Spendster.org publicly shames those with bad money habits on clarkhoward.com

In this new era of thrift, Clark is hearing his "save more, spend less" motto echoed just about everywhere you turn. Years ago, he was advised by lawyers to trademark the motto, but he ignored their counsel. Actually, he's glad he didn't do it -- the penny-pincher wants people to be able to trumpet this important message.

Clark recently happened upon a website called Spendster.org. Users go to this site to confess their monetary sins. There are even video accounts of people detailing how they waste money. It's not done in a boastful or braggart manner; rather, it's people publicly shaming themselves to teach others.

We as Americans need a hard restart about how we spend our money. Clark just worries that the only ones who will go to a site like Spendster are those with no problem at all or those who have already healed themselves.

The other side of the coin is a site like Mint.com, which offers free online budgeting tools. They'll help you track your spending and your investments as you start to take control. Another website called FeedthePig.org tries to encourage you in a lighthearted way to save.

Right now, we're currently in a reactionary, knee-jerk mode where consumers are expecting to drastically cut back on their holiday shopping. That's just a temporary phenomenon. But Clark wants you to think long-term about how to change your money habits.

What others are saying

GM and other big bosses
I just think that it will be a shame for the government to help the big bosses while we are starving for groceries ,hit by medical bills and threw out from our jobs. GM had enough money and was cutting jobs , The big bosses are still spending lots of $ to buy their suits and briefcases while we bearly make the bills paiements. I SAY THAT ENOUGH WINNING,GIVE US SOME MEDICAL SECURITY WHILE UNEMPLOYED. The billions they are asking for can pay the medical insurance of the middle class.
By fari @ 12/03/08 09:01:48 AMreport abuse
Spendthrift website
Someone ought to start a website to out people who are spending outrageous sums while they ask for handouts from all of us via the government. How about the CEO of GM who spent $20,000 flying to Washington this morning to tell Congress we need to help them pay their bills(when he could have taken a commercial jet for less than $300? Outrageous.
By j @ 11/19/08 05:28:04 PMreport abuse
Going Backwards will Be Hard For Many
I do see this as a very lean time, maybe a devastating time for many businesses - both big and small. In the last few years, especially, it seems we have been encouraged to spend, spend, spend whether or not there was available money in our pockets. Credit became just an extension of the pay check for many people. Now it is cold turkey time and there will be severe withdrawal symptoms and some won't make it - businesses and individuals.
The Fed keeps wanting to unfreeze credit markets for businesses and individuals - well, if no entity can trust the financial health of another entity in this downturn market, why would lending be a good thing?
So maybe it is going to be a time of moving backwards, a deflationary time - a time when wages, prices move down instead of up in order to equalize to that of the real cash income of Americans and those in the rest of the world.
By Gail @ 11/19/08 09:32:16 AMreport abuse
Temporary Phenomenon?
Clark is smokin' rope again. What part of depression don't you understand Clark? People instinctively sense the lean times ahead and they are holding on to their cash. This is a good thing for the long-term health of our economy although in the short-run it will cause a lot of pain for retailers used to stores crowded with credit junkies.
By Ed @ 11/18/08 04:28:00 PMreport abuse

GM and other big bosses

I just think that it will be a shame for the government to help the big bosses while we are starving for groceries ,hit by medical bills and threw out from our jobs. GM had enough money and was cutting jobs , The big bosses are still spending lots of $ to buy their suits and briefcases while we bearly make the bills paiements. I SAY THAT ENOUGH WINNING,GIVE US SOME MEDICAL SECURITY WHILE UNEMPLOYED. The billions they are asking for can pay the medical insurance of the middle class.

By fari @ 12/03/08 09:01:48 AMreport abuse

Spendthrift website

Someone ought to start a website to out people who are spending outrageous sums while they ask for handouts from all of us via the government. How about the CEO of GM who spent $20,000 flying to Washington this morning to tell Congress we need to help them pay their bills(when he could have taken a commercial jet for less than $300? Outrageous.

By j @ 11/19/08 05:28:04 PMreport abuse

Going Backwards will Be Hard For Many

I do see this as a very lean time, maybe a devastating time for many businesses - both big and small. In the last few years, especially, it seems we have been encouraged to spend, spend, spend whether or not there was available money in our pockets. Credit became just an extension of the pay check for many people. Now it is cold turkey time and there will be severe withdrawal symptoms and some won't make it - businesses and individuals.
The Fed keeps wanting to unfreeze credit markets for businesses and individuals - well, if no entity can trust the financial health of another entity in this downturn market, why would lending be a good thing?
So maybe it is going to be a time of moving backwards, a deflationary time - a time when wages, prices move down instead of up in order to equalize to that of the real cash income of Americans and those in the rest of the world.

By Gail @ 11/19/08 09:32:16 AMreport abuse

Temporary Phenomenon?

Clark is smokin' rope again. What part of depression don't you understand Clark? People instinctively sense the lean times ahead and they are holding on to their cash. This is a good thing for the long-term health of our economy although in the short-run it will cause a lot of pain for retailers used to stores crowded with credit junkies.

By Ed @ 11/18/08 04:28:00 PMreport abuse

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Nov 18, 2008 -- Spendster.org publicly shames those with bad money habits

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