Want to See Money Waste? Attend an NFL Game.

Mr. ToughMoneyLove went to the Titans vs. Colts game last night.  I enjoyed it immensely, as my family members have been fans since the team moved to Tennessee.  Even though I have been to many games, I still come away in wonderment at the money folks spend at the stadium.  Some (including me) would call many of those expenditures pure money waste.  Read more

Welcome MSN Money Readers to Tough Money Love

This week the Smart Spending blog on MSN Money had some nice things to say about my Ten Warning Signs of a Normal Financial Lifepost.  I know that a lot of readers of the Smart Spending blog came my way as a result.  I am glad you did and hope you will come back.   Mr. ToughMoneyLove may be “deliciously snarky” as I was called by Smart Spending but I believe you will find some useful information about personal finance and retirement planning mixed in with the hard truth attitude.

Thanks again for visiting.

Ten Warning Signs of a Normal Financial Life

If you ever listen to Dave Ramsey, you know that he acknowledges that what he teaches is “abnormal” compared to the “normal” financial behavior we see engaged in by a substantial majority of American consumers.  I don’t agree with everything that Ramsey preaches but his statements about normal financial behavior ring true to me.

So, I have compiled my own list of ten signs or indicators that someone is engaged in bad financial and money behaviors that are now, unfortunately, considered normal.  These are not in any particular order of significance.  You may have others to suggest.
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Free Online Help in Buying Used Cars

The spending/saving tip of this post is really part of my belief that buying a new car is generally a bad financial decision.  I have spoken in the past about people using lame excuses for buying new cars.   So, if I can do a little something to help used car buyers, all the better. Read more

Making Changes in that Which We Still Control: Spending

One of my favorite financial writers – Scott Burns – spoke in his column this week about the power of “attentive spending.”  He pointed out the factors that most of us cannot control in our financial lives because of the precarious and volatile state of today’s economy.  These include stock market losses, low interest rates on savings accounts and CD’s, falling home values, rising oil prices, inflation, and uncertain job security.  This leaves a lot of folks feeling helpless and hopeless. Mr. ToughMoneyLove is sympathetic. Read more

Saving Money by Slowing the Work Lunch Cash Drain

This post is about money that is lost (and that can be saved) just by being more disciplined in deciding what and how you are going to eat lunch in the workplace. Read more

More Love than Tough Love for Pork Senator Ted Stevens?

Sen. Ted Stevens of Alaska was indicted this week on multiple corruption charges involving failure to disclose benefits he received from government contractors.  Stevens is known as a pork barrel money specialist, bringing into his state $1.84 in federal spending for each $1.00 in taxes paid by Alaskans.  This works out to $4,783 in earmark appropriations per Alaskan – 18 times the national average.  That’s our money being wasted, folks.  The reaction of many Alaskans to the indictment is: “Who cares what he has been charged with – he has brought us a lot of money – and we want to keep it coming.”  This response falls under the old adage - ”he may be a crook but at least he’s our crook.”   Read more

Tough Love Techniques to Stop Using Credit Cards

Lots of Americans are burdened by substantial credit card debt and poor cash flow.  This combination causes these debtors to make only minimum payments on the card balances.   On top of this, the cardholders struggle with the willpower needed to stop using the cards.  Most understand that they should stop using their credit cards but find it difficult moving from knowledge to action.   Accordingly, other techniques must be used to prevent the continued escalation of the card balances because simple force of will is not going to work.   In other words, the cardholder must apply a “tough love” technique to himself or herself to break the card use cycle.  What are some of these self-administerd tough love techniques? Read more

Small Expenditures That Can Bust Your Budget

It is amazing to me how people who are strapped for cash or just plain broke continue to purchase products and services that can cumulatively play a significant role in busting their budget.  Somehow, people have mentally morphed  these items from the “things I want” category to the “necessary” category.  Here are some budget buster examples that really bother me when I see them in a broke person’s financial breakdown: 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

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