PMW Announces!  www.printedowl.com, Conquer Debt Year Round Page-A-Day Calendar for sale.  Start your calendar any month year round.  Do not wait until January to get your daily dose of personal finance reality. 

August 28, 2018 - PMW Says:  Use yesterdays money to buy today's stuff.  There, going forward you are now on the right path and as for that mess you left behind get to it and clean it up.  By the way your creditor's do not agree with your radio.  They are not buying that garbage that you "deserve" to pay less than you owe.  And if one of those people you owe happens to be the IRS let me tell you that before they take less than you owe they will take everything else you may have. 

August 21, 2010 - PMW Says:  Don't tell me school supplies and fees that come with the beginning of each school year caught you unprepared.  What will suprise you next?  Christmas?  We can debate whether or not what you think is a need is really so but we will not debate whether or not these things are to be planned for.  Use your wallet not your credit line as your guide.  If you have the money you can buy it, if you don't have the money you can't buy it.  And for goodness sakes don't let the kids go to school wearing rented clothes.  Geezsh!  Own your pride, don't borrow it and that show you are putting on is like any show.  They all end eventually.  Only in your case it is called "crash and burn." 

August 14, 2010 - PMW Says:  Job loss, medical bills, car problems, home maintenance.  If you have a pulse, you will experience things like this.  Now, why experience them with one arm tied behind your back?  Meaning debt.  Think about it.  How would you look at a busted car if you had the money to fix it?  How would you look at possible layoff's if you knew you would not be one paycheck away from foreclosure?  This is a reality for 3 out of 10 of us.  Want to know how to do it the non-plastic way?  Call me.

August 7, 2010 - PMW Says:  Not everyone needs life insurance and of those that do not everyone needs hundreds of thousands of dollars of it.  If you are going to buy life insurance buy level term only and tell them they can keep their Return of Premium and other gimmicks that are not designed with your interest (pun intended) in mind.  And be careful for they have a whole script of scare tactics about things that "might" happen.  I'm all for being prepared but there is a point.  Level Term Life Insurance for the proper amount and term.  Nothing more is needed.  Anything over that is a loss . . . of your money that is. 

July 31, 2010 - PMW Says:  Save it up first, then look at it, and then you tell me if that brand new shiny new vehicle that will depreciate 15% a year for four years average is really worth that pile of cash that is, at present, yours.  You will find it is more difficult to part with "your" money than it is to sign up for a payement.  Signing something and driving away is easy.  Counting out your cash is hard.  Much research has went into the psychosis of this so don't feel like you are getting played.  No, don't feel like it, know it!  Oh and when the dealer makes a big deal out of the sale and congratulates you he is really congratulating himself.  Buy used, you get it cheaper and somebody else already ate the depreciation.  Or better yet, buy a re-po or a private sale where someone is upside down and needs to unload the thing.  And remember what you call a brand new car the day after you buy it . . . Answer:  Used. 

July 24, 2010 - PMW Says:  Healthy as a horse are we?  Well, well, well as John Lennon once wrote "life is what happens when you are making plans."  Folks there are a lot of things that one can have medically that defy the "take care of yourself, eat right, exercise, etc, etc, etc" prevention tactic.  And the cost does not end with the diagnosis.  Some of these treatments are more than a 14-day prescription and the more exoticl/specialized the treatment the higher the cost.  DO NOT SLEEP ON HEALTH INSURANCE!!!!  Yes, I know I just YELLED that.  A little personal story is involved in this weeks posting.  Put it like this, July 19, 2010 will be a date I will long remember I believe.

July 17, 2010 - PMW Says:  You can keep your victim mentality to yourself.  To qualify as a victim you need to admit you did not read what you signed, you did not think through the purchase you made using other peoples money, you ignored the balance in your checkbook and you caved to pressure from people who you let make your life decisions.  So, you still a victim?  I know, I know, the majority are carrying $10K of consumer debt, are one missed paycheck away from disaster, and going on vacations while I'm telling you to cool it and get your finances in order.  For what it is worth I have been on a couple of vacations this year.  Difference between mine and theirs is the last time I paid on mine was the last day, last hour and last minute of it.  They are still paying on theirs.  Don't be a victim, get off the "woe is me" stuff and pay your bills, get on a budget and Do Not Spend What You Do Not Have.

July 11, 2010 - PMW Says:  Whole Life, Universal Life, Variable Life.  No matter what they call it don't buy it.  Buy Level Term Life Insurance.  No gimmicks, no frills.  This is to provide money for those that depend on you.  Let insurance do what it supposed to do and not what the salesman is tellling you it will do.  And not everyone needs Life Insurance, make sure you fully evaluate your situation and save yourself some money in the process. 

