{"appState":{"pageLoadApiCallsStatus":true},"categoryState":{"relatedCategories":{"headers":{"timestamp":"2023-02-01T16:01:12+00:00"},"categoryId":34311,"data":{"title":"General Personal Finance","slug":"general-personal-finance","image":{"src":null,"width":0,"height":0},"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"General Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"},"slug":"general-personal-finance","categoryId":34311}],"parentCategory":{"categoryId":34273,"title":"Personal Finance","slug":"personal-finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"}},"childCategories":[],"description":"Level up your savings plan, make money apprentices out of your kids, avoid the scammers lurking in the shadows, and generally become a money whiz.","relatedArticles":{"self":"https://dummies-api.dummies.com/v2/articles?category=34311&offset=0&size=5"},"hasArticle":true,"hasBook":true,"articleCount":30,"bookCount":7},"_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"}},"relatedCategoriesLoadedStatus":"success"},"listState":{"list":{"count":10,"total":30,"items":[{"headers":{"creationTime":"2016-03-26T07:13:43+00:00","modifiedTime":"2022-08-16T18:13:06+00:00","timestamp":"2022-09-14T18:19:55+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"General Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"},"slug":"general-personal-finance","categoryId":34311}],"title":"How to Avoid a Shady Financial Planner for Your Personal Finances","strippedTitle":"how to avoid a shady financial planner for your personal finances","slug":"how-to-avoid-a-shady-financial-planner-for-your-personal-finances","canonicalUrl":"","seo":{"metaDescription":"Learn how to spot a shady financial planner, including cold callers and solicitors who say they are teachers offering \"free\" courses.","noIndex":0,"noFollow":0},"content":"<!-- [if gte mso 9]><xml> <o:OfficeDocumentSettings> <o:AllowPNG /> </o:OfficeDocumentSettings> </xml><![endif]-->\r\n\r\n<!-- [if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves /> <w:TrackFormatting /> <w:PunctuationKerning /> <w:ValidateAgainstSchemas /> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> 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/>\r\n\tmso-tstyle-colband-size:0;<br />\r\n\tmso-style-noshow:yes;<br />\r\n\tmso-style-priority:99;<br />\r\n\tmso-style-parent:\";<br />\r\n\tmso-padding-alt:0in 5.4pt 0in 5.4pt;<br />\r\n\tmso-para-margin:0in;<br />\r\n\tmso-para-margin-bottom:.0001pt;<br />\r\n\tmso-pagination:widow-orphan;<br />\r\n\tfont-size:10.0pt;<br />\r\n\tfont-family:\"CG Times (W1)\",\"serif\";}<br />\r\n</style><![endif]-->\r\n\r\nThe channel through which you hear of a financial planner may provide clues to the planner’s integrity and way of doing business. Beware of planners you find (or who find you) through these avenues:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\"><strong>Cold calling:</strong> You’ve just come home after a hard day. No sooner have you sat down to dinner when the phone rings. It’s Joe the financial planner, and he wants to help you achieve all your financial dreams. <em>Cold calling</em> (whereby the salesperson calls you, without an appointment) is the most inefficient way for a planner to get new clients. Cold calling is intrusive, and it’s typically used by aggressive salespeople who work on commission.</p>\r\n<p class=\"child-para Tip\">Keep a log beside your telephone. Record the date, time, name of the organization, and name of the caller every time you receive a cold call. Politely but firmly tell cold callers to never call you again. Then, if they do call you again, you can collect $500 in small claims court!</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><strong>Adult education classes:</strong> Here’s what often happens at the adult education classes that are offered at local universities: You pay a reasonable fee for the course. You go to class giddy at the prospect of learning how to manage your finances. And then the instructor ends up being a broker or financial planner hungry for clients. He confuses more than he conveys. He’s short on specifics. But he’s more than happy to show you the way if you contact (and hire) him outside of class.</p>\r\n<p class=\"child-para\">The instructors for these courses are paid to teach. They don’t need to solicit clients in class, and, in fact, it’s unethical for them to do so. Part of the problem is that some universities take advantage of the fact that such “teachers” want to solicit business, setting the pay at a low level. So never assume that someone who is teaching a financial-planning course at a local college is ethical, competent, or looking out for your best interests.</p>\r\n<p class=\"child-para\">Ethical instructors who are there to teach do not solicit clients. In fact, they may actively discourage students from hiring them. Smart universities pay their instructors well and weed out those who are more interested in building their client base than they are in teaching.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><strong>“Free” seminars:</strong> This is a case of “you get what you pay for.” Because you don’t pay a fee to attend “free seminars” and the “teachers” don’t get paid either, these events tend to be clear-cut sales pitches. The “instructor” may share some information, but smart seminar leaders know that the goal of a successful seminar is to establish themselves as experts and to whet the prospects’ appetites.</p>\r\n<p class=\"child-para Warning\">Be wary of seminars targeted at select groups, such as special seminars for people who have received retirement-plan distributions or seminars touting “Financial Planning for Women.” Financial planning is not specific to gender, ethnicity, or marital status.</p>\r\n<p class=\"child-para\">Don’t assume that the financial planner giving a presentation at your employer’s office is the right planner for you, either. You may be surprised at how little some corporate benefits departments investigate the people they let in. In most cases, planners are accepted simply because they don’t charge.</p>\r\n</li>\r\n</ul>\r\n<h5>Copyright © 2016 Eric Tyson. All rights reserved</h5>","description":"<!-- [if gte mso 9]><xml> <o:OfficeDocumentSettings> <o:AllowPNG /> </o:OfficeDocumentSettings> </xml><![endif]-->\r\n\r\n<!-- [if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves /> <w:TrackFormatting /> <w:PunctuationKerning /> <w:ValidateAgainstSchemas /> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF /> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>JA</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables /> <w:SnapToGridInCell /> <w:WrapTextWithPunct /> <w:UseAsianBreakRules /> <w:DontGrowAutofit /> <w:SplitPgBreakAndParaMark /> <w:EnableOpenTypeKerning /> <w:DontFlipMirrorIndents /> <w:OverrideTableStyleHps /> </w:Compatibility> <m:mathPr> <m:mathFont m:val=\"Cambria Math\" /> <m:brkBin 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Name=\"Book Title\" /> <w:LsdException Locked=\"false\" Priority=\"37\" Name=\"Bibliography\" /> <w:LsdException Locked=\"false\" Priority=\"39\" QFormat=\"true\" Name=\"TOC Heading\" /> </w:LatentStyles> </xml><![endif]--><!-- [if gte mso 10]>\r\n\r\n<style>\r\n /* Style Definitions */<br />\r\n table.MsoNormalTable<br />\r\n\t{mso-style-name:\"Table Normal\";<br />\r\n\tmso-tstyle-rowband-size:0;<br />\r\n\tmso-tstyle-colband-size:0;<br />\r\n\tmso-style-noshow:yes;<br />\r\n\tmso-style-priority:99;<br />\r\n\tmso-style-parent:\";<br />\r\n\tmso-padding-alt:0in 5.4pt 0in 5.4pt;<br />\r\n\tmso-para-margin:0in;<br />\r\n\tmso-para-margin-bottom:.0001pt;<br />\r\n\tmso-pagination:widow-orphan;<br />\r\n\tfont-size:10.0pt;<br />\r\n\tfont-family:\"CG Times (W1)\",\"serif\";}<br />\r\n</style><![endif]-->\r\n\r\nThe channel through which you hear of a financial planner may provide clues to the planner’s integrity and way of doing business. Beware of planners you find (or who find you) through these avenues:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\"><strong>Cold calling:</strong> You’ve just come home after a hard day. No sooner have you sat down to dinner when the phone rings. It’s Joe the financial planner, and he wants to help you achieve all your financial dreams. <em>Cold calling</em> (whereby the salesperson calls you, without an appointment) is the most inefficient way for a planner to get new clients. Cold calling is intrusive, and it’s typically used by aggressive salespeople who work on commission.</p>\r\n<p class=\"child-para Tip\">Keep a log beside your telephone. Record the date, time, name of the organization, and name of the caller every time you receive a cold call. Politely but firmly tell cold callers to never call you again. Then, if they do call you again, you can collect $500 in small claims court!</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><strong>Adult education classes:</strong> Here’s what often happens at the adult education classes that are offered at local universities: You pay a reasonable fee for the course. You go to class giddy at the prospect of learning how to manage your finances. And then the instructor ends up being a broker or financial planner hungry for clients. He confuses more than he conveys. He’s short on specifics. But he’s more than happy to show you the way if you contact (and hire) him outside of class.</p>\r\n<p class=\"child-para\">The instructors for these courses are paid to teach. They don’t need to solicit clients in class, and, in fact, it’s unethical for them to do so. Part of the problem is that some universities take advantage of the fact that such “teachers” want to solicit business, setting the pay at a low level. So never assume that someone who is teaching a financial-planning course at a local college is ethical, competent, or looking out for your best interests.</p>\r\n<p class=\"child-para\">Ethical instructors who are there to teach do not solicit clients. In fact, they may actively discourage students from hiring them. Smart universities pay their instructors well and weed out those who are more interested in building their client base than they are in teaching.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><strong>“Free” seminars:</strong> This is a case of “you get what you pay for.” Because you don’t pay a fee to attend “free seminars” and the “teachers” don’t get paid either, these events tend to be clear-cut sales pitches. The “instructor” may share some information, but smart seminar leaders know that the goal of a successful seminar is to establish themselves as experts and to whet the prospects’ appetites.</p>\r\n<p class=\"child-para Warning\">Be wary of seminars targeted at select groups, such as special seminars for people who have received retirement-plan distributions or seminars touting “Financial Planning for Women.” Financial planning is not specific to gender, ethnicity, or marital status.</p>\r\n<p class=\"child-para\">Don’t assume that the financial planner giving a presentation at your employer’s office is the right planner for you, either. You may be surprised at how little some corporate benefits departments investigate the people they let in. In most cases, planners are accepted simply because they don’t charge.</p>\r\n</li>\r\n</ul>\r\n<h5>Copyright © 2016 Eric Tyson. All rights reserved</h5>","blurb":"","authors":[{"authorId":8975,"name":"Eric Tyson","slug":"eric-tyson","description":" <p><b>Eric Tyson, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. 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years","lifeExpectancySetFrom":"2022-08-16T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":139212},{"headers":{"creationTime":"2016-03-26T07:31:05+00:00","modifiedTime":"2022-08-16T18:08:14+00:00","timestamp":"2022-09-14T18:19:55+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"General Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"},"slug":"general-personal-finance","categoryId":34311}],"title":"2 Ways to Get Answers to Your Medicare Questions after 50","strippedTitle":"2 ways to get answers to your medicare questions after 50","slug":"2-ways-to-get-answers-to-your-medicare-questions-after-50","canonicalUrl":"","seo":{"metaDescription":"Learn how to find information about Medicare, including through the federal Medicare office and website, or via state offices on aging.","noIndex":0,"noFollow":0},"content":"<!-- [if gte mso 9]><xml> <o:OfficeDocumentSettings> <o:AllowPNG /> </o:OfficeDocumentSettings> </xml><![endif]-->\r\n\r\n<!-- [if gte mso 9]><xml> <w:WordDocument> <w:View>Normal</w:View> <w:Zoom>0</w:Zoom> <w:TrackMoves /> <w:TrackFormatting /> <w:PunctuationKerning /> <w:ValidateAgainstSchemas /> <w:SaveIfXMLInvalid>false</w:SaveIfXMLInvalid> <w:IgnoreMixedContent>false</w:IgnoreMixedContent> <w:AlwaysShowPlaceholderText>false</w:AlwaysShowPlaceholderText> <w:DoNotPromoteQF /> <w:LidThemeOther>EN-US</w:LidThemeOther> <w:LidThemeAsian>JA</w:LidThemeAsian> <w:LidThemeComplexScript>X-NONE</w:LidThemeComplexScript> <w:Compatibility> <w:BreakWrappedTables /> <w:SnapToGridInCell /> <w:WrapTextWithPunct /> 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/></style><![endif]-->\r\n\r\nWhen you're financial planning after 50, you may be faced with lots of Medicare questions. Medicare is administered and enforced by the federal Centers for Medicare and Medicaid. Chances are you have questions about Medicare, and finding answers can be a challenge, especially if you don’t know where to look. Here is some advice:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\"><strong>Through the Medicare office: </strong>You can ask questions and order publications by calling 800-MEDICARE (800-633-4227). You can also find a wealth of information at the website <a href=\"https://www.medicare.gov/\" target=\"_blank\" rel=\"noopener\">medicare.gov</a>.</p>\r\n<p class=\"child-para Tip\">Two of the best sources of information are the publications <a href=\"https://www.medicare.gov/medicare-and-you\" target=\"_blank\" rel=\"noopener\"><em>Medicare and You</em></a> and <a href=\"https://www.medicare.gov/publications/search?field_publication_category_value=All&field_publication_language_value=English\" target=\"_blank\" rel=\"noopener\"><em>Guide to Health Insurance for People with Medicare</em></a>. You can download these, and other publications, free from the site; you can also order free copies by calling the toll-free number.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><strong>Through your state Office of Aging (or its equivalent): </strong>States also offer help and information about Medicare. Each state has an Office on Aging, which offers free counseling, seminars, and literature. Most state agencies regulating health insurers publish a booklet listing the premiums charged on policies by different insurers in the state and offer this information on their websites. A state’s corporation commission or insurance department usually is the appropriate agency to contact. The agencies also should have information on the financial condition of insurers selling policies in the state.</p>\r\n</li>\r\n</ul>\r\n<h5>Copyright © 2016 Eric Tyson and Bob Carlson. 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Name=\"Book Title\" /> <w:LsdException Locked=\"false\" Priority=\"37\" Name=\"Bibliography\" /> <w:LsdException Locked=\"false\" Priority=\"39\" QFormat=\"true\" Name=\"TOC Heading\" /> </w:LatentStyles> </xml><![endif]--><!-- [if gte mso 10]>\r\n\r\n<style>\r\n /* Style Definitions */<br /> table.MsoNormalTable<br />\t{mso-style-name:\"Table Normal\";<br />\tmso-tstyle-rowband-size:0;<br />\tmso-tstyle-colband-size:0;<br />\tmso-style-noshow:yes;<br />\tmso-style-priority:99;<br />\tmso-style-parent:\";<br />\tmso-padding-alt:0in 5.4pt 0in 5.4pt;<br />\tmso-para-margin:0in;<br />\tmso-para-margin-bottom:.0001pt;<br />\tmso-pagination:widow-orphan;<br />\tfont-size:10.0pt;<br />\tfont-family:\"CG Times (W1)\",\"serif\";}<br /></style><![endif]-->\r\n\r\nWhen you're financial planning after 50, you may be faced with lots of Medicare questions. Medicare is administered and enforced by the federal Centers for Medicare and Medicaid. Chances are you have questions about Medicare, and finding answers can be a challenge, especially if you don’t know where to look. Here is some advice:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\"><strong>Through the Medicare office: </strong>You can ask questions and order publications by calling 800-MEDICARE (800-633-4227). You can also find a wealth of information at the website <a href=\"https://www.medicare.gov/\" target=\"_blank\" rel=\"noopener\">medicare.gov</a>.</p>\r\n<p class=\"child-para Tip\">Two of the best sources of information are the publications <a href=\"https://www.medicare.gov/medicare-and-you\" target=\"_blank\" rel=\"noopener\"><em>Medicare and You</em></a> and <a href=\"https://www.medicare.gov/publications/search?field_publication_category_value=All&field_publication_language_value=English\" target=\"_blank\" rel=\"noopener\"><em>Guide to Health Insurance for People with Medicare</em></a>. You can download these, and other publications, free from the site; you can also order free copies by calling the toll-free number.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\"><strong>Through your state Office of Aging (or its equivalent): </strong>States also offer help and information about Medicare. Each state has an Office on Aging, which offers free counseling, seminars, and literature. Most state agencies regulating health insurers publish a booklet listing the premiums charged on policies by different insurers in the state and offer this information on their websites. A state’s corporation commission or insurance department usually is the appropriate agency to contact. The agencies also should have information on the financial condition of insurers selling policies in the state.