Category: Money

Getting Out Of Debt

A parents’ guide for getting out of debt.

1. Your net not your gross.

Even though your annual salary is $100,000, you are actually making about $70,000 after taxes. You should plan to live on $70,000 annually not $100,000.

2. Needs not Wants.

Do you really need the latest LCD TV, hip iPod, or designer jeans? Most likely the answer is NO. To get out of debt you will have to fulfill your needs not you wants. Yes, we need grocery, clothes, and means of transportation. But do we need to drive a 2008 Hummer, dress in a Gucci suite and spending $50 on lunch. If you want of get out of debt, I don’t think so. read more

How to Save on Back To School Shopping

According to the New York Times,

“The United States Census Bureau has computed dozens of statistics like these about the school year. This month alone, it found, Americans will spend an estimated $7.1 billion on shopping at family clothing stores and $2.1 billion at bookstores, much of it presumably for back-to-school purchases. It is a volume that is exceeded only around the winter holidays.”

As a Nation Heads Back to School, a Look at the Numbers-[NYT]

I have a simple question. Do our kids really need all those things we buy them for back to school? Deep down a voice inside us is yell not really. Today, we will discuss ways we can saving money on back to school shopping. read more

Twenty, perhaps 25 years

A friend of mine sent me the short story below that I felt that I had to share with you.

A boat docked in a tiny village. A tourist complimented a fisherman on the quality of his fish and asked how long it took him to catch them.

“Not very long,” answered the fisherman.

“But then, why didn’t you stay out longer and catch more?” asked the
tourist.

The fisherman explained that his small catch was sufficient to meet his
needs and those of his family.

The tourist asked, “But what do you do with the rest of your time?” read more