Charles Dickens is one of my favorite authors. In fact, The Micawber Principle, after which this blog is named, comes from one of his books. Perhaps Dickens’ most famous book is A Christmas Carol, the classic tale of the transformation and redemption of Ebenezer Scrooge. I have always enjoyed A Christmas Carol but never thought…
It was Labor Day, 1966 and a young father, with his wife and four-month old baby boy, were driving across the high plains of Wyoming late at night. The father thought he had enough gas to make it to Rock Springs but with the lights of the town in sight the car sputtered and rolled…
I have always believed that sharing what we have with others is an important part of personal finance. This idea was reinforced in an unforgettable manner for me and my family in December of the year 2000. My wife Alice and I had four children ranging in age from 3 to 12. I had quit my…
“Probably the biggest cost that can wreak havoc on your financial future is to allow yourself to get saddled with credit card debt. There is no way you can get ahead of the game if you are paying 18 percent a year interest on your credit card… There are few “never” rules in personal finance,…
To repeat a line I have used with my children on occasion: “The short answer is no; the long answer is nooooooooooo!” We would all be better off without any debt. However, that doesn’t mean that all types of debt are equally bad. Some types of debt are definitely worse than others. Since virtually all…
Merrit H. Egan grew up on a dairy farm but claims his parents raised him to be great. He lived up to those lofty expectations by becoming a successful and prominent physician in Salt Lake City. Merrit and his wife had 11 children and they did their best to pass on the legacy of success…
I hope everyone is enjoying my posts, and more important, learning how to better manage your money. I enjoy writing and am confident I have a lot of important and helpful information to share. My last post, Thanksgiving Thoughts on Gratitude and What it Means to Have Enough, was included as an “Editor’s Pick” in the “Carnival…
This Thanksgiving season I have been reflecting on our constant quest for “more,” on what it means to have “enough,” and on gratitude. So this week I am going to depart from offering practical advice on money management and instead turn philosophical. We Want More, We Want More! Many of you have seen the popular…
“The most powerful force in the universe is compound interest” – Albert Einstein Take a minute to read the two questions below and estimate the answers. Don’t put too much thought in to it, or perform any calculations. Simply read the questions and write down your estimates: Starting on the day you are born you…
“I have secrets to unfold. But before we begin this journey together, you must appreciate that a secret’s value is not in what you know, but in what you do.” – Author Dan Millman in his book The Way of the Peaceful Warrior L. Tom Perry, currently a leader in the LDS church, tells the…
