Subscriber Swap Saturday: No Debt Plan

December 6, 2008 by  
Filed under Blog

Today Mr. ToughMoneyLove wants to introduce my readers to another personal finance blog that I like to read, No Debt Plan.

No Debt Plan is about getting and staying out of debt with a plan.  Kevin, the author, is passionate about budgeting, saving for the future, and using goals to reach financial freedom.  You can subscribe to his blog by RSS or email.

This is the second Subscriber Swap Saturday that Kevin has run.  The basic idea is to get the subscribers of one blog to subscribe to the other blog for at least a week, just to try it out.  After a week if you don’t find that blogger’s content enticing, drop it.  The hope is that over time you will find several writers that you weren’t familiar with that provide meaningful content to you.  (You can read more about Subscriber Swap Saturday at his blog.) 

I had a chance to interview Kevin to briefly talk about himself and his blog:

Read more


Media-Types Struggle to Get on the Same Economic Page

December 1, 2008 by  
Filed under Economics, Spending

I was amused and intrigued by Sunday’s print edition of our local newspaper.  The business section featured four articles under the following headlines:

“Foreclosure Wave Hits Malls”

“Big Players Scale Back Charitable Donations”

“Global Crisis Jolts Tourism in Caribbean”

“Companies Whack Pay Raises, Bonuses”

Definitely a doom and gloom article collection wouldn’t you say?   This selection came from a newspaper with a definite liberal editorial staff.  (By they way, when did organized crime slang like “whack” become a mainstream media headline verb?) Read more


Beware the Cash-Out Re-Fi

November 28, 2008 by  
Filed under Loans and Borrowing

This has been a good news week for homeowners looking to re-finance their mortgage loan into a lower rate.  Mortgage interest rates fell sharply this week following more rescue actions by the government.  The average interest rate for a fixed 30-year mortgage loan dropped to under 6%, a seven week low.   Mortgage loan re-financing activity has already picked up.   Unfortunately, re-financing a mortgage loan also creates a substantial risk that the borrower will end up with a larger loan balance.  Read more


Responsible Credit Score Strategies for Young Adults

August 17, 2008 by  
Filed under Debt and Credit, Spending

You Can Improve Your Credit Score and Build Wealth

Yes – you read that title correctly.   Mr. ToughMoneyLove is going to discuss credit score strategies.  Why?  As I continue my tough love campaign against credit score obsession, I have to acknowledge that it is unlikely that readers will choose my path of being completely oblivious to my credit score. Read more


Lame Excuses for Buying a New Car

July 27, 2008 by  
Filed under Spending

Second only to those who are house poor are those who are car poor:  Their cash flow and budget are demolished by car payments.  Yet these same people are unrelenting in their need to buy new and buy often.  I went on a personal finance message board to gather lame excuses offered by new car purchasers who really could not afford it.  Here are some of them, along with some proposed tough love responses:  Read more


Guilt May Be the Antidote for Debt Addiction

On the various personal finance message boards that I read regularly, it is easy to find posters who debate the wisdom of purchases of non-essential goods and services by use of credit cards and other consumer debt.  The defenders of such purchases are often debt or credit addicts, carrying large balances on multiple credit accounts.  Equally often, these debt addicts argue that their purchases are justified because they work hard and therefore “deserve” or are “entitled to” things that bring them pleasure, even if they do not have the money to pay for them. Read more