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Straight talk from the money editor
With the summer home-buying season in full swing, there's something many purchasers often overlook — beyond the previous owners' ugly wallpaper: hidden costs. These underestimated items — such as utility costs, yard care and more — can sink a budget. In fact nearly 4 in 10 first-time buyers exceeded their budget, reports real estate website Zillow. To avoid making a purchase you'll regret, make sure to include property taxes, insurance and maintenance in your plans. For seasoned homeowners, an equity line of credit on your house is worth considering. It's like a cash insurance policy, giving you financial flexibility when and should you need it. It can cover all sorts of unforeseen expenses, such as medical emergencies, replacing that refrigerator on its last legs or to tide you over in the event of a lost job. In last week's poll we asked readers, "How do you manage your money?" A whopping 81 percent said: "I have my money handled, and I'm ready to invest more intentionally." Kudos to you. The other 19 percent have some work to do, saying they were either overwhelmed, not saving enough for the future or their budget isn't working. To get back on track, keep up with Your Wealth each week for the best stories on money management, investing and securing your retirement. Follow me on Twitter @jimpavia. |
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The $9,000 tab that surprises homeowners
Maintenance, property taxes and other expenses can add thousands to your costs of ownership, according to Zillow. Here's how to budget for them. |
The benefits of a home-equity line of credit
A home-equity line of credit adds another level of financial security for the future and is best considered while you're in a healthy financial position. |
4 money must-dos if you want basic financial security
With regard to financial safety, there are some missteps that can cause long-term problems. Here's what really matters when it comes to financial security. |
Top 10 schools for financial aid
As student loan debt hits record levels, maximizing aid in the form of scholarships and grants, which does not have to be paid back, is critical. |
7 retirement-planning mistakes to avoid
Many savers never learn about fundamental retirement-planning steps until they've already made one of these seven common mistakes. |
States boost retirement savings efforts as feds back out
New options that provide access to individual retirement accounts are appearing around the country. |
5 critical questions to ask a financial advisor
To protect yourself and your retirement, it's important to understand the advice you're getting when you meet with a financial advisor. |
If everyone is a robo-advisor then no one is a robo-advisor
"The two main standalone robo-advisors, Wealthfront and Betterment, are flush with human talent – ... even on the client-facing side ... " |
 | Sharon Epperson | |  | Josh Brown | |
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