Archive for September, 2009
Stuck in the Midst of Debt
Debt is perhaps one of the most pernicious things known to modern mankind. As nobody likes to own someone something (not even a kind remark), we soon become obsessed to pay back our due. Some do it by spending less, cutting back on their lifestyles through frugal habits, others will get a second job or study in the hopes of earning a promotion and generating a bigger income. We all do this because we desire much, hate debt and want to sleep in peace.
Debt is stressful
Do you ever fast?
A fast is an ancient religious practice. Fasting typically involves the voluntary abstinence from food and/or water for a period of time. There are many reasons for fasting. Some individuals partake in fasts to please their god. Others use fasting as a part of their health routine; it is a way to cleanse the body of toxins. Still others use the fast to focus the mind or to exercise control over their bodies. Sometimes food becomes too large a part of our lives and a fast can help us practice self-discipline. From time to time we will hear about a prisoner or a celebrity going on a hunger strike in order to protest some injustice.
Friday Gathering: Floods in the Southeast Edition
Here are several articles that I found interesting during the past week:
If you are a first time home buyer, you might qualify for an Federal Housing Adminsitration backed loan. You can read all the details at Bargaineering. One statement that I found a little brow wrinkling was the FHA uses no tax-payer funding . . . could be, I guess.
Christian PF asked the question asked the somewhat inflammatory question, Is Capitalism “Anti-Jesus”? Sounds like a topic that I might like to tackle.
Get your finances under control in a single day.
Many people in today’s economy are struggling to stay afloat. They are working to rein in their spending and get their finances under control, but when they see the amount of debt they have, or the 0 balance in their savings or retirement accounts they feel overwhelmed. The good news is that regardless of how big of a challenge your getting control is for you, you can do it. Doing so actually isn’t that hard, but it will take time. Here’s how to get control of your finances in a single day:
American Opportunity Tax Credit
As a general rule, I typically oppose almost all federal government spending on anything other than the responsibilities expressly outlined in our Constitution. I believe that such expenditures result in waste, corruption, debt and a limiting of the right to “life, liberty and the pursuit of happiness”. Much of government sponsored financial aid has really only served to drive up the price of a college education and increase the amount of our national debt. That said, if the government makes such money available, you should probably take advantage.
Facing My Biggest Challenge For 2009
During the Holidays or upon the beginning of a New Year, many of us have the habit of establishing our goals for the upcoming year. Personally, I like making my “to do list” at that time of the year as well. Writing down my goals is usually the very first step to achieving them. Writing includes a sense of commitment. This commitment becomes even bigger when you blog about your goals as many readers know about them. Most of the time, my goals are based on my financial situation: I want to improve my savings, pay off my mortgage, increase my income, etc. However, my biggest challenge and what became my main goal in 2009 was totally unexpected back in January.
Thoughts about saving for retirement
I am really discouraged about my retirement savings.
I understand the importance of saving for retirement, but debt reduction is our number one priority right now.
My job has a great 5% matching program, but we are still almost living month to month and cannot seem to squeeze out the extra money necessary to enter this program.
I am 35 years old – not too late to start saving, but every day I am losing money.
Friday Gathering: Office Premier Edition
Here are some articles that I enjoyed this week. I hope you enjoy them as well.
I wrote about the Christian’s approach to the black market. Several readers weighed in with some really good thoughts.
Mrs. Micah celebrated a birthday – I think she might be younger than you think.
Mighty Bargain Hunter wrote about stockpiling food . . . are things really that bad?
If you are a first time home buyer who is considering purchasing a house, you need to read this post at Green Panda Treehouse. Home ownership can be a great thing, but make sure you know what you are doing.
How to be debt free
How to be debt free is a question I get asked often via email. The process of getting of out debt is easy…but actually doing it is hard. See, getting into debt is easy. It only takes a few minutes to make a $5,000 purchase on a credit card. Paying it back though can take years.
In debt and want to get out? Here’s how:
- Commit yourself to paying off your debt. Make it the most important thing in your financial journey. Swear that until you pay off your debt, you won’t buy anything you don’t need.
