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Author Archives: Kristina Tahnyak

Avatar photo About Kristina Tahnyak

Tahnya is a Certified Financial Planner and former Investment Advisor turned marketing and communications professional She holds a degree from Concordia University, is debt free and currently works in the field of digital marketing.

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The Boeing Company Air Force Contract

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airforce, airforce contract, boeing company

It was announced the other week that the Chicago based aerospace company Boeing earned a $35 billion dollar contract to create aircrafts for the US Air Force.  Each air craft is reported to have a price of $145 million dollars.   Boeing is an American company that may be most famous for their commercial aircrafts including the Boeing 737, 747 and 767.  Boeing currently operates out of several states across the US; their major locations include Washington State, California, and Missouri. What does this mean? The Boeing Air Force Contract means American Money and more American Jobs. The Boeing Company has not yet announced if this new $35 billion dollar contract will create new job opportunities for Americans, but it will definitely secure the jobs of current employees.

The Boeing Company was founded in 1916 in the state of Washington. It is good to see that over the years they have kept their roots in their hometown as they still have their largest operation out of the state of Washington.  However, in 2001 the headquarters moved to Chicago Illinois.

The Boeing Company is composed of several different lines of business which include Boeing Commercial Airplanes, Boeing Defense Space and Security, Boeing Capital Corporation, and Boeing Shared Services Group.  The Boeing Company has over 150,000 employees; they are the world’s largest aircraft manufacture with clients such as NASA and the US Military.  Boeing is also one of the largest US exporters with clients in over 90 countries.

The Boeing Company prides itself on sustainability with core corporate values, ethics, human rights, as well as health and safety. The Boeing Company values include Leadership, Integrity, Quality, Customer Satisfaction, People Working Together, A Diverse and Involved Team, Good Corporate Citizenship, and Enhancing Shareholder Value.

Although it may be hard to believe that aircrafts can be environmentally friendly, but The Boeing Company is committed to the environment.  It’s good to know that Corporations can have a “heart” when it comes to our planet. The Boeing Company supports the global aviation industry’s commitment to carbon neutral growth via the Air Transport Action Group Climate Change Declaration.  We know that going green can be a long process, but I am pleased to know that The Boeing Company is on the right path.

With their diverse product offering and their global dominance, it is certain that The Boeing Company has definitely made a name for itself in the Aerospace industry.  Since the announcement of the Air Force contract on February 24th, The Boeing Company (symbol BOE.L) stock has significantly increased.

(Photo by Armchair Aviator)

Should you keep your credit cards or cut ’em up?

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credit card tips, credit card advice, credit card

Some of us have the financial priority to pay off our credit card debt and get rid of our credit cards with high interest rates and annual fees.  We may have a plan to achieve our goal, but what happens to those credit cards when our goal is achieved and our credit card debt is paid off? We must decide if we should keep our credit cards or we should cut them up.

What is the purpose of your Credit Card?

We must determine the purpose of our credit card, this will help us determine if we should keep our credit cards or if we should cut them up.  Maybe you are using your credit card as an emergency fund.  If you don’t have an annual income that allows you to save money in your rainy day fund then credit cards are a good alternative.

However, unused credit cards can be harmful on your credit bureau.  If you don’t use a credit card but keep it open then it will still be reported to the credit bureau on a monthly basis.  This is harmful because it does not help establish a good credit history because there is nothing to report.  It is also harmful because if we apply for other types of credit such as a mortgage or a car loan, the company will see that this credit is still available to us.  Therefore, they will take it into consideration towards our debt ratio.

If you are keeping your credit card for emergency purposes I suggest that you still use it at least once a month to keep the credit card in good standing, and keep a good credit score.

Why do you have a Credit Card?

People often get a credit card to pay for a big purchase that they can’t afford such as furniture, appliances, a vacation, or a wedding.  If this is the case then we are using our credit card as a personal loan to finance one purchase, we continue to pay it down monthly until it is finally paid off in full.

This can be beneficial because even though the interest rate on a credit card may be a little bit higher than the interest rate on a personal loan, the benefits of using a credit card far outweigh those that come with a personal loan.  With credit card purchases we can earn frequent flyer miles for a future vacation, or we can earn rewards points to later redeem towards merchandise and gifts.

