Missy Stein of “What’s up with Missy” on 1340 WHAT told her audience today that for 8 years she has been a breast cancer “survivor”, now she is a breast cancer “patient”.

Missy says they called a family meeting, everyone very curious– one child jokingly said– “What, do you have cancer?”.. The good news is- she was able to tell her five children  “I will not die form this, I’m going to be fine.”

She will LIVE, because she caught it early.  For the next seven weeks she will undergo radiation and instead of crawling up in a ball and cursing God, she is sharing her experience, in hopes of saving lives and empowering women.

Missy wants to send a message: know your body, know what’s normal… and don’t take “no” for an answer when you’re told you’re fine… if YOU know that you’re not. Missy hopes to demystify this so she will be talking about it on her show and sharing her story with us at NBC10.

I’m honored and blessed to be able to witness this woman take on this challenge.  When I left the shoot this morning, I told the photographer that all words I can think of for Missy..  Inspiring, brave, strong… all fall short.

Look for her updates as she documents the journey on NBC10.
http://www.facebook.com/people/Missy-Stein/100000980844789

After years of rate hikes, costly fees and credit limit cuts, consumers finally got some relief, thanks to the Credit CARD Act. As you may know, a number of the rules kicked into effect earlier this year, but there are several new ones rolling out this summer that you’ll want to be aware of.

To highlight a few of the big changes that have already taken effect:

• If your credit card company plans to increase your rate or fees, it must give you 45 days notice and give you the option to cancel before the change takes place.
• Your credit card company has to mail or deliver your bill at least 21 days before your payment is due.
• Your payment due date must be the same each month and the payment cut-off time cannot be earlier than 5 p.m. on that particular day.
• Your statement must show how long it will take to pay off your balance if you make only the minimum payment.

For an easy-to-digest list of rule changes, check out federalreserve.gov.

Here’s a look at the new rules:

Effective July 1

• Banks will no longer let you spend more money with your debit card, or withdraw more at the ATM, than you have in your account UNLESS you’ve given them permission to do so. If you do give them permission, they can only charge you one overdraft fee per billing cycle.

Effective August 22

• Every six months, issuers are required to review all accounts that have been subject to rate hikes to determine if a reduction is warranted.
• Gift Cards must be valid for 5 years and dormancy fees are banned for the first year.

Do beware though, credit card companies are finding ways to make up for lost revenue—experts say issuers will likely raise annual and inactivity fees to bridge the gap. If you’re hanging on to a card to take advantage of its rewards program—do some number crunching. Hefty rewards programs used to offset annual fees, but issuers are cutting back on their programs, so make sure to reevaluate your situation. One last tip- be cautious of introductory offers like “0%” interest or discount offers- after the period is over your rate will spike—and the required 45 day notice does not apply. Bottom line, read the fine print when considering offers and make sure to read ALL mail that you receive from your credit card company—you’ll thank yourself later!

To stay in the know, check out the newly launched government site MyMoney.gov- it’s a one-stop shop  with all kinds of helpful resources, tools, and information to help you best manage your finances.

By: Erinn Carey

There are some things you can afford to cut from your budget like your daily coffee run, weekly shopping trip, or after-work happy hour… but your health? That’s a different story. Skipping health insurance not only puts you at risk but also those who care about you because they’ll be hit with the financial burden, should you need serious medical attention. When you consider that a short ambulance ride to the hospital could cost upwards of $1,000 and an MRI will likely cost over $600…paying for a health insurance plan suddenly doesn’t seem so bad.

After the laborious debate over health care, many people were scratching their heads wondering when it would directly affect them. The reforms will be introduced gradually over the next 10 years, and while it’s been a hot topic for controversy, 55% of people do agree on one thing: They’re confused about the new law, according to a Kaiser Family Foundation poll. So if you’re still scratching your head, clearly you’re not alone. Check out Bankrate’s timeline to see a simple breakdown of the reforms being rolled out over the next 10 years.

The Health Care Bill signed in March will make affording health insurance easier for young adults by allowing them to stay on their parents’ policy until age 26. Unfortunately, for spring 2010 grads, this new law won’t kick into effect until September 23. However, many insurers including Independent Blue Cross Blue Shield and UnitedHealthcare have announced efforts to jump-start the reform and allow recent grads to remain covered. Needless to say, it’s definitely worth calling your parent’s human resources department or your insurance company to find out whether you are eligible for this option. If you are not eligible, you’ll want to find your own plan to cover yourself until the new law kicks in, or until you find a job with benefits. Here’s a look at your options:

• Individual Insurance Plan- affordable option if you’re healthy
• Short-term Insurance Plan- ideal for those between jobs or those waiting for other health insurance to start (offers coverage for 6 to 12 months)
• COBRA- generally a last-resort option

Like anything else, shopping around will get you the best deal. ehealthinsurance.com is a very user-friendly site that lets you compare coverage and prices at a quick glance. Their “click to talk” feature enables you to have a representative call you immediately to answer any questions (I can personally vouch for phone service- the wait was minimal and they were very helpful). By providing your zip and answering a few questions, the site will give you a number of health insurance quotes. When you find the best plan to fit your needs, you can apply directly online.

Individual Plans are an affordable option if you’re healthy- plans range anywhere between $35/month to over $230/month depending on your health and what kind of coverage you need. Your payments are on a month to month basis and there’s no commitment, so you can cancel at anytime.

