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.
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.
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.
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.
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.
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.