Psychology of Debt

Debt is a prison and you don’t get out of jail until your creditors are paid off.  Even if you don’t feel like you are in prison debt still narrows your range of choices and options.  You may be just to distracted with the shiny things you bought or by the stress of just making it each month that you might not even be able to visualize what life is like without debt. I will tell you first hand, being out of debt is awesome.  We have so many more options as a family it is so energizing and even […]

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As Long As You Can Make The Payments – You’re Fine

by The Happy Rock on January 8, 2009

“I can pay all my bills each month, I am doing well.” In a world of leased BMWs, credit cards galore, no interest credit offers, and high standards of living, what does it really mean to ‘live within your means’? We all might have our own definition, but I wanted lay out what I think it means and see what others think. The prevailing definition seems to be living on less than you make.  Living within your means is much more than just being able to meet your bills each month.   What type of bills you have matters immensely.    If […]

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Fundamental Problem With Debt Consolidation

by The Happy Rock on November 19, 2008

Putting debt on a 0% credit card or rolling high interest debt into a home equity line of credit may help save you money in the short term, but it is only addressing the symptom.  The symptom is the debt; the debt isn’t the problem. The behaviors and attitudes that got you into debt are usually the problem. Imagine a couple in a pool flailing around unable to swim or even tread water.   You through them a lifeline and they are saved.  The trick is though that they only stay saved if they don’t go into the water again.   Unless […]

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Bankruptcy…an easy way out?

by Debt Destroyer on October 21, 2008

Over the past holiday weekend my family stopped by my wife’s parents house for a quick visit.  We had a dinner and were able to catch up a little.  One of the things that was brought up was that the neighbor girl (who was my wife’s childhood friend) and her husband had just declared bankruptcy. Actually they declared bankruptcy back in February, but the family just found out about it now.  And while it’s not newsworthy that a couple declares bankruptcy, that happens all the time.  What makes this case a bit odd in my book is that it seems that it […]

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Financing College by Selling the Van

by Debt Destroyer on September 24, 2008

First it was Netflix, now it’s the van. I’ve been putting off writing this post for about a month.  It has been about that long since we’ve decided that selling our van would be in our best interest (financially speaking). I first brought this idea up way back in July, but my wife wasn’t on board quite yet. Then we both read Dave Ramsey’s, “The Total Money Makeover” and we realized that we probably made a mistake when we bought our van in the first place. If finances weren’t an issue we’d never sell this van.  We love it!  It’s just that […]

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Free Debt/Credit Documentary – In Debt We Trust

by The Happy Rock on September 21, 2008

No, not through Napster or some other torrent, but through the unique site Snag Films.    The current offer over 300 independent documentaries for absolutely nothing.  They have quite a few quality films on there, so be sure to check it out if documentaries interest you. One of those free films is In Debt We Trust.  Here is the description of the film : In America’s earliest days, there were barn-raising parties in which neighbors helped each other build up their farms. Today, in some churches, there are debt liquidation revivals in which parishioners chip in to free each other from […]

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Interest Free Payments…are they a bad idea?

by Debt Destroyer on August 22, 2008

Just like most of you, I peruse a lot of personal finance blogs. Today I came across one that posed an idea that got me thinking. Not Made of Money posted a nice piece about not buying stuff with a payment mentality. I left a comment saying that I totally agreed that its a great idea to get rid of payments. But what about interest free payments? I used an example of saving enough money for an $800 item then being offered interest free financing at the time of purchase. Would you take the offer or pay in full? In […]

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A New Stage In My Financial Journey

by The Happy Rock on August 21, 2008

Like most things in life financial maturity is a journey not a destination.  If we are open we will keep changing and broadening our perspective.  Recently this has taken the form of questioning my definition of the purpose of money.  I used to think that the definition of money took on two distinct stages, but I am starting to be drawn to a third stage that I am not sure I could have imagined a few years ago. Stage 1 – Money = Stuff This is the stage that we all know and love.  It is the stage were the […]

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Rich Dad, Poor Dad…Owning Your Family History

by Debt Destroyer on August 18, 2008

I bet lots of you have read Robert Kiyosaki’s, “Rich Dad, Poor Dad” where he talks about the different ways his father and a friend’s father taught him about money. When looking back at my own life I see that I too had different perspectives shown to me. My parents split up when I was 4, and went in very different paths upon their separation. My Dad who was a plumber when he was married to my Mom, moved back in with his parents in the Twin Cities so he could go back to school and be close to better […]

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Total Money Makeover – The Snowball Starts

by Debt Destroyer on August 8, 2008

In part of the interview process I went through to get this cushy gig, I remember being asked what I thought of Dave Ramsey. I had to admit that I heard of him, but that I didn’t really know much about him. I remembered him being featured on “60 Minutes” some years ago, but that was it. Luckily for me, that embarrassing answer didn’t instantly disqualify me. And after this past weekend, I can no longer claim ignorance on the Dave Ramsey front. Thanks to THE HAPPY ROCK sending me a copy of Total Money Makeover, I now can say […]

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