In accordance with the American Bankers’ Association, the average American household has $8000 in credit card debt. With credit cards, there’s always the possibility of spending more money than you have. Even if you make your payments on time, if you are merely paying the minimum amount, it may take a decade or more to… Continue reading If you must use a credit card…some tips for doing so wisely!
Category: Money Behaviors
Why Do We Enable People to Spend Money While Shopping?
“Former Shopaholic” Erica reflects on her habit of encouraging friends and family to spend money when they’re shopping together. She says, “We end up justifying purchases together…” Trying to analyze why she and her friends do this, she wonders if she’s living vicariously through her friend’s purchases. Or, is she secretly wanting to sabotage them… Continue reading Why Do We Enable People to Spend Money While Shopping?
Overdressed: The Shockingly High Cost of Cheap Fashion
By Lexi McGlade In an eye-opening novel entitled, Overdressed: The Shockingly High Cost of Cheap Fashion by Elizabeth L. Cline, the consequences of “fast fashion” are considered. Fast fashion is a term used to acknowledge the rapidity with which trends move from the runway into stores in accordance with the latest style. Cline interweaves personal… Continue reading Overdressed: The Shockingly High Cost of Cheap Fashion
The Truth About Bargain Shopping
“Remember: it’s only a bargain if you needed it in the first place, otherwise it’s a waste.” Live Simply by Annie’s author reminds shoppers of the pitfalls of sales, which include the marketing professionals who know exactly what it takes to make us whip out our credit cards. She discusses the chemical changes that occur… Continue reading The Truth About Bargain Shopping
5 Things Your Credit Card Issuer WANTS You To Do
You may be surprised to find out that your bad credit habits are exactly what your credit issuers want. Carrying a balance may be convenient for you, but the interest you pay is where credit card companies make their money and you start sinking into debt. Paying the minimum amount due means you’re paying mostly… Continue reading 5 Things Your Credit Card Issuer WANTS You To Do
Self-Worth to Net Worth: 12 Keys to Creating Wealth Inside and Out
This wise and comprehensive book begs to be read—and digested—very slowly. In it, Cia Ricco and Belinda Rosenblum have managed to make important and highly sophisticated psychological concepts very, very accessible. From the get-go, they emphasize the importance of personal responsibility, going so far as to ask the reader to sign an agreement to further… Continue reading Self-Worth to Net Worth: 12 Keys to Creating Wealth Inside and Out
Say Yes to the Dress? Only If It’s For the Right Reasons
Saving money isn’t the only reason to walk away from a purchase. The Cashgab blogger asks, “What are you avoiding when you use spending money or shopping as a means to elevate your mood?” Some suggestions: a relationship in your life that needs repair, a new goal, a realistic assessment of a partnership or marriage,… Continue reading Say Yes to the Dress? Only If It’s For the Right Reasons
“If Money Doesn’t Make You Happy, Then You Probably Aren’t Spending it Right”: Part 2
In the earlier posting on this article, we looked at Dunn, Gilbert, and Wilson’s persuasive assertion that “examining the basic scientific facts about happiness” would enable people to significantly increase the happiness their money could bring them. We also looked at the authors’ first three (of eight) principles for doing so: buy experiences rather than… Continue reading “If Money Doesn’t Make You Happy, Then You Probably Aren’t Spending it Right”: Part 2
Throw a Thrifty Summer Bash by Planning a Tailgate Party
Myscha Theriault says any occasion is just right for a tailgate party and provides some cost-saving ideas to pull it off. Location is key in terms of power supply, number of people, and event activities. She suggests keeping the menu low-key, whether or not you have electricity and water. Accommodating a variety of diets is… Continue reading Throw a Thrifty Summer Bash by Planning a Tailgate Party
“If Money Doesn’t Make You Happy, Then You Probably Aren’t Spending It Right”: Part 1
In a provocative titled, research-grounded, and thoroughly persuasive article in the Journal of Consumer Psychology—21 (2011) 115-125—Elizabeth W. Dunn, Daniel T. Gilbert, and Timothy D. Wilson argue that “If money doesn’t make you happy, then you probably aren’t spending it right.” In the article, they acknowledge that traditional research shows only a modest correlation between… Continue reading “If Money Doesn’t Make You Happy, Then You Probably Aren’t Spending It Right”: Part 1