Money Monday: What to know about tax credit for other dependents
This week we are discussing the third of three important tax credits for taxpayers with dependents living in their homes. They can receive a $500 tax credit for each person, mom and dad, older grand children, sometimes not even family members. Watch the video above to learn the rules and how this can benefit you. Resources:More: Money Monday section
Here are some of the biggest money mistakes for couples
Is your significant other making money mistakes that are affecting you? If your significant other is making a money mistake thatโs affecting you, then youโll want to take a look at these tips. โCouples fight over money more than other things like chores, whatโs for dinner and togetherness,โ said money savings expert Andrea Woroch. Money can be a big source of strife with your significant other, especially if you donโt do this:โThe first common mistake I see a lot of couples make when it comes to money is postponing the โmoney talk,โโ said Woroch. And set aside free money in your budget so each of you have a spending account.
Money Monday: Understanding Roth IRA conversion
Rod Meloni is an Emmy Award-winning Business Editor on Local 4 News and a Certified Financial Plannerโข Professional. Copyright 2020 by WDIV ClickOnDetroit - All rights reserved. For more:Hereโs what you need to know. If you need help with the Public File, call (313) 222-0566.
Money Monday: IRA and Roth IRA thresholds 2021
Rod Meloni is an Emmy Award-winning Business Editor on Local 4 News and a Certified Financial Plannerโข Professional. Copyright 2020 by WDIV ClickOnDetroit - All rights reserved. For more information:Watch the video above. Hereโs what to know heading into 2021. If you need help with the Public File, call (313) 222-0566.
Money Monday: Saverโs credit
Rod Meloni is an Emmy Award-winning Business Editor on Local 4 News and a Certified Financial Plannerโข Professional. Copyright 2020 by WDIV ClickOnDetroit - All rights reserved. For more information:Watch the video above. Hereโs what to know about saverโs credit. If you need help with the Public File, call (313) 222-0566.
20 low and no-cost tips to help lower your energy bill this summer and all year long
One of the simplest ways to save money and energy at home is to swap out bulbs for ENERGY STAR certified LEDs. Homeowners can save about 10% of their total energy bills by sealing air leaks first, followed by adding insulation. Check your air filter every month, especially during months of heavy use. Seal off air leaks with foil faced tape rather than duct tape. For more low and no-cost tips to help you manage your energy use and lower your energy bill, click here.
Financial help: What senior investors should know about annuities
Annuities can be useful tools. But I dont recommend them, for the most part, especially for senior investors. These are the two annuities seniors should avoid at all costs:Variable life contracts Equity indexed or fixed annuitiesHere is why:They are complicated and confusing. They often come with nose-bleed fees and surrender charges usually built into the early contract years. They are meant for long-term investors -- sometimes up to 15 years -- meaning not for seniors.