Category Archives: consumerism

Credit and Young Adults, aka Millennials

Credit - Red Billboard on Sky Background. Business Concept.

When it comes to those preapproved credit card applications, remember, what the big print giveth, the small print taketh away.

This is one of my favorite quotes about credit cards from Mary Hunt and it is mentioned in my book, Financial Freedom Party for Women, A Little Book about Money for Women.

I am never sure who is teaching younger people about the use of credit and credit cards, except the credit industry.  Not always a good idea to learn from those whose main interest is in making money by you purchasing what they offer!

So, I thank yahoo.com for a wonderful article titled: What real millennials want to know about credit.   Millennials are described as those in their 20s and 30s.

Please click here to enjoy the article, learn and share with your friends.  Even this one simple educational piece can undo a lot of bad habits learned by buying in to the very powerful marketing activities of those in the lending business.  As with any product, credit can be a valuable tool when used appropriately.  It’s just not for everyone.

 

 ffpluluthumbnail

 

 

 

Millennials, A Different View on Home Ownership?

 

rent-vs-buy

Millennial is the name which generally has been used to identify a generation of people who were born in the 1980s and 1990s. Most of us have experienced tales from people of generations who went before us  as they reminisce about “the good old days” while lamenting the loss of the lifestyle of their generation.  For many generations, home ownership has been considered part of the American Dream.  Should we always assume what worked in the past will work now, or in the future? 

Some millennials don’t think so and  are making  non-traditional decisions about their living and housing arrangements.  This interesting article from Zillow.com describes millennials who are opting out of home ownership and seeking other housing options.   Often it is a decision based on financial need, but not always.  It can also be because of a desire for easy mobility, or just being comfortable living in a community-like atmosphere.

Perhaps the  accepted definition of the American Dream is  being rewritten and revised by this generation of consumers.  An interesting concept and a fascinating article.

 

 

 

Empty Mansions– Living the Good Life?

mansions

I just finished reading the book “Empty Mansions” by Bill Dedman and Paul Clark Newell, Junior.  The title says it is about “The Mysterious Life of Huguette Clark and the Spending of a Great American Fortune”.

Any book with the words fortune and spending just calls to my financial education mind.  It would seem that a book about wealth would be all about what we call “living the good life”.  I learned that the title refers to the empty properties Huguette continued to maintain even though she didn’t live in them.  Interesting.

This book is about a woman and her story which revolves around extreme wealth, business, family owned businesses, decision-making, relationships, trust and distrust, and how money can be both a blessing and a curse.

Personally, it took me a long time to learn to deal with money in an unemotional manner.  The main character, struggled with that for a really long time as she was born in 1906 and died in 2011. She dealt with a lot of emotions and they often guided her decisions.  For Huguette, these decisions usually involved  large sums of money. The world changed radically during her lifetime and she also outlived her close relatives.  Some of the change was more than Huguette wished to deal with, so she created a lifestyle which was strange and unconventional to most ordinary (and even wealthy) people.  Her needs for security and safety as a wealthy person played a big part in how she spent money.  As an elderly woman  it appeared that those who were caring for her may have taken advantage of  her financially, even though the medical professionals found her competent.

It is hard to imagine the majestic homes her father created with his wealth  and the mind-set of  Huguette who was born into such a lifestyle and never knew anything different.  Still, I was struck by the similarity between the decisions she had to make about  businesses, advisors, and income management, and those made by the rest of as we manage our personal finances or make lifestyle and financial decisions about the senior citizens our lives.

Was Huguette happy living what most would see as “the good life”?  It is hard to tell.  That is the mystery which remains in her interesting life story.

Until next time.

Debra J. Hadsall

Shopping for the Glory of God?

shopping2

I clearly have shopping on my mind.  Really, who doesn’t?  First we have 24×7 advertising and reporting on “Black Friday”, “Cyber Monday”, and an incredible amount of supersized  holiday shopping media blitzes everywhere.  It is, after all, the biggest marketing cycle of the year.  It seems to start before Thanksgiving and doesn’t end until those “after holiday sales” in January.  For those of us who gave up shopping until we dropped, it doesn’t matter.  We get exhausted just observing others go through it.  Then there are always the financial and emotional aspects of all this shopping.  Sometimes a different take on the whole experience can help us regroup and refocus.

Recently I re-posted one of my articles about shopping. It was a start, but some of the most useful and thoughtful guidance I have received came from a sermon.  It became  an important part of how I deal with the craziness of the intense comsumerism of the holidays.  It is a message based on the Christian celebration of Christmas.  The sermon (or message) is called “Shopping for the Glory of God”.  I came to experience this sermon over and over because it became part of the work my friend Emily Mann and I did with creator of this message, Rev. Dr. Marti Zimmerman.   The three of us together collaborated on what developed into a book called First You Dream, A Financial Management Workbook.  The sermon is one of six in the workbook and they all focus on money, consumerism, and faith.  I personally typed  all those sermons for the manuscript, so I am pretty well acquainted with them!

I hope you will take a few minutes to experience the power of Marti’s s words and an alternative view of shopping for Christmas and holidays.  Just click here.

Until next time.

Debra J. Hadsall

logownedy (2)

Reposting of FFP Mini-Newsletter, Shopping

shopping2It seems like a good time to share my FFP Mini-Newsletter which was one of the early posts about a very common subject, shopping.

Please click here and enjoy.  Share with your women friends, your daughters, granddaughters, nieces, sisters, and anyone else who likes to shop!

Debra J. Hadsall

logownedy (2)

Financial Freedom Party for Women, A Little Book about Money for Women, Workbook Edition is now available on Amazon.com. Just click here.