Many of us hesitate to use credit cards when we can pay for the service using cash or a debit card. However, there are certain services that you may want to use a credit card instead of paying with a debit card.

• If you are able to pay for your monthly purchases, you may consider using a credit card for those purchases and paying the card balance each month. You are not only avoid accruing and paying interest but also get other benefits such as airline miles, gifts and other benefits for using your credit card.
• Many credit cards offer rental car insurance as a benefit if you use your credit card to rent a vehicle.
• When you pay for your online purchases with a credit card you get a benefit that a debit card can’t provide. If you are not happy with the product, you can return the product and ask your credit card company for a chargeback.
• Consider using your credit card to pay for a hotel stay instead of paying with a debit card. Not only the hotel still will require a credit card, they will take money from your account right away if you use your debit card. You get a grace period to pay for your hotel stay with a credit card.

Most investors such as retirees looking for current income are having a hard time finding suitable ways to invest. The 10-year Treasury note yielded 15 percent in 1982 and that dwindled down to two percent at the end of 2012. So, where can you find good investment these days? Many suggest using exchange-traded funds (ETFs). They are a low-cost way to build a portfolio with stocks and bonds. It provides diversification, liquidity and generally a cheaper way to invest than mutual funds.

Today, an income investor can find a reasonable ETF with a 0.4 percent expense ratio. Also, in order to diversify one’s investment to reduce risk, a basket of ETFs can be chosen from an enormous pool available. Behemoths like iShares, PowerShares, SPDR, PIMCO, Vanguard, Charles Schwab and many others offer a wide selection of bond ETFs for income investors. They may not be suitable for young, say under the age of 50, because their time horizons are much longer and other opportunities provide better investment vehicles. With an ETF, traditional laddering that is needed with bonds doesn’t come into play. At a time bonds, Treasuries and other traditional investment vehicles for income provides less than desired returns, ETFs can provide much needed income while protecting the nest egg.

Experts say that you do not need to carry a balance on your credit card to get a higher FICO score. Lenders report monthly balances to credit bureaus. Your balance is weighted against available credit and they create a debt to credit ratio. They will also look at your credit utilization and develop patterns that may negatively or positively impact your FICO score. Keep in mind that the amount you owe is only contribute 30 percent towards the FICO score. Other factors that are considered include payment history (35 percent), length of credit (15 percent), types of credit (10 percent), and new credit (10 percent). Paying off the entire amount owe on a credit card is also not going to reward you with a higher FICO score. The key factor here again is debt to credit ratio. Having a small balance won’t hurt, but utilization of credit also need to occur. So, use your credit cards for smaller amounts frequently and pay off the balance on time to avoid interest as well as impacting for a lower score. How small credit balance to maintain on each credit card? Experts say less than 30 percent of the credit limit will help to improve FICO score.

Credit and debit card uses are on the rise. Both claim that each card is safe to use. But most recent credit card breach at Target tells a different story. A closer comparison of the two still reveals that use of a credit card may hold some advantages over a debit card.

When it comes to protecting the customer, credit card is a better choice. Debit card is directly tied to your checking or savings account. But the credit card is not tied to any of the two and therefore, provides an extra layer of protection for the customer. In the event of a fraud or theft, credit card provides better chance of getting the fraudulent charge reversed. Another advantage of using a credit card instead of a debit card is reward points attached to most credit card purchases. Restoration of contested charges may take less time on credit cards compared to debit cards.

Whether it is a credit or debit card, use extreme caution when using your card at gas pumps and freestanding outdoor ATMs. They are known to carry unauthorized skimming devices that collect personal data from cards and use for fraud.

You contribute your after tax earnings to a Roth IRA account but earnings and withdrawals from it after meeting certain requirements is tax free. Roth IRAs carry certain advantages over Traditional IRAs. This makes Roth IRAs more appealing to many especially to elderly.

In addition to tax free compounded growth, Roth IRAs are not subject to required minimum distributions (RMD) which allows it to grow for longer period of time than a Traditional IRA. Traditional IRA distribution is required at you reaching 70 ½ years of age. This is why it makes more appealing to put Roth IRA funds into growth stocks and similar growing instruments.

When converting traditional IRAs to a Roth IRA, consider contribution limits and do it methodically. For 2013 and 2014, contribution limit for a ROTH IRA for those who are 50 years of age and over is $6,500. Your annual income may bring additional limitations. Married couples with combined income over $188,000 and single over $127,000 for 2013, contributions to a Roth IRA will be phased out. These limits for 2014 are $191,000 and $129,000 respectively. If you have no earnings, take a look at converting your existing Traditional IRA gradually into a Roth IRA.

According to the College Board annual cost including tuition, room and board at a public college is estimated at $17,000 and a private college at $39,000. To complete a four-year degree in a private college it will cost whopping $156,000 and a public college $70,000. How can a parent save up enough to cover college cost?

Start small and add when you get something extra like a bonus or any other type of windfall. Also as the child grow, childcare expenses will start to taper. You can increase the amount by adding the difference to the college savings plan. Any gifts from birthdays and any child’s earnings from all kinds of odd jobs can also directed to build the college savings plan.

Use a tax advantaged college savings vehicle such as 529 college savings plans. Some states allow tax deductions for contributions to the plan while all contributions grow tax free.

Another option is to use the Coverdell education savings account that allows $2,000 per year per child tax-free contributions. Funds can be used tax-free for college expenses as well as other secondary education purposes. You can also use your Roth IRA to pay for college education without triggering tax consequences for early withdrawal.

Best time to think about retirement is when you are working. It is not too late to plan. Sooner you plan for your retirement, better off you are going to be in retirement. No matter what, we all feel that we should have saved more for our retirement. Whatever the amount you saved make sure to spend it wisely. Better yet develop a budget during retirement.

List all the expenses you might need in retirement. Best place is your current monthly budget. You know some expenses such as commuting cost will go away but additional expenses will come into play. Not only your monthly expenses including healthcare, add those unexpected you might have to help with. Your kids may need support from you to buy a home or you may want to open up a college savings plan for your first grand kid. It doesn’t matter how small an item is, list them all. If you can come up with an expense budget for an entire year, it will make your retirement life much easier.

This will give you an idea how much money you need for a month. Now you can decide which retirement account to tap and how much you need to withdraw from each account.