Going Shopping vs. Going Spending

Updated insider information by Chellie Campbell, author of “The Wealthy Spirit: Daily Affirmations for Financial Stress Reduction” 178-June 27 “To pretend to satisfy one’s desire by possession is like using straw to put out a fire.”—Chinese Proverb A major “Money Malady” is “spending bulimia,” which is a habit pattern of buying things out of impulse, without regard to chosen spending priorities. For some, the buying habit is a quick fix to emotionally lift their spirits—it’s fun to buy a new outfit, a new golf club, or a new car and then have the satisfaction of the complimentary “oohs” and “ahhs” from other people. Some buy presents for others as a way of buying love, the emotional high is seeing someone else excited over a new … [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...]