Personal Finance News

Ken and Daria Dolan, America's first family of personal finance, answer your questions every Friday.

Click here to ask Ken and Daria your question.

Your credit score has never been more important than it is today. That's why it is critical you understand some big changes in the way your credit score is calculated. Learn what you'll get hit hard for and what gets ignored under the new rules.

Dear Dolans:

I've heard they are changing how my FICO score is calculated. What do I need to know?

--John

To learn more about the new FICO rules, as well as tips to boost your credit score, visit Dolans.com.

Ken and Daria Dolan, America's first family of personal finance, answer your questions every Friday.

Click here to ask Ken and Daria your question.

Medical costs in the U.S. are still skyrocketing, topping more than $8,000 a year per person. In fact, a recent study showed 60% of all bankruptcies were caused due to overwhelming medical bills. As people look for ways to cut costs, traveling to another country for medical procedures is on the rise. Find out whether its safe and if it really saves you money, from Ken and Daria of Dolans.com.

Dear Ken and Daria,

I've heard a lot about traveling overseas for medical procedures to save money. I'm wondering, is it safe and will it really save me money?

--Ellie

You'll find dozens more ways to cut your medical costs on Dolans.com.

We have a very important warning for you today about a new wave of scams being reported nationwide. This financial crisis has unleashed a new torrent of scam artists who are working overtime to get their hands on your money. We want to make sure that doesn't happen.

Many of these scams prey on current fears about bank safety, mortgage foreclosure, and the credit crisis. Learn how to protect yourself as we expose 10 popular scams being run right now.

1. Phishing scams related to the financial crisis
According to the Federal Trade Commission, there is a new round of email scams out there that are tied to the financial crisis. Many of these emails "phish" for personal information -- your Social Security number, account numbers, passwords, etc. The scammer then uses that info to steal your identity.

Proceed with extreme caution if you get an email that purports to be from your mortgage company, a government agency, or other official institution. If the email is requesting ANY personal information, you know it's a scam. No government or reputable financial institution will ask you to share confidential information in an email.

Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.

Click here to ask Ken and Daria your question.

Having life insurance is sort of like that TV show, The Price is Right: The winner in the insurance game is the one who comes closest to meeting their exact life insurance needs without going over. So, how do you know how much you need -- and how long do you need it for?

This question gets trickier to answer as you enter retirement. Check out our video response below to learn what criteria you need to consider when making this important decision.

Dear Ken and Daria,

I have a life insurance policy through work that will end when I retire soon. I say we still need the insurance, but my husband disagrees. What do you suggest?

-Flo

Taking care of your life insurance needs is a critical part of your financial plan. Start with Ken and Daria's worksheet on Dolans.com to make sure you're getting the right coverage.

Ken and Daria Dolan are widely known as America's First Family of Personal Finance.

If the weak economy has you tightening your belt a bit these days, you're not the only one. The subprime crisis is putting a strain on banks' bottom lines all over the country since they aren't making as much income off of loan interest. I know, cry me a river, right? But this is important because it impacts your money in a big way.

To compensate for the dip in funds, banks are once again finding more ways to nickel and dime folks like you and me. The latest tactic is a fee increase from the usual suspect: ATMs. These fees can quickly add up to hundreds of dollars that can drain your account. While we can only dream about a world where we never have to deal with banks again, there are ways to avoid these costly fees. Check out my video below to learn about new ATM charges and my advice for protecting your money.

For more ways to fight back against bank fees, check out the Dolans' banking section at Dolans.com. Click here to learn more.

Don't forget to send your money questions to Ken and Daria!

Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.

Dear Ken and Daria,

I have a little bit of money left over at the end of each month. What's the smartest way for me to put it to work? Should I invest? Pay off debt? Something else?

Glen

Ken and Daria Dolan offer much more advice on everything from debt management to investing wisely at Dolans.com.

Click here to ask Ken and Daria your question.

Ken and Daria Dolan are widely known as America's First Family of Personal Finance.

Did you see the headlines this week? Congress is finally airing some of the credit industry's dirty laundry and threatening to get tough with it over the sneaky-and sometimes downright unethical ways some credit card companies squeeze consumers.

We say it's about time. Just thinking about the way some companies offer you the "opportunity" to rob your own future makes us livid. But let's be real -- credit card companies are in business to make money.

And if consumers keep taking what they dish out, a Congressional hearing isn't going to change that.

Ken and Daria Dolan are widely known as America's First Family of Personal Finance.

Question: We're just starting a family and reviewing our life insurance. There are SO many choices! We think the toughest choice is whether we should buy whole life or term insurance. What's your take? - Jessica, MD

You know, Jessica, so many of the questions we answer have lots of "buts" or "ifs" associated with them.

But this one is about as straightforward as they come.

For young families, Ken and I recommend term life insurance. Period.