Many years ago, when my now grown children were in elementary school, we attended a special evening activity at their school with Richard Paul Evans, author of The Christmas Box and many other best-selling books. Evans had just written a book called The Spyglass which he read to us. Evans had never written children’s books…
Our current behavior has consequences in the future. One interesting way to think of this is to think of a present you and a future you. For example: The present me loves to stay up late, but the future me pays for it dearly when the alarm goes off the next morning. The present me…
It’s Hard to Save for a Stranger In an effort to understand how our brains work scientists have done a lot of research using brain scans. They have discovered that the activity in our brains differs depending on what we are thinking about. These studies have shown that our brains are very good at distinguishing…
In my last post I mentioned that extended warranties are one of the worst types of insurance you can buy. The odds are heavily against the purchase of extended warranties working out in your favor. In spite of this many people swear by them and purchase them every time they are offered. Why is this?…
Drive-in banks were established so most of the cars today could see their real owners. – E. Joseph Crossman I have long thought that cars were a great destroyer of middle-class wealth. Recently I stumbled across some evidence confirming this. The evidence came in the form of a graph created by the Wall Street Journal…
Surveys show that the most common New Year’s resolutions are physical and financial. I have certainly made my share of both of these types of resolutions over the years but I have had a lot more success in keeping my financial resolutions than my physical ones. Why is that? Is it just my personality or…
“The great paradox of this remarkable age is that the more complex the world around us becomes, the more simplicity we must seek in order to realize our financial goals. Never underrate either the majesty of simplicity or its proven effectiveness as a long-term strategy for productive investing. Simplicity, indeed, is the master key to…
Make the best of what is in your power, and take the rest as it happens. – Greek philosopher Epictetus (AD 55 to 135) Concern or Control? One of my favorite speakers and authors is Stephen R. Covey (1932 to 2012). In his wonderful book The Seven Habits of Highly Effective People Covey teaches that…
Men do not desire to be rich, only to be richer than other men. – John Stuart Mills (1806-1873) There is a great old Jewish folktale in Rabbi Harold Kushner’s book When Bad Things Happen to Good People. The story is about two competing shopkeepers in a small town. Their shops were right across the street…
Gazelle Intensity Popular debt elimination evangelist Dave Ramsey teaches that, after setting aside $1,000 for emergencies, your only financial priority should be paying off all debt except your home mortgage. Everything else, including saving for retirement, should be put on hold until your debts are paid. Ramsey uses the term “gazelle intensity” to describe the…
