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 […]

Also posted in Credit Cards, Investing, Retirement | Leave a comment

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 […]

Also posted in Budget, Debt, Motivation | Leave a comment

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, […]

Also posted in Budget, Debt, Investing, Retirement | Leave a comment

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 […]

Also posted in Debt, Investing, Retirement | Leave a comment

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 […]

Also posted in Budget, Motivation | Leave a comment

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 […]

Also posted in Credit Cards, Motivation | 2 Comments