Fun with coaching...
Dec. 24th, 2007 08:36 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
sabrinamariI had so much fun last night. Our friends T and D came over for fondue (of course), chilled shrimp and marinated grilled chicken breast.
Yum!
Then T and D started asking us about buying a house. They want to buy in the spring, but they don't know that much about it, or about finances in general. A little exploration revealed that T was interested in learning more about everything: what to do with money, how to manage it, how to learn about seemingly scary stuff like investments and retirement.
I asked if she wanted to work on it after dinner, and she said yes. So when the boys went downstairs to watch UTube videos and giggle, we stayed upstairs, learned to be financial geniuses and giggled.
We:
Found and opened a GREAT money market account for her (1$ to start, no fees, 4.90% interest, free check writing): 15 minutes
Learned about FICO scores, why they matter, and ordered 3 free credit reports and a credit score for her: 20 minutes, $5.95 for the score
Read through 1 report and disputed an old negative item online: 10 minutes
Walked through credit card companies: how to deal with them, what is Universal default, how to call and lower your interest rates and get late payment penalties waived: 10 minutes
Learned how to set up online automatic credit card payments that pay the minimum on your due date, so you are never late again: 5 minutes
Learned about weekly online micro-payments and how to use this strategy to get out of debt faster: 3 minutes
Set up a free Morningstar membership and learned about Morningstar's free classes: 10 minutes
Walked through 1 of Morningstar's free classes together: 8 minutes.
Results: 80 minutes = 400% gain in financial knowledge.
Plus lots of excited giggling!
Coaching rocks.
Yum!
Then T and D started asking us about buying a house. They want to buy in the spring, but they don't know that much about it, or about finances in general. A little exploration revealed that T was interested in learning more about everything: what to do with money, how to manage it, how to learn about seemingly scary stuff like investments and retirement.
I asked if she wanted to work on it after dinner, and she said yes. So when the boys went downstairs to watch UTube videos and giggle, we stayed upstairs, learned to be financial geniuses and giggled.
We:
Found and opened a GREAT money market account for her (1$ to start, no fees, 4.90% interest, free check writing): 15 minutes
Learned about FICO scores, why they matter, and ordered 3 free credit reports and a credit score for her: 20 minutes, $5.95 for the score
Read through 1 report and disputed an old negative item online: 10 minutes
Walked through credit card companies: how to deal with them, what is Universal default, how to call and lower your interest rates and get late payment penalties waived: 10 minutes
Learned how to set up online automatic credit card payments that pay the minimum on your due date, so you are never late again: 5 minutes
Learned about weekly online micro-payments and how to use this strategy to get out of debt faster: 3 minutes
Set up a free Morningstar membership and learned about Morningstar's free classes: 10 minutes
Walked through 1 of Morningstar's free classes together: 8 minutes.
Results: 80 minutes = 400% gain in financial knowledge.
Plus lots of excited giggling!
Coaching rocks.
