I've been working hard on trimming expenses, and while we still don't have our spending quite in line with our earnings yet, we're definitely seeing significant improvement from just a few months ago. But while I have been diligently tracking our spending, I realized that I was developing a flaw in my way of thinking about our budget. Whenever we would start to reach the end of the month, I would tell myself that an expenditure was "Okay" because it was almost a new month.  Or if I wanted to … [Read more...]

I've read a lot of personal finance books over the years.  Some of what I have read has been excellent.  Some of what I have read is just so-so.  Through my reading and taking to others, I have noticed that there are really only a few different approaches to paying off debt. The Debt Snowball This method, made popular by financial guru Dave Ramsey suggests that you pay off your smallest debt first.  Then tackle the next largest debt and so on until all your debts are paid off.  The idea is … [Read more...]

New credit card fees could have an impact on your bottom line. A recent court settlement reached between credit card companies and merchants in 40 states will now allow merchants to put a surcharge on purchases made with a credit card. The surcharge is supposed to cover the merchant's cost to process your card. That means you could end up paying anywhere from 1 % to 4% more for anything you pay for with plastic. According to ABC News, not all merchants will be passing the credit card … [Read more...]

There's only one money rule you need to follow: Spend less than you earn. It's such a simple rule, and yet, so difficult to follow.  I've struggled with this in the past, and I'm struggling with it right now. It's easy to get caught up in the wrong attitudes toward money - those attitudes like "I deserve it" and "it's not that expensive" - that can derail the best laid plans. I've tricked myself into thinking that because I have the money in savings that I can afford things.   But … [Read more...]