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Personal Finance By The Book

Personal Finance By The Book

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

Procrastination: What Is It and Why Do We Do It?

April 30, 2010 by Joe Plemon 7 Comments

photo credit: Danielle Scott “For you yourselves are fully aware that the day of the Lord will come like a thief in the night.  While people are saying, “There is peace and security,” then sudden destruction will come upon them as labor pains come upon a pregnant woman, and they will not escape.”  I Th […]

Filed Under: Biblical Thoughts On Finance

Change Your Mindset and Save a Fortune: 200,000 Miles is the New 100,000 Miles

April 28, 2010 by Joe Plemon 67 Comments

photo credit: gwdexter I grew up in an era when a car was considered junk if it ever made it to 100,000 miles. Even the manufacturers weren’t optimistic about their cars achieving the 100,000 mile plateau – the odometers maxed out at 99,999.

Filed Under: Dollars and Sense, Life Planning, Vehicles

The Sad Tale of Clarence and Evita

April 26, 2010 by Joe Plemon 10 Comments

photo credit: Let Ideas Compete Clarence and Evita (not real names) came to see me recently for financial counseling. As they entered my office, I noticed that Evita walked slowly, with a noticeable limp. Clarence, white hair with matching full beard, offered friendly banter. After introductions, I asked them what their short term financial goals […]

Filed Under: Case Studies

Why to Build Wealth…Five Wrong Reasons and One Right One

April 23, 2010 by Joe Plemon 13 Comments

photo credit: alancleaver_2000 Contrary to what some believe, the phrase “wealthy Christian” is not an oxymoron. Wealth and Godliness are not necessarily contradictory terms – it all depends on the motives. Building wealth for the wrong reasons does not produce Godliness but the right reasons will. Let’s dig deeper.

Filed Under: Biblical Thoughts On Finance

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