July 4, 2010 - PMW Says:  Household incomes are up a couple of percent.  Discover just reported record profits for the past quarter and says card use is up, up, up.  Don't you people ever learn?  You want to celebrate real independence?  Get yourself out of debt.  Happy 4th of July! 

June 26, 2010 - PMW Says:  You do know to call your lender and get your car reappraised each year which in turn will reduce your payment to be in line with the cars current value correct?   (Put down the phone and quit hyperventilating hotshot, I’m messing with you).  The reality is the average new car price is more than 1/2 the average income.  Now factor in a new car goes down in value 15% a year for the first 4 years.  And what do you all a one day old car?  Answer:  Used.  Unless you are a millionaire you should not be buying new and if you have any debt at all you should be driving the cheapest thing possible because any extra money you have is not yours, it belongs to those people you owe.

June 19, 2010 - PMW Says:  Before the IRS takes less than you owe they are going to take everything you have.  Going through an advertiser on TV just means you are going to owe them as well to work out the deal above.  If you want to do something about your taxes, Vote.

June 12, 2010 - PMW Says:  Play by the rules.  To "get one over on the man" does not work forever.  Case in point.  British Petroleum has a process where you make a claim for lost income due to the oil spill.  Folks who have been working off the books for cash can't produce a tax return, W-2, 1099, or any other proof of income.  Of course they also have not been paying taxes yet they are the loudest to complain that the Government is not doing enough.  Not sure where I am on this.  I'm not a BP lover, I'm not an ecological or environmental activist either.  But I sure am for everyone paying their fair share.  Hmmmm, I'll have to ponder this one but it appears to me decisions in the past may be jumping up and biting here. 

June 8, 2010 - PMW Says:  Return to reality not bills.  If you can't pay for your vacation you can't go.  Hate to be the one to tell you but I'm sure you would agree a paid for poolside drink tastes a lot better than one that has credit card interest as a mixer.  Paid For Vacations are easily found.  They are at the corner of "Debt Freedom" and "Savings Account."  Go on, not much traffic to get here. 

May 29, 2010 - PMW Says:  You want easy you say?  Ok, I'll give you easy.  Gaining weight or losing money in a casino.  Can't get much easier than that.  But as for this debt elimination gig that is sooooooo hard, but sooooooooo worth it.  And by the way those brave warriors who sacrificed their lives . . . yes lives . . .  did not do it so you could run around actiling like a two year old with your money.  So grow up, give thanks and get yourself on track.  And as for those brave warriors . . . thank you on this Memorial Day . . . and every day.

May 22, 2010 - PMW Says:  Don't fall for the "same as cash" thing.  It is rigged against you.  One, a large percentage don't pay it off in the stated time.  Two, the game is rigged to make you mess up.  Three, you are paying more for the item than if you just paid for it in full in most cases.  Oh and if you mess up during the "same as cash" period the interest is tacked on from the day you purchased the item, plus penalties, plus compounding.  Use cash for your "same as cash" activities. 

May 15, 2010 - PMW Says:  If you have not saved the money you can put the brochures away.  You don't "deserve" a vacation if you have yet to "earn" the money to pay for it.  And if you have the money set aside, but are paying interest on past debt that money is not for the vacation.  Sacrifice a few years of unearned vacation for a lifetime of financial peace.  Get your mind out of "now, now, now" if you want to win.  Tell you what, try this.  Go to the airport.  Go to the cell phone lot.  Park the car there and chill for about 15 minutes.  Now, put the car back in gear and as you leave the airport ask yourself if you want to do this for real in a few months with $5,000 more debt.  Hey, if you answer yes to that question I shake your hand and we just part ways.  You don't deserve it until you have earned it. 

May 8, 2010 - PMW Says:  Good jobs numbers, bad jobs numbers.  Debt crisis in (pick a country, including the US) at any given time.  Consumer Price Index.  Consumer sentiment.  Jittery market, jittery investors, the sun came up, the sun went down.  

Heck of a thing to watch and to let set your day-to-day (and some minute to minute) mood.  And besides whatever money you need in the next 5 years should not be in the market, you should have it in nice safe savings accounts.  Anything more than 5 years you can have in the market.  Knowing you are in it for the long term allows you to view the financial news with some amusement.  You did know the five year thing right? 

May 1, 2010 - PMW Says:  I believe in "Worth" not "Net Worth."  Worth is what you are worth.  Worth is what you have after you minus out what you owe.  Some put the word "Net" in front of the latter to make themselves feel good for a minute.  It's like saying, "ok, if you don't count all this, I'm really doing good" or in my case I put it an even more simpler way, "If I was not ugly I would be good looking."  I can't fix my looks but I can sure not owe anyone and know my "worth." 

