The American Status Symbol

Picture this….Beautiful woman, handsome man, elegant restaurant. And, at the end of the romantic dinner the bill comes and the credit card gets placed on the tray while the couple smiles at one another.

Or this….Family vacation, smiling kids, loving couple, happy memories. Priceless, and for everything else there is ……..

When did borrowing money become the American Status Symbol? Past generations would have rolled in their graves at the thought of borrowing money for lavish dinners and expensive vacations.

Who was responsible for making borrowing money the American Status Symbol? The banks, of course. They sold the image that borrowing money was the fastest way to the high class life style that appeals to our hopes and dreams. And all this can be yours for only a signature. Can’t get much easier than that. How did they do it? Commercials, of course. Almost a whole generation of Americans is now digging their way out of debt because of fantastic commercials.

Now as we struggle with the bills, cut back on the necessities, and possibly lose our homes the memories are still good but the price we pay is much higher than we expected. And, most of the commercials have stopped. Did you notice that?   (Chase does have a new catchy one so watch out before you start singing along.  If you start humming "Something tells me I'm in for something good"  watch your wallet.)

The American Status Symbol. The Credit Card. Borrowing money. Let’s find something new.

In The Trenches - Brainstorming - Ideas, Input, Advice

The 80’s were a great time to be a woman in the corporate world. One of the things that made it special was that there was a big emphasis to move away from the manager knows it all thinking to involving people at all levels to participate in finding improvements and solutions to the challenges that we faced. One of the popular strategies that was introduced was Brainstorming.


The facilitator would stand at the white board and write while the group would fire off things that popped into their minds pertaining to the topic. No idea was classified as bad or good in this initial list because sometimes a bad idea when presented would get someone else to think of a better idea. It was all part of getting creative and looking at situations with new eyes. By the way, we had NO problems – we had either challenges or opportunities. Because we approached things that way we came up with some ideas that were not just good, they were great!

What's different about In The Trenches?

There are many very good budgeting books, programs, and software available. So what makes In The Trenches different?

In The Trenches was written specifically for those who are going through transitions in their finances and would benefit from making changes.

In The Trenches will help you during the transitional times and the ideas can be used with your current budgeting methods or as a starting point for those who are new to the whole budgeting process. The charts and forms will help you review and analyze your own situation and help you figure out what is your own Minimum Basic Budget.

Just as you would not want only one tool in your toolbox In The Trenches is another tool to go with your current budgeting method, research, blog information, conversations with friends and family, and professional help. It will help you get though those hard times that may last anywhere from a month, to a year, and many of the principles you will want to use for a lifetime.

Who would get the most benefit from In The Trenches?

• The unemployed.
• Those who are making less income than last year.
• Those on a fixed income.
• Those living from paycheck to paycheck.
• Behind on bills.
• Looking for more tips on frugal living.
• Low income.
• Those who have a large amount of debt or medical bills.
• People with fluxuating incomes from seasonal or independent work.
• Planning for a maternity or medical leave.
• Wanting to reduce expenses to start saving or investing more.
• Just about everyone right now. 

When I was in banking it was my job to review procedures and budgets to determine cost savings areas and productivity improvements. When my father became terminally ill I resigned from this position to be at home. This decision combined with other unforeseen circumstances put us in a financial tailspin. We were quickly in a new place with new challenges, obstacles, and opportunities.

It was during this time that I developed my In The Trenches methods and later began to write the book to share with others some of what I had learned in the process.

If you know anybody in these situations In The Trenches can be ordered through Amazon.com, Barnes and Noble, or many other online book stores. Don't take my word for it, check out the reviews on the next page.  I hope you will consider picking up a copy today for yourself or a friend. Just click the book on the left and it will take you to Amazon.

five-billionaires-who-live-below-their-means: Personal Finance News from Yahoo! Finance

five-billionaires-who-live-below-their-means: Personal Finance News from Yahoo! Finance

When we think of being frugal we often think of poor miserly individuals and the picture is not something we aspire to be. This is a misconception. Frugalness at it's heart is WASTE NOT, WANT NOT. In doing this we are free to acheive more that we would have imagined.

In The Trenches has a chapter called Millionaires Among Us that lists the qualities that I have observed about the millionaires that have been in my own life. I think you will find some surprises.

The article above shows another five who have achieved success that most of us cannot imagine and have done so by LIVING UNDER THEIR MEANS. (see related blog posts on this subject)

I am now reading three books at once. One of them is The Millionaire Next Door. And, guess what? Yes, the majority all follow the same pattern.

So, if you are looking for some role models on your journey to Frugal Living don't look to those who seem to have nothing, look to those who are now enjoying the fruits of their success.

Seven GOOD things about a BAD Credit Report.

For years we have believed that one of the most important things about our finances is our credit report. The reason we believe that is because we are constantly deluged through the media with advertisements about our credit score. It makes us feel special when banks send us multiple credit card offers that lead us to believe that we are financial savvy and sound. We believe it because we can go into any car dealer and drive away with a brand new car. We believe it because we have been led to believe it.


WHAT WE FORGET IS THAT EVERYTIME WE USE CREDIT WE ARE BORROWING MONEY and LIVING ABOVE OUR MEANS. I’m tempted to use many exclamation points here but hopefully the capital letters will make the point. If you don’t get anything else out of this post this point is crucial: USING CREDIT CARDS IS BORROWING MONEY. I know we know it with our minds but we don’t get it with our habits. Our attitude has become casual and reflects a play now, pay later lifestyle.

So your credit score is in the tank. How is that good news? You want to get out of debt don’t you? You want to live within or under your means don’t you? So, here is the first good news to help you achieve your goal. It’s the dead end sign before going off the cliff. Here’s seven specific ways that having a bad credit report can be a good thing for you.