Fiat-based paper currencies facilitate commerce by acting as a medium of exchange that’s far preferable to bartering. Unfortunately, governments that wish to spend beyond their means can — and do — print fiat with impunity, thereby leading to chronic monetary debasement that can wipe out savings and even disrupt societies. On the other hand, gold and silver pay no interest, but they have no counterparty risks either; that makes them
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It’s been said that failing to plan is planning to fail — especially with respect to personal finances. And although you may be prepared, one of the biggest mistakes any household CEO can make is to abandon their financial plan during extended periods of good or bad fortune. Why? Because, for those who lack the discipline to stay the course, raw emotion may erroneously trump the sound reasoning that was
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There are plenty of food snobs out there who insist that it is sacrilegious to put ketchup on a hot dog. That assessment is echoed by The National Hot Dog Council which proclaims that ketchup should never be put on a hot dog by any one over the age of 18. I find it deliciously ironic when people insist that something as gastronomically unsophisticated as the common hot dog can
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Although you’d never know it based upon the ways people treat time and money, the former is significantly more valuable than the latter because our life here on earth is finite. Yes, time is free; ironically, it’s also priceless. That’s because we can always make more money — but there’s nothing we can do to buy more time.
The bottom line: Treat your time with the same care and consideration you
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Everybody would love to have a new car every couple of years but, for most, that’s an extremely expensive proposition — nor does it make much sense. The reality is you can’t beat a used vehicle purchased from a private owner; late model vehicles provide the biggest savings. This is primarily because most new cars lose upwards of 50% of their value in the first three years.
The bottom line: Folks
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I think it was the Quaker Oats guy who famously declared that a penny saved is a penny earned. However, because of taxes, a penny saved is actually worth more than a penny earned. To illustrate, if you happen to be in the 10% tax bracket, every taxed dollar you earn is worth only $0.90; tack on FICA, state and other taxes and it’s worth even less.
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Risk and reward are inextricably intertwined. Of course, the richest rewards come to those who are willing to take the biggest risks. The oft-forgotten corollary to that strategy is that, by its very nature, high risk endeavors also have a greater chance of failure. That’s why most successful entrepreneurs and investors carefully evaluate risks and identify corresponding contingency plans before making a big decision.
The bottom line:Â Whether it’s a significant
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Many folks who tally their assets and liabilities after years of modest but steady increases in income often end up scratching their heads, wondering why their net worth is nothing to write home about. Whether they’ll admit it or not, those dumbfounded individuals usually have a lot in common with the chronic couch potato who can’t understand why he weighs 450 pounds. Both have management issues — the former, cash;
Continue reading 100 Words On: How Our Debt Troubles Are Usually Related to Diet
This is a guest post from Erin Baker who has several blogs including The Dog Ate My Wallet and, appropriately, 100 Words On. Check them both out when you get a chance!
The Holiday Giving Season is almost upon us. If your company sponsors a specific charity, the decision to give as an employee can be a tricky one. Is this an organization you might give to anyway? Is participating in
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A democracy can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the treasury, with the result that a democracy always collapses over loose fiscal policy. The average age of the world’s greatest civilizations has been 200 years.
– Alexis de Tocqueville
The bottom line: By 2016, our National
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