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• Why I turn down free money

  Posted Jul 31 2008, 06:19 AM by Karen Datko
  Filed under: Debt, Banking, Credit, Wise Bread
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  This post comes from Philip Brewer at partner blog Wise Bread.

  There are certain ways to get free money or free stuff simply by paying attention, keeping track, and being careful. I don't do these things. It's not because they don't work; it's not even because the risk-adjusted earnings don't pay for the time spent.

  It's because time -- and especially time spent paying attention -- is very precious. 

  The clearest example of the sort of thing I'm talking about is getting a cash advance from a new credit card with a 0% teaser rate. Slap that money in your high-interest savings account, pay off the loan when it's due, and you can pocket the interest. Borrow $100,000, and you could pick up close to $2,000 of free money in six months.   Read More...

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• What's the best way to get out of debt?

  Posted Jun 26 2008, 05:42 AM by Karen Datko
  Filed under: Debt, Banking, Credit, Wise Bread
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  This post comes from Linsey Knerl at partner blog Wise Bread.

  Debt is the hottest topic on personal-finance blogs around the world. Why? I would venture to guess it's because so many people are drowning in it.

  The unfortunate truth is that few people care to read about debt until it has already had a negative effect on their financial situation. This can make the final solution to their debt problems even more difficult to hear about.   Read More...

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• Saying no when people want to borrow money

  Posted May 08 2008, 05:21 PM by Karen Datko
  Filed under: Debt, Spending, Family, Wise Bread
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  This post comes from Xin Lu at partner blog Wise Bread.

  I think most of us have been asked to lend money to someone we know. No matter how close you are with the potential borrower, there are certain situations when you just have to say no.

  Here are some of the times I think you should absolutely keep your money for the sake of your relationship with the other person and the well-being of both parties.   Read More...

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• Living within your means isn't nasty

  Posted Jan 30 2008, 06:24 AM by Karen Datko
  Filed under: Debt, Spending, Saving, Wise Bread
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  This post comes from Philip Brewer at partner blog Wise Bread.

  How bad could things get? The New York Times asked that question about the economic situation. It's a good question, but they gave a really bad answer.

  Here's what The New York Times had to say:

  "How bad could things get? Pretty bad, say many economists. Not so bad that your grandfather's prescriptions for enduring the Great Depression need dusting off, but nasty enough to force many Americans to get reacquainted with living within their means. That could make life uncomfortable."

  OK, the title of this post is unfair. Peter S. Goodman (the author of the piece) didn't say that living within your means is nasty; he said that about the economy. He said living within your means is "uncomfortable," but that's still completely wrong.

  Living within your means is the only comfortable way to live.   Read More...

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