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In the US, we have a somewhat stange definition of what it means to be rich and poor.  Even many of those considered to be “poor” in America are rich, compared with the lifestyle and conditions of other countries.  And, in order to be defined as “rich” in America, it seems that the amount of money that you need to have should actually more realistically be classified as obscene.  In America, rich is not defined as having a home, one or two cars, food on the table, at least one telephone, at least one television set, etc. etc.  Rich is defined as having a mansion in Beverly Hills, plasma tv’s in every room, a Rolls Royce or some other car that costs more than a house should, etc. etc.  Read the rest of this entry »

In this post, there was a discussion of why it is so much harder to thrive in America today than it used to be.  A lot of the causes are legitimate, and it really and truly is more difficult to survive and thrive than it used to be, because of a number of different factors.  However, the fact does remain that we also require a lot more “luxuries” today then we ever did in the past, and we also have lost site of some of the basic principles of frugal living that used to exist.  While this tough economic situation has many people rediscovering frugality and reconsidering the spending that we used to take for granted, I sometimes whether the generation raised on easy conveniences will ever really understand frugality the way a generation of people raised during the Great Depression did.  Perhaps this tough economic climate will help bring those fundamental ideas back, but for now, it still seems up in the air as to whether the easy credit generation will return to our less-than-frugal ways once this economy turns around. Read the rest of this entry »

I mentioned in a previous post that my ex boyfriend is having some money management difficulties now that we have broken up. One thing he seems to be doing again, as he did years ago, is taking cash advances on his credit cards to cover expenses like rent and other credit card bills.  This is one of the worst possible things that you can do- the interest rates are extremely high and typically credit card companies apply payments to lower interest rate items first (although I believe this is changing with the new consumer protection laws), so it is especially problematic if you take cash advances on a credit card where you already owe a balance. Read the rest of this entry »

I had written on this blog in the past about how I was getting out of debt, and I also mentioned that the person who was my significant other at the time had a great deal of debt as well.  Now that he is no longer my significant other, I am still doing fairly well at getting out of debt.  I spend almost nothing, and I have increased my income a fair amount over the past two months in order to make larger debt payments.  My ex, on the other hand, is not doing well.  He had been very responsible when were together, but I saw him the other day and he was talking about buying expensive electronics, and even worse- he has started spending money on cigarettes and other mind-altering habits that provide little in the way of benefit and a lot in the way of cost.  He is in even more debt than I am, and he was doing so well at getting it paid off when we were together, that I honestly just don’t know what he is thinking.  The only possibilities that really come to mind are that he is either unable to stay motivated on his own, he doesn’t know how, or he is in complete denial of his situation (which is not a great one)… Read the rest of this entry »

This past few months, I have really been trying to develop my freelance writing career.  I have almost achieved the point now where I am making decent enough money to be satisfied- but I am definitely working a lot.  If I took a different sort of job- out of the house, doing something I find tedious and boring- I could make in 7 or 8 hours what I make in 10 or even 12 hours.  But, to me, I’d rather work a little longer than have to go to work at a job I don’t love and sit there all day doing tedious nonsense.   I don’t even mind working this extra hours, because my schedule is my own and I can be flexible about when I work them.  The tradeoff is an easy one to make.  I imagine it would be a little more of a question for those with youngs kids or other families that they don’t want to spend additional time away from- would the tradeoff still be worth it then, to spend twice as long working at something you love for the same money?

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It is a really gret deal- I earned a bonus when I signed up and invested it and I’ve already made $6 in interest for doing nothing!

Lately, I’ve been talking to someone long distance a lot.  Fortunately, right now, he is calling me- so I don’t have to worry about phone cards and long distance minutes and the like.  However, it did get me thinking… it seems like it can be expensive to find a significant other.  If you are living in the same city, of course there is the matter of dates and dinners out and valentines gifts and other such things that people tend to splurge on when courting.  If you are doing a long distance relationship, then it becomes even more expensive in many cases, considering the cost of plane tickets and phone calls and such.  Of course, it is all worth if it you find the person of your dreams and get married and live happily ever after (right?)  But what if you don’t? Is the money spent just another lost investment?  Certainly not one you can deduct from your income tax to offset capital gains, thats for sure.  So, that brings up the next question- how sure of a person should you be before you start investing huge sums of cash in the relationship (like, say for plane tickets)?

My dad just opened the pool today.  I’m excited, because we (my puppies and I) really like swimming… but at the same time, swimming pools are expensive.  Before you put one in, you need to think not just of the fun you will have with hours of beachside volleyball, but also about the cost of opening (anywhere from $250-$400) and maintenance (if you don’t know how to clean it & test the water yourself, its about $150 a week here to have someone do it for you) and chemicals (cost varies depending on the type of pool you have).  Fortunately, its not my pool so I just get to enjoy it without all that extra worry

I hope everyone is having a nice holiday.  As we remember those brave soldiers who gave their lives for the country, it is a good day to ask ourselves if we are making all the appropriate sacrifices for the greater good.  Are we foregoing temporary pleasures for our long term financial success?  Are we placing a higher premium on the needs of our family and loved ones than on our quest to increase our net worth?  Are we giving to those less fortunate than ourselves, even if we too are struggling?  If not, why not?

For me, memorial day always signals the true start of summer- warm days, and sunshine are coming

One of my friends recently got engaged, and is starting to plan her wedding.  Of course, I know weddings can be as costly as you make them- but that is only true for the bride and groom.  If you are asked to be in a weddng, you have 2 choices- 1) say no and look like a royal b*tch, possibly ruining your friendship forever or 2) suck it up, say yes, and start paying.  Among the costs for bridesmaids depending on the wedding: travel costs to and from the wedding, hotels, bridal showers and bachellorette parties, (one or both of which may involve more travel) a wedding gift, bridesmaid dresses, and shoes.  Of course, a good friend will likely understand if you explain that you have a budget- but even a best friend is usually not going to compromise her “vision” for her dream wedding based on your tight pocketbook.  Its a tough spot to be in, because of course you want to celebrate and be a part of your friends joy- but bills totalling in the hundreds of dollars can be a difficult thing to stomach, especially in this economy.