tag:blogger.com,1999:blog-90478290899172883252024-02-18T20:56:47.583-08:00Acquired KnowledgeAn intelligent heart acquires knowledge, and the ear of the wise seeks knowledge.
Proverbs 18:15Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.comBlogger16125tag:blogger.com,1999:blog-9047829089917288325.post-26175254797252487622012-03-02T09:30:00.002-08:002012-03-02T09:30:45.384-08:00Looking for a house?I was looking at some local realors websites today and just wanted to let everyone know that there are some really good deals out there. Email me at <u><span style="color: #0066cc;"><a href="mailto:stoler@bankofbolivarmo.com">stoler@bankofbolivarmo.com</a> </span></u> if you live in the Bolivar area or are looking to move to the area and I will hook you up with a realtor. I would also love to help get anyone interested set up with a good low-rate home loan. Let me know and I will get you some information. Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com2tag:blogger.com,1999:blog-9047829089917288325.post-7299382635162201492012-02-29T18:11:00.000-08:002012-02-29T18:15:37.818-08:00SNL Explains Personal FinanceThis clip makes personal finance simple for anyone. Just don't buy stuff you can't afford! Watch this SNL skit with Amy Polar and Steve Martin: <a href="http://www.hulu.com/watch/1389/saturday-night-live-dont-buy-stuff">Don't Buy Stuff You Can't Afford</a>. I saw this on the <a href="http://www.plantingdollars.com/">Planting Dollars</a> blog, which is listed in my blogroll. <br />
<br />
<br />Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com1tag:blogger.com,1999:blog-9047829089917288325.post-35816717646395474802012-02-29T17:54:00.001-08:002012-02-29T17:54:53.163-08:00Cookin' with Court: Turkey Fried RiceI wasn't planning on posting another recipe tonight, but Court cooked a meal that definitely deserves to be documented for future use. The dish is called Turkey Fried Rice. It comes from the May 2010 Edition of Taste of Home's Simple and Delicious. We made asparagus and egg rolls as side dishes. <div>
<br /></div>
<div>
Prep/Total Time: 30 minutes</div>
<div>
Yield: 4 servings</div>
<div>
<br /></div>
<div>
<i>Generally, fried rice is a dish made with leftover rice from the day before, which serves as a nice base for a catch-all meal.</i> </div>
<div>
<br /></div>
<div>
<b>Ingredients: </b></div>
<div>
1 Tbsp. olive oil</div>
<div>
2 eggs, beaten</div>
<div>
1/2 lb. ground turkey</div>
<div>
2 green onions, sliced</div>
<div>
3 cups cold cooked rice (cooked rice)</div>
<div>
1 cup canned bean sprouts</div>
<div>
1/4 cup minced fresh cilantro</div>
<div>
1/4 cup soy sauce</div>
<div>
2 Tbsp. chunky peanut butter</div>
<div>
1 tsp. sugar</div>
<div>
1/2 tsp. garlic powder</div>
<div>
1/4 tsp. crushed red pepper flakes</div>
<div>
1/4 tsp. ground ginger</div>
<div>
<br /></div>
<div>
<b>Directions:</b> </div>
<div>
In a large skillet, heat oil over medium high heat. Pour eggs into skillet. As eggs set, lift edges, letting uncooked portion flow underneath. When eggs are completely cooked, remove to a plate; set aside. </div>
<div>
<br /></div>
<div>
In the same skillet, cook turkey and onions over medium heat until meat is no longer pink. Stir the rice, bean sprouts and cilantro. In a small bowl, whisk the remaining ingredients until blended; stir into skillet. Chop egg into small pieces; stir into skillet and heat through. </div>
<div>
<br /></div>
<div>
We left out the bean sprouts and it was still really good. This meal will cost approximately $1.11 per serving . We both ate all we wanted and had enough left over for one of us to eat for lunch. This is also a really healthy meal. Cheap, quick, healthy, and tastes good!</div>
<div>
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhbI91nWum5CVehKCygSI_4pqAlLfc6XwgGmN5wjwZ-1duH_m_E-9IqX6eaPryRkR-1z7RyYWHgJzCNTjIYFyO2qRmC9XFZ41ZmOaw2CDBsq8ZGwLTI2vQxi65jODbiqEl7AMwwKNnKteU/s1600/DSCN0823.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhbI91nWum5CVehKCygSI_4pqAlLfc6XwgGmN5wjwZ-1duH_m_E-9IqX6eaPryRkR-1z7RyYWHgJzCNTjIYFyO2qRmC9XFZ41ZmOaw2CDBsq8ZGwLTI2vQxi65jODbiqEl7AMwwKNnKteU/s320/DSCN0823.JPG" width="320" /></a></div>
<div>
<br /></div>Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com0tag:blogger.com,1999:blog-9047829089917288325.post-81866245996177695962012-02-28T16:58:00.001-08:002012-02-29T18:15:50.957-08:00Cookin' with Court: Italian-Style Salisbury SteaksThis recipe comes from the December 2011/January 2012 Edition of the Simple and Delicious magazine. The recipe was submitted to the magazine by Heather Nalley of Easley, South Carolina. This is a really flavorful meal. Court has made this recipe twice now because I liked it so much. <br />
<br />
Prep/Total Time: 20 Minutes<br />
Serves: 4<br />
<br />
1 egg<br />
1 tsp. Worcestershire sauce<br />
1/2 cup seasoned bread crumbs<br />
1/2 tsp. garlic powder<br />
1/2 tsp. pepper<br />
1 lb. ground beef<br />
1 Tbsp. canola oil<br />
1 can (14 1/2 oz.) diced tomatoes with basil, oregano and garlic, undrained<br />
1 can (8 oz.) Italian tomato sauce<br />
<br />
<br />
<ul>
<li>Combine first five ingredients in a large bowl. Crumble beef over mixture and mix well. Shape into four oval patties. Brown patties in oil on both sides in a large skillet. Drain. </li>
</ul>
<ul>
<li>Combine diced tomatoes and tomato sauce in a small bowl. Pour over patties. Bring to a boil. Reduce heat; cover and simmer for 10-15 minutes or until meat is no longer pink. </li>
</ul>
This great dish can be made for $1.48 per serving. That's a bargain!<br />
<br />
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4SBaACZRHwj9xrDOG9VtmFnjYjRsXAGwSNEjKNmYd7z7avnuBc4dmcSTXxQe1qgiQrIT2ka0YBIHIoN2KLzCURXUwn1Hmn6mPf1m964RP4vLBe4MA_abinXhx3pNmazw_RHcSOOv_OqA/s1600/DSCN0822.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg4SBaACZRHwj9xrDOG9VtmFnjYjRsXAGwSNEjKNmYd7z7avnuBc4dmcSTXxQe1qgiQrIT2ka0YBIHIoN2KLzCURXUwn1Hmn6mPf1m964RP4vLBe4MA_abinXhx3pNmazw_RHcSOOv_OqA/s320/DSCN0822.JPG" width="320" /></a></div>Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com0tag:blogger.com,1999:blog-9047829089917288325.post-35332973758532885072012-02-27T16:09:00.004-08:002012-02-27T16:15:16.586-08:00How to Purchase a Car<b><u><span style="font-size: large;">Purchasing a Car: Step 2 of 4</span></u></b><br />
<u><b>Step 2: Evaluating Alternatives</b></u><br />
<br />
1. Comparing Vehicle Options<br />
2. Comparing Used Vehicles<br />
<br />
Almost every purchase comes with several alternatives. You may ask yourself: Can I delay the purchase? Should I buy the item with cash or credit? Can I find the item at a better price? Which brands should I consider? If we begin to evaluate the alternatives of each purchase, we will become much more effective consumers.<br />
<br />
When buying a car, most people use comparison shopping. Comparison shopping is great when 1) making a large purchase or 2) buying items that you purchase very frequently. A car would definitely qualify as a large purchase. <br />
<br />
1. <b>Selecting Vehicle Options:</b> Optional equipment for cars can be viewed in three categories.<br />
<br />
<ul><li>Options that improve performance</li>
<li>Options that offer convenience</li>
<li>Options that enhance the outward appearance of the car</li>
</ul><div>As a consumer, we must take all of these options into consideration and determine what we are willing to pay a premium for. For instance, power seats are definitely not a deal maker or breaker for me. On the other hand, I definitely want my car to have a working air conditioner. By making a list of the items that you find to be vital, you will be ready to evaluate almost any car. </div><div><br />
</div><div>2. <b>Comparing Used Vehicles:</b> After you find a few cars you want to evaluate, I would suggest using <a href="http://www.realsolutions.coop/assets/2011/4/27/B05441_DI.pdf">this</a> used car evaluation worksheet to ensure that you ask the correct questions when looking at a car. I would also suggest taking a list of items you should check on the car. I really like <a href="http://www.cryan.com/pdf/UsedCar.pdf">this</a> checklist to take along when car shopping. It may feel a little bit nerdy caring around a clipboard of checklists, but it will help keep your thoughts clear when being hounded by the dreaded salesman. Used cars can be tricky to examine if you are not prepared, so do your research before you go shop. <a href="http://www.kbb.com/">Kelley Blue Book</a> has many great articles such as <a href="http://www.kbb.com/car-news/all-the-latest/10-best-used-cars-under-8000/">The 10 Best Used Cars Under $8,000</a>, that would be great to look at before you go car shopping. </div><div><br />
</div>The majority of this information was taken from <i>Focus on Personal Finance: An Active Approach to Help You Develop Successful Financial Skills</i> by Kapoor, Dlabay, and Hughes. Feel free to share your car shopping experiences and any tips you may have. <br />
<div><span style="background-color: white;"><span style="font-family: 'Times New Roman', serif; font-size: 16px; line-height: 24px;"><br />
</span></span><br />
<span style="background-color: white;"><img height="200" src="http://www.autocreditfinancing.com/wp-content/uploads/2011/06/Auto-Credit-Financing-Car-Credit-Guide-1.jpg" width="198" /> </span></div><div><span style="font-family: 'Times New Roman', serif;"><span style="line-height: 24px;"><br />
