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Posted
Aug 12 2008, 02:50 PM
by
Karen Datko
Rating:
Some people blame the system or fate or bad luck for their inability to get ahead in life. Could they be right, or are there steps most people can take to improve their financial situations? In a post called "Victim mentality and personal finance" at Moolanomy, Pinyo wrote about a couple he knows who have spent 20 years in poverty and believe "that was the hand they were dealt." He begs to differ. He said that blaming seemingly uncontrollable circumstances is counterproductive, and that "victim mentality is detrimental for your financial health."
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Posted
Jul 27 2008, 12:43 PM
by
Karen Datko
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The headline on JW's post at We Need To Be Debt Free says it all: "What's the use?" He's been working hard to aggressively pay off about $41,000 in non-mortgage debt, and then his wife revealed at a marriage-counseling session that she's been hiding -- and using -- two credit cards. "When she mentioned it, I felt completely broadsided. It was like being run over by a truck," he wrote. The damage to his debt-reduction plans? Just over $4,300.
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Posted
May 14 2008, 08:19 PM
by
Karen Datko
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Wouldn't we all love to have this dilemma? Inspired by a letter to the editor at Money magazine, "Flexo" at Consumerism Commentary wonders when it's appropriate to tell your boyfriend/girlfriend that you're wealthy. The letter writer apparently had been burned by some guy looking for a sugar momma. Flexo says, "It's probably not appropriate if you're on the first few dates, but if you're starting to pick out rings or talk about living together, I don't see how these decisions can be made without full financial disclosure."
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Posted
Apr 29 2008, 02:34 PM
by
Karen Datko
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We think cash is a great gift, particularly for newly married couples and for babies. But how much is too much or too little? "FrugalTrader" at Million Dollar Journey asked his readers this very question. "This is a tricky question and probably something that not a lot of people talk about," he wrote. Like many good posts, a lot of value can be found in the comments (although some readers were sidetracked by a heated debate over how much to spend on one's own wedding).
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Posted
Apr 15 2008, 11:43 AM
by
Karen Datko
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Just because you've received invitations to eight spring and summer weddings doesn't mean you have to go to all of them. And you aren't obligated to spend as much as those couples did for your wedding. Aryn of Sound Money Matters offers 10 tips for choosing how to honor the bride and groom without overextending your budget. Her advice is very practical and also holds true to the sentiment that these events shouldn't be just about the money. Wear the same outfit to every wedding. Honestly, no one will care. Shop the registry early before the lower-cost gifts disappear. Combine a few simple registry gifts into one gift rather than veering from the list. "Trust me, if they didn't register for the $50 10-glass set, they don't want it," Aryn writes.
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Posted
Apr 09 2008, 05:13 PM
by
Karen Datko
Rating:
When we read about Amy's plans for her wedding at My Daily Dollars, we wanted to be invited. This excellent post explains how you can celebrate in an incredible setting with fabulous food for less than $5,000. First of all, decide what your wedding means to you. "When I imagined my wedding day, what always got me the most excited was the fact that it will be one of the few times in my life that many of the people I love will be in one place at the same time," Amy writes. "Once I had that in mind, other things started to fall into place." Base the theme on the location, not the other way around. It takes a lot of money to transform a boring social hall into a special place. Her wedding and a "scrumptious picnic reception" will be at a lodge in the state park where she and her fiance had one of their first dates. She adds, "I'm planning for a hike down to the river in my wedding dress."
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Posted
Mar 19 2008, 05:10 PM
by
Karen Datko
Rating:
Mrs. Micah clearly touched a nerve when she opened a discussion about how to save money to leave -- and ultimately divorce -- an abusive spouse. She and her readers -- including social workers, and former victims and their children -- provided lots of ideas to consider, as well as personal stories of successfully leaving or being found out. We'll summarize some of their suggestions here, but we recommend you read the entire series. Set up a P.O. box and get a bank account and safe deposit box using that address. Do not check your bank statements on your home computer. Readers left stories about tech-savvy abusers who installed programs to track their spouse's keystrokes. Stash a bag of clothing, cash and copies of important documents at the home of a trusted friend. Be extremely careful about sharing your plans; word can leak out. The daughter of an abused woman offered another perspective: Don't wait until you've saved money.
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