Link-Love #7

1-linklove

Time to share some more great posts I found while crawling the web these last few weeks;

Check out this interesting tidbit;  Sex versus Cash, Happiness compared at Realized Returns [removed outdated url February 25, 2014]

Labelling debt to make it more palatable on Watson Inc.

Send your congrats over to Frugal Babe; It’s A Boy!

Get thinking about growing your own goodies this summer over on Sustainable Life Blog  with Green Your Summer: Start A Garden

Do the Amish pay taxes? Interesting question, check out the answer on Frugal Confessions.

And check out this clever way to fight telemarketers on Consumerist.

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9 Comments

  1. Watson Inc.'s article on "labeling debt" provides an interesting take on why it's dangerous (or downright wrong) to differentiate between "good debt" and "bad debt." But I think it leaves out a TON of variables. I, for one, am not a fan of the cut and dry notion that ALL DEBT IS EVIL! DOWN WITH DEBT! Unfortunately, it's a necessary evil, and one's focus should be on ways to mitigate this necessary evil. (And if one can live entirely debt-free, as Watson Inc. suggests, by golly, one must be leading a very painful, uneventful, uninteresting life. But I digress.)

    One thing Watson Inc. mentions that I can relate to is student debt (and I tend to disagree that it can be avoided completely given rising tuition costs, unless the 'rents or the government are footing the entire bill, in which case la dee da). If one cannot avoid going into debt as a result of getting an education, then there needs to be some serious soul searching and thought devoted to one's return on investment down the road before taking on any financial assistance for education. For example, if Jane Doe wants to rack up $40,000 – $70,000 in debt to chase her dream of studying undergraduate and graduate level philosophy at the most reputable institution, well … unfortunately, philsophizing doesn't pay a heck of a lot in practice these days and Jane might find it hard or nearly impossible to repay those student loans once she has her diploma in hand. On the other hand, if her brother John wants to become a medical doctor and save lives, but is forced to go $100,000+ in debt to do so (and seriously, who can pay for medical school on their own???), he's going to be in much better financial shape to start paying down that student debt after 8 or 10 years of higher education. And, you know, who can fault someone for loading up on debt as a means to save lives one day …

    I can't stand it when people try to argue that DEBT IS THE DEVIL! or that DEBT IS A CATALYST TO FINANCIAL FREEDOM! AND THAT'S THAT! It's such a subjective area and everyone has their own reasons, be they good or bad, for racking up debt. In the end, it's the return on that leverage that one must consider. If the expected ROI is 0% or in the negative, then it's probably not the wisest idea to ask the bank for a loan. But if the expected ROI is way in the positive territory, with long-term social side benefits to boot, then I say bring it on.

    • Well I somewhat disagree with you on the point that debt is a necessary evil, I just don't like that saying because debt can be avoided in most cases but I do agree with you that not all debt is bad. I'm cool with having a mortgage though ultimately I prefer to be completely debt-free. But that's the type of person I am.

      One of the main things I am struggling with in my life (that probably shines through my posts a bit) is cognitive dissonance, my actions and reasoning in the past haven't been representative of what I have truly felt. I feel a need to become FREE and ultimate freedom for me will be no strings tying me down, no mortgage, no debt. It IS such a subjective area… everyone does it differently. Hehe, my debt-free life ultimately won't be painful or uneventful, that's the reason I want to become debt-free… ultimate freedom to do what I want.

      I also agree with you that looking at ROI is quite important, I'm shaking my head at the amount of people I know that have taken four year arts degrees, then take a two year college diploma for the thing they really want to do… it doesn't make ANY sense to me! Then paying 6 years worth of student loans for a job that you only needed two year for… myeah….

    • We are debt free except for our home which we are due to close on this month. We have been debt free for 10 years. My hubby & I are both self elymoped & when our home caught fire & burned 2 years ago, we lost our only way of making a living (we both worked from home). We were homeless & income-less for 5 months. Had we had any payments to make outside of our groceries, etc. we could not have made it. It’s worth it, guys. It’s a pain to cut things back & not get the stuff you want when you want it. I make our laundry detergent from scratch, we use coupons (massive amounts of coupons), we combine trips to town to save gas, we barter services (I am a photographer & often barter for haircuts & even dentist work.) If you focus on away to make it happen, you’ll find a way. If you say Woe is me, I’ll never be able to get out of debt. then you won’t. Whether you think you can or whether you think you can’t, you’re usually right.

  2. Watson Inc.’s article on “labeling debt” provides an interesting take on why it’s dangerous (or downright wrong) to differentiate between “good debt” and “bad debt.” But I think it leaves out a TON of variables. I, for one, am not a fan of the cut and dry notion that ALL DEBT IS EVIL! DOWN WITH DEBT! Unfortunately, it’s a necessary evil, and one’s focus should be on ways to mitigate this necessary evil. (And if one can live entirely debt-free, as Watson Inc. suggests, by golly, one must be leading a very painful, uneventful, uninteresting life. But I digress.)

    One thing Watson Inc. mentions that I can relate to is student debt (and I tend to disagree that it can be avoided completely given rising tuition costs, unless the ‘rents or the government are footing the entire bill, in which case la dee da). If one cannot avoid going into debt as a result of getting an education, then there needs to be some serious soul searching and thought devoted to one’s return on investment down the road before taking on any financial assistance for education. For example, if Jane Doe wants to rack up $40,000 – $70,000 in debt to chase her dream of studying undergraduate and graduate level philosophy at the most reputable institution, well … unfortunately, philsophizing doesn’t pay a heck of a lot in practice these days and Jane might find it hard or nearly impossible to repay those student loans once she has her diploma in hand. On the other hand, if her brother John wants to become a medical doctor and save lives, but is forced to go $100,000+ in debt to do so (and seriously, who can pay for medical school on their own???), he’s going to be in much better financial shape to start paying down that student debt after 8 or 10 years of higher education. And, you know, who can fault someone for loading up on debt as a means to save lives one day …

    I can’t stand it when people try to argue that DEBT IS THE DEVIL! or that DEBT IS A CATALYST TO FINANCIAL FREEDOM! AND THAT’S THAT! It’s such a subjective area and everyone has their own reasons, be they good or bad, for racking up debt. In the end, it’s the return on that leverage that one must consider. If the expected ROI is 0% or in the negative, then it’s probably not the wisest idea to ask the bank for a loan. But if the expected ROI is way in the positive territory, with long-term social side benefits to boot, then I say bring it on.

    • Well I somewhat disagree with you on the point that debt is a necessary evil, I just don’t like that saying because debt can be avoided in most cases but I do agree with you that not all debt is bad. I’m cool with having a mortgage though ultimately I prefer to be completely debt-free. But that’s the type of person I am.

      One of the main things I am struggling with in my life (that probably shines through my posts a bit) is cognitive dissonance, my actions and reasoning in the past haven’t been representative of what I have truly felt. I feel a need to become FREE and ultimate freedom for me will be no strings tying me down, no mortgage, no debt. It IS such a subjective area… everyone does it differently. Hehe, my debt-free life ultimately won’t be painful or uneventful, that’s the reason I want to become debt-free… ultimate freedom to do what I want.

      I also agree with you that looking at ROI is quite important, I’m shaking my head at the amount of people I know that have taken four year arts degrees, then take a two year college diploma for the thing they really want to do… it doesn’t make ANY sense to me! Then paying 6 years worth of student loans for a job that you only needed two year for… myeah….

  3. Hello!

    Thank you for including my article.

  4. Hello!

    Thank you for including my article.

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