PERSONAL FINANCE

Stop speeding, get the junk out of your trunk, and other strategies to save money at the gas pump

With gas prices spiking, drivers are looking for ways to cut their costs. Here are some strategies that can save you money — and other moves that may not reduce your costs as much as you think.

By Michelle SingletaryMarch 11, 2022
Perspective

Here’s how to avoid Ukraine charity scams

Scammers use current events to scare people into giving up personal information and their money. Here's how to avoid getting ripped off.

By Michelle SingletaryMarch 9, 2022
Perspective

Biden’s plans to help struggling Americans are like a kid’s long Christmas list — too optimistic

Biden's wish list of things to help struggling Americans is ambitious given the current gridlock in Congress.

By Michelle SingletaryMarch 4, 2022
Perspective

As used-car prices surge, a federal watchdog is warning lenders not to illegally repo people’s vehicles

In a preemptive move, the Consumer Financial Protection Bureau issued a warning to auto loan servicers about illegal repossessions as the price of used cars surges.

By Michelle SingletaryMarch 2, 2022
Perspective

Despite privacy concerns, ID.me nearly doubled the number of people able to create an IRS account

A significantly higher percentage of people have been able to set up an IRS account through ID.me compared to the legacy system, which had a success rate of about 40 percent. ID.me had a success rate of more than 70 percent.

By Michelle SingletaryFebruary 25, 2022
Perspective

Stock markets are turbulent, again. Here’s what experts say you should and shouldn’t do.

So far in 2022, the stock market has seen volatile days of trading. Here's what experts recommend for steering your retirement funds through the current turbulence depending on how close you are to retirement.

By Michelle SingletaryFebruary 24, 2022
Perspective

The FTC is going after companies behind those annoying auto warranty robocalls

The FTC alleges in a suit against a Florida-based company that consumers subjected to deceptive extended auto warranty policies were bilked out of $6 million.

By Michelle SingletaryFebruary 23, 2022
Perspective

Move over, crypto. A record number of workers are becoming millionaires with their boring 401(k)s and IRAs.

Many retirement-plan millionaires are government workers, educators, military service members or co-workers clocking in just like you. Many never earned six-figure salaries.

By Michelle SingletaryFebruary 18, 2022
Perspective

Eight scary automated IRS notices that are being suspended — for now

This has already been a tough tax season for the IRS. Faced with a backlog of millions of returns, the agency has said it is suspending many mailings to taxpayers, including balance-due notices and notices of unfiled tax returns.

By Michelle SingletaryFebruary 15, 2022
Perspective

No, that email from Equifax is not a scam. You are entitled to free credit monitoring for four years.

At long last, millions of consumers will get something from the massive Equifax data breach dating to 2017. As part of a settlement, Equifax is providing free four-year membership to an identity protection service.

By Michelle SingletaryFebruary 11, 2022
Perspective

Keep track of your Venmo, PayPal and other payment app transactions in case the IRS comes asking

There's a lot of misinformation about a new tax reporting requirement. Here's why you need to make sure you designate whether a payment on an app is to family or friends.

By Michelle SingletaryFebruary 8, 2022

Don’t file a paper return, call the IRS on a Wednesday, and other advice to get through a turbulent 2022 tax season

Tax season is going to be wild. So here's our indispensable guide to filing your 2021 taxes, all in one convenient place.

By Michelle SingletaryFebruary 4, 2022
Perspective

Banks make billions in overdraft and other ‘junk fees.’ Biden officials want that to end.

The Consumer Financial Protection Bureau, emboldened under President Biden, is targeting what the watchdog agency says are exploitative “junk fees,” such as bank overdraft fees, that drain tens of billions of dollars annually from American family budgets.

By Michelle SingletaryFebruary 1, 2022
Perspective

Three days after the 2022 tax season started, an overwhelmed IRS suspends some taxpayer notices

The IRS is so swamped it's already halting notices, just three days into tax season.

By Michelle SingletaryJanuary 28, 2022
BusinessPerspective

Here are the stocks that powered your 401(k) to a monster performance in 2020 and 2021 and are taking it right back down

What may not be immediately obvious in the market volatility of 2022 is that just seven companies — the same ones that drove the S&P to record highs — are now dragging the market down.

By Allan SloanJanuary 26, 2022
Perspective

In the long run, slow and steady stock-buying easily beats trying to time market dips, experts say

There are risks to basing your investing strategy solely on buying when the market is down. Experts recommend a more steady approach called "dollar-cost averaging."

By Michelle SingletaryJanuary 25, 2022

Venmo, PayPal and other payment apps have to tell the IRS about your side hustle if you make more than $600 a year.

The IRS isn't coming after your Venmo or Paypal transactions with friends and family. But it does want information on your side-hustle income.

By Michelle SingletaryJanuary 21, 2022
Perspective

Tapping retirement funds to invest in real estate is a terrible idea. For Baltimore’s top lawyer, it led to federal charges.

Baltimore’s chief prosecutor, Marilyn Mosby, has been accused of making false loan applications. Based on the court filing, she's at least guilty of making some bad money moves.

By Michelle SingletaryJanuary 18, 2022
Perspective

IRS delays triggered some premature collection notices

The IRS is so backed up that it has prematurely started collection actions in some cases because it hasn't got around to processing responses from taxpayers in time.

By Michelle SingletaryJanuary 14, 2022

Inflation: How you can beat it — or even benefit from it

As inflation sees its biggest annual rise in 40 years, take advice from the experts about how to beat inflation or even benefit from it.

By Michelle SingletaryJanuary 13, 2022