From the category archives:

Dollars and Sense

People Are Begging for Financial Help. Five Things You Can Do

by joeplemon on March 1, 2010

in Dollars and Sense, Life Planning

Help Me. VTda.info
Creative Commons License photo credit: vtdainfo

The Recession is having some positive spin offs.

A report from Mintel Comperemedia revealed that, because of the current economic crises, three in four adults are trying to increase their financial know how.

Susan Menke, VP at Mintel Compermedia, comments: “The recession was a wake-up call for many Americans. They now feel unsure about investing and money management, so they are turning to friends, family and professionals for help in learning more about money.”

What age group is most determined to increase their financial literacy? Young adults. Five out of six “Echo Boomers” (born between 1982 and ages 1995) say they have already become or plan to become more educated about financial matters.

There you go. People are hungry for help, especially our younger generation. And you can help. “How?” you ask. The following ideas should help you get started:

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Reverse Mortgages Part One: Digging Beneath the Surface

by joeplemon on February 24, 2010

in Debt, Dollars and Sense

Reverse Mortgages
Creative Commons License photo credit: LordFerguson

A great financial principle is “Don’t buy anything you don’t understand.”

If everyone lived by that adage, I have a hunch that very few reverse mortgages would be sold.  Regular mortgages are confounding enough without being challenged to think in reverse.  Just the term “payment” in a reverse mortgage can mystify the most savvy among us.  The lender makes payments to the borrower and the borrower makes payments to the lender.  Yet, we are told, the borrower needs not pay a penny as long as the home is his primary residence.  See what I mean?

In this post (the first in a series of four), my goal is to demystify reverse mortgages by explaining the basics of how they work.

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Lessons Irvin Taught Us on Driving, Finances and Life

February 17, 2010

photo credit: Jesus Vivas
Irvin Smith was more than a father-in-law to me. I would like to believe that I was more than a son-in-law to him.
He lived an unpretentious life: a “real” Christian man who demonstrated his faith instead of preaching it. Irvin was utterly devoted to his wife and to his [...]

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Love and Money

February 3, 2010

photo credit: mateoutah
As I look back on my 39+ years of marriage, I can say that I look forward to another 39+ years of marriage.
I can also say that working together on our finances has been a huge factor for the success of our marriage. We certainly have made our share of mistakes, [...]

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Tax Refund? How You Should Use It and Why You Should Lose It

February 1, 2010

photo credit: djainslie
If you are like the majority of Americans, you are expecting to receive a tax refund when you file your 2009 taxes.   So what exactly is a tax refund?
It is NOT winning some sort of income tax lottery, nor is your Uncle Sam sending you some special “government money”.  It is simply [...]

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Should You Hire a Real Estate Broker to Sell Your House?

January 20, 2010

photo credit: griffithchris
Before I go any further, I will state unequivocally,  “It depends.”
Not everyone needs to hire a broker. But what should you consider before making your decision? Just like buying anything else, you should balance the cost against the benefit to determine which way the scales tip. Hopefully, this article [...]

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Four Guidelines for Becoming a Discerning Giver

December 28, 2009

photo credit: Alex E. Proimos
Christmas is the season when we celebrate God’s gift to us: his son. God gave this gift to mankind and thus to each and every one of us. It is a gift any of us can receive but none of us deserve.
Because this gift was given to everyone, it seems [...]

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Christmas Giving Self Exam: How Did You Do?

December 23, 2009

While your 2009 Christmas giving is still fresh in your mind, I challenge you to do a self exam on how well you did. Hopefully, a check up today will help you improve next year. Simply ask yourself the following questions:

photo credit: Jonas N

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How to Avoid the Negative Influences of the Wealth Effect

December 14, 2009

photo credit: KrissZPhotography
What is the Wealth Effect?
Did you know that recessions are good for your savings account, but a booming economy tends to drain your savings? It’s true. In April, 2005, when the stock market was booming, personal savings in the United States dipped to 1% but jumped to as high as 6% during [...]

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Are You Making Pascal’s Wager With Your Finances?

December 7, 2009

photo credit: NickStarr
 

“Pascal’s Wager” , an argument for belief in God, was formulated by 17th Century French Philosopher and Christian apologist Blaise Pascal.

The Wager Defined
The “Wager” argues that if one lives as an agnostic, he is betting his life on the non-existence of God. If, upon death, he discovers that he was wrong, then [...]

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Four Reasons Why Wealth Should NOT Be Your Financial Goal

November 10, 2009

photo credit: albertopveiga
I love writing financial tips to help you better manage your money. I want you to get out of debt, have a sound emergency fund and a plan to retire with dignity. I want you to learn enough good financial habits that you will, over time, accumulate wealth. [...]

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