</p>\r\n</li>\r\n</ul>\r\n<h5>Copyright © 2016 Eric Tyson and Bob Carlson. All rights reserved</h5>","blurb":"","authors":[{"authorId":8975,"name":"Eric Tyson","slug":"eric-tyson","description":" <p><b>Eric Tyson, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. He is the co-author of <i>Personal Finance For Canadians For Dummies</i>.</p>","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/8975"}},{"authorId":9085,"name":"Bob Carlson","slug":"bob-carlson","description":"","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/9085"}}],"primaryCategoryTaxonomy":{"categoryId":34311,"title":"General Personal Finance","slug":"general-personal-finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[{"articleId":207465,"title":"Personal Finance After 50 For Dummies Cheat Sheet","slug":"personal-finance-after-50-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/207465"}},{"articleId":141610,"title":"2 Key Benefits of a Long-Term Care Policy on Finances after 50","slug":"2-key-benefits-of-a-long-term-care-policy-on-finances-after-50","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/141610"}},{"articleId":141601,"title":"Filing Gift Tax Returns after 50","slug":"filing-gift-tax-returns-after-50","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/141601"}},{"articleId":141602,"title":"4 Things to Know about Long-Term Care and Finances after 50","slug":"4-things-to-know-about-long-term-care-and-finances-after-50","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/141602"}}],"fromCategory":[{"articleId":288537,"title":"Financial Security For Dummies Cheat Sheet","slug":"financial-security-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/288537"}},{"articleId":249522,"title":"Personal Finance in Your 20s and 30s: Online Resources to Find Service Providers","slug":"personal-finance-20s-30s-online-resources-find-service-providers","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/249522"}},{"articleId":240164,"title":"How to Write a Check","slug":"how-to-write-a-check","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/240164"}},{"articleId":208905,"title":"Personal Finance For Canadians For Dummies Cheat Sheet","slug":"personal-finance-for-canadians-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208905"}},{"articleId":208797,"title":"Personal Finance in Your 20s and 30s For Dummies Cheat Sheet","slug":"personal-finance-in-your-20s-30s-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208797"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282456,"slug":"personal-finance-after-50-for-dummies","isbn":"9781119724186","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"amazon":{"default":"https://www.amazon.com/gp/product/111972418X/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/111972418X/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/111972418X-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/111972418X/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/111972418X/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/personal-finance-after-50-for-dummies-3e-cover-9781119724186-203x255.jpg","width":203,"height":255},"title":"Personal Finance After 50 For Dummies","testBankPinActivationLink":"","bookOutOfPrint":true,"authorsInfo":"<p><b><b data-author-id=\"8975\">Eric Tyson</b>, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. He is the co-author of <i>Personal Finance For Canadians For Dummies</i>.</p> <p><b>Eric Tyson</b> is a recognized personal finance counselor, writer, and lecturer. Tyson has been featured on and quoted in hundreds of publications and media outlets.</p> <p><b>Bob Carlson</b> is Chairman of the Board of Trustees of the Fairfax Country Employees&#8217; Retirement System.</p>","authors":[{"authorId":8975,"name":"Eric Tyson","slug":"eric-tyson","description":" <p><b>Eric Tyson, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. He is the co-author of <i>Personal Finance For Canadians For Dummies</i>.</p>","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/8975"}},{"authorId":34463,"name":"Robert C. Carlson","slug":"robert-c-carlson","description":" <p><b>Eric Tyson</b> is a recognized personal finance counselor, writer, and lecturer. Tyson has been featured on and quoted in hundreds of publications and media outlets.</p> <p><b>Bob Carlson</b> is Chairman of the Board of Trustees of the Fairfax Country Employees&#8217; Retirement System.</p> ","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/34463"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;general-personal-finance&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119724186&quot;]}]\" id=\"du-slot-63221b4b5e826\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;general-personal-finance&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119724186&quot;]}]\" id=\"du-slot-63221b4b5f11a\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Solve","lifeExpectancy":"Two years","lifeExpectancySetFrom":"2022-08-16T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":141609},{"headers":{"creationTime":"2018-02-02T04:07:58+00:00","modifiedTime":"2022-05-17T15:11:21+00:00","timestamp":"2022-09-14T18:19:43+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"General Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"},"slug":"general-personal-finance","categoryId":34311}],"title":"Personal Finance in Your 20s and 30s: Online Resources to Find Service Providers","strippedTitle":"personal finance in your 20s and 30s: online resources to find service providers","slug":"personal-finance-20s-30s-online-resources-find-service-providers","canonicalUrl":"","seo":{"metaDescription":"Finding quality, affordable professional service providers can be a challenge. As can finding the myriad other service providers you may seek, such as an auto r","noIndex":0,"noFollow":0},"content":"Finding quality, affordable professional service providers can be a challenge. As can finding the myriad other service providers you may seek, such as an auto repair shop or a plumber. All of us have the battle scars from the school of hard knocks and making bad hiring decisions.\r\n\r\nGetting referrals from folks you know often doesn't pan out — and for good reason. Just because your friend or neighbor has had good experiences with a given contractor doesn't mean you will or that you value the same things in a provider.\r\n<p class=\"article-tips tip\">The Internet has long held the promise of being an information source and exchange for consumers interested in hearing the straight scoop about service providers, but message boards rarely have a critical mass of comments about locally focused companies. Firms such as Kudzu, which is owned by media conglomerate Cox Enterprises, provides consumers free reviews on companies, but here's a case where you may well get less than you paid for. Anyone can complete a simple registration by providing an email address, name, and zip code, and many service providers have just one or a few reviews. Due to the anonymity of the reviews and lack of screening, company owners, employees, and friends can easily post puffed-up reviews while competitors can easily criticize their peers.</p>\r\nAfter reviewing numerous websites that purport to help consumers separate the best service providers from the rest, the sections that follow highlight those that I've found are doing the best job.\r\n<p class=\"article-tips warning\">On some ratings sites, companies are solicited to buy enhanced listings, and this disguised advertising may make them more appealing to prospective customers. For example, Kudzu's \"Enhanced Profile\" service promises the paying company \"Higher placement in search\" as well as the ability to add photos and video and a marketing description.</p>\r\n\r\n<h2 id=\"tab1\" >Angie's List</h2>\r\nAngie's List subscribers get access to data and customer feedback on a wide range of service providers in their local market area. The service boasts more than 3 million members in hundreds of markets around the United States.\r\n\r\nAngie's List, which began operations in 1995, uses proprietary technology to process reports, and one of a team of thirty people employed by Angie's List reads every report before it gets posted. Reports praising your own business or dissing a competitor's are ferreted out and removed. As happens on eBay, customers and businesses can respond to one another. When Angie's List receives a report on an unregistered company, that company is allowed to register for free. By registering, the company can then respond by posting to each customer's report. Consumers may not report anonymously, but their identity is only disclosed to the companies they rate. Angie's List also offers conflict resolution when a customer and company are at odds over their interaction.\r\n\r\nAngie's List says that they have a \"zero-tolerance policy\" about companies hassling a customer over the posting of negative comments. The report is posted live for all members to see, which obviously offers an incentive for the service company to resolve the issue quickly. If the service company resolves the complaint to the customer's satisfaction, the dispute is considered \"resolved\" and the negative report is removed from the service company's record. That's the leverage Angie's List uses to get complaints resolved. The member can then choose to file a new report, but if they do, they must grade the company at a B or above. However, the member is not obligated to file another report.\r\n\r\nCo-founder Angie Hicks never really considered the advertising-only model so often used online when she started her company. \"We offer a premium service with high-quality information. Consumers are willing to pay for good information. Consumers are looking for trusted filters,\" says Hicks.\r\n\r\nAngie's List has not totally forsaken ads. The company offers coupons from highly rated service companies. Companies pay to run coupons and must have an A or B rating. Like a school report card, grades range from A (best) to F (worst). If a company has any unresolved complaints, it can't advertise, regardless of its overall grade.\r\n\r\n(<strong><em>Note:</em></strong> At the time that this book goes to press in late 2017, Angie's List may merge into the parent company that owns HomeAdvisor.)\r\n<h2 id=\"tab2\" >HomeAdvisor</h2>\r\nHomeAdvisor (formerly Service Magic), another large online provider of service-company referrals, doesn't rely on member subscriptions. With HomeAdvisor, you register for free and provide personal information, including your home address and details of what you're looking for, and several companies, which have paid HomeAdvisor an annual membership (advertising) fee of about $300, will contact you offering their services. Home-Advisor argues that such fees weed out people who may be operating as a sideline or on a short-term basis and lead to higher-quality, committed contractors being listed on their site.\r\n\r\nHomeAdvisor, which is focused on home improvement, repair, and maintenance firms, also has a ratings and review feature where customers can rate the company. To prevent bogus reviews, HomeAdvisor only allows consumers who have found contractors through their service to rate and evaluate those contractors.\r\n\r\nHere's how their service works: Suppose you're seeking a contractor to build you a wooden deck. After completing background information on the HomeAdvisor site about your planned project, your information would be sent to three contractors in your area who would contact you, arrange a meeting to discuss your project, and give you a proposal (with some contractors, you can actually schedule these appointments through the HomeAdvisor site).\r\n\r\nUnlike other services, including Angie's List, HomeAdvisor screens all contractors, who must meet numerous criteria including being properly licensed within their state, carrying general liability insurance coverage, and passing a criminal and financial background check (which uncovers negatives such as liens, bankruptcies, and judgments), among other items.\r\n\r\nIn addition to paying HomeAdvisor an annual membership fee of $300, contractors pay HomeAdvisor a lead fee, depending upon the type of work and ranging from $10 to $50, for each lead they are sent. HomeAdvisor's model allows contractors to target clients by zip code and task, which allows them to be more focused in their prospecting and spend less time driving long distances.\r\n<h2 id=\"tab3\" >Other resources</h2>\r\nAnother resource worth checking out is <a href=\"http://www.checkbook.org/\">Consumers Checkbook</a>, which compiles service-provider data in the following metro areas: Boston, Chicago, Delaware Valley (Philadelphia area), Puget Sound (Seattle area), San Francisco/Oakland/San Jose, Twin Cities, and Washington, D.C. Checkbook is a nonprofit founded in 1974. Like Consumer Reports, it doesn't accept any advertising or money from companies it reviews. In addition to its website, it publishes <em>Consumer's Checkbook</em> magazine in seven local versions for each of the metro areas.\r\n<p class=\"article-tips tip\">Another option for checking out service providers is to access the Better Business Bureau (BBB) website in your area, which you can locate through their national site. BBB information, which is available without a fee to you the consumer, may tell you if the company you're considering has any recent black marks but will hardly give you a thorough review of many customers' experiences like those you will find on sites like HomeAdvisor or Angie's List. BBBs are non-profits that collect fees from member companies. Thus, they have similar conflicts of interest that Angie's List and Home Advisor have in being \"pro\" business.</p>","description":"Finding quality, affordable professional service providers can be a challenge. As can finding the myriad other service providers you may seek, such as an auto repair shop or a plumber. All of us have the battle scars from the school of hard knocks and making bad hiring decisions.\r\n\r\nGetting referrals from folks you know often doesn't pan out — and for good reason. Just because your friend or neighbor has had good experiences with a given contractor doesn't mean you will or that you value the same things in a provider.\r\n<p class=\"article-tips tip\">The Internet has long held the promise of being an information source and exchange for consumers interested in hearing the straight scoop about service providers, but message boards rarely have a critical mass of comments about locally focused companies. Firms such as Kudzu, which is owned by media conglomerate Cox Enterprises, provides consumers free reviews on companies, but here's a case where you may well get less than you paid for. Anyone can complete a simple registration by providing an email address, name, and zip code, and many service providers have just one or a few reviews. Due to the anonymity of the reviews and lack of screening, company owners, employees, and friends can easily post puffed-up reviews while competitors can easily criticize their peers.</p>\r\nAfter reviewing numerous websites that purport to help consumers separate the best service providers from the rest, the sections that follow highlight those that I've found are doing the best job.\r\n<p class=\"article-tips warning\">On some ratings sites, companies are solicited to buy enhanced listings, and this disguised advertising may make them more appealing to prospective customers. For example, Kudzu's \"Enhanced Profile\" service promises the paying company \"Higher placement in search\" as well as the ability to add photos and video and a marketing description.</p>\r\n\r\n<h2 id=\"tab1\" >Angie's List</h2>\r\nAngie's List subscribers get access to data and customer feedback on a wide range of service providers in their local market area. The service boasts more than 3 million members in hundreds of markets around the United States.\r\n\r\nAngie's List, which began operations in 1995, uses proprietary technology to process reports, and one of a team of thirty people employed by Angie's List reads every report before it gets posted. Reports praising your own business or dissing a competitor's are ferreted out and removed. As happens on eBay, customers and businesses can respond to one another. When Angie's List receives a report on an unregistered company, that company is allowed to register for free. By registering, the company can then respond by posting to each customer's report. Consumers may not report anonymously, but their identity is only disclosed to the companies they rate. Angie's List also offers conflict resolution when a customer and company are at odds over their interaction.\r\n\r\nAngie's List says that they have a \"zero-tolerance policy\" about companies hassling a customer over the posting of negative comments. The report is posted live for all members to see, which obviously offers an incentive for the service company to resolve the issue quickly. If the service company resolves the complaint to the customer's satisfaction, the dispute is considered \"resolved\" and the negative report is removed from the service company's record. That's the leverage Angie's List uses to get complaints resolved. The member can then choose to file a new report, but if they do, they must grade the company at a B or above. However, the member is not obligated to file another report.\r\n\r\nCo-founder Angie Hicks never really considered the advertising-only model so often used online when she started her company. \"We offer a premium service with high-quality information. Consumers are willing to pay for good information. Consumers are looking for trusted filters,\" says Hicks.\r\n\r\nAngie's List has not totally forsaken ads. The company offers coupons from highly rated service companies. Companies pay to run coupons and must have an A or B rating. Like a school report card, grades range from A (best) to F (worst). If a company has any unresolved complaints, it can't advertise, regardless of its overall grade.