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Money & Savings

Informative Money and Saving blog from AARP. Check out our posts on money advice, financial tips, news, and more.

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Recent Money & SavingsPosts

3 Sneaky Schemes That Scammers ‘Bank’ On

Posted on 08/22/2014 by |AARP Blog Author | Comments

Money & SavingsMost phone calls claim there’s a problem with your bank account or credit or debit card. Some allege you qualify for a lower-interest-rate credit card because you’ve been such a good customer. And the newest trick: telling businesses that their card-swiping machines aren’t working right and credit card transactions must be made by phone. But it’s scammers delivering such unexpected news — not legitimate financial institutions they profess to represent, which most recently include Bank of America, Barclays, and scores …

It’s August, So It Must Be Make-a-Will Month

Posted on 08/20/2014 by |Money and Work | Comments

Money & SavingsSo August is National Make-a-Will Month. Who knew? Getting a will isn’t the most pleasant of tasks, and consequently, too few people do it. A recent survey of more than 2,000 people by the online legal service Rocket Lawyer found that 64 percent don’t have wills. The biggest reason cited by folks: They just never got around to it. Some said they didn’t want to think about death. You might believe that only wealthier families need a will. You’d be …

My Husband, the Scam Victim

Posted on 08/15/2014 by |AARP Blog Author | Comments

Money & Savings | Your LifeBy Sally Hurme From schemes and scams to frauds and cons, when it comes to the latest tricks used to steal money and information, you name it and I’ve probably touched it or talked about it. For the past two decades, I’ve helped do consumer and financial education at AARP — covering everything from telemarketing fraud to identity theft. That’s why I was so surprised the day I came home to discover that my own husband, Art, had been a victim …

Protect Your SSN, and Be Thankful It’s Not 078-05-1120

Posted on 08/15/2014 by |AARP Blog Author | Comments

Home & Family | Money & SavingsSeventy-nine years ago today, President Franklin D. Roosevelt signed the Social Security Act into law, birthing that most important government program and, as a result, a coveted prize of identity thieves: your Social Security number. You know why you need to guard your SSN like an amped-up Rottweiler: In the wrong hands, it’s the quickest and arguably most common way for an ID thief to pose as you to open credit accounts and get medical care, your tax refund, even a job. …

FICO Eases Pain of Medical Debt on Credit Scores

Posted on 08/8/2014 by |Senior Editor, Money Team | Comments

Bulletin Today | Money & SavingsFICO, the nation’s leading credit-scoring company, is making two changes that could benefit consumers with debt that has gone into collection. In its newest scoring model, FICO will no longer count debt in collection that has been repaid or settled. The company will also discount medical debt in collection, so it has less of a negative impact on consumers’ scores. More than half of unpaid collections involve medical bills. The medical changes alone could boost a consumer’s score by 25 points, FICO said when announcing …