April 24, 2010 - PMW Says:  Relative/friend gets turned down for a loan from the bank.  You think you know more than the bank and co-sign.  $25,000 car loan results.  Relative/friend loses job, is ashamed to say anything and in the process lets the insurance lapse.  Whoops . . . car wreck.  No one is hurt thank goodness but car is totalled.  About 3 months later the bank calls you telling you that you are (note YOU ARE) 3 months behind on payments.  Huh?  You go searching and what you don't find is the other co-signer and the vehicle.  He/she has skipped town and the car is totalled.  So what are you left with?  Anty up smart guy, you owe on a $25,000 car loan.  And by the way a place who sells money (Bank) thought the relative/friend was not worth the risk but you had to be smarter than them huh?   Never, ever, ever (get it?) co-sign a loan.  

April 18, 2010 - PMW Says:  The IRS will never call or e-mail to initiate contact.  They will always start with a letter.  Careful, its "Scammer Season" and they are real and they are "real good."  Taxes are bad enough, don't add being a scam artist victim to the equation. 

April 10, 2010 - PMW Says:  Want a new car fix?  Call Hertz.  Rent one for a week.  You get the smell and it probably won't take that long but a week should get it out of your system and make you realize that after a week a new car is . . . a week old.  Latest figure I saw is the average price of a new car is $26K.  The average household income is $50K.  Anybody but me see a math issue?  Call Hertz. 

April 3, 2010 - PMW Says:  I'm not here to debate what you do or do not deserve.  I am here to tell you however that the vacation you think is so rightfully yours needs to have been planned for financially and when you get home you only bring your luggage and not a bunch of credit card receipts.  Paid-For Vacation.  What a concept.  Don't pay on a 7-Day cruise for years.  Own that Mai-Tai you had poolside, don't pay interest on it.  Oh, and as for that theory, "I'll pay it off when I get home" tell that to your car's alternator, your home heat pump or that medical emergency that may happen and take that money elsewhere.

March 27, 2010 - PMW Says:  Ok, so you listened and got the high deductible on your car and home owners insurance.  Very good.  No sense paying higher rates for a small deductible.   These types of insurances are for catasrophe's not dings from the parking lot or a few hundred dollar house repair.  The minute you submit those your rates are going to sky rocket.  So, what did you put on the car?  $1,000?  House?  $2,000 to $3,000?  Great . . . what is that?  Well yes, you need to have that money available at any given time in a seperate account.  Why am I telling you all this?  You know all this right? 

March 20, 2010 - PMW Says:  If you cannot fathom paying off your house you are living in a house that is more than you can afford.  Think about it.  And quit calling it an investment.  It is a house.  It is where you live.  It is not a commodity that you buy and sell like day trading.  If you happen to make money on it someday great but for today how about just living in it?  Oh, and the faucet is leaking, the door squeaks, need some touch up painting and don't forget its time to replace those filters.  Yep, all that stuff those that told you how it was cheaper to own than rent are biting your rear-end now huh?

March 13, 2010 - PMW Says:  Never, ever, ever (get the point?) mix your money with your friends or your family.  It changes the realationship immediately.  As for you married follks money fights are the number one cause of divorce.  Imagine if you two can get on the same page in this area and remove that problem.  How good would that make your day? 

March 6, 2010 - PMW Says:  It just dawned on me, I never asked.  You do want to end up wealthy right?  Not just look the part but really be the part.  There are many who wear the look but don't own it.  It's one thing to act it when everyone is looking it is another to be it when they all turn away and it is just you and your mirror. 

February 28, 2010 - PMW Says:  $650 worth of damage to a gutter from an "Ice Dam."  $1K deductible.  You do know you are to have the $1K deductible set aside and use $650 from there to fix the gutter right?  You don't turn this claim in against the homeowners.  Makes the rates go up and totally makes the point of what you are up to moot?  If you did not know this don't fret, many misunderstand what it is they were advised to do.  Give me a call, I'll tell you for free.  Well it does cost you $20 to a charity of your choice so there is that cost.

February 20, 2010 - PMW Says:  So, second round of credit card bills showing up from Christmas about now right?  Spring sports fee's for the kids coming into view?  How about that Summer vacation you promised everyone?  That will cost money too right?  Oh, and that thing called an "ice dam" brought the gutter on the backside of the house down and now it is laying in the back yard all twisted up.  That thing is not getting fixed without some cash now is it?  Do you realize there are people (sadly not enough) who did not take on debt at Christmas, who planned for known Kid and vacation expenses?  Who have money set aside for home maintenance and/or emergencies?  Do you know you can be one of them?  Go talk to the person in the mirror and let me know if you want to give it a try.  It is all it is cracked up to be. 