\r\n\r\n(<strong><em>Note:</em></strong> At the time that this book goes to press in late 2017, Angie's List may merge into the parent company that owns HomeAdvisor.)\r\n<h2 id=\"tab2\" >HomeAdvisor</h2>\r\nHomeAdvisor (formerly Service Magic), another large online provider of service-company referrals, doesn't rely on member subscriptions. With HomeAdvisor, you register for free and provide personal information, including your home address and details of what you're looking for, and several companies, which have paid HomeAdvisor an annual membership (advertising) fee of about $300, will contact you offering their services. Home-Advisor argues that such fees weed out people who may be operating as a sideline or on a short-term basis and lead to higher-quality, committed contractors being listed on their site.\r\n\r\nHomeAdvisor, which is focused on home improvement, repair, and maintenance firms, also has a ratings and review feature where customers can rate the company. To prevent bogus reviews, HomeAdvisor only allows consumers who have found contractors through their service to rate and evaluate those contractors.\r\n\r\nHere's how their service works: Suppose you're seeking a contractor to build you a wooden deck. After completing background information on the HomeAdvisor site about your planned project, your information would be sent to three contractors in your area who would contact you, arrange a meeting to discuss your project, and give you a proposal (with some contractors, you can actually schedule these appointments through the HomeAdvisor site).\r\n\r\nUnlike other services, including Angie's List, HomeAdvisor screens all contractors, who must meet numerous criteria including being properly licensed within their state, carrying general liability insurance coverage, and passing a criminal and financial background check (which uncovers negatives such as liens, bankruptcies, and judgments), among other items.\r\n\r\nIn addition to paying HomeAdvisor an annual membership fee of $300, contractors pay HomeAdvisor a lead fee, depending upon the type of work and ranging from $10 to $50, for each lead they are sent. HomeAdvisor's model allows contractors to target clients by zip code and task, which allows them to be more focused in their prospecting and spend less time driving long distances.\r\n<h2 id=\"tab3\" >Other resources</h2>\r\nAnother resource worth checking out is <a href=\"http://www.checkbook.org/\">Consumers Checkbook</a>, which compiles service-provider data in the following metro areas: Boston, Chicago, Delaware Valley (Philadelphia area), Puget Sound (Seattle area), San Francisco/Oakland/San Jose, Twin Cities, and Washington, D.C. Checkbook is a nonprofit founded in 1974. Like Consumer Reports, it doesn't accept any advertising or money from companies it reviews. In addition to its website, it publishes <em>Consumer's Checkbook</em> magazine in seven local versions for each of the metro areas.\r\n<p class=\"article-tips tip\">Another option for checking out service providers is to access the Better Business Bureau (BBB) website in your area, which you can locate through their national site. BBB information, which is available without a fee to you the consumer, may tell you if the company you're considering has any recent black marks but will hardly give you a thorough review of many customers' experiences like those you will find on sites like HomeAdvisor or Angie's List. BBBs are non-profits that collect fees from member companies. Thus, they have similar conflicts of interest that Angie's List and Home Advisor have in being \"pro\" business.</p>","blurb":"","authors":[{"authorId":8975,"name":"Eric Tyson","slug":"eric-tyson","description":" <p><b>Eric Tyson, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. He is the co-author of <i>Personal Finance For Canadians For Dummies</i>.</p>","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/8975"}}],"primaryCategoryTaxonomy":{"categoryId":34311,"title":"General Personal Finance","slug":"general-personal-finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[{"label":"Angie's List","target":"#tab1"},{"label":"HomeAdvisor","target":"#tab2"},{"label":"Other resources","target":"#tab3"}],"relatedArticles":{"fromBook":[{"articleId":249652,"title":"10 Things to Know About Apps in Your 20s and 30s","slug":"10-things-know-apps-20s-30s","categoryList":["technology","computers","macs","general-macs"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/249652"}},{"articleId":249649,"title":"Getting Your Career Going in Your 20s and 30s","slug":"getting-career-going-20s-30s","categoryList":["technology","computers","macs","general-macs"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/249649"}},{"articleId":249646,"title":"Seek Value for Your Education Dollars","slug":"seek-value-education-dollars","categoryList":["technology","computers","macs","general-macs"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/249646"}},{"articleId":249643,"title":"Exploring Entrepreneurial Options in Your 20s and 30s","slug":"exploring-entrepreneurial-options-20s-30s","categoryList":["technology","computers","macs","general-macs"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/249643"}},{"articleId":249640,"title":"Changing Jobs or Careers in Your 20s or 30s","slug":"changing-jobs-careers-20s-30s","categoryList":["technology","computers","macs","general-macs"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/249640"}}],"fromCategory":[{"articleId":288537,"title":"Financial Security For Dummies Cheat Sheet","slug":"financial-security-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/288537"}},{"articleId":240164,"title":"How to Write a Check","slug":"how-to-write-a-check","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/240164"}},{"articleId":208905,"title":"Personal Finance For Canadians For Dummies Cheat Sheet","slug":"personal-finance-for-canadians-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208905"}},{"articleId":208797,"title":"Personal Finance in Your 20s and 30s For Dummies Cheat Sheet","slug":"personal-finance-in-your-20s-30s-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208797"}},{"articleId":208765,"title":"Managing Your Money All-In-One For Dummies Cheat Sheet","slug":"managing-your-money-all-in-one-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208765"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282459,"slug":"personal-finance-in-your-20s-30s-for-dummies","isbn":"9781119805434","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"amazon":{"default":"https://www.amazon.com/gp/product/1119805430/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/1119805430/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/1119805430-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/1119805430/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/1119805430/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/personal-finance-in-your-20s-30s-for-dummies-3e-cover-9781119805434-203x255.jpg","width":203,"height":255},"title":"Personal Finance in Your 20s & 30s For Dummies","testBankPinActivationLink":"","bookOutOfPrint":true,"authorsInfo":"<p><b><b data-author-id=\"8975\">Eric Tyson</b>, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. He is the co-author of <i>Personal Finance For Canadians For Dummies</i>.</p>","authors":[{"authorId":8975,"name":"Eric Tyson","slug":"eric-tyson","description":" <p><b>Eric Tyson, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. He is the co-author of <i>Personal Finance For Canadians For Dummies</i>.</p>","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/8975"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;general-personal-finance&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119805434&quot;]}]\" id=\"du-slot-63221b3f775b4\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;general-personal-finance&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119805434&quot;]}]\" id=\"du-slot-63221b3f77e0f\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Explore","lifeExpectancy":"Two years","lifeExpectancySetFrom":"2022-05-17T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":249522},{"headers":{"creationTime":"2016-03-27T16:54:51+00:00","modifiedTime":"2022-05-13T15:51:40+00:00","timestamp":"2022-09-14T18:19:43+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"General Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"},"slug":"general-personal-finance","categoryId":34311}],"title":"Managing Your Money All-In-One For Dummies Cheat Sheet","strippedTitle":"managing your money all-in-one for dummies cheat sheet","slug":"managing-your-money-all-in-one-for-dummies-cheat-sheet","canonicalUrl":"","seo":{"metaDescription":"This Cheat Sheet provides a quick summary of key factors for managing your money, investing, and saving for retirement.","noIndex":0,"noFollow":0},"content":"Managing your money is crucial at all stages of your adult life — whether you’re interviewing for your first job, in the thick of your prime earning years, or enjoying your retirement. Some crucial aspects of managing your finances include taking stock of your finances, using a budget, building your savings, and investing your money.","description":"Managing your money is crucial at all stages of your adult life — whether you’re interviewing for your first job, in the thick of your prime earning years, or enjoying your retirement. Some crucial aspects of managing your finances include taking stock of your finances, using a budget, building your savings, and investing your money.","blurb":"","authors":[{"authorId":8947,"name":"The Experts at Dummies","slug":"the-experts-at-dummies","description":"The Experts at Dummies are smart, friendly people who make learning easy by taking a not-so-serious approach to serious stuff.","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/8947"}}],"primaryCategoryTaxonomy":{"categoryId":34311,"title":"General Personal Finance","slug":"general-personal-finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[],"fromCategory":[{"articleId":288537,"title":"Financial Security For Dummies Cheat Sheet","slug":"financial-security-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/288537"}},{"articleId":249522,"title":"Personal Finance in Your 20s and 30s: Online Resources to Find Service Providers","slug":"personal-finance-20s-30s-online-resources-find-service-providers","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/249522"}},{"articleId":240164,"title":"How to Write a Check","slug":"how-to-write-a-check","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/240164"}},{"articleId":208905,"title":"Personal Finance For Canadians For Dummies Cheat Sheet","slug":"personal-finance-for-canadians-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208905"}},{"articleId":208797,"title":"Personal Finance in Your 20s and 30s For Dummies Cheat Sheet","slug":"personal-finance-in-your-20s-30s-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208797"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":292106,"slug":"managing-your-money-all-in-one-for-dummies-2nd-edition","isbn":"9781119883357","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"amazon":{"default":"https://www.amazon.com/gp/product/1119883350/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/1119883350/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/1119883350-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/1119883350/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/1119883350/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/9781119883357-203x255.jpg","width":203,"height":255},"title":"Managing Your Money All-in-One For Dummies","testBankPinActivationLink":"","bookOutOfPrint":true,"authorsInfo":"","authors":[{"authorId":34784,"name":"","slug":"","description":" <p><b> Joseph A. Allen, PhD</b> is a professor of industrial and organizational (I/O) psychology at the University of Utah. His articles have appeared in <i>Human Relations, Journal of Business Psychology</i>, and more.</p> <p><b>Karin M. Reed</b> is CEO of Speaker Dynamics, a corporate communications training firm. She is an Emmy award-winning broadcast journalist. ","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/34784"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;general-personal-finance&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119883357&quot;]}]\" id=\"du-slot-63221b3f6179f\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;general-personal-finance&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119883357&quot;]}]\" id=\"du-slot-63221b3f62088\"></div></div>"},"articleType":{"articleType":"Cheat Sheet","articleList":[{"articleId":189809,"title":"How to Save for Retirement","slug":"how-to-save-for-retirement","categoryList":[],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/189809"}},{"articleId":189803,"title":"Keys to Investing Your Money","slug":"keys-to-investing-your-money","categoryList":[],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/189803"}},{"articleId":189802,"title":"Managing Your Money: Tips for Buying Health Insurance","slug":"managing-your-money-tips-for-buying-health-insurance","categoryList":[],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/189802"}},{"articleId":189791,"title":"Managing Your Money: Which Bills to Pay First","slug":"managing-your-money-which-bills-to-pay-first","categoryList":[],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/189791"}},{"articleId":189790,"title":"Things Debt Collectors Can't Do","slug":"things-debt-collectors-cant-do","categoryList":[],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/189790"}}],"content":[{"title":"Assessing your finances and managing money with a budget","thumb":null,"image":null,"content":"<p>You need a clear idea of the current state of your finances to figure out the best way to deal with your debts. Start with the following tips:</p>\n<ul>\n<li>Compare your monthly spending to your monthly income. By doing this comparison, you may quickly realize that you’re using credit to finance a lifestyle you can’t afford. If that’s the case, you <em>must</em> reduce your spending to meet your financial obligations, and you may need to do a lot more than that, depending on the seriousness of your financial situation.</li>\n<li>Order copies of your credit histories from the three national credit-reporting agencies: Equifax, Experian, and TransUnion. Your credit history is a warts-and-all portrait of how you manage your money — to whom you owe it, how much you owe, whether you pay your debts on time, whether you are over your credit limits, and so on.</li>\n<li>Find out your FICO score. Your FICO score is derived from your credit history information. These days, many creditors make decisions about you based on this score instead of on the actual information in your credit history.</li>\n</ul>\n<p>After you assess the seriousness of your financial situation, you need to prepare a plan for handling your debt, including keeping up with your creditor payments — or at least keeping up with payments to your most important creditors.</p>\n<p>One of the first things you should do is prepare a household budget. Whether your annual household income is $20,000 or $100,000 (or more), living on a budget is probably the single most important thing you can do to get out of debt and to avoid debt problems down the road. A <em>budget</em> is nothing more than a written plan for how you intend to spend your money each month. A budget helps you</p>\n<p>Make sure that your limited dollars go toward paying your most important debts and expenses first.</p>\n<ul>\n<li>Avoid spending more than you make.</li>\n<li>Pay off your debts as quickly as you can.</li>\n<li>Build up your savings.</li>\n<li>Achieve your financial goals.</li>\n</ul>\n<p>If you don’t owe a ton of money to your creditors, living on a budget may be all it takes for you to whittle down your debts and hold on to your assets.</p>\n"},{"title":"Adding money to your nest egg","thumb":null,"image":null,"content":"<p>Becoming a saver is a big part of managing your money, and you have lots of tools at your disposal. Here are a few proven ways to build your nest egg:</p>\n<ul>\n<li>Pay off your credit cards as much as possible. You’re paying them way more than your investments will pay you.</li>\n<li>Save in a tax-deferred retirement account as soon as you can in order to get more bang for your investment buck.</li>\n<li>Start by saving just 1 percent of your pay if that’s all you can afford.</li>\n<li>Save for retirement even if you think it’s too late. It’s never too late.</li>\n<li>Save at least the amount your employer matches; otherwise, you’re throwing money away.</li>\n<li>Aim to put away 10 percent of your income for retirement each year; increase your savings rate each time you get a raise.</li>\n<li>Aim to build a nest egg that’s at least 10 times your annual pay when you retire.</li>\n<li>Take any company stock your employer gives you, but don’t invest your own money in it.</li>\n<li>Roll your retirement money directly into a new tax-deferred account when you change jobs. Don’t cash it out.</li>\n<li>Don’t take a hardship withdrawal or loan unless absolutely necessary.</li>\n</ul>\n"},{"title":"Investing as part of managing your money","thumb":null,"image":null,"content":"<p>Think you can’t become a savvy investor? Think again! Check out the following tips as you manage your money in investments:</p>\n<ul>\n<li>Come up with a plan. Know what you’re doing and why: Don’t invest blindly, hoping that it’ll all come out well in the end.</li>\n<li>Establish realistic expectations, and then pick funds that have the potential to meet your goals. Learn from others, but build the portfolio that’s right for you.