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• What's your public declaration?

  Posted Nov 16 2007, 12:26 PM by Karen Datko
  Filed under: Housing, Spending, Family, Saving
  A new meme has spread through the personal-finance world, asking bloggers to complete this sentence: " I commit publicly to .... " You fill in the blank with a private goal you're now willing to declare to the world, creating more than a bit of pressure to make good on the commitment. Blogger AskDong said he understands the importance of public declarations : "I remember back in middle school I would tell my friends who I planned on asking to dance, so I couldn't just chicken out and not ask that person." Some bloggers pledged to spend less or save more, but several had other goals. SF Money Musings shared a secret that only her sister had known: She has struggled most of her life with binge eating and publicly promised to stop it . Million Dollar Journey committed to becoming more handy around the house . Canadian Dream: Free at 45 plans to develop a good filing system and "discuss all of this with my wife so the entire project doesn't fail." Quest for Four Pillars promised to lose weight   Read More...
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• 5 tips for making do with the right now

  Posted Nov 15 2007, 07:16 AM by Karen Datko
  Filed under: Housing, Family, Saving, Wise Bread
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  This post comes from Linsey Knerl at partner blog Wise Bread . My family has lived in the same house for two years, but we neither rent it nor own it. It is part of a family farming corporation with an uncertain future. We don’t know if we will be here another 10 years, or if we will need to move next spring. It seems silly to invest too much in it without it being a permanent home, but, at the same time, we really want to make it our own. It seems easy to hold your breath and wait for situations in life to become clear, determined and permanent. But what will you be missing in the meantime? Here are five steps that can help you live life while waiting to see just where it may go. Know that you are not alone. How many other honorable professions and lifestyles are temporary, nomadic , or without careful material plans? Plenty. Just ask any missionary family, military spouse, or theater troupe how it feels never to know what the next move may hold for them. Time spent at a single location   Read More...
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• Take a new mortgage for a test drive

  Posted Oct 29 2007, 01:44 PM by Karen Datko
  Filed under: Debt, Housing, Family, Saving
  Can you really afford a bigger mortgage? There's a good way to find out. Melissa's very thoughtful post at A Penny Closer describes how to live with the cost of a higher mortgage for six months before actually taking the plunge . She had $600 a month automatically deposited in a high-interest savings account. That amount represents the difference between her current house payment (mortgage, taxes and insurance) and the monthly payment on a new home. "At first, not having that money in the budget was difficult, but we have worked through the aches and pains and are comfortable now," she wrote. The family also finessed its budget to accommodate other expenses it anticipated with a new home -- more spending for things like electricity, water and furniture -- without putting less into debt payment and savings. Now Melissa knows her family can afford a new house , and has a bunch of savings in the bank to make the transition easier.
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