Jennifer's Compass

Keep an eye on your cards

Viewer questions this morning focused on credit cards and paying off debt; and that's a good thing. As we continue to work through the credit crunch expect credit cards to be the next crisis issue.

John in Brookline
We get a lot of junk mail. Is there a way to stop the credit card offers from coming? I’ve heard they’re an identity theft risk.

Diane in Somerville
I filed Chapter 7 in 2006 and it was discharged in 2007. I haven’t used any credit cards since then. How do I start rebuilding my credit?

Jill in Southbridge
I’m a small business owner. I have two credit cards with balances. One card is for business expenses so the interest is deductible and the other is for personal expenses. Right now I have extra money. Should I put it towards my SEP IRA, my taxes or pay down one of the credit cards?

Jason in Westboro
I’m 27 and I have a little bit of credit card debt I’m working on paying off. With the market down like it is now, should I be more focused on investing or just paying off the cards?

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Viewer questions: Yes you still need to pay your credit card even if your bank fails

The viewer questions we've been getting are great -- keep 'em coming! Topics for questions this week ranged from paying credit debt owned to WaMu, to 529 plans, Manulife stock and how the stimulus check many received earlier this year will affect tax refunds.

Click below for the link (remember, NECN will run an ad before the segment plays)

In Focus: Mutual fund tax burden

Watch out...if you own mutual funds in a taxable account make sure you check your fund's year-end distribution schedule. Even if the fund value is down for the year, they may still be planning a taxable year-end distribution. Some distributions will be small, but some could be as much as $2 per share. Do a little research now to decide whether to hold on and pay the tax (the distribution adds to your tax cost basis anyway so you won't double pay tax when you sell) or decide to sell now and move to another more tax efficient investment like an ETF.

Tips for borrowing from relatives

With interest rates on credit cards and student loans way up, many people are turning to relatives for borrowing help these days. While it can be a good thing to keep it all in the family, here are some tips for setting up those all-important ground rules.

Tips to get through the holidays financially intact

The holidays are coming up fast, and there may be a lot of pressure to over-spend, and maybe get yourself in over your head on your credit cards.

Halloween, Thanksgiving and all the fun in December and January...Here are some tips to help get through the holidays without maxing out the credit cards.

Click below to see the segment

In Focus: Home heating costs

There's a lot of economic pressures on New Englanders these days. We shouldn't forget that winter is on the way - and heating costs are expected to be much higher than last year. Here are some tips on how to keep the bills in check and get ready for winter.

Preventing Wall Street turmoil at home

Turmoil on Wall Street can often cause turmoil at home. The stress of watching the stock market can cause couples to disagree over how best to manage their investments. Here are some ideas to help you stay on track even when you disagree about what that track should be.

5 Things you should do right now

If the markets are making you feel powerless right now, it's important to regroup and focus on your long term plan. Here are the 5 things you should be doing right now...notice that none of them include selling your stock funds.

Navigating the frozen credit markets

How does lower interest rates and the bail-out bill affect you if you're facing foreclousure, have credit card balances, want a car loan, a new mortgage or to refinance?

Click below for the segment discussing these questions

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Keep investing for your retirement

A new survey by AARP says Americans are cutting back on the amounts they're contributing to retirement. Watching your nest egg shrink in a down ecomony is never fun, but sticking with your investment plan is an important part of your success.