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Author: Susan Tompor, Detroit Free Press

Money

Child tax credit money will be a no show in January; look out for IRS letter instead

January 13, 2022January 14, 2022Susan Tompor, Detroit Free PressComments Off on Child tax credit money will be a no show in January; look out for IRS letter instead

What many families might not realize is that monthly child tax credit payments last year were to represent only half of a family’s estimated credit.

Money

Student loans, child tax credit unknowns could shock budgets in 2022

December 27, 2021Susan Tompor, Detroit Free PressComments Off on Student loans, child tax credit unknowns could shock budgets in 2022

Student loan bills, higher prices for groceries, and uncertainty about the child tax credit all could cut into family budgets in 2022.

Money

How to throw more money at an inflation hedge with this year-end hack

December 26, 2021December 26, 2021Susan Tompor, Detroit Free PressComments Off on How to throw more money at an inflation hedge with this year-end hack

Some savers may want to ‘double-up,’ if you will and buy I Bonds before year end. Inflation-indexed savings bonds gain more interest as prices go up.

Money

Latest child tax credit money arrives Dec. 15. But don’t count on extra cash in 2022.

December 14, 2021December 14, 2021Susan Tompor, Detroit Free PressComments Off on Latest child tax credit money arrives Dec. 15. But don’t count on extra cash in 2022.

The money will stop unless Congress passes President Joe Biden’s Build Back Better package, which is currently stalled in the Senate.

Money

Reshipping scams target job-seekers looking for remote work. Beware of these red flags.

December 11, 2021December 13, 2021Susan Tompor, Detroit Free PressComments Off on Reshipping scams target job-seekers looking for remote work. Beware of these red flags.

Consumer watchdogs are warning of an uptick in jobs scams, such as reshipping scams, as many unemployed workers try to find jobs working from home.

Money

Chase adds tools to help customers avoid overdraft fees – but it’s not eliminating them

December 8, 2021Susan Tompor, Detroit Free PressComments Off on Chase adds tools to help customers avoid overdraft fees – but it’s not eliminating them

Chase, the country’s biggest bank, is revising a series of practices as more political pressure and competition builds relating to overdraft fees.

Money

Tax break for charitable donations packs extra incentive for giving this year

December 8, 2021December 9, 2021Susan Tompor, Detroit Free PressComments Off on Tax break for charitable donations packs extra incentive for giving this year

Thinking about making a charitable contribution? Check out the special tax break for donations made by the end of 2021.

Money

Careful where you click: Tragedies like Michigan’s Oxford school shooting attract scammers

December 6, 2021December 7, 2021Susan Tompor, Detroit Free PressComments Off on Careful where you click: Tragedies like Michigan’s Oxford school shooting attract scammers

Bad actors often use tragedies like the Oxford school shooting to trick consumers into making donations and clicking on bad links.

Money

Midwest faces some of the country’s worst price hikes on gas, electricity, food, cars

November 17, 2021November 17, 2021Susan Tompor, Detroit Free PressComments Off on Midwest faces some of the country’s worst price hikes on gas, electricity, food, cars

The shock effect is worse for consumers in the Midwest and South. The consumer price index jumped 6.6% in October from a year ago in these regions.

Money

I Bond rates can be an inflation hedge: What are they and why should you buy some now?

October 27, 2021Susan Tompor, Detroit Free PressComments Off on I Bond rates can be an inflation hedge: What are they and why should you buy some now?

You’re going to hear more about I Bonds in November when some startling new rates are set to be announced. What are they and how do they work?

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