On the Money

On the Money is a monthly advice column. If you want advice on spending, saving, or investing — or any of the complicated emotions that may come up as you prepare to make big financial decisions — you can submit your question on this form. Here, we answer two questions asked by Vox readers, which have been edited and condensed.

I’m currently 27 and am fortunate enough to still live at home with my parents and have a solid-paying local government job. I could be more financially literate in a lot of areas, however, investment is one that I should probably focus on now. I have not been using any of my life earnings to grow a larger sum.

On the Money is a monthly advice column. If you want advice on spending, saving, or investing — or any of the complicated emotions that may come up as you prepare to make big financial decisions — you can submit your questions on this form.

Curious about what a financial expert would suggest about planning for the future. Seems like there is a lot of uncertainty — and as a millennial, lots of income difference within my generation. What happens if they raise the retirement age to 70? What if something else changes before millennials are able to retire?

On the Money is a monthly advice column. If you want advice on spending, saving, or investing — or any of the complicated emotions that may come up as you prepare to make big financial decisions — you can submit your question on this form.

This month, we’re answering four reader questions about taxes — and to ensure that we’re giving the best advice, I’m teaming up with Caitlynn Eldridge, an Omaha-based CPA who has spent her entire career focusing on tax prep, including two years with Deloitte Tax Services. You can read more of Eldridge’s advice in our CPA Q&A, but let’s start with these four common tax questions.

On the Money is a monthly advice column. If you want advice on spending, saving, or investing — or any of the complicated emotions that may come up as you prepare to make big financial decisions — you can submit your question on this form. Here, we answer two questions asked by Vox readers, which have been edited and condensed.

I was recently laid off from a well-paying job. I have plenty of savings and live frugally, so I don’t need to find a replacement job right away — although I am looking!

On the Money is a monthly advice column. If you want advice on spending, saving, or investing — or any of the complicated emotions that may come up as you prepare to make big financial decisions — you can submit your question on this form. Here, we answer two questions asked by Vox readers, which have been edited and condensed.

My husband and I were two very broken people when we met. Terrible past relationships had left us broke and isolated, with no savings, no support systems and tons of legal and medical costs. He was retired, and gets about $2,450 a month in Social Security and pension. I am currently unemployed, in my late 50s, and looking for a job that I can do which will hopefully pay more than minimum wage and will offer medical insurance, which I need.

On the Money is a monthly advice column. If you want advice on spending, saving, or investing — or any of the complicated emotions that may come up as you prepare to make big financial decisions — you can submit your question on this form. Here, we answer two questions asked by Vox readers, which have been edited and condensed.

I struggled with my mental health over the past few years, and as a result have racked up a considerable amount of credit card debt. I’m also a freelancer, so my ability to work and increase my income depends somewhat on my mental health. I’ve gotten to a point with my mental health where I can put in more hours to increase my income, but I’m finding tackling this mountain of debt to be daunting, especially since my income fluctuates month to month. Any advice on how to dig myself out of this hole?

On the Money is a monthly advice column. If you want advice on spending, saving, or investing — or any of the complicated emotions that may come up as you prepare to make big financial decisions — you can submit your question on this form. Here, we answer two questions asked by Vox readers, which have been edited and condensed.

Hey Nicole, this might be a little left-field, but I was wondering if you have any tips for building a simple-but-effective money management system for someone with ADHD?

On the Money is a new monthly advice column. If you want advice on spending, saving, or investing — or any of the complicated emotions that may come up as you prepare to make big financial decisions — you can submit your question on this form. Here, we answer two questions asked by Vox readers, which have been edited and condensed.

My husband and I are on the same page with our money, but not with his parents’ finances. His parents, who are currently selling their home to pay their debts, want to put part of the leftover money toward a new home and spend the rest on travel. They don’t have a retirement plan, and my husband is prepared to support them financially in the future. He says that his parents are free to spend their money however they choose. I feel that it is unfair that my in-laws spend their money on traveling and then depend on our money to live.

On the Money is a new monthly advice column written by Nicole Dieker, a personal finance expert who’s been writing about money for over a decade. For Vox’s Money Talks interview column, she’s written stories about couples who run small businesses, navigate different relationships with spending, handle health insurance, and more. If you want advice on spending, saving, or investing — or any of the complicated emotions that may come up as you prepare to make big financial decisions — you can submit your question on this form. Here, we answer two questions asked by Vox readers, which have been edited and condensed.

I’m a single man in my late 20s. Every month, I rent one room of a shared house in a high-cost-of-living city for $1,050, have a $72 commuting-to-work expense (covered by my employer), spend about $60 on games and a gaming PC, $300 on food, $300 on going out (dancing and the like), $200 on travel (averaged out, very spiky) and $250 on other incidentals (health care costs after employer-provided insurance, clothing, presents, and gifts, etc.). That’s about $2,250, and from my perspective, I live an indulgent and sybaritic lifestyle that still allows me to pay my taxes, donate 10 percent of my income, and save aggressively.

On the Money is a new monthly advice column written by Nicole Dieker, a personal finance expert who’s been writing about money for over a decade. For Vox’s Money Talks interview column, she’s written stories about couples who run small businesses, navigate different relationships with spending, handle health insurance, and more. If you want advice on spending, saving or investing — or any of the complicated emotions that may come up as you prepare to make big financial decisions — you can submit your question here. Here, we answer two questions asked by Vox readers, which have been edited and condensed.

How do normal people invest in the stock market? I tried a daytrading app, but the whole experience seemed like gambling. I also opened an E-Trade account, but I was paralyzed by the amount of data it offered me and I felt too scared to use it. Is there a “set it and forget it” way to invest a portion of my monthly income without having to micromanage a portfolio?

On the Money is a new monthly advice column written by Nicole Dieker, a personal finance expert who’s been writing about money for over a decade. For Vox’s Money Talks interview column, she’s written stories about couples who run small businesses, navigate different relationships with spending, handle health insurance, and more. If you want advice on spending, saving, or investing — or any of the complicated emotions that may come up as you prepare to make big financial decisions — you can submit your question here. Here, we answer two questions asked by Vox readers, which have been edited and condensed.

How do you deal with income when you marry late in life? Do you combine it, or keep things separate?