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Current DateTime: 11:25:51 22 Nov 2009
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Expiration DateTime: 11/22/2009 11:27:06 PM

Carmen's Back! Here's Her Keys to Managing Money Stress
Published: Friday, 15 Aug 2008 | 4:28 PM ET
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Carmen Wong Ulrich
By: Carmen Wong Ulrich
On The Money Host

Carmen Wong Ulrich

Carmen Wong Ulrich
"On the Money" Host
I’m baaaaaaaack!

After disappearing into a very hectic, but exhilarating, first two weeks of OTM, I’ve been blown away by the tremendous response to what we’ve got cooking. Driving home after an amazing show last night, I had to reflect back on guests like Dayna from Florida. She arrived dismayed. How was she going to handle over $70,000 in student loans once she graduated from nursing school? With a quick rundown of her finances, not only did we find the money to manage her debts, but the ability to apply for up to $60,000 of her loans to be forgiven through the Nursing Education Loan Repayment Program. She left thrilled. We were too.

Dayna is just one example of a few very important themes that continue to rise to the top in terms of saving you not only money but the day-to-day strain of managing a very expensive ‘today’. Here’s a handy rundown:

Resources: The tools are out there for you to find ways to manage your money. But you have to do the looking! Whether it’s loan forgiveness of burdensome student loans, or non-profit (non-shady) help with managing credit card debt or looking for a certified financial planner, the options are there if you dig. However, it can be difficult to sift through all the information out there and to know what’s legitimate or not—or which option is better than the other—so that’s my job. My mission is to get the best of the best in information, guidance and resources to you. So stay tuned!

Rules: Knowing the rules of how your credit score works, or the structure of your mortgage, or the terms of your loan agreements, or how IRA investments can keep hundreds, even thousands of dollars in your pockets each year. Read the fine print, demand your terms in plain language up front and ask the right questions. These rules aren’t easy and they keep changing—all the more reason to keep on top of them, and I will too.

Resilience: I am blown away by the strength of folks sharing their stories, many who are very successful in life, but financially overwhelmed, like Caryn, a principal and single mother of three with a beautiful home who just needed a (strong) nudge in the right direction. Money-stress is a big stress, sometimes the biggest. Resilience is what keeps you going and allows you to know when you need to ask for help. Keep asking!

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