3 Simple Ways To Live The Frugal Life

These past few years we have seen a high level of unemployment, countless numbers of foreclosures, and many American citizens hitting hard times.  While many people are learning how to make ends meet, there can often be a struggle with how to have fun and live frugally at the same time.   Since many people define frugally different, I think about the term frugality by using phrases such as ‘economical’, ‘avoiding waste’, and ‘careful and diligent in the use of resources’.   Being frugal is about making good business decisions rather than the popular image of being cheap.   If you are thinking about entering the frugal life, here are three ways to begin thinking the right way about smart money decisions. Don’t be the first adopter of something ‘new’ – One really easy way to blow a bunch of money is have to be the first to own a new product when it hits the market place.    A good example of this ...

Read More →

What will credit downgrade mean to you?

I waited a week to pass to the let the media frenzy subside around the recent credit downgrade.    All we needed was Tiger Woods to miss the cut at the PGA Championship this past week to make the credit downgrade seem like any other TMZ story of the week.    The Standard & Poor’s rating agency downgraded the United States Credit Rating from Aaa to Aa+.    While the other major rating agencies Moody’s and Fitch have left us at the very highest level, you have seen what the recent downgrade has done to the stock market making it look like a Six Flags roller coaster ride. As painful as this decision was (and it is kind of so 2011 media to begin doing an investigation into whether the math by the S & P was correct) to our country, we desperately needed a wake-up call.    I run a business and I continue to wonder how many politicians have ever even had ...

Read More →

Estate Tax To Stay At 3.5 Million?

Now that the elections are done, there are some really large looming financial questions that the new mix of Republicans and Democrats need to decide before the year ends.  As the band Rush wrote in one of their songs, “If you choose not to decide, you still have made a choice”.  It would be great to see some movement made on this estate tax issue so we don’t see some faux Billy Crystal actor throw momma from the train before the end of 2010. For those that don’t remember where the estate tax was at before 2010, in 2009 the exemption was 3.5 million with a 45% tax above the 3.5 million threshold.  For a couple, this meant roughly a 7 million dollar exemption.  With only 3 out of every 1,000 estates (source: www.wsj.com) having an estate above this 7 million dollar threshold, the level set in 2009 only affected a minute number of American citizens. Basically, there are three ...

Read More →

Text HELP! For Detroit

There isn’t a day that passes by now where I don’t see a continued commercial for raising money to save Haiti. I feel awful for the people of Haiti over this terrible tragedy, but I keep coming back to the major issues we have going on in our own country. Americans donated $150 million in the first four days after the Haiti earthquake, according to the Chronicle of Philanthropy. Donations to Hurricane Katrina efforts in 2005 only totaled $108 million in the first four days after the disaster, the chronicle said. Who knows exactly how much money we have donated between the U.S. Government and American citizens, but doesn’t anybody find it strange that we raise more for other countries than our own? We don’t know the exact numbers, but one study had the unemployment rate last year in Detroit at 28.9% (Source: The World Newser August 28th, 2009). At those levels of unemployment, you ultimately have a tidal wave ...

Read More →