One group of students recently expressed their concerns in a demonstration at New York University’s Washington Square. The group characterized themselves as “Casualties of Debt.” and their objective was to foster more understanding of their situation. Among the figures they tossed up for review: The amount of outstanding student loans in America surpassed credit card debt for the first time in August 2012. The indebtedness inevitably eats into the prospects of the better earning power they are trying to build, they complained. NYU, incidentally, leads the nation in student debt at $659 million and growing.

College tuition continued to rise even when other industries were cutting prices to accommodate a sluggish economy. During the 2008-09 school year, in-state tuition at public schools rose by 6.4 percent, while out-of-state tuition jumped by 5.2 percent. At private four-year universities the increase was 5.9 percent. College graduates are leaving school with major debt and, at this point in time, at least, moving into a depressed job market plagued by high unemployment, making the promise of increased earning power just empty promises for many of the graduates.

The New York demonstration, which was supported by MTV personality and filmmaker Andrew Jenks, may have had minimal impact, but it is an indicator of unrest among students and among those who would like to be students, but whose current personal finances don’t allow them to pursue the education that they are convinced would enhance their future earning power.

Eliminate Debt: To go straight to the heart of the problem, there is a free website, ReadyForZero.com. It links to your credit cards, loans and bank accounts, totals what you owe and estimates how long it will take to pay off your debts, depending on the interest rate of each account. A sliding bar of what you can pay each month shows dynamically how you can shorten the time to pay off everything, and save money in the process. Even a small extra amount added to monthly payments can make a difference over time. ReadyForZero’s graphs show at-a-glance how you can improve your economic health. The program was originally designed with credit card debt in mind, but it has been expanded to include other types of debt. It includes recommendations for improving your overall financial picture, such as calling credit card companies to arrange different statement dates to accommodate your income pattern.

Pay Bills On Time: Late fees not only cost you dearly, but they can damage your credit rating. Pageonce.com has a mobile application that is designed to keep you on track with payments, according to the site’s COO, Steve Schultz. The company is a “financial nanny,” he said, that warns when payments are due and collects monthly statements into a single, convenient place. The greatest advantage is the ability to pay directly from your Android or iPhone. That’s particularly appealing to those who travel for their business and tend to lose track of payment dates. The fee for the mobile bill-pay feature is $4.99 per month.

Plan ahead: You can get even more support in budget planning, bill notification and financial advice through Mint.com, considered by many to be the most mature app and service online. The software is free and it tracks bills and accounts to give you detailed expense balances. It automatically categorizes certain charges or fees under headings such as “shopping,” “alcohol and bars” or other expenses common to your individual spending patterns. It shows how much cash you have on hand, how much credit card debt and what your cash flow looks like. Mint is available for Android and iPhone handsets and has an extensive website. The software is not, however, integrated with the desktop software of its parent company, Intuit’s Quicken.

Quain suggests hiring a coach if you are serious about getting a handle on debt. That could involve signing up online and sharing details of your financial standing with a third party. If that’s a leap of faith greater than you feel comfortable with, try DebtCoach at Bills.com. The site doesn’t require you to post private account numbers, just the overall data. It may suggest that you seek professional help or simply take steps such as increasing payments, reducing spending and paying off debt early, depending on the depth of your problem. Handling debt is an individual matter. It’s a different problem for a recent college graduate, for instance, than for earners who have a family to support. Look for advice from those who recognize these differences.

Here are 10 New Years’ Resolutions that will help you get your finances back on track.

1. Know What You Want

Write down what you want this year. Knowing what you want will give you goals to shoot for and reasons to save for those goals. Keep a list of the things you want the most and target them by not overspending on things you think you have to have but don’t really need.

2. Kill Your Debt

Take a good look at what kinds of debt you are carrying. Evaluate whether you are able to do anything about them this year that you weren’t doing last year. Are there numerous credit cards that still have outstanding balances? Can you consolidate any of them to the lowest interest credit card. Can you make a long term plan to get rid of this type of debt? How long will it take you? Be sure to work on paying them off, not making minimum payments. The credit card companies love it when you do that because they make more money from you.

3. Pay Bills On Time

Nothing can hurt your credit more than paying bills too late. Not only do you loose money when this happens, you lose in your credit scores. That will hurt you when you try to get a loan for a home purchase or a business loan.

