Feature

Making money: Handling a dispute with your bank, and more

3 top pieces of financial advice — from taxes for the self-employed to bequeathing loyalty points

Conflict resolution 101
"Disputes with your bank are bound to trigger strong emotions," said Daniel Bortz at US News. But before you blow up, think about the smartest approach. You'll "have a greater chance of success" by minding your manners with customer-service representatives. If you don't have the patience to wait on hold, call during off-peak hours — Tuesdays and Wednesdays between 1 p.m. and 4 p.m. While a phone call is fast, direct, and better for complex issues, give tweeting a try too; "it's public, which means the bank will likely work quickly to remedy the situation." And be organized — keep copies of receipts and statements, and take notes on whom you speak with and when. "Keeping track of the communication is something we should be doing with any type of dispute," said Greg McBride, a financial analyst at Bankrate.com.

Taxes for the self-employed
Paying Uncle Sam when you're self-employed "can be hard to get used to," said Farnoosh Torabi at Yahoo. A good rule of thumb is to set aside 40 percent from each paycheck. "This is a gross overestimate for many freelancers," but it will help make sure you don't fall short when it's time to pay the piper. A quarterly schedule to pay taxes can be wise because "it forces you to stay on top of your financial records throughout the year." Remember to keep receipts that are relevant to your income, and keep an up-to-date calendar when working, looking for work, or doing anything that's relevant to your career.

Bequeathing loyalty points
Don't let those airline miles go to waste, said Chelsea Emery at Reuters. American travelers rack up as many as 3 trillion frequent-flier miles each year, but as loyalty programs proliferate, "so do the challenges — and rewards — for heirs who inherit these so-called digital assets." Most programs allow customers to bequeath their points, but the process can be cumbersome. Members who want to will their points should list their awards programs in a separate document, including account numbers and email addresses. Loyalty programs will often require paperwork — including, sometimes, a death certificate or a letter from an executor naming a beneficiary. Others limit beneficiaries to the deceased's spouse or domestic partner. But "if first you hear 'no,' try and try again." Sometimes, said estate planning lawyer Dennis Delaney, "you have to push and go to the higher-ups." 

Recommended

Jamie Dimon 2024?
Jamie Dimon on Capitol Hill
Profile

Jamie Dimon 2024?

MoviePass stages a Hollywood comeback
MoviePass illustration
Briefing

MoviePass stages a Hollywood comeback

Nvidia joins the trillion-dollar club
Nvidia
Feature

Nvidia joins the trillion-dollar club

When corporate pride goes south
Protestors and Pride merch at Target
Briefing

When corporate pride goes south

Most Popular

Is Trump's wall working?
International Border Wall Between Tecate California and Tecate Mexico.
Briefing

Is Trump's wall working?

Can Chris Christie make a comeback?
A black and white photo of Chris Christie waving
Profile

Can Chris Christie make a comeback?

YouTube to stop deleting false claims about 2020 election
The YouTube logo seen in London in 2019.
Reversing Course

YouTube to stop deleting false claims about 2020 election