MoneyWise


Social Security COLAs

November 20, 2018

We’ve reported to you that the booming economy is causing inflation to creep up and making interest rates rise. Now another welcome consequence of inflation: a cost of living increase for those living on Social Security. On this MoneyWise, Rob West and Steve Moore discuss the 2.8% increase in Social Security benefits, the largest gain in 7 years. 

Then, they answer your questions at (800) 525-7000 and questions@moneywise.org about the following:

  • Is it more beneficial to use an HSA or to report your medical bills around tax time?
  • If your credit score was 842 before paying off your house and is at 784 four months later, can paying off a mortgage affect your credit score to this degree?
  • Whether to tithe on net or gross, what does the Bible?
  • What should you do if, whenever you create a budget, it looks like fine on paper, but then you run out of money every month?
  • If you think that you have enough equity to remove your PMI but your mortgage company disagrees, what should you do? 

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