What Will You Do With Your “No Restaurants in November” Savings?

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If you’ve accepted Brad’s challenge for No Restaurants in November by the end of the month will have saved up a sum of money. Last year, Brad saved $524.25 during the 2010 version of No Restaurant Month. Your savings will depend on how much you make and then spend at restaurants. When November ends, what should you do with the money you saved? Pay down your debt! First, if you have debt, use your November savings to reduce your outstanding debts, particularly the higher interest rate credit cards. You might think about what those balances represent and, if it’s financing […] Read more »

Do You Rent or Own?

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And no, I’m not talking about houses here. I’m talking about your money. I’m talking about my money. Do you own your money? Or do you rent your money? For the past 19 years, I’ve been renting my money. For the past 19 years, I’ve been in debt in one way or another. Car loans, students loans, credit cards, mortgages, equity lines, business loans, and personal loans. For the past 19 years, I’ve been paying other people for the privilege (seriously makes me want to gag) to rent their money. Chase United Mileage Plus card offered me a deal to […] Read more »

Three Keys to Financial Fitness

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I was planning on writing about a new survey from Prudential Retirement Services today. It is a very interesting survey from 2006-2011 of primary or joint financial decision makers who are between 45-75, have a household income of at least $100,000 ($50,000 if already retired), household investable assets of at least $100,000, and retirement savings of at least $100,000. Many who fall in this “retirement red zone” have serious concerns about their ability to maintain lifestyle in retirement. For those of you who would like to read the study, here’s a link to the Prudential website: http://news.prudential.com/images/20026/2011ChangingAttitudesAboutRetIncome.pdf It is worth […] Read more »

5 Ways to Plan for your Family’s Future…Without Going into Debt in the Present

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When you’re responsible for a family, you want to know your loved ones will be cared for now and even after you are gone. There are several steps you can start taking to make certain your family’s needs are met without causing a serious disruption to your current finances. Here are some options to consider. Be Careful at Home Be sensible around your house. Don’t leave unnecessary lights on, and wait until you have a sizeable laundry load before washing clothes in order to save electricity costs. This can also help you reduce your water bill. Check Your Bills Take […] Read more »

Should You Buy Points to Lower Your Mortgage Rate?

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With interest rates at the lowest they’ve been in most of our adult lives it’s a pretty tempting time to buy or refinance your mortgage. One option you often have when negotiating a home loan is whether or not to buy points. What are points? Points are basically pre-paid interest. You will pay 1% of the loan amount to bring down the rate by .125%. So if you are financing $150,000 you will pay $1,500 for one point. The lower your interest rate the lower your payment will be and you will pay the less interest over the course of […] Read more »

Do Our Parents Money Decisions Define Us?

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From a young age I was given the ability to choose how I would spend my money. I was raised in a “typical” family unit with two hard working parents and a younger sibling. We weren’t rich, we weren’t poor we were considered middle class, I suppose. My dad worked long hours as a small business owner (he was a mechanic) and my mom worked part-time so she could take care of us. The family business was passed onto him by my grandfather who came to the states with nothing except the clothes on his back. Read more »

Where Debt Begins: The Disconnect Between Perception and Reality

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If you are like most people today, you have debt payments challenging your future and creating a drag on your ability to invest. In addition to the financial issues debt creates, it also affects how we feel about ourselves and how we look at the world around us. We may think to ourselves, “what’s wrong with me?” or “where did I go wrong?” To move past these feelings, it might be helpful to consider where it might have all started. Read more »

‘Twas the Night Before Christmas (In Debt Edition)

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‘Twas the night before Christmas, when all through my mind Not a buck to my name, not a one I could find; My credit cards are maxed out; but I still need to flaunt’em. While I stand there and watch my finances hit bottom; The children were cozy all snug in their beds, Not a clue in the slightest of the danger ahead; Their beds could be repo’d, or even their pet, We borrowed for everything; and now we’re in debt. A reality check is in order but who will it be, to open my eyes and help me face […] Read more »

Dessert Before Dinner? Why America Sucks At Managing Money

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Photo Credit: Memory_Freak Have you ever wondered why America sucks at managing money? We’re not exactly a country that’s living off of table scraps ya know. We’re considered by most to be a prosperous nation. That may be true in terms of what we have compared to other countries, but certainly not true in terms of how we manage it. When it comes to the money and financial planning department, most Americans appear to be lacking! In America debt is a WAY OF LIFE! From the Joneses to [insert name of Government Bureaucrat here], America has lost its way. People […] Read more »

How Your Financial Decisions Can Impact The Family You Love

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How many financial decisions do you make in a week? From what you buy, to how you pay for it, every time you make a financial decision, the consequences can affect your family. Single? You’re not excluded, because although some of your decisions may not affect your future family, many will, and it’s up to you to recognize the impact of those decisions. Unfortunately, many Americans find themselves suffering from “crisis living”, something I used to be very familiar with. With too much debt and no savings to think of, living paycheck to paycheck is a gruesome reality. The Consequences […] Read more »

5 Money Lessons I Learned From My Chiropractor

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Guest Post by: Kris Bickell. Photo Credit: Podknox If you’ve ever had back pain, you know that it is a constant struggle. Some days you feel free good. Other days you feel the pain. And you’re always only one stumble, bump, or bend from another painful episode. Unfortunately, for many people it’s the same with money and credit card debt – you have good days, and bad days, but you’re just one unexpected car repair bill, medical expense, or home repair from more financial pain. Sure, the bills may disappear for a while, but the struggle to pay off your […] Read more »