Comments on: Personal Finance Isn’t Rocket Science, It’s Self Motivation http://www.pfadvice.com/2007/08/14/personal-finance-isnt-rocket-science-its-self-motivation/ Bridging the gap between saving money and investing Mon, 01 Dec 2008 17:29:39 +0000 http://wordpress.org/?v=2.6.1 By: 114th carnival of personal finance : plonkee money http://www.pfadvice.com/2007/08/14/personal-finance-isnt-rocket-science-its-self-motivation/#comment-90503 114th carnival of personal finance : plonkee money Mon, 20 Aug 2007 15:57:35 +0000 http://www.savingadvice.com/blog/2007/08/14/101690_personal-finance-isnt-rocket-science-its-self-motivation.html#comment-90503 [...] personal finance isn’t rocket science it’s self-motivation @ savingadvice [...] [...] personal finance isn’t rocket science it’s self-motivation @ savingadvice [...]

]]> By: The Simple Dollar » Carnival of Personal Finance #114 http://www.pfadvice.com/2007/08/14/personal-finance-isnt-rocket-science-its-self-motivation/#comment-90449 The Simple Dollar » Carnival of Personal Finance #114 Mon, 20 Aug 2007 13:36:29 +0000 http://www.savingadvice.com/blog/2007/08/14/101690_personal-finance-isnt-rocket-science-its-self-motivation.html#comment-90449 [...] Personal Finance Isn’t Rocket Science, It’s Self Motivation (@ saving advice) [...] [...] Personal Finance Isn’t Rocket Science, It’s Self Motivation (@ saving advice) [...]

]]> By: thewalletsaver http://www.pfadvice.com/2007/08/14/personal-finance-isnt-rocket-science-its-self-motivation/#comment-87967 thewalletsaver Thu, 16 Aug 2007 07:53:58 +0000 http://www.savingadvice.com/blog/2007/08/14/101690_personal-finance-isnt-rocket-science-its-self-motivation.html#comment-87967 I agree that there is psychological factor to money. One of the things that I had to figure out was the difference between "wants" and "needs". I agree that there is psychological factor to money. One of the things that I had to figure out was the difference between “wants” and “needs”.

]]> By: Personal Finance Coach http://www.pfadvice.com/2007/08/14/personal-finance-isnt-rocket-science-its-self-motivation/#comment-87721 Personal Finance Coach Wed, 15 Aug 2007 19:49:21 +0000 http://www.savingadvice.com/blog/2007/08/14/101690_personal-finance-isnt-rocket-science-its-self-motivation.html#comment-87721 The 95% percent that I included was published in Smart Money April 2001. In went on to say that 1% is wealthy with a net worth of $5 million 4% is financially independent with a net worth between $1 million to $4.9 million 41% Still working 54% Dead Broke Kind of out dated but most of the literature is talking about the shrinking middle class. So dont numbers wont be the same. I will try and look for some up to date info. Hope this helps out. The 95% percent that I included was published in Smart Money April 2001.

In went on to say that
1% is wealthy with a net worth of $5
million
4% is financially independent with a
net worth between $1 million to
$4.9 million
41% Still working
54% Dead Broke

Kind of out dated but most of the literature is talking about the shrinking middle class. So dont numbers wont be the same. I will try and look for some up to date info.

Hope this helps out.

]]> By: Personal Finance Coach http://www.pfadvice.com/2007/08/14/personal-finance-isnt-rocket-science-its-self-motivation/#comment-87720 Personal Finance Coach Wed, 15 Aug 2007 19:42:22 +0000 http://www.savingadvice.com/blog/2007/08/14/101690_personal-finance-isnt-rocket-science-its-self-motivation.html#comment-87720 I didnt mean to ruffle anybodys feathers with that stat. I found it in a Smart Money Issue.Dont remember the issue I will have to loook in my archives. As far as credit card debt. Debt stacking is the best alternative to reducing and eliminating debt. The most damaging billing cycle is the two cylce billing with purchases. You get hit with interest charges twice a month. I didnt mean to ruffle anybodys feathers with that stat. I found it in a Smart Money Issue.Dont remember the issue I will have to loook in my archives.

As far as credit card debt. Debt stacking is the best alternative to reducing and eliminating debt. The most damaging billing cycle is the two cylce billing with purchases. You get hit with interest charges twice a month.

