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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

Payday Loan Fees Often Exceed the Amount Borrowed

Posted on 03/25/2014 by | Senior Editor, Money Team | Comments

Money & SavingsIf you need more evidence that payday loans can be a debt trap, look no further than today’s report by the Consumer Financial Protection Bureau. The agency found that 4 out of 5 payday loans are renewed or rolled over within two weeks after the end of their term. In half of these cases, the borrower renews the loan at least 10 times in a row. And repeat borrowing may be more expensive than many borrowers may realize. Fees in …

IRS Watchdog: Impostor Phone Scam Largest Ever

Posted on 03/21/2014 by | AARP Blog Author | Comments

Bulletin Today | Money & SavingsFrom its infancy several months ago, this was no typical telephone scam “phishing” for personal information. These crooks, posing as IRS agents, already had some of it — including the last four digits of the Social Security number of those whom they called. And perhaps that explains, at least in part, why it’s since grown to become the “the largest scam of its kind we have ever seen,” the IRS inspector general said Thursday. At least 20,000 taxpayers have been contacted …

Money Questions? Carrie Schwab-Pomerantz Answers Them

Posted on 03/21/2014 by | Money and Work | Comments

Bulletin Today | Money & SavingsCarrie Schwab-Pomerantz (yep, Chuck’s daughter) doesn’t want you to lie awake at night, worrying about whether you’ll be able to afford to retire. Instead, she wants you to consult her new compendium for advice, not unlike the way patients thumb through a medical reference guide to learn about a particular disorder. The chapter titles in The Charles Schwab Guide to Finances After Fifty are similar to the questions in Ask Carrie, her syndicated personal finance column. Are you in your 60s and way …

Spring Cleanout? Beware of Seasonal Scams

Posted on 03/21/2014 by | AARP Blog Author | Comments

Bulletin Today | Money & SavingsAfter a polar-vortexing bear of a winter, spring has sprung (finally!) — at least according to the calendar. So now’s the time to prepare for scammers who spring into action, trying these perennial ploys: Home Repair Scams They may promise deals on asphalt paving, roof work or other “needed repairs” they happen to spot from their pickups or by going door to door. But beware of any “con”-tractors who then request upfront payment under the guise of having to buy materials; …

Fending Off Online Fraud

Posted on 03/19/2014 by | AARP Blog Author | Comments

Money & Savings | TechnologyEric Schneidewind, AARP Board Member There is no question about it: Online scams are growing in number and complexity. I’ve seen them in my email account. I’ve read about them in AARP publications. And I’ve heard about them through the work of fraud fighters in my state, Michigan. Some of them are truly disturbing. One in particular struck close to home, though it didn’t happen to me, fortunately. You hear about people being emailed and told that a loved one …

IRS Owes You $760 Million in Refunds

Posted on 03/19/2014 by | Money and Work | Comments

Bulletin Today | Money & SavingsNo, it’s not opposite day. The IRS really does owe almost 1 million taxpayers like you nearly $760 million in refunds — or a median $571 for about half of those owed money. The IRS says the refunds are owed to people who didn’t file a federal income tax return for 2010. But here’s the catch: To collect the money, you’ve got to file a 2010 return with the IRS no later than Tuesday, April 15. “We encourage students, part-time workers …