In the heart of the world-famous red-rock country of Southern Utah, about five miles from what is presently the entrance to Zion National Park, lies the small town of Rockville, Utah. On January 20, 1863, not long after the town was settled by hardy Mormon pioneers, my great-grandfather, Jacob Heathcote Langston, was born. Family legend…
What you can afford has little to do with what a mortgage broker will lend you for your house…. Just because you take out a mortgage for 20% less than the maximum amount the bank or mortgage broker is willing to loan you does not mean you are being financially prudent – 20% less than…
Benjamin Franklin famously said, “A penny saved is a penny earned.” The witty poet Ogden Nash quipped “A penny saved is – impossible.” The financial writer Andrew Tobias, in his great book The Only Investment Guide You’ll Ever Need, points out that Franklin’s quote needs updating. The updated version, according to Tobias, should read, “A penny saved is…
In my last post we discussed that, while education is definitely good, it is not wise to take out student loans unless there is a financial payoff for doing so. In other words, you need to increase your earning potential enough through your schooling that you can pay your student loans off in a reasonable amount…
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…
When you could pay your way through college by waiting tables, the idea that you should “study what interests you” was more viable than it is today, when the cost of a four-year degree often runs to six figures. For an 18-year-old, investing such a sum in an education without payoff makes no more sense…
