The Marketplace Exit Exam
Marketplace's Nancy Farghalli
TEXT OF INTERVIEW
Tess Vigeland: This week we say goodbye to a longtime staffer here at Marketplace Money. Producer Nancy Farghalli is leaving us for other pursuits, so we brought her in to talk about her four-plus years in personal finance. Hi Nancy.
Nancy Farghalli: Hi Tess.
Vigeland: So we told you that we just kind of wanted to talk to you about your time on the show, but in the spirit of Halloween, we've got something a little spookier for you -- we've got a quiz.
Farghalli: I knew this was going to be it! I did not prepare. This is gotcha journalism!
Vigeland: You ready?
Vigeland: Alright, first question. What is the Libor?
Farghalli: The Libor is the bank rate that is set to allow banks to borrow money from each other.
Vigeland: Very good. And where is it based?
Vigeland: Excellent! Well, here with another question is a guest star on today's show, a familiar voice to you and to listeners.
Kai Ryssdal: Hey Nancy! It's Kai, Kai Ryssdal from Marketplace. Listen, what is a good credit score and why is it so important anyway?
Farghalli: The credit score is basically a score that they look at your credit history, your credit transactions, student loans, mortgages, and the three credit bureaus come up with a score that allows you to borrow money for a car, home, refinancing mortgages. So you really want to have a good credit score because that means you'll have a lower interest rate.
Vigeland: Alright, very well done.
Farghalli: Thank you.
Vigeland: Two out of two.
Vigeland: And finally Nancy, someone who really hopes you've learned a lot during your time on the show so you don't show up at his doorstep needing to move back in someday.
Mr. Farghalli: Hello! Nancy! I am your dad.
Vigeland: Alright, you recognize that voice.
Farghalli: Yes, that's my dad.
Vigeland: OK, well here's his quiz question for you.
Mr. Farghalli: Assume that I have $13,000 in credit debt and $20,000 in student loans and unfortunately I don't have a lot of savings, but I really want to buy a big house next year, what should I do first?
Farghalli: He picks up the phone, calls his parent, mom or dad, and asks, "Can I borrow money for a down payment?" Thanks dad!
Vigeland: Well done!
Farghalli: Thank you! And can I just say one thing? This has been as absolute pleasure for me! I've been here for almost four and a half years and when I first started I had no idea that the financial market would collapse and that the Red Sox would win the World Series twice, so it's been a wonderful five-year period! Thank you!
Vigeland: Go Sox! Nancy, we're going to miss you. Good luck!
Farghalli: I'm going to miss all of you too! Bye!