Here’s my problem with taking on debt: I have a profound respect for the unknown. For instance, my husband and I work for ourselves. This is an excellent way to avoid ruthless bosses and layoffs. But if one of us were to get injured or become ill, it would be pretty hard to keep business […]

In the new world of unregulated lending, families are barraged with advertisements and offers for a new product:  all the debt they could ever want, and more.  Now, in a single year, more than five billion preapproved credit card offers — totaling over $350,000 of credit per family — pour into mailboxes all across America.
— […]

Money exposes the differences in our personalities, the ways we were brought up, our money beliefs, and goals. The way we think about money and what we do with it reflects what we believe about it. But money issues are buried so deeply in our emotions, it is often difficult to know what we believe […]

A major reason that we give in to our materialistic urges is that we’re creatures of habit.  It might take some thought and effort, but habits can be broken.  So, if you find it difficult to walk past your favorite store without going in, try crossing to the other side of the street.  If you […]

Teach yourself to compare down, not up.  It makes complete sense that you’ll be disappointed if you’re constantly comparing your wardrobe to that of your boss (who earns twice as much as you do) or your colleague (whose spouse created the latest reality-TV smash).  Instead, if you need to compare at all — and most […]

If the Red-Raced Kid (”I want it, and I want it now!”) rules your life, you will stay broke.
— Dave Ramsey, The Total Money Makeover

It’s no fun traveling on the brink of financial devastation, fearful of any unexpected expense which could push you just over the edge.  Living from paycheck to paycheck keeps us on the edge, never having enough money to pay all of the bills and still have some left over; postdating a check or two; writing […]

People are simply amazed that I don’t use plastic. Some are actually “offended” by the fact that I don’t take advantage of the “float”. I’ve had more than one person tell me that I’m “crazy”. On the other hand, I’ve had a bunch of people say, “Man, I’d love to live that way. I use […]

For some reason we have come to accept that if the application is approved, the amount of the credit extended represents entitlement.  If the auto loan is approved it’s as if a mandate has come from on high assuring us that this is certainly an affordable purchase!  We are a nation controlled by debt.
— Mary Hunt, […]

Every time you buy on credit you are converting optional purchases into essential expenses.  Think about it.  Every meal you pay for with plastic, every contract you sign at a health spa, a book club, a record club, a private school, a furniture store, a jewelry store, etc., is adding to your essential expenses list.
— Mary […]

Be careful not to let the money you spend become a badge of your success.
— Suze Orman, The Laws of Money, The Lessons of Life

…you should only buy things that add value to your life.  A budget is, in every sense, your money value compass.  As Covey talks about in Seven Habits, your To-Do list should reflect what you value.  A budget is your money’s To-Do list.
— Jesse Mecham, YouNeedABudget founder; “Interview with Jesse Mecham”

Why is getting out of credit card debt so important?  Because this kind of debt, in which you are paying for your present-day desires at the cost of your future needs, is really a form of bondage to the past.
— Suze Orman, The Laws of Money, The Lessons of Life

Stop wishing for more money and start managing the money you have. Write down how you will spend (or save) your next paycheck—every single dollar of it. Become a skillful manager so that when more money flows into your life, you’ll know where to put it for the greatest benefit.
— Mary Hunt, “Money Myths That […]

Money on its own is neither good nor bad. Our beliefs and attitudes about money are what make it such a powerful force in our lives. And with good reason. Money determines where we live, what we drive, and where our kids go to school. The trouble starts when our money beliefs are not based […]