Archive for the ‘budget’ Category

Boomers Willing to Wait to Get What They Want and Say They Need

Tuesday, August 10th, 2010 by editor

The quest for “the good life” continues to drive Baby Boomers to sacrifice today, so that they can enjoy the finer things tomorrow according to a MainStay Investments’ Boomer Retirement Lifestyle Study. A majority (76 percent) of Boomers surveyed say they are willing to spend less now to invest for a more comfortable lifestyle in the future. Read the rest of this entry »

Is “strategic default” for you? Would you walk away from your home and mortgage responsibilities?

Sunday, June 20th, 2010 by editor

Moral dilemmas are not easy. They make us get in touch with what’s most important to us and how we will make choices based on our values of right and wrong.

As a psychologist specializing in money management, I have worked with children and families on this issue and have been fascinated with how people of all ages justify what they do. The psychologist that is the grandfather of psychological studies on morality and moral judgments is Kohlberg. What he learned over the years is that there are stages of moral development and critical thinking which allow people to make appropriate decisions for themselves, their needs and causes in relation to what’s good and appropriate for society at large. He learned that there were people who made decisions based on the absolute of right and wrong, but many others who used their own barometer of what was right and wrong for them. People will do what they feel they need to do and justify it according to what was most important in their individual situation, but not all. So just like so many other variables in life, we humans differ on the morality scale as well. Read the rest of this entry »

New Year's Money Resolutions: How to Succeed in Keeping Yours

Tuesday, January 5th, 2010 by admin

Over the many decades of giving advice on how to succeed in keeping New Year’s resolutions, I think about how I can make the advice unique in some way so that more people heed the advice and succeed in keeping their resolutions. But I ultimately come back to the advice that I know works when we take ourselves and our desires for change more seriously, so we walk our talk so to speak. Read the rest of this entry »