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Tag Archives: debt

Personal Finance Daily: A ray of hope for people worried they missed a valuable tax break and Biden administration to cancel student debt held by scammed borrowers

Hi there, MarketWatchers. Don’t miss these top stories: Personal Finance Here’s a ray of hope for people worried they missed a valuable tax break on jobless benefits by filing too soon Though jobless benefits count as taxable income, one part of the sprawling law says the first $ 10,200 of …

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The Moneyist: I’m 28, have zero debt, a 401(k), Roth IRA and $45K in the bank. My parents want me to save for a home. I want a Tesla Model 3. Who’s right?

Dear Quentin, I’ve been flip-flopping back and forth between buying a new car or putting a down payment on my first home. With my parents being very money-minded and keeping a careful eye on my finances (still), I’m caught in a predicament. The original plan was to save up 20% …

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The Moneyist: I got into debt helping my mother financially. I even bought her a home and car. Don’t I have a right to put my husband first?

Dear Moneyist, I was raised by a single mother who sacrificed and worked very hard to give me and my siblings everything we needed growing up. Throughout my life I have tried to take care of my mom as best as I can, I give her money twice a month. …

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How to Buy a House with Student Loan Debt

If you want to buy a house but have student loan debt, you may be wondering if it’s possible. This article will look at how your eligibility for a mortgage loan can be affected by student loan debt and provide tips to help you qualify. Rate Search: Check Today’s Mortgage …

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What a Joe Biden presidency means for taxes, health care, housing, student debt — and another COVID-19 stimulus package

Joe Biden was projected Saturday to become the nation’s next president, according to the Associated Press, after campaigning on an ambitious domestic agenda he hopes will improve voters’ finances and invigorate an economy battered by the coronavirus pandemic. Tax hikes for the rich, broadened health care coverage and student loan …

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Market Extra: Auto debt complaints are soaring during pandemic

Cars line up at a COVID-19 test site at Dodger Stadium in Los Angeles. AFP/Getty Images Consumers struggling to keep up with their auto debts filed a record number of complaints with a key federal consumer watchdog agency in the first five months of the pandemic, according to a new …

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Outside the Box: Debt, wealth destruction and lower pay will be coronavirus’ legacy

Policy makers often describe their approach to the COVID-19 crisis as placing the economy in hibernation or an induced coma. In that sense, the restoration of normal functioning after the patient is revived will be the true measure of success. Post-pandemic recovery will experience effects that persist after the initial …

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Upgrade: I’m 59, and my husband and I earn $500,000 a year — but have credit card debt and nothing saved for retirement. What should we do?

Dear Catey, My husband is 65 and a lawyer and partner in his firm with a thriving practice; I am 59 years old. We have three children (more on that below), and I was fortunate to be a stay-at-home mom. I now work part time, which is essentially just “play” …

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Upgrade: I’m 40, will get a pension and have $60,000 saved for retirement. Should I borrow from it to pay off $17,500 in credit card debt?

Dear Catey, I am a 40-year-old law-enforcement officer and hope to retire in 13 or 14 years. At that time, I will have 30-plus years on the job with a pension giving me 70% of my current income with a cost-of-living annual percentage increase around 2% or 3%. Additionally I …

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