If we have other forms of debt such as student loans, a car loan, a mortgage, or a personal line of credit I suggest that we cut up our credit card after it has served its purpose.  Don’t forget to call your credit card company and cancel it first.  However, if this credit card is our only type of debt, I suggest that you keep it open and continue using it to maintain a good credit history.

Some people believe that having no credit creates a good credit score.  This is not true.  Open and unused credit cards can be harmful.  Having no credit history is almost as harmful as having a bad credit history…I said almost.  If our credit card has a purpose we should keep it, otherwise we should cancel it and cut it up.  Temptation may always be lingering for shopaholics.  If used properly, a credit card can be a DINKS best friend.

Photo by Eliazar

Friday Roundup: Prostitutes, Money, and Books

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Happy Friday Dinks! I hope you all had a great week.

Now it’s Friday and that means it’s time for some light and fun reading before we start our weekends. Today’s content is a little bit mature so if you are under 21 I recommend that you stop reading this, or you get permission from your parents.

For one of my urban planning classes in my final year of University we had a group assignment to revitalize a dying neighbourhood.  My group decided to revitalize a low income neighbourhood into a trendy red light district where the residents were safe and the sex was available 24 hours a day.  Our final group project showed how the legalization of prostitution could change a neighbourhood from welfare to middle class by taxing an activity that was already present.  There is a lot of money to be made in the business of prostitution. The problem is that the act is so taboo not a lot of people with the financial means are willing to invest in prostitution and take a risk that could possibly tarnish their image.

If I had millions of dollars I would definitely change old boarded up factories into trendy industrial condos and brothels. I would take prostitutes off the dangerous streets and put them into a safe working environment. Prostitution would be a legal business where sales receipts are issued to clients, and annual tax slips are issued to employees.

If prostitution was safe and regulated it could be a very profitable business for investors, neighbours, and for the government. The Bunny Ranch in Nevada is a perfect example of how prostitution can become mainstream and profitable.  I recently read a trilogy of books called The Diary of a Call Girl series by Tracy Quan which includes Diary of a Manhattan Call Girl, Diary of a Married Call Girl, and Diary of a Jet Setting Call Girl.  The book chronicles the life of a girl who turned her sex trade as a prostitue into a profitable business which pays for her expensive apartment in the Upper East Side of New York.

The Diary of a Call Girl series shows that call girls are just like any other type of entrepreneur; they have a client list, a business plan, weekly sales quotas, an accountant, and a lawyer.  They support good causes and they have loving families.  The difference between a professional call girl and myself is that I work 9 to 5 and a call girl has a flexible schedule.

Here are some posts from around the web about the Profitability of Prostitution:

Fabulously Broke in the City presents prostitution as a necessity in her post Confessions of an Escort: A Look into the Life.  FB says that prostitution is the business of basic economics.  If there is a demand then there needs to be a supply.

The Telegraph reported that a Hilton hotel was closed in China over an alleged brothel that was being operated in the basement. If prostitution was legal, the hotel could have charged an income percentage or a flat monthly fee for prostitutes to meet clients at The Hilton Hotel.

Forbes stirred up some financial messiness with their post The Economics of Prostitution. They say that sex is a simple business deal like any other. Men buy the goods that women are selling.

Here on DINKS Finance we have discussed the possibility of prostitution to earn extra money if we are in dire financial straits.

(Photo by Moggs)

Oprah’s Money and Her Secret Sister

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News broke out a few weeks ago that Oprah has a secret half sister.  I am not a big fan of Oprah as an entertainer, but I am a big fan of Oprah as a business woman.  The news of Oprah’s secret sister came out of left field.  As Oprah is a brilliant business woman, I am sure that she has done her homework on her secret sister.  I am sure that Oprah made sure the two are in fact related by blood.  However, no matter how happy Oprah is to have a new sister in her life, in my opinion we have to question this woman’s motives.

Sometimes in business (and in life) personal emotions can take over our logical thinking. However, I don’t think that this will be the case with Oprah Winfrey and her new secret sister, whose name is Patricia.  I am sure that Oprah Winfrey will not lose her millions to her newfound sister; but she may give away a few hundred thousand dollars.  Oprah is known for being generous with her riches.

It is safe to say that Patricia’s lifestyle will significantly change now that she is the sister of Oprah Winfrey.  Oprah may be willing to pay for her sister’s new lifestyle, the lifestyle that comes with being the sister of a millionaire mogul.  Patricia was in and out of foster homes as a child and she is a single mom with 2 kids.  It is safe to say that Patricia is not as well off as Oprah; but then again, who is? Forbes reported that Oprah Winfrey made an estimated $315 million in 2010. The question that I have to ask is, should Oprah feel obligated to share her hard earned money with her new found sister?

