Thanks to Nickel for pointing out that Maxed Out has been released on DVD. This is the next movie I’m watching. Here is the trailer for the movie: Here is a 10 minute interview with James Scurlock (Creator of Maxed Out):
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Woman With 9 Maxed Out Credit Cards Wins Lottery
The first thing I thought about when I read this story is, “That million isn’t going to last long”. This woman found a $10 bill on the ground and then used it to buy lottery tickets. She’s glad she did because she won a $1 million dollar jackpot. The article says that she has 9 maxed out credit cards and $8500 in debt from an
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Intelligence Does Not Equate To High Net Worth
I have posted about this subject before but I recently read an article that did a good job of explaining this. A professor got access to a database of people that have been participating in a study for the last 25 years. It started when they were in college and now these people are in their forties. While the original study didn’t cover finances, it
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Pay Off Your Mortgage in 5, 10, 15 or 20 Years
The idea of not having a mortgage payment and truly owning my house makes me salivate like a dog standing over a nice medium rare T-bone steak. I’ve been prepaying on my mortgage for a few years to knock some of the interest off and pay my home off early. I’ve taken a very unscientific approach to paying the mortgage off early. I’ve simply added
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Roadshow That Teaches The Basics About Finances
I just read about a roadshow that teaches kids the basics about money. I suppose it’s a start. My preference would be to have a full curriculum in our schools to teach younger kids about personal finance. Since we don’t have that, I guess we have to be glad that at least someone is making an attempt to teach our children about money. This program is
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Mortgage Company Just Dying To Give Us More Money
I guess it’s a sign that it’s getting harder for the banks and mortgage companies to find someone to loan money to. I continue to get more letters from various lenders telling me that I am qualified to either refinance my home mortgage with them or take equity out of my home. The latest is from my actual mortgage company. The top of the page
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You Know You Shouldn’t Buy A House When….
You look in the couch cushion for a down payment Anything at your workplace is deep fried You know any bill collector on a first name basis Your car payment is more than 30% of your take home pay You are on a payment plan at the local payday loan office Your credit card minimum payment is more than 15% of your take home pay
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Another Couple Strangled By Bad Mortgage Debt
I read a great article in the local paper here about a couple that has found themselves in a high stress situation. They simply can’t afford their home. They have an 80% value mortgage and a 20% “extra” loan for their home. Due to their credit card debt, they couldn’t get a standard mortgage so they found someone that offered a solution for them. House
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Pay Off The House In Five Years?
I was talking to a friend of mine and she was saying that she and her husband were trying to decide whether they should try to pay off their house in five years or not. They currently have a 15 year loan and have an excess $3K plus per month that could be used to pay down their mortgage. They also have a couple of kids that are
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Like Minded Individuals – Critical To Your Success
We’ve all heard the phrase, “Keeping up with the Jones’”. If you don’t know what that means, it’s really quite simple. Basically it is a phrase used when one person compares what they have to what someone they associate with has. That sounded a little confusing. Let me give you an example: Bob lives at 123 Main Street. From the outside, it looks like Bob
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