If It Feels Good Do It: Maybe Strategic Defaults Aren't So Bad After All

I bought my first home in 1990 at the top of the Southern California real estate market and promptly found myself with an “underwater” mortgage. And although I owed more than the home was worth over the next seven long years, I never walked away from that loan — even though I wanted to — because I felt I had a moral obligation to myself and society as

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The High Cost of Being Poor (and How to Vanquish It)

by Gayle B. Tate

We have all seen difficult times, so that’s nothing new.

My wife and I started our business at exactly the wrong time. Although we established it in 1967, we opened our first brick and mortar operation in 1972. Within a year, the “big recession” of ’73 began.

Some of you might remember when you had to wait in line for hours to get gas for your car? Well, while

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Evaluating the Pros & Cons of 4 Common Car Loan Alternatives

In an ideal world we all want to be debt-free; and borrowing money is something that we all should approach with caution. However, when it comes to living a real life, very few of us will be able to escape borrowing money to finance a larger purchase. A car can be one of those big purchases and, unless you’re happy to ride a bicycle or save up money in your

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Drop the Guilt: How To Splurge Without Breaking the Bank

Is it just me, or do I come off at times as a real financial stick in the mud? Uh huh. That’s what I thought.

Look back at my archives and you’ll notice I’ve written plenty of articles about the importance of saving money and spending less than you earn. But when it comes to posts on spending money and having a good time, well, you have to look a little

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There Is a God: How Eating Donuts Can Help You Stay on Budget

Barbara Friedberg, MBA, MS is editor-in-chief of Barbara Friedberg Personal Finance.com where she writes to educate, inspire, and motivate for wealth in money and life. Learn about personal finance from a real life portfolio manager! Stop by the website and download the valuable free eBook 20 Minute Guide to Investing.

by Barbara Friedberg

Occasionally, my hubby picks up a donut for a breakfast treat. I usually refrain from this particular indulgence; too

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The 15 vs. 30-Year Mortgage Loan Debate: Why 30 Is Better

According to Freddie Mac’s most recent survey, there is currently a spread of 0.79 percent between the 15- and 30-year fixed rate mortgage benchmarks, which just so happens to be the largest spread since Freddie started tracking the 15-year mortgage 20 years ago; for comparison purposes, the average spread over that same time period has been only 0.47 percent.

I think most people naturally assume that, when it comes

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Beware: A Credit Card for Excellent Credit That Doesn’t Fit the Bill

You might think that credit cards for people with excellent credit are universally the best products available, and that the quality of a credit card naturally rises in accordance with the credit level required to get it. You might believe that high fees and lacking rewards simply come with the territory of having bad credit, and that this is a natural trade off.  You might also assume that

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100 Words On: Why You Should Never Ever Fear Credit Cards

Credit cards provide a safe and convenient avenue for short-term borrowing.  When used wisely and responsibly, credit cards provide valuable benefits that cash simply can’t including consumer protections, cash dividends and other rewards.  They can also help establish and improve one’s credit rating, which is especially valuable when shopping for long-term credit to buy a home or car.

The bottom line: Yes, credit cards can get careless people into a lot

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How Choosing Credit Over Debit Hurts Small Businesses (and You)

by Mike Glanz

Hello all! I am a big time fan of Len Penzo and it’s a privilege to share some of my thoughts on his blog.  A few weeks ago, I read Len’s article on why choosing debit or credit is like picking salad dressing; in that post he mentioned that he always chooses credit over debit when using his bank card unless he needs some cash back.

Today, I’d like

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10 Old Wives’ Tales Masquerading As Financial Rules of Thumb

It’s been said that if the palm of your right hand itches, you’ll soon be coming into money.  On the other hand (seriously, no pun intended), it’s also been said that if your left palm itches you’ll soon be paying out money.

Don’t laugh.  There are folks out there who actually believe this stuff.

What is funny though is if you do an internet search, you’ll find there is no consensus at

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Chocolate, vanilla or strawberry?

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