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Personal Finance By The Book

Personal Finance By The Book

Joe Plemon: Financial Writer

Undoing That Car Purchase You Shouldn’t Have Made

May 24, 2010 by Joe Plemon 8 Comments

“Geraldine”, a sassy lady portrayed by the late Flip Wilson, answered her husband thusly when he demanded an explanation for yet another new dress: “The Devil made me do it! I was walking down the street minding my own business when he snuck up behind me and pushed me into that dress store. He MADE […]

Filed Under: Debt, Vehicles

Deciding Whom to Help: The Burden/Load Principle

May 21, 2010 by Joe Plemon 6 Comments

“But if anyone has the world’s goods and sees his brother in need, yet closes his heart against him, how does God’s love abide in him? Little children, let us not love in word or talk but in deed and in truth”. 1 Jn 3:17-18 These verses tell us that if God’s love abides in […]

Filed Under: Biblical Thoughts On Finance

Why Joe and Jan Do Not Have Long Term Care Insurance

May 19, 2010 by Joe Plemon 14 Comments

In spite of what the title seems to infer, this post is not about the pros and cons of Long Term Care Insurance (LTCI); it is simply a post about Joe and Jan … and why they don’t have Long Term Care Insurance. Some background The year before I turned 60, I started researching Long […]

Filed Under: Insurance, Life Planning

How Minimum Credit Card Payments Will Keep You in Debt Forever

May 12, 2010 by Joe Plemon 29 Comments

How Minimum Credit Card Payments Will Keep You In Debt Forever

Did you know that making your minimum credit card payment every month will take you as much as four times longer to get rid of debt than making a fixed payment?  I recently ran across a nifty calculator at Bankrate.com that I recommend looking at.  When I plugged in $5,000 debt at 12%  interest with […]

Filed Under: Credit Cards

What is “Strategic Default” and Should You Consider It?

May 3, 2010 by Joe Plemon 39 Comments

Strategic Default, according to Wikipedia, is “the decision by a borrower to stop making payments (i.e. default) on a debt despite having the financial ability to make the payments.”    This practice is particularly associated with residential and commercial mortgages in which, because of a substantial drop in the value of the real estate, the property […]

Filed Under: Debt, Dollars and Sense

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