144 Quotes by Jean Chatzky

If you'd asked me a few years ago about debt settlement companies, I probably would have told you to avoid them.

Nontraditional students often have the misconception that aid is intended only for high school students entering college. Luckily, that's not the case.

Once the settlement is completed, the credit card company will report it to the credit bureaus, which will then make a notation on your credit report that that account was paid by settlement. That's going to signal to future lenders that you left the last guy hanging. That's why, as with bankruptcy, debt settlement is an extreme option, one you shouldn't take lightly. It's not just an easy, cheap way to eliminate debt.

No one anticipates divorce when they're exchanging vows, and it can be devastating emotionally and financially. To ease the financial side of the blow, you need to maintain your financial identity in your relationship. That means having your own credit history - you need your own credit card - and your own savings and retirement accounts.

Most people don't know this, but if you settle a debt for less than the amount you owed, you are potentially responsible for taxes on the forgiven debt. Look at it this way: You received goods and services for the full amount of debt, but you're only paying for a portion of it - sometimes less than 50%. Anything more than $600 is generally considered taxable, but the IRS will sometimes waive the tax if you can prove that your assets were less than your liabilities when the debt was settled.

One way to make sure you don't lose assets in the future is to streamline your accounts. Consider using one bank for all your banking needs and one brokerage firm for all your investments.

You won't be caught off guard and you won't feel guilty, because you'll be spending money that you've allocated for the occasion.

People with financial plans are much more likely to feel prepared, even in tumultuous times. They're more likely to feel that their dreams and goals are secure. And, oh yes, they do actually save significantly more.

Save for your goals. Take note of what's coming your way - vacations, the holidays, what ever is going to cost you money - and start saving ahead of time so that you have a stash when the time comes.