Talking Money Everything You Need to Know about Your Finances and Your Future

by Chatzky, Jean

• ISBN13: 9780446678100
• ISBN10: 0446678104
• Edition: Reprint
• Format: Paperback
• Copyright: 2002-01-01
• Publisher: Business Plus

Summary

The definitive guide to managing your money in the 21st century.Talking Money is a detailed and informative guide on how to get personal finances in order. Jean Chatzky knows firsthand that once minor money problems are under control, the big picture falls quickly into place. This is the perfect book to guide readers over their financial hurdles, preparing them for long term goals and financial security.

Author Biography

Jean Chatzky writes a monthly column for Money magazine. She is a regular contributor to NBC's Today show and a featured columnist for USA Weekend

Table of Contents

Introduction	xvii
Talking Goals	1	(16)
Setting Goals	6	(1)
The Wish List	6	(1)
Five Questions to Ask Yourself (and/or Your Partner) About Your Goals	7	(6)
Challenge Your Goals	9	(1)
Frame Your Goals	10	(2)
Revisit Your Goals	12	(1)
You Can Do This! (Will You?)	13	(1)
Seven Ways to Make a Good Habit Stick	14	(3)
Talking Debt	17	(25)
Quick Quiz: How Debt Dependent Are You?	20	(2)
Debt Relief Plan No. 1	22	(3)
Debt Relief Plan No. 2	25	(2)
Debt Relief Plan No. 3	27	(3)
Five Questions to Ask About Your Credit History	30	(2)
The Best Ways to Borrow	32	(7)
How to Pick a Credit Card	33	(2)
Five Questions to Ask Your Credit Card Company	35	(1)
Finding the Best Deal on a Home Equity Loan	36	(3)
The Fed Watch: What Happens to Your Debt When Interest Rates Rise and Fall?	39	(3)
Talking Saving	42	(27)
Follow the Money	46	(6)
A List to Get You Started	48	(3)
Using Your Data to Spend Less, Save More	51	(1)
The One Very Best Way to Save (and Eight Second-Place Alternatives)	52	(4)
Ten Ways to Add to Your Savings	56	(3)
Where Does All This Saving Get You?	59	(2)
Payoff No. 1: Security	59	(1)
Payoff No. 2: Freedom	60	(1)
Payoff No. 3: The Pleasure of Watching It All Add Up	60	(1)
A Bank: The Best Holding Pen for Your Dollars	61	(2)
Picking the Right Bank (and Bank Account) for You	63	(1)
Five Questions to Ask Your Bank	64	(2)
Don't Hesitate: Automate	66	(3)
Talking Investing for Safety	69	(19)
What Is the Short Term?	72	(1)
The Short-Short Term: Up to Six Months	73	(5)
Money Market Accounts	74	(1)
Money Market Mutual Funds	75	(3)
Six Months to Two Years	78	(7)
U.S. Treasury Securities	79	(2)
Certificates of Deposit	81	(1)
Ultrashort and Short-Term Bond Funds	82	(3)
Three to Five Years	85	(3)
Balanced Mutual Funds	85	(3)
Talking Investing for Retirement and College	88	(38)
Your Goals: How Much Should You Be Investing?	89	(2)
The Ballpark Estimate	91	(4)
The Four Keys to Making Your Money Grow	95	(3)
Buy and Hold	96	(1)
Don't Try to Time the Market!	96	(1)
Don't Hesitate: Automate	97	(1)
Keep Your Expenses Down	97	(1)
The Investment Triumvirate	98	(1)
Asset Allocation 101: Two Approaches	99	(1)
Investing Your Money: The Simple Route	100	(1)
Investing Your Money: The More Complicated Route	100	(1)
Five Questions to Ask Before Buying a Stock	100	(3)
Five Questions to Ask Before Buying a Mutual Fund	103	(2)
A Quick Bond Primer	105	(2)
Invest for Retirement Now; Pay the Taxes Later	107	(6)
To: CEOs of the Home; Re: Spousal IRAs	111	(1)
Retirement Accounts for the Self-Employed (Moonlighters: Listen Up!)	112	(1)
Retiring When You're a Step Behind	113	(1)
Investing for College as You Invest for Yourself	114	(2)
Financial Aid: The Lowdown on Student Loans	115	(1)
Where to Put Those College Dollars	116	(4)
What About the Rest of Your Money? Taxable Accounts	120	(1)
Watching the Stock Market	120	(6)
The Five Indexes You Need to Understand	121	(1)
Monthly Data It Pays to Follow	122	(1)
The Soft Signals	123	(3)
Talking Insurance	126	(29)
Life Insurance	128	(11)
Worksheet: How Much Life Insurance Do You Need?	129	(1)
What Kind of Life Insurance Is Right for You?	130	(4)
So Which Is Better? Term or Permanent? Or Both?	134	(2)
Getting a Good Deal	136	(2)
Five Questions to Ask Your Life Insurance Company	138	(1)
Health Insurance	139	(3)
If You Have Health Insurance Through Your Company	140	(2)
