So Money - Episode 84

Ask Farnoosh

Farnoosh Torabi

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On Ask Farnoosh today, questions about whether saving money for a child’s college education lowers your chances of getting financial aid? And what the heck do I do with my stinkin’ time share? I want to sell it!

Some websites mentioned:

5Ram asks:

I am married and have two kids 8 years and 3 years. Not saved so far any amount for their education. I heard if I saved money for their college, they will not get financial aid. Is it true? Please suggest best ways to save for their collage education.

Abigail asks:

Hi Farnoosh. New listener for about a week now; absolutely love your pod! I’m 27 and I was seduced into buying a timeshare this summer. Owned for less than a year, realize now it isn’t right for me. Currently making all payments on time. Info on property is NOT being reported to credit agencies. What options are available to me so that I may get rid of the timeshare AND keep the shirt on my back? Google search reveals resale scams are aplenty; Do you have any recommendations for reputable timeshare reselling resources? A million thanks in advance.

Victor asks:

What’s your advice for parents that are trying to figure out a good work/life balance? I’m a new parent and it’s challenging!

Morgan asks:

I am a 24 year-old single woman living in beautiful Denver, Colorado. I have been saving every penny to go to law school in the fall of 2015. So far, I have $80,000 in a savings account. I recently found out that I received a scholarship for law school (yay!), so that tuition will only cost me a total of $30,000. I don’t want to keep all $80,000 sitting in the bank collecting minimal interest, but I’m unsure what to do with it. I am a big fan of yours and would appreciate any advice you might have. Thanks, Farnoosh!

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