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Let's give you a financial fresh start how can you thrive in an economy filled the new rules and reforms.
The two most of us seem daunting well our next guest has a simple plan help you prosper -- that was real estate attorney and author of the book financial fresh start your five step plan.
For adapting and prospering in the new economy -- machinery.
Also as she joins us now share and Ecstasy use thank you so much for having me the -- of the new economy.
It -- the phrase we I guess we throw out there but it really has a new definition what is the new economy and me.
Well you know the folks so I help who reach out to me on a regular basis are dealing first with a homeowner about homeownership values that have just plummeted.
After that most people saw their retirement and savings accounts just crash.
We're all -- grateful to have a job and not even expecting any kind of bonuses or raises as far as that goes and now.
All these government -- we don't really know how they're gonna impact -- so I think for average people it really boils down to feeling.
Very overwhelmed very uncertain and just not sure who the -- test and you're point is -- We tend to think veto Dodd-Frank of the credit card accountability after the responsibility and disclosure act as things that affect Capitol Hill or Wall Street.
But not our own -- so let's talk about your five steps for what we should all be doing -- these things are coming in happening -- number one.
Adapt your banking and borrowing what does that mean.
Well and that's the tip of the iceberg because billions of our taxpayer dollars have been spent on these new rules and reforms and banks in -- -- spending billions of dollars a year now trying to figure out how to follow these rules.
-- just like any other business so they're gonna have to pass those costs on to their customers.
Which -- us.
So just like you might check out of place that offers a blow -- for your hair for an extra ten dollars.
You -- right I mean understanding like most women.
-- to consider our banking services the same way now because we're being charged in ways that we've never been charged before and that's not a onetime costs just like your blow dry.
That's hopefully -- -- -- more than once a month but that's a monthly recurring theme that we're in a candidate to -- sent hundreds of thousands of dollars it's on -- -- seventeen dollar charge -- count every month if you don't do XY and -- number two when -- -- fix your credit and -- people just ignore their credit reports right read and one of the things I love about these new rules is that we're all -- -- allowed to get our credit report once a year from annual credit dot com.
So the reason we wanna do that is because everyone's -- value leading -- based on our credit report now whether it's a landlord or potential employer.
And it's really easy there's a tool that most people aren't aware of it's called rapid re scoring.
But if you have problems with your credit one of the things you want to do when you review your report and we know that one in five people actually have errors they're not aware of on their credit report.
Is used as rapid re scoring tool you can get your credit fixed in a matter dates instead of months.
Let us through your next three tips initiative to get in there and then we can build on -- one of them protect your savings investments and retirement number four decide -- homeownership is right for you it's not right for everyone.
-- -- -- -- -- -- -- sounds good which one do you want to expand on well you know what let's talk about homeownership because I think it's so important and homeownership is it -- situation is different.
I'm still a huge advocate in owning your own home.
But here's a thing if you want that to work for you as a financial tool the plan have to be to -- it -- clear eventually and that's what 75%.
Of America's middle class has traditionally relied on for their safety net and we can still do that.
Pay off your mortgage says that's a good goal well you didn't read more of course in enough financial fresh start -- -- thanks so much thanks for having things.
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