</li>\n<li>Keep in mind that higher risk doesn’t guarantee a higher return.</li>\n<li>Avoid funds that have dramatic up-and-down swings, particularly if you’re nearing retirement.</li>\n<li>Invest in a mix of asset types because no one knows which investments will be hot at any point in time.</li>\n<li>Find a professional to help you choose the best investments.</li>\n</ul>\n"}],"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"Two years","lifeExpectancySetFrom":"2022-05-13T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":208765},{"headers":{"creationTime":"2016-03-26T18:24:59+00:00","modifiedTime":"2022-05-12T21:13:45+00:00","timestamp":"2022-09-14T18:19:43+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"General Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"},"slug":"general-personal-finance","categoryId":34311}],"title":"How to Ease Financial Uncertainty","strippedTitle":"how to ease financial uncertainty","slug":"how-to-ease-financial-uncertainty","canonicalUrl":"","seo":{"metaDescription":"Life can throw you some financial curveballs, but you don't have to be at the mercy of financial markets even if you're not able to control them. To protect aga","noIndex":0,"noFollow":0},"content":"Life can throw you some financial curveballs, but you don't have to be at the mercy of financial markets even if you're not able to control them. To protect against financial uncertainties, use the following strategies:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\">Plan for life's certainties and prepare for life's uncertainties.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Invest in and protect your ability to earn money; it's likely your most valuable asset.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Adequately insure yourself, your stuff, and your income stream.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Minimize or eliminate debt, and focus on building a great credit score.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Maintain an emergency reserve fund.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Invest for your goals, time horizon, and risk tolerance.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Diversify your portfolio across a broad mix of asset classes.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Monitor and rebalance your portfolio to maintain your target asset allocation.</p>\r\n</li>\r\n</ul>","description":"Life can throw you some financial curveballs, but you don't have to be at the mercy of financial markets even if you're not able to control them. To protect against financial uncertainties, use the following strategies:\r\n<ul class=\"level-one\">\r\n \t<li>\r\n<p class=\"first-para\">Plan for life's certainties and prepare for life's uncertainties.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Invest in and protect your ability to earn money; it's likely your most valuable asset.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Adequately insure yourself, your stuff, and your income stream.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Minimize or eliminate debt, and focus on building a great credit score.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Maintain an emergency reserve fund.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Invest for your goals, time horizon, and risk tolerance.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Diversify your portfolio across a broad mix of asset classes.</p>\r\n</li>\r\n \t<li>\r\n<p class=\"first-para\">Monitor and rebalance your portfolio to maintain your target asset allocation.</p>\r\n</li>\r\n</ul>","blurb":"","authors":[],"primaryCategoryTaxonomy":{"categoryId":34311,"title":"General Personal Finance","slug":"general-personal-finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[],"fromCategory":[{"articleId":288537,"title":"Financial Security For Dummies Cheat Sheet","slug":"financial-security-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/288537"}},{"articleId":249522,"title":"Personal Finance in Your 20s and 30s: Online Resources to Find Service Providers","slug":"personal-finance-20s-30s-online-resources-find-service-providers","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/249522"}},{"articleId":240164,"title":"How to Write a Check","slug":"how-to-write-a-check","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/240164"}},{"articleId":208905,"title":"Personal Finance For Canadians For Dummies Cheat Sheet","slug":"personal-finance-for-canadians-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208905"}},{"articleId":208797,"title":"Personal Finance in Your 20s and 30s For Dummies Cheat 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class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;general-personal-finance&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[null]}]\" id=\"du-slot-63221b3f3d2bc\"></div></div>"},"articleType":{"articleType":"Articles","articleList":null,"content":null,"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Solve","lifeExpectancy":"One year","lifeExpectancySetFrom":"2022-05-12T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":178764},{"headers":{"creationTime":"2016-03-27T16:47:00+00:00","modifiedTime":"2022-04-05T16:45:55+00:00","timestamp":"2022-09-14T18:19:34+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"General Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"},"slug":"general-personal-finance","categoryId":34311}],"title":"Personal Finance After 50 For Dummies Cheat Sheet","strippedTitle":"personal finance after 50 for dummies cheat sheet","slug":"personal-finance-after-50-for-dummies-cheat-sheet","canonicalUrl":"","seo":{"metaDescription":"Make the most of your finances by determining the appropriate age to retire, becoming familiar with Medicare, and understanding your pension.","noIndex":0,"noFollow":0},"content":"You work hard for your money, and you should get to use your savings in your later years. In order to enjoy an enjoyable and stress-free retirement, you need to make the most of your finances and retirement planning. You can get on the right track by determining the appropriate age to retire, becoming familiar with Medicare, and understanding your pension and how it’s protected.\r\n\r\n<img class=\"alignnone size-full wp-image-284115\" src=\"https://www.dummies.com/wp-content/uploads/finance-50s-seniors.jpg\" alt=\"finance after 50\" width=\"556\" height=\"371\" />\r\n<h5>© 2021 Eric Tyson and Bob Carlson. All rights reserved.</h5>","description":"You work hard for your money, and you should get to use your savings in your later years. In order to enjoy an enjoyable and stress-free retirement, you need to make the most of your finances and retirement planning. You can get on the right track by determining the appropriate age to retire, becoming familiar with Medicare, and understanding your pension and how it’s protected.\r\n\r\n<img class=\"alignnone size-full wp-image-284115\" src=\"https://www.dummies.com/wp-content/uploads/finance-50s-seniors.jpg\" alt=\"finance after 50\" width=\"556\" height=\"371\" />\r\n<h5>© 2021 Eric Tyson and Bob Carlson. All rights reserved.</h5>","blurb":"","authors":[{"authorId":8975,"name":"Eric Tyson","slug":"eric-tyson","description":" <p><b>Eric Tyson, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. He is the co-author of <i>Personal Finance For Canadians For Dummies</i>.</p>","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/8975"}},{"authorId":34463,"name":"Robert C. Carlson","slug":"robert-c-carlson","description":" <p><b>Eric Tyson</b> is a recognized personal finance counselor, writer, and lecturer. Tyson has been featured on and quoted in hundreds of publications and media outlets.</p> <p><b>Bob Carlson</b> is Chairman of the Board of Trustees of the Fairfax Country Employees&#8217; Retirement System.</p> ","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/34463"}}],"primaryCategoryTaxonomy":{"categoryId":34311,"title":"General Personal Finance","slug":"general-personal-finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"}},"secondaryCategoryTaxonomy":{"categoryId":34308,"title":"Retirement","slug":"retirement","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34308"}},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[{"articleId":141609,"title":"2 Ways to Get Answers to Your Medicare Questions after 50","slug":"2-ways-to-get-answers-to-your-medicare-questions-after-50","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/141609"}},{"articleId":141610,"title":"2 Key Benefits of a Long-Term Care Policy on Finances after 50","slug":"2-key-benefits-of-a-long-term-care-policy-on-finances-after-50","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/141610"}},{"articleId":141601,"title":"Filing Gift Tax Returns after 50","slug":"filing-gift-tax-returns-after-50","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/141601"}},{"articleId":141602,"title":"4 Things to Know about Long-Term Care and Finances after 50","slug":"4-things-to-know-about-long-term-care-and-finances-after-50","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/141602"}}],"fromCategory":[{"articleId":288537,"title":"Financial Security For Dummies Cheat Sheet","slug":"financial-security-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/288537"}},{"articleId":249522,"title":"Personal Finance in Your 20s and 30s: Online Resources to Find Service Providers","slug":"personal-finance-20s-30s-online-resources-find-service-providers","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/249522"}},{"articleId":240164,"title":"How to Write a Check","slug":"how-to-write-a-check","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/240164"}},{"articleId":208905,"title":"Personal Finance For Canadians For Dummies Cheat Sheet","slug":"personal-finance-for-canadians-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208905"}},{"articleId":208797,"title":"Personal Finance in Your 20s and 30s For Dummies Cheat Sheet","slug":"personal-finance-in-your-20s-30s-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208797"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282456,"slug":"personal-finance-after-50-for-dummies","isbn":"9781119724186","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"amazon":{"default":"https://www.amazon.com/gp/product/111972418X/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/111972418X/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/111972418X-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/111972418X/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/111972418X/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/personal-finance-after-50-for-dummies-3e-cover-9781119724186-203x255.jpg","width":203,"height":255},"title":"Personal Finance After 50 For Dummies","testBankPinActivationLink":"","bookOutOfPrint":true,"authorsInfo":"<p><b><b data-author-id=\"8975\">Eric Tyson</b>, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. He is the co-author of <i>Personal Finance For Canadians For Dummies</i>.</p> <p><b>Eric Tyson</b> is a recognized personal finance counselor, writer, and lecturer. Tyson has been featured on and quoted in hundreds of publications and media outlets.</p> <p><b>Bob Carlson</b> is Chairman of the Board of Trustees of the Fairfax Country Employees&#8217; Retirement System.</p>","authors":[{"authorId":8975,"name":"Eric Tyson","slug":"eric-tyson","description":" <p><b>Eric Tyson, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. He is the co-author of <i>Personal Finance For Canadians For Dummies</i>.</p>","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/8975"}},{"authorId":34463,"name":"Robert C. Carlson","slug":"robert-c-carlson","description":" <p><b>Eric Tyson</b> is a recognized personal finance counselor, writer, and lecturer. Tyson has been featured on and quoted in hundreds of publications and media outlets.</p> <p><b>Bob Carlson</b> is Chairman of the Board of Trustees of the Fairfax Country Employees&#8217; Retirement System.</p> ","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/34463"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;general-personal-finance&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119724186&quot;]}]\" id=\"du-slot-63221b36464ed\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;general-personal-finance&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119724186&quot;]}]\" id=\"du-slot-63221b3646da6\"></div></div>"},"articleType":{"articleType":"Cheat Sheet","articleList":[{"articleId":192899,"title":"The Age You Can Retire and the Benefits You Receive","slug":"the-age-you-can-retire-and-the-benefits-you-receive","categoryList":[],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/192899"}},{"articleId":192890,"title":"Medicare: Your Link to Health Care during Retirement","slug":"medicare-your-link-to-health-care-during-retirement","categoryList":[],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/192890"}},{"articleId":141374,"title":"What Is My Pension Protection?","slug":"what-is-my-pension-protection","categoryList":[],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/141374"}}],"content":[{"title":"The age you can retire and the benefits you receive","thumb":null,"image":null,"content":"<p>As you know, your age has a lot to do with when you can retire. If you retire at or later than your full retirement age for Social Security benefits, you’ll make the most of your benefits. Planning to maximize your benefits helps you to enjoy your golden years.</p>\n<p>The following table summarizes the age at which you may retire and begin full Social Security benefits. It also shows the reduction in those benefits (including for your spouse) if you desire partial benefits at age 62. This information is useful when you’re crunching numbers and trying to determine by what age you may be able to retire.</p>\n<table>\n<tbody>\n<tr>\n<th>Year of Birth</th>\n<th>Full Retirement Age (FRA)</th>\n<th>Months between Age 62 and FRA</th>\n<th>The Retirement Benefit Is Reduced By</th>\n<th>The Spouse’s Benefit Is Reduced By</th>\n</tr>\n<tr>\n<td>1937 or earlier</td>\n<td>65</td>\n<td>36</td>\n<td>20.00%</td>\n<td>25.00%</td>\n</tr>\n<tr>\n<td>1938</td>\n<td>65 and 2 months</td>\n<td>38</td>\n<td>20.83%</td>\n<td>25.83%</td>\n</tr>\n<tr>\n<td>1939</td>\n<td>65 and 4 months</td>\n<td>40</td>\n<td>21.67%</td>\n<td>26.67%</td>\n</tr>\n<tr>\n<td>1940</td>\n<td>65 and 6 months</td>\n<td>42</td>\n<td>22.50%</td>\n<td>27.50%</td>\n</tr>\n<tr>\n<td>1941</td>\n<td>65 and 8 months</td>\n<td>44</td>\n<td>23.33%</td>\n<td>28.33%</td>\n</tr>\n<tr>\n<td>1942</td>\n<td>65 and 10 months</td>\n<td>46</td>\n<td>24.17%</td>\n<td>29.17%</td>\n</tr>\n<tr>\n<td>1943–1954</td>\n<td>66</td>\n<td>48</td>\n<td>25.00%</td>\n<td>30.00%</td>\n</tr>\n<tr>\n<td>1955</td>\n<td>66 and 2 months</td>\n<td>50</td>\n<td>25.83%</td>\n<td>30.83%</td>\n</tr>\n<tr>\n<td>1956</td>\n<td>66 and 4 months</td>\n<td>52</td>\n<td>26.67%</td>\n<td>31.67%</td>\n</tr>\n<tr>\n<td>1957</td>\n<td>66 and 6 months</td>\n<td>54</td>\n<td>27.50%</td>\n<td>32.50%</td>\n</tr>\n<tr>\n<td>1958</td>\n<td>66 and 8 months</td>\n<td>56</td>\n<td>28.33%</td>\n<td>33.33%</td>\n</tr>\n<tr>\n<td>1959</td>\n<td>66 and 10 months</td>\n<td>58</td>\n<td>29.17%</td>\n<td>34.17%</td>\n</tr>\n<tr>\n<td>1960 and later</td>\n<td>67</td>\n<td>60</td>\n<td>30.00%</td>\n<td>35.00%</td>\n</tr>\n</tbody>\n</table>\n<p class=\"Remember\">If you were born on January 1, you’ll be treated as if you were born the previous year. If you were born on the first of the month, the benefit is figured as if your birthday was in the previous month. You must be at least 62 for the entire month to receive benefits. The percentages in the preceding table are approximate due to rounding. The maximum benefit for the spouse is 50 percent of the benefit the worker would receive at full retirement age. The percent reduction for the spouse should be applied after the automatic 50 percent reduction.</p>\n"},{"title":"Medicare: Your link to health care during retirement","thumb":null,"image":null,"content":"<p>Medicare is the primary program used to finance health care for retired Americans age 65 and older. It covers hospitalization and some basic medical services during your golden years. The good news: Almost anyone can join Medicare at age 65.</p>\n<p>Upon joining, each beneficiary pays a monthly premium along with deductibles and copayments. Medicare pays the rest of the covered health care services. Many medical services aren’t covered, however.</p>\n<p>The biggest gap in coverage for retirees is for long-term care. Medicare generally only pays for brief stays at long-term care facilities that are for rehabilitation or recovery after an illness, surgery, or injury. It pays only about 15 percent of nursing home expenses nationwide and even lower percentages of the cost of assisted living and home health care.</p>\n<p class=\"Remember\">As a prospective retiree, you should plan ahead for the possibility of needing nursing home care, assisted living, or home health care.</p>\n<p>The four parts of Medicare are</p>\n<ul class=\"level-one\">\n<li>\n<p class=\"first-para\"><b>Part A:</b> <a href=\"https://dummies-wp-admin.dummies.com/personal-finance/insurance/health-insurance/what-is-medicare-part-a/\" target=\"_blank\" rel=\"noopener\">This part</a> provides hospital coverage.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Part B:</b> <a href=\"https://dummies-wp-admin.dummies.com/personal-finance/insurance/health-insurance/what-is-medicare-part-b/\" target=\"_blank\" rel=\"noopener\">This part</a> covers outpatient medical services, such as visits to doctors.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Part C:</b> <a href=\"https://dummies-wp-admin.dummies.com/personal-finance/insurance/health-insurance/basics-medicare-part-c/\" target=\"_blank\" rel=\"noopener\">This part</a> is offered by private insurers as an alternative to Original Medicare and usually provides broader coverage.