The 411 on Finance

Tuesday, December 16, 2008

Jonathan Mintz, commissioner of the Department of Consumer Affairs, and Cathie Mahon, executive director of the Department of Consumer Affairs' Office of Financial Empowerment discuss the city's joint program with CUNY and the Daily News to answer New Yorkers' questions about personal finance.


Cathie Mahon and Jonathan Mintz

Comments [12]

Gail from Brooklyn

What about taking advantage of a 0% credit card offers and transferring some money (at a 1 time fee of 3%). This gives you a year or so to pay off the original amount.

Dec. 16 2008 11:25 AM
h from brooklyn

can you renegotiate student loans when they are at a fixed rate (borrowed in 2006-2008)?

Dec. 16 2008 11:25 AM
C. from Brooklyn

How much of a cash 'cushion' should one try to have? I have enough to live off of for a few months in my savings account (that gets about 2% interest)- should I hang on to it, or use it to pay off student loans (with 4% interest)?

Dec. 16 2008 11:24 AM
O from Forest Hills

Jennifer, it is 212-433-9692

Dec. 16 2008 11:24 AM
pordy from Florham Park, NJ

How about advising the guy who admits he and his wife make good money but is overwhelmed with bills to STOP SPENDING??

Dec. 16 2008 11:23 AM
suki from williamsburg

In the past I've called credit card companies and had them lower my rates as one of your callers did. However, I recently attempted to get a rate lowered and the company was unable to lower the rate any further - even though I have a stellar credit rating.

Dec. 16 2008 11:19 AM


Dec. 16 2008 11:18 AM
shc from Manhattan

Is it worth it to contribute to roth ira's with the stock market's current volatility?

Dec. 16 2008 11:17 AM

CITIBANK will lower your interest rate on credit card but only for six months. Make sure you pay the balance by then or they can raise it to 33% or even higher!

Dec. 16 2008 11:16 AM
Cynthia from Brooklyn, NY

You keep suggesting that people negotiate with their credit card companies for a lower interest rate, but I've had them tell me that they lowered it once and couldn't do it again. I think it might depend on the bank sometimes.

Dec. 16 2008 11:16 AM
Leo in NYC from soho

My wife is recently unemployed but is also a legal immigrant and hasn't been here quite long enough to be eligible for unemployment insurance payments. Is there anything she can do? It seems very unfair that she has been paying into UI for so long but can't collect.

Dec. 16 2008 11:13 AM
Michael from Inwood, NY

Is a US Treasury money market fund safer than putting my money in an FDIC insured CD with US Banks struggling to stay afloat and the FDIC facing a tsunami?

Dec. 16 2008 11:09 AM

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