This is the coolest thing ever! (I might just spend all day in the grocery store!)

It’s a grocery cart with auto scanner and stuff built in.

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Lots of things to talk about today:

First, I have received much positive feedback from the new podcast. You can find out more information about said podcast at No Credit Needed Podcast. I hope that you enjoy what you hear. I certainly enjoyed recording the podcast, but finding a way to host it for free and publish it for free was a bit arduous. I did not want ads at the beginning or end of the cast, so I had to check around a bit. Anyway, I hope you will check it out.

Second, I am just about ready to pull the trigger on my very last credit card payment EVER. I am stoked, and waiting for that end of the month paycheck is KILLING ME. I zipped through the other payments so fast, that waiting for this one is like watching grass grow. Very, very, very slow.

Third, I hope that you will check out the links on the right hand side of this site. There are tons and tons of pf blogs out there, and I think you would enjoy looking through them. There are too many to recommend just one, so check them all out.

Fourth, I have just completed my taxes. I am using TaxEngine.Com, where I can do my taxes, State and Federal, for FREE. Yes, you heard that right. Why? Well, we make less than 50k combined AGI, so we qualified. For a list of free or low cost filing services check out this page at IRS.GOV.

Fifth, WEIGHT LOSS UPDATE: I am down another 2.4 Pounds for a total of 18.2 pounds lost. Check out the old weight loss chart on the right to see my progress. I am shooting for 56 pounds by end of winter.

Sixth, I have my savings goals for the next 11 months. Here they are, in order of importance (to me!)

1. 4000 dollars For Emergency fund
2. 8000 dollars For 2 Roths (1 for me, 1 for wife)
3. 6000 dollars For 2 ESA (1 for son, 1 for daughter)
4. 4000 dollars additional emergency fund, future auto-purchase fund

So, as you can see, tons and tons for me to work on. New charts to make and post! BTW, I hope you all like the charts I post. They certainly serve as motivation for me.

Seventh, I am going to take up running as a hobby, sport. I think I actually want to run in a real “race” like a 5k or 10k or something. I have never been a runner, but since being on this diet, I have enjoyed walking and running on the treadmill, and I think I will schedule a race as added incentive to continue training. We shall see.

Eighth, I need to upgrade my podcasting equipment. Seriously, I am using free software and a 1.00 microphone that I purchased with my first computer, 8 years ago. I will not go overboard, but I would like a decent mic. I quite like the software I am using. (Audacity).

Ninth, I am VERY interested in learning more and more about investing. Man, there is just so much information out there. Mutual funds, index funds, etf’s, options, stocks, bonds… I think that the best plan for me is to pick 3 or 4 “seasoned” mutual funds, and contribute to them regularly.

Tenth, I plan to enjoy this year. My favorite episode of Seinfeld is when George gets an unexpected pay-day and gets to enjoy the “Summer of George”. Of course, he ends up doing nothing, and hilarity ensues. I think that I will consider this the “Year of NCN”, where I learn if living without debt is actually possible, and I figure out just how I am going to live the rest of my financial life. I am glad you are along for the ride… DORK!

Eleventh, why: TURN IT UP TO ELEVEN, of course.

Edit: Hey check out this really cool site that was just sent to me. PFBLOGS.ORG. The site’s creator aggregates the headlines from several personal finance blogs. Really, really cool. So check it out.

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I HAVE A PODCAST! After months of thinking about it, I have finally bitten the bullet and decided to publish a podcast. What will it be about? No Credit Needed, of course. If you want to check it out, simply go to ncnpodcast.com and you can manually download the mp3 file, or manually subscribe to the feed (located on the right hand side of the page). Everything is still very, very basic right now, but I was itching to get started. I would love for you to take a listen and subscribe. I have applied to Itunes, and should be listed by them very soon. If you have any questions, please comment below. I think you will enjoy the show. It is mainly a “set-up” show where I talk about the website, some money mistakes, and how to get out of debt. Please, check it out!

