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  • The sucker factor: The cost of being unable to say no

    Posted Jun 27 2008, 05:57 AM by Karen Datko
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    This post comes from Trent Hamm at partner blog The Simple Dollar.

    Alan wrote in with an interesting situation:

    My problem is that I can't say no to people. I am a sucker for Girl Scouts selling cookies. I am a sucker for salesmen at stores. I am a sucker for my church when they need money for something. I am a sucker for friends and family who need to borrow money. I am a sucker for the Green Party or Green Peace when they call and ask for money all the time. I have heard it called "the disease to please" before, and I just wanted you to know how much it affects me not only with a lot of stress and anxiety, but also financially. I don't think I am alone either. ... I am trying to empower myself by saying no to at least one person a day. It is not easy though. I always fear hurting people's feelings or making them angry. Your article today about the left and right brain was fascinating. It got me thinking about other parts of a person's psychological makeup that could potentially affect their spending habits. For me, if I could grow a backbone and say no to people, I would probably save $100 or $200 a month. Sometimes more.   Read More...

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  • Superman syndrome: You don't need to be a financial hero

    Posted May 16 2008, 05:32 AM by Karen Datko
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    This post comes from Trent Hamm at partner blog The Simple Dollar.

    When I was fresh out of college with my first high-paying job, I would insist on paying for everything -- meals out with friends, lattes at the coffee shop, even sometimes shopping purchases. I felt this deep need to step in, bust out my plastic and say, "I'll take care of it."

    The burning desire to always save the day led me down a path to a lot of debt.   Read More...

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  • Investing isn't just about money

    Posted Mar 21 2008, 06:06 AM by Karen Datko
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    This post comes from Trent Hamm at partner blog The Simple Dollar.

    When I first sat down to write the "Investing in yourself" series, I was thinking mostly about financial investments -- how you can invest money in yourself in order to increase your earning potential. What the series actually pointed out to me is that investments take on a lot of forms, and you can often transform one type of investment into another.

    For example, take The Simple Dollar. For me, it's a money investment (hosting fees), a time investment, an intellectual investment and a bit of an emotional investment, too. What do I get out of it? I reap some financial rewards, increased knowledge and understanding (as a result of the research), improved writing skills, a network of acquaintances, and the wonderful feeling one gets from helping someone.

    Is it enough reward for the time investment? I believe it is, but it's probably not an exchange everyone would see value in.

    There are lots of ways to invest in something.   Read More...

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  • The costs of having children

    Posted Mar 14 2008, 06:20 AM by Karen Datko
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    This post is from Trent Hamm at partner blog The Simple Dollar.

    Recently, I had coffee with an old friend who was torn over the decision to have a child. His spouse wants a child, as do his parents, but he doesn't feel ready to take that leap.

    I told him I thought he should stick to his guns on the subject, and he looked at me with a mix of shock and relief. He was sure I was going to try to talk him into having a child, given the value I've found in being a parent.

    But I made it very clear to him that there are a lot of deep costs to being a parent, and you need to be fully sure of your choice before stepping up to the plate.   Read More...

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