Comments on: Your Brain is Your Own Worst Enemy

By: Getting Into Debt Doesn't Solve Another Debt

Getting Into Debt Doesn't Solve Another Debt — Mon, 05 Apr 2010 08:00:57 +0000

[...] what I have read in an article entitled “Your Brain is Your Own Worst Enemy” from Engineer Your Finances, it shows more examples of debts and marketing systems that are used [...]

By: Fin Engr

Fin Engr — Sat, 20 Feb 2010 06:47:13 +0000

@ FS

Start with 80, add 12, and hop on the downward spiral.

Did you see this article about the doctor who let her debt balloon to some $550,000+???

She’s a Bernie-winner because who wants to guess some hungry law firms are going to scope her up as a victim, wipe the debt clean, and get a ton of publicity.

By: Financial Samurai

Financial Samurai — Fri, 19 Feb 2010 07:25:19 +0000

He has a point though.. what’s another 12K when you already got 80K!

The question I’ve asked before is “Does Bernie Madoff Win In The End?” Essentially, is Bernie the smart one who figured out how to liv beyond his wildest dreams? At 70-something, he’s almost dead, so who cares if he’s in jail!
.-= Financial Samurai´s last blog ..We Have Peanut Butter, But No Bread – Making Do With Less =-.

By: FinEngr

FinEngr — Wed, 27 Jan 2010 12:52:04 +0000

New Blog Post: Your Brain is Your Own Worst Enemy http://www.engineeryourfinances.com/2010/01/your-brain-is-your-own-worst-enemy/

By: Fin Engr

Fin Engr — Thu, 21 Jan 2010 05:33:31 +0000

David, visually your cart is a great method to get a “forest” outlook on your purchases. Plus, you NEVER pay full price when you buy online with great sites like:
retailmenot.com &
couponcabin.com

I had planned to write a post about this, but let me give you a teaser. I recently purchased $180 of running gear for under $90 and over $400 in software for under $100. Makes you wonder though, how much is this stuff really worth?

By: Fin Engr

Fin Engr — Thu, 21 Jan 2010 05:27:01 +0000

Great comments. The challenge with any goal is persistence, and without the right mindset, those goals will never be achieved. You highlight the most commonly overlooked trick in the book – break it down! As a side hobby, I really enjoy running because it helps me focus in so many other aspects of my life. My next race is a 10-miler, and when I first looked at the whole distance, I thought GEEZ this is going to SUCK. But, by breaking it down and taking it in smaller chunks, I’m now shooting for a sub-80 time (8:00/mile or less).

You’ve employed a little ELBOW C (my new phrase for your comment) – Every Little Bit Of Work COUNTS.

By: Fin Engr

Fin Engr — Thu, 21 Jan 2010 05:19:11 +0000

Wow. Its amazing how wide the difference between (or is it among?) our peers is. The defeatist mentality of your friend only further solidifies this “everyone has debt” and “everyone needs debt” mentality.

Hopefully he and his wife chose professions with prestige. If they’re both pottery majors, then I REALLY feel bad for them.

By: David @ MBA briefs

David @ MBA briefs — Tue, 19 Jan 2010 19:43:55 +0000

I hate talking to the sales people in person or over the phone because they try to talk you into buying all the extras, whereas online I can see what I’m getting in the cart and debate the need for any extras.

You can rationalize any purchase if it’s something you really want, which is why we should avoid impulse buys and use a cooling off period to make sure we really want it.

Site looks good, I’m looking forward to more good stuff from you.

By: Karen

Karen — Tue, 19 Jan 2010 12:04:04 +0000

Hi Ryan,
Your friend, like anyone who has a major, daunting task ahead (renovating an entire house instead of one room, losing weight the equivalent of another person)has to be overwhelmed and it’s much easier to go along with the program and convince yourself that EVERYBODY is doing this. But what I’m seeing on this site is espousing steps that would tackle one issue at a time–steps that primarily would stop you from getting into that situation to start with and that would help you crawl out of the hole–but it’s all ONE STEP AT A TIME. As someone who has paid off three mortgages early, including a set of years during when my husband received 1/2 pay disability and I was working only part-time, I can tell you that paying extra on these big bills each month can make a HUGE difference in what you pay in interest in the end and how soon they are paid off! But, of course, just like the person who needs to lose weight, if there’s no interest in doing it, NOTHING will change and life will go on as it is.

By: Ryan @ Planting Dollars

Ryan @ Planting Dollars — Mon, 18 Jan 2010 21:13:11 +0000

I had a college buddy who did this. He and his new wife had college loans of over $100k and they also bought a house right after college so combined they had over quarter a million in debt.

He said to me: “debt is a way of life and I’m just getting used to it.” It seems when people have that much debt they simply give up and keep digging since they don’t see much hope. He’ll be in debt forever, especially with that mentality.