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Part D:</b> <a href=\"https://dummies-wp-admin.dummies.com/personal-finance/insurance/health-insurance/basics-medicare-part-d/\" target=\"_blank\" rel=\"noopener\">This part</a> provides prescription drug coverage.</p>\n</li>\n</ul>\n"},{"title":"What is my pension protection?","thumb":null,"image":null,"content":"<p>As you enter retirement, you may be fortunate enough to have a pension from your employer. If you have <i>vested</i> pension benefits (that is, benefits you have already earned based on your years of employment service), you may worry about losing those benefits if the company were to fail while you were sailing through your golden years.</p>\n<p>Rest assured that employer pensions are backed by the Pension Benefit Guaranty Corporation (PBGC), an independent government agency. The following table shows the 2015 annual and monthly maximum PBGC benefit guarantees you would receive if your former employer were to close up shop.</p>\n<table>\n<caption><strong>Maximum PBGC Benefit Guarantees</strong></caption>\n<tbody>\n<tr>\n<th>Age</th>\n<th>Monthly Maximum</th>\n<th>Monthly Joint and 50% Survivor Maximum*</th>\n</tr>\n<tr>\n<td><b>45</b></td>\n<td>$1,252.84</td>\n<td>$1,127.56</td>\n</tr>\n<tr>\n<td><b>46</b></td>\n<td>$1,353.07</td>\n<td>$1,217.76</td>\n</tr>\n<tr>\n<td><b>47</b></td>\n<td>$1,453.29</td>\n<td>$1,307.96</td>\n</tr>\n<tr>\n<td><b>48</b></td>\n<td>$1,553.52</td>\n<td>$1,398.17</td>\n</tr>\n<tr>\n<td><b>49</b></td>\n<td>$1,653.75</td>\n<td>$1,488.38</td>\n</tr>\n<tr>\n<td><b>50</b></td>\n<td>$1,753.98</td>\n<td>$1,578.58</td>\n</tr>\n<tr>\n<td><b>51</b></td>\n<td>$1,854.20</td>\n<td>$1,668.78</td>\n</tr>\n<tr>\n<td><b>52</b></td>\n<td>$1,954.43</td>\n<td>$1,758.99</td>\n</tr>\n<tr>\n<td><b>53</b></td>\n<td>$2,054.66</td>\n<td>$1,849.19</td>\n</tr>\n<tr>\n<td><b>54</b></td>\n<td>$2,154.88</td>\n<td>$1,939.39</td>\n</tr>\n<tr>\n<td><b>55</b></td>\n<td>$2,255.11</td>\n<td>$2,029.60</td>\n</tr>\n<tr>\n<td><b>56</b></td>\n<td>$2,455.57</td>\n<td>$2,210.01</td>\n</tr>\n<tr>\n<td><b>57</b></td>\n<td>$2,656.02</td>\n<td>$2,390.42</td>\n</tr>\n<tr>\n<td><b>58</b></td>\n<td>$2,856.48</td>\n<td>$2,570.83</td>\n</tr>\n<tr>\n<td><b>59</b></td>\n<td>$3,056.93</td>\n<td>$2,751.24</td>\n</tr>\n<tr>\n<td><b>60</b></td>\n<td>$3,257.38</td>\n<td>$2,931.64</td>\n</tr>\n<tr>\n<td><b>61</b></td>\n<td>$3,608.18</td>\n<td>$3,247.36</td>\n</tr>\n<tr>\n<td><b>62</b></td>\n<td>$3,958.97</td>\n<td>$3,563.07</td>\n</tr>\n<tr>\n<td><b>63</b></td>\n<td>$4,309.77</td>\n<td>$3,878.79</td>\n</tr>\n<tr>\n<td><b>64</b></td>\n<td>$4,660.56</td>\n<td>$4,194.50</td>\n</tr>\n<tr>\n<td><b>65</b></td>\n<td>$5,011.36</td>\n<td>$4,510.22</td>\n</tr>\n<tr>\n<td><b>66</b></td>\n<td>$5,512.50</td>\n<td>$4,961.25</td>\n</tr>\n<tr>\n<td><b>67</b></td>\n<td>$6,063.75</td>\n<td>$5,457.38</td>\n</tr>\n<tr>\n<td><b>68</b></td>\n<td>$6,715.22</td>\n<td>$6,043.70</td>\n</tr>\n<tr>\n<td><b>69</b></td>\n<td>$7,466.93</td>\n<td>$6,720.24</td>\n</tr>\n<tr>\n<td><b>70</b></td>\n<td>$8,318.86</td>\n<td>$7,486.97</td>\n</tr>\n<tr>\n<td><b>71</b></td>\n<td>$9,701.99</td>\n<td>$8,731.79</td>\n</tr>\n<tr>\n<td><b>72</b></td>\n<td>$11,085.13</td>\n<td>$9,976.62</td>\n</tr>\n<tr>\n<td><b>73</b></td>\n<td>$12,468.26</td>\n<td>$11,221.43</td>\n</tr>\n<tr>\n<td><b>74</b></td>\n<td>$13,851.40</td>\n<td>$12,466.26</td>\n</tr>\n<tr>\n<td><b>75</b></td>\n<td>$15,234.53</td>\n<td>$13,711.08</td>\n</tr>\n</tbody>\n</table>\n<p>*Both spouses the same age.</p>\n"}],"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Solve","lifeExpectancy":"One year","lifeExpectancySetFrom":"2022-04-05T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":207465},{"headers":{"creationTime":"2016-03-27T16:55:02+00:00","modifiedTime":"2022-03-10T20:03:20+00:00","timestamp":"2022-09-14T18:19:23+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"General Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"},"slug":"general-personal-finance","categoryId":34311}],"title":"Personal Finance in Your 20s and 30s For Dummies Cheat Sheet","strippedTitle":"personal finance in your 20s and 30s for dummies cheat sheet","slug":"personal-finance-in-your-20s-30s-for-dummies-cheat-sheet","canonicalUrl":"","seo":{"metaDescription":"Everyone needs to know how to manage their money. Learn how to minimize bad financial decisions and maximize good ones.","noIndex":0,"noFollow":0},"content":"Everyone needs to know how to manage their money. Having that knowledge and know-how early in your life pays bigger dividends over the decades of your adult life. And everyone makes mistakes, so <em>Personal Finance in Your 20s and 30s For Dummies</em> can help you minimize bad decisions and maximize good ones.\r\n\r\n[caption id=\"attachment_284842\" align=\"alignnone\" width=\"556\"]<img class=\"size-full wp-image-284842\" src=\"https://www.dummies.com/wp-content/uploads/finance-20s-30s.jpg\" alt=\"young woman working on her finances\" width=\"556\" height=\"371\" /> © Hurst Photo / Shutterstock.com[/caption]","description":"Everyone needs to know how to manage their money. Having that knowledge and know-how early in your life pays bigger dividends over the decades of your adult life. And everyone makes mistakes, so <em>Personal Finance in Your 20s and 30s For Dummies</em> can help you minimize bad decisions and maximize good ones.\r\n\r\n[caption id=\"attachment_284842\" align=\"alignnone\" width=\"556\"]<img class=\"size-full wp-image-284842\" src=\"https://www.dummies.com/wp-content/uploads/finance-20s-30s.jpg\" alt=\"young woman working on her finances\" width=\"556\" height=\"371\" /> © Hurst Photo / Shutterstock.com[/caption]","blurb":"","authors":[{"authorId":8975,"name":"Eric Tyson","slug":"eric-tyson","description":" <p><b>Eric Tyson, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. 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You want to make sure you create a firm foundation for your personal finances. Keep the following in mind when you start:</p>\n<ul class=\"level-one\">\n<li>\n<p class=\"first-para\"><b>Get a checkup.</b> Just as you benefit from a health checkup, be sure to get a checkup on your finances to ensure that you’re making the most of your money and your financial decisions.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Determine what you need with transaction and savings accounts and evaluate which banks and other financial firms offer accounts that best meet your needs. </b>Be on guard for high fees that erode your savings.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Celebrate the savings habit.</b> The earlier in life you’re able to save money regularly, the smaller the portion of your income you’ll need to save to accomplish a given goal. Scrutinize your current spending so that you know where your money is going and you can identify what to do about it.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Be on the lookout for spending reduction opportunities.</b> Regularly saving money, especially on a modest income, is challenging. I present many ideas for reducing your spending, but ultimately, how you cut your spending is a matter of personal preference.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Understand <a href=\"https://dummies-wp-admin.dummies.com/personal-finance/credit/defining-differences-between-bad-debt-and-good-debt/\" target=\"_blank\" rel=\"noopener\">good and bad debt</a>.</b> Debt can be a useful tool to enable the purchase of real estate or other valuable assets. Avoid consumer debt, such as on credit cards and auto loans. Consumer debt tends to be costly, and the interest isn’t tax-deductible.</p>\n</li>\n</ul>\n"},{"title":"Finances and daily living: credit scores, renting vs. buying, and more","thumb":null,"image":null,"content":"<p>How you manage your money can affect your domestic living situation in a number of ways. Be sure to consider these important points when you’re encountering finances in your 20s:</p>\n<ul class=\"level-one\">\n<li>\n<p class=\"first-para\"><b>Know and manage your credit score.</b> Your <a href=\"https://dummies-wp-admin.dummies.com/personal-finance/credit/how-your-actions-impact-your-credit-score/\" target=\"_blank\" rel=\"noopener\"><i>credit score</i></a> is a number that quantifies for lenders how likely you are to repay debts. Periodically access your credit reports, which you can do for free, and understand the steps you can take, as needed, to boost your credit score. Also take steps to protect your identity.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Consider all options before deciding to rent or buy.</b> Renting and sharing living space can be both economical and fun if you avoid the pitfalls. Buying and owning may make sense if you see yourself staying put for an extended period of time.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Communicate with your partner about money.</b> Money is often a source of friction in relationships. Thinking about money and planning how to manage it upfront with loved ones is usually time well spent.</p>\n</li>\n</ul>\n"},{"title":"Careers, taxes, and investing: keeping and growing your money","thumb":null,"image":null,"content":"<p>You work hard for your money. As you begin to build your own nest egg, make sure you do the following to grow your earnings:</p>\n<ul class=\"level-one\">\n<li>\n<p class=\"first-para\"><b>Make the most of your work potential and your career satisfaction.</b> Your single greatest asset is probably your future income-earning potential. Continue to invest in your education and training.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Manage your taxes.</b> You can utilize many legal strategies to reduce your taxable income and bolster your savings and investments.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Look at your investing options.</b> Investing may seem complicated and mysterious, but that need not be the case. The best investments and strategies build wealth over the long term.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Be diligent when putting together your investing portfolio.</b> How you assemble your portfolio should reflect your goals and what risk level you’re willing to accept.</p>\n</li>\n</ul>\n"},{"title":"Getting insurance to protect yourself and your income","thumb":null,"image":null,"content":"<p>Insurance plays a significant role in protecting your interests, including your health, your income, your property, and so on. Make sure you insure the following:</p>\n<ul class=\"level-one\">\n<li>\n<p class=\"first-para\"><b>Your health:</b> Though you may feel that you’re not likely to need it, having health insurance is wise. With a properly designed plan, you can contain the cost and get needed coverage.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Your income:</b> Even if you have no dependents, you depend on your income, so you should have long-term disability insurance. And if you have dependents, you may need life insurance, too.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Your possessions:</b> Insurance on your car, home, and other valuable possessions protects those assets from loss and protects you from lawsuits. Beware, though, of small-stuff policies that aren’t worth buying.</p>\n</li>\n</ul>\n"}],"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Advance","lifeExpectancy":"One year","lifeExpectancySetFrom":"2022-03-10T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":208797},{"headers":{"creationTime":"2016-03-27T16:52:40+00:00","modifiedTime":"2022-03-08T19:38:45+00:00","timestamp":"2022-09-14T18:19:22+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"General Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"},"slug":"general-personal-finance","categoryId":34311}],"title":"Personal Finance Workbook For Dummies Cheat Sheet","strippedTitle":"personal finance workbook for dummies cheat sheet","slug":"personal-finance-workbook-for-dummies-cheat-sheet","canonicalUrl":"","seo":{"metaDescription":"Does money seem to slip through your fingers? Get a handle on your personal finances by wiping out debt and considering your future.","noIndex":0,"noFollow":0},"content":"Getting a handle on your personal finances can be tough. We’re constantly being urged to spend, spend, spend, while others encourage us to save, save, save! The good news is that you can create a healthy balance between the two. When you understand your personal financial situation, you can make smart decisions about what to do with your money.\r\n\r\n[caption id=\"attachment_288972\" align=\"alignnone\" width=\"630\"]<img class=\"wp-image-288972 size-full\" src=\"https://www.dummies.com/wp-content/uploads/PersonalFinance.png\" alt=\"Hand putting card into ATM\" width=\"630\" height=\"420\" /> © Giovanni Gagliardi / Unsplash.com[/caption]","description":"Getting a handle on your personal finances can be tough. We’re constantly being urged to spend, spend, spend, while others encourage us to save, save, save! The good news is that you can create a healthy balance between the two. When you understand your personal financial situation, you can make smart decisions about what to do with your money.\r\n\r\n[caption id=\"attachment_288972\" align=\"alignnone\" width=\"630\"]<img class=\"wp-image-288972 size-full\" src=\"https://www.dummies.com/wp-content/uploads/PersonalFinance.png\" alt=\"Hand putting card into ATM\" width=\"630\" height=\"420\" /> © Giovanni Gagliardi / Unsplash.com[/caption]","blurb":"","authors":[{"authorId":9811,"name":"Sheryl Garrett","slug":"sheryl-garrett","description":" <b>Sheryl Garrett</b> is a financial advisor, author, and speaker. She founded the Garrett Planning Network and is the author of <i>Personal Finance Workbook For Dummies</i>. <p><b>Sue Hoppin</b> is the Deputy Director for Spouse Outreach at the Military Officers Association of America. In 2007, Military Spouse magazine placed Sue on their 2007 Who's Who of Military Spouses list.</p>","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/9811"}}],"primaryCategoryTaxonomy":{"categoryId":34311,"title":"General Personal Finance","slug":"general-personal-finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[],"relatedArticles":{"fromBook":[{"articleId":197146,"title":"Creating Files to Organize Tax Records","slug":"creating-files-to-organize-tax-records","categoryList":["business-careers-money","personal-finance","taxes"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/197146"}},{"articleId":197098,"title":"Establishing Automatic Investment Programs for Retirement","slug":"establishing-automatic-investment-programs-for-retirement","categoryList":["technology","computers","macs","general-macs"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/197098"}},{"articleId":181915,"title":"How to Wipe Out Credit Card Debt","slug":"how-to-wipe-out-credit-card-debt","categoryList":["technology","computers","macs","general-macs"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/181915"}},{"articleId":181909,"title":"Considering Your Financial Future","slug":"considering-your-financial-future","categoryList":["technology","computers","macs","general-macs"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/181909"}},{"articleId":181884,"title":"Questions to Ask when Hiring a Financial Advisor","slug":"questions-to-ask-when-hiring-a-financial-advisor","categoryList":["technology","computers","macs","general-macs"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/181884"}}],"fromCategory":[{"articleId":288537,"title":"Financial Security For Dummies Cheat Sheet","slug":"financial-security-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/288537"}},{"articleId":249522,"title":"Personal Finance in Your 20s and 30s: Online Resources to Find Service Providers","slug":"personal-finance-20s-30s-online-resources-find-service-providers","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/249522"}},{"articleId":240164,"title":"How to Write a Check","slug":"how-to-write-a-check","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/240164"}},{"articleId":208905,"title":"Personal Finance For Canadians For Dummies Cheat Sheet","slug":"personal-finance-for-canadians-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208905"}},{"articleId":208797,"title":"Personal Finance in Your 20s and 30s For Dummies Cheat Sheet","slug":"personal-finance-in-your-20s-30s-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208797"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":282461,"slug":"personal-finance-workbook-for-dummies-2nd-edition","isbn":"9781118106259","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"amazon":{"default":"https://www.amazon.com/gp/product/1118106253/ref=as_li_tl?ie=UTF8&tag=wiley01-20","ca":"https://www.amazon.ca/gp/product/1118106253/ref=as_li_tl?ie=UTF8&tag=wiley01-20","indigo_ca":"http://www.tkqlhce.com/click-9208661-13710633?url=https://www.chapters.indigo.ca/en-ca/books/product/1118106253-item.html&cjsku=978111945484","gb":"https://www.amazon.co.uk/gp/product/1118106253/ref=as_li_tl?ie=UTF8&tag=wiley01-20","de":"https://www.amazon.de/gp/product/1118106253/ref=as_li_tl?ie=UTF8&tag=wiley01-20"},"image":{"src":"https://www.dummies.com/wp-content/uploads/personal-finance-workbook-for-dummies-2nd-edition-cover-9781118106259-203x255.jpg","width":203,"height":255},"title":"Personal Finance Workbook For Dummies","testBankPinActivationLink":"","bookOutOfPrint":false,"authorsInfo":"<b data-author-id=\"9811\">Sheryl Garrett</b> is a Certified Financial Planner professional and founder of The Garrett Planning Network, Inc.","authors":[{"authorId":9811,"name":"Sheryl Garrett","slug":"sheryl-garrett","description":" <b>Sheryl Garrett</b> is a financial advisor, author, and speaker. She founded the Garrett Planning Network and is the author of <i>Personal Finance Workbook For Dummies</i>. <p><b>Sue Hoppin</b> is the Deputy Director for Spouse Outreach at the Military Officers Association of America. In 2007, Military Spouse magazine placed Sue on their 2007 Who's Who of Military Spouses list.