year's End

Baby Boomers Focused More on Weight than Wallets

The 5 Types Of Financial Resolutions

MoneyTips

Some people swipe credit cards haphazardly during the holidays and accrue debt with little thought to the aftermath. It is also common for folks to blow their year-end bonuses on big ticket items before ever receiving them. People get swept up in the emotions of the holidays without considering the financial ramifications.

In an effort to help curve these spending habits and assist folks in eliminating debt in 2016, MoneyTips took to Blab.im on December 18th for the latest installment in the MoneyTips Finance Friday discussions. Host Justin Simon was joined by sage financial experts Miranda Marquit and John Schneider of the Debt Free Guys. Watch the full replay below for all of their insights.


Miranda Marquit is the financial blogging...

More Subprime Consumers Are Using Credit Cards

Consequences Of The Millennial/Debt Relationship

Mortgage Approval Easier Without Credit Card Debt

  • Updated

MoneyTips

Some people swipe credit cards haphazardly during the holidays and accrue debt with little thought to the aftermath. It is also common for folks to blow their year-end bonuses on big ticket items before ever receiving them. People get swept up in the emotions of the holidays without considering the financial ramifications.

In an effort to help curve these spending habits and assist folks in eliminating debt in 2016, MoneyTips took to Blab.im on December 18th for the latest installment in the MoneyTips Finance Friday discussions. Host Justin Simon was joined by sage financial experts Miranda Marquit and John Schneider of the Debt Free Guys. Watch the full replay below for all of their insights.


Miranda Marquit is the financial blogging...

More Subprime Consumers Are Using Credit Cards

Consequences Of The Millennial/Debt Relationship

Mortgage Approval Easier Without Credit Card Debt

MoneyTips


Holiday Debt On the Increase

Are your credit cards still smoking from holiday overuse? Based on a recent MagnifyMoney survey, it wouldn't be surprising.

Consumers who financed their holiday spending averaged $1,381 in holiday spending debt – a six-year high and a sharp increase from 2019's $1,325. Increases in wages and consumer confidence are at least partly to blame. Did a personal increase in wages and confidence lead you into a mountain of holiday debt?

We've given previous tips on dealing with excessive holiday debt. You've got more debt – so we've got five more tips, for a total of 10.

6. Slice Your Budget Further

To pay off holiday debt, you can't settle for paying off your monthl...

10 Tips For Dealing With Holiday Debt, Part 1

Avoid Debt This Holiday Season

7 Things To Do Now To Avoid New Debt This Holiday Season

  • Updated

MoneyTips


Holiday Debt On the Increase

Are your credit cards still smoking from holiday overuse? Based on a recent MagnifyMoney survey, it wouldn't be surprising.

Consumers who financed their holiday spending averaged $1,381 in holiday spending debt – a six-year high and a sharp increase from 2019's $1,325. Increases in wages and consumer confidence are at least partly to blame. Did a personal increase in wages and confidence lead you into a mountain of holiday debt?

We've given previous tips on dealing with excessive holiday debt. You've got more debt – so we've got five more tips, for a total of 10.

6. Slice Your Budget Further

To pay off holiday debt, you can't settle for paying off your monthl...

10 Tips For Dealing With Holiday Debt, Part 1

Avoid Debt This Holiday Season

7 Things To Do Now To Avoid New Debt This Holiday Season

MoneyTips

Santa was not so kind to your friends and relatives this year, so you felt the need to fill the gap. You overspent on holiday gifts, and now you are stuck with a significant amount of holiday debt. Gratitude from gift recipients is a great feeling, but gratitude is not going to pay off your MasterCard bill. If it's any comfort, you're not alone; according to one report, Americans racked up an average of $1,325 in debt last holiday season.

What do you do? Start with the classic bit of advice – "if you are in a hole, stop digging." Recognize that you overspent, and freeze your spending until you can take the following steps.

How to Reduce Holiday Debt

  1. Assess the Situation and Rebalance the Budget – Face up to your debt and total up the damage. Rebalance your budget to account for this new debt, and look for any budgeted spending that you can temporarily drop. You will need to eat out less often and delay other discretionary spendi...