4. Plan Ahead

Planning helps in most areas of life, but with finances planning is key to your long term security. Talk to a financial planner to help you with estate planning. Forecasting what you will need as you age is critical to do while you are young. The longer you stick to your plan, the better returns you will get.

5. Monitor Your Credit Report

Keep an eye on your credit report. You may think that everything is alright, but you really need to make sure. Unexpected reporting errors do happen all the time. Make sure it isn’t happening to you.

6. Track Spending

You have probably heard this a million times. Some people do this with ease, while others struggle. If you have a hard time writing things down as you spend cash, make it a habit to use your debit cards for spending. You will be able to categorize your spending much more easily this way. You can also use your personal checks to act as a record of spending. Just make sure you can evaluate what is going out from your hard earned dollars.

7. Reduce Expenditures

This seems obvious, but are there areas that you don’t really need to be spending money on? Are you dining out too frequently? Take a cooking class to make your home cooking taste better so you won’t want to go out as much. Just look at things you can live without and do it. Live without it.

8. Make Money Doing What You Love

It doesn’t take a rocket scientist to figure out that you are going to do what you love to do so why not figure out a way to get paid for doing that. When you love what you do it hardly feels like you are working. Time goes by quickly and you tend to improve your skills along the way.

9. Use Financial Software

There really is no excuse for being in the dark about where your money is going. Free websites like Mint.com will help you set a monthly budget, set financial goals and help you to save money by alerting you when you are getting charged fees through your bank. Many people use Quicken software or Quickbooks to help them get organized. The price of the software is worth it to gain some peace of mind and financial plans.

10. Read A Book About Finance Every Month

Although this is the last of the resolutions, it is probably the most important. There are hundreds of books out there that can help you at any stage of your financial planning. The more you know, the better you can plan for financial security.

Fun T-Shirts By Life Is Crap

So, what’s a person to do? Paul Wheeler believes the only answer is laughter. The whole focus of his company — predictably named Life is Crap — is to take the inevitable, put it up front and visible and laugh it off. “It’s our mission,” says Wheeler of his Manchester, Vt., company. Together with his partner, Ken Lefevre, they have successful brought the company to the marketplace.

“Everything we do revolves around the idea that crap happens and that laughter is the cure.”

That means the message shows up on T-shirts, caps —anywhere an individual can make a statement on the way things are in this troubled world. The company is now expanding into checks that give folks a frequent opportunity to reflect on the vagaries of life and apply their sense of humor. “We’ve seen what works, now we’re scaling up. We’re always looking for ways to expand.” Always within the boundaries of the basic concept, he adds. That careful attention to sticking to initial principles has turned Life is Crap into a $10 million dollar enterprise.

If you ended up with a bad split in the bowling alley, there it is—a shirt showing the ball rolling easily between the two widely separated pins. Out of wine? Lament the fact with a public display of the empty glass. The bicycle depicted crashing into the pile of dirt at the bottom of the hill? It has happened to all of us. Wheeler and crew simply take the universal hazards of everyday living and put them out there where everyone can laugh along. The company customizes such items as magnets, books, calendars, shirt, caps, towels, hoodies, key rings, shot glasses, beer steins, decals, greeting cards, page a day calendars items— any desired surface that will accommodate an image.

Looking at the irritations of life might seem like a negative approach, but those who retail his products don’t seem to mind, Wheeler has found. No one has ever complained. Of course, that means finding the best outlets for Life is Crap merchandise. Someone lacking the sense of humor to appreciate the products, obviously, isn’t the one to present them to his purchasing public, Wheeler has found. The bah-humbuggers who refuse to find humor in life are to be avoided. And there are, believe it or not, some “crap” areas that don’t translate well to the buying public.

There have been some bombs along the learning curve. The company thought that politics was a logical target for its kind of humor and found that, in fact, no serious person of any political persuasion wanted anyone publicly poking fun at their well-known areas of crap. That venture was a failed effort that cost time and money, he said.

Another spot too sensitive to subject it to humor, the company found, is the current economy. No merchant wanted his customers reminded that times are tough. The popular idea of what’s funny changes with time and events, Life is Crap has found, but there is always plenty of grist for its mill in just the ongoing, everlasting irritations that humans endure. The company expects to continue to thrive on items that make the enduring easier.

The whole road to success, Wheeler said, has been a process of trial and error. When the group started, they were up against the same basic questions each new small business faces. How to put their ideas into concrete products. How to find the best business model to meet their goals. How to allocate the existing resources most effectively. Where to find the most effective market outlets. They spent a year in development.

