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What Is the Best Savings Rate?

by Luke Landes
Piggy Bank via Flickr

People like rules of thumb and quick answers. When a complicated question can be answered by an authority with a simple response, the reaction is likely to be one of two possibilities: a feeling of well-being and satisfaction if the questioner is meeting the requirements, or motivation to improve if the ideal situation is not ... Continue reading this article…

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Three More Invalid Criticisms of David Bach’s Latte Factor

by Luke Landes
Coffee - Latte Factor

I recently appeared on the Stacking Benjamins podcast to talk with Joe Saul-Sehy about the Debt Avalanche and the Debt Snowball, two very similar methods of paying off existing debt — usually applied to situations that involve mutiple credit cards. They two approaches differ in one important aspect, and I’ve discussed that in detail on ... Continue reading this article…

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Two Invalid Criticisms of David Bach’s Latte Factor

by Luke Landes
Latte Factor

More than seven years ago, I encouraged readers to forget about the Latte Factor. The Latte Factor — a registered trademark — is the core marketing message from personal finance guru and author David Bach. The concept uses a daily morning latte as a metaphor for all small, habitually repeated expenses, that add up to ... Continue reading this article…

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Naked With Cash: Betsey S, January 2014

by Luke Landes
Betsey - Naked With Cash

Naked With Cash is an ongoing series at Consumerism Commentary in which readers share their households’ finances with other readers. These participants benefit from the accountability that comes from tracking their finances publicly and the feedback of the four expert Certified Financial Planners (CFPs). For more information, read this introduction. This year, we have four ... Continue reading this article…

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Do Something About Debt

by Donna Freedman
Credit card debt

This is a guest article by Donna Freedman. Donna has been a staff writer for MSN Money and Get Rich Slowly. She now lives and writes the frugal life in Anchorage, Alaska for Money Talks News and her own blog, Surviving and Thriving. Got debt? Do something about it. That’s the focus of a new ... Continue reading this article…

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Naked With Cash: Laura and Leon, December 2013

by Luke Landes
Naked With Cash - Laura and Leon

Naked With Cash is an ongoing series at Consumerism Commentary in which readers share their households’ finances with other readers. These participants benefit from the accountability that comes from tracking their finances publicly and the feedback of the four expert Certified Financial Planners (CFPs). For more information, read this introduction. This year, we have four ... Continue reading this article…

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Anonymous S, December 2013 Net Worth

by Luke Landes
Naked With Cash - Anonymous S - December 2013

In Naked With Cash, seven anonymous Consumerism Commentary readers publicly track and analyze their finances on a monthly basis. For almost a decade, I tracked my own finances on Consumerism Commentary; now I’m sharing the benefits of public accountability with the participants. I’ve partnered with financial planners who will offer some guidance along the way. ... Continue reading this article…

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Kathleen, December 2013 Net Worth

by Luke Landes
Naked With Cash: Kathleen, December 2013

In Naked With Cash, seven anonymous Consumerism Commentary readers publicly track and analyze their finances on a monthly basis. For almost a decade, I tracked my own finances on Consumerism Commentary; now I’m sharing the benefits of public accountability with the participants. I’ve partnered with financial planners who will offer some guidance along the way. ... Continue reading this article…

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