In an attempt to avoid another mortgage crisis, the government recently passed a set of new rules that might affect your ability to get a mortgage. Over the weekend, I went on the TODAY show to speak with Lester Holt about what these new rules mean for you. To see our discussion, check out the video clip below.
This holiday season, I know you’ll want to give your loved ones everything their heart desires. However, fulfilling their wish lists shouldn’t put you into debt. In fact, a recent study showed that recipients don’t even care how much you spend on a gift — as I told Kathie Lee and Hoda this morning, it’s truly the thought that counts! To see our discussion about avoiding holiday debt, check out the video clip below.
Money issues can be complicated enough on their own, but when you throw family into the mix, it can turn into a mess. This morning on TODAY’s Money 911, we fielded questions about what to do when your family gets involved with your money. To see whether or not you should lend money to relatives — plus some tips on saving for college — check out the video clip below.
In the latest installment of Issue #1 (our new series examining the economic issues facing the country), I set out to answer a burning question: is a college degree worth it? To see what we found, check out the video clip below.
According to a recent Gallup poll, the the economy is the most important issue facing the country. As such, we’ve decided to start a new series at the TODAY show called “Issue #1: The Economy.” Its goal is to examine the economic issues that Americans are struggling with each and every day. In the first installment of Issue #1, we took a look at a family in Arizona who is living paycheck to paycheck and is struggling to make ends meet. To hear their story, plus my tips for getting started on the path to savings, check out the video clip below.
What to do when your credit card company won’t lower your interest rate? Hint: not nothing! There’s a way to get a better rate. To learn how, plus to find out whether or not you can raid a 401k to pay off credit card debt, check out the video clip below.
Yesterday morning on Money 911, I fielded a question from a woman who is getting ready to pay back her student loans. Should she pay down the interest or the principal balance first? And how would deferment affect her credit score? To see the answers to these questions, plus tips on saving for college, check out the video clip below.
I’ve watched you on TV for many years and I love your money advice!! I put a budget/plan in place about a year ago to pay back about $20,000 in credit card debt. My strategy is to pay more than the minimum on the highest interest card as well as calling each company every 5-6 months asking for an interest rate reduction.
What has prompted me to write to you today is a phone call I made last night to my Citi MasterCard. It’s my highest balance and highest interest rate card of 15.22%. In the past year I’ve called twice have that reduced from 19.99%. The man said he was looking into “a couple of programs” to see if the interest rate could be reduced. The first “program” was a minimal reduction, he didn’t say what that reduction would be. He looked at a second “program” and said wow, this one is much better. I can lower it to 9.22%!!
My question is how can these credit card companies be so arbitrary in their charges for repaying debt? The last phone call I made 6 months ago to that same card only got me a .25% reduction. How long was I really eligible for the “program” that allowed my interest rate to be lowered to 9.22%?
Thank you so much for your time!! Look forward to hearing what you think about this!!
This is tough, because it does seem very arbitrary on the surface (and it may, in fact, be a bit arbitrary, because in my experience, it can really depend on who you talk to. If at first you don’t succeed, try, try again – and ask for a supervisor.).
But I called Citi to find out more about their process for lowering interest rates. This is what they told me:
This morning on Money 911, we heard from a woman who is considering consolidating her student loans, and was also wondering whether or not she should take out a personal loan to pay them off. To see what I told her, plus for information on exactly what a 529 account can be used for, check out the video clip below.
This morning on Money 911, we heard from a man who wanted to use proceeds from his parent-in-laws’ estate towards his children’s college costs. To see what we told him about opening a 529 account, plus for information on how long it takes for a credit score to rebound, check out the video clip below.