To date, the company has developed some 500 images, licensed them and marketed through over 1100 stores. As the small business got a toe hold in the market, the next logical step was putting the goods online, he said. “We buy back product from the manufacturer and sell it online. We’ve done well and have seen it grow. Now we are focused on getting traffic to our site.”

The basic concept for Life is Crap requires employees who are in tune, he said. The group is small—just five employees—but they comprise the gamut of artistic and business savvy that is making Life is Crap a growing concern. Being constantly alert to possibilities has contributed to the growing of the company’s product lines. Pure serendipity, in fact, had a hand in bringing designer checks into the fold. Wheeler, et al, met the owner of Carousel Checks during a trade show. There was an exchange of ideas and voila! Another licensing arrangement was born.

In 2012, the company will be focused in building and expanding our direct to consumer internet business. New products to be launched include several other related sub-brands: Life is Poop — for infants, Life is Ruff for dog lovers, Old Life is Crap for Senior Citizens, College Life is Crap for College Students and Life is Beer — for BEER LOVERS.

The fact that life is crappy is not likely to end soon. There is always the bird overhead looking for a place to unload. That bodes well for Wheeler and Life is Crap as they look for new targets for their brand of humor.

It is critical for anyone that has had thoughts of hurting themselves or others to seek out the care of a doctor or mental health care professional. They will be able to offer a proper diagnosis and help develop a care treatment plan. In conjunction with a doctor’s care, it is also important to get to the root of the problem. If the root of your depression is seemingly insurmountable debt, a debt relief counselor can help assess your situation.

A debt counselor can offer just as much help in lifting depression as a doctor or psychologist can if debt is your main source of stress. They will take note of your financial crisis, develop a plan of action to start managing your debt and a budget that will help you avoid new debt and financial pitfalls in the future.

Financial stress can, at times, feel unbearable. Whether you are stuck in a cycle of late payments, growing credit card debt or you unexpectedly lose a source of income, it can negatively impact all aspects of your life. This allows depression to take hold as you feel a distinct lack of control over your situation.

The brain does not always think logically during a depressive phase and debt that can be successfully managed looks like a never ending battle. Some people feel they cannot face a battle that seems like it offers no way out. That is why it is so critical to seek outside help if you or someone you love exhibit any signs or symptoms of depression.

Seeing outside help through a debt relief counselor is one of the best things you can do for yourself. Many times, just the act of asking for help can make you feel more in control of your situation and lighten the dark cloud hanging over you. A debt counselor can help you determine the best course of action to begin paying down your debt and recognize any areas that you may be able to save money in order to maintain you living within your means.

Being in debt can feel like a heavy burden around your neck, but there is help out there and often it is just a phone call away. You do not have to wait to hit rock bottom before seeking help. Debt should not be a source of depression or anxiety, but an opportunity to better your situation by taking control over your finances once and for all.

You can tackle your personal finances by first recognizing that it is a problem beyond your means and acknowledging you need help. Climbing out from under deep debt is not easy and it does take commitment and some sacrifice, but you will be better off accepting that and deciding you are willing to fight rather than give up because of money problems. There are solutions out there that will work for you.

Guest post by Suzan Bekiroglu

Consider the woman, then 16 years old and skinny, who received a size 40-D bra from her Granny. If she had followed that glib notion that “when life gives you lemons, make lemonade,” she could have hung it on the wall by its straps and used it to store oranges and apples for treating Christmas guests. Granny had been through the Great Depression. Well, truthfully, she hadn’t ever quite fully gotten through it and she was an inveterate bargain shopper who couldn’t pass up the scaled-down price tag on the super-sized undie.

In her philosophy, it was the thought that counted, not the size, as she spread joy and cheer for the holidays. The girl could grow into it. (She never did.) Granny’s family members were used to receiving unusual items from the thrift shops and bargain bins. It became a game to see what came next and no one was surprised when, one year, what came next was what had been gifted to Granny the year before. In the end, 364 days of loving interactions couldn’t be swamped by one day of off-the-wall Yule gifts. Besides, the insanity of Granny’s unusual gift-giving was cancelled out when the frenzy of opening presents was over and Grandpa whipped out the envelopes with crisp new $50 bills inside. Life tends to balance out somehow.

