Weathering Economic Recessions – One Man’s Approach

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Many of us are wondering when we’re going to punch our way out of this economic recession we’ve been wallowing in for the past five years or so. It’s anyone’s guess, but I’d say we’re going to be in it for quite a while, and perhaps it will get even worse, simply because so many of us only learn the hard way. It seems we insist on repeating failed behavior patterns largely because they’re what we know and are comfortable with. Failure to obtain different results by doing the same thing again and again apparently has no bearing on the matter; we do it anyway. Read more »

Youth Sports: Are They Worth the Expense?

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My son has been involved in youth sports since he was three. We have run the gamut; gymnastics, karate, soccer, wrestling, lacrosse, and football. My initial goal in exposing him to youth sports was to have him expend some of his little boy energy in a way that was safe and fun for him. Little did I know the love for competition would blossom at such a young age; he is addicted… to thrill of practice, games, and being a winner. For those of you that don’t know me, I am a divorced single mom and my son is a […] Read more »

Failing Financial Literacy?

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Financial Literacy Month is a great time to take a look at how we are doing when it comes to making the grade with our financial knowledge. Millions of Americans are failing miserably and among them, are college students. With little financial finesse and the freedom to make their own decisions many are starting their financial lives in need of debt help. Researchers from five American universities recently conducted a survey on credit card debt and financial literacy among college students and released the results in April just in time for Financial Literacy Month. The findings confirm that our youth […] 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 »

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 »

When Should You Give Up?

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Photo from Flickr by Brian Carlson, Houston, Texas

I’ve been thinking a lot lately about difficult situations. When is enough enough? How do you know when you should just focus your energy elsewhere? Sometimes life can really make you feel like you are beating your head against a brick wall. A lot of the articles on Enemy of Debt talk about persevering. However, there may be times when it is a smarter financial move to just give up. Here are some financial examples of when you might want to say, “Enough!” Making payments on something that isn’t worth it This could be a house, car, or something else. […] Read more »

The Danger of Listening to the Crowd

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Thanks to Brad for finding this article in the Palm Beach Post, “Why are Americans avoiding stocks? Ask a Shrink”. Since the market drop in 1987, people have been focused on the market bottom instead of the top. In general, news focuses on the negative and the financial news of the past decade has lived down to expectations. But the reality of both short and long term market performance shows a different picture. Since the fall of 2007 and 2008, the major market indices are up and dramatically. The two year returns for domestic large, mid, and small cap stocks, […] Read more »

Improve Your Blog, Improve Your Finances

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As a blogger who writes about money, I often draw parallels to money and life. But it wasn’t until recently that I realized how closely improving a blog is to improving personal finances. Here are just a few ways that I’ve noticed: Start with one thing When I decided I wanted to write a personal finance blog, I had to pick what I wanted to write about. I wanted it to be more focused and detailed than my previous blog and I knew that I had to write about what I know. Since I know nothing about investing and I […] Read more »

How To Ask For Help

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Asking for what you want is critical to meeting your goals, but it's a surprisingly difficult thing to do. I know I struggle with it all the time. When I ask someone for help I worry that I'm bothering them, or taking advantage of them. What's weird is that I don't worry they will say "No". I'm actually more worried that they will say "Yes"! If they agree to help me I worry they won't follow through or they are secretly mad at me for "making" them help. The reality is that no one gets anything done alone. We all need help. Read more »

The Lost Subject: Personal Finance

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Were you taught about money and personal finance when you were in school? I wasn’t. Even today personal finance is not taught in most schools or considered a curriculum requirement for college students. How do we expect today’s youth to stop the vicious cycle of debt if we don’t teach them how? The latest report from the Federal Reserve shows that consumers are still using their credit cards in a big way; revolving credit, which is made up primarily of credit card debt rose to $801.0 billion. It’s obvious the cycle continues as millions of Americans rack up debt and […] Read more »

Tough Financial Shape? Just Listen for the Call to Action

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At one point or another, many us will recognize that we're in tough financial shape, and that becomes our call to action. We ought to be thankful we can hear the call when it comes, because for some of us, we don't "get off the dime" and act in our own best interest until it's absolutely necessary. And, some of us are financially hard of hearing. Recently, I've had the opportunity to peek in on the lives of others, through social media, and learn a little about their challenging financial conditions. I'd like to share some of my observations, and insights and suggestions, in an effort to get some value out on the table. I do this in the interest of helping others understand there are various indicators that we should recognize as a type of wake-up call. We ought to create insights regarding these indicators, and put them to work for us, so we sleep better at night. Read more »

3 Ways You Are Holding Yourself Back and Tips for Changing Them

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Are your finances a mess and you know it? Do you know what you SHOULD be doing but haven’t made any changes? Are you avoiding logging into your accounts to see what damage you are doing? If you are anything like I was and at times, still am, then you are setting yourself up for further failure. Something, or maybe more than one thing is holding you back, do you know what it is? Here’s 3 potential ways you are roadblocking yourself from being in control of your finances. Fear Fear can be crippling. It can hold you back from […] Read more »

Buyer Beware Hidden Charges May Be Affecting Your Bottom Line

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You are one of those people that diligently budgets for every expense, cuts costs wherever possible–a sheer genius when it comes to personal finance. So why does it seem you just can’t get ahead as a middleclass American citizen doing all the right things when it comes to sticking to your budget? The economy has taken its toll on just about everyone, both consumers and business. In fact either you or someone close to you has likely fallen victim to a foreclosure, layoff, or downsizing. When you fill up at the pump you wonder when a gallon of gas and […] Read more »

How Do You Choose to Handle Change?

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Anyone who knows me, also knows how often I can be found at Starbucks.  Several locations fix an Iced Quad-Shot Espresso when they see me pull into the parking lot.  That is, after all, my preferred drink and has been for several years now.  Originally, my drink was a Grande nonfat, with whip, Mocha.  After several years, I chose a Grande Iced Coffee.  Then, my doctor suggested espresso since it has less caffeine and much less acid than brewed coffee. (I know it doesn’t sound right, but see references below). Even though it has a stronger flavor, espresso is lower […] Read more »