Live Blogging from Intuit Money Matters Town Hall
Consumers discuss how they're weathering the storm at Intuit Money Matters Town Hall
10:09am: Todd finishes by saying that the tough times we’re in are changing all of us for the better. He says money can be used wisely to improve your lives. Be sure to watch archived version of this on the Intuit.com website. Thanks to all…and check our our Small Business Town Hall coming up next.
10:07am: Session is wrapping up…Todd and Farnoosh are thanking everyone and both said they learned a huge amount from each and everyone of the folks on the panel.
10:04am: Farnoosh reminds the group that even with bartering, you do have to report it to the IRS so you stay within the rules. She also said people are getting closer to one another during this time. People are staying more at home…including Farnoosh’s neighbor in NYC who is an opera singer. Being at home more now, she hears her singing!
10:02am: Farnoosh is going back to bartering…there’s some energy in the room to discuss it. Bob is a big barterer and has been doing it for 20 years.
10:00am: Stimulus will invest in new sectors like infrastructure, energy, education and engineering. Farnoosh and Todd both say there will be great opportunities for employment in those sectors.
9:55am: Farnoosh asked the group how much they knew about the 2009 Stimulus. Kim is a tax preparer and she’s been studying it because there are opportunities there. She pointed out the new credits around green energy as a great opportunity.
9:54am: Todd mentioned the struggles of the auto industry and asked if anyone was planning on buying a new car. Kim said yes, and that because her and her husband have good credit and low debt, they were able to get an amazing deal on the financing.
9:52am: Mara says shes going with a smaller community bank. In fact, her contact there says they are swamped with people who are worried about larger banks and want a more intimate relationship with their financial institution.
9:49am: Farnoosh asked the group if anyone was concerned with putting their money in banks. Yvette raised her hand and said yes. Her and her husband invest and they are worried about the stability of some of the institutions they deal with. Farnoosh reminds folks that the FDIC protects you up to $300,000.
9:46am:All participants today say they know and track where their money is going. Todd adds that most Americans do not do this. 70% of Americans live paycheck-to-paycheck – and that’s even folks with a six-figure income -and they need to keep an eye on where they’re spending to make sure they meet their obligations and have some money left to save.
9:41am: Todd reminds everyone to check their medical bills. 80% of medical bills consumers receive have errors on them. You’re leaving a lot of money on the table if you don’t check. He also suggested asking doctors for 90-days worth of prescriptions so you can take advantage of lower-priced mail-order options. He also talked about the new, free Quicken Health Expense Tracker as a way to stay on top of medical expenses.
9:39am: Rick is self-employed and said its tough to get insurance as someone not part of a larger group. His rates have been raised twice in six months without him making any claims. Farnoosh says you should check associations you belong to, even your religious group, for group insurance options.
9:37m: Farnoosh is telling the folks to consider bartering…even with your doctors. They’re looking for services like website design in exchange for their services. She said it seems odd, but don’t rule it out. You can save a ton of money, especially if you’re uninsured, by doing so.
9:29am: Todd Stanley is talking about the importance of knowing how much money you have to spend each and every month. Using things like Quicken Online Mobile can help you make sure you don’t over spend. He also stated people need to make sure they pay at least the minimum payments on their debts to preserve their credit rating.
9:24am: Farnoosh is asking the group about how much debt they carry. Not only do people have to cut back, but they also need to pay down debt. Farnoosh says to call your debtors and ask to settle if you’re having problems.
9:22am: Chris lost his job, had to buy a new car, and get insurance to protect to his family. He’s really had to cut spending and he realized how much he had been spending when times were better.
9:21am: Check out the live stream of this Town Hall: http://www.justin.tv/intuittownhall
9:20am: Cydney has one client but her spouse works as well so they’re doing OK with money these days. Both her and her husband are independent contractors. They do have some savings but are adjusting their lives to spend less and save more. Farnoosh says she is in a good position since she is a team with her husband.
9:18am: Participant Anna says she is not spending money outside of her obligations. She’s cut way back on spending and isn’t splurging on things she use to like a day at the spa.
9:16am: First topic introduced by @farnoosh is about paying the bills…and asking folks how they’re making money.
9:12am: Session is underway. Introduction by Quicken VP/General Manager Todd Stanley (@quickentodd).
9:09am: Renowned editor Michael Runzler just arrived. Bloggers and journalists have arrived. Including Harry McCracken from Technologizer.
9:03am: @quickentodd and @farnoosh are getting their microphones setup so we’re going to get started soon. The consumers joining us today are all set and very motivated to share their stories. We’re in for an informative and great session.
8:45am: Scott from the Quicken team…getting ready to live blog from the Intuit Money Matters Town Hall. Follow us on Twitter (@intuittownhall, @prgully, @quickenchels) or check in here for some updates on this discussion.
We just spent the last 45 minutes mingling with consumers and hearing their money stories. It’s really interesting to hear how the current economy is impacting everyone.
More to come…stay tuned.
WATCH THE LIVE FEED OF TODAY’S EVENT: http://bit.ly/intuitth
Tags: Debt, Intuit Town Hall, Personal Finance, savings, spending | Categories: Credit, Debt, Investing, Personal Finance, Quicken Online, Quicken Tips, Saving |