</p>","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/9811"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[{"title":"Make a Commitment to Better Yourself","slug":"make-a-commitment-to-better-yourself","collectionId":290164}],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;general-personal-finance&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781118106259&quot;]}]\" id=\"du-slot-63221b2a38513\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;general-personal-finance&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781118106259&quot;]}]\" id=\"du-slot-63221b2a38fbc\"></div></div>"},"articleType":{"articleType":"Cheat Sheet","articleList":[{"articleId":181915,"title":"How to Wipe Out Credit Card Debt","slug":"how-to-wipe-out-credit-card-debt","categoryList":["technology","computers","macs","general-macs"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/181915"}},{"articleId":181909,"title":"Considering Your Financial Future","slug":"considering-your-financial-future","categoryList":["technology","computers","macs","general-macs"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/181909"}},{"articleId":181883,"title":"Teaching Children about Money","slug":"teaching-children-about-money","categoryList":["technology","computers","macs","general-macs"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/181883"}},{"articleId":181884,"title":"Questions to Ask when Hiring a Financial Advisor","slug":"questions-to-ask-when-hiring-a-financial-advisor","categoryList":["technology","computers","macs","general-macs"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/181884"}}],"content":[{"title":"How to wipe out credit card debt","thumb":null,"image":null,"content":"<p>When you’re ready to eliminate your credit card debt, you can take one of two approaches: pay off the card with the highest balance first, which allows you to save on interest in the long-run, or pay off the smallest balance first, which makes you feel good about your progress.</p>\n<p>Choose your preferred method and then follow these steps to wipe out your credit card debt:</p>\n<ol class=\"level-one\">\n<li>\n<p class=\"first-para\">List all your credit card debtors in order of the highest-interest-rate first or the smallest balance first, whichever you feel may be most effective.</p>\n</li>\n<li>\n<p class=\"first-para\">List the current balances on each of these accounts.</p>\n</li>\n<li>\n<p class=\"first-para\">List the minimum required monthly payment for each account.</p>\n</li>\n<li>\n<p class=\"first-para\">Total the minimum required monthly payments.</p>\n</li>\n<li>\n<p class=\"first-para\">Apply any surplus funds toward your highest-interest-rate debt or the debts with the smallest balances.</p>\n</li>\n</ol>\n"},{"title":"Considering your financial future","thumb":null,"image":null,"content":"<p>Managing your personal finances requires a balance between what you need and want today and what you’ll need and want in the future. Always going for instant gratification leads to constant dissatisfaction! Instead, plan ahead by using the following tips:</p>\n<ul class=\"level-one\">\n<li>\n<p class=\"first-para\">Write down your goals. Be specific and revisit them annually.</p>\n</li>\n<li>\n<p class=\"first-para\">Save at least the first 10 percent of your income.</p>\n</li>\n<li>\n<p class=\"first-para\">Set up your savings and investing to occur automatically.</p>\n</li>\n<li>\n<p class=\"first-para\">Don’t miss out on free money from the matching contribution in your employer’s retirement plan or the phenomenal benefits of the Roth IRA.</p>\n</li>\n<li>\n<p class=\"first-para\">Don’t use credit if you can’t pay cash. Credit cards are convenience tools, not loans. If you can’t afford it today, you can’t afford to pay twice as much over time. Going into debt gives others control of your financial freedom.</p>\n</li>\n<li>\n<p class=\"first-para\">Before spending money, always ask yourself, “How will this affect my net worth?”</p>\n</li>\n</ul>\n<p>Remember: Nobody will watch out for your money better than you, and everybody wants a piece of what you have!</p>\n"},{"title":"Teaching children about money","thumb":null,"image":null,"content":"<p>As an adult, you need to model good money-management behaviors for children and involve them as much as possible in your decisions about money. Here are some ways you can interact with your children to help instill healthy money-management behavior:</p>\n<ul class=\"level-one\">\n<li>\n<p class=\"first-para\"><b>Give children specific roles with regard to daily, weekly, and monthly money-management activities.</b> This can include finding and printing coupons online or in the mail, making selections when grocery shopping, and going to the bank and interacting with the teller.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Help children discover that compromises are normal.</b> Involve your children in a conversation about compromises regarding money-management decisions. Share the issues and your thoughts with your children and ask for their ideas.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Allow your children the opportunity to earn their own money and make their own decisions about what to do with it,</b> <b>with minimal influence on your part.</b> If what they do with their money isn’t dangerous or illegal — regardless of how practical you think it is — allow them to proceed. Having responsibility and autonomy leaves them open to making bad decisions, but they’ll learn invaluable lessons about money management while you’re nearby to provide guidance when necessary.</p>\n</li>\n</ul>\n"},{"title":"Questions to ask when hiring a financial advisor","thumb":null,"image":null,"content":"<p>You, the client, have the right to ask any questions you feel are appropriate to help you select the right advisor. If you’re trying to figure out whether an advisor is worth your hard-earned dollars, be sure to ask the following questions:</p>\n<ul class=\"level-one\">\n<li>\n<p class=\"first-para\"><b>How and how much are you paid?</b> Advisors are required to tell you how they’re paid but not how much. If an advisor quotes their compensation as a percentage, ask them to convert that compensation into dollars and get it in writing. Don’t settle for the common brush-off response, “I’m paid by the company.” The advisor doesn’t get paid by the company if they don&#8217;t sell you some sort of an insurance or investment product. And if the advisor can’t or won’t tell you how much they’ll be compensated if you work with them, they&#8217;re definitely getting paid commissions and likely don’t want to tell you how much.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Are you a fiduciary?</b> A <i>fiduciary</i> has a legal responsibility to put her client’s interest above all others. If you’re seeking professional, objective financial advice, don’t settle for anything less than a fiduciary.</p>\n</li>\n</ul>\n<p>Starting with these questions saves you a lot of time because asking them eliminates the overwhelming majority of advisors. Now you can concentrate your search for an advisor based on her qualifications, experience, and expertise.</p>\n"}],"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Solve","lifeExpectancy":"One year","lifeExpectancySetFrom":"2021-10-15T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":208422},{"headers":{"creationTime":"2016-03-27T16:55:44+00:00","modifiedTime":"2022-02-28T15:40:12+00:00","timestamp":"2022-09-14T18:19:17+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"General Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"},"slug":"general-personal-finance","categoryId":34311}],"title":"Personal Finance For Canadians For Dummies Cheat Sheet","strippedTitle":"personal finance for canadians for dummies cheat sheet","slug":"personal-finance-for-canadians-for-dummies-cheat-sheet","canonicalUrl":"","seo":{"metaDescription":"Take charge of your money by learning how to tackle debt, improve your credit, and bolster your personal finances.","noIndex":0,"noFollow":0},"content":"<span lang=\"EN-CA\">If you’re searching for some helpful advice on how to manage your personal finances, congratulations! You’ve found it!</span>\r\n\r\nIf you’re like most Canadians, words like <em>debt,</em> <em>RRSP</em><em>, </em>and <em>credit scor</em>e aren’t music to your ears. But no matter how much money you have, or how much you know about personal finance, there are many ways you can take charge of your money to improve your financial health. The following articles show you how, offering tips to help you tackle debt, understand RRSPs, and improve your credit score.\r\n\r\n ","description":"<span lang=\"EN-CA\">If you’re searching for some helpful advice on how to manage your personal finances, congratulations! You’ve found it!</span>\r\n\r\nIf you’re like most Canadians, words like <em>debt,</em> <em>RRSP</em><em>, </em>and <em>credit scor</em>e aren’t music to your ears. But no matter how much money you have, or how much you know about personal finance, there are many ways you can take charge of your money to improve your financial health. The following articles show you how, offering tips to help you tackle debt, understand RRSPs, and improve your credit score.\r\n\r\n ","blurb":"","authors":[{"authorId":8975,"name":"Eric Tyson","slug":"eric-tyson","description":" <p><b>Eric Tyson, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. He is the co-author of <i>Personal Finance For Canadians For Dummies</i>.</p>","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/8975"}},{"authorId":34468,"name":"Tony Martin","slug":"tony-martin","description":" <p><b>Eric Tyson, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. 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He is the co-author of <i>Personal Finance For Canadians For Dummies</i>.</p> <p><b>Eric Tyson, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b><b data-author-id=\"34468\">Tony Martin</b>, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. He is the co-author of <i>Personal Finance For Canadians For Dummies</i>.</p>","authors":[{"authorId":8975,"name":"Eric Tyson","slug":"eric-tyson","description":" <p><b>Eric Tyson, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. He is the co-author of <i>Personal Finance For Canadians For Dummies</i>.</p>","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/8975"}},{"authorId":34468,"name":"Tony Martin","slug":"tony-martin","description":" <p><b>Eric Tyson, MBA,</b> is a renowned finance counselor, syndicated columnist, and author of numerous bestselling financial titles.</p> <p><b>Tony Martin, B.Comm,</b> is a nationally-recognized personal finance, speaker, commentator, columnist, management trainer, and communications consultant. He is the co-author of <i>Personal Finance For Canadians For Dummies</i>.</p>","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/34468"}}],"_links":{"self":"https://dummies-api.dummies.com/v2/books/"}},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;general-personal-finance&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119522799&quot;]}]\" id=\"du-slot-63221b25cd5f6\"></div></div>","rightAd":"<div class=\"du-ad-region row\" id=\"article_page_right_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_right_ad\" data-refreshed=\"false\" \r\n data-target = \"[{&quot;key&quot;:&quot;cat&quot;,&quot;values&quot;:[&quot;business-careers-money&quot;,&quot;personal-finance&quot;,&quot;general-personal-finance&quot;]},{&quot;key&quot;:&quot;isbn&quot;,&quot;values&quot;:[&quot;9781119522799&quot;]}]\" id=\"du-slot-63221b25cdfcd\"></div></div>"},"articleType":{"articleType":"Cheat Sheet","articleList":[{"articleId":191521,"title":"Debt Reduction 101: Strategies for Canadians","slug":"debt-reduction-101-strategies-for-canadians","categoryList":[],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/191521"}},{"articleId":191505,"title":"RRSP Basics for Canadians","slug":"rrsp-basics-for-canadians","categoryList":["business-careers-money","personal-finance","retirement"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/191505"}},{"articleId":191520,"title":"Improving Your Credit Score: Tips for Canadians","slug":"improving-your-credit-score-tips-for-canadians","categoryList":[],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/191520"}}],"content":[{"title":"Debt reduction 101: Strategies for Canadians","thumb":null,"image":null,"content":"<p>Believe it or not, there are not one, but <em>two </em>kinds of debt! <em>Bad debt</em> (consumer debt) is money that you borrow to buy things like a new car that you really can’t afford. Think of it like living on a diet of sugar and caffeine: a quick fix with little nutritional value. Getting rid of your bad debts may be even more difficult than giving up the junk foods you love, but in the long run, you’ll be financially healthier and emotionally happier.</p>\n<p>Follow these strategies for battling your consumer debt:</p>\n<ul class=\"level-one\">\n<li><strong><span lang=\"EN-CA\">Use your savings.</span></strong><span lang=\"EN-CA\"> If you have some savings that could be used to pay off outstanding balances on a high-interest credit card or an auto loan, consider doing so. (Make sure you pay off the loans with the highest interest rates first.) Although your savings and investments may be earning decent returns, the interest you’re paying on your consumer debts is likely higher.</span></li>\n<li><strong><span lang=\"EN-CA\">Search for money you may have overlooked. </span></strong><span lang=\"EN-CA\">Consider borrowing against your cash-value life insurance policy, selling investments held outside of registered retirement plans, borrowing against the equity in your home, and borrowing from friends and family. These are all possible solutions to dealing with consumer debt you may have not considered.</span></li>\n<li><strong><span lang=\"EN-CA\">Reduce the interest rate on your credit cards. </span></strong><span lang=\"EN-CA\">Apply for a lower-rate credit card and transfer any outstanding balances from higher-rate cards. Be sure to check out all the terms and conditions as you hunt for a better rate. In particular, look into how much your interest rate can increase if you miss payments or make them late, and how the future interest rate is determined on cards that charge variable interest rates).</span></li>\n<li>\n<p class=\"first-para\"><strong>Stop making purchases on cards that have outstanding balances. </strong>Many people don’t realize that interest starts to accumulate <em>immediately</em> when they carry a balance. You have no<em> grace period </em>(the 20 or so days you normally have to pay your balance in full without incurring interest charges) if you carry a credit card balance month to month.</p>\n</li>\n<li>\n<p class=\"first-para\"><strong>Cut up your credit cards.</strong> If you have a pattern of living beyond your means, get rid of the culprit: the credit card. If you can trust yourself, keep a separate credit card <em>only</em> for new purchases that you know you can absolutely pay in full each month. No one needs three, five, or ten credit cards!</p>\n</li>\n<li><strong><span lang=\"EN-CA\">Consider credit counselling.</span></strong><span lang=\"EN-CA\"> If you’re deeply in debt, credit-counselling agencies can help work out a debt management program. The <a href=\"http://www.caccs.ca/\" target=\"_blank\" rel=\"noopener\">Canadian Association of Credit Counselling Services</a> and <a href=\"http://www.creditcounsellingcanada.ca/\" target=\"_blank\" rel=\"noopener\">Credit Counselling Canada</a> can help you find an approved not-for-profit credit-counselling agency in your area.</span></li>\n</ul>\n"},{"title":"RRSP basics for Canadians","thumb":null,"image":null,"content":"<p><span lang=\"EN-CA\">For almost all Canadians, a Registered Retirement Savings Plan (RRSP) is the single best, easiest, and most efficient way to save for retirement. An RRSP also offers one of the best ways to reduce the amount of tax you pay.</span></p>\n<h3>The benefits of RRSPs</h3>\n<p><span lang=\"EN-CA\">When you open an RRSP, you’re making a deal with the government. By “registering” your retirement savings plan, you agree to put money away for your retirement and not spend it. In return, the government gives you two valuable benefits:</span></p>\n<ul>\n<li><strong>Money that you contribute to your RRSP is deductible from your taxable income. </strong>This means that any income you contribute to your savings plan is not taxed. Say you earn $50,000 a year, and contribute $5,000 to your RRSP. If you claimed that $5,000 as a deduction on your tax return, your income tax would be calculated as though you had made only $45,000 that year.</li>\n<li><strong>The government lets the savings in your RRSP grow tax free.</strong> Any profits you earn on investments inside your RRSP aren’t taxed until you close your plan and withdraw the funds. When interest and earnings on investments aren’t taxed, the full value of your gains is added to the original amount. This new, larger amount then earns further gains, which again are added to, or compounded with, your existing investments. This phenomenon is called <em>compound growth,</em> and over time it will lead to your retirement savings growing exponentially.</li>\n</ul>\n<h3>Maximizing your RRSP’s growth</h3>\n<p>You can maximize the growth of your RRSP in two simple steps:</p>\n<ul>\n<li><strong>Begin contributing </strong><strong>as early as you can</strong><strong> — and are eligible to — in life.