What is the Difference Between Saving and Investing?

Most of us innately know that saving and investing are not the same, but do we understand the difference? Because clarity in this distinction can greatly impact one’s financial well being, realizing these difference is vital. The key is in two words: risk and liquidity. Savings are low risk funds that must be liquid (available) [...]

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Am I a Rich Fool?

I don’t know about you, but I have the knack for reading scripture through a filter which allows the truths to go to my head without touching my heart. This filter has enabled me to read Jesus’ story about the rich fool without ever considering if that fool might be me. However, I am now [...]

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A Prisoner Raises the “Serving Others” Bar

photo credit: Ani Carrington He was a political hot potato – a prisoner accused of organizing a coup to overthrow the government. Because of death threats by his enemies, a soldier was assigned to escort him to the court venue where he would stand trial. Part of the travel itinerary included passage via ship; it [...]

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5 Easy Ways to Pay Your Mortgage Early

Paying your mortgage early can be relatively pain free, but, before getting started, you need to take care of some basic prerequisites.  I recommend that you:

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No Retirement Plan and I’m 48 Years Old

photo credit: barbaranixon Q: Joe, I am 48 years old and have not yet made any plans for my retirement.  I realize that I should have started years ago, so I am anxious to begin investing.  My wife and I have a good income ($7000 a month take home pay).  We also have $25,000 in [...]

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5 Feeble Excuses for Not Living on a Budget

Suppose you were hired to manage the funds for an entity which will be spending over $1.5 million dollars.  Now imagine that your employer asks to see your budget report.  If you say,  “I don’t use a budget…I tried it once and it didn’t work” , do you think you would still have a job?  [...]

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Moses’ Amazing Choice: The Key to His Greatness

Moses, by any standard, was a great man — he was instrumental in liberating an entire nation from slavery.  Yet his path toward this success was cluttered with obstacles, the most prominent being the huge wealth at his fingertips by virtue of being an adopted son of the leader of richest nation in the world.

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Lessons My Early Morning Paper Route Taught Me

I never received an allowance, nor did I ever expect one.  My older siblings (there were six of us altogether) worked for their spending money, so I always assumed I would do likewise.   Although I picked up a few bucks mowing lawns in the neighborhood, at age 14 I sought and secured my first real [...]

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Recipe for Greatness…It May Surprise You

photo credit: neyugnd “Whoever wants to be great must become a servant.” (Mark 10:43 MSG) Tale of two bosses During my last two summers before graduating from college, I worked as an engineering apprentice on the construction of Interstate 57 in southern Illinois. I was on a survey crew that first summer, driving hundreds of [...]

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Lessons From a Thanksgiving Miracle

The Pilgrims’ first winter after arriving at Plymouth was a tragic one – about half of the original 102 adventurers died from exposure, scurvy and outbreaks of contagious disease.  When spring came, the survivors, weakened by illness and malnutrition, experienced an astonishing miracle: a visit from an Abenaki Indian who greeted them in English. Several [...]

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Gaining Strenth From Struggles

photo credit: 416style She was born prematurely, the 20th of 22 children. As a young child, the polio virus caused her right leg to atrophy and twist. Doctors declared she would never walk again, but her family never gave up. They took turns massaging her leg every single day. Twice a week, they drove her [...]

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How Does a Payday Loan Work?

A payday loan (also referred to a payday advance) is a small, short-term loan which is secured against the borrower’s next pay check. Most lenders will require some verification of employment or income, such as a pay stub or bank statement.

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Dealing With Criticism: A Biblical Approach

When was the last time someone shared their criticism with you about something you were doing? Was it constructive or negative? Did you take offense or embrace the advice? The Bible gives us some insights on handling criticism, so the next time you’re approached by a critic, consider what these scriptures say.

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The 80/20 Principle and Money

You’ve probably heard of the phrase “the 80/20 rule.”  The technical term for this common phrase is called the Pareto principle, named after … you guessed it, a man named Pareto.  In the early 1900s, Vilfredo Pareto noticed that 80% of Italy was owned by 20% of the population.  On a much smaller note, he [...]

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5 Items You Should Always Buy Used

Buying new has its good points: you may receive a warranty, you can return the item if it is defective, and you simply enjoy the feeling of being the first-time owner. However, the cost savings of buying certain items used greatly outweighs these good points. Five such items are: 1. Automobiles A new vehicle depreciates [...]

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How Do You Measure Success?

Last fall, at a class reunion in Palm Springs, CA, 39-year-old Steven Burton wore dress Navy attire displaying the Navy Cross, the highest medal that can be awarded by the United States Department of the Navy. This award is given for “extreme gallantry and risk of life in actual combat with an armed enemy force [...]

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