Comments on: Welcome WSJ Readers: 6 Tips for Life After College

By: Jenny

Jenny — Mon, 13 Apr 2009 18:42:28 +0000

That works too! I like the idea of building some confidence and momentum – and it’s one less bill to think about

By: tom

tom — Mon, 13 Apr 2009 18:37:01 +0000

Some people may choose to pay off the smallest balance to get the momentum going for them, i’ve done it myself.

By: Jenny

Jenny — Mon, 13 Apr 2009 16:55:09 +0000

Tom - so sorry for not replying sooner! I thought I had for some reason... Anyhow - when someone has debt, I suggest they prioritize the debt with the highest interest rate first (usually credit cards), and worry about the debt with lowest interest rates last (usually student loans). Even while paying down debt, I definitely recommend that people also contribute to a savings account (especially an emergency fund) - you never know when you will need the cash. There's a great post about this at The Simple Dollar called Get Rid of Debts Slowly but Surely.

By: Jenny

Jenny — Mon, 13 Apr 2009 16:51:54 +0000

Hey TB – sorry for the delay in getting back to your comment. Tom brings up a good point, that the high-interest savings accounts fluctuate in terms of who offers the best rate. Here are a few to start your comparisons with:

ING Direct:
http://ingdirect.com

Emigrant Direct:
http://emigrantdirect.com

HSBC:
http://www.us.hsbc.com

E*Trade:
https://us.etrade.com

I’m sure there are others I’m missing – but these would be a good place to start!

By: TB

TB — Sun, 12 Apr 2009 03:59:29 +0000

I’ve also become concerned that ING keep dropping their savings rate, do you have an alternative suggestion?

By: tom

tom — Thu, 12 Mar 2009 17:29:44 +0000

How have you prioritized or would suggest when someone has debt?
Should they also have savings/emergency fund?

Also ING direct savings account may not be a great idea because they keep dropping their rate.

By: Jenny

Jenny — Thu, 05 Mar 2009 22:01:45 +0000

Thanks so much TO! I appreciate it

By: TOPolk

TOPolk — Thu, 05 Mar 2009 09:19:26 +0000

Congrats on the WSJ posting! Nice job Jenny.

By: Jenny

Jenny — Tue, 03 Mar 2009 17:55:19 +0000

Thanks Bill. I love your site – I passed it on to my mom who is currently trying to “money launch” my brother…she’s up for quite a challenge, and he’s going to get quite a wake-up call!

By: Bill

Bill — Mon, 02 Mar 2009 13:34:06 +0000

Good, practical tips,Jenny. I am a parent who is very concerned about moneylaunching my own three kids, so I was pleased to see some coverage of finances.