I also want to thank LANCE ANDERSON of VERGE OF THE FRINGE. Lance is an AMAZING storyteller, and I have loved his podcast for a very long time. Lance and I have emailed back and forth a few times, and he really encouraged me to get into this podcasting stuff. Click around his blog and DEFINITELY subscribe to his podcast! You will be amazed at the creative stuff you will find there. Thanks LANCE!

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Okay, the hottest thing going today, in the financial realm, is the “Cash Back” credit card. Almost every major credit card issuer is offering one of these “wonderful” things, promising you cash back for the purchases you make. Some promise cash back for groceries, gas, or everyday purchases. You can get bonus miles, bonus cash, and bonus gift cards. Wow! These things are wonderful…

Hmmmmmmm…

Get real. These things are CRAP. Why? Because, when you use credit cards, you are using a form of payment which is not “real”. Whenever you spend real cash, you “feel” the transaction. When you use credit, you don’t “feel” the money leave your pocket. Be honest… Which is easier? Handing someone THREE ONE HUNDRED DOLLAR BILLS for a new digital camera, or swiping a credit card and creating a debt of THREE HUNDRED DOLLARS? You know the answer. It is MUCH, MUCH, MUCH “easier” to use credit. Why? Because there is no emotional connection to the transaction. Credit card companies are not stupid. They know that the deals that they are offering you SOUND GOOD, but in the end, they are out to MAKE MONEY. My advice. PAY CASH. Feel the money leave your pocket. Watch it go into the money drawer. (Even using a debit card, which I do for various purchases, is easier than using cash.)

Now, there are several arguments against my position. I will list a few here, so that you don’t have to:
But ncnblog, I’m responsible with my credit and I pay off my balance each month.
But ncnblog, I was going to buy these things anyway, so I might as well get some cash back.
But ncnblog, I know how to handle my money, and I always make all my payments on time, and I am never going to be late or miss a payment. Relax.
But ncnblog, Credit cards are “safe” and they provide protection for me when I buy a product.
But ncnblog, Etc. Etc. Etc.

I hear what you are saying, and my response is…

Get real. Credit cards, for most people, are extremely addictive. They create a false since of security and a false prosperity. Here are my retorts:
I am glad you pay off your balances, but people spend MORE with credit cards than they do with cash. (Be HONEST, and think about how YOU are with your credit card!)
I am glad you were going to buy these things anyway… But, are you being totally real with yourself? On occasion, don’t you purchase items with the thought in the back of your mind… “Well, I don’t really need this, but I will get some cash back, and I might use it…”? Ladies, go check your closet for that purse or pair of shoes you charged, and think of how you justified the purchase… Guys, go out to your shop and look at that tool or gadget that you just had to have. If you did not have a credit card, would you have purchased those items…? BE HONEST.
I am glad you know how to handle your money… But, what if a payment gets lost in the mail, or the bank messes up, or one of these mega-banking corporations just arbitrarily decides to up your rate, or change your card policies? Oh yeah, that will NEVER happen, because these guys are known for their honesty and integrity.
Last, the “protection” part of using a credit card. Have you ever tried to dispute a charge on a card, or use their warranty protection services? If the answer is YES, then how did they do? I hope they treated you well, answered your service calls, and stood by you. In the answer is NO, then you have been relying on something for years and years, and never have had opportunity to use it. The “protection” afforded by credit cards is like the “protection” provided by a pet rattle snake. I would MUCH rather do business with honest people, with cash, and have my disputes and troubles handled face to face. (Why would you do business with someone that you would need protection from, especially protection provided by Visa or MasterCard?)

I know this post flies in the face of most pf bloggers, and that is cool. Most people talk of good debt and bad debt… blah, blah, blah. The borrower is slave to the lender…Whether the slave master beats you, or treats you like a member of the family, he’s still your master. And even the most benevolent master can turn around and break your neck.

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Wow, almost everyone I know is broke! And I mean everyone! I have friends who earn a lot, and friends who earn a little, and they all have one thing in common. They are broke. They have tons of debt. They do not have budgets, and they do not know “where their money goes.” They are not planning for retirement, they have too little insurance, and they live pay-check to pay-check. Seriously, regardless of income, all of my friends struggle with their personal finances. I have had the opportunity to “council” a few of them, and here are the words of advice that I give. Some are starting to take this advice, others are pondering it, and still others ignore it. (By the way, I NEVER offer financial advice to friends… They just know that I have this “thing” about money, so they come to me. This is pretty strange, seeing as how I too was limping along until last April. Cool)

So, here is my basic advice for the financially “out of shape.”

