I Think We Need A Change...

Photo courtesy of Forgotten memory



As you know if you've been around us for even 5 minutes, we've been at this for almost 2 full years now! September 13th - which also happens to be my birthday - will make it official.





Within those 2 years we've picked up a lot of personal insight and we've also tweaked a number of techniques to find a more 'custom' fit than most of the major programs provide. We took all of the info and then applied our personal filter to it based on our beleif system, our financial situation at the time, and our decisions based on just how aggressive we wanted to be at the outset. Once we got the hang of it we essentially just let it run it's course without much change. Sure there was a streamlining process that we had to go thru but it mostly happened as a result of our weekly budget meetings and in very small increments.





But now I'm coming to a place where I feel we need a change in strategy. And I'd prefer for it to be a MAJOR change! At times I question if we are somehow too 'comfortable' with the pace we've settled into lately. Quite honestly there are times where I dont feel very "Gazelle Intense" at all about what we're doing.





And then when you couple with that the fact that we are quickly becoming role models through the ever-extending reach of this blog, Facebook and Twitter it becomes a challenge sometimes to manage a balance between what we're doing as a household vs. what we want to empower you to do as a person/family.





The bottom line is that I feel the need to possibly change the way we are approaching our debt. I'm looking for a way to make it 'fresh' again to us in spite of the fact that we've accomplished so much and are now at our virtual halfway point in the journey.





I'd love to hear ideas from any of you who have felt this same way and done something about it! Please leave me a comment below or hit me up on Twitter with your suggestions!





See ya next time,

@W




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Simple Secrets: Paying on it vs. Paying it OFF

Photo courtesy of Tea & Jam

Ok folks. In my last post we went over the basics of the 7 Baby Steps that have helped us pay off over $53,000 in debt in the last 20 months. But today, I'm going to let you in on a little secret: There should actually be 8 baby steps!

Step Zero: Stop using currently established and available forms of credit, and also stop accepting NEW forms of credit.

This step contains the key to your Total Money Makeover, and it's such a radical shift from 'the norm' that it causes many to fail even before they start. Some folks just cant get their head around living off of CASH.

When you really get the point of this program, you will soon realize that you really don't need credit at all. Not for credit reports, or FICO scores, or for your cash back rewards. You don't need it.

Minor tangent: Speaking of cash back rewards... how much CASH are you really getting BACK when the creditor is charging you interest for the use of your credit line? Think about it!

Now, in my last post I promised to tell you why we REALLY chose to stick with this system, and here is the reason: Because at first we felt like we were doing something WRONG. And when I say 'wrong' I mean we felt like we were being disloyal to the credit industry in some way. It's hard to articulate, but Visa and MasterCard have become so prevalent in our society and in our spending habits, that it felt truly odd to simply make the decision not to use our charge cards! How sick is that?

The entire credit system is propped upon the fact that they NEED you to NEED them. They constantly send the message that if you aren't using credit in some way, you simply will not be able to 'compete' with or keep up with the average consumer. It's a very Pied Piper mentality!

Once we realized why it felt so wrong, it lit a fire in us! And it opened our eyes to the many tactics and tricks that are pressed upon the average consumer.

THIS IS A WAR PEOPLE! And if you haven't noticed, take a look at what this nation has been through in the last 16 months as proof. The housing market collapse, the banking and financial institution implosions, the economy woes, the employment issues. They are all mutations of one virus: CREDIT...

Credit tells you it's ok to spend more than you actually possess. Credit tells you it's ok to borrow against your future, to acquire something today. Credit can erode your character and your sense of delayed gratification, and it can also ease you into a place of irresponsibility and 'living for the moment' emotional purchasing.

Because of this, you are required to make a change in your approach toward money. This is where the title of my post comes in. People who are comfortable with debt, have no problem "paying on" something far longer then they ever intended to, because they get lulled to sleep by the convenience factor of a payment plan.

