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Handy Tools Ease the Pain
Manufactures have been making a name — and a profit — for themselves creating tools and gadgets to help consumers get a "better grip" on countless household tasks. And I'm not knocking it. But I love it when I don't have to …Read more.
Let the Decluttering Begin
I know it's time. It's been time for at least five years, possibly longer. I need to clean my kitchen. Now, before you send the Health Department to my address, let me explain. What I mean by "clean" is that I need to clean out and …Read more.
A Glimmer of Hope to Cling To
Think back to a low point in your life. Don't struggle with this, just try to recall when you were going through a difficult season and life seemed bleak. Now recall that first glimmer of hope you clung to as you could see that things were beginning …Read more.
Homemade Solutions Are Budget-friendly
Dear Mary: Do you have a homemade recipe for bathroom air freshener refills? I have Air Wick brand, and I'm wondering if there is an easier and cheaper way to refill it when it runs dry. — D.R., California
Dear D.R.: Four to eight drops of …Read more.
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Don't Be Embarrassed to Ask Money QuestionsDear Readers: I recently asked a group of women of all ages to tell me the money questions they most wanted answered. Because they could remain anonymous, the responses poured in. Q: I'm a stay-at-home mom and haven't had a paycheck since I was a teenager. Will I be eligible for Social Security benefits? A. If you are married, you will be eligible. Your Social Security retirement benefits are tied to your husband's. You can file when he does, provided you're at least 62 at that time. Your monthly check will be equal to 50 percent of his, if he waits until "full retirement age" to begin collecting benefits (65, 66 or 67 depending on the year he was born). If he opts to begin drawing early at 62, then your benefit will be reduced to 37.5 percent of his monthly check. (If you're single, divorced or widowed, the amounts vary.) We're not talking a lot of money here under the very best of circumstances, so plan on it as a supplement, not enough to live on. Go to the Social Security Administration website at www.ssa.gov, and check out the FAQs. This site is remarkably user-friendly. Q. If my parents die with a lot of debt, will I be responsible for paying it? A. You will not be responsible for their debts, unless you cosigned for a loan with them or you are a joint account holder on their credit card accounts. Your parents' debts will be paid out of their estate (everything they own, including real estate). Once their funeral expenses are taken care of, unpaid creditors are next in line to be paid.
If your parents die with little to no assets, their creditors eat the loss. Talk to your parents about their estate planning. Check out www.aarp.org, or type, "how to talk to your parents about estate planning," into a search engine. There's good, free advice available. Q. How can I break my payday loan cycle? A. Payday loan stores, check-cashing outfits and finance companies are making these small short-term, high-rate loans. They can charge 15 percent interest a week, so if you can't pay off the loan immediately, the next week you owe 30 percent. You can see where this is going, right? Maybe you only needed $100 to cover a short-term need, and a payday loan seemed so easy. You decided to get another one to cover that loan, and before you knew it, you owed more in fees than you ever borrowed. Figure out exactly how much you owe, and then figure out how to generate the money as quickly as possible. Ask for help from a friend, family member or credit union. Sell everything you can to raise that money, or pick up a weekend job. To learn more about why you should never take out these loans again, read "The Truth about Payday Loans" at www.Credit.com. Do you have a question for Mary? Email her at mary@everydaycheapskate.com, or write to Everyday Cheapskate, P.O. Box 2135, Paramount, CA 90723. Mary Hunt is the founder of www.DebtProofLiving.com, a personal finance member website. To find out more about Mary and read her past columns, please visit the Creators Syndicate Web page at www.creators.com. COPYRIGHT 2011 CREATORS.COM
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