February 14, 2010 - PMW Says:  So Casanova and Casano-vette.  You go out, spend money you do not have on each other to profess your what for each other????!!!  I like gifts as much as the next person but a gift that is not paid for can stay in the store.  How about the two of you sit down and give each other the time that is needed to have a heart-to-heart about getting your family out of debt, on a plan, with an emergency fund . . . and change your lives so you can really have a "happily ever after" and actually recognize it when it is happening?  You may not have a box of chocolates today but they will be there in your future . . . and you will be able to afford them.  Happy Valentines Day.  Make this one really mean something.  

February 6, 2010 - PMW Says:  Can I interest you in an extra $200 a month in take-home pay?  Would that come in handy?  Part time job at $10 an hour would require you to work about 30 hours (taxes would come out of that $300) right?  I'm offering this for nothing more than you making the effort to fill out a new W-4 and reduce the amount of State and Federal tax you are having withheld from each paycheck instead of getting that $2,400 refund once a year come tax time.  I won't even get into the fact you are giving the Fed or State an interest free loan if you are having too much withheld which is crazy in and of itself.  (P.S. Divide your refund by the number of times you get paid to figure this up for your specific situation.  I just used $200/$2400 for the simple math sake) 

January 30, 2010 - PMW Says:  I have been wrong!  I have been spouting that seven out of ten adults live out of control financially with no budget or clue as to what money is coming in or going out or whether they are spending more than they have.  I have been trying to make you feel bad if you are one of majority and you look at me like I've lost my mind.  Now I realize your ranks are even bigger than I thought.  Your majority has grown.  You get to add infants, toddlers, elementary, middle school and young high schoolers to your ranks.  There are even more of you than there are of me.  Geez, no wonder you think I'm nuts.  You and the 3rd graders are showing me aren't you?  C'mon folks, time to grow up. 

January 23, 2010 - PMW Says:  You done dorking around?  You done with the quick fix attempts?  How about putting forth an effort (do a budget), showing some discipline (follow it) and put in the time (forever) to make this work?  Effort, Discipline and Time.  Pretty simple ingredients to putting your financial woes behind you don't you think? 

January 16, 2010 - PMW Says:  Welcome to the "death march" part of the resolution you made a few weeks ago.  The one to get on a budget, not spend more than you have, let your pocketbook be your guide, paying in full, and getting out of debt.  Like a political press conference it is all exciting at first, then the camera's get turned off and it's time to actually do it.  Old saying "Head down, rear-end up" applies.  In other words, it would be easy to stop and go back to your out of control ways but you know what that gets you and you don't want to go back there do you?  Seven out of ten are living out of control financially, we want you to stay here on this side.  Please! 

January 9, 2010 - PMW Says:  Actor, Hero, Cowboy, American Icon.  John Wayne once said, "LIfe is hard.  Even harder if you are stupid."  I add it is downright impossible if you are lazy, irresponsible and refuse to face reality.  A good start on the financial side is to do the Income - Outgo = YOUR REALITY equation.  Start here, and you may find the mindset applies to the rest of your life as well. 

January 1, 2010 - PMW Says:  Happy New Year.  New Year resolutions come and go but being debt-free lasts forever.  Your journey begins today.  List all monthly income for your household.  Next list all monthly expenses.  Do the math.  Are you in the red or green?  This is the first step to taking control.  Go ahead, take that step, all you have to lose is pain, anger, anguish, stress, confusion, concern . . .

December 26, 2009 - PMW Says:  If you had a Merry "Paid For" Christmas I applaud you.  If you bought gifts using debt you can feel free to begin to beat yourself up.  And while doing so you can start making your plan as to how you are going to have those debt's paid off by 2010.  The line for part time jobs is pretty short in comparison to the line of those spending money they don't have to buy stuff they don't need because the store marked it down the day after Christmas to a price a little closer to what it actually cost them.  Hey, it's a simple math equation.  Income minus outgo equals a number.  Don't get mad at me, I did not invent math.

December 19, 2009 - PMW Says - A fresh blanket of snow, a warm home, paid for presents under the tree, a full pantry of food, nowhere of any importance to be and no debt.  As in beholden to no one financially.  Now why would you go mess that up this last week before Christmas by breaking down and making that purchase on that credit card?  Paid For Christmas . . . stay strong, don't do it. 