Meanwhile, those who have had enough of this game of debt become addicted to "paying off" things as quickly as possible so that they can free up their income and truly live a life that's not dictated by a three digit score, and the limits on their cards.

Thanks for tuning in, I hope you're enjoying this expose' series.

Next up: "The $1,000 Scramble"

You are worthy of the journey!

@W







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These "Baby Steps" AIN'T for Babies!

Photo coutesy of Bettina.Schwarz

In the last 2 posts I've kind of gone thru a sort of 'reset'. Maybe it's a second wind of sorts? I dont know. But I've felt the need to simplify the emotions and actions WE (my wife and I) faced when we first started out so that YOU can duplicate them as much as possible.

In the first post of this mini-series, I laid out exactly what we're doing and how it has helped us pay off $49,000 in debt in only 19 months! In the second post I continued to zoom in on the mindset and underlying philosophy of "Living Like No One Else".

Luckily we never felt overwhelmed with the process, and I think that is in part due to what I intend to share with you in this post. In his book The Total Money Makeover, Dave Ramsey calls them the Baby Steps. They are meant to be simple bullet points on your journey to debt freedom.

But please dont sleep! Just because these steps are simple, doesnt mean they're for 'simple' people. It takes vision, committment, and perseverance to see these steps through to completion!

I want to take a few moments to list them out below, but I'll delve deeper into each step in future posts.

Step One: Save $1000.00 CASH as quickly as you can to start "Emergency Fund"

Step Two: Pay off ALL debt in order from smallest to largest using "Debt Snowball".

Step Three: Save 3-6 months worth of expenses, to fully fund "Emergency Fund".

Step Four: Invest 15% of income into Roth IRA's and Pre-tax retirement.

Step Five: Begin funding your childrens' College Educations.

Step Six: Pay off your home early

Step Seven: Build Wealth & GIVE! (Mutual Funds, Real Estate, ect.)

Step "Zero": STOP using any forms of credit and accepting new forms of credit.

Pretty simple and straight forward right? Well yes, and no. Yes, because they set a framework for you to follow. No, because if you dont follow the framework that has been set... you'll only be making it harder for yourself. In addition, these steps can't tell you how aggressive to be in your Total Money Makeover. The intensity level must be left up to you.

The downfall to the simplicity of this plan is that so many "SMART" people in this world think they need to re-invent the wheel and make it more sophisticated. But as the saying goes "K-I-S-S" (Keep It Simple Stupid).

As I said before, I'll be breaking each step down and explaining why the order is so important. I'll also be sharing exactly why we REALLY chose to stick with this system. As you become more and more familiar with the steps, you will inevitably feel that something is "wrong" about them. This is natural! At first, I did too, until I realized how CONDITIONED i had become by the FICO scores and the credit card industry! They NEED you to NEED them, and they're NOT going to make it EASY for you to cut them loose!

We'll talk about that further in my next post where I'll address the 'objections' I've heard toward getting out of debt. The reason objections is in quotes is because the people objecting were spitting out all the BS that is fed to them daily by the media and credit card industry.

Next Episode: "Paying On It VS. Paying it Off"

You are worthy of the journey!

@W







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You Want Me To Do WHAT?!?!

Photo courtesy of ppc007

In my last post I left you with this thought:

"Live like no one else, so that one day you can LIVE like no one else."

Please try and get that into your spirit whether you choose to get out of debt with us or not! It's going to apply to whatever obstacle you need to face in order to reach that goal you fantasize about.

In our case though, that statements speaks to our financial situation in a very powerful way. My wife and I were blessed enough to start getting out of debt in 2007 which was way before the economy went south. The reason I call it a blessing is because it would have been 20 times tougher for us to go through some of the things we've faced, if we were just starting at during a time like this. But in no way am I saying it can't be done. I know of many people who started their jouney to debt freedom when things were at their worst, which to me is all the more commendable and impressive.

