Personal Finance and Investing

There is a lot of information in the news every day about programs like the government’s mortgage modification program. The program is intended to give consumers an opportunity to lower their mortgage payment by changing the terms. The program was put into place during the recession because many homeowners found themselves either unemployed or with mortgage payments that did not reflect falling house prices.

The whole point of the government modification program and the programs offered by a variety of financial institutions is to keep people in their homes. But is that always the right decision? T

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Many consumers use credit cards as a way to secure money for a wide variety of things, from home improvements to cars. Given the low interest rates and attractive terms offered by many credit card companies, particularly for individuals with prime credit, it is no wonder that many people turn to credit cards instead of personal loans.

However, is credit card debt really the same as a personal loan?

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Unless you’ve been struck deaf and blind over Christmas, you’ll be aware that the country’s gyms have launched their annual attack on your post-holiday flab.

The evil forces behind corporate gyms know that the dark days of January are when we all pledge to get slim and fit, so that’s when they start advertising with a vengeance. But don’t get sucked in.

The average gym membership in 2009 was £442 according to Mintel – that’s around £37 a month. So if you only go twice a month you’re paying £18.50 a session, and no gym is fancy enough to justify that. There are plenty of ways to lose weight without your wallet getting slimmer.

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One of the hardest things to change in life is your belief system. We all believe we can’t cut back on our income, until it is forced upon us by outside forces. If you have ever tried to cut back on any vices; you already know that once your mind has been made up it will rebel like a bratty out of control 2 year child if you try to change it! And that is the way that it is with our lifestyles. To tell yourself that you are going to be living on less money is just asking for an inner rebellion, so you might want to rephrase it and tip toe a bit before you can fully comprehend the proposition. 

Once you have gotten over the shock of how much different your life will be on a lower income, you can start to come to terms with the acceptance of the actual reality of it all.

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