Posts

When I was young and stupid, I accumulated more than $100,000 in unsecured, credit-card debt. And you think you’ve got troubles?!

I didn’t get into that mess overnight. It took me 12 years and myriad terrible financial mistakes to do that and in the process, nearly ruin my life.

During the 13 years it took to get out of the mess (paid back every nickel with no concessions, settlements, negotiations—or bankruptcy) I learned how important it is to deal with mistakes as they happen so they don’t turn into major setbacks.

No one is perfect. You’re going to make mistakes, and when you do, you need to know how to react and what to do to minimize the damage.

Read more

There is an old adage that warns, never lend money to family or friends. And if you’ve managed to adhere to such a thing when someone you love has been in a real bind, it’s possible that you’re much stronger than I am and I dare say, most of your fellow readers as well. The secret is to help if you can, but in a way that strengthens that relationship, not destroys it.

 

Male and female hands exchanging a stack of 100 dollar bills

Does the Lender Get a Say?

Dear Mary: Last month I lent my sister $500 to pay for her rent since she said she was in a jam. Well, it’s been months now and she hasn’t paid me back, yet she’s eating out every day and getting a weekly manicure! Needless to say, I’m angry. What can I say to get my money back? Seething in Seattle

Read more