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Financial Experts Offer Baltimoreans Free Advice
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If you see a big green bus outside Baltimore City Hall, step aboard. Financial experts are waiting to help.
Andrea Fujii has more about the money bus.
Aliya Benford jumped on the money bus for financial advice.
"Should I just settle or pay in full?" said Benford.
She's a student with $25,000 in student loans and she's wondering how to pay them back.
"I know they're deferred, but if I pay them anyway, will I get it back in my taxes?" said Benford.
Financial literacy is what Baltimore City hopes the money bus will help promote. It's sponsored by the National Association of Personal Financial Advisers or NAPFA.
The bus stops in 25 cities across the country, staying for a couple days in each. Baltimore is the fourth city on the tour. The next stop is Greensboro, N.C.
City officials say with increasing unemployment and bankruptcy, Marylanders need sound financial advice.
"City employees that now have to take furlough days, they've got to re-budget, people are going to have to tighten up," said Baltimore Mayor Sheila Dixon.
The last time the bus was in Baltimore, dozens of people took advantage of the service, asking questions about everything from retirement to debt.
"Some of the most common questions are 'I've got all this credit card debt how do I get all of it?'" said Michael Joyce, NAPFA president.
Participants say in these tough times not paying money to save money is appreciated.
"I'm really glad that it's free because I know a normal adviser would charge," said Benford.
The money bus will be outside City Hall until 4:30 p.m. Thursday. It will travel to the Center for Urban Families on Monroe Street Friday. The last stop will be the Hunt Valley Shopping Center.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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