Category: Debt Elimination

How to get out of debt.

My “Big Hat, No Cattle” Post was Selected to Appear on “Rock Star Finance”

My post “Do You Want Financial Security or the Appearance of Wealth,” originally published on December 30, 2013, was selected to appear on rockstarfinance.com, a site that describes itself as “A Collection of Awesome Money Articles.”  In this post I introduce the old cowboy saying “Big hat, no cattle” and talk about how it relates to personal finance.  If you…

Car Loans: Flip the Car Buying Process by Minimizing, Shortening, and Saving

Drive-in banks were established so most of the cars could see their real owners.  – E. Joseph Crossman, American businessman The Car Buying Process We established in an earlier post that we should avoid going in debt to purchase items that depreciate, or lose value over time.  Cars depreciate very quickly yet most of us,…

Do You Want Financial Security or the Appearance of Wealth?

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,…

Don’t Underestimate the Incredible Power of Compound Interest?

“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…

When It Comes to Debt, Are You Smarter Than an Octopus?

Stories are great teaching tools.  One of my favorite stories related to personal finance was told by Thomas S. Monson, president of the Church of Jesus Christ of Latter Day Saints, about a visit he made to a church school on the Island of Tonga.  As he peeked in one classroom he noticed that the students were paying unusually…