</span></span></div>Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com0tag:blogger.com,1999:blog-9047829089917288325.post-85611651087546589752012-02-27T15:26:00.000-08:002012-02-27T15:26:29.088-08:00The Ultimate Gift Book ReviewI recently finished <a href="http://www.amazon.com/dp/1589193571/?tag=googhydr-20&hvadid=2661274981&ref=pd_sl_16d6mz0hb1_b">The Ultimate Gift</a> by Jim Stovall. Being a fiction book, The Ultimate Gift was something different than I am used to reading. I first heard about this book at an agricultural economics seminar I attended at the University of Missouri. If you would like to learn more about this seminar, I blogged about it <a href="http://sheldontoler.blogspot.com/2012/02/dr-david-kohl-seminar.html">here</a>. Dr. Kohl recommended this book because of the timeless morals that are taught throughout the story. <br />
<br />
The Ultimate Gift is about a young man named Jason Stevens. Jason's uncle, Red Stevens, was a very rich man due to his cattle and oil empire. When Red died, his family flocked to find out what the rich man had left them. Red gave the dysfunctional, spoiled family the money they had been waiting on. However, Jason did not receive his inheritance. Red was Jason's great uncle and he saw something different about young Jason. Red made a series of video tapes before his death that outlined the tasks that Jason was to perform throughout the next year in order to receive his inheritance. Red's hope being that he could turn Jason from his lazy and irresponsible ways before it was too late. Red gives Jason 12 gifts in the form of different experiences. The instructions for each of the gifts are outlined in a new video tape every month. Red Stevens left his lawyer, Mr. Hamilton, with the duty of judging whether Jason performed each of the 12 tasks in the correct manner. If he did learn all of the 12 gifts, Jason would receive the ultimate gift. The lessons taught throughout the book are outlined below:<br />
<br />
<ol><li>The Gift of Work</li>
<li>The Gift of Money</li>
<li>The Gift of Friends</li>
<li>The Gift of Learning</li>
<li>The Gift of Problems</li>
<li>The Gift of Family</li>
<li>The Gift of Laughter</li>
<li>The Gift of Dreams</li>
<li>The Gift of Giving</li>
<li>The Gift of Gratitude</li>
<li>The Gift of a Day</li>
<li>The Gift of Love</li>
<li>The Ultimate Gift</li>
</ol><div>This book was also made into a <a href="http://www.imdb.com/title/tt0482629/">movie</a>. I have yet to see it, but I hear that it is worth watching. This book was a rea<span style="text-align: center;">ll</span><span style="text-align: center;">y fast read and was a refreshing positive story. </span></div><div><span style="text-align: center;"><br />
</span></div><div><img height="320" src="http://images.betterworldbooks.com/078/The-Ultimate-Gift-9780781445634.jpg" width="216" /> </div><div><br />
</div><div><br />
</div>Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com1tag:blogger.com,1999:blog-9047829089917288325.post-9733928750479149672012-02-25T14:02:00.004-08:002012-02-25T14:06:17.581-08:00How to Purchase a Car<div class="MsoNormal" style="margin-bottom: 0.0001pt;"><b><u><span style="font-family: 'Times New Roman', serif; font-size: large;">Purchasing a Car: Step 1 of 4</span></u></b><br />
<b><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Step 1: Preshopping Activities</span></u></b></div><div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Problem Identification<o:p></o:p></span></div><div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Information Gathering<o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><br />
</div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">**Buying a car is a very nerve racking activity for most people. My hope is that through this series of four blog posts I, along with others, will become confident car purchasers. <o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><br />
</div><div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> <b> </b></span></span><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><b>Problem Identification</b><o:p></o:p></span></u></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">a.</span><span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span><span style="font-family: inherit;"><span style="font-size: 7pt;"> </span><span style="font-size: x-small;"> </span></span><span style="font-family: Times, 'Times New Roman', serif;">All good decisions begin with an open mind. When many people, including myself, begin the car buying process they already have preconceived ideas of what brand they want and where they are going to buy the car. This type of narrow view is a bad way to begin your search for a new car. Define your problem as widely as possible to allow for the most possible solutions. Is your problem that you need a fast car, a work truck, a car that can hold more kids, a car that gets good gas mileage, or merely a means of transportation? It is important to truly identify your problem before you begin to shop for a car, but remember to keep an open mind. </span><span style="font-family: 'Times New Roman', serif; font-size: small;"><o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in;"><br />
</div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><b>Information Gathering</b><o:p></o:p></span></u></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">a.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">The better informed you are, the better purchasing decision you will make. To be an effective and efficient car buyer you should not spend too much time, or too little time gathering information for your purchase. In their book <a href="http://www.amazon.com/Millionaire-Next-Door-Surprising-Americas/dp/1589795474">The Millionaire Next Door</a>, Thomas J. Stanley and William D. Danko found that "There is an <b><i>inverse relationship</i></b> between the time spent purchasing luxury items such as cars and clothes and the time spent planning one's financial future." <b>The average millionaire spends an average of an hour each year purchasing motor vehicles, while the rest of us spend an average of 60 hours each year purchasing motor vehicles</b>. Besides being time consuming, spending too much time researching automobiles can take you away from more important endeavors. The following information sources may be helpful when purchasing a car: <o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1.5in; margin-right: 0in; margin-top: 0in; text-indent: -1.5in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span>i.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><i><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Personal contacts</span></u></i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">: Let everyone know that you are looking for a car. This will put more eyes to work for you over a larger area. <o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1.5in; margin-right: 0in; margin-top: 0in; text-indent: -1.5in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span>ii.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><i><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><a href="http://www.nadaguides.com/">NADA</a></span></u></i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">: This website will give you the approximate market value of nearly any car. <o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1.5in; margin-right: 0in; margin-top: 0in; text-indent: -1.5in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span>iii.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><i><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Your local dealership</span></u></i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">: Ask which cars sell the best and which cars they rarely see in the workshop. This is a good indicator of a reliable car. <o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1.5in; margin-right: 0in; margin-top: 0in; text-indent: -1.5in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span>iv.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><i><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><a href="http://www.consumerreports.org/cro/index.htm">Consumer Reports</a></span></u></i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">: Websites that offer independent 3<sup>rd</sup> party reviews are invaluable to a purchasing decision. <o:p></o:p></span></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1.5in; margin-right: 0in; margin-top: 0in; text-indent: -1.5in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span>v.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><i><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Media Information</span></u></i><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">:</span></u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"> Look through the classified ads of your local newspapers. Research online for cars that are for sale in your area. <o:p></o:p></span></div><div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; margin-left: 1.5in; margin-right: 0in; margin-top: 0in; text-indent: -1.5in;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span>vi.<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><i><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">A local mechanic</span></u></i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">: Ask the mechanic about the car you are considering. Mechanics see a lot of cars and will have a good idea about which cars have the most problems. <o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><br />
