An expensive car or home does not make one wealthy. In fact, the inverse is more likely true. –Richard Paul Evans, best-selling author. Some pretend to be rich, yet have nothing; others pretend to be poor, yet have great wealth. Proverbs 13:7 Some Old-Fashioned Cowboy Wisdom Big hat, no cattle is an old cowboy saying,…
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…
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…
We are what we repeatedly do. Excellence, then, is not an act, but a habit. – Aristotle, ancient Greek Philosopher – If we consistently make good choices it will lead to good habits. I recently read two books that examine some of the factors that influence our choices and behaviors. An understanding of these factors…
Hopefully you have calculated your net worth. Now you might be asking yourself, “What does it mean? Is the number I calculated for my net worth good or bad?” As a financial scoreboard your net worth is useful but limited. It’s like having your score on the scoreboard, but not your opponent’s score. It provides…
I find the great thing in this world is not so much where we stand, as in what direction we are moving. -Oliver Wendell Holmes, Jr., United States Supreme Court Justice from 1902 to 1932 The Stockdale Paradox teaches that facing the reality of your current situation is a necessary step to improving it. The…
A cliché and a joke about money and happiness: The cliché: Money can’t buy happiness. The joke: Those who say money can’t buy happiness just don’t know the right places to shop. My son, Colton, added the perspective of an adrenaline-seeking young adult when we were discussing this topic around the dinner table recently by…
The year was 1986. I was a junior in college and I had a new “McIntosh Plus” computer. This was the first computer I ever owned and I was not quite sure what I could do with it besides using the word processor to write papers. I had heard that many people were finding computers…
Another simple way to budget is the cash/envelope method. If you examine your spending habits you will likely find that much of your spending is fixed. You can’t do a lot immediately about your mortgage or rent, car payment, or basic utilities. To quickly gain control of your budget your discretionary spending is usually the…
Now I will tell thee an unusual truth about men and sons of men. It is this: That what each of us calls our “necessary expenses” will always grow to equal our incomes unless we protest to the contrary… All men are burdened with more desires than they can gratify. – George S. Clason, Author…
