Why Do We Get Into Debt?

Debt has a way of sneaking up on us. It seems as though one moment we are free and clear and the next we have a mountain of trouble in the form of money owed. Knowing why we can get into debt is the first step to preventing it from getting worse or from happening at all. Here are some common reasons why we get into debt and how we can minimize out risk of debt in the future. Unexpected Expenses or Loss of Income An unexpected expense or a loss of income can plunge even the most affluent families … Continue reading

Financial Advice I Wish I Could Tell the Earlier Me

Once you get to a certain age, you are supposed to be wiser, right? While I’m not ready for the retirement home yet (I don’t think they would let me bring my three school-age kids), the fact is that I no longer have as many years ahead of me as I once did. I do have a little more wisdom than I did then, especially when it comes to financial strategy. It is too bad that we can’t go back in time, isn’t it and give my younger self some financial advice? If I could go back in time, I … Continue reading

Small Temptations

Sometimes it’s not the big expenses that shatter your resolve to save money, it is the small temptations that will get you. It is those small temptations that I, personally, most have to guard against. For example, although my husband and I often like to stop at the Apple store and look at the iPads whenever a new one is released, we aren’t in danger of purchasing one any time soon. It just doesn’t make that much sense to spend that much money when our emergency fund isn’t, well, as fully funded as we would like and we still owe … Continue reading

Do Debt Consolidation Loans Work?

Consolidation loans, or consolidation of debt may work for you in your goals to get out of debt. Consolidation has some benefits, but it also have some risks as well. Find out if consolidation loans would work for you. To consolidate your debt, you would take out a new loan that covers the cost of all of your pressing debt. The new loan pays off all of the others, leaving you with one loan. This consolidation loan must still be paid off, of course. Consolidation loans can make it a little easier to keep up with your debt, since it … Continue reading

To Get Out of Debt, Start Small

The bills are piling up in the corner of your desk, and it seems that every day the mail brings a new stack to deal with. Although the collection agencies haven’t started calling yet, you know that it is only a matter of time before they do. You want to get out of debt and get back on track, but the whole thing seems so overwhelming. Fortunately, it really doesn’t have to be. Just start small and go from there. Most financial advice about debt will guide you toward paying off the debt with the highest interest rate first. This … Continue reading

Seven Ways to Save Money on Everyday Expenses

Minimize the cost of running your home when you use the following tips to save money on those everyday expenses. 1. Combine services It isn’t only your cable service that offers bundling. Once you are done combining your Internet, phone and cable television into one package, move on to other services that be combined in order to save money on your monthly expenses. For example, you can combine your home and auto insurance for a lower overall rate. 2. Pay your bills on time That $5 or $10 a month may not seem like much, but in the course of … Continue reading

The Whopping Family Cell Phone Bill

Cell phones as we know them are only a few decades old, and yet it is hard to think about living without them, despite the fact that humankind survived centuries without cell phones. It isn’t unusual these days to be spending $250 or more a month for your family cell phones. In some families, the cell phone expense may be the second highest monthly bill, after the mortgage or the rent. Doing without other things, from eating out to dental care (in some cases) in order to afford cell phones has become the norm. How did things get so crazy? … Continue reading

Life Insurance From My Mortgage Company?

Yesterday, I got a strange piece of mail from my mortgage company. It wasn’t a bill, and it wasn’t a notice about a late payment. I wasn’t a cancellation notice, or anything related to my mortgage. Instead, it was information about a life insurance policy that I can buy from my mortgage company. That was unexpected! For most people, it is a very good idea to have life insurance. A good life insurance policy will provide your spouse and children with the financial assistance that they would need in order to continue living their lifestyle after you have passed away. … Continue reading

Open House by Elizabeth Berg

Sometimes life changes in an instant. At least is seems that way to Samantha. One day she was a happily married woman raising her son Travis, and the next her husband wanted a divorce. In the beginning, Samantha is waiting for David to return to her, to realize it was all a mistake and that he loves her still. While she is waiting she goes on shopping sprees at Tiffany’s, and tries to become a different woman, one who serves her son breakfast in the dining room. Her most pressing problem is money, David thinks they should sell the house … Continue reading

Alleviating Financial Stress

Has anyone claimed the $336.4 million Powerball jackpot? The winning ticket was sold in Rhode Island earlier this month. Goodness knows it wasn’t sold to me… otherwise you wouldn’t be reading this post. Talk about alleviating financial stress. Even if the winner took the lump sum payout, he or she would still walk away with more money than anyone could possibly spend in a lifetime. Well, maybe. Living in debt and trying to survive paycheck to paycheck can be physically and emotionally draining. However, there are ways to stabilize your financial footing, even when it seems like the deck is … Continue reading