We are bombarded each day by insurance. We have life insurance, health insurance, and disability insurance for ourselves. And then we have fire insurance, liability insurance and general property insurance for our homes (often rolled into one policy), and car insurance for our vehicles. When you figure the amount you pay each month just for…
Who fears getting out of debt? Jay contends that being debt-free provokes fear. I think Jay is off point: terror takes hold when you confront the utter necessity of doing something big and frightening to ditch the debts. How big are the changes you have to make to get debt-free? Do you have the courage…
Rounding up our posts this week at Money Health Central, getting out of debt and life after debt in uncertain financial times continues to dominate our writing. The pleasure of getting out of debt will be so much better than the pain of being there, Kurt says. Using your retirement account to pay bills may…
Does it matter if the sky is falling? It’s pretty hard to shrug off a one day loss of 5% in your stock portfolio, regardless of whether that’s your retirement or your mad money. But let me posit that the stock market is relentlessly cyclical and unless you need your money today, the value of…
Using your retirement account to pay bills may just be turning a current economic problem into a long term bigger disaster. Difficult times come and go; and sometimes they seem insurmountable. When that happens, it might appear wise to tap into the 401k or the IRA and borrow or take some of the funds. …
Thanks to the Carnival of Wealth for including my post The Four Money Myths That Keep You in Debt in this week’s carnival. It’s clearly fine company.
Rounding up our posts this week at Money Health Central, Cathy asks “Why is it that those drowning in debt don’t reach for a life preserver? What prevents them from making changes that will get them out of deep water? Chances are they’ve bought in to one or more of the money myths that keep…