</div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">*This is the first phase of buying your car. Identify what your problem is and keep an open mind. Research and document information to find out which type of car you would most like to look for. The next phase of buying a car will be Evaluating alternatives. <o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><br />
</div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">**The information for this post was primarily taken from <i><a href="http://www.amazon.com/Personal-Finance-Mcgraw-Hill-Insurance-Estate/dp/0073530638/ref=sr_1_1?ie=UTF8&qid=1330206940&sr=8-1">Focus on Personal Finance: An Active Approach to Help You Develop Successful Financial Skills 2nd Edition</a></i> by Kapoor, Dlabay, and Hughes. <o:p></o:p></span><br />
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><br />
</span><br />
<img src="http://www.autocreditfinancing.com/wp-content/uploads/2011/06/Auto-Credit-Financing-Car-Credit-Guide-1.jpg" /> <br />
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><br />
</span><br />
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><br />
</span></div>Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com2tag:blogger.com,1999:blog-9047829089917288325.post-9523109598918366122012-02-23T18:30:00.001-08:002012-02-29T18:16:21.600-08:00How to Get a Free Car<div class="separator" style="clear: both; text-align: left;">
This video is pretty inspirational! I first saw it on <a href="http://christianpf.com/personal-financial-checklist/">Christian Personal Finance</a>. </div>
<div class="separator" style="clear: both; text-align: center;">
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<iframe allowfullscreen='allowfullscreen' webkitallowfullscreen='webkitallowfullscreen' mozallowfullscreen='mozallowfullscreen' width='320' height='266' src='https://www.youtube.com/embed/iIgLyl66QxQ?feature=player_embedded' frameborder='0'></iframe></div>Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com3tag:blogger.com,1999:blog-9047829089917288325.post-85447541104036487442012-02-23T18:09:00.002-08:002012-02-23T18:53:38.816-08:00How to Improve Your Credit Score<div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Credit scores are <u>mysterious, confusing, frustrating</u>, but can be <u>rewarding</u>. If you have ever been confused by a credit score or wanted to know how to improve your credit score, <b>then keep reading</b>. First, let’s look at how a credit score can affect you!<o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><br />
</div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><b><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">**</span></b><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">You are buying a $130,000 home and want to get a 30 year mortgage. The lender pulls your credit and you find out that your credit score is 690. This would mean that your interest rate would be around 4.25%. Over 30 years you would pay $230,227.87 total, $100,227.87 of this being in interest. <o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><b><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">**</span></b><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Now let’s say that you are in the same situation, but your credit score is 730. With this score you would pay $223,430.36 over the 30 year period of time, $93,430.36 of this being in interest. <o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><br />
</div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">As you can see, a difference of <b>40 points can cost you $7,000</b>. <u>Credit scores matter!</u> <o:p></o:p></span></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><br />
</div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><b><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">What is a good credit score?<o:p></o:p></span></u></b></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><br />
</div><div align="center"><table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-yfti-tbllook: 1184;"><tbody>
<tr> <td style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 77.15pt;" valign="top" width="103"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Credit Score<o:p></o:p></span></div></td> <td style="border-left: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 167.8pt;" valign="top" width="224"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">% of Americans with this score<o:p></o:p></span></div></td> </tr>
<tr> <td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 77.15pt;" valign="top" width="103"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">300-499<o:p></o:p></span></div></td> <td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 167.8pt;" valign="top" width="224"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">1%<o:p></o:p></span></div></td> </tr>
<tr> <td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 77.15pt;" valign="top" width="103"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">500-549<o:p></o:p></span></div></td> <td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 167.8pt;" valign="top" width="224"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">5%<o:p></o:p></span></div></td> </tr>
<tr> <td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 77.15pt;" valign="top" width="103"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">550-599<o:p></o:p></span></div></td> <td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 167.8pt;" valign="top" width="224"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">7%<o:p></o:p></span></div></td> </tr>
<tr> <td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 77.15pt;" valign="top" width="103"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">600-649<o:p></o:p></span></div></td> <td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 167.8pt;" valign="top" width="224"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">11%<o:p></o:p></span></div></td> </tr>
<tr> <td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 77.15pt;" valign="top" width="103"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">650-699<o:p></o:p></span></div></td> <td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 167.8pt;" valign="top" width="224"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">10%<o:p></o:p></span></div></td> </tr>
<tr> <td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 77.15pt;" valign="top" width="103"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">700-749<o:p></o:p></span></i></b></div></td> <td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 167.8pt;" valign="top" width="224"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">20%<o:p></o:p></span></i></b></div></td> </tr>
<tr> <td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 77.15pt;" valign="top" width="103"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">750-799<o:p></o:p></span></i></b></div></td> <td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 167.8pt;" valign="top" width="224"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">29%<o:p></o:p></span></i></b></div></td> </tr>
<tr> <td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 77.15pt;" valign="top" width="103"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">800-850<o:p></o:p></span></div></td> <td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 167.8pt;" valign="top" width="224"><div align="center" class="MsoNormal" style="margin-bottom: 0.0001pt; text-align: center;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">11%<o:p></o:p></span></div></td> </tr>
</tbody></table></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><br />
</div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><b><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">How is my credit score calculated?<o:p></o:p></span></u></b></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Most lenders use the <a href="http://en.wikipedia.org/wiki/Credit_score_(United_States)">FICO</a> score to evaluate borrowers. The actual formula that is used to calculate the score is considered a trade secret, but there are 5 important factors significantly impact your credit score<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal; font-weight: normal;"> </span></span></i></b><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">What is your payment history?<o:p></o:p></span></i></b></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">a.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">This makes up 35% of your total score<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">b.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Regency- How recent was your last late payment<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">c.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Frequency- How frequently do you have late payments<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">d.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Severity- How late was your late payment<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal; font-weight: normal;"> </span></span></i></b><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">How much do you owe?<o:p></o:p></span></i></b></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">a.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Makes up 30% of your total score<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">b.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Keep the difference between your balance and credit limit at a wide margin<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal; font-weight: normal;"> </span></span></i></b><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">How long have you had credit?