IS IT LOGICAL TO HAVE A MORTGAGE?

When someone secures a mortgage on their residence at a reasonable interest rate, what do they think about? Most people would say that they are glad they got a decent interest rate and long for the day when it will be paid in full and they will own their house free and clear and fulfill a core element of the American Dream. Some people may have the means to pay their mortgage off in 15 years or...

Read More

A Lucky Surprise

“Congratulations, you have just won $285,000 in the Publisher’s Clearing House Sweepstakes,” an unfamiliar voice announces, as I pick up the phone the other morning. “Oh, really, I say, somewhat skeptical because I don’t remember entering a raffle, but curious. “Who wouldn’t want a $285,000 surprise, particularly in this economy and right after some hefty Christmas spending,” I...

Read More

A Psychologist’s View of “Frugality Fatigue”

Remember three years ago, December, 2008? The world’s financial system was on the brink of catastrophic breakdown. The major stock markets spiraled out of control. Suffering from loss of investment savings, loss of job and loss of confidence, we Americans ran for the hills. As the holiday season approached few had the desire or the disposable income to spend on gifts or expansive plans to...

Read More

Financial Therapy Association 2nd Annual Conference

                                    On September 11-13, 2011, financial planners, psychologists, social workers and academics met in at the University of Georgia’s College of Family and Consumer Services to share ideas about how to help individuals and families act more effectively with money. Papers ranged from presentations about how anxiety affects money...

Read More

Interview on CBS News

...

Read More

Vacation Budgeting—and Blowing the Budget on Vacation

I’m just back from a 10-day trip through Italy as part of a choir tour. We started in Venice, headed for Florence, then Spoleto (in the Umbrian region of Italy) and ended in Rome. Over the course of our trip, the exchange rate from dollars to Euros varied between $1.48 US to $1.42. It wasn’t very friendly to my American budget, so I made the most of my dollars by getting Euros from the ATM...

Read More