December 12, 2009 - PMW Says - Not many grasp the concept but those that do succeed.  The concept is to “use yesterdays money to take care of today’s expenses and purchases.”  Want to stand apart from the crowd?  Try this and you just leapfrogged 70% of the population.

December 6, 2009 - PMW Says - If you are in debt there is one place you should not be.  That would be in the friends and family Christmas gift exchange.  C'mon now.  How is spending money on gifts instead of sending it to pay down your debt helping your plan any?  Opt out of the gift exchange and tell them why.  Tell them you are in debt and you are getting out.  Those that don't understand or take offense you should reconsider how they fit into your life anyway.  Get out of debt . . .don't give debt.

November 28, 2009 - PMW Says - Please tell me you did not spend all day yesterday spending money you do not have to buy presents for people who will not remember a few months from now that you even got them a gift, let alone what it was.  Take that stuff back.  It is not yours anyway, it is VISA's.   

November 23, 2009 - PMW Says - Sensibility Saturday is when you return all those things you bought on Black Friday that you did not pay for in full with cash.

Do not ruin a wonderful holiday period by taking on debt to pay for presents for people that will not remember years from now you even bought them a gift.

Refuse to use credit this holiday season. Using credit is your agreement to pay more than is being asked by the seller. On what level does this make sense?

If you are going to pay for it with tomorrow's money then wait until tomorrow to buy it.

Paid For Christmas is right around the corner. Many are joining the "Paid For Christmas" march. Be part of this crowd. To buy a gift on credit is to give debt as a gift. If you are using debt to buy, and another is uisng debt to buy for you, how about the two of you just say Merry Christmas and mean it and go on your Merry way?

Seven out of ten live paycheck to paycheck, carry $10K worth of non-house household debt on average and average 9 open accounts/loans not including the house. I do not expect many to read and heed this but if just one more came over to the debt-free, on a budget, cash or debit never credit side it is a start.

Happy Thanksgiving to All! 
 

November 21, 2009 - PMW Says - Negative information on your credit report is not the same thing as inaccurate information on your credit report.  You can have inaccurate information removed.  Don't let these "clean up your credit report" scams tell you different.  Their methods use fraud and/or deception to do what they say they can do and we are not going to play along with that now are we?  Fraud and deception can be summed up in one word . . . "illegal."  As in fine, penalty, jail, illegal. 

November 14, 2009 - PMW Says - People in debt "need" their jobs and others are waiting on the money they are making.  People out of debt "want" their jobs and keep the money they are making.  I would say that is a pretty stark distinction wouldn't you?  Not like there is a gray area you are being presented with or a confusing set of circumstances you need to decipher to decide which camp you want to be in.  If it is confusing to you ask a "Grayhair or Millionaire."  I'm sure they can point you in the right direction.   

November 11, 2009 - PMW Salutes - Our Veterans did not sacrifice their lives so that we could live in debt.  They sacrificed so that we could live in freedom.  To do otherwise is to do them a disservice.  Thank you Veterans for your service and sacrifice. 

November 7, 2009 - PMW Says - The number one cause of divorce is tied directly to problems with money.  This is followed by raising kids issues, in-laws and religion.  Odd that the easiest one to deal with of the four is number one isn't it?  The last three require a lot of work where money only requires a calculator, the two of you growing up and common sense.    

October 31, 2009 - PMW Says - You want scary?  Ok, how about:  Debt, no emergency fund, no home maintenance fund, no car repair fund, no money set aside for Christmas, burthdays, or other known events.  More?  Ok, adjustable rate mortgages, house payments totally more than 25% of your take home pay.  Now that's scary!  Happy Halloween.

October 24, 2009 - PMW Says -  "There is no such thing as savers remorse."  (Quote seen on the www.ingdirect.com website).

October 19, 2009 - PMW Says - Read your junk mail.  The Credit Card Holders Bill of Rights Act goes into full effect in February. Ahead of that deadline, companies are changing the terms of customer agreements. For example, the new law prohibits raising the interest rate on existing balances unless a customer pays more than 60 days late. To skirt that provision, firms are notifying customers that their cards are now "variable rate." (Translation: We can jack up your rate whenever we please.)

They are disguising these notices to look more and more like something you would just toss a junk.  So watch those benign notices, and be ready to call and demand a fixed-rate card or take your business elsewhere. Amid these tactics, a new bill calls for moving up the deadline on the credit card law to Dec. 1.
 