But let me get back to my point. "Living like no one else" means letting go of all the credit cards, charge cards, department store cards, gas cards, the loans ect. "Living like no one else" means living only off of the money you earn from your salary. And let me tell ya people, it takes serious guts to do this! This might be the equivalent of a life-long meat eater going Vegan "cold turkey" as they say. Or I guess more fittingly "cold to-furkey" lol.

But for me a far better and meaningful example is the commitment, determination and surrender a person undergoes when they give their life to Jesus Christ. This process can be nearly as liberating and transforming for your finances. "Living like no one else" means doing what others are afraid to do because it might cost them something trivial on the front end!

Let me make one thing clear real quick. Just because I'm not spending all of my money on watches and flat-screens NOW, doesnt mean it's ALWAYS going to be this way for me. In fact I have just over a year left to go before I can get back to truly ENJOYING my money again, and yes even BLOWING some money on material things. But that will be just fine because at that point I'll be able to AFFORD IT!! I made a decision to SACRIFICE for just 2-3 years of my life so that I wont have to sacrifice for the REST OF MY LIFE!

Unfortunately, too many people have been sold the idea that they simply cannont exist without credit. It's become unrealistic to many because all of their 'dreams' reside far outside of means!

"C'mon, who really pays CASH for a car nowadays? That's just not realistic! I'll never have a nice ride, if I go that route!"

"Can you even get a house without having a MORTGAGE, is that even possible?"

"And just forget about paying for your children's college education unless you refinance that mortgage! Raising enough cash to pay for it outright?!? Is that even possible?"

"Is that even possible?!" This might be the second most popular question I'm asked when it comes to our debt journey. And at least for us, I'd have to say "Yes, it's very possible."

"Living like no one else" requires a paradigm shift, or rather a change in your thinking. But take heart, you dont have to undergo that shift overnight! This is where the "Baby Steps" come in...

In the next episode: "These "Baby Steps" ain't for BABIES!"

Stay Tuned...

@W







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What the HECK are you DOING?!?!

Photo courtesy of Whysteriastar


The title says it all... it's the number one question I get from family and friends when they ask how we're doing with "the debt thing".

Four years ago, my financial routine was as follows: To spend nearly all of my money on multiple pairs of the same sneaker in the same color, a PlayStation game or two, and the latest DVD release from Best Buy for that week. Once those major priorities were taken care of I'd make sure I had enough money left to cover breakfast, lunch, and dinner from McDonald's, and enough gas money to get me back and forth to work. No savings, no 401k, no responsibility. I didn't even know HOW to budget, let alone consider following one! But me? Man, I was living THEE LIFE! ...Right?

My how life has changed! Before we started this journey to evict our debt, I was barely making a salary above $40 Grand... but flash forward to today and we've paid off $46.5k! (Stop it, you're making that face again.)

So what changed? In short, it's a simple phrase but in practice it's anything but simple:

"Live like no one else, so that one day you can LIVE like no one else."


Over the next few posts I'm going to introduce you to what that really looks like in my everyday life.

In the next episode: "You want me to do WHAT?!?"

@W



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Suze Orman: Your Loss is Her Gain...

Photo courtesy of Glennia


"I'm proud that I make money, that I work hard, that I've created what I've created. But I can tell you this: I haven't hurt one person getting here." - Suze Orman

Oh really Suze?

I usually don't do this. I usually don't 'go after' someone in the public eye. But Suze Orman has pressed my final button, so I just have to get this off my chest.

Orman is considered to be the most recognizable personal-finance expert in the world. And quite possibly the most polarizing as well.

Now anyone who follows this blog knows that I'm a fan of Dave Ramsey's methods for eliminating debt and managing your finances. Not because I have a 'thing' for Dave, but first and foremost because he uses the Bible as a foundation for the principles he teaches. There is proven truth to what he says... he doesn't sugar-coat it, he doesn't water it down.

Suze on the other hand seems to "play to the crowd" a bit too much for my liking. She wont tell you what you NEED to hear all the time, because it may alienate you from being endeared to her.

