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One money move at a time, short enough to read in two minutes. Pick one and act on it today.
When a debt collector contacts you, don’t pay or agree that the debt is yours. Read the validation notice, then dispute the debt in writing before the end date it lists. A dispute in that window makes the collector stop collecting until it sends you verification.
When your bills come due before the paycheck that covers them, ask to move the due dates. Most card issuers let you pick a new date online, and many lenders and utilities will do the same. Set each bill to land after the payday that covers it, and the late fees and overdrafts stop.
Interest on a Treasury bill (T-bill) is free of state and local income tax, but savings account interest isn’t. Multiply your savings account’s rate by one minus your state and local tax rate. If a T-bill yields more than that, it’s the better place for cash you won’t need for a few months.
Your landlord’s insurance covers the building, not anything you own inside it. Renters insurance does, and adds liability coverage plus the extra cost of a place to stay if a fire or burst pipe forces you out, for about $15 a month on average. Get a quote this week, starting with your car insurer if you have one.
If you were eligible for a health savings account (HSA) last year and didn’t reach the contribution limit, you can still contribute for last year until the tax filing deadline, usually April 15. Tell your HSA provider the deposit is a prior-year contribution, then claim the deduction on last year’s return, even if you don’t itemize.
A short college fund has backups like student loans, scholarships, and cheaper schools, while a short retirement fund leaves you working longer or living on less. Fund your own retirement first, starting with every dollar of your employer’s match, and put money toward college only after your retirement savings are on track.
Check your homeowners or renters insurance declarations page to see whether your house and belongings are covered at replacement cost or actual cash value. Replacement cost pays today’s price to rebuild or rebuy, if your coverage limits are high enough. Actual cash value deducts wear and age first, so wherever you find it, ask your agent to quote the upgrade.
A friendly text meant for someone else is a common opening for crypto investment scams, and a polite reply is exactly what the scammer wants. Don’t answer, even to say it’s the wrong number. If someone you met by text ever brings up investing, stop replying and never invest where they tell you to.
The American Opportunity Tax Credit pays up to $2,500 a year per college student, but it can’t count any expense your 529 plan already covered tax-free. If your income qualifies, pay $4,000 of tuition, fees, and course materials from other money, student loans included, and let the 529 handle the rest, such as room and board.
A credit card cash advance is the costliest way to use your card. You pay a fee up front, usually 5%, and interest builds from day one, often at a higher rate than purchases. Money orders and some person-to-person transfers can count too, so keep your credit card out of anything that works like cash.
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