Thought for today: Many employers encourage their workers to “unplug” from work during their vacations, to rejuvenate. Even though we give coworkers clear instructions and emergency numbers to call us, underearners can find it difficult to let go of work, unless we fill the void with something. When taking a vacation, why not fill some free time with a “Higher […]
Continue reading →Thought for today: After we stabilize our spending, and have been fully tracking and reviewing our numbers for a while, we will want to begin setting aside a small amount of money toward a prudent reserve fund, and toward debt repayment. The amount we put aside is not important – what matters is that we […]
Continue reading →Thought for today: Secured debt is debt that’s backed by collateral, such as a house, car, or other asset. When a person borrows against collateral, they guarantee that they will turn over this property to the lender if they default on payments. Members share: “I once took out a home equity loan to build an accessory apartment […]
Continue reading →Thought for today: Debt consolidation companies have been known to charge up to an extra 60% of a person’s total debt, on top of an interest rate sometimes 7 percentage points or more above prime. How are they able to charge such exorbitant fees? Fear of talking with creditors is the main reason these businesses […]
Continue reading →Thought for today: What happens after bankruptcy is over? The saying “If nothing changes, nothing changes” may apply. A member shares: “I was a kid when my family declared bankruptcy. Credit card debt for business expenses had become untenable. Payrolls couldn’t be met for their business. IT was a mess of confusion and angry phone […]
Continue reading →Thought for today: History is strewn with stories of people denying their need to change, resisting to the end. Dictators have fought to the last breath. Alcoholics sometimes need to lose everything to try recovery. What is it about denial that is so blinding? Embarrassment, spurred on by pride, keeps us in denial. It’s embarrassing to […]
Continue reading →Thought for today: Intuition is something we need to listen to – the “gut reactions” that come from our unconscious, pre-frontal cortex brains. How we integrate intuition has a lot to do with how successful we are. Emotional intelligence relies on intuition. We intuit a person’s needs, and reach consensus on an issue. Intuition is a spiritual connection to help us […]
Continue reading →Thought for today: As underearners, some of us find it hard to take vacations. The time off seems like a waste. It costs too much money and time. It feels extravagant. Some of us preferred vacations separated from family. Guilt, rooted in a childhood where time off was never enjoyed, sets today’s agenda. Circumstances leave us exhausted and unable […]
Continue reading →Thought for today: After the housing bubble burst, many homes were worth less than the money owed on them to the bank. In that market, many people sold at a loss, or simply walked away from their properties. DA helped us change the patterns of behavior that had led to unnecessary risk taking around money. Once we accepted the […]
Continue reading →Thought for today: A true compulsive debtor is powerless over the first credit card charge. There is never enough credit to satisfy the appetite. A member shares: “I work for a department store chain that offers an employee discount if we use the store’s credit card. I always purchased on the card but then accumulated interest and late penalties […]
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