Short- Term Plans are designed to protect against unforeseen accidents or illnesses, rather than to provide comprehensive coverage, so typically they do not cover preventive care, physicals, immunizations, dental or vision care. Also, purchasing short-term medical insurance plan will make you ineligible for any guaranteed issue individual health plans commonly referred to as HIPAA Plans. (If you have a pre-existing condition and want to maintain your eligibility, you shouldn’t purchase a short-term plan.)

COBRA allows for continued coverage under a parent’s employer-based plan for up to 36 months after graduation. This option is pricey because you have to pay both the employee and employer portion of the premium, plus 2% for administrative costs. Generally, it’s a last-resort option for people with pre-existing health conditions who may have trouble getting individual coverage.

Check out these resources to help you save money and get the best deal on health care:

• Healthcare Blue Book- even with insurance coverage, shopping around for the best price is a smart idea! This is a great resource to help you determine fair prices for healthcare services in your area.
• Health Insurance 101- explains all of the health-insurance lingo (premiums, deductibles, coinsurance, etc.)

By: Erinn Carey

Ambitious, educated, yet jobless—that’s the story for many newly minted grads and unfortunately the student loan statements aren’t stalling along with the hiring managers. If you haven’t quite landed a job, and are taking on volunteer positions, internships, or revisiting that oh-so-faithful summer job, the thought of making your first payment is likely taking you back to the stress of finals week. The good news is, you have options and there is help available.

After you cross the stage and receive that well-deserved diploma, you’ll have a grace period where no payments are due— this is the perfect time to create a budget and start (or continue) saving money in anticipation for your first payment. Be sure to check your loan’s terms to determine how much time you have between graduation and your first loan payment’s due date.

While missing a payment might not seem like a big deal right now, it’ll take a toll on your credit and cause some big problems down the road making it very difficult to get a credit card, a car lease, or even a cell phone contract. If you’re worried about your ability to repay, here’s a look at some options:

• Income-Based Repayment
• Public Service Loan Forgiveness
• Graduated Repayment

Income-Based Repayment- This program went into effect this past July to make repaying student loans more manageable for those in lower-paying jobs. Basically, your lender will cap your monthly payments at 15% of your discretionary income and after 25 years of payments, your loans may be forgiven.  Although your lender will have to verify that you are officially eligible, you can use the IBR calculator to estimate whether you will benefit.

Here’s an example: Lets say you are a single college graduate with an annual gross income of $30,000 and your student debt is $25,000. According to the IBR calculator, you would be able to comfortably pay about $170 per month.

Under a 10-year standard plan with an interest rate of 6.8%, you would be required to pay $288. Because the $170 IBR calculated amount is less than the standard 10-year plan amount of $288/month, you would most likely be eligible for the program and would have a monthly payment of about $170.

Borrowers who take out their first federal loan after 2014 will have their payments capped at 10% of their discretionary income and the remaining debt will be forgiven after 20 years. Visit Federal Student Aid or IBRinfo.org for more details and to see if this program is right for you.

Public Service Loan Forgiveness- This program was created to encourage individuals to work full-time in public service jobs. If you’re eligible for this program, you could qualify for loan-forgiveness after making 120 payments. Check out FinAid.org for more details and to see if you are eligible.

Graduated Repayment- If you expect to climb the corporate ladder quickly and be raking in the big bucks within a few years, you can opt for a graduated repayment option. Essentially, this allows you to make smaller payments for the first two years, and then gradually increase your payments. One thing to keep in mind is, the amount of interest you need to pay on your loan will increase because your initial payments will be lower. Check out the Graduated Repayment Calculator to see if this could be a good option for you.

Other Options for Loan Forgiveness- If you have a passion for volunteer and service work but your debt is holding you back, visit FinAid.org for a comprehensive list of paths you could pursue including AmeriCorps, Peace Corps, Military, and others. These programs make doing good deeds financially possible, despite your debt load.

Still uneasy about that first payment? Even if you’ve graduated, financial aid officers at your alma mater can help. As soon as you run into a financial roadblock, contact your lender—DO NOT wait because you’ll become ineligible for certain options if you default.

Here are some helpful resources to help you navigate your repayment options:

• Student Loan Borrower Assistance
• FinAid.org
• Mint.com’s Student Loan Tracker

By: Erinn Carey

“So what are your post graduation plans?”

…It’s a dreaded question that many recent grads are facing in this uncertain job market. You’ve worked hard and graduated with valuable skills, a strong resume, and wonderful memories …but little knowledge of how to manage your finances.

This year’s grads certainly aren’t the first to cross the stage with debt, and won’t be the last. Chances are, you haven’t landed that ideal full-time job with benefits and matching 401(k) contributions, but be flexible and keep your head up. On a high note, economists are saying that 2010 grads are meeting a slightly more welcoming job market than their fellow 2009 counterparts. So smile, better times are a-coming.

Sweeping legislative reforms that were passed over this past year should ease the pain as new grads try to establish themselves financially. New credit and banking regulations, health care reform, and new student loan repayment options are making life a little easier. In the flurry of college papers, presentations, and exams you may have missed the details. So, for the next week, I’ll break down four big legislative changes and what recent grads (and their parents) need to know. I’ll also give you some especially helpful resources and tools to start your post-grad life on the right foot. Here’s the line up:

• Repaying Student Loans- “In Debt to Your Degree: Where to Find Help”
• Health Care Reform- “What does that 2,000+ Page Health Care Bill Mean for YOU?”
• Credit Card Regulations- “ How Will the New Regulations Affect YOU?”

By: Erinn Carey

Tracy explains how consumers can save money using the new website livingsocial.com.

Tracy explains how consumers can clean out their closets and make money selling their items to consignment shops.

Tracy explains the stipulations of the first time homebuyer’s tax credit.