To Kittens - who exactly is subsidizing/paying for the income based loan reduction program?  It's the taxpayers.  So yes, student loans can not currently be forgiven in bankruptcy but taxpayers can be on the hook in other ways.

Student loans should not be discharged in bankruptcy except in rare cases.  e.g. disability after college.   Otherwise, why even consider the cost of the education when choosing a college?  Harvard, here they come.  Our daughter (35 ACT, #1 in her class, National Merit) was not even allowed to apply to IVY league sch...more

It is not the same as a gift!  It is the same as winning the lottery.  Big difference!  Would you be saying the same thing if Donald Trump had won this house?  Or the doctor down the street?   They need to be realistic.  Sell the house, use the net proceeds to buy a house they can afford.

The majority of the expenses listed in this article are pure lifestyle choice.  Other than the diapers, the food on the table, day care and the medical care, the rest of the expenses are optional or could be slashed drastically.  Sports, Spanish lessons (for a toddler no less!), private schools, etc are all based on wh...more

The donuts for the whole office, the occasional meal for an employee working overtime and the company picnic are 100 percent deductible, unlike the meals when you are traveling for business or taking clients out to lunch which are subject to the 50 percent rule.

How about HELOC's used to buy vehicles?  Now there's a loophole!  Let's get rid of the deduction for interest on the extra $100,000.  At least start somewhere.

Annually, it is the personal exemption amount, currently at $3,900, times your marginal tax rate for each additional allowance claimed.

You can start around the age of 5 with the discussion of "need" vs "want".  They won't like this discussion for a long time but this simple concept can carry them through the majority of financial decisions for life. As for the family's financial circumstances, they don't need to know specifics but you can definitel...more

Kids are now 14, 17 and 20.  Allowances started at age 5, $1 times their age per week.  50% to college, 5% to church and the rest was theirs.  However, they had to purchase all gifts for friends, family, etc.  Also had to spend their own money for entertainment - movies, video games, music, laptops, etc.  Allowances st...more