<o:p></o:p></span></i></b></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">a.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Makes up 15% of your score<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-left: 1.0in; mso-add-space: auto; mso-list: l1 level2 lfo1; text-indent: -.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">b.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal; line-height: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">The longer you have had credit, the better<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal; font-weight: normal;"> </span></span></i></b><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">When was your last application for credit?<o:p></o:p></span></i></b></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">a.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Makes up 10% of your score<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">b.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Don’t open a lot of accounts in a short period of time<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">c.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Don’t open accounts right before you apply for a loan<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">5.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal; font-weight: normal;"> </span></span></i></b><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">What types of credit do you use?<o:p></o:p></span></i></b></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">a.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">FICO wants a healthy mix of revolving credit and installment loans<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">b.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Major credit cards are good for revolving credit, but <u>you do not have to carry a balance</u><u><o:p></o:p></u></span></i></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><br />
</div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><b><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">How do you get your score?<o:p></o:p></span></u></b></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">When retrieving your credit score make sure you go to a legitimate vendor. Also, make sure you do not sign up for credit monitoring. Many companies offer free credit reports, but these reports do not always include the score. My recommendation: <o:p></o:p></span></i></div><div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Go to <a href="http://myfico.com/">Myfico.com</a><o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Pay about $40 to get your Equifax and Transunion report. <o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Do this once a year, or before applying for credit.<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal; font-weight: normal;"> </span></span></i></b><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Pulling your own credit will not hurt your score.<o:p></o:p></span></i></b></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">5.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Having a lender pull your score when applying for credit will affect your score. <o:p></o:p></span></i></div><div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt;"><br />
</div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><b><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">How do you improve your score?<o:p></o:p></span></u></b></div><div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal; font-weight: normal;"> </span></span></i></b><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Pull your credit report<o:p></o:p></span></i></b></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">a.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Check identity information<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">b.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Review credit accounts<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">c.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Examine inquiries<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">d.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Look over any collections or public records<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1.5in; margin-right: 0in; margin-top: 0in; text-indent: -1.5in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span>i.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> <a href="http://www.blogger.com/goog_808531019"> </a></span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><a href="http://www.uscourts.gov/FederalCourts/Bankruptcy/BankruptcyBasics/Chapter13.aspx">Chapter 13 bankruptcy</a> stays on your credit bureau for 7 years<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1.5in; margin-right: 0in; margin-top: 0in; text-indent: -1.5in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span>ii.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><a href="http://www.uscourts.gov/FederalCourts/Bankruptcy/BankruptcyBasics/Chapter7.aspx">Chapter 7 bankruptcy</a>—10 years<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1.5in; margin-right: 0in; margin-top: 0in; text-indent: -1.5in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span>iii.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Lawsuits, judgments, or paid tax liens—7 years<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1.5in; margin-right: 0in; margin-top: 0in; text-indent: -1.5in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span>iv.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Late payments—7 years<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1.5in; margin-right: 0in; margin-top: 0in; text-indent: -1.5in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span>v.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Any negative information that is not yours<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal; font-weight: normal;"> </span></span></i></b><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Pay your bills on time<o:p></o:p></span></i></b></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal; font-weight: normal;"> </span></span></i></b><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Pay down debt<o:p></o:p></span></i></b></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">a.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Pay down debts that have balances close to the credit limit. <o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">b.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Pay the debt down to around 30% of the limit and move to the next card of revolving credit line. <o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal; font-weight: normal;"> </span></span></i></b><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Don’t close revolving debt accounts<o:p></o:p></span></i></b></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">a.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">This will <u>rarely</u> help you!<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">b.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">You never want to narrow the gap between credit available and balance owing. Instead, you want to widen this gap by paying down balances. <o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">c.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Closing these accounts could also make your credit life appear younger than it is. <o:p></o:p></span></i></div><div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">5.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Apply for credit sparingly<o:p></o:p></span></i></div><div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; margin-left: 1in; margin-right: 0in; margin-top: 0in; text-indent: -0.25in;"><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">a.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">If you don’t have credit, a credit card is a good place to start. <o:p></o:p></span></i></div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><br />
</div><div class="MsoNormal" style="margin-bottom: 0.0001pt;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Credit scores may still seem very confusing to you, but I hope this explanation helps clear up some issues. The information for this post was primarily taken from <i><a href="http://www.amazon.com/Your-Credit-Score-Improve-Financial/dp/0132254581">Your Credit Score: How to Fix, Improve, and Protect the 3-Digit Number that Shapes Your Financial Future</a></i> by Liz Pulliam Weston. For more information, this is a great book to get at your local library or bookstore. Another good resource on credit score information is a Youtube video titled <i><a href="http://www.youtube.com/watch?v=ZM4XWgxryb4">Understanding Credit Scoring</a></i>. <o:p></o:p></span><br />
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><br />
</span><br />
