Q: I am paying down several credit cards, as well as two auto loans. I received a bonus recently and thought it might be best used to pay off the collateralized auto loans instead of putting that money into my six-month savings. Please advise. A visitor, Ft Lauderdale, FL A: It’s always a good idea [...]
Q: I owe about $7,300 on two credit cards. I have two certificates of deposit maturing, for about the same amount of money. My question is, do I pay off those cards, or do I take a loan using those CDs as collateral and pay about 4% interest on the loan to pay off the [...]
Q: I was laid off six months ago. My health benefits with my former employer will expire soon. I was solicited by a contracting company, which traditionally does not offer benefits to a new contractor-employee. However, to bring me on board, they did offer me access to their medical and dental plan and sent me [...]
Q: I’ve been doing contract publicity work since experiencing a “reduction in force” in January. How do you recommend I handle earnings to avoid tax problems? I’ve never had tax problems, and I don’t need to start any. Tracey New, Dallas TX A: First, I’m sorry you lost your job, but it’s great that you [...]
Q: I love your show Singletary Says on TV One. I am learning a lot. However, I was unemployed for eight months. I’ve had a part-time job for the past year. I have just gotten a roommate, but I am having a hard time building my savings account back up, due to trying to “catch [...]
Q: My significant other just got approved for a home loan. I asked her to co-sign for a car for me. Would this affect the amount she was approved for? I don’t want it to affect her chances of getting the house of her dreams. So, I need some advice. Veronica, Houston, TX A: You [...]
Q: I’m a 52-year-old disabled lady on Social Security. When I was working, I was able to save around $30,000 in a retirement fund. Currently, it is still with the company. What is the best way to grow this money? I have lost several thousand dollars because of the stock market. Is it better to [...]
Q: Over the years, I’ve had bad luck managing my checking accounts. The “occasional” overdraft fee averaged $2,500 annually. I’ve since closed my accounts and gone with a pre-paid debit card company. These days, with banks collapsing without notice, how can I be sure of the integrity of this “new” industry and of a particular [...]
Our financial expert advises a first-time homebuyer with a large family.
Our financial expert offers resources for teaching girls about financial planning and wealth building.