Financial Independence

This week, of course, we celebrated Independence Day. And that led me to wonder: What does financial independence mean to you? Is it paying off your mortgage? (I can't wait to get rid of my mortgage and become completely debt free). Would it mean not living paycheck to paycheck? Having a fat emergency fund? Or is it fulfilling your dream of one day opening your own business? Money Coach and author Lynette Khalfani-Cox recently wrote about how losing her job as a Wall Street Journal reporter doing on-air segments on CNBC gave her the...

"OUR FINANCIAL responsibility has been equal to or superior to virtually every jurisdiction in America. " It is hard to argue with that assertion about the District's fiscal health by Mayor Vincent C. Gray (D). But the robust condition of D.C. finances is the very reason why it would be unwise to weaken the independence of the chief financial officer (CFO), which has played such a critical role in restoring the city's financial health. If anything, the success of the District's experience should serve as a model of...

During my online discussions, people share with me how they are following good money-management principles. As we celebrate the Fourth of July, I wanted to offer some of their testimonies about financial independence. " We are debt-free and loving it. We just paid off our mortgage, and now, to quote a certain someone (you), we got that monkey off our back. We are grateful that we never had any student loan debt and, thanks to my thrifty stay-at-home husband, we have been able to live within our means.

During my online discussions, people share with me how they are following good money-management principles. As we celebrate the Fourth of July, I wanted to offer some of their testimonies about financial independence. " We are debt-free and loving it. We just paid off our mortgage, and now, to quote a certain someone (you), we got that monkey off our back. We are grateful that we never had any student loan debt and, thanks to my thrifty stay-at-home husband, we have been able to live within our means.

I know this is the day before the July 4th holiday, but before you skip town or work, join me for a live discussion about personal finance matters. Who knows, I may be able to save you some money before you celebrate Independence Day. I'll be joined by Bob and Melinda Blanchard , who wrote this month's Color of Money Book Club selection: "Changing Your Course. " To read my review click here. If you feel stalled in your job or financial life, come chat with this husband and wife team, who provide insightful advice...

Whatever filmmaker Todd Haynes is serving, it must be a pretty powerful potion, able to bend top producers, actors, set decorators and the people who run HBO to his will in order to create a luxuriously new "Mildred Pierce" mini-series that clocks in at nearly six hours in length and squeezes every last ounce of disciplined energy from its star, Kate Winslet — to say nothing of the energy it will require of its audience. Haynes has even arm-twisted present-day Long Island into...

The approach of a new decade means a chance for a fresh start with your financial habits. Maybe your loved ones could use a nudge in that direction, too. Either way, it's time to cast out any idea that books about money have to be boring. There's an abundance of well-written, even entertaining books on the market that could make savvy holiday gifts for either the personal finance nerd in your life or that special someone who could benefit from good information. What follows is a sampler of...

TEHRAN -- Ameneh Bahrami once enjoyed photography and mountain vistas. Her work for a medical equipment company gave her financial independence. Several men had asked for her hand in marriage, but the hazel-eyed electrical technician had refused them all. "I wanted to get married, but only to the man I really loved," she said. Four years ago, a spurned suitor poured a bucket of sulfuric acid over her head, leaving her blind and disfigured. Late last month, an Iranian court ordered that five...

Dear Carolyn: My boyfriend and I (both 24, college grads, employed full time) have been together 2 1/2 years. I invited him to move into my condo a year ago; our lifestyles have meshed well and our relationship has grown. The problem is, I haven't told my parents we live together. They have met my boyfriend on more than one occasion, but treat him with indifference (read: don't like him). I need a pep talk on breaking the news because I realize this cannot go on forever. My parents will not approve of our living together, but I am more...

DEAR MISS MANNERS: I have a few friends and co-workers who, when they need to go to the restroom, feel it necessary to announce what they are going to do there ("I have to pee"), as if it makes a difference to me. I have absolutely no reason to know, but don't know how to politely tell them that. GENTLE READER: There are so many charming things you could say: "Congratulations," "Good luck," "Have a good time," "Don't forget to write. " Their announcements, however, would be charming only if...

