Feature

It's time for your midyear financial review!

And more of the week's best financial advice

Here are three of the week's top pieces of financial advice, gathered from around the web:

Doing a midyear financial reviewJune is an "ideal time" for a comprehensive financial checkup, said Kimmie Greene at US News. Start by taking a look at all of your fixed and discretionary spending. "Check out a budgeting app to begin tracking expenses," if you aren't using one already. Then, move on to savings. "All too often, savings are considered to be whatever is left over after bills and expenses are paid." But it's better to have a deliberate plan that addresses small and large goals. "Midyear is also a great time to check in and make any changes to optimize investment returns." Finally, do "some soul-searching on income." If you're not making enough to cover expenses, it might be time to start a side hustle. "Even a garage sale may go a long way."

Who pays for tree damage?If your tree falls on a neighbor's property, whose insurance pays for the damage? asked Kimberly Lankford at Kiplinger. In most cases, it's your neighbor who files the insurance claim. Homeowner's insurance should cover any damage to the house or other structures, while comprehensive auto insurance should pay for repairs on any vehicles. "However, if your neighbor can prove that you were negligent — if, for example, he had sent you a letter asking you to remove a dead tree that an arborist had determined posed a safety hazard — he may try to get you to pay for the damage." If you own your home, it's a good idea to have an arborist conduct a tree survey every year so you can deal with any problem trees before they fall over.

Considering travel insurance"If you're spending big for a vacation this summer, it's worth weighing another purchase: travel insurance," said Kelli B. Grant at CNBC. Before buying, add up the change and cancellation fees for your various travel arrangements and activities, like flights and theme park tickets. "If that total is more than you're willing or able to lose, then travel insurance is worth a closer look." A named-exclusion policy covers a "limited range of events and scenarios" and usually runs 5 to 7 percent of the cost of your trip. Cancel-for-any-reason coverage is just that, and usually costs 8 to 10 percent. You may also want to consider insurance with medical coverage if you're headed abroad, or to a remote area where getting to a hospital would require evacuation. Also remember: Many credit cards offer some form of insurance on travel arrangements purchased with the card.

Recommended

The daily business briefing: January 20, 2022
A plane lands at LAX
Business briefing

The daily business briefing: January 20, 2022

The daily business briefing: January 19, 2022
The Blizzard Entertainment campus
Business briefing

The daily business briefing: January 19, 2022

Microsoft's Activision Blizzard bailout
Bobby Kotick.
Picture of Ryan CooperRyan Cooper

Microsoft's Activision Blizzard bailout

New York AG seeks to compel Trump, Don Jr., and Ivanka to testify, details new fraud claims
Letitia James
Size Matters

New York AG seeks to compel Trump, Don Jr., and Ivanka to testify, details new fraud claims

Most Popular

California deputy DA opposed to vaccine mandates dies of COVID-19
Kelly Ernby.
covid-19

California deputy DA opposed to vaccine mandates dies of COVID-19

Joe Biden meets the press
President Biden.
Picture of Joel MathisJoel Mathis

Joe Biden meets the press

Fans raise thousands of dollars for animal shelters as part of the Betty White Challenge
Betty White holds an adorable puppy.
thank you for being a friend

Fans raise thousands of dollars for animal shelters as part of the Betty White Challenge