Personal Finance

If you're one of the holdouts still paying bills with checks, tracking your accounts with pen and paper or clipping coupons from the newspaper, 2012 could be the year you take the digital plunge. A host of budding personal finance services and applications are poised to go mainstream in the new year, and together, they will likely have a big impact on the way Americans bank, shop, and track their finances. Some of the services are web-based, but many take advantage of the proliferation of smartphones, which are now carried by one-third of U.S. adults — with more likely to join that...

I finally did it. I cleaned out my closet. It felt so good to get rid of clothes I haven't worn in years. It took much longer than I expected, mostly because I just couldn't let go of so many things. And isn't this much the way many of us handle our personal finances? We cling to old financial behaviors or we put off cleaning up our financial lives because it's easier than doing the work it takes to get rid of stuff. Here are my five tips to get you started on spring cleaning your finances: 1. Get rid of at least one bad financial behavior.

NEW YORK — If you had hoped to do a midyear checkup on your personal finances, there’s still time to make sure you’re ready for the rest of the year. Here are five places to start: 1. Spending — Take a look at your spending plan from the beginning of the year and compare your cash flow for the first six months. Did you allocate enough to cover expenses, or are you falling behind in certain areas? Or did you skip the important step of budgeting to begin with? “Solid financial planning starts with a having a budget,’’ said Paul...

The story about Waltham High School's Student Santa program prompted several readers to contact me about the importance of teaching kids guidelines for personal financial management. In particular, many spoke about how the teenage years are a critical time for practicing money management skills, before graduation and "real life" start to set in. Personal finance isn't often part of the school curriculum these days. If you're a parent of a teen looking for some tips on how to teach your child smart money habits, here are a few ideas from Robbie and Julie Hyman,...

NEW YORK - Banks are scrambling to beef up their websites by adding pie charts, budget calculators, and other gizmos designed to help people manage their money. The effort is aimed at rebuilding relationships with consumers still angry at the financial industry’s role in the economic meltdown. Banks want these tools to help customers get a better picture of their financial health by organizing scattered accounts, credit cards, and investments. The thinking is that customers who feel more in control of their finances will see their bank in a better light, and turn there...

AUGUSTA, Maine -- Lawmakers say Mainers, and especially younger people who get easy access to credit cards, need better money-management skills. And they're putting up money to see that more financial advice will be offered. The Legislature has passed a bill to create a Council on Financial Literacy, which will support programs that educate Maine residents about money management. It also provides up to $50,000 for matching grants to fund those programs. Representative Marilyn Canavan, who sponsored the bill, said it will help ensure that Maine students learn...

The story about Waltham High School's Student Santa program prompted several readers to contact me about the importance of teaching kids guidelines for personal financial management. In particular, many spoke about how the teenage years are a critical time for practicing money management skills, before graduation and "real life" start to set in. Personal finance isn't often part of the school curriculum these days. If you're a parent of a teen looking for some tips on how to teach your child smart money habits, here are a few ideas from Robbie and...

CHICAGO - Exercise more, stop smoking, lose weight - all are excellent ideas for 2009 for those who need to prod themselves in those areas. But instead of making the traditional New Year's effort to shed 15 pounds, usually in vain, how about aiming to trim your spending by 15 percent? It's a worthy goal for anyone, but perhaps particularly for those nearing retirement age. With fewer years to let their investments recover from the biggest stock market decline in decades, "the money saved can be used to pay off debt and increase retirement savings," said...

It's Facebook's big day. The site, which was born in a dorm room eight years ago and has grown into a worldwide network of almost a billion people, is making the most talked-about stock market debut in years. Here's some of what Associated Press reporters are finding. Check back all day for updates. All times EDT. –– 1:47 p.m. UPDATE ON SOCIAL MEDIA STOCKS Facebook stock is trading at about $41.25, a healthy gain of more than $3, but it appears to be disappointing investors in other social media companies, especially those with ties to...

