Using Checks is Bad For My Finances

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I stared in confusion at the papers laying on the kitchen table as I attempted to reconcile our checking account. My mortgage statement said the amount due was $1543 as it always does. The numerical dollar amount written on duplicate of the check I dropped off at the bank matched, as did the receipt I got from the teller. But that’s NOT what the written amount on the check said. The written amount was, “One thousand forty three dollars.” I had apparently omitted the “five hundred” when I wrote out the check. I needed to find out exactly how the […] Read more »

There Is No Magic Pill for Debt Freedom

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I can’t tell you the countless times I have been tempted by the magic pill. You know the one I am talking about; the one that claims you can lose 20 pounds in one month without exercising, get rich working just four hours a day, or the one you can take to get rid of your debt. The magic pill seems like an answer to your problems and the best part is you don’t have to do anything except swallow. Who wouldn’t be tempted? The problem with magic pills is that they are missing the key component to accomplishing any […] Read more »

I Improved My Marriage by Talking About Money

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I was describing how I used to hide our debt from my wife this past Saturday in an interview with Gerri Detweiler on Talk Credit Radio, when I said the words: “I betrayed her trust, and it’s taken a long time to recover from that.  In fact, we’re still recovering from it.” I may have typed similar words before in a blog post or two, but I don’t recall ever ever having said the words out loud. I didn’t particularly like how they sounded, but they were true.  The magnitude of our debt had been a huge secret for many […] Read more »

I Love You Like a Blogger Roundup – 10/5

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After last week’s marathon (which I finished in 4:05:47), I’m looking forward to staying at home this weekend and having poker night with the guys in my neighborhood.  It’s always a good time.  I’m also going to fire up the smoker and make something on Sunday to eat while I’m watching football.  I’m thinking baby back ribs, what do you think? Speaking of things that are smokin’  here’s my favorite posts from the past week: Favorite Posts: If Something Looks Too Good To Be True, It Probably Is from Money Beagle Stalking Property Tax Records found on PTMoney Jokes on […] Read more »

Life is about Experiences, not Money

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Yesterday, I ran the Twin Cities Marathon for the third time. I’m not an elite runner, so my goal isn’t to win, but to simply finish with the best time possible. But I approached this one a bit differently than the previous two. I wanted it to be about more than just an internal struggle to finish. I wanted to fully experience everything the marathon had to offer. Marathons across the United States have become more than just a race, they have become events with cheer zones, bands playing along the way, people dressed up in costumes and spectators with […] Read more »

7 Habits of Debt-Free People

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As an indebted individual I always admire those that live a completely debt-free lifestyle. My in-debtedness is for the most part to what most consider “good” debt; a mortgage and a few outstanding medical bills. My goal is to set up a payment plan for them and pay them all off by this time next year. I cut credit card debt out of my life in my late twenty’s only using credit cards to my advantage and paying the balances in full each month. Living debt free is a lifestyle choice that requires hard work and an affirmation for saying […] Read more »

Chase Put Me On the Road to Financial Recovery, But it Cost them $100,000,000

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I recently received an unexpected letter in the mail from a law firm. Curiously, I opened the envelope, and read the title of the enclosed letter: Notice of Proposed Class Action Settlement and hearing to Chase Credit Cardholders I was instantly reminded of the terror that I felt back in June of 2009 when we received five identical envelopes in the mail from Chase; one for each of the credit card accounts we had with them. The letter inside stated that terms of our accounts were being changed, and the minimum payment percentage was being increased. Our monthly payment was […] Read more »

How Am I Paying Off $109,000 of Credit Card Debt?

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My wife, Vonnie, and I are on a journey to pay off 109K in credit card debt through the help of a Debt Management Program. We started our journey in July of 2009, and are expected to be rid of this behemoth mountain of debt in March of 2014. Some of you may be wondering, what exactly is a debt management program (DMP)? There is a lot of misinformation about the debt relief industry floating around, so I felt it this would be a great forum to explain what a DMP is, and how it is helping my family get […] Read more »

Overspending, Failure to Track Expenses, and A $100 Loan Equals….Success?

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Trying to recover from overspending during the first half of July, Vonnie and I planned our spending  for the rest of the month with only bare bones funds available.  We even sat the kids down and explained to them exactly what was going on, so that they would have realistic expectations in regards to family activities for the remainder of the month. We had a plan that looked great on paper, and we were confident we could execute it successfully. And then real life happened. The first weekend was supposed to be one of those “enjoy what we have at […] Read more »

Weekend Links and Love

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Vonnie and I have been working hardcore on our budgeting and communication skills over the last month. We’ve been digging ourself out of a bit of a financial hole due to overspending the first half of July and I’ve really been leaning on my blogging friends for inspiration during this little rough spot. Check out some of the posts that have really struck a chord with me this week and helped me keep rocking the budget and the lines of communication open. “I Want To have fun” – One of the Worst Excuses for Not Saving from Financial Samurai The […] Read more »

Does Your Wallet (or Purse) Reflect Your Financial Goals?

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If you love sitcoms, you may be familiar with a show that aired during the 1990’s called Seinfeld. If so, surely you remember an episode that mocks the size and fatness of George Costanza’s wallet. He would put everything in his wallet including money, receipts, numbers, coupons and even candy. I was sitting in my office the other day and became painfully aware that my wallet had become just a little too thick. It was time to do one of those periodic cleansing of the wallet to purge those things that I don’t need to be sitting on for 10 […] Read more »

Financial Lessons: I learned It by Watching You

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The 1980’s anti-drug public service announcement where a father finds his son’s drug stash and confronts him, only to learn the horrid truth, “I learned it by watching you.” Some things never change and the depths of your parental influence run greater than you may think. Your kids are watching your every move, even how you manage money. Every moment can present a learning opportunity. Think about the typical week… Monday: You are dropping your child off at school and they remind you they don’t have any money in their lunch account. You respond with an off-handed, “I’ll just wait […] Read more »

My Class Reunion, Was It Worth It?

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Smokin’, drinkin’ and partying too, we’re the class of Ninetytwo! This past weekend I traveled to my hometown to celebrate my 20 year high school class reunion (yikes). My classmates who organized the reunion did a spectacular job putting together an entire weekend of events ranging from a golf outing, to an outdoor meet and greet, a dinner, a pool party and a reserving a special section at a community event involving live music and rib tasting. Vonnie and I had a blast at both my five and ten year reunion, so we were looking forward to this one as […] Read more »

A Glass Of Wine, A Sign, and An Obstacle Walk Into a Bar….

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Vonnie and I went to the end of the school year staff appreciation function for her new job. It was at a bar and grill and I figured it would be a great way to put faces with the names of people she’s been talking about for the last 6 weeks. As Vonnie ordered a glass of wine, I stepped onto the outdoor patio to take a phone call. While I was on the phone, Vonnie and one of her co-workers walked by me making the “going for a smoke” sign with her thumb and index finger pressed together and […] Read more »