]]> By: Jeffry http://www.pfadvice.com/2007/08/14/personal-finance-isnt-rocket-science-its-self-motivation/#comment-87625 Jeffry Wed, 15 Aug 2007 13:16:07 +0000 http://www.savingadvice.com/blog/2007/08/14/101690_personal-finance-isnt-rocket-science-its-self-motivation.html#comment-87625 I agree with you pfadvice, but I was wondering in particular with folks that are deep in credit card debt, what are their options? One option, I think, would be to use <a href="http://www.personalfinanceresources.com/3/pay-off-debt-with-debt-stacking" rel="nofollow">debt stacking</a>, as most Americans don't seem to have a real grasp of how compound interest, especially daily compound interest (credit cards) really works. I agree with you pfadvice, but I was wondering in particular with folks that are deep in credit card debt, what are their options? One option, I think, would be to use debt stacking, as most Americans don’t seem to have a real grasp of how compound interest, especially daily compound interest (credit cards) really works.

]]> By: ben http://www.pfadvice.com/2007/08/14/personal-finance-isnt-rocket-science-its-self-motivation/#comment-87536 ben Wed, 15 Aug 2007 08:28:48 +0000 http://www.savingadvice.com/blog/2007/08/14/101690_personal-finance-isnt-rocket-science-its-self-motivation.html#comment-87536 If you are going to throw out random percentages, you need to be able to back them up or at least cite the source. I think I'm on pretty safe ground believing that far more than 95% of people are doing fine with their finances. While many aren't, throwing out meaningless numbers like that serves no purpose at all. If I am wrong, I will apologize when you show me the citation where you got the 95% statistic from. If you are going to throw out random percentages, you need to be able to back them up or at least cite the source. I think I’m on pretty safe ground believing that far more than 95% of people are doing fine with their finances. While many aren’t, throwing out meaningless numbers like that serves no purpose at all. If I am wrong, I will apologize when you show me the citation where you got the 95% statistic from.

]]> By: Personal Finance Coach http://www.pfadvice.com/2007/08/14/personal-finance-isnt-rocket-science-its-self-motivation/#comment-87530 Personal Finance Coach Wed, 15 Aug 2007 08:11:03 +0000 http://www.savingadvice.com/blog/2007/08/14/101690_personal-finance-isnt-rocket-science-its-self-motivation.html#comment-87530 Money is psychological. The spending and saving are alot of times governed by pleasure spending and the pain of saving and delaying immediate gratifaction. Most Americans like 95% have not learned to master themselves and use common sense. Thats why credit card and fnnacial instituitions are having a field day... Money is psychological. The spending and saving are alot of times governed by pleasure spending and the pain of saving and delaying immediate gratifaction.

Most Americans like 95% have not learned to master themselves and use common sense. Thats why credit card and fnnacial instituitions are having a field day…

]]> By: pfadvice http://www.pfadvice.com/2007/08/14/personal-finance-isnt-rocket-science-its-self-motivation/#comment-87437 pfadvice Wed, 15 Aug 2007 04:02:25 +0000 http://www.savingadvice.com/blog/2007/08/14/101690_personal-finance-isnt-rocket-science-its-self-motivation.html#comment-87437 I believe that people should do their very utmost to pay off their obligations. That being said, there are times when bankruptcy may be an option. Unfortunately the answer is never black and white and many things will depend on your particular circumstances as to whether bankruptcy is the best option. I believe that people should do their very utmost to pay off their obligations. That being said, there are times when bankruptcy may be an option. Unfortunately the answer is never black and white and many things will depend on your particular circumstances as to whether bankruptcy is the best option.

]]> By: Jeffry http://www.pfadvice.com/2007/08/14/personal-finance-isnt-rocket-science-its-self-motivation/#comment-87389 Jeffry Wed, 15 Aug 2007 01:58:42 +0000 http://www.savingadvice.com/blog/2007/08/14/101690_personal-finance-isnt-rocket-science-its-self-motivation.html#comment-87389 I think the writing it down part, in addition to involving family and friends (accountability) are good steps to keeping unecessary expenses to a minimum. But what if a person is so deep in debt, they cannot escape? Is bankruptcy their best bet? I think the writing it down part, in addition to involving family and friends (accountability) are good steps to keeping unecessary expenses to a minimum. But what if a person is so deep in debt, they cannot escape? Is bankruptcy their best bet?

]]>