It’s Over. We’re Free!

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This morning I made a quick phone call, and just like that it was over. With our 55th payment, plus a partial payment scheduled to be automatically withdrawn on Tuesday, the last of the $109,000 of credit card debt that we had enrolled in our debt management plan is gone. We’re free!!! Free from the shackles of debt that have have held us down for our entire seventeen year marriage. Free to finally have the decision of what to do with our money fully within our own control instead of having to hand it over to credit card companies.  No […] Read more »

Getting Out of Debt – Practical Steps I Took to Slay the Beast

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My last article about getting out of debt spoke to the idea of attitude. Without the right attitude, we'll go nowhere fast. As promised, I'm going to share with you some of the techniques I used to extricate myself from a world of debt (including consultation with a bottle of wine). I'd like to get down to specifics about how I put my attitude to work and the results I obtained. These techniques worked well for me in my particular situation. Of course, what worked for me won't necessarily work for others, but it's probably worthwhile getting it out in the open as an example to see if it might work for you or someone you know. Read more »

The Joneses Are Buying an iPhone5. What Should I Do?

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One of the coolest gadgets ever made is about to release the latest version — the iPhone5! All you hear around the water cooler is how your friends and co-workers have already pre-ordered it and are actually losing sleep in anticipation of its release. Your drab, but functional iPhone4 seems like the first phone ever made and the pressure to upgrade is pulling at your purse strings. I absolutely LOVE LOVE LOVE the iPhone! It has revolutionized how we interact and surf the web, interact with our friends and family, and in my opinion is quite possibly the best invention […] Read more »

What Will You Sacrifice for Freedom?

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C-H-A-N-G-E. People hate it! People hate having to change anything, sometimes regardless of the benefits that lie ahead. Change is uncomfortable and sometimes a little scary. The fear of having to face something unfamiliar can often paralyze us into inaction. Sometimes change is forced upon us and sometimes the choice is our own to make. So whether we like it or not, change is a very big part of who we are. We may as well embrace it. In terms of personal finance, change is constant. And when it comes to debt change can save you from financial destruction. Nobody […] Read more »

With a Falling Market Should I Bail on my Investments?

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The markets fell, for the most part, during the third quarter continuing the challenge for many people to remain invested. Some investors moved out of the market already and will eventually have to decide when to invest again. That is the challenge for short-term investors and for those who attempt to time the market. The advantage of long term investing is the stress and strain of rapidly fluctuating markets is something you can ignore. Here are a few important questions you should consider. First, do you have adequate savings and emergency funds? (At least 6 months of your net take […] Read more »

People Need An Excuse To Spend Money, And They’re Eager To Find One

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Do You Justify Your Purchases? What About The Bad Ones? A few weeks ago, I was sitting at home watching some T.V. with my wife, after watching 27 inches of snow fall. We were snowed in the day before, and could barely get around on day 2. It was the top of the hour so there was a news update, and that’s when I heard it. I almost couldn’t believe my ears but my wife confirmed what I thought I heard. We watched a news report that stated people were considering an upgrade to a 4WD vehicle—due to the recent […] Read more »

The Debt Snowball – Do It Your Way!

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The Debt Snowball There are so many ways you can pay off your debt.  Of all the methods out there, the one I like the most is the one Dave Ramsey teaches.  The debt snowball is the second baby step in the Total Money Makeover.  You generally start your debt snowball once you have saved AT LEAST $1,000 for your baby emergency fund.  The idea is to give yourself a buffer so that as you are paying off your debt, you will be able to handle life’s little problems without having to borrow money in the process. Dave’s Snowball method […] Read more »