Friday, February 05, 2010

By 

James W. Stone

Do you use a Debit Card? Is it any better than a Credit Card? Do you still get hit with bank fees on a Debit Card? What's this all about? We see a lot more people using debit cards today than we did just five years ago. Some people choose to use a debit card as a step toward living debt-free. For others, the choice might have been made when the bank closed out their maxxed-out credit card. Still others might not have given it any thought at all. For them, the card was handed to them when they opened their checking account. It was an ATM card that was also a debit card. The bank might have called it a check-card.

The big difference between a CREDIT card and a DEBIT card is that your debit card is tied to your checking account or some other account that actually holds money. But your credit card is tied to an account that seldom, if ever, has any money in it. Instead, it is tied to an account that keeps track of how much money you owe it — a line of...   >>MORE

Friday, January 29, 2010

By 

James W. Stone

Managing your life is pretty easy when everything is going the way you expected it to. But there are times when the unexpected event requires a quick response on your part. Are you prepared for the unexpected?

I think we can agree that unexpected things do happen. But if you are prepared, you have the ability to rebound and steer clear of further damage. I liken this to a car crash. To give ourselves the best chance of maintaining control when driving, we are taught to keep both hands on the steering wheel, drive within posted speed limits, don't follow too closely, and maintain our car in good mechanical condition. Let’s say you are driving and suddenly a large animal jumps out from behind a bridge support and crashes into your car. If you are prepared and in control of your car, you will still hit the animal but that will probably be the worst of it. If you’re not prepared and not in control, the situation can get worse. You might hit another car or go off the road and...   >>MORE

Friday, January 22, 2010

By 

James W. Stone

ARMSV7727TTA
Many of us give up on our New Year's resolutions somewhere between January 2 and the middle of March. After all, how seriously should we take this annual game we play with ourselves?

If you've already broken one or more of the resolutions you made for 2010, I'm pretty sure your promise to change wasn't based on the four features described in this article. Why not look at what you said you were going to do and try again? Just because you broke a resolution isn't an excuse to forget about it and live like it was last year. There's still a lot of this year left for good behavior.

And that, my friend, is the purpose for writing this article. I want you to know how to make a resolution you can keep. Why not review your resolutions and see if they have these four features?

First, define the resolution in ways that can be measured. If you say you are going to become more active in a local charity, identify some steps...   >>MORE

Friday, January 15, 2010

By 

James W. Stone

The first of the year brings great opportunities to study how you spend money and to make plans to improve your game. One opportunity comes when you look at debt from your holiday shopping experience.

In January, you will be getting your credit card statements with a summary of all the purchases you recently made without paying cash. How will you deal with this situation? If you say , "That's fine, it's just what I expected. I have the money to pay the total balance. Now, write the check. Done!" — Well, if that's your reaction, you are in great shape. But, if the credit card statement leaves you wondering how your will pay for it, and how to manage your minimum payment, you need to do something to improve the way you handle shopping, spending, and paying your bills.

I call this an opportunity, because the information available to you right now doesn't present itself so clearly throughout the rest of the year. If you look at only your credit card statements that...   >>MORE

Friday, January 08, 2010

By 

James W. Stone

If I were a retail merchant and had inventory on my shelves during the first week of January, I would want to sell it. No different from any other day my store would be open — I want to make sales. That's what stores do to stay in business and turn a profit for their owners. But selling during the month of January is a little bit different than other times of the year.

Right after the holidays, customers have been in a "shopping" mode for a month. These customers have been hovering over certain items waiting for the price they felt offered them a bargain deal. Although they needed to buy gifts in time for the holidays, they developed a certain stimulus/response behavior to the word "SALE." Just like Pavlov's dogs salivated when the dinner bell was rung, when you mention "sale" in January, customers start to reach for their wallets.

Merchants have been in a "selling" mode for that same month. They knew they had to fill the shelves for the seasonal "SURGE" of buying that...   >>MORE