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Debit Cards and Motorcycles Just Aren't Safe
For decades, I've pleaded with you to not use debit cards because they are not safe. And for years, I warned my sons about the dangers of riding motorcycles because they are not safe.
Has anyone listened and taken heed? Debit cards are more popular …Read more.
Overspent and Overloaded? You Need Margin
Bill Smith sits down to his most dreaded chore — paying bills. Every month, it's the same story: Pay the most urgent, and leave the rest. There's never enough money, no matter how hard he works.
Jane Miller flies into the school office …Read more.
Bounce Back From Bankruptcy
Dear Mary: Please give me some pointers on bouncing back from bankruptcy. Will this have any effect on future employment opportunities? — Henry, email
Dear Henry: Live on cash. Have only one credit card, and if you use it, pay it in full every …Read more.
With Knowledge Comes Savings
Many things that we buy are simply not negotiable. The salesperson at Macy's won't negotiate with you over the price of that newly arrived collection. The supermarket checker won't haggle with you over the price of eggs. But a ring at your local …Read more.
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Life's Money Rules -- Rule 5: Tell Your Money Where to GoIf the word budget is like nails on a chalkboard, you've got a friend in me. I know the feeling. For many years, I wouldn't have anything to do with a budget because I couldn't stand the idea of someone telling me how to spend my money. To me, a budget was a whip disguised as a formula, with every intent of beating me into submission. Instead, what I learned from coming back from the edge of financial doom and finding my way to solvency is that a budget is the ticket to financial happiness. I still don't like the word, so I've replaced it with Rule 5: Tell Your Money Where to Go, from my book "7 Money Rules for Life: How to Take Control of Your Financial Future." Like a roadmap or blueprints for your dream house, a Spending Plan shows where you are and how to get where you want to be. In its simplest form, a Spending Plan is a sheet of paper on which you write your income for the coming month and what you will do with every dollar of it. You "prespend" your paycheck on paper before you part with any of it. A good Spending Plan addresses every bit of income by giving every dollar a specific job to do. Some will be directed to pay the rent or mortgage, others will be directed to food and utilities. A portion of your monthly income will fulfill Rule 2 — long-term savings — and some will go to work hard on Rule 3 — giving. Some of those dollars will bring balance to your life, as they are assigned to entertainment and fun, others you'll direct to places like retirement accounts and investments.
The purpose of a Spending Plan is not to force you into a life of deprivation but rather to prevent overspending, which will keep you from falling into debt. It rarely matters what you're overspending on — dining out, entertainment, clothes. In the end, it's all debt. There is something startling about seeing your exact income and expenses for a full month laid out on paper. If you have not done something like this before, let me warn you: Rarely does a person's planned spending match actual spending. In fact, in the first few months, you may find your income and your recorded outgo to be from different planets! Do not despair. The more patience and diligence you expend, the clearer your financial picture becomes and the greater your reward. Once you have it the way you want it, your Spending Plan becomes the roadmap that keeps your finances on track. If you missed reading about the first four rules, Spend Less Than You Earn, Save for the Future, Give Some Away and Anticipate Irregular Expenses — visit my blog at www.EverydayCheapskate.com and click on "Mary's Perspective." We're talking about each of the seven rules over the next couple of months. Mary Hunt is the founder of www.DebtProofLiving.com and author of 23 books, including her 2012 release, "7 Money Rules for Life." You can email her at mary@everydaycheapskate.com, or write to Everyday Cheapskate, P.O. Box 2099, Cypress, CA 90630. To find out more about Mary Hunt and read her past columns, please visit the Creators webpage at www.creators.com. COPYRIGHT 2013 CREATORS.COM 
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