It’s not uncommon for people to spend as a type of reward. The thinking often sounds something like this. “I work hard, I’m entitled to a little reward. I earned it!”. I confess that I felt this way for a long time myself. And for me it was a wicked cycle with a net-negative outcome. Improving [...]
Read more →Not all spending is equal. I break spending into two camps: structural spending and discretionary spending. Structural Spending Structural spending includes basic care and feeding. Rent or mortgage Utilities (heat, hot water, electricity and gas) Food Medicine for chronic illness Education for children Clothing Transportation These are essential ingredients to daily life. They are necessary, but not [...]
Read more →I just wanted to let you know that I haven’t forgotten you. Instead of putting together my usual weekly review post, I spent the time working on some longer, richer posts which I plan to publish this coming week. Stay tuned!
Read more →If you’re successful in digging yourself out of debt, the day will come when you aren’t broke anymore. The mountain of struggle and sacrifice that was ahead of you for so long is now behind you. This is a defining moment. Will You Go Back? Recidivism is a common phenomenon among convicted criminals. Recidivism is [...]
Read more →#7. BeatingBroke brought up the idea of a self-imposed layaway plan. The idea is simple. Think ahead to all the expenses you know you’re going to incur in the next 6 months or a year. Then set aside a portion of the total cost from each paycheck until you have enough. This technique has worked [...]
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