Menu
Personal finance
Burger King slims down for success
The Penguin-Random House merger: 3 takeaways
Dunkin' weathers storm to attract crowds
Inside Wall Street: Bank weathers its own storm
How Sandy will affect shipping business
The whopping US rally that wasn't
Disney acquires Lucasfilm for $4B
Late-inning earnings plays
Gilead's 'son of Viread' passes first test
Auto sales expected to stay strong into 2013
Why Yamana shares are soaring
Archer Daniels Midland is boring and cheap
Stericycle finds treasure in trash
Don't follow Icahn into Netflix
How to trade the US presidential election
David Einhorn is shorting iron ore
What's next for Exxon after Rosneft buy?
Who's right, Main Street or Wall Street?
Hershey shareholders sue for child labor records
China's growth picks up
Europe offsets Johnson Controls' Asia gains
CSX took too heavy a beating
In retail, pessimism doesn't pay
Illumina should reconsider Roche's offer
7 ways to commit financial suicide
I recently got back from a vacation that included a family wedding on the central California coast and a sightseeing trip around the San Francisco Bay area.



Of course, one of the most popular attractions in San Francisco is the beautiful Golden Gate Bridge. It's absolutely breathtaking to behold in all its majesty.



The gorgeous span is also an extremely popular suicide location; more than 1,300 people have jumped off the Golden Gate Bridge since it was completed in 1937.



While most people would never consider committing physical self-destruction, more than a few folks unwittingly choose to commit financial suicide every day.



How so? Here are seven of the most popular methods:



Having children too early

There is nothing more destructive to one's financial future than bringing children into the world without having an established and stable means to support them. Raising children requires a tremendous investment, not only of money, but of time as well. Unfortunately, when those resources are in short supply, it becomes extremely difficult to start a business or gain the necessary experience, on-the-job training and/or education required for the type of career advancement opportunities that lead to significantly increased earning power.



Abusing credit cards

There are thousands upon thousands of careless people who have been driven to financial ruin by burying themselves under a mountain of debt via credit card abuse. In most cases, it's because they lacked the financial acumen and discipline to understand that credit cards must be treated with respect and used responsibly.



Maintaining financial dependency on others

We are constantly being admonished by officials to avoid feeding bears, squirrels and other wildlife in order to prevent them from eventually becoming dependent on handouts. For the exact same reason, I'm absolutely convinced that the longer we stay dependent on government assistance or friends and family for financial support, the tougher it becomes for us humans to achieve financial independence.



Failing to accurately track income and expenses

Trying to get a handle on your personal finances without knowing how much money you are earning and where it is all going is tantamount to trying to drive while blindfolded. People who fail to take the time to analyze their finances typically end up crashing and burning because they lack a means of ensuring they get the most from their income. As a result, they end up succumbing to a severe case of lifestyle inflation.



Setting down roots in the wrong location

Whether you realize it or not, one of the most critical financial decisions you'll ever make is where to live. True, sometimes we have little choice in the matter. However, it's important to keep in mind that choosing to live in a high-cost-of-living locale without the income to support such a lifestyle makes it extremely difficult not only to make ends meet, but also to accumulate wealth over the long haul.



Failing to establish a plan for the future

The young always seem to have more time than money, which is why financially important things like putting aside money for short- and longer-term emergencies -- or feathering a retirement nest egg -- often are never even considered until people approach their golden years. Of course, by then, it's usually much too late. The old bromide really is true: Failing to plan is the same thing as planning to fail.



Marrying the wrong person

Choosing a spouse is another epic decision with major implications. Remember: Marriage is a financial contract. As such, it can be a financially dangerous proposition. There are countless responsible people who ended up bankrupt becasue of the antics of a financially undisciplined spouse. And those who eventually recognize their matrimonial mistake after saying "I do," still often end up paying dearly. The average cost of a divorce is about $20,000, which just goes to show that the people who prosper from a divorce are usually the lawyers.

Для печати
Microsoft will 'die and disappear' in next few years
Whole Foods' freshness starting to wilt
In a war of attrition, Microsoft will beat Apple again
Asbury Automotive sees strong earnings momentum
Student debtors get the runaround
What to keep in your money survival kit
First-date coupon use is on the rise
Groupon offers NYC dinner in the dark
The worst credit cards of 2012
Post-Sandy, banks waive fees
Homeowners spared costly hurricane deductible
7 ways to commit financial suicide
Why are car loans so easy to get?
Best credit cards after bankruptcy
Get more cash for your old clothes
5 fee-free ways to help Sandy victims
After a flood, frugality can be dangerous
After the storm: Rebuild or move?
My unexpected $2,400 vet bill
Best credit cards for holiday shopping
Downside of a higher retirement age
Prepaid cards are not gift cards
Is the economy destroying love?
Financial lesson from a football game
Book Christmas flights before Black Friday
6 ways to earn extra holiday cash
Holiday shopping? Avoid this retail trick
Many holding out for Cyber Monday
SiriusXM drives straight race to $3 a share
Sandy: Beware the bubble in storm stocks
Starbucks: Buy it, own it, love it
4 Canadian value stocks
What's the White House worth?
Stocks are immune to Washington
EMC strengthens RSA business with acquisition
Russia garners another favorable valuation call
Goldman Sachs slashes partnership ranks
Inside Wall Street: Cheers from Bud and Diageo
4 favorites for a housing rebound
Is Baidu's China reign over?
In 2013, Apple, Facebook will fly, Intel will die
Is AOL's turnaround for real?
Stock buyback blitz continues
Anheuser-Busch pushes higher-alcohol beers
Baidu: Searching for growth in China
Twitter vs. Facebook: The war heats up
Would Disney buy Hasbro?
Vending-machine pizza prepares for US debut
Amazon lockers coming to Staples
Are customers becoming less loyal to Apple?
Focus on earnings, not fiscal cliff
Evergreen stocks: 4 favorite dividend ideas