• Stop. Stop everything you are doing, for one day, with money. Don’t buy anything, don’t spend anything, don’t return anything, don’t plan anything. Spend one WHOLE day’s worth of free time not thinking about money. Clean your house, organize your office, play with the kids, do anything BUT think about money. You are about the embark on a radical life change, and you need a clean emotional state. Your financial problems did not crop up in one day, and they are not going away in one day.

• Analyze. Now, you are ready. Analyze your current financial situation. List ALL of your debts, all of your cash accounts, your retirement accounts, your bills, etc. Spend today’s free time reacquainted with YOUR personal finances. Find out who you owe money to, where your money is at, when your money will come in, and where your money goes out. This can be done on a simple piece of paper, or you can use your computer, whatever. You cannot fix your personal finance situation until you know EVERYTHING about your money. This is how you find out. You should end up with a piece of paper looking something like this:

1. Debt	Account	Date Due
   $100.00	CHASE	15
   $1,000.00	AE	15
   $1,000.00	BELK	15
   $230,000.00	MORTGAGE	1
   Cash On Hand	Account
   $1,100.00	Checking
   $1,200.00	Savings
   $200.00	Cash
   Bills	Account	Date Due
   $30.00	Phone	15
   $200.00	Electricity	8
   $120.00	Cable/Internet	8
   $150.00	Insurance	8
   $209.00	Groceries	Weekly
   Future Income	Account	Date Due
   $2,000.00	Dad’s Paycheck	1
   $2,000.00	Mom’s Paycheck	15

• Breath. Okay, now you have a clean workspace, and you know the basics of WHAT you are working with. Now you can begin to “game-plan” for your finances. Now you need to:
• READ. Now, if you had a “natural” love for personal finance, the you would not be in the position you are in, so you need a book or two that will educate you, inspire you, and, most of all, not BORE you. Here are some I recommend, in no particular order. I think you should buy them from Amazon (disclosure: I get a small commission off of each sale), borrow them from a friend, or get them at the library. All in all, these books will help you change your MINDSET about money. They will energize and focus a part of your brain which has been lying dormant for many, many moons. So read:

• Focus. You have, in just a few short days, analyzed your current financial situation, educated yourself so that you know more and more about saving money and getting out of debt, and prepared yourself for change. You know the “problem” and now you have the basic tools to “fix” the problem. So, GO TO IT. You are ready to conquer your debt.

Personal note here: I got tired of being in debt and broke all the time. (Peter was tired of reporting me to the police, and Paul was tired of receiving stolen goods… If you get that joke, you too are a dork!) So, I did these very things. I took a day off to just hang out, and prepare myself mentally. I cleaned out my offices, and I got myself organized. I wrote down my account numbers, balances, due dates, etc. I calculated who I owed and how often I owed them. I read Dave’s books (re-read, actually)…and then I GOT STARTED. Information without effort is USELESS.

Cautionary word: I AM NOT a personal finance guru, teacher, or guide. These are my opinions, and, while I think they are sound, they might just be ridiculous. If you follow any of the information or “advice” that you find on this site, you do so at your own risk. I am just a dude with a computer and some things to say.

Now, if you are ready to begin your actual budget, I HIGHLY suggest you check this product out from You Need A Budget. They are a sponsor of my site, and this Excel based budget program is WELL worth your investment.

Remember, this stuff can be as easy or complex as you make it. RULE of THUMB: It is never wise to jump head-first into something without understanding it…but it is even LESS wise to never jump head-first into understanding something. What?!? In other words, if you know you are broke, and are tired of it, get the information, the tools, and and the knowledge to DO something about it. FOCUS your initial energies on understanding WHAT to do, and the actual doing of it will become second nature. Feel free to comment with any questions or suggestion or problems.

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