Jean Chatzky Quotes

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Jean Chatzky

Profession : Journalist

Birth : November 7, 1964

By definition, saving - for anything - requires us to not get things now so that we can get bigger ones later. That's hard. Our brains are hard wired to prefer the here and now.

Jean Chatzky

There are two things that you need to save for. First, you need an emergency cushion of no fewer than six months of living expenses. This needs to be cash in a liquid account where you can get at it in - yes - an emergency if you need it. In other words, money markets, not CDs. You also need to save for your future: that means retirement.

Jean Chatzky

Use visual cues to prompt yourself to put away more. A photograph of the beach house where you and your husband can envision spending your retirement will remind you to bump up the contribution to your 401(k); a snapshot of your child in a college sweatshirt can encourage you to put more into a 529 college savings plan.

Jean Chatzky

Women take fewer financial risks than men do, but not because we're wusses. Both sexes secrete the hormone oxytocin in stressful situations, but women secrete more of it, which helps us stay calmer.

Jean Chatzky

It's not exactly a big surprise that women mature earlier than men do. As a result, they tend to display better judgment, particularly when it comes to money.

Jean Chatzky

Secured cards can be helpful credit rebuilding tools for two reasons. First, because of the collateral, you can get them at a time when you're not likely to be approved for nonsecured cards. And as long as you maintain an on-time payment history, they can help you start to build a recent credit history that's fairly pristine.

Jean Chatzky

If you decide you need a secured card, use it to charge small items every month, then pay the balance off in full. If your credit score improves, and the bank doesn't offer to upgrade your card within 12 to 18 months, give them a call. If they refuse, try another lender.

Jean Chatzky

These days, checks are direct-deposited, money comes out of a machine in the wall, and we swipe a plastic card to make a purchase. In other words, your kids can grow up thinking money comes in an endless supply if you don't show them otherwise.

Jean Chatzky

Your credit score takes into account years of information in most cases. It's not going to improve in a day. But it may improve more quickly than you think. Generally, the last 24 months carry the most weight, so if you can keep clean for that long, you'll see a boost.

Jean Chatzky

You could lose hundreds or thousands one day on paper and gain it all back the next, and it has literally no effect on your immediate future, provided the money you have in the market is money you're investing for the long haul (meaning at least three to five years).

Jean Chatzky

You have no control over the market. You can't predict where it will go, and you can't bring it back from the depths. What you can do is save more. Make sure you have cash on hand - an emergency fund of at least six months of expenses.

Jean Chatzky

You can cut the fat from your spending: Stop taking taxis, call your cable company and ask for the same deal new subscribers get, have dinner at home and then a drink out instead of a $100 meal with wine.

Jean Chatzky

If salary is your most important consideration, make sure you don't take too much time off beyond the allotted 12-14 weeks of maternity leave - and certainly don't leave altogether.

Jean Chatzky

Couples that do save have stronger, more stable, less stressful unions. In other words, you don't want to be fighting about saving; you just want to be saving, period.

Jean Chatzky

By working toward a financial objective, you'll start to see the money add up for retirement or the credit card balance go down. But it doesn't have an immediate impact on your day-to-day life, and when it does - like when you're pinching pennies to save more - the immediate impact could feel negative.

Jean Chatzky

I'm big on setting goals, but I also think that if you have too many lofty ambitions and set goals for everything, you can sabotage your efforts by overextending your brain.

Jean Chatzky

Knowing where you stand in your quest to accumulate enough money for retirement is an incredibly important part of the planning process.

Jean Chatzky

For most, the largest asset is their home. This becomes a sentimental issue, I know, but if you're holding on to a home that you can no longer afford - or you need the liquidity - you need to think about solutions. One might be to bring in a tenant or roommate; a more drastic measure is to sell the home and downsize.

Jean Chatzky

Embrace your fire - even in hard times. A down economy can actually be a great time to start a business.

Jean Chatzky

Generally, there are three rules when it comes to borrowing money: You need to have good credit, proof of income and cash for a down payment. Most people have the first two, but it's the third that trips them up. And nowhere does that come into play more than the mortgage market.

Jean Chatzky