All Posts Tagged With: "living within your means"

With the economy faltering, more Americans are paring down their spending. At the least, Americans are starting to buy only what they can afford. Could the next few years become the age of Americans saying good bye to credit cards and living within our means? And if so, is life without consumer credit a fiscal utopia?

Consumer credit is like a passionate romance that sizzles, and then fizzles. Consumers are lured to the relationship with large credit lines and promises of being able to “afford” life’s luxuries, today. For a while, life is grand. Borrowers have no need for a budget, as minimum payments are low and credit lines are always available for unexpected expenses or if ends don’t meet, as they inevitably won’t. Consumers are enamored with their credit, and creditors love their consumers, unwittingly racking up balances that will make creditors a fortune.

Sooner or later, the honeymoon ends. Borrowers max out their credit lines and minimum payments are not so minimal anymore. Life gets tough, and consumers begin to resent the credit they so recently embraced. Continued

Yes, I know New Year’s was two weeks ago, but I just got back from a month of travel and I’m ready to tackle my finances in 2008. Here are 10 things I’m doing (and you can also) to ensure a prosperous year ahead. Continued

Whether you want to start saving, add to existing reserves, or beef up an already brawny bank account, here are 31 savings tips to give you a month of tightwad tactics. Continued