If you missed me this morning on NBC’s Today Show – Money 911, make sure you take some time and watch the segment. This week we helped some people with some BIG problems. One viewer’s ex-husband was ruining her credit score, another was a consumer considering defaulting on her debt, and then was one was having trouble with the fine print on those tricky 0% balance transfer offers we’ve all seen in the mail. There’s tons of information in the segment and hopefully it can help you too!
Also, Danny Devito was at there this morning promoting his new movie The Lorax—which I can’t wait to see! I also got the chance to take a picture with the Lorax himself, so check out the picture below! Will you go and see The Lorax when it comes out? I know I will!
If you missed me this morning on NBC’s Today Show – Money 911, make sure to watch the segment above! Today we answered questions about financing options for furnishing your home, getting help with your credit score, healthcare savings plans and what to do with this year’s return.
PLUS, I shot a special video for you, where I speak in depth about Flex Spending Accounts and Health Savings Accounts, what they are, what they are not, and how they could be a great option for you to help pay for your health care expenses!
Let me know if this information helped you by commenting below!
In case you missed me this morning on NBC’s Today Show – Money 911 – make sure to check it out now! We answered questions about getting your name off of a co-signed loan, tax deductions if you work at home, and what to do if you remarry someone that has debt when you have savings.
Let me know if this segment helped you by commenting below!
Is Valentine’s Day about love or money? My heart tells me it should be about love and appreciation for those who matter most to us, but the facts show that Valentine’s Day is truly big business and a billion dollar industry. According to the National Retail Federation, U.S. consumers are expected to fork over almost $17.6 billion this year on Valentine’s gifts for their loved ones. That’s $17.6 billion spent on one day — in the name of love.
The Valentine’s Day Factor
The smart marketers have us scrambling to empty our wallets in order to show just how much we love someone, which explains why Valentine’s Day has become one of the largest retail holidays of the year.
I’m not trying to be a Valentine’s Day scrooge, but it’s estimated that the average woman will spend about $74 and the average man will spend $160 on the holiday. For a moment, let’s assume you’re not even close to average and that you’ll double this amount. Together, that’s more than $500 that you and your sweetheart will spend (or have already spent) for a retail-manufactured day of love.
Maybe this year it would be smart to think about your Valentine’s Day Factor — sort of like my Latte Factor only on steroids.
The Grinch That Stole Valentine’s Day?
I’m not for a second suggesting that you don’t celebrate Valentine’s Day. I’m both a romantic and a realist, and you have to celebrate the holiday if you have a significant other (you’d better not forget your mom or grandmother, either).
However, this Valentine’s Day I want you to ask yourself, “How can I make this holiday meaningful and memorable?” Because, honestly, do you even remember what you gave or received last year?
I challenge you to express your true feelings with gifts from the heart rather than from the wallet. And if you’ve already bought Valentine’s Day presents for your special someone, that’s OK — shower them with both kinds of gifts this year and remember my advice for next year.
This Valentine’s Day, try loving rich with gifts that can’t be bought with money. Experience true romance by making a meaningful connection with the person you love, and in the process deepen your relationship and create a lasting memory.
Three Heartfelt Tips
So, to help, I want to share with you my top three heartfelt tips that go above and beyond a price tag to help you create a truly rich relationship this Valentine’s Day.
1. Express your feelings in writing
You don’t have to be a professional writer to craft a truly meaningful love note. There simply is no such thing as a poorly written love note. But if you need help, here are some suggestions.
Write a love letter that tells your loved one just how much they mean to you. But don’t just write to write; take a few moments to put your heart and soul into it.
Dig down and convey what you’re truly feeling. If you lost the person you love (and this could be anyone, not just a significant other), what would you wish you’d told them?
Don’t wait until it’s too late. You’ll be giving a gift that literally costs nothing, and if this simple gesture is all you do this Valentine’s Day, it will mean more than any store-bought card, box of chocolates, or bouquet of flowers ever could.
