Beverly has written and edited hundreds of articles for numerous well-known personal finance and legal websites, including GOBankingRates, PocketSense, Zack’s, Autoblog, LegalZoom, The Nest, and more. Her work has also been reprinted in the Chicago Tribune and quoted on Reader’s Digest. Before putting her expertise to use in articles, Beverly worked as a paralegal working under a bankruptcy attorney, an estate attorney, a tax attorney, and a family law attorney....

The move will affect “hundreds of thousands” of people, including cleaners, maintenance workers, nursing assistants, cafeteria workers, and others who work at federal facilities, the White House said in a statement Tuesday. The Biden administration said the new minimum wage, which will automatically rise with inflation every year, would need to be incorporated into all new contract solicitations starting Jan. 30, 2022, and implemented by all agencies in new contracts by March 30....

CDs tend to be safer than bonds because they’re insured by the Federal Deposit Insurance Corp. (FDIC). On the other hand, bonds are slightly riskier but offer slightly higher returns. You can also sell most bonds to other investors if you need to cash out your investment early. With a CD from your local bank, you typically can’t cash out early without paying a penalty fee. Read more to find out about the major similarities and differences between bonds and CDs as well as how they can fit into your portfolio....

David Sacks / The Balance Learn how long it will take to buy a house after a short sale or foreclosure. What Are the Waiting Periods? A conventional loan is a loan that’s not part of a government program. For instance, FHA loans aren’t conventional mortgages; that’s because they’re guaranteed by the Federal Housing Administration. Many conventional loans are backed by Freddie Mac or Fannie Mae. The waiting period will depend on which one you used, as well as other circumstances....

Why Some Collection Accounts Don’t Show on Your Credit Report Just because a debt isn’t on your credit report doesn’t mean it’s not legitimate. A debt may not show up on your credit report for any of these reasons. The Credit Reporting Time Limit Has Passed Most debts can be listed on your credit report for seven years. After that, credit bureaus remove these old debts from your credit report. In some cases, collectors can still attempt to collect old debts that have dropped off your credit report....

Some industry watchers believe that more female crypto investors will have an impact that far exceeds the gains to their wallets. “It’s going to lead to wealth creation that we can use to do good things with,” Elaine Asher, director, Corporate Treasury at Anchorage Digital, said while speaking on “To Bitcoin, or Not to Bitcoin? A Panel for the Crypto-curious,” at the 2021 Finance Festival. The virtual event, hosted by Ladies Get Paid and Public....

Some people think that the short sale option is limited only to a personal residence. They probably assume this because there is a lot of hoopla from certain types of lenders over whether a person occupies the home or does not occupy the home, but that has little to do with most short sales. Even the guidelines for (now ceased) HAFA short sale since February of 2011 allowed a vacant personal residence to be considered as long the home hasn’t been sitting empty for 12 months or more....

Some employers go a step farther: they ask not only how much money you’d like to make, but how much you’ve earned in the past. Can employers really get away with asking for your salary history—and what happens if you don’t want to give it to them? The answer is: it depends. Learn when the hiring manager can ask you about salary history and how to deal with the question if it comes up....

What Happens During a Bond Market Crash? When the bond market crashes, bond prices plummet quickly, just as stock prices fall dramatically during a stock market crash. Bond market crashes are often triggered by rising interest rates. Bonds are loans from investors to the bond issuer in exchange for interest earned. When the Federal Reserve increases interest rates, bond prices typically fall in the short term. Investors look at a bond’s interest payments, known as a bond coupon, to determine how much they’re willing to pay for the bond....

If you’re in good health, you can usually find cheaper coverage with policies that require a medical exam, but no-medical-exam insurance is an option if you want a small policy or can’t otherwise qualify for life insurance. Here’s what you should know. What Is No-Medical-Exam Life Insurance? No-medical-exam life insurance refers to a life insurance policy that doesn’t require you to undergo a medical exam to get coverage. Traditional life insurance policies, on the other hand, do require a medical exam as part of their underwriting process....

Unemployment When You Quit Your Job Unemployment benefits are intended to bridge the gap between one job and the next, providing workers with monetary payments until they find a new job—or at least, for a period of time determined by the state they live in. These benefits are intended for workers who suffer an unexpected loss in income due to layoffs, or in some cases, due to being fired. In most cases, if you quit voluntarily, you are not eligible for these benefits....

The short answer is: You can’t. Unless you’re inheriting the IRA from your deceased spouse, you aren’t able to convert an inherited IRA into a Roth IRA. But that doesn’t mean you’re out of options. Read on to learn what they are, or how you can convert the IRA if you are a spouse. Can You Convert an Inherited IRA to a Roth IRA? If you’re inheriting an IRA from someone who was not your spouse, you generally won’t be able to convert it into a Roth IRA....

The myth comes from a comment left on a credit forum. “Don’t Pay Them a DIME!” is the post title. “If the original creditor sold your debt to a collection agency, they also wrote off your debt on their taxes…” this much is correct. Creditors charge off accounts after they become severely past due. “…which also wrote off your obligation to pay.” This is where the advice goes wrong. The post advises people to dispute collections, which is a right you have under the Fair Credit Reporting Act....

Importance of Cash Flow Management One of the most common reasons cited as why businesses fail is poor cash flow management. If your business constantly spends more than it earns, you have a cash flow problem. For small businesses, the most important aspect of cash flow management is avoiding extended cash shortages, caused by an overly large gap between cash inflows and outflows. You won’t be able to stay in business if you can’t pay your bills for an extended period of time....

There may come a point when it makes sense to have additional help figuring out the best way to file your taxes, for example. Then you’ll need an accountant. You may also need someone to help you manage your money, plan your investments, or assist with a sizeable inheritance. Then you’d need a financial planner. To understand the difference, it helps to know the primary services each kind of adviser offers....

Types of College Savings Accounts First of all, it’s important to understand the types of college savings accounts available. Each type of plan comes with its own advantages and disadvantages. 529 prepaid tuition plan 529 education savings Coverdell ESA Custodial accounts As you consider your options, keep in mind that you might find one of these accounts better for your situation than others. It’s also worth noting that you don’t have to limit yourself to one type of account....

Personal loans are available from a range of lenders, including banks, credit unions, online lenders, and peer-to-peer platforms. Consider the different types of personal loan lenders and weigh their pros and cons to decide which is best for you. Personal Loans From a Bank Many big banks offer personal loans, including Wells Fargo, TD Bank, and PNC. Smaller, local banks may also offer personal loans. Pros of Personal Loans From Banks Streamline banking: If you already have an account at a bank that offers personal loans, you can keep all your banking services under one roof....

What Is an Appraisal? An appraisal is an opinion on the value of a property, but it’s not as random as that might sound. It’s based on certain points that may be determined by state law. The appraiser should state in the report the process that was used to decide the home’s worth. Appraisers must be licensed or certified by the state in which they work. Each state has an appraisal board, and the person must pass an exam given by the board to receive a license....

How Did the Wrong Account Get on Your Credit Report? Sometimes a human error is to blame for the wrong accounts showing up on your credit report. Someone may have transposed the numbers in your Social Security number, or there may be someone with a similar name whose credit profile got mixed up with yours. Other times, these accounts are the result of fraud or identity theft; someone may have intentionally opened a credit card account in your name....

Promissory Notes and Mortgages Deficiency judgments stem from the fact the borrower defaulted on a promissory note, not the mortgage. A promissory note is a promise to pay. It can also create personal liability, depending on state laws. Personal liability means the lender can go after the borrower’s assets for failure to pay a loan. A promissory note is secured by either a trust deed or a mortgage, depending on the financing instrument....