Actually, the idea of re-gifting makes some sense. If you have items you’ve received that have no use but to gather dust on a shelf, why not? The trick is to remember from whence the gift came and avoid shuffling it back to the original purchaser. Like the friend who sent a special card to her father one Christmas only to receive it back with his signature the next year. That can cause consternation. And if the gift you got was really so horrible that you don’t want it in your house, what makes you think anyone you know would like it in theirs? Reminds me of the sisters who for years passed a fruitcake (long since hardened to concrete status) back and forth. Disguising the disgusting bit of undigestible comestible so it would come as a surprise on Christmas morning became a challenge. If the thing had not finally disintegrated, it probably would still be making the round trip every other year dressed in every imaginable disguise.

Speaking of lingerie, it seems to be a favorite inappropriate choice with some gents who are gift-giving impaired. A faux zebra-skin teddy for a body that has more wrinkles than the Grand Canyon? Or the hot pink number with a juvenile print that sports matching pink slippers for the wife who is expecting in January? Help! On the other hand, such dainties would look pretty good to my daughter who once received a crankshaft for her ailing car on Christmas day. Or the woman who got a new barbecue because her husband wanted a barbecue. It’s one of the fatal mistakes of giving presents—buying something you are sure the recipient will like because it’s just what YOU always wanted. It can seem so right.

Some men, unfortunately, don’t get the picture when it comes to gifting. What’s a woman to do when she plants her list in big letters on the refrigerator, repeated on the car dash and in the bathroom and the message never penetrates? No wonder there are those like the one I once served when I was working in a large store wrapping packages for Yule shoppers. She had a large pile of things waiting for dressing in cheery holiday paper and—she requested—lots of bows. Making what I hoped was genial conversation, I asked if she had a big family to shop for at Christmas. “Oh, no,” she assured me. “These are all for me. Now I know I’ll get what I want.” Served her purpose, I guess, but felt a little lacking in the expected joyful spirit of giving—and receiving— that the season ideally generates.

Kids are great gift-givers. When mine were small, they never had much money to spread among those on their lists and that led to some strange packages on Christmas morning. Such as the empty thread spools—individually wrapped, of course—that showed up under the tree one year. Or the toilet brush. Now that was a gift with feeling. Using it all year round brought warm memories of that Christmas Past. Of course, there was the year I got little pieces of Christmas wrap wrapped in Christmas wrap. Really tight budget that year. Then there was the year I got a very nice —very cheap—little statuette of the Virgin Mary, although my religious sensibilities don’t lie in that direction. I had seen it on sale in our local all-purpose shopping emporium at $1.49 and knew that was a real sacrifice for my little Brian. For many years, the statue was part of our Christmas decor until in some move around the country the cheap plaster disintegrated from the stress. I missed it when it was gone.

A poet once said it best: “The gift without the giver is bare.” Gift it or regift it, but give it from the heart.

Even those who manage to keep a lid on Christmas shopping during the early days of the shopping season sometimes find the temptations too much in the final days leading up to Dec. 25, credit counselors say.

Merchants —literally— bank on it. They offer last-minute bargains designed to bring the shopping throngs through their doors. Free photos with Santa, holiday food samples, special in-store events, buy-one-get-one-free deals are all crafted with the buyer —and his wallet—in mind. Keep firmly in mind that nothing is a bargain if you can’t afford it. Keep your Christmas shopping budget in mind.

Experts offer several strategies to help you avoid temptations during the final days of the annual frenzy.

Stick with the budget you made to begin your shopping spree. Avoid the temptation to add to your list or fudge a little on what you planned to spend for each recipient. Trying to be Santa to too many is a sure-fire budget-buster. Be a friend all year round instead. Biting off more than you can reasonably chew is a sure way to take the ho-ho-ho out of the holidays.

If last-gasp gift requirements do pop up, consider gift cards. They’re more convenient and less time-consuming than looking for bargains. The longer you spend in a place of merchandising, the greater the temptations become. If you go, have specific items in mind, find them, pay for them and go home. Browsing only gives you time to weaken.

Remember that groceries are part of the equation. The come-ons in the grocery aisles can be as tempting as those in other stores. Plan what you want to offer family and friends and stick with it. A cupboard full of crackers is not a particularly good Christmas leftover.

Shift your focus to other things. Avoid the stores. Think of places to go to celebrate the season without the urge to lay out cash, checks or the plastic. Remember for whom the till tolls. It tolls for you. Find some good entertainment that doesn’t involve walking through a mall. Or throw on the holiday music and spend some feet-up time. Contemplate the good things about the season, spending aside.