Oprah Winfrey has created an empire that includes The Oprah Show, O Magazine, Oprah Radio, Harpo Creative Works, Harpo Films, as well as Harpo Productions.  Oprah’s production company Harpo Productions produces television shows such as The Rachel Ray Show, The Dr. Oz Show, as well as Dr. Phil.  We all know that she has money, but how did Oprah get to be so rich?

The answer is plain and simple, she controls everything.  Of course Oprah makes money because people support her; she relates to the general public and she is likeable.  There would be no money to make if people didn’t buy what Oprah was selling…by the millions.   However, what Oprah does with the money that counts.  Should she feel obligated to make her sister’s life better just because she has the money to do so? It is not Oprah’s fault that she didn’t know about her half sister, or that she missed several bonding years with her sister, or that she is financially well off.  However, spending money on her sister will not make up for lost time.

I am not saying that Oprah’s sister Patricia is a gold-digger (can that term be used for family?). All I am saying is that I am sure that money had a big role to play in Patricia making contact with her half sister Oprah Winfrey.  I am not sure if Patricia would have put in the same amount of effort if her sister was also a single mom with 2 kids.  Could you imagine finding out that your secret half sister is Oprah Winfrey?….Cha-Ching!

Photo by Alan Light

Junk Can Be a Good Investment

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investment ideas, junk bonds, investment tips

One man’s trash is another man’s treasure; or should I say one man’s trash is another man’s investment.  Over the past few years investors have been searching for alternative investments to their high risk stocks and mutual funds. Bonds have become a very popular secure investment option.  Different types of bonds available on the Financial Market include Government Bonds, Corporate Bonds, Foreign Bonds, and Junk Bonds.

According to CNN Money Junk Bonds are still good investments.  Junk Bonds are commonly known as High Yield Bonds.  Bonds are rated by grades according to their security and risk of default. AAA Bonds such as Federal Government Bonds are considered to be the safest bond investment because they have the lowest risk of default.  Junk Bonds have a rating of BB or lower.  They can be very profitable because they offer a high yield. But they can also be high risk because they invest in companies that may become insolvent.  If a company goes bankrupt they will default on their bonds and they will not be able to repay investors.

Here are some other places to invest our money according to Daily Finance:

Commodities.   Sugar, wheat, and oil are all examples of commodities.  Daily Finance suggests that we invest in a broad range of commodities through a mutual fund or an exchange traded fund.

REITs otherwise known as Real Estate Investment Trusts.  REITs invest in various real estate investments such as mortgages and individual properties such as hotels.  They offer tax advantages and generally high yield rates of return.

Inflation Protected Bonds.  An increase of inflation could mean a decrease in the value of our dollar and therefore our investments, unless we hold Inflation Protected Bonds.   Types of Inflation Protected Bonds are Real Return Bond Mutual Funds or Treasury Inflation Protected Securities.

Australian Dollars.  Investing in foreign markets and currencies can be very profitable and/or very risky.  If you are considering investing in a foreign currency I suggest that you do so through a Foreign Bond.  This will give you exposure to a foreign market without the high risk of investing directly in a foreign currency.

Municipal Bonds. Municipal Bonds can be a good investment because bonds are a fixed income investment.  However, they can also be very risky because the odds that a municipal government will become insolvent are higher than the risk of a federal government going bankrupt.  I like investing in municipal bonds because it invests in our local government.

Large Cap Stocks. I believe they are a great investment because they invest in large well established companies that have a large capital investment.

Dividend Stocks.  These are a long term investment that pays a regular stream of income on a quarterly or annually basis in the form of dividends.  Companies that pay dividends are usually Financial Institutions as well as large corporations who earn regular profits.

Other good investments include Health Care and Consumer Staples, Stocks with Low Debt to Equity Ratios, Oversold Stocks, and Cash.

(Photo by KalleBoo)

Outwit. Outlast. Outplay.

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survivor show, survivor anniversary, financial strategies

This post will discuss the Financial Strategies that we can learn from the hit TV Reality Show Survivor. c

This will be the 3rd time that Russell Hantz has played the game of Survivor.  Aside from being the greatest player to ever play the game of Survivor, Russell Hantz is also a millionaire oil tycoon from Texas. He isn’t playing survivor a 3rd time for the money. He has money. He is playing Survivor for the winning title of the Ultimate Survivor. Russell Hantz is playing the game of Survivor to win.

