“Is there an honest Debt settlement program? I have been looking at the Freedom Debt Relief program and feel frozen since I hear so many bad things about these programs in general. I have not yet had a late payment, and now have no job, so no money, and cannot make the minimums.” – Vici
Vici,
Thanks so much for writing. You’re hearing so many bad things about debt settlement programs for a reason. Although there may be a few good ones, most charge thousands in fees and don’t deliver results. Take a look at this story from the front page of the New York Times. The article lays it out, More…
Did you know that almost 60% of Americans don’t have a will? It’s true, and, in my opinion, it’s not because we don’t understand the importance of that legal document. No, I think something else is standing in our way, particularly in the way of parents: Naming guardians for our children.
When you create a will, your lawyer will help you with the legal language – or you can find a template on a website like LegalZoom – but it’s up to you (and your partner, if you have one) to select someone to care for your kids if something should happen to you. Heavy stuff, I know, and not the kind of thing parents like to think about. Which is why we put it off. More…
HOW: Some people, when they think of retirement, think of golfing, beach houses, and sleeping in – a far cry from Cynthia Hayes’ retirement dreams. They included launching a business that, not so coincidentally, would help others save for and achieve their own retirement goals. “I was feeling a bit uninspired and unfulfilled,” says Hayes, formerly a Managing Director at Merrill Lynch, “plus, I had always targeted age 55 as the time to do something on my own.” So when Merrill offered her a voluntary early retirement in April of 2008 – months before she had planned to make the jump – she leapt and started work on her new project. One full day (literally), some phone calls, and a Linked In account later, Hayes was in business. More…
I had so much fun last night talking to hundreds of mark.girls on their national call/webcast. At the end, I said send me your questions and I’d do my best to post answers. Allison wrote:
Hello Jean: Listening to you in our national sales call was great! I just have a question. I’m having some problems credit wise. #1 I don’t know what my credit looks like and I don’t trust the websites to check it. Any suggestions? #2 I don’t think I have established my credit at all, is there a way you recommend to establish and build it with out a cosigner?
Hi Allison: Good question. You can — and should — know what your credit looks like, starting with whether you have a credit history at all. Go to annualcreditreport.com and pull a free credit report from one of the three major credit bureaus. More…
I had the pleasure of being a last-minute pinch hitter on the Women and Finance Panel at the 92nd Street Y this past Wednesday, joining Alexandra Lebenthal, Karen Finerman and moderator Julie Menin. (Suze Orman’s emergency appendectomy pulled her away – get well, Suze!) The idea for the evening grew out of informal salons that longtime friends, now business partners Finerman and Silda Wall Spitzer, have been holding to give women a chance to ask their questions – all their questions – about money. Over coffee, Spitzer and Menin (another friend) decided to try to bring the salons to a bigger forum. Later that day Spitzer ran into the head of the 92nd Street Y and – voila. More…
For tips on everything from selling your old jewelry, coming up with the money lost on a home sale to make your next down payment, taking out student loans, and understanding your credit report, watch the video below from this morning’s Money 911. The experts panel tackled your tough money questions one by one — if you have your own questions, submit them here!
My friend Jeff Yeager knows all about living happily within his means, so I was excited when he agreed to write a post here on my blog to share some of his research and experience on the topic. Check out his post below, and for even more “Cheapskate” tips, check out his new book, The Cheapskate Next Door.
“Sure, we could afford to spend more, but why would we? It wouldn’t make us any happier.”
Those are the words I’ve spent the last two and a half years traveling the country to hear. It’s a simple but rare statement, given that nearly half of all Americans say that they literally live paycheck-to-paycheck and have little if any savings. How can some people live not only within their means, but substantially below their means, even when their incomes are often less than the national average? And here’s the biggest question of all: How can some of those same people insist that they are happier – joyous really – because of their thrift and frugality?
Our financial situation has changed drastically in the past couple of years, and even after scraping up every last penny, we’ve gotten to the point where we can no longer make all of our monthly payments. We have been looking at out options, but are pretty confused. Can you explain to me how debt consolidation works? – Carol, Florida
Carol,
Debt Consolidation is a process where you roll all or some of your debts into a single loan, preferably at a lower interest rate than the ones you’re paying now. This idea is good in theory, and in some cases in practice. But there are also predators in the industry who will charge you thousands of dollars and pressure you into making a decision that’s not in your best interest. Instead of giving them your business, try to consolidate yourself using a Home Equity Loan or Line of Credit (HELOC), by refinancing your mortgage, or taking out a personal loan at a lower interest rate. Then take the new, cheaper loan, and use it to pay off credit cards, car loans, More…
With tighter rules in place regulating what banks can charge you for and when, customers are seeing more and more fees pop up on their banking services. This morning on the TODAY show, I talked about ways you can protect yourself from some of these new fees – and later, I came back to answer some of your questions about banking and credit card fees and how you might be affected. Watch the clips below for help — and if you have more questions, ask them here!
We’re well into summer, and in just a few short months, your kids may be heading off to college – many for the first time. I know the to-do list is a mile long at this point, on it everything from purchasing a shower caddy to sorting out those student loans.
But at some point before you drop your freshman off, I encourage you to sit down, together, and make a budget. Whether she’s getting a job, you’re providing her with spending cash, or a combination of the two, you want to make sure that the well hasn’t run dry come October. Here’s a crash course in how to do it, as well as some sample budgets and a worksheet to get you started. More…
“Is there an honest Debt settlement program? I have been looking at the Freedom Debt Relief program and feel frozen since I hear so many bad things about these programs in general. I have not yet had a late payment, and now have no job, so no money, and cannot make the minimums.” – Vici
WHO: Cynthia Hayes
Hello Jean: Listening to you in our national sales call was great! I just have a question. I’m having some problems credit wise. #1 I don’t know what my credit looks like and I don’t trust the websites to check it. Any suggestions? #2 I don’t think I have established my credit at all, is there a way you recommend to establish and build it with out a cosigner?
I had the pleasure of being a last-minute pinch hitter on the Women and Finance Panel at the 92nd Street Y this past Wednesday, joining Alexandra Lebenthal, Karen Finerman and moderator Julie Menin. (Suze Orman’s emergency appendectomy pulled her away – get well, Suze!) The idea for the evening grew out of informal salons that longtime friends, now business partners Finerman and Silda Wall Spitzer, have been holding to give women a chance to ask their questions – all their questions – about money. Over coffee, Spitzer and Menin (another friend) decided to try to bring the salons to a bigger forum. Later that day Spitzer ran into the head of the 92nd Street Y and – voila. 
“Sure, we could afford to spend more, but why would we? It wouldn’t make us any happier.” 
Our financial situation has changed drastically in the past couple of years, and even after scraping up every last penny, we’ve gotten to the point where we can no longer make all of our monthly payments. We have been looking at out options, but are pretty confused. Can you explain to me how debt consolidation works? – Carol, Florida