I just read an article about her on Time.com called "The Queen of Crisis". I highly recommend checking it out. But I digress...

My biggest problem with Suze is that she's not afraid of credit. She wants credit to be your friend in turning your woes into wealth.

Last week I caught the 2am replay of Oprah. (Please don't ask...) Suze Orman was the guest of honor and she was answering every one's "tough" questions about this economy and their money. Questions like: "We're getting married this summer and we want to spend no more than $50,000. After our expenses each month we have about $500 leftover. How can we afford to make this happen?"

Suze told them that they couldn't afford it, but she then went on to tell them HOW they could afford it!

Oh, and how about the couple that wanted to remodel their kitchen and bathroom by taking out a $76,000 Home Equity Line of Credit (HELOC)? Suze said "Go for it!"

Whaaaa? Excuse me? Have you seen property values lately?

To me this is reckless! While we're facing the worst economic situation in the last 80 years, The world's foremost financial expert is on a show with possibly the widest viewership into the 'average American home' and she refuses to be a voice of reason against the mentality of trying to afford what you cannot afford?! Really? At a time like this?!

In the quote at the start of this post, she says she hasn't hurt one person getting to where she is... but I beg to differ. With advise like the variety she gave on Oprah, I shudder to think how many people she hurt in that hour alone. How many people did she just empower to continue to run their finances into the ground?

Ok, and one last question...

Why does she charge $80,000 per speaking engagement? Is her advice really that valuable? As I said before when it comes to the economy, our loss is apparently her gain.

Till next time,

@W



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Simple Secrets: Understanding CashFlow

Photo courtesy of 'morena7



Cashflow is simply the way money moves (or flows) into and out of your household.



Just as it's not safe to play in a swelling river if you don't know what you're doing, if you don't understand the cashflow dynamics of your financial situation, you will get swept away by the current of your currency. (Admit it, you liked that phrase lol.)



This simple principle is not to be underestimated. For instance, if you and I have the exact same budget and the exact same income to work off of, but only one of us has a grasp on the power of cashflow, our situations will go in very different directions.



One thing that is crucial to learning how to master cashflow, is gaining the understanding that cashflow planning and budgeting are not the same things, although they do work in concert.



Budgeting is telling the money where to go.



Cashflow planning is telling the money when to go.



That's it!



Effective cashflow planning can mean the difference between consistently coming up short each month for a bill, or having enough for that same bill and maybe one or 2 others.



So in a few quick steps I want to give you a template for finding the sweet spots in your cashflow.



First, analyze the due dates for your expenses, especially the problematic ones. Also make sure those due dates are listed on your budget when applicable. Is there a bill being paid at the start of the month, that isn't due until the end? Consider moving or splitting that expense across more than one check. I'll explain splitting more in the following points.



Second, for constant expenses such as gas, food, groceries or blow money, I'd recommend splitting them into equal amounts across the paychecks you receive for that month. For example, if your house brings in 4 checks each month and you have a budget of $200/mo for groceries, split them into $50/check increments.



Third, for items that are constant monthly expenses, but are just too large to pay in one paycheck (like a mortgage or rent) split the total amount into amounts that are more manageable on a check-by-check basis. Allocate more towards the payment amount on larger checks and less on smaller checks .(Say, if the amount per check is not the same, or if you work more than one job.) As the month goes along you will envelope the funds as you build them up to the full payment amount. *Unlike step 2 the goal of this suggestion is not to split evenly across your checks. **This type of method almost always works better if you are already using a Zero-based budget.



Fourth, watch out for expenses that may not happen on a monthly basis like car insurance, smarttag fees, or even oil changes. For these you either want to create a line in your budget that is enveloped towards. Whether you do this on a monthly or per check basis will be up to you. *This can also be done for one-time annual fees such as membership dues - just take the total amount, divide it by 12 and let that be your "monthly" payment amount for that expense.



