How much would you pay to use Tumblr each month? Follow @mini_utne
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How much would you pay to use Tumblr each month?

Follow @mini_utne

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(via kiplinger)

Source: Mother Jones

Logic.
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Logic.

See the difference? UPDATE: Some have taken issue with #5, but you’re missing the point. There are necessary student loans. “Unnecessary student loans” refers to those taking out loans for excessive living expenses, going back to school simply because you didn’t find a job right away, or staying in school longer than needed just because you don’t want to enter the real world.
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See the difference?

UPDATE: Some have taken issue with #5, but you’re missing the point. There are necessary student loans. “Unnecessary student loans” refers to those taking out loans for excessive living expenses, going back to school simply because you didn’t find a job right away, or staying in school longer than needed just because you don’t want to enter the real world.

Debt Reduction Methods and Philosophies: Snowball, Avalanche and More

When someone who has accumulated debt across a number of credit cards embarks on the journey to rid himself or herself of this debt, and when that person is generating enough monthly income to cover all expenses and the minimum payments due on all cards with additional funds left over, there are two main philosophies describing the best way to achieve this goal.

I typically recommend the Snowball Method because of the psychological victories along the way, but check out this article for a great description of other ways to pay off your debt.

Turn Off the Faucet

I heard an interesting story this morning and I wanted to share it with you all.

Years ago, mental institutions used a simple test to see if one of their patients was ready to be released.  They had a room with a sink in it and not much more.  They would plug the drain, turn on the faucet, and allow the sink to overflow.

Then, they would ask the patient if they would enter the room with a mop and bucket to clean up the water.  What happened next was the true test.

If a patient walked into the room and turned off the running water before they began mopping, they were deemed to be ready for release.  Sadly, however, many patients would enter the room and begin mopping the floor without turning off the water.  Although they were performing the task that was asked of them, they were unable to easily identify the source of the water—the running faucet.

So many of us have financial issues that are similar to this problem.  We aren’t able to identify the source of the problem, and we find ourselves mopping floor and wondering why we aren’t getting anywhere.

Many personal finance sites will hand you a mop, but my hope is that I can help you find the faucet.

thedailyfeed: Did you know that the average dollar bill is so hard-working, it has a lifespan of only about 18 months? In today’s history page, we bring you the long, winding story of American money. What our early $1 bills lacked in utility, they made up for in color and dramatic graphics. The Bank of Germantown in Philadelphia, for example, released an orange-and-black $1 bill that depicted a group of sailors in a small boat trying to fight off the advances of a polar bear. Other mid-19th-century local bank notes bore portraits of mythological figures, children or even Santa Claus. There was still no national currency when the Civil War broke out in 1861, so Congress approved the issue of $150 million in national “demand notes.” These came in denominations of $5, $10 and $20, and the U.S. government used them to pay for war expenses and the salaries of military personnel. Union bills had distinctive green ink on their reverse side (which contrasted sharply with Confederate currency’s blank reverse side) — and they became popularly known as “greenbacks.”
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thedailyfeed:

Did you know that the average dollar bill is so hard-working, it has a lifespan of only about 18 months? In today’s history page, we bring you the long, winding story of American money.

What our early $1 bills lacked in utility, they made up for in color and dramatic graphics. The Bank of Germantown in Philadelphia, for example, released an orange-and-black $1 bill that depicted a group of sailors in a small boat trying to fight off the advances of a polar bear. Other mid-19th-century local bank notes bore portraits of mythological figures, children or even Santa Claus. There was still no national currency when the Civil War broke out in 1861, so Congress approved the issue of $150 million in national “demand notes.” These came in denominations of $5, $10 and $20, and the U.S. government used them to pay for war expenses and the salaries of military personnel. Union bills had distinctive green ink on their reverse side (which contrasted sharply with Confederate currency’s blank reverse side) — and they became popularly known as “greenbacks.”

Source: thedaily.com

LOL WHAT AN IDIOT
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LOL WHAT AN IDIOT

A Harvard MBA's radical quest to erase his debt

B-school grad Joe Mihalic went on an extreme financial diet to pay down over $90,000 in debt in just seven months and charted his story through an anonymous blogging project.

Where Dollar Bills Come From Every single dollar bill in the world — every $20, every $100, everything — is printed on paper made at one small mill in Massachusetts. That’s been the case for 130 years.
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Where Dollar Bills Come From

Every single dollar bill in the world — every $20, every $100, everything — is printed on paper made at one small mill in Massachusetts. That’s been the case for 130 years.

Source: NPR