Liz Pulliam Weston

Money Talk


Recent Columns:
Dear Liz: I am in my 40s. My wife and I have great jobs that pay well, but at times it seems as though we can't get ahead. With income in the $170,000 range, you'd think it would be easy. But with children, retirement, vacations, it's not. Any insights?

November 16, 2008

November 9, 2008
Dear Liz: Over the last year, I have been trying to identify and pay off old debts by getting copies of my credit reports. I've been attacking these old bills one at a time while also sending in extra payments to bring down my credit card balances so that only 10% to 20% of the credit limits are being used. How long will it take before I see my credit score start to go up?

October 26, 2008
Dear Readers: As the economy deteriorates, more of you are submitting questions about debt and its effect on your finances. Today's column is devoted to providing answers on this topic.

October 19, 2008
Dear Liz: I have a 403(b) retirement account at one of the financial firms that nearly failed but that found a last-minute buyer. That made me wonder what would happen to my retirement money if the company had failed. My money is all in a money-market fund.

October 12, 2008
Dear Liz: My wife and I have two young children, a mortgage and two financed cars. We also have more than $100,000 of debt, mostly on credit cards that are in my wife's name. Our savings are gone. I have never been in this situation before. I am self-employed and bring home about $6,000 a month. My wife doesn't work. Personally, I don't think I will ever pay off this debt, and I don't know if I should call a financial advisor or a lawyer. What do you think of my situation?

October 5, 2008
Dear Liz: Last I looked I had a credit score of 680. I think it should be better as I haven't even missed a payment in well over seven years.

September 21, 2008
Dear Liz: I need help. I'm a 42-year-old woman with serious medical problems and $5,000 in credit card debt. My only income right now is $668.25 a month in Supplemental Security Income. My daughter recently turned 18, which means we lost her Social Security allowance of $720 a month. I recently had to apply for food stamps. I was in a debt consolidation program to pay off my credit card debt, but now I can't pay. I want to work but I'm too ill, and I don't want to file for bankruptcy. I feel that I should pay my debt, but how?

September 14, 2008
Dear Liz: I've incurred roughly $56,000 in student loan debt. The federal loans were consolidated at a rate of 4.75% a few years ago. The rest are private loans and have higher, variable interest rates. I've heard that some people have been able to transfer their student loan debt to a very-low-interest credit card (say about 1% or 2%) and paid it off ahead of schedule this way. Is this a smart move for the private loans? If so, how would I find such an offer? (Perhaps through a credit union?)

September 7, 2008
Dear Liz: My husband and I just inherited about $700,000 in a brokerage account. About $300,000 is in municipal bonds. The rest is in various mutual funds with some cash, corporate bonds and other, "alternative" investments. In addition to the inheritance we have $400,000 in IRAs and SEP IRAs, as well as equity in our home. We are both semi-retired consultants who intend to keep working for at least five to 10 years.