CHARLOTTE, NC (June 30, 2011) – LendingTree, the nation’s leading online mortgage network, today announced the May winner of the LendingTree Home CFO Contest, a contest designed to celebrate real-life financial role models. The contest runs from May through July and invites Home CFOs, defined as the person who manages both small and large family financial decisions, to share their best tips and tricks for managing household finances.
May’s winner and new LendingTree Home CFO is Lisa Giacobbe, a counseling therapist for foster children from Baltimore, Maryland. Lisa was awarded a free month’s mortgage payment courtesy of LendingTree and named a LendingTree Home CFO for her tip on delaying gratification to pay down debt. Lisa outlined an aggressive savings plan to ensure a healthy financial future and shared her advice with the LendingTree community.
“In the last four years, my husband, Shawn, and I have managed our finances by delaying gratification so we could pay off debt and have a better quality of life down the road,” said LendingTree Home CFO contest winner Lisa Giacobbe. “Sticking to a strict budget that gives us an overview of our cash flow allows us to keep track of our bills, spending and savings – something that helped tremendously when Shawn was serving in the military and we lived on one income in Germany. I’m thrilled that my tip about how we carefully manage our money won us a free mortgage payment. It’s like a bonus for all our hardwork!”
“Lisa’s submission and lifestyle truly embody the spirit of LendingTree and our Home CFO contest,” said Mona Marimow, Senior Vice President of Marketing at LendingTree. “We’re thrilled to be able to recognize someone who is truly taking control of their financial life, saving for the future and making smart decisions when it comes to budgets and borrowing.”
Lisa’s savings tip and other Home CFO submissions are available at www.facebook.com/lendingtree. Although there is only one winner for May, the LendingTree community shared other valuable tips through the contest. Highlights include:
- Save on interest by taking out a 15-year mortgage rather than a 30-year mortgage, pay extra on the principal or make more than one payment per month. - Ellen H.
- Comparison shop for electricity providers if it is feasible in your area. You may find a better deal. Don’t be afraid to ask utility, cable and phone companies if there are any other ways to save money. - Andy H.
- Pay yourself first by having automatic deposits to a savings account - Michaela C.
- Buy what you can afford. The new car smell wears off before the car payments do. - Beth L.
- Prioritize your spending so the least important items are cut from the list. - Miranda M.
“We hope these tips and advice will serve as an inspiration for anyone faced with making tough money decisions and will encourage them to take the action needed to take control of their finances,” said Marimow.
LendingTree has a long-standing commitment to simplifying financial decisions and empowering consumers with advice on mortgage and personal finance transactions. Since 1998, LendingTree has helped over 28 million borrowers find the best loan for their needs by connecting them with up to four lenders who provide multiple loan offers. LendingTree also offers free and objective tools, advice, and mortgage calculators for consumers in all stages of their financial lives.
Submissions are still being accepted for the contest. Participants can submit their stories and financial tips via the LendingTree Facebook page (www.facebook.com/lendingtree) from now until July 31, 2011. Each month one lucky participant will be named The LendingTree Home CFO and will be awarded a free month’s mortgage or rent payment.
About LendingTree, LLC
LendingTree, LLC is the nation’s leading online lender exchange and personal finance resource, helping consumers take charge of all their financial decisions, from budgeting to money management to mortgages to credit cards and more. LendingTree provides a marketplace that connects consumers with multiple lenders that compete for their business, as well as an array of online tools to aid consumers in their financial decisions. Since inception, LendingTree has facilitated more than 28 million loan requests and $214 billion in closed loan transactions. LendingTree provides access to lenders offering mortgages and refinance loans, home equity loans/lines of credit, and more. LendingTree, LLC is a subsidiary of Tree.com, Inc. (NASDAQ: TREE). For more information go to www.lendingtree.com or 800-555-TREE.