Jean's Blog

Simplify, Simplify, Simplify

Earlier this morning I joined the folks at Morning Joe to talk credit. Watch the video below to hear why some credit card companies are going back to tacking on annual fees, my take on why financial language needs to be simplified and more.

Another Round of Your Questions

This morning I answered a question from Lauren, a viewer who was actually part of another Money 911 segment last May. Since that time she’s had some trouble getting approved for a credit card. Watch the video below to hear my tips for how she can increase her chances of getting approved.

Debt Diet: New Tools to Help You Pay it Down

About a week and a half ago, I released a new version of my best-selling book, Pay it Down!  The updated version still includes my tried-and-true Rx for getting out of debt on $10 a day, but it also takes into account the changing times, including the CARD Act of 2009, a tighter credit market, and your tighter wallet.  Even if you’ve read it before, there’s enough new that you may want to think about reading it again.

But I also took it a step further, and developed an online program, Debt Diet Online, that launches today on this website.   More…

Entrepreneur Fridays: Steaz Teas

WHO:Eric Schnell and Steve Kessler

WHAT: Steaz: The Healthy Beverage Company. Steaz is the maker of USDA Certified Organic and Fair Trade Certified beverages, including iced teas, green teas and energy drinks. They’re the best-selling natural Energy Drink brand in the U.S.

WHEN: 2001

WHERE: Newton, Pennsylvania

HOW: Kessler and Schnell met in the 90’s while working at health food companies. The same family owned both companies and the duo worked together on the launching of over 1,000 products. “One day we said that we could create a company that really makes a difference in the world; we had a great idea-making soda healthy,” says Schnell. Their vision was to take a familiar taste and make it healthier. “We decided to change soda and make it healthy. We put green tea and organic ingredients in carbonated water,” says Schnell.

Schnell and Kessler took their idea and did what I typically tell people not to do. “We used every nickel in the bank, mortgaged our houses, took out credit cards and maxed them out…all the crazy things entrepreneurs do. We believed in the concept,” says Schnell. The gamble eventually paid off. With about a half a million dollars in seed money, Kessler and Schnell began to build their brand. They worked tirelessly to promote their brand and six months before it’s official launch they left their 9 to 5 jobs.

Today, their business More…

Ask Jean Thursday: Interest Rate Insights

QUESTION: This morning on your segment, you said we as consumers can opt out of any new interest rate set by the credit card companies as long as we close the account and simply pay off the balance. This theory is correct on four out of five accounts of mine. One company told me there was no opt out options and I would HAVE to pay their new, higher percentage rate. Is this illegal on their part? What can I do?

-Brad, South Dakota

ANSWER: Thanks to new credit card reform laws, it’s becoming easier to opt out when you’re hit with a higher interest rate. However, the date in which the notice reflecting your change in terms was mailed will affect whether or not you’re able to opt out of the new interest rate you’re asking about.

If your notice was mailed before August 20th, 2009, then you may be out of luck. This is due to the fact that the portion of the Credit CARD Act of 2009 that outlined the rules for disclosure of contractual changes went into effect on that day. As the law stands now, your credit card company must give you at least 45 days notice in advance of any interest rate hikes. This wasn’t always so. More…

Doing Away With Debt

This morning on the fourth hour of Today, I was joined by the Hildebrandts, a couple that was able to pay off around $123,000 worth of debt. Watch the video below to hear how they did it.

Making Sense Of Your Money Emergencies

When is it a good idea to refinance your mortgage? How should you handle old debts? Watch the video below from today’s Money 911 segment for answers to these questions and more. Have a money emergency that you need help with? Click here to share your situation.

Credit Card Changes

Interest rate hikes, increases in annual fees and higher balance transfer fees are just a few of the changes taking place in the world of credit cards. How can you protect yourself? Watch the video below to find out.

What To Do With A Salary Slim Down…

After getting laid off from her magazine job, Amanda Ernst started freelancing to try and make ends meet. The challenge? Living on about half of what she was making before. Watch the video below for tips on how you survive when your income takes a hit. Think you need a Mini Money Makeover? Click here to tell me your story.

Paying It Down Again

Later this month, I’ll be releasing an updated version of my bestseller “Pay It Down!” The “credit crunch edition,” is filled with tips for today’s economy on how to get out of debt in as little as ten dollars a day. Follow me on Twitter where I’ll be tweeting one tip a day from the book until its release.