YES NO Are you using credit cards for items you used to pay for with cash? / Is an increasing percentage of your income going to pay for interest expense? / Are you tapping more of your savings to pay current bills? / Your savings should be at least three months’ take-home pay. Is yours inadequate? / Are you making only minimum payments on revolving charge accounts? / Are you shuffling debt from one card to another on 0% introductory…
When McDonalds introduced a hamburger in l968 that was over three times the price of their basic $.15 burger, everyone thought that the Big Mac would be too expensive to catch on. Today, at $2.24 it’s a pretty good deal, especially compared to “nickel candy bars” and “Five and Dime Store” items. Inflation is a price escalator that is here to stay. Government printing of the M1 money supply in excess of net GDP increase is one cause…
As the story goes, the government advertised that anyone who could prove real need could win a grant for one million dollars. Among the many that applied was a farmer. When asked what he would do with the money, he replied, “I would just farm and farm and farm until it was all gone.” A farmer is a man outstanding in his field. Most only work half days – from 6:00 a.m. to 6:00 p.m., plus overtime. They…
“How would you like to live in one of your antique cars with you family,” I said to a car dealer friend who was also a client? Like most dealers, he was a hobbyist, having collected a number of vintage cars. “If your house is paid for, that’s $1,600 a month you don’t have to earn if your mortgage is cleared. No bills, no need for income.” The market was high, a package sale of his antiques cleared…
While serving a mission in South America some Elders lived 4 to 6 in an apartment and for $20.00 each could hire a maid, allowing them more proselytizing time and excellent employment for the maid. Few of us can afford a maid, but with marvelous tools available, we can make hundreds of jobs easy using washers, dryers, vacuums, microwaves, blenders, mixers, etc. With a jack and wrench you can change your own oil for under $10.00. The…
Did you know that adding just $100 a month to your house payment can save you over $7,687 in interest on a 15 year mortgage (5% APR) and over $57,035 if you have a 30 year mortgage (5.5% APR)? Additionally, your payments will end 27 months ($32,027) and 79 months ($71,047) early, respectively. If your house payment is $1,000 a month, in a minimal tax bracket you have to earn $1,552.57, which (after taxes and tithing) equals…