10 Tips For Dealing With Holiday Debt, Part 2

Avoid Debt This Holiday Season

7 Things To Do Now To Avoid New Debt This Holiday Season

  • Updated

MoneyTips

Santa was not so kind to your friends and relatives this year, so you felt the need to fill the gap. You overspent on holiday gifts, and now you are stuck with a significant amount of holiday debt. Gratitude from gift recipients is a great feeling, but gratitude is not going to pay off your MasterCard bill. If it's any comfort, you're not alone; according to one report, Americans racked up an average of $1,325 in debt last holiday season.

What do you do? Start with the classic bit of advice – "if you are in a hole, stop digging." Recognize that you overspent, and freeze your spending until you can take the following steps.

How to Reduce Holiday Debt

  1. Assess the Situation and Rebalance the Budget – Face up to your debt and total up the damage. Rebalance your budget to account for this new debt, and look for any budgeted spending that you can temporarily drop. You will need to eat out less often and delay other discretionary spendi...

10 Tips For Dealing With Holiday Debt, Part 2

Avoid Debt This Holiday Season

7 Things To Do Now To Avoid New Debt This Holiday Season

MoneyTips

You're determined to make 2021 the year you raise your credit score. Why not get off to a good start with these five New Year's resolutions to send your credit score in the right direction?

1. Resolve to Check Your Credit Report – All your efforts will go to waste if identity thieves have already ruined your credit by opening accounts in your name and racking up unpaid bills.

Check your credit report and look for any errors, rogue accounts, or fraudulent charges on your existing accounts. Address any problems as quickly as possible with the credit reporting agencies to limit the damage. Monitor your credit score regularly to gauge your progress and follow up with at least one more credit report check during the year. You can check your credit score and read your credit report for free within minutes by 2 In 5 Believe Age Affects Credit Score

Survey: Women More Likely Than Men To Miss A Credit Card Payment

6 Ways A Budget Can Help Your Credit Score

  • Updated

MoneyTips

You're determined to make 2021 the year you raise your credit score. Why not get off to a good start with these five New Year's resolutions to send your credit score in the right direction?

1. Resolve to Check Your Credit Report – All your efforts will go to waste if identity thieves have already ruined your credit by opening accounts in your name and racking up unpaid bills.

Check your credit report and look for any errors, rogue accounts, or fraudulent charges on your existing accounts. Address any problems as quickly as possible with the credit reporting agencies to limit the damage. Monitor your credit score regularly to gauge your progress and follow up with at least one more credit report check during the year. You can check your credit score and read your credit report for free within minutes by 2 In 5 Believe Age Affects Credit Score

Survey: Women More Likely Than Men To Miss A Credit Card Payment

6 Ways A Budget Can Help Your Credit Score

MoneyTips

Can you avoid a New Year's Day hangover? We're not referring to the traditional hangover that comes from too much alcohol, but the financial hangover that comes from too many charges on your credit card.

Of course, you can avoid a New Year's credit hangover – especially with some help. Consider these eleven ways to keep holiday purchases under control.

1. Set a Holiday Budget – Review your overall budget, and then decide how much you can afford to spend for holiday gifts given your other expenses (including end-of-year expenses like property taxes and annual subscriptions). Don't let gift expectations drive your budget – let your budget set gift choices.

2. Make a Gift List – Divide up your gift budget among all your recipients and find gifts that fit within the desired budget. Start early, so you have time to look for the best pri...

9 Holiday Shopping Tips

7 Tips To Budget Holiday Spending

How To Avoid Overspending This Holiday Season

  • Updated

MoneyTips

Can you avoid a New Year's Day hangover? We're not referring to the traditional hangover that comes from too much alcohol, but the financial hangover that comes from too many charges on your credit card.

Of course, you can avoid a New Year's credit hangover – especially with some help. Consider these eleven ways to keep holiday purchases under control.

1. Set a Holiday Budget – Review your overall budget, and then decide how much you can afford to spend for holiday gifts given your other expenses (including end-of-year expenses like property taxes and annual subscriptions). Don't let gift expectations drive your budget – let your budget set gift choices.