Fifth, watch out for 'Leaks'. A leak is any seemingly small expense or habit that drains your income over time. A leak can come in the form of anything that you purchase but do not document or budget for. Do you frequently get chips out of the vending machine at work? Or pick up a lotto ticket while pumping gas? Or maybe you decide to get that tabloid on a whim while standing in the checkout line. When you add up how much you've spent on that expense at the end of the month, you'll quickly identify your leaks... and trust me, you'll be shocked.



Like I've said a few times in this post, understanding your cashflow just cant be stressed enough. I hope some of these pointers will help you financially "stem the tide"!



Until next time,



@W




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Deal or No Deal: Part-time Work that Pays

Photo courtesy of cgat

Warning: this post will be very quick and to the point...

Part-time work has always had it's place in our economy. For some it has been a nessescary way of life, but to others it has been an added vehicle to getting "stuff" at a decent discount.

At some point in your life you may have picked up a job at a favorite department store or big box electronic retail chain... y'know just in case THAT jacket goes on sale... or so you can support your video game addiction with some semblance of pride that you earned it.

Now I'm not here to pick on you if you are one who still is working that PT because you want to. But if you are now looking to pick up a second gig because you have to, I urge you to stay away from any place where you could potentially cash in on your employee discount. Alas this means you've gotta find 'work' vs. landing a 'gig'.

If you have a weakness for gadgets then what's the point in taking a job at Best Buy? If your express purpose for getting extra work was to make ends meet, then you'll be setting yourself up to undercut your goals if you do this.

That's why I made the title of this post "Deal or No Deal". You must make up in your mind what type of deal your really going after by picking up that nice little retail opportunity. Is it the kind that gives you the discount on stuff, or the kind that puts you ahead of the game while things are rough? It's key that you don't go into the situation kidding yourself!

This might even mean taking on a job you HATE, or look down on. But dont worry, it'll be good for ya!

Last summer I started considering picking up a side-job in the evenings. The opportunity that I kept coming back to at the time was delivering pizza's (One of Dave Ramsey's prime examples of a Gazelle Intense hustle.) Truth be told, had it not been for the insane gas price wars last year, I would have gladly taken a job slanging pies! Not because I love the work, but precisely because I hated the thought of that type of work. But it would've brought in some steady hustle money to throw at our debt.

I wasnt concerned with whether or not I'd get a discount on the food, I dont even like pizza enough to do it for that reason. And I wasnt exactly thrilled about slapping one of those lighted pizza signs on my car. But I knew that I could basically challenge myself to bring in a certain dollar amount per night in tips, and at the same time call out my own hours in which to bring those tips in. At the time that was a win-win to some degree.

Not shortly after I put aside the thought of delivering pizza's (right around when gas became $4 buck a gallon!) I was given a nice promotion and raise on my FT job. Problem solved! But I still would have had no problem going through with the pizza plan if the raise had never come and gas was resonable.

Part of the reason I'm even writing this post right now is because I may be getting an itch to again look at taking on some extra work. Not because money is tight right now, but because I dont want to wait until it is tight to get my butt out there to defray the cost!

So there ya have it, just a few thoughts from @W on where you should put your focus if you find yourself needing to bring in extra "dough" lol.

Thanks,

@W





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Food Bank: 5 Ways to REALLY Boost Your Food Budget

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You've heard yourself say it a time or two... "I cannot possibly cut anything else out of this budget!" But just humor me by going along with this mental exercise.

The biggest and often most overlooked place for savings is your food expenditures. There is no way around the truth in this statement: "You ARE what you EAT."

If you have expensive tastes, your bills will be too. This can quickly be compounded when you are married with no kids, because you will most likely eat what your spouse eats in the evening. So if he/she has a thing for eating out frequently... good luck!

It is with this in mind that I came up with 5 simply profound ways to impact how much money you spend on food. This applies to both your grocery shopping and dining out. If you even try just 2 of these I promise you'll see a noticeable drop in what you spend.

If you don't have time to read each of the 5 points below, I think I can sum them up in one sentence.

