Michael Mihalik’s Debt is Slavery is a short book that has a ton of great insights packed into its 123 pages. The third post in this series deals with the effect our possessions has on our finances and our lives. His main point is that each piece of “stuff” you bring into your life costs … Read more
Michael Mihalik’s Debt is Slavery is a short book that has a ton of great insights packed into its 123 pages. The second post in this series deals with the importance of money in our lives. This is one of several observations that Mihalik makes in his book that makes so much sense, but goes … Read more
I received a complimentary copy of Michael Mihalik’s Debt is Slavery to review. It’s a short book — 123 pages soaking wet — but it was written that way on purpose according to the author. Until I read it, it had the look and feel of a dollar-store coloring book. Boy, was I fooled. Mihalik … Read more
The furniture stores in our area are one-upping each other on easy financing terms. One offered “no interest until 2009.” Another offered “no interest until 2011.” Still another offered “no interest until 2011 and no payments until 2008.” It’s crazy! Nearly a full year without any payments, and nearly four years to pay off the … Read more
An anonymous commenter on my 130-year mortgage post said this: “I don’t understand your aversion to debt…” I suppose I am averse to debt, or at least certain kinds of debt. Now, if the debt is used to control an asset that will bring in more per month than the payment on the loan, then … Read more
I saw it on Punny Money, so it must be true! (He tried to sell me a bridge, too, but I already have one.) A 130-year fixed-rate mortgage. More than twice as long as the 50-year loans that have come out recently. No one has lived that long, yet, but people are already wagering on … Read more
A poster in the Saving Advice Money and Budgeting Forums came across a $92k windfall from a settlement. The poster asked the forum for advice on what to do with it. The debts that the couple had were vehicles: $42k. More than enough to pay off the cars. One (his) would definitely get paid off, … Read more
I saw that Tricia over at Blogging Away Debt is in celebration because she just cracked $30k. By a dollar. She currently owes $29,999 on her credit cards, and has shaved about 20% off her debt since the beginning of March. That isn’t easy. It takes discipline, a lot of encouragement, and a lot of … Read more