CHICAGO — Just as President Obama took a reassuring tone in the State of the Union address, there are reasons for optimism when it comes to our personal finances. The stock market has come back, companies are starting to hire again, and economists are increasingly upbeat about the future. But unemployment remains stuck at more than 9 percent, home prices are falling, and the pace of foreclosures is accelerating. One positive dividend from the hard times: Many have learned to be more conservative in their money habits.

If you're one of the holdouts still paying bills with checks, tracking your accounts with pen and paper or clipping coupons from the newspaper, 2012 could be the year you take the digital plunge. A host of budding personal finance services and applications are poised to go mainstream in the new year, and together, they will likely have a big impact on the way Americans bank, shop, and track their finances. Some of the services are web-based, but many take advantage of the proliferation of smartphones, which are now carried by one-third of U.S. adults — with more likely to join that...

CHICAGO — Just as President Obama took a reassuring tone in the State of the Union address, there are reasons for optimism when it comes to our personal finances. The stock market has come back, companies are starting to hire again, and economists are increasingly upbeat about the future. But unemployment remains stuck at more than 9 percent, home prices are falling, and the pace of foreclosures is accelerating. One positive dividend from the hard times: Many have learned to be more conservative in their...

Laura Wellington was left in the financial dark when her husband, Dean, died in 2002. At age 35, Wellington was a widow with four children; a boy, 9, and three girls aged 3 through 7. She also became the head of her husband’s two small businesses. Like many couples, before her husband’s death, she took care of day-to-day household expenses, and he handled bigger money issues like insurance and investing. When he was gone, the Ridgewood, N.J., mom had to make sense of everything on her own. It’s not just older...

NEW YORK — If you had hoped to do a midyear checkup on your personal finances, there’s still time to make sure you’re ready for the rest of the year. Here are five places to start: 1. Spending — Take a look at your spending plan from the beginning of the year and compare your cash flow for the first six months. Did you allocate enough to cover expenses, or are you falling behind in certain areas? Or did you skip the important step of budgeting to begin with? “Solid financial planning starts with...

NEW YORK - Banks are scrambling to beef up their websites by adding pie charts, budget calculators, and other gizmos designed to help people manage their money. The effort is aimed at rebuilding relationships with consumers still angry at the financial industry’s role in the economic meltdown. Banks want these tools to help customers get a better picture of their financial health by organizing scattered accounts, credit cards, and investments. The thinking is that customers who feel more in control of their finances will see their bank...

CHICAGO - Exercise more, stop smoking, lose weight - all are excellent ideas for 2009 for those who need to prod themselves in those areas. But instead of making the traditional New Year's effort to shed 15 pounds, usually in vain, how about aiming to trim your spending by 15 percent? It's a worthy goal for anyone, but perhaps particularly for those nearing retirement age. With fewer years to let their investments recover from the biggest stock market decline in decades, "the money saved can be used to pay off debt and increase retirement savings,"...

I finally did it. I cleaned out my closet. It felt so good to get rid of clothes I haven't worn in years. It took much longer than I expected, mostly because I just couldn't let go of so many things. And isn't this much the way many of us handle our personal finances? We cling to old financial behaviors or we put off cleaning up our financial lives because it's easier than doing the work it takes to get rid of stuff. Here are my five tips to get you started on spring cleaning your finances: 1. Get rid of at least one bad financial behavior.

Laura Wellington was left in the financial dark when her husband, Dean, died in 2002. At age 35, Wellington was a widow with four children; a boy, 9, and three girls aged 3 through 7. She also became the head of her husband’s two small businesses. Like many couples, before her husband’s death, she took care of day-to-day household expenses, and he handled bigger money issues like insurance and investing. When he was gone, the Ridgewood, N.J., mom had to make sense of everything on her own. It’s not just older women who leave the big money...

AUGUSTA, Maine -- Lawmakers say Mainers, and especially younger people who get easy access to credit cards, need better money-management skills. And they're putting up money to see that more financial advice will be offered. The Legislature has passed a bill to create a Council on Financial Literacy, which will support programs that educate Maine residents about money management. It also provides up to $50,000 for matching grants to fund those programs. Representative Marilyn Canavan, who sponsored the bill, said it will help ensure that Maine students learn financial responsibility in an era of...