Trying to Shine Light into our National Money Hole

“Throwing money down a hole” is a cliche phrase we can all relate to.  For example, boat owners are fond of describing their watercraft as a “hole in the water” into which you throw money.  (I should know.  Mrs. ToughMoneyLove and I own a couple of those holes in the water.)

With our history as big spenders and small savers, American consumers have excavated gigantic money holes for themselves.  The holes were started with a few scrapes using credit cards.  The hole was deepened using a variety of innovative sub-prime lending tools.  Then the housing bubble blew up, throwing huge chunks of financial stability into the air and leaving many consumers with their our own rather large personal money pit. Read more