Advice

How to Score the Best Deal on Your Next Car

Joe D'Allegro

After a home and college tuition, buying a car is probably the largest purchase most of us will ever make. But while those first two expenses can potentially increase your financial stability over time, a vehicle will rarely appreciate. Just driving a new car off the lot decreases resale value by about 10 percent. So, how can you score the best deal possible? For starters, before you even hit the showroom, do your homework and narrow your options. “Be knowledgeable about pricing, trade-in values, financing and even insurance,” advises Matt DeLorenzo, a managing editor at Kelley Blue Book. “Things will go a lot smoother [with] the more information you have, and dealers respect buyers who have a command of the factors surrounding a sale.” You can find detailed pricing information…

When Saving Money Actually Costs You

Kali Hawlk

If you’re like most Americans, your top financial goals probably include upping your savings game—whether that means topping off (or setting up) your emergency fund or pumping up your retirement accounts. And for good reason: A third of Americans haven’t started saving for the future, and 46 percent can’t cover an expected $400 expense. Cutting costs is an obvious place to start when you’re looking for savings. “There are almost always a few expenses that are relatively easy to scale back,” says Matt Becker, a Certified Financial Planner™ and founder of Mom and Dad Money. “That’s usually the best route to quick progress.” Even a couple small wins under your belt—like negotiating a cheaper cable bill or canceling unused subscriptions—can motivate you to ramp up to bigger efforts. And before…

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Investing Strategies That Can Lower Your Tax Bill

Stacy Rapacon

The last few months of the year means pumpkin spice, holiday fun and…preparing for tax season. While that last one might not be exactly what you want to be thinking about right now, keeping your tax strategy in mind when it comes to investing can help you hold on to more of your money. And that’s definitely something worth celebrating. Here are four steps you can take to keep your tax bill down. 1. Hold on for the long-term. Fortunately, you don’t have to worry about paying taxes on gains your stocks made until you sell them, which means putting that off for a while can be a good strategy. If you sell your stocks within a year of purchasing them, and they’ve appreciated in value, they’re subject to short-term…

Trump vs. Clinton: What Would Either Presidency Mean for Your Money?

Bob Sullivan

The two leading candidates faced off again Wednesday night in the third and final presidential debate, which covered a range of topics—from immigration policies to who should be appointed to the Supreme Court. They also discussed issues that could have a direct effect on your personal finances. So, which major-party presidential candidate would be best for your bottom line? We can’t decide that for you. But we do have an overview of their current positions on issues likely to hit you straight in the wallet. (And, of course, you’re encouraged to explore their proposals yourself via the policy sections of Trump’s and Clinton’s websites.) Taxes Every political candidate tries to convince most voters that they will pay less in taxes—and someone or something else will pay for it. Democrats usually say the rich…

Are You Spooked By These Common Money Fears?

Marianne Hayes

Money woes keeping you up at night? Whether you’re worried about padding your retirement fund or paying off debt, you’re in good company. Gallup’s annual Economy and Personal Finance survey found financial anxiety is on the rise. A whopping 60 percent of Americans worry about not being able to cover medical costs for a serious illness or accident, for example, while 34 percent have anxiety about not even being able to pay their monthly housing costs. And nearly two-thirds of Americans fear they won’t have enough money saved by retirement. “We’re afraid of the thing itself and we don’t know what to do about it or how to address it,” says Hersh Shefrin, professor of behavioral finance at Santa Clara University. So, how can you wrangle runaway financial anxiety? First, identify the…

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“The only way to lose money over time in the stock market is to get out of the game.”