Even before graduation ceremonies commence across the country, parents who had hoped their adult children would go to college so they could get a better-paying job and set up their own households are realizing a hard truth: Their kids can't afford to live on their own, so they are returning home. Recent statistics from the Census Bureau show that the recession reduced the rate at which Americans set up new homes or apartments by at least half, reports The Washington Post's Michael A. Fletcher . In addition to the Census Bureau findings, a recent Pew survey...

DEAR AMY: My wife and I are 50-plus-year-old parents of an only child in her early 20s. Our daughter has made it clear that since her college graduation and first job, she is now independent and will likely not come back home to live. This is good news, and we applaud her financial independence. The problem at our end is what to do with all the stuff she has left behind — I'm talking about high school memorabilia and athletic awards, as well as miscellaneous artifacts, clothing and accessories that...

DEAR MISS MANNERS: I have a few friends and co-workers who, when they need to go to the restroom, feel it necessary to announce what they are going to do there ("I have to pee"), as if it makes a difference to me. I have absolutely no reason to know, but don't know how to politely tell them that. GENTLE READER: There are so many charming things you could say: "Congratulations," "Good luck," "Have a good time," "Don't forget to write. " Their announcements, however, would be charming only if...

A college education doesn't appear to ward off bankruptcy, as the rate of degree holders filing bankruptcy increased by 20 percent, according to a new study by the Institute for Financial Literacy. The percentage of bankruptcy filers with a bachelor's degree jumped to 13.6 percent last year, up from 11.2 percent in 2006. Filers with a graduate degree jumped to 6.7 percent in 2010 from 4.9 percent in 2006, reports The Post's Ylan Q. Mui .  "We're told that if you do go and get advanced education, you're going to be...

This week, of course, we celebrated Independence Day. And that led me to wonder: What does financial independence mean to you? Is it paying off your mortgage? (I can't wait to get rid of my mortgage and become completely debt free). Would it mean not living paycheck to paycheck? Having a fat emergency fund? Or is it fulfilling your dream of one day opening your own business? Money Coach and author Lynette Khalfani-Cox recently wrote about how losing her job as a Wall Street Journal reporter doing on-air segments on...

Whatever filmmaker Todd Haynes is serving, it must be a pretty powerful potion, able to bend top producers, actors, set decorators and the people who run HBO to his will in order to create a luxuriously new "Mildred Pierce" mini-series that clocks in at nearly six hours in length and squeezes every last ounce of disciplined energy from its star, Kate Winslet — to say nothing of the energy it will require of its audience. Haynes has even arm-twisted present-day Long Island into...

President Obama and D.C. Council member Marion Barry obviously had something different in mind when they each recently referred to the notion of "empowerment. " In his Feb. 1 National African American History Month proclamation , President Obama said he selected the theme "The History of Black Economic Empowerment" to honor African Americans who overcame racial barriers to reach "financial independence and the security of self empowerment that comes with it. " Barry, used it, too, when he defended himself this week against a D.C....

President Obama and D.C. Council member Marion Barry obviously had something different in mind when they each recently referred to the notion of "empowerment. " In his Feb. 1 National African American History Month proclamation , President Obama said he selected the theme "The History of Black Economic Empowerment" to honor African Americans who overcame racial barriers to reach "financial independence and the security of self empowerment that comes with it. " Barry, used it, too, when he defended himself this week against a D.C....

The U.S. Olympic Committee for years trumpeted its financial independence from the U.S. government. It still calls upon the old advertising slogan, "America doesn't send athletes to the Olympics, Americans do" in soliciting private donations. The organization likes to project the image of a bootstrapping U.S. team carried to the Olympic Games on a magic carpet of personal checks and hard-earned American dollars. But the current recession and new leadership have brought a willingness to consider another vision: a...