How to avoid filing bankruptcy? We should revert to the old rules of family finance, even guru Suzie Orman agrees. Remember, those Depression era folks? Some are still around, like my in-laws. They considered it damn near a sin to borrow money. Pay interest? No way. Never had a credit card or a car…
Category Archives: Family Finances
Debt Management Plans
Alzheimers is not pretty. Nor is senility or any other form of dementia. It puts an enormous strain on the spouse and other family members. So, if a couple has debt problems, and one has dementia, a Debt Management Plan is just what the doctor ordered, right? Shockingly, the National Foundation for Credit Counseling…
Financial Literacy For Couples
I have an aunt and uncle who were married many years ago. The priest told them, in advising them of the respective marital duties, that it was the husband’s task to run the family finances. This did not work from the start, but they endeavored to abide by the priestly directive. As long as they…
The Truth About Student Loans
American youth has been sold a bill of goods, get that college education, you will make more money, it will pay off in the long term, buy now, pay later, get student loans! Lenders even market to unemployed people, borrow our student loan, get that degree that leads to employment! Yet, more college graduates are…
5 Worst Insurance Bets
I have selected my five worst insurance bets. What are yours? 1. Credit Life You are already in the hole, you owe money, and they tell you, hey, you want your spouse and kids saddled with this debt? Oh no, me? I am a nice guy, I don’t want to do that. Most likely, check…
Is Your Main Squeeze A Spender Or A Saver?
Don’t let financial incompatibility kill your relationship! Or, maybe you should, sooner being better than later. If you are a spender and she is a saver, something’s gotta give. Apparently, we are more reluctant to talk to our partner about finances than almost anything else. The potential problems of a financial spender-saver mismatch are covered…
Best Bank To Open A New Account In?
Which bank should have your money? Banks are back to bidding for new customers, many offering cash for opening a new account. Lots of them require you to set up direct deposit of your paycheck. So, if you are like me, and do not get a paycheck, no go. Mark Riddix explained what he researched…
But, I Have To Have A Credit Card!
Those poor banks can hardly make an honest buck any more! They had contracts, which their lawyers wrote that allowed them to change the terms any time they felt like it. So, Congress said, hey, no fair! and passed a law against it, the CARD Act. As their lobbyists squawked while the law was being…
Tithing While In Debt?
I am all for tithing, I think it is a very spiritual thing to do. The trick is, tithing from what number? Is tithing a budget essential? I have seen many bankruptcy clients over the years who were tithing, insisted that they had to keep tithing, even though the house or car payment was not…
Hang Onto Your Cold Cash
So I read this idea in Reader’s Digest decades ago. So goofy it stuck with me. Now, this was in the days before debit cards existed, and there weren’t 50 million Capital One cars floating around. So, people paid with checks or cash. Now, this tip only helps if you have stopped using credit and…
