Page 4 - Lynette Cox News Today

One family at a time and when families are healthy, when they can make good economic decisions, when nobody is tricking and trapping them into spending more on credit and getting into crazy credit card arrangements and getting into crazy mortgages, then those families will be stronger and ultimately our economy as a whole will be stronger." you agree, lynette, this is leading into a stronger, broader economy? >> i think it will definitely help. there is no question consumers need to be more info...

what it all means for you. were watching our wallets this morning. well show you how to score a real bargain on everything from furniture to fashion and high-tech gadgets. "money" magazine out with its annual listing of the to. places to live, from the top earnings towns and the most affordable towns. a show that saves you money starts right now. it is finally here. the wall street reform bill in response to the financial crisis that shook this country. it aims to protect you,en ...

And the state average with the help of teachers like connie moran. >> good morning. >> reporter: named teacher of the year by the national foundation for teaching entrepreneurship in 2007. >> ever since ive listened to her in class i heard her say invest in your money. invest your money, now im going to listen to her. >> reporter: christine romans, cnn. >> great story. if youre not lucky enough to have a school like ariel in your neighborhood, how do you make sure your kids learn these money l...

good morning, everyone. you know financial literacy is critical. how did you first learn thousand manage money? through your parents, through your teachers, or through trial and costly errors? well, in a recent survey by the national foundation for credit counseling, only 6% of people polled say they learned about personal finance in school. just 6%. and that, some say, is the problem with financial literacy in this country. cnns christine romans found one school on chicagos south side...

>> it was scary for me because i worked two jobs, i dont have a lot of money, and that left me with very little access to emergency fundage if needed. >> reporter: consumer experts say the card act does level the playing field. >> there are unequivocal wins for consumers in the new credit card legislation. >> reporter: its estimated consumers will save at least $10 billion a year because of the new law. but for kathleen, this is one relationship thats already soured. >> im just paying them down,...

Get you some answers. back with us now, john and lynette. okay. lets get right to it. the first question is this, my credit card retroactively hiked my rate pryor to the card act going into effect. is there anything i can do about it? john? >> yeah, theres something you can do about it, take your business elsewhere. its unlikely -- this is one of the reason there is a card act. you cant do that now with the card act. you have two options. open up a new card, transfer your balance and stop using ...

The law is that credit card issuers can still cut your limits at any time for any reason, which speaks of the issue that some people might, in fact, go over the limit and they can also close out your accounts, pretty much. >> the world is going to change. thats the one thing thats clear that we know. john, lynette, dont go anywhere. youve sent in such good questions about the card act. were going to get you answers, were going to get you answers, next.

in pennsylvania, a suburb of philadelphia. a piece of trivia, guys. same high school as kobe bryant. >> really? >> all right. died at the age of 85. well have much more on this at 10:00 a.m. but "your bottom line" and gerri willis starpts now. good morning. im gerri willis. and this is "your bottom line." coming up, new credit card rules take effect in just two days. are you ready for the changes? well tell you everything you need to know. plus, the dos and donts of remodeli remo...

Latest updates on this topic.

Latest updates on this topic.