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January 3, 2024
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The Admiral Staff
Paying off debt can sometimes cause a temporary drop in your credit score, despite seeming like a positive action. This can happen for several reasons: reducing your overall credit limit, lowering your average credit age, changing your credit mix (like eliminating installment loans), or other factors like late payments or increased balances on other accounts. While frustrating, these dips are usually short-term, typically recovering within a few months, and shouldn’t deter you from paying off debt. Lenders consider multiple factors, including your
January 2, 2024
By
The Admiral Staff
The article addresses concerns about potential capital gains taxes when selling a home with significant appreciation. Homeowners can often avoid taxes by selling their primary residence, as a profit of up to $250,000 for single filers (or $500,000 for those filing jointly) is exempt from capital gains tax. Any profit exceeding that amount is subject to capital gains tax rates (0%, 15%, or 20% depending on income). The article advises
January 2, 2024
By
The Admiral Staff
The article encourages readers to overcome common obstacles preventing them from investing, arguing that it’s a key way to build wealth. It addresses concerns like lack of knowledge (suggesting apps like Stash for beginners), fear of losing money (emphasizing a long-term perspective and historical market returns), procrastination (“it’ll never be the right time”), and affordability (highlighting the ability to start with small amounts and invest in fractional shares). The overall message is to start investing now, as time in
January 2, 2024
By
The Admiral Staff
Due to rising return costs fueled by a surge in online shopping during the pandemic, Amazon is implementing a $1 fee for returns dropped off at UPS locations, but only if a free return option like Whole Foods, Kohl’s, or Amazon Fresh is closer. This change reflects a broader retail trend of retailers adjusting return policies to manage the substantial financial impact of merchandise returns, which totaled $816 billion in 2022.
January 1, 2024
By
The Admiral Staff
A homeowner was surprised when their handyman announced he was raising his rates and implied they should tip him, sharing a story about another client who tipped $20 per job. The advice columnist argues that a business owner shouldn’t rely on customers to supplement their income through tips and that the handyman’s communication was unprofessional. The consensus among those polled was that tipping handymen is not standard practice, and the homeowner is advised to find a new, more reliable handyman.
