It's Part of the Plan

I’ve commented elsewhere about the similarities between weight-loss and wealth-building. Both require “minding the gap” between in and out to make sure you’re consuming less calories and/or spending less money than necessary to achieve your goal. This differs from a marathon in that there is no finish line. What you do must be sustainable. Thus this morning I was watching a video by Dr. Caryn Zinn “…On Fat and Fasting” wherein she enumerates rules for eating. »

The Sky Is Falling

Yesterday I heard a “financial expert” on the radio talking about the recent drop in equity prices. She said, “If you have any big expenses coming up in the next year or two–a tuition payment or something–that money does not belong in the stock market.” What a shining light of financial wisdom in the darkess. Lady, why didn’t you say this last month? Thank you, Captain Obvious. Here’s why I got smarter about finance after I quit paying attention to people like her. »

Appearance of Wealth

If you haven’t read The Millionaire Next Door, by Dr. Thomas Stanley & Dr. Willian Danko, you’re missing a treat. The first thing I recall about this book is his characterization of millionaires in reality. In contrast I remember watching The Apprentice and seeing Donard Trump drive up to his house–a really sweet house–in a really sweet Mercedes Benz convertible. You may think this is what a typical millionaire lives like. »

Snowball Versus Avalanche

Dave Ramsey is widely criticized for advocating the debt snowball. His critics counter with the debt avalanche. Though I’ve nattered on about this topic before, I’ve never pulled everything together on this topic in one place. Until now. Second, let’s define terms. First, let’s examine where there is agreement between Dave and his critics. Debt is dumb. They say Abraham Lincoln freed the slaves. He didn’t. My great-great grandfathers spilled their blood in the Civil War to end slavery. »

Amy Nickson

I had the distinct pleasure of meeting Amy Nickson of Working Moms Word who brings a different perspective to personal finance. I suggested we exchange interviews on each other’s blogs. Thus I’ve drafted some questions that I posed to Amy in the interview which follows. I had forgotten much of when I was digging out of debt and Amy brings some unique perspective. I managed to avoid some of the ways our society sets financial traps for people and thus she has more experience in freeing herself that we should all heed. »