Financial Planning Blog
I Won My Property Tax Appeal but Lost The Senior Freeze. Now What?
Q. In 2014, I applied for the Senior Freeze and received a payment for my property taxes. In 2016, I had my home reassessed through an attorney because there was a big increase. The court ordered that the Township reduce my property taxes by $980. I was happy, but...
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Will My Credit Freeze Hurt My Credit Report?
Q. I tried to apply for a credit card, but forgot that I put a freeze on my credit reports because my name and Social Security number were compromised by a hack at a major department store. Will this have an adverse effect on my score? -- Credit concerned A. Nope. It...
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Shopping For a Car Can Actually Lower Your Credit Score – Here’s How to Avoid it
Q. I have 26 hard inquiries in my credit report -- ouch! I contacted the credit bureau and 15 of these were for a car loan. I explained to the credit bureau that I only authorized the car dealership to pull my credit. The bureau was unwilling to remove them because I...
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Will 529 College Plan Jeopardize Financial Aid?
Q. My daughter is still in college and is likely to go to grad school. I've been putting money into her 529 plan for many years and making withdrawals for her time in school. My stepson just had his first child, and I'd like to open a 529 for her but I wonder if it...
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How Requests About Your Credit Report Can Hurt Your Score
Q. Are there any way to have hard inquiries removed from my credit report? -- Borrower A. We're glad to see you're paying attention to your credit reports. You want to make sure they're accurate because of the direct effect they have on credit scores, the ability to...
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Filing for Social Security Survivor Benefits
Q. My husband passed away and I was unable to draw on his Social Security benefits because I was under 60 and not disabled. When I turn 60, how much of his Social Security benefits will I be entitled to and how will that affect my future Social Security benefits?—...
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How the Veterans Exemption Works
Q. I was informed by my Army buddies that New Jersey will be reducing my property tax by $3,000 because of my veteran status. Is there any truth to this? As I am already receiving a $250 deduction, will I have to re-apply to receive the larger benefit or will it...
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Best Ways to Gift Cash to Grandchildren
Q. As a holiday present, I'm thinking of opening an IRA for each of my three grandchildren. But they don't have real income yet. Does that mean an IRA is out of the question? What are my options? -- Grandma A. Your grandchildren are fortunate that you would like to...
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5 Resolutions for Managing Money
Do you want to feel as if you've lost 10 pounds? Get your financial life in order. Here are five easy-to-make and easy-to-keep New Year’s resolutions for protecting your wallet. 1 | START GOAL-SPECIFIC PLANS Think about what you want to accomplish in 2018 and how you...
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Car Insurance Rates and Your Credit Score
Q. I was told that your credit score influences your car insurance rate. Is that true? -- Driver A. It is indeed true that your credit score will impact your car insurance rates, but not in the direct way you might imagine. Auto insurers concoct their own scores in...
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