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Elizabeth Smith

Credit Card, Savings and Retirement Expert

Liz Smith is a graduate of New York University and has been passionate about helping people make better financial decisions since her college days. Liz has been writing for SmartAsset for more than four years. Her areas of expertise include retirement, credit cards and savings. She also focuses on all money issues for millennials. Liz's articles have been featured across the web, including on AOL Finance, Business Insider and WNBC. The biggest personal finance mistake she sees people making: not contributing to retirement early in their careers.

Posts by Elizabeth Smith:

by Elizabeth Smith Mar 16, 2018

Many of us have experienced that heart-sinking moment when you get to the ATM or cash register only to discover you don’t have your debit card. Perhaps you dropped it in the parking lot or someone snagged it from your wallet. Either way, your missing debit card could pose some problems like missed rent payments and fraudulent charges. There’s no need to panic, though. Follow these steps to ensure your finances stay safe. Read more

by Elizabeth Smith Aug 26, 2021

When it comes to financial health, it isn’t just about making more and more money. No matter how much money you’re making, you need to be saving a significant chunk of your funds. This comes in handy in case of emergencies or unexpected expenses. It also isn’t enough to stash away wads of cash under your mattress, which leaves your money vulnerable to fire or theft. A savings account allows you to not only keep your money safe and insured, but you also get to grow your money according to a financial institution’s set interest rates.  Read more

by Elizabeth Smith Jan 25, 2021

When you start a new job, there’s a lot of paperwork to fill out, from direct deposit documents and benefits enrollments to your W-4 form. But when you’re a contractor or self-employed person, income taxes work a little differently. You will still have to report your earnings to the IRS, and the companies that use your services will have to report those earnings, too. That’s where the W-9 form comes in. Planning out your taxes is just one aspect of your financial plan. Talk to a financial advisor in your area today. Read more

by Elizabeth Smith Feb 19, 2020

While most people keep the majority of their money in savings and retirement accounts, it’s also important to have cash accessible for everyday expenses. That’s where checking accounts come in.… Read more

by Elizabeth Smith Sep 09, 2021

Offering a higher interest rate than a regular savings account with the accessibility of a checking account, a money market account is a great place to stash your emergency savings. The hybrid kind… Read more

by Elizabeth Smith Nov 20, 2018

Chances are, you’re pretty intimate with your checking account. This type of account is typically used for regular spending. You may even move money in and out of it multiple times a day. The best… Read more

by Elizabeth Smith Aug 01, 2019

Most of us rely on financial instruments to keep our savings safe, but it can be hard to know if you’re saving enough. Evaluating the average savings account balance across the country is a good… Read more

by Elizabeth Smith Jan 15, 2020

A credit union is a lot like a bank, but with one big difference. It’s not for profit. So it’s not taxed. In theory, this allows it to pay higher interest rates to savers and charge lower interest… Read more

by Elizabeth Smith Jan 25, 2021

As you get older, you start thinking more about retirement distributions than contributions. One of the biggest questions that near-retirees have is, “What is the best age to start collecting Social… Read more

by Elizabeth Smith Dec 20, 2017

Any money that you put into your 401(k) is yours. But when it comes to employer match contributions, things work a little differently. To own any portion of your employer’s contributions, you’ll need… Read more

by Elizabeth Smith Jul 08, 2020

Advertiser Disclosure: The card offers that appear on this site are from companies from which SmartAsset.com receives compensation. This compensation may impact how and where products appear on this… Read more

by Elizabeth Smith Jul 09, 2018

Frequent travelers know that making a purchase overseas can cost more than the price tag indicates. Unless you have one of the best travel credit cards, you usually end up facing a couple of fees… Read more

by Elizabeth Smith Dec 10, 2019

Between Netflix dramas and bad press, working in Congress might seem like a walk in the park. Filibusters and government shutdowns tend to dominate the headlines. In 2017, the House of… Read more

by Elizabeth Smith Dec 13, 2019

Taking money out of a 401(k) is a big decision. The specifics of how to take money out of a 401(k) plan depend on your age, employer plan, whether you’re still working for the company that sponsors… Read more

by Elizabeth Smith Jan 20, 2021

A SIMPLE IRA is an excellent tool for small business owners to help their employees save up for retirement. This type of retirement account combines features of both the traditional IRA and the 401(k… Read more

by Elizabeth Smith Jan 20, 2021

When it comes to saving for retirement, you have a ton of options to choose from. Do you open a traditional IRA or a open a Roth IRA? Both can help you save for retirement, but while a 401(k) is a… Read more

by Elizabeth Smith Nov 24, 2017

Ever wondered where your credit report and credit score come from? These crucial tools in the financial world don’t just spring up by themselves. They are created by credit bureaus, companies that… Read more

by Elizabeth Smith Jul 10, 2018

The term fiduciary is a good thing to hear if you’re searching for a financial advisor. If a financial advisor is a fiduciary, he or she holds a relationship of trust with a client and abides by… Read more

by Elizabeth Smith May 15, 2018

Your money is important. As you strive to reach your financial goals, you may consider turning to a financial advisor. But expertise comes at a cost. Fees and compensation structures differ from… Read more

by Elizabeth Smith Mar 10, 2021

Aa 401(k) is an employer-sponsored, tax-advantaged retirement plan. You fund this account by contributing a set percentage of your paycheck into the account. One of the biggest perks of a 401(k) plan… Read more

by Elizabeth Smith Jan 10, 2018

Credit is a huge part of your overall financial health. Having good credit can get you the best rates when it comes to credit cards or mortgages. Conversely, having bad credit or no credit can mean… Read more

by Elizabeth Smith Aug 20, 2018

It’s not always easy to keep up with your finances. Sometimes one late payment turns into two or three. When creditors feel that you’ll never repay them, they often close your account and send your… Read more

by Elizabeth Smith Oct 16, 2017

Your credit report is a huge factor when it comes to meeting your financial goals. Whether you want to get a high-earning rewards credit card or buy a home, you’ll need at least a good credit score.… Read more

by Elizabeth Smith Oct 12, 2017

Have you ever used the term “credit card” when you actually meant your debit card? What about being unsure of which card to use? If so, you’re not alone! Credit cards and debit credits cards look… Read more

by Elizabeth Smith Jun 06, 2018

With payment plans, buying a car can be a reasonably affordable venture. The average monthly payment for a new car is around $480, according to Experian Automotive. A used car, on the other hand,… Read more