Don't spend money buying things that are available for FREE!

While reading these points ask your self how that statement applies. Except for point #3, just don't do it.

1. Drink more WATER

Water is the cheapest most plentiful food resource we have available to us. Usually it can be found for FREE where ever you may be. If 'public water' is just a little more adventurous than you can handle, invest in a filtration method for your home. They can easily be added t your sink, or you can buy various pitchers from Brita or PUR on the cheap.

Drinking water throughout the day will also help you eat less, loose weight, and stay properly hydrated.

2. Buy less COFFEE

I'm not Anti-$tarbuck$ or anything... but $4? Everyday? Plus a pastry or sandwich or CD....

7-Eleven, Dunkin Donuts, Panera, McDonald's, Seattle's Best, & Bengal Traders (Exxon) are not exempt either... it's a ripoff!

I would venture to say there is not a workplace in America that doesn't offer free coffee and tea. Does it really taste better just cause you paid for it?

3. Stop buying ALCOHOL... period

Literally, It's one of the oldest sayings in the book, (and yes I AM talking about the bible)

"EAT, DRINK, and be MERRY"

It's found in Luke 12:19 (NIV) , but it's not an endorsement for "buying out the bar" as hiphop loves to proclaim. In fact it's the opposite. Let's read it in context:

18"Then he said, 'This is what I'll do. I will tear down my barns and build bigger ones, and there I will store all my grain and my goods. 19And I'll say to myself, "You have plenty of good things laid up for many years. Take life easy; eat, drink and be merry." '
20"But God said to him, 'You fool! This very night your life will be demanded from you. Then who will get what you have prepared for yourself?'

I just have one thing to say about that...OUCH!

If you drink socially, odds are you pay almost as much per alcoholic drink as you do for your entree... and lets face it, who buys just ONE drink? (Whew, I thank God I don't drink alcohol anymore!)

4. Stick with the Small or Medium sized "Value Meals"

Since the start of the year I've really cut down quite a bit on eating fast food. (It helps to mention that I've completely QUIT drinking soda as well, as this truly makes a difference.) Ah but Wendy's still has a hold on me. Sometimes when standing in line, I hear other people order a #6 (mmm the Homestyle Chicken Breast meal...) but they make one mistake. They order the "Great-Big-Ole-Biggie" size for the soda and fries. When they do this it ends up costing nearly $8 bucks! Then later when I'm eating in the restaurant, I see them toss the half-eaten meal in the trash.

Solution: Stick with the small. I only buy one meal from Wendy's now. The "DoubleStack Attack". It's $3.49 and it's more than enough for me to eat as a lunch meal. I just ask them to add lettuce and tomato (which they do for FREE!) and I've got the equivalent of whatever 'Feature' burger they're offering.

Another tip that I'll throw in for free is to not buy a 'meal' at all and just get the sandwich. I do this when I go to Burger King. I get 2 Whopper Jr's, no cheese. (They charge .40 cents per slice!, which after tax drive the cost up a full dollar.) 2 Whopper Jr's = $2.10 and I'm FULL! Need something to drink with it? Wait till you get home to eat it! I know you have juice/soda at home c'mon.

5. Brown bag it

It's unfashionable, It's borderline miserly, and it can be boring. But it save a whole heckuva lot of money! (and time)

The only con, if you can call it one, is that you have to prepare this ahead of time. But it's time well spent, rather than money spent poorly eh?

I apologize I know this post was a bit lengthy, but as I said if you incorporate just 2 of them you'll see improved results.

God Bless ya,

@W

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@ Risk Theater: I'm A Compulsive Shopper...

I saw an absolutely brilliant episode of TRUE LIFE on MTV last night.