<img height="196" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg3_Gf8LA4kBjL14xCqG_ilvAtLhpySMZn0JFm9WCGgv1mW5nDeERQ8AZP_XjiXO1dwuUsQLl6FE3qkjcpcH0kpKGsbi_vmDp5PsLV8fUt3INBXRVHt6GlNSxEVy6RKAyzo8dws9wCr6jU/s200/repair-a-bad-credit-score.jpg" width="200" /> </div>Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com0tag:blogger.com,1999:blog-9047829089917288325.post-19445383113859046942012-02-22T15:24:00.001-08:002012-02-29T18:16:39.301-08:00Get Started Investing<div class="MsoNormalCxSpFirst" style="margin-bottom: 0.0001pt;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Many people <u>consider</u> investing their money, but <b><u>they just do not know where to begin</u></b>. One option is to go to a financial planner and earn a modest return, at what many times is a fairly high price. Another option many people choose is to do nothing at all. Between these two, obviously you should choose the first. However, there is another wa<a href="http://www.blogger.com/post-edit.g?blogID=9047829089917288325&postID=1944538311385904694&from=pencil" name="_GoBack"></a>y. <a href="http://www.fool.com/60second/indexfund.htm">Index fund investing</a> is easy, efficient, effective, and will cost you a fraction of what a professional would charge. There are a few things to consider before you begin to put together your asset mix. First, what kind of time frame are you considering? You will need a minimum of five years to make my portfolio mix recommendation work for you (a <b><u>minimum</u> </b>of 5 years). You will also need to ask yourself how risk adverse you are. If you are not sure how risk adverse you are, there are <a href="https://personal.vanguard.com/us/FundsInvQuestionnaire">online questionnaires</a> to help you figure this out. <o:p></o:p></span></div>
<div class="MsoNormalCxSpMiddle" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormalCxSpMiddle" style="margin-bottom: 0.0001pt;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Next, we will determine how you should allocate your savings between stocks, bonds, and cash. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">For a normal amount of risk<o:p></o:p></span></u></b></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Take (100-Your age). The remaining number is the percentage of your savings you should allocate to stocks. <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Take (Your age/2). This percentage of your savings goes into a <a href="http://money.cnn.com/magazines/moneymag/bestfunds/2008/indexfunds.html">bond index fund</a> and an interest bearing checking account. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">For more risk—A larger return, or a larger loss<o:p></o:p></span></u></b></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Take [{100-(Your age x .5)}/2]. This number is the percentage of your savings you should allocate toward both a foreign stock index fund and an American stock index fund. <i>You are just cutting your age in half</i>. <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Take (The remaining percentage x 60%). This is the percentage you should allocate toward a bond index fund. <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">The remaining percentage should be allocated toward cash in the form of an interest bearing checking account. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">For less risk—A smaller return<o:p></o:p></span></u></b></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Take (100-[Your age x 1.5]). This is the percentage you should allocate toward an American stock index fund. For some older folks this number will be negative, in which case you should put no money in the stock market. <i>You are making yourself older by half of your life</i>.<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Take [(100-1<sup>st</sup> %) x 30%]. This percentage should go into a bond index fund. <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">The remaining percentage should go into an interest bearing checking account. <o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">*Now let’s do an example of all three.* <o:p></o:p></span></u></b></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">--Fred is a 40 year old who has $50,000 to invest, but does not know where to start. Fred is investing for at least 25 years. Fred will use four investing mediums to achieve his financial goals: <o:p></o:p></span></i></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">1.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> <a href="http://www.blogger.com/goog_786373332"> </a></span></span></i><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><a href="http://finance.yahoo.com/q?s=vtsmx&ql=1">Vanguard Total Stock Market Index Fund (VTSMX)</a></span></i></b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">: 10 year avg. return of 5.49%<o:p></o:p></span></i></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">2.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><a href="http://finance.yahoo.com/q?s=vbmfx&ql=1">Vanguard Total Bond Market Index Fund (VBMFX)</a></span></i></b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">: 10 year avg. return of 3.75%<o:p></o:p></span></i></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">3.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> <a href="http://www.blogger.com/goog_769085424"> </a></span></span></i><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><a href="http://www.bankofbolivarmo.com/home/services/checking#ultimate">Bank of Bolivar Ultimate Free Checking Account</a></span></i></b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><a href="http://www.bankofbolivarmo.com/home/services/checking/ultimate">:</a> 2.97% return when qualifications are met. <o:p></o:p></span></i></div>
<div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">4.<span style="font-family: 'Times New Roman'; font-size: 7pt; font-style: normal;"> </span></span></i><b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><a href="http://finance.yahoo.com/q?s=vgtsx&ql=1">Vanguard Total International Stock Index Fund (VGTSX)</a></span></i></b><i><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">: 10 year avg. return of 5.86%<o:p></o:p></span></i></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Example 1: Normal Risk<o:p></o:p></span></u></b></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">(100-40)=60% <o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">60% x $50,000 = $30,000 in Vanguard Total Stock Index Fund (VTSMX)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">(40%/2) = 20%<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">20% x $50,000= $10,000 in Vanguard Total Bond Market Index Fund (VBMFX)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">20% x $50,000= $10,000 in Bank of Bolivar Ultimate Free Checking account<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Example 2: More Risk<o:p></o:p></span></u></b></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">{[100-(40 x .5)]/2}= 40%<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">[(40% x $50,000)/2] = $20,000 in Vanguard Total Stock Index Fund (VTSMX)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">$20,000 in Vanguard Total International Stock Index Fund (VGTSX)<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">(100%-80%)=20%, (20%x 60%)= 12% or ($50,000 x 12%)= $6000 into Vanguard Total Bond Market Index Fund (VBMFX)<u><o:p></o:p></u></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Lastly, (8% x $50,000)= $4,000 in Bank of Bolivar Ultimate Free Checking account<u><o:p></o:p></u></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<b><u><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Example 3: Less Risk<o:p></o:p></span></u></b></div>
<div class="MsoListParagraphCxSpFirst" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">(100-[40 x 1.5])= 40%, or ($50,000 x 40%)= $20,000 in Vanguard Total Stock Index Fund (VTSMX).<o:p></o:p></span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">[(100-40) x 30%]= 18%, or ($50,000 x 18%)= $9,000 in Vanguard Total Bond Market Index Fund (VBMFX)<u><o:p></o:p></u></span></div>
<div class="MsoListParagraphCxSpLast" style="margin-bottom: 0.0001pt; text-indent: -0.25in;">
<span style="font-family: Symbol; font-size: 12pt;">·<span style="font-family: 'Times New Roman'; font-size: 7pt;"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">(100-(40+18))=42%, or ($50,000 x 42%)= $21,000 in Bank of Bolivar Ultimate Free Checking account.<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<br /></div>
<div class="MsoNormal" style="margin-bottom: 0.0001pt;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">**As you can see, Fred can adjust his portfolio according to the risk he is willing to take and his age. I chose Vanguard because it offers my favorite index funds and has a very low <a href="http://www.investopedia.com/terms/e/expenseratio.asp#axzz1n9i9dmEl">expense ratio</a> with no <a href="http://www.fool.com/school/mutualfunds/costs/loads.htm">up-front load fee</a>. Before you consider investing you should pay off any credit card or high interest rate debt. You should also first set up an <a href="http://www.getrichslowly.org/blog/2006/09/08/how-to-start-an-emergency-fund/">emergency fund</a> with 3 to 6 months expenses. I know that many people do not have $50,000 setting around to invest, this was just an example. If you are starting small, save up $3,000 in your Bank of Bolivar account and open the Vanguard Total Bond Market Index Fund (VBMFX). Save $3,000 more and open the Vanguard Total Stock Index Fund (VTSMX). Then begin the process of investing a <a href="http://beginnersinvest.about.com/cs/newinvestors/a/041901a.htm">fixed amount of money every month</a> and allocating it the way we discussed above. This type of investing is not for a short-term gain, but should be done over a long period of time. I first read about index fund investing in <i><a href="http://sheldontoler.blogspot.com/2012/02/money-made-simple-how-to-flawlessly.html">Money Made Simple</a></i>, which would be beneficial to read for more information. You will be well-diversified and will earn a modest return on your savings. If you do want to seek financial advice, I would suggest visiting <a href="https://www.bankofbolivarmo.com/home/home">Bank of Bolivar’s</a> financial services offered through <a href="http://lplfinancial.lpl.com/">LPL</a>. The representative in Bolivar is <a href="http://financial-advisors.findthebest.com/l/321456/Charles-Campbell">Mike Campbell</a>. I hope this is helpful. I am not a professional financial planner and my ideas should be taken with a grain (or lump) of salt, but I do enjoy reading and writing about the subject. <u><o:p></o:p></u></span><br />