If You Don't Have Insurance Through Your Company	142	(1)
Homeowners Insurance	142	(4)
Insuring the Structure	143	(1)
Insuring the Contents	144	(1)
Renters Insurance	145	(1)
How Do You Get the Best Rates?	145	(1)
Auto Insurance	146	(4)
How Do You Get the Best Rates?	148	(2)
Umbrella Liability Coverage	150	(1)
Disability Insurance	150	(2)
Long-Term Care Insurance	152	(3)
Talking About the Things You Don't Want to Talk About (aka Talking Estate Planning)	155	(27)
The Musts: Estate Planning Basics You Shouldn't Be Without	158	(6)
The Musts: A Will	159	(1)
The Musts: Picking Guardians	160	(1)
The Musts: Durable Power of Attorney for Finances	161	(1)
The Musts: Medical Directives	162	(1)
The Musts: Schedule Regular Estate Checkups	163	(1)
The Musts: Organize Your Important Papers	163	(1)
One Big Maybe: Living Trusts	164	(2)
Five Questions to Ask Your Attorney About Estate Planning	166	(1)
Beyond the Musts: Estate Planning to Save Taxes	167	(10)
Retitling Select Assets (Owning Everything Jointly Is a Bad Idea)	169	(1)
Annual Gifts	170	(1)
Gifts Over $10,000 (Singles), $20,000 (Couples)	170	(1)
Marital (Bypass) Trusts	171	(1)
Trusts for People Who've Been Married More than Once	172	(1)
Insurance Trusts	172	(1)
Gifts to Charity	173	(1)
Charitable Trusts	173	(1)
Charitable Gift Annuities	174	(1)
Special Gifts from Grandparents Only	175	(2)
Managing an Inheritance	177	(2)
Giving It Away: Charitable Contributions	179	(3)
Four Things to Know Before You Contribute	179	(3)
Talking Real Estate	182	(30)
Buying a House: The Homeowner Plunge	184	(3)
Give Your Credit a Once-over	185	(1)
Do Some Independent Market Research	186	(1)
Why You Need a Real Estate Agent	187	(1)
Keep the Next Owner in Mind	188	(1)
Making Your Case	188	(1)
Making an Offer	189	(2)
Closing the Deal	191	(1)
Who's Representing You?	192	(4)
Five Questions to Ask Your Home Inspector	196	(1)
Paying for It: Getting a Great Mortgage Deal	197	(9)
Why Choosing a Loan Is Almost as Tough as Choosing a House	197	(1)
How Quickly Will You Pay It Off?	198	(2)
How Large a Loan Do You Need?	200	(1)
Where to Shop?	200	(1)
Paying Points	201	(1)
Don't Forget Closing Costs	202	(1)
Get Your Paperwork in Order	202	(1)
Pulling the Trigger--Locking In	203	(1)
When Should I Consider Refinancing?	204	(1)
Five Questions to Ask Your Mortgage Broker	205	(1)
Moving On: The Best Way to Sell Your House	206	(3)
Get Your House in Shape	207	(1)
Do You Want to Use an Agent?	207	(1)
Going Solo	208	(1)
How About a Second Home?	209	(3)
Talking Spending	212	(23)
Avoiding Overspending	214	(4)
The Studied Approach	215	(1)
My Mother's Approach: The Four Golden Rules of Shopping	216	(2)
Five Questions to Ask Yourself Before You Buy Anything	218	(1)
Shopping on the Internet	219	(2)
Getting a Good Deal On:
Cars	221	(2)
Dining Out	223	(1)
Home Repair	224	(2)
Pets	226	(2)
Phone Service	228	(1)
Travel	229	(3)
Shut Up, Already: Financial Information to Keep to Yourself	232	(3)
Talking Money with Your Investment Team	235	(25)
What Is a Financial Planner?	237	(1)
How Is Your Financial Planner Paid?	238	(1)
Fee-Only Planners	240	(1)
Commission-Only Planners	240	(1)
Fee-Based Planners	240	(1)
Wealth Managers	240
What Do Their Designations Mean?	239	(3)
Checking Up on Your Planner	242	(2)
What Do You Get for Your Money?	244	(1)
Five Questions to Ask a Financial Planner	245	(2)
Financial Counselors: Hand-holding in Money 101	247	(1)
Planners Specializing in Divorce	248	(1)
Choosing a Broker	249	(11)
Full Service Brokers	252	(1)
Discount Brokers	252	(2)
Deep Discount Brokers	254	(1)
Online Brokers	254	(6)
Talking Money with Your Family and Friends	260	(25)
Talking to Your Spouse (or Life Partner)	262	(6)
How to Start Talking	263	(1)
Merging Your Finances: Dos and Don'ts	264	(2)
The Prenup Question	266	(1)
Five Questions to Ask Your Spouse to Get Your Goals in Sync	267	(1)
Talking to Your Parents	268	(5)
Five Questions to Ask Your Aging Parents About Money	270	(1)
Financial Planning for the Seriously Ill	271	(2)
Talking to Your Kids	273	(5)
Ages Five to Twelve	275	(1)
The Teenage Years	276	(2)
Talking to Your Friends: Money Etiquette	278	(3)
The Lowdown on Tipping	281	(4)
Index	285