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Carnival of Debt Reduction: Tips via Twitter Edition

by Flexo

Welcome to the Carnival of Debt Reduction, a traveling weekly roundup of the best articles in the blogosphere covering credit cards, consumer debt, mortgages, and the elimination thereof. Here is more information about the Carnival of Debt Reduction, founded by Mighty Bargain Hunter. Through this past week, many bloggers submitted articles to be featured in ... Continue reading this article…

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3 Major Ways to Scrimp and Save in an Economic Recession

by Flexo

When the economy is growing and consumer confidence is high, it is common not to think twice about saving money and reducing expenses. If you are saving money every paycheck, investing in a 401(k) or other accounts for retirement, and spending less than you are earning there isn’t much motivation to reduce your expenses further. ... Continue reading this article…

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Take Control of Your Finances Part 6: Get Out of Debt

by Flexo

Debt is like indentured servitude. You work and earn income, but you hand over that income to someone else. With debt, your finances are controlled by someone else, not you. For example, credit card companies have the right to change your interest rate at almost any time with advance notice. In fact, CitiGroup recently raised ... Continue reading this article…

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Emotions and Money: When to Keep Them Separated

by Flexo

Human beings aren’t logical, and it doesn’t take a scientist from Vulcan to prove that fact. A corollary to this statement is that human beings do not make logical decisions when it comes to their personal finances. Consider some things that could happen if people thought about the financial consequences of every choice: People would ... Continue reading this article…

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Ten Things to Do With $1,000 (Plus 21 More)

by Flexo

If you’ve suddenly come upon $1,000 you didn’t have the day before, you may get the urge to celebrate. $1,000 doesn’t open many new opportunities to you these days, but there are a number of options. Kiplinger has published a special with 37 ways to invest $1,000, but I have a few suggestions of my ... Continue reading this article…

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Dave Ramsey’s Baby Steps

by Flexo

I’ve done a good job of sharing my disdain for Dave Ramsey’s popularization of a method of getting out of debt that caters to unmotivated individuals, the “Debt Snowball” method. That doesn’t mean I don’t agree with his principles or his intentions. I just think he, as one of the most popular “gurus” in personal ... Continue reading this article…

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The Path to Mediocrity: Doing What Works For You and Other Self-Limiting Philosophies

by Flexo

General advice for an imaginary average person Personal finance advice comes in many forms, running the gamut from Dave Ramsey’s philosophies on getting out of debt to Suze Orman’s no-nonsense anti-stupidity spending advice. Opinions vary wildly as you stroll down the promenade from the broker, a salesperson, to the financial planner paid by the hour ... Continue reading this article…

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Can You Eliminate $500 of Your Expenses Each Month?

by Flexo

I may have fallen back into old habits. Several years ago, when I was refreshing my life and beginning to control my finances, I made deep cuts into my expenses. I took on three roommates, paying only $325 a month for my portion of rent. I didn’t own a car and relied on mass transit ... Continue reading this article…

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