</strong> The longer you have money in an RRSP, the more time your savings have to compound. Even if you’re just 25 and you have only $1,000 to spare, put it in an RRSP! If you earn an average of 10 percent a year, you’ll have an extra $45,000 in your plan when you retire at 65.</li>\n<li><strong>Try to maximize your RRSP’s returns. </strong>Choosing appropriate investments is critical to maximizing the growth of your RRSP. And the more years you have before you have to collapse your plan, the larger the impact of boosting your returns by even just 1 percent or 2 percent.</li>\n</ul>\n"},{"title":"Improving your credit score: Tips for Canadians","thumb":null,"image":null,"content":"<p>The most important actions you can take to boost your credit score in Canada (and your attractiveness to lenders) are the following:</p>\n<ul class=\"level-one\">\n<li>\n<p class=\"first-para\"><b>Obtain copies of your credit reports. </b>You’re entitled to receive a free copy of your credit report annually from the two main credit bureaus in Canada (Equifax and TransUnion). You can obtain a credit report for free by requesting it by mail.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Be sure your credit reports are accurate. </b>Correct errors and be especially sure to get accounts removed if they aren’t yours and they show late payments or are in collection.</p>\n</li>\n<li><strong><span lang=\"EN-CA\">Ask to have any late or missed payments that are more than six years old removed.</span></strong><span lang=\"EN-CA\"> Ditto for a bankruptcy more than six or seven years ago.</span></li>\n<li>\n<p class=\"first-para\"><b>Pay all your bills on time.</b> To ensure on-time payments, sign up for automatic bill payment, which most companies (like phone and utility providers) enable you to use.</p>\n</li>\n<li>\n<p class=\"first-para\"><b>Be loyal if it doesn’t cost you.</b> The older the loan accounts you have open, the better for your credit rating. Closing old accounts and opening a bunch of new ones generally lowers your credit score. But don’t be loyal if it costs you! For example, if you’re carrying credit card debt at a high interest rate, it may pay to transfer that balance to a lower-rate card. If your current credit card provider refuses to match a lower rate you find elsewhere, move your balance and save yourself some money.</p>\n</li>\n<li><strong><span lang=\"EN-CA\">Limit the number of debt and debt accounts.</span></strong><span lang=\"EN-CA\"> The more individual loans — especially consumer loans — that you hold, and the higher the balances, the lower your credit score will be.</span></li>\n<li>\n<p class=\"first-para\"><b>Work to pay down consumer revolving debt (such as on credit cards).</b></p>\n</li>\n</ul>\n"}],"videoInfo":{"videoId":null,"name":null,"accountId":null,"playerId":null,"thumbnailUrl":null,"description":null,"uploadDate":null}},"sponsorship":{"sponsorshipPage":false,"backgroundImage":{"src":null,"width":0,"height":0},"brandingLine":"","brandingLink":"","brandingLogo":{"src":null,"width":0,"height":0},"sponsorAd":"","sponsorEbookTitle":"","sponsorEbookLink":"","sponsorEbookImage":{"src":null,"width":0,"height":0}},"primaryLearningPath":"Solve","lifeExpectancy":"Two years","lifeExpectancySetFrom":"2022-01-13T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":208905},{"headers":{"creationTime":"2016-03-26T20:21:08+00:00","modifiedTime":"2021-12-21T21:53:12+00:00","timestamp":"2022-09-14T18:18:56+00:00"},"data":{"breadcrumbs":[{"name":"Business, Careers, & Money","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34224"},"slug":"business-careers-money","categoryId":34224},{"name":"Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34273"},"slug":"personal-finance","categoryId":34273},{"name":"General Personal Finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"},"slug":"general-personal-finance","categoryId":34311}],"title":"How to Balance a Checkbook","strippedTitle":"how to balance a checkbook","slug":"how-to-balance-a-checkbook","canonicalUrl":"","seo":{"metaDescription":"When you use a checkbook, you need to know basic addition and subtraction to keep it balanced. Balancing a checkbook means you've recorded all additions (deposi","noIndex":0,"noFollow":0},"content":"When you use a checkbook, you need to know basic addition and subtraction to keep it balanced. <i>Balancing</i> a checkbook means you've recorded all additions (deposits) made to your account and subtractions (withdrawals). Each deposit and withdrawal is called a <i>transaction</i>. The purpose for balancing a checkbook is to know how much actual money you have in your checking account at any given time.\r\n<h2 id=\"tab1\" >What's a checkbook register?</h2>\r\n<p class=\"Remember\">Step one in balancing your checkbook is to mark down all transactions in your register, which comes with your checkbook. The register is a little booklet where you write down each transaction (check, ATM withdrawal, debit card payment, or deposit.)</p>\r\nYour register probably will have at least six columns:\r\n<blockquote><b>Number: </b>The check number.</blockquote>\r\n<blockquote><b>Date:</b> The date you made the transaction.</blockquote>\r\n<blockquote><b>Description: </b>To whom the check was written, or if you made an ATM withdrawal, or used your debit card.</blockquote>\r\n<blockquote><b>Amount or debit: </b>The exact sum of the check, withdrawal or payment.</blockquote>\r\n<blockquote><b>Deposit: </b>This is where you mark down any deposits such as paychecks, money gifts (from a super-wealthy relative, perhaps?), money you may have transferred from a savings account into your checking account, and so on.</blockquote>\r\n<blockquote><b>Balance:</b> The actual amount of money that's in your account. You start with an <i>opening balance</i> (the amount of money you had when you opened the checking account). And then, by subtracting all checks, withdrawals, payments, and bank fees, and by adding any deposits or interest payments, you will arrive at your balance for that day.</blockquote>\r\n<h2 id=\"tab2\" >Checkbook no-no: A bounced check</h2>\r\nThe lower your balance, the more important it is for you to be precise in recording all transactions; in so doing, you avoid bouncing a check. A <i>bounced check</i> is a check that the bank has returned (bounced back) to you because it's worthless; that is, the check is for an amount greater than the actual amount of money you have left in your account.\r\n\r\nFor example, if you send the phone company a check for $100 but your actual balance is only $75, then that check will bounce. When the phone company presents that check to your bank for payment, it will get a notice that your account has insufficient funds. Your bank will charge you a fee, in the range of $25 to $50 (this is a fee that you should ask about when opening an account) and the other party's bank will charge them a fee, as well. So bouncing a check is not only embarrassing, it can be quite costly.\r\n<p class=\"Tip\">Protect yourself against ever bouncing a check by having overdraft protection; ask your bank if it offers this service. The bank will then honor your bounced checks, but start charging you interest, usually at a high rate, from day one.</p>\r\nTo avoid bouncing a check, you need to know how much money is in your account, which you do by balancing your checkbook. (Going online or to an ATM to check your balance will not give you an accurate number if you have any outstanding checks, that is to say checks you've written that have not yet been presented to the bank for payment.)\r\n<h2 id=\"tab3\" >The most common mistakes when keeping a checkbook</h2>\r\nThe most common mistakes when keeping a checkbook is forgetting to record each transaction, and forgetting to record it at the time it happens. Yes, your monthly bank statement will give you information on checks you've written, or an ATM withdrawal, or a debit card payment — but by the time your statement comes in, you could have written several more checks that remain outstanding.\r\n\r\nIf you always keep more money in your account than you spend every month, you'll be safe. But if your balance is usually low by the end of the month the more careful you have to be in making sure you know how much money you actually have.\r\n<p class=\"Tip\">To avoid making mathematical errors, buy a register cover with a built in calculator. Some even keep track of your balance for you, provided you enter all transactions.</p>\r\nWhen your statement comes in, you should compare it to your register, fixing any mistakes, such as those times you took cash from an ATM and didn't record it when you got home. Of course, you can also just believe the bank and adjust the balance in your register to agree with the bank's closing balance on the closing date, which you can also do at any time by checking on line or at an ATM. But remember, your actual balance may be less than what the bank says if you have outstanding checks.","description":"When you use a checkbook, you need to know basic addition and subtraction to keep it balanced. <i>Balancing</i> a checkbook means you've recorded all additions (deposits) made to your account and subtractions (withdrawals). Each deposit and withdrawal is called a <i>transaction</i>. The purpose for balancing a checkbook is to know how much actual money you have in your checking account at any given time.\r\n<h2 id=\"tab1\" >What's a checkbook register?</h2>\r\n<p class=\"Remember\">Step one in balancing your checkbook is to mark down all transactions in your register, which comes with your checkbook. The register is a little booklet where you write down each transaction (check, ATM withdrawal, debit card payment, or deposit.)</p>\r\nYour register probably will have at least six columns:\r\n<blockquote><b>Number: </b>The check number.</blockquote>\r\n<blockquote><b>Date:</b> The date you made the transaction.</blockquote>\r\n<blockquote><b>Description: </b>To whom the check was written, or if you made an ATM withdrawal, or used your debit card.</blockquote>\r\n<blockquote><b>Amount or debit: </b>The exact sum of the check, withdrawal or payment.</blockquote>\r\n<blockquote><b>Deposit: </b>This is where you mark down any deposits such as paychecks, money gifts (from a super-wealthy relative, perhaps?), money you may have transferred from a savings account into your checking account, and so on.</blockquote>\r\n<blockquote><b>Balance:</b> The actual amount of money that's in your account. You start with an <i>opening balance</i> (the amount of money you had when you opened the checking account). And then, by subtracting all checks, withdrawals, payments, and bank fees, and by adding any deposits or interest payments, you will arrive at your balance for that day.</blockquote>\r\n<h2 id=\"tab2\" >Checkbook no-no: A bounced check</h2>\r\nThe lower your balance, the more important it is for you to be precise in recording all transactions; in so doing, you avoid bouncing a check. A <i>bounced check</i> is a check that the bank has returned (bounced back) to you because it's worthless; that is, the check is for an amount greater than the actual amount of money you have left in your account.\r\n\r\nFor example, if you send the phone company a check for $100 but your actual balance is only $75, then that check will bounce. When the phone company presents that check to your bank for payment, it will get a notice that your account has insufficient funds. Your bank will charge you a fee, in the range of $25 to $50 (this is a fee that you should ask about when opening an account) and the other party's bank will charge them a fee, as well. So bouncing a check is not only embarrassing, it can be quite costly.\r\n<p class=\"Tip\">Protect yourself against ever bouncing a check by having overdraft protection; ask your bank if it offers this service. The bank will then honor your bounced checks, but start charging you interest, usually at a high rate, from day one.</p>\r\nTo avoid bouncing a check, you need to know how much money is in your account, which you do by balancing your checkbook. (Going online or to an ATM to check your balance will not give you an accurate number if you have any outstanding checks, that is to say checks you've written that have not yet been presented to the bank for payment.)\r\n<h2 id=\"tab3\" >The most common mistakes when keeping a checkbook</h2>\r\nThe most common mistakes when keeping a checkbook is forgetting to record each transaction, and forgetting to record it at the time it happens. Yes, your monthly bank statement will give you information on checks you've written, or an ATM withdrawal, or a debit card payment — but by the time your statement comes in, you could have written several more checks that remain outstanding.\r\n\r\nIf you always keep more money in your account than you spend every month, you'll be safe. But if your balance is usually low by the end of the month the more careful you have to be in making sure you know how much money you actually have.\r\n<p class=\"Tip\">To avoid making mathematical errors, buy a register cover with a built in calculator. Some even keep track of your balance for you, provided you enter all transactions.</p>\r\nWhen your statement comes in, you should compare it to your register, fixing any mistakes, such as those times you took cash from an ATM and didn't record it when you got home. Of course, you can also just believe the bank and adjust the balance in your register to agree with the bank's closing balance on the closing date, which you can also do at any time by checking on line or at an ATM. But remember, your actual balance may be less than what the bank says if you have outstanding checks.","blurb":"","authors":[{"authorId":10140,"name":"Pierre Lehu","slug":"pierre-lehu","description":"","hasArticle":false,"_links":{"self":"https://dummies-api.dummies.com/v2/authors/10140"}}],"primaryCategoryTaxonomy":{"categoryId":34311,"title":"General Personal Finance","slug":"general-personal-finance","_links":{"self":"https://dummies-api.dummies.com/v2/categories/34311"}},"secondaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"tertiaryCategoryTaxonomy":{"categoryId":0,"title":null,"slug":null,"_links":null},"trendingArticles":null,"inThisArticle":[{"label":"What's a checkbook register?","target":"#tab1"},{"label":"Checkbook no-no: A bounced check","target":"#tab2"},{"label":"The most common mistakes when keeping a checkbook","target":"#tab3"}],"relatedArticles":{"fromBook":[],"fromCategory":[{"articleId":288537,"title":"Financial Security For Dummies Cheat Sheet","slug":"financial-security-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/288537"}},{"articleId":249522,"title":"Personal Finance in Your 20s and 30s: Online Resources to Find Service Providers","slug":"personal-finance-20s-30s-online-resources-find-service-providers","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/249522"}},{"articleId":240164,"title":"How to Write a Check","slug":"how-to-write-a-check","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/240164"}},{"articleId":208905,"title":"Personal Finance For Canadians For Dummies Cheat Sheet","slug":"personal-finance-for-canadians-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208905"}},{"articleId":208797,"title":"Personal Finance in Your 20s and 30s For Dummies Cheat Sheet","slug":"personal-finance-in-your-20s-30s-for-dummies-cheat-sheet","categoryList":["business-careers-money","personal-finance","general-personal-finance"],"_links":{"self":"https://dummies-api.dummies.com/v2/articles/208797"}}]},"hasRelatedBookFromSearch":false,"relatedBook":{"bookId":0,"slug":null,"isbn":null,"categoryList":null,"amazon":null,"image":null,"title":null,"testBankPinActivationLink":null,"bookOutOfPrint":false,"authorsInfo":null,"authors":null,"_links":null},"collections":[],"articleAds":{"footerAd":"<div class=\"du-ad-region row\" id=\"article_page_adhesion_ad\"><div class=\"du-ad-unit col-md-12\" data-slot-id=\"article_page_adhesion_ad\" 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years","lifeExpectancySetFrom":"2021-06-30T00:00:00+00:00","dummiesForKids":"no","sponsoredContent":"no","adInfo":"","adPairKey":[]},"status":"publish","visibility":"public","articleId":187228}],"_links":{"self":{"self":"https://dummies-api.dummies.com/v2/categories/34311/categoryArticles?sortField=time&sortOrder=1&size=10&offset=0"},"next":{"self":"https://dummies-api.dummies.com/v2/categories/34311/categoryArticles?sortField=time&sortOrder=1&size=10&offset=10"},"last":{"self":"https://dummies-api.dummies.com/v2/categories/34311/categoryArticles?sortField=time&sortOrder=1&size=10&offset=20"}}},"objectTitle":"","status":"success","pageType":"article-category","objectId":"34311","page":1,"sortField":"time","sortOrder":1,"categoriesIds":[],"articleTypes":[],"filterData":{"categoriesFilter":[{"itemId":0,"itemName":"All Categories","count":30}],"articleTypeFilter":[{"articleType":"All Types","count":30},{"articleType":"Articles","count":23},{"articleType":"Cheat 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QUALTRICS WEBSITE FEEDBACK SNIPPET-->\r\n<script type='text/javascript'>\r\n(function(){var g=function(e,h,f,g){\r\nthis.get=function(a){for(var a=a+\"=\",c=document.cookie.split(\";\"),b=0,e=c.length;b<e;b++){for(var d=c[b];\" \"==d.charAt(0);)d=d.substring(1,d.length);if(0==d.indexOf(a))return d.substring(a.length,d.length)}return null};\r\nthis.set=function(a,c){var b=\"\",b=new Date;b.setTime(b.getTime()+6048E5);b=\"; expires=\"+b.toGMTString();document.cookie=a+\"=\"+c+b+\"; path=/; \"};\r\nthis.check=function(){var a=this.get(f);if(a)a=a.split(\":\");else if(100!=e)\"v\"==h&&(e=Math.random()>=e/100?0:100),a=[h,e,0],this.set(f,a.join(\":\"));else return!0;var c=a[1];if(100==c)return!0;switch(a[0]){case \"v\":return!1;case \"r\":return c=a[2]%Math.floor(100/c),a[2]++,this.set(f,a.join(\":\")),!c}return!0};\r\nthis.go=function(){if(this.check()){var 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General Personal Finance Articles