According to his biography on CBS.com Russell Hantz is” a self-made millionaire who built his business by working hard, speaking his mind and stepping on anyone who got in his way, Russell will do anything to win the game of Survivor.”    In my opinion Russell Hantz is the greatest player who ever played the game of Survivor because he applies his everyday business smarts to his Survivor strategy.

Here are some great financial strategies that we can learn from Russell Hantz as he plays the game of Survivor:

Be Loyal. Switching financial institutions for every new promotion and switching investments every time they lose money are both bad financial strategies because it can end up costing us more in the long term.

Think ahead. Russell always plans his next move and anticipates his opponents’ next move. Planning ahead for both the short term and the long term are both great financial strategies.  We should always have some sort of plan, budget, or goal that we are working towards.

Get rid of your enemies. Cut them out.  Negativity is not needed in finance or in our personal lives.  If we get rid of our enemies now, they are less likely to hurt us later.

Keep the strong players around. Keep good company.  People who are rich and successful tend to hang out with other people who are rich and successful.  Our allies should be people who share our goals and who have similar lifestyles.

It’s good to get advice. I believe that we should be honest and open about our money, our finances, and our investments. Whether we get advice from our friends and family or from a professional, it is good to be open about money and seek financial advice. If we have questions about money, the odds are that other people our age also have the same questions, or already found their answer.

Be Honest. Honesty is the best policy in life, business, and finance.  Russell is notorious for being brutally honest.  He tells his competitors exactly what he is going to do; his strategy is not a secret.  However, the other competitors still get mad and don’t vote for him to win even when he is honest and tells them exactly what he is going to do.  The first season that Russell Hantz played Survivor he even prepared his rival for their final speech.  He told her what to say to the jury to get their votes and win Survivor…and she did.

The reason Russell has never won the game of Survivor is because the jury of his peers votes on emotion and not on strategy.  The jury is upset that Russell got rid of them, even when he told them to their face that he was going to do it.  Russell is the best strategic player ever on Survivor and he deserves to win. We all could learn a few financial lessons from Russell Hantz on Survivor.

(Photo by PuuikiBeach)

Couples Money Mistakes

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couples advice, couples money mistakes, couples money tips

When we get married we may choose to merge our finances or we may choose to keep them separate.  Whether we have a joint account with our spouse or not, our individual money is still part of a couple’s budget.  Whether we keep our money in the same account as our spouse or not is totally irrelevant, because we still use our individual money to pay for joint expenses.

US News recently published an article called The Biggest Money Mistakes That Couples Make.  Of course couples are bound to make money mistakes at the beginning of our relationships until we work out all of the kinks.  I started dating my boyfriend Nick when I was 19. As we all know 19 year olds are just learning about their own money, not to mention having to manage our money together with someone else. We made our share of money mistakes as a couple, but we lived to learn from our mistakes.

Here are The Biggest Money Mistakes That Couples Make according to US News:

Not Talking About Finances. In my opinion, this is the number one biggest couple’s money mistake. Communication and Honesty are the two most important components that make a relationship last, after being in love of course.  If we are not comfortable enough to talk to our spouse about money then what are we doing in a couple?

Putting One Person in Charge of the Money.  This, in my opinion, is the second biggest couple’s money mistake.  Maybe it’s because I am a control freak, maybe it is because I work in personal finance, but I just couldn’t imagine having someone else take care of, manage, and tell me about my finances.  I also couldn’t imagine making a big purchase without talking with my boyfriend Nick.  I have been with him for more than one third of my entire life, and I couldn’t imagine making a decision without him.

Combining Accounts Too Early.  Or if ever, in my opinion.  Having a joint account does not make our money joint.  If you are in a couple and you share expenses, your money is already joint; regardless of how you both access the money or where the money is kept.

Sharing Credit Cards, Real Estate, and other Debts.  I would recommend sharing debt as long as it is joint and you are both equally responsible to repay it.  Couples debt should be acquired to gain a joint asset such as a car, a home, a cottage or a boat.  Couples debt can also be acquired for joint purchases such as furniture or a vacation.  I wouldn’t recommend sharing debt as a couple for individual spending and expenses.

