Filed under: Finance, World wide web, Features, Social Software, DLS Podcast, web 2.0

SXSWi 2008: Freshbooks talks to Download Squad from Download Squad on Vimeo.

We’ve written about Freshbooks — the on the web invoicing system — before and have been massive fans of their approach and service. We were even more impressed upon meeting Saul and Sunir, two of Freshbook’s team members, at SXSWi 2008.

Grant talked to Saul and Sunir about the service, the importance of community and traveling from Miami to Austin in an RV and stopping along the way to eat breakfast, lunch and dinner with customers.

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Filed under: Debt

Most of us look at getting out of debt as an exercise in restraint — giving up consumption to improve our financial situation. It’s the financial equivalent of eating a plate full of broccoli.

But Hersh Shefrin, a professor of behavioral finance at Santa Clara University, told the New York Times about a new way of looking at debt. By paying off high interest debt as quickly as possible, you reduce the amount you’ll have to spend each year servicing the debt — freeing up thousands off dollars for other things, including conspicuous consumption, if you must.

Think about it this way: If you have a debt of $1 thousand with an interest rate of 20% APR, you’ll spend $200 per year servicing the debt — without even touching the principal. But if you can pay it all off now, you’ll have an extra $200 per year to blow on collectible plates or $55 dollar video games.

The emerging science of behavioral economics provides great strategies for improving your financial life. To lean more, check out Bert Whitehead’s book Why Smart People Do Stupid Things with Money: Overcoming Financial Dysfunction.

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Filed under: Debt

Most of us look at getting out of debt as an exercise in restraint — giving up consumption to improve our financial situation. It’s the financial equivalent of eating a plate full of broccoli.

But Hersh Shefrin, a professor of behavioral finance at Santa Clara University, told the New York Times about a new way of looking at debt. By paying off high interest debt as swiftly as possible, you reduce the amount you’ll have to spend each year servicing the debt — freeing up thousands off dollars for other things, including conspicuous consumption, if you must.

Consider it this way: If you have a debt of $1 thousand with an interest rate of 20% APR, you’ll spend $200 per year servicing the debt — without even touching the principal. But if you can pay it all off now, you’ll have an extra $200 per year to blow on collectible plates or $55 dollar video games.

The emerging science of behavioral economics provides great strategies for improving your financial life. To lean more, check out Bert Whitehead’s book Why Smart People Do Stupid Things with Money: Overcoming Financial Dysfunction.

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Filed under: Debt

With the housing crisis, credit crunch, and slowing economy threatening the financial lives of Americans just getting by, a lot of people are looking for solutions to their debt.

Debt consolidation programs and the like offer hope to some but for those looking for a long-term solution to financial problems, something more is needed: a focus on changing the behaviors that led to financial woes in the first place.

Founded by participants in Alcoholic’s Anonymous, Debtor’s Anonymous offers a 12-step program and support group for people struggling with debt. Debtors Anonymous members are encouraged to keep track of each dime that they owe, spend and earn, based on a belief that many people who have problems with debt suffer from “terminal vagueness” and “compulsive inattentiveness” to their financial lives.

For more, check out the website and the group’s book, Currency of Hope. If you think you may have a problem, try this 15 question quiz, and visit this page to find regional sites to locate a meeting in your areas. With over 500 meetings in the United Says and 12 other countries, you shouldn’t have to travel too far to find help.

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