2. Make a Gift List – Divide up your gift budget among all your recipients and find gifts that fit within the desired budget. Start early, so you have time to look for the best pri...

9 Holiday Shopping Tips

7 Tips To Budget Holiday Spending

How To Avoid Overspending This Holiday Season

  • Updated

MoneyTips

Does your Christmas season usually lead to the January blues due to excessive holiday spending? It doesn't have to be that way. With a combination of planning and willpower, you can enjoy a festive holiday without starting the New Year in a big financial hole. Consider these nine ways to celebrate while staying fiscally responsible.

1. Limit Gift Spending – Start by establishing a shopping list and a budget for all of your items. Track special holiday online offers. Consider using price comparison apps and websites. Take advantage of any coupons. Large families can save by drawing names for a gift exchange instead of trying to buy multiple smaller gifts for every family member. If you want more credit, check out our list of credit card offers.

2. Reject Impulse Buying – Retailers expect you to impulse buy...

11 Tips To Avoid A New Year's Credit Hangover

9 Holiday Shopping Tips

7 Tips To Avoid A New Year's Credit Hangover

  • Updated

MoneyTips

Does your Christmas season usually lead to the January blues due to excessive holiday spending? It doesn't have to be that way. With a combination of planning and willpower, you can enjoy a festive holiday without starting the New Year in a big financial hole. Consider these nine ways to celebrate while staying fiscally responsible.

1. Limit Gift Spending – Start by establishing a shopping list and a budget for all of your items. Track special holiday online offers. Consider using price comparison apps and websites. Take advantage of any coupons. Large families can save by drawing names for a gift exchange instead of trying to buy multiple smaller gifts for every family member. If you want more credit, check out our list of credit card offers.

2. Reject Impulse Buying – Retailers expect you to impulse buy...

11 Tips To Avoid A New Year's Credit Hangover

9 Holiday Shopping Tips

7 Tips To Avoid A New Year's Credit Hangover

  • Updated

MoneyTips

Are the holidays not hectic enough for you? Put aside your gift list for a moment; how about adding a home sale to your to-do list?

Most people avoid selling their homes during the holidays, but you may not have any choice in the matter. If you need to sell your home around the end of the year, here are seven tips to help your sale go smoothly.

  1. Minimize Holiday Decorations – Not everyone has the same love of holiday decorations, and poorly maintained, tacky, or overly religious displays can be a turnoff for potential buyers. Keep the seasonal decorations simple and easy to maintain.

    That applies to the outside as well as the inside of your home – avoid browning out the neighborhood with your awesome light display.

  2. Keep It Clean – Keeping the home free of tracked-in mud, snow, and other debris is even tougher in the winter months, and arguably even more important. Vacuum well and vacuum often.
    ...

7 Home-Selling Mistakes to Avoid

10 Ways To Prep Your Home For Showings

Using Videos To Sell Your Home

MoneyTips

What brightens up your holiday shopping season? You may prefer a quiet Christmas season at home, large family gatherings at the home of the relative who drew the short straw, or hand-to-hand combat on Black Friday at the mall. However, everyone agrees that saving money on Christmas shopping gives the holiday an extra layer of cheer. Here are nine suggestions to increase your holiday cheer and your savings account simultaneously.

1. Make a List – Avoid the temptation to go shopping without a list and look for holiday inspiration. You'll find inspiration, along with many gift items you didn't really want at a higher price than you should have paid. Know what you are shopping for and avoid costly holiday "mission creep." After all, even Santa makes a list (and checks it twice).

2. Make a Budget – A budget is the key to any form of saving. Once ...

4 Steps You Need To Take NOW To Save On Holiday Gifts

11 Tips To Avoid A New Year's Credit Hangover

Price-Matching Credit Cards

  • Updated

MoneyTips

What brightens up your holiday shopping season? You may prefer a quiet Christmas season at home, large family gatherings at the home of the relative who drew the short straw, or hand-to-hand combat on Black Friday at the mall. However, everyone agrees that saving money on Christmas shopping gives the holiday an extra layer of cheer. Here are nine suggestions to increase your holiday cheer and your savings account simultaneously.

