Financial Literacy Month – Avoid Bankruptcy Using the Pro-Rata Plan

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The Pro-Rata Method can keep creditors off your back and help you avoid future judgments, or the execution of a judgment because you are declaring hardship and essentially asking for an alternative plan until you can afford to make the original monthly payments for all of your debt. It is in the creditor’s best interest to accept this plan because it’s better for them to receive something rather than the nothing they’ll receive if you filed bankruptcy. You borrowed the money though and you want to pay it back, you just need a little wiggle room until you can get back on your feet. WATCH THIS VIDEO! Read more »

You Don’t Solve Money Problems with Money

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Have you heard about someone with money problems who suddenly came into some amount of money, only to find themselves broke again later? I believe this occurs because of one simple financial truth: You don’t solve money problems with money. I’m telling you this as someone who paid off $30,000 of debt in 1 1/2 years.Yes, I had a lot of debt. I worked two jobs in order to pay it all off. However, it was not simply the money that eliminated the debt. It was a change in me. I changed my goals, my spending patterns, and my savings […] Read more »

Lost Luggage

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I was in some form of debt for nearly 20 years. The last three years of my life have been dedicated to radical debt eradication. I didn’t realize it at the time – but debt was kind of like my baby. I thought about it constantly. I would strategize about how to pay it down. I would run numbers in my head. I had a running calculation everytime I spent money. Or made money. I was obsessed. This wasn’t necessarily a bad thing. It kept me passionate. It kept me focused. It provided momentum and motivation. For years. And then… […] Read more »

Getting Through A Divorce Debt-Free

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Going through divorce can be one of the most stressful financial ordeals a person can ever encounter. Over half of marriages that take place in America end in divorce and many of the parties involved end up paying off exorbitant debts because of legal bills and court costs. Here are the top four financial factors of a divorce and how to stay on top of them in order to avoid debt: Children Separate your children from the financial side of the equation. Their well-being during this ordeal should be you and your spouse’s number one priority and all efforts should […] Read more »

Free or Inexpensive Indoor Summer Activities

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This is the first in a 2 part series on how to keep kids entertained for minimal or no cost during the summer months. The second part, written by fellow EOD member Jessica Streit, will appear next week. This summer is going to be a different experience for me. It’s the first summer I’ll be home full-time with my daughter (who is 5) and quite frankly, I’m already panicking. Not so much because of all the time with her (which is awesome) but because, honestly, I don’t know what I’m going to do with her.  On normal days, I have […] Read more »

I’m Hot Because I’m Bald

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What comes to mind when you think of the stereotypical, sexy, attractive male? If the covers of magazines and romance novels are any indication, it’s a tall, tan guy with washboard abs, and of course a head of thick, long flowing hair. However, there are signs that this viewpoint is changing. Earlier this week, my friend and fellow blogger Suzanne Cramer wrote a post asserting that financially responsible men are attractive. Well, I’ve got some news, and it’ll knock the socks off of Suzanne and other women who share her viewpoint. Bald men are more attractive because they’re financially responsible. […] Read more »

The Waiting Game: Saving Money Vs Paying Top Dollar

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I love reading and my favorite genre is fantasy. I’ve enjoyed George R.R. Martin’s Game of Thrones books and am looking forward to seeing the books in their video incarnation produced by HBO. Since I do not have cable, or HBO, my options are to either purchase the first season on DVD/Blueray or pay $2.99 per episode on Amazon Instant Video. From a financial perspective, this small purchase contains a useful lesson on spending. The retail price for the DVD is $59.99. Several stores have it in stock at the retail price and you can watch it as soon as […] Read more »

The Psychology of Wealth Book Giveaway

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Happy Monday everyone! I hope you had a super awesome weekend! I had a terrific weekend but I’m a little sore and slightly injured. haha! Saturday morning I woke up and attended Isaac’s Opening Day Ceremonies and his first t-ball game! I played baseball from age 5-18 so I was very excited when Isaac told Alana and I that he wanted to play baseball. After that I was on my way to the Mud Warrior mud run I signed up for – 4 miles of mud and obstacles. I completed the run in a little over an hour and had […] Read more »

Debt Freedom Is Not One-Size-Fits-All

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So you are in debt (I am too!). Are you following a plan like something that Dave Ramsey lays out? I know Brad followed it and it was super successful for him. I have a problem following Dave’s plan for a number of reasons. Number one being motivation. I am definitely motivated to get out of debt. However, I lose that intense, uber-addicted-to-debt-reduction feeling from time to time. I do a lot of thinking about the psychology behind debt and money. I’m very intrigued by the differences in how people relate to money. I think there are many different ways […] Read more »

Turn the Tables on Your Debt to Savings Ratio

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Recent years have been tough on everyone; unemployment, the mortgage debacle, and rising costs on everything from food to gas have caused many of us to re-evaluate our budgets and learn to cut back. One in four Americans has more debt than savings. A recent survey by Bankrate.com found that 25 percent of Americans have more credit card debt than they have in emergency savings. Yikes, that is definitely a scary statistic. But, you don’t have to let it happen to you! While credit card debt may take some time to get out of there are lots of things you […] Read more »

Back to Work After 30 Years

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I ran to Wal-Mart yesterday to pick up a few things I needed for dinner and had the strangest checkout line experience. The lady in front of me turns around and insists that my husband buy me a bracelet. When he says he isn't going to be buying me a bracelet she says "Well, you must not be married then!" I informed her that we are indeed married and she puts her finger in my face and exclaims something to the effect of "I've been married for 35 years! Never Again!" Then she puts her finger in my husband's face and yells "NEVER AGAIN!!" Um... ok? Read more »

401k’s and Anything Goes

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During the last few years of economic upheaval, some people have begin to return to a more sensible way of dealing with their financial situation.  The last few decades have seen the American public give themselves over to the “anything goes” mentality of personal finance by taking on unprecedented levels of debt, which has come back to kick them in the tail over the last few years. Lately though, some stats have been showing that more and more of us have finally started to wake up from our “anything goes” hangover and have begun to pay down our debts substantially.  […] Read more »

Staying Out of Debt – Ignore Your Wants and Respond to Your Needs

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One of the biggest hoaxes we play on ourselves is seeing something we want and dressing it up as a need. If you asked people who are in debt to identify the single largest cause of their indebtedness, you'll probably learn that most people have spent excessive amounts of money on discretionary purchases instead of their needs. Getting what we desire is powerful, and we all want to feel powerful. The trick is not to be fooled by our desires, and find the power in being financially responsible. If we were to make a list of common discretionary spending, it would be a simple matter. Let's give it a try. Read more »

Togetherness Is The Best Kind of Family Therapy.

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It had been a really rough week for my family. A close friend of ours that lived in the neighborhood had passed away recently, and we had spent the entire week in crisis mode spending time with the family and other neighbors in support of each other. As most families, we have a daily routine. Dinner at 6:00, homework at 7:00, our favorite shows of the evening after that. That routine had been completely disrupted and my wife and I felt like our children had suffered from lack of attention from us. On my way home from work , I […] Read more »