Are YOU Spending Wisely, or Emotionally?
In the article, “The Cost of Whistles”, I shared with you a story about how Benjamin Franklin once bought an overpriced whistle from a peddler at a fair, and regretted it all his life. What Franklin was trying to teach us with this story was that purchases based on emotion – desire & want – are almost always bad purchases. Whenever you emotionally pass the point where you can no longer “walk away” from ...The Cost of Whistles – Living Successfully
I love reading old books and stories about early pioneers in business. I came across the following article in a little pocket-sized publication series from the 1940’s, titled “The Art of Living Successfully”. I believe that “There is nothing new under the sun but there are lots of old things we don’t know”, as Ambrose Bierce once said (click the link for some great quotes ...Maybe You Just Need To Make More Money?
We’ve spent a lot of time talking about cutting expenses and using your money more wisely. In my experience and study of “money problems”, the consistent theme I’ve discovered is that financial struggle is rarely caused by lack of adequate income. The fact is, people are usually in debt or have poor credit because they don’t manage the money they do make wisely. So that’s why financial advice articles focus so heavily ...Is This Necessary? Evaluating Your Everyday “Latte” Purchases to Save Money
During World War II, when there was a nationwide program of gasoline rationing, there were signs posted along highways saying, “Is This Trip Necessary?” reminding people to not waste fuel. As we begin to get control over our finances, maybe a good sign to carry with us is one that says in bold letters, “Is This Purchase Necessary?” In his book, The Automatic Millionaire...S.P.F. Your Debt – A Formula to Pay Off Your Debts Without Getting Burned
Too many bills? Credit scores suffering? Credit payments taking every last dime each month? You try to pay a little extra on each account, but the balances don’t seem to ever go down? How can you possible get out from under this dark cloud of debt? Well, don’t fret. Sunnier days are on their way, if you can figure out a good way to start getting rid of some of your ...The Half-n-Half Way to Improve Your Finances
With each new article, I hope I’m bringing you some new ideas and new ways of thinking. And hopefully you’ve begun to use some of the strategies that I’ve been sharing with you to improve your credit situation and get control of your finances. In future articles, we’ll be talking about earning more income, spending more wisely, building an investment portfolio, and buying a home, and how to best settle debts. That ...What Type of Mortgage Should I Get?
As you are searching for your home or taking care of your financial situation, let’s discuss what type of mortgage you should get once you’re ready. Rule #1: If you can’t afford a standard 30 year mortgage, you shouldn’t buy the home. Let me put that more snottily: If you want to live in a $300,000 house, you should be able to afford a standard $300,000 house payment. Many of my readers have had financial ...Using a Second Mortgage to Consolidate Debt?
Debt for many Americans is out of control and with all the turmoil in the mortgage markets, does it still make sense to consolidate debt using a second mortgage? The answer is: “Yes” for some people, “No” for some people, and “Maybe” for other people. So, which “people” are you? Let’s look… But before determining whether this is a good financial strategy for you, be aware that you may not qualify ...When You’re Sinking In Debt, A Credit Counseling Service Can Get You Out Of The Quicksand
Debt silently creeps up on many individuals. It's not the debt that traps people in the quicksand of messy finances, but the heavy interest to pay for that debt. If you know your credit line is about to be yanked, and the bills are piling so high that you can no longer see the kitchen table, stop for a moment and take a breather. Weigh your options to see what you can do to grab that ...Latest Articles
Should You Pay Off Your Mortgage Early?
I often find myself in long conversations with my borrowers over the best way to pay off mortgages early. Do I recommend the “Bi-Weekly Payment” ...
Making Sense of the new Tax Credit Extension
Homebuyer Tax Credit Extension
Okay, I think I get it now and I’m ready to give you the scoop on the new tax credit extension. ...
Variable Rate vs. Fixed Rate
Choosing a Variable Rate is like Ordering a Pizza
“Should I pick an adjustable rate mortgage, like a 3/1 or 5/1 ARM, or go with ...
Washington Women Veterans Summit 2009
"Top 10 Ways to Get Out of Debt and Build Wealth" is the title of my workshop at the Women Veterans Summit this year. I’m ...
Know your Statutes of Limitations
“Can you just make a small payment as a show of good faith?” Have you been called by a collection agency trying to collect on ...