On this week’s Money 911, the panel tackled your tough money questions, like how to navigate through your new retirement fund, how student loan reform will affect you, and more! Watch the video below for answers — and if you have a question yourself, click here to submit it!
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A couple of weeks ago, I answered a question about how your account and credit score could be affected when a bank-issued credit card’s provider changes. The reader, Brian, then followed up with a question about account age – which I’ve answered below!
I understand that a long history with an account affects your credit score. This account was probably a 12-15 year old account – but will it now show as a new account? — Brian
Account age, which accounts for about 15% of your credit score, affects your credit for a few reasons. Primarily, it’s because credit scoring models have shown that people who have older credit are less risky as customers. Lenders like to see that you’ve been able to maintain a long-term relationship with a creditor, because it shows that you’re a good customer. But how your score is affected by account age depends on several factors. More…
Foreclosures are up since 2009, but the facts and figures now include more and more homeowners choosing strategic foreclosure. What is strategic foreclosure? When is it the right step? How will it affect your credit score? Watch the clip below from this morning’s edition of TODAY for my take on the topic.
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This morning on the TODAY Show, Alison Brower of Redbook Magazine and I talked about some of those little bad money habits that can end up costing you in the long run. How can you kick the habit and kick-start your finances? Do the math on your credit card debt, automate your savings, plan for your retirement, budget instead of splurge, know how to manage your investments, and keep a good eye on your finances. Watch the video below for tips!
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This week, I invited Michelle Madhok, the founder of Shefinds.com and MOMfinds.com, two websites I love when I’m looking for a deal, to guest post about her tips for shopping for children’s items online.
We’ve all complained about circling the mall for a parking spot, and having to pile the car seat, diaper bag, changing pad, and bag of snacks into the car just for a simple shopping trip. But these days, that’s all pretty unnecessary: Moms can find better bargains – in less time – online.
At MOMfinds, we search out these deals daily – from sample sales for kids to cheap diaper bags.
Learn how to shop online like us with the simple tips below – we do it all day, so we’ve learned a thing or two about scoring a deal. More…
WHO: Amy Reiss and Melissa Carr
WHAT: Home Sweet Home Video — Home Inventory Services
WHERE: Pacific Palisades, California
WHEN: 2006
HOW: After struggling through the death of her mother and stepfather, the last thing television producer Amy Reiss wanted to go through was the emotional and financial stress of dividing up her parents’ belongings. “The legal issues relating to their trust and the identification of personal belongings became an emotional and financial ordeal for all involved,” says Reiss.
Melissa Carr, on the other hand, had recently relocated. Leaving behind her own furniture store in Colorado, she had started working for an L.A.-based company that staged homes for sale – but missed working for herself. The two met working freelance projects on a TV show – and the gears began turning. Both in need of full-time work, and excited to try something new, the two friends began to brainstorm about they way their skills could mesh into a unique company. More…
Recently, my husband and I spent a week in Argentina. We traveled from the fabulous city of Buenos Aires to an estancia, or ranch, in the Pampas to the wine country in Mendoza. It was a fantastic vacation (a belated honeymoon, actually). The food throughout the country – particularly the famous Argentinean rib eye – was as good as I’d been told. (Hot tip: Keep an eye out for Francis Mallmann, the Bobby Flay of Argentina. He has cookbooks, restaurants and a television show. I fully expect to see him soon on “Iron Chef.”) The people, who stopped us on street corners whenever we consulted a map to see if they could help, were as friendly as reported. And the strength of the dollar made spending money on everything from dinner ($65 for two including wine) to fantastic designer handbags (about $80 each) a kick. More…
On this morning’s Money 911, we covered a variety of your financial questions. Do you have questions surrounding the recent student loan reform bill? Which debts should you focus on paying off first? Watch the video below for answers to these questions and more!
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“I recently got engaged, and am looking to prepare financially for life after our wedding. I’m not sure what we should do about things like taxes and health insurance. We’re just a little confused about what we should be doing.” – Amanda, Arizona
Well, first of all – congratulations on your engagement! I’m glad that you are thinking ahead about how your life will change financially once you tie the knot. It’s important to have that money talk now, rather than let it slide until applying for a mortgage reveals credit card debt you didn’t know your spouse had.
So what should you do first? Ask – and answer – the following questions: What do you own? What do you earn? What do you owe? And what do you spend? Being open and honest about these things opens a platform for discussion, and allows you to plan for your future. You’ll be able to make the right decisions about opening joint bank accounts and credit cards (I, personally, prefer the yours, mine and ours system, in which each partner has his or her own bank account, and they share a joint account for household expenses). More…
This morning on NBC’s TODAY, we featured Sarah, a mother of a special needs child, who had concerns about how to plan for her family’s future. From writing a will to setting up a special needs trust, we broke down the basics for what to do in this particular circumstance. Watch the clip below!
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