I’ve been thinking about the messianic expectations so many people seem to have for an Obama presidency. The expectations are so high that disappointment is almost a guaranteed outcome.
Archive for October, 2008
Debt Free Living
October 29, 2008The present economic trials are a prime opportunity. Seeing the value of one’s home and retirement account plummet can’t help but be a wake-up call. Better yet, it ought to be alarm bells ringing. The natural response is a sudden rise in adrenalin with accompanying feelings of fear, worry and anger. Now is the time to take stock of your life and come up with a plan for the future that makes real financial sense.
This is an opportunity to learn that buying stuff with debt is foolish. This is an opportunity to realize that you aren’t going to become wealthy buying stuff on credit. Stop!!! Stop right now!!!
Now, start paying that debt off as fast as possible. Sell some of it if you need to. Work and extra job. Do what you need to to get out of debt.
Think about the things you are spending money on that you don’t need to be spending money on. Do you really need all those bells and whistles on your cell phone plan? Do you need 6 billion cable channels? Do you need to eat out 70 times a week? Is that Starbucks $15.00 latte a morning necessity?
This is also an opportunity to realize that saving is wise. I’ve noticed that there are a lot of senior adults with a lot of money. I’ve also noticed that these people were school teachers, farmers, truck drivers, electricians, and police officers. They were not high-income earners. How did they end up in the their latter years with such a nice nest egg? They saved money. They didn’t believe that they had to have more and more stuff to live a good life.
Financial advisers tell us to have at least 3 to 6 months of expenses in an emergency fund. Start saving toward that end.
Instead of financing a car for life start a savings account for future vehicle needs. Buy a junker to get around in until you save enough to buy something better with cash. Drive the wheels off that sucker. Most vehicles today are capable of 200,000 miles or more if properly maintained.
Don’t buy more house than you can afford. It is a good thing that credit is tight. Maybe banks will return to sound lending practices and stop giving loans to people who can’t afford to pay them back. Don’t borrow money against your house. Home equity lines of credit will keep you in debt on your home forever. Set a goal to pay off your house in 15 years or less.
Imagine what your life would be like if you didn’t have a car payment, credit card payments, or a house payment. Your income would go to take care of your needs like food, clothing, utilities, and insurance. The rest you could save for the future, give to others, and enjoy life with – all with cash.
Here is an article that contains some good ideas on the subject.
Obama Audio – He has Always Wanted to Practice Redistribution of Wealth
October 27, 2008It seems most people want to stick their head in the sand and not listen to what Senator Obama says he wants to do. He wants to practice wealth redistribution – a socialist/marxist tenant. He wants to take one person’s hard earned money and give it to someone else.
I believe in giving to the poor. I give away a fairly large percentage of my income (a higher percentage than Obama or Biden). I don’t believe in government taking away money from one person and giving it to another person. It will suck the life out of productivity and incentive. It will create a permanent welfare class. It will empower more government control over our lives. It will increase class hatred and envy. It is not good for society and has never worked anywhere.
Are you still not sure that is what he wants to do? Listen to him in his own words.
Joe Biden has to Answer Tough Questions
October 26, 2008An anchor at WFTV had the temerity to ask Joe Biden some tough questions, something the Obama/Biden ticket isn’t accostumed to. Now they are whinning about it – won’t talk to that station again – probably on some hit list if Obama wins. Free speech is going to have a tough go of it under an Obama administration.
Why the Lottery was a Bad Idea
October 20, 2008The Sunday edition of the “Tulsa World” 10/19/08 front page had an article by Susan Hylton about the rise in embezzlement cases in Oklahoma that are related to gambling addictions. The article, titled “Access to money, gambling looks like a bad bet,” makes the case that gambling addictions are increasing at alarming rates in Oklahoma and as a result people are stealing from their employers to fund their gambling habits.
Then, in the same paper on the same day, in the “Local” section is an article titled, “Lottery prizes could get boost.” When the lottery passed a vote of the people a few years ago one of the provisions was that in 2008 the percentage of profit going to education would be increased from 30% to 35%. The problem is that income to the lottery is decreasing. The article states it is because of the economy. I would suggest the cause is more likely the proliferation of Indian Casinos. People have to many other more exciting gambling choices.
The rub is that there is a push in the State legislature and among the lottery commission leadership to get rid of the increase in percentage. The State government is now trying to figure out how to get more people to gamble. They need people to gamble away their money so that the State can get the revenues it counts on in its financing scheme.
So on the one hand the State is having to put resources into dealing with crime that is a direct result of gambling and on the other hand they have to promote the very activity that they are trying to police.