Ignoring the Fact that You Might Break Up.  Anytime a couple is together whether it is by marriage or not, we have to consider what will happen to our assets and debts if we break up.  Anything acquired as a couple should be split equally down the middle.  Anything that we have acquired (whether it is debt or an asset) on our own is our individual responsibility.  Since I come from a divorced family and I’m a total commitment phobic, I feel that breakups are inevitable…it’s just a matter of time. We always have to be prepared.

(Photo By Mike Baird)

Weekly Roundup: The NBA All Star Weekend, Sports, Money, and Financial Decisions

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Happy Friday DINKS! Last weekend was the NBA All Star Weekend and because I am in a couple with a sports fanatic I have learned to grin and bare it during major sporting events.  I honestly do not like sports, but I watch sporting events with my boyfriend Nick. 

More recently I have taken an interest in sports news because there is actually a thin line between personal finance and the finance of sports management.  After all of the glitz and glamour being a professional athlete is a job just like any other.  Being an NBA superstar consists of good days, bad days, financial decisions, investments, and money management.

The news surrounding the NBA All Star Weekend was the impending contract renewal/trade of NBA superstar Carmelo Anthony .  If you are unfamiliar with this story, Carmelo Anthony is a 26 year old superstar who has his own shoe line, clothing line, and several other business ventures.  He invests in real estate and cars.  He is happily married (to a former MTV VJ) with 2 young children. 

Carmelo Anthony has played his entire NBA career with the same team in Denver Colorado.  His contract is now up for renewal and he is considering leaving the town that made him an All Star.  Carmelo Anthony must make a financial decision whether to sign a contract extension with his current team, or relocate to a new city and transfer to a new team.

Does this story sound familiar? It is because we witnessed a similar story with Lebron James not too long ago.  When his contract was up in his hometown of Cleveland, Lebron James chose to relocate to Miami.  This was a multimillion dollar deal that has turned out to be a not so profitable investment for the Miami NBA Franchise.

Here are some posts from around the web about Personal Finance as it relates to the NBA:


Budgets Are Sexy discusses teamwork and personal finance in the post Finance Lessons We Can Learn from the Miami Heat.

Here on DINKS Finance we have discussed the personal decision to move for a better paying job in the post Moving for Money.

Financial Samurai  says that bigger cities offer greater wealth in the post The NBA Finals Proves Location Matters For Success.

Airline Fees That Suck

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airline fees, airline additional expenses, airplane fees

It’s been a brutal winter up in the cold northeast and many people are escaping to warmer weather for a little winter break.  Before we book our airline tickets this winter we need to make sure to read the fine print about airline fees.

Airlines have increased fees and created new fees for travellers that make taking a road trip a better vacation idea.  MSN Money recently published an article titled The World’s Most Frustrating Airline Fees that discusses some expensive and ridiculous fees that are now being charged by airlines.  I am not sure if it’s more frustrating that airlines are charging these fees, or it is more frustrating that airlines are actually trying to defend these new expensive fees.

Here is a list of fees that airlines are charging to their travellers:

The Airline Fee for Checked Bags: Airlines can charge anywhere from $20 to $100 per checked bag.  As a traveller I don’t want the plane to be too heavy, but I don’t think that charging travellers is the way to ensure that the plane is not overweight.  If travellers are willing to pay the fee then they can bring as many bags as they want. Airlines should enforce a strict rule about the number of bags that travellers can bring no exceptions.

An additional Airline Fee for Paying the Checked Bag Fee at the Airport: Can anyone else say ridiculous? I would never pay my checked bag fee online because until I leave for the airport on the day of my trip I don’t know how many bags I will have.  I would also never pay an additional fee for another fee; I would just book my ticket with another airline.

The Airline Fee for Using our Frequent Flyer Miles: Isn’t the whole point of using frequent flyer miles the fact that the flight is free? We already have to pay the taxes on a ticket that is booked using our frequent flyer miles; now we also have to pay a booking fee for those tickets.  The fee increases if we call a customer service agent instead of booking the flight ourselves online.

The Airline Fee to Reserve Your Favourite Seat: That’s right, if you want to guarantee that first seat at the front of the plane, you are going to have to pay for it.

The Airline Fee for Checking In: This is a fee charged by the European airline Ryanair.  A fee to check in? Seriously? If there should be such a fee shouldn’t it be included in the price of our ticket? The most frustrating thing about this airline fee is that we can’t avoid it. Checking in is only the logical next step after booking our ticket. We must check in to take the flight and therefore we have to pay this fee.