The episode was called "I'm a compulsive shopper" and it did a great job of documenting 2 teenage girls who have literally become addicted to shopping! I copied the episode summary so please see it below. I'll also be contacting MTV Networks to ask permission to post the full episode here shortly. It's not up on MTV.com yet but I certainly recommend seeing sometime when it airs on the network. For now here are a few photos from the show*...
All materials are taken from MTV.com*

Full Summary

It's no secret that teenage girls love to shop. Trips to the mall to find that perfect dress or take advantage of a blow-out sale are no oddity among teenage girls and their friends; but what happens when those shopping trips become a little too frequent? For Gabby and Ali, shopping has become so addicting that they are no longer able to lead healthy lives. For these girls, shopping has gone far beyond a form of retail therapy-it is their only way of life.

Gabby is eighteen years old from Queens, NY, and her life is all about what she wears. Her closet is so stuffed with clothes that she can barely see what is in it-but she does manage to find a pair of unworn designer jeans she bought for three hundred dollars with the tags still on. Gabby's mom has multiple sclerosis, so since she has always been unable to make trips to the mall with her daughter, Gabby starting using her parents' credit cards from a very young age. Now, years later, her so called "normal" use of her parent's plastic has turned compulsive, and as a result, she has put her family in about ten thousand dollars worth of debt. In order to support her shopping addiction and pay her bills, Gabby works two jobs and lives from pay check to pay check. Every two weeks simply means more money that she can spend on new clothes and accessories-and for Gabby, that means every last penny. Gabby's father, frustrated with what Gabby has done to the family, demands that Gabby see a therapist, but Gabby refuses to admit she has a problem. And besides, why would she waste a trip into Manhattan to see a therapist when she could be shopping on Canal Street? Things start to look up when Gabby finally decides she wants to start saving money. However, deciding to save money for breast implants is probably not the best solution for curing her compulsive spending habits. Will Gabby ever be able to pay her parents back for the enormous debt she has caused them? And will Gabby ever be able to remove herself from the ruthless cycle of making more money just so that she can spend more money?

Ali is nineteen years old from Columbus, Ohio, and she shops whenever she can-whether or not she has the money. She works hard on her image and figures if she keeps it up she will eventually live up to the likes of Paris Hilton or other pop divas and finally start believing in herself. Ali works the door at a strip club, and unlike Gabby who has to wait two weeks for her next cash flow, Ali bypasses the anxiety about waiting for a paycheck by taking home a nightly wad of cash. However, despite this constant flow of money, Ali still manages to run out of money, and in order to satisfy her "shopping fixes," her boyfriend, Kyle, ends up footing the bill. As a result of her constant need to shop, Ali has let her bills accumulate for the past 4 months-which means a debt accumulation of almost eight thousand dollars. While Ali acknowledges she should pay off her debt, the high she gets after a shopping spree makes it hard for her to change her behavior. Ali starts going to Debtors Anonymous meetings twice a week, and while she would like to think she is changing her behavior, she doubts if she really is-especially after she spends every last penny when shopping for her birthday. Eventually, Rent-A-Center comes and removes all her bedroom furniture which Ali never paid for, leaving Ali's room a cluttered mess of clothes. Despite this reality check, Ali still continues to shop and rack up her debt- now totally almost 15,000 dollars. Will Ali ever realize life is not just about the shopping and purchasing? And will she ever be able to find the money and confidence she needs to get the intensive therapy she recognizes she needs to get her life back on track?

Watch True Life: I'm a Compulsive Shopper to find out what happens to these two girls when they literally shop till they drop.

This show gave me plenty to consider and some ideas for topics to cover this week. I hope you'll make time to check it out.

Thanks fam!

@W

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OPEN GYM...

photo courtesy of susanhardman

Today I thought I'd do something new... open up the floor for whatever personal finance topic you might want to discuss. Got questions on budgeting? Ask away. Need advice on how to get started? I'm at your service.

Feel free to either email me your question or comment, or simply post it yourself in the comments section.

That's all to it, so lets PLAY!

PS: Today only as an added bonus, the first person to hit me back will get a free slurpee on the house! Nah scratch that, free slurpees for everyone!!



@W

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