Category Archives: Philosophy

Credit Card As Emergency Fund

A couple of weeks ago I saw a ten dollar bill for the first time in months — I witnessed a friend pay a debt back to another friend.  At that moment I realized how long it had been since I personally held a bill like that in my wallet.  The ten actually looked strange [...]

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Cost To Live

How many of us know exactly how much money we need each month to get by? As a member of a family who has gone through a successful personal finance renaissance I can tell you that figuring this number is a notable achievement.  And there are a few reasons for this: Allows You To Create [...]

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Growing Money in the Face of Debt

We’ll be celebrating our third anniversary in our house this June.  We financed our home with a traditional 30 year mortgage at 6% and then refinanced within a year to obtain 5% rate on an FHA loan.  So we have a little over 28 years left if we continue to repay as scheduled. Meanwhile, after refining and scrutinizing our budget, [...]

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When To Invest While In Debt

On one hand, we are in debt.  We have outstanding balances on a mortgage, student loans, and a few low-interest credit cards.  Overall, the weighted average of all interest is 5.25%.  But we are totally comfortable with this debt, and we are not presently accumulating more debt. On the other hand, we have opportunity to [...]

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Getting Paid: curbing the impulses generated by a lump sum of money

I drove home yesterday with a paycheck in my pocket.  As I was driving I began to recall how different my mindstate was a year ago.  Back then I would have been overwhelmed by the thrill of receiving a lump sum of money.  I would have been proud of myself for having earned it and [...]

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Mistakes of a Credit Card Debtor: AutoPay Breeds Set-and-Forget

Paying the minimum payment on your credit card each month through auto-debit is undoubtedly incredibly convenient. I should know because I employed this method on all eight of my cards for several years. Besides being convenient, setting up automatic minimum payments can easily be construed as the responsible thing to do — after all, you are [...]

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