The Airline Fee to Change our Ticket: This is normal, and I don’t mind paying a fee to rebook my flight, as long as the fee is reasonable.  In my opinion it is not reasonable to charge $75 to $250 plus the price difference in tickets to change a flight. A standard $25 fee should apply plus the price difference in tickets.  $25 is still a huge profit for airlines because changing a ticket takes less than 15 minutes with a customer service agent. This is a lot less than the hourly wage that they are paid by the airline.

The Airline Fee for Carryon Bags: YIKES! This is ridiculous.  Aren’t those overhead bins there for our convenience? Some airlines are charging up to $45 per bag that travellers want to carry on the plane and place in the overhead bin.

The Airline Fee to Use the Bathroom. I have to admit that since I saw the movie Snakes on a Plane I have not used the bathroom on a plane.  In general, I don’t like to use bathrooms that aren’t stationary such as Port a Potty.  I also don’t like to use the bathrooms on anything that moves like a bus, airplane, or train.

Airlines have repeatedly justified their actions by saying that adding fees are cutting costs.  However what they are really cutting are jobs.  If we book our ticket online, the airline doesn’t have to pay a customer service agent.  If we don’t bring any bags on our flight, the airline doesn’t have to pay a baggage handler.  Airline fees are not to cut costs, they are to increase profit…bottom line.

(Photo by Ma1974)

Tips to Preserve Our Wealth

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preserving wealth, tips about wealth, saving advice

 

MSN recently published an article titled “Athletes Gone Broke”.  I can tell you that it reads as a cautionary tale of what not to do when we have money in order to make sure that we don’t lose all of our accumulated wealth.

It is important for us to learn how to accumulate wealth, but it is also important for us to learn how to preserve our wealth.  We can learn what to do from other people’s victories, but we can also learn what not to do from other people’s mistakes.

What is your biggest financial mistake?

Being wealthy can be a great asset. We have to always remember that we can lose our wealth just as quickly as we made it.  I made my share of financial mistakes when I was younger. I regret accumulating debt because I thought that having credit cards made me more mature.  I also regret buying a $30,000 Honda Civic on an impulse purchase during my lunch hour.

I now live on a very strict cash budget, and I only use my credit cards to maintain a good credit score.  I use my credit card to pay for purchases such as trips and travel accommodations where a credit card is the only payment option.  Financial responsibility makes us mature, having platinum visa card does not.  It is ok to make mistakes as long as we learn from them, and we don’t make the same mistakes again.  We should share our stories, and learn from the financial mistakes of others.

Tips to Help You Preserve Your Wealth

Don’t Take Money for Granted. We shouldn’t assume that our money will always be there.  Antoine Walker was a professional athlete in the NBA, who accumulated over $110 million dollars from his NBA career.  Only two years after his NBA career ended, Antoine Walker had spent over $100 million dollars on bad habits which included gambling in Las Vegas.  It is ok to spend $50 million dollars a year if we are making more than that per year.  However, we can’t always assume that money will be constantly flowing into our wallets.

Mange Our Money Wisely. Some say that the number one rule of being wealthy is to spend less than we earn, and we must always live within our means.  Spending money we don’t have leads directly to bankruptcy.  This was exactly the case for Mike Tyson.  If the story of Mike Tyson losing $400 million dollars and filing for bankruptcy is not a cautionary tale of poor money management, then I don’t know what is.  We have to trust our financial managers to effectively manage our money, our wealth, and our budgets.  We also have to trust them to tell us when we are making mistakes.  Set a budget and stick to it. We should also always give ourselves a financial buffer to make sure that we have an emergency fund in case something unexpected pops up.

Be Cautious of the Good Life. Young people who come into a lot of money have the tendency to let their finances get out of control.  I know I did.  The first year that I made a 6 figure salary I went on 3 vacations, refurnished my apartment with luxury electronics and furniture, and soon after bought an overpriced car just because I could afford it. Major League Baseball Star Lenny Dykstra loved spending his money on expensive cars and expensive real estate.  This unhealthy spending habit eventually created $50,000 of assets and $50 million dollars of liabilities.

“While millions sound like they’ll last a lifetime, purchase like that will wipe them all away in a hurry.” To view the full article please click here.

(Photo by Ndrwfgg)

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