2. Make a home-cooked meal.
I’m going against tradition with this advice, but in my opinion Valentine’s Day is about the worst possible night of the year to eat out. Restaurants are packed (it’s one of the busiest days of the year for them), the menus are often prix fixe, the prices are inflated, and the staff is overworked.
So this year, stay home and prepare a meal instead. It can be as simple or as elegant as you’d like. Make it special with a cozy table setting, candles, and music. If you don’t cook, then plan a simple picnic in front of the fireplace. Or maybe you could snuggle up on the couch and watch a movie. Turn down the lights, pour two glasses of wine, and settle in for a relaxing evening.
Finally, it’s the perfect time to give your sweetheart the love letter you wrote. Better yet, read it aloud to them!
3. Dream about the future together.
Nothing strengthens a relationship more than having a dream you work on together as a team. Talk about your dreams together, and spend your Valentine’s Day planning your future.
Maybe your dream is to take an exotic trip. Visit one of the popular travel web sites to research destinations and costs, and have some fun planning it together. Or maybe you want to start saving to buy your first home. Sit down at the computer together and go on a few virtual home tours. Envision the kind of house you see yourselves in. Finally, if a vacation home is your future, use the Internet to find that perfect island getaway that you hope to someday own.
Then take the money you would have spent on each other for Valentine’s Day and make a deposit into your dream savings account instead. Work together to save for your dreams and you’ll find that they soon become a reality.
For Love and Money
I started this by asking if Valentine’s Day is about love or money. In truth, it’s about both — but the truth is, it was what you make it.
This year, I say make Valentine’s Day more love-based and less spending-based. You may be surprised by just how rich it makes you and your loved ones feel. Let me know how you’re celebrating Valentine’s Day this year and comment below!
If you missed me on NBC’s Today Show – Money 911 make sure to watch the segment above! We answered questions about how a divorce and a name change can affect your credit score, how to carry over your 401k from a previous employer, and if child support can affect your assets. It was a great segment so be sure to check it out!
I also had the chance to chat LIVE and answer your money questions on Today.com. Thank you to everyone that joined me, there were so many AMAZING questions today and I tried to type as fast as I could to answer as many as possible. If you missed the chat make sure to read the archive HERE to see if I answered a question that could help you.
Here’s just one of the MANY great questions from the chat today!
Guest asked: “Hi – I am contributing 15% to my 401K but my company only matches 50% up to 6%. Should I be doing something else with my 9%?”
I replied:“Dear Guest! You should leave it alone…you are brilliant and doing everything right. You will look back later in life and be sooooooooooooo GLAD you put 15% in your 401k plan. You friends will wonder how you go to retire ten years before them and it will be because you saved three times more than they did! Well done, stay the course.”
If you missed me on NBC’s Today Show – Money 911 make sure to watch the segment above! We answered questions about what to do if you’re marrying someone with a poor credit score, how to contribute to your 401k when your employer offers a match, and when it’s appropriate to use your spouse’s Social Security benefits.
Plus, I had the chance to stick around after Money 911 to do a Live Web Chat on Today.com. Thank you to everyone that joined me, there were so many AMAZING questions today. If you missed the chat make sure to read the archive HERE to see if I answered a question that could help you.
Here’s one of the questions from the Live Chat this morning. (Click HERE for the Full Q&A!)
Jennifer asked:
“My husband and I are 30 and because we were in graduate school most of our 20s, we are just starting to save money. At what point in life does it make sense to get a financial planner? How much should a financial planner cost?”
David replied:
“I think the sooner you get a financial planner the better. With that said, you should read up on investing before your hire one so you know what questions to ask and you are prepared better to screen a good advisor from a bad advisor. Read Smart Couples Finish Rich, before you hire a financial advisor. In this book I also layout how to hire and how to pay a financial advisor. The cost to do a basic financial plan is around $500 to $5,000 depending on how detailed it is. Then there are costs to work with the financial advisor. Most advisors today charge a flat fee on assets of around 1%. You can also hire financial advisors by the hour. Hope that helps you get started! Lastly before you hire a financial advisor check out their background online by visiting the NASD website and make sure there are not any complaints or legal issues with the advisor.”
