Written by Gary Foreman

The Dollar Stretcher Blog

Surfacing this time of year are all kinds of forecasters, prognosticators and swamis. The temptation to join them is too much. But, in the interest of trying something a little different we’ll forecast things that will NOT happen in 2010.

The credit card company will not lower the interest rate they’re charging on your balance this year. Even though other interest rates are near record lows. New laws make it harder for them to raise rates on troubled accounts. So they’ll protect their profits. It will be harder to get a rate decrease even if you deserve it. So, if you get an unsolicited letter from your credit card company offering to lower your rate, check your calendar. It could be April fool’s day.

You will not win the lottery. OK, it’s possible that one or two of you might win a sizable prize. But, this prediction will be right for almost every reader. If you doubt it, check the odds on winning the lotto game you play (how many decimal places can you count?). So, if you quit playing you’ll be ahead of the game in 2010. In fact, you could be the real winner.

Contrary to a popular request, your savings account will not grow magically. Unless you put money into savings and leave it there to accumulate interest, the amount that you have in savings will not increase this year. Feel free to make me a liar by regularly depositing money into your account. I’d be happy to have you challenge my forecasting ability when you tell me how much larger your account is.

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Hope for a Spendaholic

The Dollar Stretcher Blog

Written by: Gary Foreman

I have been married 40 years, I am 59 and am a spend-a-holic. I have been following Dave Ramsey’s plan and trying to get my credit cards paid off. We have no money and no retirement. Is there any hope for us?

B.

Yes, there is hope for B. It might take awhile and may not be easy. But just because she didn’t overcome her spend-a-holic tendencies in the past doesn’t mean that it cannot be done.

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Those of us who have had the luxury to travel understand how expensive it can be. The cost for anyone who has done so with an entire family can often cost a small fortune. When I would go on vacation, thinking about ways to manage my money rarely crossed my mind. After all, I’m on holidays and I want to do anything and everything. I’ve learned that coming home to an empty bank account can be rather upsetting and I realized that budgeting is important while traveling. Do you want to travel on a budget and still make it the best vacation you have ever had? Here is a list of money saving vacation tips.

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