Jean Chatzky, author and financial editor on NBC’s "Today" program, lives by rules—specifically, money rules. She shared a few favorites during this morning’s Opening General Session:
►Money is simple. People make it complicated. A person’s behavior around money is emotional, nonsensical, and maddening.
►If you can’t see it and touch it, you can’t spend it.
Money rules are important because half of Americans are "financially fragile," Chatzky said. This means they couldn’t come up with $2,000 if they needed it within the next month to fix a leaky roof or pay a medical expense, for instance.
Data might tell us the recession ended in June 2009, she said, but clearly it didn’t come to a screeching halt. Consider this:
The end of this recession wasn’t a single event—it has been more of an unwinding, a process, Chatzky said.
Chatzky, a fan of credit unions, said there’s always more to do for members, especially those who are financially fragile:
And think smaller about financial literacy instead of "trying to boil the entire ocean," Chatzky said.
A U.S. District judge Monday dismissed three lawsuits--including one by the National Credit Union Administration--brought against U.S. Bank National Association and Bank of America, National Association regarding their duties as trustees of residential mortgage-backed securities.