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><br />
</span><br />
<img height="133" src="http://lazytechguys.zippykidcdn.com/wp-content/uploads/2011/04/a-list-of-penny-stocks-graph.png" width="200" /> </div>Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com2tag:blogger.com,1999:blog-9047829089917288325.post-35623491274826977462012-02-21T17:08:00.000-08:002012-02-29T18:16:54.214-08:00Cookin' with Court: Chicken with Caramelized PearsI recently realized that Court makes many recipes that I really like, and I need a way to document these recipes for the future. I have decided to call these write-ups "Cookin' with Court." Tonight we made Chicken with Caramelized Pears. This recipe comes from December 2011-January 2012 Edition of the <i>Taste of Home Simple and Delicious</i> magazine on page 18. It is a great meal that is full of flavor. The following is copied from the magazine:<br />
<br />
<u><b>Chicken with Caramelized Pears</b></u><br />
Prep/Total Time: 30 minutes<br />
Serves 4<br />
<br />
<ul>
<li>4 boneless skinless chicken breast halves (6 oz. each)</li>
<li>1/2 tsp. salt</li>
<li>1/2 tsp. pepper</li>
<li>3 Tbsp. butter</li>
<li>1 Medium red onions, halved and thinly sliced</li>
<li>2 Medium pears, thinly sliced</li>
<li>2 tsp. brown sugar</li>
<li>1/2 cup balsamic vinaigrette</li>
<li>1/2 tsp. dried thyme</li>
<li>2 pkg. (8.8 ox. each) ready-to-serve long grain wild rice</li>
</ul>
<i>Sprinkle Chicken</i> with salt and pepper. Brown chicken in butter in a large skillet; remove and keep warm. Saute onion in the same skillet until tender. Add pears and brown sugar; cook 3 minutes longer. Stir in vinaigrette and thyme.<br />
<div>
<i>Return Chicken</i> to skillet. Bring to a boil. Reduce heat; simmer, uncovered, for 4-6 minutes or until chicken juices run clear. Meanwhile, cook rice according to package directions. Serve with chicken. </div>
<div>
<br /></div>
<div class="separator" style="clear: both; text-align: center;">
<a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJW8ZywFuoOZP3R4RihY6192hOpjoBS-gvw5muuJIyEqS_ZAOrpTugJDCrAa-WOI9WKicqo_54wjpyH6-onp0b9EEgG03tkdo6mblsG8zbKEIjnENOwokiWWRqVS9jAcPmbQKvgLWyqOM/s1600/DSCN0821.JPG" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="240" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhJW8ZywFuoOZP3R4RihY6192hOpjoBS-gvw5muuJIyEqS_ZAOrpTugJDCrAa-WOI9WKicqo_54wjpyH6-onp0b9EEgG03tkdo6mblsG8zbKEIjnENOwokiWWRqVS9jAcPmbQKvgLWyqOM/s320/DSCN0821.JPG" width="320" /></a></div>
<div>
<br /></div>
<div>
(This also works with pork loin chops and thinly sliced apples)</div>
<div>
<br />
<br /></div>Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com2tag:blogger.com,1999:blog-9047829089917288325.post-86954563776011367892012-02-21T16:36:00.000-08:002012-02-29T18:17:15.114-08:00Dr. David Kohl Seminar<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; text-align: left;">
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;">I recently attended an agricultural economics seminar at the University of Missouri. <a href="http://www.fcuniversity.com/kohlbio.htm">Dr. David Kohl</a> put on the seminar and did a great job of informing and entertaining. He mainly spoke in regards to the agricultural sector, but many of his lessons can be applied to all areas of business. Dr. Kohl writes for the <a href="http://cornandsoybeandigest.com/">Corn and Soybean Digest</a>, <a href="http://www.agcountry.com/en/Tools/Ag-Globe-Trotter.aspx">Ag Country</a>, <a href="http://www.agchoice.com/business-management/business-and-economy-trends">Ag Choice Farm Credit</a> and many other agricultural resources. I would recommend going to see Dr. Kohl speak if you ever have the chance. Here are my notes from the seminar. I have additional resources if anyone is interested. I especially like the quotes at the bottom of the notes!</span><br />
<span style="font-family: 'Times New Roman', serif; font-size: 12pt;"><br />
</span></div>
<div class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Dr. David M. Kohl</span></b></div>
<div align="center" class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Professor of Agricultural and Applied Economics</span></b></div>
<div align="center" class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt;">Virginia Tech, Blacksburg, VA</span></b></div>
<div align="center" class="MsoNormal" style="line-height: normal; margin: 0in 0in 0pt; text-align: center;">
<br /></div>
<div class="MsoListParagraphCxSpFirst" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1; text-indent: -0.25in;">
<span style="font-family: Wingdings; font-size: 12pt; line-height: 115%;">§<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">The top 20% of agricultural producers have maintained a ROA >10% for the last 15 years</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1; text-indent: -0.25in;">
<span style="font-family: Wingdings; font-size: 12pt; line-height: 115%;">§<span style="font-family: 'Times New Roman';"> </span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">The 50-100-70 Rule</span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">By the year 2050 the world will require 100% more food, and 70% of this food must come from efficiency-improving technology. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1; text-indent: -0.25in;">
<span style="font-family: Wingdings; font-size: 12pt; line-height: 115%;">§<span style="font-family: 'Times New Roman';"> </span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Develop an advisory team</span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Meet 3 to 4 times per year</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Studies show that an advisory team can make a farm 30% more profitable</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Have a “but what if” lender on your advisory team, not a “yes” lender</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1; text-indent: -0.25in;">
<span style="font-family: Wingdings; font-size: 12pt; line-height: 115%;">§<span style="font-family: 'Times New Roman';"> </span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Use scenario planning</span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Develop scenarios to determine what shape your business would be in if the worst were to happen. Create a plan to cope with these scenarios. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1; text-indent: -0.25in;">
<span style="font-family: Wingdings; font-size: 12pt; line-height: 115%;">§<span style="font-family: 'Times New Roman';"> </span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Trends for the United States: </span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Public Debt</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Aging Population</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Entitlements and a simplified tax code</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Interest rates should stay low through 2014</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1.5in; mso-add-space: auto; mso-list: l0 level3 lfo1; text-indent: -0.25in;">
<span style="font-family: Wingdings; font-size: 12pt; line-height: 115%;">§<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">If core inflation goes above 2% or unemployment nears 6%, the interest rates will begin to rise. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1; text-indent: -0.25in;">
<span style="font-family: Wingdings; font-size: 12pt; line-height: 115%;">§<span style="font-family: 'Times New Roman';"> </span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Top challenges/risk to the agricultural industry in the next 5 years</span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Volatility and global markets</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Asset bubble vs. Credit bubble</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Normalization of deviation</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1.5in; mso-add-space: auto; mso-list: l0 level3 lfo1; text-indent: -0.25in;">
<span style="font-family: Wingdings; font-size: 12pt; line-height: 115%;">§<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">A <i style="mso-bidi-font-style: normal;">“new normal”</i> will always lead to a surprise. </span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Young lenders and producers have never faced a downturn</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Making decisions on tax returns rather than of accrual-adjusted records</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1.5in; mso-add-space: auto; mso-list: l0 level3 lfo1; text-indent: -0.25in;">
<span style="font-family: Wingdings; font-size: 12pt; line-height: 115%;">§<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">There is, on average, a 64% difference</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1; text-indent: -0.25in;">
