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Money in the News: When in Excess

Free Money Finances emphasizes using self-control when it comes to your finances.

Live Real Now gives advice on how to prioritize your spending.

2. Does it serve a purpose? I bought a vase once that I thought was pretty and could hold candy or something, but it’s done nothing but collect dust in the meantime. It’s purpose is nothing more than hiding part of a flat surface. Useless

Care2 posts a story about how one couple foreclosed on a bank of america branch, after they attempted to foreclose on their paid-for house.

When Bank of America lost the foreclosure action they were ordered to pay the couple’s attorney and court fees, since it was Bank of America’s error that brought the action in the first place.

Instead of paying those fees promptly, Bank of America let the bill sit for over five months. Tired of banks getting away with actions that can throw an average citizen in jail these days, the couple and their attorney had a stroke of genius. They foreclosed upon the bank.

The Consumerist posts about President Obama popping into an online summit on Personal Finance, and offered some advice and his take on the economy and how it compares to our personal finance.

Between unemployment, school debt, the housing problem and — for a growing number of people — having to care for elderly parents, the economy can be a “quadruple whammy,” it’s more important than ever that people have “spending discipline.”

Money Crush lists 10 things you should never spend money on.

Late fees: There is no excuse to paying these. If you are paying late fees, please take some time this month and get organized. If you have bills that are due at weird times of the month and this is throwing you off then you need a budget and an emergency fund. A couple of hundred dollars in the bank will save you from ever having to pay another late fee.

About Crystal Groves, Google+

Crystal Groves is a farmer, web developer, musician, blogger, and personal finance enthusiast from the back hills of Maryland and Pennsylvania. She started Money Drain as a project to encourage people interested in fixing their financial situation to share their stories and learn from the stories of others. We all make mistakes, but in order to change we have to make changes.

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