Avoid credit cards. Leave them home if you are venturing out. In extreme cases, have someone you trust put them away for the duration.

Communicate, even if it is belatedly. If the first 11 months of the year were tough, leaving your Christmas budget on the thin side, say so. Share your situation with relevant family members. Look for unique gifts that won’t break the bank. A little of your time may be more appreciated than a lot of your money. Chances are that if you talk with others, you’ll find they are hoping to cut back on their Christmas outlay too.

Use some of the time you are saving by avoiding the stores to look ahead to next year. Plan in advance to keep expectations reasonable and to make the season fit your situation. Plant firmly in your mind this year’s temptations for last-minute spending and recognize it when the same thing happens next year.

If you have been sending out news releases to alert the media to new products or events without much success, here are some suggestions that might land you in the public’s eye more frequently:

Know about current events in your community and see if there is a way to relate them to your company’s products and activities. Look beyond the community, in fact, to what’s in the news in your state, the nation and internationally. Media outlets are always looking for ways to make out-of-area news more relevant by relating it to what’s happening locally. Things from the outside may, in fact, affect what you do. Let the media know that. The issue of employment is currently hot-item for news reports, whether you’re up or down. In most cases, the old saying that “any publicity is good publicity” still holds true.

Look for unique stories to tell. Within your ranks there may be good human interest stories that will get your name into the media. Many in the media refer to such “human interest” stories as “fluff,” but they nevertheless are always on the lookout for good ones. Be aware of special stories inherent in those you work with. Some of them may be dealing with unique family problems or have talents that would merit media attention. Is your company involved in charitable causes? Are there members of your group who are in the military? Plumb the depths and see what you can find.

Be as professional as possible. Press releases that contain typos and blatant errors usually end up in the trash can. Few reporters are willing to make a call to try to clarify the press release. Have two or more people proofread the press release before sending it out. Make your releases good to look at. Be certain each release has all the germane information, such as dates, times, etc., and include a telephone number or e-mail address that will direct queries to the person with the information.You might want to put together an informative packet that a news organization can put on file for future reference. Showing up in a media office in person to pass such a packet along couldn’t hurt.

Getting acquainted with the business writers/editors is helpful. And understanding the newsroom process is invaluable. You will impress those you hope to cultivate if you understand the realities of deadlines and the hierarchy that puts an editor more directly in charge of the day’s content than a reporter. An assignment editor usually is the nerve center of a newsroom, making many of the decisions on what, where and how items will be placed. However, it is the reporter who puts together that content. Develop relationships where you can, but don’t expect special favors. Remember that the number of choices editors and writers have on any given day far outstrip the available amount of press space or air time. Avoid last-minute notice of timely events if you want media announcements.

A picture may be worth a thousand words. But be sure photos, video or audio bits are good ones. Don’t waste the photo editor’s time. Provide good photo opportunities. and describe them well so reporters and photographers/cameramen are not wandering around at a loss. Remember that the media is almost always in need of information before the fact, except in “live” story situations. If you call during your company’s big event , don’t expect a news person to arrive in time to clean up the dishes.

Buy advertising. Then when a news event relates to what you do, the editors and writers will remember your business name. Ad purchases do not position you for favoritism or guarantee spots in the news columns, but they make your name familiar.

Deadline is a firm fixture among the media. Be efficient, flexible and respectful in your interactions. In most cases, reporters have one day to turn around a story. If you miss an interview, it may not be convenient to reschedule soon. If you cannot meet a request for an interview, try to find someone else in your organization who can. Good old fashioned manners work with the media, as with anyone else. Some of the media, granted, have reputations for being pesky. But if you react in kind, the chances are that the word will get around the newsroom, squelching your chances for future favorable interactions.

Don’t just expect to deal with media issues when they arise. Work on a strategy and have a plan. Develop the relationships that count and understand how the media works. You may find yourselves in the headlines more often.

Some say that the mortgage interest deduction —the biggest break available to many American taxpayers— is sacrosanct and not likely to be scrubbed.  But there is the lingering memory of the time when interest on all debts, not just a home, could be deducted when tax preparation time came around. Interest on credit card debt, car loans, student loans and other large-ticket purchases could be taken out of the final tax tally.  In the mid-1980s when they were eliminated, then-President Reagan pled for retention of the mortgage interest deduction or it may have met the same fate. Reagan defended the mortgage interest deduction as a factor in promoting home ownership, one of the prime elements, he claimed, of the “American dream.” The fact that those other interest benefits were axed is enough to make taxpayers wary as the debate heats up again.