<span style="font-family: Wingdings; font-size: 12pt; line-height: 115%;">§<span style="font-family: 'Times New Roman';"> </span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Oil</span></b></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Six of eight recessions in the past fifty years are due to oil</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Consumers lock up at $3.00 to $3.50 per gallon</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Consumers shut down at $4.00 per gallon</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Oil needs to be around $85/bbl for good economic growth</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 0.5in; mso-list: l0 level1 lfo1; text-indent: -0.25in;">
<span style="font-family: Wingdings; font-size: 12pt; line-height: 115%;">§<span style="font-family: 'Times New Roman';"> </span></span><b style="mso-bidi-font-weight: normal;"><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">Words to remember</span></b><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">: </span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">“Family living expense is like concrete: Once it sets up, it is difficult to change”</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">“If it grows like a weed, it probably is”</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">“Be a <u>but what if</u> lender”</span></div>
<div class="MsoListParagraphCxSpMiddle" style="margin: 0in 0in 0pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">“Better is better before bigger is better”</span></div>
<div class="MsoListParagraphCxSpLast" style="margin: 0in 0in 10pt 1in; mso-add-space: auto; mso-list: l0 level2 lfo1; text-indent: -0.25in;">
<span style="font-family: 'Courier New'; font-size: 12pt; line-height: 115%;">o<span style="font-family: 'Times New Roman';"> </span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;">“Future problems are created during good times”</span><br />
<span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><br />
</span><br />
<br />
<div style="text-align: left;">
<div style="text-align: left;">
<a href="http://www.fcuniversity.com/Images/kohlbio.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="200" src="http://www.fcuniversity.com/Images/kohlbio.jpg" width="164" /></a></div>
<span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><br />
</span></div>
<span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><br />
</span><br />
<span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><br />
</span><br />
<span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><br />
</span><br />
<span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><br />
</span><br />
<span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><br />
</span><br />
<span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><br />
</span><br />
<span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 115%;"><br />
</span></div>Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com0tag:blogger.com,1999:blog-9047829089917288325.post-35498383532024925972012-02-20T07:41:00.001-08:002012-02-29T18:17:38.407-08:00The Richest Man in Babylon by George S. Clason<i><a href="http://en.wikipedia.org/wiki/George_Samuel_Clason">George S. Clason</a> wrote <a href="http://www.ccsales.com/the_richest_man_in_babylon.pdf">The Richest Man in Babylon</a></i> (1926) is written in the form of a parable. The book begins with two men talking about there struggles with working so hard, yet not acquiring any wealth. They decide to go to the richest man in Babylon, Arkad, for advice. The rest of the book is Arkad's experience and advice on acquiring wealth. The premise of <i>The Richest Man in Babylon</i> is the idea that "Money is governed today by the same laws which controlled it when prosperous men thronged the streets of Babylon, six thousand years ago." The table of contents of <i>The Richest Man in Babylon </i>is as follows:<br />
<br />
<ol>
<li>The Man Who Desired Gold</li>
<li>The Richest Man in Babylon</li>
<li>Seven Cures for a Lean Purse</li>
<li>Meet the Goddess of Good Luck</li>
<li>The Five Laws of Gold</li>
<li>The Gold Lender of Babylon</li>
<li>The Walls of Babylon</li>
<li>The Camel Trader of Babylon</li>
<li>The Clay Tablets from Babylon</li>
<li>The Luckiest Man in Babylon</li>
<li>A Historical Sketch of Babylon</li>
</ol>
Arkad first gives the men wanting his advice <b>7 cures for a lean purse</b>:<br />
<br />
<ol>
<li>Start thy purse to fattening: This is the most important step. Save at least 10% of what you keep for yourself. I would add that tithing should come first, then paying yourself. </li>
<li>Control thy expenditures</li>
<li>Make thy gold multiply</li>
<li>Guard thy treasures from loss</li>
<li>Make of thy dwelling a profitable investment</li>
<li>Insure a future income</li>
<li>Increase thy ability to earn</li>
</ol>
Next Arkad gives the men <b>5 laws of gold</b>:<br />
<br />
<ol>
<li>Gold cometh gladly and in increasing quantity to any man who will put by not less than one-tenth of his earnings to create an estate for his future and that of his family. </li>
<li>Gold laboreth diligently and contentedly for the wise owner who finds for it profitable employment, multiplying even as the flocks of the field. </li>
<li>Gold clingeth to the protection of the cautious owner who invests it under the advice of men wise in its handling. </li>
<li>Gold slippeth away from the man who invests it in businesses or purposes with which he is not familiar or which are not approved by those skilled in its keep. </li>
<li>Gold flees the man who would force it to impossible earnings or who followeth the alluring advice of tricksters and schemers or who trusts it to his own inexperience and romantic desires in investment. </li>
</ol>
<i>The Richest Man in Babylon </i>is centered around the lessons highlighted above. The story helps hold the readers interest and makes the book enjoyable. The book is short at only 148 small pages, but it has many timeless lessons on the use of money. I would recommend this book to someone who just wants to get back to the foundations of good money management. A more thorough summary of the book can be found <a href="http://www.butler-bowdon.com/the-richest-man-in-babylon">here</a>.<br />
<img height="200" src="http://photo.goodreads.com/books/1157830525l/1052.jpg" width="117" />Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com0tag:blogger.com,1999:blog-9047829089917288325.post-31105265816998399122012-02-20T06:59:00.000-08:002012-02-29T18:17:55.202-08:00Money Made Simple: How to Flawlessly Control Your Finances in Minutes a Year by Stacy Johnson<a href="http://www.amazon.com/Money-Made-Simple-Flawlessly-Finances/dp/B000HWYKVG/ref=sr_1_1?ie=UTF8&qid=1329749397&sr=8-1">Money Made Simple</a> is a book that covers nearly every area of personal finance. This book was one of the most applicable personal finance books I have read. The lessons taught in the book were easy to apply and fairly conservative. The table of contents of Money Talks is as follows:<br />
<br />
<ol>
<li>A Tale of Two Pities</li>
<li>Understanding Investments, Once and for All</li>
<li>The Only Chapter of a Book About Investing in Stocks You'll Ever See Whose Title is Longer than the Information It Gives</li>
<li>Buying Stocks the Right Way: Mutual Funds </li>
<li>Bonds</li>
<li>Stupid Investment Tricks I: Futures and Options</li>
<li>Stupid Investment Tricks II: Other Stuff</li>
<li>Dividing Up the Dough: Asset Allocation</li>
<li>The Only Investment System You'll Ever Need</li>
<li>Investing for Retirement</li>
<li>Investing for College</li>
<li>Deflating Inflation</li>
<li>Setting Goals</li>
<li>Getting Organized</li>
<li>Making Your Life Less Taxing: Income Taxes</li>
<li>Insurance</li>
<li>Real Estate</li>
<li>Estate Planning</li>
<li>Bring It All Together</li>
</ol>
I do not have enough time to write about every chapter in this book, so I am going to highlight some of my favorite information in Money Made Simple. <br />
<br />
<ul>
<li><a href="http://www.moneytalksnews.com/">Stacy Johnson</a> gives a very simple, but effective way of dividing up your savings. First take 100 minus your age (this is the percent of your savings that should be in the stock market). Next divide up the remaining percentage equally between cash and bonds. In my example, 100-23=77% in stocks, 11.5% in bonds, and 11.5% in an interest bearing savings account. </li>
<li>According to Money Talks, <a href="http://en.wikipedia.org/wiki/Dollar_cost_averaging">dollar cost averaging</a> (investing fixed amounts of money at regular intervals over periods of time), is the only investment system you will ever need. By investing this way, you'll find that you can create wealth even if your investment does not increase in value over time. Just set up an<a href="http://en.wikipedia.org/wiki/Index_fund"> index fund</a> and invest a set amount at the same time every month. Simple, but effective. </li>
<li> Stacy Johnson recommends buying stocks in the form of index funds. One of the best index funds is the <a href="https://personal.vanguard.com/us/funds/vanguard/core">Vanguard 500 Index Fund</a> <a href="http://finance.yahoo.com/q?s=vtsmx&ql=1">(VTSMX)</a>. This fund has an expense ratio of only .18% compared to an industry average of 1.12%. The fund does not have a front-end load fee. Vanguard also has a <a href="https://personal.vanguard.com/us/funds/vanguard/core">Total Bond Market Index Fund</a> <a href="http://finance.yahoo.com/q?s=vbmfx&ql=1">(VBMFX)</a>, a <a href="https://personal.vanguard.com/us/funds/vanguard/core">Total International Stock Index Fund</a> <a href="http://finance.yahoo.com/q?s=vgtsx&ql=1">(VGTSX)</a>, and a <a href="https://personal.vanguard.com/us/funds/vanguard/core">Prime Money Market Fund</a> <a href="http://finance.yahoo.com/q?s=vmmxx&ql=1">(VMMXX)</a>. </li>
