College Costs

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 289-October 16 “Too caustic? To hell with the cost, we’ll make the picture anyway.”—Samuel Goldwyn According to census figures, here are the average annual earnings of Americans, based on their level of education: Education Level Male Female* No high school diploma        Male: $16,818    Female: $8,861 High school diploma              Male: $25,453   Female: $13,407 College diploma                      Male:  $47,126   Female:  $26,401 Think it might be a good idea to go to college? College graduates make nearly double the income of high school graduates who don’t go to college. If you … [Read more...]

Give and It Will Be Given to You

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 188-July 7 “Help thy brother’s boat across, and lo! Thine own has reached the shore.”—Hindu Proverb I sat hunched in my chair at my computer, going over my Accounts Receivable. Sometimes I will offer clients a billing system based on regular monthly payments. Most of the time it works out well, but other times, people just don’t pay as they had promised. On this particular morning, I reviewed two accounts that were more than a year old. Now it was time either to write a strong demand letter with a threat of legal action or to turn the accounts over to a collection agency. But as I sat there neither … [Read more...]

Home Mortgages

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 176-June 25 “The old woman triumphantly announced that she had borrowed enough money to pay all her debts.”—P.L. Lord Anyone who has ever bought a home has been dismayed to find out how interest is amortized over the life of the conventional thirty-year mortgage. During the first fifteen years of the loan, the majority of the loan payment is interest. In fact, for the first five years, it’s almost all interest. It’s not until the twentieth year of the mortgage that the monthly payment is even half interest and half principle. Not to mention the fact that after paying for thirty years, depending on the … [Read more...]

Home Ownership

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 175-June 24 “The first payment is what made us think we were prosperous, and the other nineteen is what showed us we were broke.”—Will Rogers Owning your own home is one of the American Dreams. But it seems to me that many people scrimp and save to buy a home and then are “house poor”—they can’t go anywhere or do anything because all their available income is going to pay their mortgage! In Rich Dad, Poor Dad, Robert Kiyosaki states he doesn’t even consider a home an asset. He says it’s because there are so many other attendant expenses that go with home ownership that it is a drain on most people’s … [Read more...]