Tips on holiday tipping & I'm OOO, really!

'Tis the season for eggnog, ugly sweaters and tipping the people who give so much to us throughout the year. 

Figuring out who gets what, however, can be tricky.

In our household, I am in charge of gratuities. But I can never remember who I give what, so I keep a note on my iPhone with names and tip amounts, which I update throughout the holiday season.

And this year, thanks to inflation, I'm boosting my payouts.

Spread some more holiday cheer with these handy tips on tipping. And if you're wondering about the etiquette of tipping via Venmo, read this.

No matter how you tip, be sure to include a personal note or card, because everyone can use some extra recognition and TLC.

Got more thoughts or additional tips to share? Please send them to me at onthemoney@thomsonreuters.com.

I've never been a fan of store credit cards, but sometimes the introductory deal seems too good to pass up, especially when purchasing big-ticket items. 

You might get a discount on today's purchase and even a 0% interest rate for an introductory period.

Alas, some store credit offers are trip wired with something called "deferred interest" which can be a nasty little debt bomb.

If you don't pay off the balance in full by the end of the promotional period, you'll owe interest on the entire purchase amount from the original date. That means you could end up paying 27.5 times more compared to general purpose credit cards which do not use deferred interest, according to a new study by financial information site WalletHub.

In the site's review of store cards offering 0% introductory rates, 85% of them are using deferred interest.

So how can consumers protect themselves from a high-interest surprise? Here are five factors to consider.

If you've taken advantage of a store credit-card deal, let me know why and what you got in return at onthemoney@thomsonreuters.com.

And, for the latest finance news, be sure to bookmark our Finance page.

Fed ahead. Michael Landsberg, chief investment officer at Landsberg Bennett Private Wealth Management, said that by indicating just two planned rate cuts for 2025, Federal Reserve Chair Jerome Powell "is telling the marketplace, 'I'm my own person.'" Watch here.

Student debt is one of the reasons more adult children are moving back home to save money. REUTERS/Nathan Howard

According to Thrivent's 2024 Boomerang Kids survey, 46% of parents have experienced adult children ages 18 to 35 returning home to live with them, up from 35% last year. Inflation, the high cost of housing and student debt are among factors fueling this trend. 

The big problem is that boomerang children are threatening their parents' retirement, too.

I have more than a dozen friends with adult kids currently living at home, and I would not be surprised if our own children return to the nest for a while after college, fellowships and graduate school. 

That said, experts say it is crucial to ask boomerang kids to contribute financially in some way – it could include paying rent, buying groceries or pitching in with car payments.

If you have adult kids at home, how are you handling money issues? Got any tips to share? Let me know in the comments or email me at onthemoney@reuters.com.

Vacation, all I ever wanted. REUTERS/Shannon Stapleton

I'll be on vacation for the rest of the year, so happiest of holidays, dear readers! 

And I have a present for you: My secret trick to combat the inevitable email explosion that occurs while I'm out of the office. It's very simple – I declare email bankruptcy.

To avoid drowning in messages upon my return, I'll be setting my out of office greeting with the following message:

I'm OOO until January 2. Please get in touch when I return.

Here's why. 

P.S. To make you giggle.

Now this is the really fun part! All you need to do upon your return is DELETE YOUR INBOX. If it's important, folks will follow up.

That's my tip to maintain sanity upon your arrival back to work.

If you try it, let me know how it worked. And...ho ho ho!

Q. I am retired and 71. I have several health issues including diabetes and osteoarthritis. Can I buy long term care insurance? – @lwilsonk

A. The ideal timeframe to purchase long-term care insurance is usually between age 50 and early 60s, says Marie Norkett, a certified financial planner and senior wealth adviser at SageView Advisors. 

"As we get older, there is more chance of developing health conditions that can render someone uninsurable for long-term care purposes," Norkett says. "Also, as we approach the age where we may need that coverage, the premiums are likely to increase substantially."

That being said, at age 71 with health issues, you may find your choices for coverage very limited – and very expensive. 

Norkett's advice? Talk to an insurance broker who can request quotes to see what might be available.

Are you wondering if you should buy critical care coverage? Do you need to find money to pay next semester's college tuition? Send your personal finance questions to onthemoney@thomsonreuters.com, and I'll tap my extensive source network and braintrust for expert advice.

Reuters On the Money is sent every other week. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here.

Want to stop receiving this email? Unsubscribe here. To manage which newsletters you're signed up for, click here.

Terms & Conditions and Privacy Statement