October 11, 2009 - PMW Says -  An extra job.  There, I said it, go get an extra job.  Nobody asked you if you wanted to work 16 hours a day, most people do not.  But if you have cut your expenses to the bone and are still coming up short how else are you going to fix YOUR problem?  And guess what?  If you increase your income you have more to put against your debt.  Best thing is once you pay off a dollar of debt it does not re-appear, it is gone forever.  Go get the second job and before you do don't get all high and mighty on what you will and won't do.  Executive by day . . . pizza delivery by night.  Do it.

October 4, 2009 - PMW Says:  75% of Forbes 400 wealthiest all responded to build wealth one must stay out of debt and you must have a plan (budget) for your money.  94% of them have never leased a car.  The average millionaire lives in a modest 3 bedroom house and drive used cars.  But what do they know?

September 26, 2009 - PMW Says:  Time to do a dummy tax return.  You know, the one where you run your numbers in comparison to last year to make sure you are having enough held back for any Federal or State taxes.  You do this right?  And you do realize earlier this year they reduced the amount held back for Federal tax but they did not change the tax tables.  You know all this right?  www.turbotax.com has a very easy tool called TaxCaster.  Give it a go.  May save you from a big surprise, or to big of a refund, in a few months.  It's your money folks.  Take care of it.

September 19, 2009 - PMW Says:  If you are debt-free, live on a plan (budget) and have an emergency fund you will find you cannot bring yourself to make to many money mistakes and any that you do make you will find you can easily recover from.  You actually find that you become ultra-conservative when it comes to what you do with your money.  Not a bad place to find yourself if you think about it. 

September 12, 2009 - PMW Says:   I use cash.  If you are going to steal my identity I look a lot like George Washington.  I favor Alexander Hamilton.  Resemble Andrew Jackson.  And once in awhile I'm mistaken for Ben Franklin.  Cash . . . its the new look.  Try it.

September 5, 2009 - PMW Says:  If in debt you should be focusing on the "labor" part of this weekend instead of the "celebration" part.  There will be time enough for celebrating later when you can do it debt-free.  Go ahead, get mad, but you know I'm right.

August 29, 2009 - PMW Says:  Billy and Susie have been at college for a couple of weeks now right?  So how they doing on your money?  They sleeping in?  Cutting class?  Not taking it serious?  Hmmmmmm, nice that you have a 3-Day weekend coming up where you will have their full attention to provide a needed course correction huh? 

August 22, 2009 - PMW Says:  Economies expand and economies contract.  Prices go up and prices go down.  Recessions come and recessions go.  Being debt-free is a pretty good anchor during all these shenanigans and frankly their effect on you is tremendously lessened.  The "Me-Conomy" chugs along pretty good not being a slave to any lenders.

August 15, 2009 - PMW Says:   Being debt-free means you wake up to birds chirping.  Not an alarm.  Funny thing happens after you wake up too you don’t mind going to work.  You actually get a little excited about it.  Weird huh?  You bet it is.  Ready to give it a try?

August 8, 2009 - PMW Says:  Not sure how it works in your world but in mine I am either 100% employed or 100% unemployed.  The other thing I figured out is that if there is no longer work for me where I live then I move.  If you boil it down to survival the choices become a bit more clear.

August 1, 2009 - PMW Says:  Look.  I know I preach.  I know I'm boring.  But do one thing for me and I'll shut up.  Try a payday being debt-free.  You do that and see what you think.  I think you will like it but again . . . what do I know? 

July 25, 2009 - PMW Says:  The Cash For Clunkers thing being touted by the Government applies to a very limited group of cars that you can trade in and subsequently buy or "fleece" (yes, I spelled that correctly).  In addition it only applies to a "fleece" (again,  I mean that) or purchase of a new car.  You all know only debt-free millionaires should be driving new cars . . . and most of them don't.  Choose not to participate in this thing.  You are not missing anything.  As always do your own research, don't take some guy on web's word as gospel ever.  Come to your own conclusions, you are your own best advocate.

July 11, 2009 - PMW Says:  I trust that little Billy or Suzie's summer employment is filling out every application for every scholarship, grant and otherwise free money to help pay for their upcoming college education right?  I mean the less you have to spend the more you have to spend . . . on yourself later on.  Put em to work, time to teach em there is no free ride.

June 27, 2009 - PMW Says:   Let's say your credit card company actually does forgive part of your balance and you settle with them for less than you owe.  Did you realize next year you will receive a 1099 and you will have to claim the forgiven amount as income?  This means you pay tax on that amount.  Be prepared.

June 20, 2009 - PMW Says:   Insurance is due at least every six months. Homeowner association fees at least quarterly. Christmas comes every December 25th. Birthdays are the same date every year. Why didn't you save money before these events became expenses? You really have no good excuse, do you? These are the easy expenses. You know when they're going to happen. Plan for them. Going further into debt isn't an acceptable solution.

