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Debt Reduction for 20-Somethings
Tweet Share on Facebook August 19, 2008 Comment (3)Today's guest post comes from Debbie Dragon of creditorweb.com:
Leaving high school or college and entering the "real world" is sometimes a lesson in reality for young adults. Up until that point, it's possible that you really haven't had to concern yourself much with your financial responsibilities. Once you head out on your own, though, you may suddenly find that using credit cards and getting loans may not have been your best options.
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The High Price of Breakups
Tweet Share on Facebook August 19, 2008 Comment (2)Check out this thought-provoking article over at Tango about the financial side of breakups. The author points out that sometimes, you need to have a stash of cash in order to make the right relationship choice. No one wants to have to continue living with someone post-breakup, as she was forced to do. Here's an excerpt:
As far as financially sound strategies for urban living goes, it doesn't get much smarter than falling in love. Make the commitment, move in together, save hundreds of dollars in rent (and therapy, if you're living in New York). All of this only works, of course, if you stay together. Some 11 million Americans who live with a partner outside of marriage are keen to this option and the advantages that come with it. But what happens when the love withers? True love may be priceless, but breakups have their cost as well.
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How Much Do Bloggers Make?
Tweet Share on Facebook August 18, 2008 Comment (57)For an upcoming story on how to make money with a blog, I spoke with several bloggers who were willing to share their own financial successes (and struggles). The bottom line seems to be that while making a side income with a blog is possible, it takes a lot of effort—so much that many people will decide it's not worth pursuing. Here's a snapshot of four different bloggers, all of whom are at different stages:
1) The Beginner: Squawkfox, who launched her blog in January, started running ads about three months ago. She says it's too early to report any financial data, but she has been pleasantly surprised with the number of blogger friends she has made and the readership she has cultivated. She was also surprised by the amount of work involved, including time spent answering reader E-mails and learning technical skills to improve the look of her blog. "There is no easy path to blogging for bucks. It takes time, effort, commitment, constant learning, a love for people, communication, and the desire to want to help in some way," she says.
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Vote on Best Frugal Idea
Tweet Share on Facebook August 18, 2008 Comment (3)It's time to vote for the best idea for frugal living from the great ideas submitted last week. The winner gets a copy of David Blankenhorn's Thrift: A Cyclopedia.
Which idea do you like best? (Responses have been slightly edited.)
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The Great Wine Debate: Screw vs. Cork
Tweet Share on Facebook August 15, 2008 Comment (20)Before reading any further, ask yourself this question: Would you prefer your wine capped with a cork or a screw top?
I'm guessing you opted for the cork option. There's something about a screw top that seems, well, cheap. But parts of the wine industry are promoting a massive marketing campaign to remove any lingering stigma about bottles that can be opened with the twist of the wrist, because they say screw tops are actually superior to the traditional cork.
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Podcast: How to Live the Simple Life
Tweet Share on Facebook August 14, 2008 Comment (1)When I first interviewed Tim Kasser, author of The High Price of Materialism, his research, along with his life choices, fascinated me. He avoids television and grows his own food. He works part time so he can spend more of his days with his young sons. And in his research, he has found that people who shun materialism are actually happier. In this week's Alpha Consumer Podcast, Kasser shares more details about his lifestyle and the research behind "voluntary simplicity." You can also hear the Alpha Consumer Tip of the Week on how to get student loans forgiven. Listen now, download in
iTunes, or subscribe via 
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How to Overcome Shopping Addiction
Tweet Share on Facebook August 13, 2008 Comment (16)In a comment on my recent post about shopping addictions, Grace from Virginia said she used to struggle with that problem. "When I was going through a particularly difficult and unhealthy dating relationship, I was into splurging on clothes shopping. A new outfit always makes me feel a little better about myself, but in this case, I was trying to prove to myself and to [him] that I was desirable and beautiful," she wrote. Now, as a happily married woman, she has gotten control over such impulses, and realizes the spending was driven by deeper issues than simply a tendency to waste money.
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Share Your Best Ideas for a Frugal Lifestyle
Tweet Share on Facebook August 12, 2008 Comment (12)In an interview that was cut from the final version of my story on the end of credit card consumerism, Simple Prosperity author David Wann explained how he sees a huge shift happening in our culture at the moment. He calls it a move to a "restoration economy," where people want to stop working 40-hour weeks and instead start focusing on what is most important to them. For example, more people are growing their own food, trading in their SUVs for bikes, and choosing to spend their time on activities that energize them.
So, how can one go about simplifying one's life? There are many resources online to help, from Frugal Village to Zen Habits. If you've developed your own techniques, please share them below, or E-mail photos demonstrating your newfound frugality to alphaconsumer@usnews.com. The best idea will receive a copy of David Blankenhorn's Thrift: A Cyclopedia. (And congratulations to Drea, the commenter who was randomly selected to receive a copy of David E. Shi's The Simple Life.)
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Audio: Why We Are Spending Less
Tweet Share on Facebook August 12, 2008 Comment (17)Over the weekend, I spoke with WTOP about why people are behaving more frugally and whether we're all going to start spending again as soon as we have the money. (My answer was: maybe not, because by then we'll have discovered that avoiding materialism can actually make us happier.) Listen now, download in
iTunes, or subscribe via RSS feed -
Roundup: Top Personal Finance Blogs
Tweet Share on Facebook August 12, 2008 Comment (5)Financial Ramblings posted a helpful roundup of personal finance blogs, in case you're looking for more inspiration from fellow budgeters.