<li>The last thing I would like to highlight is the getting organized chapter. Stacy Johnson highly recommends getting all of your important paper work together and organizing it in one central place. When a disaster happens, the last thing you want to be doing is searching for your insurance plans. Courtney and I recently organized all of our important paperwork into a three-ring binder. It has already proved to be beneficial. It takes time, but it will save time down the road. </li>
</ul>
I would highly recommend this book to people in all stages of life. Reading this book can help anyone get started organizing their finances. There is a variety of topics covered in the book and all will apply to your life at some point. <br />
<br />
<img height="320" src="http://covers.openlibrary.org/w/id/210723-L.jpg" width="213" />Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com0tag:blogger.com,1999:blog-9047829089917288325.post-24776670241629844662012-01-23T15:38:00.000-08:002012-02-29T18:18:06.351-08:00Book Review: Rich Dad, Poor Dad by Robert T. Kiyosaki with Sharon L. Lechter, C.P.A This book was given to me by Norman Garwood as a college graduation present. When Norman gave me the book he was fairly quick to tell me that it is not necessarily a Christian personal finance book, which honestly made me a little more excited to start flipping through the pages. Through reading many Christian finance books, blogs, and articles, I have found that many authors just recycle the same information. There is nothing wrong with the advice of proclaimed Christian personal financial advisers, but I always enjoy gaining a new perspective.<br />
The book <u>Rich Dad, Poor Dad</u> is about what the rich teach their kids about money that the poor and middle class do not. Robert Kiyosaki grew up in a middle class family and, like most middle class families, talking about money was not a common conversation around the Kiyosaki house. However, Mr. Kiyosaki's best friend Mike grew up a a wealthy family where financial matters were commonly discussed and taught. As middle school kids, Robert and his friend Mike decided they wanted to become rich. In an effort to gain an understanding of how to become rich they asked Mike's dad for advice. Mikes dad (rich dad) taught them six lessons that he said would lead them to become wealthy. The six lessons taught in the book are as follows:<br />
<br />
<ol>
<li><b><u>The Rich Don't Work for Money</u></b>: Instead of working for money, the rich make money work for them. "Most people....go to school, learn a profession, have fun at their work, and earn lots of money. One day they wake up with big money problems, and then they can't stop working. That's the price of only knowing how to work for money instead of studying how to have money work for you." Mr. Kiyosaki teaches that learning a profession is only part of the secret of becoming rich; the other half is a continuous study of how to use and invest money wisely to make it work for you. </li>
<li><u style="font-weight: bold;">Why Teach Financial Literacy?</u>: "You must know the difference between an asset and a liability, and buy assets. If you want to be rich, this is all you need to know. It is rule number one." Rich dad explains that something is only an asset if it generates income. Working at a bank, I know that this is not the normal definition of an asset. For example, on a financial statement automobiles are listed as assets. Rich dad would say that an automobile is a liability because it costs money instead of generating income. Kiyosaki summarizes the chapter by saying "The rich buy assets. The poor only have expenses. The middle class buys liabilities they think are assets."</li>
<li><u style="font-weight: bold;">Mind Your Own Business</u>: "A problem with school is that you often become what you study. So if you study, say, cooking, you become a chef......The mistake of becoming what you study is that too many people forget to mind their own business. The purpose of this chapter is to remind readers to take the time to care for their own personal finances. </li>
<li><b><u>The History of Taxes and The Power of Corporations</u></b>: A summary of this chapter is that the rich with corporations earn money, spend, and then pay taxes. People who work for corporations earn money, pay taxes, and then spend what is left over. </li>
<li><u style="font-weight: bold;">The Rich Invent Money</u>: There are two types of investors. Those that purchased packaged deals. This type of safe investing is recommended for most people, including myself, who do not fully understand how to piece together a winning investment portfolio. The second type of investor looks for creative opportunities, that are often not fully taken advantage of by the general population, in order to earn a greater reward for his or her money. This type of investing is what the author is talking about when he says that the rich "invent" money. </li>
<li><u style="font-weight: bold;">Work to learn--Don't work for money</u>: The author recognizes that we can not all start out with our "dream job." Mr. Kiyosaki suggests that people should use whatever career they are currently involved in to gain new insight and learn new skills that could be very beneficial in the future. Most people work for multiple businesses during their working career, so "...why not seek to learn more than earn." </li>
</ol>
<div>
<b><u>Opinion:</u></b> <u>Rich Dad, Poor Dad</u> was an easy read that brought forth some new ways of looking at personal finances. Mr. Kiyosaki often puts down the idea of having a normal, stable career throughout the book. I personally believe that having a normal career is a perfectly acceptable way of building wealth. Owning a business is not for everyone, and could hurt many people more than it would help them financially. I did enjoy the way that the author suggest that an employee views work (Lesson #6). I also found Mr. Kiyosaki's idea of what constitutes an asset to be very educational (Lesson #2). I am glad that Norman got me this book and would recommend to people looking for an alternative view of personal finances. <br />
<br />
<img height="200" src="http://2.bp.blogspot.com/_C094s2Mno3w/S-pb_ccgnOI/AAAAAAAAAC4/yOZDXMXUPOI/s200/rich-dad-poor-dad_review.jpg" width="126" /> </div>
<div>
<br /></div>
<div>
Thank you for reading!</div>
<div>
<br /></div>Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com0tag:blogger.com,1999:blog-9047829089917288325.post-24922793891212532962012-01-16T07:30:00.000-08:002012-02-29T18:18:39.101-08:00Seeing God in NatureSince today was Martin Luther King day I was off of work; however, Courtney had to be at work early. I woke up and read the <a href="http://odb.org/">Daily Bread</a> while she ate breakfast. The key verse in the Daily Bread was Romans 1:20 which states "Since the creation of the world His invisible attributes are clearly seen, being understood by the things that are made." The reading in the Daily Bread was about <a href="http://en.wikipedia.org/wiki/John_Muir">John Muir</a> (1838-1914), who was a Scottish-born American naturalist. Muir is known by many to be the "Father of National Parks." In 1903 President Roosevelt accompanied Muir on a visit to Yosemite. Muir and Roosevelt camped in the park overnight and Muir conveyed to Roosevelt the importance of preserving God's creation. As I told Courtney this morning, I worship best when fly-fishing at <a href="http://mostateparks.com/park/roaring-river-state-park">Roaring River State Park</a>. Seeing God's creation first-hand is mesmerizing, peaceful, and humbling all at the same time. Today I am going to take the time to look at God's nature for what it is, God's invisible attributes made visible. I am very thankful for people like John Muir and Teddy Roosevelt, who cared enough about nature to set it aside for others to enjoy. <br />
<div class="separator" style="clear: both; text-align: left;">
<span style="background-color: #783f04; color: white; font-family: Times, 'Times New Roman', serif; font-size: large;"><span style="line-height: 19px;"><br />
</span></span></div>
<div class="separator" style="clear: both; text-align: center;">
<br /></div>
<table align="center" cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: center;"><tbody>
<tr><td style="text-align: center;"><img alt="File:Muir and Roosevelt restored.jpg" height="320" src="http://upload.wikimedia.org/wikipedia/commons/thumb/f/fb/Muir_and_Roosevelt_restored.jpg/500px-Muir_and_Roosevelt_restored.jpg" style="margin-left: auto; margin-right: auto;" width="267" /></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Roosevelt and Muir</td></tr>
</tbody></table>
<div class="separator" style="clear: both; text-align: center;">
<br /></div>
<iframe allowfullscreen='allowfullscreen' webkitallowfullscreen='webkitallowfullscreen' mozallowfullscreen='mozallowfullscreen' width='320' height='266' src='https://www.youtube.com/embed/xHkq1edcbk4?feature=player_embedded' frameborder='0'></iframe><br />
<div class="separator" style="clear: both; text-align: right;">
<br /></div>
<div class="separator" style="clear: both; text-align: left;">
<br /></div>Sheldonhttp://www.blogger.com/profile/05201777563820027094noreply@blogger.com1