Jean Chatzky
Jean Chatzky
Jean Sherman Chatzkyis an American financial journalist, author and motivational speaker. Chatzky has given personal financial advice on various TV shows. She is the financial editor for NBC's Today Show...
NationalityAmerican
ProfessionJournalist
Date of Birth7 November 1964
CountryUnited States of America
lowering major
Eliminating or substantially lowering just one major monthly expense can give you enough cushion to move into a more comfortable place financially.
loans
I've never been a fan of loans between relatives or friends. They can divide relationships.
highlights
Our culture highlights the desire to always have more, even when we should be grateful for what we have.
settlement
If you'd asked me a few years ago about debt settlement companies, I probably would have told you to avoid them.
inevitable
You'll get much better results by being upfront, answering creditors calls, and responding to their letters. Delaying the inevitable only digs a deeper hole.
settling settlement forgiven
Debt settlement companies work as a middleman between you and your creditor. If all goes well (and that's a big if), you should be able to settle your debts for cents on the dollar. You'll also pay a fee to the debt settlement company, usually either a percentage of the total debt you have or a percentage of the total amount forgiven.
worry loan credit-card
In about one-third of credit card consolidations, within a short period of time, the cards come back out of the wallet, and in no time at all, they're charged back up. Then you're in an even worse position, because you have the credit card debt and the consolidation loan to worry about. You're in a hole that's twice as deep - and twice as steep.
home likely work
If you work in a home office, you can likely write off that space, as long as you use it only for work.
advice cut map money road similar tells time
I give out similar advice all the time: Take a month to write down where your money is going. By the end, you'll have a road map that tells you where you can cut back.
calling card immediate interest lower rate simply yield
Simply calling your credit card issuer and asking them to lower your interest rate may yield immediate savings.
long seven individual
You settled a debt instead of paying in full will stay on your credit report for as long as the individual accounts are reported, which is typically seven years from the date that the account was settled. Unlike with bankruptcy, there isn't a separate line on your credit report dedicated to debt settlement, so each account settled will be listed as a charge-off.
mind speak settlement
In most cases, if you've gotten to this point, you've already received a letter or phone message from your creditor with the name and extension of a representative. If you haven't, you can call the toll-free number on your bill, but keep in mind that the person who answers may not have the power to negotiate a settlement. Ask to speak to someone who is either a supervisor or in the settlement department, if the creditor has one (as many do).
days late past report seven stay
Anything past 90 days constitutes 'severe,' but all late payments stay on your report for seven years if reported.
aim boost build ease emergency expenses months three
Do you have an emergency fund? If not, build one - aim for three months of expenses to start, then boost it to six. It will ease your anxiety and get you out of a potential jam.