Personal Finance Today

These thoughts are based on a recent reading of the Old Testament book of Ecclesiastes and at Chapter 5 and verses 8 to 20, we learn that government comes from God. We should value government remembering that we are commanded to pray for those in authority. The Bible is a most revolutionary book and can shake and challenge many modern presuppositions.

Jesus Christ always respected government as did those apostles in the early Church, although there were occasions when those in authority were challenged.

Do not be overly astonished by what governments do - nor become bitter by their decisions. We need government. It is a gift of God, and around our world today, we see what happens when there is no government, and in particular when there is no good government.

Bureaucracy is not new either. Sometimes people find the red tape becomes too thick and it is almost impossible to cut through it, but we are called to be realistic and not idealistic.

Idealism nurtures discontent.

In verse 10 we learn another crucial lesson. The pursuit of things can cause discontent too.

Accumulating finance is not the answer either.

I remember saying some years ago when the Lottery was launched in the United Kingdom that it would ruin a life a week, and I have not greatly miscalculated.

Materialism does not bring contentment, or we would have become the most content generation ever.

The love of money is a root of evil.

Things increase your appetite, but not your satisfaction. The values of the world are so lop-sided. The more you have the more you want. Now that does not apply to water.

It is quite amazing that such a rich man is saying all this, but many need to hear it. Solomon was a most rich and wealthy man in so many ways.

Having a love affair with money will never satisfy. “If only I became reall (more…)

There’s nothing better than a hot and juicy steak, especially one from your own grill. But, can you imagine going to the grocery store to pick up a few prime ribs, only to get home and realize you ended up with cube steak instead? Talk about injustice! Of course, this doesn’t happen to most of us, because grocery stores package their meat in clear plastic wrap, so we can see exactly what we’re buying. If only we bought financial services the same way.

True transparency is sorely lacking in an industry that packages itself with imposing-sounding credentials, slick advertising and carefully orchestrated seminars. Many investors are convinced they are receiving the “prime rib” service they’re paying for, without realizing all they’re getting is some chewy cube steak.

That was the case with “Bill,” an investor I talked with recently. Bill had two million dollars in investable assets and was using a number of different advisor services to manage his wealth. Some of them were commission-based while one was fee-based. But, all of them were using mutual funds exclusively, and none of them were aware of Bill’s total financial picture.

The firms that Bill was using were very professional sounding and had nice offices. Their credentials were good and they were obviously successful (at least in gathering new clients). Each had convinced Bill to trust them with hundreds of thousands of his hard-earned dollars and invest in their “unique” strategies.

The problem was their strategies weren’t that unique. They were basically just splitting Bill’s money between different mutual funds. One commissioned advisor convinced Bill to also use a timing service to get in and out of the mutual funds he had at his firm. Bill had to pay dearly, with a 3% commission on the initial investment, then an additional 2% a year just for the timing service.

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Money is an important aspect of our daily lives. Ideally, you should spend less than you earn and get some extra money every month. Unfortunately, using credit cards, some people spend more than they make and this can lead to financial problems.

But it is easier than you think to cut a few corners and get some extra money every month. Here are some easy tips to help you cut back on those expenses.

First of all, you need to stop using your credit cards unless it is for an emergency. And no, a new purse is not considered an emergency.

You can save a lot of money on your grocery bill. Use coupons and shop at stores that offer double or even triple coupon deals. Whenever possible, buy items in bulk. Eliminate the purchase of all junk food and pre-packaged meals. Although it is more time consuming to make meals from scratch, it is much healthier for you and your family and it is significantly less expensive. This can save you $100 each month.

Consider carpooling. With the price rising daily, there are bound to others in your workplace that would be interested in saving money on gas. Post a flyer in your place of business advertising the fact that you are interested in carpooling. This could cut your gasoline expenses in half. And with the price of gas, it could be a substantial amount.

Do you buy coffee, candy or snacks every day while at work? By eliminating these expenses or cutting them back to once a week, you can easily save $50 a month.

Try bringing your lunch to work and pack a lunch for the children. This one change can result in savings of $150 or more.

When was the last time you were at your local library? The services offered there are completely free; take advantage of them! In addition to best selling novels, most libraries now offer DVD’s, magazines, and children’s books. Becoming a regular library p (more…)