Jean Chatzky blog :: The Difference :: Personal finance, debt, and money advice » Debt

Money 911: Maximizing your tax return

Jean — Wed, 01 Feb 2012 15:45:31 +0000

This morning on Today‘s Money 911, we heard from a woman who wanted to know how to use her $10,000 tax return. Should she: pay off student loans, pay off her credit cards, or boost her emergency savings? To see what we told her, plus tips on taking Social Security, check out the video clip below.

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Money 911: Applying for store credit cards

Jean — Wed, 11 Jan 2012 16:01:56 +0000

During the holidays, many retailers try to entice you to sign up for their store credit card by promising additional deals and savings. So should you take the bait? To find out the answer to that question — plus tips on balancing medical bills and paying for school — check out the video clip below.

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Money 911: Lending money to in-laws

Jean — Wed, 30 Nov 2011 15:47:56 +0000

This morning on Today‘s Money 911, we heard from a woman whose mother-in-law asks her for $50 each month, and has been doing so for about a year now. Should the daughter-in-law continue to say yes? To see what we told her — plus why this might be a good opportunity to have a family finance conversation — check out the video clip below.

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Today’s Money: The pitfalls of payday loans

Jean — Wed, 30 Nov 2011 15:35:32 +0000

It may be a fast solution for those in need of extra cash, but a payday loan isn’t without its pitfalls. The interest rates can be as high as 600%, and studies have shown that the average payday borrower takes out nine different payday loans over the course of a year, so this interest rate, plus additional fees, can add up. For more information on these tricky loans, check out the video clip below.

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Money 911: Should you dip into your IRA to pay off debt?

Jean — Wed, 09 Nov 2011 15:41:04 +0000

This morning on Money 911, we heard from a woman who wanted to raid her retirement account to pay off credit card debt. To see what we told her — as well as whether it’s better to get a fixed or variable rate student loan — check out the video clip below.

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New York Daily News: Your student loan payback plan

Jean — Thu, 27 Oct 2011 14:35:32 +0000

On Tuesday, President Obama announced a new plan to help ease the burden of student loans, vowing to use his executive power to expedite a program that will cap loan payments at 10% of a graduate’s income. This was a timely announcement, as two weeks ago the Federal Reserve Bank of New York reported that the amount of outstanding student loans in this country has reached the $100 billion mark. The numbers are frightening, to be sure, but the reality is that paying off your student debt doesn’t have to be quite so scary. In my latest New York Daily News column, I outline the simple steps you need to take to effectively pay off your loans.

Money 911: Should you marry someone with a large debt load?

Jean — Wed, 26 Oct 2011 21:09:46 +0000

Would you marry someone who is $700,000 in debt? That was the question du jour on Money 911 this morning. To see what we told the caller — plus tips on switching banks and avoiding fees — check out the video clip below.

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Today’s Money: The burden of student loan debt

Jean — Tue, 25 Oct 2011 13:27:14 +0000

For the first time ever, the outstanding balance of student loans in the U.S will reach $1 trillion this year. As tuition prices have soared, families are struggling to keep up — and are often taking on a higher debt load than they should. This morning on Today, I spoke with Savannah about the value of a college degree, and offered up some simple rules of thumb for borrowing. To see our conversation, check out the video clip below.

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Money 911: How to rebound from bankruptcy

Jean — Wed, 28 Sep 2011 18:02:54 +0000

Filing for bankruptcy can be a difficult thing: it provides a blank slate, but it can also be tough to start anew. This morning on Money 911, we talked about what you can do to rebuild after bankruptcy. We also addressed paying off law school loans vs. 401(k) contributions and how to overcome a bad credit report. To hear our tips, check out the video clip below:

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Credit.com: Debt Diet Challenge, Week #8

Jean — Fri, 23 Sep 2011 18:09:36 +0000

With each passing week, my Credit.com Debt Diet participants get savvier and savvier about paying off their debt. This week, one learned the psychological benefits of paying off bills as they come, rather than in one chunk at the end of the month. Another learned to break her goals into smaller steps so it’s easier to see the progress. For more on what they’re learning and how they’re doing, see what the Debt Diet participants are blogging about this week.