1. Make a List – Avoid the temptation to go shopping without a list and look for holiday inspiration. You'll find inspiration, along with many gift items you didn't really want at a higher price than you should have paid. Know what you are shopping for and avoid costly holiday "mission creep." After all, even Santa makes a list (and checks it twice).

2. Make a Budget – A budget is the key to any form of saving. Once ...

4 Steps You Need To Take NOW To Save On Holiday Gifts

11 Tips To Avoid A New Year's Credit Hangover

Price-Matching Credit Cards

MoneyTips


Practice Safe Shopping

What does Black Friday protection mean to you? Maybe it's helmets and elbow pads as you battle your fellow consumers for doorbuster deals. Maybe it's protecting your space in line.

Maybe it should be taking precautions to prevent identity theft.

The holidays represent peak season for identity thieves – probably because there are more transactions and more opportunities for theft. According to 2018 data compiled by ACI Worldwide, the number of "buy online, pick up in-store" (BOPIS) transactions between Thanksgiving Day and December 31 increased by 20% over 2017, while attempted fraud over the same period increased by 13%.

Reduce your chances of identity theft over the Thanksgiving weekend by following these common-sense methods for practicing "safe shopping."

Seven Ways to Thwart Black Friday Fraudsters

1. Protect Your Purse/Wallet –

5 Black Friday Shopping Tips

Price-Matching Credit Cards

7 Tips For Cyber Monday Shopping

  • Updated

MoneyTips


Practice Safe Shopping

What does Black Friday protection mean to you? Maybe it's helmets and elbow pads as you battle your fellow consumers for doorbuster deals. Maybe it's protecting your space in line.

Maybe it should be taking precautions to prevent identity theft.

The holidays represent peak season for identity thieves – probably because there are more transactions and more opportunities for theft. According to 2018 data compiled by ACI Worldwide, the number of "buy online, pick up in-store" (BOPIS) transactions between Thanksgiving Day and December 31 increased by 20% over 2017, while attempted fraud over the same period increased by 13%.

Reduce your chances of identity theft over the Thanksgiving weekend by following these common-sense methods for practicing "safe shopping."

Seven Ways to Thwart Black Friday Fraudsters

1. Protect Your Purse/Wallet –

5 Black Friday Shopping Tips

Price-Matching Credit Cards

7 Tips For Cyber Monday Shopping

MoneyTips

Moving during the holidays can be a headache with all the seasonal activities and obligations – not to mention unpleasant weather in many locations. However, there are plenty of positives to buying a home during the holidays that may make the headaches of moving worth the effort, including the seven listed below.

1. Less Competition – The same issues that make holiday moving a hassle tend to keep people from shopping for homes at that time. While there may be fewer homes available, there are also fewer homebuyers – and that should equal less competition for any home that fits your needs.

2. Motivated Sellers – Home sellers don't enjoy moving over the holidays any more than homebuyers do. It's likely that people who are selling their homes over the holidays are highly motivated to do so. Perhaps they must relocate for a new job, or their home has been on the market for a long time and they need the money from a sale before the yea...

All About Real Estate Disclosures

Homebuilder Confidence Highest in a Decade

How to Pick a Realtor

  • Updated

MoneyTips

Moving during the holidays can be a headache with all the seasonal activities and obligations – not to mention unpleasant weather in many locations. However, there are plenty of positives to buying a home during the holidays that may make the headaches of moving worth the effort, including the seven listed below.

1. Less Competition – The same issues that make holiday moving a hassle tend to keep people from shopping for homes at that time. While there may be fewer homes available, there are also fewer homebuyers – and that should equal less competition for any home that fits your needs.

2. Motivated Sellers – Home sellers don't enjoy moving over the holidays any more than homebuyers do. It's likely that people who are selling their homes over the holidays are highly motivated to do so. Perhaps they must relocate for a new job, or their home has been on the market for a long time and they need the money from a sale before the yea...

All About Real Estate Disclosures

Homebuilder Confidence Highest in a Decade

How to Pick a Realtor

Get up-to-the-minute news sent straight to your device.

Topics

Breaking News

News Alert