The Joint Congressional Committee, in its widespread look at all the possibilities, noted that the mortgage interest deduction cost the country’s tax coffers some $90 billion in 2010. According to IRS figures, 51.1 percent of all homeowners in the United States claimed the deduction, while 31.6 percent did not have a mortgage and 17.3 percent  didn’t claim the deduction.  The loss of the deduction would be highly unpopular with a large portion of the population and it certainly would be a hard-fought battle.

Although American homeowners have come to expect this tax break, few comparable countries—Australia, Canada and Great Britain among them—do not provide their taxpayers this advantage. They might wonder what behavior the U.S. would be trying to encourage by removing the benefit. Rentals as a preference over home ownership?

Appearing before the U.S. Senate Committee on Finance recently, Robert Dietz, an economist and vice president of the National Association of Home Builders said removal of the home interest benefit would increase the disparity in economic income and cause further shrinkage in the middle class.

However, the deduction overwhelmingly favors the rich. The limits are quite high—up to $1 million on a mortgage’s value and an additional $100,000 for home equity loans. The amount that can be deducted does not fall as people’s incomes rise. Someone with two or three homes falling under the $1 million limit significantly benefits.  It hasn’t become an open issue yet among the people who support movements such as the Occupy Wall Street line of thought, but it could if the tension between the haves and have- nots intensifies.

Most experts agree that in the current housing market, elimination of the mortgage interest break could exacerbate conditions that already are problematic. The effects of the deduction are not the same everywhere in the country, but the many factors that will enter into any debate on the matter tend to be emotional, especially among those who  teeter on the edges of being able to afford a home.

Experts say there would be some trade-offs. A spokesperson for Moody’s Analytics noted that the tax deduction is written into the cost of a home. Its elimination would  have a negative impact initially, especially  in higher-end housing. On average, its demise would cost a taxpayer no longer able to claim the deduction about $2,400 a year in additional taxes.

No one knows where the current rancorous stalemate in Washington will lead. But it seems inevitable that the debate over finances portends study of every element of the current tax system. And the conversation in today’s financial atmosphere is likely to focus more on federal revenues than on what the mortgage interest deduction is supposed to accomplish in behalf of home ownership.

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Common Depreciating Assets

Timeshares: Many people purchase them without realizing the money holes they can become. Unlike the majority of standard real estate, most timeshares lose 50 percent of their value immediately upon their purchase from a resort. Additional depreciation, up to 90 percent, occurs over the next few years.

Boats: There is a reason why boat owners often lament that the two happiest days of their lives were the day they bought their first boat and the day they sold that same piece of property. The dream of boat ownership is quickly absorbed in the reality of the expense such ownership entails. Boat rental may seem an expensive alternative, but it is usually far less expensive than to own your own. Your own boat is usually a depreciating asset you could do without.

Recreational vehicles: Just like cares and boats, RVs love a large percentage of their retail value the minute you depart from the dealer’s parking lot and they continue to lose value as they age. Few people use RVs as much as they expect to when they plunk down the purchase price. Add the costs of gas and the space rental many people have to pay for the RVs when they are not in use and ownership doesn’t make much sense.

Luxury cars: There is not much chance of avoiding a car purchase forever, but keep in mind that it is a depreciating asset. To get the most out of your purchase, focus on what you really need, not what suits your ego or what will keep you in the running with the Joneses. A used car in good condition has already seen much of the initial depreciation priced out. The corollary is someone who wants to have the benefit of gold’s stability and buys jewelry instead. You can’t have it both ways.

Electronic Gadgets: They not only depreciate, they do it quickly. Owning the latest and, purportedly the greatest in computers or electronic gadgets may be popular, but it also is the least cost-effective option. The latest models always come with a premium price. Last year’s model is usually just as effective for most people. And last year’s models will be heavily discounted as soon as the new model appears on the horizon. Make sure your purchase checks out with your wealth building plans.

The prospect of any large purchase should trigger the question: “Do I really need this?” If the answer is “Yes.” proceed wisely. Opt for the product that fulfills your actual needs at the best possible value. Depreciating assets eventually affect your finances, so avoid them when possible and consider devaluation as one of the factors to evaluate as you make your purchasing decisions.