Category: Saving

Lessons in Saving from an Ancient Greek Wrestling Champion and a Nobel Prize-Winning Economist

Milo of Croton was the most celebrated athlete of the ancient world – the Michael Jordan of his time. He won an astounding 6 straight wrestling competitions at the ancient Olympic Games, dominating the sport from 540 BC to 520 BC. What allowed Milo to remain dominant for so long? Milo’s chief advantage over his…

Build Like a Bee: Artificial Scarcity is the Key to Building a Financial House that Will Last

The writer of Proverbs stated, “There is that maketh himself rich, yet hath nothing: there is that maketh himself poor, yet hath great riches. (Proverbs 13:7)”.     Craig Matters reminds us to “…use technology as a substitute for willpower by having funds automatically deposited into retirement or other savings and investment accounts.” Ronald T. Wilcox explains…

Start Your Own Self-Insurance Company

I recently started my own self-insurance “company”. Here are some details about my new company. Startup Costs: $0 Startup Time: 30 minutes Business Purpose: Take on an increased, although still small, part of the risk of driving a car, owning a home, and purchasing appliances and electronic equipment.   Revenue: Modest but steady. Right now…

Happy Money: Principle Four – Pay Now, Consume Later

“Because the pleasure of consumption is purest without the experience of paying for it, anything we can do to separate payment from consumption can enhance the pleasure of the purchase.  – Elizabeth Dunn and Michael Norton from the book Happy Money   Close your eyes and reminisce seeing your favorite band in concert or watching…