Sunday, August 14, 2011

Scripture Sunday - 1 Nephi 1:20

...But behold, I, Nephi, will show unto you
that the tender mercies of the Lord 
are over all those whom he hath chosen, 
because of their faith, 
to make them mighty 
even unto the power of deliverance.

1 Nephi 1:20

Friday, August 12, 2011

Frugal Friday: Logo'ed Pens

I was reminded of this tip because of back-to-school sales. I had gotten wind of a great sale and picked up some 10-packs of pens for an upcoming class. As I was throwing them into my shopping cart, I realized that I had not bought pens in ... 10 years??? Maybe even longer! How could that be?

My husband and I have been given pens at hotels, stores, banks, health and career fairs, seminars, and by sales people. We have received so many free pens we haven't had to purchase any.

If funds are tight, skip the pen sales and ask for a couple pens at banks, from realtors, and at doctors' offices (they get marketing supplies from drug reps). If you do not like the logo, spray paint the pen or wrap it in masking, duct, or floral tape. You can also cover the logos with colorful stickers, which you can also get at doctor's offices or banks!

Thursday, August 11, 2011

Leasing a Car

I thought this was an obvious no-no but it has come to my attention that there are still smart people out there who trick themselves into thinking leasing a car is a good idea.

Think about this: Anytime a convenience factor is added in there is a cost associated.

There is the price of buying a car outright.
For people who do not save up the money to buy a car outright, 
there is a fee added (called interest), which makes the total price of the car higher.
For people who cannot afford the payments on a car, 
there was created another product called a lease. 
The fees are even higher and the restrictions stricter.

If leasing is so expensive, why do people still lease cars? The most popular reason is because they erroneously make judgment calls based on the size of the payments instead of on total cost. The payments are indeed small, but the total cost of the car is higher AND one never gets to own the car! If people took the time to do the math, they would never throw thousands of dollars at a car they will never own and thus will never be able to sell or trade in for another vehicle.

Bottom line: If you lease a car for lower payments, it means you cannot afford the car. Leases were created for people who cannot afford to buy.

Monday, August 8, 2011

Buy Low, Think High

Over and over I hear people express to one another "Oh, this economy" while shaking their heads in disapproval. When the stock market plunged this past week, oy, the heads shook some more. What has been your reaction upon hearing the Dow drop?

You know, it seems like everyone wants to get rich, or at the very least, have more money than needs. But few people are willing to follow the advice of those who have blazed their own trails and became rich. The public wants to be wealthy without actually having to do what wealthy people do, or did, to get there. (Having backed out of several experiences that required me to stretch out of my comfort zone, I will throw myself in that group.)

One of Warren Buffet's most popular piece of advice is "Be greedy when others are fearful and fearful when others are greedy." (Buffet uses "greed" as a play on words referring to the timing of when one should invest most and not as actual advice to adopt a negative personality trait.) We've all heard it before: "Buy low, sell high." But for some reason, a large segment of the population forgets this common sense when it comes to actual investing. They freak out and sell when things are priced low. They are relieved when prices go up, and they buy high. Have you seen this before?

Then, there are the people who say they do not have money to invest, but then lament when the stock market goes on sale! When the market plunges, it is is essentially a sale on investments! We seem to become more excited about a sale at Old Navy than a sale on retirement.

Become wise and think independent of the media. Do what financially-blessed people do. Pray and ask for inspiration. Rarely is public opinion in alignment with God's answers. Sometimes, blessings come in bear's clothing.

Sunday, August 7, 2011

Scripture Sunday - Mosiah 4:27

And see that all these things are done in wisdom and order;
for it is not requisite 
that a man should run faster than he has strength.
And again, it is expedient that he should be diligent, 
that thereby he might win the prize; 
therefore, all things must be done in order.

Mosiah 4:27

Friday, August 5, 2011

Personal Finance Classes Start Soon!

Oh, yes, I am still absolutely here!

Presently, I am doing more one-on-one financial counseling and am preparing to teach a personal finance community class. If you are local and prefer to learn in a classroom setting as opposed to one-on-one mentoring, jump on this! I am capping the size of this class, and there are only 5 seats left!