Level up your savings plan, make money apprentices out of your kids, avoid the scammers lurking in the shadows, and generally become a money whiz.

Articles From General Personal Finance

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General Personal Finance How to Avoid a Shady Financial Planner for Your Personal Finances

Article / Updated 08-16-2022

The channel through which you hear of a financial planner may provide clues to the planner’s integrity and way of doing business. Beware of planners you find (or who find you) through these avenues: Cold calling: You’ve just come home after a hard day. No sooner have you sat down to dinner when the phone rings. It’s Joe the financial planner, and he wants to help you achieve all your financial dreams. Cold calling (whereby the salesperson calls you, without an appointment) is the most inefficient way for a planner to get new clients. Cold calling is intrusive, and it’s typically used by aggressive salespeople who work on commission. Keep a log beside your telephone. Record the date, time, name of the organization, and name of the caller every time you receive a cold call. Politely but firmly tell cold callers to never call you again. Then, if they do call you again, you can collect $500 in small claims court! Adult education classes: Here’s what often happens at the adult education classes that are offered at local universities: You pay a reasonable fee for the course. You go to class giddy at the prospect of learning how to manage your finances. And then the instructor ends up being a broker or financial planner hungry for clients. He confuses more than he conveys. He’s short on specifics. But he’s more than happy to show you the way if you contact (and hire) him outside of class. The instructors for these courses are paid to teach. They don’t need to solicit clients in class, and, in fact, it’s unethical for them to do so. Part of the problem is that some universities take advantage of the fact that such “teachers” want to solicit business, setting the pay at a low level. So never assume that someone who is teaching a financial-planning course at a local college is ethical, competent, or looking out for your best interests. Ethical instructors who are there to teach do not solicit clients. In fact, they may actively discourage students from hiring them. Smart universities pay their instructors well and weed out those who are more interested in building their client base than they are in teaching. “Free” seminars: This is a case of “you get what you pay for.” Because you don’t pay a fee to attend “free seminars” and the “teachers” don’t get paid either, these events tend to be clear-cut sales pitches. The “instructor” may share some information, but smart seminar leaders know that the goal of a successful seminar is to establish themselves as experts and to whet the prospects’ appetites. Be wary of seminars targeted at select groups, such as special seminars for people who have received retirement-plan distributions or seminars touting “Financial Planning for Women.” Financial planning is not specific to gender, ethnicity, or marital status. Don’t assume that the financial planner giving a presentation at your employer’s office is the right planner for you, either. You may be surprised at how little some corporate benefits departments investigate the people they let in. In most cases, planners are accepted simply because they don’t charge. Copyright © 2016 Eric Tyson. All rights reserved

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General Personal Finance 2 Ways to Get Answers to Your Medicare Questions after 50

Article / Updated 08-16-2022

When you're financial planning after 50, you may be faced with lots of Medicare questions. Medicare is administered and enforced by the federal Centers for Medicare and Medicaid. Chances are you have questions about Medicare, and finding answers can be a challenge, especially if you don’t know where to look. Here is some advice: Through the Medicare office: You can ask questions and order publications by calling 800-MEDICARE (800-633-4227). You can also find a wealth of information at the website medicare.gov. Two of the best sources of information are the publications Medicare and You and Guide to Health Insurance for People with Medicare. You can download these, and other publications, free from the site; you can also order free copies by calling the toll-free number. Through your state Office of Aging (or its equivalent): States also offer help and information about Medicare. Each state has an Office on Aging, which offers free counseling, seminars, and literature. Most state agencies regulating health insurers publish a booklet listing the premiums charged on policies by different insurers in the state and offer this information on their websites. A state’s corporation commission or insurance department usually is the appropriate agency to contact. The agencies also should have information on the financial condition of insurers selling policies in the state. Copyright © 2016 Eric Tyson and Bob Carlson. All rights reserved

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General Personal Finance Personal Finance in Your 20s and 30s: Online Resources to Find Service Providers

Article / Updated 05-17-2022

Finding quality, affordable professional service providers can be a challenge. As can finding the myriad other service providers you may seek, such as an auto repair shop or a plumber. All of us have the battle scars from the school of hard knocks and making bad hiring decisions. Getting referrals from folks you know often doesn't pan out — and for good reason. Just because your friend or neighbor has had good experiences with a given contractor doesn't mean you will or that you value the same things in a provider. The Internet has long held the promise of being an information source and exchange for consumers interested in hearing the straight scoop about service providers, but message boards rarely have a critical mass of comments about locally focused companies. Firms such as Kudzu, which is owned by media conglomerate Cox Enterprises, provides consumers free reviews on companies, but here's a case where you may well get less than you paid for. Anyone can complete a simple registration by providing an email address, name, and zip code, and many service providers have just one or a few reviews. Due to the anonymity of the reviews and lack of screening, company owners, employees, and friends can easily post puffed-up reviews while competitors can easily criticize their peers. After reviewing numerous websites that purport to help consumers separate the best service providers from the rest, the sections that follow highlight those that I've found are doing the best job. On some ratings sites, companies are solicited to buy enhanced listings, and this disguised advertising may make them more appealing to prospective customers. For example, Kudzu's "Enhanced Profile" service promises the paying company "Higher placement in search" as well as the ability to add photos and video and a marketing description. Angie's List Angie's List subscribers get access to data and customer feedback on a wide range of service providers in their local market area. The service boasts more than 3 million members in hundreds of markets around the United States. Angie's List, which began operations in 1995, uses proprietary technology to process reports, and one of a team of thirty people employed by Angie's List reads every report before it gets posted. Reports praising your own business or dissing a competitor's are ferreted out and removed. As happens on eBay, customers and businesses can respond to one another. When Angie's List receives a report on an unregistered company, that company is allowed to register for free. By registering, the company can then respond by posting to each customer's report. Consumers may not report anonymously, but their identity is only disclosed to the companies they rate. Angie's List also offers conflict resolution when a customer and company are at odds over their interaction. Angie's List says that they have a "zero-tolerance policy" about companies hassling a customer over the posting of negative comments. The report is posted live for all members to see, which obviously offers an incentive for the service company to resolve the issue quickly. If the service company resolves the complaint to the customer's satisfaction, the dispute is considered "resolved" and the negative report is removed from the service company's record. That's the leverage Angie's List uses to get complaints resolved. The member can then choose to file a new report, but if they do, they must grade the company at a B or above. However, the member is not obligated to file another report. Co-founder Angie Hicks never really considered the advertising-only model so often used online when she started her company. "We offer a premium service with high-quality information. Consumers are willing to pay for good information. Consumers are looking for trusted filters," says Hicks. Angie's List has not totally forsaken ads. The company offers coupons from highly rated service companies. Companies pay to run coupons and must have an A or B rating. Like a school report card, grades range from A (best) to F (worst). If a company has any unresolved complaints, it can't advertise, regardless of its overall grade. (Note: At the time that this book goes to press in late 2017, Angie's List may merge into the parent company that owns HomeAdvisor.) HomeAdvisor HomeAdvisor (formerly Service Magic), another large online provider of service-company referrals, doesn't rely on member subscriptions. With HomeAdvisor, you register for free and provide personal information, including your home address and details of what you're looking for, and several companies, which have paid HomeAdvisor an annual membership (advertising) fee of about $300, will contact you offering their services. Home-Advisor argues that such fees weed out people who may be operating as a sideline or on a short-term basis and lead to higher-quality, committed contractors being listed on their site. HomeAdvisor, which is focused on home improvement, repair, and maintenance firms, also has a ratings and review feature where customers can rate the company. To prevent bogus reviews, HomeAdvisor only allows consumers who have found contractors through their service to rate and evaluate those contractors. Here's how their service works: Suppose you're seeking a contractor to build you a wooden deck. After completing background information on the HomeAdvisor site about your planned project, your information would be sent to three contractors in your area who would contact you, arrange a meeting to discuss your project, and give you a proposal (with some contractors, you can actually schedule these appointments through the HomeAdvisor site). Unlike other services, including Angie's List, HomeAdvisor screens all contractors, who must meet numerous criteria including being properly licensed within their state, carrying general liability insurance coverage, and passing a criminal and financial background check (which uncovers negatives such as liens, bankruptcies, and judgments), among other items. In addition to paying HomeAdvisor an annual membership fee of $300, contractors pay HomeAdvisor a lead fee, depending upon the type of work and ranging from $10 to $50, for each lead they are sent. HomeAdvisor's model allows contractors to target clients by zip code and task, which allows them to be more focused in their prospecting and spend less time driving long distances. Other resources Another resource worth checking out is Consumers Checkbook, which compiles service-provider data in the following metro areas: Boston, Chicago, Delaware Valley (Philadelphia area), Puget Sound (Seattle area), San Francisco/Oakland/San Jose, Twin Cities, and Washington, D.C. Checkbook is a nonprofit founded in 1974. Like Consumer Reports, it doesn't accept any advertising or money from companies it reviews. In addition to its website, it publishes Consumer's Checkbook magazine in seven local versions for each of the metro areas. Another option for checking out service providers is to access the Better Business Bureau (BBB) website in your area, which you can locate through their national site. BBB information, which is available without a fee to you the consumer, may tell you if the company you're considering has any recent black marks but will hardly give you a thorough review of many customers' experiences like those you will find on sites like HomeAdvisor or Angie's List. BBBs are non-profits that collect fees from member companies. Thus, they have similar conflicts of interest that Angie's List and Home Advisor have in being "pro" business.

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General Personal Finance Managing Your Money All-In-One For Dummies Cheat Sheet

Cheat Sheet / Updated 05-13-2022

Managing your money is crucial at all stages of your adult life — whether you’re interviewing for your first job, in the thick of your prime earning years, or enjoying your retirement. Some crucial aspects of managing your finances include taking stock of your finances, using a budget, building your savings, and investing your money.

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General Personal Finance How to Ease Financial Uncertainty

Article / Updated 05-12-2022

Life can throw you some financial curveballs, but you don't have to be at the mercy of financial markets even if you're not able to control them. To protect against financial uncertainties, use the following strategies: Plan for life's certainties and prepare for life's uncertainties. Invest in and protect your ability to earn money; it's likely your most valuable asset. Adequately insure yourself, your stuff, and your income stream. Minimize or eliminate debt, and focus on building a great credit score. Maintain an emergency reserve fund. Invest for your goals, time horizon, and risk tolerance. Diversify your portfolio across a broad mix of asset classes. Monitor and rebalance your portfolio to maintain your target asset allocation.

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General Personal Finance Personal Finance After 50 For Dummies Cheat Sheet

Cheat Sheet / Updated 04-05-2022

You work hard for your money, and you should get to use your savings in your later years. In order to enjoy an enjoyable and stress-free retirement, you need to make the most of your finances and retirement planning. You can get on the right track by determining the appropriate age to retire, becoming familiar with Medicare, and understanding your pension and how it’s protected. © 2021 Eric Tyson and Bob Carlson. All rights reserved.

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General Personal Finance Personal Finance in Your 20s and 30s For Dummies Cheat Sheet

Cheat Sheet / Updated 03-10-2022

Everyone needs to know how to manage their money. Having that knowledge and know-how early in your life pays bigger dividends over the decades of your adult life. And everyone makes mistakes, so Personal Finance in Your 20s and 30s For Dummies can help you minimize bad decisions and maximize good ones.

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General Personal Finance Personal Finance Workbook For Dummies Cheat Sheet

Cheat Sheet / Updated 03-08-2022

Getting a handle on your personal finances can be tough. We’re constantly being urged to spend, spend, spend, while others encourage us to save, save, save! The good news is that you can create a healthy balance between the two. When you understand your personal financial situation, you can make smart decisions about what to do with your money.

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General Personal Finance Personal Finance For Canadians For Dummies Cheat Sheet

Cheat Sheet / Updated 02-28-2022

If you’re searching for some helpful advice on how to manage your personal finances, congratulations! You’ve found it! If you’re like most Canadians, words like debt, RRSP, and credit score aren’t music to your ears. But no matter how much money you have, or how much you know about personal finance, there are many ways you can take charge of your money to improve your financial health. The following articles show you how, offering tips to help you tackle debt, understand RRSPs, and improve your credit score.

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General Personal Finance How to Balance a Checkbook

Article / Updated 12-21-2021

When you use a checkbook, you need to know basic addition and subtraction to keep it balanced. Balancing a checkbook means you've recorded all additions (deposits) made to your account and subtractions (withdrawals). Each deposit and withdrawal is called a transaction. The purpose for balancing a checkbook is to know how much actual money you have in your checking account at any given time. What's a checkbook register? Step one in balancing your checkbook is to mark down all transactions in your register, which comes with your checkbook. The register is a little booklet where you write down each transaction (check, ATM withdrawal, debit card payment, or deposit.) Your register probably will have at least six columns: Number: The check number. Date: The date you made the transaction. Description: To whom the check was written, or if you made an ATM withdrawal, or used your debit card. Amount or debit: The exact sum of the check, withdrawal or payment. Deposit: This is where you mark down any deposits such as paychecks, money gifts (from a super-wealthy relative, perhaps?), money you may have transferred from a savings account into your checking account, and so on. Balance: The actual amount of money that's in your account. You start with an opening balance (the amount of money you had when you opened the checking account). And then, by subtracting all checks, withdrawals, payments, and bank fees, and by adding any deposits or interest payments, you will arrive at your balance for that day. Checkbook no-no: A bounced check The lower your balance, the more important it is for you to be precise in recording all transactions; in so doing, you avoid bouncing a check. A bounced check is a check that the bank has returned (bounced back) to you because it's worthless; that is, the check is for an amount greater than the actual amount of money you have left in your account. For example, if you send the phone company a check for $100 but your actual balance is only $75, then that check will bounce. When the phone company presents that check to your bank for payment, it will get a notice that your account has insufficient funds. Your bank will charge you a fee, in the range of $25 to $50 (this is a fee that you should ask about when opening an account) and the other party's bank will charge them a fee, as well. So bouncing a check is not only embarrassing, it can be quite costly. Protect yourself against ever bouncing a check by having overdraft protection; ask your bank if it offers this service. The bank will then honor your bounced checks, but start charging you interest, usually at a high rate, from day one. To avoid bouncing a check, you need to know how much money is in your account, which you do by balancing your checkbook. (Going online or to an ATM to check your balance will not give you an accurate number if you have any outstanding checks, that is to say checks you've written that have not yet been presented to the bank for payment.) The most common mistakes when keeping a checkbook The most common mistakes when keeping a checkbook is forgetting to record each transaction, and forgetting to record it at the time it happens. Yes, your monthly bank statement will give you information on checks you've written, or an ATM withdrawal, or a debit card payment — but by the time your statement comes in, you could have written several more checks that remain outstanding. If you always keep more money in your account than you spend every month, you'll be safe. But if your balance is usually low by the end of the month the more careful you have to be in making sure you know how much money you actually have. To avoid making mathematical errors, buy a register cover with a built in calculator. Some even keep track of your balance for you, provided you enter all transactions. When your statement comes in, you should compare it to your register, fixing any mistakes, such as those times you took cash from an ATM and didn't record it when you got home. Of course, you can also just believe the bank and adjust the balance in your register to agree with the bank's closing balance on the closing date, which you can also do at any time by checking on line or at an ATM. But remember, your actual balance may be less than what the bank says if you have outstanding checks.

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