June, 2009

MONEY 911

The Lost Episode

Just came across this Money 911 segment from May 13th that was never posted, and thought I’d take a minute to share. Better late than never, right? And the advice is still as good as ever. Check it out:

Ask Jean Thursday: Cash for Your “Clunker”?

This week’s question comes from Mark in Waukesha, Washington. He writes:

“We have a car loan, which will be paid off late this summer to early this September. We are considering getting rid of a 1998 Oldsmobile SUV due to gas prices. Is it a good time to buy a new vehicle or a used vehicle or should wait until auto industry quiets down?”

Answer: With the auto industry in turmoil, there are some exceptional deals out there if you’re looking buy either a new or used vehicle. If you plan to have your car loan paid off in the coming months, and you’re in otherwise good financial standing, it could potentially be a good time for you to take advantage of the deals available to consumers.   More…

MONEY 911

Answers to Your Money Questions

This morning’s Money 911 segment on Today covered all the bases:  We talked about whether debt can be inherited, what financial steps to take after you have a child, and what your options are if you reach your insurance policy’s lifetime maximum. Watch the video for more:

Guest Post: Giving a SUNY School the Old College Try

Hi readers. I’m Julia Venditti, a senior at a high school in Westchester County, NY. I intern with Jean as a last semester class alternative for seniors. Recently I had a job interview and was asked to relate my largest obstacle of senior year. I knew immediately what to say because it was something that I had struggled with for months. I had put everything I had toward achieving my dream. And then I decided that my dream came with too high a price tag.

Early in my senior year, I diligently devoted my attention to college applications. I applied to NYU Early Decision and couldn’t fathom any alternatives. I love New York City and knew I’d always end up there. I love that NYU is practically an international institution and day dreamed about meeting people from foreign countries. Perhaps a friend would whisk me to Brunei on Winter break. Or maybe one of my NYU film buddies would land a spot in Sundance and ask me to accompany him. I felt like anything could happen at NYU. I felt like there was no opportunity for mundane monotony and my life would finally begin. While my indecisive sister applied to 18 colleges in her senior year, I applied to just four (two of which were SUNYs that I applied to as a fallback due to the competitive nature of NYU).

My dad reminded me how challenging it is to get into NYU and urged me to be realistic. On a daily basis, he recited statistics that made my goal seem unattainable. In high school, I was not at the top of my class and I wasn’t the most dedicated student. Nevertheless, I finished high school with a solid GPA and excellent SAT scores. But my dad was convinced that NYU, one of the most competitive schools of the nation, wouldn’t be impressed. He often said, “Stop fooling yourself; they turn down Valedictorians at NYU!” When I did get in, he was floored. I was elated. The next day, I came into school with my NYU sweatshirt on and an ear-to-ear smile firmly in place. I had never known any greater pleasure.

It wasn’t until some time later that the hard part came. More…

Random Thoughts On A Beautiful Saturday

* What is it with this weather?  It’s rainy — at least in my part of the country — during the week, then beautiful over the weekend.  Been this way for the past several weeks.  I suppose it’s better than the other way around.

* Money saving tip of the week: Discount parking.  Before driving into New York or another big city, decide where you’re going to park then print out a coupon to do it on the cheap.  What I like best?  Tax (which is a killer in NY at 18 percent) is included!!

* Another form of id theft to worry you?  Medical id theft, as reported by my pal Wally Konrad in today’s NYTimes. How can you avoid it?  The Times suggests: Keep track of your insurance cards, ask for a copy of your medical records on a regular basis, ask your insurer for a yearly list of everything billed to you.  And, it should go without saying, this is another reason to check your credit report — for free — every four months (pull them on a rotating basis) at annualcreditreport.com.

* New to me…. I’d heard of internships.  But Doug Hirschhorn, a guest on my radio show this week, suggested that people of all ages looking for a job consider offering to take the job for a test drive — without pay — for two to four weeks.  Evidently, it’s a pheonomenon.   But I’m on the fence, does it make you look like you really want the job?  Or like you have no other options?  What do you think?

* Time flies.  Last night, I went for the first time to see a tradition in my little village.  Before the senior prom the entire senior class gathers in what we call the pavillion and much of the population comes to take pictures and give them a send off.  Amazing to see these kids whom I remember from their middle school days looking like grown-ups.  What to do with those dresses when you won’t wear them again?  How about donating them to the Cinderella Project so other girls can go to their proms next year (bridesmaid’s dresses too….).

Have a great weekend!!