We are a nation drowning in debt. According to a recent NerdWallet survey, the average U.S. household carries $130,922 in total debt, including student loans, automobile payments, mortgage debt and an incredible $15,762 in outstanding credit card debt. While it would be easy to pin our excessive debt on reckless spending, can this completely explain the source of our … [Read more...]
Have Debt? Have No Savings? Make These 4 Breakthrough Money Moves to Easily Live Below Your Means
I was speaking to a girlfriend that was looking for advice on how to manage her finances better. She was proud to share that she had no debt, but when it came to savings, she had none of that either. Living Beyond Your Means I know for some, this is a hard concept to grasp. We usually hear of people living in debt and with no savings. It seems like it’s one problem. However, … [Read more...]
How to Overcome Emotional Spending in 4 Critical Steps
Life may be beautiful, but we all know it isn’t always easy. When life gets tough, many of us resort to hitting the malls and online sites to help ease the jabs and punches of life. But looking for happiness or relief through spending only brings about temporary happiness and permanent debt. So before you break out your credit card the next time life is not going your … [Read more...]
Singles: 4 Important Ways to be Financially Prepared for Marriage
Okay, I know you are tired of hearing, “You need to know how to budget before you get married”, or anything with the word budget in it. This point is not about learning how to budget because honestly, I want you to be able to buy your Starbucks, go on that vacation, or purchase those new jeans. Budgeting could help you eventually attain it, but it would take a lot longer than … [Read more...]
Money Monday: Your Past Financial Mistakes Hold the Key to a Wealthier Future
“President Clinton today projected that the United States will have a $1.9 trillion budget surplus over the next decade. He said the increase in the expected surplus means the government will be debt-free by 2010.”?- ABC News, December 28, 2000 During the last years of the Clinton administration the nation was on pace to become debt free by the year 2010. Instead, we’re now … [Read more...]
Single and Saving in The City: 4 Ways To Date Without The Debt
They say "love don't cost a thing", but we all know that dating sure does. Keeping an active social life while guarding your long-term financial goals such as property ownership, zero debt, advanced study, and a secure retirement don't have to be mutually exclusive. Incorporate a couple of these "single and saving in the city" tricks to balance the need to live life fully in … [Read more...]
Future Debt a Concern for Students Considering College
At one time, at the forefront of the decision on where to go to college was some dialogue on the college’s reputation. Depending on what you were looking to get your degree in, one would opt to pick a school that was “known” for such. For those who were looking to get in on the social scene the school’s reputation when it came to school involvement and engagement might have … [Read more...]
Money Monday: Retailers Can Now Charge You A Credit Card “Checkout Fee.” Are You Willing To Pay It?
Just when you think you're up to your eyeballs in fees here comes yet another one. As of January 27th retailers are now allowed to charge you a fee for using a credit card. This surcharge could be as high as 4% of the amount of your purchase. The new charge, known as a "checkout fee", is the result of a class-action lawsuit brought by retailers against MasterCard, Visa, and … [Read more...]
Money Monday: How We Make Others Rich but Ignore Our Own Wealth Everyday
Do you realize you're making other people rich every single day of your life? If you're like many of us, you toil endlessly long hours working in someone else's store, on someone else's construction site, or for someone else's company. And while you take home a paycheck, you're not the one receiving the greatest benefit from your labor. No, it's often the business owner, CEO, … [Read more...]
Money Monday: Which Of The Seven Deadly Money Mistakes Do You Make?
The road to financial freedom is littered with potholes, but you can make your journey a little smoother if you avoid these common financial mistakes. Mistake 1: We have no idea where our money is going. Quick, how much money did you spend on groceries last month? How much did you shell out for entertainment, clothes, or dining expenses? The sad truth is that most of us … [Read more...]
Financial Infidelity: What’s Out Of Bounds?
I think that most of us have a level of clarity as to what infidelity is in a relationship. It is when someone cheats, creeps or steps out on their significant other. Simply put, it has to do with the breaking of an agreement or bond. Whatever one chooses to call it, the consequences initiate a brutal strain on all aspects of trust related to a committed relationship. The … [Read more...]
Money Monday: Is A College Education Worth It Any More?
They played by the rules. They studied hard and made the necessary sacrifices. But after four years of grueling work, today's college graduates face the bleakest job market in decades. To make matters worse, grads face unprecedented student loan debt with no means of even beginning to pay it back. It's easy to see why many graduates see college as a bad investment. The … [Read more...]
President Obama Unveils Plan To Ease Student Loan Debt
From CNNMoney.com: The White House announced on Tuesday two new measures the Department of Education will start offering in January to help college graduates climb out of their student loan debt hole. One of the proposals would push up the start date for more favorable terms on a special loan repayment program based on income, said White House domestic policy … [Read more...]
Money Monday Rewind: Should You Lend Money To Friends Or Relatives?
Writers at Money magazine asked the question: Which would you rather have "“ a bad case of the flu or a relative ask you for a large loan? Not surprisingly, more than two thirds of the survey respondents answered they would rather suffer through the flu. Lending money to relatives can turn into a real sticky situation, altering the dynamics of the relationship. As the … [Read more...]
Building Wealth For My Family One Paycheck At A Time
By L. Marie Joseph It has been several years since I have graduated from college. During my 20s, I had no emotion with money. I spent every nickel I earned and selfishly brought every new and shiny thing excited me. I bought a brand new car. I ignored my student loan debt. I never gave money to any charity. My paycheck was already accounted for before I … [Read more...]