Why to always use at least one credit card

By: Liz Weston

Certified financial planner David Rae said he used to think that “anyone who could draw breath” could get an auto loan. Then one of his millionaire clients tried to buy a car — and failed. The 42-year-old client was turned down for a loan because he had no credit scores, said Rae, who is based in Los Angeles. Nineteen million American adults are “unscoreable,” lacking enough ... READ MORE

A scammer reveals his secrets

By: Robert Friedman

You pick up the phone and are told “This is Sgt. Johnson of the Howard County police. We’re holding your grandson on charges of drunken driving.” You are given your grandson’s full name, age and home address, and the name of his girlfriend who was in the car with him. You’re told that your grandson gave police your name because he didn’t want to have his parents informed. He... READ MORE

What to do with an older car: fix or sell?

By: Philip Reed

You’re looking at a $1,200 repair estimate for your ailing car when an ad catches your eye: a brand new set of wheels for a mere $450 a month. At first, dumping your old car might seem like a no-brainer — and you can’t help picturing how good you would look in that new car. But automotive experts say you’ll almost always come out ahead — at least financially — by fixing old... READ MORE

Thinking, and writing, about your legacy

By: Laura A. Roser

About half of Americans create at least one New Year’s resolution at the start of a new year, and most of those will have become a distant memory within months. But something you do at any time, and that can make a meaningful difference, is to draw up your own Personal Legacy Statement. It’s like an estate plan, but instead of focusing on finances, it focuses on what kind of life you ... READ MORE

Money market funds offering juicier yields

By: Lisa Gerstner

For years, money market mutual funds have paid practically nothing. But each time the Federal Reserve lifts short-term interest rates, yields on money market funds tend to rise in tandem. “That’s one of their most attractive qualities,” said Peter Crane, president of Crane Data, a money fund research company. Many money funds yield more than 1 percent, and Crane expects yields on... READ MORE

How rising interest rates affect your money

By: Anya Kamenetz

After years at rock bottom, interest rates are moving slowly and steadily upward. In late March, the Federal Reserve raised its benchmark lending rate to a range between 1.50 percent and 1.75 percent, the highest point since the 2008 financial crisis. The median forecast reported is for another three nudges upward this year. In April, Fed Chairman Jerome Powell reiterated the central... READ MORE