You hit the nail on the head.  People no longer know the difference between 'wants' and 'needs'.  And then they can't figure out why they are broke with a huge amount of debt.  Not only that, they want someone ELSE to bail them out via bankruptcy!?!

The writer flat out suggested credit counseling and bankruptcy!  No mention of a 2nd job, or cutting back expenses. That's why I said "stupid advice".   I input data for financial plans and I see situations more often than not of people paying expensive cable and have huge cell phone packages, but they can't make ends ...more

Oh yeah, and there's also this thing called "getting a 2nd job" to get yourself back on track....hard work never killed anyone, last I checked.  Sometimes when people have to bail their own butt out, they learn very valuable life lessons.  MUCH better than getting bailed out...which they usually learn nothing from.

You know what dave1230?  I AM in that situation.  My husband hasn't been able to find permanent employment for over 1 year.  My son had surgery last fall, and because we don't have good group health insurance coverage, we have large medical bills to pay.  Luckily we planned for a rainy day and have an emergency fund to...more

Stupid advice.  His brother and/or wife need to get additional jobs and start paying down that debt that THEY racked up! How can one let credit card debt get that out of hand?  I don't get it.  Car payments?  Get rid of them and drive clunkers for awhile.  Can they downsize in house?  And they need to learn to live wit...more

As with anything in life, it's when you overdo a good thing that makes it a bad thing.  It's when people blow their grocery budget on lottery tickets that it becomes "dumb".  I worked with a gal that had to deal with $40,000 of gambling debt incurred by her husband.  Gambling is an addiction, and lottery tickets can fe...more

Ben~ Go follow a different blog if this one doesn't suit you. I'm not really sure why you are bashing Donna, but you, my friend, are the one that looks like an idiot.

Debt free is a MUST.  If you can't live within your means BEFORE retirement, then how will you manage AFTER retirement?

I recently purchased a new computer and was busy trying to get my programs moved over.  As I was going through the drawer, I found MANY discs that should be thrown away, such as the Windows 95 installation disc.  It's a pretty safe bet I will NEVER need that again.  I would guess 99% of the computer discs I've accumula...more