Consumers, Lenders, and New Year’s Resolutions

I don’t plan on writing much today as I suspect that most computer users are either hung over, watching football, trying to lose weight, or cleaning up all of the holiday mess.

Mr. ToughMoneyLove has been informally surveying New Year’s Resolutions posted by various internet users, particularly in the personal finance world.  Even the federal government has published a list of the most popular New Year’s Resolutions.  Second on the list is “Manage Debt.”  That’s outstanding. Read more

Personal Finance Resolutions to Avoid this Year

Mr. ToughMoneyLove is not a fan of New Year’s Resolutions for two reasons.  First, they are often used as an excuse to put off until tomorrow what could and should be done today.  Second, New Year’s Resolutions perpetuate a fantasy that you are actually doing something when you are not.  It’s like making a to-do list that never becomes an “I did that” list.  If you resolve to pay your bills on time next year, how about paying them on time today? Read more

How to be a Money Strategist to Reach Your Financial Goals (Part 1)

Mr. ToughMoneyLove is a Money Strategist

Setting and reaching financial goals is at the core of personal financial planning and retirement planning.  This two part article explains how being a money strategist provides a structure for me to reach my family’s financial goals.  In this part 1, we define financial goals, money strategies, and money tactics.  I provide examples of these in my financial life.  In tomorrow’s part 2, I will suggest how others can become money strategists themselves. Read more

On Money, Personal Finance and Being Judgmental

I start this post with a confession of sorts.  I can form strong opinions about financial planning, retirement planning, and the use of money by others.  When asked, I am not afraid to express those opinions in very clear and direct terms.   If I see a financial train wreck coming down the money tracks, I blow the whistle good and loud.  That’s just me.  For this, I have been called “judgmental” more times than I can remember.  Not in a nice way, either.

In a debate over use of money or other personal financial resources, have you ever been called “judgmental?”  Have you ever been offended by the judgments of others about your use of money?  If so, please read on. Read more

Tough Money Love Tours the Personal Finance Carnivals

Mr. ToughMoneyLove was excited to learn that two of his posts were selected this week for inclusion in personal finance blog carnivals.  I’ve not been to a carnival in many years, and never using the magic of virtual participation.  What a fuel-saving concept! 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