Tip of the Day: Don’t Use Home Equity Loans to Pay Off Other Debt (2/27/09)

For our tip today we have a video where Dennis Johnson talks about taking out home equity loans to pay off other debt—something he does not recommend.

Tip of the Day: Get Free Tax Assistance

If you live in Missouri and need of free tax assistance visit the University of Missouri Extension’s website by clicking here or on the picture below.

Our Community: Mississippi Building

We all know how the financial crisis is affecting us individually—layoffs, home foreclosures, and the loss of retirement savings. But how does the financial crisis affect area businesses? For a recent Living St. Louis segment producer Anne-Marie Berger shared the story of Paul Buzzetta, a local restaurant owner whose hopes of opening a new Sicilian restaurant have been put on hold because of the financial crisis.

Everyone’s being affected by the crisis, and we’re all in this together—individuals, families, and communities. If you’re having financial troubles, don’t be afraid to seek help—free, confidential resources are available. Call the United Way’s helpline at 1-800-427-4626 or visit their website, www.211missouri.org.

Tip of the Day: An Explanation of a Universal Default Clause (2/25/09)

Today’s tip features Dennis Johnson of ClearPoint Financial Solutions as he explains a universal default clause. This clause may be part of your credit card application, and it means your credit card company can monitor your credit history. So if you miss a payment with anyone, your credit card company can raise your minimum payment amount and/or your interest rate. It’s especially important to understand the terms of your credit card and to read everything your credit card company sends to you.

Tip of the Day: Have Emergency Savings (2/24/09)

In today’s tip Dennis Johnson of ClearPoint Financial Solutions and Eric Madkins of the Urban League of Metropolitan St. Louis discuss the importance of having emergency savings. They suggest having at least 3-6 months worth of living expenses saved, just in case something happens. Right now it’s more important than ever to be proactive and plan ahead. The more prepared we are, the better we’ll be able to weather this financial crisis.

Jay Nixon: Submit your economic stimulus package proposal

Governor Jay Nixon is offering Missourians the opportunity to submit their proposals for how the economic stimulus package money should be used in Missouri. As of the time this blog was published there were 557 proposals submitted. To submit your proposal go to www.transform.mo.gov, or click on the picture below.

Beacon-omics 101: Nationalizing troubled U.S. banks – should we be worried?

In this Mary Delach Leonard – of the St. Louis Beacon – explores what it means for the US Government to nationalize the banking system. To read this article click here or on the picture below.

Everyone needs help sometimes

Today, I ran across an article in the New York Times about an uptick in visits to food pantries. One of the main focuses was the fact that many people are ashamed to ask for help—as the crisis is affecting everyone, people who wouldn’t normally find themselves at a food pantry are suddenly there just in order to survive.

The Midwest is a proud place, with a lot of proud people. If you never thought you’d be in need of assistance, it’s that much more difficult to seek help. But help is out there, and the economy is affecting people of every race, class, socioeconomic status, and education level. Though it’s hard to ask for help, that’s the first step. We have trusted, confidential resources that can help you make a plan to get through this tough time. Call United Way’s 2-1-1 referral service at 1-800-427-4626 or visit their website at www.211missouri.org to get connected to trusted resources.

To read the article click here.

Tip of the Day: Go to the Library (2/19/09)

Today’s Tip of the Day is about finding free resources in tough economic times. Gerald Brooks – Director of Marketing and Public Relations for St. Louis Public Library – talks about some of the resources that you can find at your local area St. Louis Public Library. Free resources are also available at St. Louis County Library. Also, click here to check out this story – written by the St. Louis Beacon - to learn more about the public library system in the St. Louis area.

Getting the word out

One of the big conversations that we’ve been having at Channel 9 recently is how to utilize already existing community networks that already exist to get people connected to resources. For the last eight months we’ve been working at this by utilizing our capabilities on-air, online, and in the community, but there are still many people that don’t know where to go for help.

What we keep hearing consistently is that the only way that we can do this is through people like you. The Facing the Financial Crisis initiative is not about Channel 9, or even about our partners. This initiative is about finding ways to work together to strengthen our community. In order to do this all St. Louisans must work together to help their families, neighbors, and communities respond to this financial crisis. As a community resource, Channel 9 is responding by making sure that peolpe know where to go for help.

In order to do this we are using our traditional broadcast capabilities, but we are also using this website and really getting out into the community ourselves and through our partners. Please help us proliferate this information by forwarding on the resources contained in this website AND by getting out into your communities. To assist in getting the word out we’ve asked our 26 community partners for feedback on what an effective community resource flyer would like. We’ve taken their input and have created a flyer that can be distributed throughout the St. Louis community. To download and print this flyer click on the link below, and remember that the only way we’re going to come out of this crisis is by supporting each other.

Community Resource Flyer