There are a lot of reasons to open an individual retirement account (IRA). If your employer doesn’t offer a retirement plan, offers lousy investment choices, you’ve maxed out your 401(k), or simply want greater control over your retirement savings—an IRA is for you.

Anybody under age 70 ½ who is earning an income can open an IRA. You can choose between a traditional IRA and a Roth IRA. Which one you choose depends on your income and the tax bracket you predict you’ll fall into in retirement. [...]

Stories of credit card companies raising interest rates on just about everybody—even customers with perfect credit, no debt, and no late payments—continue to roll in.

That’s because the CARD Act takes effect this winter and will restrict credit card companies’ ability to raise interest rates on existing customers. If you thought credit card companies were committing usury in the past with APRs of eighteen, or twenty percent; you ain’t seen nothing yet. Cardholders are seeing their rates go as high as 29.9 percent; there’s even a story of man who received a credit card offer at 79.9 percent APR!

How do you know if your card is raising your interest rate? What can you do about it? [...]

At some point during my freshman year of college, I vaguely remember attending a mandatory 45-minute meeting in the financial aid office and signing some paperwork that had to do with my federal student loans. And I remember receiving notices about nine months after graduating that it was time to start repaying my loans, which I’ve been doing faithfully ever since.

But like most people I know, that’s about the extent of the time and energy I’ve invested in understanding my student loans and student loan debt. [...]

It’s common to graduate with four, eight, or even a dozen student loans from a handful of lenders. Even if most of them are from the same two or three service companies, each loan may have a different interest rate and due date. Talk about intimidating!

And then you get a mailing or a phone call. Consolidate all those student loans into one low payment! Student loan consolidation sure is tempting. But is it wise? [...]

Good news for prospective home-buyers: It looks like Congress will extend the $8,000 first-time home buyer tax credit that was slated to end this month and add a $6,500 tax credit for those that have already owned a home.

The Senate voted 98-0 Wednesday to extend and expand the tax credit and the House could vote on the bill as early as today. If passed, the $8,000 tax credit would remain in effect for first-time home buyers — or anyone who hasn’t owned a home in the last three years. [...]

“I’m 25 and only make $30k a year. I’ve got student loans. I’m broke! Why should I care about investing?”

I hear this all the time. When it comes to money, many of my peers (at least the ones not completely afraid of their finances) are concerned with upgrading their cars and homes, developing their career, and finding a partner or getting married. These are all good things to do, but something’s missing. We often hear about the same few financial steps for twentysomethings: [...]

It always amazes me the number of great financial blogs that I stumble across every week. When there are a million new blog posts every day, it’s hard for one guy to keep up. This week I’m honing my recommended reading in on blogs that also focus on money in your twenties. If you enjoy this site, you’ll want to make these blogs part of your regular reading, too! [...]

Do you talk to your partner about finances? If not, have “the talk”. It may very well save you frustration, save you money, and save your relationship.

I recently read an article on The New York Times, four money talks to have before marriage, and a response at Get Rich Slowly. I agree that this is critical (talking money before you marry could someday save your marriage). But this is not just important for couples considering marriage. A lot of us youngins shack up long before we marry, if we marry at all. So I think these articles need to be re-framed as money talks to have before living together. [...]

Whether you’re just starting your first “real job” or have been in the workplace for a few years but haven’t gotten around to saving for retirement yet, listen up: it’s never too early to start building a nest egg. Statistically, young workers are the least likely to contribute to a 401(k) or IRA. But the sooner you start saving for retirement, the more compounding interest will help you grow wealthy with time. [...]

When it comes time to buy a new home, you need to know whom you can trust. Real estate is a cutthroat business, and as a prospective home buyer, you should recognize that the real estate agents who list properties are working for sellers—they’re salespeople, and they’ll push hard to sell their clients’ homes. Not to say there aren’t agents out there that tell it like is, even while working for a seller. But you’ll want to be prepared for the ones that don’t.

That’s where enlisting a buyer’s agent can be a wise move. [...]