June 13, 2009 - PMW Says:  Warren Buffett of Berkshire Hathaway fame prefers using "Book Value" to measure the success of his company.  Book Value is simply assets minus liabilities.  In personal finance this can be characterized as income minus outgo.  So, one of the richest guys in the world keeps it simple . . . how about you?

June 6, 2009 - PMW Says:  I’m open minded. I’ll listen. Tell me again the good things debt does. Sit back and really ask yourself what debt has done for you that you would consider good and long lasting. Paying forever on a seven day cruise does not make sense. Paying for years on depreciating assets (cars) does not make sense. Agreeing to overpay (credit cards) for purchases does not make sense. The only two kinds of financial debt that you should ever consider is an education loan or home loan. 

May 30, 2009 - PMW Says:  If married, you can’t go forward together if both of you are not involved. Have a budget meeting weekly, it is a must if you are going to prosper together. Some want the other to take care of the money and to just give them an allowance of sorts. This is not a relationship, this is parenting. Some say they want nothing to do with the money but are quick to complain. This too is not a relationship, this is just childish. 

May 23, 2009 - PMW Says:  They sacrificed their lives for our freedom.  That freedom unfortunately allows us to spend money we do not have, ignore basic budgeting and sacrifice our future for instant gratification.  Come on, do more with what they gave us than that. 

Memorial Day . . . remember the fallen and say thank you by taking control and being responsible in personal finance.

 

May 16, 2009 - PMW Says:   We should be ashamed.  Do we really need a bunch of people in Congress who spend money they do not have to write legislation to protect us from those mean old credit card companies?  How long are we going to rely on someone else to fix our problem?  And by the way putting a few restrictions on a credit card company does not fix the problem.  Being knee-deep in credit card debt is a symptom.  The problem is in the mirror.

May 9, 2009 - PMW Says:  The last thing you need on your mind in a doctor’s waiting room is how to pay for whatever comes next. Health insurance is a must have, and having money set aside for services not covered by insurance allows you to focus on your health, not the cost of getting well. Health worries combined with money worries only impede the healing process.

May 2, 2009 - PMW Says:  Worry about the “ME-conomy” not the economy. Create a ME-conomy for yourself and place your worries there. You can’t control what others do but you can control what YOU do. So often people judge where they should be in life based on what others have. Personal finance is not about perceptions or show but about you and your calculator. It's about not having debt. It's about owning what you have, not what others have.  

April 25, 2009 - PMW Says:  If you had to come up with a certain amount of money to save the life of a loved one you would do anything legal to do it right? Sell stuff, take on extra at work, find an extra job or two right? How about saving your own, or your families, life? Isn’t that the same thing? What are you waiting for? Debt kills families. Money problems are the number one cause of divorce. Remove this from your personal equation, never let debt or money problems interfere with your home or the lives of those in it. 

April 19, 2009 - PMW Says:  Start early to avoid financial pitfalls. Adrian Cartwood, 49, author of the blog How to Make 7 Million in 7 Years, made his fortune by living frugally while he built his technology-related business. People often get into trouble, he says, by racking up personal debt early on, which acts as a big drag on their earnings. "Learn how to live within your means and how to delay gratification; these are the habits that you need to maintain on the way up, so you can keep your millions when you get there," he says.

April 11, 2009 - PMW Says:  In the debt free world being able to afford something is not referring to the payment. Being debt free is to swear off any new debt. Being debt free means you will not make a purchase on time or credit. Being debt free means you are wielding a powerful weapon in any negotiation. That weapon is CASH.

April 4, 2009 - PMW Says:  Cable/Dish, internet, cell phone, lottery, smoking, alcohol, lunch out, dinners out, going out, not paying attention to your shopping . . . etc, etc.  So? You are broke huh? There may be a problem here but it may be in your mirror. Your problems may be spending based not income based. Or as my Grandparents used to say: "you have a champagne taste on a beer budget."

March 28, 2009 - PMW Says:  You, and only you, decide to borrow money. So don’t bemoan the fact you now have to pay it back. No one makes you borrow money. No one makes you take possession of things that are not yours in exchange for sending them more than the item is worth on a monthly basis. No one twisted your arm and makes you wear other peoples clothes that you pay for through VISA. In short, if you did it you are to blame. No one else. So fix the problem.

March 21, 2009 - PMW Says:  "In a heartbeat."  This is the answer to the question, "How fast will you charge me $100 an hour to write down my income and then subtract my expenses to give me a dose of reality on whether I am spending more than I have?"

