Do You or Your Spouse Handle the Finances Solely? Why This Might Not be a Good Idea

When a couple gets married, one of the first things that have to decide is who will pay the bills and make financial decisions.

Ideally, both people in the relationship would make joint decisions and have open discussions about their finances, but unfortunately, this seems to rarely happen.  Instead, they may talk out large purchases, but the day to day household spending, budgeting and bill paying seems to fall on one partner.

This is generally a bad idea for both parties.

What Can Go Wrong When One Spouse Handles the Finances Solely

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Alternatives to Joining the Gym

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Every new year, people resolve to lose weight and get in shape.

One of the ways they often try to do this is to join the gym.

If you go to any gym around the country in January, you will notice that it is packed with well-intentioned people; however, come March, what does that same gym look like?

Suddenly it is much easier to use the equipment because there are fewer people waiting in line.

Resolving to lose weight and/or get in shape is an excellent goal for the new year.

Not only will you feel better, but you could likely save your future self money by proactively taking care of your health and avoiding high medical costs in the future related to excess weight.

However, joining the gym and spending a great deal of money upfront is not necessary as there are many other, more frugal, ways to lose weight and get in shape.

Alternatives to Joining the Gym

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The Art of Getting Rid of Unwanted Gifts

Unfortunately, it happens almost every year — well meaning friends and relatives give you Holiday gifts that you have no need or desire for

Of course, when you open the presents, you pretend to be delighted with the gift, but secretly you may be wondering what to do with the additional clutter.  Unless you have a very open relationship with the gift giver, asking for a receipt to return the item is very difficult to do and not recommended.

Enter the Art of Getting Rid of Unwanted Gifts:

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What Is the True Cost of Leasing a Car

The car dealership makes leasing sound so appealing.

You can drive a new car every three years, the majority of your car maintenance is covered under the lease, your monthly payments will be lower than if you were buying, and at the end of your lease term, turn the keys back in and start the process all over again.

As many as 25% of people driving choose to lease cars.

Leasing does sound like a can’t lose proposition, until you crunch the numbers, which leads us to ask — What is the true cost of leasing a car?Continue Reading

How and Why We Rationalize Spending

Millions of Americans find themselves in credit card debt, and many of them complain that they don’t know how the debt got so unmanageable.

While there may be reasons for accruing debt such as a medical ailment or job loss, often it is just the result of poor judgement and overspending.

Yet many people rationalize their spending and do not see themselves as the problem.

How We Rationalize Spending

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Consider Working at a University to Help Pay College Expenses

My aunt and uncle, both high school graduates with no college education, had nine kids and helped the ones who wanted to go to college pay for their education.

Many of the nine children now hold professional positions such as financial planner and nursing supervisor.  They are all successful adults, and some make very good salaries.

My aunt and uncle were able to help pay a portion of their children’s college costs despite the fact that my uncle worked in a factory for a number of years while my aunt was a homemaker.

How were they able to do it?

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The Three Best Financial Moves You Can Make for Your Child

My grandmother was a young bride during the Great Depression, and some of the frugality she practiced during that time never left her. When I was young, I routinely saw her washing aluminum foil and plastic bags for reuse.

She and my grandfather lived in a trailer park during retirement to minimize their monthly expenses, and when my grandpa died at 88 and later my grandma at 90, they still had a enough money left to give a small inheritance to their nine children.

That type of sacrifice and money management is seen less often nowadays.

In fact, we routinely hear about college students who graduate with thousands of dollars in both student loan and credit card debt and struggle to find a job and pay their bills.

Yet, as a parent, there are three important things you can do for your teen to put them on the financial track that will lead to a life of prosperity.

Three Best Financial Moves You Can Make for Your Child

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