March 14, 2009 - PMW Says:  Suck it up and get the second job.  Any embarrassment you feel pales in comparison to having your belongings stacked on the curb later on.

If it is an income problem then you need to increase your income.  No one wants to work all day long, but you are the one who put yourself in this position so take care of YOUR problem before it escalates to the point of no return.

March 7, 2009 - PMW Says:  Getting out and staying out of debt cannot be argued against intelligently.  Note, I did not say it could not be argued against.

February 28, 2009 - PMW Says:  The easy part of my job is telling you what you already know.  The hard part is getting you to listen.  The reality is you do not need me to fix your problem.

February 21, 2009 - PMW Says:  Well they passed it and he signed it.  So, is that $13 in a week going to be the "stimulus" you need to fix your problem?  Only YOU can fix YOUR problem.

February 14, 2009 - PMW Says:  Keeping your family in debt is not a good Valentines Day gift.  Show them how you really feel and begin to get them out of debt today.

February 7, 2009 - PMW Says:  How dumb does the Government think we are?  A credit ($7,500 homeowner tax credit) is not something you pay back $500 a year.  That's called a loan.  Give us some credit for our intelligence.

January 31, 2009 - PMW Says:  If you are in debt you have no business buying a house.  Get out of debt first, then buy.  It keeps life simple. 

January 24, 2009 - PMW Says:  It is a simple math equation.  Income minus expenses equals either a green number or a red number.  Do the math at least.

January 17, 2009 - PMW Says:  Regardless of the political party politicians in D.C. are not going to fix your problem.  Your debt can only be addressed by you.  Think about it.  The last "stimulus" check you got from D.C. was what?  $300?  $600?  Get off your rear-end and take care of your problem.

January 10, 2009 - PMW Says:  All that anger and frustration that comes with debt can be avoided.  Did you know that? 

January 3, 2009 - PMW Says:  When you use credit you agree to pay more than is being asked.  On what level does this make sense? 

December 27, 2008 - PMW Says:  In 2009 you have absolutely no other choice than to begin to rid yourself of your debts.  Just beginning is liberating.  You have to do this, you have no other choice if you want a real life.

December 20, 2008 - Presents under the tree not paid for in full don't belong there. 

December 13, 2008 - The only bailout I'm for is the one you do for yourself.  Start the process to get yourself out of debt, take responsibiity for your actions and take control of your life today.  And one more thing, "Don't Spend What you Don't Have!"

December 6, 2008 - "Paid For Christmas"  Do not put one present under that tree that you have not paid for in full.  This is your life, take control.

November 29, 2008 - PMW Says:  Sensibility Saturday follows Black Friday.  This is when you take back those things you bought on credit yesterday.  You’ve had your fun buying them but it’s time to take them back.  They aren’t yours and you know better.

November 23, 2008 - PMW Says:  Happy Thanksgiving.  Please do not ruin a wonderful holiday by going into debt on Black Friday.  You deserve to treat yourself better than that.

November 16, 2008 - PMW Says:  The economy will recover.  Will you still be in debt?

November 8, 2008 - PMW Says:  In my world missing cars are called stolen, not repossessed. 

October 31, 2008 - PMW Says:  Debt is the ultimate scare.  Happy Halloween. 

October 25, 2008 - PMW Says:  If you are in debt the economy is not your problem.  Quit using it as an excuse.

October 18, 2008 - PMW Says:  What I teach is 80% behavior and 20% bookwork.  So put down the calculator and go look in the mirror.

October 12, 2008 - PMW Says:  If you have debt but are concerned about the stock market.  Your concern is misplaced.

October 5, 2008 -  PMW Says:  Never, ever, ever mix money and family or money and friends.

September 28, 2008 -  PMW Affordability Test:  If you can’t buy it outright, you can’t afford it.

September 21, 2008  - PMW asks:  Why do you think they call them credit cards?  Answer:  “Stupid Cards” did not test market very well.

September 14, 2008 - PMW Says:  The only time ARMs don’t go up is when you are looking for volunteers.

September 8, 2008 - PMW Says:  Spend less than you make.  Always be saving something.  What part of “no-brainer” needs repeating?

September 2, 2008 - PMW Says:   Don’t raid your future to satisfy your present.

August 25, 2008 - PMW says:  I teach the importance of staying out of debt.  That’s all I’m about.

August 22, 2008 - PMW says:  Don’t believe everything you see or hear.  Budweiser does not have frogs that sing, Geico does not have a talking lizard and the duck at AFLAC really can’t talk either.  Just because it